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Exhibit 10.32  

	**
	Certain information in these exhibits has been omitted and will be filed separately with the Securities and Exchange Commission pursuant to a confidential
treatment request under 17 C.F.R. Sections 200.80(b)(4), 200.83 and 230.406.

 
 

NON-EXCLUSIVE LICENSE and SUPPLY AGREEMENT
  between
  IMMUNICON CORPORATION
  and
  MOLECULAR PROBES, INC.    
    

        THIS NON-EXCLUSIVE LICENSE and SUPPLY AGREEMENT (hereinafter "Agreement"), dated and effective as of the Effective Date (as hereinafter defined), by
and between Immunicon Corporation, a corporation organized and existing under the laws of the Commonwealth of Pennsylvania, having an office at 3401 Masons Mill, Suite 100, Huntingdon Valley,
Pennsylvania 19006, and its Affiliates (hereinafter collectively, "Immunicon"), and Molecular Probes, Inc., a corporation organized and existing under the laws of Oregon, having an office at
4849 Pitchford Avenue, Eugene, Oregon 97402, and its Affiliates (hereinafter collectively, "MProbes"), on behalf of each of them and their Affiliates (as the term is hereinafter defined). 

WITNESSETH:

        WHEREAS,
Immunicon possesses skills in manufacturing and labeling magnetic particles for various uses and MProbes possesses skills in manufacturing and marketing detection technology for
various uses; and 

        WHEREAS,
each party wishes to cooperate in the development, manufacturing, marketing and sales of products incorporating such magnetic particles for life science applications in the
magnetic separation and fluorescent detection markets; and 

        WHEREAS,
MProbes wishes to receive from Immunicon, and Immunicon wishes to supply MProbes, under the terms and conditions of this Agreement, various Magnetic Separation Materials (as
hereinafter defined), for incorporation by MProbes into Licensed MP Products (as hereinafter defined) intended to be sold solely for life science applications that do not require formal governmental
regulatory approval prior to sale; and 

        WHEREAS,
in order to accomplish the foregoing, Immunicon is willing to grant to MProbes, under the terms and conditions of this Agreement, certain limited rights under Immunicon's
proprietary technology relating to magnetic particle separation, with respect to such life science applications of Licensed MP Products; 

        NOW,
THEREFORE, in consideration of the foregoing premises, the mutual covenants herein contained and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows: 

        1.    DEFINITIONS.    

        Certain
terms are used in this Agreement as specifically defined herein. In addition: 

        1.1   "Affiliate"
when used with respect to either Party, means any corporation, association, partnership, joint venture, trust, organization, or other business entity or
subdivision thereof that directly or indirectly controls, is controlled by or is under direct or indirect common control with such Party. 

        1.2   "Effective
Date" means November 1, 2000. 

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        1.3   "IC
Hardware" means IC Magnets and other products, other than reagents, that are supplied by Immunicon to MProbes hereunder for use in conjunction with the Magnetic
Separation Materials; IC Hardware supplied under this Agreement is listed in Appendix A. 

        1.4   "IC
Magnets" means proprietary magnets that are supplied by Immunicon to MProbes hereunder for use in conjunction with Magnetic Separation Materials. 

        1.5   "IC
Technology" means Immunicon's patents and patent applications ("IC Patents") and other proprietary information and know-how relating to cell analysis
technology and Magnetic Separation Materials, which is directly relevant to the production, promotion, marketing and sale of Licensed MP Products, and which is provided to MProbes by Immunicon
pursuant to this Agreement. IC Patents relevant to this Agreement are listed in Appendix D. 

        1.6   "IC
Trademark" means any trademarks authorized by Immunicon to be used by MProbes in connection with Licensed MP Products during the term of this Agreement; IC
Trademarks authorized for use under this Agreement are listed in Appendix A. 

        1.7   "Licensed
MP Products" means the authorized products listed in Appendix C and packaged, marketed and sold by MProbes hereunder that incorporate Magnetic
Separation Materials. 

        1.8   "Licensed
Use" means use of Licensed MP Products in any life science application only by the end-user, provided that such life science application is not a
Regulated Use. For purposes of this Agreement, "Regulated Use" means any use that occurs in a clinical or diagnostic laboratory environment, and the use or the results thereof are subject to
regulation or control by any governmental body or regulating authority. Licensed Use expressly excludes, by way of example but not limitation, any human and veterinary in vivo or in vitro diagnostic
application such as screening, diagnosis, staging or monitoring of disease; any in vivo imaging; any therapeutic use; and any use approved by, or for which approval could or must be sought, from the
US Food and Drug Administration or from any comparable agency in any country other than the US. 

        1.9   "Magnetic
Separation Materials" means the specific magnetic reagents listed in Appendix A (e.g. [**]) that will be supplied by Immunicon
for use by MProbes according to the terms of this Agreement. 

        1.10 "Net
Sales" means the actual price (including quantity or distributor discounts) at which the transfer of the Licensed MP Product to the customer is made, net of any
separately invoiced shipping charges, taxes, or government fees on the transfer of such Licensed MP Product; and net of any royalties up to [**] of the sale price of the
Licensed MP Product and payable to third parties that is necessary for the manufacture, use, or sale of the Licensed MP Product, provided that, for the purposes of defining net sales, payments to
third parties for the supply of products or their components are not considered royalties. 

        1.11 "Territory"
means all countries of the world. 

        2.    TERM AND TERMINATION.    

        2.1   This
Agreement shall commence on the Effective Date, and continue for the life of the relevant IC Patents, unless one of the termination options identified in this
Article 2 applies. 

        2.2    Termination by Mutual Consent.    This Agreement shall terminate upon the mutual written agreement of the
parties. 

**  Certain information in these exhibits has been omitted and will be filed separately with the Securities and Exchange Commission pursuant to a confidential
treatment request under 17 C.F.R. Sections 200.80(b)(4), 200.83 and 230.406.

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        2.3    Termination by Immunicon with Termination Fee.    This Agreement shall terminate upon notice by Immunicon of
the intended termination date, delivered in accordance with Article 13 thereof, where such notice is given at least twelve months after the Effective Date of the license, and at least twelve
months prior to such intended termination date, and Immunicon pays MProbes a $150,000 termination fee. 

        2.4    Termination by MProbes.    This Agreement shall terminate upon notice by MProbes of the intended termination
date, delivered in accordance with Article 16 hereof, where such notice is given at least ninety days prior to such intended termination date. 

        2.5    Termination for Financial Difficulties.    Either party shall have the right to terminate this Agreement upon
thirty (30) days notice to the other party, if such other party becomes involved in financial difficulties as evidenced: 

        a)    by
such other party's commencement of a voluntary case under any applicable bankruptcy code or statute, or by its authorizing, by appropriate proceedings, the
commencement of such a voluntary case; or 

        b)    by
such other party's failing to receive dismissal of any involuntary case under any applicable bankruptcy code or statute within sixty (60) days after initiation
of such action or petition; or 

        c)     by
such other party's seeking relief as a debtor under any applicable law of any jurisdiction relating to the liquidation or reorganization of debtors or to the
modification or alteration of the rights of creditors, or by consenting to or acquiescing in such relief; or 

        d)    by
the entry of an order by a court of competent jurisdiction finding such other party to be bankrupt or insolvent, or ordering or approving its liquidation,
reorganization, or any modification or alteration of the rights of its creditors or assuming custody of, or appointing a receiver or other custodian for all or a substantial part of its property or
assets; or 

        e)    by
such other party making an assignment for the benefit of, or entering into a composition with, its creditors, or appointing or consenting to the appointment of a
receiver or other custodian for all or a substantial part of its property. 

        2.6    Termination for Material Breach.    If either party breaches or defaults in the performance or observance of
any of the material provisions of this Agreement, and such breach or default is not cured within sixty (60) days after the giving of notice by the other party specifying such breach or default,
the non-defaulting party shall have the right to terminate this Agreement, effective with ten (10) days further notice to the defaulting party. The failure by a party to exercise
its right to terminate this Agreement pursuant to this Section 2.6 in the event of any occurrence giving rise thereto shall not constitute waiver of its rights in the event of any subsequent
occurrence. 

        2.7   Following
the expiration of the relevant IC Patents, Immunicon grants MProbes a right of first negotiation to continue the sale and distribution of IC Magnets and
conjugates of IC BSA Ferrofluids and kits containing such conjugates, for life science applications other than for Regulated Use. 

        2.8   Immunicon
also grants MProbes a right of first negotiation on IC Technology for life science applications other than for Regulated Use, in the event that Immunicon
decides to focus its efforts exclusively in the area of Regulated Use and discontinue its efforts in all other applications. 

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        2.9   Except
as otherwise provided in this Agreement, upon any expiration or termination of this Agreement: 

        a)    All
rights, privileges and licenses granted hereunder shall immediately terminate and revert to Immunicon, and MProbes shall not thereafter make any use whatsoever of any
Magnetic Separation Materials, IC Technology or IC Trademarks, and shall not further market, sell, or distribute any Licensed MP Products; 

        b)    MProbes
shall promptly return or provide to Immunicon, upon the request of Immunicon, all IC Technology and other confidential information disclosed by Immunicon and
existing in tangible form regarding Licensed MP Products, except that MProbes may keep an archival copy of such confidential information of Immunicon in the legal department of MProbes to verify its
obligations under this Agreement; 

        c)     MProbes
shall promptly destroy or transfer to Immunicon, at Immunicon's election, all marketing, labeling, or advertising materials relating to Licensed MP Products or IC
Trademarks; and 

        d)    MProbes
shall pay to Immunicon, within thirty (30) days following such expiration or termination, all amounts due to Immunicon pursuant to the terms and conditions
of this Agreement. 

        2.10 The
provisions of Articles 1, 10, 11, 14, 15 and Section 2.9 hereof shall survive any expiration or termination of this Agreement, together with any other
express right, obligation or duty of the parties which by its nature would survive. 

        3.    RIGHTS GRANTED MPROBES WITH RESPECT TO MAGNETIC SEPARATION MATERIALS.    

        3.1   MProbes
shall, while this Agreement is in effect, have the non-exclusive limited right and license, without the right to sublicense: 

        a)    to
incorporate, or have incorporated, Magnetic Separation Materials supplied by Immunicon hereunder into Licensed MP Products; 

        b)    to
sell or have sold Licensed MP Products or IC Hardware, solely for the Licensed Use in the Territory, either directly to end-users or through MProbes'
standard distribution
channels, where the Licensed MP Products or IC Hardware are sold as packaged by MProbes (with MProbes' standard packaging) and are not repackaged, derivatized, or incorporated into another product by
a third party before transfer to the ultimate consumer; and 

        c)     to
use or have used the IC Trademarks and IC Technology in the Territory solely in connection with the marketing, selling and distributing of Licensed MP Products and/or
IC Hardware, and solely for the Licensed Use in the Territory. 

        3.2   No
other rights or licenses are granted hereunder, it being expressly understood and agreed, by way of example but not limitation, that no right or license is granted to
MProbes hereunder to research, develop, reproduce, copy or reverse engineer Magnetic Separation Materials, to make or have made any Magnetic Separation Materials, to otherwise use or sell Magnetic
Separation Materials or Licensed MP Products or IC Hardware except as permitted herein, or to directly or indirectly develop, produce, market, promote, encourage use of, exploit, offer for sale, sell
or have sold, distribute or have distributed, or otherwise dispose of, Licensed MP Products or IC Hardware in the Territory for any use other than the Licensed Use. 

        3.3   While
this Agreement is in effect, Immunicon shall, by way of example and not by way of limitation, have and retain the rights to develop, make, have made, market, sell,
distribute and use any Magnetic Separation Materials or Licensed MP Products; and to conduct any research and 

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development
or testing activity with respect to Magnetic Separation Materials or Licensed MP Products. Immunicon shall, in addition, retain the right to sell Magnetic Separation Materials to any third
party that approaches Immunicon with respect to purchasing Magnetic Separation Materials before approaching MProbes and independently of marketing efforts of MProbes, regardless of the end use of such
Magnetic Separation Materials by such third party, including without limitation the use thereof in or in connection with Licensed MP Products within the scope of the Licensed Use. 

        3.4   The
rights retained by Immunicon pursuant to paragraph 3.3 notwithstanding, however, nothing in this Agreement grants Immunicon any rights to develop, make, have
made, sell, distribute, or use any proprietary materials or methods or other intellectual property right of MProbes, whether or not protected by patent, trademark or copyright, unless agreed in
writing beforehand between the parties. 

        3.5   If,
during the term of this Agreement, Immunicon desires to grant rights to MProbes with respect to new Licensed MP Products to be marketed and sold by MProbes within
the scope of the Licensed Use as herein defined, the parties shall consider a separate written definitive agreement, or an appropriate amendment to this Agreement, as determined by MProbes and
Immunicon through good faith negotiations. 

