RA PHARMACEUTICALS, INC. (NASDAQ:RARX) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
On March 11, 2020, Ra Pharmaceuticals, Inc., a Delaware corporation (the “Company”) and HCP/King 87 CPD LLC, a Delaware limited liability company (“Landlord”), entered into a Second Amendment (the “Amendment”) to the Lease Agreement, dated September 15, 2015, by and between the Company and Landlord (as amended, the “Lease”), to which the Company leases approximately 26,757 rentable square feet (the “Existing Premises”) in a building located at 87 CambridgePark Drive, Cambridge, Massachusetts (the “Building”), which serves as the Company’s corporate headquarters.
The Amendment provides for (i) the extension of the term of the Lease with respect to the Existing Premises for a period of time commencing on May 1, 2023 and expiring on the date that is the later of (x) June 30, 2031 and (y) last day of the calendar month in which the tenth anniversary of the Expansion Premises Rent Commencement Date (as defined in the Amendment) occurs (the “Extended Expiration Date”), and (ii) the expansion of the Existing Premises to include approximately 37,186 rentable square feet on the second floor of the Building (the “Expansion Premises”) with a term beginning on or about January 1, 2021 and ending on the Extended Expiration Date.
Under the Amendment, the Company is obligated to pay Landlord (i) an initial annual base rent of approximately $2.0 million for the Existing Premises beginning May 1, 2023, which amount will increase annually by three percent of the then-current base rent, and (ii) an initial annual base rent of approximately $2.6 million for Expansion Premises beginning on the Expansion Premises Rent Commencement Date, which amount will increase annually by three percent of the then-current base rent.
The foregoing description of the Amendment does not purport to be complete, and is qualified in its entirety by reference to the full text of the Amendment, which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
|Exhibit 10.1||Second Amendment to Lease Agreement, dated March 11, 2020, by and between Ra Pharmaceuticals, Inc. and HCP/King 87 CPD LLC.|
Ra Pharmaceuticals, Inc. Exhibit
EX-10.1 2 tm2012729d1_ex10-1.htm EXHIBIT 10.1 Exhibit 10.1 87 CambridgePark Drive Cambridge,…
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About RA PHARMACEUTICALS, INC. (NASDAQ:RARX)
Ra Pharmaceuticals, Inc. is a United States-based clinical-stage biopharmaceutical company. The Company focuses on the development of therapeutics for diseases of complement dysregulation and a range of orphan indications. It utilizes small molecules and peptide approaches to address pathological targets in the complement cascade. It has leveraged the Extreme Diversity peptide chemistry platform to develop a portfolio of products that selectively inhibit the complement system and other immune targets. Its main program, RA101495, is a macrocyclic peptide inhibitor of complement component 5 (C5), which is in Phase I stage of development for the treatment of paroxysmal nocturnal hemoglobinuria (PNH). RA101495 binds a site on the C5 protein to inhibit cleavage into C5a and C5b, thereby preventing red blood cell lysis by inhibiting the production and assembly of the membrane attack complex (MAC). RA101495 is being developed as an alternative to eculizumab therapy for patients with PNH.