SEC Filings

10-K
AUDENTES THERAPEUTICS, INC. filed this Form 10-K on 03/13/2017
Entire Document
 
bold-ex1024_1128.htm

EXHIBIT 10.24

 

 

[*]

Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

 

FIRST AMENDMENT TO EXCLUSIVE LICENSE AND COLLABORATION AGREEMENT

THIS FIRST AMENDMENT (“First Amendment”) is entered into as of December 21, 2016 (the “First Amendment Effective Date”) by and between Audentes Therapeutics Inc., having its principal offices at 600 California Street, 17th Floor, San Francisco, CA 94108 (“Licensor”), and The Trustees of the University of Pennsylvania, a Pennsylvania nonprofit corporation, with offices located at Penn Center for Innovation, 3160 Chestnut Street, Suite 200, Philadelphia, PA 19104-6228 (“Institution”).  Licensor and Institution are sometimes hereinafter referred to collectively as the “Parties” and individually as a “Party.”

WHEREAS, the Parties entered into an Exclusive License and Collaboration Agreement having an effective date of May 3, 2016 (the “Agreement”); and

NOW, THEREFORE, in consideration of the promises and mutual covenants contained in the Agreement and herein, and intending to be legally bound hereby, the Parties amend the Agreement and otherwise agree as follows:

1.

The Work Plan contained in Exhibit C of the Agreement is hereby deleted in its entirety and replaced with the Work Plan as set forth in Schedule A to this First Amendment.

2.

The budget and payment schedule contained in Exhibit C of the Agreement is hereby deleted in its entirety and replaced with the budget and payment schedule as set forth in Schedule B to this First Amendment.  The Parties acknowledge that a total of $4,500,000 has been paid to Institution as of the First Amendment Effective Date for research, development and related support activities conducted by Institution pursuant to the Work Plan.

3.

Section 2.4 of the Agreement is hereby deleted in its entirety and replaced with the following:

“2.4.  Manufacturing.  Licensor will be responsible for using reasonable efforts to manufacture research grade Licensed Product for non-IND enabling nonclinical studies and, at Company’s request and expense to be added to the budget upon the Parties mutual agreement, using reasonable efforts to manufacture GLP grade Licensed Product for IND-enabling studies.  In the event that any Licensed Products manufactured by Licensor under this Agreement do not comply with the applicable specifications or (if applicable) GLP, Licensor shall promptly, and at Company’s sole expense, replace such non-conforming Licensed Products.  If such replacement is required, the cost to Company for such replacement would be reflective of any discounts received by Licensor.  Licensor shall provide to Company periodically during the term of the Agreement and as requested by Company, (promptly upon such request, and in no event later than thirty (30) days