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                                                                    Exhibit 10.7
                                             9 August 2000



                          Equipment Purchase Agreement

Between TERUMO Europe N.V
and Univec Inc.


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INDEX
Article I - Definitions and interpretation                                     4
Article 2 - Sale and Purchase of the Equipment                                 5
Article 3 - Design, pre-shipment inspection and shipment                       5
Article 4 - Delivery and Installation                                          6
Article 5 - Acceptance                                                         6
Article 6 - Risk and ride to the Equipment                                     7
Article 8 - Warranties of the Seller                                           8
Article 9 - Assignment of the Manufacturers Warranties                         9
Article 10 - Documentation                                                     9
Article I I - Cancellation                                                     9
Article 12 - Confidentiality                                                   9
        12.1 Seller's Obligations of Confidentiality                           9
        12.2 Purchaser's Obligations of Confidentiality                       10
        12.3 Disclosure to Employees                                          10
        12.4 Disclosure to Media                                              10
        12.5 Obligations survive termination                                  10
        12.6 Permitted disclosures of Confidential Information                11
Article 13 - Miscellaneous                                                    11
        13.1 Notices                                                          11
        13.2 Waiver                                                           11
        13.3 Amendments                                                       11
        13.4 Force Majeure                                                    11
Article 14 - Governing law and Jurisdiction                                   11
Article 15 -Agency                                                            11
Article 16 - Suspensive Condition                                             12


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Equipment Purchase Agreement

By and BETWEEN

TERUMO EUROPE N.V., a company having its registered office at 3001 Leuven
(Belgium), Researchpark 2 Haasrode, Int4ieuvenlaan 40;

hereinafter referred to as the "Purchaser";

AND:

UNIVEC INC., a company having its registered office at 11735 New York (USA), 22
Dubon Court Farmingdale;

hereinafter referred to as the "Seller":

WHEREAS the Seller and Purchaser are entering into a Patent Licensing Agreement
and a Manufacturing Agreement relating to the production of Licensed Products
(as defined in those Agreements);

WHEREAS the manufacturing of the Licensed Products requires the installation of
certain Equipment at the premises of the Purchaser;

WHEREAS the Seller is in a position to design and procure the Equipment from a
qualified manufacturer and has expressed its interest in selling such Equipment
to the Purchaser.

WHEREAS the Seller is willing to sell the Equipment to the Purchaser who is
willing to acquire the Equipment subject to the terms and conditions set forth
in this Agreement

IT HAS BEEN AGREED UPON AS FOLLOWS


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Article 1 - Definitions and Interpretation

         In this Agreement (including the above recitals), unless the context
         otherwise requires, the following capitalized words and expressions
         shag have the meaning hereinafter defined:

         "Agreement" shall mean the present agreement together with its Annexes;

         "Business Day" shall mean a day that is not a Saturday, Sunday or
         public holiday in Belgium

         "Confidential Information" means all:

(a) know-how, trade secrets, ideas, marketing strategies, concepts, technical
and operational information owned or used by the Seller or the Purchaser (as the
case may be);

(b) information concerning the affairs or Products or any business, property or
transaction in which the Seller or the Purchaser (as the case may be) may be or
may have been concerned or interested;

(c) information about the terms of this Agreement

(d) information labeled by either party as confidential,

and any information which, by its nature or by the circumstances of its
         disclosure, is or could reasonably be expected to be regarded as
         confidential to:

(a) the Seller or the Purchaser (as the case may be); or

(b) any third party with whose consent or approval the Seller or the Purchaser
uses that information;

but does not include any information

(a) which is or becomes part of the public domain other than by reason of a
breach of the terms of this Agreement or

(b) which at the time of the disclosure is in possession of the disclosed party;
or

(c) which after the disclosure is developed independently of Confidential
Information disclosed by the other party.

"Equipment" shall mean the equipment as set forth in Annex I to this Agreement

"Installation" shall mean the mechanical positioning of the Equipment within the
manufacturing plant of the Purchaser and the successful completion of a starting
phase functional testing procedure;


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"Installation Completion Date" shall mean the date on which the Installation
must be completed pursuant to section 4.1 of this Agreement

"Letter of Credit" shall mean the letter of credit in the form of Annex 11 to
this Agreement to be provided by a financial institution of good international
standing, acceptable to the Purchaser, providing for payment to the Purchaser of
certain amounts on the failure of the Seller to deliver the Equipment as more
fully set forth therein.

