Statement from the CEO
Greetings.
Busch Apothecary had a rather uneventful Q1 with hardly any reportable progress on key matters. Happily, Q2 brought with it, some important developments which gave us the basis for some strategic re-adjustments.
1. BIOPROSPECTING PERMIT APPLICATION.
The South African Department of Environmental Affairs informed us that our first Bioprospecting Permit (BP) application was gazetted in the Government Gazette of the Republic of South Africa. This is the final step in their process to ensure that the intended uses of our developmental products, are not another individual or community’s Intellectual Property or Indigenous Knowledge System. There were no such claims, of course.
We will soon celebrate this landmark achievement.
Without a BP we cannot conduct Research and Development(R and D) on any of the assets on our rich Pipeline.
In parallel to the South African Environmental Affairs BP applications, we have started a process through which we shall seek BP or equivalent permits from neighbouring States, in which our plants of interest grow. To this end, we have learnt of the relatively straightforward process in Zimbabwe where many of our Pipeline plants grow in the wild, under protection and under cultivation. We have a modestly sized, fenced and protected plot in the Masvingo District of Zimbabwe, on which several of our species currently grow.
The above exercise should offer us a viable alternative pathway for the acceleration of our R and D pace. Busch Apothecary needs a long term diverse source of plant materials and reduce our dependence on the South African environment.
Our Research and Development partners, Paarl based Afriplex, eagerly await the requisite Importation Permits and Bioprospecting Permits to start our processes with all the Regulatory documentation in place.
Over the next 8 weeks I shall be informing our collaborating organisations; the Innovation Hub, Gauteng Enterprise Propeller, CSIR and Afriplex (Pty) Ltd of these new developments and their impact on targets and timelines.
On the subject of Bioprospecting Permits, it appears like the completion of one application by the Department of Environmental Affairs takes between 18 and 24 months. I have therefore decided to invest time and resources over the next 6 months to ensure that by the end of Q 1 2017, we will have lodged BP applications for the top 10 developmental prospects on our Pipeline. This, I believe will take Busch Apothecary to a new level in the short term.
2. SEARCH FOR INVESTORS
We continue to search for substantial investors who may be interested in Busch Apothecary or any of the individual developmental assets in our rich product pipeline.
There have recently been exciting possibilities in this regard and hopefully we shall secure some investment in the short to intermediate term. I will naturally be delighted to make the announcement when the right time comes.
Thank you for your continued interest in Busch Apothecary. If the progress appears a tad slow, all I can say is that this is the “nature of the beast” however we have concrete plans to hasten the pace.
All the best for the future.
Yours sincerely.
Zi
