Gradalis have been very definite in their use of language when describing bi-functional shrna in every document that I have read. Deliberately, in my opinion, to set the scene for rejection of an claim by BLT. However, to-date they have not been too successful at convincing the US Patents and Trademarks Office that their technology is entirely novel. I am sure that they would have liked this matter clarified some time ago.
Now that they are getting into P2 trails and advancing swiftly their risk management plan would say sort out this problem or make a contingency for it and so they have contacted BLT. I suspect the content of their correspondence was basically, "We don't think you have a claim but what do you think BLT?"
Now, if I were Peter F, publicly I would be making a statement like yesterday; faint praise with a clear position that we believe we do have a claim. Privately, I would be replying in a more conciliatory way (well done, how can we help, we don't want too many $ etc), trying to solicit a deal. Classic carrot and stick.
I think BLT management are right on the money and I hope that the Gradalis management can manage their commercial arrangements as well as they have managed their research and development program. If they do, we will all win and, let's face it in the cancer field that they are in, there is a lot to go around.
BLT Price at posting:
55.0¢ Sentiment: LT Buy Disclosure: Held
