Document:

Exhibit
      10.9

     

    EMPLOYMENT
      AGREEMENT

    

    THIS
      EMPLOYMENT AGREEMENT
      (this
“Agreement”), is made and entered into as of the 16 day of November, 2005 (the
“Effective Date”), by and between MODIGENETECH LTD.,
      an
      Israeli corporation (“Employer”), and Dr. Eyal Fima, ID no.58432790
      (“Employee”).

     

    RECITALS

     

    
      	 	
              A.

            	
              Employer
                desires to have Employee serve in the position of VP of Product
                Development and Employee desires to serve in such
                position.

            

    

     

    
      	 	
              B.

            	
              Employer
                and Employee have made commitments to each other on a variety of
                important
                issues concerning Employee’s employment, including the performance that
                will be expected of Employee, the compensation that Employee will
                be paid,
                how long and under what circumstances Employee will remain employed
                and
                the financial details relating to any decision that either Employee
                or
                Employer might ever make to terminate this
                Agreement.

            

    

     

    
      	 	
              C.

            	
              Employer
                and Employee believe that the commitments they have made to each
                other
                should be memorialized in writing, and that is the purpose of this
                Agreement.

            

    

     

    NOW,
      THEREFORE,
      in
      consideration of the premises and of the covenants and agreements hereinafter
      contained, it is covenanted and agreed by and between the parties hereto as
      follows:

     

    AGREEMENTS

     

    Section
      1. Term.
      Employee’s employment hereunder shall be for a term of one______ (_1) years
      commencing the Effective Date (the “Term”). The Term shall automatically extend
      for one (1) additional year on each subsequent anniversary of the Effective
      Date
      (the “Automatic Extension”), unless either party provides written notice to the
      other not less than ninety (90) days prior to such anniversary of the Effective
      Date. If the Automatic Extension is terminated, then Employee’s employment
      hereunder shall terminate as of the last day of the then current
      Term. 

     

    Section
      2. Position
      and Duties.
      Employer
      hereby employs Employee as the VP of Product Development. Employee will devote
      Employee’s full business time and best efforts to the performance of Employee’s
      duties hereunder and will not engage in any other business, profession or
      occupation for compensation or otherwise which would conflict or interfere
      with
      the rendition of such services, without the prior written consent of the Board
      of Directors of Employer (the “Board”); provided,
      that
      nothing herein shall preclude Employee, subject to the prior approval of the
      Board, from engaging in other business professions or occupations for
      compensation or otherwise or from accepting appointment to or continuing to
      serve on any board of directors or trustees of any business corporation or
      any
      charitable organization; provided
      further,
      that, in
      each case, and in the aggregate, such activities do not conflict or interfere
      with the performance of Employee’s duties hereunder or conflict with
Section
      7.
      Employee’s duties and authority shall consist of and include all duties and
      authority customarily performed and held by persons holding equivalent positions
      with business organizations similar in nature and size to Employer, as such
      duties and authority are reasonably defined, modified and delegated from time
      to
      time by the Chief Executive Officer (“CEO”) and the President. Employee shall
      have the powers necessary to perform the duties assigned to him.

     

    
      
        
        

      

      
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    Section
      3. Compensation.
      Employee’s monthly salary and other terms of employment shall be as set forth in
      the Notice to Employee attached hereto as Exhibit
      A,
      as
      required by law, and as may be amended from time to time. As compensation for
      the services to be provided by Employee hereunder, Employee shall receive the
      following compensation, expense reimbursement and other benefits:

     

    (a) Base
      Salary.
      Employee
      shall receive an aggregate monthly base salary of Twenty five thousands NIS
      (NIS_25000) payable in installments in accordance with the regular payroll
      schedule of Employer
      but no
      later than the 9th
      day of
      each month
      (“Base
      Salary”). The Base Salary shall be subject to review annually commencing on
      January 1, 2006, and shall be maintained or increased during the term
      hereof as the Board may determine from time to time.

     

    (b) Performance
      Bonus.
      Employee shall be eligible to receive an annual cash bonus up to 25% of Base
      Salary, as determined by the Board, payable within ninety (90) days after the
      end of the fiscal year of Employer, which shall be based upon performance
      criteria established by the CEO (“Performance Bonus”).

     

    (c) Equity
      Performance Awards.
      The
      Company will recommend to the Board of Directors of the Employer’s parent
      company, Modigene Inc., to grant Employee 25,000 options to purchase common
      stock of Modigene Inc. In
      the
      event such options are granted by Employer's parent company, the
      terms
      of such an option award shall be detailed in a separate option grant
      agreement.

     

    (d) Discretion
      of the Board.
      Additional incentive compensation shall be at the discretion of the
      Board.

    

    (e) Car.
      Employee
      shall be entitled to use a Company car (Mazda 3 1600 or a car of equivalent
      class, as shall be determined by the Employer) pursuant to the terms and
      conditions of the Employer’s car policy as shall be adopted by Employer and may
      be amended by Employer from time to time (the “Car Policy”). Employer shall
      gross up Employee’s Base Salary any tax liability incurred with respect to the
      car’s “value equivalent” (the value of the car usage) for tax purposes as
      updated from time to time. Subject
      to applicable law, in the event that Employee fail to timely pay any fines,
      penalties, costs or other obligations in respect of the car (excluding any
      costs
      and payments which are borne by Employer pursuant to the terms of the Car
      Policy), Employer shall be entitled to pay such fines, penalties, costs or
      other
      obligations and to deduct such costs from Employee’s Base Salary.

    

    (f) Mobile
      Phone.
      Employer
      shall furnish Employee with a cellular telephone, and the shall bear all
      business-related cellular phone expenses for using such telephone, but shall
      not
      bear any personal-related cellular phone expenses for using such telephone.
      Any
      tax to be imposed on Employee with respect to such telephone will be borne
      by
      Employee.

     

    
      
        
        

      

      
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    (g) Insurance
      Policy.
      Employer
      shall provide Employee with customary “Executive’s Insurance Policy” or other
      comprehensive pension arrangement, at Employee’s choice, (including disability
      insurance and loss of working capacity insurance) collectively, the “Pension
      Insurance”) and shall pay for that purpose sums which shall not exceed 15.83 %
      of the Base Salary) in addition to Employees own payments. In the event of
      an
      increase in the Base Salary, all such sums shall be based on the increased
      Base
      Salary.

     

    (h) Study
      Fund.
      Employer
      shall contribute an aggregate monthly amount equal to 7.5% of the Salary towards
      an advanced study fund (Keren Hishtalmut) (the “Advanced Study Fund”). Employee
      shall contribute, and for that purpose Employee hereby irrevocably authorizes
      and instructs Employer to deduct from Employee’s Base Salary at source, an
      aggregate monthly amount equal to 2.5% of the Base Salary as Employee’s
      participation in such Advanced Study Fund. Employee will bear any and all taxes
      applicable in connection with amounts payable by Employee and/or Employer to
      the
      Advanced Study Fund.

