Nope. Medicxi have not actually committed USD$25m to the venture. The kicker is in the wording of the announcement.
It’s up to USD$25m.
So it could be a total investment of USD$4m over 4 years for all we know.
Would any sane person sign a contract to sell their house where the purchaser has a binding clause specifying they will pay you up to a certain figure? Determined by the purchaser.
Would anyone really let their employment contract state that their employer has the right to pay them up to $xxx per week? To be determined by their employer
Deep down I believe Starpharma are getting owned here. IMO they are negotiating all future deals from a post of weakness.
Ann: Change in Director's Interest Notice - R Basser, page-8
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