October 14, 2005 Ms. Barbara Pifel Weill Medical College of Cornell University Senior Director of Grants & Contracts
Exhibit
10.24
October
14, 2005
Xx.
Xxxxxxx Xxxxx
Xxxxx
Medical College of Cornell University
Senior
Director of Grants & Contracts
0000
Xxxx
Xxxxxx, Xxx 00
Xxx
Xxxx,
XX 00000
|
Re:
|
Sponsored
Research Agreement between Marc Pharmaceuticals, Inc. and Weill
Medical
College at Cornell University regarding cancer research dated June
19,
2002 (the “Sponsored Research
Agreement”)
|
Dear
Xxxxxxx:
Pursuant
to that certain letter dated June 29, 2005, Weill Medical College of Cornell
University (“Weill”) and Marc Pharmaceuticals, Inc. (“Marc”) agreed that the
Sponsored Research Agreement would be extended for an additional one-year
term
commencing October 1, 2005 and ending September 30, 2006 (the “Continued
Term”). In consideration for this extension, it was also agreed that Marc
would make the following payments to Weill:
|
October
1, 2005
|
$50,000
|
|
January
1, 2006
|
$50,000
|
|
April
1, 2006
|
$75,000
|
|
July
1, 2006
|
$75,000
|
A
check
in the amount of Ten Thousand Dollars ($10,000) is enclosed with this
letter. A revised payment schedule for the Continued Term is as
follows:
|
November
15, 2005
|
$40,000
|
|
February
15, 2006
|
$50,000
|
|
May
15, 2006
|
$75,000
|
|
August
15, 2006
|
$75,000
|
If
the
forgoing is acceptable to you, please sign and return the enclosed copy of
this
letter.
Sincerely,
Marc
Pharmaceuticals, Inc.
By:
______________________
Name:
Xxxxxx X. Xxxxx
Title:
CEO & President
Agreed
and accepted:
Weill
Medical College of Cornell University
By:
________________________
Name:______________________
Title:
_______________________
Principal
Investigator
_____________________________
Xx.
Xxxx
Xxxxxx
