BioSante Pharmaceuticals, Inc. (BPAX)

[QyQ]

Libigel is not part of ANI business plan in this merger. That's why, they placed zero valuation on it. We can see that on GVAX faith as well whereby also zero valuation for ANI. Libigel will be either undeveloped, license or sold to Big Pharma cheaply by ANI

The CEO of ANI told Jeffqdh he would sell Libigel for 100 -200 mil "" in a heart beat ". This clearly indicate they have no plan to further develop Libigel in future even for off label. New CVRs deal also indicate that they have no plan for Libigel. They just put it there to please upset Bpax shareholders. If they got plan for Libigel, they will not place $2.5m expenses cap. ANI mindset is, if they spend money on Libigel, Bpax shareholders will not get a special privilege.

So, basically ANI motive is to get listed thru backdoor and offload their investment fund. ANI cannot afford to IPO alone cause this will cost them millions of $$$$. They saw chance with Bpax and they go for it...

Why Bpax agree on the deal? I said before, either Big Pharma 'prevent' or 'steal' Libigel.

Prevent - stay undeveloped at ANI
Steal - sell to Big Pharma cheaply