Amendment to Notice of Award – CIRM Disease Team Therapy Development Award (Capricor, Inc.)
This amendment, dated December 11, 2017, closes the research award from the California Institute for Regenerative Medicine (CIRM) to Capricor, Inc. for the development of allogeneic cardiac-derived stem cells. The award is closed as of November 30, 2017, following the project's completion and Capricor's formal abandonment of the project. CIRM forgives Capricor's loan balance, subject to possible reinstatement, and requires any unused funds to be returned. A final financial report is due by February 1, 2018.
Exhibit 10.1
AMENDMENT TO NOTICE OF AWARD – RFA 10-05A - CIRM Disease Team
Therapy Development Awards - Part II Research Award
California Institute for Regenerative Medicine
Amendment Number: 03
Amendment Date: 12/11/17
| Award Number: | DR2A-05735 | Total Award Amount: | $14,405,857 |
| Awardee Name: | Capricor, Inc | Project Period Start Date: Project Period End Date: | 01/01/2013 11/30//2017 |
Principal Investigator or Program Director:
| Rachel Ruckdeschel Smith
| ||
| Project Title: | Allogeneic Cardiac-Derived Stem Cells for Patients Following a Myocardial Infarction | ||
| Authorized Organization Official and Address: | Official and Address to Receive Payments: |
| AJ Bergmann VP of Finance 8840 Wilshire Blvd. 2nd Floor Beverly Hills, CA 90211 | AJ Bergmann VP of Finance 8840 Wilshire Blvd., 2nd Floor Beverly Hills, CA 90211 |
This award is closed, effective 11/30/2017, based on the completion of the final Operational Milestone (Operational Milestone #6 “File final Clinical Study Report”). CIRM recognizes that Capricor, Inc. has abandoned the CIRM-Funded Project as noted in the Notice of Abandonment letter from Capricor, Inc. to CIRM dated 11/17/2017. As such, pursuant to Section 4.10 of the Loan Agreement between CIRM and Capricor, Inc. and Article VII, Section I of the CIRM Loan Administration Policy, Capricor, Inc.’s Loan Balance is forgiven, subject to reinstatement pursuant to those provisions. No expenses may be incurred after 11/30/2017, and any unexpended funds shall be returned to CIRM. A Final Operational Milestone Financial Report is due by 02/01/2018.
/s/ Maria T. Millan, M.D.
Maria T. Millan, M.D.
President and CEO, CIRM
/s/ Rachel Ruckdeschel Smith
Rachel Ruckdeschel Smith
Principal Investigator, Capricor, Inc
/s/ AJ Bergmann
Awardee Authorized Signatory, Capricor, Inc
