Arbutus Biopharma Corporation and Qilu Pharmaceutical Co., Ltd. Announce Termination Agreement

Published: 2025-06-25 08:50:29 ET ABUS

Published on 06/25/2025 at 08:50

Arbutus Biopharma Corporation and Qilu Pharmaceutical Co. Ltd. announced that certain Technology Transfer and Exclusive License Agreement, by and among Arbutus and Qilu Pharmaceutical Co. Ltd. (Qilu) has entered into as of as of the 20 day of June, 2025 (the "Termination Agreement Effective Date"), by and among Arbutus Biopharma Corporation, a British Columbia corporation ("Arbutus"), having a place of business at 701 Veterans Circle, Warminster, PA 18974, USA, and Qilu Pharmaceutical Co.'u Pharmaceutical Co.

Ltd., a company established pursuant to applicable laws and regulations of the People's Republic of China ("Qilu"), having a place of business in their entirety, subject to the terms and conditions herein. The License Agreement and each of the agreements are hereby terminated as of the Termination Agreement Effective Date, except for the sections in such agreements that shall survive in accordance with the survival provisions thereof. For the avoidance of doubt, the Parties acknowledge and agree that Sections 12.3(a), 12.3(b), 12.5 and 12.6 of the License Agreement (and any other Sections referenced therein) govern the termination of the License Agreement.

Qilu agrees and agrees that (A) the license granted by Qilu to Arbutus under Section 11.1(c) of the License Agreement survive according to the terms of Section 12.3 thereof, and (B) Arbutus hereby requests, and Qilu hereby grants, the license set forth in Section 12.3(b)(ii) of the License Agreement pursuant to the terms therein. Other than as provided for or referenced in this Termination Agreement and/or Section 12.3 of the License Agreement, the Parties shall have no further obligation to perform any activities under the Termination Agreement, and Qilu shall cease any and all Exploitation activities relating to the Licensed Compound and the Licensed Product in the Territory immediately. Subject to Section 4.1(e) of the License Agreement and Section 2.3 below, within thirty (30) days from Termination Agreement Effective Date, each Party shall, at its own cost, destroy or delete all Confidential Information of the other Party received during the Term of the License Agreement, provided that each Party may retain the Confidential Information of the other party as described and pursuant to the requirements set forth in Section 8.3 of the License Agreement.