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Tekmira Receives $14.5M Payment from Monsanto

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Tekmira Pharmaceuticals this week announced that it has received a $14.5 million milestone payment from Monsanto under the terms of a technology and intellectual property option deal.

This month, the companies announced an agreement under which Monsanto acquired an option to license exclusive rights to Tekmira's RNAi delivery technology and IP for agricultural applications.

According to Tekmira, it stands to receive an additional $2 million from Monsanto in near-term payments under the arrangement, as well as additional money if the option is exercised.

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