try before you buy

Harping back to the bullVestor interview, Woolf discussed the interest by Big Pharma in the Phylogica library.

"We get asked by all our partners and prospective partners whether they can have our peptide libraries in-house," said Woolf.

The peptide libraries have generated immense interest representing a new wave in drug discovery. Doug Wilson recently described Phylogica as an Oases for Big Drug Companies.

Woolf continued, "If they want to have the libraries in-house they have to buy the company. We're certainly had those discussions but not at valuations we like."

Phylogica is currently in the phase of building valuation for a possible trade sale. It has a resource which is increasingly being recognized globally as holding the key to "undruggable or intractable disease targets". The queue to sign collaborations represents the interest by Big Pharma to try before you buy.

Try before you buy is not my expression. I recently discussed the issue with the CFO when he was overseas at one of the many conferences attended by Phylogica executives. The more deals, the greater the research opportunities to source peptides for disease targets put up by Big Pharma; the greater the competitive tension to own outright the peptide libraries. Of course the drug leads being generated by Phylogica need to lead to commercial opportunities hence the rush to Try. Ability to meet milestone targets will be the shareholders guide to success.