Document:

<PAGE>

                                                                   EXHIBIT 10.20

                                    AGREEMENT

THIS AGREEMENT made as of the 15th day of February, 2003,

AMONG:

         ASPREVA PHARMACEUTICALS CORPORATION, a corporation incorporated under
         the laws of Canada, and having its address at 1201- 4464 Markham Rd,
         Victoria, B.C. V8Z 7X8

         (the "CORPORATION")

AND:

         DR. ERICH MOHR, of 2803 Arbutus Road Victoria B.C. V8N 5X6

         (the "DIRECTOR")

WITNESSES THAT WHEREAS:

A. The Corporation is carrying on business as a pharmaceutical company
specializing in the development and commercialization of rare disease
therapeutics and orphan drugs as defined by the U.S. Orphan Drug Act (the
"BUSINESS");

B. The Director has been nominated to the board of directors of the Corporation,
and shall chair the Corporation's Clinical Development Committee (the
"COMMITTEE");

C. In consideration of and as a condition of the Corporation entering into this
Agreement with the Director, the Director has agreed to be a party to this
Agreement as hereinafter provided.

NOW THEREFORE in consideration of the premises and the covenants and agreements
of the parties hereto as hereinafter set forth, the parties hereto covenant and
agree as follows:

1. Services During the term of this Agreement, the Director agrees to perform
his duties and responsibilities as a director of the Corporation in the best
interests of the Corporation and, with respect to the chairmanship of the
Committee, shall perform the services (the "SERVICES") described in Schedule A
attached hereto. The Corporation and the Director agree that in providing the
Services, the Chair shall report from time to time, as necessary, to the
Chairman of the Corporation.

2. Limited Authority as Agent The Director agrees that he will not act as an
agent of the Corporation except with the express prior written authority of the
Corporation. Without limiting the generality of the foregoing, the Director
shall not commit or be entitled to commit the Corporation to any obligation
whatsoever nor shall he incur or be entitled to incur any debt or liability
whatsoever on behalf of the Corporation, without in each case the express prior
written authority of the Corporation.

<PAGE>
                                     - 2 -

3. Term and Renewal The term of this Agreement (the "TERM") shall commence on
February 15th, 2003 and shall terminate on the date the Director ceases to be
the Chairman of the Committee. The Director agrees, concurrently with the
execution of this Agreement, to deliver to the Corporation his resignation as a
director of the Corporation, to be effective as of the date the Director ceases
to be the Chairman of the Committee.

4. No Damages for Termination The Director shall, as a result of any termination
of this Agreement or the expiration of the Term in accordance with Section 3
above, not be entitled to any notice, fees, payments or damages arising by
virtue of or in any way relating to the relationship to the Corporation, except
any applicable fees, bonuses, options and shares earned by the Director
hereunder that are unpaid or vested, as the case may be, at the effective date
of any termination, and expenses to which the Director is entitled to
reimbursement hereunder as at the effective date of any termination.

5. Fees Provided the Director renders the Services satisfactorily in accordance
with this Agreement, and provided the Director is not in default under this
Agreement, the Corporation agrees to pay to the Director an amount based on the
% full time equivalent ("FTE") provided to the Corporation. The calculation will
be based on an FTE fee of $150,000 per annum and will be adjusted annually at
the time of performance review by the Corporation's compensation committee. The
% FTE shall not exceed 20% unless otherwise agreed to in writing between the
Corporation and the Director.

                  The Director acknowledges and agrees that, except as provided
in this Agreement, the Director will not be entitled to any compensation,
remuneration or benefits from the Corporation in connection with any matter or
thing contemplated by or done pursuant to this Agreement.

                  The Director shall, at his own expense, pay all income taxes,
employment insurance, Canada Pension Plan and Workers Compensation
contributions, and all other taxes, charges and contributions levied as required
by all competent governmental authority in respect of the monies paid to the
Director under this Agreement.

6. Expenses The Director shall be reimbursed by the Corporation for all ordinary
and reasonable travelling and other out-of-pocket expenses legitimately incurred
in connection with the provision of the Services. The Director shall seek
pre-authorization from the Corporation for any expense in excess of $6,000. Any
expense outside such limitations shall be considered a business expense of the
Director, and will not be reimbursed to the Director except with the approval in
writing of the Chief Executive Officer. The Director shall be required to
furnish to the Corporation satisfactory statements and vouchers as and when
required as detailed in the policy statements of the Corporation as revised from
time to time regarding travel and promotion expenses as a condition precedent to
entitlement for reimbursement as aforesaid.

7. Bonuses The Director shall be eligible for bonuses based on the performance
of the Corporation and the Services provided by the Director hereunder. All
bonuses shall be at the sole discretion of the Board.

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                                     - 3 -

8. Incentive Share Purchase Plan By his execution of this Agreement, Richard
Glickman, as Trustee (Richard Glickman, as Trustee, or any successor Trustee, is
herein referred to as the "TRUSTEE") of the 2002 Aspreva Incentive Stock
Purchase Plan Trust Agreement (the "TRUST AGREEMENT"), hereby acknowledges and
agrees that as soon as reasonably practicable following the execution of this
Agreement he will distribute to the Director under the Trust Agreement 500,000
Common shares of the Corporation (the "TRUST SHARES") and will cause to be
delivered to the Director a share certificate (the "TRUST SHARE CERTIFICATE")
registered in the name of the Director representing the Trust Shares.

                  The Director acknowledges and agrees that as a condition to
being entitled to receive the Trust Shares and the Trust Share Certificate, he
will sign and deliver to the Corporation an Agreement to Be Bound to the
Shareholders' Agreement dated for reference January 16, 2003 among the
Corporation and its shareholders (in a form acceptable to the Corporation).

                  The Director further acknowledges and agrees that as an
additional condition to being entitled to receive the Trust Shares and the Trust
Share Certificate, he will, if this Agreement is terminated in accordance with
its terms, immediately transfer to the Trustee, or as the Trustee may direct,
for no consideration, all right, title and interest in and to the following
Trust Shares, if any, and will cause a certificate representing such Trust
Shares to be issued to the Trustee, or as the Trustee may direct, unless there
has been a "CHANGE IN CONTROL" of the Corporation (as defined in the Change of
Control Agreement in the form attached hereto as Schedule B) during the Term:

<TABLE>
<CAPTION>
     TERMINATION DATE                  NUMBER OF TRUST SHARES TO BE TRANSFERRED
---------------------------            ----------------------------------------
<S>                                    <C>
Before March 15, 2003                                   500,000

Before April 15, 2003                                   486,111

Before May 15, 2003                                     472,222

Before June 15, 2003                                    458,333

Before July 15, 2003                                    444,444

Before August 15, 2003                                  430,556

Before September 15, 2003                               416,667

Before October 15, 2003                                 402,778

Before November 15, 2003                                388,889

Before December 15, 2003                                375,000

Before January 15, 2004                                 361,111

Before February 15, 2004                                347,222

Before March 15, 2004                                   333,333

Before April 15, 2004                                   319,444

Before May 15, 2004                                     305,556

Before June 15, 2004                                    291,667
</TABLE>

<PAGE>
                                     - 4 -

<TABLE>
<CAPTION>
    TERMINATION DATE                   NUMBER OF TRUST SHARES TO BE TRANSFERRED
-------------------------              ----------------------------------------
<S>                                    <C>
Before July 15, 2004                                    277,778

Before August 15, 2004                                  263,889

Before September 15, 2004                               250,000

Before October 15, 2004                                 236,111

Before November 15, 2004                                222,222

Before December 15, 2004                                208,333

Before January 15, 2005                                 194,444

Before February 15, 2005                                180,556

Before March 15, 2005                                   166,667

Before April 15, 2005                                   152,778

Before May 15, 2005                                     138,889

Before June 15, 2005                                    125,000

Before July 15, 2005                                    111,111

Before August 15, 2005                                   97,222

Before September 15, 2005                                83,333

Before October 15, 2005                                  69,444

Before November 15, 2005                                 55,556

Before December 15, 2005                                 41,667

Before January 15, 2006                                  27,778

Before February 15, 2006                                 13,889

On or after February 15, 2006                             Nil
</TABLE>

9.  Disclosure of Conflicts of Interest During the Term, the Director shall
promptly, fully and frankly disclose to the Corporation in writing:

         (a)      the nature and extent of any interest the Director or any
                  Affiliate or Associate (as hereinafter defined) of either of
                  them has or may foreseeably have, directly or indirectly, in
                  any contract or transaction or proposed contract or
                  transaction of or with the Corporation or any subsidiary or
                  affiliate of the Corporation;

         (b)      every office the Director or any Affiliate or Associate of
                  either of them may hold or acquire, and every property the
                  Director or any Affiliate or Associate of either of them may
                  possess or acquire, whereby directly or indirectly a duty or
                  interest might be created in conflict with the interests of
                  the Corporation or the duties and obligations of the Director
                  under this Agreement; and

         (c)      the nature and extent of any conflict referred to in
                  subparagraph (b) above.

