Ann: December 2020 Quarterly Activities Report and Appendix 4C, page-15

Thank you No Vice,

A very nice compliment & only just a little snippet really in regards to the quarterly. Fortunately our Ph2 & analysis is post-hoc in CANVAS trial, so we are lucky in this respect that it’s not a new trial with fresh recruitment of patients in a pandemic.

The DKD space is really heating up & that is not a bad thing for us. Multiple big Pharma vying in this US$6 billion annual market & that would have grown now with new indications in both DKD/CKD & companies to watch are AstraZeneca (Forxiga/Farxiga) Eli Lilly/Boeringher (Jardiance), Johnson & Johnson/Janssen as we know & first approval for this indication in SGLT2i class. There is also Finerenone (Bayer) a seperate class of drugs, but FDA priority review for CKD/DKD/CVD.

I think it’s also important to remember that PIQ have patents in place for all kidney disease (CKD) for PromarkerD panel of biomarkers, not just DKD across EU & USA. This could be quite important now in foresight as some of these SGLT2i applications are for CKD treatment in non-diabetics. EU granted 2016 I think & USA 2017. I invested here late 2017 or very early 2018.

Like any biotech stock, it’s been a roller coaster, long waits during trials, sometimes misunderstood clinical trial results, the whole immediate gratification thing. I think we need to remember it’s a process through validation & regulatory bodies globally & we have progressed so far since then.

COVID-19 has caused everyone grief in this sector mostly, but we have been one of the lucky ones, although revenue from analytics down.

Rollout out of vaccines starting this month starting with very high risk HCW including Quarantine, Ambos/Transport staff, ED & Critical Care staff. Vaccination Hubs announced (Pfizer Vaccine requires -70c freezers for storage).

Hoping everyone in WA is OK, 5 days isn’t much for a lockdown in the big scheme of things, especially if it turns out to be the UK or SA strain on genomic testing & do the contact tracing, isolation & testing to contain it.

GLTAH