Ann: Response to ASX Query, page-141

Also, in Asia it is unusual for biotechs to go public at the early stage — something commonly seen in Australia.
Investments usually need to be ‘derisked’ which means Asian investors are keen on stocks which have made it through to Phase 1 or Phase 2 trials, the hurdle most biotechs fail.
It is only once the risk profile of biotechs has been reduced by getting their new drugs through these initial trials that Asian investors will look at putting money on the table.