ARALEZ PHARMACEUTICALS INC. (NASDAQ:ARLZ) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
On December6, 2018, Aralez Pharmaceuticals Canada Inc. (“Aralez Canada”), a subsidiary of Aralez Pharmaceuticals Inc. (the “Company”), and the Company announced that Aralez Canada and the Company signed an Asset Purchase Agreement with Intercept Pharmaceuticals,Inc. (“Intercept”) to which Aralez Canada has agreed, among other things, to assign to Intercept its license to develop bezafibrate products within the United States of America, to assign to Intercept certain regulatory documentation related to the development of bezafibrate products in the United States of America and to non-exclusively license to Intercept certain of its intellectual property for the development and sale of bezafibrate products in the United States of America. Closing of the transaction is subject to the satisfaction or waiver of customary conditions, including approval of the transaction by the Superior Court of Ontario (Commercial List).
The foregoing is only a brief description of the terms of the agreement. Please refer to the Company’s filings under the Companies’ Creditors Arrangement Act (Canada) for the text of the agreement.