EYEGATE PHARMACEUTICALS, INC. (NASDAQ:EYEG) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry Into a Material Definitive Agreement.
On September 26, 2018, EyeGate Pharmaceuticals,Inc. (the “Company”) entered into an Intellectual Property License Agreement (the “Agreement”) with SentrX Animal Care, Inc. (“SentrX”), with respect to certain rights relating to the manufacturing of the Company’s EyeGate Ocular Bandage Gel (“OBG”) product candidate. Under the Agreement, SentrX granted to the Company an exclusive license to use SentrX’s procedures, trade secrets, know-how and other relevant intellectual property in connection with the production of OBG.
Under the Agreement, the Company will pay SentrX an upfront payment of $250,000. SentrX is eligible to receive milestone payments totaling up to $4.75 million, upon and subject to the achievement of certain specified developmental and commercial milestones.
In connection with the transfer of technology from SentrX to the Company, SentrX agreed to provide up to five hours of support per week from the effectiveness of the Agreement through December 31, 2018 and up to ten hours of support per week from January 1, 2019 through April 30, 2019. Additionally, EyeGate agreed to maintain adequate and competent personnel (or sub-contractors) to exploit OBG in accordance with the terms of the Agreement until all applicable milestone payments have been made to SentrX.
Either party may terminate the Agreement in its entirety if the other party fails to comply with the material terms and conditions the Agreement and the breach remains uncured for a defined cure period, and either party may terminate the Agreement in its entirety upon the bankruptcy or insolvency of the other party.
The foregoing description of the Agreement does not purport to be a complete description of all of the terms of the Agreement, and is qualified in its entirety by reference to the full text of the Agreement, a copy of which is filed as Exhibit 10.1 hereto. Certain terms of the Agreement have been omitted from this Current Report on Form 8-K and have been omitted from the version of the Agreement filed as Exhibit 10.1 hereto to a Confidential Treatment Request that the Company plans to submit to the Securities and Exchange Commission at the time of the filing of this Current Report on Form 8-K.
Item 8.01. Other Events.
On October 2, 2018, the Company issued a press release announcing its entry into the Agreement. A copy of the press release is being filed herewith as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
The Company hereby files the following exhibit:
† Confidential treatment requested as to portions of the exhibit. Confidential materials omitted and filed separately with the Securities and Exchange Commission.
EYEGATE PHARMACEUTICALS INC ExhibitEX-10.1 2 tv503967_ex10-1.htm EXHIBIT 10.1 Exhibit 10.1 CONFIDENTIAL TREATMENT REQUESTED The confidential portions of this exhibit have been delivered separately to the Securities and Exchange Commission pursuant to a confidential application for confidential treatment in accordance with Rule 24b-2 under the Securities Exchange Act of 1934,…To view the full exhibit click here
About EYEGATE PHARMACEUTICALS, INC. (NASDAQ:EYEG)
Eyegate Pharmaceuticals, Inc. is a clinical-stage specialty pharmaceutical company. The Company is focused on developing and commercializing therapeutics and drug delivery systems for treating diseases of the eye. The Company’s lead product, EGP-437, incorporates a reformulated topically active corticosteroid, dexamethasone phosphate, which is delivered into the ocular tissues through its drug delivery system, the EyeGate II Delivery System. The Company is developing EGP-437 for the treatment of various inflammatory conditions of the eye, including uveitis, a debilitating form of intraocular inflammation of the anterior portion of the uvea, such as the iris and/or ciliary body, and macular edema, an abnormal thickening of the macula associated with the accumulation of excess fluids in the extracellular space of the neurosensory retina. The EyeGate II Delivery System is designed to deliver optimal quantities of drugs to the anterior or posterior segments of the eye.
