Document:

Exhibit 10.14

 

 

 

 

License
and Development Agreement

“Agreement”

 

between

 

NLS-1
Pharma AG

Alter
Postplatz 2

6370
Stans

	Switzerland	“Licensor”
    / “NLS”

 

 

 

and

 

 

 

Eurofarma
Laboratórios S.A. 

Avenida Vereador José Diniz 3465

04603-003 São Paulo

	Brazil	“Licensee”
    / “Eurofarma”

 

 

 

(Licensor
and Licensee each a ʺPartyʺ

collectively
the ʺPartiesʺ)

 

 

 

regarding

Nolazol®
(Mazindol CR) in ADHD – Latin America

 

     

    	 	License and Development Agreement

    

 

Table
of Content

 

	WHEREAS	1
	1.	Definitions	1
	2.	Grant of License	4
	 	2.1.	Grant of rights	4
	 	2.2.	Restrictions	4
	3.	License Fees and Milestone Payments	5
	 	3.1.	Upfront Payment	5
	 	3.2.	Milestone payments	5
	 	3.3.	Royalties	6
	 	3.4.	Reports	6
	 	3.5.	Records and Audits	6
	 	3.6.	Payment Terms	7
	4.	Business Plan	7
	5.	Development Work	8
	6.	Further Development Work	8
	7.	Brand Name and Trademarks	9
	8.	Labelling and Packaging	9
	9.	Regulatory Obligations and Procedures	10
	 	9.1.	Regulatory Obligations and Procedures in General	10
	 	9.2.	Notifications	10
	 	9.3.	Regulatory Obligations of Licensee	10
	 	9.4.	Regulatory Obligations of Licensor	10
	 	9.5.	Pharmacovigilance	11
	10.	Cooperation and Joint Project Steering
    Committee	11
	 	10.1.	Cooperation	11
	 	10.2.	Transfer of Know-how	11
	 	10.3.	Joint Steering Committee	12
	11.	Commercialization	12
	12.	Supply	13
	13.	Property rights to Intellectual
    Property	13
	14.	Prosecution of Infringements of
    Intellectual Property	13
	 	14.1.	Notice	13
	 	14.2.	Action	13
	 	14.3.	Information	14
	15.	Representations and Warranties	14
	 	15.1.	Licensor Representations and Warranties	14
	 	15.2.	Licensee Representations and Warranties	14
	 	15.3.	Other Representations and Warranties	15
	16.	Liability and Limitations	15
	17.	Indemnities	16
	 	17.1.	Indemnities by the Licensor	16
	 	17.2.	Indemnities by the Licensee	16
	 	17.3.	Third party claims	16
	18.	Confidentiality	17
	 	18.1.	Confidentiality Obligations	17
	 	18.2.	Exceptions to Obligations	17
	 	18.3.	Survival of Confidentiality Obligations	18

 

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    	 	License and Development Agreement

    

 

	19.	Term and Termination	18
	 	19.1.	Term	18
	 	19.2.	Termination for Change of Control	18
	 	19.3.	Termination for Bankruptcy, Liquidation and
    similar proceedings	18
	 	19.4.	Early Termination for Material Breach	18
	 	19.5.	Early Termination by the Licensor	19
	 	19.6.	Early Termination by the Licensee	19
	 	19.7.	Consequences of Expiration or Termination	20
	20.	General Provisions	20
	 	20.1.	Amendments	20
	 	20.2.	Notices	20
	 	20.3.	Severability / Good Faith	20
	 	20.4.	No Waiver	21
	 	20.5.	No Assignment	21
	 	20.6.	Appendices	21
	 	20.7.	Public Announcements	21
	21.	Governing Law and Jurisdiction	21
	Table of Appendices	23
	Appendix A – [Template for Licensee
    Reports]	24
	Appendix B – Preliminary Business
    Plan	25
	Appendix
    C*– Purpose of the JSC pre and post MA	 

 

* No such appendix completed by the parties.

 

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    	 	License and Development Agreement

    

 

WHEREAS

 

		A.	NLS
carries on the business of researching, developing and manufacturing certain pharmaceutical products and is the legal and beneficial
owner of certain Intellectual Property, including Patents, Know-how and other materials (all words with capital letters are defined
below);

 

		B.	Eurofarma
is a pharmaceutical company with expertise in researching, developing, manufacturing, marketing and sales of pharmaceutical
products, including products in the Field, and has a distribution network throughout Latin America;

 

		C.	Eurofarma
wishes to receive an exclusive license from NLS to register, import, export, store, handle, commercialize, have commercialized,
promote, have promoted, distribute, have distributed, sell and have sold the Licensed Product in the Territory, and NLS wishes
to grant a respective license on the terms and conditions set out in this Agreement;

 

		D.	The
Parties acknowledge that further development of the Products will be necessary to develop the required Dossier as defined hereunder
for obtaining Marketing Authorisation(s) in the Territory and wish to collaborate on the further development of the Products.

 

NOW,
THEREFORE, the Parties agree as follows:

 

		1.	Definitions

 

When
used in this Agreement in capital letters, the terms and abbreviations set forth below, whether used in the singular or plural,
shall have the following meaning:

 

	 	Affiliates	 	means
    any company, enterprise, corporation or business entity which controls, is controlled by, or is under common control with,
    either the Licensor or Licensee. For this purpose, “control” shall mean the possession, directly or indirectly,
    of the power to direct or cause the direction of the management and policies of an entity, whether through holding a majority
    of the voting rights of the entity, by contract or otherwise.
	 	 	 	 
	 	Agreement	 	shall mean this
    Agreement, including all of its Appendices.
	 	 	 	 
	 	Appendix	 	shall mean any
    appendix to this Agreement.
	 	 	 	 
	 	Article	 	shall mean an article
    of this Agreement.
	 	 	 	 
	 	Change of Control	 	shall
    mean any merger, consolidation or acquisition of a Party with, by or into another corporation, entity or person; or any change
    in the ownership of more than fifty percent (50%) of the voting capital stock or actual control over the voting rights in
    one or more related transactions.
	 	 	 	 
	 	Confidential Information	 	shall have the
    meaning set forth in Article 18.
	 	 	 	 
	 	Developed
    Intellectual Property	 	shall
    mean any and all changes, additional Know-how, improvements and inventions relating to the Intellectual Property (such as,
    without limitation, method of use patents) made after the Effective Date of this Agreement.

 

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	 	Distributor	 	shall
    mean a company appointed by Licensee and agreed by Licensor in a country of the Territory for the import, selling, promotion
    and distribution of the Licensed Product in such country of the Territory.
	 	 	 	 
	 	Dossier	 	shall
    mean the registration file for the Licensed Product (which will be developed based on the Know-how and the Intellectual Property
    Rights) including any data, studies, documents, reports, correspondence with regulatory authorities, approvals and information
    that is necessary for obtaining and maintaining one or several Marketing Authorizations in the Territory.
	 	 	 	 
	 	Effective Date	 	shall
    be the date of the last signature on the last page of this Agreement.
	 	 	 	 
	 	Field	 	shall
    mean the diagnosis, prevention, and treatment of DSM-V Attention Deficit and Hyperactivity Disorder (ADHD) in children,
    adolescents and adult populations.
	 	 	 	 
	 	Indemnified Party	 	shall have the
    meaning set forth in Article 17.3.
	 	 	 	 
	 	Intellectual Property	 	shall mean Intellectual
    Property Rights and Know-how.
	 	 	 	 
	 	Intellectual
    Property Rights	 	shall
    mean with respect to the Licensed Product (as defined hereunder) any and all patents, copyright (including software), rights
    under data exclusivity laws, property rights in biological or chemical materials, names, trademarks, extension of the terms
    of any such rights (including supplementary protection certificates), applications for and the right to apply for any of
    the foregoing registered property rights, and similar or analogous rights anywhere in the world.
	 	 	 	 
	 	Joint
    Steering Committee / JSC	 	shall have the
    meaning set forth in Article 10.3 of this Agreement.
	 	 	 	 
	 	Know-how	 	shall
    mean with respect to the Licensed Product (as defined hereunder), all materials, laboratory, pre-clinical and clinical data,
    knowhow, trade secrets and all other scientific, technical, including manufacturing or regulatory information, patentable
    or otherwise, developed, applied or acquired by NLS which relates to the identification, characterization, expression, synthesis,
    use, or production of the Licensed Product and which is reasonably useful or necessary to research, develop, use, make,
    have made, import, distribute, offer for sale, and/or sell the Product.
	 	 	 	 
	 	Launch	 	shall
    mean the first commercial sale of a Licensed Product in a country of the Territory by the Licensee or an Affiliate of the
    Licensee or by a Distributor engaged by Licensee.
	 	 	 	 
