Document:

STOCK REPURCHASE AGREEMENT

     THIS STOCK REPURCHASE AGREEMENT (the "Agreement") is entered into as of
March 10, 2006, by and between Vicor Technologies, Inc., a Delaware corporation
(the "Company"), and David H. Fater (the "Stockholder").

     WHEREAS, the Stockholder is the President and Chief Executive Officer of
the Company;

     WHEREAS, the Stockholder issued that certain Promissory Note dated July 23,
2002 to the Company in the principal amount of $749,975, free of interest for
the first five years of its term, due and payable on July 23, 2007, to enable
the Stockholder to purchase 250,000 shares (the "Original Shares") of the
Company's common stock at a purchase price of $3.00 per share (the "Note"), a
copy of which is attached hereto as Exhibit "A".

     WHEREAS, the Stockholder presently owns all of the Original Shares of the
Company's common stock that he purchased pursuant to the Note;

     WHEREAS, on February 13, 2006, the Board of Directors of the Company, after
careful review and diligent consideration, approved and authorized the Company
to repurchase 150,000 of the Original Shares (the "Purchased Shares") from the
Stockholder at a purchase price of $5.00 per Share; and

     WHEREAS, the Stockholder desires to resell the Purchased Shares to the
Company in a private transaction, and the Company desires to repurchase the
Purchased Shares from the Stockholder in a private transaction, all on the terms
and conditions set forth herein.

     NOW, THEREFORE, in consideration of the mutual promises and covenants
contained herein and other valuable consideration, the parties hereby agree as
follows:

1. Recitals. The foregoing recitals are true and correct. Each of the foregoing
recitals to this Agreement is hereby incorporated into and made a part of this
Agreement.

2. Shares to be Repurchased. Subject to the conditions set forth herein, the
Stockholder hereby agrees to sell to the Company, and the Company agrees to
repurchase from the Stockholder, all of the Purchased Shares for an aggregate
purchase price of $750,000 (the "Purchase Price") to be paid as contemplated in
this Agreement.

3. Payment for the Shares. Upon receipt by the Company of two copies of this
Agreement executed by the Stockholder and the duly endorsed certificate(s)
representing the Purchased Shares, the Company shall:

     (a) apply the full Purchase Price to the outstanding principal amount of
the Note;

     (b) pay to the Stockholder any excess of the Purchase Price over the
outstanding principal amount of the Note;

     (c) deliver the original Note to the Stockholder marked "canceled"; and

     (d) cause a replacement stock certificate to be issued to the Stockholder
representing any of the Original Shares that the Company does not purchase
hereunder.

4. Representations and Warranties of Stockholder. The Stockholder represents,
covenants and warrants to the Company as follows:

     (a) Power and Authority. The Stockholder has full power, legal right and
authority to enter into, execute and deliver this Agreement and any other
agreements, instruments and documents contemplated hereby and to carry out his
or her obligations hereunder. No other acts or proceedings on the part of the
Stockholder are necessary to authorize this Agreement (or any agreements,
instruments and documents contemplated hereby) or the transactions contemplated
hereby. This Agreement and any other agreements, instruments and documents
contemplated hereby, constitute valid and legally binding obligations of the
Stockholder and are enforceable against him in accordance with their respective
terms.

     (b) No Liens or Encumbrances. The Stockholder owns all of the Purchased
Shares beneficially and of record, and, upon transfer of the Purchased Shares to
the Company, the Purchased Shares shall be free and clear of all liens,
encumbrances, security agreements, equities, options, claims, charges and
restrictions. The Stockholder will not permit any liens, encumbrances, security
agreements, equities, options, claims, charges, or restrictions to be placed on
the Purchased Shares, and none of the Purchased Shares have ever been subject to
any claim, lien or encumbrance of any kind.

     (c) No Violation. The execution, delivery and performance of this Agreement
and the consummation of the transactions contemplated herein will not: (i)
violate any order, judgment, injunction, award or decree of any court,
arbitrator or governmental or regulatory body against, or binding upon the
Stockholder or his property; (ii) violate any statute, law or regulation of any
jurisdiction applicable to the Stockholder in connection with the transactions
contemplated hereby; or (iii) violate or constitute a default under any
mortgage, indenture, deed of trust, lease, contract, obligation, agreement,
license or instrument to which the Stockholder is a party.

