https://www.proactiveinvestors.co.uk/companies/news/900390/sierra-oncology-still-seeking-further-fun6 Feb 2020 16:10
Sareum is eligible to receive 27.5% of a US$7.5mln milestone payment upon the dosing of the first patient in the first Phase 1 trial of SRA737 in the United States, and a payment of US$12mln upon the dosing of the first patient of a randomized Phase 2 trial.
Sierra said it was looking to "renegotiate these milestone payments or raise additional capital", noting that if it breaches any of the obligations within the milestone agreements, or use the intellectual property licensed to us in an unauthorized manner, it may be required to pay damages and lose the licence.