Ann: Update on Novartis Agreement, page-95

Col, sshhh you're thinking......ARDS is no more dead than the heart program was, when TEVA walked........it may shock many to know, Novartis is not the only silverback in the bio-pharma cage....perish the thought the Prof is already on the ph inviting another to dance!

After last week's data he won't want for suitors.......what people are AGAIN experiencing is the frustration of requiring more patience to see the returns they want! And that's tough for ALL of us....but, not a single program is dead!

Companies like Novartis, TEVA and others sign into and exit from exploratory deals all the time, for whatever reason, MSB has the goods, it just needs to arrange the deck-chairs right....OTAT is the starting point.

ARDS didn't exist to MSB just 20mths or so ago!!!