I am going to address both your posts in one response. Allogen is wholly-owned because we haven't funded it yet, When that happens it will become majorly-owned. What that involves I won't comment on in any detail now but there is no need to use TSOI securities to fund this, Allogen will use its own securities. In the end Allogen will be consolidated onto TSOI's books. In consolidation accounting, the information from TSOI and Allogen will be treated as though it comes from a single entity. The cumulative assets, revenues, and expenses are recorded on the parent company’s consolidated balance sheet and consolidated income statements.
Now in regards to manufacturing, no where did we say we were producing for commercial purposes. Our recent news on manufacturing had to do with us building out our SOP's and GMP spec sheets, chemistry, manufacturing, and control so that once our lab is built we can immediately deploy our SOP's and get certified as cGMP.
The purpose of Allogen then is to manufacture and cell bank all of our own cell lines for our own research, clinical trials, and hopefully commercial production with lines like Jadi in lung following P3. StemVacs alone as a platform will require many cell banks and we prefer to maintain that technology ourselves for the time being.
Codycrusher wrote: ↑Mon Oct 18, 2021 12:17 pm
I’m trying to understand the PR because I don’t think I fully have a grasped understanding of it yet, so the PR is related to this.
Allogen Biologics Inc, a wholly owned subsidiary of the Company.
Now my question is and I know that TSOI, owns 40% of Campbell neurosciences, now what I am wondering is, and I am being told that this Allogen Biologics is another Spinoff to TSOI, but in this case TSOI owns 100% of Allogenic Biologics, what I am wondering is, what does TSOI have to benefit by having another spinoff like this, I am wondering how this will benefit or excel the science in a faster more efficient way and or how this is going to benefit TSOI’s long term goals in a very Beneficial and good way, and also benefit shareholders.
No negativity in my questions, I just don’t understand the depth to the PR and would like a very detailed description so I can understand the benefits of this, Thankyou Tim.