Exhibit 2.3
ASSIGNMENT AND ASSUMPTION AGREEMENT
THIS ASSIGNMENT AND ASSUMPTION AGREEMENT (this “Assumption Agreement”), dated as of February 2, 2014 is by and among Galmed International Limited, a company incorporated under the laws of Malta (the “Assignor”) and Galmed Research and Development Ltd., a company incorporated under the laws of the state of Israel (the “Assignee”).
WHEREAS, the Assignor is part of a world-wide group of companies which engage in the research, development and commercialization of a novel therapy for the treatment of a certain liver disease, and is also known as the Galmed Group (the “Group”); and
WHEREAS, the Assignor wishes to transfer and assign to the Assignee all of its intellectual property as part of a broader restructuring of the operations of the Group; (the “Restructure”); and
WHEREAS, pursuant to the tax ruling received by the Group from the Israeli Tax Authority (the “ITA Ruling”), the abovementioned and Restructure shall be exempt from tax in Israel, subject to the terms and conditions of the ITA Ruling; and
WHEREAS, the Assignee was incorporated on October 27, 2013 for purposes of receiving and assuming the Assigned Assets (as defined below) Assignor; and
NOW, THEREFORE, in consideration of the foregoing premises and for no other consideration, whether directly or indirectly, the receipt and sufficiency of which is hereby acknowledged:
1. Assignment and Assumption of Assets. The Assignor hereby assigns transfers and conveys to the Assignee and the Assignee assumes and agrees to honor, perform and discharge promptly when due, the Assumed Assets, as specified inSchedule A hereto.
2. Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State of Israel without reference to any principles of conflicts of law.
3. Third-Party Beneficiaries; Successors; Assigns. Nothing in this Assumption Agreement, express or implied, is intended or shall be construed to create any third-party beneficiaries. This Assumption Agreement shall be binding upon and inure solely for the benefit of the parties and their respective successors and permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other person any rights, interests, benefits or remedies of any nature whatsoever under or by reason of this Assumption Agreement.
4. Counterparts; Headings. This Assumption Agreement may be executed in multiple counterparts, each of which when so executed shall be an original, but all of which together shall constitute one agreement. Facsimile and Email signatures shall be deemed original signatures. The headings of articles and sections hereof were inserted solely for convenience of reference and shall not affect the interpretation hereof.
IN WITNESS WHEREOF, the parties have caused this Assumption Agreement to be duly executed as of the date first above written.
| | Galmed International Limited | Galmed Research and Development Ltd. |
| | | |
| By: | /s/ Allen Baharaff | | By: | /s/ Allen Baharaff |
| Name: | Allen Baharaff | | Name: | Galmed Pharmaceuticals Ltd. (by Allen Baharaff) |
