|Re: The Russian convertible note holders would like to see them default, they hav...|
I found a little more readable for the less informed
“This financing will enable us to continue the near-term clinical development of Rocapuldencel-T for the treatment of metastatic renal cell carcinoma (mRCC), including the pivotal ADAPT Phase 3 trial, and of AGS-004 for the treatment of HIV as we evaluate potential additional financing opportunities.”
| Reply to tokyopua - Msg #2684218 - 07/26/2017 14:43|
The Russian convertible note holders would like to see them default, they have a lien on all the intellectual property of the company based on this document:
"For value received, Argos Therapeutics, Inc., a Delaware corporation with an address at 4233 Technology Drive, Durham, NC 27704 (the “Company”) promises to pay to Pharmstandard International S.A., a Russian company with an address at 10A rue Henri Schnadt, Luxembourg, Luxembourg L-2530 (the “Holder”) the principal sum of Six Million Dollars ($6,000,000.00), together with interest on the outstanding principal amount at the rate of nine and one-half percent (9.5%) per annum. Interest shall commence on the Issue Date and shall continue and accrue daily at the applicable rate on the outstanding principal amount until paid in full or converted in accordance with this note (the “Note”). Interest shall compound annually on each anniversary of the Issue Date. Interest shall be computed on the basis of a year of 365 days for the actual number of days elapsed. Accrued and unpaid interest shall be paid by the Company to the Holder in cash on the Maturity Date.
This Note is secured by a lien on and security interest in all of the Intellectual Property Collateral of the Company, as defined in the Security Agreement of even date herewith by and between the Company and the Holder (as the same may be amended from time to time in accordance therewith, the “Security Agreement”)."
Re: $10m cap for an HIV AIDS possible cure and big league cancer drug still f...