     (d) No Third Party Authorization. No permits, approvals, consents,
satisfaction of waiting periods, or waivers thereof from any agencies, any
jurisdiction or governmental body, or from any other person whatsoever, are
necessary to allow the Stockholder to consummate the transactions contemplated
by this Agreement in compliance with, and not in breach of, all applicable laws,
rules, regulations, orders or governmental or other agency directives, or the
provisions of any contract binding upon the Stockholder.

5. Access to Information. Prior to the date hereof, the Stockholder and his
legal, accounting and financial advisors have had the opportunity to ask
questions and receive answers from the Company and its officers and directors
concerning the financial condition and business prospects of the Company, and
have received copies of or access to all requested information and documentation
relating to the Company and its financial and business affairs. Without limiting
the generality of the immediately preceding sentence, the Stockholder
acknowledges and agrees that, as President and Chief Executive Officer of the
Company, he is fully familiar with the Company, its business and financial
conditions and its prospects, and he fully understands the impact to him
(financial and otherwise) of the transactions contemplated herein.

6. Sophistication. The Stockholder is sophisticated and experienced in
financial, business and investment matters (particularly with regard to the
business of the Company), and, as a result, the Stockholder is in a position to
evaluate the merits and risks of a sale of the Shares and the tax consequences
to him of such sale. The Stockholder has had, or has had the opportunity to
obtain, the advice and the assistance of legal counsel, accountants and other
professional advisors in connection with evaluating the transactions
contemplated by this Agreement. The Stockholder acknowledges that the Company
has made no representation to the Stockholder in connection with this
transaction as to its accounting or tax treatment.

7. Indemnification. The Stockholder shall indemnify and hold harmless the
Company, and its officers, directors, stockholders, affiliates, employees,
agents and attorneys, (collectively, the "Company Group") against and in respect
of any and all direct or indirect damages, claims, losses, liabilities and
reasonable expenses (including, without limitation, legal, accounting, and other

                                        2

expenses) suffered by any member of the Company Group which arise out of or in
respect of any falsity, inaccuracy or misrepresentation in or breach of any of
the representations, warranties, agreements or covenants made in this Agreement
by the Stockholder.

8. Compliance with Securities Laws. The repurchase of the Purchased Shares by
the Company requires that the Stockholder and the Company comply with applicable
requirements of federal and state securities and corporate laws. Accordingly,
the Stockholder agrees to take any further acts and execute and deliver to the
Company any documents the Company may reasonably require to assure compliance
with such laws.

9. Confidentiality. Each party hereto covenants and agrees that he or it shall
keep all information regarding this Agreement, its terms and conditions and the
transactions contemplated herein confidential at all times, except as otherwise
required by applicable law (including, without limitation, securities laws).

10. Miscellaneous Provisions. This Agreement contains the entire understanding
and agreement between the parties with respect to the subject matter of this
Agreement, and supersedes all other negotiations, understandings and
representations (if any), oral or written, made by and between the parties. All
of the terms and provisions of this Agreement shall be binding upon, inure to
the benefit of, and be enforceable by the parties and their respective heirs,
legal representatives, successors and permitted assigns, whether so expressed or
not. No party shall assign its rights or obligations under this Agreement
without the prior written consent of the other party to this Agreement.

     The headings contained in this Agreement are for convenience of reference
only, and shall not limit or otherwise affect in any way the meaning or
interpretation of this Agreement. If any part of this Agreement or any other
agreement entered into pursuant to this Agreement is contrary to, prohibited by
or deemed invalid under applicable law or regulation, such provision shall be
inapplicable and deemed omitted to the extent so contrary, prohibited or
invalid, but the remainder of this Agreement shall not be invalidated thereby
and shall be given full force and effect so far as possible. All covenants,
agreements, representations and warranties made in this Agreement or otherwise
made in writing by any party pursuant to this Agreement shall survive the
execution and delivery of this Agreement and the consummation of the
transactions contemplated hereby.

