Radient Pharmaceuticals Corporation fka RXPC

[Gold Seeker]

"3.1.1 The total fee for UNI’s five year Onko-Sure DR-70 license is five hundred thousand dollars ($500,000) USD to be paid out annually as per Paragraph 1.2 in Exhibit B below. UNI shall pay up-front (the “Up-Front License Fee) one hundred thousand dollars ($100,000) to RXPC in two installments: twenty thousand USD ($20,000) will be wired upon co-signing of the License Agreement with the remaining eighty thousand ($80,000) to be wired to RXPC after tech transfer training and commercial-scale trial-run production for Onko-Sure (DR-70) from RXPC. This License Agreement will become effective upon receipt of the up-front license fee to RXPC."

From the above agreement, you could probably only assume that Radient has gotten the initial $20,000. Once the technology is transferred, you could also assume that UNI probably will not even pay the remaining $80,000. Also in the agreement, there are no royalty payments after the current remaining patent expires on June 3, 2014.


What can radient do if UNI does not pay the remaining $80,000? Do you really think any lawyer would take a case suing a Chinese company in Asia who has no assets in the USA?

Look carefully at the term and termination below. There is Zero motivation for UNI to continue any patent application. Radient will get no further money from UNI and the agreement will be cancelled June 3 of this year. UNI has the technology and know how and that is all they ever needed.


"Term and Termination

11.1 This Agreement shall become effective upon the date of signing by both Parties and continue in effect until the earlier to occur of: (i) expiration of the last patent issued to RXPC for the Licensed Products, (ii) when UNI terminates this Agreement by discontinuing the offering of the Licensed Products or the sublicense to do the same.