Document:

Exhibit 4.4

 

THIS WARRANT AND THE APPLICABLE SHARES
ISSUABLE UPON EXERCISE THEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND
MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR, IN THE
OPINION OF COUNSEL SATISFACTORY TO THE ISSUER OF THESE SHARES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION OTHERWISE
COMPLIES WITH THE ACT.

 

ENTERA BIO LTD. 

 

WARRANT TO PURCHASE SHARES OF ENTERA
BIO

 

For value received and subject to the provisions set forth in
this warrant (this “Warrant”), _______ (the “Holder”) and its assignees are entitled to purchase
from Entera Bio Ltd., an Israeli Company (the “Company”):

 

	
        Type of Shares:

         
	
        Applicable Securities.

         

	
        Exercise Price:

         
	To be calculated as set forth in Section 2 below.
	Number of Shares	
        To be calculated as set forth in Section
        2 below.

         

	Term of Warrant: 	
        Four (4) years from the warrant date.

         

	Warrant Date: 	June __, 2016.

 

The number of Shares for which this Warrant
is exercisable and the Exercise Price may be adjusted as specified in Section 6.

 

1.           Definitions.
As used herein, capitalized terms not otherwise defined herein shall have the meanings set forth in the introductory paragraph
of this Warrant or the following meanings:

 

a.       “Applicable
Securities” shall have the meaning set forth in Section 2 below.

 

b.       “Change
of Control” shall mean any (i) acquisition of the Company by another entity by means of any transaction or series of
related transactions (including, without limitation, any share acquisition, reorganization, merger or consolidation) other than
a transaction or series of transactions in which the holders of the voting shares of the Company outstanding immediately prior
to such transaction continue to retain (either by such voting shares remaining outstanding or by such voting shares being converted
into voting shares of the surviving entity), as a result of shares in the Company held by such holders prior to such transactions,
in substantially the same proportions, at least fifty percent (50%) of the total voting power represented by the voting shares
of the Company or such surviving entity outstanding immediately after such transaction or series of transactions, or (ii) sale,
lease or other conveyance of all substantially all of the assets of the Company.

 

c.       “Ordinary
Shares” means the Ordinary Shares of the Company, each having a nominal value of NIS 0.01.

 

    	 

     

    

d.       “Exercise
Price” means (x) in the event of a Triggering Event, 100% of the applicable price per share of the Applicable Securities
in the Triggering Event (which shall be calculated without reference to the Discount, as such term is defined in the Note) and
(y) in the event of a Voluntary Conversion, 100% of the applicable price per share of the securities acquired pursuant to such
conversion.

 

e.       “Holder”
means the initial holder of this Warrant set forth in the first paragraph of this Warrant and any other person or entity which
becomes a holder of this Warrant pursuant to the terms of this Warrant.

 

f.       “Note”
means the Convertible Promissory Note and Loan Agreement, dated as of the date hereof, by and among the Company, the Holders and
the other lenders thereto.

 

g.       “Qualified
Financing” means a private placement of equity securities of the Company, or securities convertible into equity securities
of the Company, in an aggregate amount of no less than $10.0 million, not including issuances of such securities, the conversion
of such securities, or private placements, in any such case pursuant to agreements in effect on the date hereof.

 

h.       “QIPO”
has the meaning ascribed to such term in the Note.

 

i.       “Shares”
means the Applicable Securities of the Company issuable upon exercise of this Warrant.

 

j.       “Triggering
Event” means the consummation of the first to occur of a Change of Control, Qualified Financing or QIPO, occurring following
the date of this Warrant.

 

k.       “Voluntary
Conversion” has the meaning ascribed to such term in the Note.

 

l.       “Warrant
Date” means the date of this Warrant specified in the introductory paragraph of this Warrant.

 

2.           Applicable
Securities; Number of Applicable Securities; Exercise Price. This Warrant may be exercised for up to that number of the
equity securities (including, upon issuance of more than 25% warrant coverage upon the Triggering Event, any warrants exercisable
for equity securities) issued or sold in the Triggering Event or Voluntary Conversion (the “Applicable Securities”)
equal to forty percent (40%) of the Applicable Securities issued or sold to the Holder upon conversion of the Note in such Triggering
Event or Voluntary Conversion (both as set forth in Section 4 of the Note), at the Exercise Price, subject in all cases to adjustment
as set forth below (such exercise price, the “Exercise Price”). The Holder shall be entitled to identical rights,
preferences and privileges with respect to the Shares as all other holders of Applicable Securities, including without limitation,
registration rights relating to the Shares.

 

In the event of exercise
following a QIPO, in lieu of payment to the Company as set forth in the preceding paragraph, the Holder may convert this Warrant
in whole or in part, into the number of Shares calculated pursuant to the following formula, by surrendering this Warrant to the
Company at the principal office of the Company, accompanied by a written notice of exercise, specifying the number of Shares into
which the Holder desires to convert this Warrant:

 

    	 

     

    

Y(A ־B)

 

X = _____________________________

 

A

 

Where:

X = the number of Shares to be
issued to the Holder; 

Y = the number of Shares which
would otherwise have been obtainable upon conversion of this Warrant; 

A = the fair market value of the
Applicable Securities; and 

B
= the Exercise Price.

 

3.           Term.
The right to purchase Applicable Securities upon exercise hereof is exercisable simultaneously with, and at any time and from
time to time following, the consummation of a Triggering Event or Voluntary Conversion, until the end of the Term of Warrant specified
in the introductory paragraph of this Warrant.

 

4.           Payment
and Exercise. The purchase right represented by this Warrant may be exercised by the Holder during the term set forth in
Section 3 hereof, in whole or in part and from time to time, at the election of the Holder, by the surrender of this Warrant (with
the notice of exercise substantially in the form attached hereto as Exhibit A duly completed and executed) at the principal
office of the Company and by the payment to the Company, by check, or by wire transfer to an account designated by the Company
of an amount equal to the then applicable Exercise Price multiplied by the number of Shares then being purchased.

 

The person or persons
in whose name(s) any certificate(s) representing Applicable Securities shall be issuable upon exercise of this Warrant shall be
deemed to have become the holder(s) of record of, and shall be treated for all purposes as the record holder(s) of, the Shares
represented thereby (and such Shares shall be deemed to have been issued) immediately prior to the close of business on the date
or dates upon which this Warrant is exercised. In the event of any exercise of the rights represented by this Warrant, certificates
for the Shares so purchased shall be delivered to the Holder as soon as possible and in any event within thirty (30) days after
such exercise and, unless this Warrant has been fully exercised or expired, a new Warrant representing the portion of the Shares,
if any, with respect to which this Warrant shall not then have been exercised shall also be issued to the Holder as soon as possible
and in any event within such thirty-day period; provided, however, that at such time as the Company is subject to the reporting
requirements of the Securities Exchange Act of 1934, as amended, if requested in writing by the Holder, the Company shall cause
its transfer agent to deliver the certificate representing Shares issued upon exercise of this Warrant to a broker or other person
(as directed by the Holder exercising this Warrant) within the time period required to settle any trade made by the Holder after
exercise of this Warrant.

