Everyone attacking the company over the 3CL spinoff fails to mention that Todos did not own the IP from NLC Pharma for Tollovir, Tollovid or Tollotest. Why would Dr. Arad and NLC Pharma allow Todos to profit from their products unless there was some form of partnership? The entire history of this partnership hinged on Todos holding controlling interest in the 3CL Pharma entity and NLC Pharma holding the remaining ownership. Initially a 60/40 split but ended up at a 52/48 split. NLC Pharma transferred the IP for the above products into the 3CL Pharma entity, and Todos' part in that deal was to spin off part of the entity to public/private investors to provide funding for further development and clinical testing.
Todos and NLC Pharma would still maintain their respective ownership of the major part of the entity. Valuation was $1.9B but they were only going to raise about $20M in the spinoff and maintain ownership of the remaining majority. This is all spelled out in the filings and documents for the JV with NLC Pharma. Some here have flawed memories of the plan and act as though Todos had other options but fail to remember that Todos never owned any of the NLC Pharma IP until the JV with NLC and the creation of the 3CL entity occurred. I guess it doesn't fit their narrative, so they try to rewrite the history to something that supports their narrative.
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