Hi Steve,
Congratulations on the recent successes of GZTC. Below I have copied a section from the latest press release, about which I have some questions.
>>The agreement with B. Braun Melsungen calls for Genzyme Transgenics to express the protein in the milk of transgenic goats, produce clinical grade material, and conduct preclinical and initial clinical studies in return for approximately $13 million in funding upon successful achievement of program milestones. The parties will share responsibilities for pivotal trials. Upon regulatory approval, B. Braun Melsungen will have exclusive worldwide marketing rights. Genzyme Transgenics will retain certain marketing rights in North America. <<
From what I can see here, GZTC will get 13M assuming certain milestones are met. In return they will produce the protein in goat's milk and conduct preclinicals and P1 (and perhaps P2?) trials. Then GZTC will share expenses for pivotal trials.
In return for all this, upon regulatory approval, all GZTC will have from is "certain marketing rights in North America." I assume that means no royalties for any sales outside of North America. Is that true? Can you elaborate on the meaning of "certain marketing rights in North America?" Are those rights quite substantial? Will GZTC have a great majority of profits from those marketing rights? If not, this seems like a great deal for Braun Melsungen, but I'm wondering just what GZTC is going to get. I imagine the release is purposely obscure, but I am hoping you can provide some clarification of the points I have mentioned.
As always, I (and I know the rest of the thread) deeply appreciate your responses. Thanks, Andy |
