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Ann: ADDRESS: PIL: AGM Address from the Chairman, CEO and...

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    • Release Date: 27/05/15 16:15
    • Summary: ADDRESS: PIL: AGM Address from the Chairman, CEO and Principal Scientist
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    					PIL
    27/05/2015 16:15
    ADDRESS
    NOT PRICE SENSITIVE
    REL: 1615 HRS Promisia Integrative Limited
    
    ADDRESS: PIL: AGM Address from the Chairman, CEO and Principal Scientist
    
    Annual General Meeting Addresses
    
    CHAIRMAN'S ADDRESS - Malcolm Johnson
    
    This is my third Annual General Meeting as your Chairman a responsibility I
    take very seriously.
    Much progress has been made since our last shareholder meeting.
    
    With the backing and input of the Board, management has chartered an exciting
    new course to become a global leader in developing and marketing unique and
    safe therapeutic natural products. These products will employ validated
    scientific methodology gathered using robust, evidence-based data. You will
    certainly hear more about that aspect shortly.
    The comprehensive 2014 annual report bears witness to this new course and the
    continuing commitment the board has to raising governance standards such that
    we meet best practice as befitting an NZX listed entity.
    
    The Company's Chief Executive Officer Charlie Daily and Dr. Sheena Hunt the
    Company's Principal Scientist have worked tirelessly to get the Company to
    this point. The Board is indeed indebted to them for their efforts and
    contributions.
    During the year the Company raised in excess of $1,800,000 through a
    placement and a Share Purchase Plan.
    
    We have been successful in receiving two project grants from Callaghan
    Innovation, the Government entity designed to accelerate and support industry
    innovation. The grants assisted the Company to carry out in-vitro laboratory
    studies of its proprietary extract and more recently a randomized,
    double-blind, placebo-controlled clinical trial which was the substance of an
    important NZX release yesterday.
    
    I thank my Co-Directors for their considerable personal commitment to the
    company during the year and look forward with the help of our management team
    to executing on the Company's medium term business plan.
    
    CHIEF EXECUTIVE'S ADDRESS - Charlie Daily
    
    Accomplishments over the past 12 months
    In the past 12 months Promisia has made significant steps towards becoming a
    highly reputable company that develops first to market natural therapeutic
    products with scientifically proven efficacy and safety. Our flagship
    product, Arthrem(TM), now has both in vitro and clinical data to prove its
    efficacy.  Published results from the in vitro study have shown that
    Arthrem(TM) is a potent anti-inflammatory and the preliminary clinical trial
    results indicate that Arthrem(TM) improves symptoms associated with
    osteoarthritis.
    Other accomplishments for the company include:
    
    o establishing a platform to sell Arthrem(TM) in the US,
    o Grant funding from Callaghan Innovation for research and development
    o capital funding for future sales growth and marketing
    
    Direction
    
    Over the next 12-24 months, Promisia will continue to grow sales here in NZ
    and establish the Athrem(TM) brand in the US.  The US model is based on a
    recurring sales model. We look forward to reporting to the market as we
    establish a base of subscriptions for Arthrem(TM) in the US through our
    e-commerce platform.
    
    Branding and Advertising
    
    A 500 person survey about joint supplement products was carried out in the US
    on our target customers.  The high number of participants was required so
    that results could show statistical significance. The packaging, branding and
    tone used for content of the US e-commerce website were all developed from
    the detailed market research.  Investors can see the finished product at our
    US website, http://arthrem.com/ .
    
    We have also decided to change our NZ Arthrem(TM) branding to mirror what has
    been created for the US.  This change is taking place over the 1st week of
    June. TV advertising shown in New Zealand over the next 4 months will also
    use the new branding.
    
    Sales and Goals for next 12 months
    
    Sales for Arthrem(TM) in New Zealand are expected to grow on the back of TV
    advertising, and positive results from the clinical trial.  Our New Zealand
    distributer, Pharmabroker understands our product and the robust research
    that proves its efficacy.
    The market here in New Zealand is a great test market. But it has never been
    our intention to focus on New Zealand as the main source of income for
    Promisia.  The vast growth potential from selling our product overseas is our
    company's greatest motivator.
    
