Document:

EXHIBIT 10.37.1

 "CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTIONS OF THIS DOCUMENT HAVE
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       BEEN REDACTED AND HAVE BEEN SEPARATELY FILED WITH THE COMMISSION"
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  DATE            18   MARCH   2005

PARTIES

(1)   INYX PHARMA LIMITED a company incorporated in England and Wales whose
      registered number is 4573515 and with registered office at 6 Seymour
      Court, Manor Park, Runcorn, Cheshire, WA7 1SY ("INYX"); and

(2)   GENERICS [UK] LIMITED a company incorporated in England and Wales whose
      registered number is 1558756 and with registered office at Station Close,
      Potters Bar, Hertfordshire, EN6 1TL ("GUK").

INTRODUCTION

(A)   GUK intends to obtain Registrations for the Product in the Territory to
      enable it to manufacture, package, market, distribute and sell the Product
      in the Territory. GUK wishes to appoint INYX as its non-exclusive
      manufacturer of the Product.

(B)   INYX is willing to assist GUK in obtaining Registrations and to
      manufacture for and exclusively supply GUK with the Product and GUK is
      willing to purchase the Product on the terms and subject to the conditions
      of this Agreement.

OPERATIVE PROVISIONS

1     Interpretation

1.1   In this Agreement (including the Introduction and the Schedules), the
      following words and expressions shall, unless the context otherwise
      requires, have the meanings set out opposite them below:

      Affiliate         in respect of INYX, shall mean any company which at the
                        relevant time is the ultimate holding company of that
                        party or a subsidiary (whether direct or indirect) of
                        that party's ultimate holding company; a company is a
                        "subsidiary" of another company, its "holding company",
                        if that other company (a) holds a majority of the voting
                        rights in it or (b) is a member of it and has the right
                        to appoint or remove a majority of its board of
                        directors, or (c) is a member of it and controls alone,
                        pursuant to an agreement with other shareholders or
                        members, a majority of the voting rights in it, or if it
                        is a subsidiary of a company which is itself a
                        subsidiary of that other company;

<PAGE>

                        in respect of GUK, shall mean the companies set out in
                        Schedule 1;

      Control           means the ability to direct the affairs of another
                        whether by the ownership of greater than fifty per cent
                        (50%) of the issued share capital of that other or by
                        the ability to appoint and maintain a majority of the
                        executive management board of that other or by contract
                        or otherwise;

      Delivery Address  GUK's premises at Unit 2 Summit Centre, Summit
                        Road, Cranborne Industrial Estate, Potters Bar, Herts
                        EN6 3QW and/or such other premises as GUK may direct;

      Device            the devices to be supplied by the Supplier, being (as
                        the case may be) a pressured metered dose inhaler and a
                        breath operated metered dose inhaler;

      Effective         the date of this Agreement first above written;
        Date

      Facility          INYX's facility at Astmoor Industrial Site, Runcorn or
                        such other facility approved by GUK and used in
                        connection with the manufacture of the Product;

      Intellectual      means any and all rights and interests, vested or
        Property        arising out of any patent (including any supplementary
        Rights          patent certificates), copyright, design rights (whether
                        registered or unregistered), trade mark (whether
                        registered or unregistered), trade secrets, industrial
                        property rights, rights in data, goodwill or
                        confidential information whether arising by common law
                        or by statute, any applications for the same, any
                        extensions or divisions of the same and/or the right to
                        apply for registration in respect of the same anywhere
                        in the world;

      MHRA              the Medicines and Healthcare Products Regulatory Agency
                        of the United Kingdom;

      Mutual            the European mutual recognition procedure in relation to
        Recognition     Registrations;

      Product           Salbutamol Hydrofluoroalkane (HFA) sold in standard
                        pressurised and/or breath operated metered dose
                        inhalation aerosols

                        And

                        containing those compounds listed in Schedule 2 in
                        finished pack form and any improvements thereto
                        [manufactured and / or sold under GUK's or its
                        Affiliates' Registration and such other products as the
                        parties may agree from time to time in writing];

                                       2
<PAGE>

      Quarter           any period of three months (or such shorter period as
                        may be applicable at the commencement or at end of the
                        Term) ending on the last day of March, June, September
                        or December (or, in the case of the last Quarter, ending
                        on the last day of the Term) as the case may be and
                        "Quarterly" shall be construed accordingly;

      Registration      the authorisation necessary to allow GUK (or its
                        Affiliates) to manufacture, package, market, distribute
                        and sell the Product in the Territory in accordance with
                        this Agreement;

      Specifications    the specifications for the formulation of the Product in
                        accordance with any Registrations and any other
                        specifications agreed by the parties in writing and
                        listed in Schedule 2;

      Technical         a technical agreement as required under EC law and cGMP
        Agreement       to be agreed between the parties as part of the
                        arrangement for ordering initial launch stocks of packed
                        Product (Schedule 5);

      Term              the term of this Agreement as set out in clause 10.1;

      Territory         all countries of the world;

      Year              each period of twelve months during the Term ending on
                        31 December provided that the first Year shall be the
                        period commencing on the Effective Date and ending on
                        the immediately subsequent 31 December and the last Year
                        shall be the period ending on the last day of the Term
                        and commencing on the immediately preceding I January.

1.2   In this Agreement:

      (a)   references to clauses, Schedules and the parties are to clauses of,
            and the Schedules and parties to, this Agreement;

      (b)   headings and captions are for ease of reference only and shall not
            affect the interpretation of this Agreement; and

      (c)   references to GUK's rights (including its right to acquire the
            Product) under this Agreement shall be construed to include its
            Affiliates; for the avoidance of doubt losses suffered by any
            Affiliates pursuant to breach by INYX shall be treated as losses
            suffered directly by GUK and recoverable accordingly.

