Half, examine this section carefully. Note that is says a fee of * (that fee is singular), Then after the deleted area, it says "fees", meaning that what ever was deleted was more than one fee. Dr. Moro told me it as a million. Notice in the definitions, "new patent" was defined in section 0, the renamened compensation section. What I suspect was deleted was the reference to compensation for a new patent and that was obtained in Dr. Moro's trip to Munich. I would guess the second part of the up front followed with the approval of the European patent. Anyway you count it, the million was about 4 times what was received from Abbott so it was quite a success for Dr. Moro and in addition, he got it early to meet expenses.
<<1.16 "New Patent" shall have the meaning set forth in Section 0.>>
<<License fee. As consideration for the license granted by this Agreement, and for BioCurex's agreement to the other terms and conditions hereof, Inverness shall pay to BioCurex a fee of *. Any such fees submitted pursuant to this Section 4.1 shall be non-refundable and non-creditable toward future royalty obligations.>>
Even at this point, things were going pretty well for BioCurex in spite of the looming loan from Smithline. If he could only nail that third licensee. Then, the Abbott amendment occurred. BTW, Abbott appears to have dumped Macro Arrays PCADM-1 urine test. It is on Macro Arrays website looking for a partner and money to take it into trials. The specificity is only about 78% in the studies I have read. Their website could just be old and not updated for nearly two years but I sort of doubt that. It is a private company so sources are limited.
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