Company: SXTPW
Filing Date: 2025-04-09
Form Type: 8-K
Source: 0001213900-25-030102
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Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-04-09
Form: 8-K
Item: Item 8.01
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Item 8.01. Other Events.

On April 4, 2025, 60 Degrees Pharmaceuticals,
Inc. (the “ Company”) entered into an option agreement (the “ Option Agreement”) with The Florida State University
Research Foundation, Inc (“ FSURF”), the owner of certain patent rights and other patent and technology rights (“ Patent
and Technology Rights”) relating to large scale purification of castanospermine.

Pursuant to the Option Agreement, FSURF granted
the Company an exclusive, limited-term option to negotiate a royalty-bearing, exclusive license to such Patent and Technology Rights within
defined fields of use (the “ Option Rights”).

The option period commenced on April 4, 2025,
and will continue for twelve months (the “ Option Period”), unless terminated earlier upon execution of a license agreement
or pursuant to the termination provisions in the Option Agreement. During the Option Period, the Company may use Patent and Technology
Rights solely for evaluation purposes.

The Option Agreement also includes certain provisions
relating to indemnification and termination rights. The Option Agreement and the Option Rights shall not be assignable, whether by operation
of law or otherwise, and any attempt to do so shall be void.

The Company does not consider the Option Agreement
to be material to its business or operations. As of the date of this Current Report on Form 8-K (this “ Form 8-K), other than the
limited right to use the Patent and Technology Rights solely for evaluation purposes, the Company has not been granted any exclusive license
to the Patent and Technology Rights pursuant to a definitive license agreement.

Castanospermine is a bioactive alkaloid derived
from the Australian Chestnut tree ( Castanospermum australe). The Company has a long-standing intellectual property position around
the development of a synthetic castanospermine derivative, celgosivir, for viral diseases. Moreover, extensive scientific literature suggests
short-course botanically-derived castanospermine regimens may potentially beneficial metabolic and immunomodulatory effects. The development
and commercialization route for botanical extracts is far more efficient and less costly than for prescription pharmaceuticals.

Given the new U. S. policy emphasis on health and
wellness and the changing regulatory framework for pharmaceutical product approval, the Company intends to explore the safety, commercial
and technical feasibility of commercializing non-prescription botanical extracts from Australian Chestnut trees. The Option Rights will
preserve the Company’s exclusive opportunity to evaluate and potentially license the Patent and Technology Rights as