<PAGE>
                                     - 5 -

In this Agreement, the expressions "AFFILIATE" and "ASSOCIATE" shall include all
those persons and entities that are included within the definitions or meanings
of "affiliate" and "associate" respectively as set forth in sections 1(l) and
1(2) of the Company Act (British Columbia) as amended from time to time, or any
successor legislation of similar force and effect.

10. Avoidance of Conflicts of Interest The Director acknowledges that it is the
policy of the Corporation that all interests and conflicts of the sort described
in Section 9 be avoided, and the Director agrees to comply with and to cause the
Director to comply with all policies or directives of the Corporation from time
to time regulating, restricting or prohibiting circumstances giving rise to
interests or conflicts of the sort described in Section 9 above. During the
Term, the Director shall not enter into any agreement, arrangement or
understanding with any other person or entity that would in any way conflict or
interfere with this Agreement or the duties and obligations of the Director
under this Agreement or that would otherwise prevent the Director from
performing the Services hereunder, and the Director hereby represents and
warrants that neither the Director nor any of his Affiliates or Associates has
entered into any such agreement, arrangement or understanding. Notwithstanding
the above, the parties acknowledge that the Director has certain commitments and
obligations to PRA International Inc., and such commitments and obligations will
be deemed not to be a conflict of interest for the purposes of this Agreement.

11. Confidentiality and Assignment of Inventions Concurrently with execution and
delivery of this Agreement and in consideration of the Director's relationship
with the Corporation, the Director and the Corporation will enter into a
"CONFIDENTIALITY AGREEMENT AND ASSIGNMENT OF INVENTIONS" in the form attached
hereto as SCHEDULE B.

12. Non-Competition and Non-Solicitation The Director undertakes and agrees with
the Corporation that during the Term, he will not, with the exception of meeting
his obligation's to PRA International, directly or indirectly:

         (a)      be retained as a Board member or as a senior advisor for a
                  company anywhere in the world whose primary focus is the
                  development and/or commercialization of rare disease
                  therapeutics and/or orphan drugs as defined by the U.S. Orphan
                  Drug Act, or whose business model relies on the in-licensing
                  of drugs from pharmaceutical companies; except with the
                  written consent of the Corporation; or

         (b)      assist any Person to employ, offer employment to or solicit
                  the employment of or otherwise entice away from the employment
                  of the Corporation, any individual who is employed by the
                  Corporation at the date of termination of this Agreement or
                  who was employed by the Corporation within the 6 month period
                  immediately preceding the date of this Agreement.

In this Agreement, "PERSON" shall mean any individual or other entity or group
of individuals or other entities possessed of juridical personality, including,
without limitation, a natural person, firm, association, syndicate, company,
corporation, cooperative, partnership, trust, unincorporated association,
affiliate or governmental body, and pronouns when they refer to a Person shall
have a similarly extended meaning.

<PAGE>
                                     - 6 -

13. Provisions Reasonable It is acknowledged that:

         (a)      the Corporation has operated and competed and will operate and
                  compete in a global market, with respect to the Business of
                  the Corporation;

         (b)      competitors of the Corporation and the Business are located in
                  countries around the world;

         (c)      in order to protect the Corporation adequately, any enjoinder
                  of competition would have to apply world wide;

         (d)      during the Term, the Director has acquired and will acquire
                  knowledge of, and come into contact with and initiate and
                  established relationships with both existing and new clients,
                  customers, suppliers, principals, contacts and prospects of
                  the Corporation;

         (e)      in light of the foregoing, the provisions of Section 12 above
                  are reasonable and necessary for the proper protection of the
                  business, property and goodwill of the Corporation and the
                  Business.

14. Severability If any provision of this Agreement shall for any reason be held
to be excessively broad as to duration, scope, activity, subject matter or
otherwise, such provision shall be construed by limiting and reducing it so as
to be enforceable to the extent compatible with applicable law. If,
notwithstanding the foregoing, any provision of this Agreement is to be held to
be invalid or illegal, then such invalid, illegal provision shall be severable
and severed from the other provisions of this Agreement and the Agreement shall
remain to be construed as if such invalid, illegal provision had never been
contained herein.

15. Waiver Any waiver of any breach or default under this Agreement shall only
be effective if in writing signed by the party against whom the waiver is sought
to be enforced, and no waiver shall be implied by indulgence, delay or other
act, omission or conduct. Any waiver shall only apply to the specific matter
waived and only in the specific instance in which it is waived.

16. Governing Laws This Agreement shall be governed by and interpreted in
accordance with the laws of the Province of British Columbia and applicable laws
of Canada, and the parties hereto attorn to the exclusive jurisdiction of the
federal and provincial courts of such province.

17. Survival of Terms The representations, warranties, covenants, agreements,
obligations and liabilities of the Director under any and all of Sections 10, 11
and 12 of this Agreement shall survive any expiration or termination of this
Agreement or of the Term. Any expiration or termination of this Agreement or of
the Term shall be without prejudice to any rights and obligations of the parties
hereto arising or existing up to the effective date of such expiration or
termination, or any remedies of the parties with respect thereto.

18. Notices Any notice or other communication under this Agreement or in
connection herewith shall be in writing and shall be delivered or faxed to the
Director or the

<PAGE>
                                     - 7 -

Corporation at the addresses or fax numbers set out below. If the address, fax
number or telephone numbers set out below shall change during the Term, the
party shall promptly provide the new address, fax number or telephone number to
the other parties:

         If to the Corporation:

                  Aspreva Pharmaceuticals Corporation
                  c/o Farris, Vaughan, Wills & Murphy
                  2600 - 700 West Georgia Street
                  Vancouver, BC, V7Y 1B3
                  Attn: R. Hector MacKay-Dunn
                  Facsimile: (604) 661-9349

         If to the Director:

                  Dr. Erich Mohr
                  2803 Arbutus Road
                  Victoria B.C. V8N 5X6

         Any notice delivered or faxed shall be deemed to have been given and
         received on the first business day following the date of delivery or
         fax.

19. Interpretation If the sense or context of this Agreement so requires, the
singular shall be construed to include the plural and vice versa, and the neuter
shall be construed to include the feminine or masculine or body politic or body
corporate and vice versa. In this Agreement "herein", "hereby", "hereunder",
"hereof", "hereto" and words of similar import, refer to this Agreement as a
whole and not to any particular Section or part of this Agreement. The headings
and captions of Sections of this Agreement are inserted for convenience of
reference only and are not to be considered when interpreting this Agreement.
Any covenants or agreements made the Director shall be joint and several
covenants and agreements of such parties. All sums of money set forth in this
Agreement are expressed in Canadian dollars.

20. Independent Legal Advice The Director acknowledges that he has read and
understood this Agreement and all of its terms and conditions, and acknowledge
that they have each had an opportunity to obtain such legal and other advice
about it as deemed necessary.

21. Time Due to the time sensitive nature of the Corporation's business, time is
of the essence.

22. Enurement Subject to Section 21, this Agreement shall enure to the benefit
and be binding on the respective heirs, executors, administrators, successors
and assigns of the Corporation and the Director.

23. Entire Agreement This Agreement constitutes the entire agreement between the
Corporation and the Director with respect to the subject matters hereof, and
supersedes any previous communications, understandings and agreements between
the Corporation and the Director regarding the subject matters hereof, whether
written or oral. Except as otherwise

<PAGE>
                                     - 8 -

provided in this Agreement, this Agreement may only be amended by further
agreement in writing signed by the parties hereto.

IN WITNESS WHEREOF the parties have executed this Agreement with effect as of
the day and year first above written.

