Exhibit 10.52


    EXHIBIT
      10.52

     

    


    EXECUTIVE
      COMPENSATION ARRANGEMENTS

    


    Each
      year,
      the Compensation Committee of the Board of Directors considers whether to alter
      the base salary of our executive officers. In addition, the Compensation
      Committee determines whether to award our executive officers a bonus and/or
      a
      grant of restricted stock or stock options for the fiscal year, based on
      pre-established individual and corporate performance objectives.

    


    Listed
      below are the salaries for our executive officers for fiscal 2006. Except as
      noted below for Harvey J. Berger, M.D., salaries for fiscal 2007 as well as
      bonuses and equity compensation in respect of fiscal 2006 have not yet been
      determined. 

    


    
      	 	 
	 	 	
              2006

            
	
              Executive
                Officer

            	 	
              Salary

            
	 	 	 
	
              Harvey
                J. Berger, M.D. 

            	 	
              $
                544,000 

            
	
              Chairman
                of the Board of Directors,

              Chief
                Executive Officer and President

            	 	 
	
              Laurie
                A. Allen, Esq.

            	 	
              $
                309,000

            
	
              Senior
                Vice President, Legal and Business

              Development,
                Chief Legal Officer and Secretary

            	 	 
	
              David
                L. Berstein, Esq.

            	 	
              $
                309,000

            
	
              Senior
                Vice President, Chief Patent Counsel

            	 	 
	
              Timothy
                P. Clackson, Ph.D.

            	 	
              $
                309,000

            
	
              Senior
                Vice President, Chief Scientific Officer

            	 	 
	
              Edward
                M. Fitzgerald

            	 	
              $
                309,000

            
	
              Senior
                Vice President, Finance and Corporate Operations, Chief Financial
                Officer
                and Treasurer

            	 	 
	
              John
                D. Iuliucci, Ph.D.

            	 	
              $
                309,000

            
	
              Senior
                Vice President, Chief Development Officer

            	 	 
	
              Camille
                L. Bedrosian, M.D.

            	 	
              $
                309,000

            
	
              Vice
                President, Chief Medical Officer

            	 	 
	
              Richard
                W. Pascoe 

            	 	
              $
                275,000

            
	
              Vice
                President, Chief Commercial Officer

            	 	 
	 	 	 


    

    


    On
      March
      6, 2007, upon recommendation of the Compensation Committee, the Board approved
      compensation for Harvey J. Berger, M.D. Dr. Berger’s annual base salary was
      increased from $544,000 in the fiscal year ended December 31, 2006 to $576,000
      in the fiscal year ending December 31, 2007, effective January 1, 2007. Also,
      Dr. Berger was awarded 64,000 shares of the Company’s common stock and options
      to purchase 240,000 shares of the Company’s common stock, both under the
      Company’s 2006 Long Term Incentive Plan. The stock options have a term of ten
      years, vest 25% annually over four years, and have an exercise price of $4.64
      per share, the closing price per share of the Company’s common stock on March 6,
      2007.