Item 1.02. Termination of a Material Definitive Agreement.
Idera Pharmaceuticals, Inc. (the "Company") received notification from Novartis International Pharmaceutical Ltd. ("Novartis") that Novartis had terminated the Research Collaboration and Option Agreement (the "Research Agreement") dated May 31, 2005, by and between the Company and Novartis, effective as of February 21, 2010, in accordance with the terms thereof.
In accordance with the termination provisions of the Research Agreement, upon termination the Company will regain all rights to IMO-2134, a novel agonist of TLR9 created by the Company, without any financial obligations to Novartis, and will no longer subject to restrictions on its right to develop its Toll-like Receptor (TLR)-targeted compounds, including its TLR antagonists and TLR antisense oligonucleotides, for respiratory diseases.
The Company's entry into the Research Agreement, as well as the related License, Development and Commercialization Agreement between the parties, which did not and will not become effective, was reported in its Current Report on Form 8-K filed with the Securities and Exchange Commission on June 6, 2005, which Current Report is incorporated herein by reference.
A copy of the Company's press release announcing the termination of the Research Agreement issued on November 25, 2009 is filed as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
99.1 Press release issued by Idera Pharmaceuticals, Inc. on November 25, 2009

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