Document:

EXHIBIT 4(iii)

THIS  SECURITY HAS NOT BEEN  REGISTERED  UNDER THE  SECURITIES  ACT OF 1933,  AS
AMENDED,  OR ANY APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE SOLD,  OFFERED
FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF A REGISTRATION  STATEMENT IN
EFFECT WITH RESPECT TO THE WARRANT  UNDER SUCH ACT AND  APPLICABLE  LAWS OR SOME
OTHER  EXEMPTION FROM THE  REGISTRATION  REQUIREMENTS OF SUCH ACT AND APPLICABLE
LAWS OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION
IS NOT REQUIRED.

NO. W  -  A -___                          Warrant for _____________ Common Stock
                                                  (subject to adjustment)

                                  ALPHARX, INC.

                        WARRANT TO PURCHASE COMMON STOCK

      This certifies  that, for value  received,  __________________________,  a
___________ organized and existing under the laws of the State of _____________,
and having an address of  __________________________,  or its registered assigns
(the holder or any  registered  assign  thereof  being a "HOLDER")  is entitled,
SUBJECT TO THE TERMS SET FORTH BELOW, to purchase from ALPHARX,  INC. a Delaware
corporation  having an address of 200-168  Konrad  Crescent,  Markham,  Ontario,
Canada L3R9T9 (the "COMPANY"),  the number of shares of Common Stock, as defined
below,  appearing above,  upon surrender  hereof, at the principal office of the
Company  referred to below,  with the  subscription  form  attached  hereto duly
executed, and simultaneous payment therefor in lawful money of the United States
or  otherwise as  hereinafter  provided,  at the Exercise  Price as set forth in
Section 3 below.  The term  "WARRANT" as used herein shall include this Warrant,
and any warrants  delivered in substitution  or exchange  herefor or therefor as
provided herein.  As more  particularly  set forth in that certain  Subscription
Agreement,  dated June __, 2004, (the  "SUBSCRIPTION  AGREEMENT") by and between
the Company and the  undersigned  Holder,  this Warrant was issued to the Holder
for the consideration set forth in the Subscription Agreement.

      On or about  the date  hereof  the  Company  has or may enter  into  other
agreements  similar to the Subscription  Agreement and pursuant thereto issue to
other  persons  warrants that are similar to this Warrant (this Warrant and such
other warrants are hereinafter collectively, the "WARRANTS").

      1.    TERM OF  WARRANT.  Subject  to the  terms and  conditions  set forth
herein,  this Warrant  shall be  exercisable,  in whole or in part,  at any time
after its  issuance  on this the ______ day of June,  2004 (the  "WARRANT  ISSUE
DATE") and before its  expiration  at 5:00 p.m. New York,  New York time, on the
third year anniversary of the Warrant Issue Date.

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WARRANT TO PURCHASE COMMON STOCK

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      2.    NUMBER  OF SHARES  FOR  WHICH  EXERCISABLE.  This  Warrant  shall be
exercisable at any time for the number of shares Common Stock appearing above at
the Exercise  Price in effect at such time;  provided  that the number of Common
Stock shall be appropriately adjusted from time to time to reflect any exercises
of this Warrant and such further  adjustments as are required  pursuant to other
provisions of this Warrant. For purposes hereof, "COMMON STOCK" means any common
stock or equivalent  units  authorized under the Certificate of Incorporation or
other governing instruments of the Company including any securities subsequently
issued in any merger, recapitalization or other transaction in exchange for such
securities.

      3.    EXERCISE  PRICE.  The price per share of Common  Stock at which this
Warrant may be exercised (the "EXERCISE PRICE") shall be equal to U.S. $0.30 and
shall be payable in cash or other immediately available funds.

      4.    EXERCISE OF WARRANT.

            (a)   The   purchase   rights   represented   by  this  Warrant  are
exercisable  by the  Holder in whole or in part,  at any  time,  or from time to
time,  during the term hereof as described in Section 1 above,  by the surrender
of this Warrant and the Notice of Exercise  annexed  hereto duly  completed  and
executed  on behalf of the  Holder,  at the office of the Company (or such other
office or agency of the Company as it may  designate by notice in writing to the
Holder at the address of the Holder appearing on the books of the Company), upon
payment  (i) in cash or wire  transfer  of  immediately  available  funds to the
Company  of  the  Exercise  Price,   (ii)  by  cancellation  by  the  Holder  of
indebtedness  or other  obligations of the Company to the Holder,  or (iii) by a
combination  of (i)  and  (ii),  of the  purchase  price  of  the  shares  to be
purchased.

            (b)   This   Warrant   shall  be  deemed  to  have  been   exercised
immediately  prior to the close of  business  on the date of its  surrender  for
exercise as provided above,  and the person entitled to receive the Common Stock
issuable upon such  exercise  shall be treated for all purposes as the holder of
record  of such  Common  Stock as of the  close of  business  on such  date.  As
promptly as  practicable  on or after such date and in any event within ten (10)
days  thereafter,  the  Company at its  expense  shall  issue and deliver to the
person or persons entitled to receive the same a certificate or certificates for
the number of shares of Common Stock issuable upon such  exercise.  In the event
that this Warrant is exercised in part,  the Company at its expense will execute
and  deliver a new  Warrant of like tenor  exercisable  for the number of Common
Shares for which this Warrant may then be exercised.

      5.    OWNERSHIP CAP AND EXERCISE RESTRICTIONS.

            (a)   Notwithstanding any provision of this Warrant to the contrary,
at no time may the Holder,  or any subsequent  holder,  of this Warrant exercise
this  Warrant  if the  number of shares of Common  Stock to be issued  upon such
exercise  would result,  when  aggregated  with all other shares of Common Stock
owned by the Holder at such time,  in the Holder  owning  more than 4.99% of the
outstanding Common Stock at the time of the exercise,  PROVIDED,  HOWEVER,  that
upon the Holder  providing  the  Company  with  sixty-one  (61) days notice (the
"WAIVER  NOTICE")  that the  Holder  intends to waive the  requirements  of this
Section  5(a) in regard to any or all of the Common  Stock to be issued upon the
exercise of the  Warrant,  then this  Section 5(a) shall have no force or effect
with regard to any Common Stock  referenced  in Waiver  Notice.  This  provision
shall expire  sixty-one  (61) days prior to the expiration of this Warrant under
Section 1.

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WARRANT TO PURCHASE COMMON STOCK

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            (b)   The Holder may not  exercise  this Warrant in whole or in part
to the extent such exercise would result in the Holder  beneficially  owning (as
determined in accordance  with Section 13(d) of the  Securities  Exchange Act of
1934 and the rules  promulgated  thereunder)  more than 9.99% of the then issued
and  outstanding  Common Stock,  including  any Common Stock,  issuable upon the
exercise of this Warrant after the application of this Section 5(b).

