Document:

Registration Rights Agreement

 EXHIBIT 10.5 
 REGISTRATION RIGHTS AGREEMENT 
 THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made and
entered into as of February 12, 2009, by and among Pro-Pharmaceuticals, Inc., a Nevada corporation (the “Issuer”), 10X Fund, L.P., a Delaware limited partnership, or its registered successors and assigns (the “Holder”).

 WHEREAS, pursuant to the terms of a Securities Purchase Agreement, dated as of the date hereof, by and among the Issuer and the Holder
(the “Purchase Agreement”), the Issuer has agreed to issue to the Holder an aggregate of (a) 900,000 shares of unregistered Series B-1 Convertible Preferred Stock, par value $0.01 per share, of the Issuer (the “Series B-1
Preferred”), and (b) up to 2,100,000 shares of unregistered Series B-2 Convertible Preferred Stock, par value $0.01 per share, of the Issuer (the “Series B-2 Preferred,” and collectively with the Series B-1 Preferred, the
“Preferred Shares”), which are each convertible into a number of shares of the common stock, $0.001 par value per share (the “Common Stock”), of the Issuer on a basis set forth in the certificate of designation for the Preferred
Shares (the “Conversion Shares”); 
 WHEREAS, under certain circumstances, the Issuer has the right to pay dividends that accrue on
the Preferred Shares in shares of Common Stock (the “Dividend Shares”); 
 WHEREAS, pursuant to the terms of the Purchase
Agreement, Holder will also receive (a) (i) two Class A-1 Warrants (the “A-1 Warrant”) to purchase one share of Common Stock at an exercise price of $0.50 per share for each Preferred Share, (ii) two Class A-2
Warrants (the “A-2 Warrant”) exercisable to purchase one share of Common Stock at an exercise price of $0.50 per share for each Preferred Share, and (iii) eight Class B Warrants (the “B Warrant”), each of which is
exercisable to purchase one share of Common Stock at a purchase price of $0.50 per share for each Preferred Share (collectively, the “Warrants”, and the shares of Common Stock issuable thereunder, the “Warrant Shares”);

 WHEREAS, it is a condition to the terms of the transactions contemplated by the Purchase Agreement and the Warrants that the Issuer and
the Holder execute this Agreement; 
 NOW, THEREFORE, the parties hereto agree as follows: 
 Section 1. Definitions 
 As used in this Agreement: 
 (a) “Person” shall mean an individual, partnership, corporation, limited liability company, association, trust, joint venture, unincorporated
organization or other entity, and any government, governmental department or agency or political subdivision thereof. 
 (b) the terms
“register,” “registered” and “registration” refer to a registration effected by preparing and filing a registration statement in compliance with the Securities Act (and any post-effective amendments filed or required to
be filed) and the declaration or ordering of effectiveness of such registration statement; 
 (c) the term “Registrable Securities”
means the Conversion Shares, the Dividend Shares and the Warrant Shares; 

