(1) As soon as practicable after selecting a consortium to conduct an ibogaine drug development clinical trial under Section 41-155-11, the department shall enter into an interagency contract with the lead institution of higher learning of the selected consortium to provide funding to implement the consortium’s proposed ibogaine drug development clinical trial. The funding shall be provided from funds that are specifically appropriated by the Legislature to the department for the purpose of this act.
(2) The interagency contract described by subsection (1) of this section must specify:(a) The goals and objectives of the proposed ibogaine drug development clinical trial;(b) The proposed budget;(c) The timeline for completing the proposed objectives;(d) The for-profit, nonprofit, or public benefit corporate entities collaborating with the consortium in the drug development clinical trial under this chapter;(e) The percentage of the revenue arising from the drug development clinical trial to be paid to the state; and(f) Any other information required by the department.
(a) The goals and objectives of the proposed ibogaine drug development clinical trial;
(b) The proposed budget;
(c) The timeline for completing the proposed objectives;
(d) The for-profit, nonprofit, or public benefit corporate entities collaborating with the consortium in the drug development clinical trial under this chapter;
(e) The percentage of the revenue arising from the drug development clinical trial to be paid to the state; and
(f) Any other information required by the department.
(3) As soon as practicable after entering into an interagency contract under subsection (1) of this section, the department shall report the existence of the contract to the Legislature.
(4) The department may not disburse funds to or for a selected consortium under the interagency contract described by subsection (1) of this section until the consortium receives and the department verifies the receipt of matching funds from sources other than the state.