Kurt Gustafson : I guess the only thing I would add is, in general, we don’t really need to prioritize these things, right? Because that would be, maybe what you would have to do if you had a capacity issue. And we don’t really have a capacity issue. In many situations, for example, if we talk about work that’s done with the OmniRat, most of those situations, our partners, we’re shipping the rats to them, and they’re doing all of the work. So that business model is almost infinitely scalable for us. And so there’s really not a need to kind of prioritize doing one deal over the other. We’re — this is about sort of signing up as many people as we can and encouraging them to use the technology as much as much as we can.
Unidentified Analyst: Great. And then lastly, just regarding the new J&J tried specific asset, do you dissipate this to be a royalty bearing asset? Or will it have similar deal structures, same with Teclistamab?
Matt Foehr : Yeah, the deal with J&J was struck very early after OmniRat was launched? And actually it was a deal that was signed by a predecessor company that we acquired, O&E. And the way that deal was structured is that upon commercial launch there’s a payment in the U.S. and then a payment in Europe. So it’s simpler than the Teclistamab deal, right? So that’s $35 million in payments for those markets for that asset.
Unidentified Analyst: Great. Thanks for taking the question.
Operator: Thank you. And your next question comes from the line of Joe Pantginis from H.C. Wainwright. Please go ahead.
Joseph Pantginis: Hey, guys, good afternoon. Nice to have your first independent call under your belt here for earnings. So the first question I want to ask is about your underlying BD efforts. So — and your business model. So first, obviously, the numbers that you have, the numbers of partners and number of programs in development almost act as an inherent marketing tool. So I guess, how would you describe your 2023 efforts currently with regard to push and pull, meaning, how much of your current BD is from inbounds versus like the levels of marketing that you had to do?
Matt Foehr : Yeah, thanks, Joe. Your point about it being an inherent marketing tool it couldn’t be more correct. I think we’ve benefited historically by partners, talking about the success they’ve had with our platform at podiums at antibody engineering or protein engineering conferences. And that happens, consistently. We see it. I can think of an example of Amgen recently highlighting their successful use of OmniFlic at one of the antibody conferences just very recently. And that drives a lot of the inbound interest. And the majority of the deals we’ve struck have come from that sort of thing where partners are talking about their success with the platform, and that drives others to understand it. Also the level of clinical validation, I think is important as well.
And now with the number of clinical programs that have been produced by our platform, that creates increased visibility for others who are in the antibody discovery space. One of the things we are focused on and have been more recently is really expanding our business development reach, one to capitalize on that opportunity. We’re actually increasing our attendance at both business development-related, licensing-related, and related conferences this year. We’re partnering with some of our partners for joint presentations, and publications. And we think all of those things position us to really capitalize on the opportunity that’s been built on the innovation and the continued innovation that we’re committed to going forward. So as I said, at any one time we’re always negotiating new license deals, new partnerships, and we’re excited about the way we’re positioned now and the way our team’s managing it.