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I agree lunus, it appears to be a deliberate and intentional use of GlobalCo when related to CDX, but deliberate and intentional use of Eli Lilly in relation to Lupus.
2 separate development agreements Both started with the condition that Eli remain anonymous.
Exemption granted for Lupus development agreement. Even though its clear, I guess Vlad is just playing it safe to protect the contract.
I have always wondered if we are meant to know that it is Eli Lilly who are the Global Co.
As JHFH has shown the follow up RNS told us Eli Lilly are GlobalCo in new agreement. They then show how new RNS should read where Eli Lilly are named BUT this time they omit to say it’s the same GlobalCo as they mentioned in 26th June RNS. It’s almost as if they forgot they had previously told us they are one and the same. Hence today they still refer to them as GlobalCo.
I don’t know what some people were expecting today. Interim reports are only a summary of what’s happened so far. Anything significant would have been already told to us. It is all still on track and I remain 99% confident that within next 2 months we will announce CDX Antibody Licence Agreement with Eli Lilly ...... err I mean GlobalCo who we’ve been working with!!!
https://www.lse.co.uk/rns/HEMO/development-agmnt-autoimmune-disease-treatments-gcylab4lsg26spm.html
GlobalCo is the same organisation with which the Company is collaborating to develop its CDX antibody product candidate and with which it also has a research agreement for the development of the Company's humanized mice.
There are / were 2 development agreements, both initially stated that the identity of GlobalCo remained anonomus.
https://www.lse.co.uk/rns/HEMO/further-re-development-agreement-y42h8fdpl5ll13q.html
"On 26 June 2020 the Company announced a Development Agreement with a global pharmaceutical company ("GlobalCo"). GlobalCo has now consented to the use of its name in the announcement, an updated version of which is shown below."
This was a waiver for the Lupus agreement, they never stated they got a waiver to disclose the name from CDX. Its obvious when you read all the RNS's together but the fact remains, there is a contract between Eli Lilly and Hemogenyx that states they cannot name Eli in connection with CDX EVEN THOUGH its documented in black and white.
I've always said that there was another GlobalCo apart from Eli Lilly
Lunus, that is fine mate and it is perhaps me being a little too conservative, but in my head until a deal is agreed it is 50/50
GLA
Have we established that it is not necessarily Eli Lilly for this CDX. It cant have been announced as it still refres in todays RNS as GlobalCo
Mjng, no I think before we only assumed there was no extension and we're in commercial discussions, because we didn't hear anything after the start of September elapsed. But now we heard it from the horses mouth.
But definitely I'm assuming the deal will be done and that's not 100% guarantee, but looking very likely. There is only 2 months left for Lilly to agree the deal, and we're still planned to reach the inflection point this year. Imo there is 80%+ the deal goes through by December, maybe even 90%+ chance.
For me, based on CDX alone this is a strong hold. Obviously lots of other pluses to hear about too.
A lot of people enter talks for agreements, I have myself quite a few times. Sometimes you come away with a deal and sometimes you don't.
IMO it is obviously not clear cut otherwise it would have been done by now.
Both parties have to be happy otherwise a deal will not be struck so simply put it is a 50/50 chance.
Happy to hold long term here
Lilly must want to do a deal otherwise why would discussions be ongoing. If they didn't want to licence we would have had an RNS by now to that effect. Lilly deal is only a matter of time imo, what have HEMO got to gain by walking away from it?
Ps Chad we really do not know if the Lilly deal is going to be done, you are hoping it is going to be done, like me!
But Chad we knew that anyway, discussions have been on going for months now!!
Happy to wait but I genuinely feel it is a nothing RNS, people are getting magnifying glass out to see if they can spot domething different or looking for that inspiration, I have read it twice and whilst it is not a disappointing RNS it is revealing nothing new at all.
I disagree we good much more than nothing.
Confirmation that CDX is in commercial discussions along with reaffirmation that we're on track to reach the inflection point of Feldmans foresight.
Tells me keep holding and by year-end the Lilly deal will be done for sure.
It’s a nothing RNS to be honest.
What I mean by that is that it is telling you nothing that we don’t already no.
Non descriptive I would say which is fine for now.
GLA