The recent Capital Raising and the recent Share Placement were both specifically for Advangen,which is profitable, not for the Midkine two branches of Cellmid, which at the moment are not profitable.
It can be seen that the new, and even also the old, Cellmid Boards, do not have a Midkine, or even a medical doctor, representation to demonstrate an interest in Midkine consultation at Board level. The Midkine Symposiums( sic) appear to have been simply expensive talkfests which to date appear to have been of no benefit to Cellmid which is still seeking Midkine stage trial partners.
Yes, naturally, we will have to wait and see regarding a demerger or hiving off in some way, but the dogs are barking.
IMO etc.
Ann: Appendix 4D, Half Year Accounts and Strategy Update, page-28
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