Iconoclast,
why are you so against a partnership,... maybe between a buyout and a partnership DM prefers a partnership.
If a BP offers $50 million and milestone payments, and double digit royalties, for a CKD or Dementia or a Synergy trial,... that would not bother me in the least. I could see the company getting onto the Nasdaq and getting to double digits in no time.
It would remove risk for the BP but allow them to come back and milk the cow for all sorts of indications if they negotiated first rights of refusal for all other indications.