Document:

Exhibit 10.15

                     AMENDED AND RESTATED LICENSE AGREEMENT
                     --------------------------------------

     This Amended and Restated License Agreement ("Agreement"), effective this
30th day of December, 2004 is between the University of Chicago, an Illinois
not-for-profit corporation ("UNIVERSITY"), having its principal office at 5555
S. Woodlawn Avenue, Chicago, IL 60637 USA and PharmaFrontiers Corp., a Texas
corporation ("PF") having its principal office at 2408 Timberloch Place, Suite
B-7, The Woodlands, Texas 77380. Each hereunder may be referred to separately as
the ("Party"), or together as the ("Parties"). The Parties agree:

1.   Recitals.

     A.   To the best of the UNIVERSITY's knowledge at the date of execution of
          this Agreement, the inventions identified in Schedule A were conceived
          or first reduced to practice by the UNIVERSITY as Operator of Argonne
          National Laboratory (ANL) in the performance of work under its U.S.
          Department of Energy (DOE) Prime Contract No. W-31-109-ENG-38.
          Pursuant to the terms of the DOE Contract and 35 USC 200 et seq.,
          UNIVERSITY has acquired certain rights in and to said inventions.

     B.   PF, a small business entity specializing in the development of
          therapeutic products, is interested in acquiring certain rights to
          said inventions.

     C.   UNIVERSITY is willing to grant such rights so that said inventions may
          be developed and used to the fullest extent for the benefit of the
          U.S. economy and the general public.

     D.   The Parties agree that this Agreement is the entire understanding
          between the Parties and supersedes all previous understandings and
          agreements, including the license agreement executed on February 20,
          2004 (the "Original License Agreement") between the Parties. The
          License Agreement previously entered into by UNIVERSITY and PF on
          February 20, 2004 is hereby terminated upon the date of execution of
          this Agreement.

2.   Definitions. The following capitalized terms used in this Agreement shall
     mean:

     A.   "Affiliate" means, as to any person or entity, any other person or
          entity, which directly or indirectly controls, is controlled by or is
          under common control with the Party. Control shall mean the right to
          control, or actual control of, management of such other entity,
          whether by ownership of voting securities, by agreement, or otherwise,
          or the direct or indirect ownership of the maximum percentage of such
          stock permitted under local laws or regulations in those countries
          where 50% ownership by a foreign entity is not permitted.

     B.   "Calendar Quarter "means each of the four, three-month periods ending
          on March 31st, June 30th, September 30th, and December 31st.

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     C.   "Effective Date" means the date appearing in line 1 of this Agreement.

     D.   "Field" means all fields of use within diagnosis of, production of
          therapeutics for, or treatment of diseases and/or disorders in humans
          and the use in animals only for the development of such products or
          applications in humans. The Field includes making stem cells and
          banking of stem cells for such purpose and diagnostics, drug testing,
          therapeutics and screening of small molecules, proteins, and/or
          peptides which may cause differentiation of stem cells in vitro and/or
          in vivo and the stem cells themselves.

     E.   "First Financing" means any financing received by PF where total
          cumulative proceeds received by PF equal or exceed ten million
          ($10,000,000.00) US dollars as recorded by PF's SEC filing records,
          excluding the 15% Exchangeable Convertible Subordinated Promissory
          Notes (the first tranch of which were issued September 30, 2004) up to
          ten million ($10,000,000.00) US dollars.

     F.   "Licensed Patents," means the patents and patent applications listed
          on Schedule A and attached hereto, including all continuations,
          divisionals, and corresponding foreign patent applications and any
          patents which may issue therefrom and any reissues, renewals,
          reexaminations, substitutions, or extensions of or to any such patents
          or patent applications.

     G.   "Licensed Product(s)" means any product covered by the scope of any
          Valid Claim contained in any Licensed Patent or a product made by a
          process, method or technique covered by the scope of any Valid Claim
          in any Licensed Patent or methods of using any product covered by the
          scope of any Valid Claim contained in any Licensed Patent.

     H.   "Licensed Method(s)" means any method, procedure or process whose use
          or practice is within the scope of any Valid Claim of any Licensed
          Patents including but not limited to any service or part of selling a
          service, licensing a method of use or other means of deriving
          commercial benefit from Licensed Products.

     I.   "Net Sales" means the gross sales of Licensed Products and Licensed
          Methods sold or otherwise distributed in the Territory, less the
          following amounts directly chargeable to such sales as indicated on
          individual invoices:

          1)   customary trade, quantity or cash discounts and rebates actually
               allowed and taken;

          2)   amounts repaid or credited to customers on account of rejections
               or returns; and

          3)   freight and other transportation costs, including insurance
               charges, and duties, tariffs, sales and excise taxes and other
               governmental charges based directly on Sales, turnover or
               delivery of such Licensed Products and actually paid or allowed
               by PF and its Affiliates.

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          Net Sales shall be determined in accordance with generally accepted
          accounting principles consistently applied.

     J.   "Outstanding Number of Shares" means all shares of PF's stock
          outstanding on the relevant date, assuming the exercise of all options
          granted under any stock option plan of PF, the conversion of all other
          convertible securities then outstanding into Common Stock and the
          exercise, and conversion into Common Stock, of all other options and
          warrants of the Company that are then outstanding.

     K.   "Research and Development Expenses" means all expenditures, in US
          Dollars, by PF, its Sublicensees and any of their Affiliates on the
          following items dedicated to the research and development of Licensed
          Products(s) and/or Licensed Method(s): 1) materials, 2) the
          depreciation of equipment and facilities, 3) wages and benefits of
          employees, and 4) payments to third parties for conducting research
          and development of Licensed Product(s) and/or Licensed Method(s) on
          behalf of PF.

     L.   "Royalties" means all amounts payable under Article 4 of this
          Agreement.

     M.   "Sale" means any transaction in which a Licensed Product(s) and/or
          Licensed Method(s) is placed with a third party or used for the
          benefit of PF or a third party; provided "Sale" shall not include any
          placement or use of a Licensed Product(s) and/or Licensed Method(s)
          with or by a third party which is for testing or experimental
          purposes, including any animal or clinical trials so long as such
          placements are reported to the UNIVERSITY and for which no
          Compensation is received.

     N.   "Sublicensee" shall mean any person, company or other entity granted a
          Sublicense by PF, including Affiliates of the Sublicensee.

     O.   "Sublicense" shall mean any agreement entered into by PF with any
          person, company or other entity pursuant to which any of the rights
          granted to PF to the Licensed Patents are exercised.

     P.   "Territory" means worldwide.

     Q.   "Valid Claim" means an issued claim of any unexpired patent or a claim
          of any pending patent application which has not been held
          unenforceable, unpatentable or invalid by a decision of a court or
          governmental body of competent jurisdiction, in a ruling that is
          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
          irrecoverable failure to pay a maintenance fee.

3.   Grant.

     A.   Exclusive Patent Grant. Subject to paragraphs 3.D and 3.E., UNIVERSITY
          hereby grants to PF and its Affiliates, an exclusive, non-transferable
          license, to make, have made, use, have used, import, offer to sell,
          sell and/or have sold Licensed Products and/or Licensed Method(s)
          within the Field and within the Territory during the term of this
          Agreement.

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     B.   Sublicense. PF shall have the exclusive right to grant Sublicenses to
          and under the Licensed Patents to third parties limited to and
          consistent with the rights granted PF under Paragraph 3.A within the
          Field and within the Territory.

     C.   Sublicense to Former Affiliates. For any Affiliates who have been
          granted rights by UNIVERSITY under Paragraph 3.A and who subsequently
          do not qualify as an Affiliate under the definition in 2.A, the
          UNIVERSITY shall, upon PF's request, offer to such former Affiliates a
          license under substantially the same terms and conditions as is
          contained in this Agreement and shall agree to negotiate in good faith
          to execute such an agreement. If no agreement is reached within six
          months of the UNIVERSITY's offer to said former Affiliate, the
          UNIVERSITY shall not be obligated to continue negotiation with such
          former Affiliate and will have no further obligation to execute any
          license with such former Affiliate.

     D.   No Other Rights. No rights in and to the Licensed Patents other than
          those provided in Paragraphs 3.A. and 3.B., above, express or implied,
          are conveyed by UNIVERSITY.

     E.   Reservation of Rights. UNIVERSITY reserves for itself, the worldwide
          right to use the Licensed Patents and to practice the inventions
          claimed in the Licensed Patents for any educational and/or
          non-commercial research purpose it may choose at its own discretion
          and without any payment therefore. UNIVERSITY shall have the right to
          grant non-exclusive licenses to third parties to practice the
          inventions claimed in the Licensed Patents for non-commercial research
          purposes only. If tangible property is provided by UNIVERSITY to PF,
          UNIVERSITY reserves the right to make, use and provide tangible
          property and to grant non-exclusive licenses to make and use such
          tangible property to third parties for non-commercial research
          purposes only. In addition, the inventions claimed in the Licensed
          Patents were made with the use of funds from the United States
          government. Therefore, the U.S. Government has a paid-up,
          royalty-free, non-transferable, worldwide, irrevocable license for
          government use to practice or have practiced by or on behalf of the
          U.S. Government the Licensed Patents. The U.S. Government has certain
          other rights under 35 USC 200 et seq. and applicable regulations.

4.   License Fees, Royalties and Other Payments.

     A.   License Fee. As partial consideration for the license granted in
          Article 3 of this Agreement, PF shall pay UNIVERSITY the sum of one
          hundred and seventy-five thousand U.S. dollars ($175,000) due and
          payable immediately upon execution of this Agreement. The sums due and
          payable under this Paragraph are nonrefundable and noncreditable
          against Royalties.

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     B.   Equity. As partial consideration for the license granted in Article 3
          of this Agreement, PF shall issue to the UNIVERSITY two hundred
          forty-two thousand six hundred and eighty-eight shares (242,688) (the
          "Shares") of capital stock representing one hundred eighty-seven
          thousand six hundred eighty-eight shares of capital stock already
          owned by the UNIVERSITY and an addition fifty-five thousand shares of
          capital stock. Such Shares shall be issued to University immediately
          upon execution of this Agreement. The consideration due and payable
          under this Paragraph is nonrefundable and non-creditable against
          Royalties. If certificate(s) representing such Shares are not received
          by UNIVERSITY within seven (7) days of the Effective Date, this
          Agreement shall be deemed in default and this Agreement shall
          automatically terminate effective immediately.

     C.   Milestones.

          i.   PF shall pay to University one and one half million
               ($1,500,000.00) US dollars upon the occurrence of the First
               Financing or October 30, 2005 which ever occurs first. As of the
               date of execution of this Agreement, the First Financing is
               projected to take the form of a PIPE executed on or about March
               31, 2005 with expected total revenue of thirty to forty million
               $30-40,000,000.00) US dollars and shall be executed by Sanders
               Morris Harris. Should any other First Financing become the
               preferred method of financing PF shall notify UNIVERSITY of its
               intent and the proposed timing of such alternative First
               Financing. If the required payment is not received within seven
               (7) days of the closing date of First Financing or on or before
               October 30, 2005 which ever occurs first, UNIVERSITY shall have
               the right, at its sole discretion, to terminate this Agreement
               effective immediately upon notice to PF or to accept equity
               through the issuance of Common Stock with piggyback registration
               rights valued at the Conversion Price, and all accrued interest,
               at 15% per annum, from the date of execution of this Agreement
               until October 30, 2005 computed on the basis of a three hundred
               and sixty (360) day year of twelve (12) thirty (30) day months,
               and paid within ten (10) days of notice to PF that UNIVERSITY
               elects to exercise its right to accept equity under this
               paragraph.

          ii.  Upon the occurrence of the later of First Financing or November
               30, 2005, PF shall issue to UNIVERSITY shares of Common Stock
               such that the aggregate number of shares issued to UNIVERSITY,
               including the Shares issued pursuant to Paragraph 4.B, shall
               represent two and six-tenths of a percent (2.6%) of the total
               Outstanding Number of Shares after conversion of the 15%
               Exchangeable Convertible Subordinated Promissory Notes, the first
               tranch of which was issued September 30, 2004, and after issuance
               of any and all equity in the form of stock at the close of the
               First Financing (the "Additional Shares").

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          iii. Registration Rights. PF agrees to grant and grants to UNIVERSITY
               the registration rights, with respect to the Shares and
               Additional Shares, set forth in Schedule B, and agrees to execute
               contemporaneously with the execution of this Agreement the
               Registration Rights Agreement included as Schedule B.

     D.   Capitalization. PF represents and warrants to UNIVERSITY that the
          capitalization table set forth in Schedule C attached hereto
          represents all of the issued and outstanding shares of stock, options,
          warrants and other securities of PF as of the date hereof, and no
          other warrants, options, stock rights or other securities of PF have
          been issued or are authorized to be issued by its Board of Directors.
          PF further represents and warrants that all Shares issued to
          UNIVERSITY pursuant to this Agreement shall be duly authorized,
          validly issued, deemed fully paid and non-assessable and not issued in
          violation of, and are not subject to, any preemptive rights.
          Non-payment or misrepresentation of information provided to UNIVERSITY
          by PF under this Agreement, is considered a material breach and
          UNIVERSITY may terminate the License pursuant to Paragraph 11.B. PF
          hereby agrees to promptly notify UNIVERSITY upon the close of each
          financing.

     E.   Royalties. As partial consideration for the license granted in Article
          3 of this Agreement, PF shall pay UNIVERSITY a Royalty of of Net Sales
          of Licensed Product(s) and/or Licensed Method(s) by PF, its
          Sublicensees and Affiliates of either. The Royalty obligation under
          this paragraph shall apply to the first Sale of a Licensed Product(s)
          and/or Licensed Method(s) whether by PF or a Sublicensee. Royalty
          payments shall be due quarterly and payable within thirty (30) days of
          the end of each Calendar Quarter beginning in the period in which the
          first Sale occurs.

     F.   Royalty Offset. In the event that, with respect to Net Sales of
          Licensed Products and/or Licensed Methods, PF is paying royalties to
          unaffiliated third parties for patent rights and the unaffiliated
          third party patent rights dominate the Licensed Patents such that the
          Licensed Patents cannot be practiced without infringing such third
          party rights in the absence of a license, the Royalties due and
          payable to UNIVERSITY hereunder shall be proportionally reduced by of
          the royalty rate due such third party, but in no event shall the
          Royalty payable to UNIVERSITY be less than of Net Sales. By example,
          if the royalty due other third parties equals of Net Sales, the
          Royalty due UNIVERSITY shall be ; if the royalties due other third
          parties equals or more, of Net Sales, the Royalty due UNIVERSITY shall
          be . A Sublicensee shall not be entitled to any Royalty Offset under
          this Paragraph 4.F for any third party license it requires. However,
          PF will be entitled to the Royalty Offset if it is required to take a
          third party license as described above and subsequently sublicenses
          the Licensed Patents and the third party patents to a Sublicensee.

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     G.   No Multiple Royalties. One royalty shall be payable for Licensed
          Product(s) and/or Licensed Method(s) regardless of the number of
          Licensed Patents which cover such licensed Product(s) and/or Licensed
          Method(s).

     H.   Minimum Royalties. Beginning in the calendar year that includes the
          third anniversary of the Effective Date of this Agreement Minimum
          Royalties shall be due and payable according to the following
          schedule;

          1)   If the total Royalties for the calendar year that includes the
               third anniversary of the Effective Date of this Agreement are
               less than , PF shall pay UNIVERSITY the difference between such
               amount and the actual Royalties due. Such payment shall be made
               at the same time payment for Royalties for the fourth quarter for
               such year is due.

          2)   If the total Royalties for the calendar year that includes the
               fourth anniversary of the Effective Date of this Agreement are
               less than , PF shall pay UNIVERSITY the difference between such
               amount and the actual Royalties due. Such payment shall be made
               at the same time payment for Royalties for the fourth quarter for
               such year is due.

          3)   If the total Royalties for the calendar year that includes the
               fifth anniversary of the Effective Date of this Agreement are
               less than , PF shall pay UNIVERSITY the difference between such
               amount and the actual Royalties due. Such payment shall be made
               at the same time payment for Royalties for the fourth quarter for
               such year is due.

          4)   If the total Royalties for the calendar year that includes the
               sixth anniversary of the Effective Date of this Agreement are
               less than , PF shall pay UNIVERSITY the difference between such
               amount and the actual Royalties due. Such payment shall be made
               at the same time payment for Royalties for the fourth quarter for
               such year is due.

          5)   If the total Royalties for the calendar year that includes the
               seventh anniversary of the Effective Date of this Agreement are
               less than , PF shall pay UNIVERSITY the difference between such
               amount and the actual Royalties due. Such payment shall be made
               at the same time payment for Royalties for the fourth quarter for
               such year is due.

          6)   If the total Royalties for the calendar year that includes the
               eighth anniversary of the Effective Date of this Agreement, and
               for every year thereafter are less than , PF shall pay UNIVERSITY
               the difference between such amount and the actual Royalties due.
               Such payment shall be made at the same time payment for Royalties
               for the fourth quarter for such year is due.

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     I.   Calculation of Royalties. Royalties shall be payable in U.S. currency
          within thirty days (30) days after the end of each Calendar Quarter
          for the Term of the Agreement, beginning with the Calendar Quarter in
          which the first Sale of a Licensed Product(s) and/or Licensed
          Method(s) occurs. A royalty statement showing Net Sales for each
          country and a calculation of the Royalties due shall accompany each
          payment. Any necessary conversion of currency into United States
          dollars shall be at the applicable rate of exchange of Citibank, N.A.,
          in New York, New York, on the last day of the Calendar Quarter in
          which such transaction occurred.

