SEC Filings

10-Q
AVEXIS, INC. filed this Form 10-Q on 08/10/2017
Entire Document
 

 

Article 3:  Consideration

3.1       Initial Fee.  In partial consideration of the license granted to Licensee under Section 2.1, Licensee shall pay Licensor an initial fee of $6,000,000, which shall be payable within **** after the Effective Date.

3.2       Annual Maintenance Fee.  In partial consideration of the license granted to Licensee under Section 2.1, Licensee shall pay Licensor on-going annual maintenance fees of $**** for each Field on each anniversary of the Effective Date.

3.3       Milestone Fees

3.3.1    In partial consideration of the rights and licenses granted to Licensee under Section 2.1, Licensee shall pay Licensor the following milestone payments within **** after the achievement of each event for only the first Licensed Product in each Field to achieve each of the following milestone events:    

 

 

 

Milestone

    

Milestone Payment

1.  First treatment of the 1st human subject in a clinical trial (i.e., first patient, first dose)

    

$****

2.  First treatment in Phase 3 Clinical Trial (i.e., first patient, first dose)

 

$****

3.  NDA submission in the United States

 

$****

4.  Marketing Authorization submission in the European Union

 

$****

5.  NDA approval in the United States

 

$****

6.  Marketing Authorization approval in the European Union

 

$****

Total (per Licensed Product in each Field):

 

$ 18,000,000.00

 

For clarity, the milestone payments set forth in this Section 3.3.1 are payable *** with respect to only the first Licensed Product in each Field to reach each of the foregoing milestone events, ****.

3.3.2    To the extent that either of the first two development milestones in Section 3.3.1  (i.e., first treatment of a human subject in a clinical trial or first treatment in Phase 3 Clinical Trial) has not been paid at the time of achievement of either the NDA or Marketing Authorization submission milestone (i.e., milestones 3 and 4 in Section 3.3.1), then, upon the achievement of either of such submission milestones, the preceding unpaid development milestone payments shall be made in addition to the payment corresponding to the applicable submission milestone that has been achieved.

9

*  * * * CERTAIN INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITHRESPECT TO THE OMITTED PORTIONS.


 


© AveXis, Inc. All Rights Reserved.