ASPREVA PHARMACEUTICALS CORPORATION

Per:   /s/ RICHARD M. GLICKMAN
       -------------------------------------
       Richard M. Glickman
       Chairman

EXECUTED by DR. ERICH MOHR in the                       )
presence of:                                            )
                                                        )
K. Hildebrand                                           )
---------------------------------------------------
Name                                                    )

136A Superior                                           )
---------------------------------------------------
Address                                                 )       /s/ ERICH MOHR
                                                                --------------
Victoria BC                                             )       DR. ERICH MOHR
---------------------------------------------------
                                                        )
Director  Clin Reg                                      )
---------------------------------------------------
Occupation                                              )
                                                        )

The provisions of Section 10 are accepted and agreed as of the 15th day of
February, 2003

/s/ K. HILDEBRAND                         /s/ RICHARD GLICKMAN
-----------------------                   -------------------------------------
Witness Signature                         SIGNATURE OF RICHARD GLICKMAN,
                                          TRUSTEE OF THE 2002 ASPREVA INCENTIVE
                                          STOCK PURCHASE PLAN TRUST AGREEMENT

K. Hildebrand
--------------------------
Witness Name

Director   Clin Reg
--------------------------
Occupation

136A Superior Victoria BC
--------------------------
Address

<PAGE>

                                   SCHEDULE A

                               COMMITTEE SERVICES

The Director shall devote sufficient working time and efforts to the clinical,
scientific and business affairs of the Corporation as are necessary and
consistent with the needs of the Corporation. The Services to be provided by the
Director in connection with the chairmanship of the Committee are as follows:

         -        Consults on all aspects of the Corporation's drug assessment
                  and clinical development, safety and monitoring programs;

         -        Consults on the recruitment of senior clinical and regulatory
                  staff;

         -        Participates in the development and execution of the
                  Corporation's overall strategic plan;

         -        Consults on the development and implementation of appropriate
                  policies and procedures governing the Corporation's clinical
                  development activities;

         -        Represents the Corporation in meetings with the pharmaceutical
                  industry and the scientific and business community including
                  attending conferences and meetings both within and outside of
                  Canada;

<PAGE>

                                   SCHEDULE B

                          CONFIDENTIALITY AGREEMENT AND
                            ASSIGNMENT OF INVENTIONS

                       ASPREVA PHARMACEUTICALS CORPORATION

                                                               February 15, 2003

PRIVATE AND CONFIDENTIAL

DR. ERICH MOHR
2803 Arbutus Road
Victoria B.C. V8N 5X6

This Confidentiality Agreement and Assignment is being entered into in
connection with your engagement by Aspreva Pharmaceuticals Corporation
("ASPREVA") to act as Director and Chair of the Clinical Development Committee
("CHAIR") pursuant to an agreement dated February 15, 2003 ( the "ENGAGEMENT
AGREEMENT"). You have been engaged because of, and Aspreva expects to benefit
from, your knowledge, experience and expertise in relation to rare disease
therapeutics and orphan drugs. The purpose of this letter is to confirm and
record the terms of this agreement (this "AGREEMENT") between you and Aspreva
concerning the terms on which you will (i) receive from and disclose to Aspreva
proprietary and confidential information; (ii) agree to keep the information
confidential, to protect it from disclosure and to use it only in accordance
with the terms of this Agreement; and (iii) assign to Aspreva all rights,
including any ownership interest which may arise in all inventions and
intellectual property developed by you in providing services to Aspreva. The
effective date ("EFFECTIVE DATE") of this Agreement is the date that you began
providing services to Aspreva, as indicated in the Engagement Agreement. Both
parties acknowledge that you will continue to be employed by PRA International
in the field of drug development and nothing in this Agreement is intended to
interfere with or affect your rights or obligations with respect to PRA
International.

In consideration of the execution of the Engagement Agreement by Aspreva and the
payment by Aspreva to you of the sum of CDN$1.00 and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, you
and Aspreva hereby agree as follows:

1.    INTERPRETATION

1.1   DEFINITIONS

      In this Agreement:

<PAGE>

      (a)   "CONFIDENTIAL INFORMATION", subject to the exemptions set out in
            Section 2.8, shall mean any information relating to Aspreva's
            Business (as hereinafter defined), whether or not conceived,
            originated, discovered, or developed in whole or in part by you,
            that is not generally known to the public or to other persons who
            are not bound by obligations of confidentiality and:

            (i)   from which Aspreva derives economic value, actual or
                  potential, from the information not being generally known; or

            (ii)  in respect of which Aspreva otherwise has a legitimate
                  interest in maintaining secrecy;

            and which, without limiting the generality of the foregoing, shall
            include;

            (iii) all proprietary information licensed to, acquired, used or
                  developed by Aspreva in its research and development
                  activities including but not restricted to the development and
                  commercialization of drugs for rare diseases and conditions
                  and orphan drugs as defined by U.S. Orphan Drug Act, other
                  scientific strategies and concepts, designs, know-how,
                  information, material, formulas, processes, research data and
                  proprietary rights in the nature of copyrights, patents,
                  trademarks, licenses and industrial designs;

            (iv)  all information relating to Aspreva's Business, and to all
                  other aspects of Aspreva's structure, personnel, and
                  operations, including financial, clinical, regulatory,
                  marketing, advertising and commercial information and
                  strategies, customer lists, compilations, agreements and
                  contractual records and correspondence; programs, devices,
                  concepts, inventions, designs, methods, processes, data,
                  know-how, unique combinations of separate items that is not
                  generally known and items provided or disclosed to Aspreva by
                  third parties subject to restrictions on use or disclosure;

            (v)   all know-how relating to Aspreva's Business including, all
                  biological, chemical, pharmacological, toxicological,
                  pharmaceutical, physical and analytical, clinical, safety,
                  manufacturing and quality control data and information, and
                  all applications, registrations, licenses, authorizations,
                  approvals and correspondence submitted to regulatory
                  authorities;

            (vi)  all information relating to the businesses of competitors of
                  Aspreva including information relating to competitors'
                  research and development, intellectual property, operations,
                  financial, clinical, regulatory, marketing, advertising and
                  commercial strategies, that is not generally known;

            (vii) all information provided by Aspreva's agents, Directors,
                  lawyers, contractors, licensors or licensees to Aspreva and
                  relating to Aspreva's Business; and

<PAGE>
                                     - 10 -

            (viii) all information relating to your compensation and fees,
                   except that you shall be entitled to disclose such
                   information to your bankers, advisors, agents, Directors and
                   other third parties who have a duty of confidence to you and
                   who have a need to know such information in order to provide
                   advice, products or services to you.

      (b)   "INVENTIONS" shall mean any and all discoveries, developments,
            enhancements, improvements, concepts, formulas, processes, ideas,
            writings, whether or not reduced to practice, industrial and other
            designs, patents, patent applications, provisional patent
            applications, continuations, continuations-in-part, substitutions,
            divisionals, reissues, renewals, re-examinations, extensions,
            supplementary protection certificates or the like, trade secrets or
            utility models, copyrights and other forms of intellectual property
            including all applications, registrations and related foreign
            applications filed and registrations granted thereon but excludes
            any Previous Technology and Residual Knowledge.

      (c)   "PREVIOUS TECHNOLOGY" shall mean technology developed or owned by
            you prior to the Effective Date and/or arising from any work,
            research or activity engaged in other than pursuant to the
            Engagement Letter and includes without limitation all confidential
            and proprietary information and Inventions developed, created,
            reduced to practise or disclosed in the course of your engagement by
            PRA International and Global Biomedical Capital Corp. (GBCC) and its
            affiliated companies.

      (d)   "RESIDUAL KNOWLEDGE" shall mean ideas, concepts, know-how,
            knowledge, methods, techniques, processes, skills, tools, approaches
            and other residual values of a general nature not directly relating
            to Aspreva's Business or from which Aspreva derives no direct
            economic value from its use or disclosure, which you know, possess,
            learn or develop your activities as Director and Chair.

      (e)   "WORK PRODUCT" shall mean any and all Inventions and possible
            Inventions relating to Aspreva's Business resulting from any work
            performed by you for Aspreva that you may invent or co-invent during
            the term of the Engagement Agreement, except Previous Technology,
            Residual Knowledge and those Inventions invented by you entirely on
            your own time that do not relate to Aspreva's Business or do not
            derive from any equipment, supplies, facilities, Confidential
            Information or other information, gained, directly or indirectly, by
            you from or through your involvement in any capacity with Aspreva.

      (f)   "ASPREVA'S BUSINESS" shall mean the businesses actually carried on
            by Aspreva, directly or indirectly, whether under an agreement with
            or in collaboration with, any other party including but not
            exclusively, related to the development and commercialization of
            drugs for rare diseases and conditions and orphan drugs as defined
            by the U.S. Orphan Drug Act.

<PAGE>

2.    CONFIDENTIALITY

2.1   BASIC OBLIGATION OF CONFIDENTIALITY.

            You hereby acknowledge and agree that in the course of your
involvement with Aspreva, Aspreva may disclose to you or you may otherwise have
access or be exposed to Confidential Information. Aspreva hereby agrees to
provide such access to you and you agree to receive and hold all Confidential
Information on the terms and conditions set out in this Agreement. Except as set
out in this Agreement, you will keep strictly confidential all Confidential
Information and all other information belonging to Aspreva that you acquire,
observe or are informed of, directly or indirectly, in connection with your
involvement, in any capacity, with Aspreva.

2.2   FIDUCIARY CAPACITY.

            You will be and act toward Aspreva as a fiduciary in respect of the
Confidential Information.

