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These excerpts taken from the EPIX 10-K filed Mar 13, 2009. Royalty
Expense
Royalty expense of $3.4 million for the year ended
December 31, 2008 reflects an increase of approximately
$2.8 million from the prior year. The 2008 expense
primarily consists of a $2.5 million obligation to Covidien
that was due upon the FDA approval of Vasovist and royalties to
Ramot at Tel Aviv University Ltd. resulting from the receipt of
milestone payments in 2008 from our collaboration partners.
All of our current clinical-stage therapeutic drug candidates,
PRX-03140, PRX-08066 and PRX-07034, were, at least in part,
identified, characterized or developed using the licensed
technology acquired from Ramot, and we are required to make
payments to Ramot, as described below, as and when rights to any
such drug candidates are ever sublicensed or any such drug
candidates are commercialized. In addition, we have used the
licensed technology in all of our preclinical-stage programs,
and would expect to make payments to Ramot if rights to any drug
candidates were ever commercialized from any of these programs.
We also are required to share between 5% and 10% of the
consideration we receive, including upfront license fee and
milestone payments, from parties to whom we grant sublicenses of
rights in the Ramot technology or sublicenses of rights in
products identified, characterized or developed with the use of
such technology and between 2% and 4% of consideration we
receive from performing services using such technology. We would
also be required to pay Ramot royalties on sales of products
developed with the use of such technology.
Royalty
Expense
Royalty expense of $3.4 million for the year ended
December 31, 2008 reflects an increase of approximately
$2.8 million from the prior year. The 2008 expense
primarily consists of a $2.5 million obligation to Covidien
that was due upon the FDA approval of Vasovist and royalties to
Ramot at Tel Aviv University Ltd. resulting from the receipt of
milestone payments in 2008 from our collaboration partners.
All of our current clinical-stage therapeutic drug candidates,
PRX-03140, PRX-08066 and PRX-07034, were, at least in part,
identified, characterized or developed using the licensed
technology acquired from Ramot, and we are required to make
payments to Ramot, as described below, as and when rights to any
such drug candidates are ever sublicensed or any such drug
candidates are commercialized. In addition, we have used the
licensed technology in all of our preclinical-stage programs,
and would expect to make payments to Ramot if rights to any drug
candidates were ever commercialized from any of these programs.
We also are required to share between 5% and 10% of the
consideration we receive, including upfront license fee and
milestone payments, from parties to whom we grant sublicenses of
rights in the Ramot technology or sublicenses of rights in
products identified, characterized or developed with the use of
such technology and between 2% and 4% of consideration we
receive from performing services using such technology. We would
also be required to pay Ramot royalties on sales of products
developed with the use of such technology.
Royalty
Expense
Royalty expense of $0.6 million for the year ended
December 31, 2007 reflects a decrease of approximately
$0.5 million from the prior year. The 2007 expense
primarily consists of royalty payments made to Ramot at Tel Aviv
University Ltd. resulting from the receipt of milestone payments
in 2007 from our collaboration partners. The 2006 expense
primarily consists of the royalty payment to Ramot resulting
from the payments we received from the execution of the
GlaxoSmithKline agreement in December 2006.
Table of Contents
All of our current clinical-stage therapeutic drug candidates,
PRX-03140, PRX-08066 and PRX-07034, were, at least in part,
identified, characterized or developed using the licensed
technology acquired from Ramot, and we are required to make
payments to Ramot, as described below, as and when rights to any
such drug candidates are ever sublicensed or any such drug
candidates are commercialized. In addition, we have used the
licensed technology in all of our preclinical-stage programs,
and would expect to make payments to Ramot if rights to any drug
candidates were ever commercialized from any of these programs.
We also are required to share between 5% and 10% of the
consideration we receive, including upfront license fee and
milestone payments, from parties to whom we grant sublicenses of
rights in the Ramot technology or sublicenses of rights in
products identified, characterized or developed with the use of
such technology and between 2% and 4% of consideration we
receive from performing services using such technology. We would
also be required to pay Ramot royalties on sales of products
developed with the use of such technology.