 (d) “Registration Expenses” shall mean all expenses incurred by the Issuer in compliance with
Section 2 hereof, including, without limitation, all registration and filing fees, printing expenses, fees and disbursements of counsel for the Issuer, blue sky fees and expenses and the expense of any special audits incident to or required by
any such registration (but excluding the compensation of regular employees of the Issuer, which shall be paid in any event by the Issuer), and reasonable fees and expenses of one counsel to the Holders; 
 (e) “Registration Statement” means a registration statement under the Securities Act, on Form S-1 or such other form promulgated thereunder,
together with such other registrations and filings under other securities laws that are customary with respect to a public offering of securities. 
 (f) “Rule 144” means Rule 144 promulgated under the Securities Act or any successor rule thereto or any complementary rule thereto (such as Rule 144A). 
 (g) “SEC” shall mean the Securities and Exchange Commission. 
 (h) “Securities Act”
shall mean the Securities Act of 1933, as amended. 
 (i) “Selling Expenses” shall mean all underwriting discounts and selling
commissions applicable to the sale of the Registrable Securities of the Holder and any fees and disbursements of counsel to the Holder which are not Registration Expenses. 
 Section 2. Registration 
 As soon as reasonably practicable following the Final Purchase Date (as defined in the
Purchase Agreement), the Issuer shall use its commercially reasonable best efforts to take all steps necessary to effect the registration of the Registrable Securities contemplated hereby including, without limitation: 
 (a) prepare and file a Registration Statement with the SEC to register the Registrable Securities, and use commercially reasonable efforts, including
filing any amendments to such registration statement in response to comments of the staff of the SEC, to have such registration statement declared effective by the SEC as soon as reasonably possible and remain effective for a period of ninety
(90) days or until all of the Registrable Securities have been disposed of; 
 (b) furnish, at least five business days before filing a
Registration Statement that registers such Registrable Securities, a prospectus relating thereto and any amendments or supplements relating to such Registration Statement or prospectus, to counsel selected by the Holder (the “Holder’s
Counsel”), copies of all such documents proposed to be filed (it being understood that such five-business-day period need not apply to successive drafts of the same document proposed to be filed so long as such successive drafts are supplied to
the Holder’s Counsel in advance of the proposed filing by a period of time that is customary and reasonable under the circumstances); 
 (c) notify Holder’s Counsel in writing (i) of the receipt by the Company of any 

  

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notification with respect to any comments by the SEC with respect to such Registration Statement or prospectus or any amendment or supplement thereto or any
request by the SEC for the amending or supplementing thereof or for additional information with respect thereto, (ii) of the receipt by the Company of any notification with respect to the issuance by the SEC of any stop order suspending the
effectiveness of such Registration Statement or prospectus or any amendment or supplement thereto or the initiation or threatening of any proceeding for that purpose and (iii) of the receipt by the Company of any notification with respect to
the suspension of the qualification of such Registrable Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purposes; 
 (d) use its commercially reasonable best efforts to register or qualify such Registrable Securities under such other securities or blue sky laws of such jurisdictions as the Holder reasonably request and do any and
all other acts and things which may be reasonably necessary or advisable to enable the Holder to consummate the disposition in such jurisdictions of the Registrable Securities owned by the Holder; provided, however, that the Company will not be
required to qualify generally to do business, subject itself to general taxation or consent to general service of process in any jurisdiction where it would not otherwise be required to do so but for this paragraph (e) or to provide any
material undertaking or make any changes in its By-laws or Articles of Incorporation which the Company’s Board of Directors determines to be contrary to the best interests of the Company or to modify any of its contractual relationships then
existing; 
 (e) furnish to the Holder such number of copies of a summary prospectus, if any, or other prospectus, including a preliminary
prospectus, in conformity with the requirements of the Securities Act, and such other documents as the Holder may reasonably request in order to facilitate the public sale or other disposition of such Registrable Securities; 
 (f) without limiting subsection (d) above, use its commercially reasonable best efforts to cause such Registrable Securities to be registered with
or approved by such other governmental agencies or authorities as may be necessary by virtue of the business and operations of the Company to enable the Holder to consummate the disposition of the Registrable Securities; 
 (g) notify the Holder on a timely basis at any time when a prospectus relating to the Registrable Securities is required to be delivered under the
Securities Act within the appropriate period mentioned in subsection (a) above, of the happening of any event as a result of which the prospectus included in such Registration Statement, as then in effect, includes an untrue statement of a
material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing and, at the request of the Holder, prepare and furnish to the Holder
a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the offerees of such shares, such prospectus shall not include an untrue statement of a material fact or omit
to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing; 
 (h) subject to the execution of confidentiality agreements in form and substance 

  

