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news.ASC to pay DARA a total of $250,000, in four equal installments over approximately three years
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DARA BioSciences (DARA) has entered into an Addendum and First Amendment to Material Transfer Agreement with America Stem Cell (ASC), pursuant to which the Material Transfer Agreement between the company and ASC dated March 24, 2008 was amended.
Under the agreement, the company is expected to provide ASC with dipeptidylpeptidase (DPPIV) inhibitors from its proprietary library, which ASC is using to further its research and development program related to hematopoietic stem cell (HSC) transplants.
Once the Material Transfer Agreement as amended, ASC is required to pay the DARA a total of $250,000, in four equal installments over approximately three years, contingent upon ASC’s receipt of a specified amount of grant funding for its HSC research and development program.