”Whilst BOT does not own the patent for Permetrex, it does have...

”Whilst BOT does not own the patent for Permetrex, it does have worldwide exclusive rights to its use with any drug actives that can be used to treat skin diseases. The Permetrex license provides opportunities for BOT to expand its pipeline of novel skin disease treatments. ”

“Permetrex is patented by Dr. Eugene Cooper, who in turn has licensed it to BOT for worldwide exclusive use with any active that can be used to treat skin diseases. Under the terms of the licensing agreement BOT must pay Dr Cooper a royalty of 5% of net sales of each licensed product utilising the Permetrex drug delivery system. BOT must also pay Dr Cooper the following fixed milestone lump sums:

1. US$50,000 upon commencement of the first human trial of a licensed product;

2. US$50,000 upon acceptance of filing for regulatory approval for themanufacture, distribution, use and sale of the first licensed product;

and,3. US$100,000 upon the receipt of regulatory approval for the manufacture,distribution, use and sale of the first licensed product.”

^details of the agreement