Circassia has reached a settlement with Beyond Air regarding a disputed contract over rights to the latter’s LungFit product. Under the terms of the settlement, Circassia will surrender its rights in exchange for staged cash payments of up to $16.5m, contingent on FDA approval. Per Beyond Air’s recent statements, this is pending and could be received in H2 this year. We view this as a positive outcome for Circassia, providing a potential source of non-dilutive funding over the next few years.

26 May 2021
Settlement with Beyond Air provides optionality

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Settlement with Beyond Air provides optionality
NIOX Group Plc (NIOX:LON) | 62.0 0.6 1.6% | Mkt Cap: 260.1m
- Published:
26 May 2021 -
Author:
Chris Glasper | Edward Thomason -
Pages:
3 -
Circassia has reached a settlement with Beyond Air regarding a disputed contract over rights to the latter’s LungFit product. Under the terms of the settlement, Circassia will surrender its rights in exchange for staged cash payments of up to $16.5m, contingent on FDA approval. Per Beyond Air’s recent statements, this is pending and could be received in H2 this year. We view this as a positive outcome for Circassia, providing a potential source of non-dilutive funding over the next few years.