very interesting new idea brought to my attention by RHPS today.

http://www.phosphagenics.com/ is the company website and

www.cohenresearch.com has an interesting report on them

with new phosphorylation techniques (inserting a phosphate group into the chemical structure to make it much more readily absorbed into the body), they aim to deliver more effectively previously hard to transmit drugs to the body - Vitamin E (already successfully launched in US), morphine (much smaller amounts needed, so fewer side effects), and others

talks with FDA started on basis of an enhanced delivery rather than enhanced drug action - much simpler process

recently gained Aus government grant of Aus$1.7 to fund Phase I and Pre-Phase II human trials of transdermal morphine delivery

a Material Evaluation Agreement signed with major US pharma to apply PSG's technology to its patented systems

forward PE of 0.54 (yes I did get the decimal point in the right place!)

shares up from about 7p to 12p over last 3 months

listed on Ausraillian Stock Market and London AIM

must be interesting to watch at least. DYOR then do it again to make sure I'm not dreaming.

check it out and ket me know what you think

cheers
SD

From Self-Trade 8/1/07

Terms: PHOSPHAGENICS LIMITED ENTITLEMENT ISSUE - FOR INFORMATION ONLY
Phosphagenics Limited has announced a Share Purchase Plan whereby shareholders were being
offered the opportunity to purchase between AUD1000.20 and AUD5000.00 worth of new shares. We
have been advised by the registrars to the Company that this is only available to holders of registered
ordinary shares and not holders of Depositary Interests in CRESTtherefore on this occasion the offer is
not available.


Now why couldn't their PR company or their Company Secretary tell me that in respnse to a simple question!

another seemingly faultless step along the way - another year or two of patience required though

http://www.digitallook.com/news/rns/2074014-104201/PSG-Pre-Clinical_Trial_Results.html?ac=209058&username=lukran