Quarterly report pursuant to Section 13 or 15(d)

LICENSE AGREEMENT WITH UNIVERSITY OF ALBERTA

v3.23.3
LICENSE AGREEMENT WITH UNIVERSITY OF ALBERTA
9 Months Ended
Sep. 30, 2023
License Agreement With University Of Alberta  
LICENSE AGREEMENT WITH UNIVERSITY OF ALBERTA

NOTE 13 – LICENSE AGREEMENT WITH UNIVERSITY OF ALBERTA

 

On May 18, 2022, the Company entered into an exclusive License Agreement with the University of Alberta focused on identifying and testing broad-spectrum antiviral drugs against future variants of SARS-CoV-2 and other emerging viruses. As consideration for entering into the License Agreement, Tonix paid a low-five digit license fee to University of Alberta. The License Agreement also provides for single-digit royalties and contingent milestone payments. As of September 30, 2023, other than the upfront fee, no milestone payments have been accrued or paid in relation to this agreement.