     

    (i) Vacations,
      Sick Leave. Employee
      shall be entitled to an annual vacation of 22 days per annum, which vacation
      shall be taken at a time or times mutually agreeable to Employer and Employee.
      In addition, Employee shall be entitled to paid sick leave (“Dmei Machala”) as
      prescribed under Israeli law.

     

    (j)  Reimbursement
      of Expenses.
      Employee
      shall be reimbursed, upon submission of appropriate vouchers and supporting
      documentation, for all travel, entertainment and other out-of-pocket expenses
      reasonably and necessarily incurred by Employee in the performance of his duties
      hereunder. Any expense greater than $50 shall be pre-approved by the CEO in
      writing or via email

     

    (k) Withholding.
      Employer
      shall be entitled to withhold from amounts payable to Employee hereunder, any
      federal, state or local withholding or other taxes or charges which it is from
      time to time required to withhold. Employer shall be entitled to rely upon
      the
      opinion of its legal counsel with regard to any question concerning the amount
      or requirement of any such withholding.

     

    Section
      4. Work
      and Rest Hours Law, 1951. 

     

    Employee
      acknowledges and agrees that Employee’s employment with the Employer is a senior
      position and requires a special degree of personal trust, and that the law
      known
      as “Work and Rest Hours Law, 1951” (“Chok Shot Avoda Vemenucha”) shall not apply
      to Employee’s relationship with Employer. Accordingly, the monthly salary
      payable to Employee is a gross global salary inclusive of remuneration for
      working overtime and on days of rest. Employee acknowledges and agrees that
      unless expressly specified in this Agreement, Employee shall not be entitled
      to
      any further remuneration or payment whatsoever other than the monthly Base
      Salary and benefits expressly provided herein, regardless of any current or
      future custom between Employer and its employees.

     

    
      
        
        

      

      
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    Section
      5. Confidentiality
      and Loyalty. 

     

    (a) Confidentiality.
      

     

    (i) Employee
      will not at any time (whether during or after Employee’s employment with
      Employer) (x) retain or use for the benefit, purposes or account of
      Employee or any other Person; or (y) disclose, divulge, reveal,
      communicate, share, transfer or provide access to any Person outside Employer
      (other than its professional advisers who are bound by confidentiality
      obligations), any non-public, proprietary or confidential
      information - including, without limitation trade secrets, know-how,
      research and development, software, databases, inventions, processes, formulae,
      technology, designs and other intellectual property, information concerning
      finances, investments, profits, pricing, costs, products, services, vendors,
      customers, clients, partners, investors, personnel, compensation, recruiting,
      training, advertising, sales, marketing, promotions, government and regulatory
      activities and approvals - concerning the past, current or future
      business, activities and operations of Employer, its subsidiaries or affiliates
      and/or any third party that has disclosed or provided any of same to Employer
      on
      a confidential basis (“Confidential Information”) without the prior written
      authorization of the Board. 

     

    (ii) “Confidential
      Information” shall not include any information that is (a) generally known
      to the industry or the public other than as a result of Employee’s breach of
      this covenant or any breach of any other confidentiality obligations by third
      parties; (b) made legitimately available to Employee by a third party
      without breach of any confidentiality obligation; or (c) required by law to
      be disclosed; provided,
      that
      Employee shall give prompt written notice to Employer of such requirement,
      disclose no more information than is so required, and cooperate with any
      attempts by Employer to obtain a protective order or similar
      treatment.

     

    (iii) Except
      as
      required by law, Employee will not disclose to anyone, other than Employee’s
      immediate family and legal or financial advisors, the existence or contents
      of
      this Agreement; provided,
      that
      Employee may disclose to any prospective future employer the provisions of
      Section
      5
      and
Section
      7
      of this
      Agreement provided they agree to maintain the confidentiality of such terms.
      Notwithstanding anything herein to the contrary, any party to this Agreement
      (and any employee, representative, or other agent of any party to this
      Agreement) may disclose to any and all persons, without limitation of any kind,
      the tax treatment and tax structure of the transactions contemplated by this
      Agreement and all materials of any kind (including opinions or other tax
      analyses) that are provided to it relating to such tax treatment and tax
      structure. However, any such information relating to the tax treatment or tax
      structure is required to be kept confidential to the extent necessary to comply
      with any applicable federal or state securities laws.

     

    (iv) Upon
      termination of Employee’s employment with Employer for any reason, Employee
      shall (x) cease and not thereafter commence use of any Confidential
      Information or intellectual property (including, without limitation, any patent,
      invention, copyright, trade secret, trademark, trade name, logo, domain name
      or
      other source indicator) owned or used by Employer, its subsidiaries or
      affiliates; (y) immediately destroy, delete or return to Employer, at
      Employer’s option, all originals and copies in any form or medium (including
      memoranda, books, papers, plans, computer files, letters and other data) in
      Employee’s possession or control (including any of the foregoing stored or
      located in Employee’s office, home, laptop or other computer, whether or not
      Employer property) that contain Confidential Information or otherwise relate
      to
      the business of Employer, its affiliates and subsidiaries, except that Employee
      may retain only those portions of any personal notes, notebooks and diaries
      that
      do not contain any Confidential Information; and (z) notify and fully
      cooperate with Employer regarding the delivery or destruction of any other
      Confidential Information of which Employee is or becomes aware.

     

    
      
        
        

      

      
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    (b) Intellectual
      Property.

     

    (i) If
      Employee creates, invents, designs, develops, contributes to or improves any
      works, either alone or with third parties, at any time during Employee’s
      employment by Employer and within the scope of such employment and/or with
      the
      use of any of Employer resources (“Employer Works”), Employee shall promptly and
      fully disclose same to Employer and hereby irrevocably assigns, transfers and
      conveys, to the maximum extent permitted by applicable law, all rights and
      intellectual property rights therein (including rights under patent, industrial
      property, copyright, trademark, trade secret, unfair competition and related
      laws) to Employer to the extent ownership of any such rights does not vest
      originally in Employer.

     

    (ii) Employee
      agrees to keep and maintain adequate and current written records (in the form
      of
      notes, sketches, drawings, and any other form or media requested by Employer)
      of
      all Employer Works. The records will be available to and remain the sole
      property and intellectual property of Employer at all times.

