‘Of course someone from Starpharma is on the Petalion Board’ ~ @Maz2024
Funny that it wasn’t disclosed at the webinar !! And still hasn’t been disclosed to the market !
Apparently it took a Hotcopper member some sleuthing on the interweb.
And it’s not casting aspersions, it’s a fact. Signing a ‘deal’ with Medicxi will definitely trigger a KPI for remuneration for certain executives. And if Starpharma board member DM is actually now a board member of Petalion, one can assume he will be paid a salary.
Are any other Starpharma executives or associates going to financially benefit from this venture capital deal and private company arrangement? It is a very fair question.
It appears Starpharma have ‘given away shareholder’s valuable Starpharma IP to Medicxi in exchange for a 22.5% shareholding (that it very likely dilutable) of a private company in another country controlled by others. No licence fee, no milestone payments.
If things don’t work out, us shareholders will own 22.5% of nothing! Others will have been rewarded along the way, just not us.
This smelt from the first announcement and IMO the stench is getting stronger. Inching towards a sell and avoid recommendation.
