Biotech Values

[DewDiligence]

MNTA monetizes SHPG’s Humira-FoB obligations for $51.2M:

https://www.sec.gov/Archives/edgar/data/1235010/000110465917000030/a16-23900_28k.htm

On December 31, 2016, the Company and Baxalta entered into an Asset Return and Termination Agreement…amending certain terms of the Original Agreement relating to the termination of the Original Agreement… Baxalta is not obligated to continue to perform development, manufacturing or commercialization activities for M923 after the New Effective Date except for certain clinical and regulatory activities that are expected to be completed by April 2017…

In order to fund the other activities that Baxalta was required to perform under the Original Agreement through the Original Effective Date, Baxalta is obligated to pay the Company a one-time cash payment of $51.2 million within 10 business days of the New Effective Date.

The Company is obligated to pay to Baxalta a royalty of 5% of net sales...until Baxalta’s development expenses and commercialization costs…incurred through the New Effective Date, plus those incurred in providing the Transition Services and plus the Upfront Payment, are reimbursed.

Note: Baxalta is now part of SHPG.