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Ocular Therapeutix License Agreement | 12 Months Ended
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Dec. 31, 2022
Ocular Therapeutix License Agreement |
Ocular Therapeutix License Agreement |
| 4. | Ocular Therapeutix License Agreement
In December 2022, we entered into a license agreement, or Ocular Agreement, with Ocular Therapeutix, Inc., or Ocular to license the exclusive rights to certain patent applications for ophthalmic uses in both humans and nonhuman animals in the United States, or Licensed Patents. The grant of the Ocular license by us to Ocular is for an exclusive (even as to us), perpetual, fully paid-up license to use the Licensed Patents. The license comes with the right to sublicense. The Ocular paid a one-time fee of $50,000 and will reimburse our attorneys’ fees incurred by it in connection with the preparation and negotiation of the Ocular Agreement. Ocular shall make additional payments upon the achievement of certain milestone events as set forth in the License Agreement.

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