Announcement PDF Annual Report 2015 Contents Operations Report 1 Intellectual Property Report 5 Directors’ Report 8 Corporate Governance Statement 18 Auditors’ Independence Declaration 23 Annual Financial Report 24 Statement of Profit or Loss and Other Comprehensive Income 25 Statement of Financial Position 26 Statement of Changes in Equity 27 Cash Flow Statement 28 Notes to the Financial Statements 29 Directors’ Declaration 50 Independent Auditor’s Report 51 Shareholder Information 53 Company Directory 55 Operations Report Overview of Company’s Activities Antisense Therapeutics Limited (“the Company” or “Antisense Therapeutics”) continued its focus on advancing its antisense products under development. The following report on operations details the research and development activities undertaken by the Company in the period. Antisense Therapeutics’ Mission Antisense Therapeutics’ mission is to develop and commercialise novel antisense therapeutics in-licensed from Isis Pharmaceuticals Inc (Isis), world leaders in antisense drug discovery and development. The Company’s Research and Development activities are focused on developing its pipeline of 2nd generation antisense drugs for diseases where there is a significant and acknowledged unmet medical need and where the antisense technology has the potential to provide compounds with clear competitive advantages over existing therapies or drugs in development for those diseases. Antisense Technology Antisense drugs are small (12-21 nucleotides) pieces of DNA or RNA that are chemically modified to engineer good drug properties. Conventional medicines typically bring about their desired therapeutic effect by binding to a target protein directly, to interfere with the action of the disease causing protein. Antisense drugs on the other hand, are rationally designed to bind to a specific messenger RNA sequence with extraordinary precision and thereby block or stop the production of the disease causing protein in the first instance. The antisense drugs in our pipeline accessed via the Company’s technology collaboration with Isis incorporate Isis second-generation chemistry. Second-generation drugs are composed of both RNA-like and DNA-like nucleotides, while first-generation drugs are entirely DNA-like. Because RNA hybridizes more tightly to RNA than to DNA, the second- What is Acromegaly? Acromegaly is a serious chronic life threatening disease triggered by excess secretion of growth hormone (GH) by benign pituitary tumours. Oversupply of GH over stimulates liver, fat and kidney cells, through their GH receptors, to produce excess levels of Insulin-Like Growth Factor-I (IGF-I) in the blood manifesting in abnormal growth of the face, hands and feet, and enlargement of body organs including liver, kidney and heart. The primary treatments for acromegaly are to surgically remove the pituitary gland and/or drug therapy to normalize GH and serum IGF-I levels. In North America and Europe there are approximately 85,000 diagnosed acromegaly patients with about half requiring drug therapy. generation drugs have a greater affinity for their RNA targets and, therefore, greater potency than their first generation antisense drugs. Second generation antisense drugs are more stable, allowing more convenient dosing regimens, better tolerated, and have broad disease application. Projects Update ATL1103 for Acromegaly, Diabetic Retinopathy and Nephropathy and Cancer ATL1103 is a second generation antisense drug designed to block growth hormone receptor (GHr) expression thereby reducing levels of the hormone insulin-like growth factor-I (IGF-I) in the blood and is a potential treatment for diseases associated with excessive growth hormone action. By inhibiting GHr production, ATL1103 in turn reduces IGF-I levels in the blood (serum). There are a number of diseases that are associated with excess GH and IGF-I action. These diseases include acromegaly, an abnormal growth disorder of organs, face, hands and feet; diabetic retinopathy, a common disease of the eye and a major cause of blindness; diabetic nephropathy, a common disease of the kidney and major cause of kidney failure, and certain forms of cancer. ATL1103 is in clinical development as a treatment for acromegaly. The therapeutic activity of ATL1103 has been demonstrated both in animal pharmacology studies, where ATL1103 has shown the successful suppression of serum IGF-I levels in both mice and primates, and in a Phase I clinical trial in healthy volunteers. Normalizing serum IGF-I levels is the therapeutic goal in the treatment of acromegaly and reducing the effects of IGF-I has a potential role in the treatment of diabetic retinopathy, nephropathy and certain forms of cancer. Following the successful Phase I trial, the Company initiated a Phase II clinical trial of ATL1103 in patients with acromegaly. In September 2014 the Company reported successful