     J.   Sublicense flow through.

          i.   For each Sublicense granted by PF the following shall apply. PF
               shall notify UNIVERSITY prior to the execution of any Sublicense.
               PF will disclose the identity of the potential Sublicensee to
               UNIVERSITY and shall provide UNIVERSITY with a copy of all
               executed Sublicenses. All Sublicenses shall provide that the
               Sublicensee may not grant further Sublicenses to third parties.
               If the aggregate of Average Annual Payments arising from any
               sublicense is not at least , then within sixty (60) days of the
               fifth anniversary of the execution of the Sublicense PF shall
               either terminate such Sublicense or pay UNIVERSITY times the
               difference between the Average Annual Payments and . "Average
               Annual Payments" shall mean the aggregate of all Royalties and
               flow through payments made in respect of a Sublicense over each
               of the five year periods ending on each of the fifth, tenth,
               fifteenth and twentieth anniversary of the date hereof divided by
               five.

          ii.  For each Sublicense granted by PF, PF shall pay UNIVERSITY of all
               Compensation. For this Section 4.J., "Compensation" means all
               fees, minimum royalties, milestone payments and other cash
               payments of any kind and in kind payments or equity amounts paid
               in lieu of cash, paid by a Sublicensee in consideration of the
               Sublicense. "Compensation" does not include (i) payments that
               constitute Net Sales that are subject to Royalties pursuant to
               Paragraph 4.E.; or (ii) payments or contributions of materials or
               services from a Sublicensee which PF is obligated to use in
               research and development and which qualify as Research and
               Development Expenses.

          iii. If royalties paid by any Sublicensee to PF are not subject to the
               obligations under Paragraph 4.E because PF Sold Licensed
               Product(s) and/or Licensed Method(s) to such Sublicensee and
               therefore paid a Royalty to the UNIVERSITY under Paragraph 4.E,
               any such royalties paid to PF for Sublicensee's sales of Licensed
               Product(s) and/or Licensed Method(s) shall be subject to the
               sublicense flow through obligations of this paragraph.

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          iv.  In the event that, with respect to the Sublicense of Licensed
               Patents, PF is required to additionally sublicense other
               intellectual property which has been licensed from a third party
               and to which third party sublicense flow through is owed, and
               that third party licensed intellectual property dominates the
               Licensed Patent such that Licensed Patents cannot be practiced
               without infringing the third party licensed intellectual property
               in the absence of a license, the amount due and payable to
               UNIVERSITY hereunder shall be proportionally reduced by of the
               sublicense flow through obligation due such third party, but in
               no event shall the sublicense flow through payable to UNIVERSITY
               be less than of all compensation received by PF from Sublicensee.
               Payments shall be made (or assigned as relevant) to UNIVERSITY
               within thirty (30) days of receipt by PF. For this purpose
               compensation includes all fees, minimum royalties, milestone
               payments and other cash payments of any kind and any in kind
               payments or equity amounts taken in lieu of cash. It is the
               intent and agreement of the parties that UNIVERSITY will be paid
               of any kind of Compensation paid by a Sublicensee for rights
               granted to such Sublicensee under this Agreement without regard
               to how the Compensation is structured, denominated or paid.

     K.   Sublicense after R&D expenditure of US dollars. At such time when PF
          expends US dollars in Research and Development Expenses other than
          with Licensor, the sublicense flow through subject to 4.J.ii above,
          for all Sublicenses will be reduced from of Compensation from the date
          on which such expenditure is confirmed by UNIVERSITY. In the event
          that, with respect to the Sublicense of Licensed Patents after
          expenditure of US dollars as described above, PF is required to
          additionally sublicense other intellectual property which has been
          licensed from a third party and to which sublicense flow through is
          owed, and that third party licensed intellectual property dominates
          the Licensed Patents such that the Licensed Patents cannot be
          practiced without infringing the third party licensed intellectual
          property in the absence of a license, the amount due and payable to
          UNIVERSITY hereunder shall be proportionally reduced by of the
          sublicense flow through obligation due such third party, but in no
          event shall the sublicense flow through payable to UNIVERSITY be less
          than of all compensation received by PF from Sublicensee. All other
          Sublicense conditions remain as described in Paragraph J., above.

     L.   Overdue Payment. PF shall be responsible for obtaining the full
          compliance of its Affiliates with the terms and conditions of this
          Agreement. For purposes of payments, PF shall be fully responsible for
          any payments not made by its Affiliates according to the terms and

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          conditions of this Agreement. Payments due to UNIVERSITY under this
          Agreement shall, if not paid when due under the terms of this
          Agreement, bear simple interest at the prime rate of interest (as
          published by Citibank, N.A. on the date such payment is due) plus
          percent ( %), calculated on the basis of a 360 day year for the number
          of days actually elapsed, beginning on the due date and ending on the
          day prior to the day on which payment is made in full. Interest
          accruing under this Paragraph shall be due to UNIVERSITY on demand or
          upon payment of past due amounts, whichever is sooner. The accrual or
          receipt by UNIVERSITY of interest under this Paragraph shall not
          constitute a waiver by UNIVERSITY of any right it may otherwise have
          to declare a default under this Agreement or to terminate this
          Agreement.

     M.   Records. UNIVERSITY may from time to time and at any reasonable time,
          not exceeding once every twelve (12) months, through such firm of
          certified public accountant (auditor) as UNIVERSITY may select,
          inspect the books and records of PF and its Affiliates in order to
          verify the accuracy of reported statement by PF of sums paid or
          payable. PF shall, and shall cause its Affiliates, to keep full and
          accurate books and records in sufficient detail so that sums due
          UNIVERSITY hereunder can be properly calculated. Such books and
          records shall be maintained for at least five (5) years after the
          Royalty reporting period(s) to which they relate. Books and records
          shall include but not be limited to:

          i.   Accounting General Ledgers

          ii.  Invoice/Sales Registers

          iii. Original Invoice and Shipping Documents

          iv.  Federal and State Business Tax Returns

          v.   Company Financial Statements

          vi.  Sales Analysis Reports

          vii. Inventory and or Manufacturing Records

          viii. Sub-License and Distributor Agreements

          ix.  Price Lists, Product Catalogs and Other Marketing Materials

          After completion of any such examination, UNIVERSITY shall promptly
          notify PF in writing of any proposed modification to PF statement of
          sums due and payable. If PF accepts such modification, or if the
          Parties agree on other modifications, one Party shall promptly pay or
          credit the other in accordance with such resolution. Such examination
          shall be made at the expense of UNIVERSITY, unless such examination
          discloses a discrepancy of five percent (5%) or more in the amount of
          Royalties and other payments due UNIVERSITY. In such case PF shall be

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          responsible for reimbursing UNIVERSITY for the examination fee and
          expenses charged by the auditor. Any underpayment as determined by the
          auditor will bear interest at five percent (5%) per month from the
          date the royalty payment was due. PF agrees to pay past due royalties
          for any royalty deficiency error as determined by the auditor, which
          affects periods within the period under audit. In addition, PF agrees
          to pay past due royalties for any royalty deficiency error as
          determined by the auditor, which affects periods prior to the period
          under audit. UNIVERSITY and the auditor shall maintain in confidence
          such inspection and its resulting report. The auditor may from time to
          time consult the UNIVERSITY and any of its' employees or third party
          counsel on questions as they relate to the licensed technology. The
          auditor may not disclose financial or proprietary information except
          as required by the license agreement or if it already exists in the
          public domain. No other confidentiality agreement shall be required to
          conduct the audit of the PF's books and records.

5.   Diligence.

     A.   FDA Approval. PF agrees to use its best efforts to file and receive
          Food and Drug Administration (FDA) approval for either a Licensed
          Product(s) and/or Licensed Method(s) on or before February 20, 2011.

     B.   Development Plan. Upon execution of this Agreement and on each
          anniversary of the Effective Date of the Agreement until first
          commercial Sale, PF shall provide the UNIVERSITY with a commercial
          development plan for Licensed Product(s). Such summary shall include
          statements regarding research and development plans and expenditures,
          product milestones and related timetable schedules, government or
          regulatory timetables, market entry timetables, and sales and
          marketing plans and related financial data. Until PF and its
          Sublicensees and Affiliates of either have spent an aggregate of US
          dollars on Research and Development Expenses as required in Paragraphs
          5.E and 5.F below, PF shall provide an annual report of the itemized
          expenditures toward research and development of Licensed Product(s)
          and/or Licensed Method(s). Such report shall be itemized in
          conjunction with the definition of Research and Development Expenses
          and will include an explanation regarding the percent commitment of
          employees, materials, equipment, facilities and contracts toward the
          development of Licensed Product(s) and/or Licensed Method(s).

     C.   Sale Deadline. If PF fails to make a Sale of Licensed Product(s) or
          Licensed Method(s) by February 20, 2011, UNIVERSITY shall have the
          right to unilaterally terminate this Agreement. Such termination shall
          be effective thirty days (30) after notice to PF.

     D.   Notification of First Sale. PF agrees to immediately notify UNIVERSITY
          in writing when Sales of Licensed Product(s) and/or Licensed Method(s)
          first occur and when PF's obligation to begin making Royalty payments
          begins.

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     E.   Research Expenditures. PF shall demonstrate direct expenditure of at
          least US dollars on Research and Development Expenses before February
          2006. Such expenditure may be made solely by PF or by PF and its
          Sublicensees, but in no event shall the total expenditure by
          Sublicensees account for greater than fifty (50%) percent of the US
          dollars required to satisfy the diligence obligations of this
          Paragraph. If PF fails to comply with the diligence obligation in this
          Paragraph, the Agreement shall be amended to restrict the grant as
          follows: 1) an exclusive license in two cell therapy areas chosen from
          the list of maladies in the Licensed Patents, ie: parkinson's disease,
          cardiac revascularization, liver disease, etc. (such areas to be
          determined by PF) and 2) a non-exclusive in the remainder of the
          Field. Such two exclusive areas will be identified in an amendment to
          this Agreement to be executed within thirty (30) days of notification
          to PF from UNIVERSITY that the diligence obligation under this
          Paragraph was not met. Failure to execute an amendment within the
          thirty (30) days gives the UNIVERSITY the right to unilaterally
          terminate this Agreement effective thirty (30) days after notice of
          termination is given to PF.