                                       3
<PAGE>

2     Appointment

2.1   Subject to the remaining terms of this Agreement, GUK appoints INYX as its
      non-exclusive manufacturer of the Product in the Territory.

2.2   INYX agrees at all times to manufacture and supply Product (where Product
      is manufactured by INYX under GUK's Registrations) only for GUK

2.3   GUK shall be free to purchase Product from third parties (or manufacture
      such Product itself), provided that 52% of GUK's annual requirement for
      the Product is purchased from INyX.

3     Registration

3.1   GUK shall, at its cost, make applications for Registration in such
      countries within the Territory as it deems appropriate. It is acknowledged
      that GUK shall be entitled to take advantage of Mutual Recognition where
      appropriate.

3.2   To enable GUK to apply for Registrations as soon as possible after the
      Effective Date, INYX agrees to provide GUK in a timely manner, with all
      the assistance it reasonably requires from time to time to make the
      applications for Registrations and as GUK reasonably requires thereafter.
      In particular INYX shall, or shall procure that others, regularly monitor
      all supplies of Product (including Devices and components therefor and all
      ingredients (active and inactive) and compounds with which the Device is
      to be filled) and to ensure that these are supplied within Specifications
      set by GUK. INYX will operate only from manufacturing facilities approved
      (or to be approved prior to production) by an appropriate regulatory
      authority and by GUK.

3.3   All Registrations and Intellectual Property associated with registrations
      obtained by GUK shall remain the exclusive property of GUK. INYX shall
      have the right to use without limitations all improvements to the
      manufacturing process.

4     Manufacture and Supply

4.1   The Product shall be manufactured by INYX at the Facility.

4.2   The Product shall be manufactured by INYX in accordance with the
      Specifications and subject to current standards of good manufacturing
      practice as published from time to time by the relevant authorities in the
      Territory in relation to medicinal products.

4.3   GUK shall be entitled, at any time during the Term and without materially
      disrupting the business of INYX, to have access to the Facility during
      normal working hours and on reasonable prior written notice, in order to
      verify that INYX is adhering to its obligations under this Agreement. If
      GUK is not reasonably satisfied that INYX is complying with such
      obligations then (without prejudice to its other rights) it shall notify
      INYX in writing of any changes or modifications it reasonably requires
      which INYX shall implement as soon as practically possible.

4.4   The parties recognize that certain items of equipment (Schedule 4) used by
      INYX belong to GUK. GUK shall (where it elects to purchase Product from
      another, or manufacture or have manufactured, Product, and in any event,
      upon termination) be entitled to collect such equipment immediately and
      INYX shall co-operate fully with GUK in this regard. For so long as the
      equipment is used by INYX, INYX shall properly use and maintain the
      equipment, keep the equipment in good repair and condition and obtain
      insurance therefor (for the full replacement cost). All risk of loss or
      damage to the equipment shall be for INYX for so long as it is using the
      equipment.

                                       4
<PAGE>

5     Forecasts and Deliveries

5.1   INYX agrees to maintain levels of intermediate buffer stocks (filled,
      unlabelled cans) of the Product in such quantities as the parties may
      agree from time to time and INYX shall invoice GUK upon transfer to bulk
      stock at 70.0% of the price as agreed in terms of Clause 7.1 GUK shall
      provide INYX on a quarterly basis with non-binding Quarterly rolling
      forecasts of GUK's and its Affiliates (and third party distributors)
      likely requirements of Product for the subsequent 12 month period and to
      place firm orders for the Packed Product not less than two months before
      the desired delivery date.

5.2   Despatch shall be made by INYX such as to ensure that deliveries are made
      during GUK's normal business hours.

5.3   Risk in the Product shall pass to GUK on despatch to the Delivery Address
      and title shall pass on payment in full by GUK.

5.4   Each consignment of the Product ordered by GUK shall be delivered in full
      by the due date, subject to any changes agreed between the Parties in
      writing.

5.5   INYX will despatch the Product to GUK, ex-works Runcorn (as that term is
      defined Incoterms 1990 Edition), to the Delivery Address on or before the
      date stipulated in the relevant order.

5.6   Each delivery or consignment of the Product shall include a packing note
      quoting or attaching:

      (a)   the batch number and order number;

      (b)   product documentation should be defined!; and

      (c)   a certificate of analysis

      as more particularly described in the Technical Agreement.

5.7   Time is of the essence in the delivery by INYX of the Product. If delivery
      dates for the Product cannot be met, INYX shall (without prejudice to
      GUK's rights in respect of such breach) promptly notify GUK of the
      earliest possible date for delivery of the Product. INYX will report
      immediately to GUK the occurrence of any event within or beyond its
      control which is likely to affect delivery of the Product.

5.8   WHERE INYX CANNOT FULFIL GUK'S ORDER(S) FOR PRODUCT (IN THE QUANTITIES AND
      TIME-SCALES SET OUT IN SUCH ORDER(S) FOR ANY REASON, GUK SHALL BE ENTITLED
      WITHOUT LIABILITY TO CANCEL ALL OR ANY PART OF THE RELEVANT ORDER(S). SUCH
      RIGHT SHALL ARISE WHENEVER GUK HAS KNOWLEDGE OF INYX'S FAILURE OR LIKELY
      FAILURE TO MEET SUCH ORDERS IN FULL.

