Arno Therapeutics, Inc. has terminated its licensing agreement with Ohio State University (OSU), an educational university, for AR-12 and AR-42 product candidates. Earlier, on May 15, 2015, Arno Therapeutics amended its licensing agreement with OSU, for OSU-03012 (AR-12) and OSU-HDAC42 (AR- 42). Earlier, on January 28, 2008, Arno Therapeutics entered into licensing agreement with Ohio State University (OSU). Under the agreement, Arno Therapeutics received exclusive worldwide rights to commercially develop OSU-03012, OSU-HDAC42 and other small molecules used in the treatment of cancer. As of October 12, 2016, Arno has paid one-time cash payments to OSU of USD0.45 million in 2008 and reimbursed it for past patent expenses. In addition, Arno will pay performance-based cash payments upon successful completion of clinical and regulatory milestones relating to AR-12 and AR-42 in the US, Europe and Japan and an aggregate potential milestone payments of up to USD 6.1 million for AR-12, of which USD 5 million is due only after marketing approval in the US, Europe and Japan, and USD 5.1 million for AR-42, of which USD 4 million is due only after marketing approval in the US, Europe and Japan, for AR-12 and AR-42. In September 2009, Arno Therapeutics has paid a milestone payment upon the commencement of the phase I clinical study of AR-12 along with royalties on net sales of products in the low-single digits. OSU-03012 is used in the treatment of apoptosis and angiogenesis where as OSU-HDAC42 is used in solid and tumors.