Take your eyes off for a moment and another big one slips
through ...
VSG PURCHASE: 11-05-2004 12:25 PM
$0.051 1907388
$97,276.788 Crossed
________
ASX Announcements x 3 today:
1) Another Change of
Director's Interest Notice fo Dr Saliba Sassine. He has acquired 35,377 VSG shares indirectly under Asea Consulting
and Capital Pty Ltd on market @ 5.7c each.
2) Non-Exec Director, Baron
Hartmuth von Maltzahn has resigned. Baron was recently appointed as the Chief
Technology Officer of Viisage, a US NASDAQ listed company.This appointment has
increased commitments at Viisage and consequently he will be unable to devote
sufficient time to Visiomed Group Limited. The Board would like to thank Baron
von Maltzahn for his past contribution.
3) Final Interest Notice - Baron
Hartmuth von Maltzahn 750,000 unlisted options exercisable at various prices on
or before 30 November 2006.
----- Original Message -----
Sent: Monday, May 10, 2004 1:46 PM
Subject: Re: [sharechat] VSG Upside
Potential Looking Good.
Visiomed Group Limited's ASX
Announcement - 10.5.04 - reproduced here but recommend reading the original
announcement.
' ... Visiomed Group Limited receives Ethics Committee
Approval for MicroDERM Clinical Trial
Announcement
Highlights:
. Visiomed Receives Ethics Committee approval for
MicroDERM clinical trial in Australia
. Resuls will support world's
first application for clearance of predictive expert system for
melanoma.
Australian Medical Imaging company Visiomed Group Limited
(ASX Code: VSG) advises that it has received approval from the Royal
Australian College of General Practitioners National Research and Evaluation
Ethics Committee to commence the MicroDERM clinical study.
The study is
entitled, "A Retrospective Multi Centre Study to Compare the Effectiveness of
Visiomed MicroDERM Predicting Atypical Malanocytic Skin Lesions".
The
objective of the study is to prove the MicroDERM Expert System predictive
capabilities in the diagnosis of atypical malanocytic skin lesions. These are
lesions that ae likely, or have the potential to develop into skin
cancers.
Visiomed has secured a number of Australian clinical sites in
addition to the European clinical study that is already under way.
The
data collected in these studies will be used for regulatory submissions to
governments outside Australia for approval of the Expert System.
The
early prediction or diagnosis of malanocytic skin lesions can substantially
improve survival rates. In Australia, more than 1,000 people a year die from
melanoma and in the USA the mortality rate from melanoma is approximately
10,000 per annum.
Visiomed is awaiting a decision by the US FDA for
clearance of MicroDERM as a sophisticated medical imaging, documentation,
retrieval and patient management system which will pave the way for sales
of MicroDERM in the USA the world's biggest market for medical and diagnostic
devices.
Once FDA clearance is obtained, Visiomed will be able
to enter the US market.
For further information, please contact Dr
Sassine on (08) 9321 2712 or on 0412 533 966.
Yours faithfully
Colin
McDonald
Company Secretary ... '
NB FDA clearance anticipated by
30th June for MicroDERM. Results of clinical trials will accompany second FDA
submission for MicroDERM's Expert System
(predictive/diagnostic software)
----- Original Message -----
Sent: Monday, May 10, 2004 1:18
PM
Subject: Re: [sharechat] VSG Upside
Potential Looking Good.
7.5.04 Dr Saliba Sassine
has just topped up his holdings by 75,623 shares (purchased on market) at an
average price of 5.8c each.
Securities held by Dr Saliba Sassine
prior to change + after change:
1) 420,000 shares held directly
2)
Prior to change: 2,538,000 shares, After Change: 2,613,623 shares held
indirectly by Asea Consulting & Capital Pty Ltd
3) 2,870,000 listed
options held directly
4) 1,000,000 listed options held indirectly by Asea
Consulting & Capital Pty Ltd
5) 4,500,000 unlisted options held
directly
Ah, I do like to see Directors taking a keen financial
interest in their companies, don't
you?
Regards,
Cris
----- Original Message -----
Sent: Monday, May 03, 2004 9:52
AM
Subject: Re: [sharechat] VSG Upside
Potential Looking Good.
Visiomed released their Jan-Mar
2004 Qtrly Report last Friday and I've had an
opportunity to read and summarise this morning:
Receipts from customers were $117,000 for the
quarter. I was hoping for higher revenue for Siemens equipment, however,
in view of Visiomed only having the rights since mid last November, this
result was not unexpected.
