Kiora Pharmaceuticals, Inc. announced as previously reported, on September 26, 2018, the company entered into an Intellectual Property License Agreement (the 2018 Agreement) with Sentrx Animal Care, Inc. (Sentrx), with respect to certain rights relating to the manufacturing of the Company's KIO-201 product candidate. Under the 2018 Agreement, Sentrx granted to the Company an exclusive license to use Sentrx's procedures, trade secrets, know-how and other relevant intellectual property in connection with the production of KIO-201. In connection with the 2018 Agreement, the Company paid Sentrx an upfront payment of $250,000 and agreed to pay Sentrx milestone payments totaling up to $4.75 million (the Milestone Payments), upon and subject to the achievement of certain specified developmental and commercial milestones.

On June 12, 2023 and effective as of June 7, 2023 (the Effective Date), the company and Sentrx entered into a First Amendment to the 2018 Agreement (the “Amendment”). Pursuant to the Amendment, among other things, the company is no longer obligated to pay any of the Milestone Payments. Also on June 12, 2023 and effective as of the Effective Date, the company and Sentrx entered into an Exclusive License Agreement (the 2023 Agreement).

Pursuant to the 2023 Agreement, the Company granted to Sentrx an exclusive and sublicensable license to certain patents related to KIO-201 in the field of animal health for diseases or conditions of the eye and its adnexa, and Sentrx is obligated to pay to the company a low single-digit royalty on net sales of products covered by the licensed patents. The license granted by the 2023 Agreement will remain in effect for the duration of the licensed patents unless earlier terminated in accordance with its terms.