Pfizer / Antimicrobial-resistance fund, page-13

This is the Voyager deal: Voyager will receive $30 million upfront and is entitled to receive up to $20 million in exercise fees for two options, exercisable by Pfizer within 12 months of signing. In addition, Voyager will be eligible to earn up to $580 million in total development, regulatory, and commercial milestones associated with licensed products incorporating the two undisclosed Pfizer transgenes together with a Voyager licensed capsid. Voyager is also eligible to receive mid- to high-single-digit tiered royalties based on net sales of Pfizer’s products incorporating the licensed capsids.

If I understand, there are even more companies who are potentially interested in PBT2 than these:

• Pfizer Inc
• GlaxoSmithKline plc
• Merck & Co., Inc.
• Johnsons & Johnson
• Baxter Healthcare Corporation
• Zydus Cadila
• Teva Pharmaceutical Industries Ltd.
• Novartis AG
• Reddy’s Laboratories Ltd.
• Mayne Pharma Group Limited.
• Sun Pharmaceutical Industries Ltd.
• Cipla Inc.
• Shanghai Pharmaceutical Group Co., Ltd.
• Yuhan Corporation
• Abbott Laboratories

If a company with a market share in the antibiotic market somewhere in the world will not get a PBT2 deal, it will lose its market (?). To get this right and fair to every company is almost impossible. Let us see how this will end. In any case, it will be a happy end for ALT.