Current Report Filing (8-k)
November 06 2019 - 6:05AM
Edgar (US Regulatory)
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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)
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November 1, 2019
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NANOVIRICIDES, INC.
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(Exact Name of Registrant as Specified in Its Charter)
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Nevada
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001-36081
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76-0674577
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(State or Other Jurisdiction of Incorporation)
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(Commission File Number)
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(I.R.S. Employer Identification No.)
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1 Controls Drive,
Shelton, Connecticut
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06484
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(Address of Principal Executive Offices)
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(Zip Code)
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(203) 937-6137
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(Registrant's Telephone Number, Including Area Code)
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Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ¨
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Securities registered pursuant to Section 12(b) of the Act:
Title of each class:
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Trading Symbol(s)
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Name of each exchange on which registered:
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Common Stock
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NNVC
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NYSE-American
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Item 1.01.
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Entry into a Material Definitive Agreement.
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On November 1, 2019, NanoViricides, Inc.
(the “Registrant”) entered into a License Agreement (the “Agreement”) with TheraCour Pharma, Inc. (“TheraCour”)
for an exclusive, worldwide license for the Registrant to use, promote, offer for sale, import, export, sell and distribute products
for the treatment of Varicella Zoster Virus derived indications. The Registrant was not required to make any upfront payments to
TheraCour and agreed to the following milestone payments to TheraCour; the issuance of 75,000 shares of the Registrant’s
Series A Convertible Preferred Stock upon the grant of an IND Application; $1,500,000 in cash upon completion of Phase I Clinical
Trials; $2,500,000 in cash upon completion of Phase II clinical trials; and $5,000,000 in cash upon completion of Phase III clinical
trials. In addition, the Registrant is required to pay to TheraCour fifteen percent (15%) of net sales of licensed products, and
any income from sublicensed products. Under the Agreement, TheraCour retains the exclusive right to develop and manufacture the
Licensed Products.
As in previous licensing agreements with
TheraCour, the Registrant agreed to pay the following amounts to TheraCour to the extent not previously paid under existing licensing
agreements: (1) costs (direct and indirect) plus 30%, subject to certain specified exclusions, as a Development Fee and such development
fees shall be due and payable in periodic installments as billed and (2) a deposit equal to estimated development costs for two
months (refundable), such estimates to be reconciled quarterly. Payments not made within 90 days after due date will be charged
an interest at the rate of 1% per month. TheraCour and the Registrant have agreed to enter into a manufacture and supply agreement,
under which TheraCour would manufacture the licensed products exclusively for the Registrant; the Registrant would also have customary
backup manufacture rights, as specified in the License Agreement. TheraCour may terminate the license upon a material breach by
the Registrant as specified in the agreement. However, the Registrant may avoid such termination if the breach is cured within
90 days of receipt of such termination.
The
foregoing description of the Agreement is not complete and further is qualified in its entirety by reference to the Agreement,
which is filed as Exhibit 10.1 to this Current Report on Form 8-K, which is incorporated herein by reference.
Item 9.01.
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Financial Statements and Exhibits.
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(d) Exhibits
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 THEREUNTO
DULY AUTHORIZED.
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NANOVIRICIDES, INC.
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Date: November 6, 2019
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By:
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/s/ Anil Diwan
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Name: Anil Diwan
Title: Chairman, President
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