Adicet Bio Terminates Regeneron Deal
Ticker: ACET · Form: 8-K · Filed: Nov 27, 2024 · CIK: 1720580
| Field | Detail |
|---|---|
| Company | Adicet Bio, Inc. (ACET) |
| Form Type | 8-K |
| Filed Date | Nov 27, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001, $10,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: termination, collaboration-agreement, licensing
TL;DR
Adicet Bio just axed its big deal with Regeneron, effective Nov 27, 2024. Big changes ahead.
AI Summary
Adicet Bio, Inc. announced on November 27, 2024, the termination of its material definitive agreement with Regeneron Pharmaceuticals, Inc. This termination relates to their collaboration and license agreement concerning Adicet's allogeneic gamma delta T cell therapies. The agreement was originally entered into on January 11, 2022.
Why It Matters
The termination of this significant collaboration agreement could impact Adicet Bio's future development pipeline and financial outlook, potentially requiring them to seek new partnerships or funding.
Risk Assessment
Risk Level: medium — Termination of a material definitive agreement, especially one with a major partner like Regeneron, introduces significant uncertainty regarding future development and revenue streams.
Key Players & Entities
- Adicet Bio, Inc. (company) — Registrant
- Regeneron Pharmaceuticals, Inc. (company) — Partner in terminated agreement
- January 11, 2022 (date) — Date of original agreement
- November 27, 2024 (date) — Date of termination
FAQ
What was the nature of the material definitive agreement between Adicet Bio and Regeneron?
The agreement was a collaboration and license agreement concerning Adicet Bio's allogeneic gamma delta T cell therapies.
When was the original agreement between Adicet Bio and Regeneron entered into?
The original agreement was entered into on January 11, 2022.
What is the effective date of the termination of the agreement?
The termination is effective as of November 27, 2024.
What is Adicet Bio's primary business focus mentioned in the filing?
Adicet Bio's focus is on allogeneic gamma delta T cell therapies.
What is Adicet Bio's principal executive office address?
Adicet Bio's principal executive office is located at 131 Dartmouth Street, Floor 3, Boston, Massachusetts 02116.
Filing Stats: 495 words · 2 min read · ~2 pages · Grade level 13.9 · Accepted 2024-11-27 17:12:04
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share ACET The Nasdaq Global Ma
- $10,000 — to pay Banc of California approximately $10,000 in repayment of the Company's outstandi
Filing Documents
- acet-20241127.htm (8-K) — 38KB
- 0000950170-24-131609.txt ( ) — 148KB
- acet-20241127.xsd (EX-101.SCH) — 24KB
- acet-20241127_htm.xml (XML) — 5KB
02 Termination of a Material Definitive Agreement
Item 1.02 Termination of a Material Definitive Agreement. On November 27, 2024, Adicet Therapeutics, Inc. (the "Subsidiary"), a Delaware corporation and wholly-owned subsidiary of Adicet Bio, Inc. (the "Guarantor", and together with the Subsidiary, the "Company"), and Banc of California (formerly known as Pacific Western Bank) ("Banc of California") executed a payoff letter (the "Payoff Letter") to repay in full all outstanding indebtedness and terminate all commitments and obligations, subject to certain exceptions, under that certain Loan and Security Agreement (the "Loan Agreement"), dated as of April 28, 2020, as amended. Under the Payoff Letter, the Company agreed to pay Banc of California approximately $10,000 in repayment of the Company's outstanding obligations under the Loan Agreement and establish cash collateral accounts and execute pledge and security agreements to secure ancillary services provided by Banc of California. No termination penalty was paid in connection with the Payoff Letter.
SIGNATURES
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 thereunto duly authorized. ADICET BIO, INC. Date: November 27, 2024 By: /s/ Nick Harvey Name: Nick Harvey Title: Chief Financial Officer