            6.    NO FRACTIONAL  SHARES OR SCRIP. No fractional  shares or scrip
representing  fractional  shares  shall  be  issued  upon the  exercise  of this
Warrant.  In lieu of any fractional share to which the Holder would otherwise be
entitled,  the Company  shall make a cash payment equal to the fair market value
of such fractional share.

            7.    REPLACEMENT  OF  WARRANT.  On receipt of  evidence  reasonably
satisfactory  to the Company of the loss,  theft,  destruction  or mutilation of
this Warrant and, in the case of loss,  theft or destruction,  on delivery of an
indemnity agreement reasonably satisfactory in form and substance to the Company
or, in the case of mutilation,  on surrender and  cancellation  of this Warrant,
the Company at its expense shall execute and deliver, in lieu of this Warrant, a
new warrant of like tenor and amount.

            8.    RIGHTS OF  STOCKHOLDERS.  The Holder  shall not be entitled to
vote or receive  dividends  or be deemed the holder of Common Stock or any other
securities  of the  Company  that may at any time be  issuable  on the  exercise
hereof for any  purpose,  nor shall  anything  contained  herein be construed to
confer  upon the  Holder,  as such,  any of the rights of a  shareholder  of the
Company or any right to vote for the  election of  directors  or upon any matter
submitted to shareholders at any meeting thereof, or to give or withhold consent
to  any  corporate  action  (whether  upon  any  recapitalization,  issuance  of
securities,  reclassification  of securities,  change of par value, or change of
securities to no par value, consolidation,  merger, conveyance, or otherwise) or
to receive notice of meetings, or to receive dividends or subscription rights or
otherwise until the Warrant shall have been exercised as provided herein.

            9.    TRANSFER OF WARRANT.

                  (a)   WARRANT  REGISTER.  The Company will maintain a register
(the  "WARRANT  REGISTER")  containing  the names and addresses of the Holder or
Holders. Any Holder of this Warrant or any portion thereof may change his or her
address  as shown on the  Warrant  Register  by  written  notice to the  Company
requesting  such  change.  Any  notice  or  written  communication  required  or
permitted  to be given to the Holder may be  delivered  or given by mail to such
Holder as shown on the Warrant  Register and at the address shown on the Warrant
Register.  Until this  Warrant is  transferred  on the  Warrant  Register of the
Company,  the Company  may treat the Holder as shown on the Warrant  Register as
the absolute owner of this Warrant for all purposes,  notwithstanding any notice
to the contrary.

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WARRANT TO PURCHASE COMMON STOCK

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                  (b)   WARRANT AGENT. The Company may, by written notice to the
Holder,  appoint an agent for the purpose of  maintaining  the Warrant  Register
referred to in Section 9(a) above,  issuing the Common Stock or other securities
then  issuable  upon the  exercise of this  Warrant,  exchanging  this  Warrant,
replacing  this Warrant,  or any or all of the foregoing.  Thereafter,  any such
registration,  issuance,  exchange, or replacement, as the case may be, shall be
made at the office of such agent.

                  (c)   TRANSFERABILITY AND  NONNEGOTIABILITY  OF WARRANT.  This
Warrant  may  not be  transferred  or  assigned  in  whole  or in  part  without
compliance  with  all  applicable  federal  and  state  securities  laws  by the
transferor   and  the   transferee   (including   the  delivery  of   investment
representation  letters  and  legal  opinions  reasonably  satisfactory  to  the
Company,  if such are  requested by the Company).  Subject to the  provisions of
this Warrant with respect to  compliance  with the  Securities  Act of 1933,  as
amended (the "ACT"), title to this Warrant may be transferred by endorsement (by
the Holder  executing the  Assignment  Form annexed  hereto) and delivery in the
same manner as a negotiable instrument transferable by endorsement and delivery.

                  (d)   EXCHANGE OF WARRANT  UPON A TRANSFER.  On  surrender  of
this Warrant for exchange,  properly endorsed on the Assignment Form and subject
to the  provisions of this Warrant with respect to  compliance  with the Act and
with the limitations on assignments  and transfers  contained in this Section 8,
the  Company at its  expense  shall issue to or on the order of the Holder a new
warrant or warrants  of like  tenor,  in the name of the Holder or as the Holder
(on payment by the Holder of any applicable  transfer taxes) may direct, for the
number of shares issuable upon exercise hereof.

                  (e)   COMPLIANCE WITH SECURITIES LAWS.

                        (i)   The Holder of this Warrant,  by acceptance hereof,
acknowledges  that this Warrant and the Common Stock to be issued upon  exercise
hereof are being  acquired  solely for the  Holder's  own  account  and not as a
nominee for any other party;  and for  investment,  and that the Holder will not
offer,  sell or  otherwise  dispose of this  Warrant  or any Common  Stock to be
issued upon exercise hereof except under circumstances that will not result in a
violation  of the  Act or any  state  securities  laws.  Upon  exercise  of this
Warrant, the Holder shall, if requested by the Company, confirm in writing, in a
form  satisfactory to the Company,  that the Common Stock so purchased are being
acquired  solely for the Holder's own account and not as a nominee for any other
party, for investment, and not with a view toward distribution or resale.

                        (ii)  This  Warrant  and all Common  Stock  issued  upon
exercise  hereof unless  registered  under the Act shall be stamped or imprinted
with a legend in  substantially  the  following  form (in addition to any legend
required by state securities laws):

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         THE SECURITIES REPRESENTED HEREBY HAVE BEEN ACQUIRED FOR INVESTMENT AND
         HAVE NOT BEEN REGISTERED  UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
         OR ANY  APPLICABLE  STATE  SECURITIES  LAWS.  SUCH  SECURITIES  AND ANY
         SECURITIES   ISSUED   HEREUNDER  OR  THEREUNDER  MAY  NOT  BE  SOLD  OR
         TRANSFERRED  IN  THE  ABSENCE  OF  SUCH  REGISTRATION  OR AN  EXEMPTION
         THEREFROM UNDER SAID ACT AND APPLICABLE LAWS.

      10.   RESERVATION  OF STOCK.  The Company  covenants  that during the term
this Warrant is  exercisable,  the Company will reserve from its  authorized and
unissued  Common Stock a sufficient  number of shares of Common Stock to provide
for the  issuance of all shares of Common  Stock  issuable  upon the exercise in
full of this Warrant and,  from time to time,  will take all steps  necessary to
amend its operating  agreement (or any other governing  documents of the Company
that may be in effect from time to time) to provide for  sufficient  reserves of
shares of Common Stock then issuable  upon exercise in full of the Warrant.  The
Company  further  covenants  that all Common  Stock  issued upon the exercise of
rights represented by this Warrant in accordance with its terms will be duly and
validly issued, fully paid,  non-assessable,  and free from all taxes, liens and
charges  in  respect of the issue  thereof  (other  than taxes in respect of any
transfer occurring contemporaneously or otherwise specified herein). The Company
agrees that its issuance of this Warrant shall  constitute full authority to its
officers  and  agents  who  are  charged  with  the  duty  of  executing   stock
certificates or other evidence of equity interests of the Company to execute and
issue the necessary  certificates or other instruments for Common Stock upon any
exercise of this Warrant.

