Ann: Phosphagenics Update on TPM/Propofol Development Program, page-2

Pretty positive announcements. For me it shows that Terumo are not just "having a look" or "doing comparisons." Very clever in ensuring IP is protected and the joint patent will ensure we have a fairly strong "big brother" in case of any future legalities. Terumo seem very serious about progressing the relationship further which also goes well for the patch and other candidates. It seems a far bigger market is the target other than just Japan (big enough in itself) and Australia. Hopefully one eye on the USA.
The animal studies are starting straight away. This means we will have a series of hopefully positive announcements to boost share price. And finally it is pretty clear that all this crap about TPM not being validated etc is put to rest, well, how can you argue with Terumo?