Processa grants Intact exclusive option to license PCS12852 for up to $452.5M milestones plus royalties

Processa Pharmaceuticals, Inc.

Near-term payments: $2.5M option exercise fee plus 3.5% equity stake in Intact upon closing.
Up to $20M in development/regulatory milestones and over $432.5M in commercial milestones on net sales.
Double-digit royalty on worldwide net sales (ex-South Korea); Processa must share 60% of cash payments with licensor Yuhan.
PCS12852 is a Phase 2-ready 5-HT4 agonist for diabetic gastroparesis with positive Phase 2a safety/efficacy data.
Definitive license agreement subject to 120-day diligence, extension for $30K, and Yuhan amendment.

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