Bioprospect report below includes summary of new termite product...

Bioprospect report below includes summary of new termite product and update on diabetes and alzheimer's patents. Hard to work out from the report what might be pushing the increase in turnover and price movements, see announcement today for full details,any thoughts ?
Director’s Report (continued)
University of Western Sydney (UWS).
The UWS have been working with BioProspect for a number of years and managed the
TERMILONETM trials at Narrandera for the 2 year timber field study completed in September 2006. In
January 2007 BioProspect appointed UWS to conduct regulatory data generation work for
TERMILONETM. UWS will be the lead contractor and will manage and complete trials and other
development projects to ensure successful registration of TERMILONETM
The UWS, led by Associate Professor Robert Spooner-Hart will generate data on the compound in
association with Southern Cross University (Centre for Phytochemistry and Pharmacology) and
CSIRO (Ensis).
Stage 1 of the project will cover bioassay analysis, analytical methods and biochemical properties on
the compound and the end use products being developed by BioProspect and other contracted
parties. This is expected to take approximately 6 months with key milestones related to efficacy of the
compound on termites tested under Australian and international standards.
Over the next 18 months BioProspect will generate data on its natural termite compound with the
objective of gaining registration in Australia in mid 2009 for the active constituent, Eremophilone Oil
and at least three commercial products that will use the TERMILONETM name.
Under the arrangement with UWS, BioProspect will retain all intellectual property and commercial
rights developed with respect to TERMILONETM whilst UWS will be granted a non-exclusive royalty
free licence to use the project intellectual property for research and education purposes other than
commercialisation. On completion of stage 2 of the project, UWS will assign its right title and interest
in any AP778 UWS intellectual property to BioProspect.
ASTRUM THERAPEUTICS PTY LTD
Astrum’s drug development program continued to move ahead during the quarter with synthesis of
new chemical entities being performed at facilities in Melbourne. Since June 2006 Astrum has had
two new chemical entities (NCE’s) produced. The optional delivery of an additional four NCE’s may
take place in March quarter 2007. Astrum is currently negotiating with a second synthetic chemistry
group in Perth, Western Australia for synthesis of four NCE’s that Astrum believes will round out the
initial chemistry needs for the drug development program.
Astrum currently has three patent applications at various stages of submission/review. The Astrum
patent related to novel NCE’s that prevent the death of pancreatic beta-cells received a favourable
initial response with respect to novelty from the European patent office (EPO). The EPO suggested
restructuring the initial single patent into several smaller patents. Astrum has approximately one year
to determine the best course of action for this patent’s final structure.
The second patent related to novel medicine combinations aimed at treating diabetes and diabetesrelated
illnesses and, the third patent relate to Astrum’s drug technologies for the treatment of
Alzheimer’s disease have not yet been reviewed by the EPO. None of the Astrum patents has been
reviewed in full by the United States patent office. Astrum scientists continue to identify and develop
other molecular targets and clinical targets for diabetes and diabetes-related disorders.
Qcide
The company continues to work on achieving a commercial outcome for Qcide.