Item 1.01 Entry into a Material Definitive Agreement.
On January 8, 2020, Ziopharm Oncology, Inc. (the "Company") entered into an
amendment to the patent license agreement (the "Amendment") with the National
Cancer Institute (the "NCI"). The Amendment amended the patent license
agreement, dated May 28, 2019, between the Company and the NCI (the "License")
pursuant to which the Company holds an exclusive, worldwide license to certain
intellectual property to develop and commercialize patient-derived (autologous),
peripheral blood T-cell therapy products engineered by transposon-mediated gene
transfer to express T-cell receptors ("TCRs") reactive to mutated KRAS, TP53 and
EGFR. The terms of the License were described in the Company's Current Report on
Form 8-K filed with the Securities and Exchange Commission on May 28, 2019.
Pursuant to the Amendment, the Company expanded the TCR library licensed from
the NCI to include additional TCRs reactive to mutated KRAS and TP53. The
Company's license to develop and commercialize products based on the additional
TCRs are subject to the same limitations and obligations set out in the original
License. The Company is required to pay the NCI a cash payment of $600,000
within sixty days of the execution date of the Amendment and is required to make
the performance-based payments and benchmark payments included in the License
for products that include the additional TCRs.
The foregoing description of the material terms of the Amendment does not
purport to be complete and is subject to, and is qualified in its entirety by,
reference to the Amendment, which will be filed as an exhibit to the Company's
Quarterly Report on Form 10-Q for the quarter ending March 31, 2020 and is
incorporated by reference herein. Portions of the Amendment may be subject to a
confidential treatment request to the Securities and Exchange Commission
pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.
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