LICENSE AGREEMENT AND TECHNOLOGY TRANSFER AGREEMENT

THIS AGREEMENT is made as of the 30th day of September, 2004 (the "Effective
Date"), by and between Calypte Biomedical Corporation ("Calypte"), a corporation
organized under the laws of the State of Delaware, U.S.A. and Ani Biotech Oy
("Ani"), a corporation organized under the laws of the country of Finland.

RECITALS

WHEREAS, Calypte develops, manufactures, markets and sells human in vitro
clinical diagnostic tests for the detection of human infectious agents in the
worldwide professional clinical diagnostic markets.

WHEREAS, Ani develops, manufactures, markets and sells various human in vitro
clinical diagnostic rapid tests under their own brand name or the brand name of
other parties for the worldwide professional and over-the-counter (OTC) clinical
diagnostic markets, and has applied for patents describing certain lateral-flow
rapid test devices and sample applicators.

WHEREAS, Ani desires to license and transfer to Calypte certain technology owned
by Ani that is related to the development, manufacture and sale of certain human
in vitro clinical diagnostic rapid tests.

WHEREAS, Calypte desires to develop, manufacture and sell on a worldwide basis
in the professional and OTC clinical diagnostic markets certain human in vitro
clinical diagnostic rapid tests based on technology owned by Ani.

NOW THEREFORE, the parties hereto agree as follows:

1. Definitions.

      1.1. "Affiliate" shall mean any corporation or other business enterprise
controlled by, controlling or under common control by Entity. For purposes of
this paragraph, "control" shall mean, with respect to an entity, direct or
indirect beneficial ownership of more than fifty percent (50%) of the voting
stock or equity.

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

      1.2. "Analytes" shall mean HIV, HPV, Hepatitis B, Hepatitis C, Syphilis,
Gonorrhea, and Chlamydia.

      1.3. "Best Price" shall mean the actual number of shares of Calypte common
stock transferred to Ani at any given time which shall be determined by using
the 5-day average closing stock price for Calypte common stock as listed on the
American Stock Exchange (AMEX) immediately before the date of said transfer,
provided however, the price at the time of transfer is equal to or greater than
the Threshold Price.

      1.4. "Confidential Information" of a party shall include any and all
material and information of such party whether identified as confidential
information or not, including, without limitation, ideas, inventions (whether
patentable or not), designs, product concepts, improvements, manufacturing
processes, quality standards, trade secrets, technical information relating to
ongoing research and development, business strategies, marketing plans, customer
lists, and financial data.

      1.5. "Currency Exchange Rate" shall mean the conversion from US Dollars to
Euros at the exchange rates posted by the Federal Reserve Bank of New York,
representing the 12 Noon Eastern Time buying rates on the day of said
conversion.

      1.6. "Entity" shall mean any corporation, partnership, joint venture, or
other such business organization.

      1.7. "Field of Use" shall mean human in vitro clinical diagnostic and
non-therapy screening rapid tests.

      1.8. "Improvement" shall mean all improvements and modifications made to
Licensed Technology or to Manufacturing Equipment by Ani during the term of this
Agreement.

      1.9. "License Fee" shall mean the license fee set forth in Section 3
hereof payable by Calypte to Ani for the licenses granted hereunder.

      1.10. "Licensed Products" shall mean human in vitro clinical diagnostic
and non-therapy screening tests incorporating Licensed Technology which are
designed by Calypte to detect Analytes in human blood, serum, plasma, urine,
oral fluids, or urogenital swabs.

      1.11. "Licensed Technology" shall mean human in vitro clinical diagnostic
and non-therapy screening rapid test and sample applicator device technology
described in: (i) European Patent Application *, and all issues, reissues,
amendments, divisions, continuations, continuations-in-part, and corresponding
foreign counterparts thereof; (ii) Finnish Patent Application *, and all issues,
reissues, amendments divisions, continuations, continuations-in-part, and
corresponding foreign counterparts thereof; and, (iii) all confidential know-how
proprietary to Ani needed to assist Calypte in developing and manufacturing
Licensed Products.

