Page 105 Cortendo ipo.....
http://www.nasdaq.com/markets/ipos/...3#A2225828ZF-1_HTM_CA18501_PROSPECTUS_SUMMARY
"Therapeutics will retain commercialization rights for COR-004 in endocrinology applications in Australia and New Zealand, but cannot, and cannot allow its subsidiaries to, conduct any marketing or promotion of COR-004 in endocrinology applications anywhere else in the world. Antisense Therapeutics will also retain worldwide rights for COR-004 in other indications, and may utilize new COR-004 data generated by us in pursuing these other indications, subject to specified terms and conditions. Antisense Therapeutics has the responsibility to prosecute and maintain COR-004's patent protection anywhere in the world, excluding Australia and New Zealand, until the start of a Phase 3 clinical trial, after which we have the responsibility. We also have the primary responsibility to control the preparation, filing, maintenance and prosecution of any patents or patent applications for COR-004 anywhere in the world, excluding Australia and New Zealand. Either party may terminate the License Agreement upon the occurrence of certain events, provided notice is given to the other party. We may terminate the License Agreement upon 90 days' prior written notice to Antisense Therapeutics if we believe the further development and commercialization of COR-004 is no longer feasible due to a material change that is beyond our control.
If, however, we terminate the License Agreement for convenience upon 90 days' prior written notice to Antisense Therapeutics prior to the filing of an NDA in the United States for COR-004, we must pay Antisense Therapeutics a $2.0 million termination fee. "
Ok so we get the drug back with absolutely nothing wrong with it and it will have cost them approx. $8million dollars of which $7million ends up in Anps bank account.
