Exhibit 10.26

September 5, 2007

CDC IV, LLC

47 Hulfish Street, Suite 310

Princeton, NJ 08542

Attention: David Ramsay

Dear Sirs:

Reference is made to the License and Development Agreement made as of September
5, 2007 by and among BioDelivery Sciences International, Inc. (“BDSI”), Arius
Pharmaceutical, Inc. (“Arius”) and Meda AB (“Meda”) (the “Meda License
Agreement”), a copy of which is attached hereto as Exhibit A.

The undersigned, CDC IV, LLC hereby acknowledges (i) that it has executed that
certain Sublicensing Consent and Amendment by BDSI, Arius and CDC IV,LLC
attached hereto as Exhibit B; (ii) that Meda has relied upon the attached
consent in connection with its execution of the Meda License Agreement; and
(iii) that the only rights of unilateral termination available to CDC IV, LLC
under the CDC License (as defined in the attached consent) are contained in
Sections 10.2, 10.3 and 10.4 of the CDC License.

Please indicate your agreement to the provisions of this Letter Agreement by
having a duly authorized officer of each of the addressees execute this Letter
Agreement in duplicate and then return an executed copy to the undersigned.

[Signature page to follow.]

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Very truly yours, MEDA AB By:  

/s/ Anders Lonner

Name:   Anders Lonner Title:   Chief Executive Officer

 

ACCEPTED AND AGREED TO AS OF

THE DATE OF THIS LETTER AGREEMENT:

CDC IV, LLC By:  

/s/ David Ramsey

Name:   David Ramsey Title:   Partner

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EXHIBIT A

MEDA LICENSE AGREEMENT

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EXHIBIT B

CDC SUBLICENSING CONSENT AND AMENDMENT