Seelos therapeutics announces amendment of sls-002 agreement to repurchase the remaining royalties payable to phoenixus ag for sls-002 (intranasal racemic ketamine program), all future success and commercial based milestones and the change of control fee

New york , april 11, 2022 /prnewswire/ -- seelos therapeutics, inc. (nasdaq: seel), a clinical-stage biopharmaceutical company focused on the development of therapies for central nervous system disorders and rare diseases, announced today an amendment of the agreement with phoenixus ag, formerly known as vyera pharmaceuticals ag ("vyera"), for the development of sls-002 (intranasal racemic ketamine) to repurchase in cash and stock the remaining royalties payable on any future net sales of sls-002, all future success and commercial based milestones and the change of control fee in the event sls-002 is acquired.   on march 6, 2018, seelos entered into an asset purchase agreement (the "purchase agreement") with vyera, currently known as phoenixus ag, to acquire the assets and liabilities of vyera's intranasal racemic ketamine program, which seelos now calls sls-002.
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