Update, but no change in valuation. Quite like the bit about Lani.
"we note any executed license deal driven by Biota
has the potential to surprise on the upside v TC est. (US$125m deal exroyalties)."
link
http://www.biota.com.au/?page=1021003&subpage=1021136
or
http://www.biota.com.au/uploaded/154/1021572_42taylorcollisonbta0909-u.pdf