Hello Mike and All,
I am again impressed with the strong scientific backgrounds, expertise and education of the newly appointed gentlemen to MLSC's board. While this company is still a speculative shot...I think things are developing nicely.
August 13, 1997
MEDICAL DISCOVERIES INC (MLSC)
Quarterly Report (SEC form 10QSB)
MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.
DIRECTOR OF APPLICATIONS RESEARCH.
As MDI moves into the pre-clinical, pre-commercialization phase of its product development, it is an absolute necessity that the company establishes a well organized, thoroughly documented approach to investigating research applications, identifying research sites, and effectively monitoring progress. This requires that the company hire a proven scientist with a strong background in biochemical and bacteriological research; someone who is adept in the clinical
research setting, as well as possessing an astute scientific mind. MDI is pleased to announce that John Griesgraber has accepted the newly created position of Director of Applications Research. Mr. Griesgraber brings experience in the fields of scientific research, product development and biochemical research as related to metabolic disease states. He was formerly President, Founder and co-owner of Terra Marine Bio-chemical. Bio- organics and chemical processes for
international distribution. Previously, he held positions as a Research Associate at the University of California, San Diego, the Salk Institute, La Jolla, California, and was an Applications Engineer at IVAC Corporation during its early stages of development and growth. Mr. Griesgraber's knowledge,experience and familiarity with wound planning, organization and implementation brings renewed vigor to Dr. Novick's USA Scientific Research Team. SCIENTIFIC RESEARCH AND DEVELOPMENT PROGRAM IN JAPAN. "Electrically hydrolyzed saline" ("Function Water" as it is known in Japan) has received rapid and
intense attention in Japan. In support of this technology, the Japanese government has established a special organization to study the applications for this technology. The name for this organization is the Function Water Foundation. Japan currently has as many as 35 separate companies developing products to make the benefits of "Function Water" available for a wide variety of
applications. The activity in Japan is an excellent opportunity to develop key relationships that will enhance the company's understanding and development of these technologies as MDI prepares to
enter worldwide markets in the future. MDI must be aware, active and involved with respect to this technological development. The company has therefore appointed Shouji Kubota, Ph.D., to head up MDI's Scientific Research and Development program in Japan. Dr. Kubota's reputation is well established and widely respected. He is a specialist in the understanding and development of
electrically hydrolyzed saline solutions (Function Water"), and has published an authoritative text on this subject. Dr. Kubota is currently the president of The Society for the Study of water Design.
This Society was established in 1987, for the purpose of investigating and developing the potential and future applications of Function Water. Dr. Kubota has been president of this Society since
1995. Previously, Dr. Kubota was with the Hitachi Institute of Hitachi Seisakusyo where he had a distinguished 25 year career. He is also Adjunct Professor in the Engineering Department at
Ibaragi University, and serves as vice-president of the Society of Subtle Energy Institute.
ADDITION TO MDI'S MEDICAL SCIENTIFIC ADVISORY BOARD.
MDI has added Dr. Dennis E. Winson, DDS to MDI's Medical Scientific Advisory Board. Dr. Winson is Associate Professor in the Department of Periodontics at the University of Maryland, and maintains his clinical practice in Bethesda. Dr. Winson is an Officer in the American Academy
of Periodontology, and has been on its Board of Trustees since 1990. Dr. Winson's Expertise in the field of periodontal disease and dentistry is a valuable addition to our scientific and research
efforts as MDI investigates potential applications of its technologies in the dental area of medicine.
APPOINTMENT OF REGULATORY AFFAIRS CONSULTANT.
The strength of MDI will, undoubtedly, be based not only on its abilities to further develop and refine its core technologies, but also to produce revenue generating opportunities for the company.
In order to achieve revenues, MDI must chart a timely and an effective course in order to obtain FDA approval for the sales of its products in the United States. To this end, the company has engaged the services of Dr. Jur Strobos, MD, Esquire, of the law firm of Greenberg and Traurig, Washington, DC, to assist MDI as its Regulatory Affairs consult. Dr. Strobos received his medical degree from the University of Chicago, and has over twenty years experience in Medicine at both
Georgetown University and George Washington University School of Medicine. In 1987, Dr. Strobos received his Juris Doctorate from the University of Pennsylvania and insurance litigation, and Food And Drug Administrative Law. From 1992 to 1995 Dr. Strobos was Director, Policy
Research Staff, Office of Policy for the US Food and Drug Administration. At Greenberg and Traurig, Dr. Strobos' expertise is in the area of regulatory approvals as it pertains to biotechnology
and pharmaceutical applications.
These new appointment s and changes in MDI'S science and technology group will strengthen and advance the company's core technologies with a strong, effective and focused professional program under the overall leadership and guidance of Dr. Novick and his USA and Japanese teams.
PATENT ACTIVITY.
Recently MDI received notification from the United States Patent Office that yet another patent is pending on the company's core technologies. The latest Continuation In Part (CIP) is entitled:
"System and Method For Electrolyzing Fluids for Use as Anti-Microbial Agents". This latest news brings a total of 3 patents to the company, adding strength on which MDI can build and protect its business.
ADDITIONAL FUNDING IS REQUIRED.
It is clear that MDI will need to raise additional capital to fund our FDA and international regulatory approvals process. Additionally, each of the research and testing programs in progress continues to show promise and generate valuable scientific data, and therefore, requires
appropriate levels of funding. Management intends to raise substantial additional funds in private stock offerings in the near future in order to meet its near-term funding requirements with a special
emphasis in Japan. In the future, management anticipates the need to raise substantial additional funds in public stock offerings as well. As additional funds are raised, the Company intends to commence paying salaries to its officers. The Company also intends at that time to hire additional technical and administrative personnel. The bulk of any additional funding will likely be spent on continued research, testing, and patent protection with respect to MDI-P. |
