Heks of course it will take time but i'd assume extension of the agreement is based more so on the second stage than the first part - this paragraph pretty much sums it up, the libraries have been constructed & probably most signifcantly conjugated to J's proprietry cargo - their moves will be based on the outcoms from screening of this specifically constructed library. Maybe be sooner maybe later but i'd say 12 months is fair ball park considering that's about equal to the first stage. Although the R&D funding was initially for 18 months so maybe as short as 6 months ?
All in time
"In the first 12 months of the collaboration, Phylogica has successfully constructed novel libraries comprising over 100 billion unique Phylomer peptides conjugated to Janssen proprietary therapeutic cargo."
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