[sheet: Closing Checklist]

Item No.	Category	Description of Deliverable	Responsible Party	Due Date	Date Completed	Status	Notes / Comments
1	Transaction Agreements	Exclusive License Agreement — Execution Version, dated October 2, 2023, between Penterra Pharmaceuticals Corp. (Licensor) and Meridian Bio Therapeutics Limited (Licensee) for compound PPC-4187 (Penteracitinib); Effective Date October 20, 2023; total deal value $120,000,000	Calderwood & Harkness LLP / Lam, Cheung & Firth LLP	10/02/2023	10/02/2023	Complete	Signed by Anita M. Fremont (Penterra GC) and David R. Cheung (Meridian GC). Original counterparts held by C&H.
2	Transaction Agreements	Schedule A to License Agreement — Licensed Patents (7 patent families: U.S. Pat. Nos. 11,234,567 and 11,345,678; PCT/US2019/045123 national phase entries; CN Pat. No. ZL 2020 1 0456789.0; JP Pat. No. 7,012,345; KR Pat. No. 10-2345678; AU Pat. No. 2020234567; pending applications in SG, TH, MY, ID, PH, VN, TW)	Calderwood & Harkness LLP	10/02/2023	10/02/2023	Complete	Attached to execution version of License Agreement.
3	Transaction Agreements	Schedule B to License Agreement — Licensed Know-How (pre-clinical and clinical data packages including Study PPC-4187-201, manufacturing process for 25 mg and 50 mg tablets, analytical methods, stability data, CMC documentation from Alkerra Manufacturing Inc.)	Calderwood & Harkness LLP	10/02/2023	10/02/2023	Complete	Attached to execution version of License Agreement.
4	Transaction Agreements	Schedule C to License Agreement — Licensed Trademarks (PENTECLAR — U.S. Reg. No. 6,789,012; filings/registrations in HK, CN, JP, KR, AU, and additional Territory jurisdictions)	Calderwood & Harkness LLP	10/02/2023	10/02/2023	Complete	Attached to execution version of License Agreement.
5	Transaction Agreements	Schedule D to License Agreement — Territory (PRC incl. Hong Kong SAR and Macau SAR, Japan, Republic of Korea, Australia, New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Vietnam, Taiwan)	Calderwood & Harkness LLP	10/02/2023	10/02/2023	Complete	Attached to execution version of License Agreement.
6	Transaction Agreements	Schedule E to License Agreement — Development Plan (Phase III development plan for Territory; milestone trigger events: $6M, $8M, $10M, $8M)	Calderwood & Harkness LLP	10/02/2023	10/02/2023	Complete	Attached to execution version of License Agreement.
7	Transaction Agreements	Schedule F to License Agreement — Most Favored Nation Pricing Methodology (reference price definitions, 15% floor below lowest U.S./EU5 net price, quarterly reconciliation within 45 days of quarter end, MFN adjustment payment formula)	Calderwood & Harkness LLP	10/02/2023	10/02/2023	Complete	Attached to execution version of License Agreement.
8	Transaction Agreements	Escrow Agreement — Execution Version, dated October 2, 2023, among Penterra, Meridian, and Velthorn National Bank, N.A. (Escrow Agent: Teresa M. D'Angelo); governs $18,000,000 upfront payment deposit and release; escrow fee $15,000 flat + $2,500/quarter	Calderwood & Harkness LLP / Lam, Cheung & Firth LLP / Velthorn National Bank	10/02/2023	10/02/2023	Complete	Governed by New York law. Originals distributed to all parties.
9	Transaction Agreements	API Supply Agreement between Penterra and Meridian — clinical and commercial API supply at cost plus 15% markup; initial 3-year term post-closing; references Alkerra Manufacturing Inc. as CMO	Calderwood & Harkness LLP	10/02/2023	10/02/2023	Complete	Signed concurrently with License Agreement.
10	Transaction Agreements	Technology Transfer Agreement between Penterra and Meridian — transfer of PPC-4187 manufacturing process know-how, analytical methods, and CMC documentation; completion deadline: 24 months from Effective Date (October 20, 2025)	Calderwood & Harkness LLP	10/02/2023	10/02/2023	Complete	Post-closing performance tracked separately.
11	Transaction Agreements	Trademark License Agreement — Penterra to Meridian for PENTECLAR mark in Territory (exclusive license for commercialization of PPC-4187)	Calderwood & Harkness LLP	10/02/2023	10/02/2023	Complete	Includes quality control standards and usage guidelines.