     

    (iii) Employee
      shall take all requested actions and execute all requested documents (including
      any licenses or assignments required by a government contract) at Employer’s
      expense (but without further remuneration) to assist Employer in validating,
      maintaining, protecting, enforcing, perfecting, recording, patenting or
      registering any of Employer’s rights in Employer Works. If Employer is unable
      for any other reason to secure Employee’s signature on any document for this
      purpose, then Employee hereby irrevocably designates and appoints Employer
      and
      its duly authorized officers and agents as Employee’s agent and attorney in
      fact, to act for and in Employee’s behalf and stead to execute any documents and
      to do all other lawfully permitted acts in connection with the
      foregoing.

     

    (iv) Employee
      shall not improperly use for the benefit of, bring to any premises of, divulge,
      disclose, communicate, reveal, transfer or provide access to, or share with
      Employer any confidential, proprietary or non-public information or intellectual
      property relating to a former employer or third party without the prior written
      permission of such third party. Employee hereby indemnifies, holds harmless
      and
      agrees to defend Employer and its officers, directors, partners, employees,
      agents and representatives from any breach of the foregoing covenant. Employee
      shall comply with all relevant policies and guidelines of Employer, including
      regarding the protection of confidential information and intellectual property
      and potential conflicts of interest. Employee acknowledges that Employer may
      amend any such policies and guidelines from time to time, and that Employee
      remains at all times bound by their most current version.

     

    (v) The
      provisions of this Section
      5
      shall
      survive the termination of Employee’s employment for any reason.

     

    
      
        
        

      

      
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    Section
      6. Termination.

     

    (a) Voluntary
      Termination by Employee or Expiration of Term.
      If
      Employee voluntarily terminates his employment under this Agreement, provided
      that he provides prior written notice according to Israeli law, or if the Term
      expires pursuant to notice provided under Section
      1,
      then
      Employer shall only be required to pay Employee such Base Salary as shall have
      accrued through the effective date of such termination and other payments to
      which Employee is entitled to receive according to Israeli law, and Employer
      shall not be obligated to pay any performance bonus for the then current fiscal
      year of Employer, or have any further obligations to Employee. Notwithstanding
      the foregoing, if Employee voluntarily terminates his employment due to
      Employer’s material breach of its obligation to pay Employee pursuant to this
      Agreement and Employee has given Employer notice and a reasonable period to
      cure
      such breach, then Employer shall pay Employee severance payment and all other
      payments to which Employee is entitled to receive according to Israeli law.
      In
      such case, Employer shall not be obligated to pay any remaining performance
      bonus for the then current fiscal year of Employer, or have any further
      obligations to Employee.

     

    (b) Premature
      Termination by Employer.
      In the
      event of the termination of this Agreement by Employer prior to the last day
      of
      the then current term for any reason other than a termination in accordance
      with
      the provisions of Section
      6(c)
      (Termination for Cause), then notwithstanding any mitigation of damages by
      Employee, Employer shall pay Employee severance payment and other payments
      to
      which Employee is entitled to receive according to Israeli law, and Employer
      shall not be obligated to pay any remaining performance bonus for the then
      current fiscal year of Employer, or have any further obligations to Employee.
      Employer shall provide employee with 90 day notice of premature
      termination.

     

    (c) Termination
      for Cause.
      This
      Agreement may be terminated for cause as hereinafter defined. “Cause” shall
      mean:(i) a material violation by Employee of any applicable material law or
      regulation respecting the business of Employer; (ii) Employee
      being found guilty of a felony or an act of dishonesty in connection with the
      performance of his duties as an officer of Employer, or which disqualifies
      Employee from serving as an officer or director of Employer; (iii) the
      willful or negligent failure of Employee to perform his duties hereunder in
      any
      material respect after receipt of written notice from the board and a reasonable
      opportunity to cure; (iv) the willful or negligent failure of Employee to
      obey the reasonable lawful directives of the CEO or President after receipt
      of
      written notice from the board and a reasonable opportunity to cure; and
      (v) to the extent permitted by applicable law, the development by Employee
      of any drug, alcohol or other substance abuse problems, or the commission of
      a
      crime involving moral turpitude. Upon a termination of Employee’s employment
      with Employer for Cause, Employee shall be entitled to receive from Employer
      only such payments as are due and owing to Employee as of the effective date
      of
      such termination.

     

    Section
      7. Restrictive
      Covenant.

     

    (a) Restrictive
      Covenant.
      Employee acknowledges and recognizes the highly competitive nature of the
      businesses of Employer and its affiliates and accordingly agrees as
      follows:

     

    
      
        
        

      

      
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    (i) During
      the term of Employee’s employment and, for a period of one year following the
      date Employee ceases to be employed by Employer (the “Restricted Period”),
      Employee will not, whether on Employee’s own behalf or on behalf of or in
      conjunction with any person, firm, partnership, joint venture, association,
      corporation or other business organization, entity or enterprise whatsoever
      (“Person”), directly or indirectly solicit or assist in soliciting in
      competition with Employer; the business of any client or prospective
      client:

     

    A. with
      whom
      Employee had personal contact or dealings on behalf of Employer during the
      one
      year period preceding Employee’s termination of employment;

     

    B. with
      whom
      employees reporting to Employee had had personal contact or dealings on behalf
      of Employer during the one year immediately preceding Employee’s termination of
      employment; or

     

    C. for
      whom
      Employee had direct or indirect responsibility during the one year immediately
      preceding Employee’s termination of employment.

     

    

    (ii) During
      the Restricted Period, Employee will not directly or indirectly:

     

    A. engage
      in
      any business that competes with the business of Employer or its affiliates
      (including, without limitation, businesses which Employer or its affiliates
      have
      specific plans to conduct in the future and as to which Employee is aware of
      such planning) in any county of any state of the United States or a comparable
      jurisdiction of Israel where Employer or its affiliates manufactures, produces,
      sells, leases, rents, licenses or otherwise provides its products or services
      (“Competitive Business”);

     

    B. enter
      the
      employ of, or render any services to, any Person (or any division or controlled
      or controlling affiliate of any Person) who or which engages in a Competitive
      Business;

     

    C. acquire
      a
      financial interest in, or otherwise become actively involved with, any
      Competitive Business, directly or indirectly, as an individual, partner,
      shareholder, officer, director, principal, agent, trustee or consultant;
      or

     

    D. interfere
      with, or attempt to interfere with, business relationships (whether formed
      before, on or after the date of this Agreement) between Employer or any of
      its
      affiliates and customers, clients, suppliers or investors of Employer or its
      affiliates.

     

    (iii) Notwithstanding
      anything to the contrary in this Agreement, Employee may, directly or indirectly
      own, solely as an investment, securities of any Person engaged in the business
      of Employer or its affiliates which are publicly traded on a national or
      regional stock exchange or on the over-the-counter market if Employee
      (A) is not a controlling person of, or a member of a group which controls,
      such Person and (B) does not, directly or indirectly, own five percent (5%)
      or more of any class of securities of such Person.

