Dr Seet Lip Chai Chairman
Rockeby biomed Limited
Board of Directors’
Rockeby biomed has undergone signifi cant changes over the past 12 months. This has positioned us to participate in the global monitoring of some of the most serious public health issues of our time - Avian Bird Flu and HIV AIDS.
Taking part in the global fi ght against these deadly diseases has also translated into an increase in sales and cash fl ow for the Company, all of which should accelerate markedly in the months to come.
The foresight of the Rockeby management team in identifying the growing threat of an Avian Bird Flu pandemic - not only in South East Asia but in the Middle East, China and Europe - has meant that the Company’s Avian Flu Rapid Test has been well-received by authorities and commercial enterprises who wish to test for the fl u virus amongst poultry using a cost effective and practical method.
Rockeby believes that the demand for veterinary Infl uenza A tests will continue to soar in the near to medium term and we expect to be able to secure orders from several of the tenders we are currently involved in. Concurrently, Rockeby’s management team is busy exploring thesetting up of a joint venture in China to distribute and produce these tests. We are optimistic that we will be able to present to our shareholders positive news on this development by the end of this calendar year.
With regards to our CanDia5 vaginal thrush diagnostic kits, the Company’s goals are to fi nalize negotiations with our European partners and commence sales in 2007. Rockeby is also working towards acquiring and distributing other products in the infectious disease range to our European partners.
Rockeby is optimistic that negotiations, to sell CanDia5, will be fi nalised with at least one potential UK partner within this calendar year. Moreover, Rockeby’s CanDia5 will soon be receiving an OTC CE mark making it even more suitable for the active promotion by pharmacists.
During the year, the Company announced the appointments of two non-executive directors. Dr. Nicholas Samaras was appointed in November 2005 and Mr. Sam Di Giacomo was appointed in April 2006. The Company also appointed Mr. Roger Schmid as the new Vice President of Marketing in April 2006.
Dr. Samaras has over 20 years’ experience in the global life sciences industry. He has worked in senior roles with global life science companies such as Applied Biosystems Pty Ltd, a subsidiary of Applera Corporation, and Perkin Elmer. During his career he has been involved in a diverse range of roles within the industry including senior management, marketing, sales,
business development and research. Most recently Dr. Samaras has been consulting venture capital fi rms, investors, banks and global biotechnology companies through his fi rm, Australis Biosciences.
Mr. Di Giacomo brings 17 years of experience in the global biotechnology sector to Rockeby. He has been involved in numerous capital raisings at all stages from seed to IPO, and has been involved in a number of technology and distribution licensing deals. Sam is also a founder of a number of Australian Life Science companies including pSimedica Ltd, Australian Cancer Technology (now Avantogen), Resonance Health, and founding director of Advance Healthcare
Group.
Mr. Schmid has extensive experience in the healthcare and financial industries in Asia. From 2001 to 2004, Roger was the Director, Regional Business Solutions of DKSH based in Bangkok. For 2 years beginning 1999, he was the Assistant Regional Manager, Far East Pacifi c of Swiss Serum and Vaccine Institute (subsequently acquired by DKSH). Roger held several positions of increasing responsibilities during the time he was with Union Bank of Switzerland starting as Offi cer, Asia Desk (Zurich) from 1990 to 1994, Deputy Equity Syndicate Manager (HK) from 1994 to 1995 and was subsequently appointed as Chief Representative and Director based in Shanghai from 1995 to 1998.
The Board notes with regret the demise of its late Company Secretary Mr Tan Ban Huat after a long illness and records its appreciation for his contributions to the company.
Financial Results For The Consolidated Entity
The operating loss of the Company for the year ended 30 June 2006 amounted to $7.4 million for the consolidated entity, compared to the previous years loss of $4.4 million. This year included a signifi cant write-down of non-current assets of $3.9 million.
Income was derived from sales, interest income and exchange rate gains. The Company has been closely monitoring administration costs during the year.
The board and management of Rockeby would like to thank you for your support and would like to invite you to continue to follow the Company’s exciting evolution into a regional biotech Company and participate with us in this exciting new phase of Rockeby.
Dr Seet Lip Chai
Chairman
Rockeby biomed Limited
