Investors are being sought to fund a New Zealand-developed medicine to treat the advanced stages of Multiple Sclerosis.
Innate Immunotherapeutics wants $10 million to carry out the second trial of MIS416, and to keep the company running.
Chief executive Simon Wilkinson says if the trial is a success, the big pharmaceutical companies will take an interest.
"Because they're the ones that have got the deep pockets to complete the final study required to get regulatory approval. So this trial is absolutely pivotal for us."
He says the drug could help treat a nasty form of MS.
"In this secondary progressive form of MS, as we noted earlier, there are no approved treatments and so there's a real medical need here."
Mr Wilkinson says it translates into a commercial opportunity for investors.