        4.    MARKETING OF LICENSED MP PRODUCTS.    

        4.1   MProbes
shall in good faith make reasonable commercial efforts and make reasonable expenditures to diligently market and promote sales of Licensed MP Products for the
Licensed Use in the Territory. MProbes' good faith efforts and expenditures will be at least comparable to MProbes' efforts and expenditures for other MProbes' products. 

        4.2   MProbes
shall provide Immunicon with information about any proposed Licensed MP Products to be marketed and promoted for sale by MProbes as a catalog item, at least
sixty (60) days prior to the first commercialization of such proposed Licensed MP Products. 

        4.3   MProbes
shall cause to have placed on all Licensed MP Products or IC Hardware produced, marketed or sold hereunder, or on the accompanying product literature, a suitable
and clearly legible legend that clearly restricts such Licensed MP Products and IC Hardware to the Licensed Use, such legend to be in content and language(s) appropriate to the particular country or
countries where such Licensed MP Products and IC Hardware are produced, marketed and/or sold and in conformance with all applicable governmental regulatory requirements. Such legend should include, by
way of example but not limitation, the phrase "This product is licensed solely for use in life science applications that are not clinical diagnostic or therapeutic applications" or substantially
equivalent language, indicating appropriate restrictions on use of Licensed MP Products and IC Hardware in accordance with the rights granted MProbes hereunder, and in accordance with US Food and Drug
Administration labeling requirements for products that are not approved for use in diagnostic applications. 

        4.4   MProbes
shall provide a copy of the initial versions of labels and product literature for Licensed MP Products and IC Hardware to Immunicon for review and approval as to
compliance with the requirements of paragraphs 4.3 and 6.2, at least ten (10) days prior to distribution, sale or release of the associated Licensed MP Product or IC Hardware to the market. 

        4.5   MProbes
hereby recognizes and acknowledges that because of the legal and regulatory requirements concerning certain uses of Magnetic Separation Materials, IC Technology
and Licensed MP Products, there exists the legitimate interest of Immunicon in assuring that the foregoing are not used in inappropriate and impermissible ways. Accordingly, in addition to the
marketing requirements of paragraph 4.3 above, MProbes shall use reasonable commercial efforts to monitor its customers and end users of Licensed MP Products sold hereunder to assure 

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compliance
with the Licensed Use hereunder, and shall promptly inform Immunicon in writing of any use by any such customer or end user of which it becomes aware which is not in accordance with the
Licensed Use. 

        4.6   MProbes
shall maintain a bibliography of scientific research publications relating to technical advances in and useful modifications of Licensed MP Products and Licensed
Uses thereof that shall come to its knowledge. Immunicon shall from time to time furnish MProbes with IC Technology as and to the extent Immunicon reasonably determines is necessary to assist MProbes
in such efforts. Management reviews shall be held quarterly, or at intervals mutually agreed between the parties, to review goals, status of marketing and sales activities with respect to Licensed MP
Products, customers and new developments for the Licensed MP Products. 

        5.    PURCHASE OF MAGNETIC SEPARATION MATERIALS AND IC HARDWARE.    

        5.1   During
the term of the Agreement, and subject to all the terms and conditions hereof, Immunicon shall sell Magnetic Separation Materials to MProbes for use and/or
incorporation in Licensed MP Products in the Territory in such quantities as Immunicon is capable of supplying and MProbes may require, expressly subject to the pricing provisions of Article 7
hereof, and MProbes shall purchase such Magnetic Separation Materials exclusively from Immunicon. While this Agreement is in effect and except as provided in Article 11. MProbes shall not,
without Immunicon's prior written consent, sell any other magnetic particle separation product or substance substantially capable of being used, or incorporated into Licensed MP Products, in a similar
manner to Magnetic Separation Materials. For the purposes of this paragraph 5.1, in a "similar manner" means use or incorporation into a product for which Magnetic Separation Materials are
technically and commercially suitable, but does not cover use or incorporation into a product for which Magnetic Separation Materials are not technically or commercially suitable, and for which
MProbes may therefore sell any other magnetic particle separation product or substance without the prior written consent of Immunicon. 

        5.2   The
Magnetic Separation Materials and IC Hardware to be supplied and sold by Immunicon and purchased by MProbes hereunder shall conform to the specifications for same as
set forth in Appendix A, which may be amended from time to time by the parties in writing. 

        5.3   Upon
receipt by Immunicon of a purchase order or equivalent document for Magnetic Separation Materials or IC Hardware from MProbes, Immunicon shall use reasonable
commercial efforts to meet the schedule for delivery requested by MProbes in such document. For each item listed in Appendix A, there is established a commercially reasonable and economical
delivery schedule, and Immunicon shall have no obligation to manufacture or supply Magnetic Separation Materials or IC Hardware to MProbes in advance of such delivery schedule. Immunicon shall notify
MProbes just prior to the shipment of an order. 

        5.4   Except
as otherwise mutually agreed, Immunicon shall ship Magnetic Separation Materials and IC Hardware to MProbes FCA common carrier (INCOTERMS 2000) from the facility
in which such items are manufactured or obtained by Immunicon, and title to and risk of loss of such items shall pass to MProbes upon their delivery to a common carrier. 

        6    MAINTENANCE OF QUALITY/TRADEMARKS.    

        6.1    Quality Standards.    Immunicon shall be responsible for maintaining commercially acceptable quality control
standards in all manufacturing relating to the Magnetic Separation Materials and IC Hardware that it supplies to MProbes hereunder. 

        6.2    Use of IC Trademarks.    The IC Trademarks shall be solely owned by Immunicon. MProbes agrees to use the IC
Trademarks solely in connection with the Licensed MP Products as indicated in Appendix A and in accordance with trademark standards set by Immunicon, and to 

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avoid
taking any action that would in any manner impair or detract from the value of the IC Trademarks or the goodwill and reputation of Immunicon. MProbes hereby acknowledges Immunicon's sole
ownership of the IC Trademarks and related goodwill. MProbes agrees to provide a copy of the use of such IC Trademarks to Immunicon for review, pursuant to paragraph 4.4 above. 

        7.    CONSIDERATION/PRICING.    

        7.1   MProbes
shall compensate Immunicon for the supply of Magnetic Separation Materials and IC Hardware according to the pricing schedule in Appendix B. 

        7.2   In
additional consideration of the rights granted to MProbes hereunder, MProbes shall pay to Immunicon certain percentages of the Net Sales received by MProbes from
sales of Licensed MP Products, on a product-by-product basis while this Agreement is in effect, and other applicable fees, according to the schedule set forth in
Appendix C attached hereto. 

        7.3   Such
payments of percentages of Net Sales due Immunicon hereunder shall be accounted for and paid to Immunicon within thirty (30) days following the close of the
accounting period for each quarter during the term of this Agreement. 

        8.    FORECASTS: ORDERS AND DELIVERIES.    

        8.1   MProbes
shall deliver to Immunicon, within one year after the Effective Date, MProbes' forecast for its requirements of Magnetic Separation Materials for Licensed MP
Products for the remainder of 2001. Thereafter, at least sixty (60) days prior to the start of the next and each succeeding calendar
quarter during the term of the Agreement, MProbes shall provide Immunicon with its non-binding best estimate of its requirements for Magnetic Separation Materials and IC Hardware for the
next succeeding three (3) calendar quarters. Immunicon shall not ship the forecasted items to MProbes, however, until MProbes places an order. 

        8.2   It
is the intent of the parties that MProbes and Immunicon shall cooperate with each other with respect to changes in their requirements and capacity so that each party
may use reasonable commercial efforts to efficiently accommodate the needs of the other. Accordingly, in addition to the forecasts of quarterly requirements required by Section 8.1, MProbes
shall discuss with Immunicon any dramatic changes in its requirements, and Immunicon shall use reasonable commercial efforts, consistent with its then current capacity, to accommodate such dramatic
changes within the next two (2) calendar quarters. In no event shall this Agreement be deemed to be breached or subject to termination if MProbes' requirements hereunder should be reduced to
zero from time to time, or if Immunicon shall fail to supply all of MProbes' requirements of Magnetic Separation Materials from time to time. 

        9.    ACCESS TO BOOKS AND RECORDS.    

        9.1   From
time to time during the term of this Agreement, but not more frequently than two (2) times per year, MProbes shall upon reasonable notice from Immunicon
afford reasonable access to its offices to independent public accountants of Immunicon or other appropriate agents of Immunicon and permit such accountants or agents to inspect MProbes' information,
books and records, subject to appropriate assurances of confidentiality, to verify manufacturing and sales of Licensed MP Products, Net Sales, and the accuracy and completeness of the financial and
other information related to the fulfillment by MProbes of its obligations hereunder. 

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        10.    REPRESENTATIONS, WARRANTIES AND COVENANTS.    

        10.1   Immunicon's Representations, Warranties, and Covenants Immunicon hereby represents, warrants, and
covenants the following: 

        a)    Immunicon
is a corporation duly organized, existing and in good standing under the laws of the Commonwealth of Pennsylvania, with full right, power and authority to enter
into and perform this Agreement and to grant all of the rights, powers, and authorities herein granted. 

        b)    The
execution, delivery and performance of this Agreement do not conflict with, violate, or breach any agreement to which Immunicon is a party, or Immunicon's articles of
incorporation or bylaws. 

        c)     This
Agreement has been duly executed and delivered by Immunicon and is a legal, valid and binding obligation enforceable against Immunicon in accordance with its terms. 

        d)    Immunicon
shall comply with all applicable laws, consent decrees, and regulations of any federal, state, or other governmental authority. 

        e)    To
the best of Immunicon's knowledge and belief as of the Effective Date of this Agreement, there are no issued or pending patent or trademark applications of a third
party that would prevent MProbes from using or selling Licensed MP Products in the Territory for the Licensed Use. 

        10.2   Immunicon
hereby covenants that it shall neither sue nor otherwise attempt to enforce against MProbes any patents or other proprietary rights which
Immunicon now holds, or which Immunicon may acquire or develop hereafter to restrict MProbes from using Magnetic Separation Materials supplied by Immunicon for the making, having made, selling, using
or importing of Licensed MP Products for the Licensed Use under the terms of this Agreement for so long as such Magnetic Separation Materials and Licensed MP Products shall remain subject to the terms
of this Agreement. 

        10.3   Immunicon
shall warrant the IC Hardware sold by MProbes to the same extent that it warrants the same items when such items are sold by Immunicon. 

        10.4    MProbes' Representations. Warranties. and Covenants    MProbes hereby represents, warrants, and covenants the
following: 

        a)    MProbes
is a corporation duly organized, existing and in good standing under the laws of Oregon, with full right, power, and authority to enter into and perform this
Agreement and to grant all of the rights, powers, and authorities herein granted. 

        b)    The
execution, delivery, and performance of this Agreement do not conflict with, violate, or breach any agreement to which MProbes is a party, or MProbes' articles of
incorporation or bylaws. 

        c)     This
Agreement has been duly executed and delivered by MProbes and is a legal, valid, and binding obligation enforceable against MProbes in accordance with its terms. 

        d)    MProbes
shall comply with all applicable laws, consent decrees, and regulations of any federal, state, or other governmental authority. 

        10.5   MProbes
has had the full opportunity to have this Agreement reviewed and approved by its own legal counsel and other advisors, is entering into this
Agreement having made its own independent assessment and judgment concerning the business opportunity and legal rights and obligations under this Agreement and the terms and conditions hereof, and has
not been induced to enter into this Agreement in any way or by any promise not expressly set forth herein. 

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        10.6   Immunicon
shall indemnify, defend, and hold harmless MProbes from any and all damages, cost, expenses, suits, claims and judgments (including reasonable
attorney's fees and costs) arising from the conduct of Immunicon or its officers or employees or arising from the production or sales of Magnetic Separation Materials or IC Hardware by Immunicon to
MProbes, except for any claims, liability, damages, loss of expense caused by MProbes' breach of the warranties herein. 

        10.7   MProbes
shall indemnify, defend, and hold harmless Immunicon from any and all damages, cost, expenses, suits, claims and judgments (including reasonable
attorney's fees and costs) arising from the
conduct of MProbes or its officers or employees or arising from the production, use or sales of Licensed MP Products by MProbes, except for any claims, liability, damages, loss, cost, or expense
caused by Immunicon's breach of the warranties herein. 

