Company: CSCIF
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001641172-25-003456
Chunk: 140

Company: COSCIENS Biopharma Inc.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 6
Chunk 140
---
 CH.

  94  

Under
the terms of the Agreement, CH agreed to make a non-refundable, non-creditable upfront payment to the Company of $1,209 (€1.0 million),
which the Company received in January 2021. The Company also is eligible to receive additional consideration, including regulatory milestones
related to agreed-upon pricing and reimbursement parameters; net sales milestones; and royalties, ranging from 10%-20% of net sales of
macimorelin, subject to reduction in certain cases, or sublicense income recorded by Pharmanovia.

As
consideration for the right to commercialize the licensed product, Pharmanovia has agreed to pay certain milestones and royalty payments
as summarized below:

Paediatric
Use Regulatory payment (non-refundable and non-creditable)

  Grant                                                                                              

Regulatory
payments (non-refundable and non-creditable)

  Upon                                                                                                                           
  Above                                                                                                                          
  Euro                                                                                                                           
  Achievement                                                                                                                    

Commercial
milestones (non-refundable and non-creditable)

  Annual                                                              
  Annual                                                              
  Annual                                                              
  Annual                                                              

Royalties

  10.0%                                                     
  12.5%                                                     
  15.0%                                                     
  20.0%                                                     

Sublicense
Income Royalty

  10.0%                                                                   

The
license remains in full force and effect (i) as long as the licensed product is covered by a valid claim in any country covered by the
licensing agreement; (ii) the expiration of any regulatory marketing exclusivity period or other statutory designation that provides
similar exclusivity for the commercialization of the licensed product in any country covered by the licensing agreement; or (iii) on
a country by country of the covered territory, and licensed product by licensed product basis, for a period of ten (10) years after the
first commercial sale date in the respective country, whichever term is longer, subject to renewal. The licensee has the right to terminate
the license in certain circumstances.

  Exchange  
  controls  
 ────────────

Canada
has no system of exchange controls. There are no exchange restrictions on borrowing from foreign countries or on the remittance of dividends,
interest, royalties and similar payments, management fees, loan repayments, settlement of trade debts or the repatriation of capital.

  Taxation  
 ────────────

THE
FOLLOWING