Oncology Pharma is licensing the I.P. from Regen to develop their own drug. It's on them to raise the money for clinical trials, not Regen.
But yes, Regen does need to come up with the $50 million to close the Canary buyout/merger. THEN they need to actually take their patents and develop an actual drug with them. You know, an actual chemical substance that can be administered to a human being. THEN they need to develop a pre-clinical trial testing plan. After they do that, and perhaps test their product on animals first to make sure they aren't toxic, THEN they need to plan out human clinical trials. THEN they need to raise money for clinical trials, which for an injectable/IV cancer drug, will easily be $150 million. These type of trials are the most expensive and time-consuming you can get in the pharma world, unfortunately. THEN, of course they need money to keep the company afloat for the 5-10 years that the whole process will take. During this whole process, they need a CDMO to manufacture the drug. Not to mention, they haven't hired any of the people they need to make this all happen: Chief Science Officer, clinical scientists, a consulting company perhaps...
Good news is that good results along the way, even very early-going results, can send the share price skyrocketing. This is biotech. Revenue means nothing, only potential revenue.
The best bet, barring an out-of-nowhere buyout, is for Regen to sell a percentage of future revenue, say 30%, for an outside party to fund all this. A major pharma company could afford to fork over about $250 million for Regen to get the show on the road in exchange for a 30% piece of the future pie. I think this is more than fair. Clinical trials are very expensive and very risky.
JMO.
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