4SC

DGAP-News: Immunic and 4SC AG Sign Agreement Regarding the Settlement of Royalty Obligations for Immunic's Lead Program, IMU-838

Retrieved on: 
Wednesday, March 31, 2021
Expense, Intellectual property law, Patent law, Royalty payment, Immunic, Inc., 4SC

Immunic and 4SC AG Sign Agreement Regarding the Settlement of Royalty Obligations for Immunic's Lead Program, IMU-838

Key Points: 
  • Immunic and 4SC AG Sign Agreement Regarding the Settlement of Royalty Obligations for Immunic's Lead Program, IMU-838
    The issuer is solely responsible for the content of this announcement.
  • Immunic acquired lead program IMU-838 in September 2016 from 4SC AG through an asset acquisition, in exchange for a one-time upfront cash payment, future milestone payments and a royalty on net sales for a certain period.
  • With completion of this transaction, no further payment obligations remain between Immunic and 4SC.
  • "Execution of this agreement with 4SC is key, as it provides us with 100% of the future sales potential of our lead asset, IMU-838," stated Daniel Vitt, Ph.D., Chief Executive Officer and President of Immunic.