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Genenta Science S.P.A. Reports Key Development: Second Amendment with AGC Biologics

$GNTA
Form 6-K
Filed on: 2024-12-30
Source
Genenta Science S.P.A. Reports Key Development: Second Amendment with AGC Biologics

Here are the key insights extracted from the provided section of the financial report (Form 6-K) for Genenta Science S.P.A.:

  1. Type and Submission Details:
  • This document is a Form 6-K, which is a report of a foreign private issuer filed with the SEC.
  • The filing date is December 30, 2024, and it is effective for the month of December 2024.
  1. Company Information:
  • Name: Genenta Science S.P.A.
  • Address: Via Olgettina No. 58, 20132 Milan, Italy.
  • Commission File Number: 001-41115.
  1. Key Event:
  • The company has entered into a Second Amendment to its Development and Master Services Agreement with AGC Biologics S.P.A., effective December 24, 2024. This agreement pertains to the manufacturing of lentiviral vectors and drug products for clinical programs in Italy.
  1. Operational Changes:
  • The Second Amendment specifies that AGC will reserve an exclusive GMP suite for the company and will allocate a specified number of full-time equivalent employees for this purpose.
  • AGC commits to making the GMP suite available for a specified number of weeks per year, starting in the first quarter of 2025. If this commitment is not met, AGC will issue credit notes to Genenta for the lost activity.
  1. Financial Terms:
  • The agreement includes provisions for monthly fees during a ramp-up phase (beginning in the first quarter of 2025 and expected to end in the third quarter of 2025) and annual fees payable quarterly thereafter.
  1. Exhibits:
  • The Second Amendment is included as Exhibit 10.1 of the filing, which provides further details on the agreement.

This report indicates a significant development in Genenta Science's operational capabilities and their commitment to ongoing clinical programs, which may influence their future performance and financial projections.