Company: LNAI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001731122-25-000765
Chunk: 159

Company: Lunai Bioworks Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 159
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 declaratory and injunctive relief related to certain agreements between G Tech, SRI, and the Company, including, inter
alia, a declaration that the Framework Agreement, effective as of November 15, 2019, the Statement of Work & License Agreement,
effective as of January 31, 2020, and the Statement of Work and License Agreement for Influenza and Coronavirus Indications, effective
as of April 18, 2021, have been terminated and the Company has no rights to any license under such agreements.

Trial
was scheduled to begin on March 3, 2025. On November 14, 2024, the court vacated the March 3, 2025 trial date and set a trial setting
conference for May 1, 2025. At the May 1, 2025 trial setting conference, the court reset the trial to begin on November 30, 2026. Discovery
remains ongoing. The Company denies the allegations in Defendants’ cross claims and intends to vigorously defend against them while
pursuing its claims against the Defendants.

On March
1, 2021, the Company’s former Chief Financial Officer, Robert Wolfe and his company, Crossfield, Inc., filed a Complaint in the
U.S. District Court for the District of Vermont against the Company, Renovaro Biosciences Denmark ApS, and certain directors and officers.
In the Complaint, Mr. Wolfe and Crossfield, Inc. asserted claims for abuse of process and malicious prosecution, alleging, inter alia,
that the Company lacked probable cause to file and prosecute an earlier action, and sought millions of dollars of compensatory damages,
as well as punitive damages. The allegations in the Complaint relate to an earlier action filed by the Company and Renovaro Biosciences
Denmark ApS in the Vermont Superior Court, Orange Civil Division. On March 3, 2022, the court partially granted the Company’s motion
to dismiss, dismissing the abuse of process claim against all defendants and all claims against Mark Dybul and Henrik Grønfeldt-Sørensen,
the Company’s former Chief Executive Officer and former member of the Board of Directors, respectively. On November 29, 2022, the
Company filed a motion for summary judgment with respect to the sole remaining claim of malicious prosecution. On August 24, 2023, the
court denied the motion for summary judgment.

On or
about April 16,