Scolr Pharma amends salt patent agreement with Temple University

By Lisa Kerner

Charlotte, N.C., July 12 - Scolr Pharma, Inc. completed an amendment to its September 2000 license agreement with Temple University related to Scolr's rights to U.S. Patent No. 6,090,411 (the salt patent).

The amendment provides for a reduction in the amount of the royalty for sales of prescription drugs covered by the license. It also reduces the annual license maintenance fee payable to Temple.

Under Temple's development policy, the inventors of the patent receive 50% of the royalty payments received by the University.

Scolr paid $400,000 in cash to the inventors of the patent, including $200,000 to a member of Scolr's board of directors, in connection with the amendment, according to a news release.

As a result, the inventors agreed to waive their rights to payment of royalties received by Temple.

Based in Bellevue, Wash., Scolr is a pharmaceutical company focused on novel over-the-counter prescription drugs and dietary supplements.

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