Document:

BEMA Acquisition Consent

 Exhibit 10.17 
 BEMA ACQUISITION CONSENT, AMENDMENT, AND WAIVER 
 This BEMA ACQUISITION CONSENT, AMENDMENT, AND
WAIVER (the “Consent”) is entered this September 5, 2007 (the “Consent Date”) by BioDelivery Sciences International, Inc. (“BDSI”), its wholly-owned subsidiary Arius Pharmaceuticals, Inc. (“Arius”),
BDSI’s wholly-owned subsidiary Arius Two, Inc. (“Arius Two”), and CDC IV, LLC (“CDC”) 
 WHEREAS, Arius, BDSI and
CDC are parties to that certain Clinical Development and License Agreement, dated July 14, 2005, as amended (the “CDC License”), and Security Agreement, dated February 15, 2006, as amended (the “Security Agreement”),
under which CDC has certain rights with respect to certain intellectual property rights and assets related to Arius’ BEMA Fentanyl product; 
 WHERAS, Arius and QLT USA, Inc. (“QLT”) are parties to that certain License Agreement, dated May 27, 2004, as amended July 14, 2005 and August 2, 2006, concerning rights in the United States to QLT’s BEMA
technology (such agreement, the “QLT License”); 
 WHEREAS, Arius Two intends to acquire all of QLT’s right, title, and
interest in QLT’s BEMA-related assets concerning the United States, as fully contemplated by the form of Intellectual Property Assignment Agreement between QLT and Arius Two attached hereto, with all of its exhibits and related agreements, as
Exhibit A (collectively, all of the foregoing, the “Acquisition Agreements”); 
 WHEREAS, upon acquisition of the assets and
rights to be acquired under the Acquisition Agreements (such assets, the “Acquired Assets”), Arius and QLT shall terminate the QLT License, and Arius Two intends to immediately grant Arius an exclusive license in the United States under
the Acquired Assets (and in Canada and Mexico under certain BEMA assets acquired pursuant to that certain Intellectual Property Assignment Agreement between QLT and Arius Two dated August 2, 2006) in the form attached hereto as Exhibit B
(the “New License”). 
 WHEREAS, the CDC License and Security Agreement do not currently contemplate or permit Arius Two’s
acquisition of the rights referenced above as contemplated by the Acquisition Agreements or Arius Two’s granting of rights under the New License to Arius; 
 WHEREAS, CDC wishes to enable Arius Two to enter into the Acquisition Agreements, acquire the Acquired Assets, and enter into the New License by executing this Consent; and 
 WHEREAS, the parties desire to amend the CDC License as set forth herein. 
 NOW THEREFORE, in consideration of the foregoing premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties to this Consent agree as follows:

