Lite Strategy, Inc. (LITS): M&A transaction — MEI Pharma sells rights to ME-344 to Aardvark Therapeutics for up to $62.5M milestones

Lite Strategy, Inc.

Closed on Oct 22, 2024: sold ME-344 assets (IP, contracts, technology) to Aardvark Therapeutics for $0.5M upfront plus $55K reimbursement.
Potential milestone payments up to $62M tied to regulatory approval and sales milestones for ME-344.
Purchaser assumes certain liabilities under transferred contracts; no material relationship between parties.
Company retains all other assets and liabilities not specifically transferred (Excluded Assets and Liabilities).

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Lite Strategy, Inc. completed a disposition involving Aardvark Therapeutics, Inc. for $500,000 in cash plus the Reimbursement Amount and up to $62 million in Milestone Payments (closed 2024-10-22).

Action: disposition
Counterparty: Aardvark Therapeutics, Inc.
Consideration: $500,000 in cash plus the Reimbursement Amount and up to $62 million in Milestone Payments
Closing: 2024-10-22

Exact text from the filing

including relevant intellectual property rights, technology and contracts. Pursuant to the Asset Purchase Agreement, the Purchaser paid the Company an initial payment of $500,000 in cash plus the Reimbursement Amount (as defined in the Asset Purchase Agreement) at the closing of the transactions contemplated by the Asset Purchase Agreement (the “Closing”)

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Lite Strategy, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-117406

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