"Licensed Products" shall have the same meaning as defined under the Patent
Licensing Agreement

"Manufacturing Agreement" shall mean the manufacturing agreement relating to the
production of auto-disable syringes entered into by and between the Parties on
the same date as the present Agreement

"Patent Licensing Agreement" shall mean the licensing agreement granting to the
Purchaser the right to manufacture and sell the Licensed Products and entered
into by and between the Parties on the same date as the present Agreement

"Parties" or "Party" shall mean the, or one of the, signatories of this
Agreement

"Purchaser Letter of Credit" shall mean the letter of credit in the form of
Annex III to this Agreement

Article 2 - Sale and Purchase of the Equipment

         Subject to the terms and conditions of this Agreement the Purchaser
         undertakes to purchase from the Seller and the Seller undertakes to
         sell to the Purchaser the Equipment in an entirely new and workable
         condition (subject only to normal usage in testing and validating the
         Equipment), within the delivery and installation period specified in
         Article 3 hereof.

Article 3 - Design, pre-shipment inspection and shipment

3.1   The Seller shall, within 15 Business Days after the signing of this
      Agreement provide the Purchaser with all necessary information in order to
      enable the Purchaser to evaluate the design of the Equipment

      If the design is not in compliance with the design specifications; set
      forth in Annex 1, the Purchaser shall notify the Seller of such
      non-compliance The Seller shall then take forthwith all appropriate
      measures, at its own expense, to remedy such non-compliance of the
      Equipment and shall inform the Purchaser of all measures taken in that
      respect If the design is satisfactory to the Purchaser, the Purchaser
      shall confirm its acceptance of ft design to the Seller.

      All disputes between Seller and Purchaser concerning the design
      specifications; shall be submitted to arbitration as set forth in Article
      14.


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3.2   Without prejudice to any other rights of the Purchaser under this
      Agreement or under any laws the Seller shall allow the Purchaser or any
      person designated by the Purchaser to carry out a first inspection and
      testing of the Equipment prior to shipment The Seller shall notify the
      Purchaser when the Equipment shall be available for such inspection and
      testing and the Parties shall agree in good faith on the timing of such
      inspection and testing. The Seller shall provide the Purchaser or any
      person designated by the Purchaser with all necessary assistance for
      carrying out such inspection.

      If, after inspection and completion of the testing, the Equipment does not
      comply with the technical specifications set forth in Annex I and/or if
      the Equipment is defective, the Purchaser shall notify the Seller of such
      non-compliance or defects. The Seller shall then take forthwith all
      appropriate measures, at its own expense, to remedy such non compliance or
      defects prior to the delivery of the Equipment and shall notify the
      Purchaser of all measures taken in that respect If the inspection and
      testing is satisfactory to the Purchaser, the Purchaser shall notif the
      Seller that the Equipment can be shipped. All disputes between Seller and
      Purchaser concerning the compliance of the Equipment with the design
      specifications shall be submitted to arbitration as set forth in Article
      14.

3.3   The Seller shall be solely responsible for arranging, at its own cost and
      expense, appropriate transportation, and for taking out all necessary
      insurance covering damage and/or loss or theft of the Equipment during the
      transportation in order to deliver the Equipment pursuant to article 4
      hereunder, free of any taxes (other than VAT), charges, duties or other
      rights.

3.4   The Equipment shall be suitably packed, at Sellers cost so as to avoid
      damage, destruction or theft during transportation.

