Immune Pharmaceuticals and Vector Therapeutics Sign Option Agreement for Worldwide Ceplene® Rights
IMMUNE PHARMACEUTICALS INC NE (IMNP)
US:NASDAQ Investor Relations:
immunepharma.com/investor-relations
Company Research
Source: GlobeNewswire
Immune Receives $500,000 for Option; If Exercised, Total Deal Value Could Exceed $17.5 Million FORT LEE, N.J. and NEW YORK, Nov. 27, 2018 (GLOBE NEWSWIRE) -- Immune Pharmaceuticals, Inc. (OTCQB: IMNP) (“Immune”), a biopharmaceutical company developing novel therapeutic agents for the treatment of immunologic and inflammatory diseases, and Vector Therapeutics, Inc. (“Vector”), a biopharmaceutical company acquiring, developing and commercializing oncology therapeutics, today announced the execution of an agreement that gives Vector an option to acquire worldwide rights to Ceplene. Under the option agreement, Vector has paid Immune $500,000 and has gained an exclusive option to acquire worldwide Ceplene rights for total additional fixed consideration of $14.5 million, including $2.5 million at closing, $4.5 million in 2019, and $2.5 million in each of 2020, 2021 and 2022. At closing, Vector will also assume certain Ceplene-related liabilities from Immune, expected to total approxima
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