Portions of this exhibit have been omitted pursuant to a request for confidential treatment. The omitted portions, marked by [***], have been separately filed with the Securities and Exchange Commission. THIRD AMENDMENT TO DEVELOPMENT, MANUFACTURING...
EXHIBIT
10.60
Portions
of this exhibit have been omitted pursuant to a request for confidential
treatment. The omitted portions, marked by [***], have been separately filed
with the Securities and Exchange Commission.
THIRD
AMENDMENT TO
This
Third Amendment is made effective as of the 2nd day of
April, 2008, to the Development, Manufacturing and Supply Agreement made June
28, 2005 (the “Agreement”) by and between Xxxxxx Xxxx Corporation, a Delaware
corporation, having its principal place of business at 000 Xxxxxxxxxxxx Xxxxxx,
Xxxxx, XX 00000 (hereinafter “KNC”) and BioMimetic Therapeutics, Inc.
(formerly, BioMimetic Pharmaceuticals Inc.), a Delaware corporation, having its
principal place of business at 000-X Xxxxxx Xxxx Xxxx, Xxxxxxxx, XX 00000
(hereinafter “BMTI”)(each, individually a “Party” and collectively, the
“Parties”).
WHEREAS,
KNC and BMTI entered into the Agreement to develop delivery matrices and
delivery devices utilizing BMTI’s proprietary molecules to be used in treatment
of musculoskeletal tissue;
WHEREAS,
KNC and BMTI have agreed to develop a modified form of BMTI’s [***], which
program is defined in the updated Development Plan (the ”Updated Development
Plan”); and
WHEREAS,
the Parties desire to restructure certain milestone payments within the
Agreement by this Amendment and to recognize KNC’s efforts expended under the
Development Plan as set forth in the Agreement and efforts under the Updated
Development Plan.
NOW,
THEREFORE, IN CONSIDERATION of the mutual agreements contained herein, and
pursuant to Section 16.2 of the Agreement, the Parties agree to amend the
Agreement as follows:
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1.
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The
following milestones are added to Section 6.1 of the
Agreement:
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“p. [***]
on or before April 15, 2008 to compensate KNC for work completed between
February 1, 2008 and March 31, 2008 on the Putty Product and Injectable Product
pursuant to the Development Plan; and
q. [***]
on or before June 30, 2008 for research and development services performed under
the Development Plan and the Updated Development Plan between April 1, 2008 and
June 30, 2008; and
r. [***]
on or before September 30, 2008 for research and development services performed
under the Updated Development Plan between July 1, 2008 and September 30,
2008.”
[***] Redacted
pursuant to confidential treatment request.
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2.
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This
Third Amendment is meant to amend, modify or supersede only those specific
Sections, rights, responsibilities, liabilities and/or covenants expressly
referred to in this Third Amendment, and only to the extent so referred
to; and accordingly all other Sections and covenants of the Agreement
shall remain unaffected and shall continue to have full force and
effect.
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IN
WITNESS WHEREOF, the parties have executed this Third Amendment through their
duly authorized representatives as of the date first written above.
XXXXXX
XXXX CORPORATION
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By:
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/s/ Xxxx Xxxxxxx
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By:
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/s/ Xxxxxx X. Xxxxxxxx
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General
Counsel
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President
& CEO
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