Brief: Omega Therapeutics Entered Into A Collaboration And License Agreement With Nitto Denko Corp

Omega Liquidating

12/10/2022 12:33

Oct 12 (Reuters) - Omega Therapeutics Inc  OMGA.O :
    * OMEGA THERAPEUTICS INC SAYS CO ENTERED INTO A
COLLABORATION AND
LICENSE AGREEMENT WITH NITTO DENKO CORPORATION
    * UNDER TERMS OF AGREEMENT, CO AGREED TO PAY NITTO UPFRONT
CASH
PAYMENT OF $1.0 MILLION
    * CO REQUIRED TO MAKE UP TO $84.0 MILLION IN FUTURE PAYMENTS
TO
NITTO BASED UPON ACHIEVEMENT OF SPECIFIED MILESTONES
    * CO TO PAY TO NITTO TIERED, SINGLE-DIGIT PERCENTAGE
ROYALTIES ON
COUNTRY-BY-COUNTRY BASIS BASED ON NET SALES OF LICENSED PRODUCT
    * CO, NITTO TO JOINTLY RESEARCH, DEVELOP LICENSED PRODUCT
FOR ALL
HUMAN THERAPEUTIC, PALLIATIVE AND/OR PROPHYLACTIC APPLICATIONS
    * OCOMPANY WILL BEAR ALL REASONABLE COSTS INCURRED BY NITTO
IN THE
JOINT DEVELOPMENT PLAN

Source text: [https://bit.ly/3evPVLr]
Further company coverage:  OMGA.O 
 (Reporting by Sourasis  Bose)
 ((Sourasis.Bose@thomsonreuters.com;))