VimRx, Columbia University deal

VMRX acquired an exclusive worldwide license to Factor IXa from Columbia. In preclinical studies, the factor demonstrated a selective anticoagulant effect, preventing clotting in blood vessels but not in other body tissues.

VMRX will pay $100,000 in cash and commit at least $900,000 a year for three years in development funding. If the product generates commercial proceeds through a VMRX partnership, Columbia will take 75 percent of the proceeds until it receives $500,000, after which the university will receive 7 percent until VMRX has gained $4 million. After this point, VMRX will receive 85 percent and Columbia will take 15 percent of proceeds. ...