Ann: Chairman's Address at 2018 Annual Shareholders' Meeting, page-31

with regards to a perceived lack of sophisticated investment post consolidation, Treagus appeared almost a little annoyed at the suggestion stating US$4 million from yet unnamed US pharmaceutical partner was a reasonable start. Treagus also stated the NEU team is motivated to lead the development of Trofinitide and take it to market, and while he could not completely rule out a buyout, he didn't appear enthusiastic about such a scenario.

It would appear the partnership agreement will be the significant ann for 2018, completion of toxicity studies and other such activities were described merely as 'enablers' to commencing p3. To answer a previously posted question, toxicity studies and the commencement of manufacturing are only now taking place now, and not 2 years ago, because of funding from Lanstead and our new mystery partner. It was stated that Lanstead is a shareholder only and has had no influence on the development of the business.

Also of interest will be the election of a new member to the NEU board. One can only assume this will occur after the partnership ann.

I think silentype covered most of it. Agree it was a very positive AGM. A little while before full value realised but been invested for four years now and happy to stay the course.