1. It provides yet more evidence that those with the best understanding of drugs believe the EMIS technology is a powerful way to deliver drugs.
2. At the same time, the deal serves to remind us that the oral delivery technology developed by EMIS has enormously broad application; there are a great number of currently marketed drugs for injection only that conceivably can be adapted to oral delivery.
On the former point, it is also worth noting that GNTA is very cash poor, yet they are dedicating a portion of their precious cash to funding EMIS's development expenses in this program. That says something about their confidence in the EMIS technology as applied to this program, as well as the commercial prospects of the program.
On the latter point, I couldn't agree more. Especially in view of Goldberg's comments on this WS Reporter call about numerous potential licensees, I think we are going to see more deals in '06. Now that NVS and Roche have shown the way, many others appear to want what EMIS has, and it is just a question of striking the right deal terms.