<PAGE>   1





EXHIBIT 10.42

THE CONFIDENTIAL PORTION OF THIS CONTRACT HAS BEEN OMITTED PURSUANT TO
REGULATION 240.25B-2(B) OF THE SECURITIES EXCHANGE ACT OF 1934, AND HAS BEEN
FILED SEPARATELY WITH THE COMMISSION.

                    AMENDED AND RESTATED LICENSE AGREEMENT

                                   BETWEEN

                        RIBOZYME PHARMACEUTICALS, INC.

                                       AND

                        COMPETITIVE TECHNOLOGIES, INC.
<PAGE>   2



                               TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                   Page
                                                                                                   ----
<S>                  <C>                                                                            <C>
ARTICLE I            DEFINITIONS                                                                    2

ARTICLE II           SURVIVAL OF ASSIGNMENT                                                         5

ARTICLE III          USE OF PATENTED SUBSTANCES                                                     6

ARTICLE IV           THE LICENSE                                                                    6
                     1.   Grant                                                                     6
                     2.   Sublicenses                                                               7
                     3.   Exclusivity                                                               9
                     4.   Consultation                                                              10
                     5.   Cross-Licensing                                                           10
                     6.   Country of Origin                                                         11

ARTICLE V            PRODUCT DEVELOPMENT                                                            11
                     1.   Due Diligence                                                             11
                     2.   Research and Development Information                                      12
                     3.   Data                                                                      12
                     4.   Remedial Action                                                           12

ARTICLE VI           PAYMENTS UNDER THE LICENSE                                                     13
                     1.   License Fee                                                               13
                     2.   Royalty Basis                                                             13
                     3.   Royalty Rates                                                             13
                     4.   Guaranteed Minimum Payments                                               14

ARTICLE VII          REMITTANCES, RECORDS AND REPORTS
                     UNDER THE LICENSES                                                             16
                     1.   Royalties                                                                 16
                     2.   Sublicense Fees                                                           17
                     3.   Guaranteed Minimum Payments                                               17
                     4.   Currency                                                                  17
                     5.   Credit for Patent Expenses                                                17
                     6.   Foreign Royalty Payments                                                  17
                     7.   Inspection                                                                18
                     8.   Price                                                                     18

ARTICLE VIII         PATENT PROTECTION                                                              18
                     Patent Filing                                                                  18
                     Recovery of Patent Expenses                                                    19
</TABLE>
<PAGE>   3





<TABLE>
<S>                  <C>                                                                            <C>
ARTICLE IX           ENFORCEMENT OF LICENSED PATENTS                                                19
                     1.   Enforcement                                                               19
                     2.   Defense                                                                   20

ARTICLE X            TERMS OF LICENSE: TERMINATION                                                  21
                     1.   Term                                                                      21
                     2.   Termination                                                               21

ARTICLE XI           REPRESENTATIONS AND WARRANTIES                                                 22

ARTICLE XII          PREFERENCE FOR U. S. INDUSTRY                                                  22

ARTICLE XIII         COMMUNICATION                                                                  23

ARTICLE XIV          ASSIGNMENTS                                                                    24

ARTICLE XV           MISCELLANEOUS                                                                  24
                     1.   Execution                                                                 24
                     2.   Construction                                                              24
                     3.   Indemnification                                                           24
                     4.   Anonymity                                                                 24
                     5.   Severability                                                              25
                     6.   Jurisdiction                                                              25
                     7.   Headings                                                                  25
                     8.   Force Majeure                                                             25
                     9.   No Waiver                                                                 25
                     10.  Compliance                                                                25
                     11.  Remedies                                                                  25
                     12.  Counterparts                                                              26
</TABLE>




Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Seurities Exhange Act of 1934, and have been filed
separately with the Commission.
<PAGE>   4



                     AMENDED AND RESTATED LICENSE AGREEMENT

         This Amended and Restated License Agreement ("Agreement") is effective
as of  the 20th day of November, 1996 between Competitive Technologies, Inc. a
Delaware corporation having its principal office at 1960 Bronson Road,
Fairfield, Connecticut 06430 (hereinafter referred to as "LICENSOR") and
Ribozyme Pharmaceuticals, Inc., a Delaware corporation having its principal
office at 2950 Wilderness Place, Boulder, Colorado 80301 (hereinafter referred
to as "LICENSEE"), and amends and restates that certain Assignment of License
and Restated License Agreement dated of even date herewith between LICENSOR,
LICENSEE and  United States Biochemical Corporation, a corporation having a
place of business at 26111 Miles Road, Cleveland, Ohio 44128 (hereinafter
referred to as "USB") (the "Assignment").

         WHEREAS, under a Servicing Agreement between the University of
Colorado Foundation (the "Foundation") and LICENSOR, LICENSOR is assignee of
all right, title and interest of the Foundation to certain patent rights
relating to ribozymes owned by University Research Corporation, a Colorado
corporation and wholly owned subsidiary of the Foundation ("URC"), and has the
exclusive right to license to others the entire interest in such patent rights;
and

         WHEREAS, pursuant to that certain Second Restated License Agreement
dated September 1, 1993 between LICENSOR (as successor to University Patents,
Inc.) and USB, as amended by that certain Letter Agreement dated October 13,
1994 (the "Prior License Agreement"), USB was the exclusive licensee of
LICENSOR of such patent rights, and pursuant to the Assignment USB has assigned
and delegated all of its rights and obligations under the Prior License
Agreement to LICENSEE, whereby LICENSEE has become the exclusive licensee of
such patent rights; and





                                      1


Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.
<PAGE>   5





         WHEREAS, LICENSOR and LICENSEE wish to hereby amend and restate the
terms of such exclusive license.

         NOW, THEREFORE, in consideration of the foregoing and the mutual
agreements set forth herein, the parties agree as follows:

                                   ARTICLE I

                                  DEFINITIONS

         1.      "Commercial Sale" shall mean any transaction which transfers
to a purchaser physical possession and title to a Product Unit, after which
transfer the seller has no right or power to determine the purchaser's resale
price, if any, and any transaction which involves the performance of Licensed
Services for a third-party after which no further services are performed.
Transfer of possession and title to a Product Unit, or performance of Licensed
Services for, an "Affiliated or Related Interest" shall not constitute a
Commercial Sale.  An "Affiliated or Related Interest" means an entity in which
LICENSEE has a direct or indirect ownership interest in excess of fifty percent
(50%), or any entity which directly or indirectly, through one or more
intermediaries, controls, is controlled by, or is under common control with
LICENSEE.  If a purchaser of a Product Unit or Licensed Services is not
independent of LICENSEE and if the sale of a Product Unit to such purchaser, or
performance of Licensed Services for such purchaser, is at a lower price than
other sales of similar Product Units to, or the performance of Licensed
Services for, independent purchasers of substantially similar size, in
substantially similar amounts, operating in markets of substantially similar
competitive conditions, then the transfer of the Product Unit to, or
performance of Licensed Services for such nonindependent purchaser shall not
constitute a Commercial Sale thereof at the price charged such purchaser, but
the Commercial Sale shall be deemed to have occurred at the Net Selling Price
at which such Product Unit or Licensed Services was last sold, or would have
been sold, to an independent purchaser under similar conditions.

         2.      "Improvement" shall mean any invention the practice of which
would infringe the claims covered by the Licensed Patents, which invention was
made by the Inventors and/or





                                       2





Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.
<PAGE>   6




persons acting under their direction and control at the University of Colorado,
which is the work product of the Research Support Funding Agreement between USB
and the University of Colorado Foundation entered into on May 20, 1987 (the
"RSFA") and which was conceived or reduced to practice during the term of the
RSFA.

         3.      "Improvement Patents" shall mean any patent application and
any patents issuing thereon throughout the world including any extensions,
renewals, continuations, continuations-in-part, divisions, patents of additions
and/or reissues thereof filed upon an Improvement, and to which LICENSOR has or
shall have the right to grant licenses during the term hereof.

         4.      "Intermediate Products" shall mean the RNA enzymes described
in Claims 1-47, 70 and 73 of the '327 Patent Application, RNA enzymes which may
be claimed in any other Licensed Patent and/or Improvement Patent, and plasmids
used as vectors for the delivery of ribozymes (either viral or nonviral), made
and sold in bulk by LICENSEE to Manufacturers.

         5.      "Inventors" shall mean Thomas R. Cech, Arthur J. Zaug and
Michael D. Been.

         6.      "Licensed Methods" shall mean any invention, method, process,
procedure or technology which is covered by and/or may be claimed in the
Licensed Patent and any Improvement Patent.

         7.      "Licensed Patents" shall mean the inventions and discoveries
which are the subject of, or which are covered in whole or in part by, the
claims included in (i) U.S. Patent Application Serial Number 937,327, filed
December 3, 1986 entitled RNA RIBOZYME POLYMERASES, DEPHOSPHORYLASES,
RESTRICTION ENDORIBONUCLEASES AND METHODS (the "'327 Patent Application"), a
copy of the Claims of which is attached hereto and marked EXHIBIT "A",  (ii)
the United States Patents listed on EXHIBIT "B" attached hereto, and  any
patents issuing thereon as well as any corresponding patent applications or any
patents that may issue thereon throughout the world, including any extensions,
renewals, divisions, continuations, continuations-in-part, patents of addition,
and/or reissues thereof, including Improvement Patents, and to which LICENSOR
has or shall have the right to grant licenses during the term hereof.  It is
understood that any reference in this Agreement to claim numbers as recited in
the '327 Patent Application as filed on December 3, 1986, or other Licensed
Patents corresponding thereto or derived therefrom (including but not limited
to those included in





                                       3





Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.
<PAGE>   7




EXHIBIT "B"), shall be deemed to refer to any and all claims which are or have
been renumbered, deleted or added during the course of prosecution of the '327
patent application and are included in such Licensed Patents.

         8.      "Licensed Products" shall mean the RNA enzymes described in
Claims 1-47, 70 and 73 of the '327 Patent Application and RNA enzymes which may
be claimed in any other Licensed Patent and/or Improvement Patent, packaged and
sold by LICENSEE for use as (by way of illustration and not of limitation)
research reagents, diagnostic products, pharmaceutical products, agricultural
biochemical products, veterinary products, cell culture and/or fermentation
products, or otherwise, and plasmids used as vectors for the delivery of
ribozymes (either viral or nonviral), but shall not include Intermediate
Products.

         9.      "Licensed Services" shall mean any service which is performed
for a third-party which includes use of a Product Unit or Licensed Method.

         10.     "Manufacturer" shall mean a business entity which makes and
sells merchandise in finished form and ready for end use without further
substantial alteration incorporating or utilizing Intermediate Product(s).

         11.     "Market Year" shall mean the twelve (12) month period which
commences upon the first Commercial Sale of Licensed Products or Licensed
Services by LICENSEE, and each ensuing twelve (12) month period during the term
of this Agreement.  For the purposes of this definition, the term "Licensed
Products" shall exclude Research Reagents.

         12.     "Net Selling Price" shall mean the actual gross selling price
of each Product Unit upon its Commercial Sale, including all packaging,
instructional or other charges made to a purchaser, but less customary trade
discounts and refunds or credits allowed for shortages, returns, or defective
articles and transportation or shipping charges and/or taxes billed by LICENSEE
to its customers.  In the case of Licensed Services, (i) the term Net Selling
Price shall include the actual gross receipts received for the performance of
Licensed Services upon a Commercial Sale, less customary trade discounts and
refunds or credits and/or taxes billed by LICENSEE to its customers; and (ii)
the term "Commercial Sale" shall include any transaction under which the
Licensee or any sublicensee provides Licensed Services to a person who is not
an Affiliated or Related Interest.  The actual selling price of Product Units
to a purchaser or





                                       4





Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.
<PAGE>   8




amounts received for the performance of Licensed Services for a third party,
with whom LICENSEE has a reciprocal discount or preferential price arrangement
for merchandise, services or use of technology and which discount or
preferential price arrangement affects the price LICENSEE charges such
purchaser or third-party, shall not be the Net Selling Price thereof, but the
Net Selling Price for such Product Units or Licensed Services shall be the
actual selling price plus the amount(s) of such discounts or price preferences.

         13.     "Patented Substances" shall mean those materials listed on
EXHIBIT "C" hereof previously supplied to LICENSEE.

