Document:

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                                                                     Exhibit 4.5

NEITHER THIS WARRANT NOR ANY SECURITIES THAT MAY BE ISSUED UPON EXERCISE HEREOF
HAVE BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
OR APPLICABLE STATE SECURITIES LAWS. SUCH SECURITIES MAY NOT BE TRANSFERRED OR
OTHERWISE DISPOSED OF UNLESS THEY HAVE BEEN SO REGISTERED AND QUALIFIED OR
EVIDENCE IS FURNISHED TO THE COMPANY TO THE EFFECT THAT REGISTRATION AND
QUALIFICATION IS NOT REQUIRED.

                           FOURTH AMENDED AND RESTATED
                        PREFERRED STOCK PURCHASE WARRANT

                                                    Englewood Cliffs, New Jersey
                                                          As of November 4, 2002

NO. P-__________

     EpiCept Corporation, a Delaware corporation (the "Company"), hereby
certifies that, subject to the terms and conditions set forth herein, (the
"Holder"), is entitled to purchase the Warrant Share Number of shares of Warrant
Stock (both as defined below) from the Company at any time or from time to time
before the earliest of (i) the first business day following the date of the
consummation of an IPO (as defined below), (ii) 5:00 p.m. (New Jersey time) on
November 4, 2012, (iii) the effective time of a Sale of the Company (as defined
below) or (iv) at the Effective Time (as defined in the Merger Agreement (as
defined below)) of the Merger (as defined below) for the Exercise Price (as
defined below), subject to adjustments as set forth in Sections 5 and 7.

     This Fourth Amended and Restated Preferred Stock Purchase Warrant (this
"Warrant") is being issued in connection with the purchase by the Holder of a
Convertible Term Note (as amended and/or restated, the "Note") of the Company in
the Maximum Principal Amount (as defined in the Note) set forth on the signature
page hereto (the "Maximum Note Principal"). The Note is one of a series of notes
issued to certain investors in the aggregate maximum principal amount of
$5,000,000 (collectively, the "Convertible Notes") and this Warrant is one of a
series of related Fourth Amended and Restated Preferred Stock Purchase Warrants
(collectively, the "Warrants") issued in connection with the issuance of the
Convertible Notes.

     1. Determination of Warrant Stock, Warrant Share Number and Warrant
Exercise Price.

          (a)  Warrant Stock.

          (i) If the Company consummates a Qualifying Financing (as defined in
the Note), then (A) the term "Warrant Stock" shall mean shares of the new series
of convertible preferred stock of the Company ("Next Round Preferred Stock")
which is authorized and issued by the Company in connection with the Qualifying
Financing, and (B) in connection with the Qualifying Financing, the Certificate
of Incorporation (as defined below) shall be amended to authorize the Next Round
Preferred Stock issuable upon exercise of this Warrant and the shares
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of the Company's common stock, $0.0001 par value per share ("Common Stock")
issuable upon conversion of such Next Round Preferred Stock.

          (ii) Upon an Optional Conversion Election (as defined in the Note),
the Company shall use its best efforts to ensure that the Certificate of
Incorporation is amended promptly to authorize the Optional Conversion Preferred
Stock (as defined in the Note) issuable upon conversion of the Convertible Notes
and exercise of the Warrants and the Common Stock issuable upon conversion of
such shares of Optional Conversion Preferred Stock, and upon the conversion of
the Note into Optional Conversion Preferred Stock, the term "Warrant Stock"
shall mean shares of the Optional Conversion Preferred Stock.

          (iii) If a Sale of the Company (as defined below) is anticipated to
occur prior to a Qualifying Financing or the conversion of the Note into
Optional Conversion Preferred Stock, the term "Warrant Stock" shall mean shares
of the Company's Common Stock, unless and until a Qualifying Financing occurs or
the Note is converted into Optional Conversion Preferred Stock prior to the Sale
of the Company. If neither a Qualifying Financing nor the conversion of the Note
into Optional Conversion Preferred Stock occurs prior to the payment or
prepayment of the entire principal amount of the Note and all accrued and unpaid
interest thereon, the term "Warrant Stock" shall mean shares of the Company's
Common Stock. If neither a Qualifying Financing nor an Optional Conversion
Election occurs or if a Sale of the Company is anticipated, the Company shall
use its best efforts to ensure that the Certificate of Incorporation is amended
promptly to authorize the shares of Common Stock that might become issuable upon
exercise of the Warrants.