| Title: | Director | | Title: | Director |
SCHEDULE A
Assigned Assets
CONFIDENTIAL
Patent Family Report
| File No. : | GILAT/002 | Priority :US Prov. | 02/Feb/2009 |
Title : METHODS AND COMPOSITIONS FOR TREATING ALZHEIMER'S DISEASE
| Abstract : | The present invention relates to methods for treatment, prevention, and inhibition of progression of Alzheimer's disease, Cerebral Amyloid Angiopathy (CAA), and other brain diseases characterized by amyloid plaque deposits, comprising the administration to a subject of a bile acid or bile salt fatty acid conjugate (FABAC). |
| Country | | Application
No. | | Filing Date | | Patent No.\
Pub. No. | | Issue Date\
Pub. Date | | Status |
| | | | | | | | | | | |
| Europe | | 10706394.3 | | 01/Feb/2010 | | 2391370 | | 07/Dec/2011 | | examination |
| Israel | | 214340 | | 01/Feb/2010 | | 214340 | | 31/Jan/2013 | | examination |
| PCT | | PCT/IL2010/000088 | | 01/Feb/2010 | | WO2010/086864 | | 05/Aug/2010 | | expired |
| US Prov. | | 61/024911 | | 31/Jan/2008 | | | | | | expired |
| US Prov.-l | | 61/149100 | | 02/Feb/2009 | | | | | | expired |
| USA | | 13/147071 | | 01/Feb/2010 | | US2012/0157419 | | 21/Jun/2012 | | filed |
19/12/2013
CONFIDENTIAL
Patent Family Report
| File No.: | GILAT/003 | Priority : Israel | 08/Apr/1998 |
| Title : | FATTY ACID DERIVATIVES OF BILE ACIDS AND BILE ACID DERIVATIVES |
| Abstract: | The present invention relates to bile acid or bile salt fatty acid conjugates (hereinafter called 'BAFAC'), to their use in dissolving cholesterol gallstones in bile, preventing their occurrence or recurrence, to their use in reducing or preventing arteriosclerosis and to methods for the treatment of said diseases. The conjugates are of the formula W - X - G in which G is a bile acid or bile salt radical, W stands for one or two saturated fatty acid radicals and X is either a direct bond or a bonding member between said bile acid or bile salt and the fatty acid(s). The conjugation is advantageously performed at a position selected among the 3, 6, 7, 12 and 24 positions of the bile acid or bile salt nucleus. The fatty acids are preferably saturated fatty acids having (14 - 22) carbon atoms. |
| Country | | Application
No. | | Filing Date | | Patent No.\
Pub. No. | | Issue Date\
Pub. Date | | Status |
| | | | | | | | | | | |
| Australia | | 30515/99 | | 25/Mar/1999 | | 742944 | | 02/May/2002 | | granted |
| Austria | | | | 25/Mar/1999 | | 1071702 | | | | granted |
| Belgium | | | | 25/Mar/1999 | | 1071702 | | | | granted |
| Brazil | | PI9909908-0 | | 25/Mar/1999 | | | | | | examination |
| Canada | | 2325933 | | 25/Mar/1999 | | 2325933 | | 10/Jun/2008 | | granted |
| China | | 99804903.4 | | 25/Mar/1999 | | ZL99804903.4 | | 07/May/2008 | | granted |
| Cyprus | | | | 25/Mar/1999 | | 1071702 | | | | granted |
| Czech Republic | | PV2000-3625 | | 25/Mar/1999 | | 300824 | | 08/Jul/2009 | | granted |
| Denmark | | | | 25/Mar/1999 | | 1071702 | | | | granted |
