Form 8-K for OXIS INTERNATIONAL INC
13-Mar-2015
Entry into a Material Definitive Agreement, Unregistered Sale of Equity Se
Under the terms of the agreement, MCIT will develop three ADC product candidates which contain OXIS’ lead drug candidates OXS-2175 and OXS-4235. OXIS paid MCIT a license fee of $500,000 and will reimburse MCIT up to $1.125 million for its development costs to make the three ADCs exclusively licensed to OXIS. Assuming all clinical development milestones are achieved and manufacturing rights to the three ADCs purchased, OXIS will pay MCIT an additional sum of $22.75 million and pay a royalty of 3% of net yearly worldwide sales upon marketing approval of the ADCs. A copy of the agreement is attached to this filing as Exhibit 10.4. A copy of the press release announcing the execution of the agreement is attached to this filing as Exhibit 99.
ITEM 9.01 Exhibits Exhibit No. Description of Exhibit 10.1 10% Senior Convertible Debenture 10.2 Securities Purchase Agreement 10.3 Common Stock Purchase Warrant 10.4 Agreement with MCIT 99 Press Release Announcing the Execution of the Agreement with MCIT |
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