          (iv) Immediately prior to the Effective Time of the Merger, the term
"Warrant Stock" shall mean shares of the Company's Common Stock.

          (b) Warrant Share Number. This Warrant shall be exercisable for a
number of shares of Warrant Stock (the "Warrant Share Number") as follows:

          (i) If the Warrant Stock is Next Round Preferred Stock, the Warrant
Share Number shall equal 50% of the greatest principal amount that has at any
time been outstanding under the Note (the "Greatest Outstanding Amount") divided
by the Exercise Price described in Section 1(c)(i) below, such Warrant Share
Number to be rounded to the nearest whole number.

          (ii) If the Warrant Stock is Optional Conversion Preferred Stock, the
Warrant Share Number shall equal 50% of the Greatest Outstanding Amount divided
by the Exercise Price described in Section 1(c)(ii) below, such Warrant Share
Number to be rounded to the nearest whole number.

          (iii) Subject to Sections 1(b)(iv) and 1(b)(v) below, if the Warrant
Stock is Common Stock, the Warrant Share Number shall equal 50% of the Greatest
Outstanding Amount divided by the Exercise Price described in Section 1(c)(iii)
below, as applicable, such Warrant Share Number to be rounded to the nearest
whole number.

          (iv) During the IPO Period, if the Warrant Stock is Common Stock, the
Warrant Share Number shall equal 50% of the Greatest Outstanding Amount divided
by the

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Exercise Price described in Section 1(c)(iv) below, such Warrant Share Number to
be rounded to the nearest whole number.

          (v) Immediately prior to the Effective Time of the Merger, the Warrant
Share Number shall equal 50% of the Greatest Outstanding Amount divided by the
Exercise Price described in Section 1(c)(iv) below, such Warrant Share Number to
be rounded to the nearest whole number.

          (c) Exercise Price. The exercise price per share of Warrant Stock (the
"Exercise Price") shall be as follows:

          (i) If the Warrant Stock is Next Round Preferred Stock, the Exercise
Price shall be the amount per share at which the Convertible Notes are converted
into Next Round Preferred Stock pursuant to the terms of the Note.

          (ii) If the Warrant Stock is Optional Conversion Preferred Stock, the
Exercise Price shall be the amount per share at which the Convertible Notes are
converted into Optional Conversion Preferred Stock pursuant to the terms of the
Note.

          (iii) Subject to Section 1(c)(iv) below, if the Warrant Stock is
Common Stock, the Exercise Price shall be $0.10.

          (iv) During the IPO Period or immediately prior to the Effective Time
of the Merger, if the Warrant Stock is Common Stock, the Exercise Price shall be
$0.157.

          (d) IPO Period. For purposes of this Section 1, the following terms
shall have the following meanings:

          (i) "IPO" shall mean a Qualified Public Offering, as such term is
defined in the Certificate of Incorporation (as defined in Section 6 below).

          (ii) "IPO Period" shall mean, with respect to any proposed IPO, that
period commencing on the IPO Consideration Date and expiring on the earlier of
(i) the 1st business day following the date of the consummation of an IPO and
(ii) the IPO Termination Date.

          (iii) "IPO Consideration Date" shall mean the date upon which the
Company's Board of Directors or a committee thereof selects a lead managing
underwriter or underwriters for a proposed IPO.

          (iv) "IPO Termination Date" shall mean, with respect to any proposed
IPO, the earlier of (i) the Company's withdrawal of a S-1 Registration Statement
for such proposed IPO that was previously filed with the Securities Exchange
Commission and (ii) the determination, by the Board of Directors of the Company,
to abandon such proposed IPO.

     2. Exercise of Warrant.

          (a) Mechanics of Exercise. This Warrant may be exercised by the
registered holder hereof by surrender to the Company of this Warrant, with the
attached form of

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subscription agreement duly executed by such holder, accompanied by payment
equal to the aggregate purchase price for the securities for which this Warrant
is then being exercised according to Section 4 hereof.

          (b) Warrant Agent. In the event that a bank or trust company is
appointed as trustee for the holder of this Warrant pursuant to Section 5(b)
hereof, such bank or trust company will have all the powers and duties of a
warrant agent appointed pursuant to Section 10 hereof and will accept, in its
own name for the account of the Company or such successor entity as may be
entitled thereto, all amounts otherwise payable to the Company or such
successor, as the case may be, upon exercise of this Warrant.