     The parties acknowledge that a substantial portion of the negotiations and
anticipated performance of this Agreement occurred or shall occur in Boca Raton,
Florida. Any civil action or legal proceeding arising out of or relating to this
Agreement shall be brought in the courts of record of the State of Florida in
Palm Beach County or the United States District Court, Southern District of
Florida, West Palm Beach Division. Each party consents to the jurisdiction of
this court in any civil action or legal proceeding and waives any objection to
the laying of venue of any civil action or legal proceeding in court. Service of
any court paper may be effected on a party by mail, as provided in this
Agreement, or in any other manner as may be provided under applicable laws,
rules of procedure or local rules.

     This Agreement and all transactions contemplated by this Agreement shall be
governed by, and construed and enforced in accordance with, the internal laws of
the State of Florida without regard to principles of conflicts of laws. If any
legal action or other proceeding is brought for the enforcement of this
Agreement, or because of an alleged dispute, breach, default, or
misrepresentation in connection with any provision of this Agreement, the
successful or prevailing party shall be entitled to recover from the other party
reasonable attorneys' fees (including appellate fees and costs), sales and use
taxes, court costs, and all other expenses even if not taxable as court costs.
This Agreement may be executed in two counterparts, each of which shall be
deemed an original, but both of which together shall constitute one and the same
instrument.

                                        3

     IN WITNESS WHEREOF, the parties hereto have executed this Stock Repurchase
Agreement as of the date first written above.

                                        STOCKHOLDER

                                        /s/ David H. Fater
                                        ----------------------------------------
                                        DAVID H. FATER

                                        VICOR TECHNOLOGIES, INC.

                                        By: /s/ Jerry M. Anchin
                                            ------------------------------------
                                        Name: Jerry M. Anchin
                                              ----------------------------------
                                        Title: V.P./ R&D
                                               ---------------------------------PROPOSAL

                          INTERNET-BASED CLINICAL TRIAL

           Prospective, Multi-Center Study of the Ability of the PD2i
                 Cardiac Analyzer to Predict Risk of Ventricular
              Tachyarrhythmic Events Such As, Sudden Cardiac Death
               (SCD), Ventricular Fibrillation (VF) or Ventricular
                     Tachycardia (VT) in High Risk Patients

                                  Prepared by:

                               TARGET HEALTH INC.
                         261 Madison Avenue, 24th Floor
                               New York, NY 10016
                                  212-681-2100

                                  Submitted to:

                                 Mr. David Fater
                            Vicor Technologies, Inc.
                     2300 NW Corporate Boulevard, Suite 123
                              Boca Raton, FL 33432

                                   19 May 2006

                                TABLE OF CONTENTS

                                                                            PAGE

A.       INTRODUCTION..........................................................1

B.       TARGET HEALTH.........................................................1

C.       TARGET e*CRF(TM)......................................................1

D.       OBJECTIVES............................................................2

E.       TASKS.................................................................3

F.       TIMELINES.............................................................4

G.       FEE...................................................................5

H.       TARGET e*CRF(TM) PROJECT DEVELOPMENT..................................7

I.       PROJECT FLOW CHART...................................................10

J.       TARGET HEALTH INC....................................................11

                                       -i-

A.   INTRODUCTION

VICOR TECHNOLOGIES, INC. ("VICOR") has asked TARGET HEALTH INC. ("TARGET") for a
proposal to provide Internet Data Collection, Data Management and Project
Management Services for Protocol VTI-2003-03, entitled Prospective, Multi-Center
Study of the Ability of the PD2i Cardiac Analyzer to Predict Risk of Ventricular
Tachyarrhythmic Events Such As, Sudden Cardiac Death (SCD), Ventricular
Fibrillation (VF) or Ventricular Tachycardia (VT) in High Risk Patients" dated
10 December 2004.

This proposal contains the objectives, timelines and fees.

B.   TARGET HEALTH

TARGET provides full Regulatory Affairs, Clinical Research, Biostatistics, Data
Management, Medical Writing, Quality Assurance, Strategic Planning and Drug and
Device Development services. In addition, TARGET is committed to bridging
Internet-based technology with the drug and device development processes.

C.   TARGET e*CRF(TM)

Target e*CRF(TM) is an Internet-based, proprietary, data and project management
system created exclusively by TARGET to collect clinical trial data over the
Internet. Operationally, data are entered and submitted directly to a remote
central database through a web-based data entry interface. Benefits include real
time data availability, elimination of traditional paper CRF books, and
minimization of data transcription and logic errors.

                                       1

                                                     TARGET e*CRF(TM)

---------------------------------------------------------- -----------------------------------------------------------
                                                    KEY FEATURES
---------------------------------------------------------- -----------------------------------------------------------

21 CRF Part 11 compliant to assure data integrity, data      Allows for electronic signatures and has date and time
security and traceability.                                   stamps for all data entry and data modifications (audit
                                                             trail).
---------------------------------------------------------- -----------------------------------------------------------
Is 100% developed and managed by TARGET.                     Compatible with Sponsor's database structure and comes
                                                             with data warehousing.
---------------------------------------------------------- -----------------------------------------------------------
Is a configured application with a wet user interface        Runs on all computer systems.

---------------------------------------------------------- -----------------------------------------------------------
Requires NO software installation and NO high speed          Has project specific data entry screens.
internet connections.
---------------------------------------------------------- -----------------------------------------------------------
Runs off regular modem phone lines.                          Can provide pre-assigned patient randomization and pin
                                                             numbers.
---------------------------------------------------------- -----------------------------------------------------------
Is housed at a secure website with a real-time redundant     Utilizes secure encrypted communication.
off-site backup.
---------------------------------------------------------- -----------------------------------------------------------
Provides unique websites and domain name.                    Has a sophisticated, though user-friendly, query
                                                             management system.
---------------------------------------------------------- -----------------------------------------------------------
Is fully compatible with SAS.                                Can provide E-mail notifications.
---------------------------------------------------------- -----------------------------------------------------------
Benefits include:                                            Has customer specific edit/logic checks.
---------------------------------------------------------- -----------------------------------------------------------
     1. Real time data availability.                         Maintains an audit trail of all changes to the database
                                                             once data have been submitted.
---------------------------------------------------------- -----------------------------------------------------------
     2. Elimination of traditional paper CRFs                Has a friendly and easy to use navigation system.
---------------------------------------------------------- -----------------------------------------------------------
     3. Higher data quality                                  Has customer-specific management reports.
---------------------------------------------------------- -----------------------------------------------------------

D.  OBJECTIVES

The objectives of this proposal are to perform Internet-based CRF design, data
capture, data management and project management.

The following summarizes the tasks that are either eliminated or are included
when Internet data collection is performed. Other capabilities are also
highlighted.

                                                           2

--------------------------------------------------- ------------------------------------------------------------------
                       TASK                                                    DESCRIPTION
--------------------------------------------------- ------------------------------------------------------------------

CRF Preparation                                     The CRF is prepared directly on the web.  Only mockups are
                                                    needed.
--------------------------------------------------- ------------------------------------------------------------------
CRF Printing                                        There is no need for commercial photocopying.
--------------------------------------------------- ------------------------------------------------------------------
Retrieve CRF                                        Both the site and sponsor can immediately access the CRF upon
                                                    data entry. There is no need to collect CRFs.
--------------------------------------------------- ------------------------------------------------------------------
Data Entry                                          Since this task is performed by the site, there is also no
                                                    need for double-key entry and related tasks such as SAS "data
                                                    compare" between two databases.
--------------------------------------------------- ------------------------------------------------------------------
In-House Data QA                                    Source document review occurs at the site and is included
                                                    in the monitoring task. There is no in-house review of data entry
                                                    against the CRFs.
--------------------------------------------------- ------------------------------------------------------------------
On Site CRF Review                                  The CRF can be reviewed prior to the monitoring
                                                    visit and questions sent via query management.
--------------------------------------------------- ------------------------------------------------------------------
Edit Check Checks                                   There is no need for most of the usual SAS generated
                                                    edit checks. Most edit and logic checks occur at the time of data
                                                    entry.
--------------------------------------------------- ------------------------------------------------------------------
Database Design                                     Included
--------------------------------------------------- ------------------------------------------------------------------
Audit Trail of Changes to the Database              Included and available in "real" time.
--------------------------------------------------- ------------------------------------------------------------------
Query Resolution                                    All queries are automated with an electronic trail.
--------------------------------------------------- ------------------------------------------------------------------
Statistical Analysis                                The database is mapped for seamless integration with SAS(R).
--------------------------------------------------- ------------------------------------------------------------------