      11.   NOTICES.

            (a)   Whenever  the  Exercise  Price or  number  of shares of Common
Stock purchasable hereunder shall be adjusted pursuant to Section 13 hereof, the
Company shall issue a certificate  signed by its Chief Financial Officer (or the
equivalent  officer of the Company)  setting forth,  in reasonable  detail,  the
event  requiring the  adjustment,  the amount of the  adjustment,  the method by
which such adjustment was  calculated,  and the Exercise Price and the number of
shares of Common Stock issuable or issued thereunder after giving effect to such
adjustment,  and  shall  cause a copy  of  such  certificate  to be  mailed  (by
first-class mail, postage prepaid) to the Holder of this Warrant.

            (b)   In case:

                  (i)   the  Company  shall take a record of the  holders of its
CommonStock  (or  securities  at the time  receivable  upon the exercise of this
Warrant)  for the purpose of  entitling  them to receive  any  dividend or other
distribution,  or any right to subscribe for or purchase any Common Stock or any
other securities, or to receive any other right, or

                        (ii)  of any capital  reorganization of the Company, any
reclassification  of the capital  stock of the  Company,  any  consolidation  or
merger of the Company with or into another corporation, or any conveyance of all
or substantially all of the assets of the Company to another corporation, or

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                        (iii) of  any  voluntary  dissolution,   liquidation  or
winding-up of the Company, then, and in each such case, the Company will mail or
cause to be mailed to the Holder or Holders a notice specifying, as the case may
be,  (A) the date on  which a record  is to be  taken  for the  purpose  of such
dividend,  distribution  or right,  and stating the amount and character of such
dividend,  distribution or right, or (B) the date on which such  reorganization,
reclassification, consolidation, merger, conveyance, dissolution, liquidation or
winding-up is to take place,  and the time,  if any is to be fixed,  as of which
the holders of record of Common Stock (or such securities at the time receivable
upon the exercise of this  Warrant)  shall be entitled to exchange  their Common
Stock (or such other  securities)  for securities or other property  deliverable
upon such reorganization,  reclassification,  consolidation, merger, conveyance,
dissolution,  liquidation or winding-up. Such notice shall be mailed at least 15
days prior to the date therein specified.

            (c)   All such notices,  advices and communications  shall be deemed
to have been received when provided in accordance  with the notice  requirements
set forth in Section 13(a).

      12.   AMENDMENTS.

            (a)   This  Warrant may be amended in writing by the Company and the
Holder.  This  Warrant may also be amended in writing by the Company and holders
of a majority of all  outstanding  Warrants,  so long as all such  Warrants  are
identically  amended.  Any amendment effected in accordance with this Section 12
shall be binding upon the Holder,  each future  holder of the  Warrant,  and the
Company.

            (b)   No  waivers  of, or  exceptions  to,  any term,  condition  or
provision of this Warrant, in any one or more instances,  shall be deemed to be,
or construed as, a further or continuing  waiver of any such term,  condition or
provision.

      13.   MANDATORY  REDEMPTION.  At the election of the Company, this Warrant
is subject to mandatory redemption at a price of U.S. $0.01 per underlying share
of Common Stock if the Common Stock trades for 10 consecutive  trading days at a
price at or above  U.S.  $0.90  per  share on any  eligible  market  (including,
without limitation,  the  over-the-counter  market;  NASDAQ Small Cap Market and
NASDAQ National Market),  provided that (i) the Holder will be given at least 15
days  prior  written  notice of such  redemption  in order  that the  Holder may
exercise  this  Warrant,  and (ii)  immediately  prior to giving  such notice of
redemption,  the Common Stock underlying this Warrant is subject to an effective
registration statement covering its resale under the Act.

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      14.   MISCELLANEOUS.  The  following  additional  provisions  shall  apply
during the term of this Agreement:

            (a)   NOTICES.  Any notice  required or permitted under the terms of
this Warrant shall be in writing and shall be deemed effectively given: (i) upon
actual  delivery,  when  delivered  personally;  (ii) upon  receipt when sent by
confirmed telegram or fax if sent during normal business hours, and if not, then
on the  next  business  day;  (iii)  one day  after  deposit  with a  nationally
recognized overnight courier,  specifying next day delivery;  or (iv) 5 business
days after being  deposited in the U.S.  mail, as certified or registered  mail,
return receipt requested,  postage prepaid.  All communications shall be sent to
the Company at its principal address as set forth in the first paragraph of this
Warrant,  and to the Holder at its registered  address as set forth in the first
paragraph  of this  Agreement,  or at such other  address as the  Company or any
Holder may  subsequently  designate by ten days' advance  written  notice to the
other.

            (b)   GOVERNING  LAW.  This  Warrant  and all acts and  transactions
pursuant  hereto and the rights and  obligations of the parties hereto are to be
governed by and construed and enforced in accordance  with the laws of the State
of Delaware,  without  giving  effect to any choice of law rule that would cause
the application of the laws of any jurisdiction other than the State of Delaware
to the rights and duties of the parties hereto.

            (c)   ATTORNEY'S FEES. If any action at law or in equity  (including
arbitration)  is  instituted  to enforce or interpret the terms of this Warrant,
the Holder shall be entitled to reasonable  attorney's fees, costs and necessary
disbursements  in  addition  to any  other  relief to which  the  Holder  may be
entitled.

            (d)   ASSUMPTION  ON MERGER OR  CONSOLIDATION  OF THE  COMPANY.  The
Company will not merge or  consolidate  with or into, or enter into an agreement
of share exchange with, any other corporation  unless the corporation  resulting
from such merger,  consolidation,  or share  exchange (if not the Company) shall
expressly assume, by supplemental  agreement reasonably  satisfactory in form to
the Holder,  and duly executed and delivered to the Holder, the due and punctual
performance  and  observance  of each and every  covenant and  condition of this
Warrant to be performed and observed by the Company.

            (e)   CONSTRUCTION AND TITLES. The titles and subtitles used in this
Warrant are used for convenience only and are not to be considered in construing
or interpreting this Warrant.

      [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK. SIGNATURE PAGE FOLLOWS.]

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      IN WITNESS  WHEREOF,  the Company has caused this Warrant to be signed and
attested by its duly authorized officer or agent under its corporate seal and to
be dated the date hereof.

                                                ALPHARX, INC.

                                                By:_____________________________
                                                   Name:
                                                   Title:

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                               NOTICE OF EXERCISE

To:   ALPHARX, INC.

      (1)   The undersigned  hereby elects to purchase  _______ shares of Common
Stock (as such  term is  defined  in the  attached  Warrant)  of  ALPHARX,  INC.
pursuant to the provisions of Section 4(a) of the attached Warrant,  and tenders
herewith payment of the purchase price for all such shares of Common Stock.