     

    
      
        
        

      

      
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    (iv) During
      the Restricted Period, Employee will not, whether on Employee’s own behalf or on
      behalf of or in conjunction with any Person, directly or
      indirectly:

     

    A. Solicit
      or encourage any employee of Employer or its affiliates to leave the employment
      of Employer or its affiliates; or

     

    B.  hire
      any
      such employee who was employed by Employer or its affiliates as of the date
      of
      Employee’s termination of employment with Employer, or who left the employment
      of Employer or its affiliates coincident with, or within one year prior to
      or
      after, the termination of Employee’s employment with Employer, unless such
      employee has not been employed by Employer for a period of six
      months.

     

    (b)
      Remedies
      for Breach of Restrictive Covenant.
      Employee
      acknowledges that the restrictions contained in Section
      5
      (Confidentiality and Loyalty) and Section
      7
      (Restrictive Covenant) of this Agreement are reasonable and necessary for the
      protection of the legitimate business interests of Employer, that any violation
      of these restrictions would cause substantial injury to Employer and such
      interests, that Employer would not have entered into this Agreement with
      Employee without receiving the additional consideration offered by Employee
      in
      binding himself to these restrictions and that such restrictions were a material
      inducement to Employer to enter into this Agreement. Employee further
      acknowledges that a portion of his salary and benefits is paid to him in
      consideration for the obligations contained in Sections 5 and 7 of this
      Agreement. By signing below Employee represents that his execution and
      performance of his obligations under this Agreement will not violate any
      agreement to which he is a party or by which he is bound or any applicable
      law
      or equity principle, and agree to maintain such non violation. In the event
      of
      any violation or threatened violation of these restrictions, Employer, in
      addition to and not in limitation of, any other rights, remedies or damages
      available to Employer under this Agreement or otherwise at law or in equity,
      shall be entitled to preliminary and permanent injunctive relief to prevent
      or
      restrain any such violation by Employee and any and all persons directly or
      indirectly acting for or with him, as the case may be.

     

    (c)
      Enforceability.
      It is
      expressly understood and agreed that although Employee and Employer consider
      the
      restrictions contained in this Section
      7
      to be
      reasonable, if a final judicial determination is made by a court of competent
      jurisdiction that the time or territory or any other restriction contained
      in
      this Agreement is an unenforceable restriction against Employee, the provisions
      of this Agreement shall not be rendered void but shall be deemed amended to
      apply as to such maximum time and territory and to such maximum extent as such
      court may judicially determine or indicate to be enforceable. Alternatively,
      if
      any court of competent jurisdiction finds that any restriction contained in
      this
      Agreement is unenforceable, and such restriction cannot be amended so as to
      make
      it unenforceable, such finding shall not affect the enforceability of any of
      the
      other restrictions contained herein.

     

    Section
      8. General
      Provisions.

     

    (a) Successors;
      Assignment. This
      Agreement shall be binding upon and inure to the benefit of Employee, Employer
      and his and its respective personal representatives, successors and assigns,
      and
      any successor or assign of Employer shall be deemed the “Employer” hereunder.
      Employer shall require any successor to all or substantially all of the business
      and/or assets of Employer, whether directly or indirectly, by purchase, merger,
      consolidation, acquisition of stock, or otherwise, by an agreement in form
      and
      substance satisfactory to Employee, expressly to assume and agree to perform
      this Agreement in the same manner and to the same extent as Employer would
      be
      required to perform if no such succession had taken place.

     

    
      
        
        

      

      
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    (b) Entire
      Agreement; Modifications.
      This
      Agreement constitutes the entire agreement between the parties respecting the
      subject matter hereof, and supersedes all prior negotiations, undertakings,
      agreements and arrangements with respect thereto, whether written or oral.
      Except as otherwise explicitly provided herein, this Agreement may not be
      amended or modified except by written agreement signed by Employee and
      Employer.

     

    (c) Enforcement
      and Governing Law.
      The
      provisions of this Agreement shall be regarded as divisible and separate; if
      any
      of said provisions should be declared invalid or unenforceable by a court of
      competent jurisdiction, the validity and enforceability of the remaining
      provisions shall not be affected thereby. This Agreement shall be construed
      and
      the legal relations of the parties hereto shall be determined in accordance
      with
      the laws of the Israel without reference to the law regarding conflicts of
      law.

     

    (d) Waiver.
      No
      waiver by either party at any time of any breach by the other party of, or
      compliance with, any condition or provision of this Agreement to be performed
      by
      the other party, shall be deemed a waiver of any similar or dissimilar
      provisions or conditions at the same time or any prior or subsequent
      time.

     

    (e) Notices.
      Notices
      pursuant to this Agreement shall be in writing and shall be deemed given when
      received; and, if mailed, shall be mailed by Israeli registered or certified
      mail, return receipt requested, postage prepaid; and if to Employer, addressed
      to the principal headquarters of Employer, attention: President, or,
      if to
      Employee, to his home address set forth below Employee’s signature on this
      Agreement, or to such other address as the party to be notified shall have
      given
      to the other.

     

    (f) Good
      Faith.
      The
      parties will deal with each other in good faith with respect to this
      Agreement.

     

    [Remainder
      of Page Intentionally Left Blank]

     

    
      
        
        

      

      
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    IN
      WITNESS WHEREOF,
      the
      parties have executed this Agreement as of the date first above
      written.

    
      	 	 	 	 
	 MODIGENETECH
              LTD.	 	 	
              EMPLOYEE

            
	 	 	 	 
	
              By: 
/s/
                Shai
                Novik  

              
                

              

            	 	 	
              /s/
                Eyal Fima 

              
                
   

            
	
              Title: President   

            	 	 	
              Address:

            
	 	 	 	 
	 	 	 	 

    

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    Exhibit
      A

    

    

    NOTIFICATION
      TO EMPLOYEE OF EMPLOYMENT CONDITIONS

    

    

    Date:
      January 21, 2006

    

    

    
      	1.	
              Name
                of Employer: ModigeneTech Ltd. 

              Legal
                Entity: Private Company 

              Identification
                Number: 51- 3105205 

              Address:
                3 Meir Weisgal Street, Building #3, Science Park, Nes-Ziona,
                Israel

            

    

     

    Name
      of
      Employee: Eyal Fima 

    Identification
      Number: 58432790

    Address:
      30, Hanoch Albek st. Beer-Sheva, 84833, Israel

    

    
      	2.	
              Date
                of Commencement of Employment: November 16,
                2005

            

    

    Term
      of
      Employment: Employment is for one year period.

    

    
      	
              3.

            	
              Main
                Responsibilities of Employee: All managerial activities related to
                directing the product development of the
                company

            

    

    

    
      	
              4.

