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ITEM 1.02 TERMINATION OF MATERIAL DEFINITIVE AGREEMENT.
On March 8, 2022, Lucira Health, Inc. (the “Company”) provided Notice of Termination (the “Notice”) of the Patent License Agreement (the “Agreement”), dated July 15, 2020, by and between the Company and Eiken Chemical Co., Ltd. (“Eiken”) to Eiken. Termination of the Agreement will be effective May 12, 2022 (the “Termination Date”).
Pursuant to the terms of the Agreement, Eiken granted the Company a non-transferable, non-assignable, sublicensable (solely to the Company’s affiliates), non-exclusive license under certain patents (the “Eiken Licensed Patents”), relating, in part, to loop-mediated isothermal amplification, to develop, make, use, sell, offer for sale and dispose of any reagent, product, kit, device, equipment and/or system for nucleic acid-based in-vitro diagnostic tests for detection of SARS-CoV-2, which causes COVID-19 in the United States. Under the Agreement, the Company also has limited have-made rights with respect to the Eiken Licensed Patents. The Company terminated the Agreement because certain Eiken Licensed Patents have expired, all of which are locations in which the Company operates.
Following termination of the Agreement, the Company will not be required to make any future payments under the Agreement. The Company will furnish to Eiken, within thirty (30) days after the Termination Date, a royalty report as set forth in Sections 4.02 and 4.06 of the Agreement.
This description of the Agreement is qualified in its entirety by reference to the redacted text of the Agreement for confidential treatment, a copy of which was filed as Exhibit 10.13 to the Company’s Registration Statement on Form S-1, originally filed with the Securities and Exchange Commission on January 15, 2021, as amended (File No. 333-252164).
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.
|Lucira Health, Inc.|
|Date: March 14, 2022||By:|
Chief Financial Officer