On December 22, 2010 , Momenta Pharmaceuticals, Inc. (the “Company”) entered into a letter agreement (the “Letter Agreement”) with the Massachusetts Institute of Technology (“MIT”) relating to the Amended and Restated Exclusive Patent License Agreement, dated November 1, 2002, by and between MIT and the Company, as amended (collectively, the “MIT License Agreement”), pursuant to which the Company licenses certain intellectual property from MIT and, in addition to other obligations, has agreed to pay MIT (i) a percentage of certain income received by the Company from corporate partners and sublicensees and (ii) royalties for certain drug products that are developed using such intellectual property and that constitute Licensed Products (as such term is defined in the MIT License Agreement).
The Company has used intellectual property licensed from MIT in its enoxaparin program. The Company developed enoxaparin under its Collaboration and License Agreement (the “Sandoz Agreement”) entered into with Sandoz AG and Sandoz Inc. in November 2003 (“Sandoz”). Under the Letter Agreement, the Company has agreed to pay MIT a percentage of the amount received by the Company from Sandoz under the Sandoz Agreement with respect to sales of the enoxoparin sodium injection product that received FDA marketing approval in July 2010. The foregoing description of the Letter Agreement is qualified in its entirety by the full text of the Letter Agreement, a copy of which is filed herewith as Exhibit 10.1 and is incorporated herein by reference.
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