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Exhibit 4.1  

  
 

    STOCK PURCHASE AGREEMENT    
  

IntraBiotics
Pharmaceuticals, Inc.

1245 Terra Bella Avenue

Mountain View, California 94043 

        The
undersigned (the "Investor"), hereby confirms its agreement with you as follows: 

        1.    This Stock Purchase Agreement (the "Agreement") is made as of the date set forth below between  IntraBiotics
Pharmaceuticals, Inc., a Delaware corporation (the "Company"), and the Investor. 

        2.    The Company has authorized the sale and issuance of up
to                        shares (the "Shares") of common stock of the
Company, $0.001 par value per share (the "Common Stock"), subject to adjustment by the Company's Board of Directors, to certain investors in a private placement (the "Offering"). 

        3.    The Company and the Investor agree that the Investor will purchase from the Company and the Company will issue and sell to
the Investor                        shares, for a purchase price of
$                        per share, or an aggregate purchase price of
$                        , pursuant to the Terms and Conditions for Purchase of Shares
attached hereto as Annex I and incorporated herein by this reference as if fully set forth herein. Unless otherwise requested by the Investor,
certificates representing the Shares purchased by the Investor will be registered in the Investor's name and address as set forth below. 

        4.    The Investor represents that, except as set forth below, (a) it has had no position, office or other material
relationship within the past three years with the Company or its affiliates, (b) neither it, nor any group of which it is a member or to which it is related, beneficially owns (including the
right to
acquire or vote) any securities of the Company and (c) it has no direct or indirect affiliation or association with any NASD member. Exceptions: 

(If no exceptions, write "none." If left blank, response will be deemed to be "none.") 

        Please
confirm that the foregoing correctly sets forth the agreement between us by signing in the space provided below for that purpose. 

	 	 	 	Dated as of:                        , 2002
	

 	

 	
 	

 	

 
	 	 	 	
"INVESTOR"
	

 	

 	
 	
By:	

    

	 	 	 	Print Name:	    

	 	 	 	Title:	    

	 	 	 	Address:	    

	 	 	 	    

	AGREED AND ACCEPTED:	 	 	 
	INTRABIOTICS PHARMACEUTICALS, INC.	 	 	 
	

By:	

    
	
 	

 	

 
	Title:	    
	 	 	 

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ANNEX I    
    
    TERMS AND CONDITIONS FOR PURCHASE OF SHARES    
  

        1.    Authorization and Sale of the Shares.    Subject to the terms and conditions of this Agreement, the Company has
authorized the sale of the Shares. 

        2.    Agreement to Sell and Purchase the Shares; Subscription Date.    

        2.1  At the Closing (as defined in Section 3), the Company will sell to the Investor, and the Investor will purchase
from the Company, upon the terms and conditions hereinafter set forth, the number of Shares set forth on the signature page to which these Terms and Conditions for Purchase of Shares are attached as  Annex
I (the "Signature Page") at the purchase price set forth on such Signature Page. 

        2.2  The Company proposes to enter into this same form of Stock Purchase Agreement with certain other investors (the "Other
Investors") and expects to complete sales of Shares to them. (The Investor and the Other Investors are hereinafter sometimes collectively referred to as the "Investors," and this Agreement and the
Stock Purchase Agreements executed by the Other Investors are hereinafter sometimes collectively referred to as the "Agreements.") The Company will accept executed Agreements from Investors for the
purchase of Shares commencing upon the date on which the Company provides the Investors with the proposed purchase price per Share and concluding upon the date (the "Subscription Date") on which the
Company has (i) executed Agreements with Investors for the purchase of Shares and (ii) notified the Investors that it is no longer accepting Agreements from Investors for the purchase of
Shares. 

        2.3  Investor acknowledges that the Company has engaged services of a finder and intends to pay the finder a fee in respect of
the sale of Shares to the Investor. 

        3.    Delivery of the Shares at Closing.    The completion of the purchase and sale of the Shares (the "Closing")
shall occur on Friday, February 1, 2002 or, at the Company's discretion, on such other date
within ten (10) days thereafter at a place and time (the "Closing Date") to be specified by the Company, and of which the Investors will be notified in advance by the Company. At the Closing,
the Investor shall deliver immediately available funds in the amount of the aggregate purchase price for the Shares by wire transfer to an account designated by the Company. At the Closing, the
Company shall deliver to the Investor, versus payment therefor, one or more stock certificates representing the number of Shares set forth on the Signature Page hereto, each such certificate to be
registered in the name of the Investor or, if so indicated on the Stock Certificate Questionnaire attached hereto as Exhibit A, in the name of a
nominee designated by the Investor. 

        The
Company's obligation to issue the Shares to the Investor shall be subject to the following conditions, any one or more of which may be waived by the Company: (a) receipt by
the Company of the purchase price for the Shares being purchased hereunder as set forth on the Signature Page hereto; (b) completion of purchases and sales under the Agreements with the Other
Investors; and (c) the accuracy of the representations and warranties made by the Investors and the fulfillment of those undertakings of the Investors to be fulfilled prior to the Closing. 

        The
Investor's obligation to purchase the Shares shall be subject to the following condition, which may be waived by the Investor: Investors shall have executed Agreements for the
purchase of Shares. Subject to foregoing sentence, the Investor's obligations are expressly not conditioned on the purchase by any or all of the Other Investors of the Shares that they have agreed to
purchase from the Company. 

        4.    Representations, Warranties and Covenants of the Company.    Except as otherwise described in the Company's
regular reports on Form 10-Q, 10-K and 8-K as filed by the Company with the Securities and Exchange Commission in 2001 and in 2002, if applicable, up to the
date hereof, (the "SEC Documents") and in the Company's press releases since September 30, 2001 (including the 

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documents incorporated by reference therein, the "Company Information"), which qualifies the following representations and warranties in their entirety, the Company hereby represents and warrants to,
and covenants with, the Investor, as follows: 

        4.1    Organization.    The Company is duly incorporated and validly
existing in good standing under the laws of the jurisdiction of its organization. The Company has full power and authority to own, operate and occupy its properties and to conduct its business as
presently conducted and is registered or qualified to do business and in good standing in each jurisdiction in which it owns or leases property or transacts business and where the failure to be so
qualified would have a material adverse effect upon the business, financial condition, properties or operations of the Company ("Material Adverse Effect"), and no proceeding has been instituted in any
such jurisdiction revoking, limiting or curtailing, or seeking to revoke, limit or curtail, such power and authority or qualification. 

        4.2    Due Authorization.    The Company has all requisite power and
authority to execute, deliver and perform its obligations under the Agreements, and the Agreements have been duly authorized and
validly executed and delivered by the Company and constitute legal, valid and binding agreements of the Company enforceable against the Company in accordance with their terms, except as rights to
indemnity and contribution may be limited by state or federal securities laws or the public policy underlying such laws, except as enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting creditors' and contracting parties' rights generally and except as enforceability may be subject to general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law). 

