Ann: Immutep Corporate Presentation, page-22

Yes thanks Theoc. it is all a very interesting case study. I can’t quite figure it out. Immutep does have a lot of partnerships and collaborations with big pharma whereas IMU is all in-house. IMM has a dual listing but Imugene has collaborations and trials with highly reputable institutes in the US. Valuations don’t necessarily reflect logic as we all know too well!

I sense a more energetic and professional marketing effort coming from Immutep as they move into later stage development. There’s a lot going on. MV has had a few hiccups re early AIPAC messaging and panicked capital raises at give away prices. But overall I think he has done a great job advancing the company and keeping a lot of balls in the air. He appears to be a lot more confident and they can’t be faulted on trying every possible angle to get Efti through to registration and expanding on the industry leading Lag3 science.

If Lag3 continues to emerge as an important new checkpoint and our trial and IP trajectory continues on its current path there will be some sort of dramatic conclusion to all this within two years, imo. I intend to keep growing my holding and finding out what that is!