      (2)   In exercising  this Warrant,  the  undersigned  hereby  confirms and
acknowledges  that the Common Stock to be issued upon  exercise  hereof is being
acquired  solely for the account of the undersigned and not as a nominee for any
other party, and for investment,  and that the undersigned will not offer,  sell
or otherwise  dispose of any such Common Stock except under  circumstances  that
will not result in a violation of the Act, or any  applicable  state  securities
laws.

      (3)   Please issue a  certificate  or  certificates  or other  appropriate
instrument  or  instruments  representing  said Common Shares in the name of the
undersigned or in such other name as is specified below:

                                                ________________________________
                                                (Name)

                                                ________________________________
                                                (Name)

      (4)   Please  issue a new  Warrant  for  the  unexercised  portion  of the
attached  Warrant  in the name of the  undersigned  or in such  other name as is
specified below:

                                                ________________________________
                                                (Name)

_________________________________               ________________________________
(Date)                                          (Signature)

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                                 ASSIGNMENT FORM

      FOR VALUE  RECEIVED,  the  undersigned  registered  owner of this  Warrant
hereby  sells,  assigns and transfers  unto the Assignee  named below all of the
rights of the undersigned  under the within Warrant,  with respect to the number
of shares of Common Stock set forth below:

NAME OF ASSIGNEE                    ADDRESS                   NO. OF SHARES

      and does hereby  irrevocably  constitute  and appoint  ___________________
Attorney to make such transfer on the books of ALPHARX, INC., maintained for the
purpose, with full power of substitution in the premises.

         The  undersigned  also  represents  that,  by  assignment  hereof,  the
Assignee  acknowledges  that this Warrant and the Common Stock to be issued upon
exercise hereof or conversion thereof are being acquired for investment and that
the Assignee  will not offer,  sell or otherwise  dispose of this Warrant or any
Common Stock to be issued upon  exercise  hereof or  conversion  thereof  except
under  circumstances  which will not result in a  violation  of the Act,  or any
state securities laws. Further, the Assignee has acknowledged that upon exercise
of this Warrant,  the Assignee  shall,  if requested by the Company,  confirm in
writing,  in a form  satisfactory  to the  Company,  that  the  Common  Stock so
purchased  are  being  acquired  for  investment  and  not  with a  view  toward
distribution or resale.

Dated:___________________________               ________________________________
                                                Signature of Holder

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                                       10LICENSE AGREEMENT AND TECHNOLOGY TRANSFER AGREEMENT

THIS AGREEMENT is made as of the 30th day of September, 2004 (the "Effective
Date"), by and between Calypte Biomedical Corporation ("Calypte"), a corporation
organized under the laws of the State of Delaware, U.S.A. and Ani Biotech Oy
("Ani"), a corporation organized under the laws of the country of Finland.

RECITALS

WHEREAS, Calypte develops, manufactures, markets and sells human in vitro
clinical diagnostic tests for the detection of human infectious agents in the
worldwide professional clinical diagnostic markets.

WHEREAS, Ani develops, manufactures, markets and sells various human in vitro
clinical diagnostic rapid tests under their own brand name or the brand name of
other parties for the worldwide professional and over-the-counter (OTC) clinical
diagnostic markets, and has applied for patents describing certain lateral-flow
rapid test devices and sample applicators.

WHEREAS, Ani desires to license and transfer to Calypte certain technology owned
by Ani that is related to the development, manufacture and sale of certain human
in vitro clinical diagnostic rapid tests.

WHEREAS, Calypte desires to develop, manufacture and sell on a worldwide basis
in the professional and OTC clinical diagnostic markets certain human in vitro
clinical diagnostic rapid tests based on technology owned by Ani.

NOW THEREFORE, the parties hereto agree as follows:

1. Definitions.

      1.1. "Affiliate" shall mean any corporation or other business enterprise
controlled by, controlling or under common control by Entity. For purposes of
this paragraph, "control" shall mean, with respect to an entity, direct or
indirect beneficial ownership of more than fifty percent (50%) of the voting
stock or equity.

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

      1.2. "Analytes" shall mean HIV, HPV, Hepatitis B, Hepatitis C, Syphilis,
Gonorrhea, and Chlamydia.

      1.3. "Best Price" shall mean the actual number of shares of Calypte common
stock transferred to Ani at any given time which shall be determined by using
the 5-day average closing stock price for Calypte common stock as listed on the
American Stock Exchange (AMEX) immediately before the date of said transfer,
provided however, the price at the time of transfer is equal to or greater than
the Threshold Price.

      1.4. "Confidential Information" of a party shall include any and all
material and information of such party whether identified as confidential
information or not, including, without limitation, ideas, inventions (whether
patentable or not), designs, product concepts, improvements, manufacturing
processes, quality standards, trade secrets, technical information relating to
ongoing research and development, business strategies, marketing plans, customer
lists, and financial data.

      1.5. "Currency Exchange Rate" shall mean the conversion from US Dollars to
Euros at the exchange rates posted by the Federal Reserve Bank of New York,
representing the 12 Noon Eastern Time buying rates on the day of said
conversion.

      1.6. "Entity" shall mean any corporation, partnership, joint venture, or
other such business organization.

      1.7. "Field of Use" shall mean human in vitro clinical diagnostic and
non-therapy screening rapid tests.

      1.8. "Improvement" shall mean all improvements and modifications made to
Licensed Technology or to Manufacturing Equipment by Ani during the term of this
Agreement.

      1.9. "License Fee" shall mean the license fee set forth in Section 3
hereof payable by Calypte to Ani for the licenses granted hereunder.

      1.10. "Licensed Products" shall mean human in vitro clinical diagnostic
and non-therapy screening tests incorporating Licensed Technology which are
designed by Calypte to detect Analytes in human blood, serum, plasma, urine,
oral fluids, or urogenital swabs.

      1.11. "Licensed Technology" shall mean human in vitro clinical diagnostic
and non-therapy screening rapid test and sample applicator device technology
described in: (i) European Patent Application *, and all issues, reissues,
amendments, divisions, continuations, continuations-in-part, and corresponding
foreign counterparts thereof; (ii) Finnish Patent Application *, and all issues,
reissues, amendments divisions, continuations, continuations-in-part, and
corresponding foreign counterparts thereof; and, (iii) all confidential know-how
proprietary to Ani needed to assist Calypte in developing and manufacturing
Licensed Products.

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

      1.12. "Manufacturing Equipment" shall mean all equipment set forth in
Section 5.1 and listed in Exhibit A.

