Document:

ctxr_ex107.htm

EXHIBIT 10.7

 

AMENDMENT TO 

PLACEMENT AGENCY AGREEMENT 

 

This Amendment to Placement Agency Agreement (the “Amendment”) is made on November 23, 2016, by and between Citius Pharmaceuticals, Inc., a Nevada corporation (the “Company”), and Garden State Securities, Inc. (“GSS”). All terms not defined herein shall have the meaning designated in the Agreement (as defined below).

 

WHEREAS, the Company and GSS are parties to that certain Placement Agency Agreement dated as of September 27, 2016 (the “Agreement”) pursuant to which GSS agreed to serve as the placement agent in connection with the issuance and sale (the “Offering”) of units (each a “Unit”) at a price of $0.65 per Unit, consisting of (i) one share of common stock, par value $0.001 per share (the “Common Stock”), and (ii) one warrant to purchase one (1) share of Common Stock (the “Warrants” and, together with the Common Stock, the “Securities”) at an exercise price of $.85 per share; and

 

WHEREAS, the Company and GSS now desire to reduce the price per Unit and the exercise price of the Warrants as set forth below. 

 

NOW, THEREFORE, in consideration of the mutual covenants herein contained and other good and valuable consideration, the mutual receipt and legal sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows.

 

1. Amendment of Introduction. The “Introduction” is hereby deleted and restated as follows:

 

“Subject to the terms and conditions herein (this “Agreement”), Citius Pharmaceuticals, Inc., a Nevada corporation (the “Company”), hereby agrees to sell up to an aggregate of a minimum of 750,000 units (the “Minimum Offering”) and a maximum of 15,000,000 units, with each unit (a “Unit”) consisting of: (i) one share of common stock, par value $0.001 per share (the “Common Stock”), and (ii) one warrant to purchase one (1) share of Common Stock (the “Warrants” and, together with the Common Stock, the “Securities”) at an exercise price of $.55 per share. The Securities are being sold directly to various investors (each, an “Investor” and, collectively, the “Investors”) through Garden State Securities, Inc., as placement agent (the “Placement Agent”). The purchase price to the Investors for each Unit is $.40. Each Warrant will be exercisable on a cash or cashless basis (at the sole discretion of the holder) until a registration statement covering the shares of Common Stock underlying the Warrants has been declared effective and thereafter for cash only; provided that if such registration statement is no longer effective, then the holders will again have the option (at their sole discretion) to exercise on a cashless or cash basis. The Warrants expire five (5) years from issuance.” 

 
	 
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2. Amendment to Section 1(a)(ii). Section 1(a)(ii) to the Agreement is amended in its entirety as follows:

 

(ii) Such number of warrants (the “Placement Agent Warrants”) to purchase shares of Common Stock equal to 10% of the aggregate number of shares of Common Stock underlying the Units sold in the Offering, to be issued to the Placement Agent or its designees. The Placement Agent Warrants shall be exercisable for a period of 5 years from the date of issuance at an exercise price equal to $.55 per share and have a cashless exercise provision and registration rights. The Placement Agent Warrants shall not be transferrable for six months from the date of the Offering, except as permitted by the Financial Industry Regulatory Authority (“FINRA”) Rule 5110(g)(1).

 

3. Counterparts; Effect on Agreement; Governing Law. This Amendment may be executed in two or more counterparts, each of which shall constitute an original, but which, when taken together, shall constitute but one instrument. Except as provided herein, the Agreement shall remain in full force and effect. This Amendment shall be governed by and construed in accordance with the laws of the State of New York. 

 

[THE NEXT PAGE IS THE SIGNATURE PAGE.]

 
	 
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IN WITNESS WHEREOF, the parties have executed this AMENDMENT as of the date first written above.

 

 

	
 
	
COMPANY:

 

CITIUS PHARMACEUTICALS, INC.
	
		 		
	
 
	
By:
	/s/ Myron Holubiak	
	
 
	
Name:
	Myron Holubiak	
	
 
	
Title:
	CEO 	
		 		
	
 
	
PLACEMENT AGENT:

 

GARDEN STATE SECURITIES, INC.
	
		 		
	
 
	
By:
	/s/ Ernest Pellegrino	
	
 
	
Name:
	Ernest Pellegrino	
	
 
	
Title:
	Director of Corporate Finance	

 

[Signature Page to Amendment]

 

 

	
3ctxr_ex108.htm

EXHIBIT 10.8

 

SECOND AMENDMENT TO PATENT AND TECHNOLOGY LICENSE AGREEMENT

 

This Second Amendment to Patent and Technology License Agreement (the “Amendment”) is made as of the 20th day of March 2017 to the Patent and Technology License Agreement effective as of May 14, 2014, as amended (the “Agreement”), by and between Novel Anti-Infective Technologies, LLC (the “Licensor”), and Leonard-Meron Biosciences, Inc. (“Licensee”). Terms used herein that are not otherwise defined herein shall have the meanings given them in the Agreement. 

