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Subsequent Events
9 Months Ended
Sep. 30, 2020
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 8 – SUBSEQUENT EVENTS

 

Augmenta Bioworks Agreement

 

On November 1, 2020, the Company entered into a joint development and collaboration agreement (the "Agreement") with Augmenta Bioworks, Inc. ("Augmenta" pursuant to which the parties have agreed to collaborate on the joint development of novel commercial products incorporating Augmenta's human-derived monoclonal antibodies ("mAbs") for potential COVID-19 therapeutics. Under the terms of the Agreement, both companies will collaborate to develop one or more commercial therapeutics utilizing the Company's Thin-Film Freezing technology to manufacture dry powder formulations of Augmenta's mAbs for inhalation delivery directly to the lungs of patients.

 

Letter of Intent with Felix Biotechnology

 

On November 2, 2020, the Company signed a Letter of Intent with Felix Biotechnology, Inc. ("Felix") reflecting the parties' non-binding agreement in principle to negotiate and enter into a collaboration, development and license agreement. Under the proposed agreement, Felix will obtain a non-exclusive license to the Company's Thin-Film freezing technology to develop and manufacture dry powder formulations of specified Felix bacteriophage products for inhalation delivery directly to the lungs of patients. Felix would agree to pay the Company an upfront payment, development milestones, commercial milestones and royalties on net sales of the Felix phage products.