Acasti Pharma Settles CaPre Dispute with Aker BioMarine and Doses First Patient in GTX-104 Trial

Grace Therapeutics, Inc.

Acasti entered a Settlement Agreement with Aker BioMarine to resolve a $2.6 million dispute over a supply agreement for CaPre raw material.
Under the settlement, Aker BioMarine retains ownership of all raw krill oil, production equipment, and CaPre-related intellectual property.
Acasti announced dosing of first patient in the pivotal Phase 3 STRIVE-ON safety trial for GTX-104 in aSAH.
The STRIVE-ON trial aims to support a potential NDA submission anticipated in the first half of calendar 2025.
Acasti extended its projected cash runway to the first calendar quarter of 2026 following a $7.5 million private placement.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Grace Therapeutics, Inc. entered into Settlement Agreement with Aker BioMarine Antarctic AS valued at approximately $2.6 million remaining disputed balance (effective 2023-10-18).

Action: entry
Agreement: settlement
Counterparty: Aker BioMarine Antarctic AS
Value: approximately $2.6 million remaining disputed balance
Effective: 2023-10-18

Exact text from the filing

On October 18, 2023, Acasti Pharma Inc. (the “Company”) entered into a Settlement Agreement with Aker BioMarine Antarctic AS, a corporation organized and existing under the laws of the Kingdom of Norway (“AKBM”), to settle any and all potential claims regarding amounts due under that certain supply agreement, dated October 25, 2019, by and between the Company and AKBM (the “Supply Agreement”).

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Source: SEC EDGAR

accession 0000950170-23-054637

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