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Biotech / Medical : Cell Therapeutics (CTIC)

CTIC 9.090

0.0%

Jun 26 5:00 PM EST

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To: rkrw who wrote (838)	9/19/2006 8:56:39 AM
From: Icebrg	Read Replies (1) of 946

The Xyotax agreement is not entirely an option (if I got him right at the CC). There are development milestones agreed upon, but NVS does not have to share any of the development costs until they decide to take over the project. Then NVS will also have to reimburse half of the development costs CTIC has had. This means in effect that the development risk still will remain with CTIC, while NVS has purchased an "option" to participate if things turns out well. The risk for NVS is that CTIC will be reaching some or all of the development milestones, but still doesn't manage to get the product approved. I would still like to give Bianco some credit for being able to hook NVS on these deals. At least they have now got a nice-looking potential partner/licensee. Erik

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