        4.3    Non-Contravention.    The execution and delivery of
the Agreements, the issuance and sale of the Shares to be sold by the Company under the Agreements, the fulfillment of the terms of the Agreements and the consummation of the transactions contemplated
thereby will not (A) conflict with or constitute a violation of, or default (with the passage of time or otherwise) under, (i) any material bond, debenture, note or other evidence of
indebtedness, or any material lease, contract, indenture, mortgage, deed of trust, loan agreement, joint venture or other agreement or instrument to which the Company is a party or by which it or its
property is bound, where such conflict, violation or default is likely to result in a Material Adverse Effect, (ii) the charter, by-laws or other organizational documents of the
Company, or (iii) any law, administrative regulation, ordinance or order of any court or governmental agency, arbitration panel or authority binding upon the Company or its property, where such
conflict, violation or default is likely to result in a Material Adverse Effect, or (B) result in the creation or imposition of any lien, encumbrance, claim, security interest or restriction
whatsoever upon any of the material properties or assets of the Company or an acceleration of indebtedness pursuant to any obligation, agreement or condition contained in any material bond, debenture,
note or any other evidence of indebtedness or any material indenture, mortgage, deed of trust or any other agreement or instrument to which the Company is a party or by which it is bound or to which
any of the property or assets of the Company is subject. No consent, approval, authorization or other order of, or registration, qualification or filing with, any regulatory body, administrative
agency, or other governmental body in the United States is required for the execution and delivery of the Agreements and the valid issuance and sale of the Shares to be sold pursuant to the
Agreements, other than such as have been made or obtained, and except for any securities filings required to be made under federal or state securities laws. 

        4.4    Capitalization.    The capitalization of the Company is
described in the Company's SEC Documents. The Company has not issued any capital stock since September 30, 2001 other than pursuant to employee benefit plans disclosed in the Company's SEC
Documents. The Shares to be sold pursuant to the Agreements have been duly authorized, and when issued and paid for in accordance with the terms of the Agreements, will be duly and validly issued,
fully paid and 

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nonassessable. The outstanding shares of capital stock of the Company have been duly and validly issued and are fully paid and nonassessable, have been issued in compliance with all federal and state
securities laws, and were not issued in violation of any preemptive rights or similar rights to subscribe for or purchase securities. Except as set forth in or contemplated by the Company's SEC
Documents, there are no outstanding rights (including, without limitation, preemptive rights), material warrants or options to acquire, or instruments convertible into or exchangeable for, any
unissued shares of capital stock or other equity interest in the Company, or any contract, commitment, agreement, understanding or arrangement of any kind to which the Company is a party and relating
to the issuance or sale of any capital stock of the Company, any such convertible or exchangeable securities or any such rights, warrants or options. Without limiting the foregoing, no preemptive
right, co-sale right, registration right, right of first refusal or other similar right exists with respect to the issuance and sale of the Shares.
Except as disclosed in the Company's SEC Documents, there are no stockholders agreements, voting agreements or other similar agreements with respect to the Common Stock to which the Company is a
party. 

        4.5    Legal Proceedings.    There is no material legal or
governmental proceeding pending to which the Company is a party or of which the business or property of the Company is subject that is not disclosed in the Company's SEC Documents. 

        4.6    No Violations.    The Company is not in violation of its
charter, bylaws or other organizational document, or in violation of any law, administrative regulation, ordinance or order of any court or governmental agency, arbitration panel or authority
applicable to the Company, which violation, individually or in the aggregate, would be reasonably likely to have a Material Adverse Effect, or is not in default (and there exists no condition which,
with the passage of time or otherwise, would constitute a default) in the performance of any material bond, debenture, note or any other evidence of indebtedness in any indenture, mortgage, deed of
trust or any other material agreement or instrument to which the Company is a party or by which the Company is bound or by which the property of the Company is bound, which would be reasonably likely
to have a Material Adverse Effect. 

        4.7    Governmental Permits, Etc.    With the exception of the matters
which are dealt with separately in Sections 4.1, 4.12, and 4.13 and except as disclosed in the SEC Documents, the Company has all necessary franchises, licenses, certificates and other authorizations
from any foreign, federal, state or local government or governmental agency, department or body that are currently necessary for the operation of the business of the Company as currently conducted
except where the failure to currently possess could not reasonably be expected to have a Material Adverse Effect. 

        4.8    Intellectual Property.    

        (a)  The Company has ownership or license or legal right to use all patent, copyright, trade secret, trademark, customer
lists, designs, manufacturing or other processes, computer software, systems, data compilation, research results or other proprietary rights used in the business of the Company and material to the
Company (collectively, "Intellectual Property"), other than Intellectual Property generally available on commercial terms from other sources. All of such patents, trademarks and registered copyrights
have been duly registered in, filed in or issued by the United States Patent and Trademark Office, the United States Register of Copyrights or the corresponding offices of other jurisdictions and have
been maintained and renewed in accordance with all applicable provisions of law and administrative regulations in the United States and all such jurisdictions. 

        (b)  All material licenses or other material agreements under which (i) the Company is granted rights in Intellectual
Property, other than Intellectual Property generally available on commercial terms from other sources, and (ii) the Company has granted rights to others in 

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Intellectual Property owned or licensed by the Company, are in full force and effect and, to the knowledge of the Company, there is no material default by the Company thereunder. 

        (c)  The Company believes it has taken all steps required in accordance with sound business practice and business judgment to
establish and preserve its ownership of all material copyright, trade secret and other proprietary rights with respect to its products and technology. 

        (d)  To the knowledge of the Company, the present business, activities and products of the Company do not infringe any
intellectual property of any other person, except where such infringement would not have a Material Adverse Effect on the Company. No proceeding charging the Company with infringement of any adversely
held Intellectual Property has been filed. To the Company's knowledge, there exists no unexpired patent or patent application held by any other person which includes claims that would be infringed by
or otherwise have a Material Adverse Effect on the Company. To the knowledge of the Company, the Company is not making unauthorized use of any confidential information or trade secrets of any person.
Neither the Company nor, to the knowledge of the Company, any of its employees have any agreements or arrangements with any persons other than the Company related to confidential information or trade
secrets of such persons or restricting any such employee's engagement in business activities of any nature. 

        (e)  No proceedings have been instituted or are pending which challenge in a material manner the rights of the Company in
respect to the Company's right to the use of the Intellectual Property. The Company has the right to use, free and clear of material claims or rights of other persons, all of its customer lists,
designs, computer software, systems, data compilations, and other information that are required for its products or its business as presently conducted. 

        4.9    Financial Statements.    The financial statements of the
Company and the related notes contained in the Company's SEC Documents present fairly, in accordance with generally accepted accounting principles, the financial position of the Company as of the
dates indicated, and the results of its operations and cash flows for the periods therein specified. Such financial statements (including the related notes) have been prepared in accordance with
generally accepted accounting principles applied on a consistent basis throughout the periods therein specified, except as disclosed in the Company's SEC Documents. 

        4.10    No Material Adverse Change.    Except as disclosed in the
Company's press releases or other Proprietary Information provided to the Investor in contemplation of this Offering, since September 30, 2001, there has not been (i) any Material
Adverse Effect affecting the Company, (ii) any obligation, direct or contingent, that is material to the Company considered as one enterprise, incurred by the Company, except obligations
incurred in the ordinary course of business, (iii) any dividend or distribution of any kind declared, paid or made on the capital stock of the Company, or (iv) any loss or damage
(whether or not insured) to the physical property of the Company which has been sustained which has a Material Adverse Effect. 

