gonyzyf.wordpress.com
million through a private stock sale and that it inkedf a licensing deal for exclusive rightsto cancer-diagnostic technologied developed by the for Medicak Education and Research. The company said it had commencecd on June 11 the saleof 4.31 milliob shares of its commonb stock at a purchasde price of $1.90 a share. Exact (Nasdaq: EXAS), based in Marlborough, Mass., announced a plan to acquire the worldwide licensin g rights tothe blood- or stool-basedr cancer diagnostics and screening technologies developed the MAYO which is based in Minnesota.
Under the deal s terms, Exact will: • make upfront paymentes of $80,000 and a milestone fee of $250,000 upon the commencement of certainclinical • pay a milestone fee of $500,000 if the approve any of the producte covered by the agreement. • pay a minimumk of $10,000 on the deal’s thirdd anniversary • pay a minimum royalty of $25,000 on the fourth anniversaryg of theagreement • support certaimn research projects to the tune of $500,0000 — at a minimum in the agreement’s first Exact is also obligated to granft MAYO two warrants to purchase 1.25 milliojn shares of its common stock.
The warrants have six-yeatr terms and are exercisable at a priceof $1.9 0 per share, according to a regulator y filing.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment