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ANNUAL REPORT 2009

II -BALANCE SHEET, STATEMENT of INCOME and respectiveANNEX

A Av. da Siderurgia Nacional. 4745-457 S. Mamede do Coronado. Portugal. Tel. +351 229866100· Fax +351229866199

www.bial.com.fundacao@bia1.com

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In the activity developed by the Bial Foundation along the year of 2009 we would

like to point out the following actions:

(i) The Ceremony of the Bial Award 2008, presided by the President of the

Portuguese Republic, Prof. Anibal Cavaco Silva, took place at the Institute of

Molecular Medicine - IMM -, in Lisbon, on the 6th May 2009. To this edition 36 works

were presented, out of 96 researchers, from 4 countries.

The Screening Committee, constituted by professors Joao Lobo Antunes

(President), Ant6nio Sousa Guerreiro (Faculty of Medical Sciences, University of

Lisbon), Henrique de Barros (Faculty of Medicine, University of Porto), Joaquim

Alexandre Ribeiro (Faculty of Medicine, University of Lisbon), Jose Cunha Vaz

(Faculty of Medicine, University of Coimbra), Jose Manuel Calheiros (Faculty of Health

Sciences, University of Beira Interior), Maria de Sousa (Abel Salazar Institute for the

Biomedical Sciences, University of Porto) and Nuno Sousa (School of Health

Sciences, University of Minho), awarded the Bial Merit Award in Medical Sciences to

the work itAvision for medical research in the new era of complexity: a new multimodal

integrative paradigm", from Professor Miguel de Sa e Sousa de Castelo Branco. The

Bial Award in Clinical Medicine was awarded to "Uma nova visao das doenc;as

reumaticas inflamat6rias: urn exemplo de interacyao da biologia celular e molecular

com a clinica", from professors Joao Eurico Cortes Cabral da Fonseca, Helena

Cristina de Matos Canhao, Mario Fernando Oliveira Viana de Queiroz, Jaime da

Cunha Branco and Drs. Maria Jose Parreira dos Santos, Ana Filipa de Sousa Pestana

Mourao, Elsa Cristina Vieira de Sousa, Joana Ribeiro Caetano Lopes, Rita Alexandra

Pedra AgUiar de Moura, Pamela Weinmann and Jose Alberto Campaniyo Pereira da

Silva.

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Three Distinctions were also awarded: "The role of epigenetics in the prognosis

and pathogenesis of acute lymphoblastic leukemia", from Dr. Xabier Aguirre Ena and

professors Felipe Luis Prosper Cardoso and Jose Roman Gomez; "Valor diagnostico e

analise custo-beneficio da monitoriza~o ambulatoria da pressao arterial das 24 horas

(MAPA) em cuidados de saude primarios no Centro de Saude de Sao Joao - Porto"

from Drs. Paulo Rui Fonseca Pessanha de Andrade, Manuel Jose Viana Goncalves da

Costa, Paula Manuela da Rocha Ferreira and professors Susana Elisabete Pereira

Bertoquini and Jorge Manuel da Silva Junqueira Polonia; "Saude para todos".

Mudando 0 paradigma da presta~o dos cuidados de saude em Sao Tome e

Principe", from Professor Ana Paula Santana Rodrigues and Drs. Paulo Manuel de

Valle-Flor Telles de Freitas, Ahmed Said Ahmed Zaky, Artur Aires Rodrigues de

Morais Vaz, Edgar Manuel Azevedo Agostinho das Neves and Antonio Soares

Marques de Lima.

(ii) During the ceremony of the Bial Award 2008, applications to the Bial Award

2010 edition were officially announced by the President of the Bial Foundation. In this

edition there will be an increment on the total cash value of the awards to €320.000,

being €200.000 to the Bial Merit Award in Medical Sciences and €100.000 to the Bial

Award in Clinical Medicine.

The Screening Committee of the 14th Bial Award edition will be constituted by

professors Nuno Sousa (President), Agostinho Almeida Santos (Faculty of Medicine,

University of Coimbra), Antonio Sousa Guerreiro (Faculty of Medical Sciences,

University of Lisbon), Carlos Lopes (Abel Salazar Institute for the Biomedical

Sciences, University of Porto), Henrique Barros (FaCUltyof Medicine, University of

Porto), Joana Palha (Life and Health Sciences Research Institute, University of

Minho), Jose Manuel Calheiros (Faculty of Health Sciences, University of Beira

Interior) e Leonor Parreira (Faculty of Medicine, University of Lisbon).