        4.11    NASDAQ Compliance.    The Company's Common Stock is registered
pursuant to Section 12(g) of the Exchange Act of 1934, as amended (the "Exchange Act"), and is listed on The Nasdaq National Market (the "Nasdaq Stock Market"), and the Company has taken no
action designed to, or likely to have the effect of, terminating the registration of the Common Stock under the Exchange Act or delisting the Common Stock from the Nasdaq Stock Market. 

        4.12    Reporting Status.    The Company has filed in a timely manner
all documents that the Company was required to file under the Securities Exchange Act during the 12 months preceding the date of this Agreement. The following documents complied in all material
respects with the SEC's requirements as of their respective filing dates, and the information contained therein as of 

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the date thereof did not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein in light of the
circumstances under where they were made not misleading: 

        (a)  The Company's Annual Report on Form 10-K for the year ended December 31, 2000 (the
"10-K"); 

        (b)  The Company's Quarterly Reports on Form 10-Q for each of the quarters ended March 31, 2001,
June 30, 2001and September 30, 2001; and 

        (c)  All other documents, if any, filed by the Company with the Securities and Exchange Commission since December 31,
2000 pursuant to the reporting requirements of the Exchange Act. 

        4.13    Listing.    The Company shall comply with all requirements of
the National Association of Securities Dealers, Inc. with respect to the issuance of the Shares and the listing thereof on the Nasdaq Stock Market. 

        4.14    Foreign Corrupt Practices.    Neither the Company nor, to the
knowledge of the Company, any agent or other person acting on behalf of the Company, have (i) directly or indirectly, used any corporate funds for unlawful contributions, gifts, entertainment
or other unlawful expenses related to foreign or domestic political activity, (ii) made any unlawful payment to foreign or domestic government officials or employees or to foreign or domestic
political parties or campaigns from corporate funds, (iii) failed to disclose fully any contribution made by the Company or made by any person acting on its behalf and of which the Company is
aware in violation of law or (iv) violated in any material respect any provision of the Foreign Corrupt Practices Act of 1977, as amended. 

        4.15    No Manipulation of Stock.    The Company has not taken and
will not, in violation of applicable law, take, any action outside the ordinary course of business designed to or that might reasonably be expected to cause or result in unlawful manipulation of the
price of the Common Stock to facilitate the sale or resale of the Shares. 

        4.16    Accountants.    Ernst & Young LLP, which the Company
expects will express their opinion with respect to the financial statements to be incorporated by reference from the Company's Annual Report on Form 10-K for the year ended
December 31, 2001 into the Registration Statement (as defined below) and the Prospectus which forms a part thereof, are independent accountants as required by the Securities Act of 1933, as
amended (the "Securities Act"), and the rules and regulations promulgated thereunder (the "Rules and Regulations"). 

        4.17    Contracts.    The contracts described in the SEC Documents or
incorporated by reference therein that are material to the Company are in full force and effect on the date hereof, and neither the Company nor, to the Company's knowledge, any other party to such
contracts is in breach of or default under any of such contracts which would have a Material Adverse Effect on the Company. 

        4.18    Taxes.    The Company has filed all necessary federal, state
and foreign income and franchise tax returns and has paid or accrued all taxes shown as due thereon, and the Company has no knowledge of a tax deficiency which has been or might be asserted or
threatened against it which would have a Material Adverse Effect. 

        4.19    Transfer Taxes.    On the Closing Date, all stock transfer or
other taxes (other than income taxes) which are required to be paid in connection with the sale and transfer of the Shares to be sold to the Investor hereunder will be, or will have been, fully paid
or provided for by the Company and all laws imposing such taxes will be or will have been fully complied with. 

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        4.20    Investment Company.    The Company is not an "investment
company" or an "affiliated person" of, or "promoter" or "principal underwriter" for an investment company, within the meaning of the Investment Company Act of 1940, as amended. 

        4.21    Insurance.    The Company maintains and will continue to
maintain insurance of the types and in the amounts that the Company reasonably believes is adequate for its business, including, but not limited to, insurance covering all real and personal property
owned or leased by the Company against theft, damage, destruction, acts of vandalism and all other risks customarily insured against by similarly situated companies, all of which insurance is in full
force and effect. 

        4.22    Legal Opinion.    The Company shall cause to be delivered to
the Investors by counsel to the Company a customary legal opinion pertaining to the availability of an exemption from the registration provisions of the Securities Act. 

        4.23    Offering Materials.    Other than the SEC Documents (the
"Offering Materials"), the Company has not distributed and will not distribute prior to the Closing Date any offering material in connection with the offering and sale of the Shares. The Company has
not in the past nor will it hereafter take any action to sell, offer for sale or solicit offers to buy any securities of the Company which would bring the offer, issuance or sale of the Shares, as
contemplated by this Agreement, within the provisions of Section 5 of the Securities Act, unless such offer, issuance or sale was or shall be within the exemptions of Section 4 of the
Securities Act. 

        4.24    Disclosure.    The information contained in the SEC Documents
as of the date of such information did not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in
light of the circumstances under which they were made, not misleading. 

        5.    Representations, Warranties and Covenants of the Investor.    

        5.1  The Investor represents and warrants to, and covenants with, the Company that: (i) the Investor is an "accredited
investor" as defined in Regulation D under the Securities Act and the Investor, together with its purchaser representative, if any, is also knowledgeable, sophisticated and experienced in
making, and is qualified to make decisions with respect to, investments in shares presenting an investment decision like that involved in the purchase of the Shares, including investments in
securities issued by the Company and investments in comparable companies, and has requested, received, reviewed and considered all information it deemed relevant in making an informed decision to
purchase the Shares; (ii) the Investor is acquiring the number of Shares set forth on the Signature Page hereto in the ordinary course of its business and for its own account for investment
only and with no present intention of distributing any of such Shares or any arrangement or understanding with any other persons regarding the distribution of such Shares; (iii) the Investor
will not, directly or indirectly, offer, sell, pledge, transfer or otherwise dispose of (or solicit any offers to buy, purchase or otherwise acquire or take a pledge of) any of the Shares except in
compliance with the Securities Act, applicable state securities laws and the respective rules and regulations promulgated thereunder; (iv) the Investor has answered all questions on the
Signature Page hereto and the Investor Questionnaire attached hereto as Exhibit B for use in preparation of the Registration Statement and the
answers thereto are true and correct as of the date hereof and will be true and correct as of the Closing Date; (v) the Investor will notify the Company immediately of any material change in
any of such information until such time as the Investor has sold all of its Shares or until the Company is no longer required to keep the Registration Statement effective; and (vi) the Investor
has, in connection with its decision to purchase the number of Shares set forth on the Signature Page hereto, relied only upon the Company Information provided to the Investor by the Company in
contemplation of this offering and the representations and warranties of the Company contained herein. Investor understands that its acquisition of the Shares has not been registered under the
Securities Act or registered 

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or qualified under any state securities law in reliance on specific exemptions therefrom, which exemptions may depend upon, among other things, the bona fide nature of the Investor's investment
intent as expressed herein. Investor has completed or caused to be completed and delivered to the Company the Investor Questionnaire attached hereto  Exhibit B, which questionnaire is true
and correct in all material respects. 

