It's my turn to do a little copy/pasting.
Here is Midatech stating its intentions in its
filing concerning this deal.
The Board believes that the Acquisition is a compelling strategic opportunity to advance the Company's repurposed strategy and is expected to deliver a number of key benefits to Midatech and its shareholders, including:
- transition from a drug delivery platform-based company to a therapeutics company;
You can read the passage starting
<< here >>.
Therapeutics! Right? Not "a drug delivery platform-based company..."
You see, the moment Midatech acquires Bioasis, it will own the xB3 platform and it will be "a drug delivery platform-based company." But then it will "transition from a drug delivery platform-based company to a therapeutics company;,
So it's not going to be "a drug delivery platform-based company..."??
Is that the cover-yer-you-know-what statement, the smoking gun evidence and forewarning that xB3, a drug delivery platform, will not be a part of Biodexa's future?
There is no other resonable interpretation than that.
This tells you, outright, that, going forward, Biodexa will not have ownership of the xB3 platform and neither will you.
Gone.
No new big xB3 deals for Biodexa.
No xB3-001. (No surprise, xb3-001 is not metioned once anywhere in any deal announcement or document.)
It also means no new intellectual property at Biodexa without either hard basic R&D work or program acquisitions from outside. Biodexa will have to slug it out like every other two-bit biotech does.
They had to tell this, and there it is.
What they won't tell you because they can claim that they don't know, is who will help Biodexa achieve its goals by buying the xB3 platform and taking it off Biodexa's hands.
There it is, in all of its terrible glory.
Don't take my word for it. Take theirs.
jd