Company: INKT
Filing Date: 2025-04-18
Form Type: PRE 14A
Source: 0000950170-25-055881
Chunk: 34

Company: MiNK Therapeutics, Inc.
Filing Date: 2025-04-18
Form: PRE 14A
Chunk 34
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45 days for breach of payment obligations) of receiving such notice.

Effective retroactively to April 1, 2022, we entered into an Amended and Restated Intercompany Services Agreement (the “New Intercompany Agreement”) with Agenus. Under the New Intercompany Agreement, Agenus provides us with certain general and administrative support, including, without limitation, financial, facilities management, human resources and information technology administrative support (the “Agenus Services”), and MiNK and Agenus provide each other with certain research and development services (the “R&D Services”) and other support services, including legal and regulatory support (the “Shared Services”). We are required to pay 10% of Agenus’ costs related to the Agenus Services, and the costs of R&D Services are based upon pass-through costs related to such services plus an allocation of the costs of the employees performing the services. No payment will be due from either party for the Shared Services, provided that the services provided by each party are proportional in scope and volume. We are also entitled to use Agenus’ business offices and laboratory space and equipment in exchange for MiNK contributing a proportionate payment for the use of such facilities and equipment, and MiNK will be covered by certain Agenus insurance policies, subject to certain conditions, including MiNK paying the cost of such coverage. Either party may terminate the New Intercompany Agreement upon 60 days’ prior written notice and individual services upon 30 days’ prior written notice. Pursuant to the terms of the Intercompany General & Administrative Services Agreement and the New Intercompany Agreement, MiNK incurred expenses of $1.1 million and $1.0 million for the years ended December 31, 2024 and 2023, respectively.

On February 12, 2024, we entered into a Convertible Promissory Note Purchase Agreement (the “Purchase Agreement”) pursuant to which we issued to Agenus a convertible promissory note in the principal amount of up to $5.0 million (the “Note”). We may draw down on the principal amount of the Note from time to time with Agenus’s consent in any increment, either in the form of advancements or payments made by Agenus on the Company’s behalf. The Note carries an annual rate of interest rate of 2% (the “Interest Rate”) that accrues from the date funds are paid or advanced by Agenus to us. Interest shall accrue and not be payable until