Ann: Phosphagenics Expands Japanese Option to Oxycodone Patch-POH.AX, page-6

Under the terms of the agreement extension, Phosphagenics will receive an additional upfront option payment.

Phosphagenics and the Japanese company will collaborate on pre-specified activities to confirm the development path and commercial opportunity for the product in Japan.

If the option is exercised and the companies enter into an exclusive license agreement, Phosphagenics expects to receive a licensing fee, payments upon the achievement of certain milestones and royalties on commercial sales of the TPM®/Oxycodone patch in Japan.