8k out. Did I read this right? Only $500k up front??
In consideration of the license and other rights granted by the Company, Vyera has agreed to pay the Company, within three business days of the
effective date of the License Agreement, a $0.5 million license issue fee, with additional payments totaling up to approximately $87.0 million to be made
upon the achievement of certain sales and regulatory milestones. Certain milestones are subject to reduction if not achieved within an agreed-upon
timeframe. Vyera may also pay the Company additional potential milestone payments upon the regulatory approval of the Product for certain subsequent
indications in the Field. Whether a particular subsequent indication qualifies for an additional milestone payment shall be determined in good faith by the
parties. In addition, during the Royalty Term (as defined below), Vyera is obligated to pay the Company a royalty equal to 50% of Vyera’s gross profit
margin from Product sales (defined in the License Agreement as “Net Sales”) in the Territory. The royalty is subject to reduction during the Royalty Term
after patent expiry and expiry of regulatory exclusivity. Following expiration of the Royalty Term, Vyera will continue to maintain non-exclusive rights to
commercialize the Product.
https://s3.amazonaws.com/content.stockpr.com/...316857.pdf
In consideration of the license and other rights granted by the Company, Vyera has agreed to pay the Company, within three business days of the
effective date of the License Agreement, a $0.5 million license issue fee, with additional payments totaling up to approximately $87.0 million to be made
upon the achievement of certain sales and regulatory milestones. Certain milestones are subject to reduction if not achieved within an agreed-upon
timeframe. Vyera may also pay the Company additional potential milestone payments upon the regulatory approval of the Product for certain subsequent
indications in the Field. Whether a particular subsequent indication qualifies for an additional milestone payment shall be determined in good faith by the
parties. In addition, during the Royalty Term (as defined below), Vyera is obligated to pay the Company a royalty equal to 50% of Vyera’s gross profit
margin from Product sales (defined in the License Agreement as “Net Sales”) in the Territory. The royalty is subject to reduction during the Royalty Term
after patent expiry and expiry of regulatory exclusivity. Following expiration of the Royalty Term, Vyera will continue to maintain non-exclusive rights to
commercialize the Product.
https://s3.amazonaws.com/content.stockpr.com/...316857.pdf
1
