Company presenting at Techknow in Sydney (today)/ Melbourne (tomorrow), page-64

Because the MPL in Zolvix will not cross the Blood Brain Barrier

This is not off the shelf MPL

Monepantel reformulation successfully increases dose and improves taste
30 January 2018 – Perth, Australia: PharmAust Limited (ASXAA) has successfully
identified a reformulation method that can be used to prepare monepantel for clinical trial.
In collaboration with BRI Pharmaceutical Research, PharmAust has shown that micronisation
of monepantel successfully meets the company’s minimal requirements for dosing, taste
masking and oral bioavailability.

Micronisation refers to a milling technique that grinds monepantel into a fine powder that after
further processing can then be packaged into capsules or tablets. Depending on the size of
the capsule or tablet, this approach can deliver over 10 times more drug than the current
formulation.

In terms of taste, studies in animals and humans have shown that dry powder monepantel is
much more palatable than the liquid form of the drug. Further, micronised monepantel is
amenable to a number of conventional taste-masking approaches that can further improve
palatability.

BRI is currently optimising the micronisation method to identify the final formulation. Once
established, the formulation will be scaled to produce sufficient drug for clinical trial. We
anticipate completing the reformulation optimisation phase by Q1, 2018 with scaled production
and toxicity studies to commence in dogs during Q2, 2018

There's more value in the cupboard at Pharmaust than on the current MC ,, NZT

Commercial Valuation would identify 10 years of work not just the last 12 months NZT