         14.     "Product Units" shall mean:

                 (i)      Licensed Products, and

                 (ii)     Intermediate Products



                                   ARTICLE II

                             SURVIVAL OF ASSIGNMENT

         LICENSOR and LICENSEE agree that the terms of Article II of the
Assignment, and such other provisions of the Assignment as they pertain to USB,
shall be and remain in full force and effect, and that all other terms and
conditions of the Assignment, including the license granted to LICENSEE by
LICENSOR thereunder, shall be superseded hereby.


                                  ARTICLE III

                           USE OF PATENTED SUBSTANCES

         The Foundation and the Inventors having agreed that Patented
Substances shall not be transferred by way of sale, gift, loan or otherwise to
any other person or business entity during the term of the license granted to
LICENSEE hereunder, excepting distribution to the academic community, not for
profit, in accordance with normal academic procedures, and to obtain a written
agreement from such potential academic distributees in advance of such
distribution evidencing agreement that the materials will not be used or
distributed for commercial purposes,





                                       5





Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.
<PAGE>   9




LICENSEE affirms that it understands and agrees that the Inventors may retain
and use the Patented Substances for purposes of research.


                                   ARTICLE IV

                                  THE LICENSE

         1.      Grant.  Subject to the rights of the United States Government,
as set forth in P.L. 96-517, P.L. 98-620 and 37 CFR 401, as amended, LICENSOR
hereby grants to LICENSEE an exclusive worldwide license under the Licensed
Patents to exercise the following rights:

                 (a)      To make, have made, use and sell RNA enzymes alone or
                          when incorporated in Licensed Products;

                 (b)      To use, practice, or have used or practiced on its
                          behalf, but not to sell, the Licensed Methods;

                 (c)      To perform, or have performed on its behalf, Licensed
                          Services which include use of a Product Unit or
                          Licensed Method;

                 (d)      To make, have made, use and sell plasmids as
                          described or claimed in the Licensed Patent and any
                          Improvement Patent;

                 (e)      To pass on to its customers for RNA enzymes, Licensed
                          Products and/or Intermediate Products, or its
                          customers for Licensed Services, a license for the
                          use thereof as described or claimed in the Licensed
                          Patents and any Improvement Patent; and

                 (f)      To make, have made and use Intermediate Products and
                          to sell Intermediate Products to Manufacturers, and
                          to grant licenses to Manufacturers to make, use and
                          sell Product Units, to use and practice Licensed
                          Methods and/or to perform Licensed Services; provided
                          that, in the case of the sale of Intermediate
                          Products, LICENSEE has theretofore entered into
                          royalty- bearing agreements whereunder LICENSEE
                          obtains royalties from such Manufacturers based upon
                          said Manufacturers' selling prices of merchandise:





                                       6





Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.
<PAGE>   10




        
                          (i)     in which one or more Intermediate Product is 
                                  a constituent, and/or

                          (ii)    in the production of which one or more
                                  Intermediate Product is or has been utilized,
                                  in accordance with the provisions of
                                  paragraph 3(b) of Article VI.

                 (g)      To grant sublicenses with respect to any of the
                          foregoing, subject to the terms of Paragraph 2 of
                          this Article IV.

         2.      Sublicenses.  (a) During the term of exclusivity granted
hereunder, the license hereby granted shall include the right of LICENSEE or
any sublicensee to grant written sublicenses covering Licensed Products,
Licensed Services and Licensed Methods, provided that LICENSEE shall include
all sales and receipts therefrom received from unaffiliated third parties by
all sublicensees in LICENSEE'S statements to LICENSOR as provided in paragraph
1(b) of Article VII and (A) in the case of sublicenses granted to parties other
than to Manufacturers shall pay royalties to LICENSOR in an amount equal to the
greater of (i) [   ]of the royalty income received from each such sublicensee
for the sale of Licensed Products and Licensed Services and for use of Licensed
Methods or (ii)  [   ](x) of the Net Selling Price of each Licensed Product
made or sold, or received from the performance of Licensed Services, by or for
such sublicensee or (y) of the amounts received by or from the sublicense of
Licensed Methods and (B) in the case of any sublicense granted to a
Manufacturer in respect of Intermediate Products pay royalties to LICENSOR as
per paragraph 3(b) of Article VI.  LICENSEE and its sublicensees shall be free
to grant sublicenses at any royalty rate they may deem appropriate.
Notwithstanding the foregoing, no multiple royalties shall be payable because a
Licensed Product, Licensed Service, Licensed Method or Intermediate Product are
or shall be sold or licensed to or by a sublicensee in the same transaction.

         (b) In addition to the foregoing, LICENSEE agrees that it will remit
to LICENSOR in accordance with paragraph 2 of Article VII, [   ] of any option
fee, license fee, prepaid royalty or other "front-end payment" which it may
receive from a sublicensee or which a sublicensee may receive from its
sublicensees.  It is agreed that research and development funding (as defined





                                       7





Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.
<PAGE>   11




hereafter) does not constitute an "option fee, licensee fee, prepaid royalty or
'front-end payment'" under this paragraph.

         For purposes hereof, the term "research and development funding" shall
mean funding received from third parties for (1) LICENSEE's direct or indirect
cost (purchase or lease) of materials, equipment and facilities used in
research and development; (2) salaries, wages, benefits and other related costs
of personnel engaged in or supporting the research and development activity;
(3) the cost to LICENSEE of services performed by others in connection with
LICENSEE's research and development activity; (4) the cost to LICENSEE of
payments to third parties (other than LICENSOR) for patent or other rights
utilized in research and development; (5) a reasonable allocation of general,
administrative and other indirect and overhead costs to research and
development activities; (6) debt or equity investments in LICENSEE and (7)
research and development milestone payments paid to LICENSEE for completion of
research and development activities associated with ribozyme technology and
product development.  Determinations with respect to research and development
funding shall be made in accordance with generally accepted accounting
principles.  Costs associated with selling products and costs associated with
facilities and equipment unrelated to research and development activities shall
not be included in "research and development funding."

