PacificEdge update, page-89

It must be a bit of a relief to Cellmid management to hear that some traction is obviously happening with Pacific Edge and support is building especially with NZ Health boards taking up the whole suite of tests for any single patient who contracts bladder cancer, has an operation and is then monitored for several years afterwards at regular intervals.
Pacific Edge originally suggested that 100 million p.a. was on the cards by 2019 which at 3% royalties would have been making a very handy 3mill for Cellmid and have them in profit at this point.
The train has been delayed due to factors in the US beyond Pacific Edge's or Cellmid's control.
Therefore I can see the need for Cellmid to raise some capital to expand while waiting four or five years for the acceptance of CxBladder into clinical pathways.
An interesting point came to light yesterday in that the 300 Veterans Administration clinics in the US are run pretty much the same way as NZ Health boards.