 

NOW, THEREFORE, in consideration of the premises and of the mutual covenants, conditions and agreements set forth herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby amend the Agreement and agree as follows:

 

1. Section 2.6 of the Agreement shall be deleted in its entirety and replaced with the following new Section 2.6: 

 

“2.6 LICENSED TERRITORY means worldwide.”

 

2. The Agreement shall be amended by adding the following new Section 2.9A:

 

“2.9A “PHASE III TRIAL” means a clinical trial of a Licensed Product in human patients sponsored by LICENSEE, its AFFILIATES or SUBLICENSEEs, which trial is designed (a) to establish that the Licensed Product is safe and efficacious for its intended use; (b) to define warnings, precautions and adverse reactions that are associated with the Licensed Product in the dosage range to be prescribed; (c) to be, either by itself or together with one or more other clinical trials having a comparable design and size, the pivotal human clinical trial in support of an application for Regulatory Approval or label expansion of the Licensed Product, and (d) consistent with 21 CFR § 312.21(c) (as hereafter modified or amended), or with respect to a jurisdiction other than the United States, a similar clinical study).”

 

3. Subclause (6) of Section 4.1(f) shall be deleted in its entirety and replaced with the following new subclause (6):

 

“(6) REGULATORY APPROVAL in any one of the following: Canada, Australia, India, China, Taiwan, South Korea or Russia, with respect to REGULATORY APPROVAL FILING submitted by LICENSEE, its AFFILIATES or SUBLICENSEES: $100,000”

 

4. Section 4.1(f) shall be amended by adding a new subclause (10) as follows:

 

“(10) REGULATORY APPROVAL in any one of the following: Brazil, Argentina, Chile, Peru, Colombia or Venezuela, with respect to a REGULATORY APPROVAL FILING submitted by LICENSEE, its AFFILIATES or SUBLICENSEES: $50,000.”

 

5. Section 4.1 shall be amended by adding a new subsection (h) as follows:

 

“(h) A nonrefundable license fee in the amount of $15,000, due and payable on or before April 30, 2017.”

 

6. Except as specifically amended or modified by this Amendment, the terms and conditions of the Agreement shall remain unimpaired, unaffected, and unchanged in every particular as set forth in the Agreement. This Amendment may be executed in counterparts, each of which shall be deemed an original, but all such counterparts shall together constitute but one and the same instrument. One or more counterparts hereof may be delivered via telecopier, with the intent that any such counterpart have the effect of an original counterpart hereof.

 

[Signature page to follow.]

 
	 
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IN WITNESS WHEREOF, the parties hereto have executed this Second Amendment to Patent and Technology License Agreement as of the day and year first above written.

 

	 	NOVEL ANTI-INFECTIVE TECHNOLOGIES, LLC	
	 	 	 	 
		By:	/s/ David B. McWilliams 	
	
 
	
Name: 
	David B. McWilliams	 
	 	Title:	Chairman 	 
	 	 	 	 
	
 
	
LEONARD-MERON BIOSCIENCES, INC.
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	
/s/ Myron Holubiak 
	
 

	
 
	
Name:
	
Myron Holubiak 
	
 

	
 
	
Title: 
	
CEO 
	
 

 

 

	2kura-ex102_452.htm

 

Exhibit 10.2

 

FIRST AMENDMENT TO
LOAN AND SECURITY AGREEMENT

THIS FIRST AMENDMENT to Loan and Security Agreement (this “Amendment”) is entered into as of May 12, 2017, by and between OXFORD FINANCE LLC, a Delaware limited liability company with an office located at 133 North Fairfax Street, Alexandria, Virginia 22314 (“Oxford”), as collateral agent (in such capacity, “Collateral Agent”), the Lenders listed on Schedule 1.1 of the Loan Agreement (as defined below) or otherwise party thereto from time to time including Oxford in its capacity as a Lender and SILICON VALLEY BANK, a California corporation with an office located at 3003 Tasman Drive, Santa Clara, CA 95054 (“Bank” or “SVB”) (each a “Lender” and collectively, the “Lenders”), and KURA ONCOLOGY, INC., a Delaware corporation with offices located at 11119 N. Torrey Pines Rd. Suite 125, La Jolla, CA 92037 (“Borrower”).

Recitals

A.Collateral Agent, Lenders and Borrower have entered into that certain Loan and Security Agreement dated as of April 27, 2016 (as amended from time to time, the “Loan Agreement”).

B.Lenders have extended credit to Borrower for the purposes permitted in the Loan Agreement.  

