##### 



Exhibit 10.49
***Text Omitted and Filed SeparatelyConfidential Treatment
RequestedUnder 17 C.F.R. §§ 200.80(b)(4)
and240.24b-2(b)(1)
 ASSET PURCHASE AGREEMENT
 BETWEEN
 IDM PHARMA, INC.
 AND
 PHARMEXA INC.
 NOVEMBER 23, 2005




---



##### 



ASSET PURCHASE AGREEMENT
 Seller Buyer
 Preliminary Statement
     ARTICLE 1 CERTAIN DEFINITIONS.
  Affiliate
 Agreement
 Antigen
 Assets
 Assumed Contracts
 Assumed Liabilities
 - 1 -




---



##### 



Business
 Closing Closing Date
 Closing Payment
 Hired Employees Schedule
1.10
 Employee Benefit Plan
 Environmental Laws et seq et seq et seq et seq et seq et seq et seq et seq
 *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 - 2 -




---



##### 



Epitope
 Epitope Identification System EIS Schedule 1.27(ii)
 Equipment Schedule 1.15
 Excluded Assets
 Excluded Contracts
 1.18
    
    Excluded Liabilities has the meaning set forth in Section 9.1(a).
 *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 - 3 -




---



##### 



Existing Library Schedule 1.27(ii)
 Facility
 Governmental Authority
 Hazardous Material
    Intellectual Property
 Intellectual Property Assets Schedule 1.27(ii) Schedule
1.27(iv) Schedule 1.27(iv) Schedule 1.27(iv) www.epimmune.com.
 Inventory Schedule 1.28
 - 4 -




---



##### 



Know-How
 Legal Requirement
 Lien
 Material Contracts
 Materials
 NIH Grants
 Notice Date
 PADRE Technology Schedule 1.36
 Patents
 Permits
 Permitted Liens
 *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 - 5 -




---



##### 



Schedule 1.27, Schedule 1.27 Schedule 1.39
 Person
 Programs
 Purchase Price
 Representative
 Sales Tax
 Transaction Agreements
   Exhibit
1.45(c) EIS License Agreement
 Exhibit 1.45(d) License Agreements
 Exhibit 1.45(e) Services Agreement
 - 6 -




---



##### 



Exhibit 1.45(f) Novation Agreement
   Vendor Accounts
 ARTICLE 2 SALE AND PURCHASE OF ASSETS.
  Assets to be Acquired Assets
       Schedule
2.1(g)
  - 7 -




---



##### 



Assumption of Liabilities
 Obligations Not Assumed
      *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 - 8 -




---



##### 



Purchase Price
 Third Party Consents
 ARTICLE 3 CERTAIN COVENANTS OF THE PARTIES.
 Tax Allocation Schedule
3.1
 Business in the Ordinary Course
   - 9 -




---



##### 



Third Party Consents
 Post-Closing Assistance
  - 10 -




---



##### 



Consummation of Transactions
 Cooperation
 Taxes Sales Tax
 Receipt of Monies or Other Assets
 Payment of Rents and Utilities
 *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 - 11 -




---



##### 



Facility Lease Landlord Lease
 Employee Matters
 Allocations Under NIH Grants
 Update Schedules Schedule 4.5(c) Schedule 4.5(c)
 *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 - 12 -




---



##### 



Domain Name www.epimmune.com Transfer Date
 ARTICLE 4 REPRESENTATIONS AND WARRANTIES OF SELLER.
  Organization and Good Standing
 Compliance with Law
  Schedule 4.2(b)
 Authority and Compliance
  - 13 -




---



##### 



,
 Assets
  Combination
 Assumed Contracts
 Schedule 4.5(a)
 Schedule 4.5(a)
 - 14 -




---



##### 



Schedule 4.5(c)
 Schedule 4.5(a)
 Intellectual Property Assets
 Schedule 4.6(a) Schedule 4.6(a) Schedule 4.6(a)
   Equipment
 Legal Proceedings
 *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 - 15 -




---



##### 



No Finder
 Permits
 Absence of Certain Events Schedule 4.11
          Delivery of Documents
 Environmental Representations
 *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 - 16 -