Article 4 - Delivery and Installation

4.1   The Parties hereby mutually agree that the due and timel delivery and
      installation of the Equipment is of the essence of this Agreement

      The Seller shall (i) deliver and offload the Equipment a the Purchaser's
      plant in Haasrode, prior to or on the last Business Day of a period of
      twenty (20) weeks after the signing date of this Agreement and (ii)
      complete the Installation of the Equipment at the Purchaser's plant prior
      to or on the last Business Day of a period of twenty-three (23) weeks
      after the signing date of this Agreement (such date, the "Installation
      Completion Date). Notwithstanding the foregoing, Seller and Purchaser
      shall endeavor to complete all of their responsibilities to have the
      Equipment delivered and Installed in advance of the Installation
      Completion Date, as soon as reasonably practicable after the date of this
      Agreement The Seller shall be solely responsible for completing the
      Installation of the Equipment at its costs to the satisfaction of the
      Purchaser, except that the pre-installation costs at the premises of the
      Purchaser will be at the charge of the Purchaser, as well as so-called
      hook-up costs, for example: connection of electa, fluida, exhausts. Each
      party shall be responsible for the due and timely performance of its
      obligations with respect to the Installation in such a manner that the
      Installation can be completed within three weeks following the arrival of
      the Equipment at the Purchasers plant in Haasrode, Belgium.


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4.2   If the completion of the Installation is delayed for any reason whatsoever
      or if the Seller has any reason to anticipate that the Installation
      Completion Date shall not be met the Seller shall forthwith inform the
      Purchaser of such fact

      Without any prejudice to any other remedies, in case the Seller has not
      completed the Installation of the Equipment by the Installation Completion
      Date and such delay is not caused by an event of Force Majeure or through
      any action or inaction of the Purchaser, the Seller shall, at the request
      of the Purchaser refund to the Purchaser, within two (2) Business Days
      following request therefor from the Purchaser, any portion of the purchase
      price already paid to the Seller by the Purchaser.

      As a surety for the undertakings of the Seller under thi section 4 (as
      more fully set forth in the Letters of Credit), the Seller shall provide
      the Purchaser with the Letters of Credit in the forms as attached to this
      Agreement as Annex 11 and Annex Ill.

      If the Seller has not completed the Installation of the Equipment by the
      Installation Completion Date, and such delay is not caused by an event of
      Force Majeure or through any action or inaction of the Purchaser, the
      Purchaser shall automatically and without further notice, and without
      prejudice to any other rights under this Agreement or any laws, be
      entitled to terminate this Agreement and to purchase equipment similar to
      the Equipment from any other seller or manufacturer. For th avoidance of
      any doubt it is understood and hereby confirmed by the Seller that the
      Purchaser shall be entitled, without the further consent of the Seller and
      notwithstanding any stipulation to the contrary, to utilize this
      replacement equipment to manufacture the Licensed Products under the
      Manufacturing Agreement and Patent Licensing Agreement

Article 5 - Acceptance

5.1   The Equipment shall be subject to inspection and testing by the purchaser.
      Such inspection shall take place in accordance with the provisions and the
      timing stipulated in Article 4.2. The Purchaser shall never be deemed to
      hav accepted the Equipment as long as such inspection and testing have not
      been accomplished successfully.

5.2   As long as the Purchaser has not accepted the Equipment in the manner
      provided for under section 5.3 hereof, the Purchaser shall be entitle to
      reject the Equipment if it does not comply with the Equipment
      specifications set forth in Annex I or otherwise agreed upon in writing at
      the occasion of the inspection and testing performed prior to shipment
      pursuant to section 3.2. In such case, the Purchaser shall return the
      non-complying Equipment to the Seller, at the Sellers risk and expense,
      and the Seller shall reimburse the Purchaser for any portion of the
      purchase price paid

5.3   Once the Purchaser has completed its inspection and testing of the
      Equipment and has established that the Equipment is operating to the
      reasonable satisfaction of the Purchaser in accordance with the
      specifications set forth in Annex 1, the Purchaser shall accept the
      Equipment by delivering a written certificat of acceptance to the Seller.

5.4   Acceptance of the Equipment or payment of the purchase price by the
      Purchaser or any reimbursement by the Seller under the preceding sections


<PAGE>

      shall be without prejudice to any other right the Purchaser may invoke
      under this Agreement or otherwise in relation to defects or non-compliance
      of the Equipment.

Article 6-Risk and title to the Equipment

      Unless otherwise agreed in writing between the Parties, title to the
      Equipment shall pass to the Purchaser upon delivery to the Seller of the
      written certificate of acceptance for the Equipment Risk of loss of the
      Equipment shall pass to the Purchaser on delivery thereof to the
      Purchaser's facility in Haasrode, Belgium.