            	
              Name
                of Employee’s direct supervisor or direct supervisor’s title: the
                Company’s Chief Executive Officer.

            

    

    

    
      	5.	
              The
                basis upon which Employee’s salary is made:
                monthly.

            

    

    

    
      	
              6.

            	
              Employee’s
                salary is set in accordance with the
                following:

            

    

     

    The
      aggregate fixed payment (gross) to be made to Employee in accordance with the
      Base Salary is 25000 NIS. All payments to be made to Employee as compensation
      are as follows: 

    

      
        	
                Fixed
                  Payments

              	 	
                Non
                  Fixed Payments

              
	
                Payment
                  Type

              	 	
                Timing
                  of payment

              	 	
                Payment
                  Type

              	 	
                Timing
                  of payment

              
	
                Salary
                  (gross) NIS _25000 (inclusive of all such payments that the Company
                  is
                  required to pay under any applicable law)

              	 	
                In
                  accordance with the Company’s normal payroll procedures but no later than
                  the 9th
                  day of each month.

              	 	 	 	 
	 	 	 	 	 	 	 
	
                Recreation
                  Pay (Dmei Havraa)

              	 	
                Once
                  a year in accordance with applicable law

              	 	 	 	 

      

    

     

    
      	
              7.

            	
              Employee’s
                working week shall consist of 43 hours. As the position in the Company
                requires a special degree of personal trust, Employee may be required
                to
                work overtime and on days of rest.

            

    

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    8. The
      rest
      days are Friday and Saturday.

    

    
      	
              9.

            	
              Employee
                declares and agrees that Employer’s
                rules and regulations, as shall be adjusted from time to time by
                Employer
                in
                its sole discretion, shall apply to Employee’s employment with
                Employer
                and
                shall be part of the terms and conditions of Employee’s employment with
                Employer.

            

    

    

    
      	
              10.

            	
              Payment
                of Social Benefits to which Employee will be entitled (percentage
                of
                salary and supplements)*, **:

            

    

    

      
        	
                Payment
                  Type

              	 	
                The
                  institution to whom payment is made and name of the
                  plan

              	 	
                Payment
                  by Employee (in percentage)

              	 	
                Payment
                  by Employer (in percentage)

              	 	
                Payment
                  Commencement Date

              
	
                Managers
                  Insurance Policy

                 

                 

                 

                 

                Education
                  Fund

              	 	
                ________

                 

                 

                 

                 

                 

                 

                ________

              	 	
                5%

                 

                 

                 

                 

                 

                 

                2.5%

              	 	
                13
                  1/3% (8 1/3% for severance pay and 5% for pension benefits) and
                  up to 2.5%
                  for disability insurance

                 

                7.5%

                 

              	 	
                Nov16,
                  2005____, 

                 

                 

                 

                 

                 

                 

                Jan.
                  1st_____,2006

              

      

    

     

    
      	
              11.

            	
              Employer
                is not, nor is an association that Employer belongs to, a party to
                a
                collective agreement that address the employment terms of
                Employee.

            

    

     

    This
      notification is not an employment agreement, but rather an Employer notification
      regarding the main terms and conditions of Employee’s employment with
Employer;
      this
      notification is without prejudice to Employee’s rights pursuant to applicable
      law, any extension order, any collective agreement and his/her employment
      agreement.

    

      
        	
                SIGNATURE
                  OF EMPLOYER:

              	
                DATE:

              
	 	 
	
                /s/Shai
                  Novik

              	 
	 	 
	
                SIGNATURE
                  OF EMPLOYEE:

              	
                DATE:

              
	 	 
	
                /s/
                  Eyal Fima

              	 

      

    

     

    
      
        
        

      

      
        12Exhibit
        10.10

       

      CONSULTING
        AGREEMENT

       

      THIS
        CONSULTING AGREEMENT
        (this
“Agreement”)
        is
        made and entered into as of January 1, 2007 (the
        “Effective Date”),
        by and
        between MODIGENETECH
        LTD.,
        an
        Israeli corporation (the “Company”)
        and
        Dr. Fuad Fares (the “Consultant”)
        operating through his privately owned company _________________ Ltd.
        (“FCO”)
        through which the Consultant services to the Company will be
        rendered.

       

      RECITALS

       

      WHEREAS,
        the
        Company desires the expertise the Consultant can provide in connection with
        the
        business of the Company and in connection with certain scientific areas;
        and

       

      WHEREAS,
        the
        Consultant has agreed to provide his services to the Company on the terms
        and
        conditions hereinafter set forth; and

       

      WHEREAS,
        the
        parties also desire to terminate certain prior agreements; 

       

      NOW,
        THEREFORE,
        the
        parties hereby agree as follows:

       

      AGREEMENTS

       

      1. Engagement,
        Period of Engagement.

       

      (a) The
        Company offers to engage the Consultant and the Consultant hereby accepts
        such
        engagement, to provide services to the Company as a consultant for the period
        established under this Section 1
        (the
“Period
        of Engagement”).
        The
        Period of Engagement commences on the Effective Date, and shall end on the
        date
        that is 24 months after the Effective Date. The Period of Engagement may
        be
        extended for subsequent 12-month periods upon the written agreement of the
        Consultant and the Company.

       

      (b) Notwithstanding
        anything contained herein to the contrary, the Period of Engagement shall
        end
        upon any termination of this Agreement pursuant to Section 5.

       

      2. Services.
        During
        the Period of Engagement, the Consultant shall provide the following
        services:

       

      (a) Serving
        in the capacity as the Chief Scientific Officer of the Company and, together
        with the CEO of the Company, advise on all of the scientific affairs and
        operations of the Company, subject to the direction and control of the CEO
        of
        the Company;

       

      (b) Invent,
        improve and design new technologies related with the Company’s business, as
        detailed in the work plan in Schedule A, which shall start upon approval
        of the
        Company’s Board of Directors; and

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      (c) make
        such
        presentations and reports to the Board of Directors of the Company (the
“Board”)
        as and
        when the Board may request.

       

      (d) All
        services listed in Section 2(b) - (d) will be provided by the Consultant
        on part
        time basis of two business days per week.

       

      3. Compensation. In
        consideration for any services to be provided under Section 2,
        the
        Company shall pay to the Consultant a monthly consulting fee of Two Thousand
        U.S. Dollars ($3,000.00) plus V.A.T (if applicable); payable on the first
        of
        each month upon providing the Company with an invoice. In addition, the Company
        shall pay the consultant milestone payments in accordance with the successful
        completion of the milestones as determined by the Company, all as detailed
        in
        Schedule A. Payments will be in Israeli Shekels (IS) according to the official
        IS-US$ exchange rate as published by the Bank of Israel on the date of payment
        in (www.bankisrael.gov.il).