     F.   Research Expenditures. PF shall demonstrate direct expenditure of an
          aggregate of at least US dollars (including amounts spent pursuant to
          Paragraph 5.E) on Research and Development Expenses before February
          20, 2008. Such expenditure may be made solely by PF or by PF and its
          Sublicensees, but in no event shall the total expenditure by
          Sublicensees account for greater than fifty (50%) percent of the US
          dollars required to satisfy the diligence obligations of this
          Paragraph. If PF fails to comply with the diligence obligation in this
          Paragraph but has met the diligence obligation in Paragraph 5.E., the
          Agreement shall be amended as follows: 1) an exclusive license in two
          cell therapy areas chosen from the list of maladies in the Licensed
          Patents, ie: parkinson's disease, cardiac revascularization, liver
          disease, etc. (such areas to be determined by PF) and 2) a
          non-exclusive in the remainder of the Field. Such two exclusive areas
          will be identified in an amendment to this Agreement to be executed
          within thirty (30) days of notification to PF from UNIVERSITY that the
          diligence under this Paragraph was not met. Failure to execute an
          amendment within the thirty (30) days gives the UNIVERSITY the right
          to unilaterally terminate this Agreement effective thirty (30) days
          after notice of termination is given to PF. If PF fails to comply with
          the diligence obligation in this Paragraph and has failed to meet the
          diligence obligation in Paragraph 5.E., the Agreement shall be amended
          as follows; the exclusive license shall be amended to a non-exclusive
          license in the Field. Such an amendment to this Agreement to be
          executed within thirty (30) days of notification to PF from UNIVERSITY
          that the diligence under Paragraphs 5.E. and 5.F. were not met.
          Failure to execute an amendment within the thirty (30) days gives the
          UNIVERSITY the right to unilaterally terminate this Agreement
          effective thirty (30) days after notice of termination is given to PF.

                                       12
<PAGE>

6.   Patent Prosecution and Maintenance.

     A.   Prosecution and Maintenance. UNIVERSITY shall be solely responsible
          for the preparation, filing, prosecution and maintenance of the
          Licensed Patents. UNIVERSITY shall cause its patent counsel to provide
          PF with a list of the countries in which it has filed and/or intends
          to file applications. UNIVERSITY agrees to file applications in the
          additional countries requested by PF unless it otherwise notifies PF
          under Paragraph 6.D. PF and UNIVERSITY agree to make any amendments
          necessitated by such decisions to Schedule A in a timely manner. PF
          agrees to cooperate, and agrees to cause its Sublicensees and
          Affiliates of either to cooperate, with UNIVERSITY in the preparation,
          filing, prosecution and maintenance of the Licensed Patents by
          disclosing such information as may be necessary for the same and by
          promptly executing such documents as UNIVERSITY may reasonably request
          in connection therewith. PF and its Sublicensees and Affiliates of
          either shall bear their own costs in connection with their cooperation
          with UNIVERSITY under this Paragraph. UNIVERSITY will provide PF
          copies of all material documents received or prepared by UNIVERSITY in
          the prosecution and maintenance of the Licensed Patents. UNIVERSITY
          shall provide copies in a timely manner to allow PF an opportunity to
          comment and request changes. UNIVERSITY shall reasonably include
          comments of PF in the prosecution of Licensed Patents.

     B.   Patent Costs. PF agrees to pay all necessary and reasonable third
          party fees and expenses incurred by UNIVERSITY in obtaining and
          maintaining the Licensed Patents, including those incurred by
          UNIVERSITY prior to the Effective date of this Agreement. PF shall
          pay, concurrent with the execution of this Agreement, all historical
          patent costs incurred by UNIVERSITY prior to the Effective date of
          this Agreement. Payment for fees and expenses incurred after the
          Effective Date shall be invoiced to PF on a monthly basis and PF
          agrees to pay such invoices within thirty (30) days of receipt. PF
          also agrees upon request by UNIVERSITY to make timely estimated
          advanced payments for the filing of national applications.
          Documentation received from third party vendors to support the amounts
          invoiced shall be included with each invoice. PF shall raise any
          objections to such amounts invoiced within the thirty (30) day time
          period for payment. Invoices for advanced payments shall be reconciled
          with the advance payments made by PF every six (6) months. Any excess
          payment by PF shall be credited to future patent costs specified
          herein. PF will be responsible for the reimbursement until such time
          as UNIVERSITY licenses Licensed Patents to additional third parties
          for each respective patent should the rights granted in Article 3. be
          redefined subject to PF lack of diligence under Article 5. At such
          time when additional licenses are executed, the percent responsibility
          will be adjusted to reflect an equally shared reimbursement
          responsibility among all licensees including previous payments. PF
          will be reimbursed by UNIVERSITY for past payment above the equally
          shared reimbursement responsibility upon UNIVERSITY's receipt of
          historical patent cost payment by any additional licensee. Ongoing
          patent costs will be separately billed to each licensee representing
          an equal patent cost reimbursement responsibility.

                                       13
<PAGE>

     C.   Election not to pay patent costs. If PF decides to no longer support
          patent costs for a specific Licensed Patent listed in Schedule A, or a
          particular jurisdiction for a specific Licensed Patent listed in
          Schedule A, or a particular issued or pending patent application
          claiming priority to a Licensed Patent listed in Schedule A, PF shall
          notify UNIVERSITY in writing. Upon receipt of such notice, the patent
          rights at issue will thereafter be excluded from the license granted
          hereunder, and UNIVERSITY shall be free to license such rights to
          third parties, without any further obligation to PF. PF shall continue
          to reimburse UNIVERSITY for all costs incurred up to the date ninety
          (90) days after the date of receipt of such notice.

     D.   Failure to Pay Patent costs. If PF declines or fails to make advance
          payments or pay or reimburse UNIVERSITY for all or any portion of the
          patent fees and expenses (including maintenance fees) as required by
          Paragraph 6.B. for any Licensed Patent, PF's rights with respect to
          all such applications and patents for which PF fails to make advance
          payments or does not reimburse UNIVERSITY shall terminate effective
          thirty (30) days after written notice from UNIVERSITY requesting such
          payment, unless payment in full is made within such time. Not
          withstanding the foregoing, failure to pay patent costs hereunder is a
          material breach of this Agreement and the UNIVERSITY has the right to
          terminate the Agreement as defined in Article 11.

7.   Warranties; Indemnification, Assumption of Risk; Insurance.

     A.   The UNIVERSITY represents the following:

          1)   the execution, delivery, and performance of this Agreement by
               UNIVERSITY has been duly authorized by all necessary corporate
               action;

          2)   it has the full power and authority to enter into and carry out
               its obligations under this Agreement;

          3)   UNIVERSITY is acquiring the Shares and Additional Shares for its
               own account, for investment and not with a view to, or for resale
               in connection with, any distribution, or public offering thereof
               within the meaning of the Securities Act of 1933, as amended (the
               "Act") and applicable state securities laws;

          4)   UNIVERSITY understands that (A) the Shares and Additional Shares
               (i) have not been registered under the Act or any state
               securities laws, (ii) will be issued in reliance upon an
               exemption from the registration and prospectus delivery
               requirements of the Act pursuant to Section 4(2) and/or
               Regulation D thereof, (iii) will be issued in reliance upon
               exemptions from the registration and prospectus delivery
               requirements of state securities laws which relate to private
               offerings and (iv) must be held by the undersigned indefinitely,
               and (B) UNIVERSITY must therefore bear the economic risk of such
               investment indefinitely unless a subsequent disposition thereof

                                       14
<PAGE>

               is registered under the Act and applicable state securities laws
               or is exempt therefrom. UNIVERSITY further understands that such
               exemptions depend upon, among other things, the bona fide nature
               of the investment intent of the undersigned expressed herein.
               Pursuant to the foregoing, UNIVERSITY acknowledges that the
               certificate representing the Shares and Additional Shares
               acquired by UNIVERSITY shall bear a restrictive legend
               substantially as follows:

                    "The Securities represented by this certificate are subject
                    to restrictions on transfer under the Securities Act of 1933
                    (the "Act"), as amended, and state securities laws, and may
                    not be offered for sale, sold, assigned, transferred,
                    pledged or otherwise disposed of unless (i) registered under
                    the applicable securities laws or (ii) an exemption from
                    registration is available."

          5)   UNIVERSITY is an "accredited investor" within the meaning of Rule
               501 of Regulation D under the Securities Act, as presently in
               effect; and

          6)   UNIVERSITY is relying solely on investigations made by UNIVERSITY
               and its representatives in the acquisition of the Shares and the
               Additional Shares. UNIVERSITY has had an opportunity to discuss
               PF's business, management, financial affairs and prospects with
               its management and the opportunity to review PF's facilities,
               financial statements, public filings and business plan.
               UNIVERSITY has also had an opportunity to ask questions of
               management, which questions were answered to UNIVERSITY's
               satisfaction.

