Company: INDP
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001493152-25-010136
Chunk: 7

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 1
Chunk 7
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Supply
Agreement

On
October 17, 2024, we entered into a clinical supply agreement, or the Supply Agreement, with BeiGene Switzerland GmbH, or BeiGene, to
advance clinical evaluation of Decoy20, our novel product candidate designed to induce a broad immune response to fight cancer, in combination
with BeiGene’s anti-PD-1 antibody, tislelizumab, or the BeiGene Product, for the treatment of patients with advanced solid tumors,
or the Combination Study. We intend to seek approval from the FDA to initiate the Combination Study, which is anticipated to begin in
2025. Under the terms of the Supply Agreement, we will pay for all costs associated with the Combination Study (other than the cost of
the BeiGene Product), BeiGene will supply the BeiGene Product to us for the purposes of the study, and we will supply Decoy20 for the
purposes of the Combination Study. The Supply Agreement will terminate upon the earlier of (i) the one-year anniversary of the date that
we provide BeiGene with the Combination Study’s final clinical study report or (ii) the date of termination of the Combination
Study, subject to early termination in certain circumstances

9

August
2024 Financing

On
August 8, 2024, we completed a registered direct offering, pursuant to which we sold and issued to certain investors, including one of
our officers, 1,643,837 shares of common stock. In addition, in a concurrent private placement, we issued to the investors unregistered
warrants to purchase 1,643,837 shares of common stock, or the August 2024 Private Placement. The warrants were immediately exercisable
at an exercise price of $1.70 per share and expire five years from the date of issuance. The combined purchase price for one share of
common stock and one warrant was $1.825, resulting in gross proceeds of approximately $3.0 million, before deducting placement agent
and other offering expenses in the amount of approximately $0.5 million.

Background

Approved
immunotherapies, such as Interluekin-2, Interferon-alpha and the more recently approved “checkpoint” and CAR-T therapies
produce durable responses in a few percent to about fifty percent of patients across about a dozen out of over one hundred different
types of cancer. Although checkpoint therapies are able to effectively cure many previously incurable patients, only about 15% of patients