Jubilant Innovation receives upfront payment and potential milestones from its investment
Jubilant Innovation USA Inc., a subsidiary of Jubilant Life Sciences, will receive an upfront payment of US$ 4.6 million and contingent payments up to US$ 18 million based on the achievement of certain predetermined clinical and regulatory milestones from its 10% interest as limited partner in one of the venture funds specialised in seeding and investing in early stage drug discovery firms. These payments are on account of an acquisition by a large pharma company of one of their investee companies having assets in early stage clinical development.Powered by Capital Market - Live News