Ann: Corporate Presentation, page-84

No, he's not lying, it's impractical to think that 1AD will achieve a similar deal 'just because'. Context matters. For example - Syntax in Sep 21 was a roughly 1.5billion dollar company, the molecule had Orphan Drug Designation for both Chronic GVHD and IPF. Sure, 150million is a lot of money, but it was 10% of their market cap. Do you really think another pharma company will offer 70 million up front and 400-1billion in milestones to 13 million market cap 1AD when they could simply buy them for a lot less than that upfront? It makes absolutely no sense.