Lumosa Therapeutics : Board Approved the Revised Exclusive Licensing Agreement for the Veterinary Analgesic

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Provided by: LUMOSA THERAPEUTICS CO., LTD.
SEQ_NO	5	Date of announcement	2022/08/09	Time of announcement	16:05:22
Subject	Lumosa Board Approved the Revised Exclusive Licensing Agreement for the Veterinary Analgesic
Date of events	2022/08/09	To which item it meets	paragraph 10
Statement	1.Date of amendment to the contract or commitment:2022/08/09 2.Counterparty of the contract or commitment:Skyline Vet Pharma, Inc. 3.Relationship with the Company:not applicable 4.Reason for amendment:Revision of the licensing terms for the veterinary analgesic. 5.Content amended: (1) The Exclusive Licensing Agreement for the long-acting analgesic injection for animals made with Skyline Vet Pharma (SVP) was amended and was originally approved by Lumosa Board on May 31st, 2022. The changes were made to reflect the adjustment of upfront fee and milestone payments to USD900,000, and the revision of the percentage of the sub-license fee and royalty payments from the sales. (2) After the revision, the upfront fee and milestone payments are reduced from USD900,000 to USD300,000, however, the percentage of sub-licensing revenue and royalty payments are increased. 6.Effect on the Company's finances or business: This matter has positive long-term and short-term effect on the company's operations. 7.Any other matters that need to be specified: (1) SVP is a US veterinary pharmaceutical development company engaged in the research, development, and marketing of veterinary pharmaceutical products. (2) The specific information regarding the milestones, sharing ratio from SVP's sub-licensing fees, and royalty payments are regarded as confidential according to the non-disclosure agreement between both parties. The revenue contributed by this agreement in the future will be disclosed monthly on the Public Information Observatory website or be released in the audited or reviewed financial reports. (3) Taiwan Ministry of Science and Technology and National Defense Medical Center licensed the exclusive development and commercialization rights and relevant technologies of LT1001 to Lumosa. In turn, Lumosa shall pay 20% of considerations from the sub-license fee to the licensor, as well as 1.875%~3.75% royalty from the sales of LT1001 long-acting analgesic injection. (4) New drug development requires a long process, vast investments, and no guarantee of success which may pose investment risks. Investors are advised to exercise caution and conduct a thorough evaluation.