12	Transaction Agreements	Pharmacovigilance Agreement between Penterra and Meridian — adverse event reporting, safety data exchange, PSUR obligations, global safety database responsibilities per ICH E2B/E2D	Calderwood & Harkness LLP	10/02/2023	10/02/2023	Complete	Signed concurrently with License Agreement.
13	Transaction Agreements	Quality Agreement (Form) — between Penterra and Meridian governing API supply specifications, quality standards, change control, deviation handling; to be executed within 60 days of Effective Date	Calderwood & Harkness LLP	10/02/2023	10/02/2023	Complete	Form attached as exhibit to License Agreement. Execution deadline: December 19, 2023 (post-closing obligation).
14	Closing Certificates — Penterra	Officer's Certificate — Penterra Pharmaceuticals Corp., signed by Anita M. Fremont, General Counsel, certifying representations and warranties true and correct as of closing, covenants performed, Board authorized transaction on July 18, 2023	Calderwood & Harkness LLP / Penterra	10/20/2023	10/20/2023	Complete	Dated October 20, 2023.
15	Closing Certificates — Penterra	Secretary's Certificate — Penterra Pharmaceuticals Corp. certifying board resolutions authorizing out-license of PPC-4187, incumbency of officers, certified copies of Certificate of Incorporation and Bylaws; Delaware corporation, EIN 22-3948175	Calderwood & Harkness LLP / Penterra	10/20/2023	10/20/2023	Complete	Dated October 20, 2023.
16	Closing Certificates — Penterra	Good Standing Certificate — Penterra Pharmaceuticals Corp. from Delaware Secretary of State	Calderwood & Harkness LLP / Penterra	10/20/2023	10/12/2023	Complete	Certificate obtained October 12, 2023; dated within required period of closing.
17	Closing Certificates — Meridian	Officer's Certificate — Meridian Bio Therapeutics Limited, signed by David R. Cheung, General Counsel, certifying representations and warranties true and correct as of closing, covenants performed	Lam, Cheung & Firth LLP / Meridian	10/20/2023	10/20/2023	Complete	Dated October 20, 2023.
18	Closing Certificates — Meridian	Secretary's/Director's Certificate — Meridian Bio Therapeutics Limited (HK Company Reg. No. 2847631) certifying board resolutions, incumbency of authorized signatories, organizational documents	Lam, Cheung & Firth LLP / Meridian	10/20/2023	10/20/2023	Complete	Dated October 20, 2023.
19	Legal Opinions	Legal Opinion — Calderwood & Harkness LLP to Meridian Bio Therapeutics Ltd. (Marcus Delgado) re: Penterra duly organized and in good standing in Delaware; License Agreement and ancillary agreements duly authorized, executed, and delivered; valid and binding obligations; no conflicts with organizational documents or New York law	Calderwood & Harkness LLP	10/20/2023	10/20/2023	Complete	Subject to customary qualifications and assumptions.
20	Legal Opinions	Legal Opinion — Lam, Cheung & Firth LLP to Penterra Pharmaceuticals Corp. (Jonathan M. Firth) re: Meridian duly organized; License Agreement and ancillary agreements duly authorized, executed, and delivered; valid and binding obligations; no conflicts	Lam, Cheung & Firth LLP	10/20/2023	10/20/2023	Complete	Subject to customary qualifications and assumptions.
21	Escrow / Funding	Escrow Funding by Meridian — $18,000,000 upfront payment deposited into escrow account at Velthorn National Bank, N.A.	Meridian / Velthorn National Bank	10/09/2023	10/06/2023	Complete	Funded October 6, 2023, ahead of scheduled closing date.
22	Escrow / Funding	Escrow Funding Confirmation Letter — Velthorn National Bank, N.A. (Teresa M. D'Angelo) confirming receipt of $18,000,000 from Meridian	Velthorn National Bank	10/09/2023	10/06/2023	Complete	Letter dated October 6, 2023; addressed to Penterra, Meridian, Calderwood & Harkness, and Lam, Cheung & Firth.
23	Escrow / Funding	Escrow Release of Upfront Payment ($18,000,000) to Penterra upon satisfaction of closing conditions	Velthorn National Bank / Calderwood & Harkness LLP	10/20/2023	10/20/2023	Complete	Released on Actual Closing / Effective Date, October 20, 2023.
