Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 536

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 536
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atus and TDT. The Company is also obligated to pay a $0.5 million annual maintenance fee for the license which is included in research and development expenses in the statements of operations. Unpaid annual maintenance fees become short-term debt that bears interest of 1.5% per month on a compounded basis.

Prior to the completion of the Phase I and Phase II clinical trials for the CAR-T product, the Company is obligated to advance the funding for the Phase II and Phase III clinical trials, respectively, estimated at $20.0 million for each phase. As of December 31, 2023, the timing of the completion of the Phase I and Phase II clinical trials for the CAR-T products is unknown. The funding will come from the Iris Business Combination as well as additional sources as needed.

In addition to the funding for the CAR-T development, the Company is obligated to make four developmental and regulatory milestone payments for the first CAR-T product that is developed aggregating up to $15.0 million. After the first four developmental and regulatory milestone payments are made, the Company is obligated to pay four developmental and regulatory milestones aggregating up to $7.5 million for each additional CAR-T product that is developed.

In further consideration of the license, the Company will also pay a low double digit royalty rate based on annual net sales of CAR-T products or CAR-T Diagnostics on a country-by-country basis for the period from the first commercial sale of the CAR-T product or CAR-T Diagnostic until the CAR-T product or CAR-T Diagnostic’s patent expires in an individual country. Once the CAR-T product or CAR-T Diagnostic’s patent expires in an individual country, the Company will pay a mid-single digit royalty rate based on

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#### LIMINATUS PHARMA, LLC

### NOTES TO FINANCIAL STATEMENTSDECEMBER 31, 2023 AND 2022
annual net sales of CAR-T products and CAR-T Diagnostics on a country-by-country basis. Royalties are payable on a country-by-country basis for a period of ten years from the first commercial sale of the CAR-T product or CAR-T Diagnostic.

As of December 31, 2023 and 2022, the Company does not owe any developmental or regulatory milestone payments or royalty payments under the CAR-T License.

Vaccine Products License

On April 10, 2020, the Company was assigned a license and development agreement with TDT (the “Vaccine