Checker vs poker

Team up

DBP is, as many of you know, in a process of finding a partner for co-development of our front-line products: Temodex and SA-033. The partnering itself is very important from several points of view:

  1. Access to more resources for the faster future development. For many companies it is often a strategic end-point, an exit, a target of their sole existence – to be one day acquired by a greater player for a greater price.
  2. Access to a larger infrastructure (clinical, marketing, distributional etc) to further leverage the development of the products.
  3. A scientific, technical, market and public validation/recognition of the products – the sole fact of a deal with an established player on the market does prove that the product has a great potential value


Be patient

Partnering process takes often time: to buy a medicinal product has a quite different timeline than to buy a hot-dog.

What steps are usually to be taken:

  1. Scouting – pharma companies looking through their mail-boxes, searching for relevant projects in partnering forums, and scout the conferences
  2. Project selection – pharma companies, usually having their own preferences regarding what projects are suitable to involve in depending on marketing, indication area, stage of development, ownership status, legal structure, patent status, competitors, environment etc.
  3. Due diligence (DD)
  4. Decision making/Negotiation/deal structuring


Find the gap

Every step is not equally time-consuming. Scouting is the fastest step – small companies usually e-mail everything to potential buyers, so for the latter is just enough to open e-mail box. Project selection can be fast if the buyer has a driver or [hole in the pipeline] an urgent need for some project. If a pipe-line is balanced this step can take years. The same situation is with DD. The most interesting part is the final one – negotiation. It is just as playing poker against a casino, the house is always the winner, in the long run.



The fastest process for a partnering which I heard of took 9 months, in general it usually lasts for 1-2 years.

What about our products? Both Temodex and SA-033 were/are in DD stage as far as we know. Our products are on radars of several players. We have seen both covered and uncovered interest in faces of experts, and we understand a great therapeutic and commercial potential of our products. Shall we start learning how to play poker yet? Personally, I prefer checkers, but sometimes it can be fun to surprise…


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