Thanks @Sector
Maybe being out of CYP has blurred my recollection of @pfeifer1982 s posts
Can you also give comment to the below (cut and pasted from prospectus section11:4) ?
Milestones
Cynata agreed and warranted that it would meet certain milestones under the License Agreement. The outstanding milestones are that Cynata: (a) file a company sponsored Investigational New Drug application (or an equivalent) with the US Food and Drug Administration (or an equivalent foreign agency) on or before the fourth anniversary of 26 March 2013 for a therapeutic product. For each therapeutic product that meets this milestone, Cynata will make a payment to WARF on standard commercial terms within 120 days of the achievement
(b) file a Biologics License Application (or an equivalent) with the US Food and Drug Administration (or an equivalent foreign agency) on or before the eighth anniversary of 26 March 2013 for a therapeutic product. For each therapeutic product that meets this milestone, Cynata will make a payment to WARF on standard commercial terms within 120 days of the achievement; and (c) receive FDA approval (or an equivalent from a foreign agency) on or before the eleventh anniversary of the 26 March 2013 for a therapeutic product. For each therapeutic product that meets this milestone, Cynata will make a payment to WARF on standard commercial terms within 120 days of the achievement
.......
Termination There are termination clauses within the License Agreement, which otherwise continues in force until expiration of the last to expire of the licensed patents and patent applications comprising the Cynata Technology. For example, Cynata may terminate the License Agreement upon 90 days’ written notice. WARF may also terminate the Agreement in various situations such as for breaches by Cynata, defaults in payment, if the payment of earned royalties, once begun, ceases for more than four calendar quarters or if Cynata fails to meet any of the milestones summarised above or becomes insolvent
Does this old announcement cover point C in milestones ?
ASX ANNOUNCEMENT 28 March 2018 FDA Grants Orphan Drug Designation to Cynata’s Lead Cymerus™ MSC Product, CYP-001
You may be thinking that I'm negative on CYP - not the case I'm trying to justify to myself as to whether I should again take a position and I want to ensure that some bases are covered
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