DOR - SIGMA TAU LETTER EXTENSION
UNITED
STATES
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): May
3, 2007
Commission
File No. 000-16929
DOR
BIOPHARMA, INC.
(Exact
name of small business issuer as specified in its charter)
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DELAWARE
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41-1505029
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(State
or other jurisdiction of incorporation or organization)
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(I.R.S.
Employer Identification Number)
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1101
Brickell Ave., Suite 701 S
Miami,
FL
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33131
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(Address
of principal executive offices)
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(Zip
Code)
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(305)
534-3383
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(Issuer’s
telephone number, including area code)
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Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
[
]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[
]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[
]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act
(17 CFR 240.14d-2(b))
[
]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act
(17 CFR 240.13e-4(c))
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Item
1.01
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Entry
into a Material Definitive
Agreement.
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As
previously reported in a Form 8-K filed with the Securities and Exchange
Commission on January 4, 2007, DOR BioPharma, Inc. (the “Company”) entered into
a non-binding letter of intent (the “Letter of Intent”) with Sigma-Tau
Pharmaceuticals, Inc. (“Sigma-Tau”), pursuant to which the parties entered into
negotiations regarding a possible business transaction or strategic alliance
involving the Company’s lead product, orBec® (oral beclomethasone dipropionate),
and potentially other Company pipeline compounds. As part of the Letter of
Intent, Sigma-Tau contributed $2 million in cash to the Company as an advance
on
future payments that may be due under a commercialization arrangement between
the parties.
Until
the
Letter of Intent was amended on May 3, 2007, the Company was obligated to return
the $2 million to Sigma-Tau by April 30, 2007. Under the May 3, 2007 letter
agreement between the parties, the Company now has until May 31, 2007 to return
such funds to Sigma-Tau. All other terms of the Letter of Intent remain in
effect.
The
Company and Sigma-Tau are continuing their discussions concerning a potential
sublicense granting Sigma-Tau the right to sell orBec® in Europe.
Item
9.01 Financial
Statements and Exhibits
(c)
Exhibits:
10.1 Letter
dated May 3, 2007 between DOR BioPharma, Inc. and Sigma-Tau Pharmaceuticals,
Inc.
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 hereunto
duly authorized.
DOR
BIOPHARMA, INC.
By:
/s/
Christopher J. Schaber
Name:
Christopher J. Schaber
Title:
Chief Executive Officer
Date:
May
4, 2007
EXHIBIT
INDEX
Exhibit
No. Description
10.1 Letter
dated May 3, 2007 between DOR BioPharma, Inc. and Sigma-Tau Pharmaceuticals,
Inc.