    Sales in the US will occur this year, with greater traction being gained in
    2016 and 2017. Our e-commerce platform allows us to communicate with our
    target customers in large volumes.  More importantly it can measure what
    forms of digital marketing are the most effective.
    
    Once our clinical trial results are published, we will register Arthrem(TM)
    as a complementary medicine in Australia, a category that does not exist in
    the US or New Zealand. We will be able to make more treatment claims in this
    complementary medicine category for the Australian Market. We would not
    expect to see any sales momentum in the Australian market until 2016.
    
     We also expect to launch our Canine Arthrem(TM) product in the US in 2016.
    More formulation work is required along with clinical trial work.  Canine
    clinical trials must adhere to the same ethical and regulatory guidelines as
    human clinical trials.
    
    Our growing program in Tanzania improves each year.  Promisia's company
    Director, Tom Brankin, has played a major part in establishing an innovative
    growing program in Tanzania.  In a recent visit to the farm in Tanzania, Mr
    Brankin confirmed that the growing program there is highly productive and
    sustainable.  The goal is to constantly develop a unique agricultural regime
    for growing Artemisia annua.
    
    Concluding Remarks
    
    Once published, the positive results from the clinical trial will give
    Promisia the ability to market Arthrem direct to medical health professionals
    and consumers who suffer the symptoms associated with Arthritis.  Promisia
    looks forward to reporting sales progress of Arthrem in New Zealand and other
    global markets and progress in the development and commercialisation of other
    therapeutic products using Promisia's proprietary plant extract.
    
    PRINCIPAL SCIENTIST'S ADDRESS - Dr Sheena Hunt
    
    At Promisia we believe that it is crucial to obtain scientifically robust,
    evidence-based data in order to gain the confidence of consumers, the trust
    and endorsement of healthcare professionals and to differentiate our product
    from the numerous untried and untested dietary supplements on the market.
    
    We recently conducted a randomised, double-blind, placebo-controlled, 12 week
    trial at the Rheumatology Research Unit, University of Otago, which was
    partially funded by Callaghan Innovation. The trial investigated the safety
    and efficacy of supplementation with Arthrem(TM) in participants aged 35-75
    with hip and knee osteoarthritis. We were very happy to announce to the NZX
    yesterday that we have positive and statistically significant preliminary
    results from the clinical trial. There were statistically significant
    improvements in a number of parameters, including reductions in pain, and
    improvements in stiffness and physical function for participants taking
    Arthrem(TM) at a dose of 1 capsule twice daily. There were no statistically
    significant improvements in the placebo group for any parameter. Arthrem(TM)
    was also safe and well tolerated.
    
    Last year we were very pleased to be awarded a grant from Callaghan
    Innovation to fund a salary for 6 months for a recent PhD or a master's
    graduate. We had over 50 highly qualified applicants for the position and in
    March, the successful applicant, Liam Harker, joined the company. Liam has an
    MSc in Advanced Technology Enterprise from Victoria University and his
    academic work has focused extensively on the development and
    commercialisation of new bioscience technologies. His primary responsibility
    at Promisia is new product development. His strong scientific background
    combined with commercialisation training is the perfect fit for Promisia.
    
    We have a number of new products at various stages of development, some in
    the joint health market for humans and dogs, and others in entirely new
    therapeutic areas. The aim of our comprehensive science R&D programme is to
    be able to provide and disseminate relevant clinical data from robust
    research. Proven clinical efficacy and safety will be our major point of
    difference for all our products.
    
    I am extremely pleased at how the scientific programme has progressed over
    the past 12 months and am excited about our future research plans.
    
    END
    End CA:00264891 For:PIL    Type:ADDRESS    Time:2015-05-27 16:15:32
    				
 
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