Sun BioPharma, Inc. (OTCMKTS:SNBP) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
On October 3, 2019, Sun BioPharma, Inc. (the “Company”) entered into the Second Amendment (the “Second Amendment”) to License Agreement No. A9672, effective as of December 22, 2011 (the “License Agreement”) with the University of Florida Research Foundation, Inc. (“UFRF”). The License Agreement continues to entitle the Company to a worldwide exclusive license from UFRF for the polyamine analogue compound (“SBP-101”). The Second Amendment (i) eliminates the Company’s obligation to make any future milestone and minimum royalty payments to UFRF; (ii) clarifies the obligation of the Company to make certain payments to UFRF in the event the Company sub-licenses SBP-101 to another party; (iii) reduces the period during which the Company is required to pay royalties on future commercial sales of SBP-101 to the shorter of ten years or the expiration of the period of regulatory exclusivity on a country-by-country basis; and (iv) extends the deadline for the first commercial sale of SBP-101 to December 31, 2025 before UFRF may exercise its termination rights under the License Agreement.
The foregoing description does not purport to be a complete summary of the terms of the Second Amendment and is qualified by reference to the full text of the Second Amendment, which is attached as Exhibit 10.1 to this report and is incorporated herein by reference.
Item 9.01 Financial Statement and Exhibits.
Sun BioPharma, Inc. Exhibit
EX-10.1 2 ex_159804.htm EXHIBIT 10.1 ex_159804.htm Exhibit 10.1 SECOND AMENDMENT TO LICENSE AGREEMENT NO. A9672 WHEREAS,…
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About Sun BioPharma, Inc. (OTCMKTS:SNBP)
Sun BioPharma, Inc., formerly Cimarron Medical, Inc., is a clinical stage drug development company. The Company is a biopharmaceutical company focused on developing therapies for pancreatic diseases. It is engaged in the commercial development of a polyamine analogue for pancreatic cancer and for a second indication in chronic pancreatitis. The Company’s products include SBP-101, SBP-102 and SBP-103. Its SBP-101 is a polyamine compound and exhibits specificity for the exocrine pancreas, with therapeutic potential for both pancreatic cancer and pancreatitis indications. It develops SBP-101 for the treatment of patients with pancreatic ductal adenocarcinoma. The SBP-102 product is in non-clinical feasibility evaluation for the treatment of patients with pancreatitis. The SBP-103 product is in non-clinical exploratory evaluation. The Company has enrolled first patient in its Phase I clinical trial of SBP-101 in patients with previously treated pancreatic cancer.