It was communicated to me that prior to the latest round of financing SRDX stake was 'under 5%'. I would guestimate we're now 'under 3%'. I agree that the real money for SRDX will be in the royalties and we're probably looking at a procedure that costs ~$10K. I noticed that Novocell likes to take all the credit for the encapsulation technology in their public statements. I think this technology will pan out. Looking forward to hearing about human results with the allografts. They seem pretty confident about differentiating stem cells into insulin producing cells. Just hope they can back it up.
I'm not so sure double digit royalties are in the bag as it isn't really "our" technology to begin with. If I correctly remember info gleaned a few years ago from the old Novocell website, Novocell holds the PEG encapsulation patent and is using SRDX technical experience to make that inovation a reality. I don't believe we have any rights to PEG encapsulation beyond our assisting Novocell in its endeavors.
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