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Drug Names(s): UMK-121
Description: UMK-121 is a proprietary technology based upon existing FDA approved drugs for the mobilization of bone marrow stem cells.
Proteonomix and Cohen McNiece Foundation
In March 2011, Proteonomix announced that on it entered into an exclusive license agreement with the Cohen McNiece Foundation to develop Mobilization of Bone Marrow Stem Cells technology (UMK-121).
Under the terms of the agreement, Proteonomix gains complete rights, title, and interest to UMK-121 with the right to license or sub-license the technology. Proteonomix will transfer 50,000 shares of common stock to the Cohen McNiece Foundation, or at the request of the Cohen McNiece Foundation, shall pay $100,000. At the completion of a successful Phase III, within 30 days of such completion, Proteonomix will pay Cohen McNiece Foundation a sum of $200,000 or at the request of Cohen McNiece Foundation, Proteonomix will provide such payment in the form of the Proteonomix stock. Upon commercialization of UMK-121, Proteonomix will pay Cohen McNiece Foundation a royalty at a rate of three percent (3%) of net sales.
Proteonomix and...See full deal structure in Biomedtracker
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