 1. Definitions. Any capitalized terms not separately defined in this Consent or by reference to the New License
shall have the meaning provided in the CDC License. 
 2. Executed Acquisition Agreements. Attached hereto as Exhibit A is a final and complete
copy of the Acquisition Agreements, together with final and complete copies of all other agreements entered into between BDSI, Arius or any of their affiliates and QLT in connection with the acquisition of the Acquired Assets. Except for the
Acquisition Agreements, there are no other agreements, side letters or other understandings between BDSI, Arius, or any of their affiliates and QLT related to the subject matter thereof (with the exception of the QLT License, which shall be
terminated upon Arius Two’s acquisition of the Acquired Assets). The parties acknowledge and agree that the consent of CDC is subject to the foregoing statements being true and correct. 
 3. Consents and Waivers. 
 3.1 CDC. Effective
upon the execution of the Acquisition Agreements, CDC agrees, notwithstanding anything to the contrary in the CDC License or Security Agreement, that (i) BDSI’s obligations under Section 8.2.19 of the CDC License shall not apply to
the Acquisition Assets or Arius Two’s interest in the New License and (ii) the Acquired Assets and Arius Two’s interest in the New License may be held and/or owned by Arius Two in lieu of Arius. CDC consents (i) under
Section 8.5.1 of the CDC License to (a) Arius Two’s granting of a security interest in the Collateral (as defined in the Acquisition Agreements) to QLT pursuant to the Acquisition Agreements (subject to the amendments referenced in
(iv) below) and (b) any future transfer of any or all of the Collateral to an Arius Two Assignee (as defined below) as a result of QLT exercising its remedies with respect to such Collateral under the Acquisition Agreements (provided,
however, that such consent shall terminate upon the termination of the security interest created in favor of QLT under the Acquisition Agreements), (ii) under Section 8.5.2 of the CDC License to Arius Two’s purchase of the Acquired
Assets as contemplated by the Acquisition Agreements, (iii) under Section 8.2.16 of the CDC License to the amendment of that certain BEMA License Agreement, dated August 2, 2006, between Arius Two and Arius, as amended (the
“Ex-US License”) pursuant to the form of amendment attached hereto as Exhibit C, (iv) under Section 8.2.16 of the CDC License, and otherwise, to the amendment and restatement of (a) that certain Security
Agreement, between BDSI, Arius, and QLT, dated August 2, 2006, (b) that certain Security Agreement included in the Acquisition Agreements, (c) that certain Patent and Trademark Security Agreement, between BDSI, Arius, and QLT, dated
August 2, 2006, and (d) that certain Patent and Trademark Security Agreement included in the Acquisition Agreements; pursuant to the forms of amendments and restatements thereof attached hereto as Exhibit D, (v) under
Section 8.2.16 of the CDC License to the termination of the Atrix License in connection with Arius Two’s acquisition of the Acquired Assets and execution of the New License with Arius, and (vi) to Arius Two’s granting of rights
to Arius under, and execution of, the New License. 
 3.2 By Arius Two. Subject to Section 5 of this Consent, Arius Two hereby
consents to the sublicense and/or assignment by Arius and the grant to CDC by Arius of a security interest in Arius’ rights in and to the, as the following are defined in the New License, Fentanyl Product and related Clinical Documentation and
Results, Governmental Approvals, Books and Records, 

  

 2 

 
Marketing Authorizations, and Know-How to the extent relating solely to the Territory, on and subject to the terms set out in the New License, this Consent,
the CDC License, and Security Agreement. 
 4. CDC License Amendment. Effective upon execution of the Acquisition Agreements and New License, the CDC
License shall be amended by: 
  

	 	a.	Replacing the phrase “Arius Two Agreement” where it appears with the phrase “Arius Two License”. 

  

	 	b.	Adding the following at the end of Article 1: 

 “1.66
“US Arius Two Assignee” means a party, other than an Affiliate of the Company or Arius Two, assuming the rights and obligations of Arius Two under the US Arius Two License as a result of QLT exercising its remedies under that
certain Security Agreement between QLT and Arius Two dated September     , 2007 (the “US QLT Security Agreement”) with respect to the Collateral (as defined in the US QLT Security Agreement).” 
 “1.67 “US Arius Two License” means that certain BEMA License Agreement between Arius Two and Subsidiary, dated September 5,
2007.” 
  

	 	c.	Removing the phrase “Atrix License or” and inserting the phrase “or US Arius Two License” following the phrase “Arius Two License” in Section 1.9;

  

	 	d.	Replacing the phrase “Atrix License” with the phrase “Arius Two License and US Arius Two License” in Section 4.1.2; 

  

	 	e.	Replacing the phrase “Atrix License” with the phrase “Arius Two License and US Arius Two License” in Section 8.2.16; 

  

	 	f.	Replacing the phrase “Atrix License” with the phrase “Arius Two License and US Arius Two License” in Section 8.2.18; 

  

	 	g.	Removing the phrase “Atrix License or” and inserting the phrase “or US Arius Two License” following the phrase “or Arius Two License” in
Section 10.4.5; and 

  

	 	h.	Deleting the first sentence of Section 10.5.3 in its entirety and replacing it with the following: 

 “Company shall grant to CDC an exclusive (even as to Company and its Affiliates) worldwide right and license, with the right to sublicense, under the
Company Intellectual Property to make, have made, develop, manufacture, use, sell, offer for sale, and have sold Compound and/or Product on an exclusive, royalty-free basis (subject to the terms and conditions and payment obligations under the Arius
Two License, and US Arius Two License (provided, however, 

  

 3 

 
that such license shall only be subject to such terms, conditions, and payment obligations under (i) the Arius Two License to the extent such Arius Two
License has been assigned to an Arius Two Assignee and (ii) the US Arius Two License to the extent such US Arius Two License has been assigned to a US Arius Two Assignee)); provided, however that no assignment, license or transfer to CDC under
this Section 10.5.3 shall be required of the Company with respect to intellectual property or related assets to the extent that Atrix or Arius Two has terminated the right of the Company to such intellectual property or related assets.”

