More from the 8k. Interesting that Joe thought could be a chance it is more lucrative to keep 20% of the equity of the Joint Entity vs. $2/dose:
1. Licensing Fee: $5,000,000 (Five Million USD) upfront fee due upon the execution of the Agreement; and then upon a successfully approved Vaccine, and an additional $20,000,000 (Twenty Million USD) from the net profits from the Joint Entity.
2. Royalty Fee: Once the Vaccine comes on to market for the first commercial sale, then the Joint Entity shall:
a. Offer Generex 20% of the equity interests in the Joint Entity; or
b. Cash payments to Generex in a price equal to US$2.00 per dose for the COVID-19 vaccine.
The next line is interesting as well, implying maybe China is interested in rights outside of China:
"The Joint Entity shall have the perpetual sole and exclusive license to use the Generex technology within Licensed Territory. Generex shall negotiate separately with the Joint Entity with respect to the sale of such technology in other countries outside the Licensed Territory."
1. Licensing Fee: $5,000,000 (Five Million USD) upfront fee due upon the execution of the Agreement; and then upon a successfully approved Vaccine, and an additional $20,000,000 (Twenty Million USD) from the net profits from the Joint Entity.
2. Royalty Fee: Once the Vaccine comes on to market for the first commercial sale, then the Joint Entity shall:
a. Offer Generex 20% of the equity interests in the Joint Entity; or
b. Cash payments to Generex in a price equal to US$2.00 per dose for the COVID-19 vaccine.
The next line is interesting as well, implying maybe China is interested in rights outside of China:
"The Joint Entity shall have the perpetual sole and exclusive license to use the Generex technology within Licensed Territory. Generex shall negotiate separately with the Joint Entity with respect to the sale of such technology in other countries outside the Licensed Territory."
