>> Just curious why you think this would present an obstacle.... <<
If Levitt et al think the Squalamine rights in cancer are worth a bundle, but the other party to the negotiation thinks they aren’t, you can have a “valuation gap” even if both sides agree about what Squalamine is worth in AMD. I’m not implying that this is what happened in the discussions with Merck, but it is one possible scenario.
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