Biotech Values

[DewDiligence]

RDEA: If that's the case, obviously rdea can't license 806 prior to phase 2B without some sort of amended agreement with Valeant.

They don’t need an amended formal agreement, IMO. RDEA can license RDEA806 for HIV before completing phase-2b (assuming that someone wants it) by simply offering it to VRX on the same terms. VRX probably doesn’t want it anyhow. This clawback provision is in all likelihood moot, apart from any royalties VRX might earn on commercial sales.