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Exhibit 10.22
   
  th
 BASE SALARY:
    
    You will receive a base salary of $3,854.17 paid
semi-monthly in accordance with the normal Anadys
payroll cycle, which if annualized, amounts to
$92,500 per year.STOCK OPTIONS:
    
    Upon commencement of your employment with Anadys and subject to
the approval of the Board of Directors, you will be eligible for an initial
stock option grant allowing you to purchase 35,000 shares of Anadys common
stock at a price established by the Board. These stock options vest over a
four-year period and are subject to the terms and conditions outlined in the
Anadys Stock Options Plan. You will be provided full details of the Stock
Option Plan once you are on board.BENEFITS:
    
    As a regular, full-time employee of Anadys you will
be eligible for group benefits for yourself and your
eligible dependents, effective on the first day of
the month following your date of hire. Basic benefits
include comprehensive health insurance, dental
insurance, and vision care insurance. In addition,
you will be eligible for term life insurance and
long-term disability insurance for yourself only.As you requested, and as an exception to standard
Anadys policy, you will receive five weeks of paid
vacation for calendar year 2001, which is intended to
accommodate your planned activities currently
schedules for June and October / November. Effective
January 1, 2002, you will begin accruing vacation at
the standard Anadys rate, which is currently three
weeks per year. You will also receive the benefit of
a minimum of ten paid holidays per year, all in
accordance with Company policy.Effective on the first day of the quarter following
your hire date, you will be eligible to participate
in the Anadys 401(k) Retirement Savings Plan.




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  Page 2
 Also,
effective on your date of hire, you will be eligible
to participate in the Anadys Flexible Benefits Plan
which allows you to defer some of your earnings
pre-tax, into spending accounts to be used
for payment of un-reimbursed medical and/or eligible child care expenses. You
will be asked to contribute a portion of the cost of your own insurance
coverage and any dependent coverage you elect. The cost of coverage will vary
based upon the number of dependents covered and your individual plan selection.
However, any premiums you pay will be paid pre-tax. A benefit summary is
enclosed for your review. Full details of these and all other employee benefits
will be provided once you are on board.VISA:
    
    Anadys will initially bring you on board on a TN
Visa. Immediately upon your acceptance of this offer,
we will begin the application process for an H-1b
Visa for yourself and an H-4 Visa for your husband.
Anadys will also sponsor you and your family for
permanent residence (green cards) as soon as
administratively feasible after the H visas are in
place. You will be expected to provide all necessary
information and documentation required to expedite
all of the processes. The Company will pay reasonable
legal and application fees associated with your
permanent resident status, but in the event that you
voluntarily terminate your employment with Anadys or
are terminated for cause within on year of your
receipt of your green card, you will be required to
reimburse Anadys for all fees paid on your behalf.SIGN-ON BONUS:
    
    As a further incentive for you to join Anadys, you will be given
a one-time signon bonus of $5,000, less applicable employment taxes. This
bonus will be paid shortly before your hire date. Should you leave the Company
within one year of your hire date, you will be required to reimburse Anadys for
this sign-on bonus within thirty days after your termination date.RELOCATION:
    
    In order to assist you in your move from Canada to
the San Diego area, you will be eligible for the
relocation benefits, in accordance with Company
policy, which include the cost of packing and moving
your household goods and up to two vehicles;
reasonable closing costs on the purchase of a new
home in the San Diego area; transportation costs for
you and your family on your final move date;
temporary housing in San Diego for up to 60 days.
Should you voluntarily terminate your employment or
be terminated for cause within one year of your hire
date, you will required to reimburse Anadys for all
relocation benefits within thirty days of your
termination date.Should you voluntarily terminate your employment or
be terminated for cause within one year of your hire
date, you will required to reimburse Anadys for all
relocation benefits within thirty days of your
termination date.EMPLOYMENT
AT WILL:
    
    Anadys is an at-will employer and as such your
employment must be entered into as voluntarily and
for no specified period. As a result, you are




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  Page 3
 free to
resign or the company may terminate your employment
at any time, for any reason, with or without cause.
No one other than the President and CEO has the
authority to alter this employment relationship,
either verbally or in writing.
   th
  
 /s/
Diana De
Walt
 
  /s/ Mary Yaroshevsky-Glanville
    
    March 8, 2001Mary Yaroshevsky-Glanville
    
    Date