 

5.           Shares
Fully Paid; Reservation of Shares. All Shares that may be issued upon the exercise of the rights represented by this Warrant
will, upon issuance pursuant to the terms and conditions herein, be fully paid and nonassessable, and free from all preemptive
rights and taxes, liens and charges with respect to the issuance thereof. During the period within which the rights represented
by this Warrant may be exercised, the Company will at all times have authorized, and reserved for the purpose of the issue upon
exercise of the purchase rights evidenced by this Warrant, a sufficient number of Applicable Securities or

 

    	 

     

    

securities acquirable upon conversion of
such Applicable Securities to provide for the exercise of the rights represented by this Warrant and, in the event that the Applicable
Securities are preferred shares, a sufficient number of Ordinary Shares to provide for the conversion of the Applicable Securities
into Ordinary Shares.

 

6.           Adjustment
of Exercise Price and Number of Shares. Following a Triggering Event or Voluntary Conversion, the number and kind of shares
purchasable upon the exercise of this Warrant and the Exercise Price shall be subject to adjustment from time to time upon the
occurrence of certain events, as follows:

 

a.       Change
of Control. In case of any Change of Control, the Company, or such successor or purchasing corporation, as the case may be,
shall make appropriate provision, so that the Holder shall receive upon exercise of this Warrant at a total purchase price not
to exceed that payable upon the exercise of the unexercised portion of this Warrant, and in lieu of the Applicable Securities theretofore
issuable upon exercise of this Warrant, the kind and amount of shares, other securities, money and property receivable upon such
Change of Control by a holder of the number of Applicable Securities then purchasable under this Warrant.

 

b.       Reclassifications
or Reorganizations. Following a Triggering Event or Voluntary Conversion, in case of any reclassification, capitalization reorganization
or change of securities of the class issuable upon exercise of this Warrant (other than a change in par value, or from par value
to no par value, or from no par value to par value, or as a result of a subdivision or combination), the Company shall duly execute
and deliver to the Holder a new Warrant (in a form substantially similar to this Warrant), or the Company shall make appropriate
provision without the issuance of a new Warrant, so that the Holder shall have the right to receive upon exercise of this Warrant,
at a total purchase price not to exceed that payable upon the exercise of the unexercised portion of this Warrant, and in lieu
of the Applicable Securities theretofore issuable upon exercise of this Warrant, the kind and amount of shares, other securities,
and property receivable upon such reclassification, reorganization or change by a holder of the number of Applicable Securities
then purchasable under this Warrant. The provisions of this Section 6.‎b
shall similarly apply to successive reclassifications, reorganizations and changes.

 

c.       Subdivision,
Shares Dividend or Combination of Shares. If the Company at any time while this Warrant remains outstanding and unexpired shall
subdivide, distribute a dividend payable in Applicable Securities or cash or combine its outstanding Applicable Securities, the
Exercise Price shall be proportionately decreased and the number of Shares issuable hereunder shall be proportionately increased
in the case of a subdivision, share dividend or cash dividend and the Exercise Price shall be proportionately increased and the
number of Shares issuable hereunder shall be proportionately decreased in the case of a combination.

 

d.       Adjustment
of Number of Shares. Upon each adjustment in the Exercise Price, the number of Applicable Securities purchasable hereunder
shall be adjusted, to the nearest whole share, to the product obtained by multiplying the number of Shares purchasable immediately
prior to such adjustment in the Exercise Price by a fraction, the numerator of which shall be the Exercise Price immediately prior
to such adjustment and the denominator of which shall be the Exercise Price immediately thereafter.

 

e.       Antidilution
Rights. The other antidilution rights applicable to the Applicable Securities purchasable hereunder, if any, shall be set forth
in the Company’s Amended and Restated Articles of Association, as may be amended through the Term of the Warrant, a true
and complete copy of which (in their form as of the Warrant Date) is attached hereto as Exhibit B (as the same may be amended
from time to time, the “Articles”). The Company shall promptly provide the Holder with any restatement,

 

    	 

     

    

amendment, modification or
waiver of the Articles promptly after the same has been made.

 

7.           Notice
of Adjustments. Whenever the Exercise Price or the number of Shares purchasable hereunder shall be adjusted pursuant to
Section 6 hereof, the Company shall make a certificate signed by its chief financial officer
setting forth, in reasonable detail, the event requiring the adjustment, the amount of the adjustment, the method by which such
adjustment was calculated, and the Exercise Price and the number of Shares purchasable hereunder after giving effect to such adjustment,
and shall cause copies of such certificate to be delivered to the Holder. In addition, whenever the conversion price or conversion
ratio of the Applicable Securities shall be adjusted, the Company shall make a certificate signed by its chief financial officer
setting forth, in reasonable detail, the event requiring the adjustment, the amount of the adjustment, the method by which such
adjustment was calculated, and the conversion price or ratio of the Applicable Securities after giving effect to such adjustment,
and shall cause copies of such certificate to be delivered to the Holder. 

 

8.           Fractional
Shares. No fractional Applicable Securities will be issued in connection with any exercise hereunder, but in lieu of such
fractional shares the Company shall round up or down to the nearest whole number of shares (in the event any such fraction is equal
to one-half (1/2), the Company shall round up to the nearest whole number) and issue such whole number of Shares.

 

9.           Rights
as Shareholders; Information. Without derogating from Section 6 above, no Holder,
as a holder of this Warrant, shall be entitled to vote or receive dividends or be deemed the holder of Applicable Securities or
any other securities of the Company which may at any time be issuable upon the exercise hereof for any purpose, nor shall anything
contained herein be construed to confer upon the Holder, as such, any of the rights of a shareholder of the Company or any right
to vote for the election of directors or upon any matter submitted to shareholders at any meeting thereof, or to receive dividends
or subscription rights or otherwise until this Warrant shall have been exercised and the Shares purchasable upon the exercise hereof
shall have become deliverable, as provided herein. Notwithstanding the foregoing, following the Triggering Event or Voluntary
Conversion, the Company will transmit to the Holder such information, documents and reports as
are generally distributed to the holders of any class or series of the securities of the Company concurrently with the distribution
thereof to the holders of the Applicable Securities except if such information, documents and reports are otherwise publicly filed
or made publicly available by the Company. 

 

10.          Notice
Rights.

 

a.       Triggering
Event. The Company shall provide the Holder with at least ten (10) days’ written notice prior to the consummation of
the Triggering Event.

 

b.       Dividends
and Repurchases. The Company shall provide the Holder with at least fourteen (14) days written notice prior to the record date
of any cash dividend with respect to or offer to repurchase the Applicable Securities.

 

c.       Liquidation.
The Company shall provide the Holder with at least fourteen (14) days written notice prior to any voluntary or involuntary dissolutions,
liquidation or winding-up of the Company.

 

11.          Representations,
Warranties and Covenants. The Company represents, warrants and covenants to the Holder as follows:

 

a.       This
Warrant has been duly authorized and executed by the Company and is a valid and binding obligation of the Company enforceable in
accordance with its terms.

 

    	 

     

    

b.       As
of and following the Triggering Event or Voluntary Conversion, the Shares will be duly authorized
and reserved for issuance by the Company and, when issued in accordance with the terms hereof, will be validly issued, fully paid
and nonassessable and free from preemptive rights. 

