Ann: Ceasing to be a substantial holder, page-8

Money '...in the hand is worth two in the bush' for BVF I suspect, and being a specialised 'healthcare' fund, they may see 'bigger returns' to be made elsewhere, like ASX:BD1, ovarian cancer 'bio-marker' tech, I think, from what I read quickly...

I'll be holding out until the 'gavel' drops on the Merck offer, trading patterns and volumes have been quite strange since the 'offer', and I still believe we'll see more 'movement' occur once the next round of results become 'publicly' available...

They may have been offered an 'off-market' incentive to facilitate another entity being 'more' involved, MS, MUFG or otherwise...

ML