sbp meeting today., page-2

From another site -
Observations from SBP meeting on 10th June:

1] Steve Carter still in the states at BIO2004 expo which has to date seen very good interest from key players in the field.

2] PH 1/11a trials have slipped to now having an expected completion time of Dec/Jan. Only 8 patients on trials at present with 9th just signed up. They need 15 to 17, not 25 although the larger the number the better.
The Board met with SCGH and Dr Millwood [who is running the trials] to voice their concern at slow progress. Result is another meeting 22/6 with the key players at SCGH and Solbec to document processes and procedures for enlisting additional patients from now on. Kiernan stated the delays were caused by "administrative procedures at SCGH and a lack of support from SCGH in getting the job done". Took a long time to act on this fact IMHO.

3] New Director [possibly 2] with medical background specialising in the cancer research field being appointed "very soon" said Kiernan. I believe this IS the case and will hopefully be announced on Steve Carter's return from BIO2004. There is a key person they have been targeting and impression given by Director's and 2 large shareholders at the meeting was yes, this is about to happen. My guess is Dr Nagourney from California who has been closely involved with SBP over about 2 years. Whoever it is, their profile will supposedly make many in the Oncology field sit up and take notice. = market re-rating of SBP.

4] Director's advised that they would be paying an external Company to assist with the market re-rating/marketing of SBP as a Company, targeting medico's and key investors/analysts in the Oz/international biotechnology field.

5] Both directors present gave their opinions of where the share price should be = 35-50c.
Hence the need for 4] above.

6] PH 11 trials will comence in Oz about 6 months after PH1/11a are completed; so looking at mid 2005 for PH 11. There is a strong likelyhood that this will be about the time a major pharmaceutical manufacturer is expected to get involved in an alliance with SBP to add their capital at what becomes an expensive stage of product development.

7] Psoriasis PH 1 trials commencing in Adelaide and, in the Directors' opinion, this may well be the area of first commercial use of SBP002.

N.B. Huntleys, Southern Cross Equities, C K Locke and Partners; are just 3 out there who are writing up SBP in their recommendations.