Biotech Values

[DewDiligence]

Let’s look at this from another angle. Aeon Biopharma—EOLS’ former parent company and the licensee of Daewoong’s botulinum toxin for therapeutic indications—issued its own PR on the Korean court ruling.

Aeon’s PR employs less definitive language than EOLS’ PR, so I’ve highlighted some of the waffle words in Aeon’s PR:

https://www.globenewswire.com/news-release/2023/02/11/2606248/0/en/AEON-Biopharma-Confirms-Development-Strategy-and-Timelines-for-ABP-450-Unaffected-by-Korean-Court-Ruling-on-Dispute-Between-Medytox-and-Daewoong-Pharmaceutical.html

AEON Biopharma…responded today [i.e. 2/10/23] to the recent ruling by the Seoul Central District Court in favor of Medytox, Inc. related to a long-standing trade secret dispute between Medytox and Daewoong Pharmaceutical Co. Ltd.

AEON stated that it does not expect the ruling will affect its ongoing clinical development or planned commercialization strategy for ABP-450 (prabotulinumtoxinA) injection in target markets.

As part of AEON’s global settlement with Medytox, which was entered into on June 21, 2021, all outstanding litigation relating to Medytox’s strain of C. botulinum between the two parties was fully resolved under confidential terms. The settlement contemplates that any Korean litigation between Medytox and Daewoong would not affect the supply of ABP-450 to AEON.

My question to you, Joe, is why would Aeon have to use waffle words such as, “expected” and “contemplates” if the settlement agreement with Medytox was an absolute guarantee of access to Daewoong’s toxin supply?