The launch of the $MYL/ $RVNC Botox-biosimilar program makes it crystal clear that both companies consider $RVNC's RT002 to be well differentiated from Botox. https://t.co/L72NdtJkl5
RVNC receives a $5M* non-refundable cash payment from MYL immediately as compensation for allowing MYL until 4/30/20 to decide whether to opt in on the Botox-biosimilar program. (4/30/20 should be after MYL closes its deal with PFE on the Upjohn-related merger.)
The amended RVNC-MYL agreement retains in full RVNC's potential $100M in clinical/regularatory milestones and $225M in sales milestones (#msg-138921254).
*In addition to the $25M up-front payment RVNC received in early 2018.