Precigen, Inc. Enters Material Definitive Agreement

TL;DR

Precigen signed a big deal, details TBD.

AI Summary

On December 18, 2024, Precigen, Inc. entered into a material definitive agreement. The filing does not provide specific details about the agreement, the other party involved, or any associated financial figures.

Why It Matters

This filing indicates a significant new contract or partnership for Precigen, Inc., which could impact its future operations and financial performance.

Risk Assessment

Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and potential impact of the agreement.

Key Players & Entities

• Precigen, Inc. (company) — Registrant
• December 18, 2024 (date) — Date of earliest event reported
• Virginia (jurisdiction) — State of incorporation
• 20374 Seneca Meadows Parkway, Germantown, Maryland 20876 (address) — Principal executive offices

FAQ

Key Financial Figures

• $8.5 million — The Company received a cash payment of $8.5 million at the closing of the asset sale, which

Filing Documents

• dp222589_8k.htm (8-K) — 24KB
• 0000950103-24-018350.txt ( ) — 192KB
• pgen-20241218.xsd (EX-101.SCH) — 3KB
• pgen-20241218_lab.xml (EX-101.LAB) — 33KB
• pgen-20241218_pre.xml (EX-101.PRE) — 22KB
• dp222589_8k_htm.xml (XML) — 3KB

01

Item 1.01 Entry into Material Definitive Agreement On December 18, 2024, Precigen, Inc. ("Precigen" or the "Company"), entered into an Asset Acquisition Agreement (the "Acquisition Agreement") with Innovator 21, LLC ("Buyer"), a Delaware limited liability company and an affiliate of Paragon Biosciences, LLC ("Paragon"), pursuant to which the Company agreed to sell to Buyer certain assets, including intellectual property rights and royalty rights, related to FCX-007, a clinical stage product candidate being developed by Castle Creek Biosciences, LLC ("Castle Creek"), a portfolio company of Paragon, for the treatment of Epidermolysis Bullosa (EB) and/or Dystrophic Epodermolysis Bullosa (DEB). The Company received a cash payment of $8.5 million at the closing of the asset sale, which occurred on December 24, 2024. The Company had previously entered into a collaboration with Castle Creek to advance certain product candidates, including FCX-007. In March 2020, the Company and Castle Creek had terminated the original collaboration agreement by mutual agreement, with the parties agreeing that certain product candidates, including FCX-007, would be treated as "Retained Products" under the terms of the original agreement. Castle Creek retained a license to continue to develop and commercialize the Retained Products within the field of use for so long as Castle Creek continued to pursue such development and commercialization and the Company was also entitled to certain royalties with respect to the Retained Products. Following the sale, the Company has no further rights or obligations with respect to Castle Creek or any programs developed in connection with its previously terminated collaboration with Castle Creek, including the rights to receive royalties from Castle Creek. The Company intends to use the proceeds of the sale for working capital and general corporate purposes. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant

View Full Filing

View this 8-K filing on SEC EDGAR