Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 36

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 36
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 Army Agreement”), in which we obtained a license to develop and commercialize the licensed technology with respect
to all therapeutic applications and uses excluding radical cure of symptomatic vivax malaria. This exclusion does not impact our ability
to market Arakoda for the FDA-approved use, which is the prevention of malaria utilizing the indicated dose in asymptomatic individuals
traveling to malarious areas (whereas the license exclusion relates to its use to treat symptomatic vivax malaria in a patient already
presenting with that disease). The term of the U.S. Army Agreement will continue until the expiration of the last to expire of the patent
application or valid claim of the licensed technology, or 20 years from the start date of the U.S. Army Agreement, unless terminated
earlier by the parties. We will be required to make a minimum annual royalty payment of 3% of net sales for net sales < $35 million,
and 5% of net sales greater than $35 million, with US government sales excluded from the definition of net sales. In addition, we were
required to pay a sales-based milestone fee of $75,000 once cumulative net sales from all sources exceeds $6 million, a change of control
payment of $100,000 if the company is acquired or merges, and regulatory approval milestone payments once marketing authorizations are
achieved in Canada ($5,000) and Europe ($5,000). We achieved the sales-based milestone target during the year ended December 31, 2023,
which milestone payment was made in full in June 2024. Also, we will be required to obtain the U.S. Army Medical Materiel Development
Activity’s consent prior to a change of control of the Company, which consent was obtained on September 2, 2022.

On
September 15, 2016, we entered into the Exclusive License Agreement (the “2016 NUS-SHS Agreement”) with National University
of Singapore (“NUS”) and Singapore Health Services Pte Ltd (“SHS”) in which we were granted a license from NUS
and SHS with respect to their share of patent rights regarding “Novel Dosing Regimens of Celgosivir for The Prevention of Dengue”
to develop, market and sell licensed products. The 2016 NUS-SHS Agreement continues in force until the expiration of the last to expire
of any patents under the patent rights unless terminated earlier in accordance with the 2016 NUS-SHS Agreement. We are