Post by
prophetoffactz on Jun 06, 2023 12:29pm
AGM
This could be very wrong as it is from memory and I was distracted...
All nominations to the Board were approved. Glen Rourke didn't stand for re-election.
I believe another solid year for the base business is anticipated once the re-ordering commences as previously mentioned. No mention about growth.
Discussions concerning out-licensing a PGX complex are underway right now with serious potential partners. The goal is still a license by the end of the year. Bioavailability, given the impressive results from the University of Alberta, is the unique selling point. CoQ10 is a $4 billion market.
CZO's new Senior VP of Technical Operations hired at the end of April has PGX scale-up as his first mandate. He has significant experience and has brought a different perspective that may both reduce costs and save time for PGX scale-up. No mention about how much time and costs could be saved. Plant construction is expected by the end of the year. Equipment is ready to be shipped from Europe.
CZO is confident that the Phase I portion of the avenanthramide clinical trial will be completed by the end of this year. Health Canada gave approval for the trial in December. The Montreal Heart Institute assumes responsibility for the trial and had to have all of its questions addressed by CZO. Questions have been addressed. Final approval from the Ethics Committe of the Montreal Heart Institute has been given. CZO is training the bioanalystis company that will be in charge of the blood samples how to measure the results given CZO's unique experience with avenanthramide.
The 'go / no go' decision for the fibrosis drug is anticipated in the second half of the year. Animal trials are ongoing and will support trial design. CZO believes it has made a major discovery.
Dr. William Li will be presenting a virtual conference for the wound healing opportunity and the next steps given the recent strong results as presented in the news release.
An uplisting to an international exchange is back in CZO's priorities. Reverse mergers have been investigated as one option. Given the historic bear market in biotech there may be an opportunity to reverse merge with another company as they struggle.
Comment by
ZoranSto on Jun 06, 2023 1:27pm
So Gilles survived the vote. Thanks for the update. A mountain of things promised I REALLY hope they deliver. Don't understand how they will get on another exchange, which one? Nasdaq? Do we have to do the buying OR does that company buy us????
Comment by
Ciao on Jun 10, 2023 8:29pm
It's not to hard to figure out that it appears someone called in a big favor as dissent was growing ahead of the AGM. This year we had 13M more votes cast than the previous year. 10M for and 3M against Gilles. If the 10M favor was not cast for, we would have a 42% vote against Gilles.
Comment by
purse on Jun 06, 2023 3:44pm
Thanks for the update Prophet !!