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

      1.12. "Manufacturing Equipment" shall mean all equipment set forth in
Section 5.1 and listed in Exhibit A.

      1.13. "Net Sales" shall mean the gross amount invoiced by Calypte or its
Affiliate from the sale of a Licensed Products to a Third Party within the
Territory and Field of Use, less the following actually incurred by Calypte as a
result of such amounts invoiced: shipping costs, insurance costs, custom duties,
sales tax, VAT, promotional discounts, rebates and returns. If Licensed Products
are sold in the form of a combination product containing one or more diagnostic
tests that are not Licensed Products under this Agreement, Net Sales for such
combination product shall be calculated by multiplying actual Net Sales of such
combination product by the fraction A/(A+B), where A is the list price in the
relevant country of the Licensed Product if sold separately and B is the total
list price in the relevant country of any other diagnostic tests in the
combination if sold separately. If, on a country-by-country basis, the Licensed
Products and other diagnostic tests contained in a combination product are not
sold separately in such country, the Net Sales of such combination product shall
be determined by multiplying the Net Sales of such combination product by the
fraction A/(A+B), where A is the number of Licensed Products in the combination
product and B is the number of other diagnostic tests in the combination product
that are not Licensed Products. The total of A+B shall not exceed two (2).

      1.14. "Territory" shall mean the worldwide professional and OTC human in
vitro clinical diagnostic markets.

      1.15. "Third Party" shall mean any party other than Calypte or Ani or an
Affiliate of either Calypte or Ani.

      1.16. "Threshold Price" shall mean a per share price for Calypte common
stock equal to or greater than $0.40.

      1.17. "Valid Patent Claims" shall mean any claim of any unexpired patent
covering Licensed Technology that has not been revoked, or held to be
unenforceable or invalid by a decision of a court or other government agency,
unappealable or unappealed within the time allowed for appeal.

2. Grants and Licenses.

      2.1. Subject to payment of the License Fee set forth in Section 3 and
royalties on net sales set forth in Section 4 as well as compliance with other
terms of this Agreement, Ani grants Calypte the following royalty-bearing
licenses to Licensed Technology and any Improvement within the Field of Use in
the Territory:

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

            2.1.1. Ani grants Calypte an exclusive license to make, use,
develop, have developed, manufacture, have manufactured, offer to sell, sell and
have sold Licensed Products utilizing urine or oral fluid as the sample material
under the Calypte brand name or the brand name of a Third Party; and,

            2.1.2. Ani grants Calypte a non-exclusive license to make, use,
develop, have developed, manufacture, have manufactured, offer to sell, sell and
have sold Licensed Products utilizing blood, serum, plasma, or urogenital swab
as the sample material under the Calypte brand name or the brand name of a Third
Party.

      2.2. Calypte shall have the right to sublicense to Affiliates of Calypte
the licenses granted in this Section 2. Calypte shall secure and be fully liable
that all sublicensees comply with all the terms of this Agreement, as
applicable.

      Calypte shall be liable for all claims of product liability resulting from
the manufacturing, marketing, sale and distribution of the Licensed Products by
Calypte, its Affiliates and its distributors. Calypte shall indemnify and hold
harmless Ani, its directors, employees and stockholders against any and all
third party liability claims resulting from the manufacturing, marketing, sale
and distribution of the Licensed Products.

3. License Fee.

      3.1. In consideration of the grant of the licenses set forth in Section 2,
Calypte shall pay Ani a non-refundable License Fee as follows:

        3.1.1.   *

        3.1.2.   *

      3.2. The License Fee paid by Calypte in Section 3.1 shall give Calypte the
right to incorporate any Improvement made by Ani into Licensed Products at no
additional cost to Calypte.

4. Royalties.

      4.1. Calypte shall pay Ani royalties on Net Sales of Licensed Products
according to the royalty rate schedule set forth in Exhibit B attached hereto.

            4.1.1. In the event Licensed Products contain more than one Analyte
per rapid test device, the royalty rate for such Licensed Products shall be
equal to the numerical average of the individual royalty rates set forth in
Exhibit B attached hereto for the individual Analytes contained in such Licensed
Products.

