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CORPORATE STRATEGY

GeneMedix plans to build on its core expertise of protein development scale-up and manufacture as the company grows.

Phase I of the Company's development has been to focus on a portfolio of therapeutic proteins. Manufacturing processes are being developed and transferred to sites for commercial production. GeneMedix main manufacturing and development facility is in Ireland, which is currently undergoing significant expansion and new potential facilities are being sought.

Phase II involves the introduction of additional cell lines to complete the product portfolio and initiating the development of new formulations. New products are now being introduced through the Companies collaboration with Reliance Life Sciences. We are exploring a number of potential collaborations for new formulations, focussed on delivering the existing proteins by other routes, e.g. pulmonary delivery and extending the delivery of the proteins in sustained release systems where this is of benefit to patients.

Phase III will consolidate and build on in-house expertise, offering services to other companies developing protein products. This will involve a mixture of process development, formulation work and contract manufacture. In addition, we are seeking to gain rights to new IP and patent new inventions that may lead to a range of opportunities, opportunities, including out-licensing and the founding of new companies.