janssen say no, page-25

It would almost appear like Hockings has almost half of the value of the company invested at these levels. Would have to assume that his investment was based on where the science appeared to be heading, although janssen would have to play a part.

Downside is that Janssen must know everything that pyc has to offer and as a major pharma if they could find no use who else will. Cant believe they couldnt use something that makes treatments 25-50% more effective. I guess the issue there is that the only real benefit in that is to reduce the raw materials required for same theraputic dose, and in reality the cost of raw materials in an average drug has no relationship to final cost, ie dirt cheap by comparison. Maybe that was the issue, as if the 50 times improvement was the only proven benefit why would they pay a license.

The report clearly states that they achieved all milestones though, so we would also have to assume they were able to deliver a specific conjugated payload within a specific cell type and prove escape from the endosome and effective payload delivery within the cell. If this statement is absolutely true then hard to believe it is not worth something to someone. Especially when the owner of the technology is only worth 12 million odd now?