re: Ann: Phylogica Signs Collaboration and Li... On that note with punts though while many majors have toned down their R&D budgets (which probably doesn't really impact PYC's approach anyway - as it's really outsourcing dicovery based on milestones so limited up front from the majors) Merck & Eli Lilly are the two giants that have bucked the trend with increases as opposed to slimming down R&D expenditure.
Anyway time will tell
Ann: Phylogica Signs Collaboration and Licensing , page-76
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