If you read the prospectus for the last capital raising (2/8/16) we have allocated $3m for "further investment and development in immunotherapy programmes in conjunction with Professor Ian Frazer". I am guessing that this will be achieved by the issue of additional shares by Admedus Vaccines Pty Ltd and whilst we will dilute the holdings of other shareholders we will still be a fair way off 100% ownership. Uniquest Pty Ltd is the other major shareholder with just over 27%.
It's gonna be tight, page-13
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