Ann: MSB Clinical Program Update For MPC-150-IM In Heart Failure, page-41

"If that company, which is involved in the decidedly unsexy world of distribution of plumbing supplies, came out and announced that it was still selling taps, toilets and pipes, I would be wondering what illicit substances had made their way into the management’s drinking water."

Well that explains a significant amount about your approach to biopharma, developing new products that require initial research and then testing over 10-12 plus years. The equivalent to plumbing supplies in this instance would either a pharmaceuticals distributor or a pharmacy chain, depends if the distribution business is wholesale or retail like Reece.

What would happen if they started marketing product that was not approved, tested etc for connecting to potable town supplies where would they be. Or goodness, developed a revolutionary product themselves?

In this instance Mesoblast is the owner of the IP and the licensor of the only two products developed using that technology approved so far in any of the countries on earth.

On top of that they are now moving as fast as the regulatory system in the USA will allow them to move toward releasing a number of additional products.

So how does a person comfortable with a business that probably does not develop product cope with one in industry that usually takes over a decade to get to market actually cope with Mesoblast? Other than continually applying that other mindset? Perhaps you could consider annual visits? Only 14 needed since inception, or just 6 since you came across Mesoblast you would not miss out based on your previously published requirements for investment.