Item 1.01 Entry into a Material Definitive Agreement.
On November 30, 2020, Akebia Therapeutics, Inc. (the "Company") executed the
Sixth Amendment to Lease (the "Sixth Amendment") with CLPF-Cambridge Science
Center, LLC (the "Landlord"), amending the lease dated December 3, 2013, by and
between the Company and the Landlord, as amended (the "Lease"), for the
Company's headquarters located at 245 First Street, Cambridge, Massachusetts
(the "Building").
Pursuant to the Sixth Amendment, the Company has agreed to extend the term of
its existing lease of approximately 5,951 square feet of office, research and
laboratory space located on the first floor of the lab building adjacent to the
Building (the "Lab Space") until January 31, 2025, with an extension option
through September 11, 2026. The monthly lease payment for the Lab Space will be
$48,475.85 commencing on December 1, 2021, with an annual rent escalation of
approximately 3% commencing on December 1, 2022. The Sixth Amendment includes a
Landlord's contribution for certain leasehold improvements for the Lab Space in
an amount of up to $89,265.00.
The foregoing description of the Sixth Amendment does not purport to be complete
and is qualified in its entirety by reference to the Sixth Amendment, a copy of
which the Company expects to file as an exhibit to its Annual Report on Form
10-K for the fiscal year ending December 31, 2020.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses