I am happy that Pfizer has put the pfizz in Benitec's...

I am happy that Pfizer has put the pfizz in Benitec's shareprice. I am sure that this recent announcement of the Pfizer funding of the pre-IND research for the Tacere use of Benitec technology has got everyone interested.

The bad news, comparatively, is that the Pfizer deal with Tacere is relatively minor news.

What you all have been ignoring is the significant news around:

1) Restructuring the license/royalty deal with CSIRO to remove the "poison pill"; and

2) Significant progress in the awarding of patent claims associatied with the core DNA Directed RNAi technology.

(This news of Jan/Feb is much more significant than the Pfizer announcement).

I say "bad news, comparatively" for the following reasons:

1) The Tacere HCV deal will see a minor amount of value to Benitec compared with a prime deal around the City of Hope HIV therapeutics.

What is a cure for AIDS worth? Even better, imagine clawing your way back from a cancer induced by AIDS:

http://www.youtube.com/watch?v=iV1x1HvhjUQ

2) Hepatitis B, in asia, could be as significant as Tacere's Hepatitis C therapy.

Both of the above reflect a much higher degree of Benitec ownership than the insigificant Tacere stake.

There are the assets - Benitec has rights to 5 Alnylam InterfeRx licenses. Each of these licenses allow freedom to operate across Alnylam's vast IP estate for one specific disease state.

There is significant value in the Benitec IP estate. There is also significant value in the various assets Benitec as accumulated. In my personal view, removal of the CSIRO "poisoned pill" opens the way for the value of Benitec to be unlocked by a "transaction" - selling the company.

At the present point in time - Benitec should be north of 20 cents per share with a recovery target of 50 cents per share. I personally believe a transaction is possible at $1 per share - apparently this view is considered conservative (others are talking north of $1).

Watch the open on Monday ...