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Re: [sharechat] Genesis

From: "" <>
Date: Mon, 26 May 2003 14:55:41 +1200

Hi mvanv  (Mick)

>> Doctor prescribes grow-your-own power 
>> 24.05.2003
>>Dr Jim Watson has a startling new vision for New Zealand's economic
>>future. He wants us to grow our own energy. 
>> The chief executive of New Zealand's largest biotechnology company 
>> Genesis Research & Development - has big plans to take his science
>> beyond medicine and food. 
>> He is proposing to engineer plants that can be used to create
>> alternative fuels and biodegradable plastics. 
> >
> >This is not just academic theory. The seeds of his vision were sown
>> last month when Genesis announced its strategic plan to split in two. 
> Sounds like Genesis has well and truly lost the plot.

There seems to be a bit of Genesis bashing going on, and I think it is 
time to put Jim Watson's comments into perspective.

First, this news report does not seem to be part of any release of any 
information to the stock exchange.   So it sounds to me like it was the 
product of some kind of newspaper interview in which Watson was 
encouraged to speak out about the potential of Biotechnology.  Just 
because he did so, I don't think it's the same thing as saying that he has 
gone off his tree.   Watson freely admits that the seed capital for 
biotechnology is not there as it was at the time of the biotechnology 
boom.   So what is wrong with flying a kite to try and get some less 
traditional backers of of biotechnology ( like waste disposing companies 
and energy producers) interested?

Furthermore the science needed to bring these visions of the future to 
fruition is within the core competance of Genesis to bring about.   
Mucking about with grass to make it more disease resistant, and 
mucking around with plants so that they can produce more material for 
fuel are two applications of the same technology.  

It is true that most biotechnology experiments ultimately 'fail' in the 
sense of achieving completely their original objective.   But just like 
Macdunk's flounder fishing machine, there is some 'scrap value' in these 
failed experiments.   All these 'failed' experiments go back into 
improving the biotechnology techniques that are the core competance of 
Genesis Research.  The effort is not completely wasted.

Finally it is in the nature of applied research to always be looking out for 
new applications for the technology you are working with.   The more 
'end line customers'  that see a positive gain from what you have 
achieved the more your reseach can be amortised amongst them.  
Spreading operating costs out over more sales is sound business 


discl:  Indirect shareholding in GEN through my interest in WRI

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