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IntelGenx Technologies Corp. Message Board

  • alternatepatel alternatepatel Jan 16, 2013 10:31 AM Flag

    milestone payments from RedHill Biopharma Isarael

    i can't understand why the company is hiding good info from investors...
    Intelgenx is going to receive good amount of cash from RHB.
    here is a portion from RedHill Biopharma's (RHB) recent SEC filing,
    _____________________________

    In consideration for the license, we made up-front and milestone payments in the aggregate amount of $600,000 and we are required to make additional milestone payments of up to $700,000 as follows:

    • $200,000 upon the filing of an NDA and acceptance of the filing by the U.S. Food and Drug Administration; and
    • $500,000 upon receipt of U.S. Food and Drug Administration marketing approval for the product.

    In addition, we are required to make royalty payments to IntelGenx Corp. of 20% of net sales if the product is marketed by us and 60% of the first $2 million of net sublicense fees, and 40% of net sublicensing fees thereafter, in if the product is marketed by sublicensees. However, if we
    bear the regulatory costs in a sublicense arrangement, royalties will be 20% of net sublicense fees until we recover these costs, plus 10% interest, and if IntelGenx Corp. bears such costs, royalties will be 70% of net sublicense fees.

    The agreement provides that all intellectual property developed or to be developed exclusively by IntelGenx Corp. will belong exclusively to IntelGenx Corp. and will be licensed to us, and the intellectual property to be developed or financed jointly by IntelGenx Corp. and us will be
    jointly owned by us and IntelGenx Corp., and each party may make use of such joint intellectual property for uses not competing with either the product or the other party.

    Sentiment: Buy

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