Item 1.01. Entry into a Material Definitive Agreement.
On
The Amendment modifies the Collaboration Agreement, among other ways, as follows:
? It extends the term of the Collaboration Agreement for the Company to remain
Novartis' primary proteomics platform provider through
? The Amendment permits all data generated from samples submitted after the
satisfaction of all Projected Annual Minimums (as defined in the Collaboration
Agreement) due on
and sublicensed by Novartis to any Novartis Collaboration Partner (as defined
in the Collaboration Agreement) without any additional obligation to
OpCo.
? For services performed after the Satisfaction Date, it increases the fees
Novartis and its affiliates pay for samples provided by the Company and
specifies that Novartis will provide SomaLogic OpCo with rolling, non-binding
forecasts of its assay requirements on a quarterly basis.
The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the actual text of the Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
Forward Looking Statements
This Current Report on Form 8-K contains forward-looking statements, which
statements are subject to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These statements are based upon the Company's
current plans, estimates, and expectations, and are subject to known and unknown
risks and uncertainties that may cause actual results to differ materially. The
risks and uncertainties that may affect the Company's future results of
operations are identified and described in more detail in its filings with the
Item 9.01. Financial Statements and Exhibits.
Exhibit Number Exhibit Description 10.1 Amendment No. 2 to Master Collaboration Agreement, dated as ofJanuary 4, 2023 , by and betweenSomaLogic Operating Co., Inc. andNovartis Pharma AG . 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1
© Edgar Online, source