EX-10.29 35 d427310dex1029.htm EX-10.29 EX-10.29

Exhibit 10.29

 

FFG        

Project no. 841918/30000 SCK/SAI

 

Funding Contract

executed between the

Österreichische Forschungsförderungsgesellschaft mbH (FFG)

as Funding Agency

and

ARSANIS Biosciences GmbH

Helmut-Qualtinger-Gasse 2

1030 Vienna

Company Register No. 354305m

as Funding Recipient

§ 1 Funding grant

 

1.1 On the basis of the funding application “Development of human monoclonal antibody-based products against severe hospital-associated bacterial infections” received on 5/2/2013 via eCall, and based on the expert decision of the Advisory Board in the meeting of 6/26/2013, funding is granted for the following project:

Project number: 841918

eCall number: 3875436

Pre-project number: 837128

Project name (purpose of the agreement):

Development of human monoclonal antibody-based products against severe hospital-associated bacterial infections

Program:   Base program

 

./2

 

Österreichische

Forschungsförderungsgesellschaft mbH

Sensengasse

1090 Vienna

   

Phone +43(0)5 7755 - 0

Fax +43 (0) 5 7755 -97900

www.ffg.at, office@ffg.at

FN 252263a Comm. Court Vienna

   

FFG        

Project no. 841918/30000 SCK/SAI

 

Page 2

§ 2 Project period

 

2.1 The overall project period shall begin on 5/13/2011 and end on 4/30/2014.

 

2.2 Funding of the entire project by the FFG depends on the results as demonstrated in the submitted reports, the continued fulfillment of the evaluation and decision criteria, the budget available to the Funding Agency and a new positive funding decision.

§ 3 Funding period

 

3.1 The funding period of this project shall begin on the approval date 5/1/2013 and end on 4/30/2014.

§ 4 Type and amount of funding

 

4.1 Funding will be awarded in the following form over the funding period specified in § 3:

 

Type of funding

    Maximum amount  

Subsidy granted by the FFG

      EUR        585,300.00  

Loan granted by the FFG

      EUR        2,503,000.00  

Loan conditions

 

Interest rate

   

0.75% p.a. per current account

Redemption date:

   

6/30/2020

Redemption amount:

   

EUR 2,503,000.00

Interest and loan collection:

   

automatic debit procedure

Interest payment due:

    semi-annually in arrears and/or upon maturity of the loan

 

4.2 The funded financing of the project is 70.0% of the verifiable and eligible project costs. The Funding Recipient shall finance the remaining project costs. Based on the plan data, the cash value of the funding is EUR 1,025,071.00, i.e. 23.2% related to the eligible project costs pursuant to Point 5.1.

 

4.3 The maximum funding cash value according to the applicable Community Framework for public R&D subsidies is 45.0%.

 

4.4 A decrease in the eligible project costs shall entail a prorated cutback of the funding.

 

4.5 The eligible project costs pursuant to § 5 and the costs reported by way of interim and/or final accounts shall not be considered approved until a review by the FFG. The final amount of the approved overall project costs as well as the funding shall be determined only after the completion of the project in the course of the final audit.

 

./3

 

Österreichische

Forschungsförderungsgesellschaft mbH

Sensengasse

1090 Vienna

   

Phone +43(0)5 7755 - 0

Fax +43 (0) 5 7755 -97900

www.ffg.at, office@ffg.at

FN 252263a Comm. Court Vienna

   

FFG        

Project no. 841918/30000 SCK/SAI

 

Page 3

§ 5 Eligible costs

 

5.1 The funding is based on following eligible project costs:

 

Personnel costs

      EUR        959,600.00  

Cost of use of R&D infrastructure

      EUR        36,300.00  

Cost of materials

      EUR        300,000.00  

Third-party costs

      EUR        3,093,200.00  

Travel costs

      EUR        22,900.00  

Total eligible costs

      EUR        4,412,000.00  

 

5.2 All costs attributable to the project which are incurred directly, actually and additionally to the normal operating expenses) for the duration of the funded research activities are eligible costs. Additional supplementary provisions regarding eligible costs may be found in the FFG Guidelines, the FFG Guidelines Base Program and the “Guide for the Treatment of Project Costs in Funding Applications and Reports”.

 

5.3 Major changes to the cost structure shall require the prior written approval of the FFG.

 

5.4 The turnover tax payable on the costs of eligible services is not an eligible cost. However, it is considered an eligible cost component if it can be demonstrated that said turnover tax must be borne in actual fact and without recourse by the Funding Recipient, i.e. if it is not entitled to the input tax deduction. The refundable turnover tax—in whatever way—is not eligible even if it is not actually refunded to the Funding Recipient. If the tax office considers funds which are taxable under the Turnover Tax Act 1994, Federal Gazette No. 663 not as funding but as a contractual compensation for services provided by the Funding Recipient to the Funding Agency, and if the Funding Recipient owes turnover tax on such funds to the tax office, the contractual compensation shall be regarded as gross compensation. An additional, separate reimbursement of the turnover tax—for whatever legal reason—shall thus be excluded.

