Qualigen Therapeutics Inc (QLGN) has released an update.
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On February 15, 2024, we struck a deal with Pan-RAS Holdings, granting them exclusive rights to our RAS drug development program. This includes technology transfer and could lead to Pan-RAS handling all related milestone and royalty payments to the University of Louisville Research Foundation on our behalf. Pan-RAS has a 30-day window to finalize this agreement, which would include a $1 million upfront payment to us and subsequent royalty payments of 1.0% on net sales of any RAS products.
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