Ann: September 2021 Quarterly Activities Report and Appendix 4C, page-11

Yeah commercialisation is obviously a conundrum for any small biotech, but Veyonda has some additional unique challenges. You don't want to get into bed with big pharma too early or you will leave too much on the table. And I don't think NOX has had any problems raising cash to date.

IP has obviously been a concern, but I think that has effectively been solved now with all the recent patent news.

But most interestingly, the commercial potential of Veyonda has increased exponentially over the past 4 years, with compelling evidence of efficacy in radio, immuno, chemo, radioligand, and now inflammation being generated.

I suspect we'll start to see a very sharp turn to focus on commercialisation from mid next year, particularly as the data from DARRT, CEP and IONIC starts to roll in.