Way With Words Offline Assessment Audio Mixed Accents

Speaker Key:

SP Speaker

SP1 And the other thing is some of our investors have an issue with PACE, so
investment pace is becom...

SP2 They have an issue with what?

SP1 Investment pace. Now, what that is, is the number of...

SP2 Yeah.

SP1 The number, the timeline which you are allowed to do your deals. Because
depending on who the investors are, some of them want you to spend the money
very quickly, and others want you to be prudent. So, we've done two deals, so
our next... we'll probably have one more deal to do this year at the most.

And the first two deals, one is American, it's a company called Chrono, and we're
co-invested with 5am Ventures, and Canaan, and some other parties. And it's
really an advanced nicotine delivery, back to your eaglet days, it's very much
speciality pharma, and...

SP2 (laughter) Okay.

SP1 And it's stuff from our [?] days we understand that whole sort of Chrono biology
well, and it's almost into the quasi-consumer, but it's still on the prescription-
based side, and...

SP2 Right.

SP1 And getting close to that. And in our portfolio assembly we were told to do
something that was in the IT, health-IT sort of space. So, the second deal we've
done is one which is an Irish company. And it went IPO, it was led by Sofinnova
Ventures, and I think you'd been talking to them about Idenium when we spoke
previously.

SP2 Yes.

SP1 So, we've done two deals recently with Sofinnova Ventures, and that's Innocoll
and it's, again, specialty-pharma, collagen-based pain, instead of slow-release
technology for use in surgery. Riding the wave of the need to replace narcotics
analgesics.

SP2 Okay.

SP1 So, there are sort of two deals done, and if we’re going to do another deal
this year, it is time to do an early stage one because we'd have the
timeline to do some investing. Okay?

SP2 Okay.

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 SP1 So, All is back on the table. You know that we have two or three different
deals again back in the mix, so, my job here is to try and get an update on
Idenium to see if we're still... if it's still one of the ones that we would
consider for this year, and if so...

SP2 Right.

SP1 on what basis and where are you? So...

SP2 Right.

SP1 So, I had a look at your package and you’ve made quite a few changes to
the company presentation. I’d like to hear sort of where you’ve been in
the last while and where the interest has been?

SP2 I think, completely overall, first we have, since you and I talked last in maybe
May,

SP1 Yes.

SP2 We have complete that phase, in a sense, because now we have a full team...

This study source was downloaded by 100000854053509 from CourseHero.com on 10-06-2022 03:23:24 GMT -05:00

https://www.coursehero.com/file/103766157/Way-With-Words-Offline-Assessment-Audio-Mixed-Accentsdocx/
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