Item 1.02 Termination of a Material Definitive Agreement.
On
Under the Collaboration Agreement, the parties had agreed to discover, research,
develop and commercialize small molecule compounds that are inhibitors of an
undisclosed histone acetyltransferase ("HAT") target and an undisclosed helicase
target (the "Target Projects") in indications chosen by BII. Under the terms of
the Collaboration Agreement, the Company had granted to BII an exclusive,
worldwide license to the Company's undisclosed target inhibitors technology, and
the parties had granted reciprocal licenses for each party to utilize the other
party's know-how, patents and technologies for activities under the
Collaboration Agreement. BII was solely responsible for developing and
commercializing products containing compounds that inhibit the HAT target. The
parties had agreed to jointly research and develop products containing compounds
that inhibit the helicase target and share commercialization activities for such
products in
As a result of the termination of the Collaboration Agreement, as of the Termination Date the licenses granted by the Company to BII and the reciprocal licenses will terminate, BII will cease to accrue any financial obligations to the Company and the Company will be entitled to pursue the HAT target and helicase target programs in all fields worldwide without further obligation to BII.
The foregoing summary of the terms of the Collaboration Agreement is qualified
in its entirety by reference to the full text of the Collaboration Agreement, as
amended, which was filed, collectively, with the
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