Vote NO Abstain NO - My Open Letter to Shareholders, page-102

My opinion @ralom and I put my money where my mouth is, hence have bought more on-market during the past couple of weeks.

If you look at the critical posts on here, they are all management related. You can either agree with them or not.

There is however one thing that we all agree on - the tech is one-of-a-kind (currently). And given the latest feedback from Japan - so does FujiFilm, a US$18.2 billion conglomerate.

Quick reminder from the FujiFilm website:
"Cellular Dynamics International has also joined the Fujifilm Group and is contributing its extensive knowledge of iPSCs, which are the key to regenerative medicine. The decision to bring these highly innovative companies into the Group further emphasizes Fujfilm’s dedication to achieving leadership in the field of regenerative medicine.
[...]
Aiming to be recognized worldwide as a leader in regenerative medicine, Fujifilm will continue to move forward with this extremely important challenge."
http://www.fujifilm.com/innovation/stories/regenerative-medicine/

FujiFilm already combined many companies under their umbrella that will help advance our tech:
CDI - iPS source material,
J-TEC - manufacturing and approval process know-how (according to Japanese resources likely to take over Cymerus MSC production for future trials)
and not to mention their tie-ups with other big boys such as Takeda (WAKO Pure Chemical, heart research collaboration etc.).

FujiFilm to take up their licence is only a matter of time in my opinion. US$60 mio in milestones and double digit royalties on estimated sales of up to US$300 p/a as you know will see us having a positive cash flow. It is in FujiFilm's interest to bring this product to the market as quickly as possible, and in Japan, you can do so after a successful P2 trial. Based on current timelines, the first royalties could hit the account as early as 2020.

Sadly all other countries prefer to stick to what they know, which is (at this stage) gen 1 MSC material. Why? Because they are to far advanced in my opinion to just abandon their current trials and start with P2 again, using MSCs that they don't know. There's a saying in German: "A farmer only eats the things he knows best."

It doesn't seem to be a problem to manufacture enough MSCs to meet current trial quantities. And if it does... well... let's just limit it to children...

I could go on and on here, but there's nothing new to see/say. Except a decline in our SP that no one is happy with. I can't see any other reason as fear based on recent action taken by management plus a few recent well placed "end-of-day" posts on here.

I look at the FujiFilm situation, cash in our account, (pre-) clinical results and compare them where possible with other results and I'm happy to pick up a few more shares on the way down until the TO bid comes through, again, all in my opinion.