     B.   Disclaimer of Warranties. Other than the representations under Section
          7.A, UNIVERSITY, Argonne National Laboratory, The DOE, and the U.S.
          Government, and/or persons acting on behalf of said, make no
          representations or warranties of any kind, express or implied, with
          respect to the invention(s) claimed in the Licensed Patents or with
          respect to the Licensed Patents themselves, including but not limited
          to, any representations or warranties about (i) the validity, scope or
          enforceability of any of the Licensed Patents; (ii) the invention(s)
          claimed in the Licensed Patents or with respect to the Licensed
          Patents themselves; (iii) whether the practice of any claim contained
          in any of the Licensed Patents will or might infringe a patent or
          other intellectual property right owned or licensed by a third party;
          (iv) the patentability of any invention claimed in the Licensed
          Patents; or (v) the accuracy, safety, or usefulness for any purpose of
          any process made or carried out in accordance with or through the use
          of the Licensed Patents.

     C.   Indemnification. PF agrees to, and will cause any Sublicensee and
          Affiliates of either to, indemnify, defend and hold harmless
          UNIVERSITY, the U.S. Government, and Affiliates of either and all
          trustees, directors, officers, employees, fellows and agents of any of
          the foregoing (each an "Indemnified Person") from and against any and

                                       15
<PAGE>

          all claims, demands, loss, damage, penalty, cost or expense (including
          attorneys' and witnesses' fees and costs) of any kind or nature,
          arising from the development, production, use, sale, license or other
          disposition of Licensed Product(s) and/or Licensed Method(s) by PF,
          its Sublicensees and Affiliates of either, or use of Licensed Patents
          and all activities associated therewith, including clinical trials, or
          any use of information provided by UNIVERSITY to PF. PF agrees, and
          will cause any Sublicensee and Affiliates of either to agree not to
          sue any Indemnified Person in connection with the use and/or
          examination of the Licensed Patents and all activities associated
          therewith. UNIVERSITY shall be entitled to participate at their option
          and expense through counsel of their own selection, and may join in
          any legal actions related to any such claims, demands, losses,
          damages, costs, expenses and penalties. PF shall not and will cause
          its Sublicensees and Affiliates of either, not to enter into any
          settlement affecting any rights or obligations of any Indemnified
          Person or which includes an express or implied admission of liability,
          negligence or wrongdoing by any Indemnified Person, without the prior
          written consent of such Indemnified Person.

     D.   Assumption of Risk. PF assumes the entire risk as to the performance
          safety and efficacy of Licensed Products or any invention claimed in
          the Licensed Patents. Indemnified Persons shall not be responsible or
          liable for any injury, loss, or damage of any kind, including but not
          limited to direct, indirect, special, incidental or consequential
          damages or lost profits to PF or any of the foregoing, or for any such
          injury, loss or damage to any other individual or entity, regardless
          of legal theory based on the use of Licensed Patents and all
          activities associated therewith. The above limitations on liability
          apply even though the Indemnified Person may have been advised of the
          possibility of such injury, loss or damage. PF shall not and will
          cause its Sublicensee's and Affiliates of either not to make any
          agreements, statements, representations or warranties or accept any
          liabilities or responsibilities whatsoever with regard to any person
          or entity, which are inconsistent with this Paragraph.

     E.   Insurance.

          i.   Insurance for Research Application Use. PF shall, and shall cause
               its Sublicensees and Affiliates of either to, for so long as such
               entity manufactures, uses or sells any Licensed Product(s) and/or
               Licensed Method(s) for research applications, maintain in full
               force and effect policies of (a) worker's compensation insurance
               within statutory limits, (b) employers' liability insurance with
               limits of not less than one million dollars ($1,000,000) per
               occurrence and (c) general liability insurance with limits of not
               less than one million dollars ($1,000,000) per occurrence with an
               annual aggregate of two million dollars ($2,000,000). and (d)
               prior to the sale of any products, products liability insurance,
               with limits of not less than one million dollars ($1,000,000))
               per occurrence with an annual aggregate of three million dollars
               ($3,000,000).

                                       16
<PAGE>

          ii.  Insurance for Clinical Applications. If any of PF, its
               Sublicensee or any Affiliates of either manufactures, uses or
               sells any Licensed Product(s) and/or Licensed Method(s) for
               clinical applications, PF shall immediately notify UNIVERSITY in
               writing, and such entity shall maintain in full force and effect
               policies of (a) worker's compensation insurance within statutory
               limits, (b) employers' liability insurance with limits of not
               less than one million dollars ($1,000,000) per occurrence, (c)
               general liability insurance (with Broad Form General Liability
               endorsement) with limits of not less than five million dollars
               ($5,000,000) per occurrence with an annual aggregate of ten
               million dollars ($10,000,000) and (d) products liability
               insurance, with limits of not less than five million dollars
               ($5,000,000) per occurrence with an annual aggregate of twenty
               million dollars ($20,000000). PF's insurance for clinical
               applications shall be reviewed by UNIVERSITY upon the fifth and
               tenth anniversary of the Effective Date of this Agreement. At
               such times the UNIVERSITY may require PF to purchase a tail or
               extended reporting coverage plan and may also require an increase
               in coverage amounts proportional to inflation and the inflation
               of medical liability standards.

          iii. Insurance Policy Requirements. Such coverage(s) shall be
               purchased from a carrier or carriers having an A. M. Best rating
               of at least A- (A minus) and shall name UNIVERSITY as an
               additional insured. PF shall provide to UNIVERSITY copies of
               certificates of insurance within thirty (30) days after execution
               of this Agreement. Such insurance shall be primary and
               noncontributory to any insurance UNIVERSITY and its Affiliates
               may have. At UNIVERSITY's request, PF will supply UNIVERSITY from
               time to time with copies of each such policy, and will notify
               UNIVERSITY in writing at least thirty (30) days prior to any
               termination of or change in coverage under any such policies.

8.   Confidential Information and Publication.

     A.   All information submitted by one Party to the other concerning the
          Licensed Product(s) and/or Licensed Method(s), the invention(s)
          claimed in the Licensed Patents shall be considered as confidential
          ("Confidential Information") and shall be utilized by the receiving
          Party only pursuant to the licenses granted hereunder. During the term
          of this Agreement and for a period of five (5) years thereafter,
          neither Party shall disclose to any third party any Confidential
          Information received from the other Party without the specific written
          consent of such Party. The foregoing shall not apply where
          Confidential Information a) was or becomes public through no fault of
          the receiving Party, b) was, at the time of receipt, already in the
          possession of the receiving Party as evidenced by its written records,
          c) was obtained from a third party legally entitled to use and
          disclose the same, or d) is required by law to be disclosed to a
          governmental agency.

     B.   UNIVERSITY agrees to preserve as confidential any and all trade
          secrets, privileged records or other proprietary information belonging
          to PF, marked as Confidential and disclosed to UNIVERSITY. For
          disclosure of proprietary information belonging to PF by oral
          communication, such disclosure will be reduced to writing, marked as
          Confidential, and sent to UNIVERSITY within two weeks of disclosure to
          UNIVERSITY.

                                       17
<PAGE>

     C.   PF acknowledges the UNIVERSITY's strong institutional policy favoring
          the retention of publication rights and dependence upon publication as
          an essential means of intellectual exchange. UNIVERSITY shall have the
          right to publish the results of and disseminate information to the
          extent that proprietary trade secrets or confidential information
          provided by PF to UNIVERSITY are not disclosed.

9.   Marketing and Advertising.

     A.   The Parties agree not to use the name of the other aforementioned, in
          any commercial activity, press releases, marketing, advertising or
          sales brochures except with the prior written consent of the other
          Party, which consent may be granted or withheld in such Party's sole
          discretion. PF further agrees not to use and shall prohibit its
          Sublicensees and Affiliates of either from using the name of the
          University of Chicago, Argonne National Labs, The DOE, and/or the U.S.
          Government in any commercial activity with out the prior written
          consent of the UNIVERSITY. PF may, upon receiving approval from
          UNIVERSITY, apply such approval to subsequent iterations of the same
          activity provided that the content and presentation of the approved
          material is not changed in terms of scope, scale or purpose. For
          additional clarification by example, it is intended that for approved
          material used in presenting to potential investors of PF the approved
          material may be presented to several investors at different times with
          out need for approval of each presentation.

10.  Infringement.

     A.   Notice of Infringement. In the event of an infringement of a Licensed
          Patent, each Party shall give the other written notice if one of them
          becomes aware of any infringement by a third party of any Licensed
          Patent. Upon notice of any such infringement, the parties shall
          promptly consult with one another with a view toward reaching
          agreement on a course of action to be pursued.

