Company: JUNS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001261
Chunk: 395

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 10
Chunk 395
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 $150,000 of accrued license
fees are included in accounts payable and accrued expenses on the balance sheet, respectively. Upon receipt of approval of the MMA in
each territory (e.g., United States, European Union, China, Japan), the Company will pay $200,000 to Aquanova per territory an MMA approval
is received, up to a max of $600,000. The Company shall pay Aquanova a royalty of 5% of net sales in each territory through the later
of ten years after the first commercial sale, the first date there is no valid claim within the Aquanova patent rights, or the date of
expiration of the MMA in each territory.

Upon
mutual agreement, the Company can pay a one-time royalty of $3,000,000 within 180 days of United States marketing approval, with subsequent
royalty payments reduced to 1.25%, in accordance with the terms set forth above.

Murdoch
Children’s Research Institute

On
September 1, 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. The License
Agreement II is for both parties to work jointly to develop an appropriate delivery system and conduct clinical trials for the purpose
of product approval in the treatment of Friedreich’s ataxia and worldwide commercialization by the Company. The License Agreement
II grants an exclusive worldwide license to the Company to use the MCRI know-how for developing, manufacturing and commercializing the
product for proposed treatment for Friedreich’s ataxia. MCRI is granted an irrevocable, royalty free, worldwide license to use
the product inventions and patent rights for internal research and development. Upon receipt of approval of the MMA in each territory
(e.g., United States, European Union, China, Japan), the Company will pay $100,000 to MCRI per each territory up to a maximum of $300,000.
MMA has not yet been received as of September 30, 2024. The Company shall pay MCRI a royalty of 1.5% of net sales in each territory until
the product is no longer sold in the respective territory.

Research
and Development Service Providers

In
addition to the services received under the licensing agreements noted above