What makes you think they are looking for another cornerstone investor?
IMO the area management is light on is manufacturing, sales and distribution. A celgene type partnership mitigates this risk and ticks every single one of our boxes:
- Trials paid for
- Additional upfront funding for general business
- Maintains US sales (biggest market)
- Royalties on net global sales
- Equity investment in options covering additional operational costs (if required)
- Additional payments on achieving key milestones
This should (and probably is) the board's priority. A partnership would pick up the slack and provide limited/no dilution.
Responsibilities of the team, page-58
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