 

c.       As
of and following the Triggering Event or Voluntary Conversion, the rights, preferences,
privileges and restrictions granted to or imposed upon the Applicable Securities and the holders thereof will be as set forth in
the Articles. 

 

d.       As
of and following the Triggering Event or Voluntary Conversion, the Ordinary Shares issuable
upon conversion of the Shares will be duly authorized and reserved for issuance by the Company and, when issued in accordance with
the terms of the Articles will be validly issued, fully paid and nonassessable. 

 

e.       The
execution and delivery of this Warrant are not, and the issuance of the Shares upon exercise of this Warrant in accordance with
the terms hereof will not be, inconsistent with the Articles, do not and will not contravene any law, governmental rule or regulation,
judgment or order applicable to the Company, and do not and will not conflict with or contravene any provision of, or constitute
a default under, any indenture, mortgage, contract or other instrument of which the Company is a party or by which it is bound
or require the consent or approval of, the giving of notice to, the registration or filing with or the taking of any action in
respect of or by, any government authority or agency or other person, except for the filing of notices pursuant to applicable securities
laws, which filings will be effected by the time required thereby.

 

12.          Restrictions
on Transfer. By acceptance of this Warrant, the Holder hereby agrees that (i) until the consummation of the Company's QIPO,
the Holder will not sell, offer for sale, pledge, hypothecate or otherwise transfer ("Transfer") this Warrant
except to a Permitted Transferee (as such term is defined in Article 19 of the Articles) and (ii) upon and following the consummation
of a QIPO, absent an effective registration statement filed with the Securities and Exchange Commission under the Act covering
the disposition or sale of this Warrant or the Shares issued or issuable upon exercise hereof, as the case may be, and registration
or qualification under applicable state securities laws, the Holder will not Transfer any or all this Warrant or the Shares, as
the case may be, unless such transfer is exempt from the registration requirements of the Act and any applicable state securities
laws, and in such event the Company may require an opinion of counsel, in form and substance reasonably satisfactory to the Company,
to the effect that such registration is not required in connection with such transfer. In the event
of any Transfer in compliance with the terms and conditions of this Section 12, the Holder may Transfer this Warrant, in whole
or in part, upon surrender of this Warrant properly endorsed and delivery of a Form of Assignment in substantially the form attached
hereto as Exhibit C duly executed by the Holder and upon payment of any necessary transfer tax or other governmental charge
imposed upon such transfer, if any.

 

13.          Compliance
with Securities Laws. By acceptance of this Warrant, the Holder hereby represents, warrants and covenants that any securities
purchased upon exercise of this Warrant or acquired upon conversion thereof shall be acquired for investment only and not with
a view to, or for sale in connection with, any distribution thereof; that the Holder has had such opportunity as the Holder has
deemed adequate to obtain from representatives of the Company such information as is necessary to permit the Holder to evaluate
the merits and risks of its investment in the Company; that the Holder is able to bear the economic risk of holding the Shares
for an indefinite period; that the Holder understands that the Shares will not be registered under the Act (unless otherwise required
pursuant to exercise by the Holder of the registration rights, if any, granted to the Holder) and will be “restricted securities”
within the meaning of Rule 144 promulgated under the Act; and that all stock certificates representing Shares may

 

    	 

     

    

have affixed thereto a legend substantially
in the following form:

 

THE SECURITIES REPRESENTED HEREBY HAVE
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”) OR ANY STATE SECURITIES LAWS, AND MAY
NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER
THE ACT OR UNLESS SUCH TRANSFER IS EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS.
THE COMPANY MAY REQUIRE AN OPINION OF COUNSEL, IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE COMPANY, TO THE EFFECT THAT
REGISTRATION IS NOT REQUIRED IN CONNECTION WITH SUCH TRANSFER.

 

14.          Modification
and Waiver. This Warrant and any provision hereof may be changed, waived, discharged or terminated only by an instrument
in writing signed by the Company and the holder hereof (as such term is defined in the Note).

 

15.          Notices.
Any notice, request, communication or other document required or permitted to be given or delivered to the Holder or the Company
shall be delivered, or shall be sent by certified or registered mail, postage prepaid, overnight courier or facsimile (with return
receipt requested) or delivered personally to the Holder at its address as shown on the books of the Company or to the Company
at the address indicated therefor on the signature page of this Warrant.

 

16.          Binding
Effect on Successors. This Warrant shall be binding upon any corporation succeeding the Company by merger, consolidation
or acquisition of all or substantially all of the Company’s assets, and all of the obligations of the Company relating to
the Applicable Securities issuable upon the exercise or conversion of this Warrant shall survive the exercise, conversion and termination
of this Warrant and all of the covenants and agreements of the Company shall inure to the benefit of the successors and assigns
of the Holder.

 

17.          Lost
Warrants or Stock Certificates. The Company covenants to the Holder that, upon receipt of evidence reasonably satisfactory
to the Company of the loss, theft, destruction or mutilation of this Warrant or any share certificate and, in the case of any such
loss, theft or destruction, upon receipt of an indemnity reasonably satisfactory to the Company, or in the case of any such mutilation
upon surrender and cancellation of such Warrant or share certificate, the Company will make and deliver a new Warrant or share
certificate, of like tenor, in lieu of the lost, stolen, destroyed or mutilated Warrant or shares certificate.

 

18.          Descriptive
Headings. The descriptive headings of the various Sections of this Warrant are inserted for convenience only and do not
constitute a part of this Warrant. The language in this Warrant shall be construed as to its fair meaning without regard to which
party drafted this Warrant.

 

19.          Governing
Law. This Warrant shall be construed and enforced in accordance with, and the rights of the parties shall be governed by,
the laws of the State of Israel.

 

20.          Survival
of Representations, Warranties and Agreements. All representations and warranties of the Company and the Holder contained
herein shall survive the Warrant Date, the exercise or conversion of this Warrant (or any part hereof) or the termination or expiration
of rights hereunder. All agreements of the Company and the Holder contained herein shall survive indefinitely until, by their respective
terms, they are no longer operative.

 

    	 

     

    

21.          Remedies.
In case any one or more of the covenants and agreements contained in this Warrant shall have been breached, the Holder (in the
case of a breach by the Company), or the Company (in the case of a breach by the Holder), may proceed to protect and enforce their
or its rights either by suit in equity and/or by action at law, including, but not limited to, an action for damages as a result
of any such breach and/or an action for specific performance of any such covenant or agreement contained in this Warrant.

 

22.          No
Impairment of Rights. The Company will not, by amendment of its Articles or through any other means, avoid or seek to avoid
the observance or performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out
of all such terms and in the taking of all such action as may be necessary or appropriate in order to protect the rights of the
Holder against impairment.

 

23.          Severability.
The invalidity or unenforceability of any provision of this Warrant in any jurisdiction shall not affect the validity or enforceability
of such provision in any other jurisdiction, or affect any other provision of this Warrant, which shall remain in full force and
effect.

 

24.          Entire
Agreement; Modification. This Warrant constitutes the entire agreement between the parties pertaining to the subject matter
contained in it and supersedes all prior and contemporaneous agreements, representations, and undertakings of the parties, whether
oral or written, with respect to such subject matter.