        10.8    Indemnification Procedure.    In the event of any claim under this Article 10, the party claiming the
right to indemnity (the "Claimant") shall promptly notify the indemnifying party (the "Indemnitor") of such claim. Thereafter: 

        a)    The
Indemnitor will undertake the defense thereof by representatives of Indemnitor's own choosing reasonably satisfactory to Claimant. Claimant may, at its sole option
and expense, elect to participate in such defense, but the Indemnitor shall assume the direction and control of such defense. The Claimant shall, at its expense, assist in and cooperate with the
Indemnitor and its agents and insurers in the defense of such claims. 

        b)    If
Indemnitor, within a reasonable time after notice of any such claim, fails to defend, Claimant will (upon further notice to the Indemnitor) have the right to undertake
the defense, compromise or settlement of such claim for the account of Indemnitor, subject to the fight of Indemnitor to assume the defense of such claim with counsel reasonably satisfactory to
Claimant at any time prior to settlement, compromise or final determination thereof. 

        c)     Anything
in this Article 10 to the contrary notwithstanding. Indemnitor shall not, without Claimant's prior written consent, settle or compromise any claim or
consent to entry of any judgment with respect to any claim for anything other than money damages paid by Indemnitor which would have any adverse effect on Claimant, Indemnitor may, without Claimant's
prior written consent, settle or compromise any claim or consent to entry of any judgment with respect to any claim which requires solely money damages paid by Indemnitor and which includes as an
unconditional term thereof the release of Claimant by the plaintiff from all liability in respect of such claim. 

        10.9    Rejection and Return.    If any of the Magnetic Separation Materials or IC Hardware supplied by Immunicon
hereunder breaches any warranty herein, MProbes shall promptly notify Immunicon of such breach and may reject such Magnetic Separation Materials or IC Hardware within ninety (90) days after
such breach should have reasonably been discovered and return such Magnetic Separation Materials or IC Hardware, if applicable, to Immunicon at Immunicon's expense. 

        11.    FORCE MAJEURE.    

        11.1   Neither
party hereto shall be considered in default in the performance of its obligations hereunder to the extent that the performance thereof is
prevented or delayed by strikes, labor difficulties, war (declared or undeclared), act of God or the public enemy, rebellions, civil strife, riots, interference by civil or military authorities,
compliance with governmental laws, or rules and regulations or any other cause which is beyond the control of such party; provided, however, that the party whose performance is prevented from due
performance hereunder by the force majeure shall use its reasonable efforts to remove the disability and recommence due performance hereunder at the earliest reasonable time. 

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        11.2   On
the happening of an event of force majeure, the party forced by the event of force majeure to suspend performance (the "Suspending Party") shall
promptly advise the other party (the "Recipient Party") of the event of force majeure, the cause thereof and, to the extent reasonably possible its best estimate of the duration of the suspension (the
"Failure Period"). The notice described in this paragraph shall hereinafter be referred to as the "Suspension Notice." 

        11.3   If
a failure of performance due to a force majeure occurs and continues for a period in excess of fourteen (14) days, or if a Suspension Notice
advises the Recipient Party that a failure of performance will continue for a period in excess of fourteen (14) days, then the Recipient Party may, at its option, contract with any person for
an alternate supply of any item or service to which the failure of performance applies. Any such contract shall be referred to hereafter as an "Alternate Source Contract." 

        11.4   The
Recipient Party shall use all good faith, consistent with sound business practice, to obtain an Alternate Source Contract which will not extend for a
period longer than the length of any stated Failure Period; provided, however, no Alternate Source Contract shall extend for a period longer than six (6) months unless consented to in writing
by the Suspending Party, or unless the Failure Period described in any Suspension Notice is greater than six (6) months (in which case an Alternate Source Contract may extend for the length of
the Failure Period described in the Suspension Notice). 

        11.5   If
any Failure Period continues for a period in excess of twelve (12) months, or if the Suspension Notice states that the Failure Period will
continue for greater than twelve (12) months, the Recipient Party may at its option terminate this Agreement, only with respect to the Licensed MP Products or services subject to such force
majeure, by thirty (30) days written notice. If not terminated, however, this Agreement shall remain in full force and effect until this Agreement is terminated by its terms. 

        12.    ASSIGNMENT.    

        12.1   Except
as otherwise expressly provided herein, this Agreement may not be assigned by either party hereto, whether by operation of law or otherwise,
without the prior written consent of the other party hereto, and any such attempted assignment shall be void and unenforceable; provided, however, that either party may assign its rights and
obligations hereunder without the consent of the other party to an Affiliate of such party, or to a successor in interest to substantially all of the stock, equity or assets of such party to which
this Agreement relates. 

        13.    NOTICES.    

        13.1   All
notices which are required or permitted to be given pursuant to the terms of this Agreement shall be in writing and shall be deemed effective:
(i) upon receipt if given in writing and delivered personally; or (ii) five (5) business days after it shall have been deposited in the United States mails, registered or
certified mail, postage prepaid; or (iii) one (1) day after it shall have been delivered to an overnight courier service, such as Federal Express, all charges prepaid, addressed as
follows: 

If
to MProbes, to: 

Molecular
Probes, Inc.

4849 Pitchford Avenue

Eugene. OR 97402

Phone: 541.465.8300

Fax: 541.465.8354

Attention: Legal Department;

and 

10

 

If
to Immunicon, to: 

Edward
L. Erickson

Chairman and Chief Executive Officer

Immunicon Corporation

3401 Mason Mill, Suite 100

Huntingdon Valley, PA 19006

Phone: 215.830.0777

Fax: 215.830.0751 

Any
of the addresses or addressees set forth in this Article may be changed from time to time by written notice from the party requesting the change. 

        14.    CONFIDENTIALITY OF INFORMATION.    

        14.1   The
parties may wish, from time to time, in connection with this Agreement, to disclose certain of their confidential information to each other. While
this Agreement is in effect and for five (5) years thereafter, a party receiving any such confidential information (the "Receiving Party") shall not itself use for any purpose other than for
which it was disclosed, and shall prevent the disclosure to third parties of, any and all of such confidential information, provided that the Receiving Party's obligation hereunder shall not apply to
information that: 

        a)    is
already in the Receiving Party's possession at the time of disclosure thereof, as evidenced by its written records; 

        b)    is
or subsequently becomes part of the public domain through no fault or action of the Receiving Party; 

        c)     is
subsequently received by the Receiving Party from a third party having no obligation of confidentiality to the party disclosing the confidential information; or 

        d)    is
disclosed to third parties as required by law or governmental regulation. 

        14.2   Paragraph 14.1
notwithstanding, information disclosed by one party to another shall still be deemed confidential information of the party
disclosing such information subject to the protection of this Article 14 if such disclosed information is: 

        a)    a
specific embodiment that is only generally described by information in the public domain or the Receiving Party's possession; or 

        b)    a
combination that can be pieced together and reconstructed from multiple sources, none of which shows the whole combination of materials, its principle of operation, and
method of use. 

        15.    CONTRACT INTERPRETATION.    

        15.2    Governing Law.    This Agreement shall be governed by and construed in accordance with the laws of the
Commonwealth of Pennsylvania, without giving regard to its choice of law or conflict of laws provisions. 

        15.3    Publicity.    Neither party shall issue any press release or other publicity materials, or make any
presentation with respect to the existence of this Agreement or the terms and conditions hereof without the prior written consent of the other party, which consent shall not be unreasonably withheld.
This restriction shall not apply to disclosures required by law or regulation, including as may be required in connection with any filings made with the US Securities and Exchange Commission or by the
disclosure policies of a major Stock Exchange. 

11

 

        15.4    Modification and Amendment.    No supplement, modification or amendment of this Agreement, including the
Appendices thereof, shall be binding unless in writing and executed by MProbes and Immunicon. 

        15.5    Severability.    To the extent that any provision of this Agreement is found by a court of competent
jurisdiction to violate any applicable law or regulation in any jurisdiction, or does so in the opinion of counsel mutually acceptable to both parties, such provision shall be deemed modified only in
that jurisdiction and only to the extent necessary to comply with such law or regulation. In such circumstances, the parties agree to negotiate in good faith amendments to this Agreement designed to
restore to the parties the economic benefits they held under this Agreement prior to the modification. 

        15.6    Counterparts and Headings.    This Agreement may be executed in one or more counterparts, each of which shall
be deemed an original, but all of which together shall constitute one and the same instrument. All headings and captions are inserted for convenience of reference only and shall not affect the meaning
or interpretation of any provision hereof. 

        15.7    Relationship of the Parties.    The status of Immunicon and MProbes hereunder is solely that of independent
contractors. This Agreement shall not create an agency, partnership, joint venture, or employer/employee relationship between the parties, and nothing hereunder shall be deemed to authorize either
party to act for, represent or bind the other except as expressly provided in this Agreement. 

        15.8    Waiver.    No waiver of any right under this Agreement shall be deemed effective unless contained in writing
and signed by the party charged with such waiver, and no waiver of any right shall be deemed to be a waiver of any future right or any other right arising under this Agreement. All rights, remedies,
undertakings, obligations and agreements contained in this Agreement shall be cumulative and none of them shall be a limitation of any other remedy, right, undertaking, obligation or agreement. 

        15.9    Patents and Trademarks.    No right or license is granted by either party hereunder, except as expressly
stated herein, to use or practice any patent rights of the other party, or to use the name, trademarks or tradenames of the other party. Nothing in this Agreement shall be construed as conferring any
right on either party to use or exploit any trade secret or other proprietary right of the other party, except as expressly set forth herein or as may be otherwise separately agreed in writing by the
parties. 

        15.10    Dispute Resolution.    In the event of any dispute between the parties concerning this Agreement, the parties
shall first attempt a resolution thereof by referring the dispute to senior management representatives of each party who shall discuss the matter between them and attempt to reach a reasonable
compromise or other disposition of the dispute. In the event such a compromise or disposition cannot be achieved, the dispute shall be referred to Endispute or a similar dispute resolution
organization for a decision, in accordance with the rules of dispute resolution proceedings of such organization, resolving the dispute, which decision shall be binding upon the parties. 

        15.11    Entire Agreement.    This Agreement constitutes the entire agreement between the parties hereto relating to
the subject matter hereof and supersedes all prior or contemporaneous negotiations, representations, agreements and understandings of the parties relating thereto, whether written or oral. Any
Appendices referred to in this Agreement are incorporated by reference and made a part of this Agreement. The terms of any purchase order, equivalent document or acknowledgement prepared in connection
with this Agreement shall be binding on the parties only to the extent not inconsistent herewith. 

12

 

        IN
WITNESS WHEREOF, the parties hereto have set their hands through their authorized representatives, whereby they evidence their intention to be legally bound. 

	Molecular Probes, Inc.	 	Immunicon Corporation
	

By:	

/s/ RICHARD P. HAUGLAND
	
 	

By:	

/s/ EDWARD L. ERICKSON

	Name:	Richard P. Haugland, Ph.D.
	 	Name:	Edward L. Erickson

	Title:	President
	 	Title:	Chairman, President and CEO

	Date:	11/15/00
	 	Date:	11/17/00

13

APPENDIX A: IC HARDWARE AND MAGNETIC SEPARATION MATERIALS, Corresponding IC Trademark, Relevant Specifications, and Delivery Schedule  

	Item
 
	 	Corresponding IC Trademark
	 	Relevant Specifications
	 	Delivery Schedule

	MAGNETIC SEPARATION MATERIALS: Immunicon's proprietary ferrofluids [**]	 	[none at this time]	 	[to be agreed between the parties in writing]	 	[to be agreed between the parties in writing]
	

IC HARDWARE: IC Magnets	
 	

[none at this time]	
 	

[to be agreed between the parties in writing]	
 	

[to be agreed between the parties in writing]

Appendix
A agreed to and accepted by: 

	Molecular Probes, Inc.	 	Immunicon Corporation
	

By:	

/s/ RICHARD P. HAUGLAND
	
 	

By:	

/s/ EDWARD L. ERICKSON

	Name:	Richard P. Haugland, Ph.D.
	 	Name:	Edward L. Erickson

	Title:	President
	 	Title:	Chairman, President and CEO

	Date:	11/15/00
	 	Date:	    

	**
	Certain information in these exhibits has been omitted and will be filed separately with the Securities and Exchange Commission pursuant to a confidential
treatment request under 17 C.F.R. Sections 200.80(b)(4), 200.83 and 230.406.

APPENDIX B: Pricing Schedule, Unit Size, Minimum Order  

	Item
 
	 	Unit Size
	 	Minimum Order
	 	Pricing Schedule

	MAGNETIC SEPARATION MATERIALS:

  

Immunicon's proprietary ferrofluids [**]	 	[**]	 	at least [**] per purchase order, which purchase MProbes might receive from Immunicon in multiple shipments, at MProbes' option	 	MProbes' base purchase price for the [**] shall be [**], but MProbes shall [**]. The base price shall remain the same during the first twenty-four months after the Effective Date of the Agreement, but may be adjusted once
in every twelve-month period thereafter, at Immunicon's option, in accordance with the corresponding change in the producer price index for intermediate materials/other miscellaneous metal products.
	

