Item 1.01 Entry into a Material Definitive Agreement.
As previously disclosed, Ocugen, Inc. (the "Company"), is party to a
Co-Development, Supply and Commercialization Agreement, as amended (the
"Agreement") with Bharat Biotech International Limited ("Bharat"), pursuant to
which the Company obtained an exclusive right and license under certain of
Bharat's intellectual property rights, with the right to grant sublicenses, to
develop, manufacture and commercialize COVAXIN™, an advanced-stage whole-virion
inactivated vaccine candidate/product for the prevention of COVID-19 in the
United States of America and Canada (the "Ocugen Territory").
On April 15, 2022, the Company and Bharat entered into that certain Second
Amendment to the Co-Development, Supply and Commercialization Agreement (the
"Amendment"), pursuant to which the parties agreed to expand the Ocugen
Territory to include Mexico (the "Amended Ocugen Territory"). Under the terms of
the Agreement, as amended by the Amendment, the parties will share any profits
generated from the commercialization of COVAXIN™ in the Amended Ocugen
Territory, with the Company retaining 45% of such profits and Bharat receiving
the balance of such profits.
The foregoing summary of the material terms of the Amendment is qualified in its
entirety by the terms of the Amendment, a copy which will be filed as an exhibit
in a subsequent periodic report to be filed under the Securities Exchange Act of
1934, as amended.
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