                                       5
<PAGE>

6     Acceptance and Quality Control

6.1   GUK or its Affiliates shall examine deliveries of the Product and perform
      a visual delivery inspection within 48 working hours of receiving the
      Product and a quality control inspection within 30 days of delivery of the
      Product. If, in GUK's reasonable opinion, a delivery of the Product does
      not comply with the Specifications, is defective or otherwise does not
      materially comply with the provisions of this Agreement then GUK shall so
      notify INYX in writing (and submit samples) within 30 days of delivery of
      the Product or, if later, 30 days after discovery of the defect provided
      that defects which are not identified in standard sample checks by GUK
      shall not be treated as GUK having accepted the Product or, inter alia,
      lost its right to reject defective or non-complying Product.

6.2   In any case where Product is delivered and is rejected in accordance with
      the provisions of this Agreement, GUK shall dispose of the defective
      delivery after consultation with INYX and at INYX's expense. INYX shall
      (irrespective of whether clause 6.3 applies) forthwith (and, in any event
      within 60 days) deliver replacement Product to GUK at INYX's expense. If
      the cause of rejection is minor (for example, misspelt label, etc) then
      INYX may elect to "re-work" in accordance with the protocol agreed by GUK.

6.3   Should the parties be unable to agree on the existence of a defect, on the
      request of either GUK or INYX a representative sample from the
      corresponding batch shall be delivered to an independent specialist,
      acting as an expert and not an arbitrator, for examination. The
      independent specialist shall be appointed by agreement between the
      parties. The decision of the independent specialist shall be final and
      conclusively binding on the parties. The cost of obtaining the sample and
      the examination shall be paid by the party against whom the specialist's
      decision is made. Both parties shall be obliged to co-operate with the
      independent expert in providing technical data, availability of test data
      and other matters required by the expert.

6.4   This Agreement shall be read together with the Technical Agreement and in
      the event of any inconsistencies between this Agreement and the Technical
      Agreement, this Agreement shall prevail.

7     Price and Payment

7.1   The price for the Product shall be that as set out in Schedule 3 or as
      amended and agreed in writing from time to time by the parties.

7.2   Unless otherwise agreed in writing, INYX may invoice GUK for the Price
      (less any amount paid under clause 5.1) on or at any time after proper
      delivery of the Product and each invoice shall quote the order reference
      number. Invoices shall be paid on the 20th of the month following the
      invoice date.

7.3   Payment shall be conditional upon GUK having accepted that the Product is
      in conformity with the Agreement.

7.4   All monies payable by GUK to INYX under this Agreement shall be paid in
      (pound)sterling or in such other currencies as may be agreed between the
      parties from time to time in writing.

7.5   GUK agrees to provide INYX free of charge with all packaging origination
      work and artwork for all Product. Should INYX be requested by GUK to
      provide packaging services in relation to the Product then INYX shall
      provide such a service and GUK will reimburse INYX with the appropriate
      costs of such a service provided the same are supported by documentary
      evidence and on receipt of a valid VAT invoice.

                                       6
<PAGE>

8     Warranties, Indemnities and Guarantee

8.1   Each party represents and warrants to the others that it has the full
      right and authority to enter into this Agreement and that it has obtained,
      or will obtain, and will at all times during the Term, hold and comply
      with all licences, permits and authorisations necessary to carry out its
      obligations under this Agreement.

8.2   INYX warrants and represents that in addition to any warranty given under
      the Technical Agreement:

      (a)   Product supplied by INYX to GUK or its Affiliates will be free from
            defects in composition, manufacture and ingredients and shall comply
            with the Specifications (QC ok) and Registration requirements and
            with current standards of good manufacturing practice as published
            from time to time by the applicable authorities in the Territory in
            relation to medicinal products;

      (b)   the Facility is and will continue to be approved by all applicable
            regulatory authorities including the MHRA;

      (c)   it will perform all of its obligations under this Agreement
            expeditiously and with the utmost care and skill and will duly
            comply with all of its obligations under this Agreement;

      (d)   it is not a party and will not be a party to any agreement which
            would prevent it from fulfilling its obligations under this
            Agreement and that it will not, during the Term, enter into any
            agreement which would in any way materially restrict its ability to
            perform its obligations under this Agreement.

8.3   INYX agrees to indemnify and hold GUK harmless from all direct losses,
      claims, demands, damages, costs or expenses arising from or in connection
      with (i) any breach of warranty given by INYX under this Agreement and
      (ii) any and all third party claims arising from or in connection with
      INYX's breach of this Agreement. For the avoidance of doubt indirect or
      consequential losses are excluded, as are loss of profits, cost of capital
      and loss of facility under this indemnity.

8.4   INYX total liability is limited to the available insurance as detailed
      below:

<TABLE>
<CAPTION>
                                                        -------------------------------------------------------------------------
                                                        Limit of Indemnity
                              Section                   INCLUSIVE OF DEDUCTIBLE
           ----------------------------------------------------------------------------------------------------------------------
<S>        <C>                                          <C>
           1.      Public Liability                     (pound)5,000,000 any one event
           ----------------------------------------------------------------------------------------------------------------------
           2.      Products Liability                   (pound)5,000,000 any one event and in all in any one insurance year
           ----------------------------------------------------------------------------------------------------------------------
           3.      Errors and Omissions Extension
                a)      Injury/Damage                   (pound)5,000,000 any one event and in all in any one insurance year
           ----------------------------------------------------------------------------------------------------------------------
                b)      Financial Loss                  (pound)1,000,000 any one event and in all in any one insurance year
           ----------------------------------------------------------------------------------------------------------------------
</TABLE>

                                       7
<PAGE>

8.5   Furthermore, if INYX is in breach of any of the above warranties (or if it
      suffers an event of force majeure) GUK shall be free, notwithstanding
      clause 2.1, to manufacture or have manufactured, Product.

