A timeline going forward would be greatly appreciated, page-97

We've known about Resilia for a couple of years now. As far as I can see, its still at the SAVR stage and they dont have long term clinical data. WP did say he understood the science behind Resilia and wasnt losing sleep over it. We'll get a head to head study at some point. Anyhow, we have to expect competitors will compete on innovation. Its a fact of life. Theirs is incremental to value creation whereas our (market cap of $200 odd million) innovation is leveraged to the max. I want us to get to market on our own, I dont want us to be acquired so if Resilia is keeping Edwards at bay, good I say! Having said, I wouldnt discount Edwards still might acquire to kill our tech or make sure nobody else gets it.

I know WP says we have unassailable moats, but I still dont get how other competitors (with R&D budgets to make our eyes water) are unable to develop a one piece valve. Thats my $64,000 question - how come its so hard to replicate (is it because it will infringe on our IP?)?

Lets just get our clinical trials done and worry about competition then!