Cyplasin Biomedical Ltd., announces Licensing of Cyplasin technology
Financial terms were not disclosed but the license includes a financial upfront payment with an option for Bioxen to purchase the Cyplasin IP at some future date.
Cyplasin Biomedical Ltd has retained the non therapeutic rights to the technology and in the event such products are developed Cyplasin will pay a small single digit royalty to Bioxen Ltd. In the event Bioxen exercises its option to purchase the Cyplasin IP, Cyplasin will be granted an irrevocable, fully paid, world wide exclusive, license to all non therapeutic products.
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