      Terumo and its insurers declare to waive all recourse they could exercise
      against Univec and its agents or employees for any acts performed during
      the Installation of the Equipment at the premises of the Purchaser, except
      for wilful or malicious acts on their part

Article-7 Purchase price and payment

7.1   The purchase price to be paid by the Purchaser to the Seller for the
      purchase of the Equipment shall be in the amount of [OMITTED CONFIDENTIAL
      INFORMATION] by bank transfer to the account at FIBI Bank (Switzerland),
      Ltd., designated by the Seller or (ii) through the Purchaser Letter of
      Credit in each cas in accordance with the installments set forth in
      section 7.2.

7.2   The payment of the purchase price shall be made in with the following
      schedule:

(i)   [OMITTED CONFIDENTIAL INFORMATION] (FIBI Bank will be permitted to dispose
      of such funds in accordance with the terms of the Letter of Credit set
      forth in Annex 11) but provided that the Letters of Credit are delivered
      to the Purchaser,

(ii)  [OMITTED CONFIDENTIAL INFORMATION] Payment of this portion of the purchase
      price may be mad through the Purchaser Letter of Credit

(iii) [OMITTED CONFIDENTIAL INFORMATION] the Purchaser has no warranty claim
      against the Seller.

7.3   Prior to or simultaneously with the payment of the portion of the purchase
      price referred to in clause (i) of Section 7.2, the Purchaser shall provid
      the Seller with the Purchaser Letter of Credit in the form as attached to
      this Agreement as Annex Ill.

Article 8-Warranties of the Seller

8.1   The Seller warrants that the Equipment will be free from any defects,
      hidden or not in design, material and workmanship at the time of
      acceptance or any defects, hidden or not in design, material and
      workmanship which develop under normal use and that the Equipment will be
      fit for the purpose for which the Purchaser is purchasing the Equipment
      The Seller further warrants that the Equipment will not infringe the
      intellectual property rights of any third party.


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8.2   The Seller shall promptly and at its costs and expenses (including but not
      limited to all labor costs and traveling costs) repair or, if necessary,
      replace the materials, parts or equipment found to be defective.

8.3   Any costs and risk of transportation and replacement of th defective
      materials, parts or equipment including the costs for de-installation and
      r installation, shall be borne by the Seller.

8.4   The Seller shall have no liability under the warranties set forth in
      sections 8.1, 8.2 and 8.3 so far as any defects arise

      (i)   due to ordinary wear and tear,

      (ii)  as a result of willful damage or negligence of the Purchaser or
            damages due to inappropriate operation by the Purchaser

      (iii) in the event that the Purchaser has performed material physical
            modifications to the Equipment without the authorization by the
            Seller or any modification performed without the authorization of
            the Seller that is the cause of the defect

8.5   The Seller shall have available for performing its duties hereunder and
      delivering and installing the Equipment in due time, all required tools,
      accessories and labor.

8.6   The Seller has, and shall have caused the manufacturer to have, fully
      compiled with and will comply with all laws and regulations applicable to
      the Equipment in Belgium (including health and safety standards), as well
      as all EU regulations and legislation applicable to equipment identical to
      or of the same type as the Equipment

8.7   [OMITTED CONFIDENTIAL INFORMATION]

8.8   As a guarantee for the due performance by the Seller of its warranty
      obligations under this - Article 8, the Purchaser shall retain 5% of the
      purchase price of the Equipment until one year following the Installation
      Completion Date, it being understood that this retainer is not to be
      construed as a limitation on the rights of the Purchaser to claim full
      compensation of its prejudice if the warranty obligations of the Seller
      are not satisfied.

Article 9- Assignment of the Manufacturers' Warranties

      Without prejudice to the Seller's warranty obligations under Article 8
      above, Seller shall at the time of ordering the Equipment from the
      different manufacturers obtain from those manufacturers an undertaking,
      confirmed in writing to the Purchaser, that the manufacturers agree to
      extend their ordinary warranties directly to the benefit of the Purchaser.