8.6   GUK warrants that it will:

      (a)   advise INYX in writing in a timely manner of any changes to any
            Registration or Specification that it brings about that will affect
            INYX's ability to manufacture or deliver any quantity of Product
            against GUK's orders;

      (b)   advise INYX in writing of any Product complaints from any market for
            any Product within a reasonable time (INYX will acknowledge
            complaints within 5 working days and will endeavour to address them,
            to GUK's satisfaction, within 30 working days.)

      (c)   submit and use all reasonable endeavours to maintain Registrations
            for the Product in the countries selected by it under clause 3.1.

9     Confidentiality

9.1   Save as is otherwise required by law or any regulatory authority and
      without prejudice to GUK's rights to exercise its Intellectual Property
      Rights, each party undertakes to the other party that during the Term and
      thereafter it will keep secret and will not without the prior written
      consent of the other party disclose to any third party any confidential
      information relating to the business or affairs of such other party
      ("Confidential Information") learned by the recipient party or disclosed
      to the recipient party by such other party pursuant to or otherwise in
      connection with this Agreement (except insofar as any such Confidential
      Information shall (otherwise than by breach of this Agreement) be in the
      public domain) or subsequently comes lawfully into the possession of the
      recipient party from a third party without the imposition of any duty of
      confidentiality by such third party.

9.2   To the extent that it is necessary to implement the provisions of this
      Agreement the recipient party may disclose Confidential Information to its
      employees and its Affiliates as may reasonably be necessary provided that
      before any such disclosure the recipient party shall make such employees
      aware of their obligations of confidentiality under this Agreement and
      shall at all times procure compliance with such obligations of
      confidentiality.

10    Duration and Termination

10.1  Subject to clauses 10.2 and 13, this Agreement shall be for an initial
      period of four years commencing on the Effective Date ("the Initial
      Period") and shall continue thereafter unless and until termined by a
      party giving at least twelve months prior written notice to the other,
      such notice to expire on or at any time after the end of the Initial
      Period.

                                       8
<PAGE>

10.2  GUK shall have the right to terminate this Agreement forthwith by notice
      in writing to INYX in the event that:

      (a)   GUK concludes that, the performance of the product is such that
            continuing to pursue a Marketing Authorisation Application is
            unlikely to be successful, or that regulatory approval cannot be
            attained.

      (b)   INYX shall be guilty of any material breach, non-observance or
            non-performance of any of its obligations under this Agreement
            which, if capable of remedy, is not remedied or commenced to be
            remedied and such remedy is diligently pursued within thirty (30)
            days after receiving written notice of the same (provided that
            breach of warranty shall be deemed incapable of remedy);

      (c)   INYX Pharma Ltd shall be liquidated, unable to pay its debts in the
            ordinary course of business passes a resolution for winding up or
            has a receiver appointed over all or any of its assets or otherwise
            becomes subject to the insolvency laws under the laws of the country
            in which it was incorporated.

10.3  INYX shall have the right to terminate this Agreement forthwith by notice
      in writing to GUK in the event that:

      (a)   GUK shall be guilty of any material breach, non-observance or
            non-performance of any of its obligations under this Agreement
            which, if capable of remedy, or commenced to be remedied and such
            remedy is diligently pursued is not remedied within thirty (30) days
            after receiving written notice of the same;

      (b)   GUK shall be liquidated, unable to pay its debts in the ordinary
            course of business, passes a resolution for winding up or has a
            receiver appointed over all or any of its assets or otherwise
            becomes subject to the insolvency laws under the laws of the country
            in which it was incorporated;

11    Consequences of Termination

      Any termination of this Agreement (howsoever occasioned) shall not affect
      any accrued rights or liabilities of either party nor shall it affect the
      coming into force or the continuance in force of any provision hereof
      which is expressly or by implication intended to come into or continue in
      force on or after such termination.

12    Assignment

      Save as permitted under this Agreement, the rights, interests and
      obligations under this Agreement shall not be assignable by either party
      (other than to its legal successors or an Affiliate) without the prior
      written consent of the other party, such consent not to be unreasonably
      withheld or delayed.

13    Force Majeure

13.1  Neither party shall be liable to the other for any default under this
      Agreement caused by war, riot, fire, flood, drought, act of God or any
      other cause which is beyond the reasonable control of the defaulting party
      ("Force Majeure Event"). The payment of any amount due under this
      Agreement shall not be subject to Force Majeure.

13.2  IF A FORCE MAJEURE EVENT OCCURS THEN THE PARTY AFFECTED SHALL IMMEDIATELY
      NOTIFY THE OTHERS AND TAKE ALL REASONABLE STEPS TO REDUCE THE EFFECT OF
      THE FORCE MAJEURE EVENT. IF THE FORCE MAJEURE EVENT CONTINUES FOR A PERIOD
      OF 120 DAYS OR MORE THE PARTY NOT SUFFERING THE FORCE MAJEURE EVENT SHALL
      BE ENTITLED TO TERMINATE THIS AGREEMENT PROVIDED SUCH FORCE MAJEURE EVENT
      IS CONTINUING AT THE DATE OF TERMINATION.

                                       9
<PAGE>

14    Intellectual Property

      GUK shall own any and all Intellectual Property Rights existing or
      hereafter created relating to the Registrations and the Product. INYX
      hereby assigns (including by way of present assignment of future rights)
      all such Intellectual Property Rights relating to the Registrations and
      the Product and agrees to do such further acts, deeds and things as GUK
      require to give effect to this clause.

15    Non-Waiver

      The failure of a party at any time to require performance of the other
      party of any provision hereof shall not in any way affect the right to
      require such performance at any time thereafter. The waiver by a party of
      any breach of any provision hereof shall not be held to be a waiver of any
      subsequent breach of the same provision or of any other provision hereof.

