The continued geographic spread of H5N1 avian influenza has attracted widespread attention and concern across both the private and public sectors. What follows is an edited transcript of a recorded bio-era web-presentation and discussion held on January 31, 2006 to discuss recent developments related to H5N1. With contributions from a distinquished panel of outside commentators, bio-era principals and associates, James Newcomb, Steve Aldrich, and Rob Carlson review the latest developments and discuss the implications of the spread of H5N1 west into Turkey and beyond.