Sep. 29 at 12:08 PM
$BLRX Collaboration agreement filed with the SEC, provides a a bit more detail into the joint venture
https://www.sec.gov/Archives/edgar/data/1498403/000117891325003403/exhibit_10-2.htm
• Tetragon Biosciences is being formed to develop GLIX1
• Hemispherian will own 60% of Tetragon. BLRX will own 40%
• BLRX will make a
$5M initial investment into Tetragon, to establish its 40% stake. Payment will be made in installments, over 36 months.
• For every
$1M that BLRX invests beyond the initial
$5M, BLRX will receive an additional 1% in Tetragon. Max additional investment of
$30M would give BLRX 70% ownership of Tertragon.
• Dr. Ella Sorani, and Phil Serlin from BLRX will serve on Tetragon's board. Hemispherian will also have 2 members on the board.
