Company: LIMN
Filing Date: 2025-02-07
Form Type: 424B3
Source: 0001104659-25-010605
Chunk: 531

Company: Liminatus Pharma, Inc.
Filing Date: 2025-02-07
Form: 424B3
Chunk 531
---
 the funding for the Vaccine products development, the Company is obligated to make four developmental and regulatory milestone payments for the first Vaccine product that is developed aggregating up to $12.0 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 $6.0 million for each additional Vaccine product that is developed.

In further consideration of the license, the Company will also pay a low double digit royalty rate (10% – 15%) based on annual net sales of Vaccine products or Vaccine Diagnostics on a country-by-country basis for the period from the first commercial sale of the Vaccine product or Vaccine Diagnostic until the Vaccine product or Vaccine Diagnostic’s patent expires in an individual country. Once the Vaccine product or Vaccine Diagnostic’s patent expires in an individual country, the Company will pay a mid-single digit royalty rate (5% – 9%) based on annual net sales of Vaccine products and Vaccine 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 Vaccine product or Vaccine Diagnostic.

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

CAR-T Products and Vaccine Products Licenses from TDT

As of December 31, 2023, the Company owed $0.2 million to TDT for research and development for the aggregate CAR-T Products and Vaccine Licenses, which was included in the due to research and development partner amounts on the balance sheets. As of December 31, 2022, advances for research and development for the aggregate CAR-T Products and Vaccine Licenses were $1.7 million and were included in advances for research and development in the balance sheets. During 2022, the Company incurred additional short-term debt to TDT of $0.9 million for unpaid annual fees. In May 2022, the Company repaid all outstanding debt and related interest of $3.7 million, comprised of short-term debt of $3.3 million and related accrued interest of $0.4 million, to TDT.

CD-47 License

In October 2022, the Company was assigned a license and development agreement, as amended, with InnoBation (the “CD 47 License”), whereby, effective March 31, 2023, the Company received an exclusive

<div align='center'>F-80