Thursday, July 14, 2016 9:01:07 AM
Under the terms of the agreement, Oxis will pay MultiCell a license fee of $500K, up to $12.75M in clinical development milestones and a royalty of 3% on net sales. Oxis will also reimburse MultiCell up to $1.125M in development costs. MultiCell grants Oxis an option to purchase manufacturing rights to the three ADCs upon the payment of an additional $10M.
MultiCell retains all rights to its ADC platform for all indications and is free to pursue its own drug development programs and to partner with other firms.
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