GlycoMimetics, Inc. Enters into a Project Agreement with Patheon Manufacturing Services LLC

GlycoMimetics, Inc. has filed a FORM 8-K with the U.S. Securities and Exchange Commission on January 2, 2024, announcing an entry into a project agreement with Patheon Manufacturing Services LLC. The agreement, which is subject to the terms of a Master Services Agreement, will have Patheon manufacture and supply uproleselan, a drug candidate, for commercial sale if the Company receives marketing approval from the U.S. Food and Drug Administration. The agreement's initial term runs through December 31, 2026, and will automatically renew for additional three-year periods unless terminated.

Key Takeaways:

• GlycoMimetics, Inc. has entered into a project agreement with Patheon Manufacturing Services LLC for the commercial manufacture and supply of uproleselan.
• The agreement is subject to the Master Services Agreement and has an initial term through December 31, 2026.
• The agreement will automatically renew for additional three-year periods unless terminated.
• Patheon will be responsible for supplying raw materials, packaging components, and quality control testing services for uproleselan.
• The Company has provided Patheon with a forecast of required annual volumes through 2027.
• The agreement includes provisions for termination in the event of a material breach or business reasons.
• Upon completion, expiration, or termination, the Company will pay Patheon for all services rendered, costs, and expenses incurred, and any termination fees.

Statistics:

• Initial term: December 31, 2026
• Automatic renewal periods: three years
• Forecasted annual volumes: through 2027
• Termination notice period: 18 months for business reasons

Sources:

• UNITED STATES SECURITIES AND EXCHANGE COMMISSION. "Form 8-K OVERVIEW." UNITED STATES SECURITIES AND EXCHANGE COMMISSION, n.d., www.sec.gov/forms/8-k-overview.