Ann: 2014/2015 Half Year Financial Report, page-31

Hi Furian - I don't know how far back you have been with your research but just thought I would let you know that AVX has another research project on the go - in addittion to the ATC trial. They have a deal going with a Swiss company called Valevia to develop an antibiotic to treat hospital borne diseases. Valevia is not a publicly listed company so it is virtually impossible to get any updates on where they are at with their research.The last information I received was in response to an enquiry I lodged in March 2014. Dr. Coates (now resigned) replied - "We are still working with Valevia to progress this antibiotic lead to the clinic and given the intricacies of antibiotic science I believe we are making good progress in understanding this molecule better and moving forward." There is no mention of this programme in their recent Company update (26/2/15) so I will submit another enquiry and post the reply when (if) I receive one.