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For More Information Contact: Rimon Therapeutics Limited 59 Adelaide St. East Suite 500 Toronto, Ontario Canada, M5C 1K6, 416-977-2003 (office), 416-977-6383 (fax), info@rimontherapeutics.com (email) or visit our website at: www.rimontherapeutics.com

Media Contact: Howard Oliver, What If What Next, 416-638-8582, holiver@whatifwhatnext.com.

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« April 30 | July 11 »

Sunday, May 6

Part two of a two part interview with Dr. Michael H. May PhD, President, Director, Rimon Therapeutics at BioFinance 2007

by Howard on Sun 06 May 2007 11:45 AM EDT

Howard: In the presentation you talked about the application pipeline for Theramers™ in stents, knee joints and eyes. Why this emphasis?

Mike: We have been investigating these opportunities for a few years. On the strength of the data we have on the wound and technology side, we have decided to pursue them. We have been working on the coronary stent application for a couple of years and it has some of the validation done in collaboration with a partner in the sector. There has been much exciting activity in the background and we want to move to the clinic with new financing. We now have proof of concept data that we are taking out to potential partners. There is validation from clinical trials. We now have clinical validation of a very novel technology concept. As a management team, we feel highly confident about the technology.

Howard: You mentioned that the networking you do at these events is as important as the formal presentation. Can you explain?

Mike: Networking is critical and these events are always valuable. The presentation is one small part of what is happening here. The breadth and depth of our networking has been advanced recently over the years as we have had more to talk about and more successes to declare. It is easier to network. So the networking has been built not only on previous relationships established over the last five years, we now have much more exciting things too say.

Howard: At the VC presentation there was talk of ‘alignment’ of a company, meaning a balanced score card approach where you look at finance, scientific development, marketing, personnel and strategy. Can you speak to ‘alignment’ at Rimon.

Mike: Alignment is most certainly important. It is a challenge with limited financial resources and people to always be aligned. We have been focusing on a lead product that can validate a technology and to then advance the pipeline products. Rimon has been much aligned around this clinical trial and enhancing that product so that it can be scaled up and taken to market as quickly as possible with a partner. Alignment is equally required for relationship management with partners. Every potential partner we meet, we need everyone at Rimon to contribute to what that story will be when we meet them – including data, brainstorming on product integration, and to effectively communicate our story. We all have to be on the same page.

Howard: You mentioned that you have been in negotiations with a major wound care company. What have you learned from those negotiations?

Mike: You learn a lot when you broaden your interactions. Certainly engaging a partner brings a whole host of issues to the table. We understand better now some of the issues we have not had to deal with: issues such as manufacturing and scale-up, reimbursement, and regulatory approval. Partners have a lot of experience that we are benefiting from in all of these areas and more.From a practical sense, what we have also learned is that the pace of these discussions can be very slow. You must be very patient and very positive. Find your champions, and create a sense of urgency and opportunity.

Howard: You mentioned the ‘The Theramer Patent House’ – how did that idea come about and what are you going to do with it?

Mike: It came about in a strategic planning session last year. We were trying to define the long-term objectives of the company. Of course IP is important to any new, early stage company. Rimon deals at the base level with biomaterials - new medical materials. As we are successful, other activities that are going on out there in the academic environment, and other companies around materials, perhaps will start to look and feel like Theramers™. So it is important for us to be aggressive about going out and finding those technologies. Perhaps acquiring them or through other vehicles to make certain that we remain the Theramer™ company and the Global Theramer™ Patent House.

Howard: At the VC presentation they also spoke about acquisitions and role-up strategies. Could this be your long-term strategy?

Mike: I think that would be the wise thing to do if our first product generates good revenue for us. We can enhance our burn significantly and build our team. It would be a valid way to build the company. In the past year we signed an agreement with one for a certain period of time. They basically wanted to take us off the table for the other wound care companies.

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