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Valuation, page-22

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    Don't forget the other guys that have clocked up over a 1000 trials using MSCs. They all would have a very good reason to do some form of a supply deal using our cells, cells that have gained approval for pivotal clinical trials. These other guys have a huge problem, they either do a deal with us or they spend big on developing their own cells then they would more than likely poach on patents anyway. Its fairly obvious which way they would go.
 
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