new edison research positive for transgene

Hi All, I recently became a VHL SH, basically following Paul Hopper's ability to pick up strong oncology assets on excellent valuations. I also hold IMU. There is a new Edison Research Note out that states the following about Transgene that uses VHL technology;
Transgene - Novartis’s decision could be for the best Click for report

Novartis is not in-licensing the rights to Transgene’s TG4010. Despite this setback, Transgene remains confident it will find a new partner, which is understandable given the new data from the PHASE II/III TIME trial. It is also possible that Transgene will find a better partner with a greater focus on oncology immunotherapies. It is advancing the TIME trial into the Phase III stage, and Pexa-Vec should enter Phase III in mid-2015 following the €65.5m capital raise in March and acquisition of its partner Jennerex by SillaJen. Our valuation of Transgene is €395m.

Upside ahead for both Transgene and Pathway IMO, hence VHL