        5.2  The Investor acknowledges, represents and agrees that no action has been or will be taken in any jurisdiction outside the
United States by the Company, or any agents acting on behalf of the Company, that would permit an offering of the Shares, or possession or distribution of offering materials in connection with the
issue of the Shares, in any jurisdiction outside the United States where action for that purpose is required. Each Investor outside the United States will comply with all applicable laws and
regulations in each foreign jurisdiction in which it purchases, offers, sells or delivers Shares or has in its possession or distributes any offering material, in all cases at its own expense. 

        5.3  The Investor hereby covenants with the Company not to make any sale of the Shares without complying with the provisions
of this Agreement, including Section 7.2 hereof, and if selling the Shares pursuant to the Registration Statement, without effectively causing the prospectus delivery requirement under the
Securities Act to be satisfied. The Investor acknowledges that the certificates evidencing the Shares will be imprinted with a legend that prohibits their transfer except in accordance therewith. The
Investor acknowledges that there may occasionally be times when the Company, based on the advice of its counsel, determines that it must suspend the use of the Prospectus forming a part of the
Registration Statement until such time as an amendment to the Registration Statement has been filed by the Company and declared effective by the SEC or until the Company has amended or supplemented
such Prospectus. 

        5.4  The Investor further represents and warrants to, and covenants with, the Company that (i) the Investor has full
right, power, authority and capacity to enter into this Agreement and to consummate the transactions contemplated hereby and has taken all necessary action to authorize the execution, delivery and
performance of this Agreement, and (ii) this Agreement constitutes a valid and binding obligation of the Investor enforceable against the Investor in accordance with its terms, except as rights
to indemnity and contribution may be limited by state or federal securities laws or the public policy underlying such laws, except as enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium or similar laws affecting creditors' and contracting parties' rights generally and except as enforceability may be subject to general principles of equity
(regardless of whether such enforceability is considered in a proceeding in equity or at law). 

        5.5  Investor will not, prior to the effectiveness of the Registration Statement, sell, offer to sell, solicit offers to buy,
dispose of, loan, pledge or grant any right with respect to (collectively, a "Disposition"), the Shares, nor will Investor engage in any hedging or other transaction which is designed to or could
reasonably be expected to lead to or result in a Disposition of Shares by the Investor or any other person or entity. Such prohibited hedging or other transactions would include, without limitation,
effecting any short sale or having in effect any short position (whether or not such sale or position is against the box and regardless of when such position was entered into) or any purchase, sale or
grant
of any right (including, without limitation, any put or call option) with respect to the Shares or with respect to any security (other than a broad-based market basket or index) that includes, relates
to or derives any significant part of its value from the Shares. 

        5.6  The Investor understands that nothing in this Agreement or any other materials presented to the Investor in connection
with the purchase and sale of the Shares constitutes legal, tax or investment advice. The Investor has consulted such legal, tax and investment 

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advisors as it, in its sole discretion, has deemed necessary or appropriate in connection with its purchase of Shares. 

        6.    Survival of Representations, Warranties and Agreements.    Notwithstanding any investigation made by any party
to this Agreement, all covenants, agreements, representations and warranties made by the Company and the Investor herein shall survive the execution of this Agreement, the delivery to the Investor of
the Shares being purchased and the payment therefor. 

        7.    Registration of the Shares; Compliance with the Securities Act.    

        7.1    Registration Procedures and Expenses.    The Company shall: 

        (a)  subject to receipt of necessary information from the Investors, prepare and file with the SEC, as soon as practicable,
but in no event later than fifteen (15) days after the Closing Date, a registration statement on Form S-3 (the "Registration Statement") to enable the resale of the Shares by
the Investors from time to time through the automated quotation system of the Nasdaq Stock Market or in privately-negotiated transactions; 

        (b)  use its best efforts, subject to receipt of necessary information from the Investors, to cause the Registration Statement
to become effective as soon as practicable, but in no event later than ninety (90) days after the Registration Statement is filed by the Company; 

        (c)  use its best efforts to prepare and file with the SEC such amendments and supplements to the Registration Statement and
the Prospectus used in connection therewith as may be necessary to keep the Registration Statement current and effective for a period not exceeding, with respect to each Investor's Shares purchased
hereunder, the earlier of (i) the second anniversary of the Closing Date, (ii) the date on which the Investor may sell all Shares then held by the Investor without restriction by the
volume limitations of Rule 144(e) of the Securities Act or (iii) such time as all Shares purchased by such Investor in this Offering have been sold pursuant to a registration statement; 

        (d)  furnish to the Investor with respect to the Shares registered under the Registration Statement such number of copies of
the Registration Statement, Prospectuses and Preliminary Prospectuses in conformity with the requirements of the Securities Act and such other documents as the Investor may reasonably request, in
order to facilitate the public sale or other disposition of all or any of the Shares by the Investor, provided, however, that the obligation of the
Company to deliver copies of Prospectuses or Preliminary Prospectuses to the Investor shall be subject to the receipt by the Company of reasonable assurances from the Investor that the Investor will
comply with the applicable provisions of the Securities Act and of such other securities or blue sky laws as may be applicable in connection with any use of such Prospectuses or Preliminary
Prospectuses; 

        (e)  file documents required of the Company for normal blue sky clearance in states specified in writing by the Investor,  provided, however, that the Company
shall not be required to qualify to do business or consent to service of process in any jurisdiction in which it is
not now so qualified or has not so consented; 

        (f)    bear all expenses in connection with the procedures in paragraph (a) through (e) of this Section 7.1
and the registration of the Shares pursuant to the Registration Statement; and 

        (g)  advise the Investors, promptly after it shall receive notice or obtain knowledge of the issuance of any stop order by the
SEC delaying or suspending the effectiveness of the Registration Statement or of the initiation of any proceeding for that purpose; and it will promptly use its commercially reasonable efforts to
prevent the issuance of any stop order or to obtain its withdrawal at the earliest possible moment if such stop order should be issued. 

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        (h)  With a view to making available to the Investor the benefits of Rule 144 (or its successor rule) and any other
rule or regulation of the SEC that may at any time permit the Investor to sell Shares to the public without registration, the Company covenants and agrees to: (i) make and keep public
information available, as those terms are understood and defined in Rule 144, until the earlier of (A) such date as all of the Investor's Shares may be resold pursuant to
Rule 144(k) or any other rule of similar effect or (B) such date as all of the Investor's Shares shall have been resold; (ii) file with the SEC in a timely manner all reports and
other documents required of the Company under the Securities Act and under the Exchange Act; and (iii) furnish to the Investor upon request, as long as the Investor owns any Shares,
(A) a written statement by the Company that it has complied with the reporting requirements of the Securities Act and the Exchange Act, (B) a copy of the Company's most recent Annual
Report on Form 10-K or Quarterly Report on Form 10-Q, and (C) such other information as may be reasonably requested in order to avail the Investor of any
rule or regulation of the SEC that permits the selling of any such Shares without registration. 

