my alternative proposal

Just a thought, How bout a merger between AVX and CIR ??

It goes something like this...

CIR has immediate rights issue to raise 25M (dilutive I know) and announces a scrip based merger with AVX valuing the target at 10c a share.

AVX brings ATC and other early stage compounds. May have ATC to market in 2011.

CIR has around 46M in cash + 25M rights issue + already owns 2% of AVX + other listed investments + some promising early stage products.

Benefits to AVX - clearly the cash, the other company is also contributing some very promising compounds.

Benefits to CIR - possiblity of near term $$ via ATC to fund other projects. Funding still available for research into VEGF-C, VEGF-D inhibitors

Benefits to both - Strong $$ position. Both parties making scientific contribution. Removes markets doubts over funding.

Thoughts??




Smallprint... I also tack on my 1% facilitation fee :)