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                                                                   Exhibit 10.23

                                                          Unofficial translation


LEASE AGREEMENT


LESSOR                Turun Biolaakso Oy
                      Lemminkaisenkatu 14-18 A, 20520 Turku
                      Business ID 1485010-2
                      Domicile Turku

LESSEE                Hormos Medical Oy
                      Tykistokatu 6 A, 20520 Turku
                      Trade reg. no. 705.643
                      Domicile Turku


LEASE OBJECT

Location              Kiinteisto Oy Pharma City (Real estate company)
                      Itainen Pitkakatu 4, 20520 Turku

Premises              7th floor, about 2467 m(2)
                      In addition 40 parking spaces

                      The premises to be leased will be assigned to the lessee
                      in such a condition as described in the floorplan
                      (appendix 1) and in the space descriptions (appendix 2).
                      However, technical arrangements in the laboratories (fume
                      hoods, water and pneumatic appliances, cold-storage rooms)
                      will be included in the rent only as reservations for such
                      systems. Laboratory furniture is not included in the rent.

                      The premises are leased for use as approved by the
                      authorities.


TERMS FOR THE LEASE AGREEMENT

1 Rental period

                      The tenancy begins when the premises meant for the
                      lessee's use have been completely finished as far as the
                      building work on the builders responsibility is concerned
                      and the premises have been assigned to the lessee approved
                      by the authorities. The assignment time for furnishing
                      purpose according to the target timetable is on 30
                      November 2001.

                      The tenancy ends on the last day of that calendar month
                      during which 10 years have passed from the beginning of
                      the tenancy on condition that the lease agreement has been
                      called in a month earlier. After this the lease agreement
                      can be called in on a 12 months notice on the last day of
                      each calendar month.

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                                                          Unofficial translation

2 Amount of rent and payments

                      The obligation for rental payments begins after the
                      premises have been assigned to the lessee.

                      Basic rent for the premises is FIM 64.00 (EUR 10.76) per
                      m(2) per month.

                      Rent for the parking space is FIM 250 (EUR 42.05) per
                      month.

                      During the rental period effect on the rent of the
                      expenses from basic improvements and modifications by the
                      lessor will always be agreed on separately before the work
                      is done.

                      The rent will be paid beforehand to the lessor's bank
                      account monthly by the 2nd day of each month. When the
                      payment is delayed the lessee will pay default interest on
                      the delayed amount according to the Interest Act.

                      In this agreement rent means the amount of rent without
                      value added tax. The lessor will become obliged to the
                      value added tax after which VAT will be added to the rent
                      according to valid tax base.

                      The lessee is responsible for the matter that the premises
                      of this agreement are used for activities obliged to
                      taxation. If the lessor has to make return payments on VAT
                      deductions due to lessee's activities or neglecting, the
                      lessee is obliged to reimburse lessor's financial loss.

3 Increase in rent

                      Base rent and possible additional rent are fixed to
                      changes in the cost-of-living index (1951:10=100). For
                      base rent the base index is the index value of February
                      1999 and for possible additional rent the index value is
                      the value of the month of completion of the building.

                      The first rent will be checked on the basis of the index
                      value of the completion moment for the period of
                      completion of the object - 30 June 2002. After this the
                      rent will be check twice annually on 1 January and 1 July.
                      The rent will be increased on the mentioned dates in the
                      same proportion as the index values in November and May
                      are higher than the base index.

                      In case the cost-of-living index decreases, the amount of
                      the rent will not be reduced, however.

                      In case the above cost-of-living index cannot be applied
                      in the future, the rent will be checked equally according
                      to a principle that

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                                                          Unofficial translation

                      is generally used in the business and according to the
                      above principle.



4 Maintenance of the real estate

                      The lessee is alone responsible for all the usage and
                      maintenance expenses of the premises that he holds, for
                      example heating, cooling, water, sewage, electricity,
                      cleaning and waste disposal. The lessee is also
                      responsible for the maintenance expenses of the common
                      premises and systems serving the whole real estate and the
                      outside areas including property electricity, property
                      insurance and real estate tax for the surface mentioned in
                      this agreement and also in proportion of all rented
                      surface.

                      The lessee is responsible for the maintenance and service
                      of the machinery and equipment he has acquired. In
                      addition the lessee is responsible for the maintenance of
                      fire safety of the rented space in a way accepted by the
                      authorities and fire insurance company. Furthermore, the
                      lessee is responsible for new taxes or fees that a public
                      authority has determined for real estate, property holding
                      or maintenance or directly or indirectly concerning the
                      leasing business after signing of this lease agreement in
                      a proportion to the rented area.

                      The lessee will make agreements and insurances on
                      electricity, data communications, tele service, cleaning,
                      waste disposal, security etc. concerning the rented space
                      and will cover their expenses.

                      In case the lessee neglects to take care of necessary
                      maintenance work in the premises, the lessor has the right
                      to have this work done at lessee's expense. Repairing and
                      maintenance responsibility have been notified in the
                      amount of the rent and the lessee has no right for
                      reimbursement due to this in the end of the tenancy.

