Quarterly report pursuant to Section 13 or 15(d)

Contingencies and commitments

v3.21.1
Contingencies and commitments
3 Months Ended
Mar. 31, 2021
Contingencies and commitments  
Contingencies and commitments

Note 10 Contingencies and commitments

On January 7, 2021, the Company entered into an agreement with a third party, whereby the third party is responsible for the development, manufacture, submission of regulatory filings and commercialization of a companion diagnostic for the detection of the MAGE-A4 biomarker. The Company shall compensate the third party for its performance of activities under the agreement based on milestone payments and reimbursement of direct expenses.  The agreement is non-exclusive and the third party can sell the companion diagnostic to other parties.  Once the companion diagnostic is approved and launched, the Company guarantees a minimum revenue to the third party.  The agreement can be terminated by the Company and the third party upon 60 days’ notice, if certain conditions are met.