Exhibit 10.24

 

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Letter of Payment Authorization*

 

February 1st, 2011

 

Gary Hattersley, Ph.D.
Vice President, Biology
RADIUS HEALTH, INC.
5th Floor
300 Technology Square
Cambridge, MA 02139
United States
ghattersleyaradiuspharm.com

 

Dear Gary,

 

We thank you for your interest in Charles River and hope the attached proposal
meets with your approval.  For your convenience, we have provided the following
summary of the titles and prices of the studies and/or study components under
discussion.  If you would like us to proceed with animal orders resource
allocation, sign and date the authorization line below.  (If all studies and/or
components are not being authorized at this time, please initial the studies and
components you wish to authorize and sign and date the authorization line
below.  If all studies are being authorized at this time, merely sign and date
the authorization line below, leaving the studies and component boxes empty).
 These prices are valid for [*] days, but may be modified by mutual agreement if
changes to the scope of work are made.

 

Authorization
Initials

 

Study Number and Title

 

Price

 

 

 

670646

 

 

 

 

 

A [*]-Month Osteoporosis Intervention Study In The Ovariectomized [*]

 

 

 

 

 

(based on Draft Protocol version 2)

 

 

 

 

 

Study Price:

 

$

[*] US

 

 

 

Biomechanics:

 

$

[*] US

 

 

 

Biomarkers:

 

$

[*] US

 

 

 

Bone Densitometry: (DXA + pQCT)

 

$

[*] US

 

 

 

Histomorphometry:

 

$

[*] US

 

 

 

Total Price:

 

$

[*] US

 

 

 

Price with [*]% pre-discount:

 

$

[*] US

 

 

 

Total price with [*]% MPM discount:

 

$

[*] US

 

 

In order to minimize the impact of study delays and cancellations for all
sponsors, Charles River allocates resources at the time a signed Letter of
Payment Authorization is received.  Please note that scheduling is not
considered confirmed until a signed copy of this document is received.  By
providing authorization via signature below, you will allow us to confirm a
schedule for each authorized study.  Your signature further constitutes
acceptance of the price and payment schedule.

 

Payment Schedule for Study # 670646

 

The payment schedule of this study is as follows:

 

· [*]%    Due at animal arrival

· [*]%    Equal Monthly Installment

· [*]%    Due upon Submission of Draft Report

· [*]%    Due upon Submission of Final Report

 

Based upon the current scope of work, we would propose the animal arrival in
[*].  Prior to receipt of this signed Letter of Payment Authorization this
initiation date may be lost to another study vying for the same resources.

 

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* Confidential Treatment Requested by the Registrant. Redacted Portion Filed
Separately with the Commission.

 

1

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We understand that occasionally you may request to delay or to cancel a study
due to unforeseen circumstances.  Charles River will make every commercially
reasonable effort to accommodate requested schedule changes.

 

Charles River shall perform these services in accordance with the services
agreement (the “Agreement”) executed between Charles River and RADIUS
HEALTH, INC.  Once fully executed, this Letter of Payment Authorization shall be
incorporated into and made part of the Agreement.

 

STUDY MATERIAL STORAGE/ARCHIVES.  After dispatch of the draft report, all raw
data, samples/specimens (except for those sent to Sponsor or Sponsor designated
laboratory and resultant data which are the responsibility of Sponsor) and
documents generated at Charles River during this study, together with the
original copy of the protocol (including amendments) and the draft report, will
be retained in the secure storage area of Charles River for [*] ([*]) year at no
charge.  After this [*] ([*]) year period, Sponsor will be contacted prior to
the end of the year to authorize continued storage or return to Sponsor, at
additional cost.  At finalisation, the final report and any stored materials
will be transferred to the scientific archives of Charles River.  Subsequently,
storage details will be documented in the raw data.

 

Any additional storage, archiving or retention will require an Extended
Archiving Agreement.

 

REPEAT OF SAMPLE ANALYSIS.  If applicable for studies involving bioanalytical
sample analysis, the parties agree that as of commencement of work, in some
instances, repeat of sample analysis will be required.  If this arises, Charles
River must notify the Sponsor as soon as possible and determine, between the
parties, if these repeats are required by Sponsor.  Consequently, the price per
sample analysis/occasion will apply to any additional repeats requested by the
Sponsor, as well as any samples above the analytical range, which require
dilution.  However, in the event that additional sample analysis/occasions are
required, Charles River shall submit a written estimate to the Sponsor for the
Sponsor’s written approval, and the Sponsor shall respond to Charles River
within [*] ([*]) business days, or within the specified time period sanctioned
by the Sponsor for receipt of such estimates.  Once authorization is received,
Charles River will endeavor, when possible, to proceed with current batches of
sample analysis.  Both parties acknowledge that Charles River will be reimbursed
for any amount which relates to the repeats if the difference between the
original result of the sample analysis and the repeat result of the sample
analysis, is within a [*]% range.

 

SHIPMENT OF TEST ARTICLES.  Sponsor and Charles River agree that all costs
associated with shipping test article to Charles River shall be the
responsibility of the Sponsor.  Charles River shall not be responsible for any
direct or indirect damages sustained by the Sponsor resulting from any loss,
destruction or damage to the test article(s).

 

In the event of a conflict between the terms set forth in this Letter of Payment
Authorization and the Agreement, the terms of the Master Service Agreement shall
control, unless specifically agreed upon to the contrary in this letter.

 

Please sign and return this document via facsimile or email (contact information
below).  Should you have any questions or require any additional information,
please do not hesitate to call me. We look forward to being of service.

 

Best regards,

 

 

 

/s/ B. N. Harvey

 

 

Authorized Sponsor Representative

[*] /s/ [*]

 

 

Client Manager, Sales & Marketing

 

 

Charles River Laboratoires

 

B. N. Harvey, CFO

Preclinical Services Montreal Inc.

 

Date

Feb 3, 2011

 

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* Confidential Treatment Requested by the Registrant. Redacted Portion Filed
Separately with the Commission.

 

2

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22022 Transcanadienne

 

Print (Name and Title)

Senneville, Québec, Canada H9X 3R3

 

 

Tel: (514) [*]

 

 

Fax: (514) [*]

 

 

e-mail:[*]

 

Date

Web site: www.criver.com

 

 

 

If a PO is required, please submit PO with Letter of Payment Authorization or
fax to 514-630-8230.

 

Charles River Laboratories
Preclinical Services Montréal Inc.

 

 

 

 

 

/s/ Michele Marcoux

 

 

Michele Marcoux, CMA
Director, Finance

 

 

 

 

 

Feb 7, 2011

 

 

Date

 

 

 

A counter signed version of this document will be returned to you for your
records.

 

c.c. M. Marcoux, S. Pryce, D. Tremblay, S Y. Smith, Main File

 

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* Confidential Treatment Requested by the Registrant. Redacted Portion Filed
Separately with the Commission.

 

3

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Date Created: March 12, 2010
Sponsor: Radius Health, Inc.

 

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