Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
RPBC > SEC Filings for RPBC > Form 8-K on 30-May-2013All Recent SEC Filings

Show all filings for REDPOINT BIO CORP | Request a Trial to NEW EDGAR Online Pro

Form 8-K for REDPOINT BIO CORP


30-May-2013

Entry into a Material Definitive Agreement, Financial Statements and Exhibits


Item 1.01. Entry into a Material Definitive Agreement.

In furtherance of the strategy of Redpoint Bio Corporation (the "Company") to preserve the value of the License and Commercialization Agreement entered into with International Flavors and Fragrances, Inc., the Company continues its efforts to reduce its liabilities and sell any of its other assets. On May 23, 2013, the Company entered into a Transfer Agreement and Bill of Sale (the "Transfer Agreement") with Janssen Pharmaceuticals, Inc., a Pennsylvania corporation ("Janssen"). Pursuant to the terms and conditions of the Transfer Agreement, the Company agreed to transfer to Janssen its right, title and interest in all of its assets associated with its research programs concerning transient receptor potential channel type M5 (Trp-M5) (collectively, the "Acquired Assets") in consideration of up to Three Hundred Thousand Dollars ($300,000) (the "Total Consideration"). Janssen has paid Seventy-Five Thousand Dollars ($75,000) of the Total Consideration to the Company and the remainder shall be paid upon the achievement of certain milestones.

As of May 29, 2013, the Company had approximately $80,000 of cash and an aggregate of $650,000 in liabilities.



Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

10.1 Transfer Agreement and Bill of Sale, by and between the Company and Janssen Pharmaceuticals, Inc., dated May 23, 2013.

  Add RPBC to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for RPBC - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial      Sign Up Now


Copyright © 2014 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.