Very impressed with this move. I wasn't so impressed with the loan on the R&D tax rebate last year. Having explored this for my own company, I know how high the fees are on this type of short term loan, but at the time I thought the AGC milestones payments mustn't be far away. Obviously this did not happen and the market was mislead on the timeframe of the commercial partnership in Japan. The previous CEO is out and the new one leads the other Directors on this internal round of funding. Very strong signal to current shareholders but also the potential partners. It says a lot about the confidence of Leo Lee in the trials results and the possibility of finalising a commercial deal within 12 months.
RGS Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
