RE: Rpt of JapaneseTrial17 Jun 2019 09:24
Cyno
Jap trial was conducted and paid for by our jap partner, so maybe when our CEO said the re trail will be paid for by a partner he was refering in part to them...
The specialty pharma company Maruishi Pharmaceutical Co., Ltd. based in Osaka, Japan has been licensed Traumakine® in return for up to €5 million in development payments. The Traumakine® Phase II clinical trial was completed in Japan with positive top-line results, and Maruishi has now begun the pivotal Phase III clinical trial.
Maruishi will cover all the development costs in Japan in respect of Traumakine®. Faron is to receive a share of Maruishi´s net profits of Traumakine® through milestones, royalties and other payments. To date, Faron has received €2.3 million in milestone payments pursuant to its agreement with Maruishi and is due to receive up to an additional €2.7 million subject to certain key development milestones being met