Oculus Innovative Sciences, Inc. (OCLS),a California-based nutrition and drug company, Thursday said it received a $5.1 million payment in view of a licensing agreement it executed on August 9, 2012, with More Pharma.
More Pharma had agreed earlier to pay an upfront $5.1 million fee for the exclusive licensing of Oculus' Microcyn-based human healthcare products in Mexico, South/Central America and the Caribbean.
Further, More Pharma will underwrite all costs for regulatory reviews and approval efforts needed for the transition of the marketing and sales effort in the aforementioned countries, said Oculus.
Wednesday, Oculus closed at $0.94 on the Nasdaq.
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