AzurRx BioPharma reports sublicense agreement with TransChem
In a regulatory filing, AzurRx Biopharma reported that the company entered into a sublicense agreement with TransChem, pursuant to which TransChem granted to the company an exclusive license to patents and patent applications relating to Helicobacter pylori 5'-methylthioadenosine nucleosidase inhibitors currently held by TransChem. Unless terminated earlier under the provision of the sublicense agreement, the agreement will expire upon the expiration of the last agreement patent. The company paid an upfront signing fee to TransChem and agreed to reimburse TransChem for certain expenses previously incurred in connection with the preparation, filing and maintenance of the agreement patents. The company also agreed to pay to TransChem periodic sublicense maintenance fees, which, in the event the company becomes obligated to pay certain royalties under the agreement, such fees may be credited against those royalties. In addition to the sublicense maintenance fees, the company may be obligated to pay to TransChem additional payments and royalties in the future, in the event certain performance-based milestones and commercial sales involving the agreement patents are achieved.