AGREEMENT

                              AGREEMENT


     Pursuant to Rule 13d-1(f)(1) under the Securities Act of 1934, the 
undersigned hereby agree that only one statement containing the information 
required by Schedule 13D needs to be filed with respect to the ownership by 
each of the undersigned of Units of Limited Partnership Interest of 
PaineWebber R&D Partners II, L.P.

Dated:  November 17, 1997


                                    BIOROYALTIES, L.L.C.

                                    By: /s/ Xxxxx Xxxxxx
                                        ---------------------------
                                    Name:  Xxxxx Xxxxxx
                                    Title:  Managing Member of Pharmaceutical
                                            Partners, L.L.C., the Manager


                                    PHARMACEUTICAL ROYALTIES, L.L.C.

                                    By: /s/ Xxxxx Xxxxxxxxx
                                        ---------------------------
                                    Name:  Xxxxx Xxxxxxxxx
                                    Title:  Managing Member of Pharmaceutical
                                            Partners, L.L.C., the Manager


                                    PHARMACEUTICAL ROYALTY INVESTMENTS LTD.

                                    By: /s/ Xxxxx Xxxxxxxxx
                                        ---------------------------
                                    Name:  Xxxxx Xxxxxxxxx
                                    Title:  Managing Member of Pharmaceutical
                                            Partners, L.L.C., the Manager


                                    PHARMACEUTICAL PARTNERS, L.L.C.


                                    By: /s/ Xxxxx Xxxxxxxxx
                                        ---------------------------
                                    Name:  Xxxxx Xxxxxxxxx
                                    Title:  Managing Member


                                            /s/ Xxxxxxx Xxxxx-Freke
                                            ------------------------
                                     Name:  Xxxxxxx Xxxxx-Freke


                                            /s/ Xxxxx Xxxxxxxxx
                                            ------------------------
                                     Name:  Xxxxx Xxxxxxxxx


                                            /s/ Xxxxx Xxxxxx
                                            ------------------------
                                     Name:  Xxxxx Xxxxxx


                                            /s/ Xxxx Xxxxx
                                            ------------------------
                                     Name:  Xxxx Xxxxx