         LICENSOR shall be promptly advised of any agreement which provides for
such research funding and LICENSOR shall be furnished with a true and correct
copy of any such agreement.  LICENSOR shall have the right, upon prior
reasonable notice, to inspect the books and records of LICENSEE or a
sublicensee, as applicable, in accordance with the provisions of paragraph 7 of
Article VII to verify the nature of such research funding.  In the event of any
disagreement between the parties with respect to the foregoing, representatives
of LICENSOR and LICENSEE or a sublicensee shall meet and seek to resolve any
such disagreement, as applicable; and if the parties are unable to reach
agreement, then any such disagreement under this paragraph shall be submitted
to arbitration in accordance with the Commercial Arbitration Rules of the
American Arbitration Association then in effect before a panel of one
arbitrator.  The place of arbitration shall be New York, New York.  Any award
rendered thereon shall be





                                       8





Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.
<PAGE>   12




final and binding on the parties and judgment may be entered on the
arbitrator's award in any court having jurisdiction.

         LICENSEE agrees to deliver to LICENSOR a true and correct copy of each
and every sublicense entered into by LICENSEE within thirty (30) days after
execution thereof and shall promptly advise LICENSOR in writing of any
modification (and supply same) or termination of each sublicense.  Upon
termination of this Agreement for any cause, any and all existing sublicenses
hereunder shall thereupon be assigned to LICENSOR.  This shall be made a
condition of any such sublicense that may be granted by LICENSEE.

         3.      Exclusivity.  LICENSOR agrees not to grant to any other party
any option, license or other right under the Licensed Patents to make, have
made, use or sell Product Units, Licensed Services and Licensed Methods during
the period of the exclusive license herein granted.

         4.      Consultation.  The Parties recognize that during the term of
this Agreement, LICENSEE may confer and consult freely with the Inventors in
furtherance of the development and testing of Product Units, Licensed Services
and Licensed Methods, in accordance with such arrangements as they may make
among themselves.

         5.      Cross-Licensing.  LICENSOR understands that LICENSEE'S
negotiations with Gene Shears (J&J) for the cross licensing of certain Gene
Shears patented technology to LICENSEE in exchange for the cross licensing of
certain Licensed Patents to Gene Shears is now in suspense.  LICENSOR agrees
that in the event these negotiations are re- activated on terms and conditions
similar to or more favorable to LICENSEE than those described in correspondence
between LICENSOR and LICENSEE during the period April 19 to 21, 1994, LICENSOR
will consent to such cross-license.  (Said correspondence being incorporated
herein by this reference solely for this purpose.).

         In the event that LICENSEE believes that one or more additional
cross-licenses (other than that with Gene Shears referenced above) are
necessary between LICENSEE and any third party, LICENSOR shall negotiate in
good faith with LICENSEE for the grant of LICENSOR's consent thereto in return
for reasonable consideration.

         If LICENSEE grants a license (an "RPI License") to any of its patented
technology, or to any of its proprietary technology for which a patent
application is pending ("RPI Technology") to





                                       9





Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.
<PAGE>   13




any cross-licensee under this Agreement, or any third party affiliated with or
related to such cross-licensee, and the license or option fee, royalty basis,
royalty rate and/or minimums of the RPI License are substantially greater than
in the cross-license, then LICENSOR and LICENSEE shall negotiate in good faith
a division of the incremental royalties paid under the license resulting from
such substantially greater license or option fee, royalty basis, royalty rate
and/or minimums (the "Incremental Royalties").  The division of Incremental
Royalties will be based upon the relative value the cross-licensed technology
and the licensed RPI Technology contribute to the products upon which the
Incremental Royalties are paid.  In the event an agreement cannot be reached by
the parties, such matter will be arbitrated before a panel of three
arbitrators, one of whom shall be selected by LICENSEE, one of whom shall be
selected by LICENSOR, and the third of whom shall be selected by the two
arbitrators so selected by LICENSEE and LICENSOR.  In no event will the payment
of any part of Incremental Royalties to LICENSOR on any license extend beyond
the term of this Agreement.  In addition, in no event will LICENSOR be entitled
to share in any license or option fees, royalties and/or minimums in excess of
those to which it would be entitled if all license or option fees, royalties
and/or minimums paid under the cross-license and RPI License had instead been
paid pursuant to this Agreement.

         6.      Country of Origin.  The Parties agree that royalties shall be
paid only upon Product Units, Licensed Services and Licensed Methods which are
covered in the country of their manufacture, use or sale by a Licensed Patent.





                                       10





Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.
<PAGE>   14




                                   ARTICLE V.

                              PRODUCT DEVELOPMENT


         1.      Due Diligence.  LICENSEE has represented to LICENSOR that it
is experienced in the development and commercialization of Product Units, and
that commencing with the execution of the Prior Sublicense Agreement it
committed itself to a program of developing, obtaining governmental agency
approvals for, and marketing Product Units.  LICENSEE agrees that it will
diligently continue the efforts above described.  In furtherance of the
foregoing, to maximize the commercial potential of the Licensed Patents and
their benefit to mankind, expanding the number of researchers utilizing
ribozyme technologies is necessary.  LICENSEE's activities and programs
regarding the technology are designed to maximize the potential of this
technology and shall include the following activities:

                 (a)      sale and promotion of research reagents to provide
                          tools to researchers;
        
                 (b)      sponsorship of meetings and seminars regarding the
                          technology;

                 (c)      contacting firms in the pharmaceutical, diagnostic
                          and agbiotech fields to establish potential research
                          relationships and/or licenses;

                 (d)      support of commercial development activities through
                          technology development efforts and the expertise of
                          LICENSEE's scientists.

         2.      Research and Development Information.  LICENSEE agrees to
furnish to LICENSOR in a timely manner, copies of all periodic reports filed by
LICENSEE with the U.S. Securities and Exchange Commission.  In addition,
LICENSEE agrees that its President or CEO shall meet with representatives of
LICENSOR no less frequently than once per year at LICENSOR's offices in
Connecticut or in New York City to review progress in developing and
commercializing the Licensed Patents.  In addition, LICENSEE shall furnish to
LICENSOR, to the extent it is legally able to do so, copies of any progress
reports LICENSEE receives from its sublicensees and/or cross-licensees
respecting Product Units.