  

	 	i.	Deleting the language of Section 1.7 in its entirety and replacing it with “[DELETED]”. 

 5. CDC Covenants under New License. For purposes of this Section 5, all capitalized terms shall have the meaning provided in the New License. In the event that QLT, an affiliate thereof, or any third party
that is not an Affiliate of Arius Two or BDSI assumes the rights and obligations of Arius Two under the New License as a result of QLT exercising its remedies with respect to the Collateral (as defined in the Acquisition Agreements) under the
Acquisition Agreements (such a party assuming such rights and obligations as a result of such exercise, an “Arius Two Assignee”), and such Arius Two Assignee terminates the New License after providing CDC with an opportunity to cure any
Arius or CDC default as provided in the New License, or CDC fails to deliver to the Arius Two Assignee the License Request within the time period set out in Section 2.04(d) of the New License, than CDC agrees and covenants that it will:

  

	 	a.	 comply with the provisions of Section 14.05 of the New License as if it were Arius, including but not limited to the following: (i) neither CDC nor Arius
shall have any right under the New License to practice within the BEMA Patent Rights or use any of the BEMA Technology, (ii) all rights, title or interest in, or other incidents of ownership under, the BEMA Technology and the Marks in the
Territory (as defined in the New License) licensed under the New License shall revert to or shall be transferred by CDC to the Arius Two Assignee and shall become the sole property of the Arius Two Assignee, (iii) all sublicenses granted and
co-marketing and co-promoting agreements executed by Arius or CDC pursuant to Sections 3.02(b) and (c) of the New License shall promptly be assigned to the Arius Two Assignee effective as of the date of the termination of the New License, and
(iv) Arius and CDC shall grant and assign to the Arius Two Assignee all of either parties’ right, title and interest in, to or under all Governmental Approvals, Books and Records, Clinical Documentation and Results, and Marketing
Authorizations to the extent used or useable in the Territory (as defined in the New License) in connection with the Products and all other data, reports, studies, analysis or similar items created or obtained by Arius or CDC in connection with the
development, marketing or commercialization of Products in the Territory (as defined in the New License), provided that, in the event any of the foregoing also relate to the development, marketing, or commercialization of products outside the
Territory (as defined in the New License), Arius and CDC shall, in lieu of the foregoing assignment, grant the 

  

 4 

	 	 
Arius Two Assignee a nonexclusive, perpetual, royalty-free, fully-paid license to the foregoing in the Territory for the sole purpose of developing,
marketing, and commercializing Products in the Territory (as defined in the New License); 

  

	 	b.	release and discharge its security interest under the Security Agreement in all assets to be assigned pursuant to the foregoing. 

 In addition, CDC covenants and agrees that it will not, except as (i) permitted by the New License (as amended pursuant to that certain Sublicensing
Consent between Arius Two and Arius dated September 5, 2007) or (ii) contemplated by any sublicense agreement granting a sublicense thereunder by Arius or CDC, transfer, license, sublicense, or assign, to a third party any of its rights to
the Fentanyl Product or related Governmental Approvals, Books and Records, Clinical Documentation and Results, Marketing Authorizations and Know-How to the extent used or useable in the Territory (as defined in the New License) in connection with
the Products, or its security interest therein (collectively, the “BEMA Assets”); provided, however, the parties hereto agree that CDC may transfer, license, sublicense, assign or grant a security interest in its rights to receive payments
(including without limitation, royalty payments), its rights to receive information related to such payments, and contractual rights related to the enforcement of its right to receive such payments, in each case, in connection with the BEMA Assets.

