"I thought it was fairly clear by reading between the lines that IMEC either don't believe it to be sale ready in its current form, or don't believe it to be strategically sensible to try sell in its current form (get more $$$ for a bit more development)."
Could it be as simply as - we have a big pile of cash ($10m), why not develop the tech a little further for relatively low risk but the potential to achieve a significantly better upside (sale price)?
Worded differently, I'm sure our team knows the tech pretty well and understands how little we still have to do to blow everyone out of the park - eliminate any risk factors applied to a potential buy-out price.
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