Current Report Filing (8-k)
May 12 2020 - 4:43PM
Edgar (US Regulatory)
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): May 11, 2020
AERPIO PHARMACEUTICALS, INC.
(Exact name of registrant as specified in its charter)
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Delaware
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001-38560
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61-1547850
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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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9987 Carver Road
Cincinnati, OH
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45242
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(Address of principal executive offices)
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(Zip Code)
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Registrants telephone number, including area code (513)
985-1920
Not Applicable
(Former name or former address, if changed since last report)
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:
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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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Securities registered pursuant to Section 12(b) of the Act:
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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, $0.0001 par value per share
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ARPO
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Nasdaq Capital Market
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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 or Rule 12b-2 of the Securities Exchange Act of 1934.
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. ☒
Item 1.01
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Entry into a Material Definitive Agreement
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Aerpio Pharmaceuticals, Inc. (the Company, we or us) entered into an Amendment No. 1 (the
Amendment) to the License Agreement (the Agreement) with a wholly-owned subsidiary of Gossamer Bio, Inc. (including its affiliates, Gossamer), effective on May 11, 2020, which amended the
License Agreement entered into by such parties on June 24, 2018. Pursuant to the Agreement, the Company has granted Gossamer an exclusive, sublicensable license to develop and
commercialize AKB-4924 (re-designated GB004) and other structurally related products worldwide. As described in greater detail below, the Amendment modified
certain economic terms contained in the original Agreement. The summary below supersedes the description of such certain economic terms of the original Agreement contained in the Companys Current Report on Form
8-K, filed with the Securities and Exchange Commission on June 25, 2018 (File No. 000-53057). Other than as modified by the Amendment, all other terms of the
original Agreement remain unchanged.
As required by the Amendment, Gossamer made a one-time payment to us of
$15.0 million on the effective date of the Amendment. Under the Agreement, as amended, we are also eligible to receive up to $40.0 million in approval milestone payments related to indications in ulcerative colitis and Crohns
disease, and up to $50.0 million in sales milestone payments. Under the Agreement, as amended, we are also eligible to receive tiered royalties on sales of licensed products at percentages ranging from the low to mid single digits, subject
to certain customary reductions. In addition, under Section 6.4 of the original Agreement, we may continue to elect, under certain circumstances, in lieu of receiving the foregoing milestone payments and royalties, to receive 20% of the
payments received by Gossamer and its stockholders (with some exclusions) in connection with Gossamers grant of a sublicense or other rights to the licensed products or if Gossamer undergoes a change of control and the value of the transaction
exceeds a certain value (provided that Gossamer can prevent the Company from exercising this option if the parent company of Gossamer is the entity undergoing the change of control, in which case each of the royalty rate percentages described above
would automatically be increased by low single digits). Conversely, the Company could be required to accept such 20% of those payments, if Gossamer agrees to pay the Company a certain minimum upon Gossamer and its stockholders being paid. Such
amount may be reduced if the subject transaction includes pharmaceutical candidates or products or other named asset categories in addition to the licensed products.
The foregoing description of the Amendment is qualified in its entirety by reference to the complete text of the Amendment, a copy of which is filed as
Exhibit 10.1 to this Current Report on Form 8-K. The original Agreement was filed as Exhibit 10.1 to the Companys Current Report on Form 8-K, filed with the
Securities and Exchange Commission on June 25, 2018 (File No. 000-53057).
On May 12, 2020, the Company issued a press release announcing its entry into the Amendment. A copy of the press release is attached hereto as Exhibit
99.1 and is incorporated herein by reference.
Item 9.01
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Financial Statements and Exhibits
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(d) Exhibits
*
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Certain confidential portions of this exhibit (indicated by brackets and asterisks) have been omitted from this
exhibit.
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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.
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Date: May 12, 2020
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AERPIO PHARMACEUTICALS, INC.
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By:
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/s/ Joseph Gardner, Ph.D.
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Joseph Gardner
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President and Founder
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Aerpio Pharmaceuticals (NASDAQ:ARPO)
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