July 5, 2017 / 7:15 AM / 16 days ago

BRIEF-NeuroSearch and Saniona enter into agreement on transfer of rights

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July 5 (Reuters) - NEUROSEARCH A/S:

* SAID ON TUESDAY SOLD REMAINING RIGHTS IN THE PRECLINICAL AND CLINICAL ASSETS DIVESTED TO SANIONA DURING THE PERIOD 2012-2016

* IN FULL AND FINAL SETTLEMENT OF NEUROSEARCH’S REMAINING RIGHTS IN THE DIVESTED PROGRAMS, WIL RECEIVE FROM SANIONA ONE-TIME CASH PAYMENT OF DKK 5.5 MLN

* SANIONA WILL FULLY ASSUME NEUROSEARCH’S ROYALTY OBLIGATIONS TO THIRD PARTIES REGARDING POTENTIAL NET SALES OF PRODUCTS

* FOR 2017, NEUROSEARCH NOW EXPECTS AN OPERATING LOSS IN THE RANGE OF DKK 2.3-3.3 MILLION, AGAINST PREVIOUSLY DKK 4.5-5.5 MILLION

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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