Ann: Starpharma and Medicxi Partnership Petalion Therapeutics, page-79

So these venture capitalist spruikers are throwing around a 3-4 year timeframe until proof of concept. Pull the other one.

This early stage R&D for this new product for a new target is only just commencing, so if you believe the 3-4 year figure for proof of concept then I have a monorail to sell you.

It is widely accepted that Proof of Concept is achieved during or usually at the completion of a Phase 2 clinical trial.

It took Starpharma 10 years from starting a Phase 1 trial to completing a Phase 2 trial for DEP-Docetaxel and that was after years of pre-clinical research.

It took major pharma AstraZeneca 12 years (twelve) to go from a research agreement with Starpharma to terminating the AZD0466 program prior to the completion of Phase One.

Let that sink in.