Article 10- Documentation

      Seller shall provide the Purchaser with all necessary documents (including
      any relevant drawings) relating, among other, to the use, operation and
      maintenance of the Equipment including, without limitation :

<PAGE>

      o     operating instructions

      o     maintenance manuals,

      o     programming manuals,

      o     technical documentation,

      and any other documentation required according to the European Standards
      specified in the EU Machine Guidelines 89/392 EU as amended and updated.
      All such documents shall be provided free of charge to the Purchaser and
      shall be written in the English and the Dutch language.

Article 11- Cancellation

      Without prejudice to any other rights of the Purchaser under this
      Agreement or otherwise, the Purchaser shall have the right to cancel this
      Agreement in whole or in part by simple notice and without any liability
      whatsoever to the Seller in the events set forth in section 4.3 and 5.2 of
      this Agreement

Article 12- Confidentiality

      During the term of this Agreement both parties shall exchange Confidential
      Information and neither party shall, during the term of this Agreement and
      thereafter, divulge any Confidential Information relating to the other
      party's operations, products or any information obtained pursuant to this
      Agreement

      Both parties acknowledge that they have entered into Confidentiality
      Agreements with each other, separate from this Agreement.

12.1  Sellers Obligation of Confidentially

The Seller must

(a)   keep confidential all Confidential Information disclosed to it by the
      Purchaser,

(b)   keep all materials containing Confidential Information disclosed to it by
      the Purchaser secure and protect them from theft damage, loss or
      unauthorized access;

(d)   not use Confidential Information disclosed to it by th Purchaser for any
      purpose other than as contemplated by this Agreement and

(e)   ensure that obligations no less strict than those impose upon the Seller
      are observed by any of its employees or officers involved in the
      implementation of this Agreement

(e)   Acknowledge that the Purchaser has the right t forward any or all
      Confidential Information to either its parent company, namely Terumo
      Corporation, a company incorporated in Japan, and/or Terumo affiliates,


<PAGE>


      provided that Purchaser guarantees that the confidentiality undertakings
      will be passed on and be observed by its parent and affiliates.

12.2  Purchaser's Obligations of Confidentiality

The Purchaser

(a)   must keep confidential all Confidential Information disclosed to it by ft
      Seller

(b)   must keep all materials containing Confidential Information disclosed to
      it by the Seller secure and protect them from theft damage, loss or
      unauthorized access;

(c)   must not use Confidential Information disclosed to it by the Seller for
      any purpose other than as contemplated in this Agreement

(d)   must ensure that obligations no less strict than those imposed upon the
      Purchaser are observed by any of its employees or officers involved in the
      performance of its obligations under this Agreement

12.3  Disclosure to Employees

Each party may only disclose Confidential Information owned by the other party
to its employees, officers and agents (or the employees, officers or agents of
the group to which such party belongs) if such disclosure is necessary to fulfil
its obligations under this Agreement

12.4  Disclosure to Media

Each party shall refrain from issuing or conducting any interview, report or
press release regarding the existence or terms of this agreement unless the
statement is provided in advance for review by the other party and the comments
of the other party incorporated in the reasonable discretion of the disclosing
party. Further, unless the disclosing party reasonably believes it to be
required by law or rule of any stock exchange on which such party's stock is
listed or quoted, neither party shall issue any press release regarding the
existence or terms of this agreement to which the other party shall reasonably
object

11.5  Obligations survive termination

The obligations of confidentiality set out in this clause 12 survive termination
of this Agreement for a period of no more than five years after termination.

12.6  Permitted disclosures of Confidential Information

Nothing in this Section 12 prevents any party born disclosing any Confidential
Information if compelled by any law or by order of any court of competent
jurisdiction.

Article 13- Miscellaneous

            13.1  Notices


<PAGE>


      All notices to either Party shall be in writing and shall be delivered
      personally against written confirmation or receipt or sent by facsimile
      (and confirmed by registered Letter) addressed to the other Party at the
      registered office of each Party as set forth above.

      Any notice delivered by tax shall be deemed received at the time mentioned
      in the written confirmation of receipt Any notice delivered by registered
      mail shall be deemed to be received (in the absence of evidence of earlier
      receipt) five (5) days after posting.

            13.2  Waiver

      The failure of either Party to exercise any right power or option given to
      it under this Agreement or to insist upon strict compliance with the terms
      thereof by the other Party, shall not constitute a waiver of such term
      with respect to any other or subsequent breach thereof, nor be a waiver by
      either party of its rights any time thereafter to require exact and strict
      compliance with all terms thereof.

