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Posted On: 02/23/2022 9:32:30 AM
Post# of 6903
$NBIO VERO BEACH, FL / ACCESSWIRE / February 23, 2022 / Nascent Biotech, Inc. (OTCQB:NBIO) ("Nascent Biotech", "Nascent", or the "Company"
, a clinical-stage biotechnology Company pioneering the development of monoclonal antibodies targeting treatment of various cancers and viral infections, is pleased to announce that the Company has received a payment totaling USD $750,000 from BioRay Pharmaceutical, Ltd. ("BioRay" in association with the Licensing Agreement established between the two companies in May 2021. This payment represents the Second Payment stipulated in the Licensing Agreement (the "Agreement".
The Agreement grants to BioRay exclusive rights to commercialize Nascent's monoclonal antibody, Pritumumab, in international markets, excluding North America and Central America. Under terms of the Agreement, Nascent will receive a total of USD $5,000,000 to be paid out at various stipulated milestones. The initial payment of USD $1,000,000 was received by Nascent on April 20, 2021.
, a clinical-stage biotechnology Company pioneering the development of monoclonal antibodies targeting treatment of various cancers and viral infections, is pleased to announce that the Company has received a payment totaling USD $750,000 from BioRay Pharmaceutical, Ltd. ("BioRay" in association with the Licensing Agreement established between the two companies in May 2021. This payment represents the Second Payment stipulated in the Licensing Agreement (the "Agreement". The Agreement grants to BioRay exclusive rights to commercialize Nascent's monoclonal antibody, Pritumumab, in international markets, excluding North America and Central America. Under terms of the Agreement, Nascent will receive a total of USD $5,000,000 to be paid out at various stipulated milestones. The initial payment of USD $1,000,000 was received by Nascent on April 20, 2021.
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