This would also increase the probabilities of success for...

This would also increase the probabilities of success for securing new business in later years, resulting in a higher valuation. It should be stressed that the risk-adjustment applied to cash flows from each business unit relates to commercial/competitive risk (ie ability to secure new customers in a competitive field), as opposed to technical risk associated with gaining regulatory approvals, which we view as relatively low.
Van Leeuwenhoeck Research 20^th Nov 2015 Page 30

• Large bioscience customers do not change suppliers quickly
• Large peers lower prices on consumables for existing tests
• Other reagents developed which compete with Mix&Go
Pac Partners 30^th Dec 2014 Page 2

New strategy in place aligning with collaborations e.g.Atomo and Ellume