	 	Lead Countries	 	Brazil, Mexico
    and Argentina.
	 	 	 	 
	 	License	 	shall have the
    meaning set forth in Article 2.1 of this Agreement.

 

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    	 	License and Development Agreement

    

 

	 	Licensed
    Product	 	Any
    and all products that are manufactured, sold, or otherwise supplied by the Licensee (including any Affiliate or Distributor
    of the Licensee) and which incorporate, or their development makes use of, any Intellectual Property or Developed Intellectual
    Property.
	 	 	 	 
	 	Licensee Know-how	 	shall
    mean with respect to the Licensed Product (as defined hereunder) all know-how, trade secrets and scientific, technical,
    including manufacturing or regulatory information, developed, applied or acquired by Eurofarma which relates to the identification,
    characterization, expression, synthesis, use, or production of the Licensed Product and which is reasonably useful or
    necessary to research, develop, use, make, have made, import, distribute, offer for sale, and/or sell the Licensed Product.
	 	 	 	 
	 	Losses	 	shall have the
    meaning set forth in Article 17.1 of this Agreement.
	 	 	 	 
	 	Marketing
    Authorisation / MA	 	in
    relation to the Licensed Product, shall mean those approvals necessary from one or more competent authorities in the Territory
    for manufacturing, importing, marketing, distributing, offering for sale and/or selling the Licensed Product in one or several
    countries of the Territory.
	 	 	 	 
	 	Net Sales	 	means
                                                                              the total of the gross invoice prices of Licensed Products sold or leased by the Licensee, an Affiliate, a Distributor, or
                                                                              any combination thereof, less the sum of the following actual and customary deductions where applicable and separately
                                                                              listed: cash, trade, or quantity discounts; sales, use, tariff, import/export duties or other excise taxes imposed on
                                                                              particular sales (in particular value-added tax); transportation charges; or credits to customers because of rejections or
                                                                              returns. For purposes of calculating Net Sales, transfers to an Affiliate or to a Distributor of Licensed Product under this
                                                                              Agreement for (i) end use (but not resale) by the Affiliate shall be treated as sales by Licensee at the list price of the
                                                                              Licensee in an arm-length transaction, or (ii) resale by an Affiliate shall be treated as sales at the list price of the
                                                                              Affiliate.

	 	 	 	 
	 	Patents	 	shall
                                                                              mean Brazilian Patent Application No. BR 11 2018 068143 filed on September 6, 2018, and Mexican Patent Application No.
                                                                              MX/a/2018/010864 filed on September 7, 2018, covering multi-layered formulation of Mazindol, including all provisional
                                                                              applications, continuations, divisions, extensions, re-examinations, certificates, reissues and Supplementary Protection
                                                                              Certificates.

	 	 	 	 
	 	Phase III Clinical
    Trial	 	shall
    mean a controlled clinical study of mazindol CR that aims to establish the therapeutic benefit and safety of mazindol CR
    in the Field in a larger patient sample in a manner sufficient to be included in the Dossier and obtain one or several Marketing
    Authorisations to market such Licensed Product in the Territory.

 

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	 	Report(s)	 	shall
    have the meaning set forth in Article 3.4.
	 	 	 	 
	 	Royalty / Royalties	 	shall
    have the meaning set forth in Article 3.3.
	 	 	 	 
	 	Territory	 	The countries
    of Latin America
	 	 	 	 
	 	Trademarks	 	shall have the
    meaning set forth in Article 7.

 

		2.	Grant
of License

 

		2.1.	Grant
of rights

 

Subject
to the conditions and limitations set forth in this Agreement, the Licensor hereby grants to the Licensee, and the Licensee hereby
accepts, (i) an exclusive, fee-bearing, non-transferable distribution right of the Licensed Product in the Territory during the
Term (the “Distribution”), (ii) an exclusive, royalty-free, non-transferable license to the Licensor’s
Patents and Trademarks to register, import, export, store, handle, commercialize, have commercialized, promote, have promoted,
distribute, have distributed, sell and have sold the Licensed Product during the Term, without the right to sublicense (the
“License”), and (iii) an exclusive, royalty-bearing, non-transferable license to the Intellectual Property (except
Patents and Trademarks ) and the Developed Intellectual Property and a right to obtain the technology transfer of the Know-How
to manufacture the Licensed Product in the Territory during the Term, pursuant to the conditions set forth in Article 2.3 below
and elsewhere in this Agreement (the “Technology Transfer”), all to register, import, export, store, handle,
commercialize, have commercialized, promote, have promoted, distribute, have distributed, manufacture, have manufactured, sell
and have sold the Licensed Product during the Term, without the right to sublicense.

 

		2.2.	Restrictions

 

Licensee
may extend the rights granted herein to register, import, export, store, handle, commercialize, promote, distribute and sell
to its Affiliates and to its Distributors, provided that Licensee shall first provide to Licensor a written assurance from each
of such Affiliate or Distributor to agree to be bound by, and to strictly comply with, all applicable terms, conditions, and obligations
in this Agreement towards Licensor.

 

Licensee
shall not be entitled to assign the License or any of its rights under this Agreement or to grant any sub-licenses.

 

		2.3.	Technology
Transfer

 

After
Licensor and Licensee have agreed to move forward to the Technology Transfer phase, the Parties will execute a separate Technology
Transfer Agreement, which shall be at arms-length basis and pursuant to the conditions herein. For that purpose, Licensor hereby
undertakes to transfer to Licensee all Know-how in order to enable Licensee to implement it in its plant to register, import,
export, store, handle, commercialize, have commercialized, promote, have promoted, distribute, have distributed, manufacture,
have manufactured, sell and have sold the Licensed Product during the Term.

 

Licensee
undertake to use the transferred Know-how solely for the purposes and limits provided in this Agreement. For the avoidance of
any doubt, the Know-how does not include Licensee Know-how Licensor shall render to Licensee all technical assistance necessary
to enable Licensee to fully implement the Technology Transfer phase in Licensee’s premises. The royalties provided in this
Agreement already includes such technical assistance, unless the Parties otherwise mutually and in good-faith agree. In such case,
the Parties will provide in separate agreement the additional conditions for the Technology Transfer, which shall be at arms-length
basis.

 

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		3.	License
Fees and Milestone Payments

 

		3.1.	Upfront
Payment

 

Upon
signature of this Agreement and no later than 20 days following it, Eurofarma shall pay to NLS, for the rights pursuant to Article
2.1(i), the non-refundable and non-deductible sum of USD 2’500’000 (in words: US dollars two and a half million).

 

		3.2.	Milestone
payments

 

Upon
achievement of each of the milestone events set out below, Eurofarma shall pay to NLS the non-refundable and non-deductible amounts
set out below next to such milestone event:

 

		3.2.1.	Clinical
Milestones

 

	Upon successful completion by NLS in the US of the Phase III Clinical Trial for the
    treatment of ADHD in adults
 (successful completion meaning reaching the primary endpoints of the respective study)	 	USD 	 500’000	 
	Upon successful completion by NLS in the US of the last Phase III Clinical Trial for the
    treatment of ADHD in children
 (successful completion meaning reaching the primary endpoints of the respective study)	 	USD	 500’000	 

 

		3.2.2.	Regulatory
Milestones

 

	Upon price approval of the Licensed Product in  Brazil by the relevant agency	 	USD 	 1’000’000	 
	Upon receipt of a MA by the relevant agency of the Licensed Product in any other country in the Territory	 	USD	 1’000’000	 

 

		3.2.3.	Sales
                                         Milestones (single payments)

 

	Upon reaching annual Net Sales of USD 10 million	 	USD 	 1’000’000	 
	Upon reaching annual Net Sales of USD 50 million	 	USD	 2’000’000	 
	Upon reaching annual Net Sales of USD 75 million	 	USD	 4’000’000	 
	Upon reaching annual Net Sales of USD 100 million	 	USD	 6’000’000	 

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    	 	License and Development Agreement

    

 

		3.3.	Royalties

 

For
the Technology Transfer and as applicable for the License granted by NLS to Eurofarma under article 2.1(iii) hereabove, Eurofarma
shall pay to NLS royalty payments (the “Royalties”) on the annual Net Sales in the Territory according to the following
table:

 

	Annual Net Sales in the Territory in USD:	 	Royalty in Percent of Net Sales	 
	under 10 million	 	 	7	%
	10 million to < 20 million	 	 	8	%
	20 million to < 30 million	 	 	9	%
	30 million and above	 	 	10	%

 

Royalty
payments shall be paid quarterly within thirty (45) days following the close of the calendar quarter.

