Ann: Correction to ASX announcement, page-65

As I have indicated before this is a disgraceful action by the University of Queensland, through its commercial arm, UniQuest, that has implications for the rest of the Australian university sector.

This development was originally funded by public funds. That is, research funded within the University of Queensland.

The university has not had sufficient research funds available and, not able to get a partner such as Pfizer on board at the time, have sought funding through the sharemarket to advance the clinical trials. That is, funding from us for the rest of their research.

Now that is achieved they are dumping us and going back to Pfizer. We have served their purpose.

Pfizer now gets a massive future asset, extremely cheaply. The University of Queensland gets its continuous and massively expanded royalty payments.

The only loser is us.

All the universities in Australia have commercial arms such as UniQuest. If the capital markets see universities acting in this manner it will represent a threat to the commercial realisation of other Australian research through the universities.

This action by the University of Queensland, through its commercial arm, has wider national implications than just ResApp.

poorinvestor