{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-26-003509","form_type":"8-K","ticker":"CYCN","cik":"0001755237","company_name":"Cyclerion Therapeutics, Inc.","filed_at":"2026-01-06T23:59:59+00:00","discovered_at":"2026-05-14T18:02:36.081569+00:00","generated_at":"2026-05-16T11:32:55.937689+00:00","sec_items":["1.01","7.01","9.01"],"event_type":"other_material","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Cyclerion Therapeutics enters collaboration with Medsteer for CYC-126 anesthetic delivery system","bullets":["Cyclerion entered a Collaboration and Option Agreement with Medsteer for an anesthetic delivery system for treatment-resistant depression.","Medsteer granted an exclusive option for a worldwide license of its technology, with upfront nominal payment and up to $3.7M in milestones.","Cyclerion plans to initiate Phase 2 proof-of-concept study of CYC-126 in second half of 2026, targeting first patient in Australia.","Medsteer's technology has been used in over 9,000 patients and 25 clinical settings.","Collaboration includes joint development of closed-loop anesthetic delivery platform with real-time EEG monitoring."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-003509","json":"https://secwatch.observer/filing/0001193125-26-003509.json","markdown":"https://secwatch.observer/filing/0001193125-26-003509.md","text":"https://secwatch.observer/filing/0001193125-26-003509.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1755237/000119312526003509/0001193125-26-003509-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1755237/000119312526003509/d23253d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud","generated_at":"2026-05-16T11:32:55.937689+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"a250d70b9809bb5e5d89cafc400ee6b7aedd1f03","claim":"Cyclerion Therapeutics, Inc. entered into Collaboration and Option Agreement with Medsteer, SAS valued at up to $3.7 million (effective 2026-01-03).","evidence_excerpt":"On January 3, 2026, Cyclerion Therapeutics, Inc. (the “Company”) and the Medsteer, SAS (“Medsteer”) entered into a Collaboration and Option Agreement (the “Collaboration Agreement”) pursuant to which Medsteer granted to the Company (i) a non-exclusive, worldwide, royalty-free, sublicensable license of certain of Medsteer’s technology, software and intellectual property to develop an anesthetic delivery system with Medsteer","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1755237/000119312526003509/0001193125-26-003509-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"collaboration"},{"label":"Counterparty","value":"Medsteer, SAS"},{"label":"Value","value":"up to $3.7 million"},{"label":"Effective","value":"2026-01-03"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}