24	Regulatory / Antitrust	HSR Act / Antitrust Clearance — Confirmation that no HSR filing required (transaction is a pure IP license, does not meet HSR Act thresholds — no acquisition of voting securities or assets)	Calderwood & Harkness LLP	10/09/2023	10/05/2023	Complete	Confirmed October 5, 2023. No filing required.

25	Regulatory / Antitrust	CFIUS Review — Confirmation not applicable (no foreign acquisition of U.S. business)	Calderwood & Harkness LLP	10/09/2023	10/05/2023	Complete	Not applicable; confirmed.
26	Regulatory / Antitrust	China MOFCOM/SAMR — Meridian to evaluate Technology Import/Export filing requirement under PRC Technology Import and Export Administration Regulations	Lam, Cheung & Firth LLP / Meridian Shanghai	10/20/2023	10/20/2023	Complete	Meridian confirmed evaluation complete; filing to be made post-closing as required.
27	IP Recordation	IP Assignment / License Recordation — Filing in U.S. (USPTO)	Whitford & Cascade Insurance Brokers / Calderwood & Harkness LLP	10/20/2023	10/11/2023	Complete	Filed and recorded.
28	IP Recordation	IP Assignment / License Recordation — Filing in China (CNIPA)	Lam, Cheung & Firth LLP / Meridian Shanghai	10/20/2023	10/15/2023	Complete	Filed and recorded.
29	IP Recordation	IP Assignment / License Recordation — Filing in Japan (JPO)	Nakamura & Takeda Law Offices	10/20/2023	10/16/2023	Complete	Filed and recorded.
30	IP Recordation	IP Assignment / License Recordation — Filing in South Korea (KIPO)	Lam, Cheung & Firth LLP / Meridian Korea	10/20/2023	10/17/2023	Complete	Filed and recorded.
31	IP Recordation	IP Assignment / License Recordation — Filing in Australia (IP Australia)	Lam, Cheung & Firth LLP / Meridian Australia	10/20/2023	10/18/2023	Complete	Last jurisdiction completed October 18, 2023.
32	IP Recordation	IP Assignment / License Recordation — Filings in remaining Territory jurisdictions (SG, TH, MY, ID, PH, VN, TW, NZ, HK, Macau)	Lam, Cheung & Firth LLP / Meridian	Post-Closing	Pending	Post-closing obligation; to be completed on a rolling basis. Tracked in Post-Closing Obligations Tracker.
33	Third-Party Confirmations	Prescott Hale & Co. LLC — Financial advisor confirmation of deal closing and fee invoice ($1,500,000 advisory fee: $300,000 success fee [1.25% × $24M] + $1,200,000 flat fee)	Prescott Hale / Penterra	10/20/2023	10/20/2023	Complete	Invoice submitted; payment to be processed by Penterra per engagement terms.
34	Third-Party Confirmations	Jade Dragon Insurance Limited — Confirmation of clinical trial insurance and product liability coverage for Meridian's activities under the license	Lam, Cheung & Firth LLP / Meridian	10/20/2023	10/19/2023	Complete	Certificate of insurance received from Christine A. Lo, Underwriter.
35	Post-Closing Obligations (for tracking reference)	Quality Agreement — Execution by Penterra and Meridian	Calderwood & Harkness LLP / Lam, Cheung & Firth LLP	12/19/2023	Pending	Due within 60 days of Effective Date (December 19, 2023).
36	Post-Closing Obligations (for tracking reference)	Technology Transfer — Completion of manufacturing process transfer to Meridian's designated APAC manufacturer	Penterra / Meridian	10/20/2025	Pending	Due within 24 months of Effective Date (October 20, 2025).
37	Post-Closing Obligations (for tracking reference)	JSC Formation — Joint Steering Committee (3 representatives from each party); first meeting to be scheduled	Penterra / Meridian	Post-Closing	Pending	Quarterly meetings per License Agreement.
38	Post-Closing Obligations (for tracking reference)	JPC Formation — Joint Patent Committee (2 representatives from each party)	Penterra / Meridian	Post-Closing	Pending	Oversees patent prosecution, maintenance, and enforcement in Territory.
39	Post-Closing Obligations (for tracking reference)	PRC Foreign Exchange — Outbound remittance approvals for milestone and royalty payments to be obtained by Meridian Pharma (Shanghai) Co., Ltd.	Meridian Shanghai	Ongoing	Pending	Required for future milestone and royalty payments.
