You didn’t say anything about a message to potential partners. Contingency financing is really handy, it sets a benchmark to others about what is already available to the company. As such, it is not really a “nothing burger”.
Extracted below from https://www.labiotech.eu/in-depth/immunology-and-inflammation-market/?nab=1 are examples of transactions in immunology and inflammation market this year. Apparently people are now turning their attention to the market. Thanks to @bedger for posting the link:
”In March 2024, Novartis announced another acquisition, as it bought out IFM Due, a subsidiary of IFM Therapeutics. The company entered into an option and collaboration agreement with Novartis in September 2019, whereby Novartis helped to finance IFM Due’s research and development costs for its cGAS-STING program in exchange for the option to acquire IFM Due. This acquisition now provides Novartis with full rights to IFM Due’s portfolio of STING antagonists, which have the potential to treat an array of serious inflammation-driven diseases characterized by excessive interferon and other pro-inflammatory cytokine signaling.
…. Another immune-focused company launched in March of this year with $400 million in funding, called Mirador Therapeutics. The company said it aims to revolutionize precision medicine for immune-mediated inflammatory and fibrotic diseases by leveraging its proprietary Mirador360 development engine to rapidly advance multiple programs.
…. Ebru Karpuzoglu, an immunologist trained in molecular medicine and skincare specialist, and chief scientific director and founder of AveSeena, explained that the significant surge in investments in the market has been driven by a combination of scientific advancements, market dynamics, and unmet medical needs. She said that this trend reflects the growing recognition of the potential in this field to address a wide range of chronic conditions affecting millions of people worldwide. “The I&I market’s attractiveness to investors stems from its promising growth projections, the potential for developing therapies with multiple indications, and the relatively higher success rates in clinical trials compared to other therapeutic areas,” commented Karpuzoglu. “As our understanding of the immune system deepens and new therapeutic targets are identified, the I&I sector continues to offer compelling opportunities for both pharmaceutical companies and investors seeking to make a significant impact in healthcare.”
(20min delay)