Company: JUNS
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010990
Chunk: 48

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 48
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 pay Aquanova an
annual license fee of $75,000 in
the year and each year subsequent thereto the acceptance of the product formulation by both parties. Such annual license fee
requirement terminates in the year in which marketing authorization approval (“MMA”) is obtained in a single territory,
which as of March 31, 2024 has not been received. Upon receipt of MMA in each territory (e.g., United States, European Union, China,
Japan), the Company will be obligated to pay $200,000 to
Aquanova per territory in which an MMA approval obtained, up to a maximum of $600,000,
in aggregate. In addition, upon commercialization the Company will be obligated to pay Aquanova a royalty equal to 5%
of net sales, as defined, in each territory until the later of (i) ten years after the first commercial sale; (ii) the first date
there is no valid claim within the Aquanova patent rights; or (iii) the MMA expiration date in each territory. As of March 31, 2025
and December 31, 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