Biotech Values

[DewDiligence]

SRPT, BMRN settle IP litigation:

https://globenewswire.com/news-release/2017/07/18/1047849/0/en/Sarepta-Therapeutics-and-BioMarin-Pharmaceutical-Inc-Announce-Execution-of-a-Global-Settlement-and-a-License-Agreement-Resolving-Exon-Skipping-Patent-Litigation.html

Under the terms of the license and settlement agreements, Sarepta will make a one-time payment of $35 million to BioMarin and certain additional regulatory and commercial milestone payments for exons 51, 45, 53 and possibly on future exon-skipping products.

In addition, Sarepta will pay royalties to BioMarin as follows:

• Exon-skipping compounds 51, 45, and 53 and possibly on future exon-skipping products: Sarepta will pay BioMarin 5 percent of net sales through the end of 2023 in the United States; and

• Exon-skipping compounds 51, 45, and 53 and possibly on future exon-skipping products: Sarepta will pay BioMarin 8 percent of net sales through September 30, 2024 in the European Union and in other countries where certain BioMarin / AZL patents exist.