Quarterly report pursuant to Section 13 or 15(d)

License Agreement

v3.21.2
License Agreement
9 Months Ended
Sep. 30, 2021
License Agreement  
License Agreement

4License Agreement

The Company entered into a Know-How License Agreement (the “Agreement”) with the University of Alabama (“UA”) in 2012. In consideration for the Agreement, UA received a 10% non-voting membership interest in the Company. Upon the adoption of the Second Amended and Restated Operating Agreement the “Amended Operating Agreement”) on May 1, 2020, the non-voting membership interest converted to a voting membership interest, as discussed in Note 7 below. The Agreement is in effect for 25 years and will terminate on June 1, 2037.