Ann: Appendix 4C - quarterly, page-17

The following was just posted on the PAB thread. I thought it might be appropriate to the discussion -

What do I mean by longer strides?

Biotechnology involves complex science, specialist terminology and uncertainty. One life science play can look pretty much like another at the surface – but some are more likely to be winners than others.

Biotechnology companies are expensive businesses, not academic exercises or hobbies. Their management needs to have shareholder payoff as front-of-mind and not an afterthought.

That said, a credible biotech needs some people with ‘PhD’ and ‘MD’ after their names to steer the enterprise towards a valuable new medicine (or two).

Biotechnology companies are built upon a foundation of good science, detailed plans, testing and intellectual property (patents and/or know-how). These require a dedicated in-house team of experts working hard and with purpose, ensuring step-by-step care and precision.

‘Teamwork’ is the key here: after all, no Australian Rules football team has won a premiership with 18 gun forwards and nothing else.

The ideal biotech should have diversity in the team – scientists, deal-doers and people who glue it all together.

If the aim is to start selling product then a multidisciplinary ‘go-to-market’ team is essential.