 

		3.4.	Reports

 

After
the first commercial sale of a Licensed Product anywhere in the Territory, Eurofarma shall submit to Licensor quarterly reports
on or before 15 days after the last business day of the month following each quarter of the year, and this for each year. Each
report (the “Reports”) shall cover Eurofarma’s (and each Affiliate’s, unless the Parties agree that such Affiliates
shall submit its reports directly to Licensor) and Distributors’ last recently completed quarter and shall show:

 

		(i)	the
gross sales and Net Sales during the last recently completed quarterly period and the Royalties, in USD, payable with respect
thereto;

 

		(ii)	the
number of the Licensed Products sold in each country of the Territory;

 

		(iii)	the
                                         method used to calculate the Royalties; and

 

		(iv)	the
                                         exchange rates used to convert the country currency to USD, as applicable.

 

The
Licensee shall provide the above information using the form as shown in Appendix A and include information on the date of the
first commercial sale of the Licensed Product in each country.

 

If
no sales of Licensed Product have been made by the Licensee during a reporting period, Licensee shall report such information
in the corresponding Report(s).

 

		3.5.	Records
and Audits

 

The
Licensee shall keep, and shall require its Affiliates and Distributors to keep, accurate and correct records of the Licensed Product
used and sold under this Agreement. Such records shall be retained by the Licensee for ten (10) years following a given reporting
period.

 

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    	 	License and Development Agreement

    

 

Subject
to a written advance notice of thirty (30) calendar days, all relevant records supporting the preparation of the Reports shall
be made available during normal business hours for inspection at the expense of Licensor by Licensor or by a selected representative
of Licensor for the sole purpose of verifying the Reports and the accuracy of the payments made or due to Licensor under this
Agreement. Such inspector shall not request any other documents or information other than these related to this purpose as determined
in its sole discretion and the Licensee shall have no obligation to provide the inspector or Licensor any documents or information
not related thereto.

 

In
the event that any such inspection shows an underreporting and underpayment by the Licensee to Licensor under the terms of this
Agreement in excess of one percent (1%) for any twelve-month (12-month) period, then Licensee shall pay the cost of the audit
as well as any additional sum that would have been payable to Licensor had the Licensee reported correctly, plus an interest charge
at a rate of ten percent (10%) per year. Such interest shall be calculated from the date the correct payment was due to Licensor
up to the date when such payment is actually made by the Licensee. For underpayment not in excess of one percent (1%) for any
twelve-month (12-month) period, the Licensee shall pay the difference within thirty (30) days without having to pay for the inspection
cost but with interest charge calculated as per the provisions of this Article.

 

		3.6.	Payment
Terms

 

All
payments due to the Licensor according to this Agreement shall be in US dollar, unless the Parties mutually agree otherwise.

 

All
payments are exclusive of VAT and other applicable taxes. Royalties earned on Net Sales shall not be reduced by the Licensee for
any taxes, fees, or other charges imposed by the government of any country on the payment of royalty income, except that all payments
made by Licensee in fulfilment of the Licensors’ tax liability in any particular country may be credited against earned Royalties
or fees due to the Licensor for that country. The Licensee shall pay all bank charges resulting from the transfer of such Royalty
payments.

 

Except
for article 3.1 hereabove, payments shall be made by wire transfer to the bank nominated by Licensor, in maximum 45 days after
the issuance by NLS of the corresponding invoices,

 

In
the event any payment due under this Agreement is not made at the agreed term and/or for the corresponding full amount, a late
payment charge of ten percent (10 %) p.a. is due, calculated on a pro-rata basis of the number of days between the date at which
the outstanding amount was due for payment to Licensor and the date is actually paid.

 

For
the payments under Article 2.1(iii) above, referred to in Article 3.3, Licensor understands that any such payments may only be
remitted by Licensee after this (or a corresponding) Agreement has been recorded by the Brazilian Patent and Trademark Office
(“INPI”) and registered by the Brazilian Central Bank (“Bacen”), as required by Brazilian law.

 

		4.	Business
Plan

 

Prior
to the signing of this Agreement, Eurofarma has prepared and presented to NLS a high-level business plan, focusing on the Lead
Countries (the “Preliminary Business Plan” as per Appendix B).

 

Following
the signing of this Agreement and prior to the Launch in each of the Lead Countries, and in any other countries of the Territories
as applicable, Eurofarma shall present to NLS its business plan in such countries (the “Business Plan”) consistent
with commercially reasonable efforts to launch and market the Licensed Product in such countries of the Territory and consistent
with the Preliminary Business Plan.

 

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Eurofarma
shall use reasonable commercial efforts to comply with the sales set out in the Preliminary Business Plan, and the Business Plan
may be updated annually by Eurofarma based on updates on the clinical development timelines, market and economic changes and results
from clinical trials, which shall be mutually accepted and agreed between the Parties. Except for critical changes in the assumptions
considered in the Preliminary Business Plan, the sales shall not vary substantially.

 

		5.	Development
Work

 

The
Parties acknowledge and agree that development work will need to be carried out in the US in order to seek a Marketing Authorization
of mazindol CR for use in the Field in the United States (the “Development Work”).

 

The
Development Work will in particular consist of, but not be limited to:

 

		a.	the
design, conduct and execution of pre-clinical studies and Phase I Clinical Trial for the End of Phase II Meeting by NLS as the
sponsor (the “US Sponsor”) in the US in accordance with the guidance and requests from the US FDA;

 

		b.	the
design, conduct and execution of Phase III Clinical Trials by the US Sponsor in the US in accordance with the guidance and requests
from the US FDA;

 

		c.	the
development of the registration dossier which shall be submitted by NLS to the FDA to seek a marketing authorization of Nolazol®
(mazindol CR) for the treatment of ADHD in the US (the “FDA Dossier”).

 

The
Parties further acknowledge and agree that:

 

		i.	such
Development Work shall be carried out by NLS under its sole responsibility and its sole discretion as the US Sponsor;

 

		ii.	NLS
shall bear the costs of the Development Work it carries out in the US for the purpose of filing an NDA and seeking a marketing
authorization in the US;

 

		iii.	NLS
shall share with Eurofarma the final reports of the planned studies in the Development Work as soon as available which shall be
only used by Eurofarma for the Dossier and for no other purposes. Such reports constitute Developed Intellectual Property and
are the sole property and Confidential Information of Licensor.

 

		6.	Further
Development Work

 

The
Parties acknowledge and agree that further development work on the Licensed Product may have to be carried out in order to seek
and obtain MA of the Licensed Product in certain of the countries of the Territory (the “Further Development Work”).

 

The
Parties acknowledge and agree that:

 

		i)	NLS
shall have sole responsibility and control of such Further Development Work, irrespective of whether it is carried by NLS as sponsor,
or delegated by NLS to Eurofarma in any countries of the Territory or to any other 3rd party at NLS sole discretion

 

		ii)	Eurofarma
shall provide at its own costs timely input to NLS on the specific data and information not planned by NLS to be included in the
FDA Dossier which are to be requested by the regulatory authorities of any of the Lead Countries to seek a MA in the Lead Countries
(the “US Supplemental Data”);

 

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		iii)	NLS
                                         shall use commercially reasonable efforts to generate the US Supplemental Data at a shared
                                         cost between the Parties which shall be made available to Eurofarma for inclusion in
                                         the registration dossiers filed by Eurofarma to seek a MA;

 

		iv)	If
                                         the regulatory authorities of any countries of the Territory request specific data to
                                         be generated locally in subjects of such countries in order to seek a MA, Eurofarma shall
                                         solely bear the respective costs of the studies needed to generate such data (the “Local
                                         Supplemental Data”);

 

		v)	Eurofarma
                                         shall be responsible for the preparation and submission of the registration dossiers
                                         in the Lead Countries and in the other countries of the Territory seeking to obtain a
                                         MA in such countries;

 

		vi)	Eurofarma
                                         shall be the responsible Party for the discussions with the regulatory health authorities
                                         or with the other relevant authorities of such countries of the Territory involved in
                                         the MA process;

 

		vii)	any
                                         intellectual property, know-how, trade secrets, data, processes whether patentable or
                                         not which may arise from the Further Development Work and the Supplemental Data shall
                                         be solely owned by NLS and shall fall under NLS Intellectual Property Rights and any
                                         other rights as the case maybe, except any information that is or becomes public (non-confidential)
                                         other than as a direct or indirect result of a disclosure by Licensee or any of its representatives.
                                         Licensee Knowhow shall belong to Licensee;

 

		viii)	as
                                         set forth in Article 10.3 below a Joint Steering Committee shall be set-up. The JSC shall
                                         solely have an advisory role to the Parties. NLS shall retain final responsibility for
                                         the design, conduct and execution of the Development Work and Further Development Work.

