RELMADA THERAPEUTICS, INC. (OTCMKTS:RLMD) Files An 8-K Other Events
Item 8.01. Other Events
On May 16, 2017, Relmada Therapeutics, Inc. (the Company) entered
into a confidential settlement agreement and release (the
Agreement) with Laidlaw Company (UK) Ltd. (Laidlaw), James P.
Ahern, and Matthew D. Eitner. to the terms of the Agreement, all
outstanding litigation between the parties was dismissed with
prejudice, including all claims and counterclaims in all legal
proceedings related to Relmada Therapeutics, Inc. v. Laidlaw
Company (UK) Ltd., et al., Case No.1:16-CV-07767, pending in the
United States District Court for the Southern District of New
York. Except for certain reimbursement of legal expenses to
Laidlaw and its principals by the Company, none of the parties
paid any monetary compensation to any other party in connection
with the settlement of the matter. Laidlaw and its principals
agreed to a lock-up prohibiting transfers or sales of their
shares for one year and not to transfer more than 25% in any
quarter of their shares in the subsequent twelve months. Laidlaw
and its principals have also agreed to standstill commitments for
two years, that includes, among other things, not to (i) nominate
any person for election at any meeting of shareholders or make a
request of the Company to seek the resignation of any of its
directors, (ii) submit any proposal for consideration at, or
bring any other business before any meeting of the shareholders,
(iii) seek to call a special meeting of the shareholders, and
(iv) effect or seek to effect, or participate in (a) any
acquisition of any material assets or businesses of the Company,
(b) any tender offer or exchange offer, merger, acquisition or
other business combination involving the Company, or (c) any
recapitalization of the Company. The Company also reaffirmed its
indemnification obligations under its prior engagement agreements
with Laidlaw. The Agreement also contains customary
confidentiality, release, and non-disparagement provisions.
The Company also issued a press release on May 18, 2017
announcing the settlement, a copy is included as Exhibit 99.1 to
this Form 8-K.
Item 9.01Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |
| 99.1 |
Press Release of Relmada Therapeutics, Inc., dated May 18, 2017. |
About RELMADA THERAPEUTICS, INC. (OTCMKTS:RLMD)
Relmada Therapeutics, Inc. is a clinical-stage biopharmaceutical company. The Company is engaged in developing a pipeline of drug candidates to treat chronic pain. Its product candidates include d-Methadone (dextromethadone, REL-1017), LevoCap ER (REL-1015), BuTab (REL-1028) and MepiGel (REL-1021). Its d-Methadone is an N-methyl-D-aspartate (NMDA) receptor antagonist being developed for the treatment of neuropathic pain. Its REL-1015 is an extended release, abuse deterrent formulation of the opioid analgesic levorphanol, which is pharmacologically differentiated from morphine, oxycodone and other opioids for the management of pain severe enough to require daily, around-the-clock and long-term opioid treatment. REL-1028 represents formulations of oral, modified release buprenorphine being developed for both chronic pain and opioid dependence indications. REL-1021 is a topical dosage form of the local anesthetic mepivacaine for the treatment of painful peripheral neuropathies. RELMADA THERAPEUTICS, INC. (OTCMKTS:RLMD) Recent Trading Information
RELMADA THERAPEUTICS, INC. (OTCMKTS:RLMD) closed its last trading session 00.00 at 1.00 with shares trading hands.