On November 14, 2023, Eterna Therapeutics Inc. (Company) entered into an Exclusive Amended and Restated License Agreement (A&R Agreement) with Factor Bioscience Limited (Factor) to replace in its entirety the Exclusive License Agreement dated February 20, 2023, as amended on July 12, 2023. The A&R Agreement provides for, among other things, the expansion of the Company?s license rights to include (i) know-how that is necessary or reasonably useful to practice to the licensed patents and (ii) the ability to sublicense through multiple tiers (as opposed to only permitting a direct sublicense). The A&R Agreement also provides for technology transfer to Eterna, subject to the use restrictions in the A&R Agreement and reduces the termination rights of Factor under the A&R Agreement.
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