Document:

Exhibit
      10.8

    
       

      
        Portions
          herein identified by [***] have been omitted
          pursuant to a request for confidential treatment and have been filed separately
          with the 

        Commission
          pursuant to Rule 406 of the Securities Act
          of 1933, as amended.

         

      

      
        EXCLUSIVE
          LICENSE AGREEMENT

         

        between

         

        EMORY
          UNIVERSITY

         

        and

         

        COUGAR
          BIOTECHNOLOGY, INC.

         

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

         

        TABLE
          OF
          CONTENTS

         

        
          	
                  ARTICLE
                    1.

                	
                  DEFINITIONS

                	
                  1

                
	
                  ARTICLE
                    2.

                	
                  GRANT
                    OF LICENSE

                	
                  5

                
	
                  ARTICLE
                    3.

                	
                  ROYALTIES
                    AND OTHER PAYMENTS

                	
                  6

                
	
                  ARTICLE
                    4.

                	
                  REPORTS
                    AND ACCOUNTING

                	
                  11

                
	
                  ARTICLE
                    5.

                	
                  PAYMENTS

                	
                  12

                
	
                  ARTICLE
                    6.

                	
                  DEVELOPMENT
                    AND MARKETING PROGRAM

                	
                  12

                
	
                  ARTICLE
                    7.

                	
                  PATENT
                    PROSECUTION

                	
                  14

                
	
                  ARTICLE
                    8.

                	
                  INFRINGEMENT

                	
                  15

                
	
                  ARTICLE
                    9.

                	
                  EXCLUSION
                    OF WARRANTIES 

                	
                  16

                
	
                  ARTICLE
                    10.

                	
                  INDEMNIFICATION
                    AND RELEASE FROM LIABILITY

                	
                  16

                
	
                  ARTICLE
                    11.

                	
                  CONFIDENTIALITY

                	
                  17

                
	
                  ARTICLE
                    12.

                	
                  TERM
                    AND TERMINATION

                	
                  19

                
	
                  ARTICLE
                    13.

                	
                  ASSIGNMENT

                	
                  21

                
	
                  ARTICLE
                    14.

                	
                  MISCELLANEOUS

                	
                  21

                
	
                  ARTICLE
                    15.

                	
                  NOTICES

                	
                  23

                

        

        

        APPENDIX
          A

        APPENDIX
          B

        APPENDIX
          C

         

        
          
            
            

          

          
          

          
            

          

        

        
          
          

        

         

      

    

    THIS
      LICENSE AGREEMENT
      is made
      and entered into as of this 23rd 
      day of
      February, 2004 (hereinafter referred to as “Effective Date”), by and between
      EMORY UNIVERSITY, a non-profit Georgia corporation with offices located at
      Office of Technology Transfer, North Decatur Bldg., Suite 130, 1784 N. Decatur
      Road, Atlanta, Georgia 30322 USA (hereinafter referred to as “EMORY”), and
COUGAR
      BIOTECHNOLOGY, INC.
      a
      for-profit California corporation with offices at 10940 Wilshire Blvd., Suite
      600, Los Angeles, California 90024 USA (hereinafter referred to as “CBT”).

     

    WITNESSETH

     

    WHEREAS,
      EMORY
      is the assignee of all right, title, and interest in inventions developed by
      employees of EMORY and is responsible for the protection and commercial
      development of such inventions; 

     

    WHEREAS,
      Drs.
      Harish Joshi, Judith Kapp, Yong Ke, Fuqiang Liu, David Archer, Cheryl Armstrong,
      Jaren Landen and Keqiang Ye are employees of EMORY and are named as inventors
      on
      Emory invention disclosures: (i) no. 97012, titled: “The Antitissue Drug
      Noscapine is a Tubulin Binding Anti-Tumor Drug”, (ii) no. 98056, titled: “Use of
      the Anti-Cancer Agent, Noscapine, as an Immunological Adjuvant for Tumor
      Therapy”, (iii) no. 01028, titled: “Noscapine and Noscapine Derivatives, Useful
      as Anticancer Agents”, and (iv) no. 02040, titled: “Delivery Systems and Methods
      for Nocapine and Noscapine Derivatives, Useful as Anticancer Agents”, which are
      the subject of those issued patents and pending patent applications listed
      in
      Appendix “A” herein (hereinafter “Inventions”; 

     

    WHEREAS,
      CBT
      represents that it has the necessary expertise and will, as appropriate, acquire
      the necessary resources to fully develop, seek approval for, and market
      therapeutic products based upon the Inventions claimed in the above referenced
      issued patents and pending patent applications; and 

     

    WHEREAS,
      EMORY
      desires to have such Inventions developed, commercialized, and made available
      for use by the public.

     

    NOW,
      THEREFORE,
      for and
      in consideration of the mutual covenants and the premises herein contained,
      the
      parties, intending to be legally bound, hereby agree as follows.

     

    ARTICLE
      1. DEFINITIONS

     

    The
      following terms as used herein shall have the following meanings:

     

    1.1 “Affiliate”
      shall mean any corporation or non-corporate business entity which controls,
      is
      controlled by, or is under common control with a Party to this Agreement. A
      corporation or non-corporate business entity shall be regarded as in control
      of
      another corporation if it owns, or directly or indirectly controls, at least
      fifty percent (50%) of the voting stock of the other corporation, or (i) in
      the
      absence of the ownership of at least fifty percent (50%) of the voting stock
      of
      a corporation or (ii) in the case of a non-corporate business entity, or
      non-profit corporation, if it possesses the power to direct or cause the
      direction of the management and policies of such corporation or non-corporate
      business entity, as applicable.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    1.2 “Agreement”
      or "License Agreement" shall mean this Agreement, including all APPENDICES
      attached to this Agreement.

     

    1.3 “Authorization”
      shall mean all approvals, licenses, registrations or authorizations of any
      national, supra-national, regional, state or local regulatory agency,
      department, bureau, commission, council or other government entity, necessary
      for the manufacture, distribution, use or sale of a pharmaceutical or diagnostic
      product in a given regulatory jurisdiction outside of the United
      States.

     

    1.4 “Authorized
      Third Party” shall mean a Third Party to which CBT grants rights to make, have
      made, use, sell or offer for sale Licensed Products and/or a Third Party
      designated by CBT to market or co-market Licensed Products and shall not include
      distributors, wholesalers, pharmacies or pharmacy chains, managed care
      organizations, group purchasers or others to whom CBT or such marketer or
      co-marketer sell Licensed Products as a result of arms-length transactions.
      

     

    1.5 “Consecutive
      Licensed Product” shall mean a Licensed Product that has as its active
      pharmaceutical ingredient (“API”) a different API than the First Licensed
      Product or any other pre-existing Licensed Product. For avoidance of doubt,
      a
      derivative of noscapine shall be a different API than noscapine or other
      derivative of noscapine.

     

    1.6 “Dollars”
      shall mean United States dollars.

     

    1.7 “Earned
      Royalties” shall mean royalties payable to EMORY by CBT for the Sale of a
      Licensed Product.

     

    1.8 “EMORY”
      shall mean Emory University.

     

    1.9 “FDA”
      shall mean the United States Food and Drug Administration or successor
      entity.

     

    1.10 “Field
      of
      Use” shall mean any therapeutic use that is intended to prevent, treat,
      ameliorate or cure a human disease, pathology or condition.

     

    1.11 First
      Commercial Sale” shall mean the first Sale of a Licensed Product to a Third
      Party after Regulatory Approval or Authorization has been obtained for such
      Licensed Product.

     

    1.12 “First
      Licensed Product” shall mean the first Licensed Product for which an IND or its
      equivalent in a Major Market becomes effective, or any Licensed Product that
      replaces such product pursuant to Section 3.3.1.

     

    1.13 “IND”
      shall mean an Investigational New Drug application in the United
      States.

     

    1.14 “Indemnitees”
      shall mean the Inventors, EMORY, its directors, employees and students, and
      their heirs, executors, administrators, successors and legal
      representatives.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    1.15 “Inventors”
      shall mean Harish Joshi, Judith Kapp, Yong Ke, Fuqiang Liu, David Archer, Cheryl
      Armstrong , Jaren Landen and Keqiang Ye.

     

    1.16 “Licensed
      Patents” shall mean those issued patents and patent applications identified in
      Appendix “A”, together with any and all substitutions, extensions, divisionals,
      continuations, continuations-in-part (to the extent that the subject matter
      is
      disclosed and enabled in the parents), or foreign counterparts of such patent
      applications and patents which issue thereon any where in the world, including
      reexamined and reissued patents.

     

    1.17 “Licensed
      Product” shall mean any method, service or product within the Field of Use, the
      manufacture, use, offer for sale or sale of which is made or performed from
      or
      using Licensed Patents or Licensed Technology.

     

    1.18 “Licensed
      Technology” shall mean: (a) all technical information and data, whether or not
      patented, presently known or learned, invented, or developed by the Inventors
      or
      any employees of EMORY working under the Inventor’s direct supervision and while
      they are under a duty to assign intellectual property rights to Emory, to the
      extent that (i) such technical information and data are required for the use
      or
      practice of the Licensed Patents or Licensed Technology as permitted herein;
      and
      (ii) Emory possesses the right to license the use of such information to
      Licensee for commercial purposes without incurring financial or other
      non-contingent, material obligations to any Third Parties and without breaching
      any obligations of confidentiality with such Third Parties.

     

    1.19 “Licensed
      Territory” shall mean the world.

     

    1.20 “Major
      Market” shall mean the European Union, Canada, Japan.

     

    1.21 “Material
      Transfer Agreement” shall mean a legal agreement governing the transfer of
      material pertaining to the Licensed Technology to a non-profit Third Party
      (“Recipient”), the purpose of which is to govern such issues as: (i) ownership
      of the transferred material and any of the modifications and derivatives made
      by
      the Recipient; (ii) limits on the use of the material by the Recipient, and
      to
      recover, where necessary, any costs in providing the material; (iii)
      confidentiality of information relating to the material, and publication
      restrictions; (iv) rights to inventions and use of research results; (v) protect
      intellectual property or valuable know-how; and (vi) protect EMORY from legal
      liability as a result of the use of the material or any results
      obtained.

     

    1.22 “NDA”
      shall mean a New Drug Application.

