RE: Thinking aloud16 Jul 2020 14:12
Hi Dalester,
Normally the process would be some initial contact formally or otherwise and SCLP would arrange a Meeting to discuss the level of interest. Being such a small team I would expect CH and possibly LD or SA to be there and how you would proceed would depend on who made the approach and how it was made.
I would imagine they would already know or know of the people who approached them and a degree of knowledge about the level of interest.
Most major pharma have specific depts to handle this stuff and smaller outfits would normally be the CEO.
When I was involved in licensing products and technologies in and out at Merck I would normally have the initial discussion and evaluate whether it was worth pursuing,draw up a Heads of Agreement and then escalate to lawyers etc to draw up an NDA in due course.
Of course these approaches can come from a variety of sources so from scientist to scientist at a Conf or from an 121 at an investor event etc.
My point is they will know who is making these approaches and how serious the level of interest is likely to be.The idea of them allowing a time waster in is very low and the most SCLP would lose is an afternoon say in a lab visit and you would screen any rainbow chasers out at that stage.
You should not get around to signing an NDA and any significant science detail not in public domain until an advanced stage part of DD.
The IP is protected or should be and both parties should be engaged in the process and if not you have to question the ability of likes of CH in sussing them out.
The idea of charging for someone to look at the books is a bit like a farmer asking Tesco to pay a fee to come and see it’s herd and decide whether to buy the milk.
I know that car boots and jumble sales may charge an admission fee to view the assets but in the real commercial world this doesnot happen imv
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