PROJECT KIKU -- SUPPLIER CLOSEOUT MEMO
 ==========================================================
 Class: COMMERCIAL IN CONFIDENCE
 From: Corporate Development
 To: File

 A courteous closeout note has been sent to Dr. Okido thanking the
 team for their time, openness, and technical professionalism. The
 note states that the Partner will not proceed with an investment at
 this time due to portfolio prioritisation and timing.

 No adverse technical finding was shared. No reference was made to
 the internal comparator, programme use case, or Finance's cost of
 goods conclusion.

 The supplier replied with additional stability data and an invitation
 to continue scientific exchange. No further response is planned
 beyond a holding acknowledgement.

 STATUS
 Project closed. Relationship warm. Monitor only.

 File history: [README.TXT],
 [BOARD-DECISION-NO-BID.TXT].