Medytox Signs License Agreement with Ion Biopharma

[Asia Economy Reporter Minji Lee] Medytox announced on the 22nd that it has signed a license agreement with AEON Biopharma Inc. following the final ruling of the U.S. International Trade Commission (ITC).

According to the agreement, AEON Biopharma will hold the rights to manufacture and commercialize ABP-450 in the United States and all other countries under the license granted by Medytox. Accordingly, AEON Biopharma will pay Medytox royalties on the net sales of the product for 15 years. Additionally, AEON plans to issue 26,680,511 common shares, equivalent to 20% of its currently issued shares, to Medytox at par value. With this agreement, Medytox intends to withdraw its trade secret misappropriation claims filed against AEON Biopharma in California.

The company stated, “We will withdraw the lawsuit related to the final ruling issued by the ITC on December 16 last year,” and added, “This agreement is expected to nullify the ITC’s final decision, reflecting that Medytox’s claims against the ITC’s remedial orders have been settled.”