Annual report pursuant to Section 13 and 15(d)

LICENSE AGREEMENT WITH UNIVERSITY OF ALBERTA

v3.22.4
LICENSE AGREEMENT WITH UNIVERSITY OF ALBERTA
12 Months Ended
Dec. 31, 2022
License Agreement With University Of Alberta  
LICENSE AGREEMENT WITH UNIVERSITY OF ALBERTA

NOTE 12 – 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 December 31, 2022, other than the upfront fee, no milestone payments have been accrued or paid in relation to this agreement.