agm answers

Here are the answers to those who had questions for me to ask at the AGM, plus a few extra snippets that were mentioned. I know most of the answers have been provided by others, but here is the summary.

danboy8:
How much will each treatment retail for? about 50 pounds sterling.
How much profit does TIS make on each sale? That's confidential, but smile when you are making guesses.
How much of the wound care market is TIS likely to corner? At least $1 billion worth (globally), and that is just ulcers. Burns and other healing is additional. All figures are very conservative.

diersel:
How soon is the application for EU approval likely to be submitted? Sorry, didn't find out. It does seem to be just procedural as they already have the classification sorted as you know. And it appears that one application will cover most of EU except for France and some Nordic countries, which require separate trials (with French people). TIS are considering (only considering at this stage) making the FDA diabetic ulcer trials due for Q2/12-Q3/13 complete double-blind fully randomised trials up to drug standard to make VitroGro a 100% proven stand out product. They may also include French citizens in this trial to get the data for French sales approvals while doing it.

goggo:
Is TIS seeking TGA approval in Australia? Not yet, it is low on their list of to-do items and they are not sure exactly how long any application process will be so no estimates of when sales might occur in Aus. Approval in UK and EU will make Aus/NZ easier though.

bumskins:
Royalty rate to QUT? That is confidential, but is lower under the Quintile sales method than it would be under the big pharma partner method. And in passing, the current patents have over 20 years to run, and will probably be updated and extended over the years. The licence agreement with QUT is 'binding' and for the life of the patents, and QUT can't get out of it if they 'get a better offer'.

resourced:
Will they give more regular updates, investor briefings etc.? Sorry, I didn't get a chance to ask that one.

Other notes.....

Cap raising?:
"Don't think so, but we can't be sure..."

Sales thru Quintile:
Using Quintile means that TIS will end up with twice the revenue per sale than if they had partnered with a big pharma and taken royalties. Also, the speed of sales and market penetration is no less than if it had been BP, so profits should grow quicker.

FDA classification as a biological:
This may have a silver lining because re-imbursement approvals in USA are less difficult for biologicals than for devices.

Re-imbursement approvals:
Although they will happily sell in countries even if there is no reimbursement, or it is pending, TIS considers re-imbursement approval to be extremely important in all countries because the majority of the Vitro-gro ulcer market is low socio-economic.

Sales Sector:
They expect that up to 80% of sales achieved will be in non-hospital settings, such as private clinics and homecare.

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In general, I think I've 'lost' as much as anyone here in the last two days as the sp has burned, but I am heartened by the post by gkm. I think there are many advantages to the planned commercialisation method, but like -resourced- I am p'd off that there are so many unexplained gaps in the statements made and there appears to be little desire from SM or others to address the markets need for information beyond what has been released...