SECURITIES AND EXCHANGE COMMISSION
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|Item 1.01||Entry into a Material Definitive Agreement.|
Century Therapeutics, Inc. (the “Company”) is party to an exclusive license with FUJIFILM Cellular Dynamics Inc., (“FCDI”), dated September 18, 2018, as amended, with respect to certain patents and know-how related to the differentiation of induced pluripotent stem cells (“iPSCs”) into immune-effector cells in the field of cancer immunotherapeutics (the “Differentiation License”) and a non-exclusive license with FCDI, also dated September 18, 2018, as amended, with respect to certain patents and know-how related to the reprogramming of human somatic cells to iPSCs in the field of cancer immunotherapeutics (the “Reprogramming License,” and together with the Differentiation License, the “FCDI Agreements”).
On January 7, 2022, the Company and FCDI entered into a letter agreement (the “Letter Agreement”), which amends each of the FCDI Agreements such that (i) the definition of Territory under each of the FCDI Agreements, for purposes of the sublicenses under the FCDI Agreements pursuant to the Company’s Research Collaboration and License Agreement with Bristol-Myers Squibb Company (“BMS”) dated January 7, 2022 (the “Collaboration Agreement”) includes Japan, (ii) the licenses granted to the Company and its affiliates under the FCDI Agreements are sublicensable to BMS, including with respect to Japan and (iii) BMS is not subject to grant-back and option provisions under the Reprogramming License.
Pursuant to the Letter Agreement, and in consideration for amending the FCDI Agreements, the Company will pay to FCDI (i) an upfront payment of $10 million, (ii) a percentage of any milestone payments received by the Company under the Collaboration Agreement in respect of achievement of development or regulatory milestones specific to Japan, and (iii) a percentage of all royalties received by the Company under the Collaboration Agreement in respect of sales of products in Japan.
The foregoing description of the Letter Agreement does not purport to be complete and is qualified in its entirety by reference to the text of the Letter Agreement, a copy of which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ending March 31, 2022.
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.
|CENTURY THERAPEUTICS, INC.|
|By:||/s/ Osvaldo Flores, Ph.D.|
|Name:||Osvaldo Flores, Ph.D.|
|Title:||President and Chief Executive Officer|
Date: January 13, 2022