 

[Signature Page Follows]

 

    	 

     

    

The Company has caused this Warrant to be
duly executed and delivered as of the Warrant Date specified above.

 

	 	ENTERA BIO LTD. 	 
	 	 	 
	 		 
	 	Name: 	 
	 	Title:	 
	 	 	 
	 	Address for Notices:	 
	 	 	 
	 	Entera Bio Ltd.	 
	 	Jerusalem Bio Park	 
	 	PO Box 12117	 
	 	Jerusalem 91220	 
	 	Tel: +972-54-535-2683	 
	 	Attn: Dr. Phillip Schwartz	 
	 	 	 
	 	with a copy (which shall not constitute notice) to:
	 	 	 
	 	Yair Geva, Adv.	 
	 	Herzog Fox & Neeman Law Office	 
	 	4 Weizmann Street	 
	 	Tel Aviv 64239, Israel	 
	 	Fax: +972-3-696-6464	 
	 	Email: gevay@hfn.co.il	 

 

    	 

     

    

EXHIBIT A

 

NOTICE OF EXERCISE

 

To: Entera Bio Ltd. (the “Company”)

 

The undersigned hereby elects to purchase________
shares of [Applicable Securities] [Ordinary Shares] of the Company pursuant to the terms of the attached Warrant, and tenders herewith
payment of the purchase price of such shares in full.

 

or (in the event of a QIPO, as such term
is defined in the Warrant)

 

The undersigned hereby
elects irrevocably to convert its right to purchase ___ Shares under the Warrant for ______ Shares, as determined in accordance
with the following formula:

 

Y(A ־ B)

 

X = _____________________________

 

 A

 

where:

 

X = the number of Shares to be
issued to the Holder; 

Y = the number of Shares which
would otherwise have been obtainable upon conversion of this Warrant; 

A = the fair market value of the
Applicable Securities; and 

B
= the Exercise Price.

 

The undersigned agrees and acknowledges
that the calculation set forth above is subject to confirmation by the Company and any disagreement with respect to the calculation
shall be resolved by the Company in its sole discretion.

 

Please issue a certificate or certificates
representing ________ shares in the name of the undersigned:

 

 

	 		 
	 	(Name) 	 
	 	 	 
	 	 	 
	 		 
	 	 	 
	 		 
	 	(Address) 	 
	 	 	 
	 	   	 
	 	(Signature) 	 
	 		 

____________

(Date)

 

    	 

     

    

EXHIBIT B

 

ARTICLES

 

    	 

     

    

EXHIBIT C

 

FORM OF
ASSIGNMENT

 

(To be
executed only upon assignment of Warrant)

 

	To:   Entera Bio Ltd.	Warrant No. ___

 

For
value received, the undersigned hereby sells, assigns and transfers unto ________________________ the attached Warrant,
together with all right, title and interest therein, and does hereby irrevocably constitute and appoint ____________________________
attorney, to transfer said Warrant on the books of the within-named Company with respect to the number of Shares set forth below,
with full power of substitution in the premises:

 

	Name(s) of Assignee(s)	Address	Number of Shares
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

If the number of shares specified to be
transferred in this Form of Assignment shall not be all of the Shares purchasable under the Warrant, please issue a new Warrant
in the name of the undersigned for the balance remaining of the Shares purchasable thereunder.

 

	 	[Holder name]
	 	 	 
	 	 	 
	 	By:	 
	 	 	 
	 	 
	 	Printed Name
	 	 	 
	 	 
	 	TitleUnassociated Document

 

Exhibit 10.1

Patent Transfer Agreement

 

This Patent Transfer Agreement (this “Agreement"), made and entered into as of the 22nd day of February, 2011 and effective on the date of the Closing (as defined below) (the "Effective Date"), by and between Oramed Ltd., a company organized under the laws of the State of Israel with principal offices at Hi-Tech Park 2/5 Givat-Ram, PO Box 39098, Jerusalem 91390, Israel (“Oramed”), and Entera Bio Ltd., a company organized under the laws of the State of Israel with principal offices at Avishai 3 Jerusalem 93149, Israel, ("Entera"; Oramed and Entera shall be referred to individually as a "Party" and together as the "Parties")

 

WITNESSETH: THAT

 

WHEREAS, the Parties have entered into a Patent License Agreement dated August 19, 2010 (the "Original Agreement"), attached hereto as Exhibit A-1, pursuant to which Oramed granted to Entera certain rights in respect of the Patent (hereinafter defined); and

 

WHEREAS, this Agreement constitutes Exhibit A to that certain Share Purchase Agreement by and between Oramed and D.N.A. Biomedical Solutions Ltd. ("DNA"), attached hereto as Exhibit A-2 (the “Share Purchase Agreement”); and

 

WHEREAS, the Parties wish, subject to and conditional upon all the Conditions Precedent (hereinafter defined) to replace the Original Agreement with the terms set forth herein, according to which Oramed shall assign the Patent to Entera and Entera shall grant Oramed an exclusive right and license under the Patent in respect of the Licensed Fields under the terms set forth in this Agreement;

 

NOW, THEREFORE, subject to the terms and conditions hereof, in consideration of the mutual covenants contained herein, the Parties agree as follows:

 

	
1.

	
Definitions

 

	
  

	
1.1.

	
"Conditions Precedent" means all of the conditions set forth in Section 2.1 below.

 

	
  

	
1.2.

	
"Closing" shall have the same meaning as defined in the Share Purchase Agreement.

 

	
  

	
1.3.

	
"Intellectual Property Rights" means all (a) Licensed Patents, patents, patent applications and patent rights; (b) rights associated with works of authorship, including copyrights, copyrights applications, copyrights restrictions, mask work rights, mask work applications and mask work registrations; (c) rights relating to the protection of "know how", trade secrets, and confidential information; and (d) any and all patents, or applications, or divisions, continuations, continuation in part, renewals, reissues and extensions of the foregoing (as applicable) now existing or

 

  

1

  

 

hereafter filed, issued, or acquired or claiming the benefit or priority of the applications of Licensed Patents.

 

	
  

	
1.4.

	
"Licensed Field" means Diabetes and Influenza.

 

	
  

	
1.5.

	
"Net Revenues" shall mean the gross revenues generated and actually received by Entera, directly or indirectly, from the sales, lease or other transfer of the Licensed Patent and/or of any products covered by the Licensed Patent and/or related services and/or any other exploitation of the Licensed Patent, less (i) research and development expenses incurred by Entera that directly relate to the Patent or the products that generated such revenues, and all sales and marketing expenses and manufacturing and production of product costs (COGS) incurred by Entera that directly relate to such revenues, in each case as reflected in Entera's audit financial statements in accordance with the accounting standards used by Entera, and (ii) the amounts paid by Entera, which are separately stated on the corresponding invoice or receipt and directly applicable to the Patent or products and services covered by it, as the case may be, for VAT or similar taxes, freight charges, export packing and crating expenses, cost of returned products, wholesale discounts and quantity discounts.  The fair market value of non-monetary consideration received in connection with the foregoing, shall be calculated based on the fair market value of such consideration or transaction assuming an arm's length transaction made in the ordinary course of business.

 

	
  

	
1.6.

