It was a short meeting, all over in 50 minutes and all positive. Going by what was said, it's a company without a problem in the world.
Points I found interesting were:
The CEO said that negotiations were under way with a major U.S. drug company to partner marketing of Brevagen. This was brought about by the difficulty in launching any new drug in the U.S. these days. He said that any new drug needs to be launched in association with a diagnostic kit of some sort which indicates its need. Health insurers sort of insist on this. Brevagen has been found to be the suitable diagnostic to accompany the other company's new drug. He seemed pretty switched on by this. The identity of the other company will probably not be announced for several months yet.
CEO also said that there is a queue of good young biotech companies lining up for backing and they can't get it. So shy are investors and financial institutions that there are plenty of great bargains out there. Don't be surprised to see GTG acquire a new subsidiary soon with payment for it part cash and part share issue.
Merv got up and said a few words at the end. He is now CEO of Immunaid, about which he is pretty excited. Merv is a great speaker and is master of the hushed moment. He said that the future of Brevagen is 'huge'. The pause which followed was perfect, then he repeated with gravity, 'huge'. He also said that the market for Brevagen in Europe will be twice that of the U.S.
He said that GTG is 71% owner of Immunaid. That he is now spending most of his time in Europe raising funds to get Immunaid up and running. He said that this should be possible without GTG having to put up any money. Then he said that the revenue to be earned from Immunaid will be as big or bigger than Brevagen.
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