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DewDiligence

11/13/10 2:51 PM

#108845 RE: mcbio #108826

If MNTA is serious about spending a non-trivial amount of its own money to take M118 through phase-2b/phase-3, MNTA ought to consider a transaction to monetize its future cash flows from Lovenox, similar to what VRTX did with JNJ/ Mitsubishi on the ex-US milestone payments for Telaprevir. I think NVS would pay well north of $1B up-front for MNTA’s cash flows from Lovenox.