Thank you for the question.
I would put some nuance in. When there was collaboration between big pharma and the research teams we worked with at IRICoR, there was initial recognition of the value of the research we developed together. When we're talking about dollars, there are some initial upfront licence fees the companies pay.
The other thing I would point out is that there's joint IP developed between the research teams within the pharma companies and research teams. This joint IP is recognized through payments made throughout the development of the projects, when there's development made by companies based in the U.S. or in Europe—that is, be they within Canada or outside. There are constant financial returns for our public sector in Canada, in return for those collaborative projects.
I think, with a model like ours, that's the reality. We see, for example, that the Canadian market for pharma companies is quite small, so, for sure, they launch their products outside Canada. However, this portion of innovation is crucial. With this model, we've demonstrated we can have significant returns for the country on innovations we developed.
I would add, as well, that there are some royalty payments made to the institutions and the public organizations in return for the market introduction of innovations made in Canada. Those are all the tangible returns we have.
I would add even more with regard to, as I mentioned, savoir faire. When there is collaboration between the research teams in academia and those in big pharma companies, all of that knowledge is invaluable for the next projects coming out of our academic institutions in Canada, which can benefit from this know-how, going forward, and create new IP coming out of Canada.