      1.13. "Net Sales" shall mean the gross amount invoiced by Calypte or its
Affiliate from the sale of a Licensed Products to a Third Party within the
Territory and Field of Use, less the following actually incurred by Calypte as a
result of such amounts invoiced: shipping costs, insurance costs, custom duties,
sales tax, VAT, promotional discounts, rebates and returns. If Licensed Products
are sold in the form of a combination product containing one or more diagnostic
tests that are not Licensed Products under this Agreement, Net Sales for such
combination product shall be calculated by multiplying actual Net Sales of such
combination product by the fraction A/(A+B), where A is the list price in the
relevant country of the Licensed Product if sold separately and B is the total
list price in the relevant country of any other diagnostic tests in the
combination if sold separately. If, on a country-by-country basis, the Licensed
Products and other diagnostic tests contained in a combination product are not
sold separately in such country, the Net Sales of such combination product shall
be determined by multiplying the Net Sales of such combination product by the
fraction A/(A+B), where A is the number of Licensed Products in the combination
product and B is the number of other diagnostic tests in the combination product
that are not Licensed Products. The total of A+B shall not exceed two (2).

      1.14. "Territory" shall mean the worldwide professional and OTC human in
vitro clinical diagnostic markets.

      1.15. "Third Party" shall mean any party other than Calypte or Ani or an
Affiliate of either Calypte or Ani.

      1.16. "Threshold Price" shall mean a per share price for Calypte common
stock equal to or greater than $0.40.

      1.17. "Valid Patent Claims" shall mean any claim of any unexpired patent
covering Licensed Technology that has not been revoked, or held to be
unenforceable or invalid by a decision of a court or other government agency,
unappealable or unappealed within the time allowed for appeal.

2. Grants and Licenses.

      2.1. Subject to payment of the License Fee set forth in Section 3 and
royalties on net sales set forth in Section 4 as well as compliance with other
terms of this Agreement, Ani grants Calypte the following royalty-bearing
licenses to Licensed Technology and any Improvement within the Field of Use in
the Territory:

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

            2.1.1. Ani grants Calypte an exclusive license to make, use,
develop, have developed, manufacture, have manufactured, offer to sell, sell and
have sold Licensed Products utilizing urine or oral fluid as the sample material
under the Calypte brand name or the brand name of a Third Party; and,

            2.1.2. Ani grants Calypte a non-exclusive license to make, use,
develop, have developed, manufacture, have manufactured, offer to sell, sell and
have sold Licensed Products utilizing blood, serum, plasma, or urogenital swab
as the sample material under the Calypte brand name or the brand name of a Third
Party.

      2.2. Calypte shall have the right to sublicense to Affiliates of Calypte
the licenses granted in this Section 2. Calypte shall secure and be fully liable
that all sublicensees comply with all the terms of this Agreement, as
applicable.

      Calypte shall be liable for all claims of product liability resulting from
the manufacturing, marketing, sale and distribution of the Licensed Products by
Calypte, its Affiliates and its distributors. Calypte shall indemnify and hold
harmless Ani, its directors, employees and stockholders against any and all
third party liability claims resulting from the manufacturing, marketing, sale
and distribution of the Licensed Products.

3. License Fee.

      3.1. In consideration of the grant of the licenses set forth in Section 2,
Calypte shall pay Ani a non-refundable License Fee as follows:

        3.1.1.   *

        3.1.2.   *

      3.2. The License Fee paid by Calypte in Section 3.1 shall give Calypte the
right to incorporate any Improvement made by Ani into Licensed Products at no
additional cost to Calypte.

4. Royalties.

      4.1. Calypte shall pay Ani royalties on Net Sales of Licensed Products
according to the royalty rate schedule set forth in Exhibit B attached hereto.

            4.1.1. In the event Licensed Products contain more than one Analyte
per rapid test device, the royalty rate for such Licensed Products shall be
equal to the numerical average of the individual royalty rates set forth in
Exhibit B attached hereto for the individual Analytes contained in such Licensed
Products.

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

      4.2. Calypte's obligation to pay royalties hereunder shall exist until the
expiration of the last of any Valid Patent Claims. In the event no patents
covering Licensed Technology issue in the United States of America and it is
evident that such patent will not be issued, Calypte's royalty obligation shall
terminate in the United States of America on the tenth (10th) anniversary of the
Effective Date.

      4.3. All royalty payments payable under this Agreement shall be paid on a
quarterly basis, within forty-five (45) days after March 31st, June 30th,
September 30th and December 31st of each year.

      4.4. All royalty payments paid by Calypte under this Agreement shall be
paid in the lawful currency of the European Union (euros).

      4.5. Calypte shall keep, and shall require its Affiliates to keep, true,
complete and accurate books of accounts and records together with supporting
documentation for Licensed Products made, used or sold under this Agreement in
accordance with generally accepted accounting principles as applied in the
United States appropriate to determine the amount of royalties due hereunder and
their proper payment. Such records and supporting documentation shall be open
during normal business hours upon reasonable advance notice, at mutually agreed
upon times, for the longer of three (3) years or the time during which such
material should be held in accordance with applicable accounting regulations
following the end of the calendar year to which they pertain, to the inspection
of an independent certified public accountant retained by Ani for the sole
purpose of verifying the accuracy of the royalty payments made to Ani hereunder.
Such certified public accountant shall be entitled to obtain copies of any of
Calypte's or its Affiliates' documents reasonably necessary for the verification
of the amount of royalties and their proper payment. If in dispute, such records
shall be kept until the dispute is settled. Inspection shall be at Ani's
expense, unless the inspector concludes that the amount payable that is stated
in a report is understated by two percent (2%) or more or royalties were not
paid when due, in which case Calypte shall in addition to any other remedy that
may be available to Ani at law or in equity, pay Ani's reasonable expenses
incurred in connection with the inspection shall be paid by Calypte. The Parties
agree that any certified public accountant inspecting Calypte's books pursuant
to this Section 4.3 shall not disclose to Ani any information other than
information relating to the accuracy of reports and payments made hereunder.
Such accountant shall be required to execute an agreement with Calypte agreeing
to the confidentiality provisions set forth in this Section 4.3. Information
disclosed to Ani as a result of an inspection shall be subject to the
confidentiality provisions set forth in Section 8.

      4.6. In the event Calypte fails to pay the royalties described in this
Section 4 and Exhibit B on or before the last day of the time period set forth
in Section 4.2, such royalties shall bear interest from and after such date
until paid at a per annum rate equal to the US prime lending rate (Prime Rate)
plus three (3) percent as quoted in The Wall Street Journal for the thirty (30)
day period ending on the payment due date. Each such royalty payment when made
shall be accompanied by all accrued and unpaid interest. Ani shall also be
entitled to compensation for its reasonable collection costs.

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

      4.7. Calypte shall, within forty-five (45) days after March 31st, June
30th, September 30th and December 3lst of each year of this Agreement, deliver
to Ani a true and accurate written accounting royalty report for each calendar
quarter. Each such report shall set forth per Licensed Products per Analyte per
each country in which the Licensed Products have been sold: (i) the Net Sales;
(ii) all deductions from Net Sales made by Calypte pursuant to Section 1.10;
(iii) the royalties payable by Calypte to Ani pursuant to Section 4.1 and
Exhibit B; and, (iv) the product description/name per catalog code. Calypte
shall cooperate fully with any request by an authority or court to deliver
information about the buyers of Licensed Products distributed by Calypte or its
Affiliates.

