ONCOMED PHARMACEUTICALS, INC. (NASDAQ:OMED) Files An 8-K Termination of a Material Definitive AgreementItem 1.02. Termination of a Material Definitive Agreement.
On July 7, 2017, OncoMed Pharmaceuticals, Inc. (the “Company”) received a letter, dated June 30, 2017 (the “Termination Letter”), from GlaxoSmithKline LLC (“GSK”) indicating that GSK was terminating the Research and Development Collaboration, Option, and License Agreement by and between the Company and GSK (formerly known as SmithKline Beecham Corporation), dated December 7, 2007, as amended from time to time (the “Agreement”), in its entirety. Such termination will become effective on the date that is 120 days after the date of the Termination Letter. In the Termination Letter, GSK indicated that it was terminating the Agreement because it had decided not to exercise its option for tarextumab (anti-Notch2/3, OMP-59R5), which was the last remaining program under the Agreement. No early termination penalties will be incurred by the Company as a result of the termination of the Agreement. As of June 30, 2017, GSK beneficially owned 2,607,546 shares (approximately 6.93%) of the Company’s common stock.
A summary of the material terms of the Agreement was included in the Company’s Annual Report on Form 10-K filed on March9, 2017, which is qualified in its entirety by reference to the full text of the Agreement (filed as Exhibit 10.1(A) to the Company’s Registration Statement on Form S-1/A filed on July 5, 2012 and incorporated herein by reference) and the amendments thereto (filed as Exhibit 10.1(B) to the Company’s Registration Statement on Form S-1/A filed on July 5, 2012 and Exhibit 10.1(C) to the Company’s Registration Statement on Form S-1/A filed on October 25, 2012, and incorporated herein by reference).
About ONCOMED PHARMACEUTICALS, INC. (NASDAQ:OMED)
OncoMed Pharmaceuticals, Inc. (OncoMed) is a clinical development-stage biopharmaceutical company. The Company focuses on discovering and developing anti-cancer stem cell (CSC) and immuno-oncology therapeutics. The Company’s product candidates and preclinical programs include Demcizumab (Anti-DLL4, OMP-21M18), Tarextumab (Anti-Notch2/3, OMP-59R5), Vantictumab (anti-Fzd7, OMP-18R5), Ipafricept (Fzd8-Fc, OMP-54F28), Brontictuzumab (Anti-Notch1, OMP-52M51), Anti-DLL4/VEGF Bispecific (OMP-305B83), Anti-RSPO3 (OMP-131R10) and GITRL-Fc. The Company’s Demcizumab is a humanized monoclonal antibody that inhibits Delta-like Ligand 4 (DLL4), in the Notch signaling pathway. Tarextumab is an antibody that binds to both the Notch2 and Notch3 receptors. Ipafricept is the Company’s Wnt pathway modulator. GITRL-Fc is a preclinical product candidate targeting glucocorticoid-induced tumor necrosis factor receptor related protein.