Exhibit 10.25

June 21, 2001

David Waldek
Chief Financial Officer
Albany Molecular Research Inc.
21 Corporate Circle
P.O. Box 15098
Albany, New York 12212-5098

Re: Collaborative Research and Technology Agreement between IntraBiotics
Pharmaceuticals, Inc. (“IntraBiotics”) and New Chemical Entities, Inc. (now
Albany Molecular Research, Inc.) (“AMRI”) dated January 24, 2001 (the
“Agreement”)

Dear David:

This letter (“Letter”) will serve to confirm the mutual release and termination
of the Agreement between IntraBiotics and AMRI as reflected in your email of
June 11, 2001.  Capitalized terms contained in this Letter shall have the
meaning set forth in the Agreement.

IntraBiotics and AMRI hereby agree to terminate the Agreement in accordance with
the terms of this Letter.  Effective upon payment by IntraBiotics to AMRI of the
sum of $300,000, which payment shall be made on or before July 31, 2001,
IntraBiotics shall fully and forever discharge all of its obligations under the
Agreement, including but not limited to any claim to the Technology Access Fee,
and such Agreement shall be terminated provided however, that the
confidentiality obligations set forth in Article 7 shall survive such
termination according to their terms.  IntraBiotics’ payment of $300,000 shall
be in addition to those amounts previously paid to AMRI under the Agreement.

IntraBiotics and AMRI each acknowledge and agree that AMRI has not yet provided
the Screening Libraries to IntraBiotics or its designee and IntraBiotics has not
yet commenced screening such Screening Libraries.  Therefore no intellectual
property has been created under the Agreement.  Each party shall continue to own
all intellectual property owned by such party as of the Effective Date.

If the foregoing is acceptable to AMRI, please sign where indicated below and
return one copy of this letter bearing your original signature to the
undersigned.

Very truly yours,

 

/s/  KENNETH J. KELLEY      

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      Kenneth J. Kelley     President and CEO     IntraBiotics Pharmaceuticals,
Inc.             Agreed and accepted:                     By: /s/  DAVID WALDEK
  Date: 6/22/01

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      David P. Waldek       Chief Financial  Officer       Albany Molecular
Research Inc.