- BioNxt Solutions Inc. (BNXT) signed a non-binding term sheet to acquire IP assets and rights for a solid oral drug dosage form coating delivery technology
- The unnamed transferor will give all the rights, titles, and interests in the technology to BioNxt
- BioNxt will pay a royalty to the transferor based on net sales of products that used the technology
- BioNxt will also cover the costs sustained from filing and prosecuting patents
- BioNxt Solutions Inc. (BNXT) is unchanged, trading at $0.54 per share as of 12:44 p.m. EST
BioNxt Solutions (BNXT) has agreed to acquire IP assets and rights related to a novel solid oral drug dosage form coating delivery technology.
The terms included in the agreement are the transfer and assignment of all rights, titles, and interests in the technology from the unnamed transferor to BioNxt, and a royalty to the transferor for the net sales of products that use the technology. The royalty may be reduced at any time if BioNxt agrees to pay the transferor an additional lump sum.
BioNxt also agreed to cover the costs sustained in connection with filing and prosecuting patents. The terms are contingent on the two parties signing a definitive technology transfer agreement.
Hugh Rogers, CEO and Director of BioNxt, commented,
“This novel coating system could significantly improve oral tablet and capsule drug delivery with more precise and predictable dosing… potential applications from nutritional supplements and over-the-counter medications to prescription medications and psychedelic compounds.”
BioNxt is a bioscience accelerator focused on next-generation drug formulations and delivery systems, diagnostic screening tests, and new active pharmaceutical production and evaluation.
BioNxt Solutions Inc. (BNXT) is unchanged, trading at $0.54 per share as of 12:44 p.m. EST.
