Argent BioPharma Ltd (ASX:RGT) is a Subiaco, Western Australia-based company focused on immune modulation and inflammatory disease, with CimetrA as a central development program, following the transition of CannEpil to a partnered licensing model. In an ASX announcement dated 29 September 2026, the company said it has entered a licence agreement with NLC Ltd, NLC Viral Defense, LLC and Dr Dorit Arad to commercialise a portfolio of antiviral products.

Scope of the licence

The agreement provides an exclusive, royalty-bearing licence to commercialise the antiviral applications of Tollovir (excluding the clinical-trial formulation NLCV-001), Tollovid and NutraVir, including related formulations, data, Trade secrets and know-how. The territory is worldwide excluding China, with existing rights of TolloHealth LLC concerning Tollovid products in the United States preserved. The Tollovid trade name is included for use outside the United States.

The transaction includes the purchase for US$1.00 of substantially all existing NutraVir inventory. Argent will run commercialisation of the licensed products alongside its commercialisation strategy for CimetrA, with associated costs shared across both programs. Argent's rights are limited to commercialisation, and any pharmaceutical development would require separate rights and regulatory approvals.

Financial terms

The company will pay a monthly licence fee of US$15,000 for 20 months from execution, reviewed annually, and tiered royalties for each of the three products: 12% on the first US$2.5 million of cumulative net sales, 9% on the next US$2.5 million and 6% thereafter. Eligible patent-maintenance payments reduce royalties payable dollar for dollar.

NLC is entitled to cash sales milestone payments of US$100,000 at cumulative net sales of US$2.5 million and a further US$125,000 at US$5 million. Subject to Shareholder approval, Argent will also issue 2,000,000 performance rights to NLC that vest at the sales milestones and convert into ordinary shares one for one. If approval is not obtained within 120 days, the parties will negotiate alternative consideration of substantially equivalent value. Argent will reimburse NLC's pre-approved legal expenses of US$30,000 plus VAT. The company states that the sales milestones are contractual payment triggers and not Revenue forecasts.

Term, rights and intellectual property

The agreement continues until August 2030 unless terminated earlier and may be extended by written agreement. Argent receives a 60-day right of first negotiation over new antiviral intellectual property derived from or related to the licensed products, which does not extend to non-antiviral applications. The licensed intellectual property includes US Patent No. 11,857,517, titled Compounds for Treating Coronavirus Infection, with related applications in Israel and Europe, and a published PCT application on a botanical antiviral composition.

Argent may terminate on 60 days' notice in specified circumstances, such as where it determines a product is not commercially viable. The agreement also provides for a US$200,000 Demand Promissory Note issued by NLC to C/M Master Fund, L.P. to be terminated and treated as satisfied on execution.

Risks and sector context

The company states that research described in NLC's scientific materials provides a rationale for further evaluation but does not establish clinical efficacy of the licensed formulations for treating viral infection or autoimmune disease. A patent grant does not constitute regulatory approval or establish clinical safety or efficacy. NutraVir is presented as a dietary supplement whose label states it is not intended to diagnose, treat, cure or prevent disease. The issue of performance rights requires shareholder approval, existing TolloHealth rights limit exclusivity in the United States, and the licence excludes China. The announcement says outcomes depend on commercial execution and does not provide sales forecasts.

For sector context, the company links infection and the host inflammatory response as a theme alongside its immune-modulation focus.

What to watch next

Items to watch include the shareholder vote on the 2,000,000 performance rights within about 120 days, the start of commercialisation of the licensed products, cumulative net sales against the US$2.5 million and US$5 million milestones, progress on CimetrA, and any additional rights negotiated with NLC for further development.