Oncosil is covered by a comprehensive portfolio of both granted patents and patent applications which all fall within the assignment and license agreement from pSiMedica. These provide broad product and technology-related protection for Enigma products and on-going development strategies.
Under a December 2012 license agreement, amended and restated in March 2013, Enigma Therapeutics Limited (Enigma) acquired an exclusive, worldwide, royalty-bearing license for the development of BrachySil (now named OncoSil™), a BioSilicon product candidate for the treatment of pancreatic and other types of cancer. We received an upfront fee of $100,000 and are entitled to an 8% sales-based royalty, 20% of sublicense consideration and milestones based on aggregate product sales. Enigma is obligated to pay an annual license maintenance fee of $100,000, creditable during each ensuing twelve month period against reimbursable patent maintenance costs and sales-based royalties. The first annual license maintenance fee of $100,000 was paid in January 2014. Enigma has the right to terminate its license upon 60 days prior written notice.
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16.0¢ Sentiment: Buy Disclosure: Held
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