efficacy results from the Phase II trial with the trial having met its primary efficacy endpoint by showing a statistically significant average reduction in sIGF-I levels of 26% from baseline (P<0.0001) at week 14 (one week past the last dose) at the 400mg per week dose tested. ATL1103 was assessed as generally well tolerated and the positive safety profile suggested that the drug may be tolerated at higher dose levels than 400mg per week. In early December 2014 the Company advised that it was planning to undertake a small, higher dose (600mg/week) study in Australia in 4 acromegaly patients to support the use of a higher dose of ATL1103 in future Phase III trials for dose escalation in patients with more active disease. Later in the same month the Company advised that it had received Ethics Committee approval to conduct this higher dose trial of ATL1103. ANNUAL REPORT 2015 1 Operations Report continued Progress ATL1102 for Multiple Sclerosis (MS) On 5 March 2015 the Company advised that it had received the requisite approvals and acknowledgements to commence patient enrolment in its ATL1103 higher dose study. The design of this higher dose trial is an open-label study of the safety, tolerability, pharmacokinetics and efficacy [effect on serum insulin like growth factor I (sIGF-I)] of ATL1103 in adult patients with acromegaly dosed twice weekly with ATL1103 at 300mg for 13 weeks (600mg weekly) with two months of follow up. ATL1102 is a second generation antisense inhibitor of CD49d, the alpha subunit of VLA-4 (Very Late Antigen-4). In inflammation, white blood cells (leukocytes) move out of the bloodstream into the inflamed tissue, for example, the Central Nervous System (CNS) in MS, and the lung airways in asthma. In MS, the inhibition of VLA-4 prevents white blood cells from entering the CNS, thereby reducing the severity of the disease and slowing its progression. VLA-4 is a clinically validated target in the treatment of MS. Antisense inhibition of VLA-4 has demonstrated positive effects in a number of animal models of inflammatory disease including MS. ATL1102 was shown to be highly effective in reducing MS lesions in a Phase IIa clinical trial in MS patients. On 6 March 2015 the Company announced that Dr Peter Trainer, Professor of Endocrinology, The Christie NHS Foundation Trust, UK, and Chief Investigator for the Company’s ATL1103 Phase II study, would present on the ATL1103 project and the previously announced Phase II trial results at the world’s largest endocrinology meeting, ENDO 2015. On 15 May 2015 the Company announced that Cortendo AB a biopharmaceutical company focused on rare endocrine disorders and other rare diseases and Antisense Therapeutics Limited had entered into an exclusive license agreement that provides Cortendo with development and commercialization rights to Antisense Therapeutics’ ATL1103 for endocrinology applications. Under the terms of the agreement, Cortendo provided Antisense Therapeutics with an initial upfront payment of $5 million (AUD $6.4 million), consisting of $3 million (AUD $3.9 million) in cash and a $2 million (AUD $2.5 million) investment in Antisense Therapeutics equity. Additional payments, contingent upon achieving specific development and commercialization milestones, may total up to $105 million (AUD $131 million) over the lifetime of the agreement. There is also the potential for royalty payments based upon sales performance. Cortendo will be responsible for the ongoing clinical development of ATL1103 in endocrinology applications and will fund the associated future development, regulatory and drug manufacture costs. Antisense Therapeutics will retain commercialization rights for ATL1103 in endocrinology applications in Australia and New Zealand, and will also retain worldwide rights for other ATL1103 indications, and may utilize new ATL1103 data generated by Cortendo in pursuing these other indications, subject to certain terms and conditions. Patent News On 7 July 2014 the Company announced that the Canadian Patent Office allowed patent application 2,517,101 entitled “A Modified Oligonucleotide for inhibition of Growth Hormone Receptor Expression” which covers the Company’s growth hormone receptor (GHr) targeting drug ATL1103 and its use until February 2024. On 16 April 2015 the Company announced that the European Patent Office had allowed European patent application 11194098.7 entitled “Modulation of growth hormone receptor expression and insulin-like growth factor expression” and provides protection in the major pharmaceutical markets in Europe to 2024, with potential for extension to 2029. 