 

		7.	Brand
Name and Trademarks

 

The
brand name for the Licensed Product in the Territory shall be Nolazol® (Brazilian trademark application No. 916475913 and
in Mexico and elsewhere in the Territory to be provided by Licensor, collectively referred to as “Trademark”) and
may be modified by another name chosen and solely owned by the Licensor, subject to such modified name being communicated to Licensee
no later than 6 months before the market launch of the License Product in Brazil. The Licensor shall be free to select and register
any names and trademarks for the Licensed Product at its sole discretion. Such trademarks and names shall be prepared and owned
by the Licensor at its expense. The Licensor shall bear all costs associated with the use of such trademarks and names.

 

During
the entire validity of this Agreement, Licensor hereby grants to License an exclusive and royaltyfree right to use the Trademark
in the Territory. During any sell-off period the license shall be non-exclusive.

 

		8.	Labelling
and Packaging

 

Licensee
shall at its own expense create the labelling, localized product information and packaging for the Licensed Product. Licensor
and Licensee shall cooperate in order to obtain the necessary regulatory and governmental approvals for such labelling and packaging.

 

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		9.	Regulatory
Obligations and Procedures

 

		9.1.	Regulatory
Obligations and Procedures in General

 

The
Parties acknowledge that Marketing Authorisation(s) for the Licensed Product will have to be obtained for the purpose of this
Agreement. The Parties will mutually agree on the regulatory pathway(s) to be used through the Joint Steering Committee.

 

		9.2.	Notifications

 

Each
of the Parties shall promptly notify the other party in writing of any technical or clinical advances, useful modifications,
side effects or new government regulations relating to the Licensed Product that shall come to its knowledge.

 

		9.3.	Regulatory
Obligations of Licensee

 

		(i)	Eurofarma
shall own the MAs pertaining to the commercialization of the Licensed Product in the Field in the Territory during the term of
this Agreement or until its termination prior to its term as set forth in Articles 19.2 to 19.6. Upon expiration or termination,
Eurofarma shall i) immediately transfer the MAs to the Licensor or to any other party designated by the Licensor and return all
relevant documents prepared or submitted that are related to the MAs, including those documents, data or information generated
post MA filings, in maximum 30 days after the notification of termination; if the Licensor does not decide and inform within this
period to whom the MAs and documents shall be transferred, then the Licensee shall have no obligation to keep them actives ii)
shall forfeit its ownership of the MAs in any and all of the countries of the Territory and with other regulatory agencies, without
any form of compensation except for the compensation under the conditions set forth in Article 19.2 below and, iii) shall have
no further claims of ownership and nor any other claims related to the MAs.

 

		(ii)	Eurofarma
shall solely bear the costs related to the required regulatory procedures and for the MA and the MA application, grant, maintenance,
update, variation, defence and renewal, as the case may be, in the Territory throughout the term of this Agreement.

 

		(iii)	In
advance of their use and/or submission, Eurofarma shall furnish NLS with copies of all material correspondence to be sent to the
competent regulatory authorities in the Territory, and all MA applications which are prepared for the Licensed Product. NLS shall
have the right to comment and Eurofarma must comply with the requested changes by the NLS, provided that any such comments and/or
changes are in compliance with the rules of the local and competent regulatory agencies.

 

		(iv)	Subject
to NLS prior written approval which may be granted at its own discretion and for its own reasons, Eurofarma may conduct certain
work pre MA approval or post MA approval and in that case Eurofarma agrees to share with NLS any data from laboratory, preclinical,
clinical, chemistry, manufacturing and control studies conducted in support of its regulatory filings for the development, approval,
and marketing of the Licensed Product and after its marketing approval as the case may be, should Eurofarma conduct any such work
on its own. Any contribution of NLS to the costs of such work (that do not fall under 9.3 (ii)) (including, without limitation,
translation of documents) shall be the exclusive responsibility of NLS.

 

		9.4.	Regulatory
Obligations of Licensor

 

Licensor
shall take all reasonable actions and render all reasonable assistance to help Licensee obtain and maintain the MA which are reasonably
requested by the Licensee or required by the competent authorities in line with local requirements and/or necessary to avoid the
imposition of any restriction or condition under the MA by the competent authorities.

 

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    	 	License and Development Agreement

    

 

Licensor
shall provide the Licensee the Dossier, any updates and variations to the Dossier (such as monograph, method updates or stability
data, new manufacturer or API supplier) without undue delay when such additional data is available to the Licensor. In any event,
Licensor understands and agrees that any variations and/or updates shall only be implemented by Licensee once this is permissible
according to applicable regulatory provisions. In case the corresponding regulatory agency requests any information on any updates
and/or variations requested by NLS, the responsibility to provide such information shall be of NLS, and NLS shall be bound to
any deadlines and other requirements posed by the regulatory agency.

 

		9.5.	Pharmacovigilance

 

The
Parties acknowledge that they may be required to submit adverse drug experience reports and supplemental information to governmental
agencies with respect to the Products.

 

Eurofarma
shall assume full responsibility for all post MA approval Pharmacovigilance activities in the Territory Each Party has the right
to receive in good faith all the safety documents referring to the product filed by the other Party to regulatory authorities
including PSURs (Periodic Safety Update Report), PBRER (Periodic Benefit Risk Evaluation Report), RMP (Risk Management plans),
but not limited to only these.

 

Further,
each Party agrees to report to the other Party any serious and unexpected adverse reaction with the use of mazindol CR in
the Field within two business days of the initial receipt of a report or sooner if required for either Party to comply with
regulatory requirements; and the Parties agree that the Licensee shall immediately report and notify in writing to NLS any
adverse or suspected safety adverse events whether related or not to the Licensed Product (the “SAE’s”
and the “SUSAR’s”). Parties shall then immediately set a Pharmacovigilance meeting or conference call to
review such case and decide on course of action, in full compliance with their obligations under relevant laws and
guidelines.

 

Prior
to the first commercial sale of the Licensed Product in the Territory, the Parties will negotiate and enter into a Safety Data
Exchange Agreement further specifying the mutual obligations of the parties related to pharmacovigilance, to the extent that they
deem this to be required under GCP’s, applicable laws or other regulatory obligations, necessary or useful.

 

		10.	Cooperation
and Joint Project Steering Committee

 

		10.1.	Cooperation

 

The
parties agree to cooperate in good faith with regard to all issues pertaining to the development of US Supplemental Data and Local
Supplemental Data, to regulatory matters concerning the Licensed Product in any countries of the Territories, and the pre-marketing
and commercial activities of the Licensed Products in countries of the Territories, as necessary and applicable.

 

		10.2.	Transfer
of Know-how

 

Each
Party shall, at the other Party’s request, transfer to the other Party any and all Know-how relating to each Licensed Product
that the other Party reasonably needs in order to perform its obligations or exploit its rights under this Agreement. Each Party
shall use such Know-how solely for the purpose of performing its obligations or exploiting its rights under this Agreement.

 

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    	 	License and Development Agreement

    

 

		10.3.	Joint Steering Committee

 

Within 60 business days following
the execution of this Agreement, the Parties shall set-up a joint project steering committee (the “Joint Steering Committee”
or “JSC”), by each Party designating its initial members to serve on the Joint Steering Committee and notifying
the other Party of its dates of availability for the first meeting of the Joint Steering Committee.

 

The Joint Steering Committee shall
be composed of senior members or representatives of NLS and Eurofarma with relevant competences in clinical development, regulatory,
marketing and commercial matters and shall consist of an equal number of members appointed by each Party. The Parties will discuss
und agree on the appropriate number of members. Each Party may change its members from time to time.

 

The purpose of the Joint Steering
Committee, by sharing the respective competences and experiences of the Parties shall be to as detailed below:

 

		i)	facilitate the preparation of the Dossiers, identify data which may be necessary to be generated
for the filings of the MA applications by the Licensee, in particular in the Lead Countries

 

		ii)	agree on respective activities and responsibilities of the Parties pre-MA and post MA, in particular regarding regulatory, safety and clinical development matters pre-MA, label changes and other post MA matters

 

		iii)	align the Parties on pricing strategy, sales, marketing and communication plans related to the
Licensed Product,

 

		iv)	annually review the performance of the Licensed Product in the Lead Countries, and other countries
as applicable, against the Business Plan and propose measures to improve performance as relevant and applicable; The Business
Plan shall provide sufficient details to enable an accurate assessment of the Licensed Product performance and of the resources
allocated by Licensee to support its commercialization.

 

The Joint Steering Committee shall
meet a minimum of four times per calendar year at least once in person and otherwise by video- or telephone conference.

 

The JSC shall solely have an advisory
role to the Parties.

