appendix 3b new shares, page-64

That is a double edged sword BJ. Shareholders want to maintain as much ownership as possible but standing alone will bring more dilution, while the partnering will take away a % profits. Time is ticking by on the patent life and the sooner Prana partners with big pharma the faster PBT2 will get to market and begin earning block buster profits. This is a race and Prana doesn't have what it takes to get to the finish line on their own.

Perhaps Prana will partner just for PBT2 and will maintain 100% control of the rest of it's MPAC portfolio.