     

    1.23 “Net
      Sales” shall mean the amounts received by CBT or an Affiliate or sublicensee of
      CBT for the Sale of Licensed Products to a Third Party purchaser, less the
      following deductions, to the extent that such amounts are included in the gross
      amounts received: (a) freight, packaging and insurance costs incurred in
      transporting the Licensed Product to customers; (b) quantity, cash and other
      trade discounts actually allowed and taken (other than advertising allowances;
      and fees or commissions to CBT’ employees); (c) customs duties, surcharges,
      sales and other taxes (but excluding income taxes) and other governmental
      charges incurred in connection with the sale, transfer, use, exportation or
      importation of Licensed Products; and (d) amounts repaid or credited by reason
      of returns, recalls, rejections or retroactive price reductions. Where a sale
      is
      deemed consummated by a receipt of non-cash consideration for Licensed Products,
      “Net Sales” shall be calculated based on the average Net Sales of Licensed
      Products during the three (3) month period immediately preceding such
      sale.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    1.24 “Parties”
      shall mean CBT and EMORY and “Party” shall mean either one.

     

    1.25 “Phase
      I”
shall mean a human clinical trial, the principal purpose of which is to
      determine toxicity, absorption, metabolism and/or safe dosage range in patients
      with the disease target being studied as required in 21 C.F.R. §312 or its
      equivalent in a Major Market. A Phase I study shall be deemed to have commenced
      when the first patient has been dosed with the drug substance.

     

    1.26 “Phase
      III” shall mean a human clinical trial, the principal purpose of which is to
      establish safety and efficacy in patients with the disease target being studied
      as required in 21 C.F.R. §312 or its equivalent in a Major Market. A Phase III
      study shall also include any other human clinical trial intended to provide
      the
      substantial evidence of efficacy necessary to support the filing of an
      approvable NDA (such as a combined Phase II/Phase III study, or any Phase III
      study in lieu of a Phase II study) (a “Pivotal Study”), whether or not such
      study is a traditional
      Phase III study. A
      Phase
      III study shall be deemed to have commenced when the first patient has been
      dosed with the drug substance.

     

    1.27 “Regulatory
      Approval” shall mean the approvals, registrations or authorizations of the FDA
      or other applicable regulatory agency necessary for the manufacture,
      distribution, use or sale of a pharmaceutical or diagnostic product in the
      United States.

     

    1.28 “Sale”
or
      “Sold” shall mean the sale, transfer, exchange, or other commercial disposition
      of Licensed Products whether by gift or otherwise by CBT, its Affiliates or
      sublicensees or any Authorized Third Party authorized by CBT to make such sale,
      transfer, exchange or disposition including, but not limited to, the commercial
      use of Licensed Products by CBT or any other person or entity authorized (other
      than concomitant with commercial sale of such product in a royalty-bearing
      transaction) to use Licensed Products by CBT. Sales of Licensed Products shall
      be deemed consummated upon the first to occur of: (a) receipt of payment from
      the purchaser; (b) delivery of Licensed Products to the purchaser or a common
      carrier; (c) release of Licensed Products from consignment; (d) if deemed Sold
      by use, when first put to such use; or (e) if otherwise transferred, exchanged,
      or disposed of, whether by gift or otherwise, when such transfer, exchange,
      gift, or other disposition occurs. 

     

    1.29 “Third
      Party” shall mean any entity or individual other than EMORY, CBT or an Affiliate
      of either of them. 

     

    1.30 “U.S.
      Government License” shall mean the non-exclusive licenses to the U.S. Government
      or agencies thereof pursuant to NIH grant No.’s GM51389, CA70372, copies of
      which are attached hereto as Appendix “B”.

     

    1.31 “Valid
      Claim” shall mean, an issued claim of any unexpired patent or claim of any
      pending patent application included among the Licensed Patents, which patent
      has
      not been held unenforceable, unpatentable or invalid by a decision of a court
      or
      governmental body of competent jurisdiction, unappealable or unappealed within
      the time allowed for appeal, which has not been rendered unenforceable through
      disclaimer or otherwise, and which has not been lost through an interference
      proceeding or abandoned.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      2. GRANT
      OF LICENSE

     

    2.1 License.
      Subject
      to the terms and conditions of the License Agreement, Emory hereby grants to
      Licensee and its Affiliates the worldwide, exclusive right and license to
      practice the Licensed Patents and use the Licensed Technology in the Field
      of
      Use and to discover, develop, have made, use, sell, have sold, offer for sale
      and import Licensed Products in the Licensed Territory in the Field of Use
      during the term of this Agreement. 

     

    2.2 Government
      Rights.
      The
      license granted in Section 2.1 above is subject to the U.S. Government Licenses
      and other rights retained by the United States in inventions developed by
      nonprofit institutions with the support of federal funds that are set forth
      in
      35 USCA §201 et seq. and 37 CFR 401 et seq. (as they may be amended from time to
      time by the Congress of the United States or through administrative procedures)
      to the extent such U.S. government Licenses and such rights apply to the
      Licensed Patents and Licensed Technology.

     

    2.3 Retained
      License.
      The
      license granted in Section 2.1 above is further subject to a right and license
      retained by EMORY on behalf of itself and its research collaborators to use
      Licensed Products and practice Licensed Patents and Licensed Technology solely
      for non-profit research and education purposes only. EMORY shall require its
      research collaborators, employed by other institutions or organizations and
      not
      by EMORY, to enter into a Material Transfer Agreement, through which EMORY
      may
      grant the right to use Licensed Products and to practice Licensed Patents and
      Licensed Technology solely for non-profit research purposes only to such
      research collaborators. A copy of each such executed Material Transfer Agreement
      shall be provided to Licensee within sixty (60) days of the date of the last
      to
      sign. 

     

    2.4 Sublicenses.
      CBT may
      grant sublicenses to practice Licensed Patents and Licensed Technology to
      discover, develop, make, have made, use, sell, offer for sale or import Licensed
      Products in the Licensed Territory in the Field of Use, provided that: (a)
      for
      any such Third Party sublicensees that are publicly traded companies and have
      a
      fully-diluted market capitalization of greater than [***], CBT shall give prompt
      written notice to EMORY, and (b) for any such Third Party sublicensees that
      are
      publicly traded companies and have a fully-diluted market capitalization of
      less
      than [***], CBT shall first obtain EMORY's prior written approval, which
      approval shall not be unreasonably withheld or delayed. CBT shall provide EMORY
      with copies of all such sublicense agreements within thirty (30) days of their
      execution date, provided, however, that CBT shall have the right to redact
      any
      confidential information in such copies of sublicense agreements that does
      not
      relate in any way to either the technology licensed hereunder or the economic
      terms therein (such as any technical information relating to other technologies
      of CBT or of its sublicensees). CBT shall remain responsible to EMORY for the
      payment of all fees and Earned Royalties due under this Agreement, whether
      or
      not such payments are made to CBT by its sublicensees. CBT shall include in
      any
      sublicense granted pursuant to this Agreement, a provision requiring the
      sublicensee to indemnify EMORY and maintain liability coverage to the same
      extent that CBT is so required pursuant to Sections 10.2, 10.3 and 10.4 of
      this
      Agreement.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    2.5 No
      Implied License.
      The
      license and rights granted in this Agreement shall not be construed to confer
      any rights upon CBT by implication, estoppel, or otherwise as to any technology
      not specifically identified in this Agreement as Licensed Patents or Licensed
      Technology.

     

    2.6
       To
      EMORY’s’ knowledge and belief, subject to any rights of the United States
      government, EMORY has all right, title, and interest in and to the Licensed
      Patents, including exclusive, absolute, irrevocable right, title and interest
      thereto, free and clear of all liens, charges, encumbrances or other
      restrictions or limitations of any kind whatsoever and to EMORY’s knowledge and
      belief there are no licenses, options, restrictions, liens, rights of third
      parties, disputes, royalty obligations, proceedings or claims relating to,
      affecting, or limiting its rights or the rights of CBT under this Agreement
      with
      respect to, or which may lead to a claim of infringement or invalidity
      regarding, any part or all of the Licensed Patents and their use as contemplated
      in the underlying patent applications as presently drafted. 

     

    2.7 To
      EMORY’s knowledge and belief there is no claim, pending or threatened, of
      infringement, interference or invalidity regarding, any part or all of the
      Licensed Patents and their use as contemplated in the underlying patent
      applications as presently drafted.

     

    2.8 To
      EMORY’s knowledge and belief the Inventors of Section 1.15 are the only
      inventors of the Licensed Patents and Licensed Technology.

    

    ARTICLE
      3. ROYALTIES
      AND OTHER PAYMENTS

     

    3.1 Earned
      Royalties on Sales of Licensed Products.

     

    3.1.1 On
      Sales of Licensed Product by CBT and Affiliates with Valid Claim.
      Subject
      to Section 3.1.4, for each Licensed Product sold in a country in the Licensed
      Territory in which there is, at the time of such sale, at least one Valid Claim
      in an issued Licensed Patent in such country that claims (i) such Licensed
      Product, (ii) the manufacture of such Licensed Product, or (iii) the use of
      such
      Licensed Product in the Field of Use, CBT shall pay EMORY Earned Royalties
      equal
      to the following percentages of the aggregate annual Net Sales of such Licensed
      Products sold in such countries in the Licensed Territory in the Field of Use
      by
      CBT and its Affiliates:

     

    (a) For
      the
      portion of such aggregate annual Net Sales of such Licensed Products in such
      countries in the Field of Use less than [***] in any calendar
      year, [***] percent [***] of such Net Sales;

     

    (b) For
      the
      portion of such aggregate annual Net Sales of such Licensed Products in such
      countries in the Field of Use between [***] and [***] in any calendar year,
      [***] percent [***] of such Net Sales; and

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    (c) For
      the
      portion of such aggregate annual Net Sales of such Licensed Products in such
      countries in the Field of Use greater than [***] in any calendar
      year, [***] percent [***] of such Net Sales.

     

    3.1.2 On
      Sales of Licensed Product by CBT and Affiliates with no Valid
      Claim.
      Subject
      to Section 3.1.4, for each Licensed Product sold in a country in the Licensed
      Territory in which there is not,
      at the
      time of such sale, at least one Valid Claim in an issued Licensed Patent in
      such
      country that claims (i) such Licensed Product, (ii) the manufacture of such
      Licensed Product, or (iii) the use of such Licensed Product in the Field of
      Use,
      CBT shall pay EMORY Earned Royalties equal to the following percentages of
      the
      aggregate annual Net Sales of such Licensed Products sold in such countries
      in
      the Licensed Territory in the Field of Use by CBT and its Affiliates:

     

    (a) For
      the
      portion of such aggregate annual Net Sales of such Licensed Products in such
      countries in the Field of Use less than [***] in any calendar
      year, [***] percent [***] of such Net Sales;

     

    (b) For
      the
      portion of such aggregate annual Net Sales of such Licensed Products in such
      countries in the Field of Use between [***] and [***] in any calendar year,
      [***] percent [***] of such Net Sales; and

     

    (c) For
      the
      portion of such aggregate annual Net Sales of such Licensed Products in such
      countries in the Field of Use greater than [***] in any calendar
      year, [***] percent [***] of such Net Sales.

     

    3.1.3 On
      Sales of Licensed Product by CBT’s Sublicensees.
      CBT
      shall pay EMORY that portion of sublicense fees (excluding Initial Sublicense
      Fees) received by CBT on Sales of Licensed Products by its sublicensees as
      Earned Royalties in the percentage amount specified below opposite the
      occurrence of the corresponding designated event:

     

    
      	
              Event

            	 	
              Earned
                Royalties

            	 
	
              (Sublicense
                date of execution)

            	 	
              (%
                of sublicense fees)

            	 
	
              (i)       
                If
                a sublicense or other Third Party agreement is executed with CBT
                prior to
                the commencement of a Phase I trial by CBT for the First Licensed
                Product

            	 	 	
              
              

              [***]%

            	
              
              

               

            
	
              (ii)      
                If
                a sublicense or other Third Party agreement is executed with CBT
                after the
                effective date of the commencement of a Phase I trial by CBT for
                the First
                Licensed Product but prior to the date of commencement of the first
                Phase
                III Clinical Trial for the First Licensed Product

            	 	 	
              
              

              [***]%

            	
              
              

               

            
	
              (iii)     
                If
                a sublicense or other Third Party agreement is executed with CBT
                after the
                date of commencement of the first Phase III Clinical Trial for the
                First
                Licensed Product

            	 	 	
              
              

              [***]%

            	
              
              

               

            

    

     

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    3.1.4 In
      the
      event that CBT’s outside patent counsel together with EMORY’s outside patent
      counsel agree (which discussion and agreement shall be in good faith) that
      patent licenses from Third Parties are reasonably required by CBT, its
      Affiliates or its sublicensees to make, use, offer for sale, sell or import
      any
      Licensed Product in any given country, EMORY and CBT shall negotiate in good
      faith with the intention of reaching a fair and equitable formula on how any
      amount paid by CBT to such Third Parties shall be shared by CBT and EMORY,
      EXCEPT THAT Earned Royalties payable to EMORY on Net Sales of such Licensed
      Products shall not be less than [***] percent [***].

     

    3.2 Upfront
      Sublicense Fees.
      

     

    3.2.1 CBT
      shall
      pay EMORY that portion of any license fee or upfront fee (other than purchases
      of debt or equity securities of CBT, payments for research and development
      of
      the Licensed Technology or the creation of a sales and marketing force) (the
      “Initial Sublicense Fee”) received by CBT as consideration paid for access and
      rights to the Licensed Patents and/or Licensed Technology by its sublicensees
      in
      the percentage amount specified below opposite the occurrence of the
      corresponding designated event:

     

    
      	
              Event

            	 	
              Upfront
                Sublicense Fee

            	 
	
              (Sublicense
                date of execution)

            	 	
              (%
                of Initial

              Sublicense
                Fee)

            	 
	
              (i)       
                If
                a sublicense or other Third Party agreement is executed with CBT
                prior to
                the commencement of a Phase I trial by CBT for the First Licensed
                Product

            	 	 	
              
              

              [***]%

            	
              
              

               

            
	
              (ii)      
                If
                a sublicense or other Third Party agreement is executed with CBT
                after the
                commencement of a Phase I trial by CBT for the First Licensed Product
                but
                prior to the date of commencement of the first Phase III Clinical
                Trial
                for the First Licensed Product

            	 	 	
              
              

              [***]%

            	
              
              

               

            
	
              (iii)     
                If
                a sublicense or other Third Party agreement is executed with CBT
                after the
                date of commencement of the first Phase III Clinical Trial for the
                First
                Licensed Product

            	 	 	
              
              

              [***]%

            	
              
              

               

            

    

     

    In
      the
      event that CBT receives equity or other non-cash consideration (collectively,
      “Non-liquid Assets”), as payment for the Initial Sublicense Fee, EMORY shall
      receive its designated portion of any such Non-liquid Asset as received by
      CBT
      to the extent transferable by CBT, or in the alternative CBT may, at its
      election, pay to EMORY a cash payment equal to EMORY’s designated portion of the
      fair value of any such Non-Liquid Asset. The payment to EMORY shall be EMORY’s
      designated portion of the then current fair market value of such asset. For
      purposes of clarity, if a sublicensee purchases shares of CBT’s stock from CBT
      in conjunction with a sublicense hereunder, CBT shall pay to EMORY a cash
      payment equal to EMORY’s designated portion of the premium (that is, excess over
      fair market value), if any, paid by such sublicensee for such CBT
      shares.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    3.3 Milestone
      Payments.
      

     

    3.3.1 CBT,
      its
      Affiliates or its sublicensee shall pay EMORY a milestone payment (the
      "Milestone Payment") in the amount specified below no later than thirty (30)
      days after the occurrence of the corresponding event designated below for the
      First Licensed Product:

     

    
      	
              Event

            	 	
              Milestone
                Payment

            	 
	
            	 	 	 
	
              (i)       
                The
                date of commencement of the first Phase I trial by CBT, its Affiliates,
                or
                sublicensees for the First Licensed Product

            	 	
              $

            	
              [***]

            	 
	
              (ii)      
                The
                date of commencement of the first Phase III Clinical Trial for the
                First
                Licensed Product

            	 	
              $

            	
              [***]

            	 
	
              (iii)  
The
                date of Regulatory Approval or Authorization of the First Licensed
                Product.

            	 	$	
              [***]

            	 
	
              (iv) 
                The
                date of Regulatory Approval or Authorization of the First Licensed
                Product
                or Consecutive Licensed Product in an additional new indication (limit
                3)

            	 	
              $

            	
              [***] for
                each new approval (limit 3)

            	
               

            

    

    

    Should
      the First Licensed Product be abandoned by CBT, its Affiliate or sublicensee
      for
      any reason following the filing of an IND or its equivalent in a Major Market
      and prior to the First Commercial Sale and should another Licensed Product
      commence Phase III Clinical Trials, then such Licensed Product shall become
      the
      replacement First Licensed Product and CBT, its Affiliate or sublicensee shall
      resume the Milestone Payments, starting at the event subsequent to the event
      for
      which a Milestone Payment had already been paid. No Milestone Payment shall
      be
      paid more than once for the First Licensed Product.

     

    3.4 License
      Maintenance and Performance Fees on Licensed Products:
      In the
      event no Milestone Payment has been paid pursuant to Section 3.3.1 on the
      applicable anniversary of the Effective Date of the License Agreement set forth
      below, CBT shall pay to EMORY the license maintenance fee (the “License
      Maintenance Fee”) amount set forth below opposite such anniversary date unless
      CBT has given notice of termination of the Agreement prior to such due date.
      Such License Maintenance Fees shall no longer apply, and this Section shall
      terminate, once a Milestone Payment pursuant to Section 3.3.1 has been
      made.

     

    
      	
              Anniversary

            	 	
              License
                Maintenance Fee

            	 
	
              Fifth

            	 	
              $

            	
              [***]

            	 
	
              Sixth
                

            	 	
              $

            	
              [***]

            	 
	
              Seventh
                and Each Year After

            	 	
              $

            	
              [***]

            	 

    

    

    3.5 Annual
      Minimum Royalties on Licensed Products:

     

    3.5.1 In
      the
      event that the annual Earned Royalties payment for Licensed Products to EMORY
      pursuant to Section 3.1 (excluding Upfront Sublicense Fees) during the second
      calendar year following the date of Regulatory Approval or Authorization for
      a
      Licensed Product, or in any calendar year thereafter, is less than the annual
      minimum royalties set forth opposite such year below (the “Minimum Earned
      Royalties”), CBT shall make a payment to EMORY at the end of such applicable
      calendar year equal to the difference between such Minimum Earned Royalties
      and
      the total Earned Royalties payment to EMORY for all Licensed Products for that
      calendar year, together with the report for the fourth quarter of such calendar
      year:

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    
      	
              Calendar
                Year After Regulatory Approval or Authorization

            	 	
              Minimum
                Earned Royalties

            	 
	
              Second

            	 	
              $

            	
              [***]

            	 
	
              Third

            	 	
              $

            	
              [***]

            	 
	
              Fourth
                and Each Year After

            	 	
              $

            	
              [***]

            	 

    

    

    3.5.2 If
      during
      a given calendar year, the Earned Royalties payment to EMORY pursuant to Section
      3.1 (excluding Initial Sublicense Fees) for all Licensed Products exceeds the
      sum of the applicable Minimum Earned Royalties which are required to be paid
      for
      such year pursuant to Section 3.5.1, CBT shall be deemed to have satisfied
      the
      requirements of Section 3.5.1 for such year.

     

    3.6 Research
      Agreement.
      CBT and
      EMORY agree to enter into and execute a Research Agreement with a term of 2
      year(s), within ninety (90) days of the last date of signing below, regarding
      work by the Inventors, led by Dr. Judith Kapp, in accordance with a mutually
      agreed upon project plan. Such Research Agreement shall be consistent with
      the
      terms of this Agreement, including but not limited to, terms of this Section
      3.6
      and shall be in the form attached to this License Agreement as Appendix “C”.
      Such Research Agreement shall require CBT to commit [***] of direct
      research funds plus [***] percent [***] for EMORY’s benefits and
      overhead in the amount [***] in unrestricted indirect funding to
      EMORY.

     

    The
      Inventors shall provide to CBT written progress reports of all work performed
      pursuant to the Research Agreement and shall regularly discuss such work with
      CBT. Each Party shall solely own all inventions it makes pursuant to the
      Research Agreement and the parties shall jointly own all inventions jointly
      made
      directly as a result of work under the Research Agreement. Such inventions
      of
      EMORY employees shall be Licensed Patents or Licensed Technology, as applicable.
      Both parties shall have confidentiality obligations under the Research Agreement
      that are at least as stringent as those set forth in Article 11 herein. Should
      CBT and EMORY not enter into and execute the Research Agreement within ninety
      (90) days of the last date of signing below due to CBT’s failure to negotiate in
      good faith or enter into a negotiated agreement, the License Agreement shall
      be
      null and void unless CBT and EMORY mutually agree in writing to extend the
      ninety (90) day period. 