16    Amendments

      No amendment or modification of this Agreement shall be valid or binding
      upon either of the parties unless made in writing and signed by an
      authorised representative of each party.

17    Severability

      In case any one or more of the provisions of this Agreement should be
      invalid, illegal or unenforceable in any respect, the validity, legality
      and enforceability of the remaining provisions contained herein shall not
      in any way be affected or impaired thereby and the parties shall amend
      this Agreement to add a new provision having an effect as near as legally
      permissible to the one found invalid, illegal or unenforceable.

18    Entire Agreement

      This Agreement together with the Technical Agreement supersedes any
      previous agreement between the parties in relation to the matters dealt
      with in this Agreement.

19    Notices

19.1  Any notice required or permitted to be given under this Agreement shall be
      in writing and in the English language and shall be sent to the address of
      the recipient as set out above or to such other address as the recipient
      may designate by notice to the other party in accordance with this clause.
      Any such notice shall be delivered personally, sent by first class post or
      by facsimile (with a confirmatory copy sent by post)

19.2  Any notice shall be deemed to have been given:

      (a)   if delivered personally, when delivered;

      (b)   if sent by post, seven days after posting it; and

      (c)   if sent by facsimile, when clearly received in full on the next
            business day.

                                       10
<PAGE>

20    Remedies Not Exclusive

      No remedy conferred by any provisions of this Agreement is intended to be
      exclusive of any other remedy and each and every such remedy shall be
      cumulative and shall be in addition to every other remedy given hereunder
      or now or hereafter existing in law or in equity or by statute or
      otherwise. Rights in favour of a party given under an indemnity shall be
      without prejudice to any right to claim damages for breach of contract
      committed by the other party.

21    Law and Jurisdiction

      This Agreement shall be governed and interpreted in accordance with
      English law and the parties irrevocably agree to submit to the
      non-exclusive jurisdiction of the English courts.

                                       11
<PAGE>

                                   SCHEDULE 1

                    CORPORATE STRUCTURE CHART Merck Generics

                                  To be amended

                                   SCHEDULE 2

                                     PRODUCT

Salbutalmol HFA and BOI BP    100 mcg/dose     200 doses      Inhalation Aerosol

<PAGE>

                                   SCHEDULE 3

                                     PRICING

1     Packed Product for Sale

      1.    Salbutamol 100 mcg MDI (UK pack only)

            For volumes up to 4m doses per annum: ***

            For volumes in excess of 4m doses per annum ***

      This price is based upon standard manufacturing batch size of 100,000
      units per batch

      2.    ***

2     Other Markets

      Prices for Packed Product for other markets or new pack specifications for
      Packed Product for the UK market will be agreed in writing in advance of
      the launch of the new market pack.

3     Price changes

      The prices shown above shall be valid for twelve months from the Effective
      Date and may be varied thereafter by agreement between the parties subject
      to 6 months' notice. The reasons for a price change request may be for
      example as follows:

      (i)   by INYX by reason of manufacturing, material or component cost
            changes, or changes in specifications and the effect of volumes

      (ii)  by GUK to maintain GUK in a competitive market place position.

      PROVIDED THAT in no event may prices increase above the UK RPI (Retail
      Prices Index) in any Year and provided further that, if no agreement can
      be reached, either party can terminate this Agreement on 6 months notice.

*** - Confidential material redacted and filed separately with the Commission."

<PAGE>

                                   SCHEDULE 4

                               GUK Equipment list

                                  To be amended

                                   SCHEDULE 5

                               Technical Agreement

                                 (To be amended)

<PAGE>

ATTESTATIONS

         Signed                                       )  /s/ Ulrich Bartke

         for and on behalf of                         ) VP Sales and Marketing
         INYX PHARMA LIMITED                          )

         in the presence of:                          )  /s/ Lesley Buckendge

         Signed                                       )

         for and on behalf of                         )  /s/ S. R. Self
         GENERICS [UK] LIMITED                        )  Group Director

         in the presence of:                          )  R. J. SheorAGREEMENT

      THIS  AGREEMENT is entered into as of the 24th day of April,  2005, by and
between  Cyber  Defense  Systems,  Inc., a Florida  corporation  ("Cyber"),  and
Techsphere  Systems  International,  LLC. a Georgia LLC  (referred  to herein as
"TSI").

      1. Recitals. The purpose of this Agreement is:

            A. To set forth  certain  binding  agreements  between Cyber and TSI
with respect to the formation of a joint venture to acquire four (4)  non-remote
(manned) MAA airships ("Airships") to lease for commercial purposes.

            B. To effect  changes in the current  Marketing and Sales  Agreement
between TSI and Cyber dated May 1, 2004 ("MSA").

            C. To provide the  outline,  terms and  conditions  to be used in an
operating  agreement to be entered into  between  TSI,  Cyber and the  Investors
described in Section  3(c)(ii),  who will be the members of Airship Leasing Co.,
LLC.

      2.  Amendment to MSA.  The current MSA grants Cyber an exclusive  right to
market  and  sell  Airships  to   government   and  military  end  users  and  a
non-exclusive  right to  market  and sell  Airships  to  commercial  end  users.
Commissions  of up to 15% of the  purchase  price are to be paid to Cyber on all
sales of  Airships to  government  and  military  end users and up to 15% of the
purchase  price of all sales made by Cyber to  commercial  end  users.  Upon the
execution and delivery of this  Agreement,  the MSA shall be amended as follows:
For  consideration  given  for the right to lease  the four  Airships  under the
proposed Joint Venture the commission  payable to Cyber under the MSA, excluding
the first two airships  currently being built by TSI, is hereby reduced from `up
to 15%' to `6.5%' of the purchase  price  received by TSI or its  Affiliates for
all sales to government and military end users.  For Cyber sales,  no commission
shall be owed  Cyber on that  portion of the  purchase  price  representing  the
license fee, if any, TSI has included in the purchase price and actually pays to
21st  Century  Airships  pursuant  to TSI's  license  agreement  with such firm.
Further,  no  commission  will be owed to Cyber on the  amount of revenue in any
sale by Cyber on any items  identified and agreed to by the parties as being (1)
items  considered  and mandated by the  government as "Pass Thru" items,  or (2)
items for which no profit is  allowed  by law.  Cyber  will not be  entitled  to
receive a commission  from TSI on any amounts  paid  directly by or on behalf of
the end user to any Person other than TSI or its Affiliates  for  integration or
any other work performed by that Person.

