Ann: Letter of Intent from Pendula for NBIO, page-18

I think at these current prices, its not nowhere near reflective of that tremendous opportunity youve mentioned Erebos. And we are anchoring to super low prices. This situation reminds me of Marketo many years back when the company was burning through cash and early in its and the industrys life cycle. Now that was snapped up by Vista Equity Partners and the rest is history. Have a look to see who is behind Pendula.