Expenditure ($611,000) is a little down
compared to average expenditure ($660,500) for the first two quarters.
Long-term cash position is an issue with $887,000 (sufficient to
fund just over 4 months at current rate of cash burn. Visiomed
have provided details of *additional funds received and
anticipated for this quarter (see Item 5 below), have stated a
commitment to further reducing expenditure, and have provided information
on some very promising potential earnings sources (refer page 7 of the
report which I have summarized at Items 1-6 below):
1) Negotiations for the sale or licensing of
the Funhaler business and patent portfolio to USA interests are
progressing well.
2) A number of parties have expressed an
interest in participating in a placement in the Company. Although no
specific proposal is being considered at this time, directors have in
place a plan to raise funds to ensure the Company has the working
capital required for its operations depending on the timing of the sale
of the Funhaler.
3) The first cash proceeds from the Visiomed
Imaging radiography equipment distribution business will be received in
the June 2004 quarter.
4) Significant expenditure has been incurred
during this quarter on the FDA approval process and payments to US
consultants advising on the proposed Funhaler sale. These costs are not of
a recurring nature. Expenditure has been substantially in accordance with
the Company's anticipated expenses.
5) The company has received *further grant
funding of $52,000 since the end of the quarter and *expects to
additionally receive approximately $130,000 being proceeds from the sale
of the Boorara tenements and tax R&D rebates.
6) The Company monitors its cash position
very closely and is taking steps to ensure that there are sufficient funds
to meet working capital and other requirements. The Company also expects a
significant reduction in operating costs as a result of the implementation
of a planned restructuring of operational activities.
Personal observation:
Re Item 5 - grant funding will increase
Visiomed's cash position to $939,000 and with Boorara a cash
position of $1,069,000. Payments to US consultants will
decrease - Visiomed states this is non-recurring
expenditure - i.e.; Expenditure of $611,000 less Consulting Fees $83,000 =
Anticipated expenditure of $528,000 per subsequent quarter, however;
it is unclear if payments to consultants will cease or scale down
gradually this quarter.
At current cash burn rate = sufficient to
fund over 5 months and depending on speed of reduction for
Consulting Fees - sufficient to fund 6-7 months. (NB
May be other cost containment areas being explored by Visiomed as
well.)
Other factors for consideration:
. If Visiomed succeed in their commitment to
reduce expenditure this time frame would be extended though by how much is
unknown.
. Prospect of income resulting from sale
or licence of Funhaler in the near future is looking very
promising.
. VSG will be receiving their first cash
proceeds from Imaging distribution business this quarter - refer Item 3 -
however, the potential $ are unknown.
All in all, to me, Visiomed's cash position looks OK
for at least six months. I'm expecting Funhaler to be secured
soon. If that doesn't happen, I'd be personally pleased to see a Capital
Raising following approval of Visiomed's 1st FDA submission for
Microderm as this is likely to be a catalyst for SP growth.
Regards,
Cris
NB Recent comment by Citgroup re Biotech sector: "While we expect a
more muted sector sentiment over 2004, we do believe that positive stock
specific news will be rewarded," Citigroup said.
----- Original Message -----
Sent: Wednesday, April 28, 2004
9:26 AM
Subject: Re: [sharechat] VSG Upside
Potential Looking Good.
Dr Sassine has a successful track-record in this sector.
I'm
impressed with the number and scope of significant outcomes and
activities VSG have been able to achieve on the funds they've had
available to them..I'm not expecting any fireworks with the Qtrly
report, but nor am I expecting anything adverse. Lessons learnt - I
think VSG will take pains to ensure the ASX are totally satisfied (in
advance) this quarter.
Recent Significant Activities:
1)
Funhaler: Co-development alliance on Funhaler with Pari GmbH (leading
worldwide manufacturer of delivery products for asthma, chronic lung
disease & cystic fibrosis - Germany, Japan, UK, Canada currently
involved in more clinical trials for new nebulizer respiratory
medications than all other brands combined, including trials by large
pharma companies such as Astra Zeneca and Separcor Inc). Co-development
trial is for Funhaler to be incorporated into Pari's delivery devices -
VSG view is to sell or licence Funhaler - co-development trial already
funded under NIH $1M grant awarded to VSG's collaborating asthma
researchers at Univ of WA.