        It
shall be a condition precedent to the obligations of the Company to take any action pursuant to this Section 7.1 that the Investor shall furnish to the Company such information
regarding itself, the Shares to be sold by Investor, and the intended method of disposition of such securities as shall be required to effect the registration of the Shares. 

        The
Company understands that the Investor disclaims being an underwriter, but the Investor being deemed an underwriter by the SEC shall not relieve the Company of any obligations it has
hereunder, provided, however, that if the Company receives notification from the SEC that the Investor is deemed an underwriter, then the period by
which the Company is obligated to submit an acceleration request to the SEC shall be extended to the earlier of (i) the 90th day after such SEC notification, or (ii) 120 days
after the initial filing of the Registration Statement with the SEC. 

        7.2    Transfer of Shares After Registration; Suspension.    

        (a)  The Investor agrees that it will not effect any Disposition of the Shares or its right to purchase the Shares that would
constitute a sale within the meaning of the Securities Act except as contemplated in the Registration Statement referred to in Section 7.1, including any means of sale that would be permissible
under the Securities Act under the circumstances, and as described below, and that it will promptly notify the Company of any changes in the information set forth in the Registration Statement
regarding the Investor or its plan of distribution. 

        (b)  Except in the event that paragraph (c) below applies, the Company shall: (i) if deemed necessary by the
Company, prepare and file from time to time with the SEC a post-effective amendment to the Registration Statement or a supplement to the related Prospectus or a supplement or amendment to
any document incorporated therein by reference or file any other required document so that such Registration Statement will not contain an untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary to make the statements therein not misleading, and so that, as thereafter delivered to purchasers of the Shares being sold thereunder, such
Prospectus will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading; (ii) provide the Investor copies of any documents filed pursuant to Section 7.2(b)(i); and (iii) inform each Investor
that the Company has complied with its obligations in Section 7.2(b)(i) (or that, if the Company has filed a post-effective amendment to the Registration Statement which has
not yet been declared effective, the Company will notify the Investor to that effect, will use its reasonable efforts to secure the effectiveness of such post-effective amendment as
promptly as possible and will promptly 

10

 

notify the Investor pursuant to Section 7.2(b)(i) hereof when the amendment has become effective). 

        (c)  Subject to paragraph (d) below, in the event: (i) of any request by the SEC or any other federal or state
governmental authority during the period of effectiveness of the Registration Statement for amendments or supplements to a Registration Statement or related Prospectus or for additional
information; (ii) of the issuance by the SEC or any other federal or state governmental authority of any stop order suspending the effectiveness of a Registration Statement or the initiation of
any proceedings for that purpose; (iii) of the receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the
Shares for sale in any jurisdiction or the initiation of any proceeding for such purpose; or (iv) of any event or circumstance which necessitates the making of any changes in the Registration
Statement or Prospectus, or any document incorporated or deemed to be incorporated therein by reference, so that, in the case of the Registration Statement, it will not contain any untrue statement of
a material fact or any omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading, and that in the case of the Prospectus, it will not
contain any untrue statement of a material fact or any omission to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading; then the Company shall deliver a certificate in writing to the Investor (the "Suspension Notice") to the effect of the foregoing and, upon receipt of such
Suspension Notice, the Investor will refrain from selling any Shares pursuant to the Registration Statement (a "Suspension") until the Investor's receipt of copies of a supplemented or amended
Prospectus prepared and filed by the Company, or until it is advised in writing by the Company that the current Prospectus may be used, and has received copies of any additional or supplemental
filings that are incorporated or deemed incorporated by reference in any such Prospectus. In the event of any Suspension, the Company will use its reasonable efforts to cause the use of the Prospectus
so suspended to be resumed as soon as reasonably practicable after delivery of a Suspension Notice to the Investors. 

        (d)  Notwithstanding the foregoing paragraphs of this Section 7.2, the Investor shall not be prohibited from selling
Shares under the Registration Statement as a result of Suspensions on more than two occasions of not more than 30 days each in any twelve month period, unless, in the good faith judgment of the
Company's Board of Directors, upon advice of counsel, the sale of Shares under the Registration Statement in reliance on this paragraph 7.2(d) would be reasonably likely to cause a violation of
the Securities Act or the Exchange Act and result in potential liability to the Company. 

        (e)  Provided that a Suspension is not then in effect, the Investor may sell Shares under the Registration Statement, provided
that it arranges for delivery of a current Prospectus to the transferee of such Shares. Upon receipt of a request therefor, the Company has agreed to provide an adequate number of current Prospectuses
to the Investor and to supply copies to any other parties requiring such Prospectuses. 

        (f)    In the event of a sale of Shares by the Investor, the Investor must also deliver to the Company's transfer agent, with a
copy to the Company, a Certificate of Subsequent Sale substantially in the form attached hereto as Exhibit C, so that the shares may be properly
transferred. 

        7.3    Indemnification.    For the purpose of this Section 7.3: 

        (a)  the term "Selling Stockholder" shall include the Investor, any affiliate of such Investor, any Trustee or officer of such
Investor, and any investment adviser of such Investor (and each person, if any, who
controls such Investor or such investment adviser within the meaning of Section 15 of the Securities Act); 

11

 

        (b)  the term "Registration Statement" shall include any final Prospectus, exhibit, supplement or amendment included in or
relating to the Registration Statement referred to in Section 7.1; and 

        (c)  the term "untrue statement" shall include any untrue statement or alleged untrue statement, or any omission or alleged
omission to state in the Registration Statement a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made,
not misleading. 

          (i)  The Company agrees to indemnify and hold harmless each Selling Stockholder from and against any losses, claims, damages
or liabilities to which such Selling Stockholder may become subject (under the Securities Act or otherwise) insofar as such losses, claims, damages or liabilities (or actions or proceedings in respect
thereof) arise out of, or are based upon (i) any untrue statement of a material fact contained in the Registration Statement, (ii) any omission of a material fact required to be stated
in the Registration Statement or necessary in order to make the statements in the Registration Statement not misleading or (iii) any failure by the Company to fulfill any undertaking included
in the Registration Statement, and the Company will reimburse such Selling Stockholder for any reasonable legal or other expenses reasonably incurred in investigating, defending or preparing to defend
any such action, proceeding or claim, provided, however, that the Company shall not be liable in any such case to the extent that such loss, claim,
damage or liability arises out of, or is based upon, an untrue statement made in such Registration Statement in reliance upon and in conformity with written information furnished to the Company by or
on behalf of such Selling Stockholder specifically for use in preparation of the Registration Statement or the failure of such Selling Stockholder to comply with its covenants and agreements contained
in Sections 5.1, 5.2, 5.3 or 7.2 hereof or any misstatement or omission in any Prospectus that is corrected in any subsequent Prospectus that was delivered to the Investor prior to the pertinent sale
or sales by the Investor. 

