Yehiel Tal: No. The two-year runway, which is a very important piece of information, the two-year runway is only counting on the $29 million that we already have in our banks. Yes, we are not including the potential additional milestone achievement or exercise of an option product or a new agreement.
Ben Haynor: Okay, that’s helpful. I just wanted to make sure I was clear there. And then on the Gut-on-a-Chip, the next development activities, what sort of goes into that? How soon do you think you could sign up a collaborator or partner on that? Just any color on kind of what investors should expect to hear next?
Yehiel Tal: I believe that by the time that we can show a model of a healthy gut tissue, which is going to be the next major milestone, and shows that this model is validated, and the plan that we have to take it to the next level of inducing the ulcerative colitis model, I think that at the time that we have a healthy tissue model and the plan, we can present to a potential partner, this would be the time to seek for the partner.
Ben Haynor: Okay. So then it’s dependent on getting the healthy tissue model where you want it and then whatever negotiation time that might be required with partners.
Yehiel Tal: Right. Exactly. And we are progressing in the healthy tissue model. We managed to grow a pectin layer on the model, which is the basic of the model, and also to form a blood vessel. So I think we are progressing very nicely according to the plan. And by the time we will have a validated healthy tissue model, then it will be the time to talk to a partner. By the way, this technology that we are developing can later on be expanded to different tissue models because gut tissue model is quite complex. So all the building blocks that we are establishing for this model can later on be used to develop with other partners different models like skin, like lung, whatever.
Ben Haynor: Okay. That makes sense. Everything seems pretty straightforward. That’s all I had. Thoughts go out to you and everyone in Israel. Thanks for taking the questions, guys.
Operator: We’ve reached the end of the question and answer session. I’d now like to turn the call back over to Eran Rotem for closing comments.
Eran Rotem: Okay, so thank you, everyone. Our vision is to be the leaders in regenerative medicine, helping people live longer and better through our innovative collagen technology. Consequently, our goal is to create better alternatives and options for the future, such as novel regenerative products for medical aesthetics applications and unlimited supply of spare parts for the human body, including life-saving organs, medical treatment that is tailored for the individual characteristics for each patient, and drugs developed without the need for animal testing. In closing, I want to reiterate our upcoming goals for the remainder of 2023 and through the first half of 2024. We plan to continue to advance development of paradigm-shifting regenerative dermal and soft tissue filler program with AbbVie, initiate the study in large animals with commercial-sized breast implant to generate additional safety and efficacy data in support of commercialization of this program, advance our Gut-on-a-Chip development program to deliver a functional model that mimics gut tissue, including permeability feature, and continue to form collaborations with industry leaders related to the use of our rhCollagen.
Thank you everyone for your time this morning and for joining us for today’s conference call. We leave you with this closing slide featuring our very important and valued CollPlant team members. Operator? Operator, you can now close the call.
Operator: Thank you. This concludes today’s conference. You may disconnect your lines at this time. And we thank you for your participation.
