Zoli and Luis, From page 2 of the 11/18 PR anno
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Posted On: 01/17/2021 4:10:26 PM
Re: Zolis_onkel #25517
Zoli and Luis,
From page 2 of the 11/18 PR announcing the China framework:
"Upon payment of the $5,000,000 (Five Million USD) licensing fee, the Joint entity will obtain a right of first refusal for the Ii-Key vaccine technology for oncology, infectious disease and autoimmune diseases for a license fee of $50,000,000 (Fifty Million USD)."
There is a similar clause in the Bintai deal for $10MM, I believe.
So those 2 plus the $5MM true up-front from China would make up the $65MM Joe is referencing, IMO.
So if Joe's confidence in the vaccine is born out with the data, this money would be due to NGIOs joint entity if the Chinese decide to make use of the vaccine and exercise this first right of refusal. If they choose not to exercise that right (and pass on paying the $50MM), then Joe could offer the vaccine to any takers and renegotiate terms with the new parties.
From page 2 of the 11/18 PR announcing the China framework:
"Upon payment of the $5,000,000 (Five Million USD) licensing fee, the Joint entity will obtain a right of first refusal for the Ii-Key vaccine technology for oncology, infectious disease and autoimmune diseases for a license fee of $50,000,000 (Fifty Million USD)."
There is a similar clause in the Bintai deal for $10MM, I believe.
So those 2 plus the $5MM true up-front from China would make up the $65MM Joe is referencing, IMO.
So if Joe's confidence in the vaccine is born out with the data, this money would be due to NGIOs joint entity if the Chinese decide to make use of the vaccine and exercise this first right of refusal. If they choose not to exercise that right (and pass on paying the $50MM), then Joe could offer the vaccine to any takers and renegotiate terms with the new parties.
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