AMENDMENT NO. 1 TO LICENSE AGREEMENT
Exhibit
10.18
AMENDMENT
NO. 1 TO
Amendment
No. 1 to License (this “Amendment”)
made as
of August 2, 2006, by and between Acuity
Pharmaceuticals, Inc.,
a
Delaware corporation, with its principal offices at 0000 Xxxxxx Xxxxxx,
Xxxxxxxxxxxx, XX, 00000 (“Acuity”)
and
Pathogenics,
Inc.,
a
Delaware Corporation with its principal offices at 00 Xxxxx Xxxxxx, Xxxxx 000,
Xxxxxxx, XX 00000 (“Pathogenics”).
BACKGROUND
WHEREAS,
Acuity and Pathogenics entered into a License Agreement (the “License
Agreement”)
on
April 13, 2006;
WHEREAS,
Section 3.2(d)(i) of the License Agreement provided for a payment by Acuity
of
up to $75,000 to be used the Institute of Hygiene and Social Medicine,
Leopold-Franzens-University of Innsbruck, Austria and or the Phase II clinical
investigators to be used to accelerate recruitment into a Phase II clinical
trial;
WHEREAS,
Pathogenics has requested that Acuity make available $3,830 to Pathogenics
to be
used to fund activities to accelerate recruitment into a Phase I clinical trial;
and
WHEREAS,
Acuity has agreed to fund the $3,830 provided that it be credited against the
$75,000 referenced in Section 3.2(d)(i) of the License Agreement.
NOW,
THEREFORE, in consideration of the mutual promises, covenants, agreements,
representations and warranties hereinafter set forth, and intending to be
legally bound, the Parties hereby agree as follows:
1.
Acuity
hereby agrees to pay $3,830 to Pathogenics to be used to fund activities to
accelerate recruitment into a Phase I clinical trial.
2.
Pathogenics
hereby agrees that the $3,830 shall be credited against the $75,000 referenced
in Section 3.2(d)(i) of the License Agreement.
(Signature
Page Follows)
IN
WITNESS WHEREOF,
the
parties have caused this Amendment to be executed by their duly authorized
representatives as of the day and year first indicated above.
|
ACUITY
PHARMACEUTICALS, INC.
|
||||
|
By:
|
/s/
Xxxx X. Xxxxx
|
|||
|
Name:
Xxxx X. Xxxxx
|
||||
|
Title:
President and Chief Executive Officer
|
||||
|
By:
|
/s/
Xxxxxxxx X. Xxxxx
|
|||
|
Name:
Xxxxxxxx X. Xxxxx
|
||||
|
Title:
President and Chief Executive Officer
|
||||
