I am sure there are provisions built into the CLN instrument such that conversion cannot occur within two years, or upon an event such as a takeover or NASDAQ listing.
Personally I think you have to be careful, every PI with the cash and inclination will take their allocation and ask for a stack of extras. I don't think there will be much of an extra allocation this time around!
He also mentioned something about the AdvidiMab platform, suggesting this would follow a different business model. Does anyone have any ideas what he was referring to?
Up front single digit millions, looking at milestone in the hundred to two hundred mark. There will also be development and commercial milestones and then single digit royalties.