Lumosa Board Approved the Amendments for the
Exclusive Licensing Agreement for the Veterinary Analgesic
Date of events
2022/05/31
To which item it meets
paragraph 10
Statement
1.Date of amendment to the contract or commitment:2022/05/31
2.Counterparty of the contract or commitment:Skyline Vet Pharma, Inc.
3.Relationship with the Company:not applicable
4.Reason for amendment:Adjust consideration of veterinary analgesic.
5.Content amended:
(1)On June 10, 2021, Lumosa Board approved the amendments of an Exclusive
Licensing Agreement on the long-acting analgesic injection for animal
with Skyline Vet Pharma (SVP), and the worldwide right was granted to
SVP.
(2)To accelerate the process of building a global market presence for the
veterinary analgesic and realizing licensing revenue, the amended
agreement allowed SVP to be responsible for the global supply of the
veterinary analgesic, so the upfront and milestone payment are decreased
to USD 900,000 from USD 1,000,000, and sharing from SVP's sublicensing
revenue and royalties revenue are adjusted.
6.Effect on the Company's finances or business:
This matter has positive long-term and short-term effect on
the company's operations.
7.Any other matters that need to be specified:
(1)SVP is a veterinary pharmaceutical development company located in the
United States that is engaged in the research, development and marketing
of veterinary pharmaceutical products.
(2)The specific information regarding the milestones, sharing ratio from
SVP'sublicensing revenue and royalties revenue are regarded as
confidential according to the non-disclosure agreement between both
parties.
The revenue contributed by this agreement in the future will be disclosed
monthly on the Public Information Observatory website or be released in
the audited or reviewed financial reports.
(3)Taiwan Ministry of Science and Technology and National Defense Medical
Center licensed the exclusive development and commercialization rights
and relevant technologies of LT1001 to Lumosa. In turn, Lumosa shall pay
20% of considerations from sublicense fee to the licensor.
(4)New drug development requires long process, vast investments and with no
guarantee in success which may pose investment risks.
The investors are advised to exercise caution and conduct thorough
evaluation.
Attachments
Original Link
Original Document
Permalink
Disclaimer
Lumosa Therapeutics Co. Ltd. published this content on 31 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 May 2022 08:19:04 UTC.
LUMOSA THERAPEUTICS CO., LTD. is a Taiwan-based company principally engaged in the development of new drugs. The Company is engaged in the development of new drugs for unmet medical needs in the fields of central nervous system (CNS), oncology, and inflammatory diseases. The Company is engaged in scientific licensing and new drug development under the reSEARCH and DEVELOPMENT model.
LUMOSA THERAPEUTICS CO., LTD. 