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satisfactory to the Company, make available upon reasonable notice and during normal business hours, for inspection by the Holder any underwriter
participating in any disposition pursuant to such Registration Statement and any attorney, accountant or other agent retained by the Holder or underwriter (collectively, the “Inspectors”), all pertinent financial and other records,
pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and
employees to supply all information (together with the Records, the “Information”) reasonably requested by any such Inspector in connection with such Registration Statement. Any of the Information which the Company determines in good faith
to be confidential, and of which determination the Inspectors are so notified, shall not be disclosed by the Inspectors unless (i) the disclosure of such Information is necessary to avoid or correct a misstatement or omission in the
Registration Statement, (ii) the release of such Information is ordered pursuant to a subpoena or other order from a court of competent jurisdiction or (iii) such Information has been made generally available to the public; the Holder
agrees that it will, upon learning that disclosure of such Information is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at the Company’s expense, to undertake appropriate action to prevent
disclosure of the Information deemed confidential. 
 (i) use its commercially reasonable best efforts to obtain from (i) its
independent certified public accountants, “cold comfort” letters, and (ii) its counsel, an opinion or opinions, each in customary form and at customary times; 
 (j) list such Registrable Securities on any national securities exchange on which any shares of the Common Stock are listed or, if the Common Stock is
not listed on a national securities exchange, use its best efforts to qualify such Registrable Securities for quotation on the automated quotation system of the NASDAQ, National Market System or such other national securities exchange as the Holder
shall reasonably request; and 
 (k) otherwise use its commercially reasonable best efforts to comply with all applicable rules and
regulations of the SEC and make available to the Holder, as soon as reasonably practicable, earnings statements (which need not be audited) covering a period of 12 months beginning within three months after the effective date of the Registration
Statement, which earnings statements shall satisfy the provisions of Section 11(a) of the Securities Act. 
 The Holder must timely deliver to the
Issuer a duly completed and signed Selling Securityholder Notice and Questionnaire in the form of Annex A hereto. 
 Section 3. Expenses of Registration

 All Registration Expenses incurred in connection with any registration, qualification or compliance pursuant to this Agreement shall be borne by the
Issuer, and any and all Selling Expenses of the Holder shall be borne by the Holder. 
 Section 4. Indemnification 
 (a) The Issuer will indemnify each Holder and each of its officers and directors, as applicable, with respect to each registration which has been effected
pursuant to this Agreement, 

  

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and each underwriter, if any, and each person who controls any underwriter, against all claims, losses, damages and liabilities (or actions in respect
thereof) arising out of or based on any untrue statement (or alleged untrue statement) of a material fact contained in any prospectus, offering circular or other document (including any related registration statement, notification or the like)
incident to any such registration, qualification or compliance, or based on any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or any
violation by the Issuer of the Securities Act or any rule or regulation thereunder applicable to the Issuer and relating to action or inaction required of the Issuer in connection with any such registration, qualification or compliance, and will
reimburse each Holder and its directors and officers, as applicable, for any legal or any other expenses reasonably incurred in connection with investigating or defending any such claim, loss, damage, liability or action; provided that the Issuer
will not be liable in any such case to the extent that any such claim, loss, damage, liability or expense arises out of or is based on any untrue statement or omission based upon written information furnished to the Issuer by a Holder or underwriter
or any person who controls any underwriter. 
 (b) Each Holder will, if Registrable Securities held by it are included in the securities as
to which such registration, qualification or compliance is being effected, indemnify the Issuer, each of its directors and officers and each underwriter, if any, of the Issuer’s securities covered by such a registration statement, each person
who controls the Issuer or such underwriter, each other stockholder of the Issuer participating in such registration, and each of their respective officers, directors, and partners, and each person controlling such other stockholder, in each case,
against all claims, losses, damages and liabilities (or actions in respect thereof) arising out of or based on any untrue statement (or alleged untrue statement) of a material fact contained in any such registration statement, prospectus, offering
circular or other document made by such Holder, or any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements by such Holder therein not misleading, and will reimburse the
Issuer and such other Holder, directors, officers, members, partners, persons, underwriters or control persons for any legal or any other expenses reasonably incurred in connection with investigating or defending any such claim, loss, damage,
liability or action, in each case to the extent, but only to the extent, that such untrue statement (or alleged untrue statement) or omission (or alleged omission) is made in such registration statement, prospectus, offering circular or other
document in reliance upon and in conformity with written information furnished to the Issuer by such Holder. 
 (c) Each party entitled to
indemnification under this Section 4 (the “Indemnified Party”) shall give notice to the party required to provide indemnification (the “Indemnifying Party”) promptly after such Indemnified Party has actual knowledge of any
claim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of any such claim or any litigation resulting therefrom; provided that counsel for the Indemnifying Party, who shall conduct the defense of such
claim or any litigation resulting therefrom, shall be approved by the Indemnified Party (whose approval shall not unreasonably be withheld) and the Indemnified Party may participate in such defense at such party’s expense (unless the
Indemnified Party shall have reasonably concluded that there may be a conflict of interest between the Indemnifying Party and the Indemnified Party in such action, in which case the fees and expenses of counsel shall be at the expense of the
Indemnifying Party), and provided further that the failure of any Indemnified Party to give notice as provided herein shall not relieve the Indemnifying Party of 