         3.      Data.  LICENSEE and LICENSOR agree that during the term of the
License hereunder, they will provide to patent counsel all information and data
that either party develops or otherwise possesses which may assist patent
counsel in the filing, prosecution and defense of patent applications and
patents included in the Licensed Patents.





                                       11





Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.
<PAGE>   15




         4.      Remedial Action.  In the event LICENSOR believes that LICENSEE
has failed to exercise reasonable diligence hereunder,  LICENSOR shall have the
right to advise LICENSEE of its belief and request remedial action.  If
LICENSOR and LICENSEE disagree, they may bring the matter to arbitration upon
mutual agreement, or lacking such agreement, each shall rely upon such remedies
and defenses as are available to it in law or equity.

                                   ARTICLE VI

                           PAYMENTS UNDER THE LICENSE

         1.      License Fee.  All License Fees payable under the Prior License
Agreement have been paid to LICENSOR, and no additional License Fees shall be
payable by LICENSEE hereunder.

         2.      Royalty Basis.  LICENSEE agrees to pay, as hereinafter
provided, royalties to LICENSOR:

                 (a)      in respect of each Licensed Product made or sold by
                          or for LICENSEE;

                 (b)      in respect of each Intermediate Product sold by
                          LICENSEE to a Manufacturer or with respect to which a
                          Manufacturer has been granted a sublicense as
                          provided in paragraph 2 of Article IV.

                 (c)      in respect of Licensed Services performed by or for
                          LICENSEE.

         3.      Royalty Rates.

                 (a)      For each Licensed Product sold by Licensee, which is
                          subject to paragraph 2(a) of this Article VI, and for
                          Licensed Services performed by Licensee, which are
                          subject to paragraph 2(c) of this Article VI, the
                          rate shall be [   ]of the Net Selling Price.

                 (b)      For each Intermediate Product which is subject to
                          paragraph 2(b) of this Article, the rate shall be:

                          (i)     [  ] of the Net Selling Price of such 
                                  Intermediate Product, and in addition,

                          (ii)    [  ] of any royalty or fee (except of a
                                  sublicense fee, which shall be payable as set
                                  forth in paragraph 2(b) of Article IV and
                                  paragraph 2





                                       12





Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.
<PAGE>   16




                                  of Article VII), which a Manufacturer pays
                                  LICENSEE upon the manufacture, use, sale or
                                  other transfer of merchandise in which the
                                  Intermediate Product is a constituent or has
                                  been utilized.

                 (c)      No multiple royalties shall be payable because a
                          Licensed Product, Licensed Services and Licensed
                          Method are or shall be sold, performed and/or
                          licensed in the same transaction by LICENSEE, so long
                          as LICENSOR receives the royalties provided for in
                          paragraphs 3(a) or 3(b) of this Article VI, as
                          applicable.

                 (d)      Notwithstanding the provisions of this Article VI, in
                          the event that LICENSEE is presented with an
                          opportunity or opportunities for the exploitation of
                          ribozymes in diagnostic products, through
                          sublicensing, then LICENSOR will cooperate in good
                          faith with LICENSEE to revise the royalty rate
                          structure to permit such exploitation for the mutual
                          benefit of the parties.

         4.      Guaranteed Minimum Payments.

                 (a)      To retain its license hereunder, LICENSEE shall pay
                          to LICENSOR, as minimum annual payments, no less than
                          the amounts set forth below:
  
                          (i)     For the first Market Year,  [  ];

                          (ii)    For the second Market Year, the amount shall
                                  be the greater of [   ] or [   ] of the
                                  royalty actually earned during the first
                                  Market Year;

                          (iii)   For the third Market Year, the amount shall
                                  be the greater of  [  ] or [    ] of the
                                  royalty actually earned during the second
                                  Market Year;

                          (iv)    [    ] shall be the greater of [     ] or [
                                  ] of the royalty actually earned during the
                                  third Market Year;

                          (v)     For the fifth Market Year, the amount shall
                                  be the greater of [   ] or [    ] of the
                                  royalty actually earned during the fourth
                                  Market Year;

                          (vi)    For the sixth and each ensuing Market Year,
                                  the amount shall be the [    ] or [    ] of
                                  the royalty actually earned during the fifth
                                  Market Year.





                                       13





Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.
<PAGE>   17





                          (vii)    Payments shall be payable in accordance 
                                   with paragraph 3 of Article VII.

                 (b)      In the event LICENSEE does not pay the minimum annual
                          amounts as aforesaid, LICENSOR shall have the right
                          to terminate the license granted hereunder; provided,
                          however, that if LICENSEE shall have paid minimum
                          annual amounts under the license for a period of ten
                          (10) years, then the license shall thereafter no
                          longer be terminable by LICENSOR for failure to pay
                          such minimum annual amounts; provided LICENSEE is not
                          in any respect in default hereunder.

                 (c)      Notwithstanding the foregoing, LICENSEE agrees that
                          if it sells Licensed Products in any country under
                          its exclusive license and subsequently withdraws such
                          Licensed Products from sale in that country (except
                          upon governmental requirement) and has no Commercial
                          Sales therein for a period of one (1) year
                          thereafter, LICENSOR may convert LICENSEE's exclusive
                          license in that country to a nonexclusive license for
                          such Licensed Products.





                                       14





Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.
<PAGE>   18





                                  ARTICLE VII

              REMITTANCES, RECORDS AND REPORTS UNDER THE LICENSES


         1.      Royalties.

                 (a)      Royalties shall accrue when Product Units or Licensed
                          Services are first sold or performed by or for
                          LICENSEE.  Product Units shall be considered sold to,
                          and Licensed Services performed for, third parties
                          when billed out.

                 (b)      Payments of earned royalties shall be made within
                          sixty (60) days following the end of each half of
                          each Market Year for the sale of all Product Units
                          sold or otherwise transferred, and/or Licensed
                          Services performed, by LICENSEE during said half
                          Market Year.  LICENSOR's participation in royalties
                          from Manufacturers under paragraph 3(b)(ii) of
                          Article VI shall be paid within sixty (60) days
                          following the end of each half of each Market Year,
                          based upon LICENSEE's receipts of such royalty
                          payments from Manufacturers during each half Market
                          Year.  Such payment shall be accompanied by a
                          statement certified to LICENSOR by an officer of
                          LICENSEE which shall give sufficient information from
                          which to calculate the amount of royalties due
                          hereunder, including, but not limited to, the total
                          quantity and Net Selling Price of Product Units
                          and/or Licensed Services for which royalty has
                          accrued during the preceding half Market Year and the
                          aggregate royalties due.  Statements shall also be
                          submitted in the event no sales of Product Units or
                          Licensed Services took place.