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

      4.2. Calypte's obligation to pay royalties hereunder shall exist until the
expiration of the last of any Valid Patent Claims. In the event no patents
covering Licensed Technology issue in the United States of America and it is
evident that such patent will not be issued, Calypte's royalty obligation shall
terminate in the United States of America on the tenth (10th) anniversary of the
Effective Date.

      4.3. All royalty payments payable under this Agreement shall be paid on a
quarterly basis, within forty-five (45) days after March 31st, June 30th,
September 30th and December 31st of each year.

      4.4. All royalty payments paid by Calypte under this Agreement shall be
paid in the lawful currency of the European Union (euros).

      4.5. Calypte shall keep, and shall require its Affiliates to keep, true,
complete and accurate books of accounts and records together with supporting
documentation for Licensed Products made, used or sold under this Agreement in
accordance with generally accepted accounting principles as applied in the
United States appropriate to determine the amount of royalties due hereunder and
their proper payment. Such records and supporting documentation shall be open
during normal business hours upon reasonable advance notice, at mutually agreed
upon times, for the longer of three (3) years or the time during which such
material should be held in accordance with applicable accounting regulations
following the end of the calendar year to which they pertain, to the inspection
of an independent certified public accountant retained by Ani for the sole
purpose of verifying the accuracy of the royalty payments made to Ani hereunder.
Such certified public accountant shall be entitled to obtain copies of any of
Calypte's or its Affiliates' documents reasonably necessary for the verification
of the amount of royalties and their proper payment. If in dispute, such records
shall be kept until the dispute is settled. Inspection shall be at Ani's
expense, unless the inspector concludes that the amount payable that is stated
in a report is understated by two percent (2%) or more or royalties were not
paid when due, in which case Calypte shall in addition to any other remedy that
may be available to Ani at law or in equity, pay Ani's reasonable expenses
incurred in connection with the inspection shall be paid by Calypte. The Parties
agree that any certified public accountant inspecting Calypte's books pursuant
to this Section 4.3 shall not disclose to Ani any information other than
information relating to the accuracy of reports and payments made hereunder.
Such accountant shall be required to execute an agreement with Calypte agreeing
to the confidentiality provisions set forth in this Section 4.3. Information
disclosed to Ani as a result of an inspection shall be subject to the
confidentiality provisions set forth in Section 8.

      4.6. In the event Calypte fails to pay the royalties described in this
Section 4 and Exhibit B on or before the last day of the time period set forth
in Section 4.2, such royalties shall bear interest from and after such date
until paid at a per annum rate equal to the US prime lending rate (Prime Rate)
plus three (3) percent as quoted in The Wall Street Journal for the thirty (30)
day period ending on the payment due date. Each such royalty payment when made
shall be accompanied by all accrued and unpaid interest. Ani shall also be
entitled to compensation for its reasonable collection costs.

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

      4.7. Calypte shall, within forty-five (45) days after March 31st, June
30th, September 30th and December 3lst of each year of this Agreement, deliver
to Ani a true and accurate written accounting royalty report for each calendar
quarter. Each such report shall set forth per Licensed Products per Analyte per
each country in which the Licensed Products have been sold: (i) the Net Sales;
(ii) all deductions from Net Sales made by Calypte pursuant to Section 1.10;
(iii) the royalties payable by Calypte to Ani pursuant to Section 4.1 and
Exhibit B; and, (iv) the product description/name per catalog code. Calypte
shall cooperate fully with any request by an authority or court to deliver
information about the buyers of Licensed Products distributed by Calypte or its
Affiliates.

