• Minomic owns or has licenses to 100% of the Intellectual Property relevant to the prospective development of a monoclonal antibody-based diagnostic test for prostate cancer.

• With continued effort, based on progress to date, we believe that the Company will develop a prostate diagnostic test to the stage of  regulatory evaluation in 2010.

• The potential test is based on a mouse monoclonal antibody (MAb) coded BLCA-38, which Minomic is able to use under the Materials Transfer Agreement with the South Eastern Sydney Illawarra Area Health Service.

There are two significant features of Minomic’s work:

• First; the MAb BLCA-38 has shown utility for detecting the presence of bladder cancer cells in the urine of patients with this disease. It has also been shown that BLCA-38 binds to a protein on the surface of prostate cancer cells. When this information is coupled with the fact that there is published evidence that prostate cancer cells are present in urine it is likely that BLCA-38 will bind to prostate cancer in urine samples as it does in bladder cancer. The aim of this work is to use a panel of urines collected to test the efficacy of this novel approach.

• Secondly; it will allow us to test if the protein is present in urine independent of the cancer cells. Finally we will also test to see whether the protein is present in serum.