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Navidea Biopharmaceuticals Completes License For Parkinson's Disease Imaging Agent

The license agreement also provides for contingent milestone payments of up to $2.9 million, $2.5 million of which will principally occur at the time of product registration or upon commercial sales, and the issuance of up to an additional 1.15 million shares of Navidea stock, 950,000 shares of which are issuable at the time of product registration or upon commercial sales. In addition, the license terms anticipate royalties on annual net sales of the approved product which are consistent with industry-standard terms and certain license extension fees, payable in cash and shares of common stock, in the event certain diligence milestones are not met. Navidea agreed to file with the Securities and Exchange Commission and use its best commercial efforts to have declared effective within 90 days a registration statement that would permit Alseres to resell the common stock issued as initial or milestone payments under the license agreement.

Management will be available to answer questions regarding the license agreement and the addition of this new radiopharmaceutical program to its pipeline during it Second Quarter Earnings conference call with the investment community on Tuesday, August 7, 2012 at 8:00 AM EDT. The conference call can be accessed as follows:

 
CONFERENCE CALL INFORMATION
TO PARTICIPATE LIVE:       TO LISTEN TO A REPLAY:

Date:

   

August 7, 2012

Available until:

   

August 21, 2012

 

Time:

8:00 AM EDT

Toll-free (U.S.) Dial in #:

(877) 660-6853

 

Toll-free (U.S.) Dial in #:

(877) 407-8033

International Dial in #:

(201) 612-7415

 

International Dial in #:

(201) 689-8033

Replay passcode:

 

Account #

286

 

Conference ID #:

398463

                     
 

About [ 123 I]-E-IACFT (CFT)

CFT is a patented, novel, small molecule radiopharmaceutical used with single photon emission computed tomography (SPECT) imaging to identify the status of specific regions in the brains of patients suspected of having Parkinson’s disease. The agent binds to the dopamine transporter (DAT) on the cell surface of dopaminergic neurons in the striatum and substantia nigra regions of the brain. Loss of these neurons is a widely recognized hallmark of Parkinson’s disease.

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