Company: JUNS
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010990
Chunk: 20

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 20
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 2024, has accrued $18,750 and $75,000, respectively, license fees which are included in accounts payable and
accrued expenses on the accompanying condensed consolidated balance sheets

Finally, pursuant to the terms of the
License Agreement, upon mutual agreement, the Company may pay a one-time royalty of $3,000,000 within
180 days of United States marketing approval 1.25%  royalties on net sales
in the United States in lieu of the terms as set forth above.

Murdoch Children’s Research Institute

In 2015, the Company entered into a Global
Development and License Agreement (“License Agreement II”) with Murdoch Children’s Research Institute
(“MCRI”), an Australian Institute at the Royal Children’s Hospital in Australia, with the know-how in the process
of using pharmaceutical grade Resveratrol for the treatment of Friedreich’s ataxia. License Agreement II provides for joint
development for a delivery system, clinical trials for the treatment of Friedreich’s ataxia, and worldwide commercialization
by the Company. Furthermore, License Agreement II grants an exclusive worldwide license to the Company to use the MCRI know-how for
developing, manufacturing, and commercializing the product candidate for proposed treatment for Friedreich’s ataxia. In turn,
MCRI has been granted an irrevocable, royalty free, worldwide license for the use any product inventions along with patent rights
for internal research and development. Upon receipt of approval of an MMA in each territory, as defined (e.g., United States,
European Union, China, Japan), the Company will be obligated to pay an approval fee of $100,000 per
territory up to a maximum of $300,000 in
aggregate, which has not yet been received as of March 31, 2025. Pursuant to the terms of License Agreement II, upon
commercialization, Company will pay a royalty of 1.5%
of net sales, as defined, in each territory to MCRI until such time as any product related to License Agreement II is no longer sold
in the respective territory.

Note 8 – Segment Report

The Company’s Chief Executive Officer serves
as the CODM and evaluates the financial performance of the business and makes resource allocation decisions on a consolidated basis.

The Company operates in one reportable segment,
related to pharmaceutical development, which includes all activities related to product candidate development. The determination of a
single reportable segment is consistent with the financial information regularly provided