Ann: AGM Presentation by CEO, page-36

Thanks for that post Redant

As the company supposedly reads this site, I thought I would re post his reminder for them:

Plasmid

217 posts.
Date:
11/09/16
Time:
18:12:39
Post #:
19080432
Taurean7 said: ↑
Public companies can receive venture capital, they just have to issue shares in a cap raise. Public companies do receive government support through the R&D tax concession and certain other grants. Private investment can also participate in the same way. The advantage in setting up the subs is that more directed funding can be placed but it is still under an overall public banner and there are no dedicated management driving these divisions which is the biggest issue.
To clarify, the BTF funds go to successful applicant fund managers, not directly to companies conducting translational research. In order for CDY to access this pool of money, they have to convince a fund manager that their translational projects are worthy of investment, which they have not yet been successful in doing. Fund managers don't usually invite companies to put forward grant submissions, they will find the best projects and invest, so I don't see how the post-doc hiring is dot-connected to this fund. That was more likely a reaction to DJ's departure and needing to access government grants to keep the pre-clinical programme going. Without dedicated management and clear executable development plans, sophisticated funds are unlikely to take stump up, IMO.
There will be more $ accessible from this fund which must be invested in local companies. Great thing for Australian biotech but CDY must step up their act to compete if they are serious about the MK business, IMO.