NMTC - NeuroOne rallies on receiving $3.5M in accelerated milestone payment from Zimmer Biomet

• NeuroOne Medical Technologies ( NASDAQ: NMTC ) entered into an amendment to its Exclusive Development and Distribution Agreement with Zimmer Biomet ( NYSE: ZBH ) providing the company with a $3.5M accelerated payment within 10 business days which relates to certain milestone payments.
• Zimmer Biomet will receive a warrant to purchase 350K shares with an exercise price of $3/share.
• Under the Exclusive Development and Distribution Agreement signed by both parties in July 2020, Zimmer Biomet has exclusive global distribution rights to distribute the company's Cortical and sEEG diagnostic electrode technology.
• "This agreement accomplishes multiple objectives for NeuroOne, most importantly by providing additional capital to our balance sheet in the short-term without the need for a highly dilutive financing, and further reinforcing our ongoing partnership with Zimmer," CEO Dave Rosa commented.

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