 The parties agree that (i) QLT shall be deemed a third party beneficiary of this Section 5 for purposes of enforcing this
provision and (ii) this Section 5 shall not be amended without QLT’s prior written consent. The provisions of this Section 5 shall terminate upon the termination of the security interest created in favor of QLT under the
Acquisition Agreements. 
 6. CDC Payments Not Sublicense Revenue. Arius represents and warrants to Arius Two that none of the amounts paid or to be
paid by CDC to Arius under the CDC License are “Sublicense Revenue” as defined in the New License. Based upon and subject to the continued accuracy of the foregoing representation of Arius, Arius Two acknowledges that no amounts are due or
payable by Arius to Arius Two under the New License as a result of Arius’ receipt of payments from CDC under the CDC License. 
 7. License to
Continue in Full Force and Effect. To the extent that the terms of the CDC License or Security Agreement are varied by this Consent, such variations shall be deemed to be lawfully made amendments to the CDC License pursuant to Section 11.5
thereof and to the Security Agreement pursuant to Section 7.1 thereof. Except as they may be modified by this Consent, the CDC License and Security Agreement shall remain unchanged and in full force and effect. 
 8. Representation and Warranty of BDSI, Arius and Arius Two. Each of BDSI, Arius and Arius Two hereby represent and warrant that, prior to consummation of the
transactions contemplated by this Consent, QLT has been provided copies of each of the following transactional documents relating to the transactions contemplated in this Consent in substantially the forms executed by the relevant parties: the New
License; the Acquisition Agreements; that certain Sublicensing Consent, dated as of the date hereof, between Arius, Arius Two, Meda AB and CDC (concerning the grant of a sublicense to Meda AB under the New License); that certain 

  

 5 

 
Second Amendment Agreement, dated as of the date hereof, between Arius, Arius Two, and CDC; that certain letter agreement, dated as of the date hereof,
between QLT and Meda AB; and and that certain letter agreement, dated as of the date hereof, between QLT and CDC (collectively, the “Transaction Documents”). Each of BDSI, Arius and Arius Two further represent and warrant that neither it,
nor any of its affiliates, representatives or agents, have made any statements or representations to QLT that are inconsistent with the terms and provisions of the Transaction Documents. 
 9. Governing Law. This Consent shall be governed by, and construed and enforced in accordance with, the laws of the State of New York, without regard to its conflicts of laws rules. 
 10. Counterparts. This Consent may be executed in two or more counterparts, each of which shall be deemed and original, but all of which together shall constitute
one and the same instrument. Signatures to the Consent may be transmitted via facsimile and such signatures shall be deemed to be originals. 
 [Signature page to follow] 
  

 6 

 IN WITNESS WHEREOF, the parties have executed and delivered this Consent as of September 5, 2007.

  

			
	ARIUS PHARMACEUTICALS, INC.
		
	By:	 	 /s/ Mark A. Sirgo

	Name:	 	Mark A. Sirgo
	Title:	 	President and CEO
	
	BIODELIVERY SCIENCES INTERNATIONAL, INC.
		
	By:	 	 /s/ Mark A. Sirgo

	Name:	 	Mark A. Sirgo
	Title:	 	President and CEO
	
	CDC IV, LLC
		
	By:	 	 /s/ David Ramsey

	Name:	 	David Ramsey
	Title:	 	Partner
	
	ARIUS TWO, INC.
		
	By:	 	 /s/ Mark A. Sirgo

	Name:	 	Mark A. Sirgo
	Title:	 	President and CEO

 SIGNATURE PAGE TO BEMA ACQUISITION CONSENT, AMENDMENT, AND WAIVER 

 EXHIBIT A 
 ACQUISITION AGREEMENTS 

 EXHIBIT B 
 NEW LICENSE 

 EXHIBIT C 
 AMENDMENT TO EX-US LICENSE 

 EXHIBIT D 
 FORMS OF AMENDED AND RESTATED SECURITY AGREEMENTSSublicensing Consent

