vTv Therapeutics Inc.
12/22/2023 | Press release | Distributed by Public on 12/22/2023 15:26
Management Change/Compensation - Form 8-K
Item 1.02 Termination of a Material Definitive Agreement
On December 18, 2023, vTv Therapeutics LLC ("vTv LLC"), a controlled subsidiary of vTv Therapeutics Inc. (the "Company"), received notice from Hangzhou Zhongmei Huadong Pharmaceutical Co., Ltd. ("Huadong") of their intent to terminate the License Agreement between vTv LLC and Huadong, dated as of December 21, 2017, as amended January 14, 2021 (the "Agreement"). The termination of the Agreement will not be effective until after both parties negotiate and finalize a termination agreement, to be completed at a future date.
Under the Agreement, the Company granted Huadong an exclusive license in China and certain other Pacific Rim countries, including Australia and South Korea (collectively, the "Territory") to the vTv LLC patent rights and know-how for vTv's glucagon-like peptide-1 receptor agonist compound, TTP273, for all therapeutic uses in humans or animals within the Territory. Under the Agreement terms, Huadong also granted vTv LLC certain rights and license to Huadong's patent rights, know-how and Huadong's interest in joint intellectual property relating to TTP273. In its notice to the Company, Huadong indicated that it had decided to discontinue further development of TTP273.