IC HARDWARE:

 

IC Magnets	
 	

[**]	
 	

at least [**] per purchase order, which purchase MProbes might receive from Immunicon in multiple shipments, at MProbes' option	
 	

MProbes' purchase price for the current version of IC Magnets would be no greater than [**] for Immunicon's purchase and assembly of IC Magnets, which Immunicon's purchase and assembly of IC Magnets, which purchase price may be adjusted every quarter,
 as agreed between the parties, to maximize total sales of both IC Magnets and products containing [**].
	
	 	 	 	 	 	 

Appendix
B agreed to and accepted by: 

	Molecular Probes, Inc.	 	Immunicon Corporation
	

By:	

/s/ RICHARD P. HAUGLAND
	
 	

By:	

/s/ EDWARD L. ERICKSON

	Name:	Richard P. Haugland, Ph.D.
	 	Name:	Edward L. Erickson

	Title:	President
	 	Title:	Chairman, President and CEO

	Date:	11/15/00
	 	Date:	    

	**
	Certain information in these exhibits has been omitted and will be filed separately with the Securities and Exchange Commission pursuant to a confidential
treatment request under 17 C.F.R. Sections 200.80(b)(4), 200.83 and 230.406.

APPENDIX C: LICENSED MP PRODUCTS that MProbes can manufacture and sell, and Corresponding Royalty Payments, Fees and Other Payments  

	Authorized Products
 
	 	Royalty Payments
	 	Fees and Other Payments

	LICENSED MP

PRODUCTS:

  

conjugates [**], other than streptavidin conjugates of [**], but including CaptAvidin(1) biotin-binding protein conjugates of [**]; such conjugates of [**] may be sold by MProbes as catalog items or as custom products for the Licensed Use	 	 

 

 

royalty of [**] on Net Sales of conjugates of [**] that are sold as standalone reagents;

for conjugates of [**] that are sold in kits, a royalty on such Net Sales that is the greater of

a) [**]% of such Net Sales of kits, or

b) [**]% of the price of the equivalent amount (mg) of conjugate if sold separately or, if no such conjugate is sold separately, of the equivalent amount of a comparable conjugate that is sold separately	 	  

  

  

[**] MProbes purchases of [**] and IC Magnets during the term of the Agreement

	(1)
	CaptAvidin
is MProbes' trademark for biotin-binding protein technology covered by US Patent No. 5,973,124, filed June 13, 1996, issued October 26, 1999 (and any related patents)
licensed to MProbes by Baxter Healthcare Corporation. 

Appendix
C agreed to and accepted by: 

	Molecular Probes, Inc.	 	Immunicon Corporation
	

By:	

/s/ RICHARD P. HAUGLAND
	
 	

By:	

/s/ EDWARD L. ERICKSON

	Name:	Richard P. Haugland, Ph.D.
	 	Name:	Edward L. Erickson

	Title:	President
	 	Title:	Chairman, President and CEO

	Date:	11/15/00
	 	Date:	    

	**
	Certain information in these exhibits has been omitted and will be filed separately with the Securities and Exchange Commission pursuant to a confidential
treatment request under 17 C.F.R. Sections 200.80(b)(4), 200.83 and 230.406.

APPENDIX D: Patent Coverage of IC TECHNOLOGY  

	Item
 
	 	Patent Coverage
 

	MAGNETIC SEPARATION MATERIALS:

  

Immunicon's proprietary ferrofluids [**]	 	US 4,551,435 Selective removal of immunospecifically recognizable substances from solution;
	

 	
 	

US 4,795,698 Magnetic-polymer particles
	

 	
 	

US 4,925,788 Immunoassay system and procedure based on precipitin-like interaction between immune complex and Clq or other non-immunospecific factor
	

 	
 	

US 5,108,933 Manipulation of colloids for facilitating magnetic separation
	

 	
 	

US 5,200,084 Apparatus and methods for magnetic separation
	

 	
 	

US 5,698,271 Methods for the manufacture of magnetically responsive particles
	

 	
 	

PCT 6,120,856 Coated, Resuspendable Magnetically Responsive Transition Metal Oxide Particles and Method for the Preparation Thereof
	

IC HARDWARE: IC Magnets	
 	

US 5,186,827 Apparatus for magnetic separation featuring external magnetic means

  

US 5,200,084 Apparatus and methods for magnetic separation

Appendix
D agreed to and accepted by: 

	Molecular Probes, Inc.	 	Immunicon Corporation
	

By:	

/s/ RICHARD P. HAUGLAND
	
 	

By:	

/s/ EDWARD L. ERICKSON

	Name:	Richard P. Haugland, Ph.D.
	 	Name:	Edward L. Erickson

	Title:	President
	 	Title:	Chairman, President and CEO

	Date:	11/15/00
	 	Date:	11/17/00

	**
	Certain information in these exhibits has been omitted and will be filed separately with the Securities and Exchange Commission pursuant to a confidential
treatment request under 17 C.F.R. Sections 200.80(b)(4), 200.83 and 230.406.

APPENDIX A: IC HARDWARE AND MAGNETIC SEPARATION MATERIALS, Corresponding IC Trademark, Relevant Specifications, and Delivery Schedule [Amended on June 26,
2001]  

	Item
 
	 	Corresponding

IC Trademark
	 	Relevant Specifications
	 	Delivery Schedule

	MAGNETIC SEPARATION MATERIALS:	 	[none at this time]	 	 	 	 	 	 
	

Immunicon's proprietary ferrofluids [**]	
 	

 	
 	
Test
 [**]	
 	
Specification
 [**]	
 	

Within 6 weeks of receipt of an order.
	 	 	 	 	[**]	 	[**]	 	 
	 	 	 	 	[**]	 	[**]	 	 
	

Streptavidin Ferrofluid ("IC Streptavidin Ferrofluid")	
 	

 	
 	
Test
 [**]	
 	
Specification
 [**]	
 	

Within 6 weeks of receipt of an order.
	 	 	 	 	[**]	 	[**]	 	 
	 	 	 	 	[**]	 	[**]	 	 
	

IC HARDWARE:	
 	

[none at this time]	
 	

 	
 	

 	
 	

 
	

Individual IC Magnets	
 	

 	
 	

Visual inspection, underlying product warranted by Immunicon per para. 10.3.	
 	

Within 8 weeks of receipt of an order.
	

—Magnet/Yoke assembly for microscope ("IC Magnet/Yoke Assembly"). Magnet yokes will be provided 1 per box in plastic box with foam insert and with clear lid, with no label. MProbes will label.	
 	

 	
 	
Test
 Inner dimension of chamber cavity:	
 	
Specification
 Width: 1.216-1.220 inches

Height: .368-.372 inches	
 	

Within 8 weeks of receipt of an order.
	 	 	 	 	Magnetic qualities:	 	Magnets must have opposing polarities	 	 
	 	 	 	 	Field strength:	 	[**]	 	 
	 	 	 	 	Serial Number:	 	Present, etched on back of yoke.	 	 

	**
	Certain information in these exhibits has been omitted and will be filed separately with the Securities and Exchange Commission pursuant to a confidential
treatment request under 17 C.F.R. Sections 200.80(b)(4), 200.83 and 230.406.

	

—Sample Chambers and Plugs ("IC Sample Chambers and Plugs"). MProbes supplies labels for individual chambers. Immunicon puts MProbes label on individual chamber and chambers are shrink-wrapped in trays of 10. Plugs are unlabeled and packaged 10
per sealable plastic bag. MProbes will label the outer container with its own label.	
 	

 	
 	
Test
 Pressure Test:	
 	
Specification
 [**]	
 	

Within 6 weeks of receipt of an order.
	 	 	 	 	Visual Appearance:	 	[**]	 	 
	 	 	 	 	Adhesive Bond:	 	[**]	 	 
	 	 	 	 	Fit:	 	[**]	 	 
	 	 	 	 	Serial Number:	 	[**]	 	 

Appendix
A, as amended, agreed to and accepted by: 

	Molecular Probes, Inc.	 	Immunicon Corporation
	

By:	

/s/ RICHARD P. HAUGLAND
	
 	

By:	

/s/ EDWARD L. ERICKSON

	Name:	Richard P. Haugland, Ph.D.
	 	Name:	Edward L. Erickson

	Title:	President
	 	Title:	Chairman, President and CEO

	Date:	6/26/01
	 	Date:	6/27/01

	**
	Certain information in these exhibits has been omitted and will be filed separately with the Securities and Exchange Commission pursuant to a confidential
treatment request under 17 C.F.R. Sections 200.80(b)(4), 200.83 and 230.406.

APPENDIX B: Pricing Schedule, Unit Size, Minimum Order [Amended on June 26, 2001]  

	Item
 
	 	Unit Size
	 	Minimum Order
	 	Pricing Schedule

	MAGNETIC SEPARATION MATERIALS:	 	 	 	 	 	 
	

Immunicon's proprietary ferrofluids [**]	
 	

[**]	
 	

at least [**] per purchase order, which purchase MProbes might receive from Immunicon in multiple shipments, at MProbes' option	
 	

MProbes' base purchase price for the [**] be [**], but MProbes shall [**]. The base price shall remain the same during the first twenty-four months after the Effective Date of the Agreement, but may be adjusted once in every twelve-month period
thereafter, at Immunicon's option, in accordance with the corresponding change in the producer price index for intermediate materials/other miscellaneous metal products.
	

Streptavidin Ferrofluid ("IC Streptavidin Ferrofluid")	
 	

[**]	
 	

At least [**] per order	
 	

MProbes' base purchase price for the IC Streptavidin Ferrofluid shall be $[**], but if volumes greater than or equal to [**] per year of the Agreement are purchased, MProbes will be [**], against future purchases of IC Streptavidin Ferrofluid. The
base price shall remain the same during the first twenty-four months after the Effective Date of the Agreement, but may be adjusted once in every twelve-month period thereafter, at Immunicon's option, in accordance with the corresponding change in
the producer price index for intermediate materials/other miscellaneous metal products.

	**
	Certain information in these exhibits has been omitted and will be filed separately with the Securities and Exchange Commission pursuant to a confidential
treatment request under 17 C.F.R. Sections 200.80(b)(4), 200.83 and 230.406.

	

IC HARDWARE:	
 	

 	
 	

 	
 	

 
	

Individual IC Magnets	
 	

[**]	
 	

at least [**] magnets per purchase order, which purchase MProbes might receive from Immunicon in multiple shipments, at MProbes' option	
 	

MProbes' purchase price for the current version of IC Magnets would be no greater than [**] for Immunicon's purchase and assembly of IC Magnets, which purchase price may be adjusted every quarter, as agreed between the parties, to maximize total
sales of both IC Magnets and products containing IC BSA Ferrofluids.
	

—Magnet/Yoke assembly for microscope ("IC Magnet/Yoke Assembly")	
 	

[**]	
 	

[**]	
 	

[**]
	

—Sample Chambers and Plugs ("IC Sample Chambers and Plugs")	
 	

Bulk packaged—[**] labels supplied by MProbes applied to each Unit.	
 	

[**]	
 	

[**]

Appendix
B, as amended, agreed to and accepted by: 

	Molecular Probes, Inc.	 	Immunicon Corporation
	

By:	

/s/ RICHARD P. HAUGLAND
	
 	

By:	

/s/ EDWARD L. ERICKSON

	Name:	Richard P. Haugland, Ph.D.
	 	Name:	Edward L. Erickson

	Title:	President
	 	Title:	Chairman, President and CEO

	Date:	6/26/01
	 	Date:	6/27/01

	**
	Certain information in these exhibits has been omitted and will be filed separately with the Securities and Exchange Commission pursuant to a confidential
treatment request under 17 C.F.R. Sections 200.80(b)(4), 200.83 and 230.406.

APPENDIX C: LICENSED MP PRODUCTS that MProbes can manufacture and sell, and Corresponding Royalty Payments, Fees and Other Payments [Amended on June 26,
2001]  

	Authorized Products
 
	 	Royalty Payments
	 	Fees and Other Payments

	LICENSED MP

PRODUCTS:

  

conjugates of [**], which for royalty purposes hereunder shall include, without limitation, IC Strepavidin Ferrofluid and streptavidin conjugates of [**], but and including CaptAvidin(1) biotin-binding protein conjugates of [**]; such conjugates of
[**] may be sold by MProbes as catalog items or as custom products for the Licensed Use	 	  

  

  

royalty of [**] on Net Sales of conjugates of [**] that are sold as standalone reagents;

for conjugates of [**] that are sold in kits, a royalty on such Net Sales that is the greater of

a) [**]% of such Net Sales of kits, or

b) [**]% of the price of the equivalent amount (mg) of conjugate if sold separately or, if no such conjugate is sold separately, of the equivalent amount of a comparable conjugate that is sold separately	 	  

  

  

[**] MProbes' purchases of [**] and IC Magnets during the term of the Agreement

	(1)
	CaptAvidin
is MProbes' trademark for biotin-binding protein technology covered by US Patent No. 5,973,124, filed June 13, 1996, issued October 26, 1999 (and any related patents)
licensed to MProbes by Baxter Healthcare Corporation. 

