RE: CIZ RNS9 Sep 2021 09:21
VELA IS A BETTER BET!
Further, under the MoU, SGS has agreed to grant Cizzle Biotechnology potential future royalty payments from the commercialisation of SGS's therapeutic asset of up to GBP5 million, plus potentially further payments from the use of the companion diagnostic. In consideration of this potential royalty stream, Cizzle Biotechnology has paid GBP65,000 to SGS on signature of the MOU and will pay a further GBP135,000 on entering into a full commercial contract. Any payments under this royalty are contingent on the successful development of SGS's therapeutic asset.