2 ANTISENSE THERAPEUTICS In September 2014 the Company reported the publication of previously generated Phase IIa clinical trial data on ATL1102 in the medical journal Neurology. The article titled “CD49d antisense drug ATL1102 reduces disease activity in patients with relapsing-remitting MS”, was included in the print edition Volume 83, November 11, 2014. In October 2014 the Company reported that the US Food and Drug Administration (FDA) had responded affirmatively to the Company’s plan to submit a U.S. Investigational New Drug (IND) application for initiation of longer term Phase IIb human trials of ATL1102 for the treatment of Multiple Sclerosis (MS) and that supportive guidance had been obtained from the agency’s Pre-IND assessment of the development strategy for ATL1102, including plans for a Phase IIb study in MS patients. In December 2014 the Company reported that it was investigating provision of ATL1102 under an Early Access Program (EAP) on compassionate use or on a named patient basis in markets where the drug would qualify for use on these grounds including those where the Company can charge for drug access resulting in a possible early income stream and that Antisense Therapeutics was in discussions with an experienced European based group to set up and run the program in Europe for the Company. What is Multiple Sclerosis? Multiple Sclerosis (MS) is a life-long, chronic disease that progressively destroys the central nervous system (CNS). It affects approximately 400,000 people in North America and more than 1 million worldwide and the current market for MS drugs is estimated at more than USD$12 billion. It is a disease that affects more women than men, with onset typically occurring between 20 and 40 years of age. Symptoms of MS may include vision problems, loss of balance, numbness, difficulty walking and paralysis. In Australia MS affects over 15,000 people and worldwide MS may affect more than one million people. Progress ATL1102 for Stem Cell Mobilisation On 27 May 2015 the Company announced that it had signed a global agreement with innovative expanded access provider myTomorrows (Amsterdam, The Netherlands) to implement an Early Access Program (EAP) for ATL1102 for the treatment of Multiple Sclerosis (MS). Subject to myTomorrows receiving the requisite regulatory approvals and support for the ATL1102 EAP program, ANP expects to provide ATL1102 to MS treatment centres in the EU at prices that are comparable to current medicines used to treat MS. Initially the focus will be on those major European countries where the drug would qualify for use. Under the EAP agreement, myTomorrows will perform at their cost the EAP activities including relevant data collection and the seeking of the EAP approvals. myTomorrows are to receive a share of EAP related revenue less the cost of drug and associated pass through costs including those to Isis Pharmaceuticals from whom ANP in-licensed ATL1102. Stem cell transplantation is a medical procedure used to improve clinical outcomes for patients undergoing chemotherapy to treat cancer. The Company identified a potential application for ATL1102 as a stem cell mobilization agent for use in combination with G-CSF (the main agent used for hematopoietic stem cell mobilization) in stem cell transplantation. In July the Company announced the results of the proof of concept trial which showed that use of ATL1102 in combination with G-CSF did not appear to increase the release of CD34+ stem cells beyond that achieved with G-CSF alone and consequently was not planning to move forward with the clinical development of ATL1102 in the SCM indication. ANP is working to firm up suitable ATL1102 drug product supply and the initial quantities for use in the program while its partner, myTomorrows, is preparing documentation for physician education and the EAP approvals process. Patent News On 16 September 2014 the Company announced that the European Patent Office had allowed European patent application 09798248.2, entitled “Methods for Treating Multiple Sclerosis using Antisense Oligonucleotides” which extends coverage of the ATL1102 compound for the treatment of relapsing-remitting multiple sclerosis (RRMS) patients until 2029 with potential for up to 5 year extension to 2034. With this allowance the granting of the European patent is a formality and will take place in the coming months. What is Prostate Cancer? Prostate cancer is the second most frequently diagnosed cancer in men after skin cancer. Metastatic disease invariably progresses to hormone refractory or castrate-resistant prostate cancer (CRPC) if given enough time. Prostate tumours are initially androgen (male sex hormone) dependent, and can be treated with androgen ablation therapy (the term “castration” can be used to describe removal of the source of androgen), however once the disease progresses to its most dangerous and aggressive form, CRPC, treatment options are limited and prognosis is poor. Treatment options depend on disease severity and include radiation and chemotherapy, which are designed to induce programmed cell death (apoptosis) of tumour cells. There is a pressing need for the development of new treatment options