     

    3.7 Patent
      Expenses. CBT shall reimburse and pay EMORY within ten (10) days of the
      Effective Date, all actual, out-of-pocket costs, fees and expenses in connection
      with the filing, prosecution and maintenance of Licensed Patents incurred by
      EMORY prior to the Effective Date of this Agreement (the “Past Patent Costs”).
      EMORY warrants that such actual, out-of-pocket costs, fees and expenses are
      [***].

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      4. REPORTS
      AND ACCOUNTING

     

    4.1 Earned
      Royalties Reports and Records.
      During
      the term of this Agreement, CBT shall furnish, or cause to be furnished to
      EMORY, written reports governing each of CBT, its Affiliates and sublicensees
      for each fiscal quarter showing: 

     

    (a) the
      gross
      sales of all Licensed Products Sold by CBT, its Affiliates and sublicensees,
      in
      each country of the Licensed Territory during the reporting period, together
      with the calculations of Net Sales in accordance with Section 1.23;

     

    (b) the
      Earned Royalties payable in Dollars, which shall have accrued hereunder in
      respect to such Net Sales; 

     

    (c) the
      exchange rates, if any, in determining the amount of Dollars; 

     

    (d) a
      summary
      of all reports provided to CBT by CBT's sublicensees; 

     

    (e) the
      amount of any consideration received by CBT from sublicensees and an explanation
      of the contractual obligation satisfied by such consideration; and

     

    (f) the
      occurrence of any event triggering a Milestone Payment obligation in accordance
      with Section 3.3.

     

    Reports
      shall be made semiannually until the first Sale of a Licensed Product and
      quarterly thereafter. Semiannual reports shall be due within thirty (30) days
      of
      the close of every second and fourth CBT fiscal quarter. Quarterly reports
      shall
      be due within thirty (30) days of the close of every CBT fiscal quarter. CBT
      shall keep accurate records in sufficient detail to enable Earned Royalties
      and
      other payments payable hereunder to be determined. CBT shall be responsible
      for
      all Earned Royalties and late payments that are due to EMORY that have not
      been
      paid by CBT's Affiliates and sublicensees. CBT's sublicensees shall have, and
      shall be notified by CBT that they have, the option of making any Earned
      Royalties payment directly to EMORY. 

     

    4.2 Right
      to Audit.
      EMORY
      shall have the right, upon prior notice to CBT, not more than once in each
      CBT
      fiscal year, through an independent public accountant selected by EMORY and
      acceptable to CBT, which acceptance shall not be unreasonably refused, to have
      access during normal business hours of CBT as may be reasonably necessary to
      verify the accuracy of the Earned Royalties reports required to be furnished
      by
      CBT pursuant to Section 4.1 of the Agreement. CBT shall include in any
      sublicenses granted pursuant to this Agreement, a provision requiring the
      sublicensee to keep and maintain records of Sales made pursuant to such
      sublicense and to grant access to such records by EMORY's independent public
      accountant. If such independent public accountant's report shows any
      underpayment of Earned Royalties by CBT, its Affiliates or sublicensees, within
      thirty (30) days after CBT's receipt of such report, CBT shall remit or shall
      cause its sublicensees to remit to EMORY:

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    (a) the
      amount of such underpayment; and

     

    (b) if
      such
      underpayment exceeds [***] percent [***] of the total Earned Royalties
      owed for the fiscal year then being reviewed, the reasonably necessary fees
      and
      expenses of such independent public accountant performing the audit. Otherwise,
      EMORY's accountant's fees and expenses shall be borne solely by EMORY. Any
      overpayment of Earned Royalties shall be fully creditable against future Earned
      Royalties payable in any subsequent royalty period.

     

    4.3 Confidentiality
      of Records.
      All
      information subject to review under this Article 4 shall be confidential. Except
      where disclosure is required by law, EMORY and its accountant shall retain
      all
      such information in confidence.

     

    ARTICLE
      5. PAYMENTS

     

    5.1 Payment
      Due Dates.
      Earned
      Royalties, Upfront Sublicense Fees and Milestone Payments payable to EMORY
      as a
      result of activities occurring during the period covered by each Earned
      Royalties report provided for under Article 4 of this Agreement shall be due
      and
      payable on the date such royalty report is due. Payments of Earned Royalties,
      Upfront Sublicense Fees and Milestone Payments in whole or in part may be made
      in advance of such due date. Any payment in excess of [***] shall be made
      by wire or transferred to an account of EMORY designated in writing by EMORY
      from time to time; provided, however, that in the event that EMORY fails to
      designate such account, CBT, its Affiliates or sublicensees may remit payment
      to
      EMORY to the address applicable for the receipt of notices hereunder; providing,
      further, that any notice by EMORY of such account or change in such account,
      shall not be effective until fifteen (15) days after receipt thereof by
      CBT.

     

    5.2 Currency
      Restrictions.
      Except
      as hereinafter provided in this Section 5.2, all Earned Royalties, Upfront
      Sublicense Fees and Milestone Payments shall be paid in Dollars. If, at any
      time, legal restrictions prevent the prompt remittance of part of or all Earned
      Royalties or Upfront Sublicense Fees with respect to any country in the Licensed
      Territory where Licensed Products are Sold, CBT, its Affiliates or sublicensees
      shall have the right and option to make such payments by depositing the amount
      thereof in local currency to EMORY's account in a bank or depository in such
      country.

     

    5.3 Interest.
      Earned
      Royalties, Upfront Sublicense Fees, Milestone Payments and other payments
      required to be paid by CBT pursuant to this Agreement shall, if overdue, bear
      interest at the lesser of the maximum applicable legal rate of interest on
      overdue commercial accounts or a per annum rate of [***] percent [***]
      until paid. The payment of such interest shall not foreclose EMORY from
      exercising any other rights it may have because any payment is
      overdue.

     

    ARTICLE
      6. DEVELOPMENT
      AND MARKETING PROGRAM

     

    6.1 Diligence
      Obligations for Licensed Products.
      CBT
      shall directly, or in collaboration with Affiliates and sublicensees, use its
      best efforts (as defined below) to:

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    (a) conduct
      a
      research and development program relating to the use of those Licensed Products
      in the Field of Use selected by CBT as it deems appropriate; 

     

    (b) expend
      reasonable amounts towards the research and development of such Licensed
      Products, such amounts to include those described in Section 3.6;

     

    (c) diligently
      pursue Regulatory Approval or Authorization of selected Licensed Products;
      and

     

    (d) commence
      marketing of at least one Licensed Product within six (6) months following
      Regulatory Approval or Authorization thereof.

     

    6.2 Best
      Efforts.
      For
      purposes of this Agreement, “best efforts” shall mean that CBT shall use
      reasonable efforts consistent with those used by comparable biotechnology
      companies in the United States in research and development projects for
      diagnostic methods or kits and therapeutic methods or compositions deemed to
      have commercial value comparable to the Licensed Products.

     

    6.3 Effect
      of Failure.
      If CBT
      fails to use its best efforts pursuant to Section 6.1, EMORY may, upon at least
      sixty (60) days' prior written notice of such failure to CBT, grant Third
      Parties identical or lesser rights in the Licensed Patents and Licensed
      Technology as granted to CBT hereunder for Licensed Products, unless within
      such
      sixty (60) day period, CBT cures such failure. Any disputes as to failure by
      CBT
      to meet its diligence obligations in accordance with this Article 6 shall be
      resolved pursuant to Section 14.1.

     

    6.4 Progress
      Reports.
      CBT
      shall, no less frequently than once every twelve (12) months until a Licensed
      Product has achieved Regulatory Approval or Authorization, provide EMORY with
      a
      written report detailing CBT’s, its Affiliates’s or sublicensees’s activities
      related to developing Licensed Products and pursuing Regulatory Approval or
      Authorization of Licensed Products. Such reports shall also incorporate
      sufficient detail regarding the amount and use of research and development
      funds
      to enable EMORY to verify CBT's compliance with Section 6.1 herein.

     

    6.5 Development
      in the United States and Major Markets.
      No
      later than CBT's filing of an NDA or its equivalent in a Major Market for a
      Licensed Product in the United States or a Major Market, CBT shall directly,
      or
      in collaboration with its Affiliates or sublicensees, use its best
      efforts:

     

    (a) to
      obtain
      Regulatory Approval or Authorization for such Licensed Product in such other
      countries of the Licensed Territory as CBT, CBT’s Affiliates or sublicensees
      deem appropriate; and

     

    (b) upon
      Regulatory Approval or Authorization of such Licensed Product in a particular
      country, proceed with due diligence to market such Licensed Product in such
      country. 

     

    6.6 Development
      of Indications.
      CBT and
      EMORY acknowledge that the compositions and methods claimed in the Licensed
      Patents may be useful for a number of indications. CBT shall, in accordance
      with
      its diligence obligations, attempt to develop the Licensed Patents and Licensed
      Technology for such other indications if scientific evidence provided by EMORY,
      and accepted as significant evidence in the scientific community, supports
      that
      the Licensed Patents and Licensed Technology are useful for such other
      indications.

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    If
      EMORY
      reasonably believes that CBT is not using diligence to attempt to develop an
      indication for which the diligence obligation has accrued under the above
      paragraph, then EMORY may, commencing on the fifth anniversary date of this
      Agreement, request in writing that CBT enter into negotiations with prospective
      sublicensees which EMORY believes are interested in developing such indication
      which CBT, or its Affiliate or sublicensee, is not then developing. Within
      thirty (30) days of receipt of such written request, CBT shall either: (i)
      commence and diligently pursue good faith negotiations with such prospective
      sublicensee, (ii) provide EMORY with a reasonable development plan, including
      milestones, for such indication, or (iii) release any rights granted to CBT
      by
      EMORY under this Agreement as may be required to enable EMORY to license Third
      Parties the rights required to develop such indication.

     

    ARTICLE
      7. PATENT
      PROSECUTION

     

    7.1 Licensed
      Patents Assigned to EMORY.
      

     

    7.1.1 EMORY
      shall be primarily responsible for all patent prosecution activities pertaining
      to Licensed Patents assigned solely to EMORY. EMORY shall provide CBT with
      copies of all filings and correspondence pertaining to such patent prosecution
      activities, in a timely manner, so as to give CBT an opportunity to comment
      thereon. EMORY shall use good faith efforts to accommodate all such comments
      if
      timely received. EMORY shall pursue prosecution of such Licensed Patents in
      at
      least the following countries: United States, EPO countries, Canada, and
      Australia.

