Shots:
- Splash secured exclusive global rights to develop & commercialize CannEpil for drug-resistant epilepsy, refractory epilepsy, seizure disorders, & related neurological conditions, incl. future product improvements & next-generation formulations
- Splash secured a $1M strategic investment from C/M Capital Partners, while Mercer Street forgave ~$5M in Argent BioPharma debt and Splash issued $5.5M in preferred equity as part of the CannEpil licensing transaction
- Argent will receive a 15% royalty on worldwide CannEpil net sales, while Splash holds exclusive global commercialization & sublicensing rights under an initial 20yr. agreement. FDA pre-IND engagement for CannEpil is underway
Ref: PRnewswire | Image: Splash & Argent BioPharma | Press Release
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