 

5.5 If the amortization period of an asset (Sec. 285 ABGB [Allgemeines Bürgerliches Gesetzbuch (Civil Code)]) purchased for the implementation of the project exceeds the funding period, the depreciation costs shall be eligible in the manner described in the FFG Guidelines – Base Program and the “Guide for the Treatment of Project Costs in Funding Applications and Reports”.

 

5.6 Funds provided by the Funding Agency may not be used for the creation of reserves or accruals under the Income Tax Act 1988, Federal Gazette No. 400. The funds may be used only for goods and services and for the purposes described in the funding application.

 

5.7 In case of new applications, the eligible costs incurred after receipt of the funding application may be approved. In case of follow-up applications, the earliest date for cost approval shall be the beginning of the funding period stated under § 3.

 

5.8 The costs of drawing up the agreement or the bank transfer expenses incurred by the Funding Recipient or its affiliates shall be borne by them and shall not be eligible costs.

 

./4

 

Österreichische

Forschungsförderungsgesellschaft mbH

Sensengasse

1090 Vienna

   

Phone +43(0)5 7755 - 0

Fax +43 (0) 5 7755 -97900

www.ffg.at, office@ffg.at

FN 252263a Comm. Court Vienna

   

FFG        

Project no. 841918/30000 SCK/SAI

 

Page 4

 

5.9 The Funding Agency reserves the right to postpone, cut back or suspend the disbursement of funding if and as long as circumstances prevail which might make it impossible to guarantee the proper execution of the promoted project (e.g. if the documentary evidence for costs is not adequate).

§ 6 Project-specific terms and conditions

 

6.1 Project-specific special terms and conditions

 

  1. Before the disbursement of the 1sr installment, the remaining funding must be documented in writing within 12 weeks from the issue date of the contract.

 

  2. “Other Services” shall not be funded.

 

  3. The cost for the preparation of the clinical phase (working packets 6 and 7) are funded with loans.

 

  4. A continued funding of this project in this form is not planned. The clinical work planned for the 4th project year may be submitted in the program line KLIPHA.

§ 7 Disbursement of the funds

 

7.1 The first installment in the amount of 50% of the promised funds will be disbursed after signature of the Funding Contract and fulfillment of the terms and conditions stipulated in § 6.

The second installment in the amount of 30% will be disbursed after the approval of an interim report and an interim statement in which 50% of the approved total costs must be documented, as well as after fulfillment of the terms and conditions stipulated in

§ 6.

The final installment in the amount of 20% of the total promised funds will be disbursed only after fulfillment of all terms and conditions (final account, final reports, etc.) and after the audit and approval of the statement of use (discharge) by the FFG.

 

7.2 The funds will be transferred to the following account of the Funding Recipient

 

Account holder:   ARSANIS Biosciences GmbH
Name of the bank:  
IBAN:  
BIC/SWIFT:  

§ 8 Reporting obligations

 

8.1 According to Point 3 of the General Funding Terms and Conditions, the Funding Recipient must inform the FFG about the execution of the promoted project by submitting technical reports (interim and final reports) and billing statements. The reports and billing statements must be submitted via eCall (https://ecall.ffg.at). The use of the forms to be found in eCall is mandatory. Other documents might have to be submitted at the request of the FFG.

§ 9 Amendments

 

9.1 Changes to this agreement may be made only explicitly and in writing. This shall apply also to any deviation from this requirement.

 

./5

 

Österreichische

Forschungsförderungsgesellschaft mbH

Sensengasse

1090 Vienna

   

Phone +43(0)5 7755 - 0

Fax +43 (0) 5 7755 -97900

www.ffg.at, office@ffg.at

FN 252263a Comm. Court Vienna

   

FFG        

Project no. 841918/30000 SCK/SAI

 

Page 5

 

9.2 Under special circumstances changes to the stipulated terms and conditions may, if necessary, be made later by mutual agreement in the form of written addenda if special circumstances are present and after a new advisory board decision.

§ 10 Legal liability

 

10.1 The Funding Recipient shall be unconditionally liable to the FFG for compliance with all contractual provisions. The Funding Recipient shall also be liable for the conduct of third parties for which it is responsible (e.g. owners, corporate officers, etc.). The Funding Recipient must hold the FFG harmless against third parties.

