My notes from the webcast: - PD said they plan to monetize TRACE technology this year - PD said they will be announcing collaborations for TRACE via the TAP shortly - On track to commence patient enrollment for registration trial in Q2 2017 - Plan is to move ahead with the registration trial with a multinational - Exit opportunity may present itself within the next 18 months for lead program (EP IL-12 + anti-PD1) - I understood the above statement as they will retain TRACE tech, and opportunities to partner it out beyond anti-PD1 candidates in the event of a sale of the lead candidate; PD talks about keeping a piece of the pie