 Exhibit 10.18 
 CONFIDENTIAL TREATMENT REQUESTED 
 WITH RESPECT TO CERTAIN PORTIONS HEREOF

 DENOTED WITH “***” 
 SUBLICENSING CONSENT AND AMENDMENT 
 This SUBLICENSING CONSENT AND AMENDMENT (the
“Consent”) is entered this September 5, 2007 (the “Consent Date”) by BioDelivery Sciences International, Inc. (“Parent”), its wholly-owned subsidiary Arius Pharmaceuticals, Inc. (“Arius”; with Parent,
“BDSI”), CDC IV, LLC (“CDC”) and Meda AB (“Meda”). 
 WHEREAS, BDSI and CDC are parties to that certain
Clinical Development and License Agreement, dated July 14, 2005, as amended (the “CDC License”), and Security Agreement, dated February 15, 2006, as amended (the “Security Agreement”), under which CDC has certain rights
with respect to certain intellectual property rights and assets of Arius related to Arius’ BEMA Fentanyl product; 
 WHEREAS, Arius and
Parent intend to enter into a licensing agreement with Meda granting Meda rights to develop and commercialize the BEMA Fentanyl product in the United States, Canada, and Mexico, as will be described in a license agreement to be executed between
Arius, Parent, and Meda in a form substantially similar to that attached hereto as Exhibit A (the “Meda License”), such license to be executed simultaneously with or following the execution of this Consent; 
 WHEREAS, the Meda License requires (i) Meda to be granted certain rights under the Program Data (as defined in the CDC License) to market,
advertise, promote, distribute, offer for sale, sell and import Product in the Territory (as defined in the Meda License) and, upon the occurrence of certain events, make, have made and/or research and develop Product for sale in the Territory (as
defined in the Meda License) and (ii) that Meda’s rights shall survive any: (1) termination of the CDC License by CDC pursuant to Section 10.2, 10.3, or 10.4 thereof for which Arius does not exercise its continuation rights under
Section 10.7 of the CDC License, (2) grant of an exclusive license to CDC pursuant to Section 10.5.3 of the CDC License and/or Section 2.04(d) of that certain BEMA License Agreement, between Arius and Arius Two, Inc. (“Arius
Two”), dated September 5, 2007, as amended (the “Arius Two License”), and (3) assignment of certain Arius assets to CDC under the CDC License and/or Security Agreement (such termination, license grant, and assignment, a
“CDC Termination Event”), with such rights granted to Meda pursuant to the Meda License surviving such CDC Termination Event in order to permit Meda to continue the undisturbed enjoyment of such rights under the Meda License; provided,
however that BDSI, Arius and their respective affiliates shall automatically assign (without the need for any further act on the part of any person or entity), and hereby do assign to CDC free and clear of any and all liens and other encumbrances,
upon the occurrence of such CDC Termination Event, all of the rights and benefits of Parent, Arius and any of their respective affiliates under the Meda License (subject to any (i) rights and benefits of an Arius Two Assignee (as such term is
defined in that certain BEMA Acquisition Consent, Amendment, and Waiver dated as of the date hereof between Parent, Arius, Arius Two, and CDC) under the Arius Two License (or any subsequent license entered into by an Arius Two Assignee and CDC
pursuant to Section 2.04(d) of the Arius Two License) and (ii) subsequent assignment of rights and benefits under the Meda License to an Arius Two Assignee from CDC upon an Arius Two Termination Event, as defined in the Arius Two License;
provided further, however, that in no event shall the foregoing assignment impose any costs or other obligations on CDC in excess of those imposed on CDC under the CDC License. 

 CONFIDENTIAL TREATMENT REQUESTED 
 WITH RESPECT TO CERTAIN PORTIONS HEREOF 
 DENOTED WITH “***” 
  

