Percy has has 3 years in charge, after taking over from Mike Harvey.
When he took over in 2002, RGT were short of cash, and no hope of sales, as the Polish market joined the EU. Thus the trials were not good enough for western standards.
In the following 3 years, RGT has advanced the devlopment of the Nutra side, and is turning around the pharma side. Plus they have GCPUL and zolpidem.
PL's financiing skills has kept RGT alive, during a difficult time for Biotechs in general.
We are all disapointed by no licensing deal, but it could be a lot worse for RGT- ie: bust!
RGT have raised 1.6 million in Sep 05, plus the Headstart facilitiy have underwritten a further £2million, as back up.
RGT can survive well into 2007 with current funding , by which time we should have sales in the Nutra side plus progress with the Pharma versions of cln and Zolpidem.
Unless there is someone that knows RGT better than PL, I think we would be shooting ourselves in the foot by getting rid of him.
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