ERX - A thread for everyone

lets pull it to pieces shall we

The US biotech company MGI Pharma (NASDAQ: MOGN) is developing a cancer vaccine
(ZYC300) based on IP licensed from EiRx's Auvation subsidiary. A Phase I/IIa
single-agent clinical trial of ZYC300 conducted by MGI Pharma demonstrated that
patients whose immune system responded to the vaccine responded favourably to
subsequent 'salvage' chemotherapy. In September '06 MGI Pharma initiated a
second Phase I/IIa trial of ZYC300, this time combining it with a second agent
that it is hoped will enhance the favourable immune response. EiRx stands to
earn milestones and royalties on the successful development of ZYC300. A
similar success-based milestone arrangement pertains to the Company's licensing
of drug targets to OSI Pharmaceuticals (NASDAQ: OSIP). The Board will update
the market if and when such milestones are reached.