I take it this is what the call on Monday is about. Good for them that they're paying Patobios off as I had subsequently read that they did owe Patobios royalties on any potential milestone payments and I believe royalties on any of the GPCR drugs. But, now it looks like they could end up owing Vulcan and the Life Sciences Discovery Fund royalties (no idea off-hand what R&D and commercialization costs are expected to be in total ultimately for the GPCR program so no idea how likely OMER is to owe royalties here), in addition to obviously still needing to partner with big pharma at some point and further diluting their economic intake from the GPCRs. But, I guess they needed some funding.
Separately, I will say I was digging around before and came across what might be viewed as a competing orphan GPCR program from CGEN. See: http://www.cgen.com/Content.aspx?Page=gpcr_ligands . And CGEN is partnered with MRK on this program. So, perhaps CGEN is ahead of OMER as it pertains to orphan GPCRs. Although, I'm not certain if CGEN's program pertains to novel GPCRs or if it pertains to novel ways to hit existing GPCRs, so there could be some differences.
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