2.3   NON-DISCLOSURE.

            Except as required to do so in order to fulfill your obligations
pursuant to the Engagement Agreement and unless Aspreva first gives you written
permission to do so under Section 2.7 of this Agreement, you will not at any
time, either during or after your involvement in any capacity with Aspreva;

      (a)   use or copy Confidential Information or your recollections thereof;

      (b)   publish or disclose Confidential Information or your recollections
            thereof to any person other than to employees of Aspreva who have a
            need to know such Confidential Information for their work for
            Aspreva;

      (c)   permit or cause any Confidential Information to be used, copied,
            published, disclosed, translated or adapted except as otherwise
            expressly permitted by this Agreement;

      (d)   permit or cause any Confidential Information to be stored off the
            premises of Aspreva, including permitting or causing such
            Information to be stored in electronic format on personal computers,
            except in accordance with written procedures of Aspreva, as amended
            from time to time in writing; or

      (e)   communicate the Confidential Information or your recollections
            thereof to another employee of Aspreva in a public place or using
            methods of communication that are capable of being intercepted (such
            as unencrypted messages using the internet or cellular phones) or
            overheard, without the written permission of Aspreva.

<PAGE>

2.4   TAKING PRECAUTIONS.

            You will take all reasonable precautions consistent with Aspreva's
existing policies necessary or prudent to prevent material in your possession or
control that contains or refers to Confidential Information from being
discovered, used or copied by third parties.

2.5   ASPREVA'S OWNERSHIP OF CONFIDENTIAL INFORMATION.

            As between you and Aspreva, Aspreva shall own all right, title and
interest in and to the Confidential Information, whether or not created or
developed by you.

2.6   CONTROL OF CONFIDENTIAL INFORMATION AND RETURN OF INFORMATION.

            All physical materials produced or prepared by you containing
Confidential Information, including, without limitation, biological material,
chemical entities, test results, notes of experiments, computer files,
photographs, x-ray film, designs, devices, formulas, memoranda, drawings, plans,
prototypes, samples, accounts, reports, financial statements, estimates and
materials prepared in the course of your obligations to or for the benefit of
Aspreva, shall belong to Aspreva, and you will promptly turn over to Aspreva's
possession every original and copy of any and all such items in your possession
or control upon request by Aspreva. You shall not permit or cause any physical
materials to be stored off the premises of Aspreva, unless in accordance with
written procedures of Aspreva, as amended from time to time in writing. You
shall not transfer any biological material to another person outside of Aspreva,
unless a material transfer agreement has been signed by both Aspreva and the
other party. You shall not accept any biological material from another person
outside of Aspreva, unless in accordance with written procedures of Aspreva, as
amended from time to time in writing.

2.7   PURPOSE OF USE.

            You will use Confidential Information only for purposes of carrying
out your obligations under the Engagement Agreement or as otherwise authorized
or directed by Aspreva.

2.8   EXEMPTIONS.

            Your obligation of confidentiality under this Agreement will not
apply to any of the following:

      (a)   Previous Technology;

      (b)   information related to the affairs or business of PRA International;

      (c)   information related to the affairs or business of Global Biomedical
            Capital Corp. (GBCC) and its affiliated companies;

      (d)   Residual Knowledge;

<PAGE>

      (e)   information that is already known to you, though not due to a prior
            disclosure by Aspreva or by a person who obtained knowledge of the
            information, directly or indirectly, from Aspreva;

      (f)   information disclosed to you by another person who is not obliged to
            maintain the confidentiality of that information and who did not
            obtain knowledge of the information, directly or indirectly, from
            Aspreva;

      (g)   information that is developed by you independently of Confidential
            Information received from Aspreva and such independent development
            can be documented by you;

      (h)   other particular information or material which Aspreva expressly
            exempts by written instrument signed by Aspreva;

      (i)   information or material that is in the public domain through no
            fault of your own; and

      (j)   information or material that you are obligated by law to disclose,
            to the extent of such obligation, provided that:

            (i)   in the event that you are required to disclose such
                  information or material, then, as soon as you become aware of
                  this obligation to disclose, you will provide Aspreva with
                  prompt written notice so that Aspreva may seek a protective
                  order or other appropriate remedy and/or waive compliance with
                  the provisions of this Agreement;

            (ii)  if Aspreva agrees that the disclosure is required by law, it
                  will give you written authorization to disclose the
                  information for the required purposes only;

            (iii) if Aspreva does not agree that the disclosure is required by
                  law, this Agreement will continue to apply, except to the
                  extent that a Court of competent jurisdiction orders
                  otherwise; and

            (iv)  if a protective order or other remedy is not obtained or if
                  compliance with this Agreement is waived, you will furnish
                  only that portion of the Confidential Information that is
                  legally required and will exercise all reasonable efforts to
                  obtain confidential treatment of such Confidential
                  Information.

3.    ASSIGNMENT OF INTELLECTUAL PROPERTY RIGHTS

3.1   NOTICE OF INVENTION.

            You agree to promptly and fully inform Aspreva of all your Work
Product, whether or not patentable, throughout the course of your involvement,
in any capacity, with Aspreva, whether or not developed before or after your
execution of this Agreement. On your

<PAGE>

ceasing to be employed by Aspreva for any reason whatsoever, you will
immediately deliver up to Aspreva all of your Work Product. You further agree
that all of your Work Product shall at all times be the Confidential Information
of Aspreva.

3.2   ASSIGNMENT OF RIGHTS.

            Subject only to those exceptions set out in Exhibit A hereto, you
will assign, and do hereby assign, to Aspreva or, at the option of Aspreva and
upon notice from Aspreva, to Aspreva's designee, your entire right, title and
interest in and to all of your Work Product during your involvement, in any
capacity, with Aspreva and all other rights and interests of a proprietary
nature in and associated with your Work Product, including all patents, patent
applications filed and other registrations granted thereon. To the extent that
you retain or acquire legal title to any such rights and interests, you hereby
declare and confirm that such legal title is and will be held by you only as
trustee and agent for Aspreva. You agree that Aspreva's rights hereunder shall
attach to all of your Work Product, notwithstanding that it may be perfected or
reduced to specific form after you have terminated your relationship with
Aspreva. You further agree that Aspreva's rights hereunder are worldwide rights
and are not limited to Canada, but shall extend to every country of the world.

3.3   MORAL RIGHTS.

            Aspreva shall respect your right to be acknowledged as the author or
inventor of all Work Product. Otherwise, you irrevocably waive any and all moral
rights arising under the Copyright Act (Canada), as amended, or any successor
legislation of similar force and effect or similar legislation in other
applicable jurisdictions or at common law that you may have with respect to your
Work Product, and agree never to assert any moral rights which you may have in
your Work Product, including, without limitation, the right to the integrity of
such Work Product, the right to restrain or claim damages for any distortion,
mutilation or other modification or enhancement of the Work Product and the
right to restrain the use or reproduction of the Work Product in any context and
in connection with any product, service, cause or institution, and you further
confirm that Aspreva may use or alter any such Work Product as Aspreva sees fits
in its absolute discretion.

3.4   ASSISTANCE.

            You hereby agree to reasonably assist Aspreva, at Aspreva's request
and expense, in:

      (a)   making patent applications for your Work Product, including
            instructions to lawyers and/or patent agents as to the
            characteristics of your Work Product in sufficient detail to enable
            the preparation of a suitable patent specification, to execute all
            formal documentation incidental to an application for letters patent
            and to execute assignment documents in favour of Aspreva for such
            applications;

      (b)   making applications for all other forms of intellectual property
            registration relating to your Work Product;

<PAGE>

      (c)   prosecuting and maintaining the patent applications and other
            intellectual property relating to your Work Product; and

      (d)   registering, maintaining and enforcing the patents and other
            intellectual property registrations relating to your Work Product.

3.5   ASSISTANCE WITH PROCEEDINGS.

            You further agree to reasonably assist Aspreva, at Aspreva's request
and expense, in connection with any defence to an allegation that any element of
the Work Product infringes on another person's intellectual property rights,
claim of invalidity of another person's intellectual property rights, opposition
to, or intervention regarding, an application for letters patent, copyright or
trademark or other proceedings relating to intellectual property or applications
for registration thereof.

4.    GENERAL

4.1   TERM AND DURATION OF OBLIGATION.

            The term of this Agreement is from the Effective Date and terminates
on the date that you are no longer working at or for Aspreva. Except as
otherwise agreed in a written instrument signed by Aspreva, Article 2 shall
survive the termination of this Agreement, including your obligations of
confidentiality and to return Confidential Information, and shall endure, with
respect to each item of Confidential Information, for so long as those items
fall within the definition of Confidential Information. Sections 1.1, 3.2, 3.3,
3.4, 3.5, 4.1, 4.2, 4.4, 4.5, 4.6, 4.7, 4.8, 4.9, 4.10, 4.11, 4.12 and 4.13
shall also survive the termination of this Agreement.

4.2   BINDING NATURE OF AGREEMENT.

            This Agreement is not assignable by either party without the prior
written consent of the other party, such consent to be unreasonably withheld.
You agree that this Agreement shall be binding upon your heirs and estate.

