Document:

Amendment No. 3 dated June 4, 2010

 Exhibit 10.4 

Amendment No. 3, dated as of the 4th day of June, 2010 (“Amendment No. 3”), to a certain Patent Assignment And
License Agreement, dated May 21, 2008, as amended and/or supplemented by Amendment No. 1 dated October 9, 2008, Patent Assignment dated November 3, 2008, and Amendment No. 2 dated June 18, 2009 (collectively, the
“Agreement”), by and between Ribotask ApS, having its offices at Unsbjergvej 2A, 5220 Odense SØ, Denmark, being a corporation established under the laws of Denmark (“Assignor”), and MDRNA, Inc. (f/k/a Nastech
Pharmaceutical Company Inc.), having its offices at 3830 Monte Villa Pkwy, Bothell, WA 98021, being a corporation established under the laws of the State of Delaware, United States of America (“Assignee”). 

WHEREAS, the parties wish to modify the Agreement as set forth herein; 

NOW, THEREFORE, in consideration of the premises and mutual covenants set forth herein, the parties hereto hereby agree as follows:

 1. Assignor hereby acknowledges and confirms that all amounts which have become due from Assignee on or prior to the date of this Amendment
No. 3 have been paid in full and that Assignee has otherwise complied with all of its obligations under the Agreement through the date of this Amendment No. 3. For the avoidance of doubt, it is understood and agreed that transfer from
Assignee to Assignor of the last payment of two hundred fifty thousand U.S. dollars (USD $250,000) pursuant to Amendment No. 2 of the Agreement dated June 18, 2009, is due on July 1, 2010. Assignee hereby acknowledges and confirms
that, to its actual knowledge, Assignor has complied with all of its obligations under the Agreement through the date of this Amendment No. 3. The parties also acknowledge and agree that, pursuant to the Patent Assignment dated November 3,
2008 between the parties, additional patent rights were added as “Assigned Patents” under the Agreement. 
 2. The first paragraph of
Section 3, Consideration, of the Agreement is hereby amended and restated to read in its entirety as follows: 
 “As
an inducement to Assignor to execute this Patent Assignment Agreement, Assignee hereby grants to Assignor a royalty-bearing worldwide, co-exclusive (with Assignee) license to use the inventions, ideas and information embodied in the Assigned Patents
solely to develop, make, use and sell products for use as reagents for research purposes only, all of which products shall be considered Covered Products for purposes of this Agreement. 

(a) Assignor has the right to sublicense, however only with the prior written consent of Assignee, not to be unreasonably
withheld. In connection with any such sublicense, Assignor shall use its best efforts to ensure that its customers do not use the products for any purpose other than as reagents for research use, and that its sublicensees do not use the inventions,
ideas and information embodied in the Assigned Patents for any purpose other than as reagents for research use (the “Scope”). Assignor shall promptly notify Assignee in writing if Assignor becomes aware of any actual or potential use by
any of Assignor’s customers or sublicensees 

 
that is beyond the Scope. In connection therewith, Assignor shall, without limitation, regularly and closely monitor the activities of its customers and sublicensees. If Assignor becomes aware of
any such misuse by any of its customers or sublicensees, then Assignor shall immediately provide a written demand to such customer or sublicensee (with a copy to Assignee) to immediately cease all such misuse and, if such customer or sublicensee
does not immediately cease such misuse, Assignor shall immediately terminate the underlying customer or sublicense agreement. 

(b) Assignee shall be automatically deemed as, and shall be named, a third party beneficiary under any customer or
sublicense agreement and may enforce the provisions of any such customer or sublicense agreement as if named as the seller or sublicensor thereunder. 

(c) For purposes of this Agreement, “reagents” means “UNA amidites”, and “UNA-containing
oligonucleotides” such as “UsiRNA constructs”. 
 3. Subsection 3.1.1 of the Agreement is hereby amended and restated to read in
its entirety as follows: 
 “All rights under the Assigned Patents other than those expressly provided in
this Section 3.1 are hereby reserved to Assignee; provided, however, that Assignee may not sublicense the inventions, ideas and information embodied in the Assigned Patents except in connection with the research and/or development
of a therapeutic or diagnostic product(s) of Assignee and/or its sublicensee(s). For the avoidance of doubt, Assignor shall have no right under its license to develop, make, use and sell products intended for therapeutic or diagnostic use.”

