Hi everyoneI have just received a response from Mark Compton CEO...

Hi everyone

I have just received a response from Mark Compton CEO of SIE.

Very pleased with the early response and from the CEO himself. Understandably he can only comment on what has been released to the market so the response does cover old ground.

I will continue to hold long term because SIE is continuing to forge ahead in the Asia Pacific area and the management are delivering product registrations and sales are increasing.

Cobby


Dear Mr XXX


Thank you for your email.

In answer to your questions may I offer the following – bearing in mind that I can only refer to information already in the public domain.



SciGen’s business continues to grow as evidenced by the announcements to the ASX and our recent Annual Report. Indeed for FY03 revenue totalled A$3.4M which was up 167% from the previous year.

As part of my presentation to the AGM in November [which was released to the market], I showed unaudited results for Q1FY04, which demonstrated continuing sales revenue growth – [for a copy of the presentation please refer to our website www.scigen.com.au ]. It should be noted that the vast bulk of early sales revenue to date in the company has come from one product – human growth hormone – and the company now has three products registered – namely human growth hormone; hepatitis B vaccine and recently human insulin.



Since our AGM, the company has announced a further product registration, being human insulin in Vietnam, with sales commencing in coming weeks. In addition, we have announced a commercialisation agreement for human insulin in China and we are now working on the registration of insulin in that territory.



As for India, we have previously advised that our registration of insulin in that territory is taking longer than anticipated due to regulatory processes, but we still expect final registration before the end of this FY – noting that the product already has GEAC approval in India. Similarly, for other registrations achieved or in progress, announcements already made to the market give a clear picture of these.



As for the market valuation of SciGen, this is a matter largely determined by investors, brokers, analysts and general market conditions, over which the company has little control other than to continue to pursue the business plan, keep the market informed of the company’s progress and use every opportunity to communicate with the investment community about the company. The company continues to do all of these things and investors and others need to make their own assessments based on this information and their own research and expertise. Other than some delays such as the insulin registration in India, the company has been progressing largely as planned. However, it is also important to also bear in mind that regulatory authorities can ultimately determine time frames as they have their own priorities and sometimes these might not accord with our own assessment of the time it might take to process a registration application. Also, the regulatory environment is a fluid one and occasionally new regulations/laws come into effect which might require the company to provide more information or information in a different form. Our very experienced Regulatory Affairs people are across these issues and we work to ensure that we can anticipate these changes as much as possible.



SciGen’s business continues to grow and I do appreciate your support of and interest in the company.



Best wishes

Mark Compton