	
“Patent” means the patent application in PCT which Oramed filed under international publication number WO 2010/020978A1 entitled "Methods and Compositions for Oral Administration of Proteins" and which was published on February 25, 2010 by the International Bureau of the World Intellectual Property Organization (WIPO) attached as Exhibit B hereto, including all inventions and discoveries identified in it, and any continuation, continuation in part, divisional, re-issue, re-examination and substitution applications of any of the foregoing; all applications of any of the foregoing, together with all patents which may issue based thereon filed in any and all jurisdictions worldwide.

 

	
2.

	
Closing.

 

	
  

	
2.1.

	
Conditions Precedent.  The obligations of each Party under this Agreement are subject to the fulfillment on or before the Closing of each of the below conditions (the "Conditions Precedent"):

 

	
  

	
2.1.1.

	
The Closing of the Share Purchase Agreement shall occur simultaneously with the consummation of this Agreement.

 

  

2

  

 

	
  

	
2.1.2.

	
Oramed, Entera and DNA shall terminate that certain Joint Venture Agreement, entered into on June 1, 2010 as amended on August 15, 2010.

 

	
  

	
2.2.

	
DNA shall have received shareholders approval necessary to fulfill all of the respective obligations set forth under this Agreement.

 

	
  

	
2.2.1.

	
The shareholders of Entera shall have amended and restated the Amended and Restated Articles of Association of Entera to the reasonable satisfaction of DNA pursuant to which all special shareholder’s rights of Oramed (including, but not limited to, pre-emptive rights, right of first refusal, veto rights, appointment of members of the board of directors) shall be cancelled.

 

	
  

	
2.3.

	
Actions at Closing.  The following actions shall occur at the Closing:  All documents shall have been delivered and executed that are required pursuant to this Agreement, including such documents required for the amendment of the applications and filings relating to the Patent with all relevant patent offices in any applicable jurisdiction to reflect the assignment of the Patent to Entera.

 

To the extent that by or upon the Closing not all Conditions Precedent have been met, this Agreement shall be null and void and the Original Agreement shall continue to apply without change.  On the Effective Date, each of the Parties, for and on behalf of itself and its successors and assigns, shall be deemed to have released the other Party and its officers, directors, shareholders, employees, agents, representatives, successors and assigns, from any and all actions, claims and/or demands which they respectively may now have, ever had and/or may in the future have against each other arising out of and/or in connection with the Original Agreement and the transactions contemplated thereunder.

 

	
3.

	
Patent Assignment.  Upon and subject to the Closing, Oramed shall assign to Entera all its right, title and interest in and to the Patent, free and clear of any kind of lien, mortgage, security interest or other encumbrance, and execute and deliver the Transfer Deed attached hereto as Exhibit C.  To the extent required after the Closing, Oramed shall execute, verify and deliver such additional documents as Entera may reasonably request for use in applying for, obtaining, perfecting, evidencing, sustaining and enforcing the said Patent assignment.  In the event Oramed does not sign any document required in connection with the said assignment, as aforesaid, Oramed hereby irrevocably designates and appoints the chief executive officer of Entera as its agent and attorney in fact, solely to act for and on Oramed’s behalf to execute, verify and file any such documents and to perform all other lawfully permitted acts solely for the purpose of assigning the rights to the Patent (including, without limitation, amendment of filings with relevant patent offices), provided that such individual provides Oramed with a copy of each and every document that is

 

  

3

  

 

signed, as aforesaid, concurrently with the execution thereof.  Concurrently with the Closing, Oramed shall transfer to Entera a copy of all documentation in Oramed’s possession relating to the Patent (including, but not limited to, all applications made worldwide, and all correspondence with patent offices, legal advisors and patent attorneys).  Other than the assignment of the Patent, nothing contained herein shall be construed as granting to Entera or any other party any rights, title or interest in and to Oramed’s and/or Oramed Inc.’s Intellectual Property Rights.

 

	
4.

	
Exclusive License Back.

 

	
  

	
4.1

	
License Back.  Automatically, upon assignment of the Patent to Entera, Entera grants to Oramed under the Patent and any derivatives, modifications, enhancements and improvements thereof (the "Licensed Patent"):  a worldwide, royalty free, fully paid-up, exclusive (solely in respect of the Licensed Field), irrevocable and perpetual, non-transferable license but, with the right to sublicense, to develop, test, manufacture, make, use, market, distribute and sell, have developed, tested, manufactured, made, used, marketed, distributed and sold products covered by the Licensed Patent or otherwise exploit the Licensed Patent, solely in the Licensed Field.  Oramed shall have the right to sublicense its rights hereunder in the Licensed Patent, provided that the sublicensee is bound by terms no less restrictive than those set forth herein and that Oramed is responsible for the sublicensee's compliance with the terms of the sub-license.

 

	
  

	
4.2.

	
Entera’s Ownership and Rights.  Other than the rights expressly granted to Oramed in this Agreement, Entera shall retain all right, title, and interest in and to the Patent and the Licensed Patent and any derivatives, modifications, enhancements and improvements thereto and documentation related thereto and all Intellectual Property Rights embedded therein and and/or related thereto.  Nothing herein contained (a) shall prevent Entera from freely using and exploiting the Patent and the Licensed Patent and/or Intellectual Property Rights related thereto, outside of the Licensed Field; and (b) nothing herein contained shall grant to Oramed any rights of any kind or nature in respect of any other patents or other intellectual property rights of Entera.

 

	
5.

	
Non- Compete.

 

Entera shall not, directly or indirectly, engage in any activities within the Licensed Field, including without limitation market or sell, solicit the submission of, entertain inquiries, proposals, offers from any person or entity, or otherwise provide information or engage in discussions with any person or entity, in any way relating to the development, sale, licensing, distribution or other disposition of products, materials or methods within the Licensed Field.

 

  

4

  

 

	
6.

	
Warranty and Disclaimer.

 

	
  

	
6.1.

	
Mutual Warranties.  Each of the Parties hereto represents and warrants that (a) it is authorized to enter into this Agreement and to carry out its obligations hereunder, (b) the Agreement constitutes, when executed and delivered at the Closing, valid and binding obligations of the Parties enforceable in accordance with its terms, (c) neither the execution and delivery of this Agreement nor the performance of any of its obligations under this Agreement will violate or conflict with a provision in an agreement or instrument or an order or judgement of a court, tribunal or governmental or regulatory body which is binding on it, and (d) except as expressly provided for in this Agreement, no approval, waiver, registration, consultation or notification is required to be obtained or made by it in connection with the execution, performance or enforcement of this Agreement.

 

	
  

	
6.2.

	
Oramed’s Warranties.  Oramed represents and warrants to Entera that as of the date hereof (a) it is the sole and exclusive owner of the entire right, title and interest in and to the Patent, (b) it has, to its knowledge, performed, or caused to be performed, all acts and things, reasonably required to protect the Patent in the Territory, including, but not limited to, filing, prosecution and maintenance, and made or required payments related to the foregoing, (c) there are no outstanding payments in respect of the filing, prosecution and maintenance regarding the Patent, (d) the Patent is free and clear of any kind of lien, mortgage, security interest or other encumbrance, (e) it is not aware of any existing or threatened litigation against Oramed or any of its affiliated companies concerning the Patent, (f) it has not granted any licenses under the Patent (other than under the Original Agreement), (g) other than the Patent, it has not made any application or filing related to the absorption enhancers N (5-clilorosalicyloyl)-8-aminocaprylic acid, N (1 O-[2-hydroxybenzoyl] amino) decanoic acid, N (8- [2-hydroxybenzoyl] amino) caprylic acid, or any entity related to the above or any combination of entities related to the above said absorption enhancers, and that (h) it has not withheld from Entera any material information regarding Section 6.2(a) above.

