Interleukin Genetics,Inc. (OTCMKTS:ILIU) Files An 8-K Entry into a Material Definitive Agreement
ITEM 1.01
| Entry into a Material Definitive Agreement. |
The disclosure set forth below under Item 5.02(b) is incorporated
herein by reference.
| ITEM 5.02 |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(b)On December 22, 2016, Roger C. Colman, a director of
Interleukin Genetics, Inc. (the Company), informed the Company
that he was resigning as a director effective as of the close of
business on December 30, 2016. to the terms of the Securities
Purchase Agreement, dated July 29, 2016, by and among the Company
and the investors identified on Schedule I thereto (the
Agreement), Mr. Colman served as a director designated by Pyxis
Innovations, Inc. (Pyxis). Mr. Colman informed the Company that
he was retiring from Pyxis and was also resigning as a director
of the Company. Under the terms of the Agreement, Pyxis has the
right to appoint a successor to replace Mr. Colman as its
designee to the Board. Pyxis has, however, irrevocably waived its
right under the Agreement to designate this representative to be
nominated for election to the Board and to replace any such
designated Board member in the event such Board member ceases to
serve as a director for any reason. Pyxis retains the right under
the Agreement to appoint one other board member (currently Joseph
Landstra).
About Interleukin Genetics, Inc. (OTCMKTS:ILIU)
Interleukin Genetics, Inc. develops and markets genetic tests for chronic diseases and health-related conditions. The Company operates through the genetic test business segment. The Company’s products include PerioPredict genetic test and Inherent Health line of genetic tests. PerioPredict is a genetic risk test that analyzes genetic variations associated with inflammation and identifies individuals with a life-long predisposition to over-produce inflammation. PerioPredict identifies specific polymorphisms (genetic variations) in genes that regulate the production of interleukin-1 cytokines. PerioPredict identifies adults at increased risk for severe periodontal disease. The Company markets additional genetic tests through its Inherent Heath brand. Its additional genetic tests include weight management genetic test, bone health genetic test, heart health genetic test, nutritional needs genetic test and wellness select genetic test. Interleukin Genetics, Inc. (OTCMKTS:ILIU) Recent Trading Information
Interleukin Genetics, Inc. (OTCMKTS:ILIU) closed its last trading session up +0.023 at 0.128 with 46,330 shares trading hands.
