ResApp has entered into a Research & Development Licence Agreement pursuant to which Pfizer and ResApp will collaborate on the research and development of products in the field of COVID-19. The key terms of the R&D Licence are as follows: Non-exclusive research and development licence in the field of COVID-19. 6-month term, though parties may agree to two extensions of 3 months each.

Each party will retain all rights to its respective intellectual property and know how during the term. Total AUD 3 million up-front licence fee, and up to AUD 1 million in milestone payments based on clinical trial recruitment. Right of First Negotiation for certain commercial transactions with third parties (including commercialisation licenses) in the COVID-19 field.

Termination by: ResApp for material breach that is not remedied; or Pfizer for convenience with 30 days' notice or for material breach that is not remedied.