ZOSANO PHARMA CORPORATION (NASDAQ:ZSAN) Files An 8-K Entry into a Material Definitive Agreement
Item1.01.
| Entry into Material Definitive Agreement |
On June6, 2017, Zosano Pharma Corporation, a Delaware corporation
(the Company) and the Companys wholly owned subsidiary, ZP Opco,
Inc., a Delaware corporation, entered into a Seventh Amendment to
Lease (the Seventh Amendment) with BMR-34790 Ardentech Court LP,
a Delaware limited partnership (Landlord). The Seventh Amendment
amends that certain Lease dated as of May1, 2007, as amended (the
Lease), and is effective as of May30, 2017.
Under the Seventh Amendment, the Company extended the term of the
Lease for the Companys headquarters in Fremont, California
through August31, 2024, with an option to further extend the
lease for an additional sixty (60)months, subject to certain
terms and conditions. The Company has agreed to pay a monthly
base rent of $136,190.60 for the period commencing September1,
2017 and ending on August31, 2018, with an increase on
September1, 2018 and annual increases on September1st of each subsequent year until
the lease year beginning September1, 2023. The Seventh Amendment
also provides for rent abatements, subject to certain conditions,
totaling $275,551.50 and certain tenant improvements to be
completed at the Landlords expense (not to exceed $975,000.00 or,
under certain conditions, $1,100,000.00).
Except as specifically amended by the Seventh Amendment, the
Lease remains in full force and effect.
The foregoing description of the Seventh Amendment does not
purport to be complete and is subject to, and qualified in its
entirety by, the full text of the Seventh Amendment, a copy of
which is filed as an exhibit to this Current Report on Form 8-K.
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| Item9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
|
Exhibit Number |
Exhibit Description |
|
| 10.1 |
Seventh Amendment to Lease entered into on June6, 2017 and effective as of May30, 2017 by and between Zosano Pharma Corporation, ZP Opco, Inc. and BMR-34790 Ardentech Court LP. Filed herewith. |
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About ZOSANO PHARMA CORPORATION (NASDAQ:ZSAN)
Zosano Pharma Corporation is a clinical-stage specialty pharmaceutical company. The Company has developed a transdermal microneedle patch system to deliver its formulations of existing drugs through the skin for the treatment of a range of indications. Its microneedle patch system offers consistent drug delivery and improved ease of use and room-temperature stability. The Company’s short-wear-time transdermal patch consists of an array of titanium microneedles that is coated with its formulation of an approved drug and attached to an adhesive patch. When the patch is applied with its hand-held applicator, the microneedles painlessly penetrate the skin, resulting in rapid dissolution and absorption of the drug coating through the capillary bed. Its product candidates include ZP-Triptan, ZP-Glucagon and ZP-PTH. ZP-PTH is a formulation of teriparatide, a synthetic form of parathyroid hormone. ZP-Glucagon is a formulation of glucagon.