<PAGE>

      3. Formation and Terms of Joint Venture.

            (a) Cyber shall form an  Oklahoma  limited  liability  company to be
known as Airship Leasing Co., LLC ("ALC").  Investors in ALC (the  "Investors"),
other than TSI,  shall  contribute  amounts  sufficient to allow ALC to purchase
from TSI a total of four (4)  non-remote  (manned)  mid-altitude  airships (MAA)
within two (2) years from the date hereof  (subject to tolling as  described  in
Section  3(b)(iii)  below) to be used for the purpose of leasing the airships to
commercial  end users as  described  herein.  Upon  payment of the Down  Payment
(defined  below)  basic  specifications  for these ships will be described in an
Airship  purchase order ("Airship  Purchase  Agreement")  signed by ALC and TSI.
Major changes ("Major Change Orders") in basic  specifications  described in the
Airship Purchase Agreement may result in a price adjustment.

            (b) (i) The purchase  price  ("Purchase  Price")  payable by ALC for
each airship  shall be  $3,500,000.00  per Airship with the  understanding  that
Cyber  waives its right to collect a  commission  for the sale of the Airship to
ALC and the  sale/lease to the commercial  end user.  Third party  commission to
advertising and promotional  agencies ("Agency  Commissions") will be permitted.
This  Agency  Commission  will be paid  out of the  gross  lease  and  will be a
prorated expense of all parties,  i.e.,  Investors 50%; ALC 25%; TSI or assigns,
25%. The Purchase Price does not include the cost of FAA Type Certification.  If
the cost of the FAA Type  Certification  for the  first  Airship  is paid by the
Investors,  or is first paid by TSI and then added to the Purchase Price paid by
ALC with  Investors'  contributions,  that cost will be added to the amount that
must be returned to the Investors to reach Payout, as defined below.

                  (ii) The full amount of the  Purchase  Price for each  Airship
shall be  payable  to TSI in  installments  upon  the  completion  of  specified
milestones set forth in the Airship Purchase Agreement for the Airship. Prior to
commencement of construction of each Airship, ALC shall verify in writing to TSI
that the full amount of the Purchase  Price for the Airship is either on deposit
with ALC or is irrevocably committed by the Investors to be paid in installments
to ALC upon TSI reaching such milestones. One third of the Purchase Price ("Down
Payment")  will  accompany  the Airship  Purchase  Agreement for each Airship in
order to secure raw  materials  to begin the build of each  Airship.  Subsequent
payments will be made on the milestone basis as described  above. No acquisition
of  materials  or  manufacturing  will  begin  until the Down  Payment  has been
received by TSI.  It is also  understood  that  $125,000.00  of the  $500,000.00
("$500,000.00  Balance")  previously  paid for the 62' airship  thru an exchange
with Sierra  Nevada Corp.  ("SNC") will be deducted  from the Purchase  Price of
each of the four (4)  Airships  as part of the  final  payment  of the  Purchase
Price, for a total credit of $500,000.00.

                  (iii) Failure to order the full four (4) Airships as described
within the 2 year period will result in the  forfeiture  of the total  remaining
$500,000.00 Balance; provided, however, the running of the 2-year period will be
tolled until the FAA Type Certification for the first Airship is obtained.

                                       2
<PAGE>

            (c) Cyber shall be the sole manager of ALC and shall have  exclusive
control over the leasing activities of ALC; however, TSI shall have the right to
review ALC's financial  records  concerning the income and expenses  relating to
the leases of the  Airships at any  reasonable  time upon forty eight (48) hours
notice.  Profits  attributable  to  ALC's  operations,  after  payment  of ALC's
operating  expenses and reasonable  reserves for working  capital  requirements,
shall be allocated as follows:

            (i) 100% to the ALC Investors  until Payout,  which shall be defined
      as the date on which the aggregate  amount of cash  distributions  paid to
      the Investors equals the aggregate  capital  contributions by Investors to
      ALC for the four (4) described  airships;  and

            (ii) After  Payout,  50% to  Investors,  25% to TSI and 25% to Cyber
      which shall be timely paid after receipt by ALC. Provided, however, if the
      cost of the FAA Type  Certification  for the first  Airship is paid by TSI
      without  being added to the Purchase  Price,  then after  Payout,  profits
      shall be 50% to Investors  and 50% to TSI until TSI has been  recouped all
      such costs, and thereafter, the share of profits shall be allocated 50% to
      Investors,  25% to TSI and 25% to Cyber.  Provided further, if the cost of
      the FAA Type  Certification  for the first Airship is paid by Cyber,  then
      after  Payout,  profits  shall be 50% to Investors  and 50% to Cyber until
      Cyber has been  recouped  all such  costs,  and  thereafter,  the share of
      profits shall be allocated 50% to Investors,  25% to TSI and 25% to Cyber.
      ALC or any party  shall  have the right to audit  any costs  claimed  by a
      party for  obtaining  such FAA Type  Certification.  Any dispute as to the
      amount to be recouped shall be resolved pursuant to 9 m.