---



##### 



Employment Matters
   Program Results
 Disclosure
 Taxes
 ARTICLE 5 REPRESENTATIONS AND WARRANTIES OF BUYER.
  - 17 -




---



##### 



Organization and Good Standing
 Compliance with Law
   Authority and Compliance
    No Finder
 - 18 -




---



##### 



Legal Proceedings
 ARTICLE 6 CONDITIONS PRECEDENT TO THE OBLIGATIONS OF SELLER.
  Representations, Warranties and Covenants
 Legal Matters
 Transaction Agreements
 Payment of Purchase Price Closing Payment
 Closing Certificates
 Consents and Approvals Schedule 6.6
 ARTICLE 7 CONDITIONS PRECEDENT TO THE OBLIGATIONS OF BUYER.
 - 19 -




---



##### 



Representations, Warranties and Covenants
 Legal Matters
 Transaction Agreements
 Closing Certificates
 Consents and Approvals Schedule 6.6
 No Casualty
 No Adverse Novation Decision
 Certain Hired Employee Matters
 *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 - 20 -




---



##### 



ARTICLE 8 CLOSING PROCEDURES.
 Closing Date Closing Date llp
  Closing Deliveries of Seller
       Closing Deliveries of Buyer
    - 21 -




---



##### 



ARTICLE 9 INDEMNIFICATION.
 Indemnification of Buyer
 Excluded
Liabilities
   Indemnification of Seller
    - 22 -




---



##### 



Indemnification Procedures Involving Only Seller and Buyer
 Notice Indemnitee Indemnitor Indemnification
Notice Notice Date
 Good Faith Discussions
 Certain Procedures Regarding Indemnification of Third Party Claims
 Third Party
Claim Third Party Claim Notice
  *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 - 23 -




---



##### 



Limitation on Liability; Claims Period
 Limitation provided however Threshold provided however
 No Consequential Damages, Etc.
 *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 - 24 -




---



##### 



Third Party Recoveries; Other. provided however provided however
 Effect of Indemnification
 Resolution of Disputed Indemnification Claim
  Contested Claim
 *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 - 25 -




---



##### 



ARTICLE 10 CERTAIN POST-CLOSING COVENANTS.
  Schedule 1.10 Schedule 1.10
  WARN Act
  Books and Records: Access .
 *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 - 26 -




---



##### 



ARTICLE 11 MISCELLANEOUS MATTERS.
 Survival of Representations and Warranties provided however
 Further Assurances; Access to Records
 Amendments, Waivers
 *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 - 27 -




---



##### 



Expenses
 Counterparts
 Contents of Agreement; Parties in Interest; Assignment, Etc.
   Dispute Resolution
 Arbitration Dispute
  *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 - 28 -




---



##### 



Article and Section Headings and Gender
 Schedules
 - 29 -




---



##### 



Notices
 If to Buyer:
    

If
to Seller:Pharmexa Inc.c/o Pharmexa A/S
    
    IDM PharmaKogle Allé 6
    
    9 Parker, Suite 100DK-2970 Hørsholm
    
    Irvine, CA 92618Fax: +45 4516 2500
    
    Fax: (949) 470-6470Attn: President
    
    Attn: Jean-Loup Romet-Lemonne, M.D.With a copy to:
    
    With a copy to:Nordlicht & Hand
    
    Cooley Godward LLP645 Fifth Avenue
    
    4401 Eastgate MallNew York, New York 10022
    
    San Diego, California 92121-1909Fax: (212) 421-0499
    
    Fax: (858) 550-6420Attn: Brian M. Hand, Esq.
    
    Attn: Barbara L. Borden, Esq.
  Separability
 Governing Law
 Confidentiality
 *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 - 30 -




---



##### 



Public Announcements
 Termination
 Mutual Drafting
  - 31 -




---



##### 



IDM PHARMA, INC.By:
    
    /s/ Emile LoriaName:
    
    Emile LoriaTitle:
    
    President and CEOPHARMEXA INC.By:
    
    /s/ W. Marc HertzName:
    
    W. Marc HertzTitle:
    
    CEO
 - 32 -




---



##### 



Eligible
    
    
    EligibleAccrued
    
    
    Accrued
    
    
    Severance
    
    
    SeveranceName
    
    Job title
    
    
    Hire Date
    
    
    Salary
    
    
    Vacation
    
    
    Personal Time
    
    
    (Months)
    
    
    (Dollars)[. . . *** . . .]
 
