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APRI > SEC Filings for APRI > Form 8-K on 10-Feb-2014All Recent SEC Filings

Show all filings for APRICUS BIOSCIENCES, INC.



Entry into a Material Definitive Agreement, Other Events, Financial Sta

Item 1.01 Entry into a Material Definitive Agreement.

On February 10, 2014, Apricus Biosciences, Inc. (the "Company") entered into an exclusive license agreement with Recordati Ireland Ltd., a subsidiary of Recordati S.p.A. ("Recordati"), whereby the Company granted Recordati exclusive rights to market the Company's Vitaros® drug for the treatment of erectile dysfunction in Spain, Russia, Turkey, Ireland and certain other European and African countries.

Pursuant to the agreement, the Company is eligible to receive up to approximately $50 million in license fees over the term of the agreement. Such license fees include up to approximately $3.8 million in upfront and launch milestone payments and up to approximately $47 million in sales milestones, as well as double-digit tiered royalties based on Recordati's net sales of the product in the licensed territory.

Item 8.01 Other Events.

On February 10, 2014, the Company provided an update to its corporate presentation. The presentation is currently available on the Company's website and filed herewith as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Description
99.1 BIO CEO Presentation, February 10, 2014

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