UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
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Item 1.01 Entry into a Material Definitive Agreement.
On August 1, 2022, BriaCell Therapeutics Corp. (“Briacell”) entered into an exclusive license agreement (“License Agreement”) with the University of Maryland, Baltimore County (“UMBC”), to develop and commercialize Soluble CD80 (“sCD80”) as a biologic agent for the treatment of cancer.
Pursuant to the License Agreement, Briacell gained the worldwide rights to develop and commercialize sCD80 as a therapeutic agent for the treatment of cancer, while UMBC continues to hold all rights, title and interest in the inventions and the patent, except for certain rights retained by the United States government. In addition, BriaCell agreed to pay 2% royalties to UMBC upon the commercialization of sCD80 plus other development costs, including annual license maintenance fees of $15,000 per year for the fifth through seventh calendar years after entry into the License Agreement and $30,000 per year for the eighth calendar year after entry into the Agreement and each year thereafter throughout the remaining term.
Item 9.01 Financial Statements and Exhibits
EXHIBIT INDEX
| Exhibit | Description | |
| 10.1 | Exclusive License Agreement | |
| 99.1 | Press Release issued August 4, 2022 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BRIACELL THERAPEUTICS CORP. | |
| /s/ William V. Williams | |
| August 4, 2022 | William V. Williams President and Chief Executive Officer |