Intellect Neurosciences Inc. (fka ILNS)

[James salmon]

Yes but you need to read the most recent Annual report.

Although there can be no assurance, we anticipate that following completion of the Phase 1 study in November 2014, Shire will review the safety of VP 20629 and its possible effect on plasma/urine biomarkers of oxidative stress and thereby decide whether to move to Phase 2. Indication of positive biomarker effects could result in a decision by Shire to seek Orphan Drug designation for VP 20629. We have no ability to control Shire's decision as to whether to seek such designation.

Important to read biomarker effects, I would suggest things have changed with possible Orphan application after Phase 1.

Also at no point have Intellect given any indication when milestone payments would be due. They could come at anytime, and of course I am not going to be told if I ask, this is confidential between both parties. You can't say they will not come after phase 1 completion as much as I can say they will.