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Biotech / Medical : OSI Pharmaceuticals (OSIP) - formerly Oncogene
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To: scaram(o)uche who wrote (434)5/15/2008 11:05:00 AM
From: scaram(o)uche   of 447
 
But Goddard keeps pushing money out for the Cadus license..... OSI shareholders don't want to know what he gets in return??

Note - 3 Licensing Agreements

In February 2000, Cadus licensed to OSI Pharmaceuticals, Inc. (“OSI”), on a non-exclusive basis, its yeast-based drug discovery technologies, including various reagents and its library of over 30,000 yeast strains, and its bioinformatics software. OSI paid to Cadus a license fee of $100,000 and an access fee of $600,000 and in December 2000 a supplemental license fee of $250,000. OSI is also obligated to pay an annual maintenance fee of $100,000 until the earlier of 2010 or the termination of the license. OSI may terminate the license at any time on 30 days prior written notice. During the three-month period ended March 31, 2008 and 2007, the Company recognized $100,000 of license revenue related to this agreement.
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