SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): February 28, 2019
(Exact Name of the Registrant as Specified in Its Charter)
(State or Other Jurisdiction of Incorporation)
275 Middlefield Road, Suite 150
Menlo Park, California
|(Address of Principal Executive Offices)||(Zip Code)|
(Registrants Telephone Number, Including Area Code)
(Former Name or Former Address, If Changed Since Last Report)
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|Item 1.01|| |
Entry into a Material Definitive Agreement.
On February 28, 2019, Dermira, Inc. (Dermira) entered into the First Amendment to License Agreement (the Amendment) with F. Hoffmann-La Roche Ltd and Genentech, Inc. (together, Roche), which amends the License Agreement, dated August 8, 2017, by and between Dermira and Roche to, among other things:
provide that Roche will supply Dermira with up to approximately $16 million in existing lebrikizumab drug substance, free of charge;
reduce Dermiras milestone payment obligation to Roche in connection with the initiation of Dermiras first Phase 3 clinical study of lebrikizumab from $40 million to $20 million;
eliminate Dermiras milestone payment obligation to Roche upon the submission of the first application for regulatory approval of lebrikizumab in the United States, reducing the aggregate amount payable by Dermira to Roche in connection with the submission of applications for regulatory approval of lebrikizumab in certain territories from $50 million to $20 million; and
revise Dermiras obligation to make royalty payments representing percentages of tiers of annual net sales of lebrikizumab such that the percentages are increased but the range of percentages still begins in the high single-digits for the first annual net sales tier and ends in the high teens for annual net sales in excess of $3 billion.
The foregoing summary of the Amendment does not purport to be complete and is subject to, and qualified in its entirety by, the Amendment, which will be filed as an exhibit to Dermiras Quarterly Report on Form 10-Q for the quarter ending March 31, 2019.
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|Date: February 28, 2019||By:|
Andrew L. Guggenhime
Chief Financial Officer