11/13/2024 | Press release | Distributed by Public on 11/13/2024 05:02
Item 1.02. Termination of a material definitive agreement.
On November 8, 2024, Klotho Neurosciences, Inc. (the "Company") and Teleost Biopharmaceuticals, LLC mutually agreed to terminate a Licensing Agreement dated January 28, 2023 granting the Company certain rights to develop and commercialize certain patent rights previously licensed to Teleost and know-how rights owned by Teleost in the field of gamma-melanocortins comprised of drug and peptide chemicals, API and pharmaceuticals that bind, affect, and potentially treat diseases directly or indirectly related to human MC1R receptors.
The Company sought the termination of the Licensing Agreement since the licensed rights are no longer core to the Company's business and research plans.