Shareholder C: "Bob, can you tell me what the Company is doing with its biotech assets. Can MMR make money from them?"
Lorsch: "Clearly, our plan is to monetize them. We have a powerful Board of Advisors assisting us with this, including Fred Middleton, Managing Director of Sanderling Ventures, and Ivor Royston, M.D., Founding Managing Member of Forward Ventures and a co-founder of IDEC Pharmaceuticals (now Biogen Idec). Sanderling and Forward Ventures together previously were the largest investors in Favrille, Inc., the predecessor public company to MMR, which raised more than $150 million from investors to fund its clinical efforts to develop a cancer vaccine to treat lymphomas. Those two funds alone invested more than $50 million in Favrille and, therefore, there is a rather significant interest in helping us recover those funds with these assets. Our anti-CD20 monoclonal antibodies as well as data, tissue samples and other technologies from the Company's Specifid vaccine trials and manufacturing processes work similar to Provenge from Dendreon, a company that has emerged from the lab to be a multi-billion dollar drug company based on recent FDA approvals of Provenge. Their drug targets prostate cancer patients in a similar way to our vaccine trials intended to target lymphoma. It uses the body's own immune system to target and attack cancer cells. We are spending considerable funds to resurrect patents and related Intellectual Property around the world and we are actively pursuing relationships to utilize these assets through independent consultants."
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