EXHIBIT 10.50
[Pfizer letterhead]
Xxxx X. XxXxxxxxx, Ph.D.
Vice President, Pfizer Inc
Executive Vice President, PGRD
President, Worldwide Research
June 13, 2002
Xxxxxx Xxxxxx
Corvas International Inc.
0000 Xxxxxxx Xxxx Xxxx
Xxx Xxxxx, Xxxxxxxxxx 00000-0000
Dear Xxxxxx:
In accordance with Section 18.4 of the License and Development Agreement, dated
October 14, 1995 between Corvas International, Inc. and Pfizer Inc, including
Pfizer Limited (the " 1995 Agreement"), Pfizer has terminated the development in
all indications of Neutrophil Inhibitory Factor and terminates the 1995
Agreement.
Pfizer and Xxxxxx shall meet at a date to be determined to discuss the transfer
of materials and documents from Pfizer to Corvas to fulfill the obligations of
Pfizer under the 1995 Agreement.
Sincerely yours,
/s/ XXXX X. XXXXXXXXX
Xxxx. X. XxXxxxxxx
