Citius Pharmaceuticals, Inc. (OTCMKTS:CTXR) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement
On March 20, 2017, Leonard-Meron Biosciences, Inc. (the
Licensee), a subsidiary of Citius Pharmaceuticals, Inc. (the
Registrant), entered into a Second Amendment (the Second
Amendment) to the Patent and Technology License Agreement
(together with the Second Amendment, the Agreement) with Novel
Anti-Infective Technologies, LLC (the Licensor). The Agreement
grants Licensee the rights to develop and commercialize Mino-Lok
on an exclusive, worldwide, sub-licensable basis. Under the
Agreement, Licensee paid Licensor $340,000 in upfront fees, and
is required to make payments of up to $1.39 million for
maintenance fees and achievement of milestones, as well as
additional royalties on net sales of licensed products. The
Second Amendment expanded the licensed territory to include South
America, providing the Licensee with worldwide rights, and
amended payments and fees to reflect the expanded territory.
The foregoing descriptions of the Second Amendment and the
Agreement are not complete and are qualified in their entirety by
reference to the full text of the Second Amendment and Agreement,
which will be listed as exhibits to the Registrants Quarterly
Report on Form 10-Q for the fiscal quarter ended March 31, 2017.
The Registrant issued a press release dated March 23, 2017,
announcing the Second Amendment. A copy of this press release is
attached hereto as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits.
|
Exhibit No. |
Description of Exhibit |
|
99.1 |
Press Release dated March 23, 2017. |
About Citius Pharmaceuticals, Inc. (OTCMKTS:CTXR)
Citius Pharmaceuticals, Inc., formerly Trail One, Inc., is a pharmaceutical company engaged in developing and commercializing therapeutic products. The Company focuses on developing formulations to manage the delivery and compliance of approved drugs. The Company offers Suprenza, an orally disintegrating tablet and an obesity drug that can be administered with water or dissolved on tongue. The Company also focuses on development of its product candidate, Hydrocortisone-Lidocaine Cream, which is in Phase II study. Its Hydrocortisone-Lidocaine Cream is used to provide anti-inflammatory and anesthetic relief to persons suffering from grade I and II hemorrhoids. Citius Pharmaceuticals, LLC is its subsidiary. The Company has not generated any revenues. Citius Pharmaceuticals, Inc. (OTCMKTS:CTXR) Recent Trading Information
Citius Pharmaceuticals, Inc. (OTCMKTS:CTXR) closed its last trading session up +0.006 at 0.430 with 25,675 shares trading hands.
