Company: LIMN
Filing Date: 2025-06-02
Form Type: 8-K/A
Source: 0001104659-25-055078
Chunk: 9

Company: Liminatus Pharma, Inc.
Filing Date: 2025-06-02
Form: 8-K/A
Chunk 9
---
atus Merger Sub merged with and into Liminatus, with Liminatus continuing as the surviving company and a wholly owned subsidiary of ParentCo (the “Liminatus Merger”) and (b) simultaneously with the Liminatus Merger, SPAC Merger Sub merged with and into Iris (the “SPAC Merger,” together with the Liminatus Merger (the “Mergers”)), with Iris surviving the SPAC Merger as a direct wholly-owned subsidiary of ParentCo.

License Agreements

TDT Licenses

In June 2018,
we entered into a license and development agreement with TDT (the “CAR-T License”), whereby we received an exclusive license
to develop and commercialize CAR-T products and a non-exclusive license to develop and commercialize companion diagnostics used to monitor
treatment with a CAR-T product (the “CAR-T Diagnostics”). Under the CAR-T License, we made an upfront payment recorded as
research and development expenses in the year ended December 31, 2018 and fund all of the development costs for the CAR-T products
and the CAR-T Diagnostics which began with an additional upfront payment made during the year ended December 31, 2018 of $5.0 million,
recorded as advances for research and development in the balance sheet.

On April 10, 2020, we
were assigned a license and development agreement with TDT (the “Vaccine License”), whereby we received an exclusive license
to develop and commercialize vaccine products and a non-exclusive license to develop and commercialize companion diagnostics used to monitor
treatment with a vaccine product, from Viral Gene, Inc. (“Viral Gene”), our related party due to the fact that Viral
Gene and Liminatus share a mutual Chief Executive Officer. Under the Vaccine License, we were responsible for all of the developmental
costs for the Vaccine products after the upfront payment of $4.0 million, which was paid by Viral Gene to TDT.

Upon the assignment
of the Vaccine License on April 10, 2020, we recorded advances for research and development of $1.8 million for the remaining amount
of the upfront payment to TDT to be used on research and development costs and short-term debt of $0.4 million and accrued interest of
$18,000 for the outstanding loan and related interest due to TDT for the annual fee that was not paid by Viral Gene, with an offset of
$1.