Plse read old article. Could have some relevance now.
Benitec hopes Merck deal will silence critics
November 6, 2006
Advertisement AdvertisementINTEREST has been rekindled in the tiny Benitec biotech company after global pharmaceuticals giant Merck paid $US1.1 billion ($A1.42 billion) for a similar company in the US.
Spurned after its shares hit $1.20 in late 2003, Benitec sank as low as 2.2¢ in August before surging from 4.1¢ to 7.9¢ earlier this week.
"I thought the intellectual property was worth far more than that, so I agreed to come on to do a turnaround," said chief executive Sue MacLeman, who joined the company in August.
Ms MacLeman said Benitec had world patents over one-third of all the foundational IP available in the world for application in the emerging science of gene silencing.
The other two companies in the world with similar patents were Alnylam Pharmaceuticals and Sirna Therapeutics, both of the US.
Last week Merck bought Sirna for more than twice its previous sharemarket value.
"We are in quite a powerful position," Ms MacLeman said, "not that it's reflected in our share price.
"But I expect someone is going to come sniffing around now and there'll be more interest in the shares."
Interesting how she ended the article !!!
Good things take time....(my quote )
BLT Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
