At a glance Factor Therapeutics (ASX:FTT) is a Brisbane based biotechnology company. We are currently developing a product for the treatment of chronic ulcers, chronic venous leg ulcers. It is a very common disease in the elderly and it has certainly been described as a silent epidemic. We are developing this product on a global basis. In the United States we are classified as a drug, a biological drug. In Europe we are classified as a medical device. We are a recombinant biologic drug, which means it is a drug that is manufactured in cells. We manufacture these in yeast cells. We did a placement and a rights offering about a year ago at 3.5 cents and the stock price has done quite well since then. We are largely institutionally held. About 70 per cent of our shareholders are institutions, so we certainly enjoy an excellent shareholder backing for the company. Our market cap right now is about $50 million.