exhibit_4-24.htm










Exhibit 4.24


 


Amendment 14 to Agreement dated 26th Dec’08 signed by and between


Dr. Reddy’s Laboratories Limited


Bollaram Road, Miyapur,


Hyderabad 500 049


India


(Hereinafter referred to as “Dr. Reddy’s”)


and


Prana Biotechnology Ltd


Level 2, 369 Royal Parade, Parkville Victoria, 3052


Australia


(Hereinafter referred to as “Prana”)


Dr. Reddy’s and Prana are collectively referred to as the “PARTIES”


 








 


This amendment will include the following additional and amended clauses in the above mentioned Agreement (plus amendments) and will be in effect from 18 September 2012.


 



	1.	Terms to be included
	i.	The following new clause-12 in Appendix A of the Agreement;





 


“13. Sub-Project 5E: Storage of Crude PBT2 (obtained in Sub-Project 5C) under cold storage cGMP conditions



 



	 	
a)

	
Dr. Reddy’s laboratories will store the Crude PBT2 obtained in Sub-Project 5C under cold storage cGMP conditions for a period of 1 year from the 18 September 2012


	 	
b)

	It is agreed that within this period Prana will either utilize the Crude PBT2 for further recovery of pure PBT2 or request for further storage or dispose the material at its own cost.
	 	
c)

	
Dr. Reddy’s will retest this residue by HPLC and Assay at the beginning of each six months-period, i.e twice during the period of this agreement.


	 	
d)

	If Prana decided to dispose this material or ship to any location, complete cost of shipment/disposal will be borne by Prana under a separate sub-project.”







 



	ii.	The following description of new Sub-Project 5E under Sub-Project Pricing in clause 3 of the Agreement
	 	 
	 	“Sub-Project 5E: Storage of Crude PBT2 under cGMP conditions - USD 2,800/-”
	 	 
	iii.	The following description of new Sub-Project payment terms in clause 3 of the Agreement
	 	 
	 	“Sub-Project 5E:





 





 




 





Page 1 of 1











 






 


 



	 	●	50% upon completing 6 months of storage and sharing of the final report for the first retest to Prana (USD 1,400/-)”
	 	●	50% upon completing 12 months of storage and sharing of the final report for the second retest to Prana (USD 1,400/-)”
	 	●	Prana will make the payment every six month or ending of the contract whichever is earlier.





 




	2.	Terms to be varied
	 	 
	i.	The current numbering of the following clause heading in Appendix A of the Agreement, as amended in Amendment 13:





 




“13. Sub-Project 6: Stability Study (48 months)”


 


is amended as follows


 


“14. Sub-Project 6: Stability Study (48 months)”


 


All other terms and conditions of the original Agreement dated 26th Dec’08 and those included in Amendments 1 to 12 remain unchanged.


 


In witness whereof, the parties hereto have signed this Agreement


 



	
Signed for and on behalf of 

	
Signed for and on behalf of


	
Dr. Reddy’s Laboratories Limited 

	
Prana Biotechnology Ltd.







 



	
Signature  

	
Signature  


	
Name: Manoj Mehrotra

	
Name: Dianne Angus







 



	
Witness Signature  

	
Witness Signature  


	
Witness Name: Animesh Kondiparthy

	
Witness Name: E. Gautier







 





 




  





Page 2 of 1











  






 



 


Amendment 15 to Agreement dated 26th Dec’08 signed by and between


Dr. Reddy’s Laboratories Limited


Bollaram Road, Miyapur,


Hyderabad 500 049


India


(Hereinafter referred to as “Dr. Reddy’s”)


and


Prana Biotechnology Ltd


Level 2,369 Royal Parade, Parkville Victoria, 3052


Australia


(Hereinafter referred to as “Prana”)


Dr. Reddy’s and Prana are collectively referred to as the “PARTIES”



	  





 


This amendment will include the following additional and amended clauses in the above mentioned Agreement (plus amendments) and will be in effect from           2013.



	  	  
	
1.

	
Terms to be included


	
i.

	
The following new clause in Appendix A of the Agreement:







 


“15. Sub-Project 6B: Extension of stability testing on IDT batch number-DA1020702.1 (as completed under Sub-Project 6A) to include a 48 months timepoint.



	  	  
	
a)

	
Dr. Reddy’s will perform the following tests upon pulling the sample after 48 months stability at 25°C/60%RH.


	  	  
	
●

	
Description


	
●

	
Identification by HPLC/FT-IR


	
●

	
Assay by HPLC


	
●

	
Related substances by HPLC


	
●

	
Related substances by LC-MS and GC


	
●

	
Water content by KF


	  	  
	
b)

	
Dr. Reddy’s will provide a stability report upon completion of stability study for 48 months.


	  	  
	
ii.

	
The following description of new Sub-Project 6B under Sub-Project Pricing in clause 3 of the Agreement


	  	  
	  	
“Sub-Project 6B: Stability testing of IDT batch number- DA1020702.1. at 48 months timepoint at 25°C/60%RH - USD 5,000/-”







 









  





Page 1 of 2











  









 



	iii.	The following description of new Sub-Project 6B payment terms in clause 3 of the Agreement 
	 	 
	 	“Sub-Project 6B:
	 	 	 
	 	●	100% upon completion of 48 months of stability of IDT batch number-DA1020702.1. at 25°C/60%RH and sharing the final report (USD 5000/-)”








 




All other terms and conditions of the original Agreement dated 26th Dec’08 and those included in Amendments 1 to 14 remain unchanged.


 


In witness whereof, the parties hereto have signed this Agreement



 



	
Signed for and on behalf of

	
Signed for and on behalf of


	
Dr. Reddy’s Laboratories Limited

	
Prana Biotechnology Ltd.







 





	
   

Signature

	
Signature   1 May 2013


	
Name: Manoj Mehrotra

	
Name: Dianne Angus










 





	
Witness Signature   21 May 2013

	
Witness Signature  1 May 2013


	
Witness Name: Animesh Kondiparthy

	
Witness Name: Elisabeth Gautier







 





 


Page 2 of 2