Alseres, BioAxone deal

Alseres (formerly Boston Life Sciences Inc.) is no longer required to pay milestones to BioAxone under a 2006 deal that granted Alseres exclusive, worldwide rights to BioAxone's Cethrin. In return, Alseres has an undisclosed time period to sublicense the compound. Both companies will be eligible to receive a fixed percentage of any sublicense income. If Alseres does not identify a sublicense partner within the timeframe, the deal between the parties will terminate, all rights to Cethrin will revert back to BioAxone and Alseres will be eligible for a lower percentage of royalties from any subsequent sublicense deals brokered by BioAxone. ...