Epitope deal

SmithKline deposited an additional $5 million into an escrow fund. The majority of escrowed funds will be released upon extension of dating for OraSure, which received FDA approval in December for use by medical professionals to test for antibodies to HIV-1. The current license for the product includes an expiration date that would not be conducive to over-the-counter sales.

EPT (Beaverton, Ore.) is conducting a study in order to extend the expiration date, and will fund the regulatory costs required to extend FDA approval to the OTC market. If extended dating is not achieved by an undisclosed date, royalties may be credited against the initial $1 million license fee until dating is extended. ...