Proteostasis Therapeutics, Inc. (NASDAQ:PTI) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On April20, 2018, Proteostasis Therapeutics, Inc. (the “Company”) and Astellas Pharma Inc. entered into Amendment No.6 (“Amendment No.6”) to their Collaboration and License Agreement dated November4, 2014 (as amended, the “Astellas Agreement”), a collaboration formed to research and identify therapies targeting the Unfolded Protein Response pathway. Amendment No.6, effective as of April23, 2018, extends the Research Term for the Initial Project under the Astellas Agreement to December4, 2018. The Research Term for the Initial Project was previously set to expire in the Company’s second quarter of 2018.
The foregoing description of Amendment No.6 does not purport to be complete and is qualified in its entirety by reference to such agreement, which the Company intends to file as an exhibit to its next periodic report filed under the Securities Exchange Act of 1934, as amended, that corresponds to the period in which Amendment No.6 was entered into.
The above information is not an admission as to the materiality of any information therein. The Company undertakes no duty or obligation to update or revise the information contained in this report, although it may do so from time to time as its management believes is appropriate. Any such updating may be made through the filing of other reports or documents with the SEC, through press releases or through other public disclosures.
About Proteostasis Therapeutics, Inc. (NASDAQ:PTI)
Proteostasis Therapeutics, Inc. is a biopharmaceutical company. The Company is engaged in discovery and development of therapeutics that treat diseases caused by an imbalance in the proteostasis network, a set of pathways that control protein biosynthesis, folding, trafficking and clearance. It has developed the Disease Relevant Translation (DRT) technology platform, a drug screening approach for identifying highly translatable therapeutics based on predictive and functionally pertinent phenotypic assays and disease relevant models. Using this platform, it has identified a new class of small molecules, amplifiers that modulate proteins in the proteostasis network. It is developing and intend to commercialize its lead amplifier of CFTR protein, PTI-428, to improve CFTR protein function. It also focuses on developing PTI-NC-733, PTI-130, Usp14 program and unfolded protein response (UPR) program. PTI-130 is a small molecule amplifier.