I did read page 15. No payments other than the initial licensing fee, which in my opinion was used to pay the non-performance penalty for the stent. MCIT must actually do something in order to get any payment. There has been no payment made.
No retraction, how about you retract all your misleading statements?
I didn't think so.
OXIS down 4%, clearly not an impressive PR.
Oxis International, (OXIS)
0.1775 ? -0.0075 (-4.05%)
Volume: 13,871 @ 11:04:51 AM ET
Bid Ask Day's Range
0.178 0.19 0.175 - 0.185
Also note this has nothing to do with OX-1550.
"MultiCell Immunotherapeutics, Inc. (MCIT) License Agreement. Oxis licensed exclusive rights to three antibody-drug conjugates ( ADCs) that MCIT will prepare for further evaluation by Oxis as prospective therapeutics for the treatment of triple-negative breast cancer, and multiple myeloma and associated osteolytic bone disease. Under the terms of the agreement, MCIT will develop three ADC product candidates which contain Oxis' lead drug candidates OXS-2175 and OXS-4235. Oxis paid MCIT a license fee of $500,000 and will reimburse MCIT up to $1.125 million for its development costs to make the three ADCs exclusively licensed to Oxis. Assuming all clinical development milestones are achieved and manufacturing rights to the three ADCs purchased, Oxis will pay MCIT an additional sum of $22.75 million and pay a royalty of 3% of net yearly worldwide sales upon marketing approval of the ADCs.
MCIT's ADC platform technology is based on unique multivalent, cleavable linkers that allow drugs tethered to the antibody to be released intracellularly or extracellularly upon binding of the antibody to the target cell. Additionally, the MCIT's ADC technology platform allows multiple drugs to be attached per targeting antibody, and to release the drugs in their original form without modification of the drug."
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