Look at Celgene in August and the option taken in Acetylon for $100M on ACY-1215 still in Phase I because it was shown to work synergistically with Revlimid, Pomalyst & didn't raise toxic profile further.
$100M payment up-front to secure the option then $1.7B if they decide to take up that option at a later date.
Patrys is more advanced than Acetylon & Onyx are exploring exactly the same kind of ground with SM6 that pushed Celgene to make this move.
It's a good deal and far greater value than where Patrys currently sits but in the scheme of things the question has to be asked as to whether that would be a good move or not always requires a lot of thought.
takeover, page-44
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