        (ii)  The Investor agrees to indemnify and hold harmless the Company (and each person, if any, who controls the Company within
the meaning of Section 15 of the Securities Act, each officer of the Company who signs the Registration Statement and each director of the Company) from and against any losses, claims, damages
or liabilities to which the Company (or any such officer, director or controlling person) may become subject (under the Securities Act or otherwise), insofar as such losses, claims, damages or
liabilities (or actions or proceedings in respect thereof) arise out of, or are based upon, (i) any failure to comply with the covenants and agreements contained in Section 5.1, 5.2, 5.3
or 7.2 hereof or (ii) any untrue statement of a material fact contained in the Registration Statement or any omission of a material fact required to be stated in the Registration Statement or
necessary in order to make the statements in the Registration Statement not misleading if such untrue statement or omission was made in reliance upon and in conformity with written information
furnished by or on behalf of the Investor specifically for use in preparation of the Registration Statement, and the Investor will reimburse the Company (or such officer, director or controlling
person), as the case may be, for any
legal or other expenses reasonably incurred in investigating, defending or preparing to defend any such action, proceeding or claim; provided, however,
that no Investor shall be required to pay any amount in excess of the gross amount received by the Investor from the sale of the Shares to which such loss relates. 

      (iii)  Promptly after receipt by any indemnified person of a notice of a claim or the beginning of any action in respect of
which indemnity is to be sought against an indemnifying person pursuant to this Section 7.3, such indemnified person shall notify the indemnifying person in writing of such claim or of the
commencement of such action, but 

12

 

the omission to so notify the indemnifying party will not relieve it from any liability which it may have to any indemnified party under this Section 7.3 (except to the extent that such
omission materially and adversely affects the indemnifying party's ability to defend such action) or from any liability otherwise than under this Section 7.3. Subject to the provisions
hereinafter stated, in case any such action shall be brought against an indemnified person, the indemnifying person shall be entitled to participate therein, and, to the extent that it shall elect by
written notice delivered to the indemnified party promptly after receiving the aforesaid notice from such indemnified party, shall be entitled to assume the defense thereof, with counsel reasonably
satisfactory to such indemnified person. After notice from the indemnifying person to such indemnified person of its election to assume the defense thereof, such indemnifying person shall not be
liable to such indemnified person for any legal expenses subsequently incurred by such indemnified person in connection with the defense thereof, provided,
however, that if there exists or shall exist a conflict of interest that would make it inappropriate, in the reasonable opinion of counsel to the indemnified person, for the
same counsel to represent both the indemnified person and such indemnifying person or any affiliate or associate thereof, the indemnified person shall be entitled to retain its own counsel at the
expense of such indemnifying person; provided, however, that no indemnifying person shall be responsible for the fees and expenses of more than one
separate counsel (together with appropriate local counsel) for all indemnified parties. In no event shall any indemnifying person be liable in respect of any amounts paid in settlement of any action
unless the indemnifying person shall have approved the terms of such settlement. No indemnifying person shall, without the prior written consent of the indemnified person, effect any settlement of any
pending or threatened proceeding in respect of which any indemnified person is or could have been a party and indemnification could have been sought hereunder by such indemnified person, unless such
settlement includes an unconditional release of such indemnified person from all liability on claims that are the subject matter of such proceeding. 

        (iv)  If the indemnification provided for in this Section 7.3 is unavailable to or insufficient to hold harmless an
indemnified party under subsection (a) or (b) above in respect of any losses, claims, damages or liabilities (or actions or proceedings in respect thereof) referred to therein, then each
indemnifying party shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (or actions in respect thereof) in such
proportion as is appropriate to reflect the relative fault of the Company on the one hand and the Investors on the other in connection with the statements or omissions or other matters which resulted
in such losses, claims, damages or liabilities (or actions in respect thereof), as well as any other relevant equitable considerations. The relative fault shall be determined by reference to, among
other things, in the case of an untrue statement, whether the untrue statement relates to information supplied by the Company on the one hand or an Investor on the other and the parties' relative
intent, knowledge, access to information and opportunity to correct or prevent such untrue statement. The Company and the Investors agree that it would not be just and equitable if contribution
pursuant to this subsection
(d) were determined by pro rata allocation (even if the Investors were treated as one entity for such purpose) or by any other method of allocation which does not take into account the
equitable considerations referred to above in this subsection (d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages or liabilities (or actions in respect
thereof) referred to above in this subsection (d) shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or
defending any such action or claim. Notwithstanding the provisions of this subsection (d), no Investor shall be required to contribute any amount 

13

 

in excess of the amount by which the gross amount received by the Investor from the sale of the Shares to which such loss relates exceeds the amount of any damages which such Investor has otherwise
been required to pay by reason of such untrue statement. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to
contribution from any person who was not guilty of such fraudulent misrepresentation. The Investors' obligations in this subsection to contribute are several in proportion to their sales of Shares to
which such loss relates and not joint. 

        (v)  The parties to this Agreement hereby acknowledge that they are sophisticated business persons who were represented by
counsel during the negotiations regarding the provisions hereof including, without limitation, the provisions of this Section 7.3, and are fully informed regarding said provisions. They further
acknowledge that the provisions of this Section 7.3 fairly allocate the risks in light of the ability of the parties to investigate the Company and its business in order to assure that adequate
disclosure is made in the Registration Statement as required by the Securities Act and the Exchange Act. 

        7.4    Termination of Conditions and Obligations.    The conditions
precedent imposed by Section 5 or this Section 7 upon the transferability of the Shares shall cease and terminate as to any particular Shares when such Shares shall have been effectively
registered under the Securities Act and sold or otherwise disposed of in accordance with the intended method of disposition set forth in the Registration Statement covering such Shares or at such time
as an opinion of counsel satisfactory to the Company shall have been rendered to the effect that such conditions are not necessary in order to comply with the Securities Act. 

        7.5    Information Available.    So long as the Registration Statement
is effective covering the resale of Shares owned by the Investor, the Company will furnish to the Investor: 

        (a)  as soon as practicable after it is available, one copy of (i) its Annual Report to Stockholders (which Annual
Report shall contain financial statements audited in accordance with generally accepted accounting principles by a national firm of certified public accountants) and (ii) if not included in
substance in the Annual Report to Stockholders, its Annual Report on Form 10-K (the foregoing, in each case, excluding exhibits); 

        (b)  upon the reasonable request of the Investor, all exhibits excluded by the parenthetical to subparagraph (a)(ii) of
this Section 7.5 as filed with the SEC and all other information that is made available to stockholders; and 

        (c)  upon the reasonable request of the Investor, an adequate number of copies of the Prospectuses to supply to any other
party requiring such Prospectuses. 

        8.    Notices.    All notices, requests, consents and other communications hereunder shall be in writing, shall be
mailed (A) if within domestic United States by first-class registered or certified airmail, or nationally recognized overnight express courier, postage prepaid, or by facsimile, or
(B) if delivered from outside the United States, by International Federal Express or facsimile, and shall be deemed given (i) if delivered by first-class registered or certified mail
domestic, three business days after so mailed, (ii) if delivered by nationally recognized overnight carrier, one (1) business day after so mailed, 

14

 

(iii) if delivered by International Federal Express, two (2) business days after so mailed, (iv) if delivered by facsimile, upon electric confirmation of receipt and shall be
delivered as addressed as follows: 

        (a)  if to the Company, to: 

IntraBiotics
Pharmaceuticals, Inc.

