Mr Roberts: We see the next step in this process as talking to parties interested in what SeerPharma has to offer and consider the best win-win business relationship for SeerPharma and the potential associates. The business model and the subsequent funding arrangements will very much rely on the outcome of any discussions that we may have.

India is already a leader in the pharmaceutical market and companies follow guidelines set by regulatory authorities. Isn't it too late to enter the India market now?

Mr Roberts: There is no doubt that the life sciences industry in India has improved its compliance to international standards significantly over the past few years. However, the regulators around the world are continuously "raising the bar", demanding ever-increasing standards of compliance. As a result, I think there is always going to be opportunity in providing compliance advice. However, there are already many consulting groups in India providing compliance advice. But there may be an opportunity for a group such as SeerPharma, which has extensive international experience in helping organizations maintain the highest level of global compliance standards at the right cost, in providing high-end advice to the industry in India. We also believe there is place for our quality management system software (iQA) since it provides users with an easily configurable system developed specifically for the life sciences industries.

We are talking to people with respect to some sort of arrangement to get iQA into the India market. However, we believe the greatest opportunity for SeerPharma in India is in GMP compliance training. My trip, as part of the Victoria Government Trade Mission, confirmed to me that there is a need and a market for a well-established and proven Masters in GMP qualification, such as the program we offer in conjunction with Swineburne University, enterprise specific GMP programs and our eLearning products. We will be pursuing interested partners to work with them in developing and delivering these programs to the life sciences industry in India.

China is another big market when it comes to the life sciences industry. Are you looking at entering the Chinese market?