Rock Creek Pharmaceuticals's Comment on Sales, Marketing and Customers
The Roskamp Institute is a private nonprofit medical research organization in
Sarasota, Florida whose stated purpose is understanding causes of and finding
cures for neuropsychiatric and neurodegenerative disorders and addictions. Dr.
Mullan, our Chief Executive Officer, is a co-founder of the Roskamp Institute
and formerly served as the Chief Executive Officer of the Roskamp Institute. Dr.
Mullan is also a member of the Board of Directors for the Roskamp Institute and
provides consulting services from time to time.
We have entered into a Research and Royalty Agreement with an affiliate of the
Roskamp Institute pursuant to which we were obligated to pay royalties of 5% of
Anatabloc® sales (such royalties being equal to approximately. These royalties
have been reclassified to discontinued operations in our consolidated statements
of operations.
In 2014, we entered into a Master Services Agreement and a Royalty Agreement with
the Roskamp Institute and SRQ Bio LLC, pursuant to which we engaged their research
services on various projects, under terms and conditions as described in Task
Orders (as defined in the Agreements). These projects relate to our ongoing drug
development programs and the Developed Products or Services (as defined in the
Agreements), arising from these projects, if successfully commercialized, may
require Royalty payments from us of 5% of any proceeds received by us. To date
no royalty payments have been paid or are payable under these current projects.