Royalty
Expense
Royalty expense of $0.6 million for the year ended
December 31, 2007 reflects a decrease of approximately
$0.5 million from the prior year. The 2007 expense
primarily consists of royalty payments made to Ramot at Tel Aviv
University Ltd. resulting from the receipt of milestone payments
in 2007 from our collaboration partners. The 2006 expense
primarily consists of the royalty payment to Ramot resulting
from the payments we received from the execution of the
GlaxoSmithKline agreement in December 2006.
Table of Contents
All of our current clinical-stage therapeutic drug candidates,
PRX-03140, PRX-08066 and PRX-07034, were, at least in part,
identified, characterized or developed using the licensed
technology acquired from Ramot, and we are required to make
payments to Ramot, as described below, as and when rights to any
such drug candidates are ever sublicensed or any such drug
candidates are commercialized. In addition, we have used the
licensed technology in all of our preclinical-stage programs,
and would expect to make payments to Ramot if rights to any drug
candidates were ever commercialized from any of these programs.
We also are required to share between 5% and 10% of the
consideration we receive, including upfront license fee and
milestone payments, from parties to whom we grant sublicenses of
rights in the Ramot technology or sublicenses of rights in
products identified, characterized or developed with the use of
such technology and between 2% and 4% of consideration we
receive from performing services using such technology. We would
also be required to pay Ramot royalties on sales of products
developed with the use of such technology.
Royalty Expense Royalty expense of $3.4 million for the year ended December 31, 2008 reflects an increase of approximately $2.8 million from the prior year. The 2008 expense primarily consists of a $2.5 million obligation to Covidien that was due upon the FDA approval of Vasovist and royalties to Ramot at Tel Aviv University Ltd. resulting from the receipt of milestone payments in 2008 from our collaboration partners. All of our current clinical-stage therapeutic drug candidates, PRX-03140, PRX-08066 and PRX-07034, were, at least in part, identified, characterized or developed using the licensed technology acquired from Ramot, and we are required to make payments to Ramot, as described below, as and when rights to any such drug candidates are ever sublicensed or any such drug candidates are commercialized. In addition, we have used the licensed technology in all of our preclinical-stage programs, and would expect to make payments to Ramot if rights to any drug candidates were ever commercialized from any of these programs. We also are required to share between 5% and 10% of the consideration we receive, including upfront license fee and milestone payments, from parties to whom we grant sublicenses of rights in the Ramot technology or sublicenses of rights in products identified, characterized or developed with the use of such technology and between 2% and 4% of consideration we receive from performing services using such technology. We would also be required to pay Ramot royalties on sales of products developed with the use of such technology. Royalty Expense Royalty expense of $3.4 million for the year ended December 31, 2008 reflects an increase of approximately $2.8 million from the prior year. The 2008 expense primarily consists of a $2.5 million obligation to Covidien that was due upon the FDA approval of Vasovist and royalties to Ramot at Tel Aviv University Ltd. resulting from the receipt of milestone payments in 2008 from our collaboration partners. All of our current clinical-stage therapeutic drug candidates, PRX-03140, PRX-08066 and PRX-07034, were, at least in part, identified, characterized or developed using the licensed technology acquired from Ramot, and we are required to make payments to Ramot, as described below, as and when rights to any such drug candidates are ever sublicensed or any such drug candidates are commercialized. In addition, we have used the licensed technology in all of our preclinical-stage programs, and would expect to make payments to Ramot if rights to any drug candidates were ever commercialized from any of these programs. We also are required to share between 5% and 10% of the consideration we receive, including upfront license fee and milestone payments, from parties to whom we grant sublicenses of rights in the Ramot technology or sublicenses of rights in products identified, characterized or developed with the use of such technology and between 2% and 4% of consideration we receive from performing services using such technology. We would also be required to pay Ramot royalties on sales of products developed with the use of such technology. Royalty Expense Royalty expense of $0.6 million for the year ended December 31, 2007 reflects a decrease of approximately $0.5 million from the prior year. The 2007 expense primarily consists of royalty payments made to Ramot at Tel Aviv University Ltd. resulting from the receipt of milestone payments in 2007 from our collaboration partners. The 2006 expense primarily consists of the royalty payment to Ramot resulting from the payments we received from the execution of the GlaxoSmithKline agreement in December 2006.
