<PAGE>

                                                                   EXHIBIT 10.26

                                                Queen Mary and Westfield College
                                                              Research Agreement

This Agreement is made as of the 8th Day of June 1999 between Queen Mary and
Westfield College of Mile End Road, London El 4NS ("College")and Bioenvision Inc
a Delaware Corporation of 30 Old Rudnick Lane, Dover, Delaware 19901, USA with
offices at Trafalgar House, 11 Waterloo Place, London SW1Y 4AU ("Bioenvision")


WHEREAS:


       Stegram Pharmaceuticals Ltd of 44 Broomfield Drive, Billingshurst, Sussex
       RH14 9TM ("Stegram")has secured certain rights in connection with a
       substance known as Trilostane and as Modrenal and its use in
       pharmaceutical preparations ("Products")

       Stegram has granted Bioenvision a licence to manufacture and market
       Products

       The College has expertise in the evaluation of oestrogen receptors

       The College has been conducting a programme of research in support of
       Stegram's plans to develop and market Products ("Programme I")

       Bioenvision wishes the College to continue and expand Programme I in
       support of its plans to manufacture and market Products and wishes the
       results from this further programme of research ("Programme II") to be
       vested in Stegram

       The College is willing to continue and expand Programme I in support of
       Bioenvision's plans to manufacture and market Products



NOW IT IS HEREBY AGREED:


 1.    Definitions

       1.1   Programme II means a programme of research in support of
             Bioenvision's plans to manufacture and market Products which is
             generally described in Appendix 1.

       1.2   Foreground Intellectual Property means all intellectual property
             and results arising from Programme II and Foreground Intellectual
             Property includes any intellectual property arising from Programme
             I and defined as Foreground Intellectual Property in the agreement
             dated 4 July 1997 between the College and Stegram concerning
             Programme I a copy of which is attached to this Agreement for
             reference.

       1.3   Background Intellectual Property means all intellectual property
             existing at the time of this Agreement concerning the Products
             other than intellectual property which has arisen from Programme I
             and defined as Foreground Intellectual Property in the agreement
             dated 4 July 1997 between the College and Stegram concerning
             Programme I a copy of which is attached to this Agreement for
             reference.


                                     1 of 6
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                                                Queen Mary and Westfield College
                                                              Research Agreement


 2.  Programme II

      2.1   Programme II will be directed by Professor G P Vinson (Division of
            Biomedical Sciences) who will be the College's representative for
            all matters concerning Programme II.

      2.2   Should Bioenvision wish to modify Programme II then the College will
            endeavour to incorporate any modification that does not require
            additional resources and should additional resources be required
            then the College will endeavour to make these available subject to
            suitably qualified staff being available and mutual agreement on the
            charges for these resources.

      2.3   Should Professor G P Vinson (Division of Biomedical Sciences) no
            longer be willing to direct Programme II and/or be employed by the
            College then the College will endeavour to appoint a suitably
            qualified successor who is acceptable to Bioenvision and continue
            with Programme II.

      2.4   Should the College and Bioenvision be unable to agree on a successor
            to Professor G P Vinson (Division of Biomedical Sciences) then the
            College will endeavour to assist Bioenvision should it decide to
            make alternative arrangements to continue with Programme II.


 3.  Payments to the College

      3.1   Bioenvision undertakes to pay the College the following sums:

             Commencing on signature of this Agreement the sum of (pound)25,000
             in 4 (four) equal quarterly instalments in respect of consumables
             and laboratory expenses in connection with Objective I of Programme
             II.

             Commencing on the date of appointment 12 (twelve) quarterly
             instalments of (pound)18,750 for services of a Research Assistant
             (Research Assistant I) which includes provision for (pound)2,500
             per quarter for general laboratory services and consumables.

             Commencing on the date of appointment 12 (twelve) quarterly
             instalments of (pound)16,250 for services of a second Research
             Assistant (Research Assistant II) which includes provision for
             (pound)2,500 per quarter for general laboratory services and
             consumables.

      3.2   All payments will be due on presentation of the College's invoice
            and the College reserves the right to add VAT if required to do so.

