SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
MAY 11, 1998
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Date of Report (Date of earliest event reported)
ATLANTIC PHARMACEUTICALS, INC.
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(Exact name of registrant as specified in charter)
DELAWARE 0-27282 36-3898269
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
1017 MAIN CAMPUS DRIVE, SUITE 3900, RALEIGH, NORTH CAROLINA 27606
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (919) 513-7020
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N/A
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(Former name or former address, if changed since last report.)
Item 5. Other Events.
On May 14, 1998, the Registrant's majority-owned subsidiary,
Optex Ophthalmologics, Inc. ("Optex"), entered into a worldwide licensing
agreement with Bausch & Lomb Surgical (comprised of Chiron Vision
Corporation and Storz Instrument Company), a division of Bausch & Lomb
Incorporated, to complete the development of Catarex-TM-, a cataract-removal
technology invented by Optex. Under the terms of the agreement, Bausch & Lomb
Surgical and Optex intend to jointly complete the final design and
development of the Catarex system. Bausch & Lomb Surgical will assume
responsibility for commercializing Catarex globally. Optex received up-front
payments and is to receive certain milestone payments from Bausch & Lomb
Surgical. In addition, Bausch & Lomb has committed to pay ongoing royalties
on sales of Catarex products.
On May 11, 1998, the Registrant adjourned its
regularly-scheduled annual meeting of shareholders, at which no shareholder
action was taken. The meeting is scheduled to re-convene on June 15, 1998.
Item 7. Exhibits.
A copy of the Development & License Agreement, dated May 14,
1998, by and between Optex Ophthalmologics, Inc. and Bausch & Lomb Surgical
(comprised of Chiron Vision Corporation and Storz Instrument Company), a
division of Bausch & Lomb Incorporated, is attached hereto as Exhibit 99.1
and incorporated herein by reference.
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.
(Registrant)
Date: May 22, 1998 By /s/ Shimshon Mizrachi
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Name: Shimshon Mizrachi
Title: Chief Financial Officer
INDEX TO EXHIBITS
Exhibit No. Description Page
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99.1 Development & License Agreement, dated May
14, 1998, by and between Optex
Ophthalmologics, Inc. and Bausch & Lomb
Surgical (comprised of Chiron Vision
Corporation and Storz Instrument Company), a
division of Bausch & Lomb Incorporated.