Ann: Strategic Review of Cynata Clinical Development Portfolio, page-10

1. New CEO seems to be following the old CEO - can't help but mention Mesoblast in interviews; and

2. Openly admits that if Mesoblast receives FDA approval that there is the possibility of off label use in adults - how anyone can believe that this won't impact recruitment in some way for the proposed CYP phase 2 GVHD trial is beyond me ? Off label use could include aGVHD as well as sr-GVHD if medical professionals want to try it ? Prospective CYP trial participants then have to make a choice of do I choose being guaranteed a similar treatment off label or a 50% chance of placebo (SOC) in the CYP trial ? Will be interesting to watch recruitment numbers once it all gets underway IMO ?

Maybe Dr Kelly is attempting to soften the blow in case further down the track even after (IF) the CYP GVHD trial starts he can justify pulling it due to lack of recruitment numbers ?

I bought some in the 14's for the OA trial alone .... GLTAH