Document:

Exhibit 10.46
                                SUPPLY AGREEMENT

This  Agreement  is made and entered  into as of the last day signed  below (the
"Effective  Date") by and between  Hollister-Stier  Laboratories  LLC,  having a
principal  place of business at 3525 North Regal  Street,  Spokane,  Washington,
99207-5788   ("Hollister-Stier")  and  Hemispherx  Biopharma,   Inc.,  having  a
principal  place of business at 1716 John F.  Kennedy  Boulevard,  Philadelphia,
Pennsylvania,   19103  ("Hemispherx"  or  "Client").  Both  Hollister-Stier  and
Hemispherx are referred to herein  individually  as "Party" and  collectively as
the "Parties."

                                WITNESSETH THAT:

WHEREAS,  Client has a commercial interest in the manufacture of the Product (as
hereafter   defined)  and  requests  the  services  of  Hollister-Stier  in  the
manufacturing  of the Product  pursuant with the terms and conditions  contained
herein,  and  Hollister-Stier  desires to  manufacture  the Product on behalf of
Client pursuant to the terms and conditions contained herein;

NOW,  THEREFORE,  in  consideration of the premises and the mutual covenants and
agreements contained herein, the Parties agree as follows:

                                    ARTICLE 1
                                   DEFINITIONS

1.       Certain terms are defined in the text of this Agreement.  In addition,
         as used in this Agreement, the following definitions shall apply:

         1.1.     "Act" shall mean the U.S. Food, Drug and Cosmetics Act of 1934
                  (21 U.S. C.ss.301 et seq.) and the regulations promulgated
                  thereunder, as the same may be amended from time to time.

         1.2.     "Polymer I and Polymer C12U" or "Polymer" shall mean the
                  polymer pharmaceutical starting material of the Product
                  further defined in Specifications.

         1.3.     "Affiliate"  shall mean any individual,  firm,  corporation or
                  other legal entity that  directly or indirectly  controls,  is
                  controlled  by, or is under common  control with, a Party.  As
                  used in the preceding  sentence,  "control" means  possession,
                  whether  direct or  indirect,  of the power to direct or cause
                  the direction of the  management  and policies of such entity,
                  whether  pursuant to the  ownership of voting  securities,  by
                  contract or otherwise.

         1.4.     "Batch"  or  "Lot"  shall  mean  each  separate  and  distinct
                  quantity of Product processed under continuous  conditions and
                  designated by Hollister-Stier with a batch or lot number.

         1.5.     "cGMP   Regulations"   means  the   applicable   current  Good
                  Manufacturing Practices as promulgated by the FDA from time to
                  time under the Act, as presently  codified in 21 CFR Parts 210
                  and 211.

         1.6.     "Certificate of Analysis" or "COA" shall mean a document
                  executed by Hollister-Stier to certify
                  that a Batch or Lot of Product meets the Specifications.

         1.7.     "Client's   Technology   Package"  shall  mean  the  technical
                  information  supplied by Client to  Hollister-Stier  to enable
                  Hollister-Stier to carry out its obligations hereunder.  Items
                  in  Client's  Technology  Package  may  include,  but  are not
                  limited  to,  raw   material   and   manufacturing   component
                  specifications,     intermediate    Product    specifications,
                  analytical  and  microbiological  method  validation  reports,
                  analytical  method  transfer   protocols,   filter  validation
                  reports, and storage specifications.

         1.8.     "Confidential    Information"   shall   mean   any   nonpublic
                  information of  Hollister-Stier  or Client  including  without
                  limitation,   trade  secrets,   business  methods,   operating
                  procedures,  manufacturing methods and processes,  prices, and
                  customer  information,  whether of a written,  oral, or visual
                  nature.

         1.9.     "FDA" shall mean the United States Food and Drug
                   Administration.

         1.10.    "Intellectual   Property"  shall  mean  patents,   copyrights,
                  trademarks,  trade names,  service  marks,  licenses and other
                  intellectual property rights of a Party.

         1.11.    "Master Batch Record" shall mean a written  description of the
                  procedure to be followed by Hollister-Stier in processing of a
                  Batch or Lot of Product,  which description shall include, but
                  not be limited to, a complete  list of all active and inactive
                  ingredients,   components,   weights  and  measures   used  in
                  processing  the  Product  within  the  meaning  of 21 CFR part
                  211.186, or its successor as in effect from time to time.

         1.12.    "Product" shall mean the pharmaceutical product described in
                  the Specifications.

         1.13.     "Quality Systems Agreement" shall mean an agreement to be
                   executed by the Parties relating to quality systems.

         1.14.    "Regulatory  Authority" shall mean any federal,  state, local,
                  or international  regulatory  agency,  department,  bureau, or
                  other governmental agency.

         1.15.    "Specifications" shall mean the performance parameters for the
                  Product.  Specifications may be amended from time to time by
                  written agreement of the Parties.

         1.16.    "Third Party" shall mean any party other than Client or
                  Hollister-Stier and their respective Affiliates.

                                    ARTICLE 2
                         REPRESENTATIONS AND WARRANTIES

2.       The Parties agree to the following representations and warranties:

         2.1.     Each Party represents and warrants to the other as follows:

                  2.1.1.   It has full power and authority to enter into this
                           Agreement and perform its obligations hereunder.

                  2.1.2.   Subject to Section 3.2 of this Agreement, it has such
                           permits,  licenses,  and authorizations of Regulatory
                           Authorities,   including,  with  respect  to  Client,
                           Regulatory  Authorities  with  jurisdiction  over the
                           Product,  as  are  necessary  to own  its  respective
                           properties,  conduct  its  business  and  perform its
                           obligations hereunder.

