secwatch.observer — SEC 8-K summary
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Issuer:     Regen BioPharma Inc (RGBP)
CIK:        0001589150
Form:       8-K
Filed at:   2021-11-12T23:59:59+00:00
Accession:  0001607062-21-000512
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Regen Biopharma signs non-binding LOI to acquire 95% of Canary Oncoceutics for $1M cash and stock
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- Consideration: $1,000,000 cash plus common shares valued at RGBP's average share price pre-closing.
- Closing contingent on raising $50,000,000 solely for Canary diagnostics and product development.
- Milestone payments up to $10,000,000 per test product, including $3M upon FDA approval.
- Earned royalty on net sales: 2.5% up to $250M, 4% up to $500M, 5% above $500M.
- IP licensed from Cornell University enables patient-derived tumor vascular nets for drug testing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1589150/000160706221000512/0001607062-21-000512-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1589150/000160706221000512/rgbp111221form8k.htm
  HTML page:      https://secwatch.observer/filing/0001607062-21-000512

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer