RE: RE: RE: LOI is now a binding Partnership!The only money LFB is sure to spend is the 2.3M upfront payment + the fees for the phase II clinical trial, including the manufacturing of the drug. So their initial involvment is for, at best, around 10 M. Only after satisfactory phase II results they would be bound to commit more money. Also, of the possible 150 M LFB can spend, around 30 M is for the running of trials. This is included in the 150 M.
So, since clinical trial outcome is always uncertain, TLN's shareholder know it very well with the failed 4601 trial. It is easy to understand why LFB went for a partnership, instead of a takeover. Shigamab is a phase I candidate, aiming at entering phase II, with no efficacy results on human. You don't buy a company for that. Uncertainty level is still way too high.