C.Borrower has requested that Collateral Agent and Lenders (i) modify the Second Draw Period and (ii) make certain other revisions to the Loan Agreement as more fully set forth herein.

D.Collateral Agent and Lenders have agreed to modify such consent and to amend certain provisions of the Loan Agreement, but only to the extent, in accordance with the terms, subject to the conditions and in reliance upon the representations and warranties set forth below.

Agreement

Now, Therefore, in consideration of the foregoing recitals and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows:

1.Definitions.  Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Loan Agreement.

2.Amendments to Loan Agreement. 

2.1Section 2.5 (Fees).  New Section 2.5(f) hereby is added to the Loan to read as follows:

“(f)First Amendment Fee.An amendment fee, due on the First Amendment Effective Date, in the amount of Twenty-Five Thousand Dollars ($25,000.00) (the “First Amendment Fee”), to be shared between the Lenders in accordance with their respective Pro Rata Shares.”

2.2Section 13.1 (Definitions).  The following terms and their respective definitions hereby are added or amended and restated in their entirety, as applicable, to Section 13.1 of the Loan Agreement as follows:

“First Amendment Effective Date” is May 12, 2017.

“Second Draw Period” is the period commencing on August 1, 2017 and ending on the earlier of (i) October 31, 2017 and (ii) the occurrence of an Event of Default; provided, however, that the Second Draw Period shall not commence if on August 1, 2017 an Event of Default has occurred and is continuing.

“Unused Fee” is an additional, one-time fee payable to the Lenders in an amount equal to (i) two and three-quarters of one percent (2.75%) multiplied by (ii) Twenty Million Dollars 

 

 

($20,000,000.00) minus the aggregate amount of the Term Loans requested by Borrower on or before October 31, 2017; provided that the Unused Fee shall be paid, if at all, on the earlier of November 1, 2017 or prior repayment in connection with Sections 2.2(c) or (d), and may be debited (or ACH’d) from any of Borrower’s accounts.

2.3Section 13.1 (Definitions).  The following term, its definition and references thereto hereby are deleted in their entirety, from the Loan Agreement:

	

	
“Second Draw Milestone”

3.Limitation of Amendment.

3.1The amendments set forth in Section 2, and the waiver set forth in Section 3 above, are effective for the purposes set forth herein and shall be limited precisely as written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right or remedy which Collateral Agent or any Lender may now have or may have in the future under or in connection with any Loan Document.

3.2This Amendment shall be construed in connection with and as part of the Loan Documents and all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed and shall remain in full force and effect.

4.Representations and Warranties.  To induce Collateral Agent and Lenders to enter into this Amendment, Borrower hereby represents and warrants to Collateral Agent and Lenders as follows:

4.1Immediately after giving effect to this Amendment (a) the representations and warranties contained in the Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which case they are true and correct as of such date), and (b) no Event of Default has occurred and is continuing;

4.2Borrower has the power and authority to execute and deliver this Amendment and to perform its obligations under the Loan Agreement, as amended by this Amendment;

4.3The organizational documents of Borrower delivered to Collateral Agent and Lenders on the Effective Date, or subsequent thereto, remain true, accurate and complete and have not been amended, supplemented or restated and are and continue to be in full force and effect;

4.4The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, have been duly authorized;

4.5The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, do not and will not contravene (a) any law or regulation binding on or affecting Borrower, (b) any contractual restriction with a Person binding on Borrower, (c) any order, judgment or decree of any court or other governmental or public body or authority, or subdivision thereof, binding on Borrower, or (d) the organizational documents of Borrower;

4.6The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, do not require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any governmental or public body or authority, or subdivision thereof, binding on Borrower; and

4.7This Amendment has been duly executed and delivered by Borrower and is the binding obligation of Borrower, enforceable against Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other similar laws of general application and equitable principles relating to or affecting creditors’ rights.

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5.Counterparts.  This Amendment may be executed in any number of counterparts and all of such counterparts taken together shall be deemed to constitute one and the same instrument.

6.Effectiveness.  This Amendment shall be deemed effective upon the due execution and delivery to Collateral Agent and Lenders of (i) this Amendment by each party hereto, (ii) the due execution and delivery to Collateral Agent of the Corporate Borrowing Certificate attached hereto, (iii) Borrower’s payment of the First Amendment Fee in an aggregate amount of Twenty-Five Thousand Dollars ($25,000.00), as due in accordance with Section 2.5(f) of the Loan Agreement and (iv) Borrower’s payment of all Lenders’ Expenses incurred through the date of this Amendment.

[Balance of Page Intentionally Left Blank]

 

 

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In Witness Whereof, the parties hereto have caused this Amendment to be duly executed and delivered as of the date first written above.

