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Option to License PCS12852 (Details Narrative) - PCS 12852 [Member] | Jun. 17, 2025
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Research and Development Arrangement, Contract to Perform for Others [Line Items] |
Description of term sheet | Upon execution of the Term Sheet, Intact agreed to pay a non-refundable standstill payment of $20,000 and upon execution of a license agreement, the Company will receive a 3.5% equity interest in Intact and a payment of $2.5 million, with $1.0 million paid within thirty days of closing and the remaining $1.5 million paid within twelve months of closing. The Term Sheet also provides that the license agreement will provide for development and regulatory milestone payments, commercial milestone payments based on net product sales and a 12% royalty on worldwide net sales of licensed products, excluding South Korea.
Description of term sheet remaining diligence | The obligations of the parties to enter into the license agreement are subject to additional diligence by Intact. Pursuant to the Term Sheet, the parties have one hundred and twenty (120) days to finish any remaining due diligence and enter into the license agreement. On October 11, 2025, Intact opted to extend the due diligence deadline by an additional one hundred and twenty (120) days for a fee of $30,000.

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