Scope of the Royalty-Free License and Sublicensing Restrictions
First written in FY2023. 1 of 3 entries say "Mitigated", first in FY2024-Q3. Latest entry: FY2025.
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- FY2025WorsenedAnnual report
「To prevent the partner from developing or commercializing non-grant-back SMTP compounds for indications being developed by the Company with grant-back compounds, the Company must notify the partner of development by 11 May 2026, 5 years after the option exercise date, and begin a clinical trial within 5 years of that notice.」
In addition to limits on the royalty-free licenses for TMS-008 and TMS-009, the Company must notify the partner of development by 11 May 2026 and begin a clinical trial within 5 years thereafter. - FY2024-Q3MitigatedAnnual report
「These royalty-free licenses will continue without interruption even after the relevant patents are transferred from Biogen to JIXING HK.」
The Company states that the royalty-free licenses for TMS-008 and other programs will continue after the patents are transferred from Biogen to JIXING HK. - FY2023First statedAnnual report
「For TMS-008 and TMS-009, which are pipeline programs other than TMS-007, the Company has received from Biogen a royalty-free license to develop certain compounds relating to intellectual property transferred to Biogen (grant-back compounds) solely for specified indications, and must conduct development within the scope of that license.」
The royalty-free licenses for TMS-008 and TMS-009 are limited to specified diseases, and Biogen has a right of first negotiation in the event of sublicensing, restricting development and commercialization.