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$First Wave BioPharma (FWBI.US)$ The Company will pay Sanofi...

$First Wave BioPharma (FWBI.US)$ The Company will pay Sanofi an upfront payment of $500,000 within thirty business days of the date of the License Agreement. Sanofi will be eligible to receive up to $46 million in potential development and regulatory milestone payments and up to $235 million in potential commercial milestone payments. Sanofi will also be eligible to receive mid-to-high single-digit royalties on net sales, as well as a percentage of sublicense and transfer revenues with respect to Capeserod. Sanofi will also have a right of first refusal with respect to Capeserod out-licensing transactions
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