  

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its obligations under this Agreement unless the Indemnifying Party is materially prejudiced thereby. No Indemnifying Party, in the defense of any such claim
or litigation shall, except with the consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified
Party of a release from all liability in respect to such claim or litigation. Each Indemnified Party shall furnish such information regarding itself or the claim in question as an Indemnifying Party may reasonably request in writing and as shall be
reasonably required in connection with the defense of such claim and litigation resulting therefrom. 
 (d) If the indemnification provided
for in this Section 4 is held by a court of competent jurisdiction to be unavailable to an Indemnified Party with respect to any loss, liability, claim, damage or expense referred to herein, then the Indemnifying Party, in lieu of indemnifying
such Indemnified Party hereunder, shall contribute to the amount paid or payable by such Indemnified Party as a result of such loss, liability, claim, damage or expense in such proportion as is appropriate to reflect the relative fault of the
Indemnifying Party on the one hand and of the Indemnified Party on the other in connection with the statements or omissions which resulted in such loss, liability, claim, damage or expense, as well as any other relevant equitable considerations. The
relative fault of the Indemnifying Party and of the Indemnified Party shall be determined by reference to, among other things, whether the untrue (or alleged untrue) statement of a material fact or the omission (or alleged omission) to state a
material fact relates to information supplied by the Indemnifying Party or by the Indemnified Party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 

(e) Notwithstanding the foregoing and subject to Section 4(g) hereof, to the extent that the provisions on indemnification and contribution
contained in the underwriting agreement entered into by, inter alia, the Holder in connection with any underwritten public offering contemplated by this Agreement are in conflict with the foregoing provisions, the provisions in such
underwriting agreement shall be controlling. 
 (f) The foregoing indemnity agreement of the Issuer and the Holder is subject to the
condition that, insofar as they relate to any loss, claim, liability or damage made in a preliminary prospectus but eliminated or remedied in the amended prospectus on file with the SEC at the time the registration statement in question becomes
effective or the amended prospectus filed with the SEC pursuant to SEC Rule 424(b) (the “Final Prospectus”), such indemnity agreement shall not inure to the benefit of any underwriter if a copy of the Final Prospectus was furnished to the
underwriter and was not furnished to the person asserting the loss, liability, claim or damage at or prior to the time such action is required by the Securities Act. 
 (g) Notwithstanding any provision of this Agreement or in any underwriting agreement contemplated hereby, in accordance with Section 17(i) if the Investment Company Act of 1940, as amended, any provision in an
underwriting agreement to be entered into in connection with the registration of Shares pursuant to this Agreement which protects or purports to protect the underwriter or underwriters against any liability to the Issuer or its security Holder to
which such underwriter(s) would otherwise be subject by reason of willful misfeasance, bad faith or gross negligence in the performance of their duties or by reason of such underwriter(s) reckless disregard of their obligations and duties under the
underwriting agreement shall be expressly made inapplicable to the Issuer. 
  