            13.3  Amendments

      Terms and Conditions may only be modified or amended by a written document
      signed by all parties hereto.

            13.4  Force Majoure

      Nether party hereto shall be liable for failure to perform, or for any
      delay in performing, any of its obligations when such failure or delay is
      caused by fire, flood, riot earthquake, accident explosion, war, shortages
      of fuel, power, raw materials, delays in transportation, seizure under
      legal process, orders or acts of any government or acts of God.

Article 14- Governing Law and jurisdiction

      This Agreement shall be governed by and interpreted in accordance with
      Belgian law. In case of disputes arising hereunder, the Parties undertake
      to pursue in good faith an amicable settlement

      If no amicable solution can be reached, the matter shall be finally
      settled by the Rules of Arbitration of the International Chamber of
      Commerce by one or more arbitrators appointed in accordance with the said
      Rules under the authority of the I.C.C. Secretariat in Paris, France.

Article 15 - Agency

      The Seller and the Purchaser agree that certain of the obligations of the
      Seller hereunder may be performed by an agent appointed by the Seller on
      the Sellers behalf, and the Purchaser expressly agrees to accept such
      performance to the extent it complies with the provisions of this
      Agreement provided that such agreement and acceptance shall not affect the
      Sellers obligation for a failure of its obligations to be performed.


<PAGE>


Article 16 - Suspensive Condition

      This Agreement shall enter into force and become binding on the Parties
      only provided that Seller shall have delivered to the Purchaser, within 10
      calendar days following the execution of the present Agreement by the
      Purchaser, the Advance Payment Guarantees, duly executed by FIBI, exactly
      in the form as shown in Annex (11) to this Agreement including as an
      attachment copies of the Letters of Credit referred to in said Advance
      Payment Guarantees, certified by FI BI and in the form as set forth in
      Annex .

      Should the Seller fail to provide the Purchaser with the Advance Payment
      Guarantees as required under this Article 16 strictly within the period
      stipulated in the preceding paragraph, this agreement shall automatically
      and without any further notice be cancelled, at the charge of the Seller,
      and neither of the Parties shall thereafter remain obligated under any of
      the terms of this Agreement except for the provisions of Article 12 and
      Article 14 which shall survive the cancellation of this Agreement In the
      event of such cancellation, Seller shall not be entitled to any claim,
      recourse or indemnity against the Purchaser for lack of profit loss of
      opportunity or otherwise.

      Should the Seller fail to provide the Purchaser with the Advance Payment
      Guarantees as required under this Article 16, within 10 calendar days
      following the execution of the present Agreement the Purchaser shall
      automatically and without further notice, and without prejudice to any
      other rights, be entitled to purchase equipment similar to the Equipment
      from any other seller or manufacturer.

      For the avoidance of any doubt it is understood and hereby confirmed by
      the Seller that the Purchaser shall be entitled, without the further
      consent of the Seller and notwithstanding any stipulation to the contrary,
      to utilize this replacement equipment to manufacture the Licensed Products
      under the Manufacturing Agreement and Patent Licensing Agreement

IN WITNESS WHEREOF, this Agreement has been duly executed by the Parties hereto
at New York/ Leuven, in No (2) original counterparts, each Party acknowledging
receipt of one duly signed original, on August 16th, 2000.

Terumo Europe N.V                                       Univec, Inc

/s/ Y. Nakajima                                     /s/ Joel Schoenfeld
---------------------------                         ----------------------------

by: Y. Nakajima                                         by:  Joel Schoenfeld


title:  Vice President                                  title: Chairman


<PAGE>


                           Annex I: Equipment Schedule

      Please refer to Document WD/id/00-277, edition 07.072000 - "Equipment
      Specification for Auto-Disable Syringes", copy attached.


