Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On November17, 2017, Agios Pharmaceuticals, Inc. (the “Company”) entered into a lease (the “Lease”) with UP 64 Sidney Street, LLC (the “Landlord”), to which the Company will lease approximately 27,100 square feet of office and laboratory space located at 64 Sidney Street, Cambridge, Massachusetts (the “New Premises”). The date on which the Company will become responsible for paying rent under the Lease (the “Rent Commencement Date”) will be the earlier of February15, 2018 or the date upon which the Company first begins conducting business at the New Premises. The initial term of the Lease will be for a seven-year period commencing on the Rent Commencement Date, unless sooner terminated. The Lease also provides the Company with an option to extend the Lease for two consecutive five-year periods at fair market rent, as defined in the Lease, as well as certain rights with respect to leasing additional space adjacent to the New Premises, as more particularly described in the Lease. The Company’s monthly base rent for the New Premises will start at approximately $181,000 commencing on the Rent Commencement Date and will increase on an annual basis up to a maximum monthly base rent of approximately $216,000.
In connection with the Lease, on November17, 2017, the Company entered into a Third Amendment to Lease (the “Third Lease Amendment”) with Forest City 88 Sidney Street, LLC (the “Existing Landlord”). The Third Lease Amendment amends certain terms of the Company’s existing lease with the Existing Landlord, dated September15, 2014 and as amended on November21, 2014 and July20, 2015 (the “Existing Lease”), to which the Company leases office space located at 88 Sidney Street, Cambridge, Massachusetts (the “Existing Premises”). The Third Lease Amendment, which is effective as of November17, 2017, extends the initial term of the Existing Lease from April14, 2022 (the “Original Expiration Date”) through the seventh anniversary of the Rent Commencement Date (the “Modified Expiration Date”) so that it is coterminous with the Lease described in the paragraph above. The Company’s extension options under the Existing Lease shall continue to be exercisable as set forth in the Existing Lease. In addition, under the Third Lease Amendment, the monthly base rent for the Existing Premises will increase to approximately $1.1million on the Original Expiration Date, and will increase each year thereafter up to $1.2million on the Modified Expiration Date.
The foregoing description is a summary of certain terms of the Lease and the Third Lease Amendment, and, by its nature, is incomplete. It is qualified in its entirety by the text of the Lease and the Third Lease Amendment, copies of which are filed as exhibits 10.1 and 10.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.
| Item 1.01 | Financial Statements and Exhibits. |
(d) Exhibits.
AGIOS PHARMACEUTICALS INC ExhibitEX-10.1 2 d424503dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 LEASE 64 SIDNEY STREET Cambridge,…To view the full exhibit click here
About Agios Pharmaceuticals, Inc. (NASDAQ:AGIO)
Agios Pharmaceuticals, Inc. is a biopharmaceutical company. The Company is engaged in the discovery and development of orally available small molecule medicines for the treatment of cancer and rare genetic disorders (RGDs), which are a subset of orphan genetic metabolic diseases. Its cancer product candidates are AG-221 and AG-120, which targets mutated isocitrate dehydrogenase 2 and 1, or IDH2 and IDH1, respectively, and AG-881, which targets both mutated IDH1 and mutated IDH2. The lead product candidate in its RGD programs, AG-348, targets pyruvate kinase-R for the treatment of pyruvate kinase deficiency. Its AG-221 is an orally available, selective, inhibitor of the mutated IDH2 protein indicated for the treatment of patients with cancers. Its AG-120 is an orally available, selective, inhibitor of the mutated isocitrate dehydrogenase (IDH1) protein for the treatment of patients with cancers. AG-881 is an orally available, selective, brain-penetrant, pan-IDH mutant inhibitor.