Medical Marketing International Group - (MMG).

Hi Benny,

I wish that I could formulate an estimate. The £1bn+ price tag for the company sounds quite possible on successful completion of clinicals for the big 3 product lines. I just do not have any feel for potential timing. DB's in no hurry at the present time (he's quite clearly stated that he wants to advance the product lines up the value curve - that was the point of raising the cash) and, if the broker's forecast is to be believed, is looking for a start to the licencing next financial year. Whether that start will be before or after 31/12 is anybody's guess and I do not suppose that DB knows for sure either. Just because he is committed to maximising the potential of the company's products it does not mean that he will not accept a (non-exclusive) licencing opportunity at a tempting price at an earlier stage. I am hoping for £5+ by 31/3/08 and, ultimately, for that £1+bn price tag for the company, but I don't yet have a feel for timing. This all assumes successful progress through the trials. The only other comment is that I feel that meaningful licencing deals will significantly increase the attraction of the share to institutions and it will be that that will carry the SP through £5 and beyond. I don't have the cash to top up at the moment but hope to have the opportunity to do so over the next 6 months.