RE: The pump is Here21 Oct 2024 15:20
Second deal on the card as well:
Under the Option Agreement, Ambrose Healthcare has a 12-month period of exclusivity under which it may exercise the option to execute a global, exclusive license of Valiseek's VAL401 asset under pre-agreed terms.
ValiSeek has received an undisclosed, small fee, settled through the issue of shares in Ambrose Healthcare. Subject to the exercise of the Option by Ambrose Healthcare, the agreement details clinical and commercial milestone payments to be made to ValiSeek totalling a value of up to £16 million plus royalties.
Under the licensing terms, Ambrose Healthcare commits to completing development and commercialisation of VAL401 at Ambrose's cost.