 

	
  

	
6.3.

	
Entera's Warranties.  Entera represents and warrants to Oramed that in its capacity as the licensee of the Patent under the Original Agreement:  (a) Entera has obtained and reviewed a copy of the PCT Application of the Patent and it is fully aware of the potential risks, if at all, of proceeding with the commercialization of the Patent prior to the expiration of a certain other existing patent and in respect of which delay, if any, it has no claims to Oramed; and (b) that Oramed is engaged in a continuing development process of components that are mutual to the Patent as well as other patents owned by Oramed, such as but not limited to SBTI and Aprotinin, and that any Intellectual Property Rights associated with such process and/or components is not part of the assignment of the Patent hereunder,

 

  

5

  

 

provided however that Oramed shall not assert against Entera intellectual property rights associated with Oramed's ongoing and/or future optimization of quantities of, and/or the ratios between, said components.

 

	
  

	
6.4.

	
Nothing in this Agreement shall be construed as an agreement or commitment in any way that Oramed supply to Entera any products developed as a result of Oramed's ongoing and/or future development or optimization of any component or components that are mutual to the Patent as well as one or more other patents owned by Oramed.

 

	
  

	
6.5.

	
Oramed's Covenant.  Oramed undertakes to perform all acts reasonably required relating to the filing, prosecution and maintenance of the Patent until the Closing.

 

	
  

	
6.6.

	
Disclaimer.  Except for explicit representations and warranties made in this Agreement, nothing in this Agreement is or shall be construed as:  (i) a warranty or representation by Oramed as to the validity or scope of the Patent; (ii) any warranty or representation by Oramed that the Patent is valid and/or enforceable or (b) is or will be free from infringement of patents, copyrights, and other rights of third parties; (iii) granting by implication, estoppel or otherwise any rights or licenses under patents owned or licensed by Oramed or Oramed Inc. other than the Patent defined in this Agreement, regardless of whether such patents are dominant or subordinate to the Patent.  EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, ORAMED AND/OR ORAMED INC. MAKES NO REPRESENTATIONS AND EXTENDS NO WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION, AS TO MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, OR NON INFRINGEMENT.

 

	
7.

	
Royalties.

 

	
  

	
7.1.

	
Commencing upon the date of Closing, Entera shall be obligated to pay Oramed three percent (3%) of its Net Revenues ("Royalties").  Royalties shall be paid within thirty (30) days after the end of each calendar quarter together with a detailed written calculation of the amounts due hereunder which shall include an itemization of the sale, lease, transfer and other exploitation of each product covered by, and each sublicense of, the Licensed Patent, both due and paid, during the relevant calendar quarter.

 

	
  

	
7.2.

	
Entera shall keep, full and correct books of account in accordance with Generally Accepted Accounting Principles as required by international accounting standards, enabling Royalties to be calculated accurately.  At the request of Oramed, but not more than twice per year, a certified public accountant, approved by the Parties, shall be entitled during regular business hours of Entera and upon prior written coordination, to audit the relevant

 

  

6

  

 

books and records of Entera to verify its compliance with the provisions of this Section 7.  Entera shall promptly pay to Oramed the underpayment of Royalties, if any, as may be determined by the said auditor, as well as the reasonable fees of the auditor in the event that such underpayment is more than 5% of the Royalty amounts due for the audited period.

 

	
  

	
7.3.

	
Payments shall be made by wire transfer to the bank account designated by Oramed.  Entera shall add VAT to all payments hereunder, if applicable.  All payments shall be made without the withholding or deduction of any taxes, levies or charges, provided that Oramed shall provide the requisite exemptions upon request.

 

	
  

	
7.4.

	
Any payments which are not duly paid shall bear interest from the due date of payment until actual payment is made, at the rate of LIBOR plus two percent (2%), compounded annually.

 

	
  

	
7.5.

	
In the event that a court of last resort has ruled that Oramed is in breach of its representations and warranties pursuant to Sections 6.2(a) herein, the right of Oramed to receive Royalties shall immediately terminate, without prejudice to any other right or remedy Entera may have.

 

	
8.

	
Confidential Information

 

	
  

	
8.1.

	
Definition and Use.  Pursuant to this Agreement, each party may disclose to the other certain proprietary technical or business information or materials (“Confidential Information”).  Each party agrees that it will not use any Confidential Information received from the other except for the purposes of this Agreement and agrees not to disclose any such Confidential Information to third parties, and to maintain and follow reasonable procedures to prevent unauthorized disclosure or use of the Confidential Information received from the other party and to prevent it from falling into the public domain or the possession of unauthorized persons.  Without limiting the generality of the foregoing, each party agrees to disclose to its employees only such Confidential Information as is necessary to each employee’s responsibilities in performing the acts allowed by this Agreement.  Each party shall promptly advise the disclosing party of any disclosure, loss or use of Confidential Information in violation of this Agreement after becoming aware of the same.  The parties agree that the terms and conditions of this Agreement constitute Confidential Information.  Each party agrees that its confidentiality obligations hereunder shall survive for a period of five (5) years after the termination of this Agreement.

 

	
  

	
8.2.

	
Exclusions.  Confidential Information shall not include information:

 

	
  

	
8.2.1.

	
that becomes lawfully known or available to the receiving party from a source other than the disclosing

 

  

7

  

 

party without breach of any confidentiality obligation under this Agreement;

 

	
  

	
8.2.2.

	
that was already known to the receiving party, as shown by written records, before its disclosure by the disclosing party;

 

	
  

	
8.2.3.

	
developed independently by the receiving party without the use or consideration of or reference to the Confidential Information;

 

	
  

	
8.2.4.

	
that is within, or later falls within, the public domain without breach of this Agreement;

 

	
  

	
8.2.5.

	
publicly disclosed with the written approval of the disclosing party; or

 

	
  

	
8.2.6.

	
disclosed pursuant to the requirement or demand of a lawful governmental or judicial authority, but only to the extent required by operation of law, regulation or court order provided, however, that the receiving party shall provide prompt notice of such court order or requirement to the disclosing party to enable the disclosing party to seek a protective order or otherwise prevent or restrict such disclosure.

 

	
9.

	
Patent Protection and Prosecution.

 

	
  

	
9.1.

	
As of the Closing, Entera shall be responsible for and in control of the filing, prosecution and maintenance (including obtaining continuations) of all patents included in, or that claims any of the inventions included in, the Licensed Patent at its own expense.  Such responsibility shall be with respect to patent prosecution in the following countries:  USA, Europe, Japan, China, Israel, Brazil, Russia, India, Canada, New Zealand and Australia (the “Territory”).  Nothing herein contained shall be construed as obligating Entera to prosecute any particular patent applications in any county other than those set forth above.

 

	
  

	
9 .2.