<PAGE>


                   Annex II: Advance Payment Guarantee - FIBI

      We. . F.I.B.I. Bank (Schweiz) AG, Seestrasse 61, 8027 Zurich, Switzerland,
      herewith confirm to you, Terumo Europe NV (+ full name and address) that
      we have opened by order of Syrinter Ltd. (+ full name and address), ##
      irrevocable L/C's to cover the purchase of the following equipment:

      -

      -

      -


      Enclosed herewith are copies of the above mentioned L/C's, all certified
      true and correct by ourselves: these copies all form an integral part of
      this guarantee; these copies do not show the L/C amounts. These L/C's are
      all available for payment at sight at our counters.

      In case that for one or more of the above mentioned UC's, no documents or
      documents containing discrepancies will be presented at our counters
      within their respective expiry dates, we herewith guarantee you
      irrevocably and unconditionally that we shall pay to you automatically an
      amount of [OMITTED CONFIDENTIAL INFORMATION] with Fortis Bank NV, Leuven
      branch, Belgium (swift GEBABEBB08A), at the latest 10 (ten) working days
      after the expiry of said UC's.

      We commit ourselves irrevocably to inform Terumo Europe NV by courier
      service (DHL or similar) at the latest on the first working day after each
      of the above mentioned L/C's expiry dates about the fact whether conform
      documents were presented or not at our counters.

      We also commit ourselves not to amend or cancel the above mentioned L/C's
      without your prior written consent

      If we fail to comply with these commitments, this will imply automatically
      that we have to effect payment of the above mentioned amount of [OMITTED
      CONFIDENTIAL INFORMATION] as stated above in favor of Terumo Europe NV.

      This guarantee will expire at the latest on ................ (latest 15
      working days after the expiry date of all above mentioned L/C's).

      Partial payments under this guarantee are not allowed.

      This guarantee will enter into force immediately after the advance payment
      of .................. will have been effected by Terumo Europe NV in favor
      of account no. .................... of Syrinter Ltd. held with ourselves.

      Dated ................... at ....................

      For F.I.B.I. Bank (Schweiz) AG:

      ------------------------
      Authorized signatures


<PAGE>


                      Annex III: Purchaser Letter of Credit

From : Fortis Bank (formerly Generale Bank), Leuven, Belgium (swift address
:GEBABEBB)


To: (advising bank - beneficiary's bank)


40a   Form of Doc. Credit      Irrevocable

20    Doc. Credit number       (Fortis bank's reference)

31d   Expiry : date/place      Date: February 5th, 2001     Place: New York

50    Applicant (buyer)        TERUMO EUROPE NV
                               Research Park 2 Haasrode, Interleuvenlaan 40
                               B-3001 Leuven, Belgium

59    Beneficiary (seller)     UNIVEC (full name and address)

32b   Currency/Amount          Currency: [OMITTED  Amount: [OMITTED CONFIDENTIAL
                                         CONFI-            INFORMATION]
                                         DENTIAL
                                         INFORM-
                                         ATION]
39b   Max. Red. Amount         Maximum

41    Available with /by       With: Fortis Bank, Leuven   By:  Payment at sight

45a   Description of goods     Delivery and installation of equipment for the
                               production of auto-disable syringes as per
                               Equipment Purchase Agreement, dated _____

46a   Documents required       1. Original and 3 copies of beneficiary's
                                  manually signed commercial invoice.

                               2. Certificate of final acceptance of the
                                  completion of the Installation of the
                                  equipment at applicant's plant in Leuven,
                                  signed by Messrs ____________ and/or
                                  ____________ as representative(s) of
                                  applicant.

                                       Specimen signatures of both Messrs
                                  ____________ and ____________ are sent to you
                                  by DHL courier and form an integral part of
                                  this L/C.

47a   Additional conditions    This L/C is subject to U.C.P. for Documentary
                               Credits (1993 revision) ICC publication no. 500.

                               This L/C covers 45 percent of the above mentioned
                               Equipment Purchase Agreement (see field 45a) :
                               the commercial invoice as mentioned in field 46a
                               should be made out for the full agreement value,
                               showing down payment outside this L/C of 50
                               percent effected ; balance of 5 percent of the
                               Agreement value is also payable outside this L/C.

                               All documents presented must bear this L/C's
                               number.

71b   Details of charges       All bank charges outside Belgium for
                               beneficiary's account.

49    Confirmation             Without

78    Bank instructions        We shall cover you as per your instructions after
                               receipt of documents complying with L/C terms at
                               our counters.