Shots:

• 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