Eloxx Pharmaceuticals Enters Material Definitive Agreement

TL;DR

Eloxx Pharma just signed a big deal, filing an 8-K on it.

AI Summary

On March 11, 2024, Eloxx Pharmaceuticals, Inc. entered into a Material Definitive Agreement. The company, formerly known as Sevion Therapeutics, Inc., is incorporated in Delaware and headquartered in Watertown, MA.

Why It Matters

This filing indicates a significant development for Eloxx Pharmaceuticals, potentially impacting its strategic direction and future operations.

Risk Assessment

Risk Level: medium — Entering into a material definitive agreement can introduce new risks and opportunities, the specifics of which are not detailed in this initial filing.

Key Players & Entities

• Eloxx Pharmaceuticals, Inc. (company) — Registrant
• Sevion Therapeutics, Inc. (company) — Former company name
• March 11, 2024 (date) — Date of earliest event reported
• Watertown, MA (location) — Company headquarters

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value per share ELOX The Nasdaq C
• $3.0 million — t, Eloxx received an upfront payment of $3.0 million and is eligible to receive additional p
• $470.0 m — egulatory and sales milestones of up to $470.0 million, as well as tiered royalties base

Filing Documents

• tm248887d1_8k.htm (8-K) — 30KB
• 0001104659-24-034529.txt ( ) — 199KB
• elox-20240311.xsd (EX-101.SCH) — 3KB
• elox-20240311_lab.xml (EX-101.LAB) — 33KB
• elox-20240311_pre.xml (EX-101.PRE) — 22KB
• tm248887d1_8k_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On March 11, 2024, Eloxx Pharmaceuticals, Inc. (the "Company" or "Eloxx") entered into an exclusive license agreement with Almirall, S.A. ("Almirall") covering the Company's asset ZKN-013 (the "License Agreement"). Under the terms of the License Agreement, Almirall obtained global rights to develop and commercialize ZKN-013 for the potential treatment of rare dermatological and other diseases associated with nonsense mutations. ZKN-013 is a Phase I ready oral therapy designed to overcome nonsense mutations that cause a premature stop codon resulting in nonfunctional protein production for example in recessive Dystrophic Epidermolysis Bullosa, Junctional Epidermolysis Bullosa and familial adenomatous polyposis. This drug candidate is expected to enter into Phase I development in healthy volunteers. Pursuant to the License Agreement, Eloxx received an upfront payment of $3.0 million and is eligible to receive additional payments throughout the potential development phases, including regulatory and sales milestones of up to $470.0 million, as well as tiered royalties based on any potential future global sales.

Forward-Looking Statements

Forward-Looking Statements This Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this Form 8-K, including without limitation, statements regarding the parties' expected actions under the License Agreement, the anticipated benefits of the partnership with Almirall under the License Agreement, expectations about the achievement of key milestones and receipt of any milestone, royalty, or other payments and the expected clinical development and efficacy of ZKN-013, are all forward-looking statements. Forward-looking statements can be identified by the words "aim," "may," "will," "would," "should," "expect," "explore," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential," "seeks," or "continue" or the negative of these terms similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on management's current plans, estimates, assumptions and projections based on information currently available to us. Forward-looking statements are subject to known and unknown risks, uncertainties and assumptions, and actual results or outcomes may differ materially from those expressed or implied in the forward-looking statements due to various important factors, including, but not limited to: the Company's ability, or the Company's licensees' ability, to progress any product candidates in preclinical or clinical trials; the uncertainty of clinical trial results and the fact that positive results from preclinical studies are not always indicative of positive clinical results; the scope, rate and progress of the Company's, and the Company's licensees' preclinical studies and clinical trials and other research and development activities; the competition for patient enrollment from drug candidates in development; the Com

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 hereunto duly authorized. Date: March 14, 2024 ELOXX PHARMACEUTICALS, INC. By: /s/ Sumit Aggarwal Name: Sumit Aggarwal Title: President and Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR