Kiora Pharmaceuticals And Sentrx Animal Care Amend Existing Manufacturing Licensing Agreement For KIO-201; Amendment Eliminates $4.75M In Near-term Milestones Kiora Would Have Owed To Sentrx
Portfolio Pulse from Benzinga Newsdesk
Kiora Pharmaceuticals and Sentrx Animal Care have amended their existing manufacturing licensing agreement for KIO-201, eliminating $4.75M in near-term milestones Kiora would have owed to Sentrx. Sentrx gains access to Kiora's patents for the combination of KIO-201 and antibiotics for veterinary use, while Kiora will receive a royalty on net sales of products covered by licensed patents.
June 15, 2023 | 11:16 am
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Kiora Pharmaceuticals benefits from the amended licensing agreement with Sentrx Animal Care, eliminating $4.75M in near-term milestones and receiving royalties on net sales of products covered by licensed patents.
The amendment of the licensing agreement eliminates $4.75M in near-term milestones that Kiora Pharmaceuticals would have owed to Sentrx, reducing financial burden on Kiora. Additionally, Kiora will receive royalties on net sales of products covered by the licensed patents, providing a potential revenue stream. This is likely to have a positive short-term impact on KPRX stock.
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