Biotech Values

[mcbio]

If MNTA is serious about spending a non-trivial amount of its own money to take M118 through phase-2b/phase-3, MNTA ought to consider a transaction to monetize its future cash flows from Lovenox, similar to what VRTX did with JNJ/ Mitsubishi on the ex-US milestone payments for Telaprevir. I think NVS would pay well north of $1B up-front for MNTA’s cash flows from Lovenox.

Are you taking "co-fund" to mean a literal 50/50 split of development costs? I just took his comment more generally to confirm our suspicion that MNTA may be considering funding a portion of the development costs of the next M118 trial along with a partner. I.e., I think there's still the possibility that MTNA could be considering funding, say, no more than 25% of the costs of the next trial. I think I'd prefer that MNTA not monetize their generic Lovenox royalty stream.