SUMMARY	Total Items: 39

Complete: 33

Pending: 6

N/A: 0

[sheet: Matter Information]

Field	Value
Matter	Out-License of PPC-4187 (Penteracitinib) — Penterra Pharmaceuticals Corp. to Meridian Bio Therapeutics Ltd.
Client	Penterra Pharmaceuticals Corp. (Nasdaq: PNTR)
Client Address	400 Pharma Drive, Suite 800, Princeton, NJ 08540
Counterparty	Meridian Bio Therapeutics Limited (HK Company Reg. No. 2847631)
Counterparty Address	18/F, Blossom Tower, 88 Queen's Road Central, Hong Kong SAR
Counsel for Licensor	Calderwood & Harkness LLP, 600 Lexington Avenue, 30th Floor, New York, NY 10022
Counsel for Licensee	Lam, Cheung & Firth LLP, 25/F, Jardine House, 1 Connaught Place, Central, Hong Kong SAR
Escrow Agent	Velthorn National Bank, N.A., 383 Madison Avenue, New York, NY 10179
Responsible Partner	Marcus Delgado
Billing Partner	Catherine Bloom
Lead Associate	Peter Vassiliev
Working Associate	Wendy Schultz
Tax Specialist	Sylvia Hartwell
Signing Date	October 2, 2023
Scheduled Closing Date	October 9, 2023
Actual Closing / Effective Date	October 20, 2023
Total Deal Value	$120,000,000 ($18M upfront + $32M development milestones + $25M regulatory milestones + $45M commercial milestones)
Upfront Payment	$18,000,000 (via escrow)
Governing Law	State of New York
Dispute Resolution	ICC International Court of Arbitration, New York, NY; panel of 3 arbitrators
Last Updated	October 20, 2023
Prepared By	Peter Vassiliev and Wendy Schultz, Calderwood & Harkness LLP

[sheet: Closing Checklist]
Item No. | Category | Description of Deliverable | Responsible Party | Due Date | Date Completed | Status | Notes / Comments
1 | Transaction Agreements | Exclusive License Agreement — Execution Version, dated October 2, 2023, between Penterra Pharmaceuticals Corp. (Licensor) and Meridian Bio Therapeutics Limited (Licensee) for compound PPC-4187 (Penteracitinib); Effective Date October 20, 2023; total deal value $120,000,000 | Calderwood & Harkness LLP / Lam, Cheung & Firth LLP | 10/02/2023 | 10/02/2023 | Complete | Signed by Anita M. Fremont (Penterra GC) and David R. Cheung (Meridian GC). Original counterparts held by C&H.
2 | Transaction Agreements | Schedule A to License Agreement — Licensed Patents (7 patent families: U.S. Pat. Nos. 11,234,567 and 11,345,678; PCT/US2019/045123 national phase entries; CN Pat. No. ZL 2020 1 0456789.0; JP Pat. No. 7,012,345; KR Pat. No. 10-2345678; AU Pat. No. 2020234567; pending applications in SG, TH, MY, ID, PH, VN, TW) | Calderwood & Harkness LLP | 10/02/2023 | 10/02/2023 | Complete | Attached to execution version of License Agreement.
3 | Transaction Agreements | Schedule B to License Agreement — Licensed Know-How (pre-clinical and clinical data packages including Study PPC-4187-201, manufacturing process for 25 mg and 50 mg tablets, analytical methods, stability data, CMC documentation from Alkerra Manufacturing Inc.) | Calderwood & Harkness LLP | 10/02/2023 | 10/02/2023 | Complete | Attached to execution version of License Agreement.
4 | Transaction Agreements | Schedule C to License Agreement — Licensed Trademarks (PENTECLAR — U.S. Reg. No. 6,789,012; filings/registrations in HK, CN, JP, KR, AU, and additional Territory jurisdictions) | Calderwood & Harkness LLP | 10/02/2023 | 10/02/2023 | Complete | Attached to execution version of License Agreement.
5 | Transaction Agreements | Schedule D to License Agreement — Territory (PRC incl. Hong Kong SAR and Macau SAR, Japan, Republic of Korea, Australia, New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Vietnam, Taiwan) | Calderwood & Harkness LLP | 10/02/2023 | 10/02/2023 | Complete | Attached to execution version of License Agreement.
