This implies we payout 50% plus of the royalties to WARF including on the milestones.
Cynata is also required to pay WARF a mid-single digit percentage royalty on Fujifilm product sales and 30% of other amounts received from Fujifilm, including in respect of milestone payments.
So the 3 million upfront we only get to keep $2 million and of the potential USD 43 million we only get two-thirds of it.
Ann: Fujifilm Exercises License Option in GvHD, page-23
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