Appendix
C, as amended, agreed to and accepted by: 

	Molecular Probes, Inc.	 	Immunicon Corporation
	

By:	

/s/ RICHARD P. HAUGLAND
	
 	

By:	

/s/ EDWARD L. ERICKSON

	Name:	Richard P. Haugland, Ph.D.
	 	Name:	Edward L. Erickson

	Title:	President
	 	Title:	Chairman, President and CEO

	Date:	6/26/01
	 	Date:	6/27/01

	**
	Certain information in these exhibits has been omitted and will be filed separately with the Securities and Exchange Commission pursuant to a confidential
treatment request under 17 C.F.R. Sections 200.80(b)(4), 200.83 and 230.406.

QuickLinks

NON-EXCLUSIVE LICENSE and SUPPLY AGREEMENT between IMMUNICON CORPORATION and MOLECULAR PROBES, INC.QuickLinks
 -- Click here to rapidly navigate through this document
  

 
 

Exhibit 10.35    
    

	**
	Certain information in these exhibits has been omitted and will be filed separately with the Securities and Exchange Commission pursuant to a confidential
treatment request under 17 C.F.R. Sections 200.80(b)(4), 200.83 and 230.406.

 
 

EXCLUSIVE LICENSE AGREEMENT
  BETWEEN UNIVERSITY OF TEXAS SYSTEM
  AND
  IMMUNICON CORPORATION    
    

        THIS AGREEMENT is between the BOARD OF REGENTS (BOARD) of THE UNIVERSITY OF TEXAS SYSTEM (SYSTEM), an agency of the State of Texas, whose address is 201 West 7th
Street, Austin, Texas 78701, and IMMUNICON CORPORATION (IMMUNICON), a Pennsylvania corporation having a principal place of business located at 1310 Masons Mill II, Huntingdon Valley, Pennsylvania
19006. 

RECITALS  

        A.    IMMUNICON
independently developed certain rights in biospecific ferrofluid technology, magnetic separation technology, cell labeling technology, cell analysis platforms
and certain other reagents for the separation, isolation, enrichment and detection of rare cells; 

        B.    UT
SOUTHWESTERN independently developed certain rights in antibodies and other biomaterials useful in identifying and characterizing specific cell types of epithelial
origin; 

        C.    BOARD
and IMMUNICON entered into a COLLABORATIVE RESEARCH AGREEMENT dated July 8, 1997, directed to development of products relating to immunodetection of
circulating tumor cells and utilizing pre-existing rights of BOARD and IMMUNICON; 

        D.    BOARD
and IMMUNICON jointly own certain PATENT RIGHTS and TECHNOLOGY RIGHTS related to LICENSED SUBJECT MATTER, which were developed at The University of Texas
Southwestern Medical Center at Dallas (UT SOUTHWESTERN), located at 5323 Harry Hines Boulevard, Dallas, Texas 75235, a component institution of SYSTEM under the COLLABORATIVE RESEARCH AGREEMENT; 

        E.    BOARD
desires to have the LICENSED SUBJECT MATTER developed and used for the benefit of IMMUNICON, UT INVENTORS, BOARD, and the public as outlined in BOARD'S Intellectual
Property Policy; 

        F.     IMMUNICON
wishes to obtain a license from BOARD to practice LICENSED SUBJECT MATTER; and 

        G.    IMMUNICON
intends to sponsor research relating to LICENSED SUBJECT MATTER at UT SOUTHWESTERN to further develop LICENSED SUBJECT MATTER and identify related technologies
and has agreed to execute an appropriate sponsored research agreement (SPONSORED RESEARCH AGREEMENT) in the form attached hereto as Exhibit "A" concurrently with the execution of this AGREEMENT. 

        NOW,
THEREFORE, in consideration of the mutual covenants and premises herein contained, the parties agree as follows: 

I. EFFECTIVE DATE  

        This AGREEMENT is effective June 1, 1999 (EFFECTIVE DATE). 

1

 
II. DEFINITIONS  

        As used in this AGREEMENT, the following terms have the meanings indicated: 

        2.1   AFFILIATE
means any business entity more than 50% owned by IMMUNICON, any business entity which owns more than 50% of IMMUNICON, any business entity that is more than
50% owned by a business entity that owns more than 50% of IMMUNICON, or any business entity where IMMUNICON has effective management control, as defined by Generally Accepted Accounting Principles. 

        2.2   UT
INVENTORS (or singly, UT INVENTOR) means Jonathan Uhr, M.D., Professor, UT SOUTHWESTERN, and Emilian Racila, Ph.D., Assistant Instructor, UT SOUTHWESTERN. 

        2.3   LICENSED
FIELD means isolation, enrichment and characterization of circulating epithelial cells, and determination of their relationship to cancer disease states. 

        2.4   LICENSED
PRODUCT means any product SOLD by IMMUNICON comprising LICENSED SUBJECT MATTER pursuant to this AGREEMENT. 

        2.5   LICENSED
SUBJECT MATTER means inventions and discoveries covered by PATENT RIGHTS or TECHNOLOGY RIGHTS within LICENSED FIELD. 

        2.6   LICENSED
TERRITORY means the world. 

        2.7   NET
SALES means the gross revenues received by IMMUNICON from the SALE of LICENSED PRODUCTS less sales and/or use taxes actually paid, import and/or export duties
actually paid, outbound transportation prepaid or allowed, amounts allowed or credited due to returns (not to exceed the original billing or invoice amount), and amortization of instrumentation cost
included in the cost of reagents and other consumable products under reagent rental contracts, the latter in no circumstance to exceed [**]% of the total cost of any such
reagent rental contract. 

        2.8   PATENT
RIGHTS means BOARD'S rights in information or discoveries (i) covered by patents and/or patent applications set forth in Exhibit "B", and any and all
divisions, continuations, continuations-in-part, reissues, reexaminations or extensions thereof, and any and all foreign counterparts of any such patent applications, and any
and all patents which may issue from any such patent applications worldwide, and (ii) arising from activities sponsored by IMMUNICON under the SPONSORED RESEARCH AGREEMENT attached hereto as
Exhibit "A". 

        2.9   SELL,
SALE or SOLD means the transfer or disposition of a LICENSED PRODUCT for value to a party other than IMMUNICON or an AFFILIATE. 

        2.10 TECHNOLOGY
RIGHTS means BOARD'S rights in technical information, know-how, processes, procedures, compositions, devices, methods, formulas, protocols,
techniques, software, designs, drawings or data created by UT INVENTORS at UT SOUTHWESTERN before the EFFECTIVE DATE relating to LICENSED PRODUCTS or IDENTIFIED PRODUCTS which are not covered by
PATENT RIGHTS but which are necessary for practicing the invention covered by PATENT RIGHTS (i) prior to the valid term of the SPONSORED RESEARCH AGREEMENT and not obligated to any third party,
or (ii) during the valid term of the SPONSORED RESEARCH AGREEMENT. 

III. WARRANTY: SUPERIOR-RIGHTS  

        3.1   Except
for the rights, if any, of the Government of the United States, as set forth below, BOARD represents and warrants its belief that (i) it is the owner of
its right, title, and interest in and to LICENSED SUBJECT MATTER, (ii) it has the right to grant licenses thereunder, and (iii) it has not knowingly granted licenses thereunder to any
other entity that would restrict rights granted to IMMUNICON except as stated herein. 

	**
	Certain information in these exhibits has been omitted and will be filed separately with the Securities and Exchange Commission pursuant to a confidential
treatment request under 17 C.F.R. Sections 200.80(b)(4), 200.83 and 230.406.

2

 

        3.2   IMMUNICON
understands that the LICENSED SUBJECT MATTER may have been developed under a funding agreement with the Government of the United States of America and, if so,
that the Government may have certain rights relative thereto. This AGREEMENT is explicitly made subject to the Government's rights under any agreement and any applicable law or regulation. If there is
a conflict between an agreement, applicable law or regulation and this AGREEMENT, the terms of the Government agreement, applicable law or regulation shall prevail. 

        3.3   IMMUNICON
understands and acknowledges that BOARD, by this AGREEMENT, makes no representation as to the operability or fitness for any use, safety, efficacy, ability to
obtain regulatory approval, patentability, and/or breadth of the LICENSED SUBJECT MATTER. BOARD, by this AGREEMENT, also makes no representation as to whether there are any patents now held, or which
will be held, by others or by BOARD in the LICENSED FIELD, nor does BOARD make any representation that the inventions contained in PATENT RIGHTS do not infringe any other patents now held or that will
be held by others or by BOARD. 

        3.4   IMMUNICON,
by execution hereof, acknowledges, covenants and agrees that it has not been induced in anyway by BOARD, SYSTEM, UT SOUTHWESTERN or its employees to enter
into this AGREEMENT, and further warrants and represents that (i) it has conducted sufficient due diligence with respect to all items and issues pertaining to this Article III and all
other matters pertaining to this AGREEMENT; and (ii) IMMUNICON has adequate knowledge and expertise, or has utilized knowledgeable and expert consultants, to adequately conduct the due
diligence, and agrees to accept all risks inherent herein. 

IV. LICENSE  

        4.1   BOARD
hereby grants to IMMUNICON a royalty-bearing, exclusive license under LICENSED SUBJECT MATTER to use, have used, manufacture, have manufactured, SELL and/or have
SOLD LICENSED PRODUCTS within the LICENSED TERRITORY and LICENSED FIELD. This grant is subject to the payment by IMMUNICON to BOARD of all consideration as provided herein, and is further subject to
rights retained by BOARD to: 

	(a)
	Publish
the general scientific findings from research related to LICENSED SUBJECT MATTER subject to the terms of Article XIII, Confidential Information; and Section 8 of
the SPONSORED RESEARCH AGREEMENT of EXHIBIT "A."

	(b)
	Use
LICENSED SUBJECT MATTER for research, teaching and other educationally-related purposes. 

        4.2   IMMUNICON
may extend the license granted herein to any AFFILIATE if the AFFILIATE consents to be bound by this AGREEMENT to the same extent as IMMUNICON. 

        4.3   IMMUNICON
may grant sublicenses consistent with this AGREEMENT if the sublicensee consents to be bound by this AGREEMENT to the same extent as IMMUNICON, including the
payment of royalties whether or not paid to IMMUNICON by a sublicensee. IMMUNICON must deliver to BOARD a true and correct copy of each sublicense granted by IMMUNICON, and any modification or
termination thereof, within 30 days after execution, modification, or termination. Any sublicenses granted by IMMUNICON for use of LICENSED SUBJECT MATTER shall provide for the termination of
the sublicense, or the conversion of the sublicense to a license directly between such sublicensees and UT BOARD, upon termination of this AGREEMENT under Article VII. Such conversion is
contingent upon acceptance by the sublicensee of the remaining provisions of this AGREEMENT, and is subject to approval by UT BOARD, such approval not to be unreasonably withheld. 

3

 

V. PAYMENTS AND REPORTS  

        5.1   In
consideration of rights granted by BOARD to IMMUNICON under this AGREEMENT, IMMUNICON will pay BOARD the following: 

	(a)
	A
non-refundable annual license maintenance royalty in the amount of $25,000 is due within 30 days of the later of the third anniversary of the EFFECTIVE DATE of
this AGREEMENT, or the termination date of the SPONSORED RESEARCH AGREEMENT, if, by mutual consent, the term of the SPONSORED RESEARCH AGREEMENT is extended beyond the three year term set forth in
Section 2.2 of Exhibit "A"; and

	(b)
	A
running royalty equal to [**]% of NET SALES for LICENSED PRODUCTS; and

	(c)
	Reimbursement
of previously incurred patent expenses, not to exceed $15,000, due within thirty days of the EFFECTIVE DATE. 

        5.2   In
the event that IMMUNICON pays a royalty to a third party for use of patented rights or technology rights necessary to materially enable the function of any LICENSED
PRODUCT, IMMUNICON shall be entitled to a credit against royalties otherwise due BOARD hereunder for the actual amount of all such royalties paid to such third party or parties; provided, however,
that that the portion of such credit taken in any royalty period hereunder shall not exceed a total amount in such period that would result in BOARD receiving a payment for such period equaling a
royalty of less than [**]% of NET SALES for such period. 