2) Microderm nearing FDA approval -
minor edits outstanding - expected by end financial year. (The last
thing I read on FDA stated that a high percentage of FDA committee are
specialist dermatologists.) FDA clearance will pave the way for sales of
Microderm in the US. Visiomed has initiated a search for suitable
partners and distributors in the US. VSG has already received an
expession of interest from one suitably positioned party. (NB Huge
market - sadly, around 10,000 Americans die from Melanoma every year.)
European clinical studies have already commenced. Visiomed has secured a
number of Australian clinical sites for Aust studies to support FDA
approval. (NB Significantly; these studies are retrospective not
prospective = very short time frame.)
Price will catch up to the
vision and I am personally anticipating sooner rather than
later.
Regards,
Cris
----- Original Message -----
Sent: Tuesday, April 27, 2004
3:04 PM
Subject: Re: [sharechat] VSG
Upside Potential Looking Good.
Someone bought up big today:
Visiomed Group Limited (VSG)
Date
Time Price ($) Quantity Value ($) Conditions
27-04-2004 02:51 PM
$0.064 150000 $9,600.000
27-04-2004 02:29 PM $0.064
10000 $640.000
27-04-2004 02:29 PM $0.064 50000
$3,200.000
27-04-2004 01:56 PM $0.065 38180
$2,481.700
27-04-2004 12:42 PM
$0.062 2107388 $130,658.056 Crossed
27-04-2004
12:29 PM $0.062 68500 $4,247.000
27-04-2004 12:26 PM
$0.063 31500 $1,984.500 Crossed
27-04-2004 10:30 AM $0.063 8500
$535.500 Crossed
27-04-2004 10:23 AM $0.063 91500
$5,764.500
26-04-2004 03:40 PM $0.064 100000
$6,400.000
----- Original Message -----
Sent: Tuesday, April 27, 2004
1:57 PM
Subject: Re: [sharechat] VSG
Upside Potential Looking Good.
ASX: VSG - Update lodged with ASX today
at 12.38pm
| VSG |
12:38 PM |
|
On track for FDA
Clearance of Microderm Submission |
----- Original Message -----
Sent: Tuesday, April 20, 2004
3:53 PM
Subject: Re: [sharechat] VSG
Upside Potential Looking Good.
I have asked Visiomed when shareholders can
expect an update.
Visiomed will be posting out a newsletter
to shareholders in the near future.
----- Original Message -----
Sent: Monday, April 19,
2004 7:53 AM
Subject: Re: [sharechat]
VSG Upside Potential Looking Good.
FDA application has been lodged -
approval was anticipated around late April.
Everyone here knows my thoughts on
this one.
My expert TA analysis - higher
highs, higher lows and poised for another upturn especially in
consideration of anticipated FDA approval.
----- Original Message -----
Sent: Monday, April 19,
2004 5:46 AM
Subject: [sharechat] VSG
Upside Potential Looking Good.
Latest April 04 Aegis Equities
Comments.
Through the acquisition of Visiomed AG, VSG
has not only secured full
control over the microDERM
device but also has rights to any other IP
developed
within the German company. This includes some interesting
surgical
navigation technology that VSG may be able to
commercialise in the future.
The Funhaler provides a
potential spinout product that can help fund VSG's
other
ventures.
VSG has managed to build its patent portfolio
over the last year, an
important first step to eventual
commercialisation. A recent study was
published in the
influential British Journal of Dermatology detailing the
diagnostic use of the MicroDERM system and this should
help it achieve US
regulatory approval as higher value
diagnostic device. VSG also forged
closer links with
Siemens AG, one of the world's largest and most recognised
engineering and medical imaging companies, announcing an
exclusive
Australian dealership for a range of Siemens
medical imaging systems. VSG is
also a significant
participating collaborator with Siemens in the
development
of ultrasound-based surgical navigation systems for spinal
procedures.
Lazy
Haggis
_________________________________________________________________
Watch
LIVE baseball games on your computer with MLB.TV, included
with MSN
Premium!
http://join.msn.com/?page=features/mlb&pgmarket=en-us/go/onm00200439ave/direct/01/
----------------------------------------------------------------------------
To
remove yourself from this list, please use the form at
http://www.sharechat.co.nz/chat/forum/
|
See IRG research reports
