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VIROPRO INC.
	Stock symbol: OTC BB:VPRO.OB		Float: 616,000, average daily volume 7,613
	Stock price: 3/31/04: $.51		Common shares: (3/31): 4,116,974
	52-week price range: $0.07 - $2.55		Equity market capitalization: $2.1 million
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	Listen to the Interview with Robert Egery (March 31, 2004)
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SUMMARY
Viropro has positioned itself through acquisition and internal growth in the healthcare software and biotech life sciences markets.
Targeted acquisition plan to roll-up life science and biotech properties.
Address: 3163 Kennedy Blvd, Jersey City, NJ 07306 Telephone: (954) 420-2882 Independent Accountants: Bennett Thrasher PC Investor Contact: Jerome Cliché, telephone (514) 876-1801
BUSINESS
ٱ Health-care software.
This acquisition of CNC will be concluded upon the completion of due diligence and the final confirmation of the S-4 Registration Statement that was filed with the SEC in February 2004.
ٱ Biotech technology transfer agreements (in process).
ٱ Acquisitions – Viropro seeks other revenue-producing acquisition targets.
FINANCING
ٱ $1 million commitment, with the potential availability of additional financing on a project basis, including acquisitions
MARKETS
Healthcare Software
ٱ With a footprint in the Canadian market where healthcare is government subsidized and efficiency is mandated, Viropro (CNC) is well positioned to execute its business plan.
ٱ Canada operates in a “socialized medicine” framework wherein healthcare institutions do not work to clear profit and loss financial reporting requirements.
ٱ Achieving costing visibility has been an ongoing challenge especially as government bodies look to streamline and make better use of hospital budgets.
ٱ Numerous government-sponsored reports have recommended the use of “activity-based” or “case-costing based” financial tracking and analysis methods. This capability has hereto required hospitals to look to major systems integrators for “heavy” multi-million dollar enterprise systems. These solutions have proven too costly, overly intrusive to other software architectures already in place, and bear significant implementation risk.
CNC (in process of acquisition by Viropro, see above), using the adapted Kreg software (see ‘products’ below), is essentially the only company in Canada to offer case-costing as an off-the-shelf, cross-platform, low risk and minimally intrusive software solution.

Biotech

The Company has already established contacts in China and Brazil and has cultivated the business and regulatory contacts required to operate in these markets and is on schedule with its expansion in these massive territories. Meanwhile, the company continues to search the globe for other beneficial opportunities.

PRODUCTS

Healthcare Software

ٱ CNC develops/licenses and delivers decision-support software and related professional services used primarily in the healthcare industry.

ٱ CNC currently holds marketing and development rights, under license, to an application focusing on cost management in the healthcare sector; and holds proprietary rights, through prior acquisition, to a human resources management software suite targeted to the healthcare sector as well as niche applications in the small-to-medium-sized business market.

Cost Management

• CNC holds the exclusive distribution rights in Canada for a healthcare cost management system developed by Kreg Corporation  of Atlanta, Georgia, known in Canada as 'Pyramid'. CNC also holds non-exclusive distribution rights for countries other than Canada and the United States.

• Kreg's enterprise-wide systems produce accurate, timely, and cost effective results, year in and year out, for hundreds of healthcare organizations across the United States. Over 300 healthcare organizations use Kreg's products and services, making Kreg the largest vendor of comprehensive, stand-alone PC-based software for financial modeling, budgeting, cost accounting, patient profitability and managed care.

• CNC has translated Pyramid into French and customized Pyramid for the Canadian market.

• Over 2000-2003, CNC adapted the Kreg product to the specific requirements of the Québec and Canadian healthcare systems. This involved the development of new software modules (e.g., bed management), interfaces to legacy software systems used by the customer and other general modifications to adhere to local healthcare requirements.

ٱ Over the past 12 months CNC has secured two significant launch contracts for its cost management software at two Québec hospitals: Sacré-Coeur of Montréal and Hôtel-Dieu of St. Jérôme.

