CWRU terminates Mosaic's CPMV license for lead candidate MIE-101 over ~$407K unpaid IP fees

Mosaic ImmunoEngineering Inc.

Effective March 22, 2024, CWRU terminated the exclusive worldwide license agreement due to financial default.
Amount owed to CWRU increased to approximately $407,000 as of Dec. 31, 2023; company lacks capital to pay.
Company evaluating strategic options including additional capital, M&A, or possible wind-down/liquidation.
License was for foundational technology (CPMV) behind MIE-101, the sole immunotherapy candidate.

item 1.01 item 1.02

Key facts

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Mosaic ImmunoEngineering Inc. terminated License Agreement with Case Western Reserve University (effective 2024-03-22).

Action: termination
Agreement: license
Counterparty: Case Western Reserve University
Effective: 2024-03-22

Exact text from the filing

on March 22, 2024, the Company received a letter of termination from CWRU terminating our Agreement effective immediately due to our financial default

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Source: SEC EDGAR

accession 0001683168-24-001813

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