All depends on what your aims are with RAC. We have been very clear that our aim as management is a sale or partnership (deal) with large pharma. This has not changed, just the potential scale of any deal has now become much larger with the the new Three Pillar strategy.
One thing that might not be obvious in the change from 5-Paths to Three Pillars is it has not increased our internal timeline to a deal, it has actually reduced it. This was one of the reasons for the change.
Ann: Change in substantial holding, page-43
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