Baiotai Beval Bead single resistance in China-related rights and interests paid transition to Baiji Shenzhou.

According to the announcement, on August 24, 2020, Beijing time, Baotai and Baiji Shenzhou signed this Agreement in Guangzhou, China, which stipulates that BAOtai will independently develop and have independent intellectual property rights of BAT1706 (Beval Pearl Single Resistance) in China's product rights (including development, production and commercialization) paid license to Baj Shenzhou, Baaotai will retain the relevant rights outside the above-mentioned regions.
Aotai receives down payments and milestones totaling up to $165 million, plus a double-digit percentage sales credit.
agreement is subject to consideration and approval by the Company's General Meeting of Shareholders before it can take effect.
will make a one-time down payment of $20 million within 30 days of the agreement's effective date.
there are two additional milestone payments: (1) Registration and market access milestone payments: within 45 years of meeting the milestone conditions agreed in the agreement, Baji Shenzhou pays the corresponding milestone payment to Baate, totaling no more than $65 million.
(2) Commercial Milestone Payments: Within 30 days of receiving the net sales report for the corresponding year, Baji Shenzhou pays the corresponding milestone payment to Baotai, totaling no more than $80 million.
based on the sales of the product in the authorized area, Baiji Shenzhou will pay Theotai a sales credit at the agreed double-digit percentage based on the actual annual net sales.
this agreement will remain in effect until 15 years after BAT1706 (Beva Pearl Monoanti) has been approved by the State Drug Administration for listing, and after the expiration of the term, the two sides may jointly negotiate an extension.
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