Benzinga | Jan 12, 2021 06:14AM EST

Plus Therapeutics On Jan. 8 Entered Into Agreement With Piramal Pharma Solutions; Piramal To Perform Some Services Related To Development, Manufacture, Supply Of Co's RNL-Liposome Intermediate Drug Product, Agreement Has A Term Of Five Years

On January 8, 2021, Plus Therapeutics, Inc. (the "Company") entered into a Master Services Agreement (the "Agreement") with Piramal Pharma Solutions, Inc. ("Piramal"), for Piramal to perform certain services related to the development, manufacture, and supply of the Company's RNL-Liposome Intermediate Drug Product. The Agreement includes the transfer of analytical methods, development of microbiological methods, process transfer and optimization, intermediate drug product manufacturing, and stability studies for the Company. The transfer will be performed at Piramal's facility located in Lexington, Kentucky. The parties contemplate that the Agreement will lead to clinical and commercial supply agreements between the Company and Piramal.

The Agreement has a term of five years and will automatically renew for successive one-year terms unless either party notifies the other no later than six months prior to the original term or any additional terms of its intention to not renew the Agreement. The Company has the right to terminate the Agreement for convenience upon thirty days' prior written notice. Either party may terminate the Agreement upon an uncured material breach by the other party or upon the bankruptcy or insolvency of the other party.

The foregoing description of the Agreement is not intended to be complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which the Company intends to file as an exhibit to the Company's Annual Report on Form 10-K for the year ended December 31, 2020, with confidential portions redacted.