 

Notwithstanding the above, in the
event of a disagreement between the Parties on pricing strategy or on any other issues deemed material by one Party (the “Dispute”),
the Dispute shall be escalated to the respective CEO’s of the Parties within 30 days following its written notification
by the relevant Party to the other Party.

 

The content of Licensee’s
public communications on NLS, including its strategies, objectives, plans, management team, board of directors, shareholders, finances,
product portfolio, intellectual property rights and patents, on the Licensed Product, its revenue and share potential, data, brand
and any forward-looking statements claims shall be pre-approved by NLS.

 

		11.	Commercialization

 

Subject to Article 10.3 above,
Eurofarma shall be in charge and solely responsible for any pre-marketing, marketing, selling, warehousing, handling, distributing
and all other commercial activities in relation to the Licensed Product in the countries of the Territory and these activities
shall be determined by Eurofarma at its sole discretion and expenses, provided that Eurofarma shall use commercially reasonable
efforts to commercialize the Licensed Product in the Lead Countries as a priority and in the other countries of the Territory.

 

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    	 	License and Development Agreement

    

 

The Licensee shall use best commercial
efforts to make the first commercial sale of the Licensed Product in the Territory within twelve (12) months after receipt of marketing
authorization in a given country of the Territory.

 

		12.	Supply

 

NLS will supply Eurofarma with the finished
Licensed Product based on its COGS. The Parties will enter in due time into a separate manufacturing and supply agreement concerning
the Licensed Product, with the possibility of tech-transfer during the term of the Agreement.

 

		13.	Property rights to Intellectual Property

 

Both Parties acknowledge that all Intellectual
Property existing at the Effective Date shall be and remain the sole property of the Licensor.

 

All right, title and interest in and to
any Developed Intellectual Property shall vest in and belong to the Licensor. The Licensee shall execute and deliver all reasonably
necessary signatures and/or documents and take any further steps (or have his employees, agents and officers do the same) to the
extent necessary to make any Developed Intellectual Property the sole property of the Licensor.

 

The Licensee shall have right to use the
Developed Intellectual Property for exploiting its rights granted in this Agreement until its expiration or termination as set
forth in Article 19 hereunder.

 

Licensee Know-how shall belong to the Licensee.
The Licensee hereby grants to the Licensor an irrevocable, non-exclusive, royalty-free, perpetual, worldwide license to use of
any Licensee Know-how.

 

		14.	Prosecution of Infringements of Intellectual Property

 

		14.1.	Notice

 

Either Party shall give notice to the other
Party of any actual or suspected infringement of the Intellectual Property or the Developed Intellectual Property or any unlicensed
activity, misuse or unauthorized disclosure of the same by any third party in the Territory as soon as reasonably practicable following
such Party becoming aware of it.

 

		14.2.	Action

 

In the event of any actual or suspected
third party infringement of the Intellectual Property or the Developed Intellectual Property in the Territory, NLS may take at
its sole discretion any steps (including legal action) to prosecute the infringement. Licensee shall on request support NLS in
all activities which involve the protection of the Intellectual Property and the Developed Intellectual Property and to prosecute
the infringement.

 

From the date of notice of a potential
infringement, NLS shall have 5 (five) days to communicate to Eurofarma whether it will take actions against such potential infringements.
If NLS resolves not to take any such action, the Licensee shall have the right, but not the obligation, to take all activities
and steps to protect the Intellectual Property and the Developed Intellectual Property in the Territory, provided however, that
the Licensee shall not accept pay, settle or compromise any such claim or proceedings without the prior written consent of NLS.

 

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    	 	License and Development Agreement

    

 

		14.3.	Information

 

The Party in charge of the respective prosecution
and legal action shall keep the other Party promptly and fully informed and documented as to the progress of any action.

 

		15.	Representations and Warranties

 

		15.1.	Licensor Representations and Warranties

 

Licensor represents and warrants that each
of the representations and warranties set out below are true and accurate in all respects:

 

		a)	Authority and capacity

 

The Licensor has the right to enter into
this Agreement and any agreement or document referred to herein and perform its obligations hereunder, including granting the
licences under Article 2.

 

		b)	Financial Situation

 

The Licensor has not committed an act of
bankruptcy, proposed a compromise or arrangement to its creditors generally, had any petition in bankruptcy filed against it, filed
a petition or undertaken any action proceeding to be declared bankrupt, to liquidate its assets or to be dissolved.

 

		c)	Intellectual Property

 

To the best of Licensor’s knowledge

 

		(i)	Licensor has good, unrestricted and merchantable title
to the Intellectual Property licensed to the Licensee hereunder;

 

		(ii)	no part of the Intellectual Property licensed to the
Licensee hereunder has been unlawfully copied from third party materials;

 

		(iii)	the use of the Intellectual Property will not infringe
any third party intellectual property rights.

 

		d)	Regulatory Compliance

 

To the best of Licensor’s knowledge
there is no hearing, investigation or audit of any regulatory authority alleging any regulatory potential or actual non-compliance
by Licensor or the Licensed Product under any applicable law or a lack of safety at the Effective Date.

 

		15.2.	Licensee Representations and Warranties

 

Licensee represents and warrants that each
of the representations and warranties set out below are true and accurate in all respects:

 

		a)	Authority and Capacity

 

The Licensee has the right to enter into
this Agreement and any agreement or document referred to herein and to perform its obligations hereunder.

 

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    	 	License and Development Agreement

    

 

		b)	Financial Situation

 

The Licensee is not insolvent and has not
committed an act of bankruptcy, proposed a compromise or arrangement to its creditors generally, had any petition in bankruptcy
filed against it, filed a petition or undertaken any action proceeding to be declared bankrupt, to liquidate its assets or to
be dissolved.

 

		c)	Regulatory Compliance

 

The Licensee is able to obtain and hold
a MA for the Licensed Product under the laws of each country of the Territory and has (or will own at the time of the Launch in
that country) any license required under the applicable law to import, sell and market the Licensed Product in the respective country.

 

		d)	Intellectual Property

 

The Licensee has made all inspections and
investigations of the Intellectual Property deemed necessary and desirable by the Licensee and it has made its own evaluation of
the Intellectual Property, except any evaluation on non-infringement or validity of such rights, which is not the responsibility
of Licensee.

 

		15.3.	Other Representations and Warranties

 

Save of the representations and warranties
given in Article 15.1 the Licensor makes no further representation or warranty, either express, implied or statutory, written or
oral, and any claims, regardless of their legal basis and nature, are, to the fullest extent permissible by law, hereby excluded
(unless such claims arise under the representations and warranties of Licensor) and the Licensee waives any such claim or right
other than in respect of the Representations and Warranties of the Licensor.

 

This exclusion or waiver applies in particular
to:

 

		a)	any projection, forecast, other forward-looking statement
relating to the Licensed Product;

 

		a)	any success, profitability, value, commercial marketability
or competitiveness of any product at the market or its eligibility for reimbursement by any social security institutions, governmental bodies, statutory health insurances and the like;

 

		b)	any expectation or statement made that any future application
for a MA will be granted;

 

		c)	the extent, duration and validity of any MA, e.g. that
any MA will be granted or that a granted MA will not be varied, suspended, revoked, withdrawn or cancelled or otherwise declared
invalid by any competent regulatory authority in the Territory;

 

		d)	the quality, safety or efficacy of any product and other
characteristics of any product;

 

		e)	the presence or absence of any future deficiencies.

 

Accordingly, save as expressly set out
in this Agreement, the Licensee shall not be entitled to terminate this Agreement or exercise any right or remedy which would have
a similar effect, or to claim damages from the Licensor.

 

		16.	Liability and Limitations

 

Either Party shall only be liable for direct
losses incurred by the other Party as a direct consequence of a negligent or intentional breach of this Agreement by such liable
Party, and shall not be liable for any punitive or indirect damages, losses caused by business interruptions, loss of revenues,
loss of profit, damages and loss of goodwill, or any reputational damages, and both Parties waive any claims to such losses.

 

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    	 	License and Development Agreement

    

 

In addition, neither Party shall be liable
for any claim under this Agreement which is capable of remedy, unless and until the other Party has given such Party written notice
containing full details of the breach and such Party has failed to remedy the breach within sixty (60) days of receipt of the notice.

 

		17.	Indemnities

 

		17.1.	Indemnities by the Licensor

 

Without prejudice to any other provision
of this Agreement, the Licensor shall indemnify, defend and hold harmless the Licensee from and against all liabilities, claims,
demands, obligations, fines, penalties, judgements, losses or damages whatsoever (including without limitation, court costs, amounts
paid in settlement and any legal, accounting and other expert fees and expenses reasonably incurred) (collectively “Losses”)
suffered, incurred, sustained by or imposed on the Licensee resulting from or arising out of:

 

		a)	any breach of the representations and warranties made
by the Licensor;

 

		b)	any non-performance or breach of any of the Licensor’s
obligations under this Agreement.

