Innovation Pharmaceuticals Inc (IPIX)

[frrol]

You can bet that there will be an "assignment" clause in the BP licensing agreement stating that IPIX's B license (ie, IPIX's license from UoP) is to be assigned to the BP if we can't meet development milestones (whether due to financial circumstances or otherwise).

This would be analogous to banks requiring an "assignment of leases" when lending to an investor who buys a mall or office building. If the borrower defaults, the bank takes the building as collateral and gets the lease payments that pay off the loan.