this stock has plenty of upside potential - - a "landmark...

this stock has plenty of upside potential -

- a "landmark agreement" with Canon of Japan
.
The agreement grants Canon an exclusive worldwide licence to market Psiron's inhaled drug delivery technology, Vapotronics. In return, the biotech group will receive a $US1 million ($1.76 million) fee up-front, royalties of 0.5 per cent on all devices sold and 10 per cent of the royalties received by Canon from pharmaceuticals companies.

Psiron has estimated that the potential market for drug inhalation products is forecast to grow to $US22 billion by 2005 and that this particular type of technology could account for about $US5 billion.

The commercial upside for the company based on the terms negotiated is enormous, and with a company like Canon involved.