It is ultimately up to Cel-Sci, but I believe they want a complete buyout. Geert has hinted at this in the past.
It's one thing to run a clinical trial, but it takes an entirely different skill-set to commercialize a drug. That is not to say he couldn't do it, but he would have to shift his thinking from what he has been doing all his life. Remember that for Geert and his team, CVM is all the 'real-world' experience they have. And they have been laser-focused on doing the clinical trials and build-out, with expansion, of the MFG facility.
Commercialization is a whole different animal.
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