 4. Subsection 3.1.3(b) of the Agreement is hereby amended by deleting the word “therapeutic” from the third line thereof.

 5. As an inducement to Assignor to execute this Amendment No. 3, and in full satisfaction of any and all payment and other obligations
of Assignee due to Assignor under Section 3 of the Agreement on or prior to the date of this Amendment No. 3, Assignee agrees to pay Assignor seven hundred fifty thousand U.S. dollars (USD $750,000), to be due and payable in three
(3) equal payments of two hundred fifty thousand U.S. dollars (USD $250,000) on each of October 1, 2010, January 1, 2011 and April 1, 2011. 

6. Exhibit A to the Agreement (Assigned Patents) is hereby amended and restated to read in its entirety as set forth on Exhibit A attached
hereto. 
 7. For the avoidance of doubt, it is understood and agreed that pursuant to Amendment No. 2 of the Agreement dated June 18,
2009, any and all royalty payment, milestone payment and sublicense revenue sharing obligations of Assignee and any and all due diligence obligations of Assignee pursuant to the Agreement were deleted in their entireties. 

 

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 8. To support the licensing efforts of Assignor and Assignee, both parties understand and agree that the
Agreement under confidentiality provision can be shown to potential licensees provided however that the terms (“Consideration sections”) of the Agreement are redacted. 

9. Except as specifically modified by this Amendment No. 3, all provisions of the Agreement shall remain in full force and effect. 

IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be duly executed as of the day and year first above
written. 
  

									
	 ASSIGNOR:
  

Ribotask ApS
	 		 	 ASSIGNEE:
  

MDRNA, Inc.

					
	By:	 	 /s/ Jesper Wengel
	 		 	By:	 	 /s/ Peter S. Garcia

	Name:	 	Jesper Wengel, Ph.D.	 		 	Name:	 	Peter S. Garcia
	Title:	 	Chairman of the Board	 		 	Title:	 	CFO

  

			
	By:	 	 /s/ Suzy Lena Wengel

	Name:	 	Suzy Lena Wengel
	Title:	 	CEO

  

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 EXHIBIT A – ASSIGNED PATENTS 

 

					
	 MDRNA

DOCKET #
	  	 APP. SERIAL #

FILING DATE (FD)
	  	 TITLE

			
	-	  	 PA200800534

FD: 4/11/2008
	  	
			
	-	  	 PA200700751

FD: 5/22/2007
	  	
			
	-	  	 PA200701718

FD: 11/30/2007
	  	
			
	-	  	 PA200701785

FD: 12/14/2007
	  	
			
	08-07PCT	  	 PCT/US2008/64417

FD: 5/21/2008
	  	 HYDROXYMETHYL SUBSTITUTED RNA
OLIGONUCLEOTIDES AND RNA COMPLEXES

			
	08-07AU	  	 AU 2008256871

FD: 5/21/2008
	  	 HYDROXYMETHYL SUBSTITUTED RNA
OLIGONUCLEOTIDES AND RNA COMPLEXES

			
	08-07BR	  	 TBD

FD: 5/21/2008
	  	 HYDROXYMETHYL SUBSTITUTED RNA
OLIGONUCLEOTIDES AND RNA COMPLEXES

			
	08-07CA	  	 TBD

FD: 5/21/2008
	  	 HYDROXYMETHYL SUBSTITUTED RNA
OLIGONUCLEOTIDES AND RNA COMPLEXES

			
	08-07CN	  	 CN 200880016977.5

FD: 5/21/2008
	  	 HYDROXYMETHYL SUBSTITUTED RNA
OLIGONUCLEOTIDES AND RNA COMPLEXES

 

