The announcement is not capable of being marked price sensitive as it gives no financial details around the sponsorship agreement. Either this is because they remain subject to negotiation and/or because they are considered trade sensitive by either party. Additionally the "first right of negotiation to license Penn intellectual property arising from the conduct of the sponsored research" is an agreement for a potential future negotiation of purchase of IP and therefor the ASX would not consider that information price sensitive.
Ann: Sponsored Research Agreement with University of Pennsylvania, page-4
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