Hi Robin and All,
I haven't posted in a while as I had no new info to report. Called Austin Rand at Biotech today, and he gave me a bit of a timeline for the company. I have decided that whatever info that I could gather I would share, so I will not hold anything back. I think it is in all of our best interest to be as forthright as possible. Take it for what it is worth...
Sales results will be released shortly, on both the December and March quarterly statements. December statements will be available shortly.
They have had four large pharmacutical(sp?) firms interested in Diab. One in particular is looking for a formulation to replace a product (called glucophage(sp?)in Europe, metaformin(sp?) in the US) which will lose its patent, and be available for generic production in 3 years. I specifically asked him if it was Merck & Co, and he said it was. It looks like a trial of the drug will begin in April, and, if all goes well, a licensing agreement will follow.
Check out Merck's webpage to find out more. I scrolled through it today for about an hour, but couldn't come up with specific drug names that they presently have patented. merck.com!!sHPG81oa_sHPG81oa_/
The 20F filing for the SEC is now being finalized, and all deficiencies in the requirements are being filled, and is scheduled for a March 24 completion date.
I asked for more info on the product and received via fax a three page information circular on it. Doesn't really add anything all that useful. What I would like to see is some detailed clinical trial info from China. (I have a friend who could interpret if it is in Chinese, either Mandarin or Cantonese) Let me know if any of you have this info.
Finally, the listing on the OTC bulletin board is being finalized. Look for Biotech to be listed in 2-4 weeks. According to Austin, this will add alot of credibility for possible US investors as many of them have raised questions about the Alberta stock exchange.
Anyway, that is the info that I have received as of today. I suggest we stay on top of Biotech and find out as much as possible in the coming weeks.
Cheers,
Darrin
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