 4 

					
	08-07EP	  	 EP 2008780679

FD: 5/21/2008
	  	 HYDROXYMETHYL SUBSTITUTED RNA
OLIGONUCLEOTIDES AND RNA COMPLEXES

			
	08-07IL	  	 IL 202040

FD: 5/21/2008
	  	 HYDROXYMETHYL SUBSTITUTED RNA
OLIGONUCLEOTIDES AND RNA COMPLEXES

			
	08-07IN	  	 TBD

FD: 5/21/2008
	  	 HYDROXYMETHYL SUBSTITUTED RNA
OLIGONUCLEOTIDES AND RNA COMPLEXES

			
	08-07JP	  	 JP 2010-509534

FD: 5/21/2008
	  	 HYDROXYMETHYL SUBSTITUTED RNA
OLIGONUCLEOTIDES AND RNA COMPLEXES

			
	08-07KR	  	 KR 1020097024222

FD: 5/21/2008
	  	 HYDROXYMETHYL SUBSTITUTED RNA
OLIGONUCLEOTIDES AND RNA COMPLEXES

			
	08-07MX	  	 MX/a/2009/012568

FD: 5/21/2008
	  	 HYDROXYMETHYL SUBSTITUTED RNA
OLIGONUCLEOTIDES AND RNA COMPLEXES

			
	08-07MY	  	 PI 20094688

FD: 5/21/2008
	  	 HYDROXYMETHYL SUBSTITUTED RNA
OLIGONUCLEOTIDES AND RNA COMPLEXES

			
	08-07NZ	  	 NZ 580712

FD: 5/21/2008
	  	 HYDROXYMETHYL SUBSTITUTED RNA
OLIGONUCLEOTIDES AND RNA COMPLEXES

			
	08-07SG	  	 SG 200907326-3

FD: 5/21/2008
	  	 HYDROXYMETHYL SUBSTITUTED RNA
OLIGONUCLEOTIDES AND RNA COMPLEXES

			
	08-07ZA	  	 ZA 2009/07529

FD: 5/21/2008
	  	 HYDROXYMETHYL SUBSTITUTED RNA
OLIGONUCLEOTIDES AND RNA COMPLEXES

			
	08-07US	  	 U.S. 12/515,403

FD: 5/21/2008
	  	 HYDROXYMETHYL SUBSTITUTED RNA
OLIGONUCLEOTIDES AND RNA COMPLEXES

			
	08-11P1	  	 U.S. 61/091,165

FD: 8/19/2008
	  	 OLIGONUCLEOTIDES AND RNA COMPLEXES
WITH UNLOCKED NULCEIC ACIDS

 

 5First Amendment, dated as of January 29, 2009

 Exhibit 10.5 

FIRST AMENDMENT 

DATED AS OF JANUARY 29, 2009 

TO 

DEVELOPMENT AND LICENSE AGREEMENT 

BY AND BETWEEN 

AMYLIN PHARMACEUTICALS, INC. 

AND 

MDRNA, INC. 

(formerly Nastech Pharmaceutical Company Inc.) 

 FIRST AMENDMENT 

TO 

DEVELOPMENT AND LICENSE AGREEMENT 

This First Amendment to the Development and License Agreement (the “First Amendment”) is entered into as of January 29,
2009 by and between AMYLIN PHARMACEUTICALS, INC., a corporation organized and existing under the laws of the State of Delaware (“Amylin”), and MDRNA, INC., a corporation organized and existing under the laws of the State of Delaware
(formerly known as Nastech Pharmaceutical Company Inc.; “MDRNA”), as an amendment to the Development and License Agreement (the “Agreement”) entered into as of June 21, 2006 by and between Amylin and MDRNA. All capitalized
terms used herein shall have the meanings given in the Agreement. 
 WHEREAS, Amylin and MDRNA wish to amend the Agreement in
the manner set forth herein, and 
 WHEREAS, MDRNA recognizes that, having ceased its development of intranasal administration
of therapeutics, together with the uncertainty associated with Amylin’s continued development of Products absent the amendments contemplated hereby, its prospects for receiving the milestone payments and royalties set forth in the Agreement
have declined substantially, and 
 WHEREAS, MDRNA is directly and materially benefited by the amended timing and structure of
the payments and other modifications called for by this First Amendment, which provides for the payment of amounts that otherwise might not become payable, and has requested the same, 

 

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 NOW, THEREFORE, for and in consideration of the mutual covenants and promises contained
herein, and for other valuable consideration, the receipt and sufficiency of which the parties hereby acknowledge, the parties hereto agree as follows: 

