mtr announcement

Announced this morning. All sounds good. Expect announcement within 3-4 weeks re commercialisation deal. SP has looked stronger and stronger in recent days albeit still on smallish volume.

Regards.


SUCCESSFUL SHAREHOLDER PURCHASE PLAN AND COMPANY
ACTIVITY UPDATE
�� $6.8 million raised via $2 million SPP plus $4.8 million placement.
�� Commercial discussions advance.
�� Majority of patients recruited for the first stage of the Clinical Trial.
�� Second stage of the Clinical Trial to commence early 2004
_________________________________________________________________________________
SHAREHOLDER PURCHASE PLAN
Meditech Research Limited (“MEDITECH”) (ASX: MTR) today announced that the Shareholder
Purchase Plan (SPP) had successfully raised $2 million which, when added to the recent placement of
$4.8 million, brings the total raised to $6.8 million.
Meditech’s CEO, Chris Carter, said that the Company was “very pleased with the success of the SPP
and wanted to thank participating Shareholders for their ongoing commitment and continued
investment in Meditech”. This has placed the Company in a strong position to move forward and focus
on:
�� Development of its core technology, HyACT™ for oncology applications and the
development of HyAPE™ - another product incorporating the Company’s core technology
with an antifungal compound to treat systemic fungal infections;
�� The early stage development of a range of novel carbohydrate therapeutics via its research
collaboration with Griffith University’s Institute for Glycomics, and;
�� Maintenance and development of the Company’s Intellectual property portfolio and provision
of working capital for ongoing operations of the Company.
COMMMERCILISATION DISCUSSIONS
On 28th October 2003 the Company announced that it was in advanced discussions with an
international biotechnology company with the intention of entering into a collaborative development
and licensing deal. These discussions have continued to progress well and the Board remains confident
that a deal will be completed in the near future.
CLINICAL TRIALS
The majority of the Patients have been recruited for the first part of the HyCAMP™ Clinical Trial. It
is expected that this part of the trial will be completed in early 2004. Meditech’s Research and
Development Director, Dr Tracey Brown said that; “the Trial is progressing very satisfactorily and as a result there will be an immediate follow-on with the second stage of the Trial that will see a further
60 patients with advanced colon cancer recruited for treatment”.