News: Phylogica advances collaborations , page-10

SClurnge.

This tit bit of a promise certainly had the hair standing up on me -and we sit on such a low SP and even lower expectations by the buying market -Go figure?

PHYLOGICA ADVANCES COLLABORATION IN MEDIMMUNE ANTIBIOTIC
DISCOVERY PARTNERSHIP
PERTH, AUSTRALIA: November 21, 2011 – Phylogica Ltd (ASX: PYC, XETRA:
PH7), a leading Australian peptide drug discovery company, announced today the
progression of its collaboration with MedImmune, the worldwide biologics unit of
AstraZeneca, to develop novel antibiotics.
Phylogica and MedImmune entered into the collaboration in August 2010 to evaluate
Phylogica’s proprietary Phylomer® platform to identify antimicrobial peptides for
infectious disease. The joint research programme is on track and Phylogica has
recently completed the methods validation and progressed to the final stage of the
Research Plan with its Phylomer-based constructs.

Under the terms of the agreement, to date Phylogica has received payments of
US$1.5 million and is eligible to receive milestone payments of up to US$98 million,
in addition to royalties on potential worldwide sales.
Phylogica’s CEO, Dr Paul Watt, commented on the news: “We are delighted by the
progress of our collaboration with MedImmune to discover novel antimicrobial
Phylomer? peptides. Our partnership is working well and the fact that we have
advanced to the final stage of the Research Plan is very encouraging. The versatility
of our Phylomer? platform to identify novel drug candidates against therapeutic
targets with high unmet medical need is evident from the significant progress we
have made with each of our partnerships. Furthermore, there is significant interest in
our platform from other major pharmaceutical companies. We have multiple ongoing
deal discussions and we anticipate signing further discovery alliances before the end
of 2011.”