     B.   PF's Right to Bring Infringement Action. If a third party infringes
          any patent included in the Licensed Patents within the Field, PF shall
          have the right to institute and prosecute an action or proceeding to
          abate such infringement and to resolve such matter by settlement or
          otherwise with the permission of UNIVERSITY. PF agrees to notify
          UNIVERSITY of its intention to bring an action or proceeding prior to
          filing the same and in sufficient time to allow UNIVERSITY the
          opportunity to discuss with PF the choice of counsel for such matter.
          PF agrees to hire counsel reasonably acceptable to UNIVERSITY. PF
          shall keep UNIVERSITY timely informed of material developments in the
          prosecution or settlement of such action or proceeding. PF shall be
          responsible for all costs and expenses of any action or proceeding
          against infringers which PF initiates. UNIVERSITY may be represented

                                       18
<PAGE>

          by counsel in any such legal proceedings acting in an advisory but not
          controlling capacity, the expense of which shall be subject to
          reimbursement by PF. UNIVERSITY shall cooperate fully by joining as a
          party plaintiff if required to do so by law to maintain such action or
          proceeding and by executing and making available such documents as PF
          may reasonably request. PF agrees to promptly reimburse UNIVERSITY for
          its reasonable third party out-of-pocket fees and expenses incurred in
          joining an action or proceeding or cooperating with PF. All amounts of
          every kind and nature recovered from an action or proceeding of
          infringement by PF shall belong to PF. After deduction of the fees and
          expenses of both parties to this Agreement, any remaining amounts
          recovered shall be considered Net Sales under this Agreement and
          subject to Royalty payments in accordance with Article 4.

     C.   PF Discretion. The prosecution, settlement, or abandonment of any
          action or proceeding under Paragraph 10.B. shall be at PF's reasonable
          discretion provided that PF has timely informed UNIVERSITY of material
          developments of such action. PF shall not have any right to surrender
          any of UNIVERSITY's rights to the Licensed Patents or to grant any
          infringer any of UNIVERSITY's rights to the Licensed Patents without
          UNIVERSITY's written consent.

     D.   UNIVERSITY's Right to Bring Infringement Action. If a third party
          infringes any patent included in the Licensed Patents within the
          Exclusive Field which UNIVERSITY wishes to prosecute, UNIVERSITY shall
          first notify PF in writing and request that PF bring an action or
          proceeding against the infringing third party. If PF declines or fails
          to bring such an action or proceeding within thirty (30) days of
          receipt of the notice, UNIVERSITY shall have the right, at its sole
          discretion, to institute and prosecute an action or proceeding to
          abate such infringement and to resolve such matter by settlement or
          otherwise. PF shall cooperate fully by joining as a party plaintiff if
          required to do so by law to maintain such action and by executing and
          making available such documents as UNIVERSITY may reasonably request.
          If the amounts recovered by UNIVERSITY exceed its reasonable third
          party fees and expenses, UNIVERSITY agrees to pay PF for its
          reasonable third party expenses incurred by it in cooperating in the
          action or proceeding. Except as specifically provided in this
          Paragraph, UNIVERSITY shall have the right to retain all amounts
          recovered of every kind and nature. Amounts recovered by UNIVERSITY
          shall not be considered Net Sales under this Agreement and shall not
          give rise to Royalty payments. Nothing in this Paragraph shall be
          construed to affect PF's rights under this Agreement to sublicense the
          Licensed Patents provided, however, that once the UNIVERSITY has
          instituted legal proceedings against, or settlement discussions with,
          an alleged infringer under this Paragraph, PF shall not grant a
          sublicense to such alleged infringer without the prior written consent
          of UNIVERSITY.

                                       19
<PAGE>

11.  Termination.

     A.   Unless terminated earlier pursuant to Paragraphs 11.B or 11.C, this
          Agreement shall terminate on the date of expiration of the last to
          expire of the Licensed Patents.

     B.   UNIVERSITY's Right to Terminate. UNIVERSITY shall have the right to
          terminate this Agreement as follows, in addition to all other
          available remedies:

          1)   If PF fails to pay any Royalties, patent costs or other payment
               when due, this Agreement shall terminate effective ninety (90)
               days after UNIVERSITY's written notice to PF to such effect,
               unless PF makes such payment within the ninety (90) days or has
               cured such failure to the satisfaction of the UNIVERSITY.

          2)   If PF fails to comply with any material obligation other than
               Diligence provisions in Paragraph 5E and 5F of this Agreement,
               the UNIVERSITY may at its sole discretion terminate the Agreement
               effective ninety (90) days after UNIVERSITY's written notice to
               PF describing such failure, unless PF cures such failure to the
               satisfaction of UNIVERSITY within the ninety (90) days.

          3)   If PF shall have filed by or against it a petition under any
               bankruptcy or insolvency law and such petition is not dismissed
               within ninety (90) days of its filing, or if PF makes an
               assignment of all or substantially all of its assets for the
               benefit of its creditors UNIVERSITY may terminate this Agreement
               by written notice effective as of the (i) date of filing by PF of
               any such petition, (ii) date of any such assignment to creditors,
               or (iii) end of the ninety (90) days if a petition is filed
               against it and not dismissed by such time, whichever is
               applicable.

          4)   If PF shall be dissolved, liquidated or otherwise ceases to
               exist, other than for reasons specified in this Article 11, this
               Agreement shall automatically terminate as of (i) the date
               articles of dissolution or a similar document is filed on behalf
               of PF with the appropriate government authority or (ii) the date
               of establishment of a liquidating trust or other arrangement for
               the winding up of the affairs of PF.

          5)   Any previous waiver by the UNIVERSITY, of the UNIVERSITY's right
               to terminate this Agreement, shall not constitute a waiver on any
               subsequent right of the UNIVERSITY to terminate under this
               Article 11.

     C.   PF's Right to Terminate. PF may terminate this Agreement at any time
          by giving UNIVERSITY ninety (90) days prior written notice.

     D.   Rights Upon Termination. Other than as provided in Paragraph 11.E.
          below, upon Termination of this Agreement, for any reason, PF shall
          have no further rights to the Licensed Patents. PF agrees to
          immediately cease distribution of any unused Licensed Product(s) and
          shall provide UNIVERSITY with a complete list of all such unused
          Licensed Product(s), ("Inventory) within ten (10) days of termination
          and all such Inventory shall be destroyed within six (6) months after
          termination. PF shall provide UNIVERSITY with written documentation of
          such destruction.

                                       20
<PAGE>

     E.   Survival. (i) All causes of action accruing to either party under this
          Agreement shall survive termination for any reason, as well as (1) PF
          obligation to pay Royalties, fees and other payments accrued prior to
          the date of termination and which were not paid or payable before
          termination, and (2) PF obligation to report Net Sales and to keep
          records as set forth in this Agreement. The milestone obligation of
          Article 4.C.ii and all provisions inclusive from Article 7 to Article
          10 survive termination or expiration of the Agreement. (ii) During the
          six (6) month period following termination of this Agreement, PF may
          sell Inventory by requesting permission, from UNIVERSITY, on a case by
          case basis to sell such Inventory. Such request will be made in
          writing to the address listed in this Agreement. If the UNVERSITY
          grants permission to sell any Inventory, such Sales shall be subject
          to the Royalty obligations under Paragraph 4.E.

12.  Export Regulations.

     A.   To the extent that the United States Export Control Regulations are
          applicable, neither PF nor UNIVERSITY shall, without having first
          fully complied with such regulations, (i) knowingly transfer, directly
          or indirectly, any unpublished technical data obtained or to be
          obtained from the other party hereto to any destination, or (ii)
          knowingly ship, directly or indirectly, any product produced using
          such unpublished technical data to any destination. PF acknowledges
          that the export of any products and/or technical data from the United
          States may require some form of export control license from the U.S.
          Government. Failure to obtain any required export licenses by PF may
          result in PF subjecting itself to criminal liability under U.S. laws.

     B.   U.S. Competitiveness. PF agrees that any Licensed Product(s) and/or
          Licensed Method(s) for use or sale in the United States shall be
          manufactured substantially in the United States.

13.  Entire Agreement, Amendment, Waiver.

     A.   The Agreement together with the Schedules attached hereto constitute
          the entire agreement between the Parties regarding the subject matter
          hereof, and supersedes all prior written or oral agreements or
          understandings (express or implied) between them concerning the same
          subject matter. The Agreement may not be amended or modified except in
          a writing signed by duly authorized representatives of each Party. No
          waiver of any default hereunder by either Party or any failure to
          enforce any rights hereunder shall be deemed to constitute a waiver of
          any subsequent default with respect to the same or any other provision
          hereof.

                                       21
<PAGE>

14.  Notice.

          Any notice required or otherwise made pursuant to this Agreement shall
          be in writing, sent by registered or certified mail properly
          addressed, or by facsimile with confirmed answer-back, to the other
          Party at the address set forth below or at such other address as may
          be designated by written notice to the other Party. Notice shall be
          deemed effective three (3) business days following the date of sending
          such notice if by mail, on the day following deposit with an overnight
          courier, if sent by overnight courier, or upon confirmed answer-back
          if by facsimile.

          If to UNIVERSITY:                     If to PharmaFrontiers Corp.:

          Office of Technology &                David B. McWilliams, President
           Intellectual Property                2408 Timberloch Place, Suite B7
          5555 S. Woodlawn, Suite 300           The Woodlands, Texas 77380
          Chicago, IL 60637  USA
          Attention: Director

15.  Assignment. This Agreement shall be binding on the Parties hereto and upon
     their respective successors and assigns. Notwithstanding Section 3.A.,
     either Party may at any time, upon written notice to the other party,
     assign or delegate to a successor to all or substantially all of its
     business any of its rights and obligations hereunder, provided that any
     such assignment or delegation shall in no event relieve either Party of its
     primary responsibility for the same. Except as provided in the preceding
     sentence, and except as provided in Paragraph 11.B.3, PF may not assign
     this Agreement without the prior written consent of UNIVERSITY, which
     consent shall not be unreasonably withheld, and any attempted assignment in
     violation thereof shall be void. UNIVERSITY may assign this Agreement at
     any time to any third party on written notice to PF. In such event, the
     assignee shall be substituted for UNIVERSITY as a party hereto, and
     UNIVERSITY shall no longer be bound hereby.

