LICENSE AGREEMENT WITH UNIVERSITY OF ALBERTA
|3 Months Ended
Mar. 31, 2023
|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 March 31, 2023, other than the upfront fee, no milestone payments have been accrued or paid in relation to this agreement.