I have just had a thought for the ADO legal team.
If Ellume is very successful and GSK decide they want to take it over, then there should be a clause in the contract with Ellume that says 'in the event of a takeover, then the arrangements re royalties, commission etc with ADO need to be re-negotiated'. As in we might have done Ellume a favour but its not going to be extended to the big takeover guy.
That might mean a better deal for ADO. They might decide to takeover ADO as well. But it does help get a better deal in the event of a takeover of Ellume.
I prefer ADO to remain in business on its own because a company usually does better in the long run on its own. And like some of australian technology to make Australia richer instead of the usual G7 suspects.
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