Item 1.01 Entry into a Material Definitive Agreement.
As previously disclosed, on August 27, 2012, EpiCept Corporation, (the
"Company"), together with its wholly-owned subsidiaries Maxim Pharmaceuticals
Inc. and Cytovia, Inc., entered in to a First Amendment to Loan and Security
Agreement (the "Amendment") with MidCap Funding III, LLC ("MidCap"), as agent
for the lenders.
Under the Amendment, the Company committed to signing a definitive agreement,
acceptable to MidCap, by October 15, 2012 with respect to a sale or partnering
transaction and to consummate such a transaction as soon as is practical but in
any event no later than January 15, 2013. On October 18, 2012, Midcap agreed to
extend the deadline for entering into a definitive agreement acceptable to
MidCap from October 15, 2012 to November 15, 2012.
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