pipeline update, page-24

Some more promotion of Cellmid's pipeline. Details of the Biotecnol deal have appeared in the Proactive Investors current newsletter.

http://www.proactiveinvestors.com.au/companies/news/54356/cellmid-signs-agreement-with-biotecnol-into-immuno-oncology-sector-54356.html

The article's concluding analysis states:

"Biotecnol's strong track record in antibody drug development is significant.

With these novel drugs the subject of significant deals worth US$5 billion in acquisition and license fees of mostly pre-clinical stage compounds since 2009, provides a potential new area of growth for Cellmid.

Given that Cellmid’s existing midkine antibodies are expected to become clinic-ready by the end of 2014, there is considerable growth ahead for the company.

We continue to estimate a share price target of $0.041 to $0.068 for Cellmid within the next 12 months on its rising cash flows and progress towards clinical trials."

T7