16.  Governing Law. To the extent there is no applicable federal law, the
     interpretation and performance of this Agreement shall be governed by the
     laws of the State of Illinois applicable to contracts made and to be fully
     performed in that state.

17.  Force Majeure. Except for the obligation to pay, the parties shall not be
     liable for any failure to perform or observe any term of this Agreement if
     performance or observance has been delayed, hindered, restricted or
     prevented by any circumstance not within the direct control of the parties,
     including without limitation, Acts of God, strikes, lock-outs, war,
     hostilities or the threat thereof, or compliance with any valid order of
     any governmental or public authority, and the time or times for
     performances of the obligations on the respective parties parts to be
     performed herein shall be extended by a period equal to each such period of
     delay provided that such party shall immediately give notice to the other
     party in accordance with the provisions of this Agreement and shall
     endeavor to remove or remedy the cause thereof with all due diligence and
     expedition. "Force Majeure" shall not include financial hardship or a lack
     of funds to make payment.

                                       22
<PAGE>

18.  Counterparts. This Agreement may be executed in several counterparts, each
     of which shall be deemed an original and all of which together shall
     constitute one and the same document.

     IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be
executed by their respective duly authorized officers or representatives and
signed below,

University of Chicago                          PharmaFrontiers Corp.

By: /s/ Alan Thomas                            By: /s/ David B. McWilliams
    ------------------------------------           -----------------------------
Name: Alan Thomas                              Name: David B. McWilliams
Title: Director of Technology Transfer         Title: Chief Executive Officer
Date:  12/30/04                                Date:  12/30/04
      ----------------------------------             ---------------------------

                                       23
<PAGE>

                                   Schedule A

UCTech Case # ANL-IN-02-021

US Patent application - 10/704,110, title "Human stem cell materials and
 methods"

PCT application - US03/35538

UCTech Case # ANL-IN-04-010

US Patent application -  title "Human Stem Cell Materials and Methods."

                                       24
<PAGE>

                                   Schedule B

                                       25
<PAGE>

                                   Schedule C

                   PharmaFrontiers Corp. Capitalization Table

                                       26Exhibit 4.13

                          CERTIFICATE OF DESIGNATIONS

              CERTIFICATE OF DESIGNATIONS, PREFERENCES AND RIGHTS
                                       OF
                      SERIES A CONVERTIBLE PREFERRED STOCK
                OF BRIGHTSTAR INFORMATION TECHNOLOGY GROUP, INC.

     BRIGHTSTAR INFORMATION TECHNOLOGY GROUP, INC. (the "Company"), a company
organized and existing under the General Corporation Law of the State of
Delaware, does hereby certify, that pursuant to authority conferred upon the
Board of Directors of the Company by the Certificate of Incoporation, as
amended, of the Company, and pursuant to Section 151 of the General Corporation
Law of the State of Delaware, the Board of Directors of the Company at a meeting
duly held, adopted resolutions (i) authorizing a series of the Company's
previously authorized preferred stock, par value $.001 per share, and (ii)
providing for the designations, preferences and relative participating, optional
or other rights, and the qualifications. limitations or restrictions, thereof,
of One Hundred Thirty-Six Thousand Five Hundred Eighty-Five (136,585) shares of
Series A Convertible Preferred Stock of the Company as follows:

     RESOLVED, that the Company is authorized to issued One Hundred Thirty-Six
Thousand Five Hundred Eight-Five (136,585) shares of Series A Convertible
Preferred Stock (the "Series A"), par value $.001 per share, which shall have
the following powers, designations, preferences and other special rights:

     1. No Dividends. The holders of the outstanding shares of Series A shall
not be entitled to receive dividends.

     2. Liquidation Preference:

     (a) In the event of any liquidation, dissolution or winding up of this
company, either voluntary or involuntary, the holders of Series A shall be
entitled to receive, prior and in preference to any distribution of any of the
assets of this Company to the holders of Common Stock by reason of their
ownership thereof, for the Series A, an amount of $1.00 (the "Original Series A
Issue Price") for each outstanding share of Series A. If upon the occurrence of
such event, the assets and funds thus distributed a month the holders of the
Series A shall be insufficient to permit the payment to such holders of the full
aforesaid preferential amounts, then the entire assets and funds of this Company
legally available for distribution to stockholders shall be distributed ratably
among the holders of the Series A in proportion to the full preferential amount
each such holder is otherwise entitled to receive under this Section 2(a).

     (b) For purposes of Section 2(a), a liquidation, dissolution or winding up
of this Company shall be deemed to included (unless the holders of at least a
majority of the voting power of the Series A then outstanding, voting together
as a single class shall determine otherwise), (i) the acquisition of this
Company by another entity by means of any reorganization, merger or
consolidation (but excluding any reorganization, merger or consolidation
effected exclusively for the purpose of changing the domicile of the Company),
or any transaction or series of related transactions in which the Company's
stockholders of record as constituted immediately prior to such transaction or
series of related transactions will, immediately after such transaction or
series of related transactions (by virtue of securities issued in such
transaction or series of related transactions) fail to hold at least 50% of the
voting power of the resulting or surviving Company following such transaction or
series of related transactions; or (ii) a sale of all or substantially all of
the assets of this Company.

<PAGE>

     (c) This Company shall give each holder of record of Series A written
notice of such impending transaction not later than twenty (20) days prior to
the stockholders' meeting called to approve such transaction, or twenty (20)
days prior to the closing of such transaction, whichever is earlier, and shall
also notify such holders in writing of the final approval of such transaction.
The first of such notices shall describe the material terms and conditions of
the impending transaction and the provisions of this Section 2, and this Company
shall thereafter give such holders prompt notice of any material changes. The
transaction shall in no event take place sooner than twenty (20) days after this
Company has given the first notice provided for herein or sooner than ten (10)
days after this Company has given notice of any material changes provided for
herein; provided, however, that such periods may be shortened upon the written
consent of the holders of Series A that are entitled to such notice rights or
similar notice rights and that represent at least a majority of the voting power
of all then outstanding shares of Series A.

     3. Redemption. Neither the Company nor the holders of Series A shall have
the unilateral right to call or redeem or cause to have called or redeemed any
shares of the Series A.

     4. Conversion at Option of the Holder. The holders of the Series A shall
have conversion rights as follows (the "Conversion Rights"):

     (a) Right to Convert. Each share of Series A shall be convertible, at the
option of the holder thereof, at any time after the date of issuance of such
Share, but only to the extent that there shall be authorized a sufficient number
of shares of the Company's Common Stock, par value, $.001 per share ("Common
Stock") to issue to the holder upon such conversion, at the office of this
Company or any transfer agent for such stock, into such number of fully paid and
nonaccessible shares of Common Stock as is determined by dividing the Original
Series A Issue Price by the Conversion Price in effect on the date the
certificate is surrendered for conversion. The initial Conversion Price shall be
equal to $.000282922; provided, however, that the Conversion Price shall be
subject to adjustment as set forth in Section 4(c).

                                      -2-
<PAGE>

     (b) Mechanics of Conversion. Before any holder of Series A shall be
entitled to convert the same into shares of Common Stock, the holder shall
surrender the certificate or certificates therefor, duly endorsed, at the office
of this Company or of any transfer agent for the Series A, and shall give
written notice to this Company at its principal corporate office, of the
election to convert the same and shall state therein the name or names in which
the certificate or certificates for shares of Common Stock are to be issued.
This Company shall, as soon as practicable thereafter, issue and deliver at such
office to such holder of Series A, or to the nominee or nominees of such holder,
a certificate or certificates for the number of share shares of Common Stock, to
which such holder shall be entitled as aforesaid. Such conversion shall be
deemed to have been made immediately prior to the close of business on the date
of such surrender of the shares of Series A to be converted, and the person or
person entitled to receive the shares of Common Stock issuable upon such
conversion shall be treated for all purposes as the record holder or holders of
such shares of Common Stock as of such date.

     (c) Conversion Price Adjustments of Series A. The Conversion Price of the
Series A shall be subject to adjustment from time to time as follows:

     (i) In the event this Company should be at any time or from time to time
after the applicable Purchase Date fix a record date for the effectuation of a
split or subdivision of the outstanding shares of Common Stock or the
determination of holders of Common Stock entitled to receive a dividend or other
distribution payable in additional shares of Common Stock or other securities or
rights convertible into, or entitling the holder thereof to receive directly or
indirectly, additional shares of Common Stock (hereinafter referred to as
"Common Stock Equivalents") without payment of any consideration by such holder
for the additional shares of Common Stock or the Common Stock Equivalents
(including the additional shares of Common Stock issuable upon conversion or
exercise thereof), then, as such record date (or the date of such dividend
distribution, split or subdivision if no record date is fixed), the Conversion
Price of the Series A shall be appropriately decreased so that the number of
shares of Common Stock issuable on conversion of each share of such series shall
be increased in proportion to such increase in the aggregate number of shares of
Common Stock outstanding and those issuable with respect to such Common Stock
Equivalents.

