Research: Midkine Controls Arteriogenesis by Regulating VEGFA Bioavailability and NOS Expression, page-4

My honest answer to this is that I believe it's still too early. No company wants to invest money into something that is still mostly a research subject. The science seems to get more and more robust though, and once enough confidence in a compound is there, it'll go clinical. Cellmid has an advantage here due to their intellectual property.

Another reason I can see is that big players are waiting for something more substantial. While they will have to pay a bit more that'll limit their risk.

Or maybe they're waiting to see if Cellmid can find enough momentum through évolis. Then it's all about timing.

Maria said in the AGM that the big fish are following closely what CDY is doing. I assume that loose talks here and there can then turn into substantial talks very quickly.