Considering......
Considering that the 2 Gin SAD & MAD Dose Expansion Studies in support of the TT223 (formerly called INT) Stand Alone Phasell's just Dosed the last Patient mid February and Data was to be analysed by the end of February with results expected by myself (and a few others here that are interested in that sort of stuff) last week already. The Data MUST HAVE BEEN EXTRAORDINARY for LILLY to Partner before any interim results or final Data from the TT223 SA Phasell.........
I'll give Dr. Cruz a Get Out of Jail Card seeing as though our expectations from guidance given was that we were not to have this partnered until Q1 C2009 at the latest. Did we give up some cash for earlier partnering?? You Betcha.....BUT Transitions Business Model allows for this sort of Risk/Reward Trade Off as we've discussed here many many times before.
Very few clues as to exactly how this deal will work.........One thing we know is that TT223 SA will proceed as planned by Dr. Cruz & Co. even before they got rid of Novo. I think the decision to change strategies by focusing on TYPE2 Diabetes was a good one. So did LILLY apparently. For the TT223 SA Trial LILLY & Transition will collaborate and run it. Makes me kind of think that there very well may be different sub-agreements for Royalties and Milestones and such for particular segments of the platform. If I were a betting man I'd bet that TT223 Stand Alone (INT) could very well garner the highest milestones and royalties and very well could have an Opt-In Clause attached such that Transition could choose to opt-in to share in the Development Costs and Profits after certain Positive Outcomes are shown in Phasell. Thats just a wild guess on my part but......what the heck, lets speculate for a change!! LOL!!
This deal is also almost 300% bigger than the Novo deal was and for good reason. The technology is just so much more advanced with Proof of Concept shown in the TT223+EGF Phasella. A 28 day treatment had a 6 month sustained effect. Mirrored the pre-clinicals. HUGE. Absolutely.
Now it's time for the other Drug Platforms to start emerging....but I for one am going to prefer to let this development sink in ......for now.