The market was informed on the 26 August that "your company has been negotiating research partnerships with a number of large pharmaceutical and biotechnology companies."
I spoke to Dr Paul Watt following the announcement who confirmed that discussions have progressed beyond just interested to the active negotiation stage. The PYC library of phylomer peptides is worldclass and has been validated; discussions have moved on from selling the product to negotiating terms and conditions. I gleaned from our conversation that Big Pharma not only realize the drug making potential of the PYC technology but are afraid of missing out to competitors.
Hype? I guess we will all find out in time but it would appear the risk reward equation with an undiluted market cap of $25m is to remain patiently invested.
I first heard of the Phylogica story when the share price surged following the August announcement. Sometimes long suffering shareholders see things differently. I believe the catalyst for change came approximately 12 months ago when management changed focus from clinical to pre-clinical - from following the high risk pathway of developing drugs to building structurally diverse libraries and partnering with big pharma companies. We appear to be at the critical juncture when rubber meets the road.
PYC Price at posting:
10.9¢ Sentiment: Buy Disclosure: Held
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