There you go. Reference the comments of J. Kelly Ganjei, CEO, after the announcement of Cognate’s management buyout of NWBO:
“This transaction is the culmination of years of planning and execution on the part of our highly collaborative and dedicated team with committed investors who came together to make this a reality,” according to J. Kelly Ganjei, CEO of Cognate BioServices, Inc. “We are excited to have completed the second phase of our growth strategy and look forward to further demonstrating our compelling and unique value proposition to the cell therapy market.”
If I were a betting man (I'm invested here each of you feel free to make your own assessment) I'd bet the farm Mr. Bigger has a recent photo of himself with Dr. Liau. Be nice to see said photo posted on Mr. Bigger's Twitter page in the near future.
I think someone else mentioned that it would be a buyout or a finance that looks like a buyout. I think they can still sell the 60m in preferred shares and the common to raise money, bring in a new investor. I do think that any investor would want proof of results at this point. I think that’s why the car-t companies could demand a premium, they had viable products at buyout.