6 | Transaction Agreements | Schedule E to License Agreement — Development Plan (Phase III development plan for Territory; milestone trigger events: $6M, $8M, $10M, $8M) | Calderwood & Harkness LLP | 10/02/2023 | 10/02/2023 | Complete | Attached to execution version of License Agreement.
7 | Transaction Agreements | Schedule F to License Agreement — Most Favored Nation Pricing Methodology (reference price definitions, 15% floor below lowest U.S./EU5 net price, quarterly reconciliation within 45 days of quarter end, MFN adjustment payment formula) | Calderwood & Harkness LLP | 10/02/2023 | 10/02/2023 | Complete | Attached to execution version of License Agreement.
8 | Transaction Agreements | Escrow Agreement — Execution Version, dated October 2, 2023, among Penterra, Meridian, and Velthorn National Bank, N.A. (Escrow Agent: Teresa M. D'Angelo); governs $18,000,000 upfront payment deposit and release; escrow fee $15,000 flat + $2,500/quarter | Calderwood & Harkness LLP / Lam, Cheung & Firth LLP / Velthorn National Bank | 10/02/2023 | 10/02/2023 | Complete | Governed by New York law. Originals distributed to all parties.
9 | Transaction Agreements | API Supply Agreement between Penterra and Meridian — clinical and commercial API supply at cost plus 15% markup; initial 3-year term post-closing; references Alkerra Manufacturing Inc. as CMO | Calderwood & Harkness LLP | 10/02/2023 | 10/02/2023 | Complete | Signed concurrently with License Agreement.
10 | Transaction Agreements | Technology Transfer Agreement between Penterra and Meridian — transfer of PPC-4187 manufacturing process know-how, analytical methods, and CMC documentation; completion deadline: 24 months from Effective Date (October 20, 2025) | Calderwood & Harkness LLP | 10/02/2023 | 10/02/2023 | Complete | Post-closing performance tracked separately.
11 | Transaction Agreements | Trademark License Agreement — Penterra to Meridian for PENTECLAR mark in Territory (exclusive license for commercialization of PPC-4187) | Calderwood & Harkness LLP | 10/02/2023 | 10/02/2023 | Complete | Includes quality control standards and usage guidelines.
12 | Transaction Agreements | Pharmacovigilance Agreement between Penterra and Meridian — adverse event reporting, safety data exchange, PSUR obligations, global safety database responsibilities per ICH E2B/E2D | Calderwood & Harkness LLP | 10/02/2023 | 10/02/2023 | Complete | Signed concurrently with License Agreement.
13 | Transaction Agreements | Quality Agreement (Form) — between Penterra and Meridian governing API supply specifications, quality standards, change control, deviation handling; to be executed within 60 days of Effective Date | Calderwood & Harkness LLP | 10/02/2023 | 10/02/2023 | Complete | Form attached as exhibit to License Agreement. Execution deadline: December 19, 2023 (post-closing obligation).
14 | Closing Certificates — Penterra | Officer's Certificate — Penterra Pharmaceuticals Corp., signed by Anita M. Fremont, General Counsel, certifying representations and warranties true and correct as of closing, covenants performed, Board authorized transaction on July 18, 2023 | Calderwood & Harkness LLP / Penterra | 10/20/2023 | 10/20/2023 | Complete | Dated October 20, 2023.
15 | Closing Certificates — Penterra | Secretary's Certificate — Penterra Pharmaceuticals Corp. certifying board resolutions authorizing out-license of PPC-4187, incumbency of officers, certified copies of Certificate of Incorporation and Bylaws; Delaware corporation, EIN 22-3948175 | Calderwood & Harkness LLP / Penterra | 10/20/2023 | 10/20/2023 | Complete | Dated October 20, 2023.
16 | Closing Certificates — Penterra | Good Standing Certificate — Penterra Pharmaceuticals Corp. from Delaware Secretary of State | Calderwood & Harkness LLP / Penterra | 10/20/2023 | 10/12/2023 | Complete | Certificate obtained October 12, 2023; dated within required period of closing.
17 | Closing Certificates — Meridian | Officer's Certificate — Meridian Bio Therapeutics Limited, signed by David R. Cheung, General Counsel, certifying representations and warranties true and correct as of closing, covenants performed | Lam, Cheung & Firth LLP / Meridian | 10/20/2023 | 10/20/2023 | Complete | Dated October 20, 2023.
