Item 1.01
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Entry into a Material Definitive Agreement.
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On August 30, 2019, Synthorx, Inc. (the Company) entered into a Sub-Sublease (the
Sublease) with Avelas Biosciences, Inc. (Avelas) for office and laboratory space located at 11099 North Torrey Pines Road, California (the Premises). The purpose of the Sublease is to provide the Company with
additional office and laboratory space in the same building as the Companys existing principal office is located.
Under the terms
of the Sublease, commencing on or around September 1, 2019 (the Commencement Date), the Company will sublease approximately 7,109 square feet in the Premises (the Rented Area) at the rate of $24,858.23 per month (the
Base Rate), with no Base Rate payable for the first six months following the Commencement Date. The Base Rate is scheduled to increase to $25,603.97 per month beginning on March 1, 2021, and the Company is also responsible for
certain operating expenses throughout the life of the Sublease.
The Sublease will continue until February 29, 2022. The Company has
the option to extend the Sublease for one successive one-year term for which the Base Rate would be increased to $26,372.09 per month.
Avelas is affiliated with COI Pharmaceuticals, Inc. (COI). Jay Lichter, Ph.D., a member of the Companys board of directors,
and Tighe Reardon, the Companys Acting Chief Financial Officer, are each executive officers and directors of COI, a shared service company that provides certain back-office and administrative and research and development support services,
including facilities support, to the portfolio companies of Avalon Ventures, one of the Companys principal stockholders. As disclosed in certain of the Companys other filings with the Securities and Exchange Commission, the Company and
COI are parties to a services agreement and the Company subleases office space from COI in the Premises.
The foregoing description of the
terms of the Sublease does not purport to be complete, and is qualified in its entirety by reference to the full text of the Sublease, which will be filed with the Companys Quarterly Report on Form 10-Q
for the period ending on September 30, 2019