Benzinga | Mar 9, 2021 09:19AM EST

Genprex 8-K Shows Amendment To Patent, Technology License Deal With University Of Texas System For Added Portfolio Of 6 Patents, 1 Patent Application

On March 3, 2021, Genprex, Inc. ("Genprex") and The Board of Regents of the University of Texas System, on behalf of The University of Texas M. D. Anderson Cancer Center ("UTMDACC") entered into an amendment (the "Amendment") to their Patent and Technology License Agreement (the "Original License Agreement") entered into on May 4, 2020. The Amendment grants to Genprex a worldwide, exclusive, sublicensable license to an additional portfolio of six patents and one patent application and related technology ("newly Licensed IP"). The newly Licensed IP includes methods for treating cancer by administration of a TUSC2 therapeutic in conjunction with EGFR inhibitors or other anti-cancer therapies in patients predicted to be responsive to TUSC2 therapy. A TUSC2 gene-expressing plasmid is the active agent in REQORSA, Genprex's lead drug candidate for non-small cell lung cancer.

Pursuant to the Amendment, the Company shall (i) pay annual maintenance fees ranging from the mid five figures to the low six figures, (ii) total milestone payments of $6,150,000, (iii) a one-time fee in the mid five figures and (iv) certain patent related expenses.