      4.8. Each royalty report shall be made and sent by the due date to the
following addressees or any other address that Ani may provide in writing:

                           Ani Biotech Oy
                           Museokatu 13 B
                           00100 Helsinki Finland
                           Attn:  Dr. Aimo Niskanen, CEO
                           Telephone:  +358-20-1557515
                           Facsimile:  +358-20-1557517
                           Email:  aimo.niskanen@anibiotech.fi

5. Purchase of Manufacturing Equipment.

      5.1. Calypte shall purchase Manufacturing Equipment according to the
following price schedule:

                                    Quantity                  Purchase Price
*
                                           *                              *
*
                                           *                              *
*
                                           *                              *
*
                                           *                              *
*
                                           *                              *
                             Total Purchase Price:                        *

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

      5.2. The purchase price for Manufacturing Equipment set forth in Section
5.1 shall include: (i) installation at a Calypte designated facility; (ii) a one
(1) year factory warranty for parts and labor; (iii) reasonable training of
Calypte personnel in the use and maintenance of the said equipment at the
facilities of Ani in Finland on a time as mutually agreed between the parties;
and, (iv) a reasonable supply of spare parts as mutually agreed between the
parties.

5.3. Calypte shall make payment for the purchase of Manufacturing Equipment set
forth in Section 5.1 according to the following schedule:

        5.3.1.   *

        5.3.2.   *

        5.3.3.   *

      5.4. In the event Ani shall make improvements to Manufacturing Equipment,
Ani shall make available to Calypte all such improvements at mutually agreed
terms.

      5.5. Ani shall provide Calypte at no additional cost all existing and any
updated engineering drawings, diagrams, schematics and blueprints for all molds
used to manufacture all plastic sample applicator device parts and rapid test
device parts assembled by Manufacturing Equipment to be used solely within the
limits of the license granted in Section 2. Ani shall remain the owner of, and
shall retain all rights in and to, all such technical documentation.

      5.6. Calypte shall have the option to purchase all plastic sample
applicator component device parts and rapid test device component parts
assembled by Manufacturing Equipment directly from Ani at a price to be mutually
agreed between the parties. In no case shall the price paid by Calypte exceed
one hundred twenty percent (120%) of the price Ani pays for said component
parts. In the event, Ani's purchase price for said component parts decreases due
to the increased unit volume resulting from Calypte's purchase of said component
parts, Calypte shall be granted the same discount from the supplier as Ani for
the purchase of said component.

      5.7. Ani shall provide Calypte with a fully annotated detailed
Bill-of-Materials (BOM) for all parts assembled by Manufacturing Equipment to be
used solely for the purpose of repair of and acquiring of spare parts for the
Manufacturing Equipment. Such BOM shall include the units required per
sub-assembly, a listing of all vendors for component parts, sub-assemblies and
final assemblies, and any other information necessary to identify the requisite
parts needed for each sub-assembly and final assembly.

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

      5.8. Both parties shall conduct quality control and assurance testing on
Manufacturing Equipment prior to shipment to Calypte in order to confirm that
Manufacturing Equipment functions in accordance with the technical
specifications set forth in Exhibit A or documentation delivered together with
Manufacturing Equipment.

      5.9. Ani shall package and ship Manufacturing Equipment to Calypte's
designated facility. Manufacturing Equipment shall be properly packaged and
labeled in accordance with industry standards and customs at Ani's expense. All
such shipments shall be FOB Helsinki, Finland.

      5.10. Manufacturing Equipment received by Calypte at Calypte's designated
facility shall be subject to quality control testing by Calypte; such quality
control procedures used by Calypte to test Manufacturing Equipment shall be the
same quality control testing procedures used by Ani, and agreed to by Calypte,
to test Manufacturing Equipment prior to shipment from Finland.

      5.11. In the event there is a defect or non-conformity in Manufacturing
Equipment upon receipt by Calypte at Calypte's designated facility, Ani shall
promptly correct or repair such defect or non-conformity at Calypte's designated
facility, or in the event Ani is unable to promptly effect said repair, Calypte
shall have the right to return any such defective Manufacturing Equipment to Ani
for replacement. The shipping cost for returning any defective equipment shall
be at Ani's sole expense.

      5.12. Any remarks or reclamations regarding Manufacturing Equipment shall
be made within two (2) weeks from the date of completion of installation by Ani
at Calypte's designated facility. Should Ani not receive any such notices or
remarks from Calypte stating non-compliance of such equipment by the end of the
two (2) week period following completion of its installation, Calypte shall be
deemed to have approved and accepted the delivery and installation of such
equipment.

