Ann: Investor Presentation, page-12

If you think we are frustrated at the market unable to connect the dots on this one, imagine how the Prof and Anderson feel!

They sold (some) of the rights of ACI to Vericel for $55 million (and I fear that did not include Vericel shares). Whilst VCEL's success in the US a lot do with its early thermal burns autologous grafts, increasingly its coming from MACI (combination of ACI and a collagen membrane).

I sold some of my VCEL shares early this morning in what is now a US $1.5 billion company (and will be buying more OCC with the cash if it comes lower).

PA and the Prof must just be scratching their heads and ruing the direction they took in trying to establish a successful Australian company in this field, rather than simply joining Vericel in the US at an exec. level.