SECURITIES AND EXCHANGE COMMISSION
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|Item 1.01|| |
Entry Into a Material Definitive Agreement
On April 29, 2021, Synlogic Operating Company, Inc. (“Synlogic OpCo”), a wholly-owned subsidiary of Synlogic, Inc. (the “Company”), entered into a Statement of Work (the “SOW”) with Azzur Cleanrooms-On-Demand – Boston, LLC, (“Azzur”) pursuant to a License and Services Agreement (the “License Agreement”), effective as of April 28, 2021, by and between Synlogic OpCo and Azzur.
Pursuant to the SOW, Azzur has agreed to grant a license to Synlogic OpCo for access to, and the use of, a cleanroom space in Waltham, Massachusetts (the “Azzur Suite”), for a period of 20 months, from May 2021 to December 2022 (the “Term”). Azzur has also agreed to provide Synlogic OpCo with storage space and personnel support at the Azzur Suite. The total estimated project cost during the Term for access to, and use of, the cleanroom and storage space, and the personnel support and other services, is $2.3 million. The SOW replaces a prior Statement of Work entered into by and between Azzur and Synlogic OpCo for the duration of the Term.
The Company may terminate the License Agreement (including the SOW) on three months’ prior written notice at any time during the Term. In addition, either party may terminate the License Agreement (including the SOW) due to a breach by the other party and failure to cure, or in the event of bankruptcy, insolvency, reorganization or other similar act or law.
The summary of the SOW and the License Agreement is qualified in its entirety by reference to the full text of the SOW and the License Agreement, copies of which will be attached as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ending June 30, 2021.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|Date: May 5, 2021||Synlogic, Inc.|
|Title:||Interim Chief Financial Officer|