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 April 6, 2017, Heat Biologics, Inc. (the Company) delivered to
Pelican Therapeutics, Inc., a Delaware corporation (Pelican), a
funding commitment for Nine Hundred Ten Thousand Two Hundred
Thirty One Dollars ($910,231) (the Funding Commitment) to
facilitate Pelicans efforts to provide the Company with a fully
executed agreement with the Cancer Prevention Research Institute
of Texas (CPRIT) with respect to its CPRIT Grant prior to the
closing of the transactions contemplated by that certain Stock
Purchase Agreement, dated March 7, 2017, as amended on March 29,
2017 (the Purchase Agreement), by and among the Company, Pelican
and Josiah Hornblower, as representative of the Pelican
stockholders. to the Funding Commitment the Company has committed
to provide Pelican with $910,231 in funds in respect of the CPRIT
Grant, in exchange for a demand promissory note in the principal
amount of $910,231 in the form attached as Exhibit F to the
Purchase Agreement. The Funding Commitment also provides that if
Pelican requests the committed funds thereunder prior to the
closing of the transactions contemplated by the Purchase
Agreement, Pelican will issue to the Company on such date, as an
origination fee and for no additional consideration, a number of
shares of Pelican common stock as results in the Company owning
fifty one percent (51%) of the Pelicans then outstanding shares
of capital stock on a fully diluted basis. The Funding Commitment
expires on May 15, 2017.

The foregoing description of the Funding Commitment is qualified
in its entirety by reference to the provisions of such Amendment,
which is filed as Exhibit 10.1 to this Current Report on Form
8-K, and is incorporated herein by reference.

Item 2.03.Creation of a Direct Funding Obligation or an
Obligation Under an Off-Balance Sheet Arrangement of a
Registrant.

On April 6, 2017, the Company delivered to Pelican the Funding
Commitment. The information regarding the Funding Commitment
contained in Item1.01 of this Current Report on Form 8-K is
incorporated by reference in this Item 2.03.

Item 9.01.Financial Statements and Exhibits.

(d)Exhibits.

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.

Heat Biologics, Inc. (NASDAQ:HTBX) Recent Trading Information

Heat Biologics, Inc. (NASDAQ:HTBX) closed its last trading session down -0.014 at 0.831 with 472,816 shares trading hands.