8-K
filed December 28, 2022, 6:59 PM ET
ticker AKBA
CIK 0001517022
other material
confidence high
sentiment negative
materiality 0.75
Akebia Therapeutics, Inc. (AKBA): restructuring charge — Akebia licenses ferric citrate to Averoa for EU/UK; terminates BioVectra supply deal for $32.5M
Akebia Therapeutics, Inc.
- Granted Averoa exclusive license to develop/commercialize ferric citrate in EEA, Turkey, Switzerland, UK; royalties mid-single to low double digit.
- Terminated BioVectra manufacturing/supply agreements for Auryxia (ferric citrate) effective immediately for business reasons.
- Company to pay BioVectra $32.5M: $17.5M upfront plus six quarterly $2.5M payments commencing April 2024.
- Mutual release of all claims under terminated agreements; company retains supply obligation to Averoa under new contract.
- Akebia may terminate supply agreement with Averoa on 24-month notice after January 1, 2024.
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
Akebia Therapeutics, Inc. entered into License Agreement with Averoa SAS (effective 2022-12-22).
- Action
- entry
- Agreement
- license
- Counterparty
- Averoa SAS
- Effective
- 2022-12-22
Exact text from the filing
On December 22, 2022 (the “Effective Date”), Akebia Therapeutics, Inc. (the “Company”), Keryx Biopharmaceuticals, Inc., a wholly-owned subsidiary of the Company (“Keryx”), and Averoa SAS (“Averoa”) entered into a License Agreement (the “License Agreement”) pursuant to which the Company granted to Averoa an exclusive license to develop and commercialize ferric citrate
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Akebia Therapeutics, Inc. terminated Termination Agreement with BioVectra Inc. valued at $32,500,000 (effective 2022-12-22).
- Action
- termination
- Agreement
- supply
- Counterparty
- BioVectra Inc.
- Value
- $32,500,000
- Effective
- 2022-12-22
Exact text from the filing
On December 22, 2022, Keryx and BioVectra Inc. (“BioVectra”), entered into a termination and settlement agreement (the “Termination Agreement”). Pursuant to the Termination Agreement, Keryx and BioVectra agreed, among other things, to terminate, effective immediately, any and all existing agreements entered into between the parties in connection with the manufacture and supply, by BioVectra to the Company, of ferric citrate drug substance (the “Product”) for the Company’s proprietary product, Auryxia, including but not limited to that certain Manufacture and Supply Agreement, dated May 26, 2017, as amended by the Amendment to Manufacture and Supply Agreement, dated December 11, 2017 (the “Manufacture and Supply Agreement”), and that certain Amended and Restated Product Manufacture and Supply and Facility Construction Agreement, dated September 4, 2020 (the “Supply and Facility Construction Agreement”) (such agreements, collectively, the “BioVectra Agreements”). The parties agreed to te
View on SEC.gov
Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
Akebia Therapeutics, Inc. announced a restructuring with charges of $32,500,000 affecting supply of ferric citrate drug substance for Auryxia.
- Type
- restructuring
- Charge
- $32,500,000
- Affected area
- supply of ferric citrate drug substance for Auryxia
Exact text from the filing
Under the terms of the Termination Agreement, the Company has agreed to pay to BioVectra a total of $32,500,000, consisting of (i) an upfront payment of $17,500,000 and (ii) six quarterly payments of $2,500,000 starting in April 2024, in consideration for the termination of the BioVectra Agreements
View on SEC.gov
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