I spent a fair amount of time looking for this information before posting here. I'm yet to find inconclusive proof that this is the case, going back as far as 2017 announcements.
I tend to agree with you and I think it is likely that they don't retain a percentage interest of the API, but I cant be sure. Really need clarification from the company in certain terms...
We need to distinguish between the "Distribution and Licence Agreement" covering Australia and New Zealand and the "R&D Services Agreement" being Worldwide. Both announced in the same announcement from 2017 - see announcement here and details of that announcement below.
Now, consider for a second that IVX do retain an interest in the API.......Whats IVX's value then?
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