1. Amendment and Acknowledgment. 

1.01. Article I of the Agreement is hereby amended by adding the following as definitions therein: 

“FIRST AMENDMENT” means the First Amendment to the Development and License Agreement, dated as of January 29, 2009, as the
same may be amended, modified or extended. 
 1.02. Section 1.8 of the Agreement is hereby amended by adding the following
as the last sentence thereof: 
 “For clarification the Assigned Patents (as defined in that certain Assignment dated
December 22, 2008 between Amylin and MDRNA) shall be deemed to be Amylin Patents for purposes of the Agreement, other than with respect to the determination of Valid Claims for the purpose of providing for or calculating the payment of
Milestone Payments ad Sales Milestone Payments, and royalties under Sections 5.1 and 5.2 hereof.” 
 1.03.
Section 1.26 of the Agreement is hereby amended by adding the following to the end of such Section: 
 “(excluding the
Assigned Patents)” 
 1.04. Section 2.5(d) (“Reports”) of the Agreement is hereby amended by adding the
following as the last sentence thereof: 
 “The obligations stated in this Section 2.5(d) shall cease as of
January 1, 2009.” 
 1.05. Section 3.5 of the Agreement is hereby deleted and replaced with the following:

 “3.5 [INTENTIONALLY LEFT BLANK]” 

1.06. Section 5.1(a) of the Agreement is hereby amended to read in its entirety as follows: 

5.1(a) Subject to the terms and conditions of this Agreement, promptly following the first occurrence of each of the events set forth
below with respect to a Product that is within the scope of a Valid Claim (each, a “Development Milestone Event”), whether such Development Milestone Event is achieved by Amylin or its Affiliate or sublicensee, Amylin shall
notify MDRNA of the occurrence of such Development Milestone Event and within thirty (30) days after such occurrence pay to MDRNA the milestone payment set forth below corresponding to such Development Milestone Event (each, a
“Milestone Payment”), provided that the Initial Milestone (as defined below) shall be paid by Amylin to MDRNA on or before January 30, 2009 without further notice or action by MDRNA: 

 

				
	 Milestone Event
	  	Development
Milestone Payment
	 The continuation of development by Amylin of the intranasal administration of the Active Drug Substance beyond January 27,
2009 (the “Initial Milestone”)
	  	$	1,000,000
	 Receipt of the first Marketing Authorization for a Product in the United States
	  	$	14,000,000

  

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 1.07. Section 5.1(c) of the Agreement shall be amended to delete the reference to
$89,000,000 and substitute in its stead “$80,000,000”. 
 1.08. Section 5.2(a)(i) of the Agreement shall be
amended to read in its entirety as follows: 
 5.2(a)(i) Subject to the terms and conditions of this
Section 5.2, Amylin shall pay Nastech royalties on worldwide Net Sales of Products at the following rates: 
  

				
	 Total Net Sales of Products per Calendar Quarter
	  	Royalty Rate	 
	 Up to and including $100 million
	  	2	% 
	 Greater than $100 million and up to and including $200 million
	  	2	% 
	 Greater than $200 million
	  	2	% 

 1.09. The
parties acknowledge that MDRNA has ceased its business developing the intranasal administration of therapeutics and will not maintain its capabilities with respect thereto and, as such, the Development Term shall be deemed to have terminated.

 2. Miscellaneous. 

2.01. Each reference in the Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or
words of like import, and each reference to the Agreement in documents related to the Agreement, shall mean and be a reference to the Agreement as amended hereby. Except as specifically amended hereby, the Agreement and all such related documents,
and all other documents, agreements, instruments or writings entered into in connection therewith, shall remain in full force and effect and are hereby ratified, confirmed and acknowledged by each party. 

 

 3 

 2.02. The parties acknowledge and agree that this First Amendment shall be governed by and
construed in accordance with the laws of the State of California, without regard to any applicable principles of conflicts of law. 

2.03. This Amendment may be executed in any number of counterparts, all of which taken together shall constitute one and the same
instrument, and any party hereto may execute this Amendment by signing any such counterpart. 
 REMAINDER OF PAGE INTENTIONALLY
LEFT BLANK 
  

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 IN WITNESS WHEREOF, the parties, through their authorized officers, have duly executed this
First Amendment as of the date first written above. 
  

											
	AMYLIN PHARMACEUTICALS, INC.	 		 	MDRNA, INC.	 	
						
	Signed:	 	 /s/ Mark J. Gergen
	 		 	Signed:	 	 /s/ Bruce York
	 	
	Name:	 	Mark J. Gergen	 		 	Name:	 	Bruce York	 	
	Title:	 	Sr. Vice President	 		 	Title:	 	CFO	 	
	Dated:	 	January 29, 2009	 		 	Dated:	 	January 29, 2009	 	

  

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