      3.3   For the avoidance of doubt Bioenvision recognises that the sums
            payable according to this Article 3 are only sufficient to meet the
            estimated labour and direct material costs of Programme II.

      3.4   Should the College become aware that the direct materials costs will
            exceed those provided for in Article 3.1 then it will promptly
            notify Bioenvision of this and the College undertakes not to incur
            any such additional expenditure without the prior approval of
            Bioenvision.

 4.  Reporting

      4.1   The College will provide Bioenvision with quarterly written progress
            reports and a full and complete written report at the end of
            Programme II and Bioenvision agrees that at the request of Stegram
            the College may provide copies of these reports to Stegram.


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                                                Queen Mary and Westfield College
                                                              Research Agreement


      4.2   The College and Bioenvision may discuss experimental results and
            progress of Programme II at reasonable intervals at the request of
            either the College or Bioenvision.

      4.3   At the request of Bioenvision and/or Stegram the College and Stegram
            may discuss experimental results and progress of Programme II at
            reasonable intervals and may do so without reference to Bioenvision.


 5.  Foreground Intellectual Property


      5.1   Bioenvision recognises and understands that under the terms and
            conditions of a separate agreement between the College and Stegram
            all Foreground Intellectual Property is vested Stegram.


 6.  Background Intellectual Property

      6.1   The College has no interest in intellectual property owned and
            possessed by Bioenvision.

      6.2   Except where stated in this Agreement Bioenvision has no interest in
            any intellectual property owned and possessed by the College.


 7.  Publications

      7.1   Bioenvision recognises that the College has a statutory duty to
            freely disseminate results of its research and shall not prevent any
            publication of results arising from Programme II in accordance with
            this duty.

      7.2   Notwithstanding the provisions of Article 7.1 the College undertakes
            to provide Bioenvision and Stegram with a copy of any proposed
            publication and Bioenvision and/or Stegram may require the College
            to delay publication for a period not exceeding six (6) months in
            order to provide adequate time for consideration and protection of
            any intellectual property.

      7.3   No delay required by Bioenvision and/or Stegram according to Article
            7.2 shall prevent Research Assistant II from submitting a thesis for
            examination in accordance with procedures for examination for a
            higher degree of the University of London.


 8.  Use of Results and College Name

      8.1    Except where the information has already been placed in the public
             domain Bioenvision undertakes not to use or publish or authorise
             others to use or publish any information provided by the College
             hereunder or any abstract therefrom in any scientific or
             promotional or marketing or other material in connection with the
             Products without the prior written permission of the College.

      8.2    The College undertakes not to refuse permission according to
             Article 8.1 where the publication as a whole does not distort or
             misrepresent results or views expressed in the original material
             provided to Bioenvision.

      8.3    Nothing in this Agreement shall be interpreted as the College
             endorsing the Products in any way whatsoever.


                                     3 of 6
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                                                Queen Mary and Westfield College
                                                              Research Agreement


      8.4   Nothing in this Agreement shall be interpreted as giving Bioenvision
            or any other party any right or permission to use or to authorise
            others to use the name of the College or its emblem in any way
            whatsoever.

      8.5   Nothing in this Agreement shall be interpreted as giving the College
            or any other party any right or permission to use or to authorise
            others to use the name of Bioenvision or its emblem in any way
            whatsoever.


 9.  Testing of Substances

      9.1   No College employee may authorise the use of any substance in
            clinical trials or any procedures requiring or normally requiring
            ethical or regulatory approval unless specifically stated in writing
            and in accordance with the College's procedures for such approval.


 10. Warranties and Liabilities

      10.1  Bioenvision warrants that at the time of this Agreement it is the
            lawful owner of rights in respect of Products and Background
            Intellectual Property and has permission from Stegram to enter into
            this Agreement.

      10.2  In entering into this Agreement the parties to this Agreement
            recognise and agree that the College is not a party to any agreement
            between Stegram and Bioenvision concerning the subject matter of
            this Agreement.