E.   TASKS

In order to prepare the configured Internet-based system, TARGET will perform
the following:

     1.  Meet with VICOR and the CRO to review the Automation Quality Assurance
         Plan, which will include the project Requirements Document and how
         TARGET, the CRO and VICOR will work together. Preferably, this should
         probably be done be done in person, but can be done via
         videoconference.
     2.  Read the protocol.
     3.  Create the CRF forms.
     4.  Provide the Target e*CRF(TM) system which includes:
         a.  Planning and workflow design
         b.  System architecture
         c.  Web hosting
         d.  System administration
         e.  Data modification system (on-line tool)
         f.  Query management system (on-line tool)

                                       3

         g.  Audit trail of changes to the database after completion of data
             transfer from the study site (on-line tool)
     5.  Design one Internet-based data collection and management systems which
         will include:
         a.  One database
         b.  Up to 25 unique data entry screens
         c.  Data entry screen to upload files for central readers of ECGs
         d.  Configured online edit and logic checks (5/form)
         e.  Configure off-line edit checks
         f.  Up to 10 customized project management reports
     6.  Provide forms to confirm electronic signatures.
     7.  Provide CRF Completion Guidelines.
     8.  Provide system user manual.
     9.  Evaluate each study site and provide consultations to optimize their
         computer systems.
     10. Train the project monitors, and project managers to use the system. The
         monitors and VICOR staff will be trained just prior to the Investigator
         Meeting, if there is one, or prior to study initiation. The sites will
         be shown the system at the Investigator Meeting, but will be formally
         trained by the monitors at the initiation meeting.
     11. Map data to SAS specifications.
     12. Transfer data to CRO up to 10 times.
     13. Review the proposed SAS(R) summary tables and data listing formats
     14. Deliver CRF in PDF format, for each patient, data, flagged edit checks,
         audit trail of changes, queries and signatures.
     15. Deliver final data and meta-data in SAS format
     16. Maintain a help desk for the duration of the study. There is a 24/7
         technical hotline for system issues. An internet-based system will be
         set up to retrieve usernames and passwords.
     17. Write the ICH study report.

In order to complete the objectives, VICOR will perform the following:

     1.  Provide final protocol in electronic format.
     2.  Review the Annotated Case Report Forms.
     3.  Review the edit and logic check specifications.
     4.  Provide the location and personnel at each site.
     5.  Roles and responsibilities (each roles level of access to the Target
         e*CRF(TM) application).
     6.  Names of all members of the clinical research team.

F.   TIMELINES

TARGET will deliver the draft Target e*CRF system within three to four weeks of
acceptance of the proposal and receipt of the protocol, sample case report forms
and the database specifications. Database lock can occur as soon as the final
monitoring of the sites is complete. Patients can be cleared on an ongoing
basis, so data lock could occur within days of completion of the last patients.

                                       4

G.  FEE

The estimated fee to complete this project is $338,390

------------------------------------------------------------------- ------------ -------------
                                   Task                                Unit         Total
------------------------------------------------------------------- ------------ -------------

Database Creation                                                          1           12,800
------------------------------------------------------------------- ------------ -------------
Forms                                                                     25           32,000
------------------------------------------------------------------- ------------ -------------
Upload Module                                                              1            2,560
------------------------------------------------------------------- ------------ -------------
Edit Checks (assume 5/form)                                              125           21,875
------------------------------------------------------------------- ------------ -------------
User Manuals                                                               1            2,000
------------------------------------------------------------------- ------------ -------------
CRF Completion Guide                                                                    2,000
------------------------------------------------------------------- ------------ -------------
Management Reports                                                        10           12,800
------------------------------------------------------------------- ------------ -------------
Data Transfers (number of times)                                          10            2,500
------------------------------------------------------------------- ------------ -------------
CRFs and Audit Trail in PDF format (end of study)                        700           14,000
------------------------------------------------------------------- ------------ -------------
ICH Study Report                                                                       35,000
------------------------------------------------------------------- ------------ -------------
Help Desk (months)                                                        24           24,000
------------------------------------------------------------------- ------------ -------------
Initial Planning (2 people, 2 days)                                        2            4,800
------------------------------------------------------------------- ------------ -------------
CRA Training (2 times, 1 day)                                              2            2,800
------------------------------------------------------------------- ------------ -------------
Web Hosting and System Administration (months)                            24           48,000
------------------------------------------------------------------- ------------ -------------
QA                                                                         1           10,857
------------------------------------------------------------------- ------------ -------------
Clinical Site Licensing Year 1                                            30           45,000
------------------------------------------------------------------- ------------ -------------
Clinical Site Licensing Year 2                                            30           15,000
------------------------------------------------------------------- ------------ -------------
QA                                                                                     28,799
------------------------------------------------------------------- ------------ -------------
Project Management                                                                     21,599
------------------------------------------------------------------- ------------ -------------
     GRAND TOTAL                                                                      338,390
------------------------------------------------------------------- ------------ -------------

