---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-100614"
form_type: "8-K"
ticker: "GRDX"
cik: "0001604191"
company_name: "GridAI Technologies Corp."
filed_at: "2023-09-14T23:59:59+00:00"
generated_at: "2026-06-10T17:38:08.700310+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-23-100614
- form_type: 8-K
- ticker: GRDX
- cik: 0001604191
- company_name: GridAI Technologies Corp.
- filed_at: 2023-09-14T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1604191/000110465923100614/0001104659-23-100614-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1604191/000110465923100614/tm2326019d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-100614
- JSON: https://secwatch.observer/filing/0001104659-23-100614.json
- Plain text: https://secwatch.observer/filing/0001104659-23-100614.txt

## Key facts
- Material Agreements
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604191/000110465923100614/0001104659-23-100614-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.