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 Section 5. Information by the Holder 
 Each Holder shall furnish to the Issuer such information regarding such Holder and the distribution proposed by such Holder as the Issuer may reasonably request in writing and as shall be reasonably required in
connection with any registration, qualification or compliance referred to in this Agreement. 
 Section 6. Rule 144 Reporting 
 With a view to making available the benefits of certain rules and regulations of the SEC which may permit the sale of restricted securities to the public without
registration, the Issuer agrees to, in addition to any and all of its other obligations under this Agreement: 
 (a) make and keep public
information available as those terms are understood and defined in Rule 144 at all times; 
 (b) use its commercially reasonable efforts to
file with the SEC in a timely manner all reports and other documents required of the Issuer under the Securities Act and the Exchange Act; and 
 (c) so long as the Holder owns any Registrable Securities, furnish to the Holder upon request a written statement by the Issuer as to its compliance with the reporting requirements of Rule 144 and of the Securities Act and the Exchange Act,
a copy of the most recent annual or quarterly report of the Issuer, and such other reports and documents so filed as the Holder may reasonably request and as is necessary for the Holder to avail itself of any rule or regulation of the SEC allowing
the Holder to sell any of such securities without registration. 
 Section 7. Market Stand-off Agreement 
 The Holder agrees, if requested by the Issuer and an underwriter of the Common Stock (or other securities) of the Issuer, not to sell or otherwise transfer or dispose of
any Common Stock (or other securities of the Issuer) held by the Holder during the 90-day period following the effective date of a registration statement of the Issuer filed under the Securities Act; provided, however, that the Issuer shall not make
such a request unless all similarly situated selling securityholders (regardless of the number of shares owned) are to be restricted in the same manner (including duration and nature of transfer restrictions) without discrimination and the Issuer
accompanies such request with an officer’s certificate identifying the other securityholders to be bound by such an agreement. If requested by the underwriters, the Holder shall execute a separate agreement to the foregoing effect. The Issuer
may impose stop-transfer instructions with respect to the shares (or securities) subject to the foregoing restriction until the end of said 90-day period. The provisions of this Section 7 shall be binding upon any transferee who acquires
Registrable Securities, whether or not such transferee is entitled to the registration rights provided hereunder. 
  

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 Section 8. Miscellaneous 
 (a) Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware applicable to contracts made and to be performed entirely within such State without regard to
principles of conflicts of law. 
 (b) Paragraph and Section Headings. The descriptive headings of the several sections of this Agreement are
inserted for convenience only and shall not control or affect the meaning or construction of any of the provisions hereof. 
 (c) Notices.
All notices, demands or other communications to be given or delivered under or by reason of the provisions of this Agreement shall be in writing and shall be deemed to have been given (i) when delivered personally to the recipient,
(ii) when sent to the recipient by telecopy (receipt electronically confirmed by sender’s telecopy machine) if during normal business hours of the recipient, otherwise on the next business day, (iii) one business day after the date
when sent to the recipient by reputable express courier service (charges prepaid), or (iv) seven business days after the date when mailed to the recipient by certified or registered mail, return receipt requested and postage prepaid. Such
notices, demands and other communications shall be sent to the Holder and to the Issuer at the addresses indicated below: 
  

			
	If to the Holder:	  	 10X Fund, L.P.
 c/o 10X Capital Management,
LLC
 1099 Forrest Lake Terrace
 Niceville, Florida
32578
 Attn: Rod Martin

		
	With a copy to:	  	Investment Law Group of Gillett, Mottern & Walker, LLP
	(which shall not constitute notice)	  	1230 Peachtree Street, N.E., Suite 2445
	  	Atlanta, Georgia 30309
	  	Attention: Robert J. Mottern, Esq.
	  	Fax: (404) 607-6942
		
	If to the Issuer:	  	Pro-Pharmaceuticals, Inc.
		  	7 Wells Avenue
		  	Newton, Massachusetts 02459
		  	Attn: Anthony D. Squeglia, Chief Financial Officer
		  	Fax.: (617) 928-3450
		
	With a copy to:	  	Greenberg Traurig, LLP
	(which shall not constitute notice)	  	1 International Place
	  	Boston, MA 02110
	  	Attention: Jonathan C. Guest, Esq.
	  	Fax.: (617) 897-0966

 or to such other address as a party hereto may, from time to time, designate in writing delivered pursuant to the
terms of this Section. 
 (d) Amendments. The terms, provisions and conditions of this Agreement may not be changed, modified or amended in
any manner except by an instrument in writing duly executed by each of the parties hereto. 
  

