UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 1.01 | Entry into a Material Definitive Agreement. |
Effective June 30, 2023 (the “Effective Date”), PaxMedica, Inc. (the “Company”) entered into a Specialty Benefit Manager Agreement (the “Agreement”) with Vox Nova, LLC (“Vox Nova”), pursuant to which Vox Nova will act as the exclusive United States distributor for the Company’s lead pipeline asset, PAX-101 intravenous suramin. Pursuant to the Agreement, Vox Nova will provide certain distribution management, pharmacy benefit management, sales and supply monitoring services to the Company with respect to PAX-101, in the event PAX-101 receives FDA approval.
The Agreement also provides for an exclusivity fee payable to the Company of up to $2,000,000, payable in installments based on various time and regulatory approval parameters.
The Agreement terminates upon the earlier of: (i) the seventh (7th) anniversary of the Effective Date or (ii) the date three (3) years immediately following the date PAX-101 (intravenous suramin) is approved by the United States for the treatment of Human African Trypanosomiasis; provided, that the Agreement term shall be automatically renewed for successive three (3) year periods, unless either party notifies the other party in writing at least sixty (60) days prior to the conclusion of the Agreement term, that such party intends to terminate the Agreement.
The Company intends to file a copy of the Agreement as an exhibit to its next periodic report filed under the Securities Exchange Act of 1934, as amended.
On July 6, 2023, the Company issued a press release with respect to the foregoing which is filed herewith as Exhibit 99.1 hereto.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits – The following exhibits are filed as part of this report:
| Exhibit No. | Description of Exhibit |
| 99.1 | Press Release dated July 6, 2023 |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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.
| PaxMedica, Inc. | ||
| By: | /s/ Howard J. Weisman | |
| Name: | Howard J. Weisman | |
| Title: | Chief Executive Officer |
Date: July 6, 2023