Heat Biologics, Inc. (NASDAQ:HTBX) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement
On June 21, 2021, Heat Biologics, Inc. (the Company) entered into a lease (the Lease) with Durham Keystone Tech 7, LLC (the Landlord), to which the Company will lease approximately 15,996 square feet of office and lab space located at Keystone Tech 7, 627 Davis Drive, Suite 300 Morrisville, North Carolina 27560 (the New Premises) for its new principal executive offices. The date on which the Company will become responsible for paying rent under the Lease (the Rent Commencement Date) will be the earlier of (i) the date the Company takes possession of any part of the premises for purposes of conducting business or (ii) the date the landlord substantially completes the landlord work and tenant improvements at the New Premises. The initial term of the Lease will commence on the Rent Commencement Date and expire ninety-six (96) months after the Rent Commencement Date, unless sooner terminated. The Lease also provides for an option for the Company to extend the Lease for one five-year period at fair market rent, as defined in the Lease. The Companys monthly base rent for the New Premises will start at approximately $43,655.75 commencing on the Rent Commencement Date and will increase on an annual basis up to a maximum monthly base rent of approximately $53,693.24. The Company will be obligated to pay the landlord for certain costs, taxes and operating expenses as specified in the Lease.
The expansion will support the addition of enhanced research and development capabilities for the Companys preclinical and clinical programs including equipment for in-house synthesis of antibodies and other drugs/reagents; as well as an expanded vivarium for onsite pre-clinical studies.
The foregoing description of the Lease does not purport to be complete and is qualified in its entirety by reference to the Lease, a complete copy of which is incorporated herein by reference and is filed as Exhibit 10.1 to this Current Report on Form 8-K.
Item 102 Termination of a Material Definitive Agreement
On the day immediately preceding the Rent Commencement Date, the Company will terminate its current lease which it entered into with Durham KTP Tech 7, LLC dated April 17, 2019
Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under an Off-balance Sheet Arrangement of a Registrant.
The descriptions of the Lease in Item 1.01 Entry into a Material Definitive Agreement of this Current Report on Form 8-K are incorporated by reference in their entirety into this Item 2.03.
Item 9.01 Financial Statements and Exhibits.
HEAT BIOLOGICS, INC. Exhibit
EX-10.1 2 htbx_ex10z1.htm LEASE Lease EXHIBIT 10.1 LEASE KEYSTONE TECHNOLOGY PARK DURHAM KEYSTONE TECH 7,…
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About Heat Biologics, Inc. (NASDAQ:HTBX)
Heat Biologics, Inc. is a development-stage company focused on developing allogeneic, off-the-shelf cellular therapeutic vaccines to combat a range of cancers. The Company is an immuno-oncology company, which focuses on T cell-stimulating platform technologies, such as Immune Pan-Antigen Cytotoxic Therapy (ImPACT) and Combination Pan-Antigen Cytotoxic Therapy (ComPACT). Using its ImPACT platform technology, the Company has developed HS-410 (vesigenurtacel-L) as a product candidate to treat non-muscle invasive bladder cancer (NMIBC), and HS-110 (viagenpumatucel-L), which is intended for use in combination with an anti-PD-1 checkpoint inhibitor, as a potential treatment for patients with non-small cell lung cancer (NSCLC). Using its ComPACT platform technology, it has developed HS-120 as a potential treatment for NSCLC. It is conducting a Phase II trial of HS-410 in patients with NMIBC, and a Phase Ib trial of HS-110, in combination with nivolumab (Opdivo) to treat patients with NSCLC.