ٱ Target Markets for Pyramid include public and private healthcare establishments in Québec, across Canada and select countries internationally, such as France (where CNC has already begun marketing), Brazil and China.

ٱ With Pyramid software users can…

• Establish uniform costs per patient, per diagnostic, per activity center, per APG (Ambulatory Patient Group), DRG (Diagnosis Related Group), etc.

• Establish a care standard protocol for each diagnosis.

• Bring out the intensity level of human, financial and material resources used by episode of care as well as by activity center.

• Manage the activities and care provided in order to lower the patient's length of stay.

• Easily obtain performance indicators and make any necessary adjustments as quickly as needed.

• Evaluate the financial resources required to meet future needs.

Human Resources

ٱ Over the last 12 months CNC has also delivered a version of its Human Resources Management software ("Win") to another Québec hospital: Centre Hopitalier Anna Laberge.

ٱ January 2004, the Company decided to discontinue WIN software development because market analysis revealed insufficient market demand. Consequently, the Company is talking to interested parties with the intention of selling the Intellectual Properly of the WIN software.

Pyramid Competition from the recent S-4 SEC filing

ٱ At least in the Canadian market, it appears that "no other company can offer 'Case Cost Management'; that is, the ability to track direct and indirect costs by medical case, by episode of care, by patient, by diagnosis, by doctor etc."

ٱ "Case Cost Management is likely to evolve as a new standard, certainly in the Canadian healthcare system, to provide hospital administrators and government bodies with the ability to evaluate and compare financial performance between hospitals, between hospital regions and even between hospital systems on a province to province basis – from there being able to make strategic decisions aimed at improving efficiencies and the overall standard of healthcare."

ٱ "This niche product is further differentiated by the fact that the Pyramid software is an open-architecture and independent module that is, by definition, very straightforward to integrate to legacy client software. The product is easily implemented, calling for minimum staff-loading and training."

ٱ "It is also the only case-management software to be recognized by the Canadian Institute for Health Information (CIHI)"

ٱ Competition for Pyramid could come from two directions:

• Companies that today specialize in ERP-Level Solutions. These solutions are normally platform-dependant, labor-intensive for the user and too costly.

• Companies that today provide Financial, Clinical & Records Solutions.  These heavy applications, which usually require full Integration, do not represent true case-cost management.

Biotech ٱ November 25, 2003, the CNC entered into a Memorandum of Understanding to acquire the assets of CIHC BIODEV Inc., a Canadian company specializing in the marketing of products, technologies and expertise pertaining to the expansive field of Life Sciences. • Initially this association involves the establishment of technology transfer and marketing agreements between Canada, the US and Brazil for a range of products, primarily in the human and animal biotechnology sector.   • This transaction is subject to the satisfactory completion of mutual due diligence investigations and the negotiation and completion of a long form agreement.

ٱ Biodev has numerous agreements in various stages of completion with several enterprises in Brazil involving both the purchase of licensed products for sale into Brazil, and possible technology transfer, and the licensing of products from Brazil for sales into North America.

ٱ Products

• Interferon (FDA Approved)

• Rapid Diagnostic Tests (HIV 1&2, Hepatitis B&C, Syphilis, Gonorrhea, Chlamydia, HCG)

• Growth Hormones  (EGF, HGH, FSH)

ٱ Three Growth Factor Drugs

• GCSF (Granulocyte Colony Stimulating Factor)

• GMCSF (Granulocyte Macrophage Colony Stimulating Factor)

• Interleukin (OMIT)

ٱ Ready-to-screen compounds derived from Brazilian biodiversity.

• Within the legal framework of the 1992 Convention on Biological Diversity

• These unique compounds and products derive from molecules originating from the Brazilian Rain Forest and Amazon.

GROWTH PLAN

Healthcare

ٱ Quebec showcase is complete, use as a base for sales and marketing

ٱ Acquire related revenue producing streams

ٱ Discussions and negotiations for several new installations are in progress

Bio Tech

ٱ Sell generic products in Brazil based on agreements with US firms.

