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ICEL > SEC Filings for ICEL > Form 8-K on 27-Dec-2013All Recent SEC Filings




Entry into a Material Definitive Agreement

Item 1.01. Entry Into A Material Definitive Agreement.

On December 20, 2013, Cellular Dynamics International, Inc. ("CDI") and Coriell Institute for Medical Research ("Coriell") entered into a Services Agreement (the "Agreement") relating to the previously announced approximately $10 million hPSC Repository grant awarded by the California Institute for Regenerative Medicine ("CIRM") to Coriell.

The terms of the Agreement provide that:

CDI will perform certain services as a subcontractor to Coriell.

CDI's work is related to Coriell's agreement with CIRM under its repository grant awarded to Coriell to maintain a bank of the induced pluripotent stem cell ("iPSC") lines created by CDI pursuant to its previously announced iPSC Derivation Agreement (the "Derivation Agreement") with CIRM and of the DCBs described below.

CDI will expand, and create up to 3,300 distribution cell banks, or "DCBs" from,
(1) the 3,000 iPSC lines derived by CDI pursuant to the Derivation Agreement and
(2) up to 300 third party pluripotent stem cell lines provided by California researchers.

CDI will also perform quality control services to ensure that the DCBs meet certain quality criteria.

CDI's work will be performed over four years for fees of up to approximately $6.3 million of CIRM's approximately $10 million repository grant to Coriell.

Coriell will not allow any person to receive any DCBs from the Coriell iPSC bank unless the person has entered into a Standard Form hiPSC License with CDI under which CDI will license or sublicense certain intellectual property owned by or licensed to CDI to the recipient of the DCBs.

CDI anticipates that it will use its existing technology and intellectual property to perform its work under the Agreement.

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