4.3   NON-COMPETITION.

            While you are an employee of Aspreva, you will not provide services
to or enter into a contract of employment or service in any capacity for any
business, which is in any way competitive with Aspreva's Business without the
prior written consent of Aspreva.

4.4   NO CONFLICTING OBLIGATIONS.

            You represent and warrant that you will not use or disclose to other
persons at Aspreva information that (i) constitutes a trade secret of persons
other than Aspreva during your employment at Aspreva, or (ii) which is
confidential information owned by another person. You represent and warrant that
you have no agreements with or obligations to others with respect to the matters
covered by this Agreement or concerning the Confidential Information that are in
conflict with anything in this Agreement.

<PAGE>

4.5   EQUITABLE REMEDIES.

            You acknowledge and agree that a breach by you of any of your
obligations under this Agreement would result in damages to Aspreva that could
not be adequately compensated by monetary award. Accordingly, in the event of
any such breach by you, in addition to all other remedies available to Aspreva
at law or in equity, Aspreva shall be entitled as a matter of right to apply to
a court of competent jurisdiction for such relief by way of restraining order,
injunction, decree or otherwise, as may be appropriate to ensure compliance with
the provisions of this Agreement, without having to prove damages to the court.

4.6   PUBLICITY.

            You shall not, without the prior written consent of Aspreva, make or
give any public announcements, press releases or statements to the public or the
press regarding your Work Product or any Confidential Information.

4.7   SEVERABILITY.

            If any covenant or provision of this Agreement or of a section of
this Agreement is determined by a court of competent jurisdiction to be void or
unenforceable in whole or in part, then such void or unenforceable covenant or
provision shall not affect or impair the enforceability or validity of the
balance of the section or any other covenant or provision.

4.8   TIME OF ESSENCE/NO WAIVER.

            Time is of the essence hereof and no waiver, delay, indulgence, or
failure to act by Aspreva regarding any particular default or omission by you
shall affect or impair any of Aspreva's rights or remedies regarding that or any
subsequent default or omission that is not expressly waived in writing, and in
all events time shall continue to be of the essence without the necessity of
specific reinstatement.

4.9   FURTHER ASSURANCES.

            The parties will execute and deliver to each other such further
instruments and assurances and do such further acts as may be required to give
effect to this Agreement.

4.10  NOTICES.

            All notices and other communications that are required or permitted
by this Agreement must be in writing and shall be hand delivered or sent by
express delivery service or certified or registered mail, postage prepaid, or by
facsimile transmission (with written confirmation copy by registered first-class
mail) to the parties at the addresses indicated below.

                  IF TO ASPREVA:

                  Aspreva Pharmaceuticals Corporation
                  Farris, Vaughan, Wills  Murphy
                  2600 - 700 West Georgia Street

<PAGE>

                  Vancouver, B.C. V7Y 1B3
                  Attn:  R. Hector MacKay-Dunn
                  Fax:  (604) 661-9349

                  IF TO ERICH MOHR:

                  2803 Arbutus Road
                  Victoria B.C. V8N 5X6

Any such notice shall be deemed to have been received on the earlier of the date
actually received or the date five (5) days after the same was posted or sent.
Either party may change its address or its facsimile number by giving the other
party written notice, delivered in accordance with this Section 4.10.

4.11  AMENDMENT.

            No amendment, modification, supplement or other purported alteration
of this Agreement shall be binding unless it is in writing and signed by you and
by Aspreva.

4.12  ENTIRE AGREEMENT.

            This Agreement supersedes all previous dealings, understandings, and
expectations of the parties and constitutes the whole agreement with respect to
the matters contemplated hereby, and there are no representations, warranties,
conditions or collateral agreements between the parties with respect to such
transactions except as expressly set out herein.

4.13  GOVERNING LAW.

            This Agreement shall be governed by and interpreted in accordance
with the laws of the Province of British Columbia and applicable laws of Canada
and the parties hereto attorn to the exclusive jurisdiction of the provincial
and federal courts of such province.

4.14  INDEPENDENT LEGAL ADVICE.

            You hereby acknowledge that you have obtained or have had an
opportunity to obtain independent legal advice in connection with this
Agreement, and further acknowledge that you have read, understand, and agree to
be bound by all of the terms and conditions contained herein.

4.15  ACCEPTANCE

            If the foregoing terms and conditions are acceptable to you, please
indicate your acceptance of and agreement to the terms and conditions of this
Agreement by signing below on this letter and on the enclosed copy of this
letter in the space provided and by returning the enclosed copy so executed to
us. Your execution and delivery to Aspreva of the enclosed copy of this letter
will create a binding agreement between us.

<PAGE>

Thank you for your cooperation in this matter.

Yours truly,

ASPREVA PHARMACEUTICALS CORPORATION

By /s/ RICHARD GLICKMAN
   ------------------------
   Authorized Signatory

Accepted and agreed to as of the 15th day of February, 2003

/s/ K. HILDEBRAND                                /s/ ERICH MOHR
-----------------------------------              ------------------------------
Witness Signature                                SIGNATURE OF ERICH MOHR

K. Hildebrand
-----------------------------------
Witness Name

Director  Clin Reg
-----------------------------------
Occupation

136 Superior  Victoria BC
-----------------------------------
Address<PAGE>

                                                                   EXHIBIT 10.21

[RBC ROYAL BANK LOGO]

JOHN MCCANNEL                           ROYAL BANK OF CANADA
Senior Account Manager                  Greater Victoria Business Banking Centre
Tel: (250) 356-4517                     2nd Floor, 707 Fort Street
Email john.mccannel@rbc.com             Victoria, British Columbia V8W 3G3
                                        Transit 08030
                                        Fax: (250) 356-4583

April 23, 2004

PRIVATE AND CONFIDENTIAL

Aspreva Pharmaceuticals Corporation
1201-4464 Markham Street
Victoria, B.C. V8Z 7X8

ATTENTION: MR. RICHARD GLICKMAN, CHAIRMAN & CEO

Dear Sir:

We are pleased to offer the credit facilities described below (the "CREDIT
FACILITIES"), subject to the following terms and conditions.

DEFINITIONS AND SCHEDULES

The attached schedules are incorporated into this agreement by reference.
Schedule "A" contains definitions of capitalized terms used and not otherwise
defined in this agreement. Unless otherwise provided, all dollar amounts are in
Canadian currency and accounting terms are to be interpreted in accordance with
GAAP.

BORROWER

ASPREVA PHARMACEUTICALS CORPORATION (the "BORROWER")

LENDER

Royal Bank of Canada (the "Bank")

CREDIT FACILITIES

Facility (1): $500,000 revolving demand facility, by way of:

         (a) RBP based loans ("RBP LOANS").

Facility (2): US $370,000 revolving demand facility, by way of:

         (a) RBUSBR based loans in US currency ("RBUSBR LOANS").

Facility (3): $600,000 revolving demand facility, by way of:

<PAGE>

ASPREVA PHARMACEUTICALS CORPORATION     Page 2                   April 23, 2004

         (a) Letters of Credit ("LCs");

         (b) Letters of Guarantee ("LGs").

Each use of the Credit Facilities is a "BORROWING" and all such usages
outstanding at any time are "BORROWINGS". Schedule "B" contains notice
provisions applicable to Borrowings that must be complied with. Schedule "C"
contains terms and conditions applicable to Borrowings made otherwise than by
way of RBP Loans or RBUSBR Loans which must be complied with.

FEF CONTRACTS

At the Borrower's request the Bank may enter into Foreign Exchange Forward
Contracts ("FEF CONTRACTS") with the Borrower from time to time. The Bank makes
no commitment to enter into any FEF Contract and may at any time in its sole
discretion decline to enter into any FEF Contract. FEF Contracts will be
governed by the terms and conditions set forth in the FEF Contracts Schedule
attached hereto.

TERMS OF OTHER FACILITIES

The Credit Facilities are in addition to the following:

      (a)   a lease line of credit in an aggregate principal amount of
            $2,000,000 which facility is made available, provided:

            -     the aggregate outstanding amount under this lease line of
                  credit and Facility (3) shall not exceed $2,000,000;

            -     this lease line of credit is made available at the sole
                  discretion of the Bank and the Bank may cancel or restrict
                  availability of any unutilized portion of this facility at any
                  time and from time to time without notice;

            -     the determination by the Bank as to whether it will enter into
                  any lease transaction under this facility will be entirely at
                  its sole discretion and, in the event that the Bank shall
                  determine to enter into any particular lease transaction, the
                  lease transaction will be governed by this agreement and
                  separate agreements between the Borrower and the Bank;

      (b)   corporate VISA to a maximum amount of $200,000 which is governed by
            this agreement and separate agreements between the Borrower and the
            Bank.