6. Technology Transfer.

      6.1. Ani and Calypte shall work together to reformat Calypte's current HIV
dipstick rapid test device and assay to perform as Licensed Products
(hereinafter known as the "Project"). Prior to commencing work on the Project,
Ani and Calypte shall prepare a mutually agreed upon research plan (hereinafter
known as the "Scope of Work") to define specifications, milestones and goals.
The results of the Project shall be the sole and exclusive property of Calypte.

      6.2. Ani and Calypte shall each be responsible for their own costs during
the Project and the transfer of Licensed Technology from Ani to Calypte. Calypte
may, under mutually agreed terms, hire Ani to consult on the further development
of Licensed Products in preparation for the commencement of human clinical
trials.

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

      6.3. Each party shall designate a Project Director to represent their
interests and serve as a central point of contact during the Project and the
transfer of Licensed Technology from Ani to Calypte.

      6.4. As part of the Project, Ani shall permit a reasonable number of
technical personnel designated by Calypte to study the design and manufacture of
products resulting from the Project at Ani's place of business. Calypte shall
advise Ani, in advance, the names, qualifications and probable lengths of stay
of Calypte's designated personnel desiring to visit Ani. Ani shall make
available qualified personnel for consultation with, and training of such
Calypte's personnel. The cost for transportation, meals, lodging and other
expenses of Calypte's personnel dispatched for training shall be borne by
Calypte. Such Calypte's personnel shall fully comply with Ani's security
regulations and personnel rules.

      6.5. As part of the Project, Ani shall transfer to Calypte all know-how
necessary to allow Calypte to develop and manufacture Licensed Products
including but not limited to all specifications for reagents and materials,
formula, manufacturing, analytical and testing procedures, release, packaging,
and other processes contained in any document related to Licensed Technology,
Licensed Products and the Project including all master formulas and process flow
diagrams.

      6.6. The transfer of Licensed Technology from Ani to Calypte shall be
accomplished in three (3) phases, and Licensed Technology shall be deemed
transferred upon the successful completion of Phase 3 as set forth below:

            6.6.1. Phase 1: Ani and Calypte shall demonstrate a laboratory-scale
prototype of an HIV-1/2 rapid test based on Licensed Technology meeting the
specifications set forth in the Scope of Work.

            6.6.2. Phase 2: Ani and Calypte shall demonstrate, at Ani's
facility, the successful pilot-scale manufacturing of the HIV-1/2 rapid test
developed in Section 6.6.1 using the Manufacturing Equipment purchased by
Calypte.

            6.6.3. Phase 3: Ani and Calypte shall demonstrate, at Calypte's
facility, the successful pilot-scale manufacturing of the HIV-1/2 rapid test
developed in Section 6.6.2 using the Manufacturing Equipment purchased by
Calypte.

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

7. Payments.

      7.1. Common Stock Payments.

        7.1.1.   *

        7.1.2.   *.

                7.1.2.1. *

        7.1.3.   *

        7.1.4.   *

      7.2. Cash Payments.

                          *

      7.3. In the event that any taxes, withholding or otherwise, are levied by
any government taxing authority in connection with accrual or payment of any
royalties payable to Ani under this Agreement, Calypte shall have the right to
pay such taxes to the local tax authorities on behalf of Ani and the payment to
Ani of the net amount due, after reduction by the amount of such taxes, shall
fully satisfy Calypte's royalty obligations under this Agreement, provided that
appropriate documentation of such tax payment, including evidence of payment and
receipt or any other appropriate documentation, is provided to Ani.

8. Confidentiality.

      8.1. Each party shall protect all Confidential Information of the other
party with the same degree of care as it uses to avoid unauthorized use,
disclosure, publication or dissemination of its own confidential information of
a similar nature, but in no event less than a reasonable degree of care.