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As far as the one hundred and fifty-four projects which have received support

during the period 2000-2005, only seven are still in-course, having the remainder

already presented final results.

As far as the fifty-seven projects which have received support in the biennium

2006/2007, twenty-eight projects have already presented final results.

As far as the sixty-four projects which have received support in the biennium

2008/2009, the progress reports already received show a satisfactory development of

the in-course work.

In general, the final results of the finished projects justify the continuity of this

programme by the Foundation.

During the Bial Foundation's 8th Symposium, the interim or final results of some

of the supported works will be publicly presented.

The preparations for the organisation of the Bial Foundation 8th Symposium

"Behind and Beyond the Brain", which will take place from the 7th to 1OthApril 2010, at

Casa do Medico, in Porto, are ongoing.

The Organizing Committee, presided by Professor Fernando Lopes da Silva,

includes professors Alexandre Castro-Caldas, Caroline Watt, Dick Bierman, Mario

Simoes and Rui Mota Cardoso.

The 8th Symposium "Behind and Beyond the Brain" takes as its theme "Intuition

and Decision-making", which will be considered by experts from different research

fields. MUltiplefactors, neurological, psychological and social, condition the ability of an

individual to take decisions, whether rational or based upon intuition. Today, the

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various features of these behaviors are studied using different, although often

convergent, methods. This symposium is dedicated to the analysis and discussion of

these methods and to the results achieved recently.

Remarkable European and North American speakers have already accepted to

participate: Alexandre Castro-Caldas (Lisbon), Axel Cleeremans (Brussels), Caroline

Watt (Edinburgh), Cilia Witteman (Nijmegen), David Myers (Michigan), Dick Bierman

(Amsterdam), Eugene Sadler-Smith (Surrey), Eva Lobach (Amsterdam), Fernando

Lopes da Silva (Amsterdam), Hauke Heekeren (Berlin), John-Dylan Haynes (Berlin),

Marilyn Schlitz (Petaluma, California), Mario Simoes (Lisbon), Nuno Crato (Lisbon),

Richard Broughton (Northampton), Rui Mota Cardoso (Porto), Seymour Epstein

(Massachusetts) e Thomas Goschke (Dresden).

The 2010 Symposium follows the same general format as previous symposia. In

the opening session a general key-note lecture will be given by Professor Seymour

Epstein (Massachusetts) with the title "Intuition and Decision-making". In the morning

of the following three days 3 symposia will take place: the first is dedicated to the

"Neurobiology of the processes underlying Decision-making and Intuition"; the second

to the anomalous aspects of "Intuition and Decision-making" and the third to the issue

of "Intuition and Decision-making" in the context of social life, especially in business

and clinical settings, and on the potential consequences and dangers of "Intuition".

The Symposium also offers multiple opportunities for the exchange of ideas

among the invited lecturers, the BIAL Foundation Fellows and the pUblic in general, by

way of oral communications from the Fellows who most recently finished their projects,

poster sessions and also an "Open Encounter" evening where the public can debate

the theme "Intuition and Decision-making" with the lecturers.

We wish to thank the valuable collaboration given to Bial Foundation by all the

members of the Scientific Board and the Screening Committee of the Bial Award, by

the University of Porto, by B.P.1. - Banco Portugues do Investimento, as well as the

courtesy of the Portuguese Medical Association.

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Finally, we must express with great recognition the efficient support that was

given to us by Drs. Paula Guedes and Antonio Branco da Costa.

Luis Portela (Chairman)~'-4-

3---\;:.1nM.4~.Daniel Bessa (Member)

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II -BALANCE SHEET, STATEMENT of INCOME andrespective ANNEX

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Institution of public utility

YEAR

2009 2008

ASSETS AD AP AL AL

FIXED ASSETS

Intangible Fixed Assets

Tangible Fixed Assets

Financial Investments

CURRENT ASSETS

Short-term Receivables:

Trade Customers

State and Other Public Entities

Other Financial Instruments

Bank Deposits and Cash 3.547.818,19 3.547.818,19 3.691.765,19

3.547.818,19 3.547.818,19 3.691.765,19

PREPAYMENTS AND DEFERRALS

Prepayments and Gains 4.617,92 4.617,92 110.411,31

Deferred Costs 1.665.036,00 1.665.036,00 3.273.193,50

1.669.653,92 1.669.653,92 3.383.604,81

TOTAL ASSET 5.217.472,ll 5.217.472,ll 7.075.370,00

Thr1d ;foyors

1 Y

Luis Portela (Chainnan)

