EX-10.1




 Exhibit 10.1 
  


			
	 




  
	 	 U.S. Department of Justice

 
 United States Attorney

Southern District of New York

		 	  
 86 Chambers Street, 3rd floor

New York, New York 10007
  

November 17, 2022


 BY EMAIL 
 Jonathan
M. Phillips 
 Gibson, Dunn & Crutcher LLP 
 1050
Connecticut Avenue, N.W. 
 Washington, D.C. 20036-5306 
  

	 	Re:	 United States v. Progenity, Inc. 



	 	    	 16 Civ. 9051 (LAP) 



Dear Mr. Phillips: 
 I write in response to your
October 17, 2022 letter requesting an extension of time for Biora Therapeutics, Inc., formerly known as Progenity Inc. (“Biora”), to make its next payment pursuant to Paragraph 3(d) of the Stipulation and Order of Settlement and Dismissal
in this case (the “Stipulation”) approved by the Court on July 23, 2020. In that letter and during our prior discussion, you have represented that Biora is experiencing significant financial distress and lacks the available cash to
both make the next payment due under the Stipulation and fund its business operations in the near term. In support of its request, Biora has submitted recent financial information concerning the company’s assets, cash flow, liabilities, and
revenue (“Current Financial Information”). The United States has relied on the truth, accuracy, and completeness of the Current Financial Information, and Biora has warranted that the Current Financial Information is true, complete, and
accurate. 
 Based on Biora’s representations and submissions described above, the United States is willing to extend the deadline for
Biora to make its next payment pursuant to Paragraph 3(d) of the Stipulation from December 31, 2022, to July 15, 2023. Biora agrees to, on or before July 15, 2023, pay the United States the sum of $2,778,473.71, plus interest which shall be
compounded annually at a rate of 1.25% accruing from the Effective Date. 
 This letter does not in any way affect any other provision of
the Stipulation, including but not limited to the December 31, 2023 deadline for Biora to make its payment pursuant to Paragraph 3(e) of the Stipulation and the rights and the remedies the United States has in the event that Biora defaults by not
making payments required by the Stipulation. Please counter-sign below to confirm your agreement with the above terms and return the signed letter to me. 











 
			
		 	Sincerely yours,
		
		 	DAMIAN WILLIAMS
		 	 United States Attorney for the
 Southern
District of New York

		
	By:	 	 /s/ JEFFREY K. POWELL

		 	JEFFREY K. POWELL
		 	Assistant United States Attorney
		 	Tel.: (212) 637-2706
		 	Email: Jeffrey.Powell@usdoj.gov


  

	cc:	 Michael Fleiss, Esq. 



	    	 Email: mfleiss@ssrga.com 



	    	 Counsel for Relator 



For Biora: 
 Dated: November 21, 2022 

 

					
		 		 	BIORA THERAPEUTICS, INC.
			
	            	 	By:	 	 /s/ Clarke Neumann

		 		 	Clarke Neumann
		 		 	SVP General Counsel & Secretary
			
		 		 	GIBSON, DUNN & CRUTCHER LLP
			
		 	By:	 	 /s/ Jonathan M. Phillips

		 		 	Jonathan M. Phillips
		 		 	 1050 Connecticut Avenue, N.W.
 Washington, D.C.
20036-5306

		 		 	Phone: 202-955-8220
		 		 	Email: jphillips@gibsondunn.com
		 		 	Attorneys for Biora, Inc.


  
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