RE: Sitting Duck10 Apr 2024 14:07
Why would LG Chem,Daewoong and Eli Lilly
All pay $180m LG Chem,
Daewoong give 25% of Affxell,
Eli Lilly pay licence fee on Point Bio deal.
When any of them only has to offer a cheeky T/O price now to test PI’s patience.
II’s still the minority in this company.
At £180m MCap, Smith & Gardiner and the board have put Avacta on a very dangerous position.
LG Chem
This multi-target therapeutics development agreement provides for upfront and near-term milestone payments, plus longer-term clinical development milestones totalling $180million.
Daewoong
The second milestone will result in an increase in Avacta's shareholding in AffyXell, which currently stands at 19%. The exact shareholding will be determined, as with the first milestone payment which was achieved in April 2022, following a formal valuation of AffyXell.