AMENDMENT #7 TO LICENSE, DEVELOPMENT AND COMMERCIALIZATION AGREEMENT
Exhibit 99.2
AMENDMENT #7
TO LICENSE, DEVELOPMENT AND COMMERCIALIZATION AGREEMENT
This AMENDMENT #7 (this "Amendment") TO LICENSE, DEVELOPMENT AND COMMERCIALIZATION AGREEMENT (the "Agreement") dated June 28, 2019 between Acura Pharmaceuticals, Inc. ("Acura"), a New York corporation, having a place of business at 000 X. Xxxxx Xxxxx, Xxxxx 000, Xxxxxxxx, XX 00000, and Abuse Deterrent Pharma, LLC ("AD Pharma"), a Kentucky limited liability company, having a place of business at 000 X. Xxxx Xxxxxx, Xxxxx 000, Xxxxxxxxxx, Xxxxxxxx 00000, is made as of November 13, 2023.
RECITALS
WHEREAS, Acura and AD Pharma entered into that certain Amendment to the Agreement on October 16, 2020 ("Amendment #1");
WHEREAS, Acura and AD Pharma entered into that certain Amendment #2 to the Agreement on June 17, 2021 ("Amendment #2"); and
WHEREAS, Acura and AD Pharma entered into that certain Amendment #3 to the Agreement on February 28, 2022 ("Amendment #3") and
WHEREAS, Acura and AD Pharma entered into that certain Amendment #4 to the Agreement on November 10, 2022 ("Amendment #4" and
WHEREAS, Acura and AD Pharma entered into that certain Amendment #5 to the Agreement on December 8, 2022 ("Amendment #5" and
WHEREAS, Acura and AD Pharma entered into that certain Amendment #6 to the Agreement on June 15, 2023 ("Amendment #6" and together with Amendment #1, Amendment #2, Amendment #3, Amendment #4 and Amendment #5 constitute the "Prior Amendments"); and
WHEREAS, the Parties desire to amend the Agreement to provide for an extension to the LIMITx™ Regulatory Submission Timeline.
NOW THEREFORE, in consideration of the mutual covenants and promises contained in the Agreement, as amended, and this Amendment and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Acura and AD Pharma agree as follows:
ARTICLE 1
AMENDMENTS TO AGREEMENT
1.1 Item 3 of Schedule 1 "LIMITx™ Regulatory Application Submission Timeline" is hereby amended and replaced in its entirety as follows:
3. By March 31, 2024, Acura must gain filing acceptance by the FDA of a Regulatory Approval Application for the Product.
ARTICLE 2
MISCELLANEOUS
2.1 Governing Law. This Amendment shall be governed by the laws of the State of New York without regard to its conflict of laws rules or principles.
2.2 Amendments. Except as expressly amended by this Amendment #7 and the "Prior Amendments", the Agreement shall remain unmodified and in full force and effect.
2.3 Entire Agreement. The Agreement (including the Schedules attached thereto), as amended by the "Prior Amendments" and this Amendment, constitutes the entire agreement of the Parties with respect to the subject matter hereof and supersede all prior understandings and writings between the Parties relating thereto.
2.4 Interpretation. Any capitalized terms used in this Amendment and not otherwise defined herein shall have the meaning provided in the Agreement.
2.5 Counterparts. This Amendment may be executed manually or electronically by the Parties, in any number of counterparts, each of which shall be considered one and the same amendment and shall become effective when a counterpart hereof shall have been signed by each of the Parties and delivered to the other Party.
IN WITNESS WHEREOF, the Parties hereto have caused this Amendment to be executed in their names by their properly and duly authorized officers or representatives as of the date first written above.
By: /s/ Xxxxx X. Xxxxxxx
Name: Xxxxx X. Xxxxxxx
Title: CFO and Vice President
ABUSE DETERRENT PHARMA, LLC
By: /s/ Xxxx Xxxxxxx
Name: Xxxx Xxxxxxx
Title: Managing Partner
