On page 9 it states that Denali.." Must pay fees or royalties to licensing partners across all programs"  

Why? 

And for Bioasis it states "ownership of platform technology across its multiple payloads candidates"

I would have thought that Denali owns its platform technology as well with having such close relationship with Tekada their main source of funding.   

Bear, perhaps I have not connected the dots correctly?

August 2018 Corporate Presentation

Koo