My hard copy of the Chairman's Update arrived this morning. Re-reading the update covering recent developments, I noticed one extremely salient point which I had previously glossed over.
Wilson, in discussing the collaboration with Cambridge University, makes the observation that the application of phylomer libraries to the discovery of new drug targets has been "so productive and such an advance on previously available search tools" that it has justified the establishment of the spin-off company - Phenomica.
Let's just put the phrase "such an advance on previously available search tools" under the microscope. Cambridge University, one of the top three universities in the world, has apparently made a judgement that the phylomer libraries are a quantum advance in technology.
If we weren't paying attention to the point, Wilson goes on to describe how Phenomica is assembling a top class team to drive the enterprise which will be located in the Cambridge biotech community. The Cambridge biotech community is the scientific 'hub' which spawned Cambridge Antibody Technology which was acquired for over one billion dollars by AstraZeneca. Now, where have I heard that name before?
PYC Price at posting:
6.7¢ Sentiment: Buy Disclosure: Held
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