 (1)
    
    Hired Employee referenced in Section 7.8. *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)




---



##### 



Schedule 1.15. Excluded Equipment.
 Software-
  Hardware-
  Schedule 1.15
    
    *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)




---



##### 



Schedule 1.27(ii). Intellectual Property Assets.
 Application/Case Nos.
    
    
    
    
    
    
    
    
    
    
    Patent/Publn.
    
    
    Issue orSubject Matter
    
    in Family
    
    
    Title
    
    
    Case Status
    
    
    No.
    
    
    Publn. Date[. . . *** . . .]
 Schedule 1.27(ii)
    
    *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 Page - 1.




---



##### 



Application/Case Nos.
    
    
    
    
    
    
    
    
    
    
    Patent/Publn.
    
    
    Issue orSubject Matter
    
    in Family
    
    
    Title
    
    
    Case Status
    
    
    No.
    
    
    Publn. Date[. . . *** . . .]
 Schedule 1.27(ii)
    
    *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 Page - 2.




---



##### 



Application/Case Nos.
    
    
    
    
    
    
    
    
    
    
    Patent/Publn.
    
    
    Issue orSubject Matter
    
    in Family
    
    
    Title
    
    
    Case Status
    
    
    No.
    
    
    Publn. Date[. . . *** . . .]
 Schedule 1.27(ii)
    
    *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 Page - 3.




---



##### 



Application/Case Nos.
    
    
    
    
    
    
    
    
    
    
    Patent/Publn.
    
    
    Issue orSubject Matter
    
    in Family
    
    
    Title
    
    
    Case Status
    
    
    No.
    
    
    Publn. Date[. . . *** . . .]
 Schedule 1.27(ii)
    
    *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 Page - 4.




---



##### 



Application/Case Nos.
    
    
    
    
    
    
    
    
    
    
    Patent/Publn.
    
    
    Issue orSubject Matter
    
    in Family
    
    
    Title
    
    
    Case Status
    
    
    No.
    
    
    Publn. Date[. . . *** . . .]
 Schedule 1.27(ii)
    
    *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 Page - 5.




---



##### 



Application/Case Nos.
    
    
    
    
    
    
    
    
    
    
    Patent/Publn.
    
    
    Issue orSubject Matter
    
    in Family
    
    
    Title
    
    
    Case Status
    
    
    No.
    
    
    Publn. Date[. . . *** . . .]
 Schedule 1.27(ii)
    
    *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 Page - 6.




---



##### 



Application/Case Nos.
    
    
    
    
    
    
    
    
    
    
    Patent/Publn.
    
    
    Issue orSubject Matter
    
    in Family
    
    
    Title
    
    
    Case Status
    
    
    No.
    
    
    Publn. Date[. . . *** . . .]
 Schedule 1.27(ii)
    
    *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 Page - 7.




---



##### 



Schedule 1.27(iv). Intellectual Property Assets.
 Family
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Application/Matter
    
    
    
    
    
    Case Nos. in
    
    
    
    
    
    
    
    
    
    
    Patent/Publn.
    
    
    Issue orNo.
    
    Subject Matter
    
    
    Family
    
    
    Title
    
    
    Case Status
    
    
    No.
    
    
    Publn. Date[. . .***. . .]
 Schedule 1.27(iv)
    
    *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 Page - 1.




---



##### 



Family
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Application/Matter
    
    
    
    
    
    Case Nos. in
    
    
    
    
    
    
    
    
    
    
    Patent/Publn.
    
    
    Issue orNo.
    
    Subject Matter
    
    
    Family
    
    
    Title
    
    
    Case Status
    
    
    No.
    
    
    Publn. Date[. . .***. . .]
 Schedule 1.27(iv)
    
    *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 Page - 2.




---



##### 



Family
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Application/Matter
    
    
    
    
    
    Case Nos. in
    
    
    
    
    
    
    
    
    
    
    Patent/Publn.
    
