Document:

ex10_8.htm

INTELLECTUAL PROPERTY ASSIGIMENT

THIS INTELLECTUAL PROPERTY ASSIGNMENT (the "Agreement") is made between EMS Development Group LLC, a Maryland limited liability company ("Assignor") and CNS Protein Therapeutics, Inc., a Delaware corporation (the "Assignee"), effective as of March 5, 2008 (the "Effective Date").

WHEREAS, Assignor owns or controls all right, title and interest in and to certain intellectual property listed on Exhibit A hereto (collectively, the "Intellectual Property'');

WHEREAS, Assignor wishes to assign, and Assignee wishes to obtain, all right, title and interest in and to the Intellectual Property; and

NOW THEREFORE, for good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties hereto agree as follows:

I.          Assignment. Assignor hereby irrevocably assigns and transfers to Assignee and its successors, legal representatives and assigns all of its right, title and interest in and to the Intellectual Property;

2.           Consideration. In exchange for Assignor's assignment of the Intellectual Property, Assignee shall pay to Assignor, the consideration described in Exhibit C, subject to certain contingencies described therein (the "Consideration").

3.           Assumption of Liabilities. Assignee hereby assumes the liabilities relating to the Intellectual Property described on Exhibit D.

4.           Representations and Warranties; Release. Assignor hereby represents and Warrants to the Assignee as follows:

(a)          Authority. Assignor has the right, power and authority to enter into this Agreement.

(b)          No Violations or Conflicts. Assignor is the sale owner of the Intellectual Property, and is eotitled to assign the Intellectual Property without the consent of any third party.

(c)          Non-Interference. Assignor does not own any intellectual property that would conflict with Assignee's ability to fully exploit the Intellecrual Property. Assignor has disclosed to Assignee all patents, know-how and materials necessary or reasonably useful for the exploitation of the Intellectual Property.

5.          Further Assurances of Assignor. On and after the Effective Date, Assignor will:

(a)          Affidavits in Support of Revival. Assignor will deliver to Assignee's counsel its affidavit, and will use its best efforts to procure and deliver to Assignee's counsel. the affidavits of (i) Peter Allard (00 behalf of Hyacinthe Services Limited), (ii) Gordon Keep or Geir Liland (on behalf of Prescient Neuropharma, Inc.) and (iii) Leanne Bate (as former director of Prescient

  

  

  

IN WITNESS WHEREOF, this Assignment of Patents is executed on March 5, 2008.

EMS Development Group,

a Maryland corporation

 

/s/ George Steinfels

George Steinfels, President

ATTEST:

By: ________________________

Title: ______________________

State of Maryland                                )

) ss.

County of Montgomery                      )

On this 5th day of March, 2008 before me the undersigned, a Notary Public in and for the County and State aforesaid, personally appeared George Steinfels who is personally known to me (or proved to me on the basis of satisfactory evidence) to be the person whose name is subscribed to within instrument and acknowledged to me that he executed the same in his authorized capacity and that by his signature On such instrument the person, or the entity upon behalf of which the person acted, executed the instrument.

                

Signature

 

My commission expires: Feb. 10, 2010

  

  

  

 

EXHIBIT A

 

Intellectual Property

 

The Intellectual Propeny shall consist of all of Assignor's right title and interest in and to the intellectual property rights relating to the protein molecule known as Mesencephalic Astrocyte­derived Neurotrophic Factor ("MAW), including without limitation (a) the patents and any inventions set fonh below (the "Patents"); (b) all rights to apply in any or all countries of the world for patents, certificates of in venti ODS or other governmental grants in such Patents; (c) any and all applications filed and any and all patents, certificates of inventions or other governmental grants granted on said Patents in the United States or any other country, including each and every application filed and each and every Patent granted on any applications which is a division, substitution or continuation of any of said applications; (d) each and every reissue or extension of any of such Patents; (e) each any every patent claim resulting from a reexamination certificate for any and all such Patents; and (f) any and all rights to sue for and recover damages for any past, present or future violation, misappropriation or infringement of the Patents (collectively, the "Intellectual Property).

	
Title

	
Jurisdiction

	
Application/Publication

Number

	
Dopaminergic Neuronal Survival-Promoting Factors and Uses Thereof

	
USA

	
10/102,265

	
Dopaminergic Neuronal Survival-Promoting Factors and Uses Thereof

	
Canada

	
2441740

	
Dopaminergic Neuronal Survival-Promoting Factors and Uses Thereof

	
Europe

	
EP 1373502 A2

	
Dopaminergic Neuronal Survival-Promoting Factors and Uses Thereof

	
Japan

	
JP2004528835TT

  

  

  

EXHIBIT B

 

ASSIGNMENT OF PATENTS

 

V,'HEREAS, EMS Development Group LLC, a Maryland limited liability company (hereinafter "Assignor") and CNS Protein Therapeutics, Inc., a Delaware corporation (hereinafter "Assignee") are parties to that certain Intellectual Property Assignment, effective as of March 5, 2008 (the "Agreement").