     

    7.1.2 For
      all
      out-of-pocket costs after the Effective Date for on-going patent prosecution
      activities on Licensed Patents (the “Future Patent Costs”), EMORY shall submit
      such costs to CBT for approval prior to expenditure. CBT shall reimburse EMORY,
      not later than thirty (30) days after receiving an invoice therefore from EMORY,
      all such approved Future Patent Costs. If CBT fails to promptly reimburse EMORY
      within sixty (60) days after receipt of invoice from EMORY for approved Future
      Patent Costs, EMORY shall provide written notice to CBT of such failure and
      if
      CBT does not pay the undisputed amount of such invoice within thirty (30) days
      after such notice, then the patent application or issued patent associated
      with
      such Future Patent Costs shall not be considered a Licensed Patent and EMORY
      shall be free, at its election, to abandon or maintain the prosecution of such
      patent application or issued patent or grant rights to such patent application
      or issued patent to Third Parties. 

     

    7.2 Licensed
      Patents Jointly Assigned to CBT and EMORY.
      

     

    7.2.1 EMORY
      shall be primarily responsible for all patent prosecution activities pertaining
      to any Licensed Patents arising out of the Research Agreement pursuant to
      Section 3.6 and jointly assigned to EMORY and CBT. EMORY, with the agreement
      of
      CBT, shall select patent counsel to prosecute all such Licensed Patents and
      shall provide CBT with copies of all filings and correspondence pertaining
      to
      such patent prosecution activities, in a timely manner, so as to give CBT an
      opportunity to comment thereon. EMORY shall advise such patent counsel in
      writing that for purposes of such patent activities, such counsel represents
      both EMORY and CBT. EMORY shall pursue prosecution of such Licensed Patents
      in
      at least the following countries: [***].

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

     

    7.2.2 For
      all
      out-of-pocket costs for on-going patent prosecution activities pertaining to
      any
      Licensed Patents arising out of the Research Agreement pursuant to Section
      3.6
      and jointly assigned to EMORY and CBT, EMORY shall submit such costs to CBT
      for
      approval prior to expenditure. CBT shall reimburse EMORY, not later than thirty
      (30) days after receiving an invoice therefor from EMORY, all such approved
      patent costs. If CBT fails to promptly reimburse EMORY within sixty (60) days
      after receipt of invoice from EMORY for approved patent costs, EMORY shall
      provide written notice to CBT of such failure and if CBT does not pay the
      undisputed amount of such invoice within thirty (30) days after such notice,
      then CBT shall, upon EMORY's request, assign its interests in such patent
      application or issued patent to EMORY. After such assignment, such patent
      application or issued patent shall no longer be considered a Licensed Patent
      and
      EMORY shall be free, at its election, to abandon or maintain the prosecution
      of
      such patent application or issued patent or grant rights to such patent
      application or issued patent to Third Parties. 

     

    ARTICLE
      8. INFRINGEMENT

     

    8.1 Enforcement
      by CBT.
      If
      either CBT or EMORY becomes aware of a product made, used or sold in the
      Licensed Territory, which it believes infringes a Valid Claim, the Party
      obtaining such knowledge shall promptly advise the other Party of all relevant
      facts and circumstances pertaining to the potential infringement. CBT shall
      have
      the first right to enforce any patent rights against such infringement, at
      its
      own expense. EMORY shall cooperate with CBT in such effort, at CBT's expense,
      including being joined as a Party to such action, if necessary. Any damages
      or
      costs recovered in connection with any action filed by CBT hereunder which
      exceed CBT's out-of-pocket costs and expenses of litigation, shall be deemed
      to
      be Net Sales from Sales of Licensed Products in the fiscal quarter in which
      received by CBT, and Earned Royalties shall be payable by CBT to EMORY thereon
      in accordance with the terms of this Agreement.

     

    8.2 Backup
      Enforcement Right by EMORY.
      If CBT
      fails, within one hundred twenty (120) days after receiving notice from EMORY
      of
      a potential infringement, or providing EMORY with notice of such infringement,
      to either (a) terminate such infringement or (b) institute an action to prevent
      continuation thereof and, thereafter to prosecute such action diligently, or
      if
      CBT notifies EMORY that it does not plan to terminate the infringement or
      institute such action, then EMORY shall have the right to do so at its own
      expense; provided however, that EMORY first consults with CBT and gives due
      consideration to CBT’s reasons for not instituting actions to terminate or
      otherwise prevent continuation of such infringement. If EMORY decides to pursue
      such infringement, CBT shall cooperate with EMORY in such effort including
      being
      joined as a Party to such action if necessary. EMORY shall be entitled to retain
      all damages or costs awarded to EMORY in such action.

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      9. EXCLUSION
      OF WARRANTIES 

     

    CBT
      possesses the necessary expertise and skill in the technical areas pertaining
      to
      the Licensed Patents, Licensed Products and Licensed Technology to make, and
      has
      made, its own evaluation of the capabilities, safety, utility and commercial
      application of the Licensed Patents, Licensed Products and Licensed Technology.
      ACCORDINGLY, EMORY DOES NOT MAKE ANY REPRESENTATION OR WARRANTY OF ANY KIND
      WITH
      RESPECT TO THE LICENSED PATENTS, LICENSED TECHNOLOGY OR LICENSED PRODUCTS AND
      EXPRESSLY DISCLAIMS ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A
      PARTICULAR PURPOSE AND ANY OTHER IMPLIED WARRANTIES WITH RESPECT TO THE
      CAPABILITIES, SAFETY, UTILITY, OR COMMERCIAL APPLICATION OF THE LICENSED
      PATENTS, LICENSED TECHNOLOGY OR LICENSED PRODUCTS.

     

    ARTICLE
      10. INDEMNIFICATION
      AND RELEASE FROM LIABILITY

     

    10.1 No
      Liability.
      Neither
      Party shall be liable to the other Party, its Affiliates, customers or
      sublicensees for compensatory, special, incidental, indirect, consequential
      or
      exemplary damages resulting from the manufacture, testing, design, labeling,
      use
      or sale of Licensed Products.

     

    10.2 Indemnification.

     

    10.2.1 CBT
      shall
      defend, indemnify, and hold harmless the Indemnitees, from and against any
      and
      all Third Party claims, demands, losses, liabilities, expenses, or damages
      (including investigative costs, court costs and attorneys' fees) (collectively
      “Losses”) arising or alleged to arise by reason of, or in connection with, any
      and all personal injury (including death) and property damage caused or
      contributed to, in whole or in part, by the manufacture, testing, design, use,
      Sale, or labeling of any Licensed Products by CBT, its Affiliates, contractors,
      agents, or sublicensees, except to the extent of any Losses that arise from
      the
      negligence or intentional misconduct of Indemnitees. CBT’s obligations under
      this Article 10 shall survive the expiration or termination of this Agreement
      for any reason.

     

    10.2.2 To
      be
      eligible to be indemnified hereunder, the Indemnitees shall provide CBT with
      prompt notice of the claim giving rise to the indemnification obligation
      pursuant to this Article 10 and the exclusive ability to defend (with the
      reasonable cooperation of the Indemnitees) or settle any such claim;
provided
      however,
      that
      CBT shall not enter into any settlement for damages other than monetary damages
      without the Indemnitees’s written consent, such consent not to be unreasonably
      withheld or delayed. The Indemnitees shall have the right to participate, at
      their own expense and with counsel of their choice, in the defense of any claim
      or suit that has been assumed by CBT.

     

    10.3 Insurance.
      Without
      limiting CBT's indemnity obligations under the preceding paragraph, CBT shall,
      prior to any clinical trial or Sale of any Licensed Product, cause to be in
      force, an “occurrence based type” liability insurance policy which:

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

     

    (a) insures
      Indemnitees for all claims, damages, and actions mentioned in Section 10.2.1
      of
      this Agreement; 

     

    (b) includes
      a contractual endorsement providing coverage for all liability which may be
      incurred by Indemnitees in connection with this Agreement for which CBT has
      an
      indemnification obligation under Section 10.2; and 

     

    (c) requires
      the insurance carrier to provide EMORY with no less than thirty (30) days'
      written notice of any change in the terms or coverage of the policy or its
      cancellation; and

     

    (d) provides
      Indemnitees product liability coverage in an amount no less than [***] per
      occurrence for bodily injury and [***] per occurrence for property damage,
      subject to a reasonable aggregate amount. 

     

    10.4 Occurrence
      Based Coverage Not Available.
      If CBT
      is unable to obtain “occurrence based type” liability insurance, CBT shall
      procure “claims made type” liability coverage to be effective prior to any
      clinical trial or Sale of any Licensed Patent, and throughout the term of this
      Agreement and “tail coverage”, extending at least ten (10) years after
      termination of this Agreement. CBT shall notify EMORY prior to its first
      clinical trial or First Commercial Sale of any Licensed Product, of all
      insurance coverage available to CBT to meet CBT's obligations under Sections
      10.2 and 10.3 of this Agreement and other assets available to CBT which may
      be
      used by CBT should the insurance coverage available to CBT not be sufficient
      to
      meet CBT’ obligations under Sections 10.2 and 10.3. 

     

    10.5 Notice
      of Claims.
      CBT
      shall promptly notify EMORY of all claims involving the Indemnitees and shall
      advise EMORY of the policy amounts that might be needed to defend and pay any
      such claims. 

     

    ARTICLE
      11. CONFIDENTIALITY

     

    11.1 Treatment
      of Confidential Information.
      Except
      as otherwise provided hereunder, during the term of this Agreement and for
      a
      period of five (5) years thereafter:

     

    (a) CBT,
      its
      Affiliates and sublicensees shall retain in confidence and use only for purposes
      of this Agreement, any written information and data supplied by EMORY to CBT
      under this Agreement and marked as proprietary or confidential; and

     

    (b) EMORY
      shall retain in confidence and use only for purposes of this Agreement, any
      written information and data supplied by CBT or on behalf of CBT to EMORY under
      this Agreement and marked as proprietary or confidential.

     

    For
      purposes of this Agreement, all such information and data which a Party is
      obligated to retain in confidence shall be called "Information."

     

    11.2 Right
      to Disclose.
      To the
      extent that it is reasonably necessary to fulfill its obligations or exercise
      its rights under this Agreement, or any rights which survive termination or
      expiration hereof, each Party may disclose Information to its Affiliates,
      sublicensees, consultants, outside contractors, governmental regulatory
      authorities and clinical investigators on condition that such entities or
      persons agree:

     

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

     

    (a) to
      keep
      the Information confidential for at least the same time periods and to the
      same
      extent as each Party is required to keep the Information
      confidential;

     

    (b) to
      use
      the Information only for such purposes as such Parties are authorized to use
      the
      Information.

