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College Hill

9 January 2003

Cautious Californian Optimism

The atmosphere at this year's JP Morgan conference was one of "cautious optimism", reports Katja Stout attending the conference on behalf of Northbank and its clients.

The general viewpoint was that the sector has reached a ‘tipping point' during the gloom of last year's trading and it was predicted that 2003 will prove to be the year that biotech shows how productive it can be. David Kessler, former commissioner of the US Food and Drug Administration (FDA) predicted, at his luncheon presentation, that 2003 will potentially see a greater number of products receiving FDA approval driven by new leadership at the FDA as well as an increase in the number of Investigative New Drug applications from the sector.

More than 265 companies presented at this years gathering which had an attendance of more than 5000 over its four days. The presentations were generally of a refreshingly high standard. The best presentations were well thought out with a strong focus on commercial timelines and route to market to satisfy nervous investors in the current climate. Expensive animations and detail on science was out this year. "Whilst most presentations were of a good standard, the presentations that stood out as high impact had not only good content but also obvious professional design," commented Dr David Chilvers, Chief Business Officer of Xantos, a Northbank client.

Presentations prepared for the conference by Northbank included Cambridge Antibody Technology (CAT) and Microscience. Rowena Gardner, Director of Corporate Communications at CAT said "We were delighted with the outcome of the presentation prepared by Northbank. It communicated our key messages and corporate style effectively".

Rod Richards, CEO of Microscience said "The team at Northbank helped us create a professional presentation that gave the audience a clear and concise picture of Microscience and how our product portfolio will create value."

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