With respect, check the original Cephalon deal. Certainly there was an upfront payment, and a commitment to fund the trials, but also, milestone payments up to $1.7bn due on performance. Teva could have taken a hit and handed the Revascor project back to MSB, but, they have not done so, even after 2 separate cost-cutting exercises. So I would suggest they don't HAVE to proceed, they have taken a very conscious decision to stick with the original deal. I would suggest that shows strong conviction as they are still leaving themselves on the hook for rather large success fees.
MSB 0_o, page-43
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