     (ii) If the number of shares of Common Stock outstanding at any time after
the applicable Purchase Date is decreased by a reverse stock split or
combination of the outstanding shares of Common Stock, then, following the
record date of such reverse stock split or combination, the Conversion Price for
the Series A shall be appropriately increased so that the number of shares of
Common Stock issuable on conversion of each share of such series shall be
decreased in proportion to such decrease in outstanding shares.

     (iii) In the event this Company shall declare a distribution payable in
securities of other person, evidences of indebtedness issued by this company or
other persons, assets (excluding cash dividends) or options or rights, then, in
each such case for the purpose of this Section 4(c), the holders of each series
A shall be entitled to a proportionate share of any such distribution as though
they were the holders of the number of shares of Common Stock of this Company
into which their shares of Series A are convertible as of the record date fixed
for the determination of the holders of Common Stock of this Company entitled to
receive such distribution.

                                      -3-
<PAGE>

     (iv) If at any time or from time to time there shall be a recapitalization
of the Common Stock (other than a subdivision or combination transaction
provided for elsewhere in this Section 4(c)), provision shall be made so that
the holders of the Series A shall thereafter be entitled to receive upon
conversion of such shares of Series A the number of shares of stock or other
securities or property of this Company or otherwise, to which a holder of the
number of shares of Common Stock deliverable upon conversion of the Series A
held by such holder would have been entitled on such recapitalization. In any
such case, appropriate adjustment shall be made in the application of the
provisions of this Section 4 with respect to the rights of the holders of each
series of Series A after the recapitalization to the end of that the provisions
of this Section 4 (including adjustment of the Conversion Price then in effect
and the number of shares purchasable upon conversion of Series A) shall be
applicable after that event as nearly equivalent as may be practicable.

     (d) No Impairment. This Company will not, by amendment of this Certificate
of Designation or the Certificate of Incoporation of the Company or through any
reorganization, recapitalization, transfer of assets, consolidation, merger,
dissolution, issue or sale of securities or any other voluntary action, avoid or
seek to avoid the observance or performance of any of the terms to be observed
or performed hereunder by this Company, but will at all times in good faith
assist in the carrying out of all the provisions of this Section 4 and in the
taking of all such action as may be necessary or appropriate in order to protect
the Conversion Rights of the holders of Series A against impairment.

     (e) No Fractional Shares and Certificate as to Adjustments.

     (i) No fractional shares shall be issued upon the conversion of any share
or shares of Series A. In lieu of any fractional shares to which the holder
would otherwise be entitled, the Company shall pay cash equal to such fraction
multiplied by the then fair market value of a share of Common Stock as
determined in good faith by the Board of Directors. The number of shares of
Common Stock to be issued upon such conversion shall be determined on the basis
of the total number of shares of Series A the holder is at the time converting
into Common Stock and the number of shares of Common Stock issuable upon such
aggregate conversion.

     (ii) Upon the occurrence of each adjustment or readjustment of the
Conversion Price of any series of Series A pursuant to this Section 4, this
Company, at its expense, shall promptly compute such adjustment or readjustment
in accordance with the terms hereof and prepare and furnish to each holder of
Series A a certificate setting forth such adjustment or readjustment and showing
in detail the facts upon which such adjustment or readjustment is based. This
Company shall, upon the written request of any time of any holder of Series A,
furnish or cause to be furnished to such holder a like certificate setting forth
(A) such adjustment and readjustment, (B) the Conversion Price at the time in
effect, and (C) the number of shares of Common Stock and the amount, if any, of
other property that at the time would be received upon the conversion of a share
of Series A.

     (f) Notices of Record Date. In the event of any taking by this Company of a
record of the holders of any class of securities for the purpose of determining
the holders thereof who are  entitled to receive any dividend (other than a cash
dividend) or other distribution, any right to subscribe for, purchase or
otherwise acquire any shares of stock of any class or any other securities or
property, or to receive any other right, this Company shall mail to each holder
of Series A, at least twenty (20) days prior to the date specified therein, a
notice specifying the date on which any such record is to be taken for the
purpose of such dividend, distribution or right, and the amount and character of
such dividend, distribution or right.

                                      -4-
<PAGE>

     (g) Authorization of Additional Common Stock Issuable Upon Conversion. This
Company shall use its best efforts to take all required actions to hold a
meeting of stockholders on or prior to June 30, 2005 to consider and approve an
amendment of the Certificate of Incorporation of the company to change the
number of authorized shares of the Company's Common Stock (whether by reverse
stock split or increase in the number of authorized shares or a combination of
the foregoing) such that there shall be sufficient number of shares of Common
Stock to effect the conversion of all outstanding shares of Series A, such
number of its shares of Common Stock as shall from time to time be sufficient to
effect the conversion of all outstanding shares of Series A; and if at any time
the number of authorized, but unissued shares of Common Stock, solely for the
purpose of effecting the conversion of the shares of Series A, such number of
its shares of Common Stock as shall from time to time be sufficient to effect
the conversion of all outstanding shares of Series A; and if at any time the
number of authorized, but unissued shares of Common Stock shall not be
sufficient to effect the conversion of all then outstanding shares of Series A,
in addition to such other remedies as shall be available to the holder of such
Series A, this Company will take such corporate action as may, in the opinion of
its counsel, be necessary to increase its authorized, but unissued shares of
Common Stock to such number of shares as shall be sufficient for such purposes,
including, without limitation, engaging it best efforts to obtain the requisite
stockholder approval of any necessary amendment to the Company's Certificate of
Incorporation.

     5. Voting Rights and Election of Series A Director in Certain
Circumstances; Board Observer Rights.

     (a) Multiple votes. The holders of Series A shall have the right to such
number of votes per Share of Series A as shall equal to the number of share of
Common STock which shall then be issuable upon conversion of such Share, and
shall be entitled to vote, together with holders of Common Stock as a single
class, with respect to any matter upon which holders of Common Stock have the
right to vote. Such holders shall be entitled, notwithstanding any provision
hereof, to notice any stockholders' meeting in accordance with the Bylaws of
this Company.

     (b) Certain Approval Rights. So long as any Share of Series A are
outstanding, this Company shall not be without first obtaining the approval (by
vote or written consent, as provided by law) of the holders of at least
two-thirds of the then outstanding shares of Series A voting separately as a
single class, (i) alter or change, whether by amendment of the Certificate of
Incorporation of the company, merger, consolidation or otherwise, the rights,
preference or privileges of the Series A or the Common Stock so as to affect
adversely such shares of Series A; or (ii) directly, or through any direct or
indirect subsidiary of the Company issue any preferred stock or securities
convertible into any equity securities of the Company.

     (c) No Other Preferred Stock. So long as any Shares of Series A are
outstanding, this Company shall not without first obtaining the approval (by
vote or written consent, as provided by law) of the holders of at least two
thirds of the then outstanding shares of Series A voting separately as a single
class, issue any shares of any other series of Preferred Stock.

                                      -5-
<PAGE>

     6. Limitations Upon Disposition. The Series A Shares issuable pursuant to
this Certificate and the shares of Common Stock issuable upon conversion of such
Series A Shares (collectively the "Securities"), if not registered by the
Company under the Securities Act of 1933, as amended (the "Act"), may not be
sold or offered for sale in the absence of an effective registration statement
as to the Securities under the Act, or an opinion of counsel satisfactory to the
Company that such registration statement is not required. The above restrictions
in this Section 6 shall be contained in a legend to be placed upon each of the
Series A Share certificates at the time of distribution of the Securities and a
stop transfer order may be placed on such Securities by the Company. In
addition, each Series A certificate shall bear the following legend:

     ANY TRANSFEREE OF THIS CERTIFICATE SHOULD CAREFULLY REVIEW THE TERMS OF
     THE COMPANY'S CERTIFICATE OF DESIGNATIONS, PREFERENCES AND RIGHTS OF
     THE PREFERRED SHARES REPRESENTED BY THIS CERTIFICATE.

     7. Replacement. Upon receipt of the Company of evidence reasonably
satisfactory to it of the ownership of and the loss, theft, destruction or
mutilation of any certificate evidencing one or more shares of Series A and in
the case of loss, theft or destruction, of any indeminifcation undertaking by
the holder to the Company in customary form and, in the case of mutilation, upon
surrender and cancellation of such certificate, the Company at its expense will
execute and deliver in lieu of such certificate, a new certificate of like kind,
representing the number of shares of Series A which shall have been represented
by such lost, stolen, destroyed or mutilated certificate.

     8. Notices. Whenever notice is required to be given pursuant to this
Certificate of Designations, unless otherwise provided herein, such notice shall
be given at the address then set forth in the Company's records.

     IN WITNESS WHEREOF, the Company has caused this Certificate of Designations
to be signed by Joseph A. Wagda, its Chief Executive Officer, as of ___ day of
April, 2005.

                             BRIGHTSTAR INFORMATION TECHNOLOGY GROUP, INC.

                                        By: /s/ Joseph A. Wagda
                                            ------------------------
                                            Name:  Joseph A. Wagda
                                            Title: Chief Executive Officer

                                      -6-

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