But there is a big difference now. When the Biovex deal was...

But there is a big difference now. When the Biovex deal was done, it was seen as a stand alone treatment for melanoma. And if Cavatak was now being developed as a stand alone treatment, I think it would be lucky to attract even 50% of the $1bn sum. To be honest I don't think it would be at all attractive, given the success of other treatments.

The difference is that Cavatak appears to complement those other treatments and make them more effective, that is a selling point. Ok Tvec is being trialled for that, but Cavatak is hopefully easier to administer without direct injection into the tumour.

Also it has fewer side effects, and has potential in other cancer types eg bladder and lung.

If it can show effectiveness in those areas I'd suggest that balances out your 'contacts' negativity. Orbimed certainly seems to think so with its willingness to invest.