In the event of conflict between this agreement and any separate agreement
delivered in connection with any such other facilities, the terms of such
separate agreement shall govern.

PURPOSE

Facility (1)

To cover potential fund/investment transfer/redemption delays.

Facility (2)

To cover potential USD fund/investment transfer/redemption delays.

<PAGE>

ASPREVA PHARMACEUTICALS CORPORATION     Page 3                   April 23, 2004

Facility (3)

To cover potential security requirements should client select to finance office
equipment/fixtures through Steelcase Financial versus the Bank.

AVAILABILITY

Facilities (1) and, (2)

The Borrower may borrow, repay and reborrow up to the amount of these revolving
facilities, provided:

      (a)   these facilities are made available at the sole discretion of the
            Bank and the Bank may cancel or restrict availability of any
            unutilized portion of this facility at any time and from time to
            time without notice or demand.

Facility (3)

The Borrower may borrow, convert, repay and reborrow up to the amount of these
revolving facilities, provided:

      (a)   the aggregate outstanding amount under this facility and the lease
            line of credit shall not exceed $2,000,000;

      (b)   this facility is made available at the sole discretion of the Bank
            and the Bank may cancel or restrict availability of any unutilized
            portion of this facility at any time and from time to time without
            notice or demand.

REPAYMENT

Facilities (1) and (2)

Borrowings under these facilities are expected to revolve with operating
requirements.

Notwithstanding compliance with the covenants and all other terms and conditions
of this agreement, and regardless of the maturities of any outstanding
instruments or contracts, Borrowings under these facilities are repayable on
demand and the Bank may terminate these facilities at any time, without notice
or demand.

Facility (3)

Borrowings under this facility are expected to revolve with operating
requirements. Notwithstanding compliance with the covenants and all other terms
and conditions of this agreement, and regardless of the maturities of any
outstanding instruments or contracts,

Borrowings under this facility are repayable on demand and the Bank may
terminate this facility at any time, without notice or demand.

Upon demand or termination, the Borrower shall pay to the Bank all Borrowings
outstanding under this facility including, without limitation, an amount equal
to the aggregate of the face amounts of all LCs and LGs which are unmatured or
unexpired, which amount shall be held by the Bank as security for the Borrower's
obligations to the Bank in respect of such instruments or contracts. The Bank
may enforce its rights to realize upon its security and retain an amount

<PAGE>

ASPREVA PHARMACEUTICALS CORPORATION     Page 4                   April 23, 2004

sufficient to secure the Bank for the Borrower's obligations to the Bank in
respect of such instruments or contracts.

INTEREST RATES AND FEES

Facility (1)

RBP Loans:      REP plus 0.125% per annum.

Facility (2)

RBUSBR Loans:   RBUSBR plus 0.125% per annum.

Facility (3)

LCs:           fee to be quoted by the Bank at the time of issue of each LC.

LGs:           fee to be quoted by the Bank at the time of issue of each LG,
               subject to a minimum fee of $100 in the currency of issue.

Application Fee

The application fee of $5,000 is waived.

Revolvement Fee-Facility (1)

An administration fee of $25 per month, for revolving RBP Loans under Facility
(1) is payable monthly in arrears on such date as the Bank may determine.

Revolvement Fee - Facility (2)

An administration fee of $25 in US currency per month, for revolving RBUSBR
Loans under Facility (2) is payable monthly in arrears on such date as the Bank
may determine.

CALCULATION AND PAYMENT OF INTEREST AND FEES

RBP Loans and RBUSBR Loans

The Borrower shall pay interest on each RBP Loan and RBUSBR Loan, monthly in
arrears, on the 21st day of each month. Such interest will be calculated monthly
and will accrue daily on the basis of the actual number of days elapsed and a
year of 365 days. Interest on RBUSBR Loans shall be paid in US currency.

LC Fees

The Borrower shall pay an LC fee on the date of any payment made by the Bank
pursuant to a drawing under any LC calculated on the amount drawn, based upon
the number of days the LC was outstanding and a year of 365 days. If the total
amount available under any LC has not been drawn prior to the expiry of such LC,
the Borrower shall pay an LC fee calculated on the undrawn portion of such LC on
the expiry date thereof, based upon the number of days the LC was outstanding
and a year of 365 days.

LG Fees

The Borrower shall pay an LG fee on the date of issuance of any LG calculated on
the face amount of the LG issued and based on the number of days in the term
thereof and a year of 365 days.

<PAGE>

ASPREVA PHARMACEUTICALS CORPORATION     Page 5                   April 23, 2004

Limit on Interest

The Borrower shall not be obligated to pay any interest, fees or costs under or
in connection with this agreement in excess of what is permitted by law.

Overdue Payments

Any amount that is not paid when due hereunder shall, unless interest is
otherwise payable in respect thereof in accordance with the terms of this
agreement or the instrument or contract governing same, bear interest until paid
at the rate of RBP plus 5% per annum or, in the case of an amount in US
currency, RBUSBR plus 5% per annum.

Equivalent Yearly Rates

The annual rates of interest or fees to which the rates calculated in accordance
with this agreement are equivalent, are the rates so calculated multiplied by
the actual number of days in the calendar year in which such calculation is made
and divided by 365.

Time and Place of Payment

Amounts payable by the Borrower hereunder shall be paid at the Branch of Account
in the applicable currency. Amounts due on a day other than a Business Day shall
be deemed to be due on the Business Day next following such day. Interest and
fees payable under this agreement are payable both before and after any or all
of default, maturity date, demand and judgement.

EXCHANGE RATE FLUCTUATIONS

If, for any reason, the amount of Borrowings outstanding under any facility,
when converted to the Equivalent Amount in Canadian currency, exceeds the amount
available under such facility, the Borrower shall immediately repay such excess
or shall secure such excess to the satisfaction of the Bank.

EVIDENCE OF INDEBTEDNESS

The Bank shall open and maintain at the Branch of Account accounts and records
evidencing the Borrowings made available to the Borrower by the Bank under this
agreement. The Bank shall record the principal amount of each Borrowing, the
payment of principal and interest and all other amounts becoming due to the Bank
under this agreement. The Bank's accounts and records constitute, in the absence
of manifest error, conclusive evidence of the indebtedness of the Borrower to
the Bank pursuant to this agreement.

The Borrower authorizes and directs the Bank to automatically debit, by
mechanical, electronic or manual means, any bank account of the Borrower for all
amounts payable by the Borrower to the Bank pursuant to this agreement.

GENERAL ACCOUNT

The Borrower shall establish current accounts with the Bank in each of Canadian
currency and US currency (each a "GENERAL ACCOUNT") for the conduct of the
Borrower's day to day banking business. If the balance in a General Account:

<PAGE>

ASPREVA PHARMACEUTICALS CORPORATION     Page 6                   April 23, 2004

      (a)   is a credit, the Bank may apply, at any time in its discretion, the
            amount of such credit or part thereof, rounded to the nearest
            $10,000 in Canadian currency or US currency, as applicable, as a
            repayment of Borrowings outstanding by way of RBP Loans or RBUSBR
            Loans, as applicable, under Facilities (1) and (2), or

      (b)   is a debit, the Bank may, subject to availability, make available a
            Borrowing by way of an RBP Loan or RBUSBR Loans, as applicable,
            under Facilities (1) and (2) in an amount, rounded to the nearest
            $10,000 in Canadian currency or US currency, as applicable, as is
            required to place the General Account at not less than a zero
            balance.

CONDITIONS PRECEDENT

The availability of any Borrowing is conditional upon the receipt of

      (a)   a duly executed copy of this agreement;

      (b)   the security provided for herein, in form and substance satisfactory
            to the Bank, registered as required to perfect and maintain the
            security created thereby and such certificates, authorizations,
            resolutions and legal opinions as the Bank may reasonably require;

      (c)   the following documents:

            -     audited financial statements for the year ended December 31,
                  2003;

            -     fiscal 2004 budget/projections, to the Bank's satisfaction
                  (not applicable to Facility (3)); and

            -     current breakdown of new share capital structure, to the
                  Bank's satisfaction.; and

      (d)   such financial and other information or documents relating to the
            Borrower as the Bank may reasonably require.

SECURITY

Security for the Borrowings and all other obligations of the Borrower to the
Bank shall include:

      (a)   General security agreement on the Bank's form 924 signed by the
            Borrower constituting a first ranking security interest in all
            personal property of the Borrower;

      (b)   Letter of Undertaking, signed by the Borrower and acknowledged by
            RBC Dominion Securities ("RBCDS"), to maintain a minimum $10,000
            cash and equivalents within portfolio at RBCDS.

