In addition, summit therapeutics plc`s technical support agreement has been transferred to its wholly-owned subsidiary, Summit (Oxford) Limited. The revenue-sharing agreement, unless terminated earlier, expires at the subsequent expiry of the last patent or patent application for ridinilazole; the expiration of any payment agreement or obligation entered into by the Company with a third party in connection with the marketing of ridinilazole; and the expiration of any payment obligation to the Wellcome Trust in connection with the marketing of ridinilazole. The agreement follows a funding agreement with the Wellcome Trust in October 2012 that provided funding for the Phase 1 and PHASE II clinical trials of ridinilazole, which have since been completed. The revenue sharing agreement will terminate Wellcome Trust`s rights under the TA agreement on the development or commercialization of ridinilazole or the intellectual property associated with it if Summit has not been able to do so. In order to find a balance between translation incentives and meeting our public utility obligations, we have decided to simplify our standard revenues and equity shares at a flat rate of 25% as part of our grants. OXFORD, United Kingdom, Nov. If the intellectual property financed by Wellcome is commercialized and income and/or equity is generated, a share must be returned to us. Our standard share is 25%, but we may reduce it in accordance with the provisions of this policy. If you choose this app, it must be included in your annual consolidated report on intellectual property and marketing. If we have other reporting agreements with you, please contact innovationsoperations@wellcome.org to apply. We will review applications on a case-by-case basis, and any income or equity retained will be subject to the Terms. Under the terms of the agreement, the Wellcome Trust is entitled to receive a share of the «average one-digit percentage» of the net income Summit receives from the sale of ridinilazole if the drug is marketed by a third party.

Instead, we give your consent retroactively under our standard income and capital participation agreement when you report marketing to us (see section 5). .