Gary,
As I said I think all these steps are part of some milestone agreement. Nobody knows whats really happening but 100% do believe NW Bio and BP have had discussions. This kid of stuff doesn't happen in a vacuum and you would be surprised what really takes place on a day-to-day basis with these small biotechs and BP. There are a lot of conversations. Perhaps BP wanted in a cheaper price that Linda Powers did not agree too. Or perhaps terms and milestone conditions were agreed upon. Anavex CEO Christopher Missling once said: "the deeper you push into Phase2B and Phase 3 trials and more successful the trials are, the more complicated discussion's can get. And the prices get much higher". This is coming from a man that ran M&A for many years:
Dr. Missling, President and CEO of Anavex, has over 20 years of healthcare industry experience within large pharmaceutical companies, the biotech industry and investment banking. Prior to joining Anavex®, he served as the Chief Financial Officer of Curis and ImmunoGen. In addition, at Aventis (now Sanofi), Dr. Missling worked as head of financial planning on all aspects of financial strategy and M&A. His career experience also includes working as an investment banker in the healthcare practice at Deutsche Bank, serving pharmaceutical, biotech, and diagnostic companies, as well as serving as the head of healthcare investment banking at Brimberg & Co. in New York. Dr. Missling has an MS and PhD from the University of Munich in Chemistry and an MBA from Northwestern University Kellogg School of Management.
I'll take his word for it that these types of negotiations take time and MONEY. Good news for us.
-Fireman
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