Depending upon how much detail the non-binding term sheet included, the definitive agreement could be fairly close. It seems the right of refusal and negotiation would be an indication that significant details have already been worked out and documented. It's interesting that the PR did not say the GP was engaged in further due diligence like the August version did. If this is the same the GP that was involved in the term sheet from August, they have had all this time to complete due diligence and details on pricing and milestones/royalties could be set. Cannot wait to hear who the GP is.... hope we hear soon.