§ 11 Severability clause

 

11.1 In the event that be a provision of this Funding Contract is invalid, such event shall not affect the validity of the remaining provisions of the Funding Contract. The contractual partners undertake to replace an invalid provision by such provision as comes closest to the purpose of this Funding Contract.

§ 12 Applicable law

 

12.1 This agreement and all its attachments shall be governed by Austrian law to the exclusion of the reference norms of the Austrian IPRG.

§ 13 Legal venue

 

13.1 The legal venue agreed upon with regard to all legal disputes arising from the funding grant shall be the materially competent court in Vienna. The FFG reserves the right to take action against the Funding Recipient also at the latter’s general legal venue.

§ 14 Integral parts of the contract

 

14.1 The following documents are an integral part of the Funding Contract:

 

  •   The funding application submitted via eCall (“Development of human monoclonal antibody-based products against severe hospital-associated bacterial infections”) as amended on 5/2/2013

 

  •   General terms and conditions for Funding Contracts as amended (version 1 of 2013)

 

  •   FFG Guidelines – Base Programs as amended (3/22/2012)

 

  •   Guide for the Treatment of Project Costs in Funding Applications and Reports for Projects with Funding Contracts according to the RTD Directives and the FFG Directives, version 1.3.

14.2 The legal bases of this Funding Contract are in particular:

 

  •   Implementation Act of the Österreichische Forschungsförderungsgesellschaft mbH (Research Promotion Structural Reform Act), as amended

 

  •   Guidelines of the Österreichische Forschungsförderungsgesellschaft mbH for promoting research, technology, development and innovation (FFG Guidelines GZ: BMVIT 609.986/0005-

 

./6

 

Österreichische

Forschungsförderungsgesellschaft mbH

Sensengasse

1090 Vienna

   

Phone +43(0)5 7755 - 0

Fax +43 (0) 5 7755 -97900

www.ffg.at, office@ffg.at

FN 252263a Comm. Court Vienna

   

FFG        

Project no. 841918/30000 SCK/SAI

 

Page 6

III/12/2008 and BMWA-98.310/0032-C1/10/2008)

The Funding Recipient confirms being aware of all contract components and accepts them unconditionally.

It is pointed out that this funding offer is considered revoked if the Funding Recipient does not sign it and return it to the FFG within 3 months.

For the Funding Agency:

Österreichische Forschungsförderungsgesellschaft mbH (FFG)

[stamp:] Austrian Research Promotion Agency

Vienna, on 7/1/2013

 

/s/ Dr. Henrietta Egerth-Stadlhuber

  

/s/ Dr. Klaus Pseiner

Dr. Henrietta Egerth-Stadlhuber

Director

  

Dr. Klaus Pseiner

Director

Funding Recipient

 

Vienna, on 8/6/2013

   

ARSANIS

  

Biosciences GmbH

  

MarxBox

  

Helmut-Qualtinger—Gasse 2

  

1030 Vienna

 

 

/s/ Dr. Eszter Nagy

  (company name, please indicate name and position in block letters, company seal)
  Dr. Eszter Nagy, Director

Attachments:

Guidelines for the Österreichische Forschungsförderungsgesellschaft mbH for promoting research, technology, development and innovation (FFG Guidelines) per link https://www.ffg.at/Allgemeine-Richtlinien

General terms and conditions for Funding Contracts as amended (version 1 of 2013)

FFG Guidelines – Base Programs, as amended (3/22/2012)

Guide for the Treatment of Project Costs in Funding Applications and Reports for Projects with Funding Contracts according to the RTD Directives and the FFG Directives, version 1.3.

 

./7

 

Österreichische

Forschungsförderungsgesellschaft mbH

Sensengasse

1090 Vienna

   

Phone +43(0)5 7755 - 0

Fax +43 (0) 5 7755 -97900

www.ffg.at, office@ffg.at

FN 252263a Comm. Court Vienna

   

FFG        

Project no. 841918/30000 SCK/SAI

 

ARSANIS Biosciences GmbH

Attn.: Dr. Eszter Nagy

Helmut-Qualtinger-Gasse 2

1030 Vienna

Account statement per 12/31/2013

Project 841918

Development of human monoclonal antibody-based products against severe hospital-associated bacterial infections

 

Account no.:

    18419180

Fiscal year:

    2013

Redemption amount (EUR):

    1,244,928.00

Date of redemption:

    6/30/2020

Interest rate:

    0.75%

 

