Lock - re. timing of this. Perhaps the un-named (but correctly identified on this board!) large Pharma requested that the licensing deal was made perpetual in order to protect access to the technology in the future. i.e. avoid the situation where they spend tens of millions of pounds on research and development in Neurology (say) only to find that they then have to deal with a large, more competitive peer when it comes to commercialising the technology-based product (following some corporate activity for OXB).
Perhaps.
Regarding the geographical interpretations, remember, if the technology was being used in a particular project or in a specific TA/CEDD then the initial license could probably be limited to that geography. As the drug moves through the lifecycle, any limitations on geographic license would become impractical.
I am pretty sure I know (one of) the projects where this technology is being used - and have to say that it surprised me initially.
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