"Upfront fees associated with the license agreement are not material and will be funded entirely from existing cash reserves. The agreement includes industry standard development milestones, patent costs, maintenance fees, and royalties on commercial net sales. Under the agreement, each party owns all of the rights, title and interest in results developed by them. Chimeric is entitled to use jointly developed results under the terms of the agreement." https://chimerictherapeutics.com/wp-content/uploads/2022/11/License-Agreement-with-CWRU-Supplementary-Announcement-24-Nov-2022.pdf
The quoted statement "currently funded without financial support from Chimeric Therapeutics" refers however to the trial itself, rather than the license. Generally with these sort of trials you'd expect the company to supply at least the (NK) cells. In this case however, given that the recruitment started in September according to clinicaltrials.gov and therefore before the license agreement was officially finalized, there's a good chance that they (Selfridge/UH Seidman) also paid for the cells.
Excellent outcome for us (whether we paid for the cells or not) as it saved us a few million dollar to conduct the trial.
CHM Price at posting:
8.2¢ Sentiment: Buy Disclosure: Held
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