The regime allows Belgian companies to deduct 80% of their qualifying patent income from their taxable income leading to a reduction in their maximum corporate tax rate for this income stream to 6.8%, i.e. 20% of the Belgian statutory corporate tax rate of 33.99%.
The patent income deduction applies to any licensing income (upfront payments, milestones and royalties) and to the portion of the sales price of a product sold directly that is considered to relate to the product's patents (embedded royalty). Under the legislation, depreciation of purchased patents and royalties due on the in-licensed patents should be deducted from the qualifying patent income before applying the 80% deduction.
ThromboGenics is a biopharmaceutical company focused on developing and commercializing innovative ophthalmic medicines. The Company's lead product, ocriplasmin, has successfully completed two Phase III clinical trials for the pharmacological treatment of symptomatic Vitreomacular Adhesion (VMA), otherwise termed Vitreomacular Traction (VMT), including when associated with macular hole. The MAA for ocriplasmin has been accepted for review in Europe and the BLA has been resubmitted in the U.S. Ocriplasmin is in Phase II clinical development for additional vitreoretinal conditions.In March 2012, ThromboGenics signed a strategic partnership with Alcon (Novartis) for the commercialization of ocriplasmin outside the United States. Under this agreement, ThromboGenics could receive up to a total of €375 million in up-front and milestone payments, plus an attractive level of royalties on Alcon's net sales of ocriplasmin. ThromboGenics and Alcon intend to share the costs equally of developing ocriplasmin for a number of new vitreoretinal indications. ThromboGenics is also developing TB-403, a novel antibody therapeutic, in collaboration with BioInvent International, for cancer and non-cancer, including ophthalmology, indications. ThromboGenics is headquartered in Leuven, Belgium. The Company is listed on the NYSE Euronext Brussels exchange under the symbol THR. More information is available at http://www.thrombogenics.com. Important information about forward-looking statements
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