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 (e) Assignment. Neither this Agreement nor any of the rights, duties, or obligations of any party
hereunder may be assigned or delegated (by operation of law or otherwise) by either party hereto except with the prior written consent of the other party hereto; provided, however, that the Holder may assign or delegate its rights, duties and
obligations hereunder to any transferee of the Holder’s Registrable Securities who agrees in writing to become bound by the terms and conditions of this Agreement, so long as such assignment or delegation is not in violation of any applicable
law or regulation. 
 (f) Counterparts. For the convenience of the parties, any number of counterparts of this Agreement may be executed by
any one or more parties hereto, and each such executed counterpart shall be, and shall be deemed to be, an original, but all of which shall constitute, and shall be deemed to constitute, in the aggregate but one and the same instrument. 

(g) Entire Agreement. This Agreement embodies the entire agreement and understanding of the parties hereto in respect of the subject matter hereof.
There are no restrictions, promises, representations, warranties, covenants or undertakings, other than those expressly set forth or referred to herein. 
 [Signature Pages Follow] 
  

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 IN WITNESS WHEREOF, each of the parties hereto has caused this Registration Rights Agreement to be
executed on its behalf by its officers thereunto duly authorized, all as of the day and year first above mentioned. 
  

			
	ISSUER:
	
	PRO-PHARMACEUTICALS, INC., a Nevada corporation
		
	By:	 	 /s/ Anthony Squeglia

	Name:	 	Anthony Squeglia
	Title:	 	Chief Financial Officer
	
	HOLDER:
	
	10X FUND, L.P., a Delaware limited partnership
		
	By:	 	10X Capital Management, LLC, a Florida limited liability company, its general partner
		
	By:	 	 /s/ Rod Martin

	Name:	 	Rod D. Martin
	Title:	 	Managing Member

  

 10Technology Transfer and Sharing Agreement

 EXHIBIT 10.6 
 TECHNOLOGY TRANSFER AND SHARING AGREEMENT 
 This Technology Transfer and Sharing Agreement is made
and entered into effective as of February 12, 2009, by and between Pro-Pharmaceuticals, Inc., a Nevada corporation (“ProPharma”), and Medi-Pharmaceuticals, Inc., a Nevada corporation (“MediPharma”). 
 RECITALS 
 A. ProPharma owns ten percent (10%) of the
outstanding capital stock of MediPharma. 
 B. Pro-Pharma and Medi-Pharma entered into the certain License Agreement, dated as of November 25, 2008, as
modified by operation of the certain letter agreement, dated as of December 15, 2008, (collectively, the “License Agreement”). 
 C. The Board
of Directors of each of the parties have determined it to be in the best interest of such party and its shareholders to ‘bifurcate’ the two companies, i.e. to enter into a new contractual arrangement between them, whereby ProPharma will
continue to concentrate in the field of oncology and MediPharma will, separately, concentrate on and develop a business in the field of cardiology. 
 D. The
parties have also determined that, in furtherance of the foregoing, the License Agreement should be terminated. 
 E. The parties wish to set forth the
salient terms of this new contractual arrangement and provide for certain other matters. 
 NOW, THEREFORE, in consideration of the mutual
covenants contained herein, the sufficiency of which is hereby acknowledged and intending to be legally bound, the parties hereto hereby agree as follows: 
 1. Termination of the License Agreement. The License Agreement shall and hereby is, effective the date hereof, terminated, cancelled and deemed to have no force and effect with respect to all of the provisions thereof, with the
parties thereto having no further obligations to one another. 
 2. Sharing With Respect to Fibrosis. It is acknowledged that ProPharma has filed a
use patent with respect to the application of polysaccharides with respect to the disease indication known as Fibrotic tissue in Liver or Kidney (the “LK Fibrosis”). Medi-Pharma shall not, during the Exclusivity Period (as hereinafter
defined), without the explicit written consent from Pro-Pharma, engage in research, evaluation, clinical development, marketing or other commercial exploitation designed to develop regiments and procedures for polysaccharide based therapies in LK
Fibrosis. However, it is agreed and understood that Medi-Pharma and Pro-Pharma shall each have the unrestricted right to engage in research, evaluate and clinically develop regiments and procedures in the field of Fibrotic tissue other than LK
Fibrosis. In furtherance of the foregoing, ProPharma shall and hereby does grant Medi-Pharma unrestricted access (except for DAVANAT) to any and all chemical or molecular designs now owned by Pro-Pharma with respect to the general use of
polysaccharides in the area of Fibrotic tissue for use by Medi-Pharma in applications other than for an LK Fibrosis, and in turn Medi-Pharma shall and hereby does grant 

