Item 1.01 Entry into a Material Definitive Agreement.
On August 17, 2017, Proteon Therapeutics, Inc. (the “Company”) and Boston
Properties Limited Partnership (“Lessor”) entered into a Fourth Amendment to Lease (the “Lease Amendment”).
The Company and Lessor are parties to a Lease dated as of July 13, 2009, as previously amended (the “Lease”), pursuant
to which the Company leases office space at 200 West Street, Waltham, Massachusetts (the “Facility”) from the Lessor.
The Lease Amendment extends the term of the Lease for a period of fifteen (15) months from June 30, 2018 until September 30, 2019
and, commencing on January 1, 2018, increases the Company’s office space under the Lease by 2,552 square feet of additional
property for a total of approximately 7,500 square feet. In addition, the Company has the option to extend the term of the Lease
for an additional one-year period upon the Company’s written notice to the Lessor at least six months prior to the expiration
of the term. The rental payments associated with the Lease over the remaining two years of the term are estimated to be approximately
$0.3 million, which includes the Company’s pro rata in share of certain real property taxes, operating expenses and common
area maintenance expenses.
The foregoing summary is qualified in its entirety by reference to the Lease Amendment
which the Company expects to file as an exhibit to its Quarterly Report on Form 10-Q for the fiscal quarter ending September 30,