| EURASIA | | 200000888 | | 25/Mar/1999 | | 003392 | | 24/Apr/2003 | | granted |
| Europe | | 99912026.4 | | 25/Mar/1999 | | 1071702 | | 28/Aug/2002 | | granted |
| Finland | | | | 25/Mar/1999 | | 1071702 | | | | granted |
| France | | | | 25/Mar/1999 | | 1071702 | | | | granted |
| Germany | | | | 25/Mar/1999 | | 1071702 | | | | granted |
| Greece | | | | 25/Mar/1999 | | 1071702 | | | | granted |
| Hungary | | P0101653 | | 25/Mar/1999 | | | | | | allowance |
| Indonesia | | W-20001998 | | 25/Mar/1999 | | ID0014395 | | 08/0ct/2004 | | granted |
| Ireland | | | | 25/Mar/1999 | | 1071702 | | | | granted |
| Israel | | 123998 | | 08/Apr/1998 | | 123998 | | 30/Dec/2004 | | granted |
| Italy | | | | 25/Mar/1999 | | 1071702 | | | | granted |
| Japan | | 2000-543488 | | 25/Mar/1999 | | 5031942 | | 06/Jul/2012 | | granted |
| Korea | | 10-2000-7010903 | | 25/Mar/1999 | | 615560 | | 17/Aug/2006 | | granted |
| Latvia | | | | 25/Mar/1999 | | 1071702 | | | | granted |
| Lithuania | | | | 25/Mar/1999 | | 1071702 | | | | granted |
| Luxembourg | | | | 25/Mar/1999 | | 1071702 | | | | granted |
| Mexico | | PA/a/2000/009863 | | 25/Mar/1999 | | 225070 | | 16/Dec/2004 | | granted |
| Monaco | | | | 25/Mar/1999 | | 1071702 | | | | granted |
| Netherlands | | | | 25/Mar/1999 | | 1071702 | | | | granted |
| New Zealand | | 507309 | | 25/Mar/1999 | | 507309 | | 06/0ct/2003 | | granted |
| Norway | | 20004998 | | 25/Mar/1999 | | 316875 | | 07/Jun/2004 | | granted |
| Poland | | P-343360 | | 25/Mar/1999 | | 199271 | | 08/Feb/2008 | | granted |
| Portugal | | | | 25/Mar/1999 | | 1071702 | | | | granted |
| Romania | | | | 25/Mar/1999 | | 1071702 | | | | granted |
| Slovenia | | | | 25/Mar/1999 | | 1071702 | | | | granted |
| Spain | | | | 25/Mar/1999 | | 1071702 | | | | granted |
| Sweden | | | | 25/Mar/1999 | | 1071702 | | | | granted |
| Switzerland | | | | 25/Mar/1999 | | 1071702 | | | | granted |
| Turkey | | 84564 | | 25/Mar/1999 | | TR 2000 02876 | | 09/Dec/2003 | | granted |
| UK | | | | 25/Mar/1999 | | 1071702 | | | | granted |
| Ukraine | | 20000095546 | | 25/Mar/1999 | | 70318 | | 15/0ct/2004 | | granted |
| USA | | 09/693928 | | 25/Mar/1999 | | 6384024 | | 07/May/2002 | | granted |
| USA-1 | | 09/675656 | | 25/Mar/1999 | | 6395722 | | 28/May/2002 | | granted |
| USA-2 | | 10/078671 | | 25/Mar/1999 | | 6589946 | | 08/Jul/2003 | | granted |
19/12/2013
CONFIDENTIAL
Patent Family Report
| File No.: | GILAT/004 | Priority: Israel | 17/Apr/2001 |
| Title : | USE OF BILE ACID OR BILE SALT FATTY ACID CONJUGATES |
| Abstract: | The present invention relates to the use of a bile acid or bile salt fatty acid conjugate of general formula II W - X - G in which G is a bile acid or bile salt radical, which, if desired, is conjugated in position 24 with a suitable amino acid, W stands for one or two fatty acid radicals having 14-22 carbon atoms and X stands for a suitable bonding member or for a direct C=C bond between said bile acid or bile salt radical and the fatty acid(s) or of a pharmaceutical composition comprising same for the reduction of Cholesterol in blood, for the treatment of Fatty Liver, Hyperglycemia and Diabetes. |
