Nice list SanFran. A few comments.

#2, #3, #5 and #6 seem quite intertwined. It sounds like you are painting a picture that backup molecule(s) that have had extensive pre-clinical testing and are ready for entering clinical trials are the progeny of the "Star Factory."

As for #2, I would like to know what defines an individual "Star"? Is a Star a single molecule, a sub-family of related compounds from their big library, a BET inhibitor scaffold, a disease target, etc. What would actually be spun off as an independent entity?

It is also still unclear to me what distinguishes Zenith from Resverlogix since Zenith was spun out from Resverlogix and both companies command their own extensive compound libraries. At the time Zenith was formed in 2013, it seemed that apoAI modulation defined Resverlogix and Zenith got everything else licensed to it from Resverlogix. But Zenith terminated this license and pursued its own IP. I discussed these points further in depth last month in this post. Now, Resverlogix commands 2500 compounds and Zenith 1500 compounds. What differentiates Zenith's compounds from Resverlogix's compounds? So your points #3 and #5 about patent protection and backup molecules for each company are very relevant.

Resverlogix and Zenith represent two BET inhibitor companies that can each go after any disease they want, with the exception that "Zenith continued to be restricted from developing any patents for any indication within the ApoA-I Therapeutic Field for a period of five years from the effective date of the License." Your point #6 about orphan indications comes in to play here. Although Zenith is currently going after oncology indications and Resverlogix is going after cardiovascular and renal, what is stopping Resverlogix from going after oncology in the future with their BET inhibitors? What is stopping Zenith from going after renal with their BET inhibitors? What is stopping both companies from going after autoimmune with their respective BET inhibitors? What is stopping both companies from going after the same orphan diseases with their respective BET inhibitors? Additionally, both companies have substantial overlap in Senior Management and Board of Directors. I think we need have a better idea of what differentiates Resverlogix from Zenith in order to adequately discuss many of your points.

Thanks for starting this thread. Let's keep it going.

BearDownAZ