18 | Closing Certificates — Meridian | Secretary's/Director's Certificate — Meridian Bio Therapeutics Limited (HK Company Reg. No. 2847631) certifying board resolutions, incumbency of authorized signatories, organizational documents | Lam, Cheung & Firth LLP / Meridian | 10/20/2023 | 10/20/2023 | Complete | Dated October 20, 2023.
19 | Legal Opinions | Legal Opinion — Calderwood & Harkness LLP to Meridian Bio Therapeutics Ltd. (Marcus Delgado) re: Penterra duly organized and in good standing in Delaware; License Agreement and ancillary agreements duly authorized, executed, and delivered; valid and binding obligations; no conflicts with organizational documents or New York law | Calderwood & Harkness LLP | 10/20/2023 | 10/20/2023 | Complete | Subject to customary qualifications and assumptions.
20 | Legal Opinions | Legal Opinion — Lam, Cheung & Firth LLP to Penterra Pharmaceuticals Corp. (Jonathan M. Firth) re: Meridian duly organized; License Agreement and ancillary agreements duly authorized, executed, and delivered; valid and binding obligations; no conflicts | Lam, Cheung & Firth LLP | 10/20/2023 | 10/20/2023 | Complete | Subject to customary qualifications and assumptions.
21 | Escrow / Funding | Escrow Funding by Meridian — $18,000,000 upfront payment deposited into escrow account at Velthorn National Bank, N.A. | Meridian / Velthorn National Bank | 10/09/2023 | 10/06/2023 | Complete | Funded October 6, 2023, ahead of scheduled closing date.
22 | Escrow / Funding | Escrow Funding Confirmation Letter — Velthorn National Bank, N.A. (Teresa M. D'Angelo) confirming receipt of $18,000,000 from Meridian | Velthorn National Bank | 10/09/2023 | 10/06/2023 | Complete | Letter dated October 6, 2023; addressed to Penterra, Meridian, Calderwood & Harkness, and Lam, Cheung & Firth.
23 | Escrow / Funding | Escrow Release of Upfront Payment ($18,000,000) to Penterra upon satisfaction of closing conditions | Velthorn National Bank / Calderwood & Harkness LLP | 10/20/2023 | 10/20/2023 | Complete | Released on Actual Closing / Effective Date, October 20, 2023.
24 | Regulatory / Antitrust | HSR Act / Antitrust Clearance — Confirmation that no HSR filing required (transaction is a pure IP license, does not meet HSR Act thresholds — no acquisition of voting securities or assets) | Calderwood & Harkness LLP | 10/09/2023 | 10/05/2023 | Complete | Confirmed October 5, 2023. No filing required.
25 | Regulatory / Antitrust | CFIUS Review — Confirmation not applicable (no foreign acquisition of U.S. business) | Calderwood & Harkness LLP | 10/09/2023 | 10/05/2023 | Complete | Not applicable; confirmed.
26 | Regulatory / Antitrust | China MOFCOM/SAMR — Meridian to evaluate Technology Import/Export filing requirement under PRC Technology Import and Export Administration Regulations | Lam, Cheung & Firth LLP / Meridian Shanghai | 10/20/2023 | 10/20/2023 | Complete | Meridian confirmed evaluation complete; filing to be made post-closing as required.
27 | IP Recordation | IP Assignment / License Recordation — Filing in U.S. (USPTO) | Whitford & Cascade Insurance Brokers / Calderwood & Harkness LLP | 10/20/2023 | 10/11/2023 | Complete | Filed and recorded.
28 | IP Recordation | IP Assignment / License Recordation — Filing in China (CNIPA) | Lam, Cheung & Firth LLP / Meridian Shanghai | 10/20/2023 | 10/15/2023 | Complete | Filed and recorded.
29 | IP Recordation | IP Assignment / License Recordation — Filing in Japan (JPO) | Nakamura & Takeda Law Offices | 10/20/2023 | 10/16/2023 | Complete | Filed and recorded.
30 | IP Recordation | IP Assignment / License Recordation — Filing in South Korea (KIPO) | Lam, Cheung & Firth LLP / Meridian Korea | 10/20/2023 | 10/17/2023 | Complete | Filed and recorded.
31 | IP Recordation | IP Assignment / License Recordation — Filing in Australia (IP Australia) | Lam, Cheung & Firth LLP / Meridian Australia | 10/20/2023 | 10/18/2023 | Complete | Last jurisdiction completed October 18, 2023.