     

    Each
      Party, its Affiliates or sublicensees may disclose Information to the government
      or other regulatory authorities to the extent that such disclosure is necessary
      for the prosecution and enforcement of patents, authorizations to conduct
      clinical trials or commercialization of Licensed Products, provided that such
      Party is otherwise entitled to engage in such activities under this
      Agreement.

     

    11.3 Release
      from Restrictions.
      The
      obligation under Section 11.1 not to use or disclose Information shall not
      apply
      to any part of such Information that:

     

    (a) is
      or
      becomes patented, published or otherwise part of the public domain, other than
      by unauthorized acts of the Party obligated not to disclose such Information;
      (for purposes of this Article 11 the “Receiving Party”), its Affiliates or
      sublicensees in contravention of this Agreement;

     

    (b) is
      disclosed to the Receiving Party, its Affiliates or sublicensees by a Third
      Party provided that such Information was not obtained by such Third Party
      directly or indirectly from the other Party under this Agreement; 

     

    (c) prior
      to
      disclosure under this Agreement, was already in the possession of the Receiving
      Party, its Affiliates or sublicensees, provided that such Information was not
      obtained directly or indirectly from the other Party under this Agreement;
      

     

    (d) results
      from the research and development by the Receiving Party, its Affiliates or
      sublicensees, independent of disclosures from the other Party of this Agreement,
      provided that the persons developing such information have not had exposure
      to
      the Information received from the disclosing Party; 

     

    (e) is
      required by law to be disclosed by the Receiving Party, provided that the
      Receiving Party uses its best efforts to notify the other Party immediately
      upon
      learning of such requirement in order to give the other Party reasonable
      opportunity to oppose such requirement; or

     

    (f) CBT
      and
      EMORY agree in writing may be disclosed.

     

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      12. TERM
      AND TERMINATION

     

    12.1 Term.
      Unless
      sooner terminated as otherwise provided in this Agreement, the term of this
      Agreement shall commence on the Effective Date hereof and shall continue in
      full
      force and effect until the expiration of the last to expire Valid Claim. If
      no
      Valid Claim should issue within ten (10) years of the Effective Date of this
      Agreement, this Agreement shall terminate on the tenth (10th) anniversary of
      the
      Effective Date. After termination hereunder, CBT shall retain the non-exclusive,
      worldwide, perpetual right and license under the Licensed Technology to make,
      have made, use, offer for sale, import and sell Licensed Products, with full
      rights to sublicense.

     

    12.2 Termination
      by EMORY.
      EMORY
      shall have the right to terminate this Agreement pursuant to the provisions
      below, provided that EMORY has given CBT the notice required in accordance
      with
      Section 12.3 and CBT has failed to cure the breach described in such notice:
      

     

    (a) breach
      by
      CBT of a material term of the Agreement;

     

    (b) the
      institution of any proceeding by CBT under any bankruptcy, insolvency, or
      moratorium law; 

     

    (c) any
      assignment by CBT of substantially all of its assets for the benefit of
      creditors; 

     

    (d) placement
      of CBT's assets in the hands of a trustee or a receiver unless the receivership
      or trust is dissolved within thirty (30) days thereafter and provided that
      in
      the case of in involuntary bankruptcy proceeding, which is contested by CBT,
      such termination shall not become effective until the bankruptcy court of
      jurisdiction has entered an order upholding the petition; or

     

    (e) a
      decision by CBT or CBT's licensee or assignee of rights under this Agreement
      to
      quit the business of developing or selling Licensed Products;

     

    (f) breach
      or
      default by CBT of any material term of the Research Agreement, provided that
      EMORY has given CBT the notice required in accordance with Section 12.2 of
      the
      Research Agreement and CBT has failed to cure that breach, and as a result,
      EMORY terminates the Research Agreement.

     

    12.3 Exercise.
      EMORY
      may exercise its right of termination pursuant to Section 12.2 by giving CBT
      sixty (60) days' prior written notice (the “Written Notice”) of EMORY's election
      to terminate. Such notice shall include the basis for such termination. Upon
      the
      expiration of such period, EMORY shall provide written notice of termination
      to
      CBT, effective upon receipt, unless CBT has cured the material breach or the
      other basis for such proposed termination. Such notice and termination shall
      not
      prejudice EMORY's right to receive Earned Royalties accrued prior to
      termination, or other sums due hereunder and shall not prejudice any cause
      of
      action or claim of EMORY accrued or to accrue on account of any breach or
      default by CBT.

     

    
      
        
        

      

      
        19

        
          

        

      

      
        
        

      

    

     

    12.4 Termination
      by CBT.
      CBT
      shall have the right to terminate this Agreement pursuant to the provisions
      below, provided that CBT has given EMORY the notice required in accordance
      with
      Section 12.5:

     

    (a) CBT
      may
      terminate this Agreement upon breach by EMORY of a material term of the
      Agreement; or

     

    (b) CBT
      may
      terminate this Agreement upon CBT's convenience and written notice of such
      termination given to EMORY at least ninety (90) days prior to the date of such
      termination.

     

    12.5 Exercise.
      CBT may
      exercise its right of termination pursuant to Section 12.4(a), by giving EMORY
      sixty (60) days' prior written notice of CBT's election to terminate and by
      providing in its termination notice the basis for such termination. Upon the
      expiration of the sixty (60) day period, CBT shall provide written notice of
      termination to EMORY, effective upon receipt, unless EMORY has cured the breach.
      Such notice of termination shall not prejudice any cause of action or claim
      of
      CBT accrued or to accrue on account of any breach or default by EMORY.

     

    12.6 Effect
      for Certain Terminations.
      If this
      Agreement is terminated as a result of CBT's uncured material breach pursuant
      to
      Section 12.2(a), or otherwise pursuant to the other provisions of Section 12.2,
      then CBT shall return to EMORY, or at EMORY's direction, destroy all data,
      writings and other documents and tangible materials supplied to CBT by EMORY.
      

     

    12.7 Further
      Rights to Emory.
      If this
      Agreement is terminated pursuant to Section 12.2 or 12.4(b), CBT shall further,
      upon EMORY's request and with no need for additional consideration, grant to
      EMORY an exclusive, worldwide, fully paid, perpetual license, with full rights
      to sublicense, under all of CBT's rights in any Licensed Patents to practice
      Licensed Patents. Further, at EMORY’s request, CBT agrees to negotiate in good
      faith for an agreement, which shall be on commercially reasonable terms, under
      which CBT would provide to EMORY and grant the rights to use full and complete
      copies of all toxicity, efficacy, and other data generated by CBT or CBT's
      Affiliates, (including by contractors or agents on their behalf) in the course
      of CBT's efforts to develop Licensed Products or obtain governmental approval
      for the Sale of Licensed Products, for use in connection with the development
      and commercialization of Licensed Products. Under the terms of such agreement
      (if entered into): (i) EMORY would be authorized to provide such data pertaining
      to the Licensed Patents and Licensed Technology to any Third Party with a bona
      fide interest in licensing such technology, (ii) such data would be provided
      on
      a confidential basis, provided, however, that if such Third Party concludes
      a
      license with EMORY, such Third Party would be free to use such data for all
      purposes, including to obtain government approvals to sell products.

     

    12.8 Failure
      to Enforce.
      The
      failure of either Party, at any time, or for any period of time, to enforce
      any
      of the provisions of this Agreement, shall not be construed as a waiver of
      such
      provisions or as a waiver of the right of either Party’s thereafter to enforce
      each and every such provision of this Agreement.

     

    
      
        
        

      

      
        20

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      13. ASSIGNMENT

     

    CBT
      may
      grant, transfer, convey, or otherwise assign any or all of its rights and
      obligations under this Agreement in conjunction with a merger, acquisition
      or
      the transfer of all, or substantially all, of the business interests of CBT
      to
      which this Agreement relates. EMORY's written consent, which shall not be
      unreasonably withheld, shall be required prior to any other assignment of CBT's
      rights or obligations under this Agreement. 

     

    ARTICLE
      14. MISCELLANEOUS

     

    14.1 Dispute
      Resolution.
      EMORY
      and CBT shall initially attempt in good faith to resolve any significant
      controversy, claim, or dispute arising out of or relating to this Agreement
      or
      significant breach thereof (hereinafter referred to as a “Dispute”) through at
      least one face-to-face negotiation between senior executives of the rank of
      at
      least Senior Vice President, or in the case of EMORY and/or CBT, an officer
      of
      EMORY and/or CBT of equivalent rank and with power to bind each of EMORY and/or
      CBT, at the place of business of the Party of whom the meeting is first
      requested, or in the case of a meeting requested by EMORY and CBT, at EMORY.
      If
      the Dispute is not resolved within thirty (30) business days (or such other
      period of time mutually agreed upon by the parties) of commencing such
      face-to-face negotiations, or if the Party against which a claim has been
      asserted refuses to attend such negotiations or does not otherwise participate
      in such negotiations within thirty (30) business days (or such other period
      of
      time mutually agreed upon by the Parties) from the date of notice of a Dispute,
      then the Parties agree to submit the Dispute to arbitration conducted under
      the
      auspices of the American Arbitration Association pursuant to that organization’s
      rules for commercial arbitration. Any hearings shall be held in Atlanta,
      Georgia. 

     

    14.2 Export
      Controls.
      CBT
      acknowledges that EMORY is subject to United States laws and regulations
      controlling the export of technical data, biological materials, chemical
      compositions and other commodities and that EMORY's obligations under this
      Agreement are contingent upon compliance with applicable United States export
      laws and regulations. The transfer of technical data, biological materials,
      chemical compositions and commodities may require a license from the cognizant
      agency of the United States government or written assurances by CBT that CBT
      shall not export data or commodities to certain foreign countries without the
      prior approval of certain United States agencies. EMORY neither represents
      that
      an export license shall not be required nor that, if required, such export
      license shall issue.

     

    14.3 Legal
      Compliance.
      CBT
      shall comply with all laws and regulations relating to its manufacture, use,
      Sale, labeling or distribution of Licensed Products and shall not take any
      action which would cause EMORY or CBT to violate any applicable laws or
      regulations.

     

    14.4 Independent
      Contractor.
      CBT's
      relationship to EMORY shall be that of a licensee only. CBT shall not be the
      agent of EMORY and shall have no authority to act for, or on behalf of, EMORY
      in
      any matter. Persons retained by CBT as employees or agents shall not, by reason
      thereof, be deemed to be employees or agents of EMORY.

