I’m disappointed to see Ross Murdoch leave the CEO position. But...

I’m disappointed to see Ross Murdoch leave the CEO position.

But as we’ve been so heavy on disappointments lately, I’m going to focus on the various positives I managed to pick out of the announcement and Annual Report.

• In good will, and reflective of his belief in the company and its growth prospects, (Ross Murdoch) will remain on the Board and work closely with the Executive Management Team to facilitate and finalise a number of advanced discussions and business development deals (across the three businesses) currently underway.

• Discussions around suitable assets for partnership has commenced between Phosphagenics and Strides, with the intent to negotiate a deal in 2019….We believe Strides has the entrepreneurial capability and finances to accelerate development of any selected project or project(s).

• With the Mylan arbitration behind us, our focus is now firmly on developing our key assets and securing licensing or partnership agreements that will allow us to continue to focus on advance development with reputable commercial partners, and financed by non-dilutive funding generated via these deals. Progress is occurring on this front…

• The significant progress made during 2018 in TPM® injectables is expected to lead to candidates with the potential to enter the clinic in 2019/20.

• The return of TPM®/daptomycin, combined with the focused formulation development work, has resulted in Phosphagenics now having eight commercially attractive TPM® injectable formulations in different stages of active development in its portfolio.

• ….during 2018 Phosphagenics has continued to explore with Terumo the possible expansion of its TPM® injectable partnership beyond TPM®/propofol, and these discussions remain on-going.

• Animal Health remains a significant opportunity for Phosphagenics. In 2018, the Company has focused on progressing regulatory applications for TPM® in animal feed, following strong trial data obtained during 2017. Phosphagenics is in ongoing talks with potential partners, several of which have completed their in-house due-diligence activities, allowing us to focus on the active partnering discussions.

• Following a product relaunch by Ashland in 2018, sales of Vital ET® increased strongly over the year.

• International skin care company Rodan + Fields (R+F) continues to develop TPM® based proprietary personal care products for USA, Canada, Australia, Japan and South Korea…. the first product has been formulated.