On October 8, 2022, Brooklyn ImmunoTherapeutics, Inc., a Delaware corporation (the "Company"), reported that entered into an option agreement (the "Option Agreement") with Exacis Biotherapeutics, Inc., a Delaware corporation ("Exacis"), pursuant to which Exacis granted the Company the option to negotiate and enter into an exclusive worldwide license to certain of the technology licensed by Exacis for the treatment of cancer in humans (the "Option") (Filing, 8-K, Brooklyn ImmunoTherapeutics, OCT 8, 2022, View Source [SID1234622041]). The Option Agreement provides that the Company will pay Exacis a fee of $250,000 for the Option, which would be creditable against the fees or purchase price payable under any such license if entered into by the Company in accordance with Option Agreement. The Option Agreement provides for certain payments upon the execution of a definitive license agreement, which would become payable only upon execution, and in accordance with the terms, of the applicable license agreement, if any.

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