UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT PURSUANT TO
SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.02 Termination of a Material Definitive Agreement.
On December 1, 2023, Alfasigma S.p.A. (“Alfasigma”) notified Innovation Pharmaceuticals Inc. (the “Company”) of its termination without cause of the Exclusive License Agreement between the parties dated July 18, 2019 (the “License Agreement”), which granted Alfasigma the worldwide right to develop, manufacture and commercialize locally-administered Brilacidin for the treatment of ulcerative proctitis/ulcerative proctosigmoiditis (UP/UPS). A description of the License Agreement is set forth in the Current Report on Form 8-K filed by the Company on July 22, 2019 and is incorporated herein by reference. Alfasigma terminated the License Agreement following its decision to discontinue further work under the License Agreement. On December 4, 2023, the parties entered into a mutual release relating to the License Agreement and the Company waived the 60-day notice period for terminations without cause by Alfasigma.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
INNOVATION PHARMACEUTICALS INC. | |||
Dated: December 5, 2023 | By: | /s/ Leo Ehrlich | |
| Name: | Leo Ehrlich | |
Title: | Chief Executive Officer |
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