<PAGE> 1
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): March 2, 2000
Xechem International, Inc.
------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 0-23788 22-3284803
---------- ------- ----------
(State of incorporation) (Commission File No.) (IRS Employer
Identification No.)
100 Jersey Avenue, Bldg. B, #310
New Brunswick, N.J. 08901
(Address of principal executive offices)
Registrant's telephone number, including area code: (732) 247-3300
<PAGE> 2
ITEM 5. OTHER EVENTS.
On March 2, 2000, Xechem International, Inc. (the "Company") filed a
complaint in the United States District Court for the District of New Jersey
against the University of Texas M.D. Anderson Cancer Center and the Board of
Regents of the University of Texas, as defendants. This complaint is for
declaratory judgment against the defendants in connection with a certain Patent
and Technology License Agreement dated August 18, 1997 (the "License
Agreement"), which was the outgrowth of a Sponsored Laboratory Study Agreement
dated December 12, 1995. The License Agreement granted to Xechem certain
exclusive worldwide rights to use, license and sublicense patented technology
related to a new formulation for the delivery of paclitaxel. The M.D. Anderson
Cancer Center sent a letter to Xechem's counsel seeking to terminate the License
Agreement. This letter also contained a counterproposal to Xechem, which Xechem
rejected, and Xechem also rejected the claim that the License Agreement should
be terminated. The defendants delivered a termination letter to Xechem
purporting to terminate the License Agreement on the basis of the claim that
Xechem was "insolvent." This alleged insolvency was based upon 1998 financial
records. Xechem states in its complaint that it is currently solvent and denies
the claim that it was insolvent in 1998. Xechem has made all required payments
to the M.D. Anderson Cancer Center pursuant to the License Agreement and the
M.D. Anderson Cancer Center has cashed all such checks.
2
<PAGE> 3
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
XECHEM INTERNATIONAL, INC.
By: /s/ Dr. Ramesh C. Pandey
-------------------------------
Dr. Ramesh C. Pandey, President and
Chief
Dated: March 13, 2000
3