      4.8. Each royalty report shall be made and sent by the due date to the
following addressees or any other address that Ani may provide in writing:

                           Ani Biotech Oy
                           Museokatu 13 B
                           00100 Helsinki Finland
                           Attn:  Dr. Aimo Niskanen, CEO
                           Telephone:  +358-20-1557515
                           Facsimile:  +358-20-1557517
                           Email:  aimo.niskanen@anibiotech.fi

5. Purchase of Manufacturing Equipment.

      5.1. Calypte shall purchase Manufacturing Equipment according to the
following price schedule:

                                    Quantity                  Purchase Price
*
                                           *                              *
*
                                           *                              *
*
                                           *                              *
*
                                           *                              *
*
                                           *                              *
                             Total Purchase Price:                        *

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

      5.2. The purchase price for Manufacturing Equipment set forth in Section
5.1 shall include: (i) installation at a Calypte designated facility; (ii) a one
(1) year factory warranty for parts and labor; (iii) reasonable training of
Calypte personnel in the use and maintenance of the said equipment at the
facilities of Ani in Finland on a time as mutually agreed between the parties;
and, (iv) a reasonable supply of spare parts as mutually agreed between the
parties.

5.3. Calypte shall make payment for the purchase of Manufacturing Equipment set
forth in Section 5.1 according to the following schedule:

        5.3.1.   *

        5.3.2.   *

        5.3.3.   *

      5.4. In the event Ani shall make improvements to Manufacturing Equipment,
Ani shall make available to Calypte all such improvements at mutually agreed
terms.

      5.5. Ani shall provide Calypte at no additional cost all existing and any
updated engineering drawings, diagrams, schematics and blueprints for all molds
used to manufacture all plastic sample applicator device parts and rapid test
device parts assembled by Manufacturing Equipment to be used solely within the
limits of the license granted in Section 2. Ani shall remain the owner of, and
shall retain all rights in and to, all such technical documentation.

      5.6. Calypte shall have the option to purchase all plastic sample
applicator component device parts and rapid test device component parts
assembled by Manufacturing Equipment directly from Ani at a price to be mutually
agreed between the parties. In no case shall the price paid by Calypte exceed
one hundred twenty percent (120%) of the price Ani pays for said component
parts. In the event, Ani's purchase price for said component parts decreases due
to the increased unit volume resulting from Calypte's purchase of said component
parts, Calypte shall be granted the same discount from the supplier as Ani for
the purchase of said component.

      5.7. Ani shall provide Calypte with a fully annotated detailed
Bill-of-Materials (BOM) for all parts assembled by Manufacturing Equipment to be
used solely for the purpose of repair of and acquiring of spare parts for the
Manufacturing Equipment. Such BOM shall include the units required per
sub-assembly, a listing of all vendors for component parts, sub-assemblies and
final assemblies, and any other information necessary to identify the requisite
parts needed for each sub-assembly and final assembly.

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

      5.8. Both parties shall conduct quality control and assurance testing on
Manufacturing Equipment prior to shipment to Calypte in order to confirm that
Manufacturing Equipment functions in accordance with the technical
specifications set forth in Exhibit A or documentation delivered together with
Manufacturing Equipment.

      5.9. Ani shall package and ship Manufacturing Equipment to Calypte's
designated facility. Manufacturing Equipment shall be properly packaged and
labeled in accordance with industry standards and customs at Ani's expense. All
such shipments shall be FOB Helsinki, Finland.

      5.10. Manufacturing Equipment received by Calypte at Calypte's designated
facility shall be subject to quality control testing by Calypte; such quality
control procedures used by Calypte to test Manufacturing Equipment shall be the
same quality control testing procedures used by Ani, and agreed to by Calypte,
to test Manufacturing Equipment prior to shipment from Finland.

      5.11. In the event there is a defect or non-conformity in Manufacturing
Equipment upon receipt by Calypte at Calypte's designated facility, Ani shall
promptly correct or repair such defect or non-conformity at Calypte's designated
facility, or in the event Ani is unable to promptly effect said repair, Calypte
shall have the right to return any such defective Manufacturing Equipment to Ani
for replacement. The shipping cost for returning any defective equipment shall
be at Ani's sole expense.

      5.12. Any remarks or reclamations regarding Manufacturing Equipment shall
be made within two (2) weeks from the date of completion of installation by Ani
at Calypte's designated facility. Should Ani not receive any such notices or
remarks from Calypte stating non-compliance of such equipment by the end of the
two (2) week period following completion of its installation, Calypte shall be
deemed to have approved and accepted the delivery and installation of such
equipment.

6. Technology Transfer.

      6.1. Ani and Calypte shall work together to reformat Calypte's current HIV
dipstick rapid test device and assay to perform as Licensed Products
(hereinafter known as the "Project"). Prior to commencing work on the Project,
Ani and Calypte shall prepare a mutually agreed upon research plan (hereinafter
known as the "Scope of Work") to define specifications, milestones and goals.
The results of the Project shall be the sole and exclusive property of Calypte.

      6.2. Ani and Calypte shall each be responsible for their own costs during
the Project and the transfer of Licensed Technology from Ani to Calypte. Calypte
may, under mutually agreed terms, hire Ani to consult on the further development
of Licensed Products in preparation for the commencement of human clinical
trials.

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

      6.3. Each party shall designate a Project Director to represent their
interests and serve as a central point of contact during the Project and the
transfer of Licensed Technology from Ani to Calypte.

      6.4. As part of the Project, Ani shall permit a reasonable number of
technical personnel designated by Calypte to study the design and manufacture of
products resulting from the Project at Ani's place of business. Calypte shall
advise Ani, in advance, the names, qualifications and probable lengths of stay
of Calypte's designated personnel desiring to visit Ani. Ani shall make
available qualified personnel for consultation with, and training of such
Calypte's personnel. The cost for transportation, meals, lodging and other
expenses of Calypte's personnel dispatched for training shall be borne by
Calypte. Such Calypte's personnel shall fully comply with Ani's security
regulations and personnel rules.

      6.5. As part of the Project, Ani shall transfer to Calypte all know-how
necessary to allow Calypte to develop and manufacture Licensed Products
including but not limited to all specifications for reagents and materials,
formula, manufacturing, analytical and testing procedures, release, packaging,
and other processes contained in any document related to Licensed Technology,
Licensed Products and the Project including all master formulas and process flow
diagrams.

      6.6. The transfer of Licensed Technology from Ani to Calypte shall be
accomplished in three (3) phases, and Licensed Technology shall be deemed
transferred upon the successful completion of Phase 3 as set forth below:

            6.6.1. Phase 1: Ani and Calypte shall demonstrate a laboratory-scale
prototype of an HIV-1/2 rapid test based on Licensed Technology meeting the
specifications set forth in the Scope of Work.

