January 10, 2020 / 6:13 AM / 9 days ago

BRIEF-Cosmo Pharmaceuticals Sub-Licenses Its ByFavo US Rights To Acacia Pharma

Jan 10 (Reuters) - COSMO PHARMACEUTICALS NV:

* SUB-LICENSES ITS BYFAVO(TM) (REMIMAZOLAM) US RIGHTS TO ACACIA PHARMA, TAKES AN INITIAL 14.1% STAKE AND PROVIDES FINANCE FOR ACACIA PHARMA'S US EXPANSION

* AT SIGNING WILL RECEIVE A EUR 10 MILLION UPFRONT PAYMENT IN ACACIA PHARMA SHARES AND WILL MAKE A EUR 10 MILLION INVESTMENT IN ACACIA PHARMA SHARES

* WILL FURTHER RECEIVE EUR 20 MILLION IN ACACIA PHARMA SHARES AT BYFAVO(TM) APPROVAL AND FIRST SALES, THUS INCREASING ITS STAKE, PLUS UP TO USD 105 MILLION IN COMMERCIAL BYFAVO(TM) MILESTONES AND SAME ROYALTIES COSMO OWES TO PAION

* WILL ALSO GRANT A FIRST LOAN OF EUR 10 MILLION UPON APPROVAL OF BARHEMSYS(R) AND A SECOND LOAN OF EUR 25 MILLION UPON APPROVAL OF BYFAVO AT MARKET TERMS Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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