FSD Pharma Signs a License Agreement with Innovet to Develop Veterinary Drugs for Gastro-Intestinal Diseases in Dogs and Cats
- Innovet to receive non-refundable sum of $500-000 which is payable on the effective date of the agreement and a second non-refundable sum of $250-000 which is payable on the first anniversary of the effective date of the agreement
- Within 30days- post first notification of the FDA on NDA’s approval of the first licensed product- Innovet will receive an additional nonrefundable sum of $750-000 along with royalties. Additionally- Innovet to receive 14% of any one-off lump sum payments for granting a sub-license to a third-party with respect to a licensed product
- FSD gets an exclusive WW license to develop & commercialize drugs using ultra-microPEA for GI diseases in canines and feline. FSD to develop the licensed products and submit an IND to the FDA within 36mos. and NDA within 60 mos.
Ref: Businesswire | Image: Businesswire
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Tuba was Senior Editor at PharmaShots. She was curious, creative, and passionate about recent updates and innovations in the life sciences industry. She covered Biopharma, MedTech, and Digital health segments. Tuba also had an experience in digital and social media marketing and ran the campaigns independently. She can be contacted at [email protected].