UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 8.01 Other Events.
In January 2017, Calithera Biosciences, Inc. and Incyte Corporation entered into a Collaboration and License Agreement, or the License Agreement. Pursuant to the License Agreement, our product candidate INCB001158 is being developed by Incyte for oncology and hematology indications. INCB001158 is an oral inhibitor of arginase, an immunosuppressive enzyme that depletes the amino acid arginine, a key metabolic nutrient required for activation of T-cells.
On April 10, 2020, we filed a complaint against Incyte in the Superior Court of California asserting claims for breach of contract arising out of Incyte’s failure to pay two milestone payments we believe are due under our agreement with Incyte.
On September 14, 2021, we entered into a Settlement Agreement and Release with Incyte, or the Settlement Agreement. Pursuant to the Settlement Agreement, which resolves all claims in the complaint without any admission of liability or fault, Incyte will pay us a negotiated settlement amount and the parties have exchanged mutual releases. Concurrently, the parties also filed a dismissal of the action in the Superior Court of California.
SIGNATURES
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.
| Dated: September 16, 2021 | Calithera Biosciences, Inc. | |||||
| By: | /s/ Susan M. Molineaux | |||||
| Susan M. Molineaux, Ph.D. | ||||||
| President and Chief Executive Officer | ||||||