FOMO is coming .., page-211

"And with first right to refusal, they pretty much own us without paying for it ??"

Maybe.

Has it been confirmed in the public domain that Fuji has a first right of refusal and to what exactly that right applies?

I'm aware that in the 19 January 2017 announcement stated -

"In addition, the license option agreement includes
..
(b) certain rights to Cynata's proprietary technology for the prevention and treatment of other diseases".

"Exercise of the rights to these additional components attracts further fees".

I cannot get my head around how that statement from the directors has been allowed to stand without further disclosure to be honest.

Intellectual Property is what CYP sells and nothing else really. The announcement makes clear that "certain" (not fuzzy or unclear) rights have been made the subject of an options agreement so CYP management and Fuji had to know what those rights were and anyone else wanting to secure an agreement with CYP for any of the other indications could not have tried to do so without banging into a sort of disclosure from CYP that the license they sought was already promised to some extent to another - so the third parties would have found out by inquiry too.

What I don't get is how it could have possibly been not considered material to the share price exactly what those "certain rights" to "other diseases" was, and so how the director's didn't have to disclose exactly what those certain rights were and what the fees would be if exercised.

In the event that there is a take over by Fuji - and no one else took up a deal in the two years since Fuji struck the deal back in January 2017 it could look like the directors of CYP have done little but hold the door for Fuji and block entry to everyone else for over two years.

At the time of the original deal I get that it would have gone over as a great success, but in retrospect, depending what the "certain rights" were you may in effect be correct in questioning if Fuji didn't effectively get control of the company.

Just my opinion. Open to counterpoint.