A recent deal in this arena was the Onxeo and Monopar deal for Validive. It was worth 1 Million upfront with upto $108 million in milestones and Monopar was completely responsible for all development costs as they moved the drug through phase 3. It's hard to find the data on that drug though.
Nothing over the moon to me. I would assume that IPIX is the leader based on delivery method and data thus far. Having the ability to distribute BOM in sachets is going to be a cash cow for whomever our partner will be due to the low cost of packaging and shipping etc... Hospitals will love this type of drug for shelf space. Plus if we move forward and gain approval it could potentially be prescribed for EVERY patient with the specific criteria since we went after PREVENTION.
Another example is Soligenix, back in 2016 they received an EQUITY investment for millions and then that company was also responsible for development costs. I am not sure if that agreement is still in place.
Either way, this is a good market that is truly UNTAPPED. BP should want to move and move fast to get it to market.....so we have that going for us!
The kicker will come if that one TERM SHEET BP is still interested and working the deal for IBD as well. Now that can be very lucrative and tricky to hammer out the numbers. IBD is many of many billions, and can make the upfronts much much higher and or if Leo wants to take a risk, he can cook in major milestones if he thinks we can hit them for IBD.
I am guessing we will have a partner sooner than later because FDA has granted us an open gate to phase 3 and it would be foolish for a BP to waive off what could be a billion a year drug in the future.
Time will always tell. Right now we are in MFO world and they are beating us up, but it will end when a partner is on board.
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