	
In the event that Entera provides explicit written notice to Oramed that it has decided not to file and prosecute a patent application for the Licensed Patent in a particular jurisdiction in the Territory or fails to do so after at least thirty days prior written notice of such failure by Oramed to Entera, then in such event, Oramed may at its expense prepare, file, prosecute and maintain the Licensed Patent in all such jurisdictions in Entera's name and Entera hereby authorizes Oramed to take all such actions.

 

  

8

  

 

	
10.

	
Intellectual Property Infringement Enforcement.

 

	
  

	
10.1.

	
In the event that either Party hereto becomes aware of any infringement or threatened infringement or misappropriation or threatened misappropriation of, or challenge to, the Licensed Patent (“IP Infringement”), such Party will promptly advise the other Party of such IP Infringement and of all the relevant facts and circumstances known by it in connection with the IP Infringement.

 

	
  

	
10.2.

	
As of the Closing in the event of any IP Infringement or defense, Entera shall take all reasonable legal action at its expense as recommended by its legal counsel, to protect the Licensed Patent against infringement.  Oramed shall reasonably cooperate with Entera, at Entera’s expense, in the prosecution of any such action and upon Entera's request shall join such action as necessary for standing to commence and maintain the action.  In addition, Oramed may, at its own expense, actively participate in the conduct of any such action and, in any event, may provide ongoing comments and advice regarding its position in the dispute which comments Entera shall consider in good faith, provided, however, that Entera shall retain sole control of the defense and/or settlement of any such claim.  Any recovery obtained as a result of such action shall belong to Entera, less applicable Royalties on the result of such action minus litigation expenses.  In the event Entera declines or fails to timely pursue any legal action relating to such IP Infringement or defense, Oramed and/or Oramed Inc. may at their sole discretion undertake all such legal action at its expense and with its own legal counsel as it sees fit.  Any recovery obtained as a result of such action shall belong solely to Oramed.

 

	
11.

	
Indemnification.

 

	
  

	
11.1.

	
Entera shall hold harmless, defend and indemnify Oramed, its directors officers, employees and assigns from and against any liability, damage, loss or expense (including reasonable attorney’s fees and expenses of litigation) claims, demands or causes of action whatsoever that a court of last resort has ruled is caused by, arising out of, or resulting from, (i) any breach of any representation or warranty by Entera under this Agreement and/or (ii) the exercise of its rights granted under this Agreement.

 

	
  

	
11.2.

	
Oramed shall hold harmless, defend and indemnify Entera, its directors officers, employees and assigns from and against any liability, damage, loss or expense (including reasonable attorney’s fees and expenses of litigation) claims, demands or causes of action whatsoever that a court of last resort has ruled is caused by, arising out of, or resulting from, (i) any breach of any representation or warranty by Oramed under this Agreement and/or (ii) the exercise of its rights granted under this Agreement.

 

  

9

  

 

	
  

	
11.3.

	
The indemnification obligations of each of the indemnitor parties above are conditioned upon:  (a) prompt notice by the indemnitee to the indemnitor of the cause of action for any claim; (b) the indemnitor having sole control of the defense of the claim and the settlement thereof, provided that no settlement shall be made without the prior written consent of the indemnitee which consent shall not be unreasonably withheld and provided that the indemnitor diligently pursues the defense of such claim; and (c) the indemnitee provides reasonable assistance and cooperation as requested by indemnitor at indemnitor's expense.

 

	
12.

	
Limitation of Liability.

 

	
  

	
12.1.

	
NOTWITHSTANDING SECTION 11 ABOVE, NEITHER PARTY SHALL BE LIABLE TO THE OTHER, ITS CUSTOMERS, THE USERS OF ANY PRODUCT, OR ANY THIRD PARTIES FOR INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES, INCLUDING, WITHOUT LIMITATION, ANY DAMAGE OR INJURY TO BUSINESS EARNINGS, PROFITS OR GOODWILL SUFFERED BY ANY PERSON ARISING FROM ANY USE OF THE LICENSED PATENT OR PRODUCTS BASED THEREON, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

 

	
13.

	
Term and Termination

 

	
  

	
13.1.

	
Term.  This Agreement shall commence on the Effective Date and continue in full force and effect, unless terminated in accordance with the terms of this Agreement ("Term").

 

	
  

	
13.2.

	
Termination for Cause.  Either Party may terminate this Agreement effective upon written notice to the other party in the event the other Party materially breaches this Agreement, and such breach remains uncured for forty-five (45) days following written notice of such breach by the non-breaching Party, unless such breach is incurable in which event termination shall be immediate upon receipt of written notice.

 

	
  

	
13.3.

	
Termination for Insolvency.  Each Party may terminate this Agreement by written notice, (i) upon the institution by or against the other party of insolvency, receivership or bankruptcy proceedings or any other proceedings for the settlement of such party's debts, (ii) upon the other party's making a general assignment for the benefit of creditors, or (iii) upon the other party's dissolution or ceasing to do business.

 

	
  

	
13.4.

	
Consequences and Survival of Certain Terms.  The provisions of Sections 1, 2, 3, 4, 6, 7, 8, 11, 12 and 13 shall survive the termination of this Agreement.

 

  

10

  

 

	
14.

	
General Provisions:

 

	
  

	
14.1.

	
Independent Contractors:  The relationship established between the Parties by this Agreement is that of independent contractors.  Nothing in this Agreement shall be construed to constitute the Parties as partners, joint venturers, co-owners or otherwise as participants in a joint or common undertaking for any purpose whatsoever.

 

	
  

	
14.2.

	
Governing Law; Jurisdiction.  The rights and obligations of the Parties under this Agreement shall be governed by and construed in accordance with laws of the State of Israel, without regard to conflicts of laws principles.  Any dispute arising out of or in connection with this Agreement shall be brought exclusively in, and each Party irrevocably consents to the personal and exclusive jurisdiction and venue of the applicable court in the Tel Aviv Jaffa District

 

	
  

	
14.3.

	
Amendment.  The terms and conditions of this Agreement may only be amended by a writing signed by both Parties.

 

	
  

	
14.4.

	
No Waiver.  Except as expressly provided herein, the rights and remedies herein provided shall be cumulative and not exclusive of any other rights or remedies provided by law or otherwise.  Failure by either party to detect, protest, or remedy any breach of this Agreement shall not constitute a waiver or impairment of any such terms or condition or the rights of such party at any time to avail itself of such remedies as it may have for any breach or breaches of such term or condition.  Waiver may only occur pursuant to the express written permission of an authorized officer of the party against whom the waiver is asserted.

 

	
  

	
14.5.

	
Severability.  In the event any term, condition or provision of this Agreement is declared or found by a court of competent jurisdiction to be illegal, unenforceable or void, the Parties shall endeavor in good faith to agree to amendments that will preserve, as far as possible, the intentions expressed in this Agreement.  If the Parties fail to agree on such amendments, such invalid term, condition or provision shall be served from the remaining terms, conditions and provisions, which shall continue to be valid and enforceable to the fullest extent permitted by law.

 

	
  

	
14.6.

