Imunon announces strategic sale of ThermoDox
IMNN•Imunon agreed to sell ThermoDox rights to VoxelDox, with a potential 4.76% equity stake, up to $16.50 million in milestones and tiered royalties of 3.5% to 6%. Closing depends on VoxelDox completing a $2.50 million financing for a Phase 1 glioblastoma trial.
1. Sale terms
Imunon entered an agreement to sell ThermoDox rights to VoxelDox. Imunon will receive a 4.76% equity interest upon completion of financing, up to $16.50 million in milestones and tiered royalties of 3.5% to 6% on net sales of ThermoDox products. The deal is contingent on VoxelDox completing a $2.50 million financing for a Phase 1 glioblastoma trial.