            6.6.2. Phase 2: Ani and Calypte shall demonstrate, at Ani's
facility, the successful pilot-scale manufacturing of the HIV-1/2 rapid test
developed in Section 6.6.1 using the Manufacturing Equipment purchased by
Calypte.

            6.6.3. Phase 3: Ani and Calypte shall demonstrate, at Calypte's
facility, the successful pilot-scale manufacturing of the HIV-1/2 rapid test
developed in Section 6.6.2 using the Manufacturing Equipment purchased by
Calypte.

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

7. Payments.

      7.1. Common Stock Payments.

        7.1.1.   *

        7.1.2.   *.

                7.1.2.1. *

        7.1.3.   *

        7.1.4.   *

      7.2. Cash Payments.

                          *

      7.3. In the event that any taxes, withholding or otherwise, are levied by
any government taxing authority in connection with accrual or payment of any
royalties payable to Ani under this Agreement, Calypte shall have the right to
pay such taxes to the local tax authorities on behalf of Ani and the payment to
Ani of the net amount due, after reduction by the amount of such taxes, shall
fully satisfy Calypte's royalty obligations under this Agreement, provided that
appropriate documentation of such tax payment, including evidence of payment and
receipt or any other appropriate documentation, is provided to Ani.

8. Confidentiality.

      8.1. Each party shall protect all Confidential Information of the other
party with the same degree of care as it uses to avoid unauthorized use,
disclosure, publication or dissemination of its own confidential information of
a similar nature, but in no event less than a reasonable degree of care.

      8.2. Except as provided in this Agreement, neither party shall use for its
own benefit or the benefit of any Third Party, or disclose, publish, release,
transfer or otherwise make available to any Third Party, any Confidential
Information of the other party without the other party's prior written consent.
Each of Calypte and Ani, however, shall be permitted to disclose Confidential
Information of the other to contractors and Third Parties, and its employees,
Affiliates, accountants, attorneys and other agents to the extent such
disclosure is reasonably necessary for the performance of its duties and
obligations hereunder or, with respect to Calypte, its use and enjoyment of the
Licensed Technology and Improvements. Each of Calypte and Ani shall be
responsible for any violation of the confidentiality obligations set forth
herein by any of the foregoing.

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

      8.3. The obligations in this Section 8 shall not restrict any disclosure
of Confidential Information received by one party (the "Receiving Party") from
the other party (the "Disclosing Party") where the Receiving Party can
demonstrate that: (a) such Confidential Information was independently developed
by the Receiving Party prior to its receipt thereof without violating its
obligations hereunder or any of the Disclosing Party's proprietary rights; (b)
such Confidential Information is or becomes publicly known (other than through
the unauthorized disclosure by the Receiving Party); (c) such Confidential
Information was already known to the Receiving Party prior to its receipt
thereof without any obligation of confidentiality; (d) such Confidential
Information is received by the Receiving Party from a Third Party without any
obligation of confidentiality; or (e) the Receiving Party is required to do so
pursuant to any applicable law (provide that the Receiving Party shall provide
reasonable prior written notice to the Disclosing Party of such disclosure).

      8.4. In addition to the foregoing, nothing contained in this Agreement
shall supercede the confidentiality requirements set forth in the
Confidentiality Agreement signed by the parties dated February 2, 2004, and its
Amendment signed by the parties on February 29, 2004 shall remain in full force
and effect.

9. Joint Investigation *

        9.1.     *

        9.2.     *

10. Term and Termination.

      10.1. This Agreement, unless earlier terminated in accordance with the
terms set forth herein, shall continue until the expiration of all Valid Patent
Claims. In the event no patents covering Licensed Technology issue in the United
States of America within ten (10) years of the Effective Date, this Agreement
shall terminate with respect to the United States of America but shall remain in
force and effect outside of the United States of America until expiration of all
Valid Patent Claims.

      10.2. This Agreement may be terminated by Calypte at any time by giving
written notice to Ani. The termination shall be effective six (6) months after
the date of notice. If the Agreement is terminated by Calypte, Calypte shall
cease manufacturing and selling Licensed Products within six (6) months after
the date of said notice.

      10.3. This Agreement may be terminated by Ani if Calypte materially
breaches this Agreement and Calypte has not cured such material breach within
ninety (90) days after receipt of written notice to Calypte by Ani specifying
the nature of such alleged material breach. Failure of Calypte to pay any amount
specified under this Agreement within thirty (30) days after the due date shall
be deemed a material breach, which shall entitle Ani to terminate the Agreement
with immediate effect with a written notice to Calypte.

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

      10.4. This Agreement shall terminate upon (i) an adjudication of Calypte
as bankrupt or insolvent, or admission in writing of its inability to pay its
obligations as they mature; (ii) an assignment of this Agreement by either Party
for the benefit of creditors; (iii) the appointment of, or Calypte applying for
or consenting to the appointment of, a receiver, trustee or similar officer for
a substantial part of its property; (iv) the institution of or any act of
Calypte instituting any bankruptcy, insolvency arrangement, or similar
proceeding; or (v) the issuance or levy of any judgment, writ, warrant of
attachment or execution or similar process against a substantial part of the
property of Calypte. Calypte may apply for reinstatement of this Agreement if
either of conditions (iii) or (v) is removed within ninety (90) days.

      10.5. Section 8 (Confidentiality), Section 10 (Term and Termination),
Section 11 (Dispute Resolution), Section 12 (Representations, Warranties and
Limitation of Liability), and Section 13 (General Provisions) shall survive
termination of this Agreement.

11. Dispute Resolution.

      11.1. Any dispute, controversy or claim arising from or relating to this
Agreement, or the breach, termination or invalidity thereof, will be settled by
arbitration in Hamburg, Germany, in accordance with the Rules of Arbitration of
the International Chamber of Commerce (the "Rules") by one or more arbitrators
appointed in accordance with the Rules. The award of the arbitration will be
final and binding upon the parties without appeal or review except as permitted
by German law. 12. Representations, Warranties and Limitation on Liability.

      12.1. Calypte represents and warrants: (a) It is a corporation validly
existing and in good standing under the laws of the State of Delaware; (b) The
execution, delivery and authority to execute and deliver this Agreement have
been duly authorized by all necessary corporate action on the part of Calypte;
(c) It has the corporate power and authority to execute and deliver this
Agreement and to perform its obligations under this Agreement; and, (d) All
shares of Calypte common stock have been duly authorized and upon issuance,
pursuant to the terms hereof and for the consideration herein set forth, will be
validly issued, fully paid and nonassessable.