          (c) Expiration. This Warrant and the holder's rights hereunder will
expire on the earliest of (a) the first business day following the date of the
consummation of an IPO, (b) 5:00 P.M. (New Jersey time) on November 4, 2012, (c)
the effective time of a Sale of the Company or (iv) at the Effective Time of the
Merger; provided, that (i) the Company shall provide the Holder with at least
twenty (20) days advance notice of any anticipated Sale of the Company and (ii)
the Holder shall be permitted to exercise this Warrant contingent upon the
effectiveness of such Sale of the Company. If the Warrant Stock is Next Round
Preferred Stock or Optional Conversion Preferred Stock, then upon and after the
Automatic Conversion Effective Time (as defined in Section 7), the right to
purchase shares of Warrant Stock granted herein shall terminate, and this
Warrant shall represent the right to purchase shares of Common Stock, as
provided in Section 7 hereof. For purposes hereof, a "Sale of the Company" means
(a) a merger, consolidation, share exchange or other form of corporate
reorganization involving the Company in which the stockholders of the Company
immediately before such merger, consolidation, share exchange or other corporate
reorganization dispose of in excess of fifty percent (50%) of the issued and
outstanding capital stock of the Company; (b) any transaction or series of
related transactions in which (i) all or substantially all of the assets of the
Company are sold, or (ii) in excess of fifty percent (50%) of the shares of
Common Stock (assuming conversion of all convertible securities) is issued
transferred to any person (other than in a Qualifying Financing); or (c) any
event that would trigger payments to the holders of any series of the Preferred
Stock under Section 1(c) of Article FOURTH of the Current Charter in the absence
of the prescribed vote of the holders of such series to the contrary and
"Merger" means the merger of a wholly owned subsidiary of the Company with and
into Maxim Pharmaceuticals Inc. ("Maxim") pursuant to that certain Agreement and
Plan of Merger (the "Merger Agreement") among the Company, Maxim Acquisition
Corp. and Maxim dated as of September ___, 2005.

          (d) Delivery of Certificates. As soon as is practicable after any
exercise of this Warrant, the Company, at its own expense, will deliver to the
registered holder hereof one or more certificates representing the securities to
which such holder is entitled in respect of such exercise, together, in the case
of any partial exercise, with a new Warrant representing the unexercised portion
hereof.

          (e) Fractional Shares. In the event that any exercise of this Warrant
would, but for the provisions of this Section 2(e), result in the issuance of
any fractional share of capital stock, then in lieu of such fractional share,
such shares shall be rounded up to the nearest whole number of shares of capital
stock.

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          (f) Effective immediately prior to the Effective Time of the Merger,
without further act on the part of the Holder, this Warrant shall be deemed to
be exercised for the number of shares of Common Stock calculated pursuant to
Section 1(b)(v) hereof. Payment of the Exercise Price shall be deemed paid with
the outstanding principal of and accrued and unpaid interest on such Holder's
Notes, with any excess being converted into Common Stock of the Company pursuant
to the terms of the Notes.

     4. Payment of Exercise Price. The Exercise Price may be paid at the
holder's election either (a) by cash, certified or official bank check payable
to the order of the Company, or wire transfer to its account, or by application
or a portion of the outstanding principal and accrued interest on such Holder's
Notes, or by the net issuance method as described below:

          (i) If the Warrant Stock is Next Round Preferred Stock or Optional
Conversion Preferred Stock , then prior to the Automatic Conversion Effective
Time (as defined in Section 7 hereof), the Company shall issue Warrant Stock
under the net issuance method in accordance with the following formula:

               X = (Y)(A-B)/A

     Where:    X = the number of shares of Warrant Stock to be issued to the
                   holder

               Y = the number of shares of Warrant Stock requested to be
                   exercised under this Warrant

               A = the current fair market value of one (1) share of Warrant
                   Stock

               B = the Exercise Price

     As used herein, the current fair market value of a share of Warrant Stock
shall mean the price per share which the Company could obtain from a willing
buyer (not a current employee or director) for shares of Warrant Stock, as
determined in good faith by the Company's Board of Directors (with the agreement
of at least one of the directors designated by TVM or Merlin, provided, that
designees of TVM and Merlin are directors at such time), unless the Company
shall become subject to a merger, consolidation or other acquisition pursuant to
which the holders of Warrant Stock receive securities and/or other property in
exchange for their Warrant Stock, in which case the fair market value of Warrant
Stock shall be deemed to be the value (determined in good faith by the Company's
Board of Directors (with the agreement of at least one of the directors
designated by TVM or Merlin, provided, that designees of TVM and Merlin are
directors at such time)) of the securities and other property received by the
holders of the Company's Warrant Stock per share of Warrant Stock pursuant to
such merger, consolidation or other acquisition.