       

      4. Expenses.
        If
        in
        connection with the performance of services hereunder at the request of the
        Company, the Consultant incurs reasonable out-of-pocket costs for expenses
        for
        travel abroad, meals and lodging or other reasonable expenses of a type for
        which other providers of professional services to the Company would be
        reimbursed by the Company, the Consultant shall be entitled to reimbursement
        therefor by the Company in accordance with the reasonable standards and
        procedures established by the Company and communicated to the
        Consultant.

       

      5. Termination
        of Agreement. This
        Agreement and the Period of Engagement established hereunder shall terminate
        immediately upon the occurrence of any of the following events: (i) the
        Consultant’s death; (ii) the Consultant’s material breach of the Consultant’s
        obligations under Section 2
        and
        subsequent failure to substantially cure such breach after notice of such
        breach; (iii) the Consultant’s voluntary termination of this Agreement for any
        reason, upon thirty (30) days written notice to the Company; or (iv) in the
        event of no material breach of the Consultant’s obligations under Section 2 and
        subsequent failure to cure the same, the Company’s voluntary termination of this
        Agreement for any reason, upon thirty (30) days written notice to the
        Consultant. In the event of a termination of this Agreement in accordance
        with
        clause (iv) of the previous sentence, the Company shall pay to the Consultant
        a
        lump sum equal $18,000. Following the termination of this Agreement, the
        Company
        shall have no further obligations hereunder, except as specified in the prior
        sentence. The provisions of Sections 6,
        7,
        16 and
        17 shall survive the termination of this Agreement.

       

      6. Nonsolicitation. In
        consideration of the compensation to be paid to the Consultant pursuant to
        Section 3,
        the
        Consultant hereby covenants and agrees that for a period of twelve (12) months
        following the termination of this Agreement for any reason, the Consultant
        will
        not directly or indirectly (including, without limitation, any action by
        any
        corporation, partnership or other entity for which the Consultant acts as
        officer, employer, or consultant or in which the Consultant directly or
        indirectly holds a shareholder or other ownership position greater than five
        percent (5%)) offer employment to, hire, engage or assist another in offering
        employment to, hiring or engaging (without regard to whether it would be
        in
        competition with the Company’s business) a person who is or was an employee or
        who performed similar services of or for the Company at any time during the
        then
        preceding twelve (12) month period or undertake any business with or solicit
        the
        business of any person, firm or company who shall have been a customer of
        the
        Company during the then preceding twelve (12) month period, in any such case
        without the prior written consent of the Company. 

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      7. Confidential
        Information.
        The
        Consultant shall maintain Confidential Information (as defined below) in
        strict
        confidence and secrecy and shall not at any time, directly or indirectly,
        use,
        publish, make lists of, communicate, divulge or disclose to any person or
        business entity or use for any purpose any Confidential Information or assist
        any third parties in doing so, except on behalf of and for the benefit of
        the
        Company. The Consultant agrees, upon demand by the Company, to promptly return
        all Confidential Information (including any copies, extracts thereof or
        materials reflecting any such information) which is in the Consultant’s
        possession.

       

      For
        purposes of this Agreement, “Confidential
        Information”
shall
        include, but not be limited to, materials, records, data or trade secrets
        regarding the assets, condition, business, financial information, business
        affairs, business matters or other matters related to the Company and to
        its
        direct and indirect subsidiaries and affiliates which the Consultant has
        knowledge of as a result of the Consultant’s services for the Company.
        Confidential Information shall not include information that becomes generally
        available to the public other than as a result of disclosure by the Consultant.
        Nothing in this Agreement modifies or reduces the Consultant’s obligations to
        comply with applicable laws related to trade secrets, confidential information
        or unfair competition.

       

      8. No
        Employment Relationship Created.
        The
        relationship between the Company and the Consultant shall be that of client
        and
        independent contractor. The Company shall not assume, and specifically
        disclaims, any obligations of an employer to an employee which may exist
        under
        applicable law. The Consultant shall be treated as an independent contractor
        for
        all purposes of federal, state and local income taxes and payroll taxes and
        the
        Company shall report on the appropriate IRS Form 1099 all compensation paid
        to
        the Consultant. The Consultant shall be responsible for payment of all taxes,
        including federal, state and local taxes, arising out of the Consultant’s
        activities in accordance with this Agreement, including by way of illustration,
        but not limitation, federal and state personal income tax and social security
        tax, all as may be required by applicable law or regulation. The Consultant
        shall have the full authority to select the means, manner and method of
        performing the services to be performed under this Agreement. The Consultant
        shall not be considered by reason of the provisions of this Agreement or
        otherwise as being an employee of the Company. The Consultant shall not be
        eligible to participate in any employee benefit plans offered by the Company
        or
        any of its subsidiaries to their respective employees.

       

      9. Successors
        and Assigns.
        This
        Agreement will inure to the benefit of and be binding upon the Consultant,
        the
        Consultant’s legal representatives and testate or intestate distributees, and
        the Company, and its successors and assigns, including, in the case of the
        Company, any successor by merger or consolidation or a statutory receiver
        or any
        other person or firm or corporation to which all or substantially all of
        the
        respective assets and business of the Company may be sold or otherwise
        transferred. The Consultant may not assign any of his rights under this
        Agreement without the prior written consent of the Company. Except as expressly
        provided herein, nothing in this Agreement shall be construed to give any
        person
        other than the parties to this Agreement any legal or equitable right, remedy
        or
        claim under or with respect to this Agreement or any provision of this
        Agreement.

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      10. Waiver.
        The
        rights and remedies of the parties to this Agreement are cumulative and not
        alternative. Neither the failure nor any delay by any party in exercising
        any
        right, power or privilege under this Agreement or the documents referred
        to in
        this Agreement will operate as a waiver of such right, power or privilege,
        and
        no single or partial exercise of any such right, power or privilege will
        preclude any other or further exercise of such right, power or privilege
        or the
        exercise of any other right, power or privilege.

       

      11. Modification.
        This
        Agreement may only be amended by a written agreement executed by both
        parties.

       

      12. Notices.
        All
        notices and other communications under this Agreement must be in writing
        and
        will be deemed to have been duly given if delivered by hand or by nationally
        recognized overnight delivery service (receipt requested) or mailed by certified
        mail (return receipt requested) with first class postage prepaid:

       

      
        	
              	(a)	
                if
                  to the Company, to:

              

      

       

      ModigeneTech
        Ltd.

      3
        Sapir
        Street

      Weizmann
        Science Park

      Nes
        Ziona

      Attention:
        CEO

      

      with
        a
        copy to:

       

      Gretchen
        Anne Trofa, Esq.

