Biotech Values

[OakesCS]

My guess is that the PER.C6 JV will remain unchanged. Do you have any particular reason for asking about this venture?

i invested in Royal DSM as a safer way of investing in Crucell's technology. As it turned out my unrealized gain is almost identical to what it would've been if i'd bought CRXL instead and sold into the JNJ offer. However, if RDSM retains 50% ownership in PER.C6, then I think the RDSM purchase could turn out to be much more profitable. Conversely, if RDSM has the power to issue licenses, then I'd think that might concern JNJ and if JNJ can put the kabosh on prospective licensees, then that can hurt RDSM.