Table of ContentsAll of our current clinical-stage therapeutic drug candidates, PRX-03140, PRX-08066 and PRX-07034, were, at least in part, identified, characterized or developed using the licensed technology acquired from Ramot, and we are required to make payments to Ramot, as described below, as and when rights to any such drug candidates are ever sublicensed or any such drug candidates are commercialized. In addition, we have used the licensed technology in all of our preclinical-stage programs, and would expect to make payments to Ramot if rights to any drug candidates were ever commercialized from any of these programs. We also are required to share between 5% and 10% of the consideration we receive, including upfront license fee and milestone payments, from parties to whom we grant sublicenses of rights in the Ramot technology or sublicenses of rights in products identified, characterized or developed with the use of such technology and between 2% and 4% of consideration we receive from performing services using such technology. We would also be required to pay Ramot royalties on sales of products developed with the use of such technology. Royalty Expense Royalty expense of $0.6 million for the year ended December 31, 2007 reflects a decrease of approximately $0.5 million from the prior year. The 2007 expense primarily consists of royalty payments made to Ramot at Tel Aviv University Ltd. resulting from the receipt of milestone payments in 2007 from our collaboration partners. The 2006 expense primarily consists of the royalty payment to Ramot resulting from the payments we received from the execution of the GlaxoSmithKline agreement in December 2006.
Table of ContentsAll of our current clinical-stage therapeutic drug candidates, PRX-03140, PRX-08066 and PRX-07034, were, at least in part, identified, characterized or developed using the licensed technology acquired from Ramot, and we are required to make payments to Ramot, as described below, as and when rights to any such drug candidates are ever sublicensed or any such drug candidates are commercialized. In addition, we have used the licensed technology in all of our preclinical-stage programs, and would expect to make payments to Ramot if rights to any drug candidates were ever commercialized from any of these programs. We also are required to share between 5% and 10% of the consideration we receive, including upfront license fee and milestone payments, from parties to whom we grant sublicenses of rights in the Ramot technology or sublicenses of rights in products identified, characterized or developed with the use of such technology and between 2% and 4% of consideration we receive from performing services using such technology. We would also be required to pay Ramot royalties on sales of products developed with the use of such technology. These excerpts taken from the EPIX 10-K filed Mar 17, 2008. Royalty
Expense
Royalty expense of $1.1 million for the year ended
December 31, 2006 reflects an increase of approximately
$1.0 million from the prior year. The increase in royalty
expense during 2006 is primarily due to the royalty payments
made to Ramot at Tel Aviv University Ltd. resulting from the
payments we received from GlaxoSmithKline in December 2006
relating to our agreement with them. In connection with the
GlaxoSmithKline agreement, we received an upfront payment and
proceeds from an equity investment in our
Table of Contents
common stock. We paid Ramot a royalty of approximately
$1.0 million relating to the GlaxoSmithKline upfront
payment.
Royalty Expense Royalty expense of $1.1 million for the year ended December 31, 2006 reflects an increase of approximately $1.0 million from the prior year. The increase in royalty expense during 2006 is primarily due to the royalty payments made to Ramot at Tel Aviv University Ltd. resulting from the payments we received from GlaxoSmithKline in December 2006 relating to our agreement with them. In connection with the GlaxoSmithKline agreement, we received an upfront payment and proceeds from an equity investment in our
Table of Contentscommon stock. We paid Ramot a royalty of approximately $1.0 million relating to the GlaxoSmithKline upfront payment. | EXCERPTS ON THIS PAGE:
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