      Barack
        Ferrazzano Kirschbaum Perlman & Nagelberg LLP

      333
        W.
        Wacker Drive, Suite 2700

      Chicago,
        Illinois 60606

      

      
        	
              	(b)	
                if
                  to Consultant, to:

              

      

       

      _______________

      _______________

      _______________

      

      or
        to
        such other person or place as either party shall furnish to the other in
        writing. Except as otherwise provided herein, all such notices and other
        communications shall be effective: (x) if delivered by hand, when
        delivered; (y) if mailed in the manner provided in this Section, five (5)
        business days after deposit with the United States Postal Service; or
        (z) if delivered by overnight express delivery service, on the next
        business day after deposit with such service.

       

      13. Entire
        Agreement.
        This
        Agreement and any documents executed by the parties pursuant to this Agreement
        and referred to herein constitute a complete and exclusive statement of the
        entire understanding and agreement of the parties hereto with respect to
        their
        subject matter and supersede all other prior agreements and understandings,
        written or oral, relating to such subject matter between the parties.

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

       

      14. Severability.
        Whenever
        possible, each provision of this Agreement shall be interpreted in such manner
        as to be effective and valid under applicable law, but if any provision of
        this
        Agreement is held to be prohibited by or invalid under applicable law, such
        provision will be ineffective only to the extent of such prohibition or
        invalidity, without invalidating the remainder of such provision or the
        remaining provisions of this Agreement. Without limiting the generality of
        the
        foregoing, if the scope of any provision contained in this Agreement is too
        broad to permit enforcement to its full extent, but may be made enforceable
        by
        limitations thereon, such provision shall be enforced to the maximum extent
        permitted by law, and the Consultant hereby agrees that such scope may be
        judicially modified accordingly.

       

      15. Counterparts.
        This
        Agreement and any amendments hereto may be executed in any number of
        counterparts, each of which shall be deemed an original, but all of which
        together shall constitute one and the same agreement.

       

      16. Intellectual
        Property.

       

      1. If
        Consultant creates, invents, designs, develops, contributes to or improves
        any
        works that relate to Employer’s business of developing therapeutic proteins,
        either alone or with third parties, at any time during Consultant’s employment
        by Employer and within the scope of such employment and/or with the use of
        any
        of Employer resources (“Employer Works”), Consultant shall promptly and fully
        disclose same to Employer and hereby irrevocably assigns, transfers and conveys,
        to the maximum extent permitted by applicable law, all rights and intellectual
        property rights therein (including rights under patent, industrial property,
        copyright, trademark, trade secret, unfair competition and related laws)
        of the
        Employer Works to Employer to the extent ownership of any such rights does
        not
        vest originally in Employer.

       

      2. Consultant
        agrees to keep and maintain adequate and current written records (in the
        form of
        notes, sketches, drawings, and any other form or media requested by Employer)
        of
        all Employer Works. The records will be available to and remain the sole
        property and intellectual property of Employer at all times.

       

      3. Consultant
        shall take all requested actions and execute all requested documents (including
        any licenses or assignments required by a government contract) at Employer’s
        expense (but without further remuneration) to assist Employer in validating,
        maintaining, protecting, enforcing, perfecting, recording, patenting or
        registering any of Employer’s rights in the Employer Works. If Employer is
        unable for any other reason to secure Consultant’s signature on any document for
        this purpose, then Consultant hereby irrevocably designates and appoints
        Employer and its duly authorized officers and agents as Consultant’s agent and
        attorney in fact, to act for and in Consultant’s behalf and stead to execute any
        documents and to do all other lawfully permitted acts in connection with
        the
        foregoing.

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

       

      4. Consultant
        shall not improperly use for the benefit of, bring to any premises of, divulge,
        disclose, communicate, reveal, transfer or provide access to, or share with
        Employer any confidential, proprietary or non-public information or intellectual
        property relating to a former employer or third party without the prior written
        permission of such third party. Consultant hereby indemnifies, holds harmless
        and agrees to defend Employer and its officers, directors, partners, employees,
        agents and representatives from any breach of the foregoing covenant. Consultant
        shall comply with all relevant policies and guidelines of Employer, including
        regarding the protection of confidential information and intellectual property
        and potential conflicts of interest. Consultant acknowledges that Employer
        may
        amend any such policies and guidelines from time to time, and that Consultant
        remains at all times bound by their most current version.

       

      5. The
        provisions of this Section 16 shall survive the termination of Consultant’s
        employment for any reason.

       

      IN
        WITNESS WHEREOF, each
        of
        the parties hereto has caused this Agreement to be executed, all as of the
        day
        and year first above written.

       

      
        	
                MODIGENETECH
                  LTD.

              	 	 	 
	 	 	 	 
	 	 	 	 
	By: 	 	 	 
	
                
                  
 

              	 	 	 
	 Its: 	 	 	 
	
                
                  
 

              	 	 	 
	________________________________,
                LTD.	 	 	 
	 	 	 	 

      

      
        	 	 	 	 
	By: 	 	 	 
	
                
                  
 

              	 	 	 
	 Its: 	 	 	 
	
                
                  
 

              	 	 	 
	
              	 	 	 
	
                
                  

                

                Dr.
                  Fuad Fares

              	 	 	 

      

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

       

      Schedule
        A

      

      Work
        Plan for developing a new strategy for designing

      Long
        acting proteins 

      

      
        	
                1.

              	
                Objective
                  -
                  the objective of this work plan is to examine a new strategy of
                  designing
                  long acting proteins that have medical importance using a human
                  peptide
                  that contain the recognition sequence of O-linked oligosaccharides
                  (OLP).

              

      

       

      This
        peptide is rich in O-linked oligosaccharide chains and contain more than
        12
        chains. The CTP that we have used contain 4 O-linked oligosaccharides.
        Therefore, it is possible to use the peptide or part of it. Positive results
        will enable ModigeneTech to apply for new patents of the technology and of
        the
        new designed proteins. 

      

      
        	
                2.

              	
                Scope
                  of work

              

      

       

      To
        prove
        this concept we will use human erythropoietin, because we have in vitro and
        in
        vivo biological systems. I addition, it will be possible to compare the results
        of the new peptide and that of the CTP using the same protein. 

       

      In
        this
        study 4 variants of EPO will be designed. 

       

      The
        program will include two phases:

      

      Phase
        I
        - Fusing
        the new peptide to the N- or to the C- terminal of EPO

       

      In
        this
        phase two versions of the intact
        authentic human erythropoietin molecule
        will be
        prepared. 