        5.3   During
the Term of this AGREEMENT and for 1 year thereafter, IMMUNICON agrees to keep complete and accurate records of its and its sublicensees' SALES and NET
SALES of LICENSED PRODUCTS under the license granted in this AGREEMENT in sufficient detail to enable the royalties payable hereunder to be determined. IMMUNICON agrees to permit BOARD or its
representatives, at BOARD'S expense, to periodically examine its books, ledgers, and records during regular business hours for the purpose of and to the extent necessary to verify any report required
under this AGREEMENT, provided that no more than one examination may be conducted during any calendar year, and any such examination will occur only after at least ten business days prior written
notice. If the amounts due to BOARD are determined to have been underpaid by more than 5%, IMMUNICON will pay the cost of the examination and accrued interest at the prime rate in effect at The Chase
Manhattan Corporation plus one percent, unless such interest rate is greater than the highest allowable rate by law, in which case the interest rate shall be the highest allowable rate by law. If the
amounts due to BOARD are determined to have overpaid, such overpayment will be credited against future royalty payments due to BOARD. 

        5.4   Within
45 days after March 31, June 30, September 30, and December 31, beginning immediately after the EFFECTIVE DATE, IMMUNICON must
deliver to BOARD a true and accurate written report, even if no payments are due BOARD, giving the particulars of the business conducted by IMMUNICON and its sublicensee(s), if any exist, during the
preceding 3 calendar months under this AGREEMENT as are pertinent to calculating payments hereunder. This report will include at least: 

the
quantities of LICENSED SUBJECT MATTER that it has produced; 

the
total SALES; 

the
calculation of royalties thereon; and 

the
total royalties computed and due BOARD. 

	**
	Certain information in these exhibits has been omitted and will be filed separately with the Securities and Exchange Commission pursuant to a confidential
treatment request under 17 C.F.R. Sections 200.80(b)(4), 200.83 and 230.406.

4

 

        Simultaneously
with the delivery of each report, IMMUNICON must pay to BOARD the amount, if any, due for the period of each report. 

        5.5   Within
45 days after each anniversary of the EFFECTIVE DATE, irrespective of having a first SALE or offer for SALE, IMMUNICON must deliver to BOARD a written
progress report as to IMMUNICON'S (and any sublicensee's) efforts and accomplishments during the preceding year in diligently commercializing LICENSED SUBJECT MATTER in the LICENSED TERRITORY and
IMMUNICON'S (and sublicensee's) commercialization plans for the upcoming year. 

        5.6   All
amounts payable here by IMMUNICON must be paid in United States funds without deductions for taxes, assessments, fees, or charges of any kind. Checks must be payable
to UT SOUTHWESTERN and mailed to: 

Ray
Wheatley

Director for Technology Development

Office for Technology Development

UT Southwestern Medical Center

5323 Harry Hines Boulevard

Dallas, Texas 75235-9094 

VI. COMMON STOCK: EQUITY OWNERSHIP  

        In consideration of the rights granted to IMMUNICON by BOARD in this AGREEMENT, IMMUNICON will, upon execution of this AGREEMENT, issue
BOARD[**]. 

VII. TERM AND TERMINATION  

        7.1   The
term of this AGREEMENT is from the EFFECTIVE DATE to the full end of the term or terms for which PATENT RIGHTS have not expired or, if only TECHNOLOGY RIGHTS are
licensed and no PATENT RIGHTS are applicable, for a term of 15 years. With mutual consent, however, the term of this AGREEMENT may be extended under the terms otherwise set forth herein. 

        7.2   Any
time after 2 years from the EFFECTIVE DATE, BOARD and UT SOUTHWESTERN have the right to terminate the exclusivity of this license in any national political
jurisdiction in the LICENSED TERRITORY if IMMUNICON, within 90 days after receiving written notice from UT SOUTHWESTERN of intended termination of exclusivity, fails to provide written evidence
satisfactory to UT SOUTHWESTERN that IMMUNICON or its sublicensees has commercialized or is actively attempting to commercialize a licensed invention in such jurisdiction(s). 

        7.3   Any
time after 3 years from the Effective Date, BOARD and UT SOUTHWESTERN have the right to terminate this license in any national political jurisdiction in the
LICENSED TERRITORY if IMMUNICON, within 90 days after receiving written notice from UT SOUTHWESTERN of intended termination, fails to provide written evidence satisfactory to UT SOUTHWESTERN
that IMMUNICON or its sublicensees has commercialized or is actively attempting to commercialize a licensed invention in such jurisdiction(s). 

        7.4   The
following definitions apply to Article 7: (i) "Commercialize" means having SALES of LICENSED PRODUCTS in such jurisdiction. (ii) "Active
attempts to commercialize" means having SALES of LICENSED PRODUCTS or an effective, ongoing and active research, development, manufacturing, marketing, sales, or business development and/or sublicense
program as appropriate, directed toward obtaining regulatory approval, production or SALES of LICENSED PRODUCTS in any jurisdiction, and plans acceptable to UT SOUTHWESTERN to commercialize licensed
inventions in the jurisdiction(s) that UT SOUTHWESTERN intends to terminate. 

	**
	Certain information in these exhibits has been omitted and will be filed separately with the Securities and Exchange Commission pursuant to a confidential
treatment request under 17 C.F.R. Sections 200.80(b)(4), 200.83 and 230.406.

5

 

        7.5   This
AGREEMENT will earlier terminate: 

	(a)
	automatically
if IMMUNICON becomes bankrupt or insolvent and/or if the business of IMMUNICON is placed in the hands of a receiver, assignee, or trustee, whether by voluntary act of
IMMUNICON or otherwise; or

	(b)
	upon
90 days written notice from BOARD if IMMUNICON breaches or defaults on its obligation to make payments (if any are due) or reports, in accordance with the terms of
Article V hereunder, unless, before the end of the 90 day period, IMMUNICON has cured the default or breach and so notifies BOARD, stating the manner of the cure; or

	(c)
	upon
90 days written notice if IMMUNICON breaches or defaults on any other obligation under this AGREEMENT, unless, before the end of the 90 day period, IMMUNICON has
cured the default or breach and so notifies BOARD, stating the manner of the cure; or

	(d)
	at
any time by mutual written agreement between IMMUNICON, UT SOUTHWESTERN and BOARD, upon 60 days written notice to all parties and subject to any terms herein which survive
termination; or

	(e)
	under
the provisions of Paragraphs 7.2 and 7.3 if invoked; or

	(f)
	if
the SPONSORED RESEARCH AGREEMENT is terminated prior to its full three year term. 

        7.6   If
this AGREEMENT is terminated for any cause: 

	(a)
	nothing
herein will be construed to release either party of any obligation matured prior to the effective date of the termination;

	(b)
	after
the effective date of the termination, IMMUNICON may SELL all LICENSED PRODUCTS and parts therefor it has on hand at the date of termination, if it pays earned royalties thereon
according to the terms of Article V;

	(c)
	IMMUNICON
will be bound by the provisions of Articles XI, XII, and XIII of this AGREEMENT; and

	(d)
	any
rights or obligations of the parties hereunder that have accrued prior to termination shall survive termination. 

VIII. INFRINGEMENT BY THIRD PARTIES  

        8.1   IMMUNICON
and BOARD shall provide the other party with prompt written notification of alleged infringement by any third party of the PATENT RIGHTS. 

        8.2   IMMUNICON,
at its expense, must enforce any patent exclusively licensed hereunder against infringement by third parties and it is entitled to retain recovery from such
enforcement. IMMUNICON must pay BOARD a royalty on any monetary recovery if the monetary recovery is for damages or a reasonable royalty in lieu thereof. If IMMUNICON does not file suit against a
substantial infringer of a patent within 6 months of knowledge thereof, then BOARD may enforce any patent licensed hereunder on behalf of itself and IMMUNICON, BOARD retaining all recoveries
from such enforcement and/or reducing the license granted hereunder to non-exclusive. 

        8.3   In
any infringement suit or dispute, the parties agree to cooperate fully with each other. At the request and expense of the party bringing suit, the other party will
permit access to all relevant personnel, records, papers, information, samples, specimens, etc., during regular business hours. 

6

 

IX. ASSIGNMENT  

        This AGREEMENT may not be assigned by IMMUNICON without the prior written consent of BOARD, which will not be unreasonably withheld. However, this AGREEMENT shall
survive sale, merger or acquisition of IMMUNICON and shall be subject to written approval by BOARD. 

X. PATENT MARKING  

        IMMUNICON must permanently and legibly mark all products and documentation manufactured or sold by it under this AGREEMENT with a patent notice as may be
permitted or required under Title 35, United States Code. 

XI. INDEMNIFICATION  

        IMMUNICON agrees to indemnify and hold harmless BOARD, SYSTEM, UT SOUTHWESTERN, its Regents, officers, agents and employees from and against any claims, demands,
liability, loss, damage or causes of action whatsoever, including without limitation those arising on account of any injury or death of persons or damage of property caused by, or arising out of, or
resulting from, the exercise or practice of the license granted hereunder by IMMUNICON, its AFFILIATES or their officers employees agents or representatives; provided, however, that the following is
excluded from IMMUNICON'S obligation to indemnify and hold harmless: 

	(a)
	the
negligent failure of UT SOUTHWESTERN to substantially comply with any applicable FDA or other governmental requirements; or

	(b)
	the
negligence or willful malfeasance of any Regent, officer, agent or employee of BOARD, SYSTEM, or UT SOUTHWESTERN. 

 XII. USE OF NAME  

        IMMUNICON may not use the name of UT INVENTORS, UT SOUTHWESTERN, SYSTEM or BOARD without express written consent of BOARD, except as required by law. BOARD may
not use the name of IMMUNICON or its inventors without express written consent of IMMUNICON, except as required by law. 

XIII. CONFIDENTIAL INFORMATION AND PUBLICATION  

        13.1 BOARD
and IMMUNICON each agree that all information contained in documents marked "confidential" and forwarded to one by the other (i) are to be received in
strict confidence, (ii) used only for the purposes of this AGREEMENT, and (iii) not disclosed by the recipient party, its agents or employees without the prior written consent of the
other party, except to the extent that the recipient party can establish competent written proof that such information: 

	(a)
	was
in the public domain at the time of disclosure;

	(b)
	later
became part of the public domain through no act or omission of the recipient party, it's employees, agents, successors or assigns;

	(c)
	was
lawfully disclosed to the recipient party by a third party having the right to disclose it;

	(d)
	was
already known by the recipient party at the time of disclosure;

	(e)
	was
independently developed by the recipient; or

	(f)
	is
required by law or regulation to be disclosed. 

        13.2 Each
party's obligation of confidence hereunder shall be fulfilled by using at least the same degree of care with the other party's confidential information as it uses
to protect its own confidential 

7

 

information.
This obligation shall exist while this AGREEMENT is in force and for a period of 3 years thereafter. 

        13.2 UT
SOUTHWESTERN will submit its manuscript for any proposed publication of research carried out under the SPONSORED RESEARCH AGREEMENT in accordance with
Section 7 of the SPONSORED RESEARCH AGREEMENT. 

XIV. PATENTS AND INVENTIONS  

        As stated in 5.1(c) above, IMMUNICON shall reimburse UT SOUTHWESTERN and for all previously incurred patent expenses not to exceed $15,000. In addition,
IMMUNICON, at IMMUNICON'S election, shall either (i) reimburse UT SOUTHWESTERN for all reasonable out-of-pocket expenses for filing, prosecuting, enforcing and
maintaining PATENT RIGHTS licensed exclusively under this AGREEMENT within 30 days after receipt of written notice from BOARD, or (ii) pay directly to law firm all future expenses for
filing, prosecuting, enforcing and maintaining PATENT RIGHTS licensed exclusively under this AGREEMENT. Upon IMMUNICON'S request, UT SOUTHWESTERN will prepare and file appropriate patent applications
covering LICENSED SUBJECT MATTER, and IMMUNICON shall bear the actual cost incurred in connection with searching, preparing, filing, prosecuting and maintaining same. If IMMUNICON notifies UT
SOUTHWESTERN that it does not intend to pay costs associated with any patent application which UT SOUTHWESTERN believes should be prepared and filed, then UT SOUTHWESTERN may file such application at
its own expense and IMMUNICON shall have no rights under this AGREEMENT to said patent application or any patent which may issue therefrom. UT SOUTHWESTERN shall provide IMMUNICON with a copy of any
and all patent applications filed for which IMMUNICON is bearing the actual cost of filing, as well as copies of any documents received or filed during prosecution thereof. Similarly, if IMMUNICON
elects to pay directly patent expenses in accordance with IMMUNICON'S right as set forth above, IMMUNICON shall instruct outside counsel (approved by BOARD, such approval not to be unreasonably
withheld) to provide UT SOUTHWESTERN with copies of all patent-related communications, including, but not limited to, invoices and provide evidence of direct payment of such expenses incurred to UT
SOUTHWESTERN within 30 days of receipt of such invoices. The parties each shall have the right to review and comment
upon the wording of the specifications, claims and responses to Office Actions prior to their submission to the U.S. Patent and Trademark Office for any and all applications for which IMMUNICON is
either reimbursing or paying directly patent expenses. 

