**Exhibit
      10.40**









**AGREEMENT**




Reference
      is made to that certain (i) Securities Purchase Agreement (the “ Securities
      Purchase Agreement ”),
      (ii)
      Security Agreement, (iii) Collateral Assignment, (iv) Guaranty Agreement (the
      “ October
      Guaranty Agreement ”),
      (v)
      Guarantor Security Agreement, (vi) Escrow Agreement, (vii) Escrow Shares
      Agreement, (viii) Investor Registration Rights Agreement (the “ October
      Investor Registration Rights Agreement ”)
      and
      (ix) Irrevocable Transfer Agent Instructions, each dated as of October 12,
      2005,
      and each by and among Uluru Inc. (f/k/a Oxford Ventures, Inc.), a Nevada
      corporation (the “ Company ”),
      or
      Uluru Delaware Inc. (f/k/a Uluru Inc. and the successor by merger with Uluru
      Acquisition Corp.), a Delaware corporation (the “ Subsidiary ”),
      and
      Highgate House Funds, Ltd (whose interests were subsequently transferred to
      Cornell Capital Partners, LP), Prenox, LLC and the various other parties, if
      any, thereto. Capitalized terms used herein and not otherwise defined are
      defined in the Securities Purchase Agreement.




WHEREAS,
      pursuant to the Securities Purchase Agreement, the Second Closing was to occur
      within five (5) days after the registration statement to be filed pursuant
      to
      the October Investor Registration Rights Agreement was declared effective and,
      at the Second Closing, the Buyers would fund an additional $2,000,000 from
      Escrow for the purchase of additional Convertible Debentures in the amounts
      set
      forth on Schedule I to the Securities Purchase Agreement; and




WHEREAS,
      the parties desire to amend the Securities Purchase Agreement to provide that:
      (i) the Second Closing shall occur on the date hereof, notwithstanding the
      fact
      that the registration statement contemplated by the October Investor
      Registration Rights Agreement has yet to be filed with the SEC; (ii) at the
      Second Closing, Prenox, LLC shall purchase $3,000,000 of Convertible Debentures
      and warrants to purchase shares of Common Stock (the “ Second
      Closing Warrants ”),
      in
      the form attached hereto as Exhibit A, and Cornell Capital Partners, LP shall
      not purchase any securities of the Company; and (iii) Schedule Ito the
      Securities Purchase Agreement shall be amended to reflect the transactions
      contemplated by the Second Closing; and WHEREAS, in connection with the
      transactions contemplated by the Second Closing, (i) the Convertible Debentures
      previously issued to Prenox, LLC and Highgate House Funds, Ltd. shall be amended
      and restated in the form attached hereto as Exhibits B-1 and B-2, respectively,
      (ii) the October Guaranty Agreement shall be amended and restated in the form
      attached hereto as Exhibit C (the “ Amended
      and Restated Guaranty Agreement ”)
      and
      (iii) the October Investor Registration Rights Agreement shall be amended and
      restated in the form attached hereto as Exhibit D (the “ Amended
      and Restated Investor Registration Rights Agreement ”).





Now
      therefore, in consideration of the foregoing and other consideration, the
      sufficiency of which is hereby acknowledged the parties hereto agree as
      follows:





|1. | The
              Second Closing shall occur on the date hereof and, at the Second Closing,
              Prenox, LLC shall wire $3,000,000 (net of the fee of $300,000 due and
              owing to Prenox, LLC specified in paragraph 3 below and the $675,000
              of
              accrued but unpaid interest due and owing to Prenox, LLC as specified
              in
              paragraph 3 below) to an account designated in writing by the Company
              upon
              receipt of (i) an originally executed Amended and Restated Convertible
              Debenture, in the form attached hereto as Exhibit B-i, in the aggregate
              principal amount of $13,000,000, (ii) the originally executed Second
              Closing Warrants, (iii) a duly executed copy of the Amended and Restated
              Investor Registration Rights Agreement, and (iv) a duly executed copy
              of
              the Amended and Restated Guaranty
              Agreement.
|-- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------




|2. | Schedule
              I to the Securities Purchase Agreement is hereby amended so that the
              column “Second Closing” under (A) “Amount of Subscription” shall read “0”
              opposite the name of Highgate House Funds, Ltd. and “$3,000,000” opposite
              the name of Prenox, LLC and (B) “Number of Warrants” shall read “0”
              opposite the name of Highgate House Funds, Ltd. and “1,125,000” opposite
              the name of Prenox, LLC.
|-- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------