                 (c)      Notwithstanding the foregoing paragraph, LICENSEE may
                          establish a reserve for bad debts in the amount of
                          two percent (2%) of the Net Selling Price of Product
                          Units sold or otherwise transferred, and or Licensed
                          Services performed, by LICENSEE during each Market
                          Year.  Such reserve shall be reconciled at the end of
                          each Market Year and, in the





                                       15





Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.
<PAGE>   19




                          event that the amount of non-collectible accounts
                          receivable for the Market Year is less than the
                          amount so reserved, LICENSEE shall remit to LICENSOR
                          the royalties earned on such difference; and, in the
                          event that the amount of non-collectible accounts
                          receivable for the Market Year is greater than the
                          amount so reserved, LICENSEE shall be entitled to a
                          credit against the next scheduled royalty payment to
                          LICENSOR in the amount of the royalties paid by
                          LICENSEE on such difference.

         2.      Sublicense Fees.  Payment of LICENSOR's share of sublicense
fees, prepaid royalties or "front-end" payments received by LICENSEE from
sublicensees pursuant to paragraph 2(b) of Article IV shall be remitted to
LICENSOR within sixty (60) days following the end of the calendar quarter of
receipt.

         3.      Guaranteed Minimum Payments.  LICENSEE agrees that each
minimum annual payment under paragraph 4 of Article VI shall become a present
obligation of LICENSEE to LICENSOR on the first day of each Market Year; and
LICENSEE agrees that such minimum amounts are to be paid to LICENSOR together
with the remittance made for the last accounting period of the applicable
Market Year, in the event earned royalties for such Market Year do not reach
the minimum amount set forth.

         4.      Currency.  Payment hereunder shall be made in U. S. dollars in
the United States.

         5.      Credit for Patent Expenses.  LICENSEE may deduct as credits
from payment of royalties due under paragraph 1(b) of this Article VII amounts
not to exceed one-half (1/2) of said royalties due during any half Market Year
until [    ]of the expenses incurred by LICENSEE pursuant to paragraph 2 of
Article VIII have been credited.

         6.      Foreign Royalty Payments.  With respect to sales in countries
outside the United States, royalties shall be payable in U. S. dollars at the
rate of exchange published in The Wall Street Journal on the last day of the
accounting period in which the royalty accrues.  Royalties shall be paid to
LICENSOR free and clear of all foreign taxes, including withholding and
turnover taxes, except such taxes which LICENSEE may be required to withhold by
a foreign country (provided that LICENSOR can receive full credit for such
taxes with the Internal Revenue Service of the United States) .





                                       16





Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.
<PAGE>   20





         7.      Inspection.  LICENSEE shall keep records in sufficient detail
to permit the determination of royalties payable hereunder and, at the request
and expense of LICENSOR, will permit an independent Certified Public
Accountant, acceptable to both LICENSOR and LICENSEE, to examine, in
confidence, during ordinary business hours once in each calendar year such
records as may be necessary to verify or determine royalties paid or payable
under this Agreement.  For the purposes of this paragraph, LICENSEE shall be
required to retain its records for no more than three (3) years.

         8.      Price.  LICENSEE shall submit to LICENSOR, no less than once
per year during the life of this Agreement, copies of its customer catalogs in
which Licensed Products and Licensed Services are listed for sale.


                                  ARTICLE VIII

                               PATENT PROTECTION


         1.      Patent Filing.

                 (a)      LICENSEE shall reimburse LICENSOR promptly following
                          the presentation of invoices therefore for the
                          prosecution and maintenance of the '327 Patent
                          Application and any patents which issue thereunder in
                          the United States.

                 (b)      LICENSEE shall reimburse LICENSOR promptly following
                          the presentation of invoices therefor for the filing,
                          prosecution and maintenance of any counterpart
                          foreign patent applications to the '327 Patent
                          Application and patents which issue thereunder which
                          LICENSEE, in its sole discretion, elects to support.

                 (c)      LICENSEE shall reimburse LICENSOR promptly following
                          the presentation of invoices therefor for the filing,
                          prosecution, and maintenance of such U.S. and foreign
                          Improvement Patents which LICENSEE, in its sole
                          discretion, elects to support.





                                       17





Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.
<PAGE>   21





                 (d)      In the event LICENSEE shall not elect to reimburse
                          LICENSOR for filing, prosecution and/or maintenance,
                          as aforesaid, then such patent application(s) and/or
                          any patent(s) which issues thereunder shall not be
                          included in Licensed Patents licensed to LICENSEE
                          hereunder.

         2.      Recovery of Patent Expenses.  LICENSEE shall bear the expenses
associated with the filing, prosecution and maintenance of Licensed Patents
including, without limitation, filing, maintenance, and attorneys' fees;
provided that, LICENSEE shall be entitled to recover [   ]of such costs from
royalties otherwise to become due to LICENSOR, earned in the country in which
the application was filed, in accordance with paragraph 5 of Article VII.


                                   ARTICLE IX

                        ENFORCEMENT OF LICENSED PATENTS

         1.      Enforcement.  In the event LICENSEE, LICENSOR, the Foundation
or URC becomes aware of any actual or threatened infringement of a Licensed
Patent anywhere in the world, that party shall promptly notify the other
parties in writing.  LICENSEE shall have the first right to bring, at its own
expense, an infringement action against any third party and to use the names of
LICENSOR, the Foundation and URC in connection therewith.  If LICENSEE does not
proceed with a particular patent infringement action within ninety (90) days,
LICENSOR, after notifying LICENSEE in writing, shall be entitled to take
proceedings against such infringer at its own expense, and shall have the right
to settle infringement litigation by licensing the infringer, unless LICENSEE
shall equally share the cost of enforcement with LICENSOR.  The party
conducting such suit shall have full control over its conduct.  In any event,
LICENSOR, the Foundation, URC and LICENSEE shall assist one another and
cooperate in any such litigation upon request without expense to the requesting
party.  Any recovery as a result of any litigation or settlement thereof shall
be the property of the party bearing the principal responsibility of such
litigation.





