cashed up, ready to make medical history, page-7

Yes, quite right Supermajor, one unequivocal success (and it doesn't even have to come from us, it could come from Callimune, Genable or Gradalis) and it validates the whole platform technology, instantly raising BLT into another tier of biotech.

You could argue that Uniqure (with it's drug Glybera now on the market) has already validated the approach with it's similar vector genetic engineering and the initial results from Gradalis are also very encouraging.

But success in a pure ddRNAi trial is what we are waiting for.

Then we have the patent question, and it is not impossible that the gatekeeping Graham patent might be extended past 2018.

So it is clear that a punt on Benitec is potentially worth a lot more than any other RNAi company.