I think nobody made an approach for the IIH franchise, because...

I think nobody made an approach for the IIH franchise, because it would have been reasonable to assume, as we all did, that that the board would not sell until the readout of the Phase III.

However, I don't think it will go to big Pharma. Despite being removed from the board Prof Sinclair is still the primary investigator for the Evolve trial and this represents a decade of her work, she will play the key role in determining where this asset goes. I am certain nobody will buy the IIH assets unless she and the team at the Uni of Birmingham are onboard. Hence my view that Peptron will step up as she would have been instrumental in selecting them. Might be a different case for TBI given it is at such an early stage.