Brief: Cosmo Pharmaceuticals Sub-Licenses Its ByFavo US Rights To Acacia Pharma

Cosmo NV

10/01/2020 06:08

Jan 10 (Reuters) - COSMO PHARMACEUTICALS NV  COPN.S :
    * SUB-LICENSES ITS BYFAVO(TM) (REMIMAZOLAM) US RIGHTS TO
ACACIA
PHARMA, TAKES AN INITIAL 14.1% STAKE AND PROVIDES FINANCE FOR
ACACIA PHARMA'S US EXPANSION
    * AT SIGNING WILL RECEIVE A EUR 10 MILLION UPFRONT PAYMENT
IN
ACACIA PHARMA SHARES AND WILL MAKE A EUR 10 MILLION INVESTMENT
IN ACACIA PHARMA SHARES
    * WILL FURTHER RECEIVE EUR 20 MILLION IN ACACIA PHARMA
SHARES AT
BYFAVO(TM) APPROVAL AND FIRST SALES, THUS INCREASING ITS STAKE,
PLUS UP TO USD 105 MILLION IN COMMERCIAL BYFAVO(TM) MILESTONES
AND SAME ROYALTIES COSMO OWES TO PAION
    * WILL ALSO GRANT A FIRST LOAN OF EUR 10 MILLION UPON
APPROVAL OF
BARHEMSYS(R) AND A SECOND LOAN OF EUR 25 MILLION UPON APPROVAL
OF BYFAVO AT MARKET TERMS

Source text for Eikon:  ID:nTENf4dswa 
Further company coverage:  COPN.S 

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