Hi LeftYahoo, I did call out the move of using children’s GVHD...

Hi LeftYahoo, I did call out the move of using children’s GVHD as a lead indication, in retrospect, as a miscalculation, and I am aware of the business that is riding on their GVHD drug for Incyte. What I have tried to make more explicit, however, with the share price already reflecting the latest disappointment and is trading “cum” another capital raising, is the more important question of whereto from here.

I agree with you, with the benefit of hindsight (including the more extensive light shed on the whole topic of inflammation and its mechanism* as a result of the research for both Rem-L and Rex) that childhood aGVHD may not now look like the best lead indication. (I, for one, am very interested in the upcoming results, including quick complete remission in at least a fair few cases, for the randomised Ph 1/2 Crohn’s and ulcerative colitis trials at Cleveland Hospital as my 25-year old had acute UC 2 years ago, got treatment in Australia, and is still on meds. Some of you should know that the presentation of symptoms between UC, or maybe all of IBD, is very similar to GI GVHD.)

The time of holders is, I believe, best spent on ensuring the company will make the right decision(s) going forward. The thinking, debate, behavioural management and decision making at the company are all to a large degree path-dependent and board and management should already be fully cognisant. At this crucial juncture, the value of the past is in informing the future. We know there is still great potential in CLBP and CHF but whether it can be unlocked will depend on how we turn around the current situation by attaching a correct cost, benefit and probability on the options in front of the company, without being shackled by past missteps.

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