 

		17.2.	Indemnities by the Licensee

 

Without prejudice to any other provision
of this Agreement, Licensee shall indemnify, defend and hold harmless Licensor from and against all Losses suffered, incurred,
sustained by or imposed upon Licensor resulting from or arising out of:

 

		a)	any breach of the representations and warranties made
by the Licensee;

 

		b)	any non-performance or breach of any of the Licensee’s
obligations under this Agreement.

 

		17.3.	Third party claims

 

If any claim is brought against a Party
entitled to the benefit of an indemnity set out in this Agreement (the “Indemnified Party”) by any third party
which is likely to result in a claim against the other Party who has given an indemnity under this Agreement (the “Indemnifying
Party”), the Indemnified Party shall

 

		a)	give notice of such third party claim to the Indemnifying
Party as soon as reasonably practicable in reasonable detail, including a reasonable explanation of why the Indemnified Party
assumes that it is entitled to indemnification under this Agreement;

 

		b)	keep the Indemnifying Party promptly and fully informed
and documented as to the progress of any such claim;

 

		c)	subject to the Indemnified Party being entitled to employ
its own legal advisors take all reasonable steps as to minimise or resolve such liability or dispute and, upon request by the
Indemnifying Party, allow the Indemnifying Party to lead or direct the proceedings;

 

		d)	cooperate with all reasonable requests of the Indemnifying
Party in relation to such claim; and

 

		e)	not accept, pay, settle or compromise any such claim
without the prior written consent of the Indemnifying Party (such consent not to be unreasonably withheld, delayed or conditioned).

 

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    	 	License and Development Agreement

    

 

		18.	Confidentiality

 

		18.1.	Confidentiality Obligations

 

		a)	Confidential Information shall mean any information that
(i) is not publicly known (ii) has been imparted in circumstances in which the recipient ought reasonably to have known that
the information had been imparted in confidence. This includes especially but not exclusively the information described in the
clauses 18.1 b), c) and d).

 

		b)	Each Party undertakes to maintain confidentiality as
regards the execution and terms of this Agreement, and to abstain from disclosing the existence of this Agreement, its contents
and all information provided to it by the other Party in connection with the negotiation of this Agreement without prior written
approval of the other Party.

 

		c)	The Licensee shall maintain confidentiality with regard
to the Dossier and Know-how and any operations, processes, product information, product formulations, information regarding
applications and submissions, know-how, designs, trade secrets, product plans, product development efforts, other commercial and
product data, software, prototypes, samples and/or data sets related thereto, and any information or analysis derived from Confidential
Information. For the avoidance of any doubt, the confidentiality of the Dossier and Know-how shall only apply to information that
at the time of assessment is actually considered to be confidential, and not, under any circumstances, the information that
lawfully is or has become available to the public.

 

		d)	The Licensee shall protect any Know-how and any data
as Confidential Information and shall not use the Know-how and data for any purpose except as expressly licensed hereby and in
accordance with the provisions of this Agreement.

 

Each Party (the “Receiving Party”)
undertakes:

 

		(i.)	to maintain as secret and confidential all Confidential
Information obtained directly or indirectly from the other Party (the “Disclosing Party”) in the course of
this Agreement and to respect the Disclosing Party’s rights therein;

 

		(ii.)	to use such Confidential Information only for the purposes
of this Agreement; and

 

		(iii.)	to disclose such Confidential Information only to those
of its employees, contractors, and sub-licensees pursuant to this Agreement (if any) to whom and to the extent that such disclosure
is reasonably necessary for the purposes of this Agreement.

 

		18.2.	Exceptions to Obligations

 

The provisions of clause 18.1 shall not
apply to Confidential Information that the Receiving Party can demonstrate by reasonable, written evidence;

 

		(i.)	is or has become generally available to the public other
than as a direct or indirect result of a disclosure by the Receiving Party or any of its representatives; or

 

		(ii.)	was, prior to its receipt by the Receiving Party from
the Disclosing Party, in the possession of the Receiving Party and at its free disposal; or

 

		(iii.)	is subsequently disclosed to the Receiving Party without
any obligations of confidence by a Third Party who has not derived it directly or indirectly from the Disclosing Party; or

 

		(iv.)	was or is developed by or on behalf of the Receiving
Party independently of the Disclosing Party’s Confidential Information; or

 

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    	 	License and Development Agreement

    

 

		(v.)	the Receiving Party is required to disclose to the courts
of any competent jurisdiction, or to any government regulatory agency, or financial authority, provided that the Receiving Party
shall (i) inform the Disclosing Party as soon as is reasonably practicable, and (ii) at the Disclosing Party’s request
seek to persuade the court, agency, or authority to have the information treated in a confidential manner, where this is possible
under the court, agency, or authority’s procedures.

 

		18.3.	Survival of Confidentiality Obligations

 

The confidentiality obligations provided
in this Article shall survive any termination or expiry of this Agreement for period of ten (10) years.

 

		19.	Term and Termination

 

		19.1.	Term

 

This Agreement will come into effect on
the Effective Date and shall continue in full force for ten (10) years from the Launch (the “Initial Term”),
or the date of expiry of the last valid patent of the Licensed Product, whichever comes later, subject to clauses 19.2, 19.3, 19.4
and 19.5 hereunder.

 

By mutual agreement of the Parties, the
Initial Term may be extended by successive periods of three (3) years.

 

If any relevant registration is not successfully
reached with regards to any extension of the Agreement, the Parties shall cooperate and negotiate on arm’s length basis
in order to obtain a suitable solution and achieve a proper agreement that enables the Parties to fully comply with the rights,
obligations and commitments herein set forth.

 

		19.2.	Termination for Change of Control

 

In the event of a Change of Control of
the Licensee, the Agreement may be terminated by Licensor with immediate effect without any compensation to Licensee or to any
other parties.

 

In the event of a Change of Control of
the Licensor, the Agreement may be terminated by Licensee. In case of termination of the Agreement, NLS and Eurofarma shall immediately
work on a transition out plan, with activities and timelines agreed by the Parties to ensure a proper handover of the Licensed
Product so that its market position and the obligations to prescribers, patients and regulatory authorities are fulfilled in
accordance with Eurofarma best practices.

 

		19.3.	Termination for Bankruptcy, Liquidation and similar
proceedings

 

This Agreement may be terminated by either
Party, effective upon notice following the expiry of the cure period described hereafter, upon the filing or institution of any
bankruptcy, reorganization, liquidation or receivership proceedings of the other Party, or upon the failure by the other Party
for more than ninety (90) days to discharge or obtain the dismissal of any such actions filed against it. Such termination shall
be effective upon receipt of notice from the affected Party.

 

		19.4.	Early Termination for Material Breach

 

If either of the Parties fails to perform
or violates any material term of this Agreement (the “Breaching Party”), then the other Party (the “Other
Party”) may give written notice of default (“Notice of Default”) to the Breaching Party.

 

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    	 	License and Development Agreement

    

 

If Licensee is the Breaching Party and
fails to cure the default within sixty (60) calendar days upon receipt of the Notice of Default, the Licensor has the right to
terminate this Agreement with immediate effect by written notice (“Notice of Termination”) to the Breaching
Party.

 

If Licensor is the Breaching Party and
fails to cure the default within sixty (60) calendar days upon receipt of the Notice of Default, the Licensee has the right to
terminate this Agreement with immediate effect by written notice (“Notice of Termination”) to the Breaching
Party and shall be paid by Licensor an indemnity corresponding to the fair market value of the expected discounted cash flows of
Licensee over the remaining lifetime of this Agreement.

 

		19.5.	Early Termination by the Licensor

 

The Agreement may be terminated by NLS
according to Article 19.4 in case Eurofarma fails to use commercially reasonable efforts to obtain a MA and to commercialize the
Licensed Product in the Lead Countries, provided that the Supplemental Data, if any, was provided to Eurofarma.

 

If Eurofarma has not made the first commercial
sale within twelve (12) months after receipt of the MA in a Lead Country of the Territory, not for reasons outside of its control,
or if Eurofarma has failed to use reasonable commercial efforts to meet the annual objectives of the most updated Business Plan
during the Term, which may be amended by Eurofarma from time to time and accepted by NLS, then NLS may, upon sixty (60) days
prior written notice to Eurofarma (unless Eurofarma makes such first commercial sale within such sixty-day period), terminate the
rights granted to Eurofarma with respect to the Licensed Product in such country.