          (ii) If the Warrant Stock is Common Stock, or if this Warrant is
exercised either upon or after the Automatic Conversion Effective Time, the
Company shall issue Common Stock under the net issuance method in accordance
with the following formula:

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               X = (Y)(A-B)/A

     Where:    X = the number of shares of Common Stock to be issued to the
                   holder

               Y = the number of shares of Common Stock requested to be
                   exercised under this Warrant

               A = the current fair market value of one (1) share of Common
                   Stock

               B = the Exercise Price

     As used herein, current fair market value of Common Stock shall mean with
respect to each share of Common Stock:

               (A) if the exercise is in connection with the Company's initial
public offering of Common Stock, and if the Company's registration statement
relating to such public offering has been declared effective by the Securities
and Exchange Commission, then the initial "Price to Public" specified in the
final prospectus with respect to the offering;

               (B) if this Warrant is exercised after, and not in connection
with, the Company's initial public offering of Common Stock and

                    (1) if the Common Stock is traded on a national securities
exchange or quoted on the Nasdaq Stock Market, the fair market value shall be
deemed to be the average of the closing prices over a twenty-one (21) day period
ending three days before the day the current fair market value of the Common
Stock is being determined; or

                    (2) if the Common Stock is not listed on a national
securities exchange or quoted on the Nasdaq Stock Market but is actively traded
over-the-counter, the fair market value shall be deemed to be the average of the
closing bid and asked prices reported by the National Quotation Bureau (or
similar system) over the twenty-one (21) day period ending three days before the
day the current fair market value of the Common Stock is being determined;

               (C) if at any time the Common Stock is not listed on any national
securities exchange or quoted on the Nasdaq Stock Market or actively traded in
the over-the-counter market, the current fair market value of Common Stock shall
be the price per share which the Company could obtain from a willing buyer (not
a current employee or director) for shares of Common Stock sold by the Company,
from authorized but unissued shares, as determined in good faith by its Board of
Directors, unless the Company shall become subject to a merger, consolidation or
other acquisition pursuant to which the holders of Common Stock receive
securities and/or other property in exchange for their Common Stock, in which
case the fair market value of Common Stock shall be deemed to be the value
(determined in good faith by the Company's Board of Directors (with the
agreement of at least one of the directors designated by TVM or Merlin,
provided, that designees of TVM and Merlin are directors at such time)) of the
securities and other property received by the holders of the Company's Common
Stock per share of Common Stock pursuant to such merger, consolidation or other
acquisition;

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     5. Adjustment for Reorganizations, Etc.

          (a) Certain Adjustments.

          (i) If the Warrant Stock is Next Round Preferred Stock or Optional
Conversion Preferred Stock, then in case at any time or from time to time prior
to the exercise of this Warrant but before the Automatic Conversion Effective
Time, the Company effects an "Extraordinary Warrant Stock Event" (as hereafter
defined), then in each such case, (A) the number of shares of Warrant Stock
purchasable hereunder shall be adjusted to the number obtained by multiplying
the number of shares of Warrant Stock purchasable hereunder immediately before
such Extraordinary Warrant Stock Event by a fraction, the numerator of which
shall be the number of shares of Warrant Stock outstanding (excluding treasury
stock) immediately after such Extraordinary Warrant Stock Event and the
denominator of which shall be the number of shares of Warrant Stock outstanding
(excluding treasury stock) immediately before such Extraordinary Warrant Stock
Event, and (B) the Exercise Price shall be adjusted to the number obtained by
multiplying the Exercise Price in effect immediately before such Extraordinary
Warrant Stock Event by a fraction, the numerator of which shall be the number of
shares of Warrant Stock outstanding (excluding treasury stock) immediately
before such Extraordinary Warrant Stock Event and the denominator of which shall
be the number of shares of Warrant Stock outstanding (excluding treasury stock)
immediately after such Extraordinary Warrant Stock Event, in each case subject
to further adjustment thereafter as provided herein. The term "Extraordinary
Warrant Stock Event" shall mean (x) the issuance of additional shares of Warrant
Stock as a dividend or other distribution on outstanding Warrant Stock, (y) the
subdivision of outstanding shares of Warrant Stock into a greater number of
shares of Warrant Stock, or (z) the combination of outstanding shares of Warrant
Stock into a smaller number of shares of Warrant Stock.

