Is this it?, page-103

Thanks for making that clear Pharma.

CDY is retaining the intellectual property in order to monetise them at some later date (hopefully before the effectiveness of the patents runs out), whilst Lyramid is simply an R&D company (thereby relieving CDY of the R&D expenses).

So, for its ongoing capital, will CDY be providing that - or will Lyramid do its own CR's until it starts generating its own revenue?

I wonder how they will value Lyramid once it has been cut loose? It will either be a wondrous opportunity for initial investors ... or more of the same for existing shareholders.