Pharmacyclics, Inc.
Exhibit 10.32
LES LABORATOIRES SERVIER
Pharmacyclics, Inc.
000 X. Xxxxxx Xxxxxx
Xxxxxxxxx, Xxxxxxxxxx
Xxxxxx Xxxxxx of America
Attention: Vice President of Business Development,
Cc: Chief Financial Officer
September 24, 2014
Termination of Collaboration Agreement dated April 9, 2009 between Les Laboratoires Servier and Institut de Recherches Internationales Servier (“Servier”) and Pharmacyclics, Inc. (“Pharmacyclics”), as amended in January 5, 2012 and August 27, 2013 (the “Agreement”)
Dear Sirs,
Following our telephone conference held on September 8th, 2014, Servier hereby confirms and gives Pharmacyclics notice that Servier has elected to terminate the Agreement pursuant to Section 11.5 of the Agreement.
Pursuant to such Section 11.5 of the Agreement, such termination shall be effective on November 23rd, 2014. The Drug Supply Agreement dated December 18, 2009 and Safety Data Exchange Agreement dated May 27, 2010, both associated to this Agreement, will terminate on the same date.
With regard to the first paragraph of Section 11.6.1 of the Agreement, please advise as soon as possible whether you would like the on-going clinical trials to be transitioned to Pharmacyclics following termination or whether you would like Servier to continue such clinical trials for an additional period, at Pharmacyclics costs and expense, prior to transition to Pharmacyclics at a date to be determined between the Parties. We are awaiting Pharmacyclics’ decision on the above in order to communicate with investigators and Governmental Authorities.
Please be assured that Servier’s teams are committed to carry out, the steps necessary to ensure an orderly transition to Pharmacyclics of Servier’s activities under the Agreement, in accordance with Section 11.6.1 and of the patents pertaining to the Licensed Product in accordance with Section 7.4.4 of the Agreement.
Please also note that Servier is available to discuss promptly supply of the Licensed Product for on-going or upcoming clinical trials as well as technology transfer related to manufacture, at terms and conditions to be agreed upon by the Parties.
LES LABORATORIES SERIVIER | INSTITUT DE RECHERCHES INTERNATIONALES SERVIER | |||
By: | /s/ Xxxxxx Xxxxxxx | By: | /s/ Xxxx-Xxxxxx Abastado | |
Name: | Xxxxxx XXXXXXX | Name: | Xxxx-Xxxxxx ABASTADO | |
Title: | Proxy | Title: | Director of Oncology Innovation Therapeutic Pole | |
By: | /s/ Xxxxxxx Xxxxxxxx |
Name: | Xxxxxxx XXXXXXXX |
Title: | Vice President, Director of Research & Development Operations |
Cc. Legal Department - Les Laboratoires Servier – 00 xxx Xxxxxx 00000 Xxxxxxxx Xxxxx Xxxxxx
Merci d’adresser toute correspondence au :
Siège social : 00, xxx Xxxxxx x 00000 Xxxxxxxx cedex l Tèl.: 00.00.00.00.00
S.A.S au capital de 34.590.852 euros l 085 480 796 RCS Nanterre