 

	
COLLATERAL AGENT AND LENDER:

	
 
	
 

	
 
	
 

	
OXFORD FINANCE LLC

	
 

	
By:
	
/s/ Mark Davis

	
Name:
	
     Mark Davis

	
Title:
	
     Vice President – Finance

	
 
	
 

	
 
	
 

	
LENDER:

	
 

	
SILICON VALLEY BANK

	
 

	
By:
	
/s/ R. Michael White

	
Name:
	
     R. Michael White

	
Title:
	
     Managing Director

	
 
	
 

	
 
	
 

	
BORROWER:

	
 

	
KURA ONCOLOGY, INC.

	
 
	
 

	
By:
	
/s/ Heidi Henson

	
Name:
	
     Heidi Henson

	
Title:
	
     CFO

	
 
	
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[Signature Page to First Amendment to Loan and Security Agreement]

 

 

CORPORATE BORROWING CERTIFICATE

				
	
Borrower:
	
KURA ONCOLOGY, INC.
	
Date: May 12, 2017 

	
Lenders
	
OXFORD FINANCE LLC, as Collateral Agent and Lender
	
 

	
 
	
SILICON VALLEY BANK, as Lender
	
 

	
 
	
 
	
 

I hereby certify as follows, as of the date set forth above:

1.I am the Secretary, Assistant Secretary or other officer of Borrower.  My title is as set forth below.

2.Borrower’s exact legal name is set forth above.  Borrower is a corporation existing under the laws of the State of Delaware.

3.Attached hereto as Exhibit A and Exhibit B, respectively, are true, correct and complete copies of (i) Borrower’s Certificate of Incorporation (including amendments), as filed with the Secretary of State of the state in which Borrower is incorporated as set forth in paragraph 2 above; and (ii) Borrower’s Bylaws.  Neither such Certificate of Incorporation nor such Bylaws have been amended, annulled, rescinded, revoked or supplemented, and such Certificate of Incorporation and such Bylaws remain in full force and effect as of the date hereof.  

4.The following resolutions were duly and validly adopted by Borrower’s Board of Directors at a duly held meeting of such directors (or pursuant to a unanimous written consent or other authorized corporate action).  Such resolutions are in full force and effect as of the date hereof and have not been in any way modified, repealed, rescinded, amended or revoked, and Collateral Agent and Lenders may rely on them until Collateral Agent and each Lender receives written notice of revocation from Borrower.

[Balance of Page Intentionally Left Blank]

 

 

 

 

Resolved, that any one of the following officers or employees of Borrower, whose names, titles and signatures are below, may act on behalf of Borrower:

	
Name
	
 
	
Title
	
 
	
Signature
	
 
	
Authorized to 

Add or Remove Signatories

	
Heidi Henson
	
 
	
CFO
	
 
	
/s/ Heidi Henson
	
 
	
☒

	
Jackie Tran
	
 
	
VP, Finance
	
 
	
/s/ Jackie Tran
	
 
	
☒

	
 
	
 
	
 
	
 
	
 
	
 
	
□

	
 
	
 
	
     
	
 
	
 
	
 
	
□

	
 
	
 
	
 
	
 
	
 
	
 
	
 

 

Resolved Further, that any one of the persons designated above with a checked box beside his or her name may, from time to time, add or remove any individuals to and from the above list of persons authorized to act on behalf of Borrower.

Resolved Further, that such individuals may, on behalf of Borrower:

Borrow Money.  Borrow money from Lenders.

Execute Loan Documents.  Execute any loan documents Collateral Agent or any Lender requires. 

Grant Security.  Grant Collateral Agent and Lenders a security interest in any of Borrower’s assets.

Negotiate Items.  Negotiate or discount all drafts, trade acceptances, promissory notes, or other indebtedness in which Borrower has an interest and receive cash or otherwise use the proceeds.

Further Acts.  Designate other individuals to request advances, pay fees and costs and execute other documents or agreements (including documents or agreement that waive Borrower’s right to a jury trial) they believe to be necessary to effectuate such resolutions.

 

Resolved Further, that all acts authorized by the above resolutions and any prior acts relating thereto are ratified.

5.The persons listed above are Borrower’s officers or employees with their titles and signatures shown next to their names.

	
By:
	
/s/ Annette North

	
Name:
	
     Annette North

	
Title:
	
     Assistant Secretary

 

*** If the Secretary, Assistant Secretary or other certifying officer executing above is designated by the resolutions set forth in paragraph 4 as one of the authorized signing officers, this Certificate must also be signed by a second authorized officer or director of Borrower.

	
I, the __________________________ of Borrower, hereby certify as to paragraphs 1 through 5 above, as 
	

[print title]

of the date set forth above.

	
By:
	
 

	
Name:
	
 

	
Title:
	
 

 

 

 

EXHIBIT A

Articles/Certificate of Incorporation (including amendments)

[see attached]

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