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Biotech / Medical : Cistron Biotechnology(CIST)$.30
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To: celeryroot.com who wrote (2602)2/17/2000 8:29:00 PM
From: Walter Morton  Read Replies (1) of 2742
 
What CIST is willing to pay Duke University:

- $20,719.16 shall be paid to DUKE no later that September 15, 1999.
- $20,719.16 shall be paid to DUKE on completion of the Research and receipt by CISTRON of a final report .
- $100,000 upon the execution of this AGREEMENT
- $50,000 upon the issuance of the first patent in the United States of America based on DUKE PATENTS
- $25,000 upon the issuance of the first patent in the United States of America based on JOINT PATENTS
- $100,000 upon a decision by PMC to exercise its option to participate with CISTRON in the development of LICENSED PRODUCTS that are therapeutic vaccines.
- $100,000 upon a decision by PMC to exercise its option to participate with CISTRON in the development of LICENSED PRODUCTS that are prophylactic vaccines.
- $200,000 upon approval of the first New Drug Application with the FDA or Biologics License Application with the FDA for a LICENSED PRODUCT.
- $50,000 or ten percent (10%) [the greater of ] of the aggregate of any sublicensing fees or cash payments received by CISTRON
- $25,000 per year in every year that the development of LICENSED PRODUCTS is delayed [for an exclusive license]
- .5% Royalty on Net Sales
- 12.5% of any damages received in excess of legal expenses incurred by CISTRON in enforcing rights in the LICENSED PATENTS.

If CIST was a "dead man walking" why would Duke take the time to amend its agreement with CIST?
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