Company: SXTPW
Filing Date: 2025-07-07
Form Type: S-1
Source: 0001213900-25-061842
Chunk: 31

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-07-07
Form: S-1
Chunk 31
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 quarter and each thereafter the royalty will be calculated, and payment will be made within fifteen days.

On April 3, 2025, we entered into an Agreement
with Yale University (“Yale”) pursuant to which Yale has granted us an exclusive, worldwide license to make, have made, use,
sell, have sold, import, or practice certain patents and patent applications covering jointly developed inventions related to the treatment
of babesiosis using Tafenoquine within the field of using Tafenoquine to treat babesiosis. Yale retains the right to make, use, and practice
the licensed patents and patent applications for research, clinical, teaching, or other non-commercial purposes. In exchange for the license
granted by Yale to us, we agree to pay Yale a royalty of 2% on net sales of licensed products covering the licensed patents if the licensed
product is branded for treatment of babesiosis and a royalty of 1% on net sales of licensed products covering the licensed patents if
the licensed product is not specifically branded for treatment of babesiosis.

Corporate Structure

60 Degrees Pharmaceuticals, Inc. is a Delaware
corporation that was incorporated on June 1, 2022.

On June 1, 2022, 60 Degrees Pharmaceuticals, LLC,
a District of Columbia limited liability company (“60P LLC”), entered into the Agreement and Plan of Merger with 60 Degrees
Pharmaceuticals, Inc., pursuant to which 60P LLC merged into 60 Degrees Pharmaceuticals, Inc. The value of each outstanding member’s
membership interest in 60P LLC was correspondingly converted into common stock of 60 Degrees Pharmaceuticals, Inc., par value $0.0001
per share, with a cost-basis equal to $300.00 per share.

Our majority-owned subsidiary, 60P Australia Pty
Ltd, an Australian proprietary company limited by shares (“60P Australia”), was formed and registered in Queensland on December
3, 2013, and conducts operations in Australia.

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60P Australia previously solely owned a Singaporean
subsidiary company, 60P Singapore Pte. Ltd., which dissolved at our election in the second quarter of 2022.

On February 24, 2025, we effected a reverse stock
split of our common stock at a ratio of 1-for-5.

Going Concern

Our independent auditors have issued a report
raising substantial doubt of our ability to continue as a going concern. We