I agree it is "reassuring 2 c chairman taking shares instead of...

I agree it is "reassuring 2 c chairman taking shares instead of $cash" and at 2.5cps. This will take his interest to 4.13% or approx 13.5 mill shares. Maria also has a substantial number.

Hoping for another milestone in the not too distant future. Maybe a lucrative licensing deal or advice that La Jolla Cove Investors, Inc. http://www.ljcinvestors.com/index.HTML funding has been put to good use - "the funds will be used to accelerate Cellmids product development including the therapeutic programs for autoimmune iseases, cancer, heart attack and alopecia as well as for advancing the midkine diagnostic portfolio".

Have selected some highlights (some repetitive) from the annual report which IMO may see a positive move in the share price:

Chairman's report

"Some of the programs selected for funding are approaching completion, including the validation of the commercial midkine ELISA kit, the pre-clinical antibody trials, and the pharmacokinetic testing of midkine in rats.

On the diagnostic front, the Companys first product for the research market, an optimised and standardised midkine ELISA system, is close to commercial launch. The clinical
validation programs for a suite of early cancer diagnostic applications are also well advanced.

The Company is managing its human and financial resources so as to give priority to programmes that are closest to revenue or have the potential to increase shareholder value the most. This means that in our therapeutic portfolio, in addition to Midkine for heart attack, we can presently advance one of our antibody programmes to the clinic".

CEO's Report

"Midkine ELISA First product to market

The most important product development objective for the diagnostic portfolio has been to complete a reliable, accurate and easy to use midkine blood test; a midkine ELISA. This has been crucial for the commercialisation of the diagnostic programs but also essential in supporting the Companys therapeutic initiatives. As one of the key achievements of the Company during the 2010 financial year the practical component of the development of the midkine ELISA has been completed.

Validation on dilution assays, healthy and patient blood samples have now been finished and the final data analysis and report on performance is expected during the third quarter of calendar 2010.


In addition to supporting the Companys internal programs the midkine ELISA also represents the first product for the research market. Distribution arrangements with research reagents companies are currently being negotiated pending the final performance report. Initial market is expected to be scientists and companies with an interest in midkine diagnostic and/or therapeutic research".

DIRECTORS REPORT

"CAN104 Project

"The Group has commenced its veterinary cancer diagnostic program with the CAN104 project to assess the value of midkine for the early diagnosis of the most common cancer types in dogs including mammary carcinoma, hemangiosarcoma, osteosarcoma and specified skin tumours, mast cell tumours, melanomas and squamous cell carcinomas.

Recruitment of blood donors is progressing according to plans and the collection process for the first 100 blood samples Is expected to be completed within 6 months".