Hi DMAIts OK, don't worry.1% of 7% is actually 14.3% of incoming...

Hi DMA

Its OK, don't worry.


1% of 7% is actually 14.3% of incoming royalty. Biota got about 30+ million from GSK this year, so this means that CSIRO and VCP is entitled to 4.9 million.

The agreement is confidential, so part of this goes into equity and I suppose a part will be in cash to fund further R&D. If the royalty hits another higher target, CSIRO and VCP will get another cash injection for R&D.

The ligitation would be messy if Biota goes and argue just for Biota. By bringing it all under one umbrella, it is easier to manage.

DMA, everyone will be happy.

For the $13.4 million, I think that is a part year amount as the GSK financial cycle is different from Biota's financial cycle by 6 months.


Cheers