<PAGE>

ASPREVA PHARMACEUTICALS CORPORATION     Page 7                   April 23, 2004

REPRESENTATIONS AND WARRANTIES

The Borrower represents and warrants to the Bank, which representations and
warranties are deemed to be repeated as at the time of each Borrowing hereunder,
that:

      (a)   it is a corporation duly incorporated, validly existing and duly
            registered or qualified to carry on business in all jurisdictions
            where it carriers on business, including in the Province of British
            Columbia;

      (b)   the execution, delivery and performance by it of this agreement have
            been duly authorized by all necessary actions and do not violate its
            constating documents or any Applicable Laws or agreements to which
            it is subject or by which it is bound;

      (c)   no event has occurred which constitutes, or which, with notice,
            lapse of time, or both, would constitute, a breach of any covenant
            or other term or condition of this agreement or any security
            agreement given in connection therewith.

REPORTING COVENANTS

The Borrower covenants and agrees with the Bank, while this agreement is in
effect, to provide the Bank with:

      (a)   Monthly: RBCDS Investment Summary/Statement on Investment Holdings,
            within 30 days of each month end;

      (b)   Quarterly: company prepared unit and consolidated financial
            statements for the Borrower within 60 days of each fiscal quarter
            end;

      (c)   Annually: audited unit and consolidated financial statements for the
            Borrower, within 120 days of each fiscal year end; and

      (d)   such other financial and operating statements and reports as and
            when the Bank may reasonably require.

GENERAL COVENANTS

The Borrower covenants and agrees with the Bank, while this agreement is in
effect:

      (a)   to pay all sums of money when due by it under this agreement;

      (b)   to provide the Bank with prompt written notice of any event which
            constitutes, or which, with notice, lapse of time, or both, would
            constitute a breach of any covenant or other term or condition of
            this agreement or any security agreement given in connection
            therewith;

      (c)   to give the Bank 30 days prior written notice of any intended change
            in the ownership of its shares and not to consent to or facilitate a
            change in the ownership of its shares without the prior written
            consent of the Bank;

<PAGE>

ASPREVA PHARMACEUTICALS CORPORATION     Page 8                   April 23, 2004

      (d)   to keep its assets fully insured against such perils and in such
            manner as would be customarily insured by companies carrying on a
            similar business or owning similar assets;

      (e)   if the Borrower owns any commercial buildings located in
            Metropolitan Vancouver, the Lower Fraser Valley, Metropolitan
            Victoria or Saanich Peninsula, then, in addition to (d) above, the
            Borrower shall insure and keep fully insured such commercial
            buildings against risk of earthquake;

      (f)   to file all material tax returns which are to be filed by it from
            time to time, to pay or make provision for payment of all taxes
            (including interest and penalties) and Potential Prior-Ranking
            Claims when due, and to provide adequate reserves for the payment of
            any tax, the payment of which is being contested;

      (g)   to comply in all material respects with all Applicable Laws
            including, without limitation, all Environmental Laws;

      (h)   not to, without the prior written consent of the Bank, grant,
            create, assume or suffer to exist any mortgage, charge, lien,
            pledge, security interest or other encumbrance affecting any of its
            properties, assets or other rights;

      (i)   not to, without the prior written consent of the Bank, sell,
            transfer, convey, lease or otherwise dispose of any of its
            properties or assets other than in the ordinary course of business
            and on commercially reasonable terms;

      (j)   not to, without the prior written consent of the Bank, guarantee or
            otherwise provide for, on a direct, indirect or contingent basis,
            the payment of any monies or performance of any obligations by any
            other Person, except as may be provided for herein;

      (k)   not to, without the prior written consent of the Bank, merge,
            amalgamate, or otherwise enter into any other form of business
            combination with any other Person;

      (l)   to provide the Bank with prompt written notice of any non-compliance
            by the Borrower with any Environmental Laws or any Release from the
            land of the Borrower of a Contaminant into the natural environment
            and to indemnify and save harmless the Bank from all liability of
            loss as a result of an Environmental Activity or any non-compliance
            with any Environmental Law;

      (m)   to permit the Bank or its representatives, from time to time, to
            visit and inspect the Borrower's premises, properties and assets and
            examine and obtain copies of the Borrower's records or other
            information and discuss the Borrower's affairs with the auditors,
            counsel and other professional advisers of the Borrower.

<PAGE>

ASPREVA PHARMACEUTICALS CORPORATION     Page 9                   April 23, 2004

Nothing contained in the foregoing Covenants sections shall limit any right of
the Bank under this agreement to terminate or demand payment of, or cancel or
restrict availability of any unutilized portion of, any demand or other
discretionary facility made available under this agreement.

SUCCESSORS AND ASSIGNS

This agreement shall be binding upon and enure to the benefit of the parties and
their respective successors and permitted assigns.

The Bank may assign all or part of its rights and obligations under this
agreement to any Person. The rights and obligations of the Borrower under this
agreement may not be assigned without the prior written consent of the Bank.

The Bank may disclose to potential or actual assignees confidential information
regarding the Borrower (including, any such information provided by the Borrower
to the Bank) and shall not be liable for any such disclosure.

GENERAL

Expenses

The Borrower agrees to pay all fees (including legal fees), costs and expenses
incurred by the Bank in connection with the preparation, negotiation and
documentation of this agreement and the security provided for herein and the
operation or enforcement of this agreement and the security provided for herein.

Review

The Bank may conduct periodic reviews of the affairs of the Borrower, as and
when determined by the Bank, for the purpose of evaluating the financial
condition of the Borrower. The Borrower shall make available to the Bank such
financial statements and other information and documentation as the Bank may
reasonably require and shall do all things reasonably necessary to facilitate
such review by the Bank.

Potential Prior-Ranking Claims

The Borrower hereby grants its consent (such grant to remain in force as long as
this agreement is in effect or any Borrowings are outstanding) to any Person
having information relating to any

Potential Prior-Ranking Claim arising by any law, statute, regulation or
otherwise and including, without limitation, claims by or on behalf of
government to release such information to the Bank at any time upon its written
request for the purpose of assisting the Bank to evaluate the financial
condition of the Borrower.

Set Off

The Bank is authorized, but not obligated, at any time, to apply any credit
balance, whether or not then due, to which the Borrower is entitled on any
account in any currency at any branch or office of the Bank in or towards
satisfaction of the obligations of the Borrower due to the Bank

<PAGE>

ASPREVA PHARMACEUTICALS CORPORATION     Page 10                   April 23, 2004

under this agreement. The Bank is authorized to use any such credit balance to
buy such other currencies as may be necessary to effect such application.

Non-Merger

The provisions of this agreement shall not merge with any security provided to
the Bank, but shall continue in full force for the benefit of the parties
hereto.

Amendments and Waivers

No amendment or waiver of any provision of this agreement will be effective
unless it is in writing signed by the Borrower and the Bank. No failure or
delay, on the part of the Bank, in exercising any right or power hereunder or
under any security document shall operate as a waiver thereof.

Severability

If any provision of this agreement is or becomes prohibited or unenforceable in
any jurisdiction, such prohibition or unenforceability shall not invalidate or
render unenforceable the provision concerned in any other jurisdiction nor
invalidate, affect or impair any of the remaining provisions of this agreement.

Life Insurance Options

The Borrower acknowledges that Borrowings are not insured under the Bank's
Business Loan Insurance Program.

Judgement Currency

If for the purpose of obtaining judgement in any court in any jurisdiction with
respect to this agreement, it is necessary to convert into the currency of such
jurisdiction (the "Judgement Currency") any amount due hereunder in any currency
other than the Judgement Currency, then conversion shall be made at the rate of
exchange prevailing on the Business Day before the day on which judgement is
given. For this purpose "rate of exchange" means the rate at which the Bank
would, on the relevant date, be prepared to sell a similar amount of such
currency in the Toronto foreign exchange market, against the Judgement Currency,
in accordance with normal banking procedures.

In the event that there is a change in the rate of exchange prevailing between
the Business Day before the day on which judgement is given and the date of
payment of the amount due, the Borrower will, on the date of payment, pay such
additional amounts as may be necessary to ensure that the amount paid on such
date is the amount in the Judgement Currency which, when converted at the rate
of exchange prevailing on the date of payment, is the amount then due under this
agreement in such other currency together with interest at RBP and expenses
(including legal fees on a solicitor and client basis). Any additional amount
due from the Borrower under this section will be due as a separate debt and
shall not be affected by judgement being obtained for any other sums due under
or in respect of this agreement.

Governing Law

This agreement shall be construed in accordance with and governed by the laws of
the Province of British Columbia and of Canada applicable therein.

<PAGE>

ASPREVA PHARMACEUTICALS CORPORATION     Page 11                   April 23, 2004

Whole Agreement

This agreement, the security and any other written agreement delivered pursuant
to or referred to in this agreement constitute the whole and entire agreement
between the parties in respect of the Credit Facilities. There are no verbal
agreements, undertakings or representations in connection with the Credit
Facilities.