      

      
        	
                Molecule

              	 	
                CTP
                  type

              	 	
                Remarks

              
	
                EPO
                  - (OLP)

              	 	
                >12
                  x O-linked glycosylation sites

              	 	
                "Existing
                  version" with 1 additional OLP containing multi chains of O-linked
                  oligosaccharides in the C-terminal of EPO

              
	 	 	 	 	 
	
                (OLP)
                  - EPO

              	 	
                >12
                  x O-linked glycosylation sites

              	 	
                Existing
                  version" with 1 additional OLP containing multi chains of O-linked
                  oligosaccharides in the N-terminal of
                  EPO

              

      

      

      Phase
        II
        - Fusing
        a part of the OLP peptide 

       

      In
        this
        phase two versions of the intact
        human erythropoietin molecule
        fused to
        a part of the OLP in the C- and N- terminals of the molecule.

       

      
        	
                Molecule

              	 	
                CTP
                  Type

              	 	
                Remarks

              
	
                EPO-(1/2
                  OLP) 

              	 	
                ~8
                  x O-linked glycosylated sites 

              	 	
                Attaching
                  a short peptide to the C-terminal 

              
	 	 	 	 	 
	
                (1/2
                  OLP)-E PO

              	 	
                ~8
                  x O-linked glycosylated sites 

              	 	
                Attaching
                  a short peptide to the N-terminal

              

      

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

       

      (a) 3.
        General considerations and responsibilities

      

       This
        plan
        is based on sharing the responsibilities for the preparation of the required
        EPO-OLP versions
        between ModigeneTech and Dr. Fares laboratory:

      

      
        	 	
                3.1

              	
                Dr.
                  Fares Lab - Upstream activities for preparing non-formulated crude
                  concentrated EPO-OLP from
                  the CHO cells growth medium including in-process control to determine
                  concentration and activity of the secreted molecule. .Dr. Fares
                  Lab in
                  collaboration with ModigeneTech will also perform animal studies
                  in animal
                  models to measure the biological activity and biological half-life
                  time of
                  the EPO-OLP.

              

      

      
        	 	 	 

        	 	
                3.2

              	
                ModigeneTech
                  will decide whether to developer outsource the purification processes
                  for
                  those candidate molecules which will demonstrate promising potential
                  in
                  the early studies. 

              

      

      
        	 	 	 

        	
              	3.2.	
                Subcontracting
                  - ModigeneTech will use subcontractors for the experimental parts
                  of the
                  work which require animal studies. 

              

      

      
        	 	 	 

        	
              	3.3.	
                ModigeneTech
                  will apply the results for a patent where Dr. Fuad Fares is the
                  inventor.
                  

              

      

       

      
        
          
            	4.	
                    Basic
                      plan of action

                  

          

        

      

        

      
        	 	
                4.2.

              	
                EPO
                  variants will be prepared using overlapping PCR technique
                  

              

      

      
        	 	 	 

        	 	
                4.3.

              	
                Cloning
                  and expression vectors of the 4 candidate molecules can be done
                  in Dr.
                  Fares Laboratory

              

        	 	 	 

      

      
        	 	
                4.4.

              	
                CHO
                  cells will be used to express the various versions of EPO-OLP.
                  Different
                  CHO cell lines and vectors may be used for doing so.
                  

              

      

      
        	 	 	 

        	 	
                4.5.

              	
                EPO-OLP molecules
                  will be tested for in vitro and in vivo biological
                  activity

              

      

      

      
        
          
            	5.	
                    Material
                      requirements

                  

          

        

      

      

      
        	
              	5.1	
                It
                  is estimated that a quantity of micrograms of each EPO-OLP will
                  be required to carry out the animal
                  experiments.

              

      

      
        	 	 	 

        	 	
                5.2.

              	
                It
                  is estimated that a quantity of ~500μg of each EPO-OLP will
                  be required to carry out the animal
                  experiments

              

      

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

        

      
        	 	
                5.3.

              	
                Level
                  of purity of the EPO-CTP
                  experimental material - crude sterile filtered aqueous solution
                  (in buffer
                  to
                  be determined)
                  following dialysis and concentration using tangential ultrafiltration.
                  

              

      

      
        	 	 	 

        	 	
                5.4.

              	
                Target
                  concentration: to
                  be determined

              

      

       

      
        
          
            	6.	
                    Schedule
                      of time in months

                  

          

        

      

       

      
        	
              	 	
              	 	
                Months

              
	
                Step

              	 	
                Activity

              	 	
                3

              	 	
                6

              	 	
                9

              	 	
                12

              	 	
                15

              	 	
                18

              	 	
                21

              	 	
                24

              
	
                I

              	 	
                Gene
                  fusion, Cloning into expression vectors, sequencing of EPO-OLP
                  variants.
                  

              	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                II

              	 	
                Transfection
                  into CHO cells and stable clone selection 

              	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	
                Collection
                  media, concentration and measuring the concentration of EPO variants
                  by
                  RIA

              	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                III

              	 	
                In
                  vitro biological activity and receptor binding studies

              	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                IV

              	 	
                Animal
                  studies in rodents -2 first candidate molecules 

                 

              	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                V

              	 	
                Animal
                  studies in rodents- 2 second candidate molecules 

                 

              	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

      

       

      
        
          
            	7.	
                    Budget

                  

          

        

      

       

      
        
          	
                  7.1

                	 	 	
                  Oligonucleotides,
                    PCR reagents, enzymes, DNA sequences

                	 	
                  $

                	
                  10000

                	 
	
                  7.2.

                	 	 	
                  Materials
                    (medium, chemicals and disposables)

                	
                   

                	
                  $

                	
                  35,000

                	 
	
                  7.3.

                	 	 	
                  Animals
                    + CRO costs

                	 	
                  $

                	
                  35,000

                	 
	
                  7.4.

                	 	 	
                  Technician
                    (100%) for 24 months 

                	 	
                  $

                	
                  36,000

                	 
	 	 	 	
                   

                	 	 	 	 
	
                  7.5.

                	 	 	
                  Total
                    budget:

                	 	
                  $

                	
                  116,000

                	 

        

      

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

       

      
        
          	8.	
                  Milestones
                    & Payments

                

        

      

      

      
        	
                Step

              	 	
                Milestone

              	 	
                Payment

              	 
	
                I

              	 	 	
                In
                  vitro biological activity and receptor binding studies

              	 	
                $

              	
                7,000

              	 
	
                II

              	 	 	
                Receipt
                  of report by the Company detailing the results of in vitro biological
                  activity and receptor binding assays

              	 	
                $

              	
                20,000

              	 
	
                III

              	 	 	
                Receipt
                  of report by the Company detailing the results of animal studies
                  in
                  rodents with first pair of candidate molecules

              	 	
                $

              	
                37,500

              	 
	
                IV

              	 	 	
                Receipt
                  of report by the Company detailing the results of animal studies
                  in
                  rodents with second pair of candidate molecules

              	 	
                $

              	
                37,500

              	 

      

       

      
        
          
          

        

        
          10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00123-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00123-of-00352.parquet"}]]