On the Company entered into a license and collaboration agreement (the “License Agreement”) with Ahon Pharmaceutical Co Ltd. (“Ahon Pharma”), which grants Ahon Pharma exclusive rights to develop and commercialize for acute ischemic stroke in mainland China, Taiwan, Hong Kong S.A.R. and Macau S.A.R. Under the terms of the agreement, the Company received a non-refundable upfront payment of upon signing the License Agreement and is entitled to receive an additional non-refundable payment of million upon the earlier of regulatory clearance to initiate a clinical trial in China or The Company also has the potential to receive up to an additional million in development and sales related milestones and up to approximately royalties on net sales of in the licensed territories. All development, regulatory, sales, marketing, and commercial activities and associated costs in the licensed territories will be the sole responsibility of Ahon Pharma. The License Agreement be terminated at any time by Ahon Pharma by providing days written notice.

 

Ahon Pharma is a subsidiary of Shanghai Fosun Pharmaceutical (Group) co. Ltd. (“Fosun Pharma”) which, through its partnership with SK Group, a South Korea based company, is an investor in DiaMedica, holding approximately of our common shares as of This investment was made in