XV. ALTERNATE DISPUTE RESOLUTION  

        Any dispute or controversy arising out of or relating to this AGREEMENT, its construction or its actual or alleged breach will be decided by mediation. If the
mediation does not result in a resolution of such dispute or controversy, it will be finally decided by an appropriate method of alternate dispute resolution, including without limitation,
arbitration, in accordance with the Licensing Agreement Arbitration Rules of the American Arbitration Association. The arbitration panel will include members knowledgeable in the evaluation of the use
of antibodies in the detection of malignant cells. Judgment upon the award rendered may be entered in the highest court or forum having jurisdiction, state or federal. The provisions of this
Article XV will not apply to decisions on the validity of patent claims or to any dispute or controversy as to which any treaty or law prohibits such arbitration. The decision of the
arbitration must be sanctioned by a court of law having jurisdiction to be binding upon and enforceable by the parties. 

XVI. GENERAL  

        16.1 This
AGREEMENT and the SPONSORED RESEARCH AGREEMENT constitute the entire and only agreements between the parties for LICENSED SUBJECT MATTER and all other 

8

 

prior
negotiations, representations, agreements, and understandings, including the COLLABORATIVE RESEARCH AGREEMENT dated July 8, 1997, are superseded hereby. No agreements altering or
supplementing the terms hereof may be made except by a written document signed by both parties. 

        16.2 Any
notice required by this AGREEMENT must be given by facsimile transmission confirmed by personal delivery (including delivery by reputable messenger service, such as
Federal Express), or by prepaid, first class, certified mail, return receipt requested, addressed in the case of BOARD to: 

BOARD
of Regents

The University of Texas System

201 West 7th Street

Austin, Texas 78701

ATTENTION: Office of General Counsel

PHONE: (512) 499-4462

FAX: (512) 499-4523 

with
copies to: 

UT
SOUTHWESTERN

Peter H. Fitzgerald, Ph.D.

Executive Vice President for Business Affairs

5323 Harry Hines Boulevard

Dallas, Texas 75235-9013

PHONE: (214) 648-3572

FAX: (214) 648-3944 

and
to: 

Ray
Wheatley

Director for Technology Development

5323 Harry Hines Boulevard

Dallas, Texas 75235-9094

PHONE: (214) 648-1880

FAX: (214) 648-648-1889 

or
in the case of IMMUNICON to: 

Edward
L. Erickson

Chairman and Chief Executive Officer

Immunicon Corporation

1310 Mason Mill II

Huntingdon Valley, PA 19006

PHONE: (215) 938-0100

FAX: (215) 938-0437 

or
other addresses as may be given from time to time under the terms of this notice provision. 

        16.3 IMMUNICON
and BOARD must comply with all applicable federal, state and local laws and regulations in connection with its activities pursuant to this AGREEMENT. 

        16.4 This
AGREEMENT will be construed and enforced in accordance with the laws of the United States of America. 

        16.5 Failure
of BOARD to enforce a right under this AGREEMENT will not act as a waiver of that right or the ability to later assert that right relative to the particular
situation involved. 

9

 

        16.6 Headings
are included herein for convenience only and shall not be used to construe this AGREEMENT. 

        16.7 If
any part of this AGREEMENT is for any reason found to be unenforceable, all other parts nevertheless remain enforceable. 

        IN
WITNESS WHEREOF, parties hereto have caused their duly authorized representatives to execute this AGREEMENT. 

	BOARD OF REGENTS OF THE UNIVERSITY OF TEXAS SYSTEM	 	IMMUNICON CORPORATION
	

By	

/s/ Peter H. Fitzgerald
 Peter H. Fitzgerald, Ph.D. Executive Vice President for Business Affairs UT Southwestern	
 	

By	

/s/ Edward L. Erickson
 Edward L. Erickson

Chairman and CEO
	

Date:	

June 18, 1999
	
 	

Date:	

6/16/99

	

APPROVED AS TO FORM:	
 	

 	

 
	UT SYSTEM	 	 	 
	

By	

/s/ BethLynn Maxwell
 BethLynn Maxwell

Office of General Counsel	
 	

 	

 
	

Date:	

21 June 99
	
 	

 	

 
	

APPROVED AS TO CONTENT:	
 	

 	

 
	By	/s/ Dennis K. Stone
 Dennis K. Stone, M.D.

Vice President for Technology Development

UT Southwestern	 	 	 
	

Date:	

June 15, 1999
	
 	

 	

 

10

  

 
 

Exhibit A    
    

 
 

Sponsored Research Agreement    
    

        This Sponsored Research Agreement (the "Agreement") is made between The University of Texas Southwestern Medical Center at Dallas ("University"), a component
institution of The University of Texas System ("System") and Immunicon Corporation, a Pennsylvania corporation with its principal place of business at 1310 Mason Mill II, Huntingdon Valley, PA 19006
("Sponsor"). 

RECITALS  

        A.    Sponsor
desires that University perform certain research hereinafter described and is willing to advance funds to sponsor such research; and 

        B.    Sponsor
desires to obtain certain rights to intellectual property developed during the course of such research with a view to commercialization of such intellectual
property for the Sponsor's benefit; and 

        C.    University
is willing to perform such research and to grant certain rights to such intellectual property. 

1. EFFECTIVE DATE  

        This Agreement shall be effective as of June 1, 1999 (the "Effective Date"). 

2. RESEARCH PROGRAM  

        2.1   University
will use reasonable efforts to conduct the research program described in Attachment A ("Research Program"), and will furnish the facilities necessary to carry
out the Research Program. The Research Program will be under the direction of Jonathan Uhr, M.D. or his successor as mutually agreed to by the parties (the "Principal Investigator") and will be
conducted by the Principal Investigator at the University. 

        2.2   The
Research Program shall be performed during the period from the Effective Date through and including May 31, 2002 ("Term"). Sponsor shall have the option to
negotiate an extension of the Term under mutually agreeable support terms. Such option shall be exercised within ninety (90) days prior to the end of the Term. 

        2.3   Sponsor
understands that University's mission is advancement of knowledge, education, and patient care and, consequently, the Research Program will be designed to be
compatible with that mission. The manner of performance of the Research Program shall be determined solely by the Principal Investigator. University does not guarantee specific results. 

        2.4   Sponsor
understands that University and/or System may be involved in similar research through other researchers on behalf of itself and others. University shall be free
to continue such research provided that it is conducted separately and by different investigators from the Research Program, and Sponsor shall not gain any rights via this Agreement to such other
research. 

        2.5   University
does not guarantee that any intellectual property rights will result from the Research Program, that the scope of any intellectual property rights obtained
will cover Sponsor's commercial interest, or that any such intellectual property rights will be free of dominance by others independent of the Research Program. 

1

 

3. COMPENSATION  

        3.1   As
consideration for the performance by University of its obligations under this Agreement, Sponsor will pay the University an amount equal to its projected expenditures
and reasonable overhead in conducting the Research Program, which is estimated to be $190,000 per year for three years, for a total of $570,000. An initial payment of $47,250 shall be made at the time
of execution of this Agreement, and subsequent equal quarterly advance payments of $47,250 each shall be made thereafter through the Term of this Agreement. 

        3.2   University
shall maintain all Research Program funds in a separate account and shall expend such funds for wages, supplies, equipment, travel, and other operating
expenses in connection with the Research Program. It is understood that any funds in this separate account at the conclusion of the Research Program shall be retained by University. 

        3.3   University
shall retain title to all equipment purchased and/or fabricated by it with funds provided by Sponsor under this Agreement. 

4. PROVISION OF RESEARCH MATERIALS  

        4.1   Sponsor
shall provide University with certain materials and equipment free of charge as needed by Principal Investigator to fulfill the aims of the Research Program.
Specifically, Sponsor will supply sufficient quantities of reagents (e.g.,[**]) to process the blood samples of subjects and controls as specified in Attachment A, which
attachment is subject to amendment from time-to-time by mutual agreement. Sponsor shall also supply the necessary equipment and software to perform the basic epithelial cell
assays required by Attachment A. However, title to such equipment and software will remain with Sponsor, and Sponsor shall be solely responsible for such equipment and software. Additionally, Sponsor
shall make a diligent, but commercially reasonable effort, to obtain from third party sources those materials that are important to explore markers (e.g., mammaglobin) that can be used to determine
the organ-of-origin of epithelial cells from subjects' peripheral blood. 

        4.2   University
shall use the materials provided by Sponsor only for the purposes contemplated under the terms of this Agreement. 

        4.3   Materials
shall be used only at University under the direction of the Principal Investigator or others working under his direct supervision. 

        4.4   Materials
shall not be transferred to any other party at University or outside University without the prior written consent of the Sponsor. 

5. CONSULTATION AND REPORTS  

        5.1   Sponsor's
designated representative for consultation and communications with the Principal Investigator shall be Leon W.M.M. Terstappen, M.D., Ph.D., Senior Vice
President of Research and Development, or such other person as Sponsor may from time to time designate in writing to University and the Principal Investigator ("Designated Representative"). 

        5.2   During
the Term of the Agreement, Sponsor's representatives may consult informally with University's representatives regarding the project, both personally and by
telephone. Access to work carried on in University laboratories in the course of these investigations shall be entirely under the control of University personnel but shall be made available on a
reasonable basis. 

	**
	Certain information in these exhibits has been omitted and will be filed separately with the Securities and Exchange Commission pursuant to a confidential
treatment request under 17 C.F.R. Sections 200.80(b)(4), 200.83 and 230.406.

2

 

        5.3   The
Principal Investigator will make oral reports at reasonable intervals as requested by Sponsor's Designated Representative. At the conclusion of each year, the
Principal Investigator shall submit to Sponsor a written report summarizing the work. The Principal Investigator shall also submit a comprehensive final report within one hundred twenty
(120) days of termination of the Agreement which shall contain, but which need not be limited to, the following information: 

	a.
	A
summary of expenses of Research Program.

	b.
	A
report of the activities undertaken and accomplishments achieved by the University under the Research Program. 

6. PUBLICITY  

        Neither party (without the other party's consent, such consent not to be unreasonably withheld) shall make reference to the other in a press release or any other
written statement in connection with work performed under this Agreement, if it is intended for use in the public media, except as required by The Texas Public Information Act or other law, regulation
or published rule of local, state or national governments and their duly empowered regulatory agencies. University, however, shall have the right to acknowledge Sponsor's support of the investigations
under this Agreement in scientific or academic publications and other scientific or academic communications, without Sponsor's prior approval. In any such statements, the parties shall describe the
scope and nature of their participation accurately and appropriately. Press releases describing a new finding shall have the conventional embargo until publication of the scientific paper containing
such new finding. 

7. PUBLICATION AND PATENT FILING  

        7.1   University
and Principal Investigator have the right to publish or otherwise publicly disclose information gained in the course of this Agreement. In order to avoid loss
of patent rights as a result of premature public disclosure of patentable information, University will submit any prepublication materials to Sponsor
for review and comment at least sixty (60) days prior to planned submission for publication. Sponsor shall notify University within thirty (30) days of receipt of such materials whether
it desires to seek protection of any intellectual property which may be disclosed by publication of the materials. University shall have the final authority to determine the scope and content of any
publications. 

        7.2   Both
parties agree to promptly notify the other of the development of any inventions during the course of the Research Program, and to cooperate in the determination of
inventorship of such inventions. It is agreed that Sponsor shall be responsible for the filing and prosecution of patent applications on any inventions which are owned jointly by Sponsor and
University, provided that University must consent to the choice of patent counsel, such consent not to be unreasonably withheld. University shall be responsible for the filing and prosecution of any
patent applications for any inventions which are owned solely by University. The filing party shall provide copies of all applications and documentation related to the prosecution of any patents for
inventions arising from the performance of the Research Program to the other party in order to allow the other party the opportunity to review and comment thereon. 

        7.3   It
is understood that the University investigators may discuss the research being performed under this Agreement with other investigators but shall not reveal
information which is Sponsor's Confidential Information under Article 8. In the event any joint inventions result form such discussions, University shall grant to Sponsor the rights outlined in
Article 9 of this Agreement, to the extent these are not in conflict with obligations to another party as a result of the involvement of the other investigator(s). In this latter case,
University shall, in good faith, exercise reasonable efforts to enable Sponsor to obtain rights to the joint invention. 

