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Written communications
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Pre-commencement communications pursuant
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Item
1.01
Entry into a Material Definitive Agreement
On November 2, 2016, we entered into a Second Amendment to Collaboration and License Agreement (the “Amendment”) with Bristol-Myers Squibb Company (“BMS”), amending the terms of our Collaboration and License Agreement with BMS, dated December 17, 2003, as amended.
Under the Amendment, we obtained exclusive rights under the terms of the collaboration to research, develop and commercialize LX9211, a development candidate for neuropathic pain that was jointly developed by the parties as part of the collaboration, and other small molecule compounds acting through the same
drug target as LX9211. We have agreed to pay BMS total development and regulatory milestones of up to $34.5 million for the first indication, starting with the commencement of the first Phase 2 clinical trial, and up to $16.0 million in development and regulatory milestones for each of the second and third indications, if applicable. We have also agreed to pay single-digit royalties on worldwide net sales and up to $40.0 million in sales performance milestones.
The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Amendment, which is filed as Exhibit 10.1 hereto.
Item
9.01
Financial Statements and Exhibits
(d) Exhibits
Exhibit No.
Description
10.1
Second Amendment to Collaboration and License Agreement with Bristol-Myers Squibb Company dated November 2, 2016.
Signatures
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
