email by iain, page-6

Hi wazza, here are your replies that you asked me to post:


(IK) I can't comment on details of AIM at the present but feedback to date is that we have been very well received....let's see how this translates to $$.

What I can say is we have had terrific press coverage here - try Google for articles in Times, FT, Evening Standard and Independent (Sunday) et alia.
We do have plan 'B' and 'C'!




(IK) The original Arizona patent estate to which EpiTan enjoys full access, begins to expire in Sept 2006 (USA) and progressively thereafter in EU and Australia (2007/2008). Consequently, it is therefore highly probable that, early in Melanotan's in-market life, the AZ patents will have expired.

Contrary to common views and paradoxically this is good news for EpiTan. Why? Two reasons.

Firstly there will be no need to make any further license payments to Arizona and no over-riding royalty on in-market sales. Secondly, EpiTan has now started to build its own patent estate from data/discoveries made during the clinical trials. There are three which have been announced, the most powerful one we expect to be over the sustained release. Full international applications have been filed and we eagerly await their granting. Thus we are confident that for many years, EpiTan will enjoy a significant market exclusivity, not just that afforded by Hatch-Waxman etc.

On the subject of the share price, I too am disappointed. Expert commentary by Bioshares for example says that the sector has been oversold - brokers have been telling their clients for months now to switch into resources etc. There has been little attempt to try and stay with companies putting out good news or "winners" which I believe EpiTan to be.