Oasmia and Abbott Laboratories Sign Global Collaboration Agreement for Canine Oncology Therapies

Uppsala, Sweden, 2013-01-07 13:00 CET (GLOBE NEWSWIRE) -- Under the terms of the expanded agreement, Abbott Animal Health will obtain exclusive license and distribution rights to the products for essentially the entire world. In return, Oasmia will receive an upfront payment and is eligible to receive additional milestone payments of up to $21.5M subject to Oasmia meeting various product development and sales milestones. In addition, in the event either or both of the products are commercialized, Oasmia shall receive tiered royalties on net sales. Oasmia will continue to fund research, development and manufacture of Paccal® Vet and Doxophos® Vet.