      8.2. Except as provided in this Agreement, neither party shall use for its
own benefit or the benefit of any Third Party, or disclose, publish, release,
transfer or otherwise make available to any Third Party, any Confidential
Information of the other party without the other party's prior written consent.
Each of Calypte and Ani, however, shall be permitted to disclose Confidential
Information of the other to contractors and Third Parties, and its employees,
Affiliates, accountants, attorneys and other agents to the extent such
disclosure is reasonably necessary for the performance of its duties and
obligations hereunder or, with respect to Calypte, its use and enjoyment of the
Licensed Technology and Improvements. Each of Calypte and Ani shall be
responsible for any violation of the confidentiality obligations set forth
herein by any of the foregoing.

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

      8.3. The obligations in this Section 8 shall not restrict any disclosure
of Confidential Information received by one party (the "Receiving Party") from
the other party (the "Disclosing Party") where the Receiving Party can
demonstrate that: (a) such Confidential Information was independently developed
by the Receiving Party prior to its receipt thereof without violating its
obligations hereunder or any of the Disclosing Party's proprietary rights; (b)
such Confidential Information is or becomes publicly known (other than through
the unauthorized disclosure by the Receiving Party); (c) such Confidential
Information was already known to the Receiving Party prior to its receipt
thereof without any obligation of confidentiality; (d) such Confidential
Information is received by the Receiving Party from a Third Party without any
obligation of confidentiality; or (e) the Receiving Party is required to do so
pursuant to any applicable law (provide that the Receiving Party shall provide
reasonable prior written notice to the Disclosing Party of such disclosure).

      8.4. In addition to the foregoing, nothing contained in this Agreement
shall supercede the confidentiality requirements set forth in the
Confidentiality Agreement signed by the parties dated February 2, 2004, and its
Amendment signed by the parties on February 29, 2004 shall remain in full force
and effect.

9. Joint Investigation *

        9.1.     *

        9.2.     *

10. Term and Termination.

      10.1. This Agreement, unless earlier terminated in accordance with the
terms set forth herein, shall continue until the expiration of all Valid Patent
Claims. In the event no patents covering Licensed Technology issue in the United
States of America within ten (10) years of the Effective Date, this Agreement
shall terminate with respect to the United States of America but shall remain in
force and effect outside of the United States of America until expiration of all
Valid Patent Claims.

      10.2. This Agreement may be terminated by Calypte at any time by giving
written notice to Ani. The termination shall be effective six (6) months after
the date of notice. If the Agreement is terminated by Calypte, Calypte shall
cease manufacturing and selling Licensed Products within six (6) months after
the date of said notice.

      10.3. This Agreement may be terminated by Ani if Calypte materially
breaches this Agreement and Calypte has not cured such material breach within
ninety (90) days after receipt of written notice to Calypte by Ani specifying
the nature of such alleged material breach. Failure of Calypte to pay any amount
specified under this Agreement within thirty (30) days after the due date shall
be deemed a material breach, which shall entitle Ani to terminate the Agreement
with immediate effect with a written notice to Calypte.

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

      10.4. This Agreement shall terminate upon (i) an adjudication of Calypte
as bankrupt or insolvent, or admission in writing of its inability to pay its
obligations as they mature; (ii) an assignment of this Agreement by either Party
for the benefit of creditors; (iii) the appointment of, or Calypte applying for
or consenting to the appointment of, a receiver, trustee or similar officer for
a substantial part of its property; (iv) the institution of or any act of
Calypte instituting any bankruptcy, insolvency arrangement, or similar
proceeding; or (v) the issuance or levy of any judgment, writ, warrant of
attachment or execution or similar process against a substantial part of the
property of Calypte. Calypte may apply for reinstatement of this Agreement if
either of conditions (iii) or (v) is removed within ninety (90) days.

      10.5. Section 8 (Confidentiality), Section 10 (Term and Termination),
Section 11 (Dispute Resolution), Section 12 (Representations, Warranties and
Limitation of Liability), and Section 13 (General Provisions) shall survive
termination of this Agreement.

11. Dispute Resolution.

      11.1. Any dispute, controversy or claim arising from or relating to this
Agreement, or the breach, termination or invalidity thereof, will be settled by
arbitration in Hamburg, Germany, in accordance with the Rules of Arbitration of
the International Chamber of Commerce (the "Rules") by one or more arbitrators
appointed in accordance with the Rules. The award of the arbitration will be
final and binding upon the parties without appeal or review except as permitted
by German law. 12. Representations, Warranties and Limitation on Liability.

