Jupiter Neurosciences Enters License Agreement With PharmAla Biotech For Perpetual Exclusive U.S. Rights To ALA-002; Deal Worth Up To $100M With Milestone Payments

Agreement expands Jupiter from a single-program company into a dual clinical-stage CNS developer. Management believes the transaction strengthens the Company through diversification across two-clinical-stage CNS assets; expanding its portfolio to include both its natural resveratrol program and a Novel Chemical Entity; near term clinical milestones; and long-term participation in U.S commercialization opportunity through perpetual exclusive rights.

Transaction Highlights

• Deal Value: Up to $100M (including milestone payments; exclusive of ongoing royalties)
• Upfront Payment: $3.3M ($1.5M cash + $1.8M JUNS common stock, 120-day lock-up)
• Development Milestone: $3.3M upon Phase 3 First Patient In
• Regulatory Milestone: $20M upon U.S. NDA Approval
• Commercial Milestones: $10M / $30M / $33.3M at $333M / $1B / $2B cumulative U.S. net sales
• Royalty: 3% of net sales (commencing after third commercialization milestone)
• Asset: ALA-002 — FDA NCE-designated, non-racemic MDMA (patented)
• Rights Granted: Perpetual, exclusive to United States