  

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Pro-Pharma unrestricted access to any and all of its chemical or molecular designs with respect to the general use of polysaccharides in the area of Fibrotic
tissue for use by Pro-Pharma in LK Fibrosis (but not in non-LK Fibrosis indications). In the event Medi-Pharma inadvertently develops during the Exclusivity Period a therapy for the indication of LK Fibrosis, MediPharma hereby grants Pro-Pharma an
exclusive right, exercisable within one hundred twenty (120) days after written notice from MediPharma, to commercially exploit such therapy for a Fair Royalty (as hereinafter defined). 
 3. Acknowledgement and Transfer with respect to Applications other than Fibrosis. It is acknowledged that
Pro-Pharma has engaged in research and clinical development of regiments, procedures and specific drugs and has obtained patents and has patents pending, all with respect to the use of polysaccharides in disease indications defined as Oncology,
including a drug known as DAVANAT® (collectively “Oncology Indications”). In this connection, it is agreed and understood that Medi-Pharma shall have the unrestricted right to
engage in research, evaluate, clinically develop, market and otherwise commercially exploit regiments and procedures involving the use of polysaccharides for the treatment of all disease indications other than Oncology Indications and other than
Fibrosis indications, which are specifically dealt with in Section 2 herein. In furtherance of the foregoing, Pro-Pharma shall and hereby does license to Medi-Pharma in perpetuity any and all research data, chemical and molecular designs and
other intellectual property rights (collectively “Items of IP”) now owned by Pro-Pharma with respect to the use of polysaccharides in the prevention and treatment of Arterial Cardiac Syndrome, Congestive Heart Failure and
Arteriosclerosis/Artheroscelerosis, as well as any other polysaccharides for use in the prevention and treatment of heart diseases (“Heart Indications”). The parties agree that the Items of IP are licensed to Medi-Pharma pursuant to the
preceding sentence are licensed “as is, where is”, with no warranties express or implied, and that Pro-Pharma shall be under no obligation to indemnify or hold Medi-Pharma harmless against any claim by a third party alleging that any Item
of IP infringes its rights. 
 4. Mutual Covenant Not to Compete. Medi-Pharma shall not, during
the period beginning on the date hereof and ending on the fifth (5th) anniversary of the date hereof (the “Exclusivity Period”),
without the explicit written consent from Pro-Pharma, engage in research, evaluation, clinical development, marketing or other commercial exploitation specifically designed to develop regiments and procedures for polysaccharide based therapies in
Oncology Indications. By the same token, Pro-Pharma shall not, during the period beginning on the date hereof and ending on the fifth (5th) anniversary of the date hereof, without the explicit written consent of Medi-Pharma, engage in research, evaluation, clinical development, marketing or other commercial exploitation specifically designed to develop regiments and
procedures for polysaccharide based therapies in Heart Indications. In case Medi-Pharma inadvertently develops during the Exclusivity Period an Item of IP related to polysaccharide based therapies in Oncology Indications, or in case Pro-Pharma
inadvertently develops during the Exclusivity Period an Item of IP related to polysaccharide based therapies in Heart Indications, Medi-Pharma or Pro-Pharma, as the case may be, shall grant ProPharma or MediPharma, as the case may be, an exclusive
right until the end of the Exclusivity Period and a nonexclusive right after the expiration of the Exclusivity Period, each exercisable within one hundred twenty (120) days after written notice from the other party, to commercially exploit such
Item of IP. In the event a party desires to commercially exploit an Item of IP developed by the other party hereunder, the parties agree to negotiate in good faith for a period of 30 days to determine a fair market royalty and other license terms
for the use of the Item 

  