| Country | | Application
No. | | Filing Date | | Patent No.\
Pub. No. | | Issue Date\
Pub. Date | | Status |
| | | | | | | | | | | |
| Australia | | 2002307771 | | 15/Apr/2002 | | 2002307771 | | 16/Feb/2007 | | granted |
| Australia-1 Div | | 2007200191 | | 15/Apr/2002 | | 2007200191 | | 18/Dec/2008 | | granted |
| Austria | | 02761957.6 | | 15/Apr/2002 | | E365044 | | 20/Jun/2007 | | granted |
| Belgium | | 02761957.6 | | 15/Apr/2002 | | 1379254 | | 20/Jun/2007 | | granted |
| Belgium-1 Div | | 07002485.6 | | 15/Apr/2002 | | 1790346 | | 03/Jun/2009 | | validation |
| Canada | | 2444266 | | 15/Apr/2002 | | 2444266 | | 27/Jul/2010 | | granted |
| Canada-1 Div | | 2703688 | | 15/Apr/2002 | | 2703688 | | 31/Jul/2012 | | granted |
| China | | 02808187.0 | | 15/Apr/2002 | | ZL02808187.0 | | 21/Jun/2006 | | granted |
| Cyprus | | 02761957.6 | | 15/Apr/2002 | | 1379254 | | 20/Jun/2007 | | granted |
| Czech Republic | | PV 2003-2710 | | 15/Apr/2002 | | 300489 | | 22/Apr/2009 | | granted |
| Czech Republic-1 Div | | PV 2008-296 | | 15/Apr/2002 | | | | | | filed |
| Denmark | | 02761957.6 | | 15/Apr/2002 | | 1379254 | | 20/Jun/2007 | | granted |
| Denmark-1 Div | | 07002485.6 | | 15/Apr/2002 | | 1790346 | | 03/Jun/2009 | | validation |
| EURASIA | | 200301017 | | 15/Apr/2002 | | 007565 | | 29/Dec/2006 | | granted |
| Europe | | 02761957.6 | | 15/Apr/2002 | | 1379254 | | 20/Jun/2007 | | granted |
| Europe-1 Div | | 07002485.6 | | 15/Apr/2002 | | 1790346 | | 03/Jun/2009 | | granted |
| Finland | | 02761957.6 | | 15/Apr/2002 | | 1379254 | | 20/Jun/2007 | | granted |
| Finland-1 Div | | 07002485.6 | | 15/Apr/2002 | | 1790346 | | 03/Jun/2009 | | validation |
| France | | 02761957.6 | | 15/Apr/2002 | | 1379254 | | 20/Jun/2007 | | granted |
| France-1 Div | | 07002485.6 | | 15/Apr/2002 | | 1790346 | | 03/Jun/2009 | | validation |
| Germany | | 02761957.6 | | 15/Apr/2002 | | 60220775-4 | | 20/Jun/2007 | | granted |
| Germany-1 Div | | 07002485.6 | | 15/Apr/2002 | | 1790346 | | 03/Jun/2009 | | validation |
| Greece | | 02761957.6 | | 15/Apr/2002 | | 1379254 | | 20/Jun/2007 | | granted |
| Greece-1 Div | | 07002485.6 | | 15/Apr/2002 | | 1790346 | | 03/Jun/2009 | | validation |
| Hungary | | P04 00801 | | 15/Apr/2002 | | | | | | filed |
| Indonesia | | W-00 2003 02033 | | 15/Apr/2002 | | ID0020054 | | 06/Nov/2007 | | granted |
| Indonesia-1 Div | | W-00 2007 000430 | | 15/Apr/2002 | | ID P 0023712 | | 30/Jun/2009 | | granted |
| Ireland | | 02761957.6 | | 15/Apr/2002 | | 1379254 | | 20/Jun/2007 | | granted |
| Ireland-1 Div | | 07002485.6 | | 15/Apr/2002 | | 1790346 | | 03/Jun/2009 | | validation |
| Israel | | 142650 | | 17/Apr/2001 | | 142650 | | 04/Sep/2007 | | granted |
| Italy | | 02761957.6 | | 15/Apr/2002 | | 1379254 | | 20/Jun/2007 | | granted |
| Italy-1 Div | | 07002485.6 | | 15/Apr/2002 | | 1790346 | | 03/Jun/2009 | | validation |
