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croumagnon

05/25/08 1:00 AM

#11230 RE: DewDiligence #11229

"But this runs contrary to what GTC has publicly stated about its intentions for the ATryn program(s)."

Perhaps GTCB does not have that prerogative anymore and they must now deal exclusively with a "finance-only partner". It seems to me that GTCB's public statements have been diverted enough times that I am not sure we can have much trust in what they say anymore...

The fact that the long awaited partnership fell apart a few months ago by their own admission now is a signal that a new partnership will probably not materialize anytime soon. As you well know, these things take a very long time to consumate and I doubt that GTCB can ink an ATryn partnership in a matter of weeks and months at this stage with a newcomer. However, they do have a good story to tell and I can easily see a finance-only partner being succered in just like we all were...

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05/25/08 7:13 AM

#11231 RE: DewDiligence #11229

I agree...

but could not the finance and commercialization partner be one in the same?

certainly deals can be structured fully understanding the immediate and long term needs to the benefit of both parties.
i.e. GTC has some bargaining chips (other than stock) they could trade for improved finances going forward.






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wjlknew

05/25/08 9:41 AM

#11233 RE: DewDiligence #11229

Unless it's the Tooth Fairy, a "finance only" partner will uudoubtably want something in return. If the "something" is interest, it's called a loan (like GE). If the "something" is a piece of the pie, it's called a partnership (like Leo and LFB). If the "something" is stock to play with, it's called a placement (like take your pick).

(I would think "silent partner" has no place in a public company.)

What other possibilities are there? Well, there is a buyout either by another public company or a private entitity to take it all private.

Or there is a merger vis-a-vis Genzyme and BioSurface Technology.

My vote goes to the merger ... Genzyme, Pharming, Pharmathene, whoever. However, if it was my decision to make I would try for the RS instead ... to reload for more financings/dilutions until some milestones are met.

Disclosure: I am not presently a stockholder so I can be a little more objective, but I may become a stockholder again ... depending on how this all plays out. My concern at this point is that Genzyme will play Pacman and leave stockholders wondering what hit them.