Splash Beverage partners with Lupvindol to develop CannEpil-based veterinary drug for FDA conditional approval
SBEV•Funding, royalties and term
The agreement sets milestone funding of $1.11 million through conditional approval, including $500,000 at approval or an earlier licensing transaction.
Lupvindol also earns a 4% net sales royalty for 10 years from the first commercial sale, with an option to take common stock instead.
The initial term is five years with automatic renewal. Splash can terminate for convenience with 90 days' notice and a wind-down fee equal to the next milestone.
Development and collaboration deal with Lupvindol Biosciences
Splash Beverage entered a development and collaboration deal with Lupvindol Biosciences on July 31, 2026, to advance CannEpil as an FDA-regulated veterinary drug.
Lupvindol will lead work with the FDA Center for Veterinary Medicine, targeting an INAD process and conditional approval under Section 571.
