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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 11, 2000
HOLLIS-EDEN PHARMACEUTICALS, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
000-24672 13-3697002
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(Commission File No.) (IRS Employer Identification No.)
9333 Genesee Avenue, Suite 200
San Diego, California 92121
(Address of principal executive offices and zip code)
Registrant's telephone number, including area code: (858) 587-9333
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Item 5. Other Events.
On October 11, 2000, the Company acquired a 21% equity stake in Aeson
Therapeutics, Inc., an Arizona-based company which is developing molecules that
are analogs with similar biological properties to HE2000, the company's lead
compound in development. The Company exchanged $2 million in cash and 208,681
shares of Hollis-Eden Common Stock for its equity interest in Aeson. In
addition, the Company also obtained an exclusive worldwide sublicense to three
issued patents in the area of adrenal steroids (not including fluasterone) from
Aeson. As part of the transaction, Aeson and its shareholders have granted the
Company an exclusive option to acquire the remainder of Aeson at a pre-
determined price at any time during the next 30 months. Regardless of whether
the Company elects to exercise this option, however, the Company will retain its
exclusive sublicense to the three patents.
Aeson's lead compound, fluasterone, is in Phase II clinical studies for
cardiovascular disease and actinic keratosis, a precursor to squamous cell
cancer, as well as in preclinical studies in other indications. The cash portion
of the Company's investment will be used by Aeson to fund specific studies with
fluasterone as well as other compounds in its pipeline.
Over the past twelve months, the Company has undertaken as aggressive program to
expand its intellectual property position in this area. As a result, with the
three patents sublicensed as part of this transaction, the Company now owns or
has a license to approximately 30 issued U.S. patents, 37 issued foreign
patents, 30 pending U.S. patent applications and more than 80 pending foreign
patent applications. In addition, based on the preclinical and clinical data
being generated with this class of compounds, a number of U.S. and foreign
patent applications are in the process of being filed. If the Company elects to
exercise its option to purchase the balance of Aeson, it will add additional
U.S. and foreign issued patents and patent applications to this portfolio,
including those relating to fluasterone.
1.
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Item 7. Exhibits.
99.1 Press Release dated October 12, 2000.
2.
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SIGNATURE
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, thereunto duly authorized.
Hollis-Eden Pharmaceuticals, Inc.
Dated: October 20, 2000 By: /s/ Eric J. Loumeau
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Eric J. Loumeau
Vice President, Corporate General Counsel
3.
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INDEX TO EXHIBITS
99.1 Press Release dated October 12, 2000.
1.
