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MYOS > SEC Filings for MYOS > Form 8-K on 25-Nov-2016All Recent SEC Filings

Show all filings for MYOS RENS TECHNOLOGY INC.

Form 8-K for MYOS RENS TECHNOLOGY INC.


25-Nov-2016

Entry into a Material Definitive Agreement


Item 1.01. Entry into a Material Definitive Agreement.

On November 18, 2016, MYOS RENS Technology Inc. (the "Company") entered into an Amended Supply Agreement (the "Agreement") with DIL Technologie GmbH ("DIL"). Pursuant to the Agreement (and so long as the Agreement is effective), DIL will manufacture and supply the Company with Fortetropin®, the active ingredient for its products, and the Company will purchase quantities of Fortetropin® from DIL in its discretion. DIL will manufacture the formula exclusively for the Company in perpetuity, and may not manufacture the formula for other entities (but may manufacture it for its own non-commercial research). The Company agreed, commencing January 2017, to pay DIL €10,000 per month for collaborative research. The monthly payments terminate upon the earlier of: (a) the date that the Company orders additional product in accordance with the terms of the Agreement and (b) December 31, 2018, and the Company has no further financial obligations to DIL thereafter. The Company also agreed to pay DIL €400,000 in satisfaction of all prior liabilities and obligations under its prior agreements with DIL. The Agreement expires on December 31, 2018, and the Company has the unilateral right to renew the Agreement for subsequent one-year terms.

The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the text of the Agreement, which will be filed with the Securities and Exchange Commission as an exhibit to the Company's Annual Report on Form 10-K for the year ending December 31, 2016.

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