Avecho Biotechnology (ASX:AVE) received the initial $3 million licensing fee from generic pharmaceuticals company Sandoz for the commercial rights to the former's proprietary cannabidiol (CBD) product in Australia, according to a Friday filing with the Australian bourse.
Avecho Biotechnology is entitled to receive $16 million upon meeting certain milestones and tiered royalties ranging from 14% to 19% on net sales, per the filing.
Under the terms of the agreement, Sandoz has exclusive commercial rights for Avecho's CBD capsule product for insomnia in Australia for 10 years.
Avecho Biotechnology's shares jumped 20% in recent trade.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。