          (ii) In case at any time or from time to time prior to the exercise of
this Warrant but after the Automatic Conversion Effective Time, the Company
effects an "Extraordinary Common Stock Event" (as hereafter defined), then in
each such case, (A) the number of shares of Common Stock purchasable hereunder
shall be adjusted to the number obtained by multiplying the number of shares of
Common Stock purchasable hereunder immediately before such Extraordinary Common
Stock Event by a fraction, the numerator of which shall be the number of shares
of Common Stock outstanding (excluding treasury stock) immediately after such
Extraordinary Common Stock Event and the denominator of which shall be the
number of shares of Common Stock outstanding (excluding treasury stock)
immediately before such Extraordinary Common Stock Event, and (B) the Exercise
Price shall be adjusted to the number obtained by multiplying the Exercise Price
in effect immediately before such Extraordinary Common Stock Event by a
fraction, the numerator of which shall be the number of shares of Common Stock
outstanding (excluding treasury stock) immediately before such Extraordinary
Common Stock Event and the denominator of which shall be the number of shares of
Common Stock outstanding (excluding treasury stock) immediately after such
Extraordinary Common Stock Event, in each case subject to further adjustment
thereafter as provided herein. The term "Extraordinary Common Stock Event" shall
mean (x) the issuance of additional shares of Common Stock as a dividend or
other distribution on outstanding Common Stock, (y) the subdivision of
outstanding shares of Common Stock into a greater number of shares of Common

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Stock, or (z) the combination of outstanding shares of Common Stock into a
smaller number of shares of Common Stock.

          (iii) Subject to earlier termination of this Warrant upon a Sale of
the Company or the Merger, in case at any time or from time to time prior to the
exercise of this Warrant, the Company (A) effects a capital reorganization,
reclassification or recapitalization, or (B) consolidates with or merges with or
into any other person or entity, then in each such case, the registered holder
of this Warrant, upon exercise hereof at any time after or simultaneously with
the consummation of such reorganization, reclassification, recapitalization,
consolidation or merger, as the case may be, will receive, in lieu of the
securities issuable upon such exercise before such consummation or effective
date, the other securities, cash, and/or property to which such holder would
have been entitled upon such consummation or in connection with such
dissolution, as the case may be, if such holder had exercised this Warrant
immediately prior thereto, all subject to further adjustment thereafter as
provided herein.

          (b) Appointment of Trustee for Warrant Holders Upon Dissolution. In
the event of any dissolution of the Company, the Company, prior to such
dissolution, will, at its expense, deliver or cause to be delivered the
securities, property, and/or cash receivable by the registered holder of this
Warrant after the effective date of such dissolution pursuant to this Section 5
to a bank or trust company having its principal office in Delaware, as trustee
for the registered holder of this Warrant.

          (c) Continuation of Terms. Subject to earlier termination of this
Warrant upon a Sale of the Company or the Merger, upon any reorganization,
consolidation or merger referred to in this Section 5, this Warrant will
continue in full force and effect and the terms hereof will be applicable to the
securities, cash, and/or property receivable on the exercise of this Warrant
after or simultaneously with the consummation of such reorganization,
consolidation or merger and will be binding upon the issuer of any such stock or
other securities.

     6. No Dilution or Impairment. The Company will not, by amendment of its
Certificate of Incorporation (as amended and/or restated from time to time, the
"Certificate of Incorporation") or through any reorganization, transfer of
assets, consolidation, merger, dissolution, issue or sale of securities, or any
other action, 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 registered holder
of this Warrant against dilution. Without limiting the generality of the
foregoing, the Company will take all such action as may be necessary or
appropriate in order that the Company may validly and legally issue fully paid
and nonassessable shares of stock upon exercise of this Warrant from time to
time.

