RespireRx Pharmaceuticals Inc. and ResolutionRx Ltd Enter into Bilateral Agreements to Establish ResolutionRx Ltd as an Operating Company
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Wednesday, August 9, 2023
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The Exclusive License permits the sublicensor to grant written sublicenses of its rights under the Exclusive License.
Key Points:
- The Exclusive License permits the sublicensor to grant written sublicenses of its rights under the Exclusive License.
- The Sublicense is essentially a direct pass-through of all of the rights and obligations associated with the Exclusive License to ResolutionRx as sublicensee from RespireRx as sublicensor.
- In consideration for the License and Sublicense, ResolutionRx issued 25,000,000 Ordinary Shares of ResolutionRx to RespireRx pursuant to a stock transfer agreement plus the payment of US$1 to RespireRx.
- Our service agreements with RespireRx and iNGENu will provide the needed infrastructure for operations that have recently begun.