for CRPC. ATL1102 for Asthma The Company has previously reported encouraging results achieved in an animal model of asthma with the inhaled form of an antisense compound targeting the VLA-4 molecule. Experimental studies showed that the delivery of an antisense drug against VLA-4 via inhalation to the lung significantly suppressed the key asthma indicators in allergen sensitized mice at very low inhaled doses, pointing to the potential application of ATL1102 as an inhaled treatment for asthma. The Company has conducted successful animal studies using inhaled ATL1102. Further development for the inhaled asthma application of ATL1102 would be undertaken with a partner. ATL1101 for Prostate Cancer ATL1101 is an antisense inhibitor of insulin like growth factor 1 receptor (IGF-Ir). IGF-Ir is one of the best known of a family of cell signalling molecules that are referred to as “anti-apoptotic”. These molecules prolong cell survival by inhibiting programmed cell death (apoptosis). Inhibition of cell survival molecules like IGF-Ir can render tumour cells more susceptible to cell death with cytotoxic (cell death inducing) drugs. Similar “chemosensitiser” therapeutic approaches targeting the IGF-Ir are under investigation in several large pharmaceutical companies, lending support to ATL’s antisense-based strategy against the same target. In animal studies ATL1101 demonstrated its effectiveness in suppressing human prostate cancer tumour growth in mouse models of human prostate cancer. ATL has previously undertaken certain toxicology studies on ATL1101 that would potentially position the drug to move into a clinical study in patients with prostate cancer. Further clinical development of ATL1101 would be anticipated to occur with a partner. R&D Tax Incentive During the year the Company received from the ATO a payment of $1,139,739 in relation to R&D expenditure incurred in the 30 June 2014 financial year. Capital Raising Through October and November 2014, the Company raised $2 million through a placement to institutional investors and a share purchase plan. ANNUAL REPORT 2015 3 Operations Report continued As referred to in the Projects Update section of the report, the Company received $2.5 million through a share issue to license partner Cortendo. These shares are held in escrow for up to 2 years. For further details, please refer to Note 16 Contributed Equity. Financial Position At 30 June 2015, the Company had cash reserves of $6,829,605 (2014: $1,334,513). Events after Balance Sheet Date No matters or circumstances have arisen since the end of the reporting period, not otherwise disclosed in this report, which significantly affected, or may significantly affect, the operations of the Company, the result of those operations, or the state of affairs of the Company in subsequent financial periods. Auditor’s Independence Declaration A copy of the Auditor's Independence Declaration as required under section 307C of the Corporations Act 2001 is set out on page 23. 4 ANTISENSE THERAPEUTICS Intellectual Property Report Antisense Therapeutics currently has 8 patent families with 63 patents registered and 12 patent applications pending covering its three antisense drugs ATL1101, ATL1102, and ATL1103 and their applications. Antisense Therapeutics has also licensed from Isis Pharmaceuticals, 19 Isis proprietary patents and applications directed to the antisense drug platform together with rights to 11 other Isis manufacturing patent families. Since reporting on the status of the Company’s intellectual property portfolio in the 2014 Annual Report the Company has successfully expanded its patent portfolio as follows: • 2 US patents and a Canadian patent and a key European patent have been issued and/or registered; o US 8,637,484, covering 48 other antisense to human GHr that reduce GHr has been registered and Canadian patent 2,517101 covering ATL1103 has been granted; o European application 09798248.2 covering ATL1102 in the treatment of relapsing forms of MS has been granted and registered in 10 European countries; and o US 9,084,770 covering the use of the ATL1101 compound and other antisense to IGF-IR for enhancing the sensitivity of IGF-IR positive tumors or cancer cells to a taxane has been issued; • A US continuation application 14/731203 has been filed covering the use of ATL1101 and other antisense to IGF-IR to treat IGF-IR positive prostate tumors or cancers; • A European divisional application of 09798248.2 has been filed covering the use of ATL1102 for the treatment of nonrelapsing forms of MS such as primary progressive and secondary progressive MS together with a corresponding Japanese Divisional. The progress outlined above has added significant value to an already extensive intellectual property portfolio. Key patents have been granted for all of the compounds in Antisense Therapeutics’ product pipeline that underpin Antisense Therapeutics