ado takeover target mentioned in marketmerger, page-23

Thanks FP,

was looking thru several takeovers for awhile now and tot i'd share this.

here's this technology ~similar to ADO's, called the ECL (mentioned in one of ADO's earlier presentation).

here's abit of background dig on IGEN w Roche.

in 1992, IGEN went into a licensing agreement with boehringer mannheim (sold to Roche). the agreement details a 9% royalty + $50 mil cash + grant back rights to improvement for IGEN, while BM acquires exclusive license to advanced diagnostic technology.

however BM went on to market it to the POC market years later (which is not part of the deal).

after 6years of litigation. IGEN was awarded with 500mil in dmges etc.

n eventually Roche acquired IGEN for ~1.5billion. in addition, IGEN spun off another coy to deal with its other technologies as part of the deal (http://www.roche.com/med-cor-2003-07-24a)


e above background is to show
1. e uncertainty of the future for an early stage technology + the trouble it can arise

2. why contracts should take a long time to negotiate and draft to ensure it doesnt bite u back later.


ADO's mix&go tech (thou developed) is at an early stage which holds alot of potential. the mgt plays a big role during this period and it's pleasing to read from ur post/disccusion with Geoff.

cos if management doesnt have a clear direction, these potential won't be realised.

Geoff's validation programm is still in its early days, (and personally m liking what i see), hope to see more of his work.