Just a few thoughts re: the Leptin deal.
It's now over a year overdue, and during that year, Ligand's value and prestige has increased several fold.
While finishing the Lilly deal, they mentioned that they had "fallback" arrangements in case the deal didn't materialize. They seem to now have that situation with the mysterious and reluctant Leptin partner.
The inability of the potential PARTNER to capture a Ligand collaboration so far is, IMO, a grave error on their part (not Ligand's) and calls into question whether we want our company to have to work with them through a long-term relationship.
Ligand is no longer a desperate little development co scrounging for $$ from any big pharma which may be amused to listen.
Therefore, if I'm Robinson, I might be more interested in shopping Leptin around for a more cooperative alliance partner. SO--
I'd slap a deal in front of them that gives me the sun, the stars and the moon, with 2 of the 3 up front. Then I'd stand at the door with one foot outside and a cab waiting, and indicate that if I heard anything more lengthy than "Yes, thank you, we readily accept!" in the next 20 seconds, it's over and I'm down the street.
9 chances in 10 say he gets that "yes". If it's "no", DR and his staff save a lot of valuable time.
As I've said before: Biotech is about marvelous science. But more than anything else, it's about BUSINESS! |