 WHEREAS, the CDC License and Security Agreement do not currently contemplate or permit Arius’
grant to Meda of the rights referenced above on the terms described in the Meda License; and 
 WHEREAS, CDC wishes to enable Arius to enter
into the Meda License in order to maximize the commercial success of the Product (as defined in the CDC License) by executing this Consent. 
 NOW THEREFORE, in consideration of the foregoing premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties to this Consent agree as follows: 
 1. Definitions. Any capitalized terms not separately defined in this Consent or by reference to the Meda License shall have the meaning provided in the CDC
License. 
 2. Executed Meda License. Attached hereto as Exhibit A is a final and complete copy of the Meda License, together with final and
complete copies of all other agreements entered into between Parent, Arius or any of their affiliates and Meda in connection with the Meda License (the “Collateral Documents”, and together with the Meda License, the “Meda Transaction
Documents”). Except for the Meda Transaction Documents attached as Exhibit A, there are no other agreements, side letters or other understandings between Parent, Arius, or any of their affiliates and Meda related to the subject matter of
the Meda License. The parties acknowledge and agree that the consent of CDC is subject to the foregoing statements being true and correct. 
 3. Consents
and Waivers. 
 a. Effective upon the execution of the Meda License, CDC agrees, notwithstanding anything to the contrary in the CDC
License or Security Agreement, that (i) Arius shall be entitled to grant Meda under the Program Data the right to (a) market, advertise, promote, distribute, offer for sale, sell and import Product in the Territory (as defined in the Meda
License) and, upon the occurrence of certain events, (b) make and have made and/or research and develop Product for sale in the Territory (as defined in the Meda License), as contemplated and required by the Meda License, and (ii) upon a
CDC Termination Event (other than a termination caused by material breach of Meda), such rights granted to Meda pursuant to the Meda License shall survive such CDC Termination Event, in order to permit Meda to continue the undisturbed enjoyment of
such rights under the Meda License, and Parent, Arius and their respective affiliates shall automatically assign (without the need for any further act on the part of any person or entity), and hereby do assign to CDC free and clear of any and all
liens and other encumbrances, upon the occurrence of such CDC Termination Event, all of the rights and benefits of BDSI, Arius and any of their respective affiliates under the Meda License (subject to any (i) rights and benefits of any Arius
Two Assignee (or any subsequent license entered into by any Arius Two Assignee and CDC pursuant to Section 2.04(d) of the Arius Two License) and (ii) subsequent assignment of rights and benefits under the Meda License to an Arius Two
Assignee from CDC upon an Arius Two Termination Event); provided further, however, that in no event shall the foregoing assignment impose any costs or other obligations on CDC in excess of those imposed on CDC under the CDC License. 
  

 2 

 CONFIDENTIAL TREATMENT REQUESTED 
 WITH RESPECT TO CERTAIN PORTIONS HEREOF 
 DENOTED WITH “***” 
  

 b. Upon an Arius Two Termination Event following a CDC Termination Event, CDC shall automatically
assign, and hereby does assign, all rights and benefits under the Meda License to Arius Two, free and clear of all liens, claims, and encumbrances, as contemplated by the Meda License. 
 c. CDC hereby agrees that, notwithstanding anything to the contrary, Meda is a Qualified Collaboration Partner for purposes of the CDC License. CDC
consents (a) under Section 8.5.1 of the CDC License to Arius’ granting of rights to Meda as set forth above, (b) under Section 3.5 of the CDC License to Meda as a Qualified Collaboration Partner, and (c) to the
amendment of the Arius Two License pursuant to amendments, consents, and/or waivers with respect thereto to be made in conjunction with the Meda License in substantially the forms attached hereto as Exhibit B. CDC acknowledges and agrees that
Meda has, in Section 9.13 of the Meda License, made the express acknowledgement required by the next-to-last sentence of Section 3.5 of the CDC License. 
 d. For so long as the Meda License is in full force and effect, CDC further hereby amends or waives compliance with (or the applicability of) certain provisions of the CDC License for purposes of enabling BDSI to
enter into the Meda License as further described below. 
 i. Solely with respect to the Territory (as defined in the Meda
License), the parties hereby agree that (a) the definition of “Development Program” shall, except for purposes of Sections 1.11, 1.18, 1.28, 1.36, 1.51, 3.1, 3.4, 5.1, 5.2, 6.4.1, 6.11, and 9.1 (for which the definition of
“Development Program” in the CDC License shall remain as defined prior to the execution of the Meda License), be amended such that it is now the same definition as “Development Program” contained in the Meda License, (b) the
definition of “Development Term” shall be amended so that such term expires on the earlier of (i) the Trigger Date or (ii) the initial Approval of the Product, and (c) the decision-making role of the Development Committee,
including but not limited to with respect to matters related to post-Approval development or commercialization activities, shall terminate upon expiration of the Development Term (as such term is amended above), and BDSI or its sublicensees shall
thereafter be entitled to make Product-related development and commercialization decisions in their discretion (subject to the terms of the Meda License and, as determined with reference to the effects of this Consent, the CDC License); 

ii. Subject to Section 3(d)(xii) below, the parties hereby agree that the efforts of Meda (or its affiliates or sublicensees) with
respect to its (i) post-Approval development of the Product and (ii) the preparation and filing of all required application(s) for Approval in Mexico or Canada (all such activities, “Meda Development Activities”) shall be deemed
the efforts of BDSI for purposes of determining whether BDSI’s obligations under Section 3.1 have been satisfied. 
  

