Yissum
Research Development Company


of
the Hebrew University of Jerusalem


Edmond
Safra Campus,


Givat
Ram, POB 39135


Jerusalem
91390


Israel


 


Re:
Third Extension of Agreement for rendering of Services


 


We
do hereby refer to the Agreement for the Rendering of Services dated as of June 20, 2005 (the "Service Agreement")
and the extension thereto dated as of June, 20 2006 ("Extension of Agreement for Rendering of Services") (jointly
with the Services Agreement, the "Extended Service Agreement") and the second extension thereto dated as of December
19, 2006 ("Second Extension of Agreement for Rendering of Services") and the License Agreement dated November
27th, 2002 (the "License Agreement") all executed by and between Yissum Research Development Company
of the Hebrew University of Jerusalem ("Yissum") and Morria Biopharmaceuticals, Inc. (the "Company").


 


Unless
the context otherwise requires, all capitalized terms used herein shall have the meaning ascribed to them in the Service Agreement.


 


The
Company does hereby request that, further to Yissum tasks and services pursuant to the Extended Service Agreement and the Second
Extended Service Agreement, and fully completed and performed by Yissum, Yissum performs the additional tasks and services set
forth on Appendix A hereto (the "Additional Services"). All of such Additional Services shall be included in the
scope of the definition of Services under the Service Agreement, and shall be performed in accordance with the timetable set forth
on Appendix A hereto. In consideration, the Company shall pay Yissum an additional amount, of $ 90,000 (plus VAT) (the "Additional
Service Fee") payable in quarterly payments from the signing of this Letter of Extension and according to the following
schedule:


i. $
22,500 plus VAT within fourteen (14) days of signing this Agreement.


ii. $
22,500 plus VAT on September 15, 2007.


iii. $
22,500 plus VAT on December 18, 2007 and


iv. $
22,500 plus VAT on March 15, 2008.


 


All
terms and conditions as set out in the Service Agreement shall apply mutatis mutandis in respect of the Additional Service
Fee and the Additional Services as defined under this Third Extension of Agreement for Rendering of Services, including without
limitation, the extension of the right and license to the Company of the Service Agreement Results, such to include the Additional
Services (as defined herein).


 



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Your
signature on this copy of the document shall constitute your approval and agreement to all that is written herein.


 


Yours
sincerely,


 


	MORRIA BIOPHARMACEUTICALS PLC.	 
	 	 	 
	/s/ YUVAL COHEN	 	 
	 	 	 
	By: Yuval Cohen	 	Date: June 10, 2007
	 	 	 
	Title: Managing Director, Morria	 	 
	 	 	 
	/YISSUM STAMP/	 	 
	 	 	 
	We hereby agree and approve:		 
	 	 	 
	/s/ ELENA CANETTI	 	 
	 	 	 
	By: Elena Canetti	 	Date: June 10, 2007
	Title: VP Scientific Services Yissum	 	 
	 	 	 
	/s/ NAVA SWERSKY SOFER	 	 
	 	 	 
	By: Nava Swersky Sofer	 	Date: June 17, 2007
	Title: CEO Yissum	 	 


 


 



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APPENDIX
A


 


Research
Program for Morria Biopharmaceuticals Plc


 


Proposed by Prof.
Saul Yedgar of the Dept of Biochemistry, Hebrew University Medical School, Jerusalem


 


Aim


 


Exploring
mechanisms of inflammatory processes and the therapeutic potential of MFAIDs in in vitro and in vivo models.


 


Scope


 


		1.	Exploration of inflammatory mechanisms and their control
in in vitro and in vivo experimental systems.



 


		2.	Testing of MFAID candidates for their potential in treating inflammatory/allergic
conditions: IBD, cancer, asthma, skin inflammation, eye inflammation, wound healing, viral infections and CNS.



 


		3.	Continuing the chemical characterization and optimization of MFAIDs.



 


		4.	Setting up new in vivo and in vitro models for testing
MFAIDs on inflammatory/allergic diseases.



 


Outcomes


 


		·	Data on efficacy of various MFAIDs in the above-mentioned disease
fields.



		·	Optimization of selected MFAID synthesis,



 


Research
Period: 12 months.


 


Budget:
up to $90,000 total (including overhead) to be paid in quarterly payments.




 






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