First Wave BioPharma licenses Capeserod from Sanofi; $500k upfront, up to $281M milestones, royalties

GridAI Technologies Corp.

Exclusive global license from Sanofi for Capeserod, a 5-HT4 partial agonist, to develop for GI indications.
Upfront payment of $500k; up to $46M in development/regulatory milestones and up to $235M in commercial milestones.
Sanofi eligible for mid-to-high single-digit royalties on net sales and percentage of sublicense revenue.
Sanofi has right of first refusal to reacquire Capeserod after certain clinical stages.
First Wave plans to initiate Phase 2 trials in 2024 after FDA meeting.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

GridAI Technologies Corp. entered into License Agreement with Sanofi valued at upfront payment of $500,000 (effective 2023-09-13).

Action: entry
Agreement: license
Counterparty: Sanofi
Value: upfront payment of $500,000
Effective: 2023-09-13

Exact text from the filing

On September 13, 2023, First Wave BioPharma, Inc. (the “Company”) entered into a License Agreement (the “License Agreement”) with Sanofi (“Sanofi”), pursuant to which the Company received a license to obtain certain exclusive worldwide rights to develop and commercialize Capeserod

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GridAI Technologies Corp. filing history →

Source: SEC EDGAR

accession 0001104659-23-100614

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