Sunshine Biopharma said it has acquired for about $12.8 million all ex-U.S. patents related to its lead anticancer compound from Advanomics.
The company acquired U.S. patent 8,236,935 for Adva-27a in October for a total $4.32 million—12 consecutive annual payments of $360,000—from Advanomics, which at the time owned approximately 23% of Sunshine's issued and outstanding common stock. Sunshine had licensed the U.S. patent from Advanomics for an annual fee of $360,000, plus reimbursement of Advanomics’ R&D expenses, under an agreement that was ended once the U.S. patent changed hands.
In the latest transaction, disclosed yesterday, Sunshine agreed to pay $12,822,499 for remaining rights, title and interest in and to all worldwide patents for Adva-27a (Patent Numbers PCT/FR2007/000697 and PCT/CA2014/000029).
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