32 | IP Recordation | IP Assignment / License Recordation — Filings in remaining Territory jurisdictions (SG, TH, MY, ID, PH, VN, TW, NZ, HK, Macau) | Lam, Cheung & Firth LLP / Meridian | Post-Closing | Pending | Post-closing obligation; to be completed on a rolling basis. Tracked in Post-Closing Obligations Tracker.
33 | Third-Party Confirmations | Prescott Hale & Co. LLC — Financial advisor confirmation of deal closing and fee invoice ($1,500,000 advisory fee: $300,000 success fee [1.25% × $24M] + $1,200,000 flat fee) | Prescott Hale / Penterra | 10/20/2023 | 10/20/2023 | Complete | Invoice submitted; payment to be processed by Penterra per engagement terms.
34 | Third-Party Confirmations | Jade Dragon Insurance Limited — Confirmation of clinical trial insurance and product liability coverage for Meridian's activities under the license | Lam, Cheung & Firth LLP / Meridian | 10/20/2023 | 10/19/2023 | Complete | Certificate of insurance received from Christine A. Lo, Underwriter.
35 | Post-Closing Obligations (for tracking reference) | Quality Agreement — Execution by Penterra and Meridian | Calderwood & Harkness LLP / Lam, Cheung & Firth LLP | 12/19/2023 | Pending | Due within 60 days of Effective Date (December 19, 2023).
36 | Post-Closing Obligations (for tracking reference) | Technology Transfer — Completion of manufacturing process transfer to Meridian's designated APAC manufacturer | Penterra / Meridian | 10/20/2025 | Pending | Due within 24 months of Effective Date (October 20, 2025).
37 | Post-Closing Obligations (for tracking reference) | JSC Formation — Joint Steering Committee (3 representatives from each party); first meeting to be scheduled | Penterra / Meridian | Post-Closing | Pending | Quarterly meetings per License Agreement.
38 | Post-Closing Obligations (for tracking reference) | JPC Formation — Joint Patent Committee (2 representatives from each party) | Penterra / Meridian | Post-Closing | Pending | Oversees patent prosecution, maintenance, and enforcement in Territory.
39 | Post-Closing Obligations (for tracking reference) | PRC Foreign Exchange — Outbound remittance approvals for milestone and royalty payments to be obtained by Meridian Pharma (Shanghai) Co., Ltd. | Meridian Shanghai | Ongoing | Pending | Required for future milestone and royalty payments.
SUMMARY | Total Items: 39
Complete: 33
Pending: 6
N/A: 0
[sheet: Matter Information]
Field | Value
Matter | Out-License of PPC-4187 (Penteracitinib) — Penterra Pharmaceuticals Corp. to Meridian Bio Therapeutics Ltd.
Client | Penterra Pharmaceuticals Corp. (Nasdaq: PNTR)
Client Address | 400 Pharma Drive, Suite 800, Princeton, NJ 08540
Counterparty | Meridian Bio Therapeutics Limited (HK Company Reg. No. 2847631)
Counterparty Address | 18/F, Blossom Tower, 88 Queen's Road Central, Hong Kong SAR
Counsel for Licensor | Calderwood & Harkness LLP, 600 Lexington Avenue, 30th Floor, New York, NY 10022
Counsel for Licensee | Lam, Cheung & Firth LLP, 25/F, Jardine House, 1 Connaught Place, Central, Hong Kong SAR
Escrow Agent | Velthorn National Bank, N.A., 383 Madison Avenue, New York, NY 10179
Responsible Partner | Marcus Delgado
Billing Partner | Catherine Bloom
Lead Associate | Peter Vassiliev
Working Associate | Wendy Schultz
Tax Specialist | Sylvia Hartwell
Signing Date | October 2, 2023
Scheduled Closing Date | October 9, 2023
Actual Closing / Effective Date | October 20, 2023
Total Deal Value | $120,000,000 ($18M upfront + $32M development milestones + $25M regulatory milestones + $45M commercial milestones)
Upfront Payment | $18,000,000 (via escrow)
Governing Law | State of New York
Dispute Resolution | ICC International Court of Arbitration, New York, NY; panel of 3 arbitrators
Last Updated | October 20, 2023
Prepared By | Peter Vassiliev and Wendy Schultz, Calderwood & Harkness LLP

[sheet: Closing Checklist]

Record

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Dates

Amounts