            (d) Upon  completion,  full payment and delivery of each of the four
(4) subject  Airships TSI shall grant ALC a  non-exclusive  license to lease the
Airship  to  Commercial  end users only for  advertising  and  promotion  of the
lessee's  products.  The term "Commercial"  shall not by any definition  include
airships  intended  for  use  for   telecommunications,   by  telecommunications
companies or designed for higher altitude than the MAA is intended.

            (e) Because this is a new type of airship and the market prices have
not been established, ALC will investigate and determine the market values to be
used  in  leasing  this  type  of  airship  to the  commercial  advertising  and
promotional market.

                                       3
<PAGE>

      4  Additional  Amendments  to MSA.  The parties  acknowledge  that the MSA
grants Cyber a non-exclusive right to market and sell Airships on a global basis
to all Commercial (as defined  herein) and  telecommunications  end users and to
receive  a  commission  of up to 15% on all  Commercial  and  telecommunications
sales/leases.  The MSA is hereby  amended to change "up to 15%" to nine  percent
(9%) of the Airship  purchase/lease price received by TSI or its Affiliates from
Commercial  and  telecommunications  sales/leases.  Such  commissions  shall  be
payable on  purchase/lease  price received by TSI or its  Affiliates,  for sales
made  by  Cyber  and a  purchase  order  received  by  received  by  TSI  or its
Affiliates, whether the sale/lease involves an entire Airship or any space on an
Airship.  Cyber will not be  entitled  to receive a  commission  from TSI on any
amounts  paid  directly by or on behalf of the end user to any Person other than
TSI or its  Affiliates  for  integration or other work performed by that Person.
Further,  except as provided below, no customers will be assigned or `locked in'
to any company.  In order to be entitled to be paid the  commission,  a Purchase
Order must be presented to TSI with one third of the Purchase Price and accepted
by TSI within 30 days of tender. If, in the future,  that same customer reorders
a completed airship, then that sales commission belongs to the person or company
who brought in the original order from that  customer.  Without a Purchase Order
accepted by TSI, no reservation of customers will be considered. For the term of
the MSA,  Cyber agrees that it will not engage in the business of  manufacturing
Airships for sale;  however,  nothing in this covenant  shall prevent Cyber from
engaging in the business of manufacturing  propulsion  systems and other Airship
components  for sale.  For the term of the MSA,  there will be no license fee of
any kind charged to TSI for the use of any such parts whether  patented by Cyber
or not. The MSA is hereby  further  amended as necessary in order to comply with
the terms of this Agreement.

      5. Certain  Definitions.  As used herein, the following  capitalized terms
shall have the meanings ascribed to them:

            (a) With respect to any specified Person, "Affiliate" means, (i) any
Person that,  directly or  indirectly,  controls,  is controlled by, or is under
common control with, such specified Person, (ii) any officer, director, partner,
manager or  controlling  equity holder of such specified  Person;  and (iii) any
Person that,  directly or  indirectly,  controls,  is controlled by, or is under
common  control with,  any officer,  director,  partner,  manager or controlling
equity holder of such  specified  Person.  For the purposes of this  definition,
"control"  (including,  with  correlative  meaning,  the terms  "controlled by,"
"under  common  control  with" and  "controlling")  as used with  respect to any
specified  Person,  shall mean the  possession,  directly or indirectly,  of the
power to direct or cause the  direction of the  management  and policies of such
Person,  whether  through the  ownership of voting  securities or by contract or
otherwise.

            (b) "Person" means any individual,  partnership,  limited  liability
company,  corporation,  joint venture,  trust,  business  trust,  cooperative or
association,  and the heirs, executors,  administrators,  legal representatives,
successors and assigns of such Person where the context so admits.

                                       4
<PAGE>

      6.  Representations and Warranties.  Each party represents and warrants to
the other the following:

            (a)  The   execution   and  delivery  of  this   Agreement  and  the
consummation  by it of the  transactions  contemplated  herein  have  been  duly
authorized by all necessary  action on the part of the party's  governing  board
and equity owners.

            (b) The  party  has full  power  and  authority  to enter  into this
Agreement.

            (c) This  Agreement  and the  transactions  contemplated  hereby are
valid and binding upon the party and enforceable in accordance with their terms.

      7. Public Disclosure.  Neither Cyber nor TSI shall make any public release
of  information  regarding  the matters  contemplated  herein except (i) a joint
press  release in agreed form shall be issued by Cyber and TSI as promptly as is
practicable after the execution of this Agreement, and (ii) as required by law.

      8.  Confidentiality.  Cyber, ALC and TSI, including the Affiliates of each
(the  "Receiving  Party") agree to treat all  information  concerning  the other
furnished,  or to be furnished,  by or on behalf of such party (the  "Delivering
Party") in accordance with the provisions of this Section 8  (collectively,  the
"Information"),  and to take,  or abstain from taking,  other  actions set forth
herein.  The  Information  will be used solely for the  purpose of  transactions
contemplated by this Agreement,  and will be kept  confidential by the Receiving
Party and its officers, directors, managers, employees, representatives, agents,
and advisors;  provided that (i) any of such Information may be disclosed to the
Receiving Party's officers,  directors,  managers,  employees,  representatives,
agents,  and advisors who need to know such Information,  (ii) any disclosure of
such Information may be made to which Delivering Party consents in writing,  and
(iii) such  Information may be disclosed if so required by law. Upon termination
of this  Agreement  by  mutual  consent,  the  Receiving  Party  will  return to
Delivering Party all material  containing or reflecting the Information and will
not retain any copies,  extracts, or other reproductions thereof. The provisions
of this Section 8 shall survive the termination of this Agreement.