      12.2. Ani represents and warrants: (a) It is a corporation validly
existing and in good standing under the laws of the country of Finland; (b) The
execution, delivery and authority to execute and deliver this Agreement have
been duly authorized by all necessary corporate action on the part of Ani; (c)
It has the corporate power and authority to execute and deliver this Agreement
and to perform its obligations under this Agreement; (d) Other than the grant
set forth herein, Ani has not encumbered, restricted, transferred or otherwise
burdened the Licensed Technology or Manufacturing Equipment; (e) It is not aware
of any claim of infringement by any other party in and to the Licensed
Technology; (f) Manufacturing Equipment shall be merchantable and fit for the
particular purpose it is being sold for hereunder; and, (g) Except as expressly
set forth herein, Ani hereby disclaims and negates any and all warranties,
whether express or implied, with respect to the Licensed Technology and
Improvement, or any rights hereunder transferred, including but not limited to,
any IMPLIED WARRANTY OF MERCHANTABILITY, NON-INFRINGEMENT OR FITNESS FOR ANY
PARTICULAR PURPOSE. Without limiting the generality of the foregoing, Ani makes
no representations or warranties as to the patentability, noninfringement, use
or other application of the Licensed Technology or any Improvement, or as to the
likelihood of the success of any research, development, testing, marketing or
other utilization of the Licensed Technology or any Improvement.

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

      12.3 Under no circumstances shall either party be liable to the other
party for any consequential, incidental, special, indirect or exemplary damages
arising out of or related to this Agreement, whether in contract, tort, strict
liability or any other legal theory, including without limitation, damages for
loss of profits, business interruption, or for any claim or demand against one
party by any other party, or other pecuniary loss.

13. General Provisions.

      13.1. Neither this Agreement nor any rights or obligations of a Party
under this Agreement may be assigned in whole or in part by such Party without
the prior written consent of the other Party, except that each Party may assign
this Agreement to an Affiliate or in connection with any merger, reorganization,
or consolidation with or into another Entity, or any sale or transfer of any of
its assets or business to a Third Party, provided however, the Third Party
agrees in writing to assume the assigning Party's obligations under this
Agreement. Any attempted assignment in violation hereof will be void.

      13.2. This Agreement will bind and inure to the benefit of the respective
successors and permitted assigns of the parties.

      13.3. This Agreement shall be construed and enforced in accordance with
the laws of the country of Germany without giving effect to its conflicts of law
principles.

      13.4. If any provision of this Agreement is unenforceable or invalid under
any applicable law or is so held by applicable court decision, such
unenforceability or invalidity will not render this Agreement unenforceable or
invalid as a whole and such provisions will be changed and interpreted so as to
best accomplish the objectives of such unenforceable or invalid provision within
the limits of applicable law or applicable court decisions.

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

      13.5. The failure of either party to require performance by the other
party of any provision of this Agreement will not affect the full right to
require such performance at any time thereafter; not will the waiver by either
party of a breach of any provision of this Agreement be taken or held to be a
waiver of the provision itself.

      13.6. Ani and Calypte shall consult with each other and shall conduct
themselves in a manner consistent with all current regulatory guidelines
governing the manufacture and sale of human in vitro clinical diagnostic
products. The parties shall use commercially reasonable efforts to provide
requisite facilities, staff and supplies necessary to fulfill their respective
obligations as set forth in this Agreement. Each party agrees to execute and
deliver any and all documents, and to perform such other acts as may be
reasonably necessary or expedient to carry out and make effective the purposes
and transactions contemplated by this Agreement.

      13.7. Information developed and produced during the course of the parties
fulfilling their obligations as set forth in the Agreement may be translated
into regulatory agency filings and manufacturing, packaging and quality control
procedures by the parties which will be reviewed and approved by both parties.
All such information, documentation and regulatory agency filings shall be the
sole property of Calypte. Calypte shall be solely responsible for complying with
requirements for testing, filings, marketing, advertising and other compliance
with applicable laws for Licensed Products sold by Calypte within the Territory.

      13.8. Neither party shall be responsible for any defaults or delays that
are due to causes beyond the party's control, including, but without limitation,
acts of God or public enemy, acts of a government or terrorist group, or total
or partial product recall (actual or threatened), fire, flood or other natural
disasters, embargoes, accidents, explosions, strike or other labor disturbances
(regardless of the reasonableness of the demands of labor), shortages of fuel,
power or raw materials, inability to obtain or delays of transportation
facilities, incidents of war, or other events causing the inability of the
party, acting in good faith with due diligence, to perform its obligations or
otherwise refrain from committing a breach.

      13.9. Neither party shall issue or cause to be issued any press release,
public announcement or disclosure of any kind or nature whatsoever or otherwise
disclose the existence of an agreement between the parties or the transactions
contemplated hereby except as is required by law, or SEC public disclosure
reporting requirements, or to the extent that both parties jointly agree to such
press release, public announcement or disclosure in advance and in writing.

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

      13.10. Nothing in this Agreement will be construed as creating any agency,
partnership, or other form of joint enterprise between the parties. Neither
party will have the authority to act or create any binding obligation on behalf
of the other party and neither party will represent to any third party that it
has the authority to act or create any binding obligation on behalf of the other
party.

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

      13.12. This Agreement, together with the Exhibits hereto, constitutes the
entire agreement between the Parties as to the subject matter hereof, and
supercedes all prior negotiations, representations, agreements and
understandings whether oral or written regarding such subject matter. This
Agreement may be modified or amended only by a writing executed by authorized
representatives of both of the parties.

      13.13. All notices, consents, waivers and other communications intended to
have legal effect under this Agreement must be in writing, must be delivered to
the other party at the address set forth below by personal delivery, certified
mail, postage pre-paid, or an internationally recognized overnight courier, and
will be effective upon receipt (or when delivery is refused). Each party may
change its address for receipt of notices by giving notice of the new address to
the other party pursuant to this Section:

                           If to Ani:

                                      Ani Biotech OY
                                      Museokatu 13 B
                                      00100 Helsinki Finland
                                      Attn:  Dr. Aimo Niskanen, CEO
                                      Telephone:  +358-20-1557515
                                      Facsimile:  +358-20-1557517
                                      Email:  aimo.niskanen@anibiotech.fi

                           If to Calypte:

                                      Calypte Biomedical Corporation
                                      5000 Hopyard Road, Suite 480
                                      Pleasanton, CA 94588 USA
                                      Attn:  Mr. Richard Brounstein, EVP & CFO
                                      Telephone:  (925) 730-7207
                                      Facsimile:  (925) 730-0146
                                      Email:  rbrounstein@calypte.com

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

                                 SIGNATURE PAGE

IN WITNESS WHEREOF, Ani and Calypte have executed this Agreement as of the date
first shown above.

FOR ANI BIOTECH OY:                         FOR CALYPTE BIOMEDICAL:

/s/ Aimo Niskanen                           /s/ J. Richard George
--------------------------------------      ------------------------------------
Dr. Aimo Niskanen                           Dr. Richard George

President & CEO                             President & CEO
--------------------------------------      ------------------------------------
Title                                       Title

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.
<PAGE>

                                    EXHIBIT A

                             MANUFACTURING EQUIPMENT

*

                                    EXHIBIT B

                                  ROYALTY RATES

*

Certain information in this document, denoted by the symbol *, has been omitted
and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.

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