meeting, page-4

re: meeting\full presentation I've taken this from the SBP board on sharescene.com

The poster goes by the name of "Ivy".



I went to last night’s meeting. This is the first Solbec meeting I have ever attended. The room was packed and as a result I was seated near the back.
I would say there were over 100 people attending.

I wrote down notes as the meeting went along so please excuse me if the information seems a bit jumbled. I am writing them in order of the proceedings and as questions were asked. Here goes:-

Anthony Kiernan opened the meeting, introducing the board. He made a special mention of the new board member Prof Papadimitriou who he invited to speak. Papa introduced himself discussing his history in medical research, saying that he has worked in London, Holland and New York. One third of his work has been on cancer research. He said that he was very pleased to be on the Board and he believed the platform of drugs had great value.

Steve Carter did a slide presentation and questions were asked by the audience as he went through different aspects.

The first question was about the company cash burn in the following year.
At present they have $2.8m. The cash burn is $200k per month and will increase to $300k per month. At this time the company has enough cash for one year.

A question was asked about the original time frames and how they had changed. SC said that in the very beginning the company was considering skin cancer but this had evolved into other cancers. The delays were incurred obtaining insurance for the trials. Also the Ethics Committee took 7 seven months to approve the phase 1 trials, instead of the expected 3 months. To get to the stage that we are now at it normally takes 6-8 years. We have got here in 3 years.

At present 55% of the shareholders are from W.A
41% from other States and the rest overseas.
This was something that would be changing in the future.

He then discussed patents in detail and the importance of these.

Present Phase 1 trials were then discussed. Out of the first 5 patients assessed, 2 have shown tumour reduction. Normally for a company to see 1 patient out of 20 with tumour reduction at this stage, would be a huge achievement. The other patients are still being treated. There is 1 mesothelioma patient who has very advanced Mesothelioma. The tumour volume is 7 litres. He is seeing palliative relief so far. He said that in phase 2 trials the mesothelioma would not be so advanced. He is still on the trial.
He did say that he wished to express gratitude to these poor patients who in the last weeks of their lives came to the hospital every second week for their treatment although they were very sick.

Because of the mode of action patients would not become resistant to SBP002.

The Phase 1 trials have already met their endpoints. They have enough data to proceed to Phase 2 but they want to continue on in Phase 1 to gather more data to ensure that they have established the optimum dosage required for best results in Phase 2. They want to measure not only the rate of cancer cell death but the immune reaction and palliative benefits as well.


Phase 2 would involved about 35 patients. These trials would be conducted in Australia, U.S.A and possibly Europe,

Dr. Robert Nagourney is conducting tests in the U.S at the moment.
As well as mesothelioma, he will be targeting renal cell carcinoma, NSCLC ( lung cancer), colorectal cancer, melanoma and sarcoma.
He will be using SBP002 with all the above cancers in combination with a cocktail of other chemo drugs to find out the best possible combinations.
This will save years of work in future human trials.
The company will pay $90,000 for this work Nagourney will be subsidizing part of the costs.(I think that's what he said)

Psoriasis trials - Someone asked if they had done any trials on any humans to date. He said they had used the treatment on 3 patients with good results. One patient had a very extreme version of the disease and his life was really difficult. He said his wife had to vacuum all the time because of the extreme flaking. After the SBP002 treatment his disease is under control after 20 years. His wife thanked the company and said that their life had changed. Her husband could now to the beach etc without everybody staring at him.

SC did say that SBP002 could not cure psoriasis because it is a genetic condition but it can keep it under control without side effects.

The current topical treatments are Vitamin D and Coal Tar treatments.

Someone asked about Deals and Big Pharmas.
A deal takes about 18 months, usually with 13 meetings with 26 people.
Once initial agreement has been reached it takes 40 weeks to complete.

Solbec are already in the middle of this process.

Solbec has had 18 meetings with biotechs.
8 with majors
5 with large independent
5 with mid/large
They have had repeat meetings with 3 of the large pharmas.
He did say 5 meeting with Glaxo.
Also partners for the psoriasis treatment have been recognized.

Some asked about synthesizing the drug, he confirmed that Solbec at this stage would not be doing this as there were 20 steps in the process and was expensive. 50 acres of land would be required to produce enough drug worldwide. He said that the plant produced fruit mostly in summer and that they were now harvesting everything and freezing it to be used as needed.

The production of the drug could be kept by the company or licensed out in another deal.

There were questions about diagnostics. SC said the company would be licensing this out. Veterinary use was also touched on.

Someone asked if they were involved in any of the recent mesothelioma media debate. He said that the company have spoken to different groups and had spoken to John Laws a few days ago.

There were many other questions. I didn’t manage to take notes on these.

Oh, he did say that one of the Big Pharmas had rang the company the other day.

I didn’t get to talk to any Board members and so still have not met one. It was just too crowded to hang around after the meeting. Hope this is helpful. Others may be able to fill in the things I have missed or got wrong due to my indecipherable scribbles. CHEERS