I know people put all the blame in management for
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Posted On: 03/05/2019 8:28:19 PM
I know people put all the blame in management for where we are now, but in part this may have been out of their control. I'm speaking primarily about patent approval, and the fact that it's taking much longer than they initially thought it would.
I believe if patents had been granted in a more timely way, partnerships would have been possible with BP's in a timely way, especially if confirmed by efficacy in clinical trials. Who would invest in either a company, or a specific drug, without know they had intellectual property rights to what they were buying into.
The company cannot talk about negotiations done under confidentiality agreements, but I do believe they could say that if in fact they've had interest that this is a fact. I know they've done substantial preclinical work with both the sublingual tablet and psoriasis cream, they've also proven the safety of the cream in Phase 1 Trials. I don't know that they could get an acceptable offer for partnering either of these products if the patents came through, but if they did, I think it would eliminate their debt problems. Certainly, the closer a product is to approval the more you can get for rights to the product, but at this point the company isn't in a position to wait very long.
If they cannot get the patent approved they might be well off putting products on the market with no proof of efficacy, like many other cannabis based companies have done. Spending tens to hundreds of millions on trials of something you don't own IP rights for makes no sense.
If the above is frankly why OWCP has been dragging their feet in developing product, I wish they would have admitted it rather than keeping us in the dark.
Gary
I believe if patents had been granted in a more timely way, partnerships would have been possible with BP's in a timely way, especially if confirmed by efficacy in clinical trials. Who would invest in either a company, or a specific drug, without know they had intellectual property rights to what they were buying into.
The company cannot talk about negotiations done under confidentiality agreements, but I do believe they could say that if in fact they've had interest that this is a fact. I know they've done substantial preclinical work with both the sublingual tablet and psoriasis cream, they've also proven the safety of the cream in Phase 1 Trials. I don't know that they could get an acceptable offer for partnering either of these products if the patents came through, but if they did, I think it would eliminate their debt problems. Certainly, the closer a product is to approval the more you can get for rights to the product, but at this point the company isn't in a position to wait very long.
If they cannot get the patent approved they might be well off putting products on the market with no proof of efficacy, like many other cannabis based companies have done. Spending tens to hundreds of millions on trials of something you don't own IP rights for makes no sense.
If the above is frankly why OWCP has been dragging their feet in developing product, I wish they would have admitted it rather than keeping us in the dark.
Gary
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