UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) March 31, 2021
NASCENT BIOTECH, INC. |
(Exact name of registrant as specified in its charter) |
Nevada |
| 000-55299 |
| 46-5001940 |
(State or other jurisdiction |
| (Commission |
| (IRS Employer |
6330 Nancy Ridge Dr Suite 105, San Diego CA. |
| 92121 |
(Address of principal executive offices) |
| (Zip Code) |
Registrant’s telephone number, including area code (612) 961-5656
N/A |
(Former name or former address, if changed since last report.) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM 8.01 OTHER EVENTS
On March 31, 2021, the Company entered into a license agreement with BioRay Pharmaceutical Co Ltd granting a license for commercialization of the Company’s antibody Pritumumab internationally excluding North and Central America. Under terms of the agreement, the Company will receive US $5,000,000 at various milestones commencing with the initial payment received on April 20, 2021 of US $1,000,000. An additional payments of $750,000 will be received upon enrollment of the 12th patient in the phase 1 clinical trial which has enrolled its first cohort. Upon approval for phase 2 clinical trials from the United States Food and Drug Administration, the Company will receive $2,500,000. When the phase 2 trials begin the balance of $750,000 will be received.
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SIGNATURES
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.
NASCENT BIOTECH, INC. |
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/s/ Sean Carrick |
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Sean Carrick |
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President |
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Date: May 11, 2021 |
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