     

    14.5 Patent
      Marking.
      CBT
      shall mark Licensed Products Sold in the United States with the relevant United
      States patent numbers. Licensed Products manufactured or Sold in other countries
      shall be marked in compliance with the intellectual property laws in force
      in
      such foreign countries.

     

    
      
        
        

      

      
        21

        
          

        

      

      
        
        

      

    

     

    14.6 Use
      of
      Names.
      CBT
      shall obtain the prior written approval of EMORY prior to making use of the
      name
      of any EMORY employee or the name EMORY for any commercial purpose, except as
      required to comply with law, regulation or court order.

     

    14.7 Place
      of Execution.
      This
      Agreement and any subsequent modifications or amendments hereto shall be deemed
      to have been executed in the State of Georgia, U.S.A. This Agreement shall
      not
      become effective or binding upon EMORY until signed by its Assistant Vice
      President and Director, Office of Technology Transfer in the State of Georgia,
      U.S.A. 

     

    14.8 Governing
      Law.
      This
      Agreement and all amendments, modifications, alterations, or supplements hereto,
      and the rights of the parties hereunder, shall be construed under and governed
      by the laws of the State of Georgia and the United States of America.

     

    14.9 Entire
      Agreement.
      This
      Agreement and the Appendices attached hereto and incorporated herein constitutes
      the entire agreement between EMORY and CBT with respect to the subject matter
      hereof and shall not be modified, amended or terminated, except as herein
      provided or except by another agreement in writing executed by the parties
      hereto.

     

    14.10 Survival.
      Articles 10 and 11 shall survive termination of this Agreement for any reason.
      Sections 12.6 and 12.7 shall survive termination pursuant to Section 12.2 or
      Section 12.4(b), as applicable. 

     

    14.11 Severability.
      All
      rights and restrictions contained herein may be exercised and shall be
      applicable and binding only to the extent that they do not violate any
      applicable laws and are intended to be limited to the extent necessary so that
      they will not render this Agreement illegal, invalid or unenforceable. If any
      provision or portion of any provision of this Agreement, not essential to the
      commercial purpose of this Agreement, shall be held to be illegal, invalid
      or
      unenforceable by a court of competent jurisdiction, it is the intention of
      the
      parties that the remaining provisions or portions thereof shall constitute
      their
      agreement with respect to the subject matter hereof, and all such remaining
      provisions, or portions thereof, shall remain in full force and effect. To
      the
      extent legally permissible, any illegal, invalid or unenforceable provision
      of
      this Agreement shall be replaced by a valid provision which shall implement
      the
      commercial purpose of the illegal, invalid, or unenforceable provision. In
      the
      event that any provision essential to the commercial purpose of this Agreement
      is held to be illegal, invalid or unenforceable and cannot be replaced by a
      valid provision which will implement the commercial purpose of this Agreement,
      the Party who is the beneficiary of such illegal, invalid or unenforceable
      provision has the right to terminate this Agreement upon written notice,
      effective upon receipt, to the other Party.

     

    14.12 Force
      Majeure.
      Any
      delays in, or failure of performance of any Party to this Agreement, shall
      not
      constitute a default hereunder, or give rise to any claim for damages, if and
      to
      the extent caused by occurrences beyond the control of the Party affected,
      including, but not limited to, acts of God, strikes or other concerted acts
      of
      workmen, civil disturbances, fires, floods, explosions, riots, war, rebellion,
      sabotage, acts of governmental authority or failure of governmental authority
      to
      issue licenses or approvals which may be required.

     

    
      
        
        

      

      
        22

        
          

        

      

      
        
        

      

    

     

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

     

    ARTICLE
      15. NOTICES

     

    All
      notices, statements, and reports required to be given by one Party to the other
      shall be in writing and shall be deemed to have been given upon delivery in
      person or upon the expiration of five (5) days after deposit in a lawful mail
      depository in the country of residence of the Party giving the notice,
      registered or certified postage prepaid, and addressed as follows:

     

    To
      EMORY:

    Office
      of
      Technology Transfer

    Attn:
      Director

    Emory
      University

    North
      Decatur Bldg., Suite 130

    1784
      N.
      Decatur Road

    Atlanta,
      Georgia 30322

     

    To
      CBT:

    Attn:
      Chief Executive Officer

    Cougar
      Biotechnology, Inc.

    10940
      Wilshire Blvd.

    Suite
      600

    Los
      Angeles, California 90024

     

     

    Either
      Party hereto may change the address to which notices to such Party are to be
      sent by giving notice to the other Party at the address and in the manner
      provided above. Any notice may be given, in addition to the manner set forth
      above, by telex, facsimile or cable, provided that the Party giving such notice
      obtains acknowledgement by telex, facsimile or cable that such notice has been
      received by the Party to be notified. Notice made in this manner shall be deemed
      to have been given when such acknowledgement has been transmitted. 

     

    

    [Signature
      page follows]

     

    
      
        
        

      

      
        23

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF,
      EMORY
      and CBT have caused this Agreement to be signed, under seal, by their duly
      authorized representatives, as of the day and year indicated below.

     

    
      
        	
                EMORY
                  UNIVERSITY:

              	
                COUGAR
                  BIOTECHNOLOGY, INC.

              
	 	 
	 	 
	
                By: 
                  /s/ Todd T. Sherer

              	
                By:
                   /s/ Alan H. Auerbach

              
	
                Name:
                  Todd T. Sherer, Ph.D.

              	
                Name:
                  Alan H. Auerbach

              
	
                Title: 
                  Asistant Vice President and Director Office
                  of Technology Transfer

              	
                Title:
                  Chief Executive Officer

              
	
              	 
	
                Date: 
                  2-25-2004

              	
                Date: 
                  3-9-2004

              

      

     

    
      
        
        

      

      
        24

        
          

        

      

      
        
        

      

    

     

    APPENDIX
      “A”

     

    LICENSED
      PATENTS

     

    

    Licensed
      Patents shall include, but not be limited to, the following issued patents
      and
      pending patent applications:

     

    
      	1.	
              United
                States Patent No.: 6,376,516, titled: “Noscapine Derivatives, Useful as
                Anticancer gents”;

            

    

    
      	
              2.

            	
              International
                Patent Application No.: PCT/US98/14979, titled: “Noscapine Derivatives,
                Useful as Anticancer Agents”;

            

    

    
      	
              3.

            	
              United
                States Patent Application No.: 09/558,042, titled: “Noscapine Derivatives
                as Adjuvant Compositions and Methods of Use
                Thereof”;

            

    

    
      	
              4:

            	
              United
                States Patent Application No.: 10/288,442, titled: “Noscapine Derivatives
                as Adjuvant Compositions and Methods of Use
                Thereof”;

            

    

    
      	
              5.

            	
              International
                Patent Application No.: PCT/US00/11082, titled: “Noscapine Derivatives as
                Adjuvant Compositions and Methods of Use
                Thereof”;

            

    

    
      	
              6.

            	
              Canadian
                Patent Application No.: 2,370,643, titled: “Noscapine Derivatives as
                Adjuvant Compositions and Methods of Use
                Thereof”;

            

    

    
      	
              7.

            	
              European
                Patent Application No.: 00928370.6, titled: “Noscapine Derivatives as
                Adjuvant Compositions and Methods of Use Thereof”;
                and

            

    

    
      	
              8.

            	
              United
                States Patent No.: 6,673,814, titled: “Delivery Systems and Methods for
                Noscopine and Noscapine Derivatives, Useful as Anticancer
                Agents”.Portions
      herein identified by [***] have been omitted pursuant to a request for
      confidential treatment and have been filed separately with the

    Commission
      pursuant to Rule 406 of the Securities Act of 1933, as amended.

    
 

    Exhibit
      10.9

     

    FIRST
      AMENDMENT TO LICENSE AGREEMENT

     

    THIS
      FIRST AMENDMENT TO LICENSE AGREEMENT (hereinafter referred to as "FIRST
      Amendment") is made and entered into this 2nd day of June, 2004 (hereinafter
      the
      "Effective Date") by and between:

     

    Emory
      University,
      a
      non-profit Georgia corporation with offices located at Office of Technology
      Transfer, North Decatur Bldg., Suite 130, 1784 N. Decatur Road, Atlanta, Georgia
      30322 (hereinafter referred to as "EMORY");

     

    AND

     

    Cougar
      Biotechnology, Inc., a
      for-profit Delaware corporation with offices at
      10940
      Wilshire Blvd., Suite 600, Los Angeles, California 90024 USA (hereinafter
      referred to as "CBT").

     

    RECITALS:

     

    WHEREAS,
      EMORY
      and CBT entered into a License Agreement, dated the 23rd
      day of
      February, 2004, for inventions which are owned by EMORY (hereinafter referred
      to
      as "License Agreement") and incorporated herein by reference; and

     

    WHEREAS,
      the
      parties have agreed to modify the terms of the License Agreement;

     

    NOW,
      THEREFORE,
      in
      consideration of the premises and mutual covenants contained herein, and
      intending to be legally bound hereby, the parties hereto agree to the statements
      and representations made above and do hereby mutually agree to amend the License
      Agreement as follows:

     

    1. The
      second (2nd)
      WHEREAS
      under
WITNESSETH,
      which
      reads as:

     

    WHEREAS,
      Drs. Harish Joshi, Judith Kapp, Yong Ke, Fuqiang Liu, David Archer, Cheryl
      Armstrong, Jaren Landen and Keqiang Ye are employees of EMORY and are named
      as
      inventors on Emory invention disclosures: (i) no. 97012, titled: "The Antitissue
      Drug Noscapine is a Tubulin Binding Anti-Tumor Drug",
      (ii) no. 98056, titled: "Use of the Anti-Cancer Agent, Noscapine, as an
      Immunological Adjuvant for Tumor Therapy", (iii) no. 01028, titled: "Noscapine
      and Noscapine Derivatives, Useful as Anticancer Agents", and (iv) no. 02040,
      titled: "Delivery Systems and Methods for Nocapine and Noscapine Derivatives,
      Useful as Anticancer Agents", which are the subject of those issued patents
      and
      pending patent applications listed in Appendix "A" herein (hereinafter
      "Inventions");

     

    is
      hereby
      amended and shall read as:

     

    WHEREAS,
      Drs.
      Harish Joshi, Judith Kapp, Yong Ke, Fuqiang Liu, David Archer, Cheryl Armstrong,
      Jaren Landen and Keqiang Ye are employees of EMORY and are named

    as
      inventors on Emory invention disclosures: (i) no. 97012, titled: "The Antitissue
      Drug Noscapine is a Tubulin Binding Anti-Tumor Drug"; (ii) no. 98056, titled:
      "Use of the Anticancer Agent, Noscapine, as an Immunological Adjuvant for Tumor
      Therapy"; (iii) no. 01028, titled: "Noscapine and Noscapine Derivatives, Useful
      as Anticancer Agents"; (iv) no.
      02040,
      titled: "Delivery Systems and Methods for Nocapine and Noscapine Derivatives,
      Useful as Anticancer Agents"; and (v) no. 04053, titled: "Novel Alkaloids for
      Cancer Therapy", which are the subject of those issued patents and pending
      patent applications listed in Appendix "A" herein (hereinafter
      "Inventions");

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    2. Appendix A,
      which
      reads as:

     

    LICENSED
      PATENTS

     

    Licensed
      Patents shall include, but not be limited to, the following issued patents
      and
      pending patent applications:

     

    
      	 	
              1.

