Ann: VitroGro Sales Planned to Start in June 2012, page-81

re: Ann: VitroGro Sales Planned to Start in J... I also agree with TDA. TIS clearly still has complete control over VitroGro.

The partnerships we are debating IMO are simply operational partnerships, whereby the partners carry out their specific functions. I don't see them as ownership partnerships.

As TIS has control of the intellectual property, and carried all the high risks up to now including funding, product development, trials, and approvals, I would think these and future deals would reflect this. My guess is that the parters would get recompense of actual costs, plus an incentive payment comprising a relatively small % of sales.

Given the above, I think TIS could well get more than 50% of net sales revenue (after marketing, sales and logistics costs). Also, as scale efficiencies come in with growing sales, it won't be long before these costs become a smaller % of revenue, leading to increasing margins with time. This is much better than a traditional royalty model with large pharma.

I also think there are many reasons not to divulge too much commercial information at this stage, including keeping competitors AND potential acquirers in the dark, and ensuring better bargaining positions with future partners in other markets.

Good luck to all holders.