June 1, 2015
MedBiogene Provides Update
May 21, 2015
Med BioGene Issues Revised Fact Sheet
May 21, 2015
Med BioGene Engages IR Company
April 9, 2015
Additional International Exposure for MBI’s commercialization Partner
March 26, 2015
Neil Campbell, the CEO of Helomics®, Message on Cancer Video
March 26, 2015
First 10 Industry Partners Announced
March 26, 2015
Helomics - 100,000 Genomes Project
March 3, 2015
Appointment Of New Director
February 16, 2015
MBI Closes Shares For Debt Transaction
February 3, 2015
Med BioGene Provide Shareholders Update
January 13, 2015
MBI Announces Shares For Debt Transaction
November 30, 2014
October 02, 2014
Status Update Precision Therapeutics Inc. to Med Biogene Inc.
October 01, 2014
Closing of Private Placement
September 05, 2014
Directors Nominated By Dissident Shareholder Elected At Annual General Meeting
September 04, 2014
Med BioGene Announces Receipt of Proxies for Upcoming Annual and Special Meeting
August 29, 2014
Med BioGene Reports Financial Results for Q2 2014
August 21, 2014
Med BioGene Responds to Assertions Made by Dissident Shareholder
August 15, 2014
Med BioGene Provides Update and Announces Proposed Financing
August 06, 2014
Med BioGene Announces Director Nominations and Postponement of Annual and Special Meeting
May 30, 2014
Med BioGene Reports Financial Results for Q1 2014
April 30, 2014
Med BioGene Reports Financial Results for 2013
March 24, 2014
Med BioGene Announces Regulatory Approval of GeneFx® Lung
March 07, 2014
Med BioGene Announces Publication of Data Demonstrating Independent Validation of GeneFx® Lung
January 09, 2014
Med BioGene Announces Dismissal of Litigation With Signal Genetics LLC and Respira Health LLC
MedBiogene Provides Update
Vancouver, B.C., June 1st, 2015 – Med BioGene Inc. (the “Company”) (TSXV: MBI)is pleased toprovidethe following report of the Company’s activities over the last four months for the benefit of the shareholders and the investment community. Since the last report to shareholders on February 3rd 2015, there have been a number of developments of which shareholders should be aware.
Since early 2015, Helomics™ and MBI have been involved in discussions aimed at enhancing the commercial opportunities available to both companies. These discussions passed a milestone in early May when Neil Campbell, the CEO of Helomics™, was able to visit Vancouver to hold meetings with MBI management. The meetings were productive and enabled both companies to gain a more complete understanding of their medium and long term objectives.
At the conclusion of the meetings with Helomics™, and working with Peterson Capital, MBI prepared an Investor Fact Sheet, which is available for viewing on the Company’s website, outlining what management believes to be conservative and achievable milestones in the GeneFx®Lungcommercialization process. These milestones are within the range of estimates MBI presentedin the February 3rd, 2015 news release. The Peterson Capital team will be proactive in keeping the existing capital market audience aware of progress towards the milestones, and increasing awareness among other market participants who will be learning about MBI and Helomics™ for the first time.
The purpose of the work being carried out this year is to develop commercial strategies intended to supplement the core business of MBI, and to be of a substantial mutual benefit to both companies over the next 3 to 10 years. The companies have identified opportunities which should enable them to employ new strategies to expand their markets in the field of personalized health care, and the value added services they provide.
Currently, MBI’s primary source of future earnings will be the milestone payments and royalty stream resulting from the commercialization of the GeneFX® Lungtest procedure. The countries in which patent protection exists are Canada, USA, UK (and the other European countries signatories of the European Patent Convention, EPC), Japan, and Australia. The combined number of new Non Small Cell Lung Cancers, NSCLC, in North America and Europe which are amenable to analysis by GeneFX® Lungis expected to be approximately 170,000 cases per year. Other than the costs typically associated with the operation of a publicly traded company, MBI maintains the previously stated opinion that royalty revenues could be distributed to the shareholders commencing in Q4, 2016.
MBI’s cost of generating this royalty stream should be low because all sales related expenses costs will be borne by Helomics™, but the gross revenue stream to MBI is potentially limited by the number of GeneFx®Lung tests carried out on new NSCLC cases developing in the targeted markets, and by the number of post-treatment tests undertaken by clinicians. As has been noted before MBI’s projected gross revenue stream is currently dependent upon the commercialization and market growth ofGeneFx®Lung. In view of this MBI’smanagement team has been exploring strategies for diversifying the revenue streams which are available to the Company. Any diversification, or expansion, of these will be accretive to the core business. In addition, any new strategy will have to demonstrate the ability to provide a ROI of better than 20%.
Two separate approaches are being evaluated, both internally and in conjunction with Helomics™. In both cases these approaches would be mutually beneficial to MBI and Helomics™, and would be synergistic with the long term goals of Helomics™.
The recentseries of meetings held in Vancouver between Neil Campbell and members of MBI’s management team were wide ranging and dealt with the need to identify strategies to develop net revenues. The discussions resulted in the broad outline of the two additional revenue generating strategies and the specifics of these are now being developed in Vancouver and Pittsburgh.
Because of regulatory and commercial considerations, MBI anticipates that it will belate 2015 before the specifics of these strategies can be made public. However, shareholders should be aware that these additional actions designed to enhance the value of MBI,as well as the Company’s long term revenue growth,are proceeding.
Simultaneously with MBI’s work on developing additional revenue streams, Helomics™ is continuing the time consuming process of commercializing GeneFX®Lung with health care providers in the US. Thiswork is proceeding in conjunction with the commercialization of GeneFX®Lungin other jurisdictions in a manner which will generate additional revenue by utilizing other technologies owned by Helomics™.
About Med BioGene Inc.
MBI is a life science company based in Vancouver, British Columbia that is currently focused on managing the license and rights to GeneFX® Lung, a prognostic genomic based test procedure. MBI’s common shares are listed for trading on the Exchange. For more information, please browse this website
For further information contact:
Iain Weir-Jones, Chief Executive Officer and Chairman of the Board of Directors
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