RE: Large Royalty payment to be made31 Mar 2016 23:07
€10,000,000 on receipt of first marketing approval by the EMA of Episalvan (which is payabe on Admission, as this has been received);
•e ither (1) €5,000,000 once net exfactory sales of Episalvan have been at least €100,000 or (ii) if no commercial sales are made within 24 months of EMA first marketing approval €2,000,000 24 months after receipt of such approval and €3,000,000 following the first commercial sale;
• €10,000,000 once net exfactory sales/net revenue in any calendar year exceed €50,000,000;
• €15,000,000 once net exfactory sales/net revenue in any calendar year exceed €100,000,000;
• €10,000,000 on receipt of marketing approval by the EMA or FDA of the orphan drug product containing betulin as its API for the treatment of Epidermolysis Bullosa;
So its 10m euro payable on the approval and the rest of the royalties relate to cashflow which -by the way- is serious serious cashflow of 100 million euros per anum.
Think about it. Once we are achieveing 100m euros per anum cashflow what is a tiny 10m euro payment? Our market cap by then will be over £1billion
I'm very excited.