    
    Issue orNo.
    
    Subject Matter
    
    
    Family
    
    
    Title
    
    
    Case Status
    
    
    No.
    
    
    Publn. Date[. . .***. . .]
 Schedule 1.27(iv)
    
    *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 Page - 3.




---



##### 



Family
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Application/Matter
    
    
    
    
    
    Case Nos. in
    
    
    
    
    
    
    
    
    
    
    Patent/Publn.
    
    
    Issue orNo.
    
    Subject Matter
    
    
    Family
    
    
    Title
    
    
    Case Status
    
    
    No.
    
    
    Publn. Date[. . .***. . .]
 Schedule 1.27(iv)
    
    *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 Page - 4.




---



##### 



Family
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Application/Matter
    
    
    
    
    
    Case Nos. in
    
    
    
    
    
    
    
    
    
    
    Patent/Publn.
    
    
    Issue orNo.
    
    Subject Matter
    
    
    Family
    
    
    Title
    
    
    Case Status
    
    
    No.
    
    
    Publn. Date[. . .***. . .]
 Schedule 1.27(iv)
    
    *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 Page - 5.




---



##### 



Schedule 1.28. Excluded Inventory.
  Schedule 1.28




---



##### 



Schedule 1.36. PADRE Technology Patents.
 Application/
    
    Issue orPatent/
    
    Publn.Subject Matter
    
    Case Nos. in Family
    
    Title
    
    Case Status
    
    Publn. No.
    
    Date[. . . *** . . .]
 Schedule 1.36
    
    *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)




---



##### 



Application/
    
    Issue orPatent/
    
    Publn.Subject Matter
    
    Case Nos. in Family
    
    Title
    
    Case Status
    
    Publn. No.
    
    Date[. . . *** . . .]
 Schedule 1.36
    
    *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)




---



##### 



Schedule 1.39. Additional Permitted Liens.
  Schedule 1.39




---



##### 



Schedule 2.1(g). Permits.
  Schedule 2.1(g)
    
    *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)




---



##### 



Schedule 3.1. Tax Allocation.
  Asset Type
    
    Asset Class
    
    
    Amount[. . . *** . . .]
    
    
    
    
    
    
    
 Schedule 3.1
    
    *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)




---



##### 



Schedule 4.2(b). Required Consents, Licenses or Authorizations of Government Authorities.
  Schedule 4.2(b)
    
    *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)




---



##### 



Schedule 4.5(a). Material Contracts and Required Consents for Material Contracts.
 Material Contracts Not Requiring Consent:
  Schedule 4.5(a)
    
    *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 Page - 1.




---



##### 



Material Contracts Requiring Consent:
  Schedule 4.5(a)
    
    *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 Page - 1.




---



##### 



Schedule 4.5(a)
    
    *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)
 Page - 1.




---



##### 



Schedule 4.5(c). Authorized Funding Remaining Under NIH Grants.
  PotentialContract
    
    
    
    
    
    Funding
    
    
    Billing
    
    
    Balance
    
    
    AdditionalNumber
    
    Contract Name
    
    
    (to date)
    
    
    (to date)
    
    
    to bill
    
    
    Funding*[. . . *** . . .]
 
 *
    
    Provided for informational purposes only. Actual funding will depend upon government funding.
Seller makes no representation with respect to any actual future funding that may be provided by
the NIH. Schedule 4.5(c)
    
    *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)




---



##### 



Schedule 4.6(a).
 List of Registered Intellectual Property Assets
 Filing
    
    
    
    
    
    
    Reg.
    
    
    Status &Matter No.
    
    Trademark
    
    
    Country
    
    
    Date
    
    
    Reg. No.
    
    
    Date
    
    
    Remarks[. . . *** . . .]
  Licenses and Rights to Intellectual Property Assets and Programs
  Schedule 4.6(a)
    
    *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)




---



##### 



Schedule 4.11. Events Since September 30, 2005.
  Schedule 4.11




---



##### 



Schedule 6.6. Consents Required to Close.
  *Confidential Treatment Requested   under
17 C.F.R. §§ 200.80(b)(4) and   240.24b-2(b)(1)