1245 Terra Bella Avenue

Mountain View, California 94043 

Attn:
Eric Bjerkholt

Senior Vice President and Chief Financing Officer

Phone: (650) 526-6800

Telecopy: (650) 567-6657 

        (b)  with a copy mailed to: 

Cooley
Godward LLP

Five Palo Alto Square

3000 El Camino Real

Palo Alto, CA 94306 

Attn:
Laura A. Berezin

Phone: (650) 843-5128

Telecopy: (650) 849-7400 

        (c)  if to the Investor, at its address on the Signature Page hereto, or at such other address or addresses as may have been
furnished to the Company in writing. 

        9.    Changes.    This Agreement may not be modified or amended except pursuant to an instrument in writing signed by
the Company and the Investor. 

        10.    Headings.    The headings of the various sections of this Agreement have been inserted for convenience of
reference only and shall not be deemed to be part of this Agreement. 

        11.    Severability.    In case any provision contained in this Agreement should be invalid, illegal or unenforceable
in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby. 

        12.    Governing Law.    This Agreement shall be governed by, and construed in accordance with, the internal laws of
the State of California, without giving effect to the principles of conflicts of law. 

        13.    Counterparts.    This Agreement may be executed in two or more counterparts, each of which shall constitute an
original, but all of which, when taken together, shall constitute but one instrument, and shall become effective when one or more counterparts have been signed by each party hereto and delivered to
the other parties. 

        14.    Confidential Disclosure Agreement.    Notwithstanding any provision of this Agreement to the contrary, any
confidential disclosure agreement previously executed by the Company and the Investor in connection with the transactions contemplated by this Agreement shall remain in full force and effect in
accordance with its terms following the execution of this Agreement and the consummation of the transactions contemplated hereby. 

15

 
 

Exhibit A    
  

 
  INTRABIOTICS PHARMACEUTICALS, INC.    
    
    STOCK CERTIFICATE QUESTIONNAIRE    
  

        Pursuant to Section 5 of the Agreement, please provide us with the following information: 

	1.	 	The exact name that your Shares are to be registered in (this is the name that will appear on your stock certificate(s)). You may use a nominee name if appropriate:	 	    

	

2.	
 	

The relationship between the Investor and the registered holder listed in response to item 1 above:	
 	

    

	

3.	
 	

The mailing address of the registered holder listed in response to item 1 above:	
 	

    

	

4.	
 	

The Social Security Number or Tax Identification Number of the registered holder listed in the response to item 1 above:	
 	

    

 
 

Exhibit B    
  

 
  INTRABIOTICS PHARMACEUTICALS, INC.    
    
    INVESTOR QUESTIONNAIRE    
    
    (all information will be treated confidentially)    
  

To:
IntraBiotics Pharmaceuticals, Inc. 

        This
Investor Questionnaire ("Questionnaire") must be completed by each potential investor in connection with the offer and sale of the shares of the common stock, par value $0.001 per
share, of IntraBiotics Pharmaceuticals, Inc. (the "Securities"). The Securities are being offered and sold by IntraBiotics Pharmaceuticals, Inc. (the "Corporation") without registration
under the Securities Act of 1933, as amended (the "Act"), and the securities laws of certain states, in reliance on the exemptions contained in Section 4(2) of the Act and on
Regulation D promulgated thereunder and in reliance on similar exemptions under applicable state laws. The Corporation must determine that a potential investor meets certain suitability
requirements before offering or selling Securities to such investor. The purpose of this Questionnaire is to assure the Corporation that each investor will meet the applicable suitability
requirements. The information supplied by you will be used in determining whether you meet such criteria, and reliance upon the private offering exemption from registration is based in part on the
information herein supplied. 

        This
Questionnaire does not constitute an offer to sell or a solicitation of an offer to buy any security. Your answers will be kept strictly confidential. However, by signing this
Questionnaire you will be authorizing the Corporation to provide a completed copy of this Questionnaire to such parties as the Corporation deems appropriate in order to ensure that the offer and sale
of the Securities will not result in a violation of the Act or the securities laws of any state and that you otherwise satisfy the suitability standards applicable to purchasers of the Securities. All
potential investors must answer all applicable questions and complete, date and sign this Questionnaire. Please print or type your responses and attach additional sheets of paper if necessary to
complete your answers to any item. 

A.    Background Information  

	Name:	    

	Business Address:	    

	(Number and Street)

	    

	(City)	(State)	(Zip Code)
	Telephone Number: (            )	    

	Residence Address:	    

	(Number and Street)

	    

	(City)	(State)	(Zip Code)
	Telephone Number: (          )	    

	If an individual:	 	 

	Age:	    
	 	Citizenship:	    
	 	Where registered to vote:	    

	If a corporation, partnership, limited liability company, trust or other entity:

	Type of entity:	    

	State of formation:	    
	 	Date of formation:	    

	Social Security or Taxpayer Identification No.	 	    

	Send all correspondence to (check one):	    
	Residence Address	 	    
	Business Address

B.    Status As Accredited Investor  

        The undersigned is an "accredited investor" as such term is defined in Regulation D under the Act, as at the time of the sale of the Securities the
undersigned falls within one or more of the following categories (Please initial one or more, as applicable): 

            (1)        a
bank, as defined in Section 3(a)(2) of the Act, or a savings and loan association or other institution as defined in
Section 3(a)(5)(A) of the Act whether acting in its individual or fiduciary capacity; a broker or dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934; an
insurance company as defined in Section 2(13) of the Act; an investment company registered under the Investment Company Act of 1940 or a business development company as defined in
Section 2(a)(48) of that Act; a Small Business Investment Corporation licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business
Investment Act of 1958; a plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political subdivisions for the benefit of its
employees, if such plan has total assets in excess of $5,000,000; an employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974, if the investment decision is made
by a plan fiduciary, as defined in Section 3(21) of such Act, which is either a bank, savings and loan association, insurance company, or registered investment adviser, or if the employee
benefit plan has total assets in excess of $5,000,000 or, if a self-directed plan, with the investment decisions made solely by persons that are accredited investors;(1) 

	(1)
	As
used in this Questionnaire, the term "net worth" means the excess of total assets over total liabilities. In computing net worth for the purpose of subsection (4), the principal
residence of the investor must be valued at cost, including cost of improvements, or at recently appraised value by an institutional lender making a secured loan, net of encumbrances. In determining
income, the investor should add to the investor's adjusted gross income any amounts attributable to tax exempt income received, losses claimed as a limited partner in any limited partnership,
deductions claimed for depiction, contributions to an IRA or KEOGH retirement plan, alimony payments, and any amount by which income from long-term capital gains has been reduced in arriving at
adjusted gross income. 

            (2)        a
private business development company as defined in Section 202(a)(22) of the Investment Adviser Act of 1940; 

            (3)        an
organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, corporation, Massachusetts or
similar business trust, or partnership, not formed for the specific purpose of acquiring the Securities offered, with total assets in excess of $5,000,000; 

            (4)        a
director, executive officer, or general partner of the issuer of the Securities being offered or sold, or any director, executive
officer, or general partner of a general partner of that issuer; 

            (5)        a
natural person whose individual net worth, or joint net worth with that person's spouse, at the time of such person's purchase of the
Securities exceeds $1,000,000; 

            (6)        a
natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with that person's
spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year; 

            (7)        a
trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the Securities offered, whose purchase
is directed by a sophisticated person as described in Rule 506(b)(2)(ii) of Regulation D; and 

            (8)        an
entity in which all of the equity owners are accredited investors (as defined above). 