commercialisation plans for its antisense drugs. Country Patent application or Patent No. Current Status Expiry US 7,803,781 Patent Registered 2025* US 8,299,039 Patent Registered 2024* US 8,637,484 Registered 2024* International PCT/US2004/005896 National Phase applications Australia 2004217508 Patent Registered 2024* Canada 2,517,101 Patent Registered 2024 Europe*** 04715642.7 Under Examination 2024* Europe*** 11194098.7 Divisional of 04715642.7 Under Examination 2024* Japan 2006-508878 Patent Registered 2024* Japan Divisional of 2006-508878 Under Examination 2024* New Zealand 542595 Patent Registered 2024 USA 7,846,906 Patent Registered 2024* USA 8,623,836 Patent Registered 2024* USA 14/137852 Continuation of US/12/953105 Under Examination 2024* International PCT/AU2013/000095 National Phase Applications Australian 2013214698 Filed 2032 Canada 2863499 Filed 2032 Europe 13743020.3 Filed 2032 Japan 2014-555044 Filed 2032 New Zealand 629004 Under Examination 2032 USA 14/376390 Under Examination 2032 International PCT/AU2014/000613 International Phase 2033 ATL1103 Patent Portfolio** ANNUAL REPORT 2015 5 Intellectual Property Report continued Country Patent application or Patent No. Current Status Expiry USA US 5968 826 Patent Registered 2018** USA US 6258 790 Patent Registered 2018*/** International PCT/US99/18796 National Phase applications Australia AU 759938 Patent Registered 2019* Canada 2,345,209 Patent Registered 2019 Japan 2000-574727 Patent Registered 2019* Japan 2006-000258 Patent Registered 2019* Europe EP1123414 Regional Phase - granted Denmark DK/EP1123414 Patent Registered 2019* Finland EP(FI)1123414 Patent Registered 2019* France EP(FR)1123414 Patent Registered 2019* Germany DE69934998.2-08 Patent Registered 2019* Italy IT40051BE2007 Patent Registered 2019* Spain ES2279632 Patent Registered 2019* Sweden SE99942290.0 Patent Registered 2019* United Kingdom EP(UK)1123414 Patent Registered 2019* ATL1102 Patent Portfolio** ATL1102 MS Patent Portfolio** International PCT/US2009/003760 National Phase applications Australia AU 2009271678 Patent Registered 2029* Canada 2,728562 Under Examination 2029 Europe*** 09798248.2 Regional Phase - granted Denmark Patent Registered 2029* Finland Patent Registered 2029* France Patent Registered 2029* Germany Patent Registered 2029* Italy Patent Registered 2029* Spain Patent Registered 2029* Sweden Patent Registered 2029* Switzerland Patent Registered 2029* The Netherlands Patent Registered 2029* United Kingdom Patent Registered 2029* Europe *** Divisional of 09798248.2 Filed 2029* Japan 2011-516297 Under Examination 2029* Japan 2014-208153 (Divisional of 2011-5516297) Filed 2029* USA 8,415,314 Patent Registered 2029* USA 8,759,314 Patent Registered 2029* 6 ANTISENSE THERAPEUTICS Country Patent application or Patent No. Current Status Expiry ATL1102 Inhaled Asthma Patent Portfolio** International PCT AU 2005/001634 National Phase applications Australia AU 2005327506 Patent Registered 2025* Canada CA 2,584,614 Under examination 2025 Europe EP1809302 Regional Phase - granted Denmark DK/EP1809302T3 Patent Registered 2025* Finland EP(FI)1809302 Patent Registered 2025* France EP(FR)1809302 Patent Registered 2025* Germany DE 60 2005 035 821.8 Patent Registered 2025* Italy IT73129 BE/2012 Patent Registered 2025* Spain ES2392449 Patent Registered 2025* Sweden SE1809302T3 Patent Registered 2025* United Kingdom EP(UK)1809302 Patent Registered 2025* Japan JP 2007-535071 Abandoned New Zealand NZ 554277 Patent Registered 2025 USA US 8,765,700 Patent Registered 2028* International PCT/AU2004/00160 National Phase applications Australia 2004210882 Patent Registered 2024 * Canada 2515484 Patent Registered 2024 Europe EP1597366 Regional Phase - granted Denmark DK/EP1597366 Patent Registered 2024* Finland EP(FI)1597366 Patent Registered 2024* France EP(FR)1597366 Patent Registered 2024* Germany DE1597366 Patent Registered 2024* Italy IT1597366 Patent Registered 2024* Spain ES1597366 Patent Registered 2024* Sweden SE1597366 Patent Registered 2024* United Kingdom EP(UK)1597366 Patent Registered 2024* Japan 4753863 Patent Registered 2024* New Zealand 541637 Patent Registered 2024 USA US7468356 Patent Registered 2025 * USA US8217017 Patent Registered 2025* USA 9,084,770 Patent Registered 2029 USA US14/731203 (continuation of US12/578,471) Filed 2029 Relying on data exclusivity ATL1101 Patent Portfolio** * Potential for up to 5 year extensions to the patent term once the product is a registered drug. ** ATL1101, ATL1102, ATL1103 are also protected internationally by other Isis proprietary antisense technology patents and applications to which Antisense Therapeutics has world-wide license including US7015315 to 2023. Antisense technology patents are potentially extendible for up to 5 years to 2028 in the US. *** Designates all member states of European patent countries including all extension states. ANNUAL REPORT 