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Astoria Capital SA to establish JV with Milestone Scientific Inc

Wednesday, 9 Apr 2014 03:18am EDT 

Astoria Capital SA:Signs letter of intent with Milestone Scientific Inc (MLSS) for establishing a joint venture (JV) Milestone Ophthalmic SA (MO).MO is to receive worldwide exclusive license for MLSS patents in uses of "into the eye" injection.Astoria Capital SA will have a 75 percent stake in MO and MLSS remaining 25 percent.MO will make royalty payments to MLSS of 7 percent of its revenues from sale of into the eye" injections and will pay $1 million after it had reached certain milestones (such as gaining FDA/EU approvals). 

Company Quote

0.05 +2.70%
8 Sep 2014