**Exhibit10.30.2**

 

**Summary of TermsCollaboration Agreement and Technology License**

 

July 1, 2002

 

This Summary of Terms summarizes the priordiscussions between Advanced Cell Technology, Inc. (“ACT”) and FleniFoundation (“Fleni”) and sets forth generally the terms and conditions of apossible transaction under which ACT and Fleni would enter into a collaborativeresearch effort and non-exclusive license of certain intellectual property andpatent applications, on the terms and conditions set forth below.  Neither ACT nor Fleni will be obligated toconsummate the transaction until the execution of mutually acceptabledefinitive documentation, as described below, provided, however,that certain provisions hereof are binding.

 
| **Research  Scope and Objective:** | ** ** | Identify commercially viable  procedures to manufacture dopaminergic neurons from primate embryonic stem cells;                                                                                                                                                                                                                                                               |
|------------------------------------|------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                               | ** ** | **•****       **Identify differentiation pathways and establish  protocols for differentiation.                                                                                                                                                                                                                                       |
| ** **                         | ** ** | •        Conduct pre-clinical studies for  Parkinson’s Disease in animal models.                                                                                                                                                                                                                                                 |
| ** **                         | ** ** | ** **                                                                                                                                                                                                                                                                                                                                                                    |
| **Fleni Obligations:**             | ** ** | Fleni will supply laboratory  facilities, approximately 2000 sq feet, up to $ 500,000 start up equipment,  three permanent positions (one Principal Investigator with PhD level and at least  two years of postdoctoral training, and two technicians or post-doctoral fellows.  An annual operating budget (annual  programmatic support) of up to $ 100,000. |
| ** **                         | ** ** | ** **                                                                                                                                                                                                                                                                                                                                                                    |
| **ACT Obligations:**               | ** ** | ACT will transfer Cyno-1  cells and know-how to Fleni.                                                                                                                                                                                                                                                                                                                        |
| ** **                         | ** ** | ** **                                                                                                                                                                                                                                                                                                                                                                    |
| **Joint  Research****Committee:**  | ** ** | The parties shall form a  joint research committee with two representatives from ACT and two  representatives from Fleni.                                                                                                                                                                                                                                                     |
| ** **                         | ** ** | ** **                                                                                                                                                                                                                                                                                                                                                                    |
| **Termination:**                   | ** ** | Either party shall have  the right to terminate this Summary of Terms upon 1 month’s notice.                                                                                                                                                                                                                                                                             |
| ** **                         | ** ** | ** **                                                                                                                                                                                                                                                                                                                                                                    |
| **Licensed Property:**             | ** ** | ACT will license to Fleni  the intellectual property outlined in Exhibit A on a non-exclusive  basis.                                                                                                                                                                                                                                                                    |
| ** **                         | ** ** | ** **                                                                                                                                                                                                                                                                                                                                                                    |
| **Field:**                         | ** ** | Human cell therapy.                                                                                                                                                                                                                                                                                                                                                           |
| ** **                         | ** ** | ** **                                                                                                                                                                                                                                                                                                                                                                    |
| **Territory:**                     | ** ** | Argentina.                                                                                                                                                                                                                                                                                                                                                                    |
| ** **                         | ** ** | ** **                                                                                                                                                                                                                                                                                                                                                                    |
| **Term:**                          | ** ** | For the duration of the  patents.                                                                                                                                                                                                                                                                                                                                             |

 

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| **Innovations:**                   | ** ** | Intellectual property developed  under the research collaboration will be the joint property of Fleni and ACT.   Fleni shall have the right to use any  innovations within the Field and within the Territory for no additional  consideration.  ACT shall have the exclusive  licensing rights for other application areas and for areas outside the  Territory.  All patent prosecution  costs shall be borne by [...]                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|------------------------------------|------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ** **                         | ** ** | ** **                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| **Commercialization  Milestones:** | ** ** | The definitive agreements  shall contain commercialization milestones to be agreed upon between the  parties.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| ** **                         | ** ** | ** **                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| **Upfront  fee:**                  | ** ** | $500,000 due upon signing                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| ** **                         | ** ** | ** **                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| **Royalty  Rates:**                | ** ** | Fleni shall pay royalty on  Net Sales to ACT according to the following schedule:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| ** **                         | ** ** | •        8% of Net Sales up to $50 million per year

•        15% of Net Sales between $50 and $ 100 million  per year.

•        30% of Net Sales on sales over $100 million  per year                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| ** **                         | ** ** | ** **                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| ** **                         | ** ** | No minimum royalties                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| ** **                         | ** ** | ** **                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| **Confidentiality:**               | ** ** | The terms and conditions  of this term sheet, including its existence, shall be confidential  information and shall not be disclosed to any third party by Fleni without ACT’s  prior approval.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| ** **                         | ** ** | ** **                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| **Commitment  Status:**            | ** ** | Except for the sections  above entitled “Upfront Fee,” “Royalty Rates” and “Confidentiality,” (i) this  Summary of Terms is not contractual in nature and reflects only the  intentions of the parties to proceed toward the negotiation of definitive  agreements and, if such agreements are executed, the consummation of the  transaction described herein; (ii) no party will have any obligation to  any other party hereunder and the parties will have only those obligations,  and will make only those representations, warranties and covenants as may be  set forth in definitive agreements which are signed and delivered. Except as  expressly set forth in this Summary of Terms, no party will have any obligation  or liability based upon or arising under this Summary of Terms to any other  party by reason of the fact that a definitive agreement is not prepared,  authorized, executed or delivered. |
| ** **                         | ** ** | ** **                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| ** **                         | ** ** | To confirm the foregoing  accurately memorializes our previous discussions and to indicate the parties’  agreement to the provisions of the sections above entitled “Upfront Fee,”  “Royalty Rates” and “Confidentiality,” the parties have signed this Summary  of Terms as of July 1 2002.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |

 

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| Agreed and Accepted:              |   |                                |   |
|-----------------------------------|--------|-------------------------------------|--------|
|                              |   |                                |   |
| Fleni Foundation                  |   | Advanced Cell Technology, Inc. |   |
|                              |   |                                |   |
| By:                               |   | By:                                 |   |
|                              |   |                                |   |
|                              |   |                                |   |
| /s/ Ramón C.  Leiguarda |   | /s/ Michael West                    |   |
|                              |   | Michael West                        |   |
|                              |   | Chief Executive Officer             |   |
| Ramón C. Leiguarda           |   |                                |   |
| Name                              |   | July 1, 2002                        |   |
|                              |   | Date                                |   |
| President, FLENI                  |   |                                |   |
| Title                             |   |                                |   |
|                              |   |                                |   |
| 07/01/2002                        |   |                                |   |
| Date                              |   |                                |   |

 

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