2015 7 Directors’ Report The Board of Directors of Antisense Therapeutics Limited present their report on the consolidated entity (referred to hereafter as ‘the Company’) consisting of Antisense Therapeutics Limited and the entities it controlled at the end of, or during, the year ended 30 June 2015. In order to comply with the provisions of the Corporations Act 2001, the Board of Directors report as follows: Directors The names of the Directors in office at any time during, or since the end of the year are as follows: Mr. Robert W Moses Independent Non-Executive Chairman Dr. Chris Belyea Independent Non-Executive Director Appointed to the Board: 23 October 2001 Last elected by shareholders: 1 November 2013 Qualifications: BA, MBA, FAICD, FAIM Appointed to the Board: 13 November 2000 Last elected by shareholders: 1 November 2013 Qualifications: BSc(Hons), PhD, FIPAA Experience: Robert (Bob) Moses was formerly Corporate Vice President of CSL Limited. Mr. Moses draws on more than 40 years’ experience in the pharmaceutical/biotechnology industry. During the period 1993-2001, Mr. Moses played a central role in CSL's development internationally. Prior to joining CSL, Mr. Moses was Managing Director of commercial law firm Freehills, Chairman and CEO of a NASDAQ listed medical service company, and Corporate Manager of New Business Development at ICI (now Orica). Mr. Moses is also the former Non-Executive Chairman of TGR Biosciences Pty Ltd. Mr. Moses also spent 17 years in various management roles at the multinational pharmaceutical company Eli Lilly. Experience: Chris Belyea has a PhD in physics from the University of Melbourne and is a registered patent attorney. He became the founding CEO of Antisense Therapeutics Limited in November 2000 and remained in this role until January 2002 (shortly after Antisense Therapeutics Limited was listed on the Australian Stock Exchange). He worked for the Australian patent firm Griffith Hack & Co for 5 years before joining Circadian Technologies Limited as its Licensing and Projects Manager in 1996. In 1998 Dr. Belyea became founding CEO and member of the board of biotechnology company, Metabolic Pharmaceuticals Ltd. He served with Metabolic as an executive until mid-2008, and now runs his own patent attorney practice. Interest in shares & options: Interest in shares & options: 3,024,434 ordinary shares and 708,001 options over ordinary shares. 285,579 ordinary shares and 61,222 options over ordinary shares. Committees: Chairman of the Remuneration Committee and member of the Audit Committee. Committees: Chairman of the Audit Committee and member of the Remuneration Committee. Directorships held in other entities: Nil Directorships held in other entities: Nil Mr. Mark Diamond Dr. Graham Mitchell Managing Director Independent Non-Executive Director Experience: Mark Diamond has over 25 years’ experience in the pharmaceutical and biotechnology industry. Before joining Antisense Therapeutics Limited as MD and CEO in 2001, Mr. Diamond was employed in the US as Director, Project Planning/ Business Development at Faulding Pharmaceuticals. Prior to this he held the positions of Senior Manager, Business Development and In-licensing within Faulding's European operation based in the UK and International Business Development Manager with Faulding in Australia. Appointed to the Board: 24 October 2001 Last elected by shareholders: 6 November 2014 Qualifications: AO, RDA, BVSc, FACVSc, PhD, FTSE, FAA Experience: Graham Mitchell through Foursight Associates Pty Ltd, acts as joint Chief Scientist for the Victorian Government Department of Environment and Primary Industries. Dr. Mitchell is a NonExecutive Director of Avipep Pty Ltd and is a Principal of Foursight. Dr. Mitchell has held the position of Director of Research in the R&D Division of CSL Limited and for many years was a research scientist at The Walter & Eliza Hall Institute (WEHI). He is currently a Board Member of WEHI. Interest in shares & options: Interest in shares & options: Appointed to the Board: 31 October 2001 Qualifications: BSc, MBA, MAICD 1,357,914 ordinary shares and 351,189 options over ordinary shares. 240,180 ordinary shares and 60,582 options over ordinary shares. Committees: Nil Committees: Member of the Remuneration Committee. Directorships held in other entities: Nil Directorships held in other entities: Nil Directors have been in office since the start of the financial year to the date of this report, unless stated otherwise. 8 ANTISENSE THERAPEUTICS Company Secretary Mr. Phillip Hains held the position of Company Secretary since the start of the financial year to the date of this report. Mr. Hains has served as the Company's Company Secretary and Chief Financial Officer since 9 November 2006. He is a Chartered Accountant operating a specialist public practice, 'The CFO Solution'. The CFO Solution focuses on providing back office support,