Genprex licenses Univ. of Pittsburgh gene therapy for diabetes; milestones up to $4M

Genprex, Inc.

Worldwide exclusive license for gene therapy modulating autoimmunity to treat diabetes.
Genprex pays initial license fee, single-digit running royalties, and low double-digit sublicense income share.
Milestone payments aggregate up to ~$4M; annual minimum royalties after first commercial sale.
Licensee must meet development milestones and use diligent efforts to commercialize.
Agreement term runs 20 years after first commercial sale or expiration of last patent claim.

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

Genprex, Inc. entered into UP License Agreement with University of Pittsburgh - Of the Commonwealth System of Higher Education valued at approximately $4,000,000 (effective 2022-11-22).

Action: entry
Agreement: license
Counterparty: University of Pittsburgh - Of the Commonwealth System of Higher Education
Value: approximately $4,000,000
Effective: 2022-11-22

Exact text from the filing

On November 22, 2022, Genprex, Inc. (“Genprex”) and the University of Pittsburgh - Of the Commonwealth System of Higher Education (“UP”) entered into an Exclusive License Agreement (the “UP License Agreement”), pursuant to which UP granted to Genprex a worldwide, exclusive license under certain patents and related technology, referred to collectively as the licensed technology, and a worldwide, non-exclusive license to use certain related know-how, all related to modulating autoimmunity by gene therapy to affect diabetes.

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Genprex, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-22-028072

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