Company: PTHS
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001753926-25-001764
Chunk: 45

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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 United Kingdom by September 30, 2026; or (iii)
the Company or its affiliates or potential sublicensee fails to receive regulatory approval for ZELSUVMI in France, Germany, Italy,
Spain and the United Kingdom by March 31, 2027.

Under
the ZELSUVMI License agreement, the Company is also obligated to satisfy certain contractual obligations pursuant to the license
agreements with UNC, entered into in July 2007 and October 2009 by Novan, which were subsequently amended, restated and consolidated
in June 2012 into the UNC License Agreement, and which were assumed during the Novan 363 transaction and assigned to Ligand on
March 24, 2025 by LNHC.

The
UNC License Agreement is described below. The Company obligations regarding the UNC License Agreement include satisfying all payment
obligations, due diligence, reporting, information, inspection and recordation obligations of Ligand under the UNC license agreement.

In
addition, the Company also has development rights for a period of 1 year commencing on the effective date of the ZELSUVMI License,
to negotiate in good faith a development and funding agreement the Company to obtain rights to develop and commercialize the product
program designated by Ligand as SB207. If the Parties are unable to enter into a mutually agreeable development and funding agreement
within 1 year of the effective date of the ZELSUVMI License, the Company will have no further rights to the SB207 program.

Ligand
Master Services Agreement

On
March 24, 2025, LNHC and Ligand entered into the Ligand MSA under which Ligand, or related parties, may contract with LNHC for
LNHC to provide Ligand active pharmaceutical ingredients for clinical or commercial use related to NITRICIL technology. In addition,
the agreement also allows Ligand to require LNHC to provide manufacturing technology transfer services, if requested by Ligand,
for products utilizing NITRICIL technology other than ZELSUVMI for the treatment of molluscum contagiosum in humans, to a potential
third-party manufacturer.

Ligand
Transition Services Agreement

On
July 1, 2025, LNHC and Ligand entered into the Ligand TSA under which Ligand and LNHC could provide certain services to the other
party related to supportive activities for intellectual property, R&D, or regulatory services provide by the Company to Ligand,
or for certain administrative functions to be provided