hii went to the AGM today. Its all good. What I found VERY...

hi

i went to the AGM today. Its all good.

What I found VERY interesting was that PXS (Handley & Robertson) talk aspirationally these days about PXS being a fully fledged Research Body in the Pharmaceutical sector based in Australia but determined to establish a footprint on the global stage.

They are VERY proud about having not licensed out there technology (eg: Biota) and they are deadley serious about blazing a trail for any Aussie biotechs that may follow. For the first time, Robertson spoke about the pipeline of other projects inclduing PXS25 and PXS 4159 plus a couple of other projects Robertson is still not quite readyto talk up but will be "very soon".

Overall, the softly-spoken-but-implied message was that PXS intends being a company with much more than just Bronchitol to offer the world.

Now, of course, it is easier said than done but after I had a one-on-one chat with Robertson I can say that he is serious about wanting to really build something with this company. A legacy.

During question time, the company also spoke about its competitors in the CF space - and there really is only one - an American firm that is sponsored by the CF Society (so, they have an interest in seeing that competitor becomes successful), however PXS are totally engaged with all the necessary "players" in their space - including the CF Society in US - and Robertson is clearly very confident that the PXS product is superior. Not least because it is a twice daily dosage of a pill in powder form versus their (potential) competitor's thrice daily submission to a machine based process (x 30mins each).


FInally, the question was asked about the strategic deliberations the company worked through along the road to deciding a) to build their own production factory and 2) deciding against licensing out to Big Pharma. The context of the question was : Did you reflect at all on the experiences of Biota and Chemeq?

I have to say, the answers gave clear indication that this is a Board that has a clear vision of what they are doing, how they are doing it and why.

Now....should the product not make it safely through the trial stages, all bets are off, but I can say that on the management and leadership level...I don't believe shareholders have ANYTHING to worry about. And that is always a good start when investing in a company - its management.

Hope others find this helpful.

Coop