      12.1. Calypte represents and warrants: (a) It is a corporation validly
existing and in good standing under the laws of the State of Delaware; (b) The
execution, delivery and authority to execute and deliver this Agreement have
been duly authorized by all necessary corporate action on the part of Calypte;
(c) It has the corporate power and authority to execute and deliver this
Agreement and to perform its obligations under this Agreement; and, (d) All
shares of Calypte common stock have been duly authorized and upon issuance,
pursuant to the terms hereof and for the consideration herein set forth, will be
validly issued, fully paid and nonassessable.

      12.2. Ani represents and warrants: (a) It is a corporation validly
existing and in good standing under the laws of the country of Finland; (b) The
execution, delivery and authority to execute and deliver this Agreement have
been duly authorized by all necessary corporate action on the part of Ani; (c)
It has the corporate power and authority to execute and deliver this Agreement
and to perform its obligations under this Agreement; (d) Other than the grant
set forth herein, Ani has not encumbered, restricted, transferred or otherwise
burdened the Licensed Technology or Manufacturing Equipment; (e) It is not aware
of any claim of infringement by any other party in and to the Licensed
Technology; (f) Manufacturing Equipment shall be merchantable and fit for the
particular purpose it is being sold for hereunder; and, (g) Except as expressly
set forth herein, Ani hereby disclaims and negates any and all warranties,
whether express or implied, with respect to the Licensed Technology and
Improvement, or any rights hereunder transferred, including but not limited to,
any IMPLIED WARRANTY OF MERCHANTABILITY, NON-INFRINGEMENT OR FITNESS FOR ANY
PARTICULAR PURPOSE. Without limiting the generality of the foregoing, Ani makes
no representations or warranties as to the patentability, noninfringement, use
or other application of the Licensed Technology or any Improvement, or as to the
likelihood of the success of any research, development, testing, marketing or
other utilization of the Licensed Technology or any Improvement.

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

      12.3 Under no circumstances shall either party be liable to the other
party for any consequential, incidental, special, indirect or exemplary damages
arising out of or related to this Agreement, whether in contract, tort, strict
liability or any other legal theory, including without limitation, damages for
loss of profits, business interruption, or for any claim or demand against one
party by any other party, or other pecuniary loss.

13. General Provisions.

      13.1. Neither this Agreement nor any rights or obligations of a Party
under this Agreement may be assigned in whole or in part by such Party without
the prior written consent of the other Party, except that each Party may assign
this Agreement to an Affiliate or in connection with any merger, reorganization,
or consolidation with or into another Entity, or any sale or transfer of any of
its assets or business to a Third Party, provided however, the Third Party
agrees in writing to assume the assigning Party's obligations under this
Agreement. Any attempted assignment in violation hereof will be void.

      13.2. This Agreement will bind and inure to the benefit of the respective
successors and permitted assigns of the parties.

      13.3. This Agreement shall be construed and enforced in accordance with
the laws of the country of Germany without giving effect to its conflicts of law
principles.

      13.4. If any provision of this Agreement is unenforceable or invalid under
any applicable law or is so held by applicable court decision, such
unenforceability or invalidity will not render this Agreement unenforceable or
invalid as a whole and such provisions will be changed and interpreted so as to
best accomplish the objectives of such unenforceable or invalid provision within
the limits of applicable law or applicable court decisions.

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

      13.5. The failure of either party to require performance by the other
party of any provision of this Agreement will not affect the full right to
require such performance at any time thereafter; not will the waiver by either
party of a breach of any provision of this Agreement be taken or held to be a
waiver of the provision itself.

      13.6. Ani and Calypte shall consult with each other and shall conduct
themselves in a manner consistent with all current regulatory guidelines
governing the manufacture and sale of human in vitro clinical diagnostic
products. The parties shall use commercially reasonable efforts to provide
requisite facilities, staff and supplies necessary to fulfill their respective
obligations as set forth in this Agreement. Each party agrees to execute and
deliver any and all documents, and to perform such other acts as may be
reasonably necessary or expedient to carry out and make effective the purposes
and transactions contemplated by this Agreement.