---------------------------------------------------------------------------- -------------
Payment Schedule
---------------------------------------------------------------------------- -------------

                                              At acceptance of the proposal        67,678
---------------------------------------------------------------------------- -------------
                                                     At application release        15,000
---------------------------------------------------------------------------- -------------
                                              At initiation of the 4th site        52,678
---------------------------------------------------------------------------- -------------
                                                      Monthly for 24 months         8,460
---------------------------------------------------------------------------- -------------

All agreed-upon direct expenses such as travel, overnight mail, commercial
photocopying and printing, etc. will be billed to VICOR as incurred. VICOR will
provide their FED-X number to be used for overnight mail: Change control
requests initiated after project release will be billed at $175/hr, with a
minimum fee of one hr. If the study goes peat 24 months from the date of
enrollment of the initial patient, there will be a $10,000/month maintenance fee
if additional work not delineated in this proposal is required etc., the fee to
perform such work will be negotiated in good faith. All payments are due upon
receipt.

                                       5

For: TARGET HEALTH INC.                           For: VIGOR TECHNOLOGIES, INC.

Jules T. Mitchell                                 Name David Fater

/s/ Jules T. Mitchell                             Signature:  /s/ David H. Fater
---------------------                                         ------------------

Its:  President                                   Its:  President and CEO

Date:  19 May 2006                                Date:  5/25/06

                                       6

H.   TARGET e*CRF(TM) PROJECT DEVELOPMENT

     1.  PROJECT HISTORY

All aspects of engineering must be documented including design, program, coding,
and modifications. A log must be kept from the beginning of the project to the
end, documenting progress notes, memos, personnel information and
requests/responses made by the client.

     2.  PROCEDURE

         a.  REQUIREMENTS DOCUMENT

             1.   Define and document the scope of the system and its users.
             2.   Define and document work flow.
             3.   Identify all data entry forms and their elements with the
                  client.
             4.   Document any and all restrictions and specifications of the
                  forms in compliance to the. protocol.

         b.  PROGRAM FLOW-CHART

             1.   Chart the workflow of the program in a graphical manner.
             2.   Display overall flow of the operation in accordance to the
                  Requirements Document.

         c.  REVIEW AND APPROVAL OF THE PROGRAM FLOW

             1.   Perform, a review, of the flowchart.
             2.   Identify any conflicts of the Requirements Document.

         d.  SYSTEM ARCHITECTURE DESIGN

             1.   Identify the roles and the scope of the client and the server.

         e.  DATABASE PROGRAMMING

             1.   Receive the annotated CRF.
             2.   Create database.
             3.   Code variables and document their values.

         f.  USER INTERFACE PROGRAMMING

             1.   Program all pages required to interact with the end-user,
             2.   Create necessary graphic and design layouts.
             3.   Create links and navigational tools.

         g.  PROCEDURE PROGRAMMING

                                       7

             1.   Program all necessary error correction functions.
             2.   Program all features.
             3.   Program processing modules in compliance to the protocol.
             4.   Document the codes for validation.

         h.  DEBUGGING

             1.   Test the program.
             2.   Correct errors.
             3.   Test for stability of the system.

         i.  REQUIREMENTS DOCUMENT COMPLIANCE REVIEW

             1.   Test the program for compliance to the Requirements Document.
             2.   Correct any violation of the Requirements Document.

