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The % at which the cap is enforced is very relevant as it gives you a clue as to much they expect to make.
Extremely important, particularly in a hypothetical scenario where the people you rely on to look after your interests have interests of their own the company they want to sell the IP too. That could be a conflict of interest.
I, for one, hope the company is bought out entirely by an independent before that ever happens.
I never said that either. I just said that he initiated proceedings (it was 'through him', remember?) that led to the deal. Is that not true?
I have no idea what involvement he had, if any, during the course of negotiations. Nor what information he was privy too, from either side. Although I do seem to recall a response to a question put to the Q&A at the time that indicated that close contact was maintained with key/major shareholders.
I have no idea if there was any kind of mediation or not.
The point I'm making is that, If he was involved in the sale of the NXP001 IP to Oxilio then there is a possible conflict of interest on the grounds that he has financial interests in both companies.
But he isn't selling the IP, so there is no conflict of interest.
It's just hypothetical.
I didn't say he sold it to them Soup. I just said he was involved in setting the deal up. I got that from Oxilio the Oxilio website:
"Through him, Oxilio commenced discussions for the licensing of Nuformix’s NXP-001 cocrystal aprepitant formulation for the treatment of cancer. "
That's not incorrect, is it? And he does have a financial in them too because he does hold Oxilio shares.
Anyway, it was a hypothetical question because he isn't trying to facilitate the sale of the NXP001 IP to Oxilio, is he?
"I'd be more than happy if Oxilio buy nxp001, that would certainly buy nfx time to work on 002 and maybe 004"
So it's OK by you if a director is involved in selling our NXP001 IP to a private company that he now owns shares in after initiating proceedings that led to a deal that tied NFX shareholders to what many here could argue were not favourable terms that had very limited royalties, undefined milestones, prevented us from doing anything further with it ourselves, had no expiry date for non-progress and for which we haven't seen a penny since?
In mid 2019 NXP001 was the rising star. By the end of 2019 we'd actually invoiced a Chinese company for £2m for their interest in it. Never saw a penny of it but we still apparently invoiced for it.
It was the rumours of an ultimately non-existent NXP002 deal that took the limelight off it and then it was forgotten altogether in the chaos that ensued.
I think I'd rather it stayed in public Nuformix hands, until we at least know for sure that it's not the most valuable piece of IP that we actually own.
I don't think they need to buy NXP001.
They have exclusive rights already and have not exactly rushed to do anything with it. They would only need to consider taking ownership if Nuformix was either on the verge of administration or they were concerned about a takeout by a 3rd party who might not be so patient.
My biggest worry is that they have their eyes on other prizes
We'll have to agree to disagree on that. I find it difficult to swallow that he wasn't aware of what was happening at any step.
There are too many grey areas and coincidences involved for my liking. My trust was shattered by the events that followed his shock departure.
The only reason I'm here is because I've lost so much it isn't worth doing anything but see how this plays out.
Maybe, just maybe, after all the cards have been laid on the table, a white knight might come out from the shadows to surprise everyone and save us from getting stiffed for the final time.
This is the article from Oxilio's website regarding the sale of IP.
I don't think he was just the bystander to Brindley & Riddles 'deal' that you believe him to be. The discussions commenced 'through him' and he has been 'instrumental'. Anyhow, I just hope we don't get a repeat of a deal like that.
"Oxford, 30th March 2022 – Oxilio, the pioneering oncology company, repurposing existing drugs to address unmet needs in cancer therapy, today announces that it has acquired LSHS Consulting Limited in a share transaction. LSHS is a specialist life science consultancy firm established by Dr Dan Gooding, comprising intellectual property assets relevant to Oxilio’s OXL001 programme. Dr Gooding was CEO of Nuformix plc until June 2020 and has significant experience in the pre-clinical and clinical development of formulations relevant to OXL001.
Through him, Oxilio commenced discussions for the licensing of Nuformix’s NXP-001 cocrystal aprepitant formulation for the treatment of cancer. Dr Gooding has been instrumental in helping Oxilio make rapid scientific and commercial progress with both our co-crystal and lipid-based formulation routes, in addition to the exploration of further formulation technologies which remain under evaluation.
Dr Gooding also introduced Oxilio to TRx Biosciences and facilitated the negotiation of our exclusive licence to use TRX’s lipid platform technology with our aprepitant formulation, again for the treatment of cancer. Since that time, Dr Gooding has become a Director of TRx Biosciences. As a result of the transaction, Oxilio secures continuing access to Dr Gooding’s expertise and know-how in both our lipid and co-crystal product development routes. Dr Gooding has undertaken much of our formulation development work with the TRx scientists and provided the additional capability and expertise Oxilio requires to transfer this technology to Quotient Sciences for clinical trials. We are looking forward to continuing close co-operation with Dr Gooding across a range of scientific developments at Oxilio."
It depends on the deal Soup.
I believe the shareholders were betrayed by the terms of the Oxilio deal. 2m cap on royalties was outrageous. Salt was then rubbed further into the wound by the fact that Gooding bagged himself a bundle of Oxilio shares, so won't lose out himself.
Any partnership deal would have to involve a substantial cash injection upfront plus decent milestones and an uncapped percentage on royalties to be worthwhile.
TBH, I would prefer a straight sale for a decent amount