face-to-face

The Chairman's Report accompanying the Annual Return for 2011 is worthy of contemplation in assessing the short-medium term horizons for Phylogica. Presumably, Dr Doug Wilson penned the Report close to its release date, 24/10/2011. Despite looking back over achievements in 2010-11, its also looking forward based upon the Chairman's astute observations of behind-the-scenes corporate developments.

"There are extended conference calls every two or three weeks to monitor progress and to share insights. These meetings have created very tight bonds of professional respect between Phylogica and our partners. Some of these meetings have included very senior R&D executives from these leading pharmaceutical companies, a robust measure of the respect now accorded Phylogica. There are now increasing face-to-face meetings at the highest levels with our clients."

Its easy to dismiss comments with a 'that's interesting' but 'show me the money' way of thinking. True, we are all waiting on the highly anticipated announcements of new partnerships and milestones on existing partnerships. Its a risky business and they may never come. However, the Chairman appears to be clearly enunciating an altogether different outcome.

Face-to-face meetings between the executives of Phylogica and the 'highest level' executives of some of the world's largest pharmaceutical companies suggests a series of collaborations which are both positive, exciting and robust.

The upcoming AGM will vote upon a Long Term Incentive Share plan for directors. Watt and Woolf will be incentivised with a total of 15m shares vesting between June 2014-June 2016. Clearly, the directors have seen the future and like the prospects for success.