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Posted On: 01/05/2021 9:04:24 PM
Post# of 36568
Generex/Olaregen didn’t buy Excellagen at all as a mutual entity. Olaregen was formed and bought Excellagen before any relationship with Generex for $4+ million. Generex doesn’t owe CRXM anything.
Generex filing:
Olaregen Therapeutix Inc. acquired the intellectual properties and global rights of Excellagen except in China, Russia and CIS, from Taxus Cardium, Inc., and its wholly owned subsidiaries Activation Therapeutics, Inc. and Gene Biotherapeutics, Inc.
In August 2018, Olaregen acquired the IP for total consideration is $4,200,000, broken down as follows: 1) $650,000 upfront payment, 2) $200,000 sales credit for collagen solution, and 3) $3,350,000 payable at 10% of net sales, which is defined as total sales less allowances, including hub fees, sales concessions, co-promote fees, cost of goods sold and other charges.
Generex filing:
Olaregen Therapeutix Inc. acquired the intellectual properties and global rights of Excellagen except in China, Russia and CIS, from Taxus Cardium, Inc., and its wholly owned subsidiaries Activation Therapeutics, Inc. and Gene Biotherapeutics, Inc.
In August 2018, Olaregen acquired the IP for total consideration is $4,200,000, broken down as follows: 1) $650,000 upfront payment, 2) $200,000 sales credit for collagen solution, and 3) $3,350,000 payable at 10% of net sales, which is defined as total sales less allowances, including hub fees, sales concessions, co-promote fees, cost of goods sold and other charges.
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