ONCOLOGY PHARMA DEALS
Regen BioPharma signed two deals with Oncology Pharma. One is between Oncology and Regen for treating pancreatic cancer. The second is between Regen’s wholly-owned subsidiary KCL Therapeutics, Inc and Oncology for the treatment of colon cancer.
As consideration to Regen for the rights and license granted pursuant to the Agreement Oncology Pharma shall:
(a) pay to Regen a nonrefundable fee of $55,000 no later than April 20,2021
(b) pay to Regen royalties equal to five percent (5%) of the Net Sales as Net Sales are defined in the Agreement of any Licensed Products in a quarter.
(c) pay to Regen ten percent (10%) of all consideration (in the case of in-kind consideration, at fair market value as monetary consideration) received by Licensee from sublicensees, excluding royalties from sublicensees based on Net Sales of any Licensed Products for which Regen receives payment
As consideration to KCL Therapeutics for the rights and license granted pursuant to the Agreement Oncology Pharma shall:
(a) pay to KCL a nonrefundable fee of Fifty Thousand common shares of Oncology Pharma, Inc. no later than April 20,2021
(b) pay to KCL royalties equal to five percent (5%) of the Net Sales as Net Sales are defined in the Agreement of any Licensed Products in a quarter.
(c) pay to KCL ten percent (10%) of all consideration (in the case of in-kind consideration, at fair market value as monetary consideration) received by Licensee from sublicensees, excluding royalties from sublicensees based on Net Sales of any Licensed Products for which KCL receives payment
The 50,000 shares of Oncology Pharma are currently worth $1,700,000.
