some info on the difference between partnering and

some info on the difference between partnering and out-licensing:

"In technology partnering, your partner absorbs all the financial risk — your upfront technology licensing fee, fee-for-service revenue and near-term preclinical milestone payments are earned irrespective of whether the project eventually results in an approved pharmaceutical product. And while your partner will own any pharmaceutical assets and marketing authorizations that emerge from the project, you can typically earn small single-digit royalties on future sales of the marketed products."

"A key advantage of out-licensing compared to technology partnering is the higher return on investment if successful. Once each asset is out-licensed, you will reap a hefty upfront fee, substantial milestone payments on completing specified clinical stages and regulatory approval, and significant double-digit royalties on future product sales. Furthermore, you leverage your partner’s late-stage development and commercial expertise, while transferring the cost and risk for these much more expensive stages to that partner. With appropriately negotiated deal terms, the upfront fee alone can recover most of your initial cash outlay for the asset, and the milestone payments can ensure a small positive return even if the subsequent commercial performance is not to expectations."

https://www.labiotech.eu/features/young-biote...ess-models