|3. | The
              use of proceeds from the Second Closing shall be used to repay accrued
              interest due and owing through and including August 31, 2006 to Prenox,
              LLC and Cornell Capital Partners, LP under the Convertible Debentures
              issued at the First Closing in the amount of $675,000 and $265,616,
              respectively, to pay Prenox LLC’s fee of $300,000 as set forth in Section
              4(g) of the Securities Purchase Agreement and the remaining balance
              for
              working capital purposes. No proceeds from the Second Closing shall
              be
              used to pay any amounts that may now or hereafter be due and owing
              to
              Access Pharmaceuticals, Inc. or pursuant to the Asset Sale Agreement,
              dated as of October 11, 2005, between the Company and Access
              Pharmaceuticals, Inc.
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------




|4. | The
              Company hereby represents and warrants to Prenox, LLC that the
              representations and warranties set forth in Section 3 to the Securities
              Purchase Agreement are true and correct in all material respects as
              of the
              date hereof (except to the extent that any of such representations
              and
              warranties is already qualified as to materiality in Section 3 above,
              in
              which case, such representations and warranties shall be true and correct
              without further qualification); it being acknowledged and agreed that
              for
              purposes of the foregoing, the term (i) “Convertible Debentures”, as
              referred to in the Securities Purchase Agreement, shall be deemed to
              refer
              to the Amended and Restated Convertible Debentures being issued at
              the
              Second Closing, (ii) “Warrants”, as referred to in the Securities Purchase
              Agreement, shall be deemed to refer to the warrants to purchase Common
              Stock issued in the First Closing and the Second Closing Warrants,
              and
              (iii) the “Investor Registration Rights Agreement,” as referred to in the
              Securities Purchase Agreement, shall be deemed to refer to the Amended
              and
              Restated Investor Registration Rights
              Agreement.
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------




|5. | The
              Company and the Subsidiary hereby reaffirm the prior grant of the security
              interest in all of the assets and property of (i) the Company as set
              forth
              on Exhibit A to the Security Agreement and (ii) the Subsidiary as set
              forth on Exhibit A to the Guarantor Security
              Agreement.
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------




|6. | The
              Company, Prenox, LLC and Cornell Capital Partners, LP (as transferee
              of
              the interests of Highgate House Funds, Ltd.) hereby authorize and instruct
              the Escrow Agent to release from escrow any funds presently held by
              the
              Escrow Agent relating to the Second Closing and to deliver such funds
              to
              Prenox, LLC and Cornell Capital Partners, LP, as applicable, in the
              amount
              deposited by such party with the Escrow Agent with respect to the Second
              Closing.
|-- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------




|7. | The
              parties hereto hereby approve and consent to the consummation of the
              Second Closing on the terms set forth herein, including the issuance
              of
              the Amended and Restated Convertible Debentures and the Second Closing
              Warrants.
|-- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------




|8. | Except
              as amended by the terms of this Agreement, the Securities Purchase
              Agreement and the other transaction documents executed in connection
              with
              the First Closing shall remain in full force and
              effect.
|-- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------




|9. | All
              questions concerning the construction, validity, enforcement and
              interpretation of this Agreement shall be governed by the internal
              laws of
              the State of New York, without giving effect to any choice of law or
              conflict of law provision or rule (whether of the State of New York
              or any
              other jurisdictions) that would cause the application of the laws of
              any
              jurisdictions other than the State of New York. Each party hereby
              irrevocably submits to the exclusive jurisdiction of the state and
              federal
              courts sitting in The City of New York, Borough of Manhattan, for the
              adjudication of any dispute hereunder or in connection herewith or
              with
              any transaction contemplated hereby or discussed herein, and hereby
              irrevocably waives, and agrees not to assert in any suit, action or
              proceeding, any claim that it is not personally subject to the
              jurisdiction of any such court, that such suit, action or proceeding
              is
              brought in an inconvenient forum or that the venue of such suit, action
              or
              proceeding is improper. Each party hereby irrevocably waives personal
              service of process and consents to process being served in any such
              suit,
              action or proceeding by mailing a copy thereof to such party at the
              address for such notices to it under this Agreement and agrees that
              such
              service shall constitute good and sufficient service of process and
              notice
              thereof. Nothing contained herein shall be deemed to limit in any way
              any
              right to serve process in any manner permitted by law.**EACH
              PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT
              TO
              REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER
              OR IN
              CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION
              CONTEMPLATED HEREBY.**
|-- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------










**IN
      WITNESS WHEREOF** ,
      the
      parties hereto have caused this Reaffirmation to be executed by an officer
      thereunto duly authorized, as of the date first above written.





**ULURU
      DELAWARE INC.** ,
      a
      Delaware


corporation





By:  /s/
      Kerry P. Gray


Name:  Kerry
      P. Gray


Title:  President & CEO








**ULURU
      INC.** ,
      a
      Nevada corporation





By:  /s/
      Kerry P. Gray


Name:  Kerry
      P. Gray


Title:  President & CEO