NOW THEREFORE, for good and valuable consideration, the receipt of which is hereby acknowledged, Assignor does hereby sell, assign and transfer and agrees to sell, assign and transfer unto Assignee or its designees, all of Assignor's right, title and interest in and to the patents and patent applications listed in Exhibit A to the Agreement of even date herewith (collectively, the "Patents") and any reissues and continuations thereof and in all counterparts of the foregoing Patents filed or issued in foreign countries, as to which Assignor agrees to furnish and to execute on a country-by-country basis specific assignments as requested by Assignee or any such designee.

Assignor covenants that it is the sole owner and holder of record title to the above-identified patent applications and any patents that issue thereon (and foreign counterparts thereto) and that it has full power to make the present assignment.

Assignor further sells, assigns, transfers and conveys unto Assignee the entire right, title and interest in and to any and all causes of action and rights or recovery for past infringement of the Patents herein assigned.

Assignor warrants unto the Assignee and further agrees that Assignor will, without demanding any further consideration therefor, at the request and at the expense of the Assignee, do all lawful and just acts including the execution and acknowledgment of instruments, that may be or became necessary for sustaining, obtaining continuations thereof, or reissuing said United States Patents and foreign counterparts and for maintaining and perfecting the Assignee's right to said Patents, particularly in cases of interference and litigation.

Assignor also hereby authorizes the Commissioner of Patents to issue any and all Patents that may be granted upon any of the patent applications herein referenced to Assignee, as the assignee to the entire interest therein.

 

  

  

  

EXHIBIT C

CONSIDERATION

The Consideration to be paid for the assignment of the Patents shall be as follows:

· 53,750.00 shall be paid by wire transfer upon closing of this transaction;

· An additional 520,000 shall be paid by wire transfer upon the closing of a financing generating aggregate gross proceeds for Assignee of at least S 1,250,000;

· If and only if, the Patent is revived in the United States, 550,000 shall be paid by wire transfer upon the closing of a financing generating aggregate gross proceeds for Assignee of at least 55,000,000; and

· If and only if, the Patent is revived in Europe, 520,000 shall be paid by wire transfer upon the closing of a financing generating aggregate net proceeds for Assignee of at least 56.000,000.

  

  

  

EXHlBIT D

ASSIGNED LIABILITIES

Assignee hereby agrees to pay:

· The reasonable, documented fees and expenses of Barnes & Thornberg LLP which are directly related to work performed by the firm in acquiring the Intellectual Property on November 30, 2007 and for subsequent work in reviving the patents and transitioning related documents to new counsel;

· Within seven (7) days of receipt from EMS of an itemized statement from Hyacinthe Services Limited ("Hyacinthe"), up to CDN$3,000 for the assistance of Hyaeinthe personnel during the revival prosecution of the Intellectual Property and related out of pocket expenses;

· Upon closing of this transaction, subject to receipt of a reasonably documented invoice therefore, expenses incurred by Assignor at the request of Assignee in the amount of $1,533.61;

· Such other reasonable and documented expenses of EMS or Hyacinthe as shall be mutually agreed upon in advance by the parties in writing.ex10_9.htm

DATA TRANSFER AGREEMENT

 

THIS DATA TRANSFER AGREEMENT (the "Agreement") is made between CNS Protein Therapeutics, Inc. ("CNS-PT"), a Delaware corporation and Professor Mart Saarma (“Prof. Saarma") effective as of June 2, 2009 (the "Effective Date").

Recitals

WHEREAS, Prof. Saarma has already provided certain data to Dr. John Commissiong, CSO of CNS-PT listed in Exhibit A hereto (collectively, the "Prior Data");

WHEREAS, CNS-PT would like to have access to certain rodent data listed in Exhibit B hereto (collectively, the Jl6-0HDA Data");

WHEREAS, CNS-PT is writing grants and seeking to close a financing round;

WHEREAS, Prof. Saarma is willing to allow CNS to use the 6-0HDA Data and Prior Data for the purposes of submitting grants and closing a financing round in exchange for a consideration;

NOW THEREFORE, for good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties hereto agree as follows:

Agreement

 

1.            Data Transfer. Prof. Saarma hereby agrees to transfer the 6-OHDA Data to CNS-PT. CNS PT will be allowed to use and disclose the 6-0HDA Data for the purposes of submitting grants and obtaining financing. For 

sake of clarity, no rights or ownership of any part of prior data or 6­OHDA data is transferred with this agreement. Prior to payment of the consideration, CNS-PT is allowed to use and disclose the data to investors and in grant applications.

