Veriphi Shareholder Update: 6 December 2017

  • Snowball IM. The updated Information Memorandum (IM) is also now complete and will shortly be circulated to shareholders and interested investors.
  • First Revenues. I met earlier this week with our private sector trial partner to discuss our recent commercial proposal. The proposal will be tabled at their December board meeting.
  • Texas Medical Centre.  We have our first preparatory meeting tomorrow, at Callaghan Innovation, to discuss our visit to the Texas Medical Center in Houston in March 2018. The objective of the meeting is to plan commercial engagement with the parties we wish to meet on our visit.
  • First Series of Formal Test Results. Veriphi recently conducted 90 blind tests at Auckland City Hospital Pharmacy. These tests involved 4 intravenous oncology drugs; Carboplatin, 5-Fluorouracil, Methotrexate and Saline. 56 of the samples presented to the Veriphi analyser were correctly labelled while the remaining 34 samples were incorrectly labelled. The Veriphi analyser correctly identified 55 of the 56 correctly labelled samples and 33 of the 34 incorrectly labelled samples.

Therefore, the Veriphi analyser verified 88/90 samples with one false positive and one false negative.

Both errors were from Carboplatin samples. The Veriphi analyser correctly identified the drug identity for both samples, but failed to correctly identify the right concentration.

Carboplatin’s drug signature is closer to it’s diluent, Saline, than the other 2 oncology drugs. This amplifies any noise seen when capturing the drug signatures and therefore we see higher variation in predicted concentration for Carboplatin than the other 2 samples.

We are very happy with this result and have developments in place to further improve this performance.