      13.7. Information developed and produced during the course of the parties
fulfilling their obligations as set forth in the Agreement may be translated
into regulatory agency filings and manufacturing, packaging and quality control
procedures by the parties which will be reviewed and approved by both parties.
All such information, documentation and regulatory agency filings shall be the
sole property of Calypte. Calypte shall be solely responsible for complying with
requirements for testing, filings, marketing, advertising and other compliance
with applicable laws for Licensed Products sold by Calypte within the Territory.

      13.8. Neither party shall be responsible for any defaults or delays that
are due to causes beyond the party's control, including, but without limitation,
acts of God or public enemy, acts of a government or terrorist group, or total
or partial product recall (actual or threatened), fire, flood or other natural
disasters, embargoes, accidents, explosions, strike or other labor disturbances
(regardless of the reasonableness of the demands of labor), shortages of fuel,
power or raw materials, inability to obtain or delays of transportation
facilities, incidents of war, or other events causing the inability of the
party, acting in good faith with due diligence, to perform its obligations or
otherwise refrain from committing a breach.

      13.9. Neither party shall issue or cause to be issued any press release,
public announcement or disclosure of any kind or nature whatsoever or otherwise
disclose the existence of an agreement between the parties or the transactions
contemplated hereby except as is required by law, or SEC public disclosure
reporting requirements, or to the extent that both parties jointly agree to such
press release, public announcement or disclosure in advance and in writing.

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

      13.10. Nothing in this Agreement will be construed as creating any agency,
partnership, or other form of joint enterprise between the parties. Neither
party will have the authority to act or create any binding obligation on behalf
of the other party and neither party will represent to any third party that it
has the authority to act or create any binding obligation on behalf of the other
party.

      13.11. This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute
one and the same instrument.

      13.12. This Agreement, together with the Exhibits hereto, constitutes the
entire agreement between the Parties as to the subject matter hereof, and
supercedes all prior negotiations, representations, agreements and
understandings whether oral or written regarding such subject matter. This
Agreement may be modified or amended only by a writing executed by authorized
representatives of both of the parties.

      13.13. All notices, consents, waivers and other communications intended to
have legal effect under this Agreement must be in writing, must be delivered to
the other party at the address set forth below by personal delivery, certified
mail, postage pre-paid, or an internationally recognized overnight courier, and
will be effective upon receipt (or when delivery is refused). Each party may
change its address for receipt of notices by giving notice of the new address to
the other party pursuant to this Section:

                           If to Ani:

                                      Ani Biotech OY
                                      Museokatu 13 B
                                      00100 Helsinki Finland
                                      Attn:  Dr. Aimo Niskanen, CEO
                                      Telephone:  +358-20-1557515
                                      Facsimile:  +358-20-1557517
                                      Email:  aimo.niskanen@anibiotech.fi

                           If to Calypte:

                                      Calypte Biomedical Corporation
                                      5000 Hopyard Road, Suite 480
                                      Pleasanton, CA 94588 USA
                                      Attn:  Mr. Richard Brounstein, EVP & CFO
                                      Telephone:  (925) 730-7207
                                      Facsimile:  (925) 730-0146
                                      Email:  rbrounstein@calypte.com

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

                                 SIGNATURE PAGE

IN WITNESS WHEREOF, Ani and Calypte have executed this Agreement as of the date
first shown above.

FOR ANI BIOTECH OY:                         FOR CALYPTE BIOMEDICAL:

/s/ Aimo Niskanen                           /s/ J. Richard George
--------------------------------------      ------------------------------------
Dr. Aimo Niskanen                           Dr. Richard George

President & CEO                             President & CEO
--------------------------------------      ------------------------------------
Title                                       Title

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

                                    EXHIBIT A

                             MANUFACTURING EQUIPMENT

*

                                    EXHIBIT B

                                  ROYALTY RATES

*

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.