      10.3  The College will endeavour to undertake Programme II in a
            professional and diligent manner but except in the case of death or
            personal injury arising from negligence of the College accepts no
            liability for any costs or expenses arising from any interpretation
            or reliance that Bioenvision or other parties may place on any part
            of the work product nor offers any warranty that it will solve any
            particular problem.

      10.4  Bioenvision undertakes to indemnify and keep the College indemnified
            against any costs or expenses arising from claims made against the
            College in connection with this Agreement including but not limited
            to any dispute with Stegram or the infringement of any rights of
            others.


 11. Duration and Termination

      11.1  This Agreement shall commence on the date of signature and shall
            terminate three years after the date of the last appointment
            according to Article 3 unless terminated earlier by mutual
            agreement of the parties to this Agreement.

      11.2  Bioenvision recognises that should Research Assistant II register
            for a higher degree of the University of London then the College
            will not agree to any termination that releases Bioenvision from
            its obligations according to Article 3 in respect of Research
            Assistant II.

      11.3  Either Bioenvision or the College may terminate this Agreement
            without further notice should the other party fail to meet its
            obligations under this Agreement and does not remedy any such
            failure within 2 (two) months of receipt of a written request from
            the other party to remedy any such failure.


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                                                Queen Mary and Westfield College
                                                              Research Agreement


      11.4  No termination of this Agreement shall release Bioenvision or the
            College from their obligations according to Articles 5, 7, 8 and 10.

      11.5  No termination of this Agreement shall affect the rights of
            Bioenvision or the College accrued up to up to the date of such
            termination including nor shall release Bioenvision from the
            obligation to make payments according to Article 3 for work carried
            out and/or reasonable commitments made up to the date of such
            termination.


 12.  Assignment

      12.1  Bioenvision shall not assign all or part of its rights or
            obligations under this Agreement to Stegram or any other third party
            without the prior written approval of the College, such approval not
            being unreasonably withheld where the transferee is a properly
            organised and competent body that agrees to accept all of
            Bioenvision's obligations to the College under this Agreement.

      11.2  The College shall not assign all or part of its rights or
            obligations under this Agreement to any third party without the
            prior written approval of Bioenvision, such approval not being
            unreasonably withheld where the transferee is a properly organised
            and competent body that agrees to accept all of the College's
            obligations to Bioenvision.


 12.  General

      12.1  No variation to this Agreement shall be recognised unless agreed to
            in writing by the parties to this Agreement.

      12.2  The parties to this Agreement agree that this Agreement is the sole
            agreement between the parties in connection with the subject matter
            and that this Agreement replaces and supercedes all previous
            agreements and understandings between the parties.

      12.3  This Agreement shall be governed by the laws of England and be
            subject solely to the jurisdiction of English Courts.


AGREED:

Name:              Dr CB Wood                          Dr D J Westlake

Position:             CEO                  Manager Research Grants and Contracts
          -------------------------


Signature: /s/    Dr CB Wood                  /s/    Dr D J Westlake
          -------------------------       -------------------------------------


On behalf of:  Bioenvision Inc                Queen Mary and Westfield College

Date:              14/6/99                                 7/6/99
     ------------------------------       -------------------------------------


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                                                Queen Mary and Westfield College
                                                              Research Agreement


I accept my obligations under this Agreement:

Name:             Professor G P Vinson

Signature:          /s/ G P Vinson
           ---------------------------------


             Division of Biomedical Sciences
            Queen Mary and Westfield College

Date                  7 June 1999
          ---------------------------------





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                                                Queen Mary and Westfield College
                                                              Research Agreement

                                   Appendix 1

                               Research Programme

                                  Programme II


Aim:  to provide rigorous elucidation of the mode of action of trilostane, and
      analogues, on oestrogen receptor function at the molecular/cellular level.

Objectives: (in order of priority)

1.    To establish interactions of trilostane with specific oestrogen receptor
      isoforms.

      Methods:

        (a)Continue IEF separation of receptor isoforms with quantitation of
           tritiated oestradiol binding in the presence and absence of
           trilostane. This will be performed on breast tumour samples now
           available, otherwise rat uterus.
        (b)Confirm actions of trilostane on affinity of oestradiol binding to
           receptor complement, using Scatchard analysis, in presence and
           absence of trilostane, on breast tumour cytosol preparations.


