Ann: Cynata & FUJIFILM Sign Strategic Partnership Agreement, page-33

I agree, bitter taste short term. However, look how much we spent to get Fuji aboard...

Now we receive between US$10-15 from 2022 onwards, leading up to US$30-45 mio in 2030, on a fully funded development of our lead product CYP-001 after our initial phase I GvHD.
Not a bad outcome for the least lucrative one, which was only done to show the safety and efficacy, no?
This trial will result in our whole tech to be validated and opens doors for all other (soon) available MSC therapies. That's a win win.

We are now fully cashed up to zero in on the next disease, this time a more lucrative one. Can't wait to find out what we are focussing on next.

There is enough cash:

US$3 million from Fuji now for the shares and a jump-the-queue ticket on CYP-001,

US$3 within 90 days of the primary result of our GvHD trial (according to clinicaltrials.gov expected after 28 days of the treatment of the first patient/s) - June/July 2017 to get the CYP-001 licence,

Milestone payments etc. exceeding an additional A$56 million, first lot likely due after our GvHD trial results, possibly as early as 28 days of the treatment of the first patient/s) - June/July 2017,

A$4 million from CR within the next fortnight (?),

possibly apceth before EOY,

Expected royalties for CYP-001 from 2022 onwards.

The CR stings a little, but it will create value for shareholders short, mid and long term!!