SECURITIES AND EXCHANGE COMMISSION
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|Item 1.01.|| |
Entry into a Material Definitive Agreement.
On November 20, 2020, Eiger BioPharmaceuticals, Inc. (the “Company”) entered into an asset purchase agreement (the “Agreement”) with AbbVie Inc. (“AbbVie”) to sell its Rare Pediatric Disease Priority Review Voucher (“PRV”) to AbbVie.
The Company was awarded the PRV on November 20, 2020 upon approval by the U.S. Food and Drug Administration of the Company’s new drug application for ZokinvyTM in Hutchinson-Gilford Progeria Syndrome and processing-deficient Progeroid Laminopathies.
In consideration for the PRV, AbbVie will pay the Company $95.0 million upon closing of the PRV purchase. Such consideration received will be shared with The Progeria Research Foundation (“PRF”) in accordance with the terms of the Company’s Collaboration and Supply Agreement with PRF, dated May 15, 2018, pursuant to which the Company and PRF will equally share any proceeds from the sale of a priority review voucher that the Company may receive as the sponsor of a rare pediatric disease product application. The Company will retain approximately $47.5 million of the proceeds.
The Agreement contains customary representations, warranties, covenants, and indemnification provisions subject to certain limitations. The transaction remains subject to customary closing conditions, including the expiration or termination of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
The foregoing description of the Agreement does not purport to be complete and is subject to, and qualified in its entirety by reference to, the full text of the Agreement. The Company intends to file, with confidential terms redacted, a copy of the Agreement as an exhibit to the Company’s Annual Report on Form 10-K for the fiscal year ending December 31, 2020.
|Item 2.01.|| |
Completion of Acquisition or Disposition of Assets.
The disclosure regarding the Agreement contained in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.01.
|Item 8.01.|| |
On November 23, 2020, the Company issued a press release announcing the Agreement, a copy of which is attached hereto as Exhibit 99.1 and incorporated by reference herein.
|Item 9.01.|| |
Financial Statements and Exhibits.
|99.1||Press release, dated November 23, 2020, titled “Eiger BioPharmaceuticals Sells Priority Review Voucher for $95 Million.”|
|104||Cover Page Interactive Data File (embedded within the Inline XBRL document).|
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|Eiger BioPharmaceuticals, Inc.|
|Dated: November 23, 2020|
|Chief Financial Officer|