Saturday, December 15, 2018 9:36:17 AM
"...Novartis will assume full responsibility for emricasan's Phase 3 development and all combination product development."
That's only accurate IF they pursue phase 3 and that was my point. I, as well as most of us here, believe that there will be further development i.e., phase 3 and perhaps additional trial offshoots as well as "combination" (key word) product development. But that doesn't mean that NVS was obligated under the contract to pursue phase 3- only that they WOULD be responsible for and fully liable to fund IF a phase 3 trial was implemented and/or combination drug development was pursued. The fact that NVS has not walked away is what I meant- that NVS is still around and suggests that NVS intends to see this further.
As far as Conatus being bought out, I couldn't agree more. If you read the 12/19/16 Agreement, it's as if they were anticipating that very scenario to begin with:
"Upon the License Effective Date, Conatus and Novartis will establish a Joint Steering Committee composed of senior personnel from each of Conatus and Novartis to oversee the collaboration, development and commercialization of the Emricasan Products. In the event of a change of control of Conatus, Novartis has the right to disband the Joint Steering Committee and all decision-making power otherwise assigned to the Joint Steering Committee will be assigned solely to Novartis."
Notice that where it says "In the event of a change of control of Conatus, Novartis...", It's almost like saying "When NVS buys us out, we'll defer all decision making to NVS"
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