email reply from phylogica management, page-9

The CD40L program commenced in 2006 with a $2.27mil Govt grant. Hits were found and in-vitro studies were done during 2007 and 2008.

By the end of 2009, they had three leads that were undergoing in-vivo testing. To extend half-life in the bloodstream, PEGylation was used. Also used was a high affinity binder to serum albumin developed by a Swedish company, Affibody. At this time they entered into an agreement with US-based Aegis, to evaluate their technology that delivers peptides by the inhaled route.

In 2010 PYC screened their 'next generation' of libraries which yielded hits more potent in-vitro, than the original candidates.

In 2011 these leads were enhanced using Pepscan's CLIPs chemistry which staples or constrains peptides. It was claimed this improved in-vitro potency.

In 2012 in-house structural modelling was being used on the peptides to optimise activity.

Now in 2013 the peptides are being tested in-vivo and PYC are building a 'data package' that includes benchmarks required by prospective clients.
.............

Seven years to get to these latest in-vivo studies.

Does that sound like a lean mean Biotech company beating rivals to the pharma deal??