            	
              United
                States Patent No.: 6,376,516, titled: "Noscapine
                Derivatives, Useful as Anticancer Agents";

            
	 	2.	
              International
                Patent Application No.: PCT/US98/14979, titled: "Noscapine Derivatives,
                Useful as Anticancer Agents";

            
	 	3.	
              United
                States Patent Application No.: 09/558,042, titled: "Noscapine Derivatives
                 as
                Adjuvant Compositions and Methods of Use Thereof';

            
	 	4.	United States Patent Application No.:
              10/288,442, titled: “Noscapine Derivatives  as
              Adjuvant Compositions and Methods of Use Thereof”;
	 	
              5. 

            	International Patent Application No.:
              PCT/US00/11082, titled: "Noscapine  Derivatives
              as Adjuvant Compositions and Methods of Use Thereof';
	 	6. 	Canadian Patent Application No.: 2,370,643,
              titled: “Noscapine Derivatives as  Adjuvant
              Compositions and Methods of Use Thereof';
	 	7.	European Patent Application No.: 00928370.6,
              titled: “Noscapine Derivatives as Adjuvant
              Compositions and Methods of Use Thereof'; and
	 	8.	United States Patent No.: 6,673,814,
              titled:
              "Delivery Systems and Methods for Noscapine and Noscapine Derivatives,
              Useful as Anticancer Agents".

    

         

    is
      hereby
      amended and shall read as:

     

    LICENSED
      PATENTS

     

    Licensed
      Patents shall include, but not be limited to, the following issued patents
      and
      pending patent applications:

     

    A. Licensed
      Patents Group I.

     

    
      
        	 	
                1.

              	
                United
                  States Patent No.: 6,376,516, titled: "Noscapine Derivatives, Useful
                  as
                  Anticancer Agents";

              
	 	2.	
                International
                  Patent Application No.: PCT/US98/14979, titled: "Noscapine Derivatives,
                  Useful as Anticancer Agents";

              
	 	3.	
                United
                  States Patent Application No.: 09/558,042, titled: "Noscapine Derivatives
                  as Adjuvant Compositions and Methods of Use Thereof';

              
	 	4.	
                United
                  States Patent Application No.: 10/288,442, titled: "Noscapine Derivatives
                  as Adjuvant Compositions and Methods of Use
                  Thereof';

              

      

       

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
       

      
        	 	
                5. 

              	
                International
                  Patent Application No.: PCT/US00/11082, titled: "Noscapine Derivatives
                  as
                  Adjuvant Compositions and Methods of Use Thereof';

              
	 	6. 	
                Canadian
                  Patent Application No.: 2,370,643, titled: "Noscapine Derivatives
                  as
                  Adjuvant Compositions and Methods of Use Thereof';

              
	 	7.	
                European
                  Patent Application No.: 00928370.6, titled: "Noscapine Derivatives
                  as
                  Adjuvant Compositions and Methods of Use Thereof'; and

              
	 	8.	
                United
                  States Patent No.: 6,673,814, titled: "Delivery Systems and Methods
                  for
                  Noscapine and Noscapine Derivatives, Useful as Anticancer Agents";
                  and

              

      

       

    

    B. Licensed
      Patents Group II.

     

    1.
      United
      States Patent Application No.: 60/557,266, titled: "Novel Alkaloids for Cancer
      Therapy".

     

    3. Paragraph
      3.3.1, which reads as:

     

    3.3.1 CBT,
      its
      Affiliates or its sublicensee shall pay EMORY a milestone payment (the
      "Milestone Payment") in the amount specified below no later than thirty (30)
      days after the occurrence of the corresponding event designated below for the
      First Licensed Product:

    

      
        	
                 Event

              	
                Milestone
                  Payment

              
	 	 	 
	
                (i)
                  

              	
                The
                  date of commencement of the first Phase I trial by CBT,
                  its Affiliates, or sublicensees for the First Licensed
                  Product

              	
                $[***]

              
	 	
                 

              	 
	
                (ii)

              	
                The
                  date of commencement of the first Phase III Clinical Trial
                  for the First Licensed Product

              	
                $[***]

              
	 	
                 

              	 
	
                (iii)

              	
                The
                  date of Regulatory Approval or Authorization of the First
                  Licensed Product.

              	
                $[***]
                  

              
	 	
                 

              	 
	
                (iv)

              	
                The
                  date of Regulatory Approval or Authorization of the First Licensed
                  Product
                  or Consecutive Licensed Product in
                  an additional new
                  indication (limit 3 )

              	
                $[***]
                  for each new approval
                  (limit 3)

              

      

    Should
      the First Licensed Product be abandoned by CBT, its Affiliate or sublicensee
      for
      any reason following the filing of an IND or its equivalent in a Major Market
      and prior to the First Commercial Sale and should another Licensed Product
      commence Phase III Clinical Trials, then such Licensed Product shall become
      the
      replacement First Licensed Product and CBT, its Affiliate or sublicensee shall
      resume the Milestone Payments, starting at the event subsequent to the event
      for
      which a Milestone Payment had already been paid. No Milestone Payment shall
      be
      paid more than once for the First Licensed Product.

     

    is
      hereby
      amended and shall read as:

     

    3.3.1 CBT,
      its
      Affiliates or its sublicensee shall pay EMORY
      a
      milestone payment (the "Milestone Payment") in the amount specified below no
      later than thirty (30) days after the occurrence of the corresponding event
      designated below for the First Licensed Product from 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Licensed
      Patents Group I and for the First Licensed Product from Licensed Patents Group
      II of Appendix A.

    

      
        	
                 Event

              	
                Milestone
                  Payment

              
	 	 	 
	
                (i)
                  

              	
                The
                  date of commencement of the first Phase I trial by CBT,
                  its Affiliates, or sublicensees for the First Licensed
                  Product

              	
                $[***]
                  

              
	 	
                 

              	 
	
                (ii)

              	
                The
                  date of commencement of the first Phase III Clinical Trial
                  for the First Licensed Product

              	
                $[***]
                  

              
	 	
                 

              	 
	
                (iii)

              	
                The
                  date of Regulatory Approval or Authorization of the First
                  Licensed Product.

              	
                $[***]

              
	 	
                 

              	 
	
                (iv)

              	
                The
                  date of Regulatory Approval or Authorization of the First Licensed
                  Product
                  or Consecutive Licensed Product in
                  an additional new
                  indication (limit 3 )

              	
                $[***]
                  for each new approval
                  (limit 3)

              

      

Should
      the First Licensed Product of Licensed Patent Group I or of Licensed Patents
      Group II be abandoned by CBT, its Affiliate or sublicensee for any reason
      following the filing of an IND or its equivalent in a Major Market and prior
      to
      the First Commercial Sale and should another Licensed Product of the same
      Licensed Patents Group commence Phase III Clinical Trials, then such Licensed
      Product shall become the replacement First Licensed Product for that Licensed
      Patents Group and CBT, its Affiliate or sublicensee shall resume the Milestone
      Payments, starting at the event subsequent to the event for which a Milestone
      Payment had already been paid. No Milestone Payment shall be paid more than
      once
      for the First Licensed Product of Licensed Patents Group I or for the First
      Licensed Product of Licensed Patent Group II.

     

    4. That
      part
      of Paragraph 3.6, which reads as:

     

    3.6 Research
      Agreement. CBT
      and
      EMORY agree to enter into and execute a Research Agreement with a term of 2
      year(s), within ninety (90) days of the last date of signing below, regarding
      work by the Inventors, led by Dr. Judith Kapp, in accordance with a mutually
      agreed upon project plan. Such Research Agreement shall be consistent with
      the
      terms of this Agreement, including but not limited to, terms of this Section
      3.6
      and shall be in the form attached to this License Agreement as Appendix "C".
      Such Research Agreement shall require CBT to commit [***] of direct
      research funds plus [***] percent [***] for EMORY's benefits and overhead
      in the amount [***] in unrestricted indirect funding to EMORY.

    

    is
      hereby
      amended and shall read as:

     

    3.6 Research
      Agreement.
      CBT and
      EMORY agree to enter into and execute a Research Agreement with a term of 2
      year(s), within ninety (90) days of the last date of signing below,
      regarding
      work by the Inventors, led by
      Dr.
      Harish Joshi, in accordance with a mutually agreed upon project plan. Such
      Research Agreement shall be consistent with the terms of this Agreement,
      including but not limited to, terms of this Section 3.6 and shall be in the
      form
      attached to this License Agreement as Appendix "C". Such Research Agreement
      shall require CBT to commit [***] of direct research funds plus [***]
      percent [***] for EMORY's benefits and overhead in the amount [***] in
      unrestricted indirect funding to EMORY.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    5. Except
      as
      amended by this FIRST Amendment, all of the terms and conditions of the License
      Agreement, as originally drafted, shall remain in full force and
      effect.

     

    IN
      WITNESS WHEREOF, the
      parties have caused this FIRST Amendment to the License Agreement to be executed
      by their duly authorized officers on the day and year first written
      above.

     

    
      	 	 	 	 
	
              EMORY
                UNIVERSITY  

            	 	 	COUGAR BIOTECHNOLOGY,
              INC.
	 	 	 	 
	 	 	 	 
	/s/ Todd
              T.
              Sherer	 	 	/s/ Alan
              H.
              Auerbach
	
              
                

              

              Name:  Todd T. Sherer, Ph.D.
Title: 
                Assistant Vice President and Director

                     
                Office of Technology Transfer

            	 	 	
              
Name: 
Alan
              H. Auerbach
Title:  Chief Executive
              Officer 

	 	 	 	 
	Date: 
              	 	 	Date:

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