I don't know how long ago MSB and TiGenix began licensing negotiations but it was little while ago that MSB decided to concentrate on just a few solutions in the US to reduce capital burn. Which one pre-dates the other I do not know. Maybe they figured 5M Euros now and another 5 not long after then another 5 and another 5 later on plus royalties was sufficient along with their funding sources without having to raise more funds to tide them over till paediatric aGVHD is approved, which is supposed to provide enough income to keep the wheels moving. I don't know if licensing to Takeeda would have produced any more.
Of course MSB may have been using it as a price discovery mechanism. Just how much would Takeeda pay for a one product company using our technology license as a key component. Just floating idle thoughts but the time line encourages that.
Yet, instead, it has bought another party who is a mere MSB licensee.... strange corporate machinations, I find.
Yes, and they already had a fairly major holding in TiGenix, for one product in the equivalent of P3 and a couple of other early development products. Maybe they wanted something TiGenix does not make a song and dance about, not readily found on their web pages. If not then it is about their one product approved in Europe, with plans for globalisation.
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