This is a small AIM listed Drug Discovery Co
The term sheet signed by the company with an American Co was signed on or about 20th March and both parties have 90 days to complete a licence which will be granted by HML, that brings it to about June 20th 2006.
I believe that on or about the 21st March 2006 The Daily Express reported that the signed deal was worth 75m sterling although the deal until signed must be a speculative buy.
It is worth a punt, I am sure as theTerm sheet states that the licence will cover USA, Canada, and Mexico

I agree the sp should rise toward the end of the 90day period. I bought in as the deal is supposed to be much more than the mkt cap of the company-figures will be announced when deal confirmed. also the treatment they're marketing has a huge market, as rdotdj says. as always DYOR.