Company: INMB
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003354
Chunk: 32

Company: Inmune Bio, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 32
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 agreement (June 26, 2037).

The Company may terminate
the PITT Agreement upon 3 months prior written notice provided all payments under the license are current. Licensor may terminate the
PITT Agreement upon written notice if: (i) the Company defaults as to performance of material obligations which have not been cured within
60 days after receiving written notice; or (ii) the Company ceases to carry out its business, becomes bankrupt or insolvent, applies for
or consents to the appointment of a trustee, receiver or liquidator of its assets or seeks relief under any law for the aid of debtors.

19

Xencor License Agreement

On October 3, 2017, the Company
entered into a license agreement with Xencor, Inc. (“Xencor”), which has discovered and developed a proprietary biological
molecule that inhibits soluble tumor necrosis factor (the “Xencor Agreement”). During June 2021, the Company entered into
the First Amendment to License Agreement with Xencor. Pursuant to the Xencor Agreement, Xencor granted the Company an exclusive worldwide,
royalty-bearing license in licensed patent rights, licensed know-how and licensed materials (as defined in the Xencor Agreement) to make,
develop, use, sell and import any pharmaceutical product that comprises, contains, or incorporates Xencor’s proprietary protein
known as “XPro” that inhibits soluble tumor necrosis factor (or all modifications, formulations and variants of the licensed
protein that specifically bind soluble tumor necrosis factor) alone or in combination with one or more active ingredients, in any dosage
or formulation. The Xencor Agreement expires upon the later of: (a) the expiration of the last to expire valid claim covering any pharmaceutical
product that contains, comprises, or incorporates Xencor’s proprietary protein known as XPro alone or in combination with one or
more active ingredients, in any dosage or formulation. (“Licensed Product”) in such country or (b) ten years following the
first sale to a third party of the licensed product in such country. Net Sales with respect to any Licensed Product is the gross amounts
invoiced by us for sales of the Licensed Products less deductions actually incurred. A valid claim is an issued, unexpired or pending
claim with the patent rights that Xencor controls as of October 3, 2017 which patent rights are necessary to make, develop, use, sell,
have sold, offer for sale