- French biotech Cellectis S.A. ( NASDAQ: CLLS ) ( OTCPK:CMVLF ) added ~9% pre-market Monday after announcing changes to the certain financial terms of its partnership with cancer-focused biotech Cytovia Therapeutics.
- The amendments relate to the $20M convertible note Cytovia issued as an upfront payment in connection with the research collaboration and non-exclusive license agreement.
- The changes include the automatic conversion of the convertible note into Cytovia common stock if there are certain significant transactions to take the company public.
- In other changes, the two companies have agreed to raise the applicable interest rate of the note to 10% per annum, subject to certain conditions.
- In 2021, Cellectis ( CLLS ) partnered with Cytovia to develop gene edited Natural Killer (NK) and Chimeric Antigen Receptor (CAR)-NK cells derived from induced pluripotent stem cells (iPSCs)
For further details see:
Cellectis rises as terms of Cytovia licensing deal change