      9. General.

            (a) This Agreement  shall not confer any rights or remedies upon any
Person  other  than the  parties  hereto  and their  respective  successors  and
permitted assigns.

            (b) This  Agreement  constitutes  the entire  agreement  between the
parties and supersedes any prior understandings,  agreements, or representations
by or between the  parties,  written or oral,  to the extent they related in any
way to the joint  venture  and the sale and  purchase  of the four (4)  Airships
described above.

                                       5
<PAGE>

            (c) This Agreement shall be binding upon and inure to the benefit of
the parties named herein and their respective heirs,  personal  representatives,
successors and assigns.

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

            (e) The section  headings  contained in this  Agreement are inserted
for  convenience   only  and  shall  not  affect  in  any  way  the  meaning  or
interpretation of this Agreement.

            (f) All notices, requests, demands, claims, and other communications
hereunder  will be in writing.  Any notice,  request,  demand,  claim,  or other
communication  hereunder  shall be deemed  duly given if (and then two  business
days  after)  it is  sent  by  registered  or  certified  mail,  return  receipt
requested, postage prepaid, and addressed to the intended recipient as set forth
below:

                  If to TSI:         Techsphere Systems International, L.L.C.
                                     750 Hammond Drive, Building 10, Suite 100
                                     Atlanta, Georgia 30328
                                     Attn:  Mike Lawson, President

                  If to Cyber:       Cyber Defense Systems Inc.
                                     10901 Roosevelt Blvd.
                                     Suite 100D
                                     St. Petersburg, Florida 33716
                                     Attn: William C. Robinson, CEO

Either party may change the address to which notices, requests, demands, claims,
or other communications  hereunder are to be delivered by giving the other party
notice in the manner herein set forth.

            (g) This Agreement  shall be governed by and construed in accordance
with the domestic  laws of the State of Oklahoma  without  giving  effect to any
choice or conflict of law provision or rule (whether of the State of Oklahoma or
any other  jurisdiction)  that would  cause the  application  of the laws of any
jurisdiction other than the State of Oklahoma.

            (h) No amendment of any provision of this  Agreement  shall be valid
unless the same shall be in writing and signed by both parties. No waiver by any
party of any  default,  misrepresentation,  or breach of  warranty  or  covenant
hereunder, whether intentional or not, shall be deemed to extend to any prior or
subsequent  default,  misrepresentation,  or  breach  of  warranty  or  covenant

                                       6
<PAGE>

hereunder  or affect  in any way any  rights  arising  by virtue of any prior or
subsequent such occurrence.

            (i) Any term or  provision  of this  Agreement  that is  invalid  or
unenforceable in any situation in any jurisdiction shall not affect the validity
or  enforceability  of the remaining terms and provisions hereof or the validity
or  enforceability  of the offending term or provision in any other situation or
in any other jurisdiction.

            (j) Each  party  shall  bear its own costs and  expenses  (including
legal fees and  expenses)  incurred in  connection  with this  Agreement and the
transactions contemplated hereby.

            (k) The parties have  participated  jointly in the  negotiation  and
drafting of this  Agreement.  In the event an ambiguity or question of intent or
interpretation  arises,  this Agreement shall be construed as if drafted jointly
by the parties  and no  presumption  or burden of proof shall arise  favoring or
disfavoring  any party by virtue of the  authorship of any of the  provisions of
this Agreement.

            (l)  Whenever  the context  may  require,  any pronoun  used in this
Agreement shall include the corresponding  masculine,  feminine or neuter forms,
and the singular form of nouns,  pronouns and verbs shall include the plural and
vice versa.

            (m) Any  controversy  or claim  arising  out of or  relating to this
Agreement, or the breach thereof, shall after the parties have met and conferred
in good faith to resolve the problem or dispute,  first be referred to mediation
to be conducted by an independent  mediator selected by mutual agreement,  or in
the  absence  of mutual  agreement  within  fifteen  (15) days after a party has
requested  mediation,  then by a mediator appointed by the American  Arbitration
Association  ("AAA") through its office located in St. Louis,  Missouri.  If any
controversy or claim arising out of or related to this Agreement,  or the breach
thereof, cannot be resolved through good faith mediation, the parties agree that
either  party may submit the dispute to final and binding  arbitration  before a
single  arbitrator under the AAA Commercial  Arbitration Rules to be held at the
AAA office  described  above (or at any other place  mutually  acceptable to the
parties so involved).  Any dispute between the parties as to whether an issue is
subject to arbitration shall be resolved by the arbitrator. The arbitrator shall
have no authority to award punitive damages or other damages not measured by the
prevailing  party's actual  damages and may not, in any event,  make any ruling,
finding  or award  that does not  conform  to the terms and  conditions  of this
Agreement. The expenses of the arbitration shall be borne equally by the parties
to the arbitration;  provided that each party shall pay for and bear the cost of
its own experts,  evidence and counsel's fees unless the  arbitrator  determines
otherwise.  Judgment on the award rendered by the arbitrator may be entered into
any court having jurisdiction  thereof.  Each party agrees that a final judgment
in any action or proceeding  so brought shall be conclusive  and may be enforced
by suit on the judgment or in any other manner provided by law or in equity.

                                       7
<PAGE>

            (n) If any action is brought to enforce, or to construe or determine
the validity of, any term or provision of this Agreement,  the prevailing  party
shall be entitled to reasonable attorney's fees and costs of the action.

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

                     Techsphere Systems International, Inc.

                                    By:__________________________

                                    Title:_________________________

                                Cyber Defense Systems, Inc.

                                    By:___________________________

                                    Title:__________________________

                                       8

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