   Balance per 12/31/2013 (EUR)    0.00
Reference dates    Description of the transaction    Transacted amount (EUR)
3/10/2013    841918 DA Installment 1 GP basis    -1,251,500.00
12/2/2013    841918 Int. 0.75% per 12/31/13    -2,324.00
12/31/2013    841918 Int. 0.75% per 12/31/13    2,324.00
   Debited amount (EUR)    1,253,824.00
   Deposited amount (EUR)    2,324.00
   Balance per 12/31/2014 (EUR)    -1,251,500.00

 

./8

 

Österreichische

Forschungsförderungsgesellschaft mbH

Sensengasse

1090 Vienna

   

Phone +43(0)5 7755 - 0

Fax +43 (0) 5 7755 -97900

www.ffg.at, office@ffg.at

FN 252263a Comm. Court Vienna

   

FFG        

Project no. 841918/30000 SCK/SAI

 

ARSANIS Biosciences GmbH

Attn.: Dr. Eszter Nagy

Helmut-Qualtinger-Gasse 2

1030 Vienna

Account statement per 12/31/2014

Project 841918

Development of human monoclonal antibody-based products against severe hospital-associated bacterial infections

 

Account no.:

    18419180

Fiscal year:

    2014

Redemption amount (EUR):

    1,244,928.00

Date of redemption:

    6/30/2020

Interest rate:

    0.75%

 

   Balance per 12/31/2013 (EUR)    -1,251,500.00
Reference dates    Description of the transaction    Transacted amount (EUR)
6/2/2014    841918 Int. 0.75% per 6/30/14   

-4,723.00

6/30/2014    841918 Int. 0.75% per 6/30/14   

4,723.00

7/10/2014    841918 Amortization   

6,572.00

12/1/2014    841918 Int. 0.75% per 12/31//14   

-4,778.00

12/31/2014    841918 Int. 0.75% per 12/31/14   

4,778.00

   Debited amount (EUR)   

9,501.00

   Deposited amount (EUR)   

16,073.00

   Balance per 12/31/2014 (EUR)   

-1,244,928.00

 

./9

 

Österreichische

Forschungsförderungsgesellschaft mbH

Sensengasse

1090 Vienna

   

Phone +43(0)5 7755 - 0

Fax +43 (0) 5 7755 -97900

www.ffg.at, office@ffg.at

FN 252263a Comm. Court Vienna

   

FFG        

Project no. 841918/30000 SCK/SAI

 

ARSANIS Biosciences GmbH

Attn.: Dr. Eszter Nagy

Helmut-Qualtinger-Gasse 2

1030 Vienna

Account statement per 10/31/2015

Project 841918

Development of human monoclonal antibody-based products against severe hospital-associated bacterial infections

 

Account no.:

    18419180

Fiscal year:

    2015

Redemption amount (EUR):

    1,244,928.00

Date of redemption:

    6/30/2020

Interest rate:

    0.75%

 

   Balance per 12/31/2014 (EUR)    -1,244,928.00
Reference dates    Description of the transaction    Transacted amount (EUR)
6/1/2015    841918 Int. 0.75% per 6/30/15    -4,698.00
6/30/2015    841918 Int. 0.75% per 6/30/15    4,698.00
   Debited amount (EUR)    4,698.00
   Deposited amount (EUR)    4,698.00
   Balance per 12/31/2015 (EUR)    -1,244,928.00

 

./10

 

Österreichische

Forschungsförderungsgesellschaft mbH

Sensengasse

1090 Vienna

   

Phone +43(0)5 7755 - 0

Fax +43 (0) 5 7755 -97900

www.ffg.at, office@ffg.at

FN 252263a Comm. Court Vienna

   

FFG        

Project no. 841918/30000 SCK/SAI

 

ARSANIS Biosciences GmbH

Attn.: Dr. Eszter Nagy

Helmut-Qualtinger-Gasse 2

1030 Vienna

Account statement per 12/31/2014

Project 841918

Development of human monoclonal antibody-based products against severe hospital-associated bacterial infections

 

Account no.:    28419180
Fiscal year:    2014
Reclaim (EUR):    0

 

   Balance per 12/31/2013 (EUR)   

0.00

Reference dates    Description of the transaction    Transacted amount (EUR)
7/7/2014    841918 FB reclaims   

-1,537.00

7/7/2014    841918 FB interest   

-10.00

7/10/2014    841918 FB redemption   

1,537.00

7/10/2014    841918 FB interest   

10.00

   Debited amount (EUR)   

1,547.00

   Deposited amount (EUR)   

1,547.00

   Balance per 12/31/2014 (EUR)   

0.00

 

./11

 

Österreichische

Forschungsförderungsgesellschaft mbH

Sensengasse

1090 Vienna

   

Phone +43(0)5 7755 - 0

Fax +43 (0) 5 7755 -97900

www.ffg.at, office@ffg.at

FN 252263a Comm. Court Vienna