Autolus Therapeutics plc filed SEC Form 8-K: Entry into a Material Definitive Agreement
$AUTL
Biotechnology: Biological Products (No Diagnostic Substances)
Health Care
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 10, 2024
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Item 1.01 Entry into a Material Definitive Agreement
On September 10, 2024, Autolus Limited and Autolus Therapeutics plc (collectively, the “Company”) entered into agreements that amend the lease agreement between them and Forge Life Sciences Nominee 1 Ltd and Forge Life Sciences Nominee 2 Ltd (collectively, the “Landlord”), dated September 19, 2023, for the Company’s Nucleus manufacturing facility in Stevenage, U.K.. The transaction documents include a Deed of Variation to the existing lease, a Licence for Alterations, and a Capital Contribution Deed (collectively, the “Lease Amendments”).
Pursuant to the Lease Amendments, the Landlord will provide up to £18.5 million of funding for specified improvements to the Nucleus facility, including the creation and fit out of additional clean rooms for product manufacture, which the Company has agreed to complete on a mutually agreed schedule. Once the improvements are complete, the annual rent payable by the Company under the lease for the remainder of the term will increase by approximately £1.84 million or, if greater, a specified percentage of the funding provided by the Landlord for such improvements, subject to an overall maximum annual rent increase of £2.19 million. The Lease Amendments do not affect the lease term, which continues to run until September 2043.
Due to a familial relationship between one of the Company’s directors and a senior executive of the Landlord’s parent company, the Lease Amendments were approved by the audit committee of the Company’s board of directors in accordance with the Company’s Related Person Transactions Policy.
The foregoing summary of the material terms of the Lease Amendments does not purport to be complete and is qualified in its entirety by reference to such Lease Amendments, which will be filed as exhibits to the Company’s Quarterly Report on Form 10-Q for the quarter ending September 30, 2024.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AUTOLUS THERAPEUTICS PLC | ||||||||
Dated: September 13, 2024 | By: | /s/Christian Itin, Ph.D. | ||||||
| Name: Christian Itin, Ph.D. | ||||||||
| Title: Chief Executive Officer | ||||||||