 3 

 CONFIDENTIAL TREATMENT REQUESTED 
 WITH RESPECT TO CERTAIN PORTIONS HEREOF 
 DENOTED WITH “***” 
  

 iii. Subject to Section 3(d)(xiv) below, and solely with respect to the
Territory, the parties hereby agree that Sections 2.2, 3.1, 3.2, 3.3, 6.4.1, 6.4.3, 10.4.1, and 10.4.2 of the CDC License shall terminate on expiration of the Development Term. 
 iv. Subject to Section 3(d)(xii) below, CDC hereby agrees that Meda Development Activities and, upon assignment of any Approval to
Meda, any other activities of Meda (or its affiliates or sublicensees) shall, upon assignment of any Approval to Meda as contemplated by the Meda License, be deemed the activities of BDSI for purposes of determining whether BDSI’s obligations
under Section 4.1.1 have been satisfied to the extent applying to any post-Approval activities with respect to the Product. 
 v. CDC hereby acknowledges and agrees that, notwithstanding anything to the contrary, BDSI shall be entitled to assign, and Meda shall be entitled to be assigned, Approvals as described in the Meda License. 
 vi. Subject to Section 3(d)(xiv) below, CDC hereby agrees, solely with respect to the Territory (as defined in the Meda License),
that its rights under the second and third sentences of Section 4.3 shall not apply to Meda Development Activities or any other meetings with Governmental Authorities following Approval of the Product. 
 vii. Subject to Section 3(d)(xiv) below, CDC hereby agrees, solely with respect to the Territory (as defined in the Meda License)
that BDSI’s obligations under Section 4.5.1 shall terminate upon the expiration of the Development Term. 
 viii.
CDC hereby agrees that, notwithstanding the limitations of Section 5.3.2, BDSI shall be entitled to manufacture and have manufactured Products prior to Approval as necessary to fulfill its obligations under the Supply Agreement (as defined in
the Meda License). 
 ix. Subject to Section 3(d)(xii) below, CDC hereby acknowledges and agrees that the efforts of Meda
shall be deemed the efforts of BDSI for purposes of determining whether BDSI’s obligations under Section 6.1 have been satisfied. 
 x. Subject to Section 3(d)(xiv) below, CDC hereby waives, solely with respect to the Territory (as defined in the Meda License), BDSI’s obligations under Section 6.2 for purposes of the Meda License and
with respect to Meda’s proposed and actual commercialization of Product thereunder. 
 xi. CDC agrees that its rights
under Section 10.5.2, 10.5.3, 10.5.4, 10.5.5, and 10.5.6 shall be subject to Meda’s rights under the Meda License. 
 xii. The parties acknowledge and agree that BDSI’s obligations under the CDC License, as determined with reference to the effects of this Consent, shall not be reduced or otherwise affected by any sublicense by BDSI to Meda under the
Meda License of its rights under the CDLA. 
  

 4 

 CONFIDENTIAL TREATMENT REQUESTED 
 WITH RESPECT TO CERTAIN PORTIONS HEREOF 
 DENOTED WITH “***” 
  

 xiii. CDC acknowledges and agrees that Meda shall be entitled to, in accordance with
Section 11.11 of the Meda License, sublicense the rights granted under the Meda License as permitted by Section 3.02(a) thereof, provided that BDSI, in accordance with its consent rights, shall first provide CDC an opportunity to review
any proposed sublicense and BDSI’s consent to such sublicense shall be subject to CDC’s prior written consent, such consent not to be unreasonably withheld. 
 xiv. The parties hereby acknowledge and agree that BDSI shall be entitled and obligated to provide CDC with all information, materials and
documentation that are generated by or otherwise reside with Meda to same extent that BDSI would have access to or receive such information, materials and documentation from Meda under the Meda License, including, but not limited to, information,
materials and documentation to be provided by Meda to BDSI pursuant to Sections 2.03(b)(ii), 2.04, 2.05, 2.07(d), 3.02(a), 4.06, 5.01(b), 5.01(f), 6.03, 6.04 and 11.05 of the Meda License. 
 xv. Notwithstanding anything to the contrary contained in any agreement between any of BDSI, Meda or CDC, or any of their respective
affiliates, BDSI and Meda acknowledge and agree that any and all information, materials and documentation provided to CDC by Meda or BDSI, or their affiliates, as applicable, may be disclosed by CDC under obligations of confidentiality to agents,
auditors, advisors, contractors and investors and to potential agents, auditors, advisors, contractors and investors in connection with CDC’s financing activities. 
 xvi. The parties hereby agree that Section 3.4 of the CDC License shall be amended to give Meda, in accordance with Section 7.01
of the Meda License, the first right to assume responsibility for the preparation, filing, prosecution or maintenance of any abandoned Company Patent Rights, with CDC receiving information, comment and subsequent step-in rights in accordance with
Section 7.01 of the Meda License. 
 xvii. Except to the extent provided in the Meda License, this Consent, or the
provisions of the CDC Agreement (as modified by this Consent) that expressly apply to sublicensees of BDSI thereunder, CDC hereby waives the requirements of Section 5.3.4 with respect to the licenses granted under the Meda License. 

