Pulmatrix (NASDAQ:PULM) has entered into a Collaboration and License Agreement with privately held, Sensory Cloud, Inc.
Under the terms of the agreement, Pulmatrix will
out-license intellectual property of NasoCalm (PUR 003 and PUR 006) for
worldwide distribution, commercialization and marketing with escalating
royalties of 7% in 2020, 14% in 2021 and 17% over the remaining life of
the agreement.
The Licensed Products include OTC nasal delivery
to potentially reduce the pathogenic risk and transmissibility of
contagions, including with respect to COVID-19.
Pulmatrix has the right to terminate the Agreement
in the event that Sensory Cloud fails to meet certain milestones
related to the nasal prophylactic and anti-contagion product.
In addition, PULM shall be entitled to receive a
milestone payment of $1M following the achievement of aggregate net
sales of all Licensed Products of $20M.
https://seekingalpha.com/news/3561274-pulmatrixplus-6-premarket-on-nasocalm-deal-for-covidminus-19
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