     7. Automatic Conversion of the Warrant Stock. If the Warrant Stock is Next
Round Preferred Stock or Optional Conversion Preferred Stock and at any time the
issued and outstanding shares of the Warrant Stock shall be automatically
converted into shares of Common Stock under the terms of the Certificate of
Incorporation, then upon and after the effective time of such automatic
conversion of the Warrant Stock (the "Automatic Conversion Effective Time"), the
right to purchase Warrant Stock granted herein shall terminate, and this Warrant
shall represent the right to purchase a number of shares of Common Stock
calculated as follows:

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               X = (Y) (Z)

     Where:    X = the number of shares of Common Stock purchasable under this
                   Warrant upon and after such Automatic Conversion Effective
                   Time

               Y = the number of shares of Warrant Stock purchasable under this
                   Warrant immediately prior to such Automatic Conversion
                   Effective Time

               Z = the number of shares of Common Stock issuable upon conversion
                   of each share of Warrant Stock immediately prior to such
                   Automatic Conversion Effective Time

and the Exercise Price per share of Common Stock shall be a price calculated as
follows:

               A = (B) (X) /Y

     Where:    A = the Exercise Price per share of Common Stock upon and after
                   such Automatic Conversion Effective Time

               B = the Exercise Price per share of Warrant Stock immediately
                   prior to such Automatic Conversion Effective Time

               X = the number of shares of Warrant Stock purchasable under this
                   Warrant immediately prior to such Automatic Conversion
                   Effective Time

               Y = the number of shares of Common Stock purchasable under this
                   Warrant upon and after such Automatic Conversion Effective
                   Time

Thereafter, the number of shares of Common Stock purchasable hereunder and the
Exercise Price per share shall be subject to adjustment for the types of events
described in Section 5 above that occur with respect to the Common Stock.

     8. Notices of Record Date, Etc. In the event from time to time of any
proposed or contemplated:

          (a) taking by the 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 or other distribution, or 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;

          (b) capital reorganization of the Company, any reclassification or
recapitalization of the capital stock of the Company, or any transfer of all or
substantially all the assets of the Company to, or any consolidation or merger
of the Company with or into, any other person or entity; or

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          (c) voluntary or involuntary dissolution, liquidation, or winding-up
of the Company;

then, and in each such event the Company will mail or cause to be mailed to the
registered holder of this Warrant a notice specifying (i) the date on which any
such record is to be taken for the purpose of such dividend, distribution, or
right, and stating the amount and character of such dividend, distribution, or
right, or (ii) the date on which any such reorganization, reclassification,
recapitalization, transfer, consolidation, merger, dissolution, liquidation, or
winding-up is anticipated to take place and the time, if any is to be fixed, as
of which the holders of record of any class or series of the Company's capital
stock or other securities will be entitled to exchange such stock or other
securities for other securities, cash, and/or other property deliverable on such
reorganization, reclassification, recapitalization, transfer, consolidation,
merger, dissolution, liquidation, or winding-up. Such notice will be mailed at
least twenty (20) days prior to the earliest date specified in such notice on
which any such action or transaction is to be taken or consummated.

     9. Reservation of Securities Issuable on Exercise of Warrant. The Company
at all times and from time to time will reserve and keep available, solely for
issuance and delivery on the exercise of this Warrant, the quality and
quantities of securities from time to time issuable upon exercise of this
Warrant. If at any time the Company does not have sufficient authorized
securities to comply with the foregoing sentence, the Company promptly will take
all steps (including, without limitation, amending the Certificate of
Incorporation) necessary to provide the quality and quantity of securities
sufficient to effect the exercise in full of this Warrant.

     10. Warrant Agent. The Company may, by written notice to the registered
holder of this Warrant, appoint an agent having an office in Delaware for the
purpose of issuing securities upon exercise of this Warrant, exchanging or
replacing this Warrant, or any of the foregoing, and thereafter any such
issuance, exchange, or replacement as the case may be, will be made at such
office by such agent.

     11. Transfer and Exchange of Warrant.

          (a) Transfer. Subject to evidence of compliance with the Securities
Act of 1933, as amended, (the "Securities Act"), and applicable state securities
laws, this Warrant may be transferred or succeeded to by any person; provided,
however, that the Company is given written notice at the time of such transfer
stating the name and address of the transferee.

          (b) Exchange. Upon surrender of this Warrant for transfer or exchange,
a new Warrant or new Warrants of the same tenor and exercisable for the same
aggregate number of shares of Warrant Stock as the Warrant so surrendered will
be issued to, and registered in the name of, the transferee or transferees. The
Company may treat the person in whose name this Warrant is registered as the
holder hereof for all purposes.

