Paul Rennie back in November 2022, at the AGM: next slide please...

Paul Rennie back in November 2022, at the AGM:

next slide please okay in terms of Business Developmentum I can let everyone know that we're working with two uh very experiencedBusiness Development Partners the first is Plexus Ventures we have signed anagreement with plexus which is a leading Global business development company and basically all of the people in theorganization are experienced top-tier pharmaceuticalExecutives uh some of the people I've worked with the very biggest of the biggest big Pharma companies in verysenior roles for many many years sometimes uh 20 or 30 years with companies like Lily and Pfizer so theyhave established contacts and knowledge of those companies and they areassisting us with Outreach to the senior people at Pharma companies and they dohave a very strong track record of deal success they have actually helped quitea number of companies find commercial Partners both big and small plexus is focusing on basically Globalpartnering activities outside of China so we have excluded China and you'll see that that'saddressed in the next point so they have uh commenced a a processwhere we are currently asking Pharma companies to do their diligence by aparticular point in time and then once we have that results back from those companies they ask us questions we havea a team of experts on their subjects ready and waiting to answer thosequestions and then a particular point we'll be asking all of those people once they finish their diligence to put anon-binding term sheet to Paradigm and we will then start discussions with each of those companiesbut all of the companies are aware that this process is going on and the idea is to try and develop some competitivetension so that companies understand that they're not the only company that we're talking to we're actually talkingto many companies at one time

to have a similar approach in ChinaAngel Pond is headed by people um Chinese Nationals who who work in theUnited States they have helped many American Pharma companies find Partners in the Chinese market and they arehelping us with introductions to the top 15 Pharma companies in China withspecific introductions to the Presidents or heads of commercialprojects and and that process is going very well we are lookingprimarily to do an agreement with the Chinese companyover the marketing and distribution for xylosolthe approach of the product for osteoarthritis um MPS is um not very prevalent in Chinathe main hot spots in terms of prevalence of the disease are the Middle East and North Africa and Brazil andalso turkey they're the major hot spots for where we see this sort of larger number of theseuh MPS patients so we don't have a focus in China on MPS our focus is onosteoarthritis and there has been quite a number of examples of Pharma companies uh doing uh deals there was um companybefore us that did our deal at the end of phase two um which uh produced a nice outcome forthat company but um as time went on they went into phase three and that productfailed so that that deal has now sort of Fallen away but it did have some uh interesting metrics for us to consideruh when transacting with Chinese companies