They seem to have been very concious of not blowing out register...

They seem to have been very concious of not blowing out register and not diluting their own family holdings to date, and have done a very good job of managing this. Assuming they would want to continue this path it seems they will need to raise cash without giving away too much equity and hopefully no huge discounts.
I'm thinking the obvious solution is some sort of licensing deal. Unless of course a big pharma likes what they have and desperately want in, but hard to believe we are quite at that stage yet. Would a big pharma just give them cash without some sort of control on how it is used? Maybe one set of trial results away? Surely another round of cash is required either way within next 6 months so something happens soon.