     12. Compliance with Securities Act. The holder hereof, by acceptance
hereof, agrees that this Warrant is being acquired for investment for its own
account and not with a view towards its distribution and that the holder hereof
will not offer, sell or otherwise dispose of this Warrant or shares of capital
stock of the Company issued upon exercise of this Warrant except

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under circumstances which will not result in a violation of the Securities Act
and applicable state securities laws. The holder hereof, by acceptance hereof,
represents that such holder is an "Accredited Investor" within the meaning of
Rule 501 promulgated under this Securities Act 1933, as amended.

     13. Captions. The captions of sections or subsections of this Warrant are
for reference only and will not affect the interpretation or construction of
this Warrant.

     14. Equitable Relief. The Company hereby acknowledges that any breach by it
of its obligations under this Warrant would cause substantial and irreparable
damage to the registered holder hereof and that money damages would be an
inadequate remedy therefor, and accordingly, acknowledges and agrees that, in
addition to any other rights and remedies to which the registered holder hereof
may be entitled in respect of any breach of such obligations, such holder will
be entitled to an injunction, specific performance and/or other equitable relief
to prevent the breach of such obligations.

     15. Waivers. No waiver of any breach or default hereunder will be valid
unless in a writing signed by the registered holder hereof. No failure or other
delay by the registered holder hereof exercising any right, power, or privilege
hereunder will be or operate as a waiver thereof, nor will any single or partial
exercise thereof preclude any other or further exercise thereof or the exercise
of any other right, power, or privilege.

     16. Governing Law. This Warrant will be governed by and interpreted and
construed in accordance with the internal laws of the State of Delaware (without
reference to principles of conflicts or choice of law).

     17. Supercedes Prior Warrants. This Warrant supercedes and replaces a
certain (i) Third Amended and Restated Stock Purchase Warrant (No. P-23) of even
date herewith (the "Third Amended Warrant"), (ii) Second Amended and Restated
Preferred Stock Purchase Warrant of even date herewith (the "Second Amended
Warrant"), (iii) Amended and Restated Preferred Stock Purchase Warrant of even
date herewith (the "First Amended Warrant") and (iv) Preferred Stock Purchase
Warrant of even date herewith (the "Original Warrant"), each issued by the
Company to the Holder. By countersigning this Warrant on the signature page
hereof, the undersigned consents and agrees to all amendments to the Third
Amended Warrant, the Second Amended Warrant, the First Amended Warrant and the
Original Warrant contained in this Warrant and the undersigned acknowledges that
the Third Amended Warrant, the Second Amended Warrant, the First Amended Warrant
and the Original Warrant are no longer outstanding or obligations of the
Company.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       11
<PAGE>
     Executed and delivered under seal on and as of the date first above
written.

MAXIMUM NOTE PRINCIPAL: $____________   EPICEPT CORPORATION

                                        By:
                                            ------------------------------------
                                                                     (signature)
                                        Name:
                                              ----------------------------------
                                                                       (printed)
                                        Its: Chief Financial Officer
                                                                         (title)

ACCEPTED AND AGREED:

[NAME OF HOLDER]

By:
    ---------------------------------
                          (signature)
Name:
      -------------------------------
                            (printed)
Title:
       ------------------------------
                              (title)
<PAGE>
                                SUBSCRIPTION FORM

     The undersigned, the registered holder of the within Fourth Amended and
Restated Preferred Stock Purchase Warrant, hereby elects to exercise the
purchase right represented by such Warrant as follows:

___  The undersigned hereby elects to purchase ________ shares of Warrant Stock
     (as defined in this Warrant) and herewith makes payment of $____________
     therefor.

___  The undersigned hereby elects to exercise this Warrant by the net issuance
     method described in Section 4 of this Warrant and to receive __________
     shares of Warrant Stock (as defined in this Warrant).

     The undersigned further requests that the certificates representing such
shares be issued in the name of and delivered to
_____________________________________ and if such shares shall not include all
of the shares issuable under this Warrant, that a new Warrant of like tenor and
date be delivered to the undersigned for the shares not issued.