~~

Nuno Grande (Member)

3~~d.\('-·DanielBessa (Member)

A Av. da Siderurgia Naeional. 4745·457 S. Mamede do Coronado· Portugal. Tel. +351229866100· Fax +351229866199

www.bial.com·fundacao@bial.com

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Institution of public utility

YEAR

EQUITY AND LIABILITIES 2009 2008

EQUITY

Founders Donations 2.750.000,00 2.750.000,00

Free Reserves

Other Reserves

Result Brought Forward 1.052. I76,50 690.062,57

Subtotal 3.802.176,50 3.440.062,57

Result For the Year (249.740,39) 362.113,93

Total Equity 3.552.436,11 3.802.176,50

LIABILITIES

Suppliers

State and Other Public Entities

Other Creditors 1.665.036,00 3.273.193,50

1.665.036,00 3.273.193,50

ACCRUALS AND DEFERRALS

Cost Accruals

Deferred Income

TOTAL EQUITY AND LIABILITIES 5.217.472,11 7.075.370,00

Th/~f7)S

"--J~Luis Portela (Chairman)

.-../l/'.~

Nuno Grande (Member)

3 :a.~ ~d.lr-·Daniel Sessa (Member)

A Av. da Siderurgia Nacional. 4745·457 S. Mamede do Coronado. Portugal. Tel. +351229866100. Fax +351229866199

www.bial.com·fundacao@bial.com

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DIAL FOUNDATION

STATEMENT of INCOME referring to 2009.12.31

YEAR

REVENUES AND GAINS 1009 1_

SALES AND SERVICES RENDERED 0,00 0,00

GOVERNMENT GRANTS 1.399.995,00 1.l04.929,36

SUPPLEMENTARY REVENUES AND OTHER 150.00 14.400,50

B ... 1.400.145,00 1.129.329,86

GAINS FROM OTHER FINANCIAL INSTRUMENTS

OTHER INTERESTS AND SIMILAR REVENUES 64.904,80 144.658,53

0..... 1.465.049,80 1.273. 988,39

EXTRAORDINARY PROFITS AND GAINS

F... 1.465.049.80 1.273.988,39

SUMMARY:

OPERATING RESULT (B)-(A)~ (312.406,91) 219.949,55

FINANCIAL RESULT: ( (O)-(B) ) -( (C)-(A) ) ~ 62.666,52 142.164,38

RECURRING RESULT: (D) - (C) ~ (249.740,39) 362.113,93

NET INCOME: (F) - (E) ~ (249.740,39 ---...... 362.113,93

7e Bofd o:~ee:7

Luis Porrel. (Chairman),---z-.-:::z--

Nuno Gnmde (Member)

3e.-~~,('-·Daniel Bess. (Member)

A Av. da Siderurgia Nacional. 4745-457 S. Mam,de do Coronado. Portugal. Tel. +351229866100· Fax +351229866199

www.bial.com·fundacao@biaI.com

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DIAL FOUNDATION

STATEMENT of INCOME referring to 2009.12.31

YEAR

COSTS AND LOSSES 2009 2008

EXTERNAL SUPPLIES 22.029,71 22.029,71 114.145,70 114.145,70

PERSONNEL COST

Wages

Social Charges and Other

AMORTIZATION I DEPRECIATION

TAXES

OTIlER OPERATIONAL COSTS

Research Grants 1.475.522,20 795.234,61

Bial Award 215.000,00 1.690.522,20 795.234,61

A. .. 1.712.551,91 909.380,31

INTERESTS AND SIMILAR COSTS 2.238,28 2.494,15

c. .. 1.714.790,19 911.874,46

EXTRAORDINARY COSTS AND LOSSES

E .... 1.714.790,19 911.874,46

NET INCOME FOR TIlE YEAR (249.740,39) 362.113,93

1.465.049)!ll --....... 1.273.988,39

7eidlf~- V

Luis Portela (Chainnan)

~~Nuno Grande (Member)

3~~~·~-·Daniel Bessa (Member)

A Av. da Siderurgia Nacional· 4745-457 S. Mamede do Coronado. Portugal. Tel. +351 229866100· Fax +351 229866199

www.bial.com·fundacao@bial.com

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ANNEX TO THE BALANCE SHEET AND STATE OF INCOME for 2009 ofTHE BIAL FOUNDATION

The SIAL Foundation was established in 1994 to stimulate the scientific study of Man,both physically and spiritually. To this end, the Foundation has created awards intendedto reward scientific research work, with particular emphasis on medical research. It runsa system of grants for scientific research and promotes other projects with similar goals.

