Firstly we evaluate investment proposals according to our investment criteria.

Once we have determined that a proposal is attractive we undertake a parallel process of a series of meetings with management as well as a detailed evaluation of the business plan, scientific data, IP, financial projections, capital structure and market potential. As we progress through the analysis we will involve our advisors as well as relevant consultants to evaluate specific diligence issues.

The end point of this first stage of evaluation is a presentation to the full team at Fountain after which a decision will be made whether or not to present a term sheet to the company for investment.

The term sheet will allow for a period of exclusivity to undertake more detailed and rigorous confirmatory diligence, culminating in the final legal agreements and funding.