C.    Representations  

        The undersigned hereby represents and warrants to the Corporation as follows: 

        1.    Any purchase of the Securities would be solely for the account of the undersigned and not for the account of any other
person or with a view to any resale, fractionalization, division, or distribution thereof. 

        2.    The information contained herein is complete and accurate and may be relied upon by the Corporation, and the undersigned
will notify the Corporation immediately of any material change in any of such information occurring prior to the closing, if any, with respect to the purchase of Securities by the undersigned or any
co-purchaser. 

        3.    There are no suits, pending litigation, or claims against the undersigned that could materially affect the net worth of
the undersigned as reported in this Questionnaire. 

        4.    The undersigned acknowledges that there may occasionally be times when the Corporation, based on the advice of its
counsel, determines that it must suspend the use of the Prospectus forming a part of the Registration Statement (as such terms are defined in the Stock Purchase Agreement to which this Questionnaire
is attached) until such time as an amendment to the Registration Statement has been filed by the Corporation and declared effective by the Securities and Exchange Commission or until the Corporation
has amended or supplemented such Prospectus. The undersigned is aware that, in such event, the Securities will not be subject to ready liquidation, and that any Securities purchased by the undersigned
would have to be held during such suspension. The overall commitment of the undersigned to investments which are not readily marketable is not excessive in view of the undersigned's net worth and
financial circumstances, and any purchase of the Securities will not cause such commitment to become excessive. The undersigned is able to bear the economic risk of an investment in the Securities. 

        5.    In addition to reviewing the Corporation's Offering Materials (as such term is defined in the Stock Purchase Agreement to
which this Questionnaire is attached), the undersigned has carefully considered the potential risks relating to the Corporation and a purchase of the Securities, and fully understands that the
Securities are speculative investments which involve a high degree of risk of loss of the undersigned's entire investment. Among others, the undersigned has carefully considered each of the risks
described under the heading "Risks Related to Our Business" in the Corporation's most recent annual report on Form 10-K. 

        IN
WITNESS WHEREOF, the undersigned has executed this Questionnaire this            day
of                        , 2002, and declares under oath that it is truthful and correct. 

	 	 	Print Name
	

 	
 	

By:	

    

	 	 	Signature
	

 	
 	

Title:	

    
 (required for any purchaser that is a corporation, partnership, trust or other entity)

QuickLinks

STOCK PURCHASE AGREEMENT

ANNEX I TERMS AND CONDITIONS FOR PURCHASE OF SHARES

Exhibit A

INTRABIOTICS PHARMACEUTICALS, INC. STOCK CERTIFICATE QUESTIONNAIRE

Exhibit B

INTRABIOTICS PHARMACEUTICALS, INC. INVESTOR QUESTIONNAIRE (all information will be treated confidentially)<Page>
                                                                     EXHIBIT 4.3

                         INCORPORATED UNDER THE LAWS OF
                             THE STATE OF DELAWARE

    NUMBER
---                        BENTLEY PHARMACEUTICALS, INC.
------ SHARES

                                  COMMON STOCK

    THIS CERTIFIES THAT             is the registered holder of
(      ) fully paid and nonassessable shares, par value $0.02 par value, of the
Common Stock of Bentley Pharmaceuticals, Inc. (hereinafter and on the reverse
hereof called the "Corporation"), transferable on the books of the Corporation
only upon request of the holder hereof in person or of such holder's attorney,
thereunto authorized by power of attorney duly executed and filed with the
Secretary of the Corporation, and upon surrender of this Certificate properly
endorsed or accompanied by a stock power duly executed.

    IN WITNESS WHEREOF, the Corporation has caused this Certificate to be signed
by its duly authorized officers this       day of       , 200 .

<Table>
<S>                                               <C>
President                                         Secretary
</Table>

THIS CERTIFICATE ALSO EVIDENCES AND ENTITLES THE HOLDER HEREOF TO CERTAIN RIGHTS
AS SET FORTH IN THE RIGHTS AGREEMENT BETWEEN THE CORPORATION AND AMERICAN STOCK
TRANSFER AND TRUST COMPANY (THE "RIGHTS AGENT") DATED AS OF DECEMBER 22, 1999
(THE "RIGHTS AGREEMENT"), THE TERMS OF WHICH ARE HEREBY INCORPORATED HEREIN BY
REFERENCE AND A COPY OF WHICH IS ON FILE AT THE PRINCIPAL OFFICES OF THE
CORPORATION. UNDER CERTAIN CIRCUMSTANCES, AS SET FORTH IN THE RIGHTS AGREEMENT,
SUCH RIGHTS WILL BE EVIDENCED BY SEPARATE CERTIFICATES AND WILL NO LONGER BE
EVIDENCED BY THIS CERTIFICATE. THE CORPORATION WILL MAIL TO THE HOLDER OF THIS
CERTIFICATE A COPY OF THE RIGHTS AGREEMENT, AS IN EFFECT ON THE DATE OF MAILING,
WITHOUT CHARGE PROMPTLY AFTER RECEIPT OF A WRITTEN REQUEST THEREFOR. UNDER
CERTAIN CIRCUMSTANCES SET FORTH IN THE RIGHTS AGREEMENT, RIGHTS ISSUED TO, OR
HELD BY, ANY PERSON WHO IS, WAS OR BECOMES AN ACQUIRING PERSON OR ANY AFFILIATE
OR ASSOCIATE THEREOF (AS SUCH TERMS ARE DEFINED IN THE RIGHTS AGREEMENT),
WHETHER CURRENTLY HELD BY OR ON BEHALF OF SUCH PERSON OR BY ANY SUBSEQUENT
HOLDER, MAY BECOME NULL AND VOID.
<Page>
THE CORPORATION WILL FURNISH WITHOUT CHARGE TO EACH STOCKHOLDER WHO SO REQUESTS
A DESCRIPTION OF THE POWERS, DESIGNATIONS, PREFERENCES AND RELATIVE,
PARTICIPATING, OPTIONAL OR OTHER SPECIAL RIGHTS OF EACH CLASS OR SERIES OF
CAPITAL STOCK OF THE CORPORATION AND OF ANY QUALIFICATIONS, LIMITATIONS OR
RESTRICTIONS OF SUCH PREFERENCES AND/OR RIGHTS.

                               *   *   *   *   *

FOR VALUE RECEIVED, ____________________________________________________________

hereby sell, assign and transfer unto __________________________________________
                                  (Please print or type name and address of
                                                      assignee)

-------------------------------- shares evidenced by the within Certificate,

       and does hereby irrevocably constitute and appoint
       ---------------------------------
       attorney to transfer the said shares on the books of the within-named
       Corporation, with full power of substitution in the premises.
       Dated
       -----------------
       In presence of:
       ---------------------------------------

       NOTICE: The signature to this assignment must correspond
       with the name as written upon the face of the Certificate in
       every particular, without alteration or enlargement, or any
       change whatever.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00034-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00034-of-00352.parquet"}]]