                                       18





Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.
<PAGE>   22





         2.      Defense.  In the event a third party brings an action to
obtain a declaration of patent invalidity of a Licensed Patent (a "DJ Action")
against LICENSOR and/or LICENSEE:

                 (a)      The named defendants shall have the first right to
                          defend said action at its own cost and expense and to
                          control ensuing litigation.

                 (b)      If the named defendant elects not to defend the DJ
                          Action, the other Party may elect to defend the DJ
                          Action at its own cost and expense and to control the
                          ensuing litigation.

                 (c)      If a litigating Party finally prevails, it shall
                          retain all damages which it may collect.

                 (d)      If either Party finally loses because a patent is
                          held invalid, LICENSEE may thereafter cease paying
                          royalties on sales of Licensed Products, the
                          performance of Licensed Services or Product Units and
                          use of Licensed Methods, as the case may be, in the
                          country in which such invalidity has been finally
                          adjudicated provided that Licensed Products, Product
                          Units, Licensed Services and Licensed Methods, as the
                          case may be, are covered or the use thereof are
                          covered only by claims which have been held invalid.

                                   ARTICLE X

                         TERMS OF LICENSE: TERMINATION

         1.      Term.  The term of this Agreement shall be from the date first
written above until the expiration of the last to expire of any patent included
in the Licensed Patents.

         2.      Termination.

                 (a)      LICENSEE may terminate this Agreement:

                          (i)     For cause; or

                          (ii)    Upon sixty (60) days written notice to
                                  LICENSOR, provided that LICENSEE shall
                                  thereafter terminate the manufacture, sale
                                  and/or use of Product Units except for
                                  disposition of inventory on hand,





                                       19





Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.
<PAGE>   23




                                  for which royalties shall be paid in
                                  accordance with Article VI hereof.
                                  Disposition of inventory must be completed
                                  within one hundred twenty (120) days of the
                                  aforementioned notice.

                 (b)      If LICENSEE shall at any time default in any
                          obligation under this Agreement, including but not
                          limited to failing to make any report, pay any
                          royalties, or permit the inspection of its books and
                          records as hereinabove required, and such default
                          shall not be cured within sixty (60) days after
                          written notice from LICENSOR to LICENSEE specifying
                          the nature of the default, then LICENSOR shall have
                          the right to terminate the license granted to
                          LICENSEE hereunder and such termination shall become
                          effective on the sixtieth (60th) day after giving
                          such notice.

                 (c)      Any termination pursuant hereto shall not relieve
                          LICENSEE or LICENSOR of any obligation or liability
                          accrued hereunder prior to such termination, nor
                          rescind or give rise to any right to rescind anything
                          done or any payments made or other consideration
                          given hereunder prior to the time of such termination
                          and shall not affect in any manner any rights of
                          either party arising out of this Agreement prior to
                          such termination.

                                   ARTICLE XI

                         REPRESENTATIONS AND WARRANTIES


         LICENSOR represents that it has the right to enter into this Agreement
and that, to the best of LICENSOR's knowledge, no amounts are due LICENSOR from
either LICENSEE or USB under the Prior License Agreement.  LICENSOR makes no
other representation or warranty, express or implied, except as herein
provided, nor does LICENSOR assume any liability in respect of any infringement
of any patent or other rights of third parties due to LICENSEE's operation
under the rights herein granted.  LICENSEE recognizes that the Patented
Substances and the RNA enzymes produced therefrom have been produced by the
Inventors for research purposes only. THE INVENTORS, THE FOUNDATION, URC, AND
LICENSOR





                                       20





Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.
<PAGE>   24




EXPRESSLY DISCLAIM THAT THE PATENTED SUBSTANCES AND/OR THE RNA ENZYMES PRODUCED
THEREFROM WILL BE OF ANY COMMERCIAL VALUE TO LICENSEE WHATSOEVER, AND NO SUCH
REPRESENTATION OR WARRANTY OF SUCH VALUE SHOULD BE IMPLIED.  LICENSEE AGREES
THAT IT IS OBTAINING THE LICENSES HEREIN GRANTED WITHOUT ANY REPRESENTATION OF
VALUE, MERCHANTABILITY OR FITNESS FOR USE.


                                  ARTICLE XII

                         PREFERENCE FOR U. S. INDUSTRY

         In view of Public Law 96-517, Public Law 98-620 and regulations
thereunder, LICENSEE agrees that any Product Unit covered by Licensed Patents
or produced through the use of a method or process claimed in the Licensed
Patents for sale in the United States of America will be manufactured
substantially in the United States of America, unless a waiver of such
obligation is obtained from the Federal Agency which supported in whole or in
part said invention.  LICENSEE shall include the foregoing provision in any
sublicense(s) it grants hereunder.


                                  ARTICLE XIII

                                 COMMUNICATION

         Any payment, notice or other communication required or permitted to be
made or given to a Party pursuant to this Agreement shall be sufficiently made
or given on the date of mailing if sent to such Party by certified or
registered mail, postage prepaid, addressed to it at its address set forth or
to such other address as it shall designate by written notice to the other
Party as follows:





                                       21





Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.
<PAGE>   25





         In the case of LICENSOR:

                 President
                 Competitive Technologies, Inc.
                 c/o USET
                 P. 0. Box 340
                 Fairfield, Connecticut 06430

         In the case of LICENSEE:

                 President
                 Ribozyme Pharmaceuticals, Inc.
                 2950 Wilderness Place
                 Boulder, Colorado 80301





                                      22



Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.
<PAGE>   26





                                  ARTICLE XIV

                                  ASSIGNMENTS

         This Agreement shall not be assignable by LICENSEE without the prior
written consent of LICENSOR except to a successor in ownership of all or
substantially all of the business assets of LICENSEE, and which successor shall
expressly assume in writing the performance of all the terms and conditions of
this Agreement to be performed by the assigning Party.


                                   ARTICLE XV

                                 MISCELLANEOUS

         1.      Execution.  This Agreement will not be binding upon the
Parties until it has been signed herein below by or on behalf of each Party, in
which event it shall be effective as of the date first above written.  No
amendment or modification hereof shall be valid or binding upon the Parties
unless made in writing and signed as aforesaid.

