**Exhibit 10.25**

**June 21, 2001**

DavidWaldekChief Financial OfficerAlbany Molecular Research Inc.21 Corporate CircleP.O. Box 15098Albany, 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”)** |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

DearDavid:

Thisletter (“Letter”) will serve to confirm the mutual release and termination ofthe Agreement between IntraBiotics and AMRI as reflected in your email of June11, 2001.  Capitalized terms containedin this Letter shall have the meaning set forth in the Agreement.

IntraBioticsand AMRI hereby agree to terminate the Agreement in accordance with the termsof this Letter.  Effective upon paymentby IntraBiotics to AMRI of the sum of $300,000, which payment shall be made onor before July 31, 2001, IntraBiotics shall fully and forever discharge all ofits obligations under the Agreement, including but not limited to any claim tothe Technology Access Fee, and such Agreement shall be terminated providedhowever, that the confidentiality obligations set forth in Article 7 shallsurvive such termination according to their terms.  IntraBiotics’ payment of $300,000 shall be in addition to thoseamounts previously paid to AMRI under the Agreement.

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

Ifthe foregoing is acceptable to AMRI, please sign where indicated below andreturn one copy of this letter bearing your original signature to theundersigned.

Very truly yours,

 
| /s/  KENNETH J. KELLEY         |                            |   |   |
|-------------------------------------|---------------------------------|--------|--------|
|                                     |                            |   |   |
| Kenneth J. Kelley                   |                            |   |
| President and CEO                   |                            |   |
| IntraBiotics  Pharmaceuticals, Inc. |                            |   |
|                                |                            |   |   |
| Agreed and accepted:                |                            |   |
|                                |                            |   |   |
|                                |                            |   |   |
| By:                                 | /s/  DAVID WALDEK          |   | Date:  | 6/22/01 |
|                                |                                 |   |   |
|                                | David P. Waldek                 |   |   |
|                                | Chief Financial  Officer   |   |   |
|                                | Albany Molecular  Research Inc. |   |   |
|                                     |                                 |        |        |  |  |  |