2.            Consideration. In exchange for Prof. Saarma's transmission of Data, CNS-PT shall pay to Prof. Saarma, $100,000 subject to certain restrictions described herein (the "Consideration"):

a. CNS-PT will pay Prof. Saarma the sum of $50,000 USD in consideration for transfer of the Prior Data upon closing of an equity financing with aggregate gross proceeds in excess of $1,000,000 USD

    b. CNS-PT will pay Prof. Saarma the sum of $50,000 USD in consideration for the transfer of the 6-0HDA Data upon closing of an equity financing with aggregate gross proceeds in excess of $2,000,000 USD at which time CNS-PT will have completed its financial responsibility to Prof. Saarma. Upon payment of the Consideration described in sections 2a and 2b of this Agreement, eNS PT shall be allowed to use the 6-0HDA Data for any purposes, except under no circumstances is CNS-PT authorized to publish these data in any format without assigning ownership to Prof Saarma.

  

  

  

RESTRICTIONS: Until payment of the full Consideration of $50,000 plus $50,000, CNS-PT is authorized to show the 6-OHDA and Prior Data-to investors, or to submit these data in support of grants} as long as Prof. Saarma and Prof. Raimo Tuominen are credited with the work. Under no circumstances is CNS authorized to publish these data without specific written permission from Prof. Saarma.

3.           Representation and Warranties; Prof. Saarma he-re-by represents and warrants to CNS-PT as follows:

a.  Authority. Prof. Saarma has the right} power and authority to enter into this Agreement

b.  No Violations or Conflicts. Prof. Saarma has the legal authority to transfer the Data

4.           Further Assurances of CNS-PT. After the Effective Date} CNS-PT will, as soon as possible after the first, second, third and fourth quarters of the calendar year, furnish Prof. Saarma with a written report of the aggregate gross proceeds received as of the end of such quarter from all forms of equity and debt financing instruments.

5.           Confidentiality. Upon execution of this Agreement, all information relating to this Agreement will be deemed confidential. CNS-PT and Prof. Saarma agree not to disclose any information related to this transaction to any third parties.

6.           Miscellaneous. This Agreement will inure to the benefit of and bind CNS-PT and Prof. Saarma and their successors) assigns, heirs and legal representatives. This Agreement will be governed by the laws of the State of California without giving effect to that jurisdiction's choice of law principles. The parties agree that (i) the courts of the State of California and United States federal courts sitting in the State of California will have exclusive jurisdiction over any disputes arising under this Agreement, and (ii) they will submit to the jurisdiction of such courts. This Agreement is the complete, entire, final and exclusive statement of the terms and conditions of the agreement between the parties. This Agreement supersedes, and the terms of this Agreement govern, any prior or collateral agreements or letters of intent between the parties with respect to ~he subject matter hereof. This Agreement may not be modified except in a writing executed by duly authorized representatives of the parties. This Agreement may be executed in two or more counterparts, each of which shall be deemed as original, but all of which together shall constitute one and the same instruments.

[Remainder of page left intentionally blank]

  

-2-

  

IN WITNESS THEREOF1 CNS-PT and Prof. Saarma have executed this Agreement as of the date first written above.

	
“CNS-PT”

	  	
“Prof. Saarma”

	 	 	 
	
CNS PROTEIN THERAPEUTICS, INC

	  	
PROFESSOR MART SAARMA

	
A Delaware Corporation

	  	  
	 	 	 
	
By: /s/ John Commissiong

	  	
By: /s/ Mart Saarma

	
John Commissiong

	  	
Dr. Mart Saarma

  

  

  

EXHIBIT A

PRIOR DATA shall mean:

      

       1.    Drosophila MANF KO data

2.           MANF quantitative RT-PCR expression data in adult mouse brain: 10 regions

3.           Preliminary 6-OHDA MANF neuroprotective data in rodents

4.           MANF upregulation data in hippocampus and cerebellum in response to kindling

  

  

  

EXHIBIT B

 

6-OHDA DATA shall mean in vivo data on the effect of MANF in rat 6-0HDA modet consisting of the following slides:

1. The outline of the in vivo neuroprotection experiments

2. Behavioral data= amphetamine induced rotational assay

3. TH positive cell counts

4. The outline of the in vivo neurorestorative experiments

5. Behavioral data

6. TH positive cell counts

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