That calculates to $2.25 billion, which is not unheard of except for Inovio needs to really get to a Phase III to pin that tent flap down. Shire recently bought Premacure (privately held company in Sweden) and their licensed Rx for retinopathy of prematurity using Iplex because it guarantees a huge world market for ROP, infant pulmonary dystrophy and getting premies out of Premie ICU about two months early. Simple IV administration of IGF-1/BP-3 in literally microgram amounts. The buyout has milestones but the doctors from Sweden had all of Europe behind this clinical trial and Sweden actually allocated 54 million Krona to support a collaborative manufacturing program before the buyout. I could not find the $$ amount, but the important point is that the clinical trial was still "Recruiting" in Phase IIb. If they can get the Iplex made successfully, the annual market is multi-$billion. The original IP came from INSM which sold all future royalties for $11.5 million. Go figure. But this buyout for the IP and pipeline could be fairly accurate.