So there are some data points out there. For us, we haven’t refined it beyond our internal analyses, simply because it still is early. And it will be driven, of course, by value-based pricing. So we don’t know what it’s worth, so to speak, because we don’t have a real strong metric to use. But that is actually part of the clinical study design is to ensure that we are tracking and measuring things that are important to patients so that we can justify a high value in connection with the pricing of any future therapeutic, which gets approved. So there’s a tremendous unmet need. There are a lot of different approaches out there. Certainly, we feel comfortable that it is worth the investment in the space. There is a paucity of competing programs.
And our approach could work quite comfortably with a lot of other approaches, such as electrical stimulation, or some of the more physical, external mechanistic approaches that are being developed, including potentially some of the brain interface work that is starting to emerge as really interesting as well. So I’m sorry, I can’t keep it short and just give you a number. But we feel comfortable that it merits continued investment, because it does represent an exciting area that again can cooperate with other approaches that are in development.
Kristen Kluska: Thanks a lot, Brian.
Brian Culley: Thank you, Kristen.
Operator: Your final question comes from the line of Mayank Mamtani from B. Riley Securities. Your line is live.
Unidentified Analyst: Hi, guys. Madison [ph] here for Mayank. A couple of questions for me. One, you mentioned you guys were looking at clever financing. And then I believe you said that in regards to Eterna, there are some predefined milestones next year. So just wondering if I heard that correctly? And if so, if you could mention what kind of the trigger is, what is the kind of threshold there that you really need to hit? And then secondly, the ANP1 functional model, I’m wondering if that’s a model that you guys have created or are creating, or if it’s a widely used model in the literature? And then lastly, if you could tell us the transfer of activities at Roche from manufacturing, kind of the status of that, I know it’s still ongoing. But if you can kind of mention the progress made say versus last quarter. Thanks, guys.
Brian Culley: Yes. Thank you, Madison. Hopefully, I tracked those questions correctly. With respect to clinical financing, we’re fortunate that we believe that our programs, and in particular the OPC1 spinal cord program, are a good match for the California Institute for Regenerative Medicine, and we would hope to be eligible for and receive financial support. I would suggest to you that I’m not sure that there is a better cost of capital than that fantastic program that is available here in the great state of California. So I really like CIRM and I’m hopeful we’ll be able to get support as that program has received support in the past, and I know of no reason we wouldn’t be eligible in the future. With respect to Eterna and triggers, the agreement that we have is one in which there are certain performance metrics, which Eterna is looking to accomplish in generating the line.
So we are funding a certain amount of work and they are going to produce a deliverable, and that deliverable has to meet certain criteria. If it does, that would trigger some elective payments, if we want to continue. And we want to continue. That would be success. But if they fail, we are not compelled to have to continue. But we elected previously that we would be making some investment in their work and supporting some of that work, almost like an outsourced model, because we are not gene editing experts and do not have those capabilities here. Your third question around ANP1 and the model, actually let me finally bring in Dr. Hogge and he can talk about whether we’re looking for a precedent. And then Gary may as well continue on tech transfer although there’s little we’re allowed to say there.
