Ann: Update on BLA for Graft Versus Host Disease, page-723

please use your eyes and ears and listen closely to the Corporate comm of Friday.

I urge everyone to do this with fresh ears and take the emotion out of it.

The path forward is to put everything on ice and go forward with the financial support of the academic institutions and their partners, to get aGVHD over the line.

After that it's partner on the other applications.

If we partner on aGVHD well and good but the others will be done after FDA approval and therefore we won't have lost out overall.

We will do what it takes to get aGVHD over the line and that includes more litigation with the FDA if needed.

Surely, surely you understand this?

MSB = a LONG WAY from bankruptcy and not too far off getting the first application over the line.

We partner with aGVHD maybe on less maximum terms, to optimise the others. It's a tradeoff.

AND A WIN/WIN!