Oasmia and Abbott ABT have entered into an exclusive global collaboration
agreement with respect to Oasmia's two leading animal health product
candidates, Paccal® Vet and Doxophos® Vet. The agreement significantly expands
the nature and scope of the initial collaboration that was initially entered
into in 2009 between Oasmia and Abbott regarding these products.
Under the terms of the expanded agreement, Abbott Animal Health will obtain
exclusive license and distribution rights to the products for essentially the
entire world. In return, Oasmia will receive an upfront payment and is
eligible to receive additional milestone payments of up to $21.5M subject to
Oasmia meeting various product development and sales milestones. In addition,
in the event either or both of the products are commercialized, Oasmia shall
receive tiered royalties on net sales. Oasmia will continue to fund research,
development and manufacture of Paccal® Vet and Doxophos® Vet.
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