Ann: Section 708A Cleansing Notice , page-11

Hi Peter,
I agree with you. Raising the money now puts them in a much stronger negotiating position with a possible Big Pharma partner after they show good results. Big Pharmaceutical companies typically try to Squeeze the blood out of the little biotechs whenever the biotech has a good prospect and no money. The money they raise now will give them the ability to take PBT2 all the way for the smaller HD indication thus giving them the ability to walk away from a "bad" deal. That will give Big Pharma the incentive to negotiate seriously and result in a good deal for both parties. I believe PRAN/PBT management has demonstrated the ability to be frugal and use the funds they have raised wisely. PRAN/PBT is lead by a seasoned businessman and I am confident he will do well for the shareholders.

Best regards,

Simon