Bodyguard, page-6

P&G will only decline the opportunity to commercialise the BG technology if it would not make commercial sense to do so (based on a poor trial outcome for instance). Should this scenario materialise, and P&G waive their right to first option, the likelihood that GSK or any other commercial entity would look to utilise the BG technology on a commercial basis would be, I fear, quite minimal.

From my understanding, when it comes to BG, it's P&G or bust, and it all hinges on the trial outcome. All of course, IMHO.