EXHIBIT 10.2

ASSIGNMENT AND ASSUMPTION AGREEMENT

This ASSIGNMENT AND ASSUMPTION AGREEMENT (the “Assignment”), dated as of October
25, 2006, by and among Keryx Biopharmaceuticals, Inc., a Delaware corporation
(the “Assignor”) and AOI Pharmaceuticals, Inc., a Delaware corporation and
wholly-owned subsidiary of Assignor (the “Assignee”).

WITNESSETH

WHEREAS, the Assignor entered into a License Agreement (the “Agreement”) on
September 29, 2006 with Kyowa Hakko Kogyo Co., Ltd. (“Kyowa”), a corporation
formed under the laws of Japan, regarding the compound UCN-01 (capitalized terms
used but not defined herein shall have the meanings ascribed to them in the
Agreement);

WHEREAS, Section 25 of the Agreement specifies that the Agreement may not be
assigned to a “Third Party” by either “Party” without the other “Party’s” prior
written consent thereto;

WHEREAS, Section 1.46 of the Agreement provides that a “Third Party” shall not
include any Affiliate of Assignor or Kyowa;

WHEREAS, Section 1.1 of the Agreement provides that an “Affiliate” of the
Assignor shall mean any business entity which controls, is controlled by, or is
under common control with Assignor, where a corporation or non-corporate
business entity shall be regarded as in control of another corporation if it
owns or directly or indirectly controls more than fifty percent (50%) of the
voting stock of the other corporation;

WHEREAS, Assignee is an Affiliate of Assignor;

WHEREAS, Assignor intends to assign and transfer all rights, benefits,
privileges, and claims, as well as obligations, duties, and responsibilities
pursuant to the Agreement (the Assigned Rights and Obligations”) to the
Assignee;

WHEREAS, the Assignee desires, on the terms set forth herein, to assume all of
the Assigned Rights and Obligations.

NOW, THEREFORE BE IT RESOLVED, that the Assignor and the Assignee agree as
follows:

1.  
Assignment and Assumption.

(a)  
Assignor hereby assigns to Assignee all of the Assigned Rights and Obligations,
and Assignee hereby assumes all of the Assigned Rights and Obligations.

 

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(b)  
Assignee assumes, and agrees to pay and perform, all unperformed obligations of
Assignor with respect to the Assigned Rights and Obligations, and agrees to be
bound by the provisions of the Agreement, as if it were an original signatory
thereto, and Assignor shall have no further obligations under the Agreement.

2.  
Binding Effect; Successors and Assigns. The provisions of this Assignment shall
be binding upon and inure to the benefit of the parties hereto and their
respective successors and permitted assigns as set forth in the next sentence.
This Assignment may not be assigned by any party hereto without the prior
written consent of each of the other parties hereto.

3.  
Amendment; Waiver. This Assignment may be amended only by a written instrument
signed by all the parties hereto. No waiver by any party hereto of any provision
hereof shall be effective unless set forth in a writing executed by the party so
waiving.

4.  
Governing Law. This Assignment shall be governed by and construed in accordance
with the laws of the State of New York (without regard to conflict of law
principles).

5.  
Counterparts. This Assignment may be executed in any number of counterparts, and
each such counterpart shall be deemed to be an original instrument, but all such
counterparts together shall constitute but one agreement.

6.  
Entire Agreement. This Assignment supersedes any other agreement, whether
written or oral, that may have been made or entered into by the parties hereto
relating to the matters contemplated hereby and constitutes the entire agreement
of the parties.

 
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IN WITNESS WHEREOF, the Assignor and the Assignee have caused this Assignment
and Assumption Agreement to be executed by its duly authorized officer as of the
day and year first above written.

 
ASSIGNOR:
 
KERYX BIOPHARMACEUTICALS, INC.
 
 
By:/s/ Michael S. Weiss                            

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Name: Michael S. Weiss                      
 
Title: Chairman and CEO                      
 
 
 
ASSIGNEE:
 
AOI PHARMACEUTICALS, INC.
 
 
By:/s/ Michael S. Weiss                            

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Name: Michael S. Weiss                       
 
Title:President                                        

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