vTv Therapeutics Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement
$VTVT
Biotechnology: Pharmaceutical Preparations
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): June 26, 2024
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Item 1.01 Entry into a Material Definitive Agreement.
On June 26, 2024, vTv Therapeutics LLC (“vTv LLC”), a subsidiary of vTv Therapeutics Inc., entered into the Second Amendment to License Agreement with Newsoara Biopharma Co., Ltd. (“Newsoara”) (the “Second Amendment”) to amend the License Agreement previously entered into between vTv LLC and Newsoara on May 31, 2018 (the “Original Agreement”). Under the Second Amendment, upon Newsoara's payment of the upfront fee of $20 million, the Original License will be expanded to a global license. Newsoara has up to one year from the date of the Second Amendment to pay the upfront fee; if it fails to do so, then the Second Amendment will be null and void. The Second Amendment also requires Newsoara to pay vTv LLC up to $41 million in development milestones, $35 million in sales-related milestones and royalties in the mid to upper single digits depending upon sales volumes.
The foregoing description of the License Amendment is qualified in its entirety by reference to the Second Amendment, which the Company intends to file with the SEC as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2024.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| VTV THERAPEUTICS INC. | |||||||||||
| By: | /s/ Paul J. Sekhri | ||||||||||
| Name: | Paul J. Sekhri | ||||||||||
| Title: | Chairman, President, and Chief Executive Officer | ||||||||||
Dated: July 2, 2024