|From: efbailey (Rep: 1756) reply to HARLUM||Date: 02/18/2020 13:28|
|Forum: Wall Street Pit - Msg #2816638 - List FWP msgs ||Thread #674121392 (Rec: 0) |
|Re: sorry been out all morning, Sept 2017 filing says they were paid that in Feb 2017 but could be due royalties beginning Jan 2021|
i was reposting Zacks comments but read filings over the weekend.
page 9 https://www.otcmarkets.com/filing/html?id=12295214&guid=znJCUFpuF-7Dz3h
In accordance with the License Agreement, Biogen paid the Company a non-refundable fee of $1.25 billion (“Non-refundable Fee”) in February 2017, and could be obligated to pay the Company royalties in the future subject to the outcome of certain matters discussed below.
If the Company is successful in the Interference Proceeding (i.e., the Company obtains, as a result of the Interference Proceeding and any appeals therefrom to the Federal Circuit (including en banc review), a patent with a claim covering oral treatment of MS with 480 mg per day of DMF), and if Biogen obtains an exclusive license in the United States, the Company may be eligible beginning on January 1, 2021 to collect a 10% royalty (increasing to 20% from January 1, 2029) until the earlier of the expiration or invalidation of the patents defined in the License Agreement, on Biogen’s net sales in the United States of DMF-containing products indicated for treating MS that, but for the rights granted under the License Agreement, would infringe a Company patent, provided that other conditions of the License Agreement are satisfied. Among the conditions that needs to be satisfied for any royalty to be payable by Biogen to the Company is the absence of generic entry having a particular impact as defined in the License Agreement. If Biogen obtains an exclusive license in the United States, the Group would likely permanently discontinue development of a DMF Formulation.
anyone ever figure out if FWP is owed $1.25 bil after BIIB wins over MYL?
| Reply to HARLUM - Msg #2816608 - 02/18/2020 11:47|
Re: anyone ever figure out if FWP is owed $1.25 bil after BIIB wins over MYL?
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