RE: VistaGen27 Jun 2020 10:13
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On June 24, 2020, VistaGen Therapeutics, Inc. (the “Company”) entered into a license and collaboration agreement (the “License Agreement”) with EverInsight Therapeutics Inc., a company incorporated under the laws of the British Virgin Islands (“EverInsight”), pursuant to which the Company granted EverInsight an exclusive license to develop and commercialize PH94B, the Company’s novel, rapid-onset neurosteroid drug candidate for multiple anxiety-related disorders, in Greater China (which includes Mainland China, Hong Kong, Macau and Taiwan), South Korea and Southeast Asia (which includes Indonesia, Malaysia, Philippines, Thailand and Vietnam) (collectively, the “Territory”). The Company retains development and commercialization rights for PH94B in the rest of the world.
Under the terms of the License Agreement, the Company is entitled to receive an upfront payment of $5.0 million. The Company may also receive up to an additional $172 million in milestone payments upon EverInsight’s achievement of certain developmental, regulatory and sales milestone events related to PH94B. The Company is also entitled to receive certain royalties on net sales, if any, of PH94B in the Territory following receipt of any required regulatory approval. In addition, EverInsight has the right to sublicense to affiliates and third parties in the Territory."
ATB