Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024140
Chunk: 102

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 102
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18

6.
Research and Development Expense

August
2024 License Agreement

On
August 7, 2024, the Company and AstraZeneca AB (PUBL) (“AstraZeneca”) entered into a License Agreement, dated August 7, 2024
(the “August 2024 License Agreement”). Pursuant to the August 2024 License Agreement, AstraZeneca agreed to grant a license
to the Company under certain intellectual property rights controlled by AstraZeneca related to HK-4 Glucokinase activators AZD1656 and
AZD5658 in all indications and myeloperoxidase inhibitor AZD5904 for the treatment, prevention, and prophylaxis of idiopathic male infertility.
The Company will be responsible for the development and commercialization of the Licensed Products under the August 2024 License Agreement.

As
consideration for the grant of the license, the Company (i) granted AstraZeneca Common Stock pursuant to a stock issuance agreement (the
“Issuance Agreement”), (ii) paid AstraZeneca an up-front payment of $1.5 million, and (iii) is obligated to pay AstraZeneca
a percentage (on a tiered basis) of any amounts it may receive in connection with a grant of a sublicense (subject to various customary
exceptions). The Issuance Agreement called for the Company to issue AstraZeneca 6,336 shares of the Company’s Common Stock. The
Issuance Agreement provides AstraZeneca with resale registration rights for such shares.

AstraZeneca
has been granted a right of first negotiation to develop, manufacture, and commercialize a Licensed Product (as defined in the
August 2024 License Agreement) if the Company receives an offer for, or solicits, a transaction where a third party would obtain the
right to develop, manufacture, or commercialize a Licensed Product. If AstraZeneca exercises such right, the parties will negotiate
in good faith for an agreed period of time on an exclusive basis.

Either
party may terminate the August 2024 License Agreement for material breach (subject to a cure period) or insolvency of the other party.
The Company may terminate the August 2024 License Agreement for convenience (in its entirety or on a Licensed Product-by-Licensed Product
basis). In addition, AstraZeneca may terminate the August 2024 License Agreement in certain circumstances, including (but not limited
to