Ann: Updated Strategy and Investor Presentation, page-80

It is not a case of either or as all cardiac markers will be measured. VO2Peak gives you access to a biomarker that is significantly changed in a high percentage of patients and is directly relevant to the patient's quality of life. All the other biomarkers measure the damage to the heart, but the clinical relevance is questionable - what does it mean to a patient if their LVEF drops by 2%? What matters to them is if they can get up their stairs to go to bed or if they can still move the wheelbarrow around their garden. VO2Peak measures this.

The significance of the VO2Peak is massive for Race as it provides a possible pathway to both early proof-of-concept and accelerated approval out of Phase 2 data. This discovery has probably added more value to Race than anything since RC220.

I should add that VO2Peak was brought to my attention by a Race shareholder - unfortunately I have lost access to my emails from when I was CSO so I can't tell you who this was, but I am extremely grateful to them. We all owe you a truckload of champagne.