2.    To establish directly whether the interactions observed in objective I
      affect receptor function.

      Method:

      Using an in vitro reporter system, the effect of trilostane on oestrogen
      receptor activity will be measured. Reporter constructs containing either
      the classical estrogen response element or an AP1 site will be incubated
      with oestrogen receptors in the presence or absence of trilostane,
      tamoxifen or both. Transcriptional activity will be assayed to determine
      whether trilostane has its effect at the nuclear level.


3.    To determine the actions of trilostane on breast cancer cell
      proliferation, in the presence and absence of tamoxifen.

      Methods:

        (a)In vitro. Breast cancer cell lines, e.g. MCF 7, ZR 75, etc., will be
           used in culture to establish the effects of trilostane on oestradiol
           induced proliferation in the presence and absence of tamoxifen.
        (b)In vitro. Epithelial cells isolated from primary breast tumours will
           be grown in culture in the presence and absence of trilostane, as for
           (a).
        (c)In vitro. MCF-7 cells in culture will be cultured in the presence of
           tamoxifen to obtain by selection a tamoxifen resistant cell line. Use
           of these cells in culture in the presence or absence of trilostane
           will determine its effects in a situation that replicates that of
           patients who fail to respond to tamoxifen treatment.
        (d)In vivo. Primary breast tumour cells from patients will be
           transplanted into immunodeficient mice. The effects of trilostane on
           tumour growth in the presence and absence of tamoxifen will be
           determined.


 4.   To establish the precise nature of trilostane interaction with oestrogen
      receptor isoforms in the absence of oestrogen, showing more directly to
      which isoforms trilostane binds, and with what affinity.


                                     1 of 2


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                                                Queen Mary and Westfield College
                                                              Research Agreement


Method:

Using tritiated trilostane in IEF and Scatchard analysis of binding
characteristics. By then competing with unlabelled oestradiol this method will
also determine whether trilostane binding is competitive, or allosteric. If the
latter, this would suggest that results obtained under Objective 1 may not
reveal the full extent of trilostane interactions with the receptor, and may
underestimate its possible effects on oestrogen action.


                                     2 of 2


<PAGE>

                                                Queen Mary and Westfield College
                                                              Research Agreement


This Agreement is made this 6th Day of July 1997 between Queen Mary and
Westfield College of Mile End Road, London El 4NS ("College") and Stegram
Pharmaceuticals Ltd of 44 Broomfield Drive, Billingshurst, Sussex RH14 9TM
("Stegram")

 WHEREAS


Stegram has secured certain rights in connection with a substance known as
Trilostane and as Modrenal its use in pharmaceutical preparations ("Products").

Stegram wishes the College to undertake a programme of research in support of
its plans to develop market Products (Programme").

The College has expertise in the evaluation of oestrogen receptors.

The College is willing to undertake a programme of research in support of
Stegram's plans.


NOW IT IS HEREBY AGREED


1. Programme

      1.1   The Programme will be directed by Professor G P Vinson (Department
            of Biochemistry) who will be the College's representative for all
            matters concerning the Programme.

      1.2   The Programme has been agreed with Stegram and for the avoidance of
            doubt is generally described in Appendix 1.

      1.3   The Programme is expected to be completed by the end of May 1998.

2. Payment

      2.1   Stegram undertakes to pay the College the sum of (pound) 10,000 as a
            contribution towards the expenses of the Programme.

      2.2   The payment will be due on signature of this Agreement on
            presentation of the College's invoice and the College reserves the
            right to add VAT if required to do so.

      2.3   Stegram recognises that this sum does not represent the true cost
            of the Programme and that additional costs will be met from other
            College funds.

3. Reporting

      3.l   The College will provide a written report and commentary on
            experimental results at the end of the Programme.