 

		19.6.	Early Termination by the Licensee

 

		i)	Eurofarma may terminate the Agreement upon ninety (90)
days prior written notice to NLS in case the US Supplemental Data to support the Dossier for Brazil is not or cannot be provided
by NLS within the time limit agreed by the Parties or cannot be generated as part of the Local Supplemental Data for Brazil.

 

		ii)	Eurofarma may terminate the Agreement in case the activities
conducted by NLS under article 5, paragraphs a), b) and c) do not allow the Licensed Product to be approved by the US FDA.

 

		iii)	Eurofarma may terminate the Agreement in case the Licensed
Product fails to receive a MA from the US FDA or a MA is not granted on the Licensed Product in any of the Lead Countries despite
reasonable commercial efforts by Eurofarma to seek and obtain such MA.

 

		iv).	Eurofarma shall have the right to terminate the Agreement
in case of fundamental changes in the market, competitive and economic conditions, outside of the Parties control, at the time
of the launch of the Licensed Product in the territory which would make its commercialization not economically viable and provided
that the Parties after good faith efforts fail to agree on an alternative plan to address this situation within 3 months following
the notification by Eurofarma to NLS of its decision to terminate the Agreement under this clause.

 

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    	 	License and Development Agreement

    

 

		19.7.	Consequences of Expiration or Termination

 

The expiration or termination of the Agreement
shall have the following consequences:

 

		(i)	The Licensee shall cease to use the License and cease
to conduct any activities that would require the License, unless explicitly stated otherwise in this Article.

 

		(ii)	Licensee or Affiliates or Distributors may sell off all
previously purchased Licensed Products still in their warehouses within a period of six (6) months of the effective date of such
termination (the “Sell-Off Period”) provided that the sale of such Licensed Products by Licensee or Affiliates or
Distributors of the Licensee shall be subject to the terms of this Agreement, including but not limited to the rendering of reports
and payment of royalties required under this Agreement.

 

		(iii)	Promptly upon the request of Licensor, the Licensee shall,
at the Licensor’s sole discretion and election for each country of the Territory and each Licensed Product either withdraw
or transfer all Marketing Authorizations in the Territory to the Licensor (or to a third party as the Licensor directs). Licensee
shall take the required steps without any delay and the withdrawal or transfer shall be completed in maximum 90 days after the
notification of the request; if the Licensor does not decide and inform within this period to whom the Marketing Authorizations
and documents shall be transferred, then the Licensee shall have no obligation to keep them active. If a Marketing Authorization
has been applied for, but not yet been granted in any country of the Territory, the same shall apply to the applicant status.

 

		(iv)	The Licensee shall hand over to the Licensor any and
all documents related to the regulatory status or containing Intellectual Property or Confidential Information of Licensor.

 

		(v)	Termination shall not relieve either Party of its accrued
obligations under this Agreement.

 

		(vi)	With the exception of termination in case of material
breach of its obligations by Licensor according to Article 19.4, upon termination, or early termination by the Licensee according
to Article 19.6, Licensee shall pay Licensor any unpaid sums (fees, milestone payments, royalties, etc.) related to the Agreement.

 

		20.	General Provisions

 

		20.1.	Amendments

 

This Agreement may only be modified or
amended by a document duly signed by all Parties. Any provision contained in this Agreement may only be waived by a document duly
signed by the Party waiving such provision.

 

		20.2.	Notices

 

All notices or other communications to
be given under or in connection with this Agreement shall be made in writing and shall be delivered by registered mail or overnight
courier service to the address that is mentioned on the cover page of this Agreement or subsequently communicated in writing.

 

All notices shall become effective on the
day of their reception by the receiving Party, or if the receiving Party refuses its acceptance or does not collect it from the
competent post office or mail service, on the date of the refusal.

 

		20.3.	Severability / Good Faith

 

Should any part or provision of this Agreement
be held to be invalid by any competent court, governmental or administrative authority having jurisdiction, the other provisions
of this Agreement shall nonetheless remain valid. In this case, the Parties shall endeavour to negotiate a substitute provision
that best reflects the economic intentions of the Parties without being unenforceable, and shall execute all agreements and documents
required in this connection. The same shall apply if and to the extent that this Agreement is found to contain any gaps or omissions.

 

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    	 	License and Development Agreement

    

 

		20.4.	No Waiver

 

The failure of any of the Parties to enforce
any of the provisions of this Agreement or any rights with respect thereto shall in no way be considered as a waiver of such provisions
or rights or in any way affect the validity of this Agreement.

 

		20.5.	No Assignment

 

This Agreement may not be assigned or otherwise
transferred, nor may any right or obligations hereunder be assigned or transferred, by either Party without the prior written consent
of the other Party; provided, however, that Licensor may, without such consent, assign this Agreement and its rights and obligations
hereunder, in whole or in part, to an Affiliate or in connection with the transfer or sale of all or substantially all of its assets
related to the Licensed Product or the business relating thereto, or in the event of its merger or consolidation or change in control
or similar transaction. Licensor shall however refrain from any such permitted assignment if such permitted assignment is reasonably
able to jeopardize Licensee’s business of Licensed Product in the Territory.

 

		20.6.	Appendices

 

All Appendices form an integral part of
this Agreement.

 

		20.7.	Public Announcements

 

No press releases or other public announcement
concerning this Agreement shall be made by either Party unless the form and text of such announcement shall first have been approved
by the other Party, except for any announcements based on reporting duties under applicable laws and regulations or stock exchange
regulations.

 

		21.	Governing Law and Jurisdiction

 

This Agreement shall be governed by and
construed in accordance with the substantive laws of the Netherlands, excluding its rules of conflicts of law and the United Nations
Convention on Contracts for the International Sale of Goods dated 11 April 1980 (CISG), as amended from time to time.

 

All disputes arising out of or in connection
with the present Agreement, including disputes on its conclusion, binding effect, amendment and termination, shall be finally
resolved by binding arbitration in accordance with the Rules of Arbitration of the International Chamber of Commerce (“ICC”)
by one or more arbitrators appointed in accordance with the said rules and experienced in the pharmaceutical business. The place
of Arbitration shall be in The Hague, Netherlands, or in a place otherwise mutually agreeable. The arbitration shall be conducted
in English.

 

    21

    	 	License and Development Agreement

    

 

IN WITNESS WHEREOF, the Parties have caused
this Agreement to be duly executed in two counterparts on the date first written above, whereby each Party shall execute and initialize
one counterpart, each of which when so executed and delivered shall be an original but shall not be effective until each Party
has executed at least one counterpart, but all counterparts shall together constitute one and the same agreement.

  

NLS-1 Pharma AG

 

	/s/ Ronald Hafner	 	/s/ Alex Zwyer
	 	 	 
	Ronald Hafner	 	Alex Zwyer
	 	 	 
	Chairman of the Board	 	CEO & Member of the Board of Directors

 

Date:

 

Eurofarma Laboratórios S.A.

 

	/s/ Julíana Mazza Reîs	 	/s/ Martha Penna
	 	 	 	 	 
	Name:	Julíana Mazza Reîs	 	Name:	Martha Penna
	title:	Eurofarma Laboratórios S.A.	 	title:	Vice Presîdente Inovaçäo 
	 	Díretora de Gestào de PortfólÎo e LÎcenças	 	 	 
	Date: 	 	 	 	 

 

Witnesses:

 

	/s/ Bruno C.Z. Baptista	 	/s/ Walker Lahmann
	Name:	Bruno Castagnoli Zilli Baptista	 	Name: 	Walker Lahmann
	Id.: 	Portfolio Management & Licensing Coordinator	 	Id: 	Executive Director

 

    22

    	 	License and Development Agreement

    

 

Table of Appendices

 

	Number	 	Name
	 	 	 
	Appendix A	 	[Template for Licensee Reports]
	 	 	 
	Appendix B	 	Preliminary Business Plan

 

    23

    	 	License and Development Agreement

    

 

Appendix A - [Template for Licensee
Reports] – to be provided by NLS to Eurofarma within 60 days following the effective date of signature of the Agreement

 

    24

    	 	License and Development Agreement

    

 

Appendix B – Preliminary Business
Plan

 

Sales Forecast Latin America –
in units (monthly treatments, considering both adult and pediatric indications)

 

	Forecast in Units	 	YEAR 1	 	YEAR 2	 	YEAR 3	 	YEAR 4	 	YEAR 5	 	YEAR 6	 	YEAR 7	 	YEAR 8	 	YEAR 9	 	YEAR 10	 	TOTAL
	BRAZIL	 	67.435	 	154.809	 	232.214	 	348.321	 	435.401	 	522.481	 	548.605	 	576.035	 	587.556	 	599.307	 	4.072.162
	REST OF LATAM	 	21.931	 	71.105	 	135.482	 	206.698	 	259.783	 	299.791	 	343.867	 	327.768	 	287.040	 	276.346	 	2.229.813
	TOTA LATAM	 	89.366	 	225.914	 	367.696	 	555.019	 	695.184	 	822.272	 	892.472	 	903.803	 	874.596	 	875.653	 	6.301.974

