See Revenue projections below. It appears these dont include...

See Revenue projections below. It appears these dont include Roche milestone payments which I am guessing are commercial in confidence.

RB Milestone Report Aug 2010

Basis for Revenue Projections
The key assumptions made in forecasting revenues are as follows:
 Phylogica is expected to apply for academic equipment grants that will be worth in
excess of $1 million in FY2010, while applying for a similar or significantly higher grant
in FY2011. The Company is expected to directly purchase capital items of up to a value
of $250,000 during the next fiscal year
 For the period FY2010-2011, the Company is expected to receive Contract Research
Payments as follows:
Exhibit 4: Future Contract Research Payments
Estimates of Contract Research Payments (in US$) 2010E 2011E
Upfront Payments 700,000 1,200,000
Milestone Payments 1,000,000 1,000,000
Preclinical Licenses (CD40 ligand) - 5,000,000
Preclinical Licenses (Antimicrobial) - -
Source: Company, RB Milestone Research
6
Phylogica Limited
 The Company has recently announced its collaboration with MedImmune to evaluate
Phylogicas proprietary Phylomer peptide. Under the terms of the agreement,
Phylogica will receive an upfront payment of US$750,000 and an additional
US$750,000 in committed research funding for an initial 12-month term. In addition,
Phylogica is eligible to receive development, regulatory and commercial milestone
payments of up to US$98 million, in addition to royalties on potential worldwide sales
library for novel antimicrobial peptides
 We have assumed that Phylogica would receive the initial US$1.5 million as upfront
payment from MedImmune during FY2011. We have estimated the additional
commercial milestone payments of up to US$98 million in the period FY2012-2019
Collaboration with MedImmune (AstraZeneca)
Exhibit 5: Future Contract Research Payments from MedImmune
Estimates of Contract Research
Payments (in US$) 2011E 2012E 2013E 2014E 2015E
Upfront Payments 750,000
Milestone Payments 750,000 12,250,000 12,250,000 12,250,000 12,250,
They have runs on the board