e. Except to the extent Meda may assign the Meda License under Section 14.01 thereof, the parties acknowledge and agree that during the term of
the Meda License, Meda shall not, without the prior written consent of CDC, such consent not to be unreasonably withheld, sell, license (except as permitted by Section 3.02(a) of the Meda License), encumber or otherwise transfer to a third
party any Approval or Program Data. 
  

 5 

 CONFIDENTIAL TREATMENT REQUESTED 
 WITH RESPECT TO CERTAIN PORTIONS HEREOF 
 DENOTED WITH “***” 
  

 4. Amendments to Meda Transaction Documents. Arius and BDSI agree that they will not enter into any amendment
or otherwise modify any of the Meda Transaction Documents in a manner that would adversely affect the rights of CDC under the CDC License without the prior written consent of CDC (which consent may be withheld at CDC’s sole discretion). The
parties acknowledge and agree that the consent of CDC contained herein is subject to Arius and BDSI agreeing to the foregoing restrictions. 
 5. Net
Sales. Arius and BDSI agree and acknowledge that *** CDC agrees and acknowledges that, notwithstanding anything to the contrary, ***. 
 6.
License to Continue in Full Force and Effect. To the extent that the terms of the CDC License or Security Agreement are varied by this Consent, such variations shall be deemed to be lawfully made amendments to the CDC License pursuant to
Section 11.5 thereof and to the Security Agreement pursuant to Section 7.1 thereof. Except as they may be modified by this Consent, the CDC License and Security Agreement shall remain unchanged and in full force and effect. 
 7. Governing Law. This Consent shall be governed by, and construed and enforced in accordance with, the laws of the State of New York, without regard to its
conflicts of laws rules. 
 8. Counterparts. This Consent may be executed in two or more counterparts, each of which shall be deemed and original, but
all of which together shall constitute one and the same instrument. Signatures to the Consent may be transmitted via facsimile and such signatures shall be deemed to be originals. 
 [Signature page to follow] 
  

 6 

 CONFIDENTIAL TREATMENT REQUESTED 
 WITH RESPECT TO CERTAIN PORTIONS HEREOF 
 DENOTED WITH “***” 
  

 IN WITNESS WHEREOF, the parties have executed and delivered this Consent as of the Consent Date.

  

			
	ARIUS PHARMACEUTICALS, INC.
		
	By:	 	 /s/ Mark A. Sirgo

	Name:	 	Mark A. Sirgo
	Title:	 	President
	
	BIODELIVERY SCIENCES INTERNATIONAL, INC.
		
	By:	 	 /s/ Mark A. Sirgo

	Name:	 	Mark A. Sirgo
	Title:	 	President and CEO
	
	CDC IV, LLC
		
	By:	 	 /s/ David Ramsey

	Name:	 	David Ramsey
	Title:	 	Partner
	
	MEDA AB
		
	By:	 	 /s/ Anders Lonner

	Name:	 	Anders Lonner
	Title:	 	CEO

 CONFIDENTIAL TREATMENT REQUESTED 
 WITH RESPECT TO CERTAIN PORTIONS HEREOF 
 DENOTED WITH “***” 
  

 EXHIBIT A 
 FORM OF MEDA LICENSE 

 CONFIDENTIAL TREATMENT REQUESTED 
 WITH RESPECT TO CERTAIN PORTIONS HEREOF 
 DENOTED WITH “***” 
  

 EXHIBIT B 
 ARIUS TWO LICENSE AMENDMENT/CONSENT

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}]]