Item 1.01 Entry into a Material Definitive Agreement.
On
The Company is required to pay a licensing fee and a document delivery fee
within 30 days of the date of the License Agreement. Additionally, the Company
is obligated to pay 16 product milestone payments related to Phase I, Phase II,
Phase III and
Additional payments the Company is obligated to pay are (i) an annual royalty equal to 4% of net sales of products sold using technology and patents rights under the License Agreement, and (ii) an annual license fee and quality and stability testing fees.
The term of the License Agreement is until the last of the licensed patent rights and the exclusive market approval for the products made or using the technology and rights underlying the licensed patents expire on a county-by-country basis. The terms of the patents subject to the License Agreement with the longest terms are 20 years.
The foregoing summary of the terms of the Agreement does not purport to be
complete and is qualified in its entirety by reference to the Agreement, a copy
of which (in redacted form subject to a confidential treatment request submitted
to the
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits: Exhibit Description 10.1 License Agreement datedMay 10, 2021 , by and between AppliedBioPharma LLC , aNevada limited liability company, andNational Health Research Institutes , aTaiwan ,Republic of China , entity. (1)(2)
(1) In accordance with Item 601(a)(5) of Regulation S-K, certain schedules (or
similar attachments) to this exhibit have been omitted from this filing. Such
omitted schedules (or similar attachments) include information relating to the
License Agreement. The Registrant will provide a copy of any omitted schedule to
the
(2) In accordance with Item 601(b)(10)(iv) of Regulation S-K, certain provisions or terms of the License Agreement have been redacted. Such redacted information includes information about the patents rights and technology underlying the License Agreement. The Registrant will provide an unredacted copy of the exhibit on a supplemental basis to the Commission or its staff upon request.
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