Eloxx Pharmaceuticals, Inc. (OTCMKTS:ELOX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March12, 2018, the Board approved, and on March13, 2018, the Company entered into, a Memorandum of Understanding (the “Noiman Agreement”) with Dr.Silvia Noiman, Ph.D., a member of the Board. The Noiman Agreement was made in connection with the Company’s termination of its consulting service relationship with Dr.Noiman on January15, 2018. Under the Noiman Agreement, Dr.Noiman shall receive 900,000 NIS in cash within ten days of the effective date of the Noiman Agreement. The Company will also grant Dr.Noiman a fully-vested option to purchase 141,389 shares of the Company’s common stock and 141,389 fully vested shares of the Company’s common stock, as soon as practicable after adoption of the 2018 Plan.
The foregoing descriptions of the material terms of the Huertas Agreement, the Weaver Agreement and the Noiman Agreement do not purport to be complete and are subject to, and are qualified in their entirety by, reference to the full terms of the Huertas Agreement, the Weaver Agreement and the Noiman Agreement, each of which the Company intends to file as exhibits to the Company’s Annual Report on Form 10-K for the fiscal year ended December31, 2017.
About Eloxx Pharmaceuticals, Inc. (OTCMKTS:ELOX)
Eloxx Pharmaceuticals, Inc., formerly Sevion Therapeutics, Inc., is a development-stage biotech company. The Company is engaged in building and developing a portfolio of therapeutics, from both internal discovery and acquisition, for the treatment of cancer and immunological diseases. The Company is engaged in the development and licensing of technology to discover and engineer monoclonal antibodies. The Company’s product candidates are derived from multiple technology platforms, such as cell-based arrayed antibody discovery, ultralong antibody scaffolds and Chimerasome nanocages. The Company has various antibodies in its preclinical pipeline. The Company’s antibody therapeutic candidates target the potassium channel, voltage dependent (Kv1.3) ion channel, which is essential in the pathogenesis of several autoimmune and inflammatory disorders. Other antibodies in its pipeline target cell surface molecules involved in cancer progression. Eloxx Pharmaceuticals, Inc. (OTCMKTS:ELOX) Recent Trading Information
Eloxx Pharmaceuticals, Inc. (OTCMKTS:ELOX) closed its last trading session down -0.10 at 7.00 with shares trading hands.