Answered my own question-- RGEN and 8K-- Purchase of Secretin rights
From 8K (summary)
Item 2. Acquisition or Disposition of Assets.
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On March 9, 1999, Repligen Corporation, Inc. (the "Company") acquired all
rights to certain patent applications relating to the use of secretin in the
prevention or treatment of autism. The rights were acquired from the joint
owners, Victoria A. Beck, a United States resident ("Beck"), and Autism Research
Institute, a not-for-profit organization incorporated in the State of California
("ARI") pursuant to a Patent Purchase Agreement by and among the Company, Beck
and ARI, dated as of March 9, 1999 (the "Purchase Agreement").
At the closing, the Company paid $150,000 in cash, and issued a warrant
exercisable for up to 350,000 shares of common stock of the Company with an
exercise price of $1.59 per share, and issued 262,500 shares of common stock of
the Company. In addition, the Company has agreed to make certain milestone
payments to Beck and ARI (a) upon the Company's filing of a new drug application
with the United States Food and Drug Administration ("FDA") for a clinical
indication covered by the intellectual property rights transferred by the
Purchase Agreement and (b) upon the approval by the FDA of a product covered by
the intellectual property rights transferred to the Company pursuant to the
Purchase Agreement. Finally, the Company has also agreed to pay certain royalty
payments to Beck and ARI in the event the Company is able to derive sales and/or
license revenues from the intellectual property rights acquired from Beck and
ARI pursuant to the Purchase Agreement. The source of the funds used in this
acquisition was the Company's working capital. The purchase price and terms for
the transaction were determined in arm's length negotiations. |
