Benzinga | Aug 17, 2020 07:02AM EDT

UPDATE: Taysha To Make Initial Cash Payments Of $7M To Abeona; Abeona Is Eligible To Receive Up To $56M Upon Achievement Of Milestones

Under the terms of the agreement, Taysha will make initial cash payments to Abeona of $7 million, comprised of a $3 million upfront license fee and $4 million inventory purchase price, including GMP-sourced CLN1 plasmid from Abeona. In addition, Abeona is eligible to receive up to $56 million from Taysha upon the achievement of certain clinical, regulatory and sales milestones, plus high single-digit royalties on net sales of Taysha's CLN1 product.