Shots:
- Jupiter Neurosciences has entered into a definitive license agreement with PharmAla Biotech for perpetual exclusive US rights to ALA-002, a FDA NCE-designated, non-racemic MDMA formulation
- Jupiter Neurosciences will receive perpetual exclusive US rights to ALA-002 for $3.3M upfront ($1.5M cash + $1.8M JUNS common stock), with the deal valued at up to $100M, incl. milestone payments & excl. ongoing royalties
- PharmAla will receive $3.3M upon P-III initiation, $20M upon US NDA approval, & commercial milestone payments of $10M, $30M, & $33.3M upon reaching $333M, $1B, & $2B in cumulative US net sales, respectively, plus a 3% royalty on net sales after the third commercial milestone
Ref: Globenewswire | Image: Jupiter and PharmAla | Press Release
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