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EXHIBIT 10.162
LIMITED EXTENSION OF COLLABORATIVE TECHNOLOGY
RESEARCH, OPTION AND DEVELOPMENT AGREEMENT
This Agreement, having an effective date as of the date of completed
execution by the parties, is entered into by and between GLYCOMED INCORPORATED
("Glycomed"), a California corporation having a place of business at 000
Xxxxxxxx Xxxxxx, Xxxxxxx, Xxxxxxxxxx, 00000, X.X.X. and SANKYO COMPANY LIMITED,
a Japanese corporation having its principal place of business at 5-1,
Xxxxxxxxxx-Xxxxxx, 0-xxxxx, Xxxx-xx, Xxxxx 000, Xxxxx ("Sankyo").
WHEREAS, Glycomed and Sankyo have previously entered into a
COLLABORATIVE TECHNOLOGY RESEARCH, OPTION AND DEVELOPMENT AGREEMENT (the
"Collaborative Technology Agreement") having an effective date of June 27, 1994;
WHEREAS the Collaborative Technology Agreement includes a Research Term
scheduled to expire on June 26, 1997; and
WHEREAS Glycomed and Sankyo have agreed to extend the Research Term of
the Collaborative Technology Agreement for a limited period;
NOW, THEREFORE, the parties agree as follows:
1. The Research Term of the Collaborative Technology Agreement shall be
extended for limited period from June 27, 1997 to October 31, 1997 under the
same terms and conditions including an additional four (4) months payment of
Eight Hundred Eighty-Eight Thousand, Eight Hundred Eighty-Nine U.S. Dollars
(U.S. $888,889) payable by Sankyo under Article 2.6.1 of the Collaborative
Technology Agreement to cover the extension of the Research Term as set forth
herein.
GLYCOMED INCORPORATED SANKYO COMPANY, LIMITED
By: /s/ Xxxxx Xxxxxxxx By: /s/ Xxxxxxxxx Xxxx
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Xxxxx Xxxxxxxx Xxxxxxxxx Xxxx
Title: Senior Vice President, Title: Managing Director
Preclinical Development Research Institute
Research & Development
Project Management
Date: June 24, 1997 Date: June 23, 1997
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