Exhibit 10.19
AMENDMENT NO. 1
TO AGREEMENT DATED APRIL 18, 1994
THIS AMENDMENT NO. 1 is made and entered into this 22nd day of January,
1999, by and between Georgetown University, a federally chartered corporation
("Georgetown"), having a principal place of business at 00xx xxx X Xxxxxxx X.X.,
Xxxxxxxxxx, X.X. 00000 and NeoPharm, Inc., a Delaware corporation ("NeoPharm"),
having a principal place of business at 000 Xxxxxxxxx Xxxxx, Xxxxx 000,
Xxxxxxxxxxx, Xxxxxxxx 00000.
RECITALS:
WHEREAS, Georgetown and NeoPharm entered into an agreement dated April
18, 1994 (the "Agreement") providing for NeoPharm's sponsoring of certain
research by Georgetown and Georgetown granting to NeoPharm an exclusive license
in the "Field" under the "Georgetown Patents" to make, have made, use and sell
the "Products" anywhere in the world and an exclusive license to use the
"Georgetown Inventions" and "Georgetown Information" in the Field anywhere in
the world (as those terms are defined in the Agreement), including the right to
grant sublicenses; and
WHEREAS, Section 11.3 of the Agreement provides that the parties may
amend, modify and supplement the Agreement in such manner as may be agreed upon
by them in writing; and
WHEREAS, Georgetown and NeoPharm wish to amend the Agreement to
incorporate the amendments and modifications herein set forth;
NOW, THEREFORE, in consideration of the party's mutual agreements
herein contained, it is hereby agreed between the parties as follows:
1. Throughout the Agreement the name "OncoMed" is deleted and there is
substituted therefore the name "NeoPharm".
2. Existing Section 4.2 of the Agreement is hereby designated as
subsection "(a)" and there is added a new subsection as follows:
"(b) Sublicense Payment. Within 30 days of NeoPharm entering into any
sublicense with a Sublicensee, NeoPharm shall pay to Georgetown a one
time sublicense fee of $400,000."
3. The following sentence shall be added at the end of Section 5.1:
"At such time as any Sublicensee shall receive approval from
the U.S. Food and Drug Administration of a New Drug
Application with respect to any Product, then, within 30 days
of the date of notification of such approval, NeoPharm shall
make a one time payment to Georgetown of $250,000."
4. In Section 6.3(a), in the last sentence, the reference to 5% is
hereby deleted and replaced with "2 1/2%."
5. In Section 6.3(b), in the last sentence, the reference to "2 1/2%"
is hereby deleted and replaced with "1 1/4%."
6. In all other respects, the Agreement is hereby ratified and
confirmed.
[SIGNATURE PAGE FOLLOWS]
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IN WITNESS WHEREOF, the parties have executed the Amendment No. 1 as of
the day and date first above written:
GEORGETOWN UNIVERSITY
By: /s/ Xxxx Xxxxxxx
-----------------------------------
Its: Chief Financial Officer
By: /s/ Xxxxxxx X. Xxxxxxx
-----------------------------------
Its: Director, Research & Technology
NEOPHARM, INC.
By: /s/ Xxxxxxxx Xxxx
-----------------------------------
Its: Vice President
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