Ann: Otto Buttula appointed to the Board of OncoSil, page-20

Just doing some reading of the path this company has taken in the last couple of years and came across a curiosity. First, some background:

• Otto has been holding 3.79% of the OSL through I guess his investment vehicle, Webinvest, since at least February 2020.
• On 1 April 2020 the company wins the CE Mark in the EU and UK which also opens it to some markets in SE Asia.
• On 2 December 2020, after 8 months of no sales, the company terminates the services of the MD and CEO Danial Kenny.
• On 21 January 2021, the company appoints as MD and CEO the German based Nigel Lange.
• On 18 February 2021 Mr Lange provides an update to the market, including engaging in a q&a session. Otto asked a question which I will paste below. During that session Mr Lange seemed to me to say that for the company to get full access to markets in not only the US and Australia but also the EU they would have to carry out a randomised trial.
• On 20 July 2021 Otto moves onto the Oncosil board, with the stated intention of becoming the chair at the AGM.
• On 19 October 2021Otto becomes chair and the MD gives his presentation in which he makes no mention of any sales in the EU and notes as an "expansion opportunity": "Generate clinical evidence to access public payer markets globally".So in nine months in the job the the German based MD has made no sales and seems not to have made any tangible progress with a randomised trial needed to access the market.

Anyway as I noted above when was Otto was simply citizen Otto, before he became Chairman Otto, at the q&a on 18 February 2021 he asked this question of the then newly minted MD Lange:

"Otto Buttula: Hi Nigel. The previous CEO mentioned liver many times. We haven’t heard much about liver for quite a while now. Obviously you’ve got other rivers to row down at the moment, but is that still part of the company’s plan?

Nigel Lange:. We’ve got, obviously, limited resources, and we need to focus our resources where we have or are targeting regulatory approvals in the short-term, so in the area of locally advanced pancreatic and distal bile duct in the United States. That’s the immediate plan. I’m not suggesting to you that we won’t look at liver in the future, but for now, in the short-to-medium term, we’re not going to be entertaining anything to do with liver during this initial period. But I won’t discount it to say that we will never look at it."

Now my initial guess is what motivated Otto to take a more hands-on approach with Oncosil is the lack of progress by this company in 2021, even with the new management team settled in (rule of thumb is 3 months to settle in and then another 3 months to start producing results which gives this management team a fail). But perhaps Otto is also keen for the company to move back towards working with liver cancer as well. The company says pancreas cancer is a $3b market already and I see where liver cancer is growing at a compound annual growth rate of about 21% to be a $3.9b market by 2027. (just in case it gets screened it is i health care analyst all as one word). Maybe Otto would prefer a larger market to play in (his other interest, Rhythm, is looking to work in a $39b market).

https://www.ihealthcareanalyst.com/global-liver-cancer-drugs-market/