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January 13, 2014
07:23 EDTMON, TKMRTekmira signs license option agreement with Monsanto
Tekmira Pharmaceuticals (TKMR) announced that it has signed an Option Agreement with Monsanto (MON), pursuant to which Monsanto may obtain a license to use Tekmira's proprietary delivery technology. The transaction will support the application of Tekmira's proprietary delivery technology and related intellectual property for use in agriculture. Tekmira noted that the potential value of the transaction could reach up to $86.2M following the successful completion of milestones. Tekmira expects to receive a near term payment of net $16.5M. Over the option period, which is expected to be approximately four years, Tekmira will provide lipid formulations to Monsanto's research and development activities, and Monsanto will make certain payments to Tekmira to maintain its option rights. At any time during the option period, Monsanto may choose to exercise its option, in which case Monsanto will pay to Tekmira an option exercise fee and will receive a worldwide, exclusive right to use Tekmira's proprietary delivery technology in the field of agriculture. Monsanto may elect to terminate this option at their discretion. Tekmira retains all rights to therapeutics uses of all current IP and IP developed under the agreement. The agreement follows Monsanto's initial testing of Tekmira's proprietary delivery technology and the demonstration of initial positive results from use of that technology in the field of agriculture, the company said.
News For TKMR;MON From The Last 14 Days
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April 22, 2015
14:16 EDTTKMRTekmira publishes positive preclinical Ebola survival data
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06:17 EDTMONAgrium downgraded to Sell from Neutral at Citigroup
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