Forward Pharma Gets $1.25 Bln On Settlement And License Deal With Biogen

(RTTNews) - Forward Pharma A/S (FWP) said that it has received a non-refundable cash fee of US$1.25 billion in connection with the execution and delivery of a Settlement and License Agreement with two wholly owned subsidiaries of Biogen Inc. and certain other parties.

On January 17, 2017 Forward entered into the License Agreement subject to the approval of its shareholders and certain other limited customary conditions. Forward obtained approval of the entry into the License Agreement by the requisite two-thirds majority of the votes cast as well as the share capital represented at an extraordinary general meeting held on February 1, 2017. The terms of the License Agreement required the US$ 1.25 billion cash fee to be paid within five business days of the Extraordinary General Meeting.