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NeuroSearch A/S receives notice of payment from Teva Pharmaceutical International GmbH regarding Pridopidine and changes financial outlook for 2018
8 September 2018
On 16 May 2018, NeuroSearch A/S ("NeuroSearch") entered into an agreement with, among others, Teva Pharmaceutical International GmbH ("Teva") (the "Agreement") to release Teva from all outstanding obligations pursuant to the agreement from 2012 concerning the transfer of NeuroSearch's rights in and to Pridopidine. NeuroSearch has been informed that Teva has completed a definitive agreement relating to the sale and transfer of Teva's right in and to Pridopidine with effect from 9 September 2018, and that NeuroSearch therefore pursuant to the Agreement will receive a cash payment of USD 450,000.
As a result of NeuroSearch receiving the cash payment of USD 450,000, NeuroSearch changes the financial outlook to 2018 from a loss of approximately DKK 5 million to a loss of approximately DKK 2-3 million.
Allan Andersen, CEO, mobile telephone 4016 3864.
NeuroSearch A/S (NEUR) is listed on Nasdaq Copenhagen A/S.