         j.  DATA INTEGRITY REVIEW

             1.   Test database for the system rule compliance.
             2.   Test database stability and integrity,

         k.  SYSTEM TESTING AND OPTIMIZATION

             1.   Test the system for any bugs and errors.,
             2.   Test the system for any security vulnerability.
             3.   Optimize the codes for the speed of execution.
             4.   Optimize the system for the maximum stability.

         l.  QUALITY ASSURANCE

             1.   Test the usability of the system.
             2.   Find and correct any errors.

         m.  DRAFT REVIEW & FINALIZATION

             1.   Release draft to the client for review.
             2.   Correct any errors.
             3.   Modify features according to client's specifications.
             4.   Release the application.

         n.  PRE-RELEASE MODIFICATIONS

             1.   Any arid all request for modification including program and
                  design to either the system or the program must be made in
                  writing, and will not be considered until after a technical
                  and/or Examples of pre-release modifications are:

                                       8

                  o   Changes in spelling, wording, and/pr content without any
                      changes in "program," or graphics involved in function(s).

                  o   Any changes in the format of program output without,
                      making any significant changes to the codes of the
                      program.

                  o   Any changes in the parameter of a variable.

         o.  POST-RELEASE CHANGES

             1.   Formal Change Control Procedures occur only after release of
                  the Target e*CRF(TM) application by both TARGET and ADD.

                                       9

I.   PROJECT FLOW CHART

                                 [CHART OMITTED]

                                       10

J.   TARGET HEALTH INC.

TARGET HEALTH INC. is a New York City based full service CRO with staff
dedicated to all aspects of Regulatory Affairs, Clinical Research,
Biostatistics, Data Management, Medical Writing, Strategic Planning and Drug and
Device Development. TARGET HEALTH INC. also has a group of specialized advisors
in the areas of Discovery, Toxicology, Analytical Methods Validation, Product
and Process Development, Quality Assurance and Manufacturing.

TARGET HEALTH INC. submits approximately 6 IND's per year, 3-4 510(k)'s and is
currently involved with 6 active IND's and 2 active DE's. An NDA was approved
which used Target e*CRF(TM), a second NDA as well as a PMA are currently under
review. TARGET HEALTH INC. clients include Fortune 100 companies as well as many
smaller companies. The following summarizes TARGET HEALTH INC.'s capabilities.

              1.       CAPABILITIES

o    REGULATORY AFFAIRS

     1.  Meet with the FDA to discuss and negotiate development strategies

     2.  Prepare and submit:

             o    Pre-1ND/IDE briefing documents

             o    IND and IND amendments

             o    IDE

             o    510(k)

             o    NDA

             o    PMA

             o    DMF

     3.  Interact with legal counsel

     4.  Assure that user-fee monies are submitted on schedule

     5.  Follow up with FDA on post-NDA submission questions

     6.  Perform pre-inspection GMP audits

     7.  Support responses to FDA questions and warning letters

     8.  Adverse event monitoring and reporting

                                       12

o    CLINICAL RESEARCH

     1.  Prepare protocols, case report forms and informed consent forms

     2.  Perform qualification, initiation, monitoring and closeout visits

     3.  Generate investigator study files

     4.  Monitor drug supply

     5.  Identify study sites and manage investigator payments

     6.  Prepare clinical sites for FDA inspection

     7.  Perform Quality Assurance audits

o        MEDICAL WRITING

     1.  Write integrated clinical and statistical study reports and other
         regulatory manuscripts

     2.  NDA Submissions

         a.  application summary

         b.  chemistry, manufacturing and controls

         c.  labels and labeling

         d.  non-clinical pharmacology and toxicology

         e.  human bioavailability

         f.  clinical/statistical sections. including ISS/1SE

         g.  benefit/risk

         h.  drug abuse and overdose

o    BIOSTATISTICS AND DATA MANAGEMENT

     1.  Web-based data collection and retrieval using Target a*CRF(R)

     2.  Calculate sample size

     3.  Generate randomization codes

     4.  Generate database, perform data entry and QA

                                       12

     5.  Perform statistical analyses using Statistical Analysis System (SAS(R))

     6.  Prepare electronic files, with documentation, in SAS(R)

o    PRODUCT AND PROCESS DEVELOPMENT:

