GTC Biotherapeutics (fka GTCB)

[DewDiligence]

>MAXY – it's not a $90 million dollar up-front payment. it's a purchase with a backended $30 mm milestone possibility. big difference.<

It’s essentially the same thing: Bayer licensed the worldwide rights to Maxy-VII for $90M up-front and the possibility of $30M later. The main difference between this deal and a typical biotech licensing deal is: i) there is no royalty on sales; and ii) Bayer gets a non-exclusive license to the technology platform that MAXY used to create Maxy-VII so that Bayer can use the platform to develop other FoB compounds without MAXY’s help.