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Exhibit 10.3
CTRC
CANCER THERAPY & RESEARCH CENTER
December 4, 1996
Xx. Xxxxxxx X. Love By Telecopy
President
Ilex Oncology, Inc.
00000 XX 00 Xxxx, Xxxxx 000
Xxx Xxxxxxx, Xxxxx 00000
Loan Agreement Dated As Of November 18, 1994
Dear Mr. Love:
The purpose of this letter is to evidence the agreement between Ilex
Oncology, Inc. and CTRC Research Foundation that the Loan Agreement dated as of
November 18, 1994 between Biovensa, Inc., as Borrower (which by change of its
corporate name became Ilex Oncology, Inc.) and CTRC Research Foundation, as
Lender, is terminated effective as of December 2, 1996 and that neither party
shall, after that date, have any obligation or liability to the other under the
Loan Agreement or under the Promissory Note of even date therewith in the
original principal amount of $500,000. CTRC Research Foundation acknowledges
and agrees that all indebtedness of Ilex Oncology, Inc. owed to CTRC Research
Foundation under the Loan Agreement or the Note has been paid in full.
If this letter correctly sets forth our agreement, please so indicate by
signing the enclosed copy of this letter and returning it to us.
Very truly yours,
CTRC RESEARCH FOUNDATION
By: /s/ Xxxxx X. Xxxxx
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Xxxxx X. Xxxxx
Vice President and
General Counsel
Agreed to this 5th day of December, 1996
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ILEX ONCOLOGY, INC.
By: /s/ X. X. Love
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Xxxxxxx X. Love, President
