On April 5, 2022 The Company reported that entered into a master development services agreement, effective March 31, 2022 (the "Samsung Agreement") with Samsung Biologics Co., Ltd. Pursuant to the Samsung Agreement and certain ancillary agreements, Samsung has agreed to manufacture the antibody AK006 for the Company, among other related services, as directed by the Company from time to time pursuant to ancillary agreements (Filing, 8-K, Allakos, APR 5, 2022, View Source [SID1234611487]). The Samsung Agreement has an initial term of five years, renewing automatically for successive terms of two years unless either party gives the other party six months’ written notice. Either party may terminate the Samsung Agreement under certain other specified conditions, including a material breach by or insolvency of the other party. The Samsung Agreement includes customary indemnification, intellectual property protection, remedies and confidentiality terms, as well as certain quality requirements.

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The foregoing summary of the Samsung Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Samsung Agreement, a copy of which the Company anticipates filing as an exhibit to the Companyʼs Quarterly Report on Form 10-Q for the quarter ending March 31, 2022, after redacting certain portions of the Samsung Agreement for confidentiality purposes.