Tenax Therapeutics expands levosimendan license to worldwide rights from Orion

TENAX THERAPEUTICS, INC.

Amendment expands Tenax's exclusive global rights to levosimendan for PH-HFpEF from North America to worldwide.
Royalty rates improved to high single-digit to low-teen percentages; maximum cost of goods reduced.
Milestone payments: $10M on US FDA approval (increased), $5M on Japan approval; up to $45M for commercial milestones.
Tenax retains right of first negotiation for all indications except neurological, which are excluded.

item 1.01 item 9.01

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

TENAX THERAPEUTICS, INC. amended Amendment with Orion Corporation (effective 2024-02-19).

Action: amendment
Agreement: license
Counterparty: Orion Corporation
Effective: 2024-02-19

Exact text from the filing

On February 19, 2024, Tenax Therapeutics, Inc. (the “Company”) and Orion Corporation (“Orion”) entered into an amendment (the “Amendment”) to that certain License Agreement between the Company and Orion dated as of September 20, 2013, as previously amended on October 9, 2020 and January 25, 2022 (the “Agreement”).

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Source: SEC EDGAR

accession 0001654954-24-001923

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