Joint and Several

Where more than one Person is liable as Borrower [or Guarantor] for any
obligation under this agreement, then the liability of each such Person for such
obligation is joint and several with each other such Person.

Time

Time shall be of the essence in all provisions of this agreement.

Acceptance

This offer is open for acceptance until MAY 14, 2004, after which date it will
be null and void, unless extended in writing by the Bank.

Please confirm your acceptance of this agreement by signing the attached copy of
this letter in the space provided below and returning it to the undersigned.

Yours truly,

/s/ JOHN MCCANNEL

We acknowledge and accept the foregoing terms and conditions as of April 28,
2004.

ASPREVA PHARMACEUTICALS CORPORATION

By: /s/ BRUCE COUSINS
    ------------------------------------
Name: Bruce Cousins
Title: VP Finance & Admin.

By: /s/ RICHARD GLICKMAN
    ------------------------------------
Name: Richard Glickman
Title: CEO

I/We have authority to bind the corporation.

<PAGE>

Schedule "A" to the agreement dated April 23, 2004, between ASPREVA
PHARMACEUTICALS CORPORATION, as Borrower, and Royal Bank of Canada, as the Bank.

                                   DEFINITIONS

For the purpose of this agreement, the following terms and phrases shall have
the following meanings:

"APPLICABLE LAWS" means, with respect to any Person, property, transaction or
event, all present or future Applicable Laws, statutes, regulations, rules,
orders, codes, treaties, conventions, judgements, awards, determinations and
decrees of any governmental, regulatory, fiscal or monetary body or court of
competent jurisdiction in any applicable jurisdiction;

"BRANCH OF ACCOUNT" means the branch of the Bank at which the Borrower's
accounts are maintained. As at the date of this agreement, the "BRANCH OF
ACCOUNT" is the Bank's branch at 1079 Douglas Street, Victoria, B.C.;

"BUSINESS DAY" means a day, excluding Saturday, Sunday and any other day which
shall be a legal holiday or a day on which banking institutions are closed in
the province of the Branch of Account;

"CONTAMINANT" includes, without limitation, any pollutant, dangerous substance,
liquid waste, industrial waste, hazardous material; hazardous substance or
contaminant including any of the foregoing as defined in any Environmental Law;

"ENVIRONMENTAL ACTIVITY" means any activity, event or circumstance in respect of
a Contaminant, including, without limitation, its storage, use, holding,
collection, purchase, accumulation, assessment, generation, manufacture,
construction, processing, treatment, stabilization, disposition, handling or
transportation, or its Release into the natural environment, including movement
through or in the air, soil, surface water or groundwater;

"ENVIRONMENTAL LAWS" means all Applicable Laws relating to the environment or
occupational health and safety, or any Environmental Activity;

"EQUIVALENT AMOUNT" means, with respect to an amount of any currency, the amount
of any other currency required to purchase that amount of the first mentioned
currency through the Bank in Toronto, in accordance with normal banking
procedures;

"GAAP" means, generally accepted accounting principles in effect from time to
time in Canada applied in a consistent manner from period to period;

"LETTER OF CREDIT" or "LC" means a documentary credit issued by the Bank on
behalf of the Borrower for the purpose of paying suppliers of goods;

<PAGE>

ASPREVA PHARMACEUTICALS CORPORATION     Page 2                   April 23, 2004

"LETTER OF GUARANTEE" or "LG" means a documentary credits issued by the Bank on
behalf of the Borrower for the purpose of providing security to a third parry
that the Borrower or a person designated by the Borrower will perform a
contractual obligation owed to such third party.

"PERSON" includes an individual, a partnership, a joint venture, a trust, an
unincorporated organization, a company, a corporation, an association, a
government or any department or agency thereof, and any other incorporated or
unincorporated entity;

"POTENTIAL PRIOR-RANKING CLAIMS" means all amounts owing or required to be paid,
where the failure to pay any such amount could give rise to a claim pursuant to
any law, statute, regulation or otherwise, which ranks or is capable of ranking
in priority to the Bank's security or otherwise in priority to any claim by the
Bank for repayment of any amounts owing under this agreement;

"RBP" and "ROYAL BANK PRIME" each means the annual rate of interest announced by
the Bank from time to time as being a reference rate then in effect for
determining interest rates on commercial loans made in Canadian currency in
Canada;

"RBUSBR" and "ROYAL BANK US BASE RATE" each means the annual rate of interest
announced by the Bank from time to time as a reference rate then in effect for
determining interest rates on commercial loans made in US currency in Canada;

"RELEASE" includes discharge, spray, inject, inoculate, abandon, deposit, spill,
leak, seep, pour, emit, empty, throw, dump, place and exhaust, and when used as
a noun has a similar meaning;

"US" means United States of America.

Schedule "B" to the agreement dated April 23, 2004, between ASPREVA
PHARMACEUTICALS CORPORATION, as Borrower, and Royal Bank of Canada, as the Bank.

                               NOTICE REQUIREMENTS

             AMOUNT                                 PRIOR NOTICE

Under $10,000,000, Canadian or US       By 10:00 a.m. on the day of Borrowing
currency

<PAGE>

Schedule "C" to the agreement dated April 23, 2004, between ASPREVA
PHARMACEUTICALS CORPORATION, as Borrower, and Royal Bank of Canada, as the Bank.

                              BORROWING CONDITIONS

Borrowings made otherwise than by way of RBP Loans or RBUSBR Loans will be
subject to the following terms and conditions:

LCs or LGs:

      (a)   each LC and LG shall expire on a Business Day and shall have a term
            of not more than 365 days;

      (b)   at least 2 Business Days prior to the issue of an LC or LG, the
            Borrower shall execute a duly authorized application with respect to
            such LC or LG and each LC and LG shall be governed by the terms and
            conditions of the relevant application for such contract;

      (c)   an LC or LG may not be revoked prior to its expiry date unless the
            consent of the beneficiary of the LC or LG has been obtained; and

      (d)   if there is any inconsistency at any time between the terms of this
            agreement and the terms of the application for LC or LG, the terms
            of the application for LC or LG shall govern.

<PAGE>

FEF CONTRACTS SCHEDULE TO THE AGREEMENT DATED APRIL 23, 2004, BETWEEN ASPREVA
PHARMACEUTICALS CORPORATION, AS BORROWER, AND ROYAL BANK OF CANADA, AS THE BANK

FEF Contract Definitions

"FOREIGN EXCHANGE FORWARD CONTRACT" or "FEF CONTRACT" means a currency exchange
transaction or agreement or any option with respect to any such transaction now
existing or hereafter entered into between the Borrower and the Bank,

Conditions Applicable to FEF Contracts

At the Borrower's request, the Bank may agree to enter into FEF Contracts with
the Borrower from time to time. The Borrower acknowledges that the Bank makes no
formal commitment herein to enter into any FEF Contract and the Bank may, at any
time and at all times, in its sole and absolute discretion, accept or reject any
request by the Borrower to enter into a FEF Contract. If the Bank does enter
into a FEF Contract with the Borrower, it will do so subject to the following:

      (a)   the Borrower shall promptly issue or countersign and return a
            confirmation or acknowledgement of the terms of each such FEF
            Contract as required by the Bank,

      (b)   the Borrower shall, if required by the Bank, promptly enter into a
            Foreign Exchange and Options Master Agreement or such other
            agreement in form and substance satisfactory to the Bank to govern
            the FEF Contract(s);

      (c)   in the event of demand for payment under the agreement of which this
            schedule forms a part, the Bank may terminate all or any FEF
            Contracts. If the agreement governing any FEF Contract does not
            contain provisions governing termination, any such termination shall
            be effected in accordance with customary market practice. The Bank's
            determination of amounts owing under any terminated FEF Contract
            shall be conclusive in the absence of manifest error. The Bank shall
            apply any amount owing by the Bank to the Borrower on termination of
            any FEF Contract against the Borrower's obligations to the Bank
            under the agreement and any amount owing to the Bank by the Borrower
            on such termination shall be added to the Borrower's obligations to
            the Bank under the agreement and secured by the Bank's security;

     (d)    the Borrower shall pay all required fees in connection with any FEF
            Contracts and indemnify and hold the Bank harmless against any loss,
            cost or expense incurred by the Bank in relation to any FEF
            Contract;

      (e)   any rights of the Bank herein in respect of any FEF Contract are in
            addition to and not in limitation of or substitution for any rights
            of the Bank under any agreement governing such FEF Contract. In the
            event that there is any inconsistency at any

<PAGE>

            time between the terms hereof and any agreement governing such FEF
            Contract, the terms of such agreement shall prevail; and

      (f)   in addition to any security which may be held at any time in respect
            of any FEF Contract, upon request by the Bank from time to time, the
            Borrower will deliver to the Bank such security as is acceptable to
            the Bank as continuing collateral security for the Borrower's
            obligations to the Bank in respect of FEF Contracts.

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