Annual report pursuant to Section 13 and 15(d)

LICENSE AGREEMENT WITH INSERM

v3.22.0.1
LICENSE AGREEMENT WITH INSERM
12 Months Ended
Dec. 31, 2021
License Agreement With Inserm  
LICENSE AGREEMENT WITH INSERM

NOTE 11 – LICENSE AGREEMENT WITH INSERM

 

On February 11, 2021, the Company entered into a license agreement (the “Inserm License Agreement”) pursuant to which it licensed technology using oxytocin-based therapeutics for the treatment of Prader-Willi syndrome and non-organic failure to thrive disease from Inserm (the French National Institute of Health and Medical Research), Aix-Marseille Université and Centre Hospitalier Universitaire of Toulouse. The Inserm License Agreement provides for the payment of annual fees and milestone payments upon the occurrence of specified sales milestones totaling approximately $0.4 million, as well royalties on net sales of products based on the licensed technology, and assignment/transfer and sublicense royalties.

 

As of December 31, 2021, no milestone payments have been accrued or paid in relation to this agreement.