• Interferon (FDA approved)

• Growth factors (GCSF, GMCSF, OMIT)

• Growth hormones (EGF, HGH, FSH)

• Rapid diagnostic tests (HIV 1&2, Hepatitis B&C, Syphilis, Gonorrhea, Chlamydia, HCG)

ٱ Agreement with Biolab Pharma (largest pharmaceutical supplier in Brazil, part of Castro Marques Group)

• Partner, distributor and supplier in Brazil

• Technology transfer

ٱ Partners for rapid testing Brazil

• FK Biotecnologica (S. Brazilian firm that focuses on R&D, production and distribution of immunodiagnostics kits)

• Biodev to provide tech transfer and production of rapid diagnostic tests (Hepatitis B & C, HIV, Malaria, Cholera)

• Size of Brazilian immunodiagnostics market:  $1 billion

ٱ Sources of molecules and products in Brazil include Extracta Moleculas Naturais S.A., Cenargen/Embrapa, Fapesp, Natura

ٱ Why Brazil as a portal launch point

• 5th largest country by population and size

• 10th largest market in drug purchases

• National generic drug acquisition policy

• Gateway to South America

• A technology source

• Large-scale turnkey projects (pharmaceutical parks, hospitals, etc.)

FINANCIAL

To reduce overhead, CNC cut headcount from over 40 people in January 2003 to 12 people by January 2004.

MANAGEMENT

Seasoned management came on aboard in the last year.

Robert Egery

Mr. Egery has over 20 years of business management experience in international high technology markets.

From 1981 to 1994, he worked for AlliedSignal Aerospace (Honeywell Canada) starting as a Sales Representative and being promoted to Sales Manager, and then to Director International Sales, within two years. In 1987 he was promoted to Vice-President, Marketing & Contracts, giving him broad responsibility for the company’s product lines ranging from aircraft engine controls and instruments to complex defense and electronic systems which were being sold on an international scale.

From 1994 to 1998, Mr. Egery worked for Lockheed Martin Canada as Vice-President, Business Development. In this role he was responsible for “front-end” business operations of this large-scale systems integration company, with a backlog of several billion dollars, specializing in complex command and control electronics for military platforms.

From 1998 to 2000, he worked for Bombardier as Group Director with profit and loss responsibility for Regional Aircraft Customer Training.

In December 2000 Mr. Egery took over as President and COO of DSI Datotech Systems Inc. a Canadian, publicly traded technology start-up (TSX Venture:DSI) specializing in “gesture recognition”, a technology enabling users to communicate and create commands with computers and appliances using hand gestures. Mr. Egery joined CNC in November 2002 as its President and CEO.

Gary Chamandy-Cook

Mr. Chamandy-Cook has a strong financial and business background based on over 20 years experience at senior management levels for various public and private enterprises.

From 1977 to 1980 he worked for Procter & Gamble as a Product Brand Manager. He then joined Genfoot Inc, a leading importer and manufacturer of footwear with sales exceeding $45 Million, as a Vice President and Director of Marketing where he worked from 1980 to 1989.

From 1989 to 1998 he was President & CFO of Radius Maple Leaf Footwear Inc.  From 1998 to 2000 he was General Manager Marketing/Sales, Maple Leaf Division for Regence Inc. He then joined VDO Road Digital Inc. as Chief Financial Officer and COO in  2000 and later, in 2001, became Vice-President Finance and Administration of DSI Datotech. In November 2002, he became Chief Financial Officer of CNC.

He holds a Bachelor of Commerce (Finance and Marketing) from McGill University in Montréal.

Michel Lavallée

Mr. Lavallée brings over 20 years experience with complex computerized systems, most of which was spent in various management positions for small, medium and large companies. Broadly recognized for his leadership abilities and innovative techniques, he brings particular background in managing technology development.

From 1982 to 1987, he served in the Canadian Armed Forces where from 1982 to 1983 he was a Systems Analyst. From 1984 to 1987, he held the position of Section Manager.

In 1987 he joined Paramax Electronics where, through to 1993, he held successive positions in Project Management and Engineering on the Canadian Patrol Frigate and New Shipborne Aircraft programs.
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