| Japan | | 2002-580951 | | 15/Apr/2002 | | 4324706 | | 19/Jun/2009 | | granted |
19/12/2013
CONFIDENTIAL
Patent Family Report
| Korea | | 10-2003-7013339 | | 15/Apr/2002 | | 0883080 | | 04/Feb/2009 | | granted |
| Luxembourg | | 02761957.6 | | 15/Apr/2002 | | 1379254 | | 20/Jun/2007 | | granted |
| Mexico | | PA/a/2003/009553 | | 15/Apr/2002 | | 246214 | | 06/Jun/2007 | | granted |
| Mexico-1 Div | | MX/a/2007/003451 | | 15/Apr/2002 | | 277418 | | 20/Jul/2010 | | granted |
| Monaco | | 02761957.6 | | 15/Apr/2002 | | 1379254 | | 20/Jun/2007 | | granted |
| Netherlands | | 02761957.6 | | 15/Apr/2002 | | 1379254 | | 20/Jun/2007 | | granted |
| Netherlands-1 Div | | 07002485.6 | | 15/Apr/2002 | | 1790346 | | 03/Jun/2009 | | validation |
| New Zealand | | 528868 | | 15/Apr/2002 | | 528868 | | 12/Jan/2006 | | granted |
| Norway | | 20034609 | | 15/Apr/2002 | | 333910 | | 14/0ct/2013 | | granted |
| Norway-1 | | 20131219 | | 15/Apr/2002 | | | | | | filed |
| Poland | | P-366585 | | 15/Apr/2002 | | 205057 | | 07/Sep/2010 | | granted |
| Poland-1 div | | P-387458 | | 27/Feb/2009 | | 211438 | | 03/Nov/2011 | | granted |
| Portugal | | 02761957.6 | | 15/Apr/2002 | | 1379254 | | 20/Jun/2007 | | granted |
| Portugal-1 Div | | 07002485.6 | | 15/Apr/2002 | | 1790346 | | 03/Jun/2009 | | validation |
| Spain | | 02761957.6 | | 15/Apr/2002 | | 1379254 | | 20/Jun/2007 | | granted |
| Spain-1 Div | | 07002485.6 | | 15/Apr/2002 | | 1790346 | | 03/Jun/2009 | | validation |
| Sweden | | 02761957.6 | | 15/Apr/2002 | | 02761957-6 | | 20/Jun/2007 | | granted |
| Sweden-1 Div | | 07002485.6 | | 15/Apr/2002 | | 1790346 | | 03/Jun/2009 | | validation |
| Switzerland | | 02761957.6 | | 15/Apr/2002 | | 1379254 | | 20/Jun/2007 | | granted |
| Switzerland-1 Div | | 07002485.6 | | 15/Apr/2002 | | 1790346 | | 03/Jun/2009 | | validation |
| Turkey | | 02761957.6 | | 15/Apr/2002 | | 1379254 | | 20/Jun/2007 | | granted |
| Turkey-1 Div | | 07002485.6 | | 15/Apr/2002 | | 1790346 | | 03/Jun/2009 | | validation |
| UK | | 02761957.6 | | 15/Apr/2002 | | 1379254 | | 20/Jun/2007 | | granted |
| UK-1 Div | | 07002485.6 | | 15/Apr/2002 | | 1790346 | | 03/Jun/2009 | | validation |
| Ukraine | | 2003-109404 | | 15/Apr/2002 | | 78699 | | 23/Apr/2007 | | granted |
| USA | | 10/474032 | | 15/Apr/2002 | | 7501403 | | 10/Mar/2009 | | granted |
| USA-1 | | 12/361291 | | 28/Jan/2009 | | 8110564 | | 07/Feb/2012 | | granted |
| USA-2 | | 13/366796 | | 06/Feb/2012 | | US2012/0214872 | | 23/Aug/2012 | | filed |
19/12/2013
CONFIDENTIAL
Patent Family Report
| Country | | Application
No. | | Filing Date | | Patent No.\
Pub. No. | | Issue Date\
Pub. Date | | Status |
| | | | | | | | | | | |
| US Prov. | | 61/911477 | | 04/Dec/2013 | | | | | | filed |
19/12/2013
CONFIDENTIAL
Patent Family Report
| Country | | Application
No. | | Filing Date | | Patent No.\
Pub. No. | | Issue Date\
Pub. Date | | Status |
| | | | | | | | | | | |
| US Prov. | | 61/911478 | | 04/Dec/2013 | | | | | | filed |
19/12/2013
