50% of sales would be an utterly unprecedented royalty rate in the global life sciences business particularly given the relatively early phase of the products, and particularly given the magnitude of the up front.
My expectation is that it would be closer to the low teens.
I refer interested readers to the outstanding and detailed 2012 report on royalty rates by the Licencing Executives Society, which is available online at lesusacanada.org.
Athersys announces Japan partnership, page-26
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