Ann: Appendix 4E & Preliminary Final Report, page-86

Yes you're still confused my friend. From memory, so roughly:

Monepantel was developed by Novartis, who became Eli Lilly, who spun out Elanco. It was commercialised in a drench and Prof David Morris happened to read that label - thought it might have anti-cancer properties. I believe Sydney Uni negotiated the anti-cancer rights directly, which included a pre-emptive right for Novartis to licence back the drug (they wanted to maintain an interest in developments). That was the precursor to our ticking option agreement.

The Nihon Nohyaku collaboration is separate. Somewhere along the way it was announced that a few of these new small molecules seemed even more anti-cancerous that monepantel in in vitro tests, but of course they don't have the long safety history of monepantel. Elanco et al may just want them too and I suspect they will have value as a bargaining chip in any wider JV/Collaboration negotiations. The situation remains very interesting