Ann: UPDATE ON TASLY TRANSACTION, page-63

Actually the figures in dollars were there if you followed the links, for both sets of assumptions.

Now it's my turn, you have not responded to my question, twice now.

If you think this is a wonderful deal for Tasly what are the normal royalty rates paid to a small bio-pharmaceutical company? As you can see I have worked on a 10% royalty to Mesoblast because the royalty is referred to as a double digit escalating royalty, I stayed on the conservative side.

What is the normal royalty paid by large bio-pharmaceutical companies to a smaller partner. I've seen as low as 3%. If it helps put CSL Behring or Merck on the other side of the equation rather than Tasly. What do CSL Behring or Merck pay out as a royalty to partnering small bio-pharmaceutical companies?

Until I can see figures that can be verified then how can there be any sane discussion, or an assertion that this is a flaming red hot deal for Tasly!

A couple of other questions, who are you quoting for the word colossal in

3. the "colossal" commercial opportunity

Can you reproduce here or hyperlink to a set of terms and conditions for an executed partner agreement currently in force that you consider fully enough disclosed, per

(to the extent that they have been disclosed, that is, which is admittedly not very much) of this agreement with Tasly.

And on the undisclosed royalty rates and deals that you have assigned;

But "better-than-nothing" is completely different to the sort of jaw-dropping, eye-popping, gold-plated, premium deal which Big Pharma would not be willing to match.... which is what you are trying to argue.

No, that is not my position.

On the other side, yes I suspect that Big Pharma would become able and willing to match that deal for the remainder of our planets human population as the trial results come in but by the sound of it there is more than one competitor.