The fundamental value in Phylogica centers around:- Phylomer...

The fundamental value in Phylogica centers around:
- Phylomer discovery (billions of compounds in the 5-50aa; and
- Screening technologies for the 1,700-3,000 extracellular 'druggable targets'

What we have seen, recently, is the extention of application Phylomers to intracellular 'druggable targets' (say, 7,000 new potental applications).

The core technologies here are:

- The EET - which optimises delivery of a payload to the interior of cells; and
- Screening technologies to measure the uptake within the cell.

All of this is a valuable, general set of 'platform' technologies.

In commercial terms, we have a Janssen deal before us to potenially deal with one of the 7,000 drug targets.

We now have 6,999 targets to explore ... with technology that we own 100%.

With the 3,000 extracellular targets, we have to compete with quite a number of other platform technologies. With the frontier opening to 7,000 more targets; here, there is very much less competition.

Remember, one drug that is a block buster could be worth multiple $100millions to the company. We have 10,000 chances, of which 7,000 are pretty much exclusive.

"All I ask is an unfair advantage" <- this is pretty much what we have, in Phylogica.