I have never seen a contingent rights deal pay out its max amount. Delays happen, intentionally or otherwise, and when milestones are met they are often not met by the various contingent deadlines -- allowing the acquiring company to have its cake and eat it, too.
My fear for Anavex is this type of partnership. I'd prefer to see us grow the company and partner by offering a percentage of profit in exchange for manufacturing, marketing and distribution pathways.