Genprex enters exclusive license with University of Pittsburgh for Type 2 diabetes gene therapy

Genprex, Inc.

Genprex (GNPX) licensed worldwide exclusive rights to gene therapy using Pdx1 and MafA genes for Type 2 diabetes from University of Pittsburgh.
License includes milestone payments up to $4.0 million, single-digit royalties, and a low double-digit share of sublicense income.
The GPX-003 technology aims to rejuvenate beta cells to increase insulin expression; preclinical data accepted for oral presentation at ATTD 2023.
This is the third diabetes technology license from University of Pittsburgh in 2022, covering both Type 1 (GPX-002) and Type 2 diabetes programs.

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 2022-12-29).

Action: entry
Agreement: license
Counterparty: University of Pittsburgh - Of the Commonwealth System of Higher Education
Value: approximately $4,000,000
Effective: 2022-12-29

Exact text from the filing

As consideration for the UP License Agreement, Genprex agreed to pay UP an initial license fee, annual maintenance fees, running single digit royalties, minimum annual royalties in a fixed cash amount, a low double digit percentage share of non-royalty sublicense income, and certain milestone payments up to an aggregate of approximately $4,000,000, as well as patent prosecution expenses incurred prior to and after the effective date of the UP License Agreement.

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Source: SEC EDGAR

accession 0001437749-23-000499

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