The notes below relate to the numbering defined by the Official Accounting Plan (poq,and those not included in this Annex either do not apply or their presentation is notrelevant to the reading of the attached statements.

The financial statements have been prepared in euros, in compliance with the accountingprinciples established in the Official Accounting Plan. They have thus been preparedaccording to the historic cost convention and on a going concern basis, in keeping withthe accounting principles of prudence, accrual accounting, consistency and materiality.

a) These Financial Statements are presented in compliance with the model resultingfrom the changes introduced by Decree-Law no. 35/2005, of 17 February.

b) The Founders' donations, as well as those from third parties, are fully recognised asearnings in the financial year in which they are received (subsidies).

The research grants awarded are initially recorded in Liabilities (Other Creditors) anddeferred for the period of the grants contract (Accrued Costs), being recognised as a costin the financial year on the date of each payment.

A Av. da SIderurgla Naelunal. 4745-457 S. Mamede do Coronado. Portugal. Tel. +351 229866100. Pax +351229866199

www.bial.com·fundacao@bial.com

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The BIAL Foundation was recognised as exempt from IRC for the income of categories B,E, F and G of the Corporate Income Tax Code (CIRC).The exemption applied from 1998.03.24 and is conditioned by the continued observanceof the requirements established in subparagraphs a), b) and c) of no. 3 of Article 10 of theCIRC.

30. There are no debts to third parties covered by secured guarantees provided by theCompany.

37. The Founders' Donations is €2 750 000, corresponding to cash donations made by BIAL- Portela & ca., S.A. and the Chairman of the Board of Directors, Dr. Luis Portela.

A Av. da Siderurgia Naeional. 4745-457 S. Mamede do Coronado· Portugal. Tel. +351 22 986 6100· Fax +351229866199

www.bial.com·fundacao@biaI.com

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Opening Increases Allocation Closing balancebalance

Founders'Donations 2.750.000 - - 2.750.000

ResultBroughtForward 690.063 362.114 - 1.052.176

Net Income 362.114 (249.740) (362.114) (249.740)

TOTAL 3.802.177 112.374 (362.114) 3.552.436

No events are known to have occurred after 2009.12.31 that could influence thepresentation and interpretation of the financial statements reported on that date.

49. The information and explanatory notes presented seem to us to be sufficient to permit theunderstanding of the financial situation and the profit/loss of the SIAL Foundation in2009.

The Soa~ectors

------+----1~

Luis Portela (Chairman)

---v/~

~~\~~c\l ~-,.Daniel Sessa (Member)

A Av. da Siderurgia Nacional. 4745-457 S. Mamede do Coronado· Portugal. Tel. +351 229866100· Fax +351229866199

www.bial.com·fundacao@bial.com

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Funda~ao Sial

Report and Opinion of the Audit Committee

In accordance with the statutes and the performance of their duties, the Audit Committee of BIAL

Foundation presents its report on review activity and opinion on the Report of the Board and Financial

Statements for the year ended 31 December 2009.

The Committee monitored the Management of the Foundation throughout the year, noting the

following:

a) Donations totalling 1.399.995 Euros were received from the founder Bial - Portela & ca. S. A.

(400.000 Euros) and from a foreign foundation (999.995 Euros).

b) In 2009, the Foundation paid out scholarships totalling 1.475.522.2 Euros and Bial Award

2008 in the amount of 215.000 Euros. At the year-end, scholarships granted but yet paid

amounted to 1.665.036 Euros.

The Committee has analysed the financial statements, drawn up as at 31 December 2009 from the

accounting records. and reviewed the report presented by the Board of Directors which sets out the

development of the Foundation's activities.

Based on the above. the Audit Committee of BIAL Foundation considers that the Report and Financial

Statements for 2009 meet the legal and statutory requirements and accordingly proposes:

b) A vote of confidence in the Board of Directors and Scientific Council for the way in which the

Foundation was managed so as to fulfil its objectives of the development of scientific and

medical research.