Hey There,
The evolution of a pure royalty company starts with the discovery of a resource , whether it be a natural resource, intellectual property or.......! The company develops the resource for marketing and sales or leasing etc. etc. At some point in the future when demand exceeds the discovery company's ability to scale, a much larger, fully integrated company will buy the discovery company and part of the acquisition cost is a royalty or percentage of each "unit" sold that is retained by the selling company. In the case of Northwest, the company could sell DCVax-l for cash and a royalty on all future sales, both as a single treatment and in combination. For all other large tumor cancers, the company would simply sell the rights to manufacture, market and sell the vaccines and retain a royalty as before. This strategy eliminates the waste of redundancy, reduces the costs to patients from the economies of scale and the entire healthcare world ends up with the "winning ticket" !!!
AND EVERYONE GETS TO STAY IN THE GAME AND SHARE IN FUTURE PROFITS!!!
Very sweet deal!!!
Cheers,
BB