At Lundbeck, our in-licensing review process has four stages:

Stage 0 – Initial evaluation

• Candidate identified as a potential partnering opportunity
• Evaluation of business hypothesis
• Entry into CDA/Secrecy agreement

Stage 1 – Full evaluation

• Business hypothesis established
• In-depth internal scientific evaluation of confidential material to confirm scientific rationale
• In-depth internal commercial assessment to confirm business rationale
• Initial business case developed

Stage 2 - Due diligence and confirmation of business rationale

• Completion of due diligence
• External validation of business rationale (market research, exclusivity assessment etc.)
• Cross-functional validation of partnering opportunity
• Development of non-binding terms
• Confirmation of business case

Stage 3 - Negotiation and contracting

• Negotiation of deal terms and conditions
• Final deal terms and conditions
• Finalization of partnering contract