Ann: Appendix 4C - quarterly, page-42

@suzuki42

a partner is more likely to be maximum value if we have fully tested human trials, true.

BUT there is something called conditions precedent. An in-principle agreement or an agreement with multiple stages can arise at any stage, for instance after the first human trials show promising indications.

A company can decide to fund the continuation of the trials, and negotiate a better deal for the privilege. They take the potential risk on, in exchange for a great ongoing deal.

Two birds. One stone.

Therefore I don't expect that human trials must necessarily be complete before a deal is made.