On February 5, 2015 RXi Pharmaceuticals reported the closing of its previously disclosed exclusive global license agreement for the therapeutic use of Samcyprone with Hapten Pharmaceuticals, LLC (Press release, RXi Pharmaceuticals, FEB 5, 2015, View Source;FID=27469217 [SID:1234503089]).

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Under the terms of the license agreement, Hapten received a one-time upfront cash payment of $100,000 and 200,000 shares of RXi common stock. Hapten will also be entitled to receive future milestone payments tied to the achievement of certain clinical and commercial objectives, such as the enrollment of the first patient in a Phase 3 clinical trial and regulatory approval, and escalating royalties based on product sales.