V A L I D A T I O N ! !For the first time in its history, Bioasis has had another company come forward and pay for the right to use our xB3 platform for the advancement of some of their drug development programs.
This licensing deal represents the first validating public opinion, by a player in the pharmaceutical industry, about Bioasis and the potential that the xB3 platform has for the treatment of neural disorders. Not only does the licensee pay Bioasis upfront and milestone fees, but Prothena must also allocate internal financial and other resources to advance their intended targets with xB3. This is not a small decision by Prothena.
This deal comes even though Bioasis is still in the midst of various studies to establish the pharmacokinetic, pharmacodynamic and target engagement knowledge base needed for the advancement of its programs to human clinical trials. Nevertheless, it's clear that Bioasis was able to satisfy Prothena with respect to xB3's known abilities and attributes.
For me, personally, this is a moment to draw a deep breath with the knowledge that pharmaceutical professionals, at last, are looking at xB3 the way we shareholders have looked at it for so long.
Make no mistake. This is validation.
jdstox