Avid Bioservices Inc (CDMO)

[Protector]

There is a difference between partnership and collaboration.

And PPHM did not switch from partnership to collaboration they added 'collaborations' to 'partnerships'.

As to the difference.
(personal feeling about how they use the terms given the context)

A collaboration is an agreement to work together on something with no contractual long term agreement to say IP rights or pipeline rights (say no commitment to any commercial stuff).

When the collaborations (joined clinical research with shared cost - eg: PPHM delivers Bavi and other delivers or does XYZ) result in something that has potential, a partnership may come out of it.

The partnerships on the other hand must be about what PPHM already has, will have or con control via IP. It is a more revenue oriented contract, which optionally - eg a product not on the market - could include some common research or clinical trial activity but doesn't have too.

Now, of course that definition is as good as one is willing to accept it. I am sure it can be tuned as well as I am sure so one can turn a completely different one out of there hats.