To further clarify. 20% is the royalty we may get if we partner...

To further clarify. 20% is the royalty we may get if we partner up. So if IPPS does $100 of sales in a year then we would get $20 and the large Pharma gets $80. What? How is that fair? We get an overnight massive distribution channel without having to spend a single cent on salaries, sales reps, local offices, advertising, follow up, reps at conferences, travel, etc. The Big Pharma already are in the doc's ears and will promote it instantaneously and at scale that we couldn't. It would take us literally years to build up these channels on our own.

The other advantage is that we get upfront and milestone payments and it should be to the tune of a Billion Plus USD, perhaps a lot more.

20% royalty might turn out to be slightly conservative or realistic...I use 15% in my calculations generally...but you could argue for something slightly higher...will depend a lot on the details of the contract and the jurisdiction(s) it applies to and mechanics of deal. The Bio Economist will also help to value this for PAR at last in terms of some of the ground work and our value.