OPTION TO RENEW DATED AS OF NOVEMBER 6, 2013 TO LEASE AGREEMENT DATED AS OF JULY 23, 2007

OPTION TO RENEW DATED AS OF NOVEMBER 6, 2013

TO LEASE AGREEMENT DATED AS OF JULY 23, 2007

Exhibit 10.15

THIS OPTION TO RENEW dated as of November 6, 2013, to COMMERCIAL LEASE dated as of July 23, 2007 and LEASE AMENDMENT dated as of October 1, 2007, by and between XXXXXXXX PROPERTIES, LLC, a Connecticut limited liability company with offices at 0 Xxxxxxxxxxx Xxxxxxxx Xxxxxx, Xxxxxxx, XX  00000 (“Landlord”), and BIODEL, INC., a Delaware corporation, with offices at 000 Xxx Xxxx Xxxx, Xxxxxxx, Xxxxxxxxxxx  00000 (“Tenant”);

WITNESSETH:

WHEREAS, Landlord and Tenant executed a Lease Agreement dated as of July 23, 2007, pursuant to the terms of which Tenant leased approximately 19,525 square feet for its offices, or other such use as is permitted in the zoning regulations relevant to the demised premises.

WHEREAS, Landlord and Tenant executed a Lease Amendment dated as of October 1, 2007, pursuant to the terms of which Landlord and Tenant amended the Lease so that the term and the renewal option was changed to seven (7) years instead of five (5) years.

NOW, THEREFORE, in consideration of the mutual covenants and obligations contained herein, Landlord and Tenant hereby exercise this Option to Renew as follows:

1.

PREMISES

The premises is situated in the City of Danbury, County of Fairfield, State of Connecticut, described as 000 Xxx Xxxx Xxxx.

2.

TERM

As requested by the Tenant, this Option to Renew will revert to the original term of Five (5) years, instead of the Seven (7) years per the Lease Amendment and will commence on August 1, 2014 and terminating on July 31, 2019.

3.

BASE RENT

Effective as of August 1, 2014, the schedule of Base Rent shall be as outlined below:

Period	Annual Base Rent	Monthly Base Rent
August 1, 2014 -	$388,288.80 plus annual	$32,357.40 plus annual
July 31, 2019	CPI for May	CPI for May

4.

ESCALATION

Escalations shall be on an annual basis.  For the years August 1, 2015 through July 31, 2019, the escalation shall be the Base Rent of Option Year 2, (including CPI increase for May) plus annual CPI Increases for May.  The CPI shall be set at a maximum of 6%.

5.

ENTIRE AGREEMENT

Except as modified herein, all terms and conditions of the Lease shall remain in full force and effect.

IN WITNESS WHEREOF, the parties hereto have caused this Option to Renew to be executed by their duly authorized representatives as of the date first written above.

LANDLORD:
XXXXXXXX PROPERTIES, LLC
By:	/s/ Xxxxxx Xxxxxxxx		Witness:	/s/ Xxxx Xxxxx
	Xxxxxx Xxxxxxxx			Xxxx Xxxxx
	Member
TENANT:
BIODEL, INC.
By:	/s/ Xxxx Xxxxxxx		Witness:	/s/ Xxxxxxx Xxxxxxxxxx
	Xxxx Xxxxxxx			Xxxxxxx Xxxxxxxxxx
	Vice President, Operations