terms of agreement, page-21

It concerns me when companies, at the very early stages of drug development are promoting things like the partner percentage splits upon successful commercialisation.

Great stuff for feeding the traders in the s/term, but for me this only places some doubt over any long term confidence the management hold for ATL1102. Whilst the financial terms and all other material obligations from both parties would most likely already be outlined at the term sheet stage, the potential for commercial success is still many years away.

Stripping all the icing away from the market announcements such as the Genzyme/TJAB partnership and the fairytail outcome of commercial success etc, the detail of this arrangement remains quite simple imo.

TJAB acquires access to state of the art antisense technology, in both know-how and intellectual property, in return for the potential for ANP to re-establish the clinical development of ATL1102.

As they always say, the true value of an early stage biotech company can only be measured by the value of its IP. ANP handing out free licenses doesn't give me any comfort as a prospective long term investor in this company.

Moreover, Genzyme's partnership with TJAB was only related to the field of translational research and educational training, which imo is hardly worthly of promoting TJAB as a lucrative partnership opportunity for any small biotech company. Imo, it's a positive baby step towards the possibility of moving ATL1102 back into the clinic after long-term toxicology concerns with the drug caused Teva to terminate its license agreement with ANP back in 2010 - but that's where the buck stops for me.

Before commencing any new clinical trials of this drug, toxicology studies will obviously be required and the outcome of those studies will have to be statiscally significant to previous findings before any progession can be realized.

For over a decade now across public investment forums people have been promoting a promising outlook for RNA-based technologies, however lets not also forget that in 2010 Pfizer and Roche closed their entire RNAi drug units, followed by Norvatis ending its partnership with Alynlam, and then only a few months ago Merck also closed down its entire RNAi operation. Take a step back and one might see a very different picture.

On that note I should add that there are some very informative posters on this thread among all the fluff, namely Aces, whose opinion on ANP forms a far more educated one than my own.

If you're reading this Aces, do you think the PDUFA date or outcome for Lomitapide poses any threats to the outcome for Mipromersen?

From a l/term investors perspective ANP's ATL1103 holds all the promise for the treatment of diseases associated with excessive growth hormone and IGF-1

This is the one to watch,

imo.