Dr. Heath: Protherics was formed through the merger of two small biotech companies almost four years ago. The opportunity over these years has been to acquire projects in late stage development and take them through the FDA. In fact, we have had two FDA approvals in this time period. The revenues from these two products, and I will tell more about them in a minute, now put the company in a position were it is trading profitably, which we did in the latter half of the last financial year, ending March 31, 2003. Thus, we have significantly de-risked our business compared to most other biotech businesses. We are using our own revenues to invest in our more exciting R&D programs, addressing much larger indications than those products currently on the market.
TWST: You’ve also added some growth through acquisition, haven’t you?
Dr. Heath: Yes, we have recently seen an opportunity to grow our top line further through the acquisition of a small OFEX listed U.K. company called Enact Pharma.
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