         2.      Construction.  This Agreement embodies the entire
understanding of the Parties and shall supersede all previous communications,
representations or undertakings, either verbal or written between the Parties
relating to the subject matter hereof.

         3.      Indemnification.  LICENSEE agrees to indemnify and hold
harmless LICENSOR, the Foundation, URC, and the Inventors from and against any
and all claims, damages and liabilities asserted by third parties (private and
governmental) arising from LICENSEE's sale of Product Units and/or the
purchaser's use thereof or from the performance of Licensed Services or use of
Licensed Methods, as the case may be.

         4.      Anonymity.  LICENSEE shall have no right to use the names or
other designation of THE UNIVERSITY OF COLORADO or the Inventors in connection
with any sales or promotion of Product Units, Licensed services and Licensed
Methods, as the case may be without the express written consent of the
University of Colorado or the Inventors, as the case may be.





                                       23





Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.
<PAGE>   27




         5.      Severability.  If any provision or provisions of this
Agreement shall be held to be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions shall not in any way be
affected or impaired thereby.

         6.      Jurisdiction.  This Agreement shall be construed, and the
legal relations between the Parties determined, in accordance with the law of
the State of Connecticut, U.S.A.

         7.      Headings.  The headings of the several sections are inserted
for convenience of reference only, and are not intended to be part of or to
affect the meaning or interpretation of this Agreement.

         8.      Force Majeure.  Neither of the Parties hereto shall be liable
in damages or have the right to cancel this Agreement for any delay or default
in performing hereunder if such delay or default is caused by conditions beyond
its control, including acts of God, government restrictions, wars or
insurrections.

         9.      No Waiver.  Failure by either party to enforce any provision
of this Agreement or assert a claim on account of breach hereof shall not be
deemed a waiver of its right to enforce the same or any other provision hereof
on the occasion of a subsequent breach.

         10.     Compliance.  LICENSEE agrees to comply voluntarily with and
abide by the United States Department of Health and Human Services, National
Institutes of Health "Guidelines for Research Involving Recombinant DNA
Molecules".  June 1981, 46 F.R. 34461, or as subsequently amended, so long as
LICENSEE uses the Patented Substances conveyed to it hereunder.

         11.     Remedies.  The remedies provided in this Agreement are not and
shall not be deemed to be exclusive and shall be in addition to any other
remedies which either party may have at law or in equity.

         12.     Counterparts.  This Agreement may be executed in two (2) or
more counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.





                                       24





Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.
<PAGE>   28





         IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to
be duly executed as of the date first above written.

                                    COMPETITIVE TECHNOLOGIES, INC.

                                    By:      /s/ George M. Stadler
                                    Title:   President/Chief Executive Officer
                                    Date:    February 18, 1997

                                    RIBOZYME PHARMACEUTICALS, INC.

                                    By:      /s/ Ralph E. Christoffersen
                                    Title:   President/Chief Executive Officer
                                    Date:    February 24, 1997



         By its subscription hereto, UNIVERSITY OF COLORADO FOUNDATION, INC.
consents to and acknowledges the terms and conditions of the Agreement within.



                                    By:      /s/ Charles G. McCord
                                    Title:   President
                                    Date:    February 26, 1997



         By its subscription hereto, UNIVERSITY RESEARCH CORPORATION consents
to and acknowledges the terms and conditions of the Agreement within.


                                    By:      /s/ Charles G. McCord
                                    Title:   President
                                    Date:    February 26, 1997





                                       25





Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.
<PAGE>   29





                                  EXHIBIT A
                               What is claimed:

[  ]





                                      26





Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.
<PAGE>   30





                                   EXHIBIT B
                               "Licenses Patents"
                        Patents and Pending Applications

<TABLE>
<CAPTION>
====================================================================================================
                                PATENT NO. OR
      CLAIMS                PATENT APPLICATION NO                              TITLE
    <S>           <C>                                         <C>
----------------------------------------------------------------------------------------------------
      1 - 47      U.S. Pat. No. 4,987,071 (Parent)            RNA Ribozyme Polymerase
                                                              Dephosphorylases Restriction
                                                              Endoribonucleases and Methods
----------------------------------------------------------------------------------------------------
     48 - 62      U.S. Pat. No. 5,093,246  (Division of       RNA Polymerase Dephosphorylases
                  U.S. Pat. No. 4,987,071)                    Restriction
                                                              Endoribonucleases and Methods
----------------------------------------------------------------------------------------------------
     63 - 66      Pat. No. 4,987,071                          See above
----------------------------------------------------------------------------------------------------
    67 and 68     U.S. Pat. No. 5,093,246                     See above
----------------------------------------------------------------------------------------------------
        69        U.S. Pat. No. 4,987,071                     See above
----------------------------------------------------------------------------------------------------
        70        U.S. Pat. No. 4,987,071                     See above
----------------------------------------------------------------------------------------------------
        71        U.S. Pat. No. 5,093,246                     See above
----------------------------------------------------------------------------------------------------
        72        U.S. Pat. no. 5,037,746  (Continuation-     RNA Ribozyme Polymerases and Methods
                  in-part of
                  U.S. Pat. No. 4,987,071)
----------------------------------------------------------------------------------------------------
        73        Pat No. 4,987,071                           See above
====================================================================================================
</TABLE>



Notes:

1.       U.S. Patent No. 5,116,742 entitled "RNA Ribozyme Restriction
Endoribonucleases and Methods," filed March 24, 1989, is a continuation-in-part
of U.S. Patent No. 4,987,071, and includes additional claims which were not
contained in the original patent application.

2.       U.S. Patent Application Serial No. 843,737 entitled "RNA Polymerase
Dephosphorylases Restriction Endoribonucleases and Methods," filed February 28,
1992, is a continuation of U.S. Patent No. 5,093,246.  It has been allowed, and
the issue fee is due to be paid on or before February 24, 1994.





                                       27





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240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.
<PAGE>   31





                                   EXHIBIT C
                              Patented Substances

[      ]





                                      28





Confidential portions ( [  ] ) have been omitted pursuant to regulation
240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed
separately with the Commission.