Company: TVRD
Filing Date: 2025-05-30
Form Type: S-1
Source: 0001104659-25-054853
Chunk: 358

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-05-30
Form: S-1
Chunk 358
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In June 2015, StemMed entered into a second license agreement with BCM, or the BCM Second Agreement, which is referred to together with the BCM First Agreement as the BCM License Agreements, for the exclusive, worldwide, sublicensable license to certain patents and patent applications co-owned by BCM and the National Institutes of Health, or NIH, related to methods and compositions for the use of STAT3 inhibitors in certain conditions like anaphylaxis, or the Licensed Patent Rights. Under the license for the Second BCM Agreement, the Company is permitted to make, have made, use, market, sell, offer to sell, lease and import products, processes or services that incorporate, utilize or are made with the use of the Licensed Patent Rights, or the BCM2 Licensed Products, in all fields of use.

StemMed assigned the BCM First Agreement and the BCM Second Agreement to the Company in connection with the transfer of all or substantially all of the assets and businesses to which the BCM License Agreements relate to in January and February 2018.

In accordance with BCM License Agreements, and in consideration for the rights and licenses granted to the Company, the Company agreed to pay BCM the following:

| a. | Annual maintenance fees, ranging from $30,000 to $50,000 per year, per license. |

| b. | Milestone payments, up to a low-seven digit figure in the aggregate. |

| c. | Royalty fees, set at a low-single-digit percentage of net sales of any BSM1 Licensed Products or BSM2 Licensed Products. |

Milestones include new drug filings, clinical trial stages, and New Drug Application approval by the FDA.

As of March 31, 2025, the Company accrued $ in maintenance fees. As of December 31, 2024, the full amount of $ in annual maintenance fees had already been paid and thus no accrual was needed. payments for maintenance or milestone fees

F-47

were made during the three months ended March 31, 2025 and 2024. To date, noroyalty fees have been incurred. All related license costs are expensed as incurred within research and development on the condensed statements of operations and comprehensive loss. 16. Retirement Savings Plan The Company maintains a 401(k) Plan which is available to all employees. Under the terms of the 401(k) Plan, participants may elect to contribute up to 80% of their compensation or the statutory prescribed limits. The Company does not make any