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.
Valuation, page-22
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