Exhibit 10.12



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|----------------- |  | ---------------------------- |  | ---------------------------
|FROM: [ILLEGIBLE] |  | PHONE NO.   : 00442076811314 |  | 13 DEC.   2006 01: 58 PM P1

AMENDMENT

This
is an amendment to the Research, Development and License Agreement (R&L AGREEMENT) entered into on August 15, 2005, by and between Lipoxen Technologies Limited, a company registered in England and [ILLEGIBLE] with company
number 03401495 and having its registered office at suit[ILLEGIBLE] WC1H [ILLEGIBLE] (LIPOXEN); [ILLEGIBLE] Healthcare SA (BHSA), a corporation organized and existing under the laws of Switzerland, and
Baxter Healthcare Corporation (BHC) having its principal place of business at One [ILLEGIBLE] Parkway, [ILLEGIBLE], [ILLEGIBLE]

WHEREAS, LIPOXEN has [***] to the terms of Article 2.3 of the R&L AGREEMENT before the ACCEPTANCE DATE (as defined in the R&L AGREEMENT), and
specifically by December 13, 200[ILLEGIBLE];

WHEREAS, [***] provided that the R&L AGREEMENT [***] as provided below:

ACCORDINGLY, BAXTER and LIPOXEN agree to the following amendments and modifications of the R&L AGREEMENT:



|1. | Replace Article 2.1 with the following:
|-- | ---------------------------------------

In General BAXTER [ILLEGIBLE] LIPOXEN
with[***] or other THERAPEUTIC AGENTS to [ILLEGIBLE] developing DELIVERY AGENTS and POTENTIAL PRODUCTS to be utilized by BAXTER in its research and development activities to [***] other THERAPEUTIC AGENT. BAXTER shall as soon as possible
after the EFFECTIVE DATE provide all of the BAXTER KNOW-HOW to LIPOXEN. At BAXTERs sole discreation BAXTER may or may not provide to LIPOXEN data [ILLEGIBLE] by BAXTER in [***] other THERAPEUTIC AGENTS, including data relating
[ILLEGIBLE] the [***] (and protocols on the various techniques used), [***] [ILLEGIBLE] [***] stability data (including native proteins) and publications (patent and research papers).



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|FROM : [ILLEGIBLE] |  | PHONE NO. : 00442076811314 |  | 13 DEC. 2006  01 : 59 PM P2



|2. | Add the following definition 1.75:
|-- | ----------------------------------

THIRD PARTY PRODUCT means a product brought to
the market by a third party which contains a THERAPEUTIC AGENT [***], (i) which product competes with a COMMERCIAL PRODUCT and (ii) which product does not infringe a VALID PATENT CLAIM.



|3. | Amend Article 8.3 by adding the statement, and the term for paying such royalty [***] after  [***] , and add the following paragraph between the first and second paragraphs:
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

The ROYALTY RATE shall [***] respect of COMMERCIAL PRODUCTS sold or supplied in a country where there exists a THIRD PARTY PRODUCT. In
the event LIPOXEN and BAXTER [***] whether such THIRD PARTY PRODUCT infringes a VALID PATENT CLAIM, [***] LIPOXEN [***] and if LIPOXEN elects to bring an action against such THIRD PARTY PRODUCT [ILLEGIBLE] that such THIRD PARTY PRODUCT
infringes a VALID PATENT CLAIM. In the event LIPOXEN succeeds [ILLEGIBLE] such action [***] LIPOXEN, which sums LIPOXEN [***] BAXTER.



|4. | Amend Article 8.4 by adding the following sentence:
|-- | ---------------------------------------------------

In the event a THIRD PARTY PRODUCT
is sold or supplied in a country in which a COMMERCIAL PRODUCT is sold or supplied then BAXTERs [***] FIRST COMMERCIAL SALE. In the event LIPOXEN and BAXTER [***] as to whether such THIRD PARTY PRODUCT infringes a VALID PATENT CLAIM, then
[***] LIPOXEN [***] when and if LIPOXEN elects to bring an action against such THIRD



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|------------------ |  | -------------------------- |  | ---------------------------
|FROM : [ILLEGIBLE] |  | PHONE NO. : 00442076811314 |  | 13 DEC. 2006  01 : 59 PM P3



PARTY PRODUCT asserting that such THIRD PARTY PATENT infringes a VALID PATENT CLAIM. In the
event LIPOXEN action then [***] All capitalized terms used herein which are not specifically defined in this Amendment shall have the meaning [ILLEGIBLE] forth in the R&L AGREEMENT.



|5. | The remaining terms of the R&L AGREEMENT shall remain in full force and [ILLEGIBLE].
|-- | ------------------------------------------------------------------------------------



|6. | This Amendment may be executed in more than one counterpart, each of which constitutes an original and [ILLEGIBLE] of which together shall constitute one enforceable agreement. For purposes of this Amendment and
any other document required to be delivered pursuant to this Amendment, [ILLEGIBLE] of signatures shall be deemed to be original signatures. In addition, if any one of the PARTIES sign facsimile copies of this Amendment, such copies shall be
deemed originals
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

IN WITNESS WHEREOF, the PARTIES hereto have caused their authorized representatives to execute this Amendment by signing
below:



|                      |  |  |  |                               |  | 
|--------------------- |  |  |  | ----------------------------- |  | 
|Signed:               |  |  |  |                               |  | 
|For and on behalf of: |  |  |  | For and on behalf of:         |  | 
|Lipoxen               |  |  |  | Baxter Healthcare Corporation |  | 



|          |  |                      |  |  |  |           |  |                                                |  | 
|--------- |  | -------------------- |  |  |  | --------- |  | ---------------------------------------------- |  | 
|Signature |  | /s/ M. Scott Maguire |  |  |  | Signature |  | /s/ Joy A. Amundson                            |  | 
|Name:     |  | M. Scott Maguire     |  |  |  | Name:     |  | Joy A. Amundson                                |  | 
|Title:    |  | CEO                  |  |  |  | Title:    |  | Corporate Vice President, President
BioScience |  | 
|Signed:   |  |                      |  |  |  |           |  |                                                |  | 



|                      |  |  |  | 
|--------------------- |  |  |  | 
|For and on behalf of: |  |  |  | 
|BAXTER HEALTHCARE SA  |  |  |  | 

|          |  |                                       |  |  |  |  |  |                                              |  | 
|--------- |  | ------------------------------------- |  |  |  |  |  | -------------------------------------------- |  | 
|          |  |                                       |  |  | 
|Signature |  | /s/ F. de Freine                      |  |  |  |  |  | /s/ Rebecca Binggeli                         |  | 
|Name:     |  | F. de Freine                          |  |  |  |  |  | Rebecca Binggeli                             |  | 
|Title:    |  | Finance Director Baxter Healthcare SA |  |  |  |  |  | Director of Tax, Europe Baxter Healthcare
SA |  | 

Dec. 13, 2006