                      The lessee is responsible for taking proper care of the
                      premises and for ensuring that the users of the premises
                      will follow the regulations in the real estate and other
                      orders associated with the premises and what has been
                      otherwise defined for maintaining health, tidiness and
                      order. The lessee is to make sure that the activities
                      follow the terms in decrees, orders and authorizations.

                      The lessor is responsible for construction repairing in
                      the building and equipment at his expense, however, not
                      for repairing and renewals due to usage and wear and tear.

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                                                          Unofficial translation

5 Damages

                      The lessee is responsible for that harm and damage that
                      using the lease object might cause to a third party
                      despite that harm and those damages that are covered by
                      the liability insurance of the real estate.

                      The lessor is not responsible for limitations, shortages
                      or irregularities in distributions of heat, electricity or
                      water or damages caused by them that are not dependent on
                      the lessor or real estate or holding company.

                      The lessor is not responsible for leakage, blockage in
                      sewage or any other reason that has caused damage to the
                      lessee's activities, property or property of a third party
                      located in the rented premises unless the damage is caused
                      by lessor's negligence.


6 Building and modification work

                      The lessee has the right to modify fixed constructions or
                      technical systems in the premises after having informed
                      the lessor beforehand. Constructional modifications need
                      lessor's or authorities' approval. The lessor cannot deny
                      lessee's modifications that have been approved by
                      authorities without a particularly weighty reason.

                      Modifications have been notified in determining the rent
                      and they will not be reimbursed to the lessee in the end
                      of the tenancy.

                      Fixed parts of the modifications done by the lessee will
                      become lessor's property without a separate compensation
                      in the end of the tenancy unless otherwise agreed in
                      written. The lessee has a right to remove all furniture,
                      machinery and equipment he has bought and assembled in the
                      rented premises on condition that the lessee will fix all
                      caused marks and damaged in a way that the lessor has
                      approved.


7 Commercial appliances of the lessee

                      The lessee can attach commercial signs and lights in the
                      building after having received necessary official
                      authorizations.

                      After the tenancy the lessee is obliged to remove the
                      commercial signs and lights he has assembled and has to
                      fix all marks and damaged that have been caused to the
                      building.

                      Lessor's orders have to be followed when attaching the
                      equipment.
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                                                          Unofficial translation

8 Transfer of the lease and subleasing

                      The lessee cannot transfer the lease to a third party
                      without lessor's written authorization. However, the
                      lessee has a right to transfer the lease to its
                      subsidiary.

                      The lessee has a right to sublease the premises after
                      having received lessor's written authorization. However,
                      in a sublease situation the lessee is still obliged to the
                      terms of this agreement also as far as the subleased
                      premises are concerned.

                      In a case where subleasing causes a situation that the
                      lessor cannot make deductions on value added tax or has to
                      return already deducted value added tax, the lessee that
                      is mentioned in this agreement is responsible to the
                      lessor for those efforts.

9 Temporary disturbances

                      The lessee is not entitled to have rent reduction or
                      compensation from the lessor or from the property or
                      holding company in case of temporary disturbances in
                      water, sewage, heat or electricity compliances or in cases
                      of breaks in distribution which are necessary to the
                      building.

                      The lessor is entitled to have normal maintenance work
                      done at his own expense in the building during the
                      tenancy. The lessee has no right to compensation from the
                      time that is spent for this kind of work. The lessor is
                      obliged to inform the lessee beforehand and agree on the
                      moment of work with the lessee.

10 Premises in the end of tenancy

                      In the end of the tenancy the lessee has to assign the
                      premises to the lessor in the same condition they were in
                      the beginning of the tenancy outside normal wear and tear
                      unless otherwise agreed on in written or there is a
                      different agreement as far as the modification work is
                      concerned.

                      There will be a common inspection in the premises in the
                      end of the tenancy. Those defects and faults that have
                      been notified in the inspection and which are not due to
                      normal tear and wear will be fixed by the lessee
                      immediately. The lessee will be released from the
                      reparation obligation as far as the notified defects and
                      faults concerned have been caused by the lessor's
                      activities.

11 Environment damages

                      If pollution caused during the tenancy is notified,
                      cleaning in the extent demanded by the authorities will be
                      done at the lessee's expense.

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                                                          Unofficial translation

12 Other orders

                      After signing of this agreement all other possible
                      agreements, memos and minutes of meetings between the
                      lessee and the lessor that concern this agreement or
                      changes, amendments or additions to this agreement must be
                      attached numbered to the enclosures of this agreement.

                      Otherwise law on renting business premises will be
                      applied.

13 Solving disputes

                      All disputes arising from this agreement will be solved
                      through negotiation if only possible. In case no unanimity
                      can be found through negotiation, the dispute will be
                      dealt with in the District Court of Turku.

Two word-for-word copies of this agreement have been written, one for each party
of the agreement.

Turku, 15 November 2001


TURUN BIOLAAKSO OY         Juhani Leppa

HORMOS MEDICAL OY          Risto Lammintausta