3

 

8. CONFIDENTIAL INFORMATION  

        8.1   The
parties may wish, from time to time, in connection with work contemplated under this Agreement, to disclose confidential information to each other ("Confidential
Information"). Each party will use reasonable efforts to prevent the disclosure of any of the other party's Confidential Information to third parties for a period of three (3) years from
receipt thereof, provided that the recipient party's obligation shall not apply to information that as to which the recipient party can establish, on the basis of its written records: 

	(1)
	is
not disclosed in writing or reduced to writing and so marked with an appropriate confidentiality legend within thirty (30) days of disclosure;

	(2)
	is
already in the recipient party's possession at the time of disclosure thereof;

	(3)
	is
or later becomes part of the public domain through no fault of the recipient party;

	(4)
	is
received from a third party having no obligations of confidentiality to the disclosing party;

	(5)
	is
independently developed by the recipient party; or

	(6)
	is
required by law or regulation to be disclosed. 

        8.2   In
the event that information is required to be disclosed pursuant to subsection 8.1(6) above, the party required to make disclosure shall notify the other to allow that
party to assert whatever exclusions or exemptions may be available to it under such law or regulation. 

        8.3   It
is understood that any specific item of Confidential Information that is disclosed pursuant to this Agreement shall not be considered to be in the public domain or in
the recipient party's possession merely because it is embraced by more general information which is in the public domain or in the recipient party's possession. 

9. PATENTS, COPYRIGHTS, AND TECHNOLOGY RIGHTS  

        Title to all inventions and discoveries made by University resulting from the research performed hereunder shall reside in University. Title to all inventions and
discoveries made jointly by Sponsor and University resulting from the research performed hereunder shall reside jointly in Sponsor and University. University hereby grants to Sponsor an exclusive,
worldwide, royalty-bearing license to make, have made, use, have used, sell or have sold under its interests in any sole or joint invention or discovery made or conceived during the term of this
Agreement and directly resulting from the performance of research hereunder, under the terms and conditions of the Exclusive License Agreement between Sponsor and The University of Texas System Board
of Regents, which has an effective date of June 1, 1999 ("Exclusive License Agreement"). 

10. LIABILITY  

        10.1 Sponsor
agrees to indemnify and hold harmless System, University, their Regents, officers, agents and employees from any liability, loss or damage they may suffer as a
result of claims, demands, costs or judgments against them arising out of the activities to be carried out pursuant to the obligations of this Agreement, including but not limited to the use by
Sponsor of the results obtained from the activities performed by University under this Agreement; provided, however, that the following is excluded from Sponsor's obligation to indemnify and hold
harmless: 

	a.
	the
negligent failure of University to substantially comply with any applicable FDA or other governmental requirements; or

	b.
	the
negligence or willful malfeasance of any Regent, officer, agent or employee of University or System. 

4

 

        10.2 Both
parties agree that upon receipt of a notice of claim or action arising out of the activities to be carried out pursuant to the project described in Attachment A,
the party receiving such notice will notify the other party promptly. Except for actions arising under the circumstances outlined in Section 10.1 (a) and (b) above, Sponsor
agrees, at its own expense, to provide attorneys to defend against any actions brought or filed against University, System, their Regents, officers, agents and/or employees with respect to the subject
of the indemnity contained herein, whether such claims or actions are rightfully brought or filed; and subject to the statutory duty of The Texas Attorney General, University agrees to cooperate with
Sponsor in the defense of such claim or action. 

11. INDEPENDENT CONTRACTOR  

        For the purposes of this Agreement and all services to be provided hereunder, the parties shall be, and shall be deemed to be, independent contractors and not
agents or employees of the other party. Neither party shall have authority to make any statements, representations or commitments of any kind, or to take any action which shall be binding on the other
party, except as may be expressly provided for herein or authorized in writing. 

12. TERM AND TERMINATION  

        12.1 This
Agreement shall commence on the Effective Date and extend until the end of the Research Program as described hereinabove, unless sooner terminated in accordance
with the provisions of this Section. 

        12.2 This
Agreement may be terminated by the written agreement of both parties. 

        12.3 In
the event that either party shall be in default of its material obligations under this Agreement and shall fail to remedy such default within sixty (60) days
after receipt of written notice thereof, this Agreement shall terminate upon expiration of the sixty (60) day period. 

        12.4 Termination
or cancellation of this Agreement shall not affect the rights and obligations of the parties accrued prior to termination. As its sole liability upon
termination, Sponsor shall pay University for all reasonable non cancelable expenses incurred or committed to be expended as of the effective termination date, including salaries for appointees for
the remainder of their appointment; provided, however, that such appointments shall not extend beyond the original expiration date of this Agreement. 

        12.5 Any
provisions of this Agreement which by their nature extend beyond termination shall survive such termination. 

13. ATTACHMENTS  

        Attachment A is incorporated and made a part of this Agreement for all purposes. 

14. ALTERNATIVE DISPUTE RESOLUTION  

        Any dispute or controversy arising out of or relating to this Agreement, its construction or its actual or alleged breach will be decided by mediation. If the
mediation does not result in a resolution of such dispute or controversy, it will be finally decided by an appropriate method of alternate dispute resolution, including without limitation,
arbitration, conducted in accordance with the Rules of the American Arbitration Association. The arbitration panel will include members knowledgeable in the evaluation of the use of antibodies in the
detection of malignant cells. Judgment upon the award rendered may be entered in the highest court or forum having jurisdiction, state or federal. The provision of this Article 14 will not
apply to decisions on the validity of patent claims or to any dispute or controversy as to which any treaty or law prohibits such arbitration. The decision of the arbitration 

5

 

must
be sanctioned by a court of law having jurisdiction to be binding upon and enforceable by the parties. 

15. GENERAL  

        15.1 This
Agreement may not be assigned by either party without the prior written consent of the other party, which will not be unreasonably withheld. However, this
Agreement shall survive the sale, merger or acquisition of Sponsor and shall be subject to written approval by University. Furthermore, University may assign its right to receive payments hereunder. 

        15.2 This
Agreement and the Exclusive License Agreement constitute the entire and only agreements between the parties relating to the Research Program, and all prior
negotiations, representations, agreements and understandings are superseded hereby. No agreements altering or supplementing the terms hereof may be made except by means of a written document signed by
the duly authorized representatives of the parties. In the event of a conflict in the terms between this Agreement and the Exclusive License Agreement, the terms of the Exclusive License Agreement
shall control. 

        15.3 Any
notice required by this Agreement by Articles 8, 9, or 11 shall be given by prepaid, first class, certified mail, return receipt requested, addressed in the case of
University to: 

The
University of Texas System, O.G.C.

201 West 7th Street

Austin, TX 78701

Attention: Intellectual Property Section

FAX: (512) 499-4523

PHONE: (512) 499-4462 

The
University of Texas Southwestern

    Medical Center at Dallas

5323 Harry Hines Blvd.

Dallas, TX 75235-9062

ATTN: Gerald Mussey

              Director, Contracts Management

FAX: (214) 648-8805

PHONE: (214) 648-8748 

or
in the case of Sponsor to: 

Immunicon
Corporation

1310 Mason Mill II

Huntingdon Valley, PA 19006

ATTN: Edward L. Erickson

              Chairman and Chief Executive Officer

FAX: (215) 938-0437

PHONE: (215) 938-0100 

or
at such other addresses as may be given from time to time in accordance with the terms of this notice provision. 

6

 

        IN
WITNESS WHEREOF, the parties have caused this Agreement to be executed by their duly authorized representatives. 

	THE UNIVERSITY OF TEXAS SOUTHWESTERN MEDICAL CENTER AT DALLAS	 	IMMUNICON CORPORATOIN
	

/s/ Peter H. Fitzgerald
 Peter H. Fitzgerald

Executive Vice President for Business Affairs	
 	

/s/ Edward L. Erickson
 Edward L. Erickson

Chairman and Chief Executive Officer

	

Date	

June 18, 1999
	
 	

Date	

6/16/99

7

Attachment A to the Sponsored Research Agreement with Effective Date of June 1, 1999  

Phase I.  

	1.
	Proof
that peripheral blood epithelial cells are neoplastic and are derived from the organ-of-origin of the tumor.

	•
	Optimize
assay that enables [**] on cells selected with EPCAM ferrofluid and identified with cytokeratin. Success is defined as sufficient recovery
of tumor cells to determine [**] and to prove that the tumor cells are derived from the primary tumor.

	•
	Evaluate
if this technique can be adapted to Immunicon's CellSpotter/CellTracks analytical platform

	•
	Perform
the test on breast cancer patients with metastatic disease, lymph node positive, lymph node negative disease and on patients after breast surgery with high risk for
relapse. The number of patients studied in each group will be mutually agreed upon but will be a minimum of 20.

	2.
	Explore
variation of the peripheral blood ephithelial cell count within individual patients at different time intervals. The preliminary results will be used to design a study using
the Immunicon system used for the pivotal study.

	3.
	Explore
variation in epithelial cell count upon storage and shipping of the blood of patients. The preliminary results will be used to design a study using the Immunicon system used
for the pivotal study.

	4.
	Exploration
of new markers that determine organ-of-origin of peripheral blood epithelial cells, these markers should be adaptable for use in the Immunicon CellSpotter/CellTrack system. 

Phase II.  

	1.
	Determine
the variation of the peripheral blood epithelial cell count within individual patients at different time intervals. The number of patients and conditions of shipping,
storage, etc. will depend on the exploratory results obtained in Phase 1. The study will have to be performed with the protocol, reagents and instrument intended to be used in the anticipated pivotal
study.

	2.
	Participate
in Immunicon's pivotal study correlating the epithelial cell number with activity of the disease of patients with metastatic breast cancer. We anticipate that three to four
sites are needed for this trial. The study design will be guided by our preliminary discussion with the FDA and the outcome of the pilot study that is designed in collaboration with
[**]. The start of the pivotal study is anticipated in Q1 2000 and authorship on potential publication(s) will be governed by the number of patients accrued at each site.

	3.
	Clinical
studies in patients with no metastatic disease will require blood volumes larger than 5 ml of blood. Availability of a semiautomatic sample preparation station that can
process 5-30 ml of blood and the CellTracks analyzer are requirements to start this aspect of the program. Screen for the presence of cancer in patients with

	•
	High
risk for breast cancer (n to be mutually agreed)

	•
	Before
and after removal of primary breast tumor (n to be mutually agreed)

	•
	Three
years after removal of primary breast tumor, (n to be mutually agreed)

	4.
	Explore
potential for other malignancies

	5.
	Continue
exploration of new markers 

Note on materials to be supplied by Sponsor
  In addition to the materials required to complete Phases I and II above, Sponsor agrees to provide to 

University
up to [**] per year of research-grade, anti-EpCAM labeled ferrofluid as supplied in its CellSearchTM Epithelial Cell Enrichment Kit (Cat. No. CSA-01) or
equivalent for exploratory research studies. Should additional material be required beyond these quantities, the parties shall negotiate in good faith to establish quantities, delivery and a price per
mg to be supplied by Sponsor to University. However, unless agreed by University, the price per mg shall not exceed Sponsor's cost as established by Generally Accepted Accounting Principles (GAAP).
Further to Section 5 of the Agreement, Sponsor may request periodic oral reports at reasonable intervals and times as to the disposition and use of materials supplied. 

 
 

EXHIBIT B    
    

	1.
	U.S.
Provisional Patent Application Serial Number 60/074,535, filed February 12, 1998, entitled "Test For Detecting, Enumerating and Characterizing Carcinoma Cells in the Blood"
(corresponding for reference purposes only to UT SOUTHWESTERN file number UTSD:568-PZ1).

	2.
	U.S.
Provisional Patent Application Serial Number 60/110,202, filed November 30, 1998, entitled "Detection and Characterization of Carcinoma Cells in the Blood" (corresponding
for reference purposes only to UT SOUTHWESTERN file number UTSD:568-PZ2).

	3.
	U.S.
Patent Application Serial Number 09/248,388, filed February 12, 1999, entitled "Methods and Reagents for the Rapid and Efficient Isolation of Circulating Cancer Cells"
(corresponding for reference purposes only to UT SOUTHWESTERN file number UTSD:568). 

QuickLinks

Exhibit 10.35

EXCLUSIVE LICENSE AGREEMENT BETWEEN UNIVERSITY OF TEXAS SYSTEM AND IMMUNICON CORPORATION

Exhibit A

Sponsored Research Agreement

EXHIBIT B

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