Investment

Today I went with an accountant friend to hear a presentation by someone looking for people to invest in his biotech company. He has a new medicine which he says can treat - relieve, not cure - a list of diseases which make your eyes water: HIV/AIDS, Multiple Sclerosis, Hepatitis C, some forms of arthritis, open wounds. It can be used to treat race-horses too. He has spent the last several years battling the pharmaceutical giants who (according to him) really wanted to suppress this new drug, and are now trying to get into discussions with him so they can buy it from his company.

He was an interesting fellow - hating scientists and academics he said, ignoring regulations, with fantastic connections (Gordon Brown, Elton John), ready to argue with anyone.

One of the people in the room was a pharmacologist who had money to invest - he took a bit of the flak and then walked out early.

So far, the people who have invested in this company are the little people - individual doctors, firms of accountants, a judge, some solicitors, and grateful family members whose relatives have been included in the miraculous trials which this drug has already undergone. The speaker had wild ideas about the value of his company - 'millions' and 'billions' were words floating around.

We saw how one simple injection could transform the life, strength, vision, or mobility of many different patients. Families devastated by disease suddenly had hope again. Our presenter evidently takes shots of this stuff every few days and has never felt so well. He's in his 70s but feels hale and hearty. He says post-menopausal women have to start using contraception again if they take his medicine, as their youth is restored to them and they start ovulating.

Clearly, this drug would be a knock-out, if all he says is true. Who would not want to have shares in it? But, I am not sure. Maybe this was not the best person to make a financial presentation. He mostly wanted to talk about the various fights he's had over the years proving to people that his serum works. I have asked for some detailed accounts and will make my decision later.