Dated: ____________________             ________________________________________
                                        Name of Registered Holder<PAGE>
                                                                     Exhibit 4.7

                                                                  EXECUTION COPY

                                    AMENDMENT

          THIS AMENDMENT (this "AMENDMENT") to the Stock Purchase Warrant dated
as of November 30, 2000 (the "STOCK PURCHASE WARRANT"), is made and entered into
as of August 26, 2005 by and among EpiCept Corporation, a Delaware corporation
(the "COMPANY"), and Private Equity Direct Finance (successor in interest to
Private Equity US Direct Finance) (the "HOLDER"). Capitalized terms used herein
without definition shall have their respective meanings assigned in the Stock
Purchase Warrant.

          WHEREAS, the Company issued the Stock Purchase Warrant to the Holder
in connection with a convertible term note in the aggregate principal amount of
$2,000,000 in November 2000; and

          WHEREAS, the Company and the Holder desire to amend the Stock Purchase
Warrant to provide for the automatic exercise of such warrant by the net
issuance method described in the Stock Purchase Warrant immediately prior to the
Effective Time (as defined in the Merger Agreement) of the merger (the "MERGER")
of a wholly owned subsidiary of the Company with and into Maxim Pharmaceuticals,
Inc. ("MAXIM") pursuant to an Agreement and Plan of Merger among the Company,
Magazine Acquisition Corp. and Maxim (the "MERGER AGREEMENT").

          NOW, THEREFORE, the parties hereto, in consideration of the premises
and their mutual covenants and agreements herein set forth, and intending to be
legally bound hereby, covenant and agree as follow:

                                    ARTICLE 1

                                   AMENDMENTS

     1.1 Amendment to Title. The title of the Stock Purchase Warrant is hereby
amended in its entirety to read as follows:

          "Amended and Restated Stock Purchase Warrant."

     1.2 Amendment to Section 1. A new Section 1(f) is hereby added to Section 1
to read as follows:

          "(f) Effective immediately prior to the Effective Time of the Merger,
          without further act on the part of the Holder, this Warrant shall be
          deemed to be exercised for the number of shares of Common Stock
          calculated pursuant to Section 6 hereof. Payment of the Exercise Price
          shall be deemed made by the net issuance method described in Section
          3(b) hereof."

     1.3 Amendment to Section 3. A new clause (iv) is hereby added to the last
paragraph of Section 3 to read as follows:

          "In connection with a deemed exercise of this Warrant upon
     consummation of the Merger, the current fair market value of Common Stock
     shall be $1.81."
<PAGE>
                                    ARTICLE 2

                                  MISCELLANEOUS

     2.1 Counterparts. This Amendment may be executed in more than one
counterpart, each of which shall be deemed to be an original and which,
together, shall constitute one and the same instrument Any such counterpart may
contain one or more signature pages.

     2.2 Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND
ENFORCED IN ACCORDANCE WITH, THE SUBSTANTIVE LAWS OF THE STATE OF DELAWARE,
WITHOUT REGARD TO ITS PRINCIPLES OF CONFLICTS OF LAW.

     2.3 Confirmation. This Amendment and the Convertible Notes shall henceforth
be read together. Except as expressly set forth herein, the Convertible Notes
shall remain unchanged and is in all respect confirmed and preserved.

     2.4 Severability. In case any provision in this Amendment shall be held
invalid, illegal, or unenforceable in any respect for any reason, the validity,
legality, and enforceability of any such provision in every other respect and
the remaining provisions shall not in any way be affected or impaired thereby.

     2.5 Facsimile Signatures. This Amendment may be executed and delivered by
facsimile and upon such delivery the facsimile signature will be deemed to have
the same effect as if the original signature had been delivered to the other
party.

     2.6 Headings. Article, section and subsection headings in this Amendment
are included for convenience of reference only and shall not constitute a part
of this Amendment for any other purpose.

                                      *****

            [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK]
<PAGE>
     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed as of the date first written above.

                                        THE COMPANY:

                                        EPICEPT CORPORATION

                                        By: /s/ John V. Talley
                                            ------------------------------------
                                        Name: John V. Talley
                                        Title: Chief Executive Officer
<PAGE>
PRIVATE EQUITY DIRECT FINANCE

By: /s/ Rick Gorter and Gwen McLaughlin
    -----------------------------------
Name: Rick Gorter and Gwen McLaughlin
Title: Directors

Address:

P.O. Box 847GT
Grand Cayman
Cayman Islands

                               EPICEPT CORPORATION
                AMENDMENT TO THE PRIVATE EQUITY SERIES C WARRANT
                                 SIGNATURE PAGE

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