	
Assignment.  Nothing herein shall be construed as limiting Entera's right to sell, lease, license or otherwise assign or dispose of its rights (collectively, "Assignment") in and to the Licensed Patent or any of its Intellectual Property Rights, provided that:  (i) any such Assignment shall not relieve Entera of any of its obligations under this Agreement incurred prior to any Assignment; (ii) any Entera designated assignee shall be bound by all of Entera's obligations under this Agreement and such designated assignee confirms in writing to Oramed the aforesaid.

 

  

11

  

 

	
  

	
14.7.

	
Notices.  Any notice required or permitted under this Agreement or required by law must be in writing and must be (i) delivered in person, (ii) sent by registered or certified mail, postage prepaid, or (iii) sent by overnight courier such as FedEx or DHL to the addresses first written above, provided that a copy is always sent by e-mail which shall not be considered formal notice hereunder.  The e-mail address of Oramed is:  yifat@oramed.com and the e-mail address of Entera is:  phillip@enterabio.com.  Notices will be deemed to have been given at the time of actual delivery in person, seven (7) business days after deposit in the mail as set forth herein, or one ( 1) business day after delivery to an overnight courier service.

 

	
  

	
14.8.

	
Force Majeure.  Neither party will be liable to the other for any default hereunder (excluding any payment obligations) resulting from delay or failure to perform all or any part of this Agreement in such delay or failure is caused, in whole or in part, by events, occurrences or causes beyond the reasonable control of such party, Such events include, without limitation, acts of God strikes, lockouts, riots, acts of war, earthquakes, floods and fire, but the inability to meet financial obligations is expressly excluded.

 

	
  

	
14.9.

	
Entire Agreement.  This Agreement, including all attachments, all of which this Agreement incorporates by reference, sets forth the entire agreement and understanding between the Parties and supersedes and cancels all previous negotiations, agreements and commitments, whether oral or in writing, with respect to the subject matter described herein, and neither party shall be bound by any term, clause, provision, or condition save as expressly provided in this Agreement or as duly set forth in writing as a subsequent amendment to this Agreement, signed by duly authorized officers or each party

 

IN WITNESS WHREOF, the parties have caused their duly authorized representatives to enter into the Patent Transfer Agreement, effective as of the Effective Date.

 

	
ORAMED LTD.

	  	
ENTERA BIO LTD.

	 	 	 
	 	 	 
	
By:

	
/s/ Nadav Kidron

	  	
By:

	
/s/ Phillip Schwartz

	
Print Name:

	
Nadav Kidron

	  	
Print Name:

	
Phillip Schwartz

	
Title:

	
CEO

	  	
Title:

	  

  

12

  

 

Exhibit C

 

Patent Assignment

 

Oramed Ltd., a company organized under the laws of the State of Israel with principal offices at Hi-Tech Park 2/5 Givat-Ram, PO Box 39098, Jerusalem 91390, Israel (herein referred to as “Assignor”) hereby acknowledges that pursuant to the Patent Transfer Agreement by and among Assignor and Entera Bio Ltd., a company organized under the laws of the State of Israel with principal offices at Hi-Tech Park 2/5 Givat-Ram, PO Box 39098, Jerusalem 91390, Israel (herein referred to as “Assignee”), executed on February 22, 2011 (the “Patent Transfer Agreement”), Assignor hereby sells, assigns, transfers, and sets over unto Assignee:

 

(1)      Assignor’s entire right, title and interest in, to, and under the patent and patent applications, and any and all inventions, discoveries and applications that are disclosed in these patent and patent applications, for the United States and in all countries, as identified in Schedule A attached to this Patent Assignment (herein referred to as the “Patents”), and including any and all divisional, continuation, continuation-in-part, renewal, reissue, reexamination, revival, extension, and any substitute application based upon the Patents,; (2) the full and complete right to file patent applications in the name of the Assignee, its designee, or its designee's election, in all countries of the world, on the aforesaid Patents and any inventions, discoveries and applications disclosed in the Patents; (3) the entire right, title and interest in and to any letters patents that may issue thereon in the United States or in any country, and any renewals, revivals, reissues, reexaminations and extensions thereof, and any patents of confirmation, registration and importation of the same; (4) the entire right, title and interest in all convention and treaty rights of all kinds thereon, including without limitation all rights of priority in any country of the world, in and to the Patents and the inventions, discoveries and applications that are disclosed in the Patents; (5) any and all claims, demands, causes of action, damages, and remedies of every kind recoverable at law or in equity or otherwise from any and every party for any and every infringement of the Patents and any letters patent that may issue thereon together with the rights to bring and maintain any action for past, present, and future acts of infringements and for the recovery of damages and fees in the United States or in any country; and (6) all rights, title, and interest evidenced by or embodied in or connected or related to the foregoing.

 

Assignor hereby authorizes and requests the competent authorities to grant and issue any and all letters patents that may issue from the Patents in the United States and throughout the world to the Assignee of the entire right, title and interest therein, as fully and entirely as the same would have been held and enjoyed by Assignor had this assignment, sale and transfer not been made.

 

Assignor shall execute, verify and deliver such additional documents as Assignee may reasonably request for use in applying for, obtaining, perfecting, evidencing, sustaining and enforcing the said Patent assignment.  In the event Assignor does not sign any document required in connection with the said assignment, as aforesaid, Assignor hereby irrevocably designates and appoints the chief executive officer of Assignee as its agent

 

  

13

  

 

and attorney in fact, solely to act for and on Assignor's behalf to execute, verify and file any such documents and to perform all other lawfully permitted acts solely for the purpose of assigning the rights to the Patent (including, without limitation, amendment of filings with relevant patent offices), provided that such individual provides Assignor with a copy of each and every document that is signed, as aforesaid, concurrently with the execution thereof.

 

Assignor hereby covenants that no assignment, sale, agreement or encumbrance has been or will be made or entered into that would conflict with this Patent Assignment.

 

This Patent Assignment is delivered pursuant to the Patent Transfer Agreement and is subject to the conditions, representations, warranties and covenants provided therein.  Nothing contained herein shall itself change, amend, extend or alter the terms or conditions of the Patent Transfer Agreement in any manner whatsoever.  In the event of any conflict or other difference between the Patent Transfer Agreement and this instrument, the provisions of the Patent Transfer Agreement shall prevail.

 

All capitalized terms not otherwise defined in this Patent Assignment shall have the same meaning ascribed to them in the Patent Transfer Agreement.

 

	
ASSIGNOR:  ORAMED LTD.

	  	  
	 	 	 
	 	 	 
	
Date:

	  	  	  
	  	  	
Signature

	  	  	
Name:

	  

	  	  	
Title:

	  

 

	
ASSIGNEE: ENTERA BIO LTD.

	 	 
	 	 	 
	 	 	 
	
Date:

	 	 	 
	 	 	
Signature

	 	 	
Name:

	 

	 	 	
Title:

	 

 

  

14

  

 

SCHEDULE A TO THE PATENT ASSIGNMENT

 

Oramed Ltd.

 

List of Patents and Patent Applications

 

	
SERIAL

NO

FILING

DATE

	
PATENT NO

(or publica-

tion no. in

parentheses if still pending)

	
CTRY

	
TITLE

	
RELATED

APPS.

	
STATUS

	
PATENT

EXPIRATION DATE

	
NAMED INVENTORS

	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	  	  

  

15

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