Unassociated Document


    
      Exhibit
10.26

    

     

     

    
      
        	
                The
      Frost Group, LLC

              


      

    

    
      
        	
                4400
      Biscayne Boulevard

              


      

    

    
      
        	
                Miami,
      Florida 33137

              


      

    

    


    


    
      	
              Date:

            	
              March
      11, 2009

            


    

    


    
      	
              To:

            	
              Modigene
      Inc.

            


    

    
      	
               
      

            	
              3
      Sapir Street

            


    

    
      	
               
      

            	
              Weizmann
      Science Park

            


    

    
      	
               
      

            	
              Nes-Ziona,
      Israel 74170

            


    

    


    


    


    
      	
              Re:

            	
              Credit
      Agreement

            


    

    


    Reference is hereby made to (i) the
Credit Agreement ( the “Credit
Agreement”) dated as of March 25, 2008 among Modigene, Inc. as the
borrower (the “Borrower”), and The Frost
Group, LLC, as the lender (the “Lender” capitalized terms used
and not otherwise defined herein shall have the meaning assigned to them in the
Credit Agreement), and (ii) the Note.

    


    By signing below, the Lender hereby
agrees that, effective as of the date hereof:

    


    
      	
               
      

            	
              1.

            	
              Notwithstanding
      anything to the contrary in the Credit Agreement or the Note, the One-Year
      Anniversary (as defined in the Note) shall be extended and deemed to be
      April 30, 2009.

            


    

    


    
      	
               
      

            	
              2.

            	
              The
      Lender hereby agrees and acknowledges that the Credit Agreement is binding
      and enforceable against the Lender and that, except for the modifications
      contained herein, the terms, conditions and provisions of the Credit
      Agreement and the Note, and any other documents referred to herein or
      therein, shall continue in full force and
  effect.

            


    

    


    This
agreement shall be governed by, and shall be construed and enforced in
accordance with, the internal laws of the State of Florida.

    


    


    


    [THE
REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK.]

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    SIGNED:

    


    THE
FROST GROUP, LLC.

    


    


    


    
      	
              By:

            	
              /s/
      Steven D. Rubin

            
	 
      	 
      
	
              Name:

            	
              Steven
      D. Rubin

            
	 
      	 
      
	
              Title:

            	
              Member

            


    

    


    


    


    MODIGENE,
INC.

    


    


    


    
      
        
          
            
              	
                      By:

                    	
                            
                        /s/
      Shai Novik

                      

                    	 
	 
      	 
      	 
	
                      Name:

                    	
                      Shai
      Novik

                    	 
	 
      	 
      	 
	
                      Title:

                    	
                      President

                    	 


            

          

        

      

    

    


    


    


     

    
      
        
        

      

      
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