$10 Billion Deal, page-12026

100% every single prospective purchaser would likely have an NDA with BIT.

This is due to them being shown BIT's IP and how to make BIT 225,
And their other compounds,
how it works,
All the Trial results,
Etc.

It is also due to the interested parties not wanting their competition knowing they are interested and trying to also move in and make an offer.
Or even simply know what the other is doing.
It would also be so they can do their DD and look at all of the information and
decide on an offer price etc,
without being in a race / competition with their competitors.

It doesn't just have to be Big Pharma signing an NDA,
And / or potentially becoming an Sponsor / Partner / making a Takeover Offer etc.
It can be Foundations, Medical Institutions, Pharmaceutical Companies,
Agencies, Etc....