      3.2   The College and Stegram may discuss experimental results and the
            Programme at reasonable intervals.

4. Results, Discoveries and Inventions

      4.l   In the first instance the College shall own all intellectual
            property arising from this Programme ("Foreground Intellectual
            Property") and the College undertakes not to enter into any
            arrangements with third parties in connection with this that are not
            foreseen by this Agreement.


<PAGE>




      4.2   The College shall be responsible for making its staff aware of the
            need for confidentiality and delaying disclosure of results in order
            to apply for such protection of Foreground Intellectual Property
            that it deems necessary and ensuring that the names of inventors and
            claims to invention are properly registered.

      4.3   Should the College decide not to apply for any specific protection
            of Foreground Intellectual Property then it will inform Stegram and
            Stegram may do so in conjunction with the College or otherwise and
            the College will endeavour to assist Stegram in this matter through
            supply of information in its possession, authorising the signing of
            documents, continuing to maintain confidentiality and delaying
            publication.

      4.4   Should Stegram or the College believe Foreground Intellectual
            Property might be used commercially then it will advise the other
            party and the parties will meet to determine the most appropriate
            way to proceed and the contributions of Stegram the College and any
            third party(ies).

      4.5   After reimbursing the College and/or Stegram for expenses incurred
            under Articles 4.2 and/or 4.3 any remaining proceeds shall be
            distributed as follows

                          Third party(ies)   )
                          Stegram            ) according to contribution
                          College            )

      4.6   The College shall be responsible for distributions to its staff and
            students according to its published policy.

      4.7   The College and Stegram will endeavour to reach mutual agreement
            under Articles 4.4 and 4.5 and shall first refer any dispute to a
            mutually acceptable party and failing resolution shall refer the
            dispute to an arbitrator appointed by the President for the time
            being of the Royal Society of Chemistry whose decision shall be
            binding on both parties.

5. Background Intellectual Property

      5.1   At the commencement of this Agreement Stegram shall be deemed to be
            the owner of all existing intellectual property concerning the
            Products and applications concerning breast cancer ("Background
            Intellectual Property").

      5.2   Should Stegram enter into negotiations with third parties with a
            view to sale or transfer of its interest in or to granting a licence
            for use of part or all of Background Intellectual Property then
            Stegram will promptly advise the College of any such negotiations
            and keep the College informed as to their progress.

      5.3   Before Stegram concludes any negotiations it will meet with the
            College and determine the contribution, to that date, of Stegram and
            the College to any enhancement of the value of the Products and
            Background Intellectual Property brought about by access to
            Foreground Intellectual Property.

      5.4   The parties recognise and accept that Stegrams obligations under
            Articles 5.2 and 5.3 shall exclude negotiations with any third party
            already having a licence from Stegram in connection with the
            Products unless these involve Foreground Intellectual Property and
            use of the Products in connection with breast cancer.

      5.5   The enhancement in value shall be divided between the College and
            Stegram by reference to the respective contributions agreed
            according to Article 5.3.


<PAGE>


      5.6   The College shall be responsible for distribution of its share of
            any enhancement in value to its staff according to its published
            policy.

      5.7   The College and Stegram will endeavour to reach mutual agreement
            under Articles 5.3 and 5.4 and shall first refer any dispute to a
            mutually acceptable party and still failing resolution shall refer
            the dispute to an arbitrator to be appointed by the President for
            the time being of the Royal Society of Chemistry whose decision
            shall be binding on both parties.

6. Publications

      6.1   Stegram recognises that the College has a statutory duty to freely
            disseminate results of its research and shall not prevent any
            publication of results arising from this Programme in accordance
            with this duty.

      6.2   Notwithstanding the provisions of Article 6.1 the College undertakes
            to provide Stegram with a copy of any proposed publication and
            Stegram may require the College to delay publication for a period
            not exceeding six (6) months in order to provide adequate time for
            consideration and protection of any intellectual property.

7. Use of Results and College Name

      7.1   Stegram undertakes not to use or publish or authorise others to use
            or publish any information or results provided by the College
            hereunder or any abstract therefrom in any scientific or promotional
            or marketing or other material in connection with the Products
            without the prior written permission of the College.

