not happy, page-16

Well Mr Viralytics, approx 25 years, very little even in the way of animal testing relayed, Pre-ind stage 3 becoming a distant memory, Your product has promise but the story of the Rabbit and the Hare comes to mind, and I wonder if the addage is not reversed in this case. The world of genetic engineering is opening and more promising products are emerging all the time at an ever increasing frequency. The latest from a highly credibly scientist with proven credential and in short time frame. Prevention not cure, so still a place for Viralytics at this stage.

July 19, 2010 9:27am ET | By Maureen Martino

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Andrew Forrest, billionaire CEO of the Australian mining company Fortescue Metals, has invested AU$3 million in the Ian Frazer-backed biotech company Coridon, which is developing DNA vaccines for a range of diseases. Frazer, who chairs Coridon, earned acclaim for his work on the cervical cancer vaccine Gardasil.

Forrest's medical device company Allied Medical has raised more than AU$4 million and made the AU$3 million investment in exchange for a 38.6 percent stake in Coridon. It marks the devicemaker's first foray into biotech. The developer is formulating vaccines that both prevent and treat a wide variety of diseases like influenza, hepatitis C and cancer. Allied CEO Lee Rodne says his company was attracted to Coridon because of the possibility of a broad pipeline. "It's a platform technology, which means there is the ability to have more than one product line and more than one direction. For a biotech that's an important investment criteria."

Coridon has applied its technology to a proof of concept animal study targeting the herpes simplex virus 2. The company is working on preventative and therapeutic vaccines for the disease.