takeover, page-44

Look at Celgene in August and the option taken in Acetylon for $100M on ACY-1215 still in Phase I because it was shown to work synergistically with Revlimid, Pomalyst & didn't raise toxic profile further.

$100M payment up-front to secure the option then $1.7B if they decide to take up that option at a later date.

Patrys is more advanced than Acetylon & Onyx are exploring exactly the same kind of ground with SM6 that pushed Celgene to make this move.

It's a good deal and far greater value than where Patrys currently sits but in the scheme of things the question has to be asked as to whether that would be a good move or not always requires a lot of thought.