      7.2   The College undertakes not to refuse permission where the
            publication as a whole does not distort or misrepresent results or
            views expressed in the original material provided to Stegram.

      7.3   Nothing in this Agreement shall be interpreted as the College
            endorsing or being associated with the Products in any way
            whatsoever.

      7.4   Nothing in this Agreement shall be interpreted as giving Stegram any
            right or permission to use or to authorise others to use the name of
            the College or its emblem in any way whatsoever.

8. Testing of Substances

      8.l   No College employee may authorise the use of any substance in
            clinical trials or any procedures requiring or normally requiring
            ethical or regulatory approval unless specifically stated in writing
            and in accordance with the College's procedures for ethical
            approval.

9. Warranties and Liabilities

      9.1   The College will endeavour to undertake the Programme in a
            professional and diligent manner but accepts no liability for any
            costs or expenses arising from any interpretation or reliance that
            Stegram or other parties may place on the work product nor offers
            any warranty that it will solve any particular problem.

      9.2   Stegram undertakes to indemnify the College against any costs or
            expenses arising from this Agreement including but not limited to
            any dispute concerned with Stegram's rights in the Products or the
            infringement or any rights of others.


<PAGE>


10. General

      10.1  This Agreement shall be governed by the laws ot England and be
            subject solely to the jurisdiction of English Courts.




AGREED

Name:              G Margetts                             Dr D J Westlake
           ------------------------------

Signature: /s/     G Margetts                   /s/     Dr D J Westlake
           ------------------------------       --------------------------------

On behalf of  Stegram Pharmaceuticals Ltd       Queen Mary and Westfield College

Date                  9/7/97                                 4/7/97
           ------------------------------       --------------------------------


I accept my obligations under this Agreement

Name:          Professor G P Vinson
           -----------------------------

Signature: /s/     G P Vinson
           -----------------------------

           Department of Biochemistry

        Queen Mary and Westfield College

Date              7 July 1997
     -----------------------------------


<PAGE>


                                   Appendix 1

                               Research Programme

Purpose

      To determine the interactions of trilostane (Modrenal) with oestrogen
      receptor isoforms in the uterus and in breast tumours.

Objectives

      We will use ligand binding and gel electrophoretic fractionation, as
      appropriate, to characterise oestrogen receptor proteins in human uterus,
      and breast tumours.

      We will use breast tissue obtained at operation, and endometrial samples
      from women of known reproductive status and stage of the menstrual cycle,
      undergoing hysterectomy for benign conditions.

      Cytosols from these tissues will be prepared as described in our
      publications*, incubated with radioactively labelled oestradiol, and
      specifically bound fractions will be separated on isoelectric focusing
      gels to separate the four oestrogen receptor subtypes. Quantitation of
      radiolabelled oestrogen bound to each isoform will be by liquid
      scintillation counting of gel slices.

      Ten samples of each tissue type will be used, and in each case,
      specifically labelled oestradiol will be "competed" with (i) unlabelled
      oestradiol (ii) tamoxifen (iii) Modrenal at varying concentrations.

Expected Results

      The data are expected to show the relative affinities of the oestrogen
      isoforms present in the two tissue types for oestradiol, tamoxifen and
      Modrenal. In particular they are expected to reveal whether the
      anti-cancer efficacy of Modrenal may be associated with binding to one or
      more of the 4 oestrogen receptor subtypes that may be present.

   *V.A. Baker, J.R. Puddefoot, S. Marsigliante, S. Barker, A.W. Goode and G.
      P. Vinson, (1992). Oestrogen receptor isoforms, their distribution and
      relation to progesterone receptor levels in breast cancer samples. Brit.
      J. Cancer. 66. 1083-1087.

   J.R. Puddefoot, V.A. Baker, B. Bakkers, S. Marsigliante, S. Barker, C.
      Panahy, A.W. Goode, R. Carpenter and G.P. Vinson, (1993). The nature
      and significance of multiple isoforms of the oestrogen receptor in breast
      tumours. J. mol. endocr., II. 83-90.