There isn't a party yet that's teamed up with PAR, yet. I agree with you, dedicated healthcare professionals are scant in Aus. They exist in USA and a number of other areas but there are hurdles that are specific to us.
The major one is the abhorrent and sheer number of failures in OA in the last decade plus. A few just off the top of my head:
The big one was the first one on that list, such enormous dollars were lost. Sponsors and their backers have been very badly burnt. Thats deal was worth some $1.8 Billion 12 years ago...USD.
Now the entire industry is super cautious and even more so when you have this tiny company of merry men and women from some place Down Under claiming that we have a drug that does everything...pain, function...duration...symptomatic and structural and what??? It is safe too ????
Baloney
We will believe it when we see it
We will see it in Phase 3.
I went to Oarsi and I asked a KOL...a total leader in the field. I asked him in not so many words, why aren't you believing in iPPS? What am I missing...what do you see that I don't in terms of risk?
He said...I need 50.
I said what?
$50?
50 points out of 100 on the VAS scale?
50 degrees of flexion?
Nope..he needs to see a minimum of 50 in each arm...pbo and active in a P3.
Then he will be convinced.
That time...is coming...for us.
Yes of course it seems hard to fathom how we don't have a deal yet...I will have a little more to say about this later this weekend. But our potential is there...and it will happen one day, thats my personal belief. First is funding and getting to that P3 platform.
There are many entities that are cautious and are simply waiting for us to prove ourselves. You are right, zero validation from those in the know. But at the same time, the really giant Pharmas will not bite until they are convinced and it's even more de-risked. It also is in our interest not to form a partnership with these Big guys till later, it will be worth *so* much more! But, I do honestly think our chances of striking a smaller regional are high and will only escalate as Interim draws closer. It's much easier to do a smaller localised deal this side of interim, they can take a smaller risk upfront and we can pile on the stepped up royalties for the back end.
At the same time we wont be giving it away...it does set a precedence and we do need to declare the main attributes of the (first and subsequent) deal publically.
As Paul said, a small haircut for the first is tolerable...then later we will see. PAR know this.
DYOR
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