 

 

25Exhibit 10.15

 

Execution Version

 

 

 

 

 

 

Assignment
and transfer agreement

 

 

 

(“Agreement”)

 

dated

 

august
31, 2015

 

between

 

NEUROLIFESCIENCES
SAS, 1, rue de Stockholm, 75008 Paris, France

(“Assignor” or “NLS
FRANCE”)

 

and

 

nls-1
pharma ag, Breitenweg 10, 6370 Stans, Switzerland

(“Assignee” or “NLS-1”)

 

(together, the “Parties”)

 

relating to

 

the assignment and transfer of rights
and obligations under a licence agreement

 

 

 

 

 

     

     

    

 

WHEREAS: 

 

		(1)	NLS FRANCE has entered into a licence agreement with Assistance Publique Hôpitaux de Paris,
Paris, France (“AP-HP”),
dated February 12, 2015 (“Licence Agreement”),
according to which AP-HP as licensor grants to NLS FRANCE as licensee various rights, including licence and sublicence rights and
a purchase option right with respect to various Patents (as defined in the Licence Agreement) and related rights;

 

		(2)	As stipulated in the Licence Agreement, NLS FRANCE has notably the contractual obligation to (i)
procure funding for the development of the Patents, (ii) develop work priorities for the Patents, and (iii) report the state of
progress of said works to AP-HP. In addition, the Licence Agreement provides the circumstances under which the absence of development
works on the Patents constitutes a breach of contract for which NLS FRANCE would be liable for damages in favor of AP-HP;

 

		(3)	As stipulated in the Licence Agreement, NLS FRANCE has the right to assign its rights and obligations
upon prior notice to AP-HP;

 

		(4)	Currently, NLS FRANCE has no financial possibility to proceed to the research and development works
of the Patents as required under the Licence Agreement;

 

		(5)	In order to reduce its liability exposure vis-à-vis AP-HP and in compliance with NLS FRANCE’s
obligation to acts of good management under applicable French corporate regulation, NLS FRANCE desires to assign and transfer all
of its rights, duties and obligations in the Licence Agreement;

 

		(6)	NLS FRANCE has looked for and has been able to find investors (“Investors”)
that provide adequate funding, notably for the performance of the Development Work (as defined in the Licence Agreement);

 

		(7)	The Investors will provide a substantial amount of equity and debt in line with the business plan
and the anticipated Development Work, and will in turn receive a 40% equity stake in NLS FRANCE;

 

		(8)	In order to achieve research and development works of the Patents, the current shareholders of
NLS FRANCE (“Founders”)
and the Investors have agreed to establish NLS-1, which will be controlled by the same shareholders as NLS FRANCE (i.e. 60% Founders,
40% Investors) and to which all rights and obligations under the Licence Agreement shall be transferred;

 

		(9)	Assignee desires to accept such assignment and delegation and to assume such rights, duties and
obligations, in accordance with the terms hereof;

 

		(10)	NOW, THEREFORE, IN CONSIDERATION OF THE PREMISES ABOVE, THE PARTIES HERETO AGREE AS FOLLOWS:

 

		1.	Assignment, Transfer AND COnsideration

 

		1.1	Subject to the fulfilment of the condition set forth in art. 2 below and in
consideration of the sum of EUR 125,000.- (plus applicable
taxes), the receipt and sufficiency of which is hereby acknowledged, the Assignor herewith
assigns and transfers to the Assignee all of its rights, titles, interest and obligations under or in connection with the Licence
Agreement (in particular all rights related to the licence of the Patents and the purchase option right), and the Assignee hereby
accepts such assignment and such transfer, and assumes such rights, duties and obligations.

 

    2

     

    

 

		1.2	As consideration of the assignment and transfer in accordance with this Agreement, the Assignee
shall pay to the Assignor:

 

		(a)	a sum of EUR 100,000.- (plus applicable
taxes);

 

		(b)	a sum of EUR 25,000.- (plus applicable
taxes), equal to the amount of all costs and expenses incurred by NLS FRANCE with respect to the
Licence Agreement until the date of execution of the Agreement.

 

		2.	conditions

 

The assignment and transfer
set forth in art. 1 above shall become effective upon fulfilment of the following conditions:

 

		(a)	NLS-1 has received the pharmaceutical establishment status as confirmed by Swissmedic;

 

		(b)	NLS FRANCE and NLS-1 have the same ownership structure, i.e. the Founders own 60% of the equity
and the Investors own 40% of the equity of NLS-1 (as confirmed by an excerpt of the share register of NLS-1) and of NLS FRANCE
(as confirmed by the updated share transfer register and the shareholders’ individual accounts).

 

The above conditions shall be
regarded as fulfilled at the time NLS-1 sends a respective confirmation to NLS FRANCE and NLS FRANCE sends a respective confirmation
to NLS-1.

 

		3.	Further undertakings

 

		3.1	The Assignee undertakes to fully adhere and accepts to be bound by the same obligations as the
Assignor under the Licence Agreement.

 

		3.2	The Assignor agrees that it will, at the request of the Assignee, at all times after the date of
this Agreement do all acts and execute all documents as may be reasonably necessary or desirable to secure the vesting of the Assignee
in all rights assigned to the Assignee by this Agreement.

 

		4.	Covenants of Assignee

 

Assignee agrees that, during
the term of this Agreement, and as long as the Licence Agreement is in effect, Assignee shall pay to AP-HP as specified by Assignor
all amounts that are subject of - and in accordance with - the Licence Agreement.

 

    3

     

    

 

		5.	representations

 

NLS FRANCE
represents and warrants to NLS-1 that:

 

		5.1	it is a corporation, duly incorporated and validly existing under the law of its jurisdiction of
incorporation and it has the power to own its assets and carry on its business as it is being conducted;

 

		5.2	is fully entitled to enter into and execute this Agreement and to transfer all its rights and obligations
under the Licence Agreement to NLS-1 as contemplated by this Agreement;

 

		5.3	it is not aware of any legal deficiencies of the Patents licensed under the Licence Agreement,
in particular it is not aware of any third party’s prior
use of rights, or of any dependency of the licensed Patents on third party’s
patents;

 

		5.4	NLS FRANCE has fully complied with all terms of the Licence Agreement and is not in breach of the
Licence Agreement;

 

		5.5	the performance by it of the transaction contemplated by this Agreement does not and will not conflict
with (i) any law or regulation applicable to it, (ii) its constitution documents or (iii) any agreement or instrument by and upon
it;

 

		5.6	it has obtained all and any authorization required to legally effect the transaction contemplated
by this Agreement;

 

		5.7	no resolution, procedure or application for a winding-up, solvent liquidation, dissolution, restructuring
or a change of legal form (or equivalent proceedings under applicable foreign law) exist or are threatened (in writing) that could
result in such a winding-up, solvent liquidation, dissolution, restructuring or a change of legal form of NLS FRANCE;

 

		5.8	no litigation, arbitration or administrative proceedings of or before any court, arbitral body
or authority which are reasonably likely to be adversely determined have been started or threatened (in writing) against it;

 

		5.9	NLS FRANCE is in compliance with all applicable laws and regulations.

 

		6.	Further Actions

 

Assignor and Assignee will execute,
acknowledge and deliver all such other and additional instruments, notices, releases and other documents and will do all such other
acts as may be necessary or advisable to fully assign to Assignee all of the respective rights and interests herein and hereby
granted or intended to be granted and to carry out their respective obligations under this Agreement.

 

		7.	governing law and jurisdiction

 

		7.1	This Agreement shall in all respects be governed by and construed in accordance with Swiss law.

 

		7.2	All disputes arising out of or in connection with this Agreement, including disputes regarding
its conclusion, validity, binding effect, amendment, breach, termination or rescission shall be subject to the exclusive jurisdiction
of the ordinary courts of Zurich, canton of Zurich, Switzerland, venue being Zurich 1.

 

    4

     

    

 

IN WITNESS WHEREOF, the Parties
have signed this Agreement on the date first written above

 

	NeuroLifeSciences SAS	 
	 	 
	/s/ Eric-Jean Desbois	 
	Eric-Jean Desbois	 
	 	 
	NLS-1 Pharma AG	 
	 	 
	/s/ Ronald Hafner	 
	Ronald Hafner	 
	 	 
	/s/ Alexander Zwyer	 
	Alexander Zwyer	 

 

 

5

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