Provectus licenses University of Miami's rose bengal PDAT for eye infections; will form spinout

PROVECTUS BIOPHARMACEUTICALS, INC.

Exclusive worldwide license for photodynamic antimicrobial therapy (PDAT) using rose bengal sodium to treat bacterial, fungal, and acanthamoeba keratitis.
Upfront fee of $10k; 10% royalty on net sales; annual maintenance fees of $1k (years 1-4) then $10k; development milestones up to $55k.
Company to form a majority-owned NewCo within one year; University gets 5% equity and up to 30% of sublicense income depending on clinical phase.
Technology supported by two international randomized clinical trials (NCT05110001, NCT06271772) for acanthamoeba/fungal and bacterial keratitis.
Provectus will supply pharmaceutical-grade rose bengal sodium to NewCo exclusively.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

PROVECTUS BIOPHARMACEUTICALS, INC. entered into Exclusive License Agreement with University of Miami (effective 2024-03-21).

Action: entry
Agreement: license
Counterparty: University of Miami
Effective: 2024-03-21

Exact text from the filing

On March 21, 2024, Provectus Biopharmaceuticals, Inc. (the “Company”) entered into an Exclusive License Agreement (the “License Agreement”) with the University of Miami (the “University”) for the license and development of the University’s intellectual property related to photodynamic antimicrobial therapy in ophthalmology.

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Source: SEC EDGAR

accession 0001493152-24-011443

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