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of IP, taking into account evidence of license terms negotiated by arms length parties in comparable situations, including the size of the market and
potential revenues for the product developed from the Item of IP, the time and investment necessary to obtain an NDA for the product, the ease or difficulty of manufacture and other factors, and in the event the parties cannot agree upon a fair
market royalty and other license terms, the parties agree to submit the issue to an arbitrator in binding arbitration, who shall be authorized to set a fair market royalty and license terms based upon evidence submitted by the parties (the royalty
determined as a result of this process herein called the “Fair Royalty”). The failure of a party to exercise its right to commercially exploit an Item of IP developed by the other party as described above shall not terminate the
Exclusivity Period to which such party is entitled herein, provided, however, that failure to exercise an exclusive right shall terminate any nonexclusive right granted in this Section 4. 
 5. Dispute Resolution. The parties recognize that in the event of a breach by a party of any of the provisions of this Agreement, money damages would not be an
adequate remedy to the other party for such breach and, even if money damages were adequate, it would be difficult to ascertain or measure with any degree of accuracy the damages sustained by the other party therefrom. Accordingly, if there should
be a breach or threatened breach by a party of the provisions of this Agreement, the other party shall be entitled, without posting bond, to an injunction restraining such party from any such breach. Nothing in the preceding sentence shall limit or
otherwise affect any remedies that a party may otherwise have under applicable law, except in case of litigation; each party shall in good faith participate in a mediation process reasonably available to the parties. 
 6. Miscellaneous Provision. 
 (a) This Agreement shall
be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. 
 (b) This Agreement
may be executed in one or more counterpart signature pages, each of which will be deemed to be an original copy of this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement, which shall be binding
upon all of the parties hereto notwithstanding the fact that all parties are not signatory to the same counterpart. The exchange and delivery of executed copies of this Agreement and of signature pages by facsimile transmission, by electronic mail
in “portable document format” (“.pdf”) form, or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document
bearing an original signature and shall be binding for all purposes hereof. 
 (c) This Agreement constitutes the entire agreement between
the parties with respect to the subject matter hereof and supersedes all prior agreements, understandings and negotiations, both written and oral, between the parties with respect to the subject matter of this Agreement. 
 (d) If any provision of this Agreement, or the application thereof to any person, place or circumstance, shall be held by an arbitral tribunal or court
of competent jurisdiction to be invalid, unenforceable or void, the remainder of this Agreement and such provisions as applied to other persons, places and circumstances shall remain in full force and effect if, but only if, after 

  

 3 

 
excluding the portion deemed to be unenforceable, the remaining terms shall provide for the consummation of the transactions contemplated hereby in
substantially the same manner as originally set forth at the later of the date this Agreement was executed or last amended. 
 (e) The
provisions of this Agreement are for the benefit of the parties and no provision of this Agreement shall be deemed to create any third party beneficiary rights in any person, including any officer, director or employee or former employee of any of
the parties or any beneficiary or dependent thereof. 
 (f) This Agreement shall be construed in accordance with and governed by the laws of
the State of Nevada (without reference to its principles of choice or conflict of laws). 
 (g) 10X Fund, LP (“10X Fund”) hereby
acknowledges that this Agreement is an integral part of the “bifurcation” transaction generally described in Recital C hereof, such transaction consisting, among other things, of an up to six million dollars investment by 10X Fund in
preferred stock of ProPharma and the entry (A) by Dr. David Platt and ProPharma into the certain Separation Agreement and (B) by ProPharma, MediPharma, Dr. David Platt and Dr. Eliezer Fomer into the certain Consulting
Services Agreement, each of approximate even date herewith. 
 [Signatures appear on following page.] 
  

 4 

 IN WITNESS WHEREOF, the parties hereto have caused this Technology Transfer and Sharing Agreement to be
duly executed by their respective officers as of the date first above written. 
  

							
	Pro-Pharmaceuticals, Inc.	 	Medi-Pharmaceuticals, Inc.
				
	By:	 	 /s/ Anthony Squeglia
	 	By:	 	 /s/ Rod Martin

		 	Anthony Squeglia, CFO	 		 	Rod Martin, Managing Member

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