My view is that a deal will be done with Acadia on ROW. If they don't Acadia is going to do all the heavy lifting and Neuren has rights to use the data generated for ROW licencing.
I am sure like the last deal Acadia want to back end payments to manage risk, but I think Treagus knows the market expects much better skin in the game upfront. It will get sorted out. If they can't then maybe Acadia buys an extended exclusivity period. I can't see them letting this go.
ROW Rights, page-154
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