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Clene | 8-K: Current report

SEC ·  Apr 10 05:21
Summary by Futu AI
On April 3, 2024, Clene Inc., along with its subsidiary Clene Nanomedicine, Inc., entered into a subaward agreement with Colombia University as part of a four-year, $45.1 million grant from the National Institute of Health (NIH). This grant, announced previously on October 5, 2023, is aimed at supporting the Expanded Access Program (NIH EAP) for the treatment of amyotrophic lateral sclerosis (ALS) with CNM-Au8, under the Accelerating Access to Critical Therapies for ALS Act. The subaward provides for reimbursement of up to $7.3 million for the Company's expenses related to the NIH EAP from September 25, 2023, to August 31, 2024. The total subawards to Clene under the NIH Grant could reach $30.9 million by August 31, 2027. The agreement allows for termination by either Colombia University or Clene with a 30-day notice, and also stipulates that the Company's background intellectual property developed prior to the subaward will not be licensed to Colombia or the U.S. Government. The details of the subaward are included in Exhibit 10.1 of the Form 8-K filed with the SEC.
On April 3, 2024, Clene Inc., along with its subsidiary Clene Nanomedicine, Inc., entered into a subaward agreement with Colombia University as part of a four-year, $45.1 million grant from the National Institute of Health (NIH). This grant, announced previously on October 5, 2023, is aimed at supporting the Expanded Access Program (NIH EAP) for the treatment of amyotrophic lateral sclerosis (ALS) with CNM-Au8, under the Accelerating Access to Critical Therapies for ALS Act. The subaward provides for reimbursement of up to $7.3 million for the Company's expenses related to the NIH EAP from September 25, 2023, to August 31, 2024. The total subawards to Clene under the NIH Grant could reach $30.9 million by August 31, 2027. The agreement allows for termination by either Colombia University or Clene with a 30-day notice, and also stipulates that the Company's background intellectual property developed prior to the subaward will not be licensed to Colombia or the U.S. Government. The details of the subaward are included in Exhibit 10.1 of the Form 8-K filed with the SEC.
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