Company: CDT
Filing Date: 2025-04-04
Form Type: 8-K
Source: 0001641172-25-002774
Chunk: 0

Company: CDT Equity Inc.
Filing Date: 2025-04-04
Form: 8-K
Item: Item 1.01
Chunk 0
---
Item
1.01 Entry into a Material Definitive Agreement.

Effective
March 31, 2025 Conduit Pharmaceuticals Inc. (“ Conduit”) has entered into an additional license and use agreement (the “ Additional
Agreement”) with Sarborg Limited covering certain additional deliverables and incorporating a new scope of work focused on analysis
of Conduit’s acquired AstraZeneca assets. Sarborg will apply its proprietary algorithms to analyze Conduit’s data room including
clinical and safety data for AZD1656, AZD5658, and AZD5904 to uncover missed insights, identify repurposing opportunities, and flag dataset
gaps. The goal is to re-evaluate the clinical trial data, focusing on failed endpoints, to potentially identify specific patient subgroups
that may have benefited, which could enhance Conduit’s clinical strategy. Sarborg grants to the Company a non-exclusive, non-transferable,
revocable license for the Term to access and use Sarborg’s proprietary algorithmic machine learning platform in connection with
the data analysis. The term of the Additional Agreement is for six months and provides for the payment, in aggregate, of $2.0 million
which includes an up-front license fee for the Term, in cash or stock at the Company’s election at the closing price on the day
preceding the effective date of the agreement.

In
connection with the payment of prepaid monthly invoices for a portion of such fees, the Company issued 1,853,933 shares to satisfy approximately
$1.65 million of such fees. The foregoing description of the Additional Agreement does not purport to be complete and is qualified in
their entirety by reference to the full text of such agreements, which will be filed with the U. S. Securities and Exchange Commission
as exhibits to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2025. The Services Agreement dated December
12, 2024 remains in full force and effect.

Item
3.02 Unregistered Sales of Equity Securities.