EXHIBIT 4.17
YORK
MEDICAL INC.
YORK MEDICAL INC.
0000 Xxxxxxx Xxxxx November 23, 1995
Xxxx. 00, Xxxxx 000 CBQYM INC.
X0X 0X0 0000 Xxxxxxx Xxxxx
Xxxxxxxx 00, Xxxxx 000
Tel: (000) 000-0000 Xxxxxxxxxxx, Xxxxxxx X0X 0X0
Fax: (000) 000-0000
Internet: xxxxxxx@xxxxxx.xxxxx.xx Dear Sirs:
We refer to the assignment and assumption
agreement dated as of November 22, 1995 among CBQYM INC.
and York Medical Inc. ("YMI") pursuant to which YMI
assigned to CBQYM INC. all of YMI's right, title and
interest in and to the Licensing Agreement (as defined
therein).
YMI agrees to conduct or arrange for the conduct
of the appropriate studies and clinical trials of the
products and processes to which CBQYM INC. was assigned
rights under the Licence Agreement, and to pay, or cause
to be paid, the cost of any such studies and trial so
conducted, subject to reimbursement by CBQYM INC. as
described below. YMI shall, in agreement with CBQYM
INC., determine the nature and protocol of any study or
trial so conducted. Notwithstanding the foregoing, YMI
shall have no obligation to conduct or arrange for the
conduct of any study or trial where such study or trial
would be commercially or scientifically unreasonable in
the circumstances, as determined by YMI in its sole
discretion. In addition, YMI shall pay the initial
organizational expenses and the administrative expenses
of CBQYM INC. which expenses shall constitute expenses
to be included in the calculation of the "Net Revenues"
described in the Licence Agreement between CBQYM INC.
and YMI.
Yours very truly,
York Medical Inc
by:
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Xxxxx X.X. Xxxxx
Chairman
Accepted and agreed to as of November 23, 1994.
CBQYM INC.
by:
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by:
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on behalf of YMI's Nominee
duly authorized to sign
by:
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on behalf of CIMAB S.A's Nominee
duly authorized to sign
