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TWST: What is the size of the growth potential of the markets that you are serving?

Mr. Mossinghoff: We (Nasdaq:ISPH) have a variety of opportunities in terms of size of commercial potential. We have several products in development with clear blockbuster potential, that is peak annual global sales potential exceeding one billion dollars. The first one would be in chronic bronchitis and the second one would be in sinusitis, both of which are prevalent respiratory disorders. For example, there are 35 million patients diagnosed with chronic bronchitis in the eight major pharmaceutical markets in the world, and up to 15% of adults suffer from sinusitis each year. The dry eye market is also important; there are 10 million patients afflicted with dry eye in the US alone. The cystic fibrosis market is smaller with about 75,000 patients in North America and Europe. However, cystic fibrosis treatments qualify for orphan drug and fast-track regulatory status, which affords the company certain advantages in bringing this product to market.

TWST: Do you have your eye on a market that would extend well beyond the United States?

Mr. Mossinghoff: We intend for our products to be developed and marketed worldwide, so patients in all countries can benefit from these breakthrough treatments. And we’ve already taken steps to this end by engaging corporate partners with capabilities outside the US. We have three corporate partners in Asia alone, a very promising area for growth in pharmaceutical sales. These partners are Kissei, Santen and Kirin. We are also engaging corporate partners in the western world for the same applications. We have a major corporate collaboration for the world outside of Asia with biotech powerhouse Genentech, and we expect to be signing additional partnerships in the coming years with global pharmaceutical companies to help us make sure that these products are optimized in North America, Europe, Asia, and other areas.

TWST: Have you done a lot of alliances already and is that the path that you will continue on?

Mr. Mossinghoff: The company has a hybrid strategy regarding the commercialization of our technology. For the small and medium-sized indications, at least in the US, we expect to keep a significant portion of the commercial rights in order to maximize the returns to Inspire. We are actually planning to build a small marketing organization in the near future to help bring these indications to market. With the larger opportunities, such as chronic bronchitis and sinusitis, it is beyond our scope to handle the marketing and sales requirements. For these products we plan to rely on major companies such as Genentech to provide the commercialization effort and expertise. We plan to make use of partnerships for all ex-US efforts.

TWST: Do you see any significant changes or developments in the markets within the next few years? Where would your best opportunities lie or your best single opportunity lie?

Mr. Mossinghoff: I believe Inspire is unique in that we are bringing forward a breakthrough approach for each disorder we are addressing. This puts us in a position where we’re not relying on the current structure and size of any individual existing market. For example, in chronic bronchitis there are already inhaled bronchodilators, steroids and antibiotics prescribed by physicians in an effort to treat the patient. Inspire is bringing a new approach by enhancing the lung’s ability to hydrate and clear the retained secretions that frequently occur in the disease. Therefore, our product will be used even if newer bronchodilators, steroids or antibiotics are developed. We bring an additional important and needed approach to the treatment armamentarium.