Advanced Therapy Medicinal Product

And so interestingly, the CF Foundation in the US and the CF Trust here in the UK are focusing on that remaining 10%.

And actually the therapeutic strategies designed against that 10% relate to gene editing and relate to kind of that ATMP manufacturing rather than the small molecules.

So it's been transformed, I think, from a drug perspective, but I wouldn't say that those

patients are yet cured.

It spans vaccine applications.

It spans the gene editing that we already spoke about.

And essentially the incumbent source of DNA in that space that we call ATMP, advanced therapy manufacturing, is something called plasma DNA.

Plasma DNA, as I refer to as the incumbent technology, it's been around for decades.

Right.

But anything cell-derived, like MSC exosomes, automatically triggers classification as an advanced therapy medicinal product, an ATMP.

And regulators are notoriously cautious with those.

Very cautious.