Juvaris BioTherapeutics

Juvaris entered into an alliance with Colby Pharmaceutical Company in 2011, where the Company granted exclusive, worldwide rights to develop and commercialize Juvaris' adjuvanted vaccine and immunotherapy technology in the field of human health. In exchange for the license, Colby will pay to Juvaris cash, development-related milestones and royalties on product sales. Additionally, Colby will bear all development and commercialization-related expenses and support certain ongoing expenses and assume certain liabilities of Juvaris. The Company has an alliance with Bayer Healthcare AG, formed in 2008, granting worldwide exclusive rights to develop and commercialize Juvaris technology in the field of animal health, in exchange for significant upfront payments, milestone payments and future royalties on product sales. Under the terms of the agreement, Bayer HealthCare AG will have complete access to develop Juvaris' immunotherapy and vaccine technology in the field of animal health.