     1.  Perform product and process development and optimization

     2.  Production of clinical supplies under CGMP

     3.  Arrange for drug supply packaging and labeling

     4.  Perform analytical methods development and validation

     5.  Troubleshoot product and process issues

     6.  Identify contract manufacturers for product commercialization

o    TOXICOLOGY

         1.  Design and implement toxicology programs to support clinical safety
             and regulatory requirements

o    STRATEGIC PLANNING

         1.  Work closely With the sponsor, Medical, scientific, toxicology,
             manufacturing and business experts to dearly delineate development
             requirements with a philosophy of efficiency and expediency

         2.  Evaluate available and competitive technologies

o    LICENSING

         1.  Introduce new and exciting products to the large pharmaceutical
             companies

                                       13

                           2.  OVERALL ACCOMPLISHMENTS

REGULATORY SUBMISSIONS:

NDA:

Repronex (Ferring Pharmaceuticals, Inc., Approved, US and Canada), B.ravelle
(Ferring Pharmaceuticals, Inc., Approved), Menopur (Ferring Pharmaceuticals,
Inc., Approved), Ophthalmology (Occuhist, Pfizer, Inc., Approved) and,
Dermatology (submitted and withdrawn by the sponsor)

PMA:,

Periodontology (Biomimetic Pharmaceuticals, Approved)

INP:

Hereditary angioedema, 3rd degree burns, HIV, Infertility, Male and Female
Sexual Dysfunction, Oncology, Ophthalmology, Dermatology (head lice, hair
growth, acne), Oral Care, Cholesterol Lowering Agent,

IDE:

Home Use NST Device, OB/GYN and Cardiovascular Anti-AdhesiOn Device

510(K) APPROVED:

Pregnancy Test (Chembio, inc.), Keloid Scar Reduction (Life Medical Sciences,
Inc.), Keloid Scar Reduction (Blaine Laboratories) Acupuncture (MOPOint,140),
Parkinson's Disease Monitor. (GNP Holdings, Ltd.), Dental Prophy Paste (Ortek,
Inc.), Dental Cream For Sensitive Teeth (Ortek, Inc.)

ORPHAN DRUG:

Caries reduction (head and neck cancer)
Hereditary Angioedema
Third degree burns (2)
Gaucher's disease (submitted)
Alagille Syndrome (submitted)
Cystic Fibrosis (in preparation)

FDA MEETINGS:

Pre-IND

Hereditary Angioedema, Gaucher's Disease, Male and Female Sexual Dysfunction,
Dermatology, Oncology, 'Infertility, Cholesterol Lowering, Ophthalmology, Wound
Healing

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End of Phase 2
         Dermatology, infertility, Cystic Fibrosis, Aligille Syndrome
Pre-NDA
         Infertility, Dermatology
Pre-IDEo
         Cardiology, Prostate Cancer, Gynecology, Fetal Monitoring, Diabetic
         Foot Ulcer
Guidance Meetings
         Breast Cancer Diagnostic

Clinical, Research - Phases 1 - 4:

Oral Mucositis, Cystic Fibrosis, Male and Female Sexual Dysfunction,
Pharmacokinetics, Rheumatoid Arthritis, Osteoarthritis, Gout; Oral Care,
Dermatology (acne, hair growth), Oncology (prostate cancer), AIDS, Cardiology,
Ophthalmology, Dermatology, Antiinfectives, COPD Radiopharmaceutic, Fetal
Monitoring (NST), Pregnancy Diagnostic, Anti-Adhesion Device

Biostatistics and Data Management:

Congestive Heart Failure, Infertility, Antiinfectives, Male and Female Sexual
Dysfunction, Meta Analyses, Cystic Fibrosis; Pharmacokinetics

Medical Writing:

Antidepressant in the Elderly, Orphan Drug Application (HIV/AlDS; Head and o
Neck Cancer), Male and Female Sexual Dysfunction, Cardiology Antiinfectives,
Rheumatoid Arthritis, Osteoarthritis, Gout, Oral Care, Dermatology, Oncology,
AIDS, Ophthalmology, Dermatology

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