                  2.1.3.   It is not currently debarred, suspended, or otherwise
                           excluded by the FDA or any other Regulatory Authority
                           from conducting  business and shall not knowingly use
                           in connection with this Agreement the services of any
                           person debarred by the FDA.

         2.2.     Hollister-Stier represents and warrants to Client as follows:

                  2.2.1.   Hollister-Stier   shall   process   the   Product  in
                           compliance in all material  respects with the Quality
                           Systems  Agreement,  the Master Batch Record, the Act
                           and the cGMP Regulations.

                  2.2.2.   The  Product  when  delivered  shall  comply  in  all
                           material respects with the Specifications;  provided,
                           however, that Hollister-Stier shall have no liability
                           to Client or any  Third  Party for any  breach of the
                           foregoing  representation  and warranty to the extent
                           that any such breach is caused in whole or in part by
                           Client or by any materials provided by Client.

                  2.2.3.   The  manufacturing  facilities  for the Product shall
                           conform in all material  respects to the standards of
                           those Regulatory  Authorities with  jurisdiction over
                           such facilities, including, but not limited to, those
                           set forth in the cGMP Regulations.

         2.3.     Client represents and warrants to Hollister-Stier as follows:

                  2.3.1.   Neither  Client's  Technology  Package,  nor  the use
                           thereof by Hollister-Stier,  shall infringe,  violate
                           nor misappropriate the rights of any Third Party.

                  2.3.2    Client   has   all   necessary   rights   to   enable
                           Hollister-Stier  to process the Product for Client in
                           accordance  with the  terms  and  conditions  of this
                           Agreement.

                  2.3.3    All laboratory,  scientific,  technical  and/or other
                           data  submitted by or on behalf of Client  (including
                           Client's Technology Package) relating to the Product,
                           to the best of Client's knowledge,  shall be complete
                           and correct and shall not contain any  falsification,
                           misrepresentation or omission.

                  2.3.4.   All materials supplied by or on behalf of Client for
                           use in processing the Product
                           shall conform to the Specifications.

         2.4.     THE  WARRANTIES  SET FORTH  HEREIN ARE THE SOLE AND  EXCLUSIVE
                  WARRANTIES  MADE BY EITHER  PARTY  UNDER THIS  AGREEMENT,  AND
                  NEITHER PARTY MAKES ANY OTHER WARRANTIES EXPRESS OR IMPLIED OR
                  ARISING BY LAW,  INCLUDING,  BUT NOT  LIMITED  TO, ANY IMPLIED
                  WARRANTY  OF  MERCHANTABILITY  OR  FITNESS  FOR  A  PARTICULAR
                  PURPOSE  OR USE OR  ARISING  FROM THE  COURSE OF  PERFORMANCE,
                  COURSE OF DEALING OR USAGE OF TRADE.

         2.5.     EXCEPT AS NECESSARY TO SATISFY A THIRD PARTY CLAIM INDEMNIFIED
                  UNDER ARTICLE 6 OF THIS AGREEMENT, CLIENT'S SOLE AND EXCLUSIVE
                  REMEDY, AND HOLLISTER-STIER'S SOLE AND EXCLUSIVE LIABILITY AND
                  OBLIGATION FOR ANY BREACH OF A REPRESENTATION AND WARRANTY SET
                  FORTH IN SECTION  2.2 SHALL BE FOR  HOLLISTER-STIER  TO PEFORM
                  ITS  OBLIGATIONS  UNDER  SECTIONS 4.1 AND 4.2 OR UNDER SECTION
                  4.4, AS THE CASE MAY BE.

         2.6      EXCEPT AS NECESSARY TO SATISFY A THIRD PARTY CLAIM INDEMNIFIED
                  UNDER  ARTICLE 6 OF THIS  AGREEMENT,  AND/OR IN THE EVENT OF A
                  BREACH OF THE CONFIDENTIALITY OBLIGATIONS SET FORTH IN ARTICLE
                  9 OF THIS AGREEMENT,  UNDER NO CIRCUMSTANCES WILL EITHER PARTY
                  BE LIABLE  TO THE  OTHER  UNDER  ANY  CONTRACT,  TORT,  STRICT
                  LIABILITY,  NEGLIGENCE OR OTHER LEGAL OR EQUITABLE THEORY, FOR
                  THE COST OF COVER OR FOR ANY INDIRECT, INCIDENTAL,  EXEMPLARY,
                  PUNITIVE OR CONSEQUENTIAL  DAMAGES (INCLUDING LOST PROFITS) IN
                  CONNECTION   WITH  THE  SUBJECT  MATTER  OF  THIS   AGREEMENT,
                  INCLUDING,  WITHOUT  LIMITATION,  THE PRODUCT OR ANY  SERVICES
                  PROVIDED IN CONNECTION  WITH THE PRODUCT,  EVEN IF A PARTY HAS
                  BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

         2.7      EXCEPT AS NECESSARY TO SATISFY A THIRD PARTY CLAIM INDEMNIFIED
                  UNDER  ARTICLE 6 OF THIS  AGREEMENT,  AND/OR IN THE EVENT OF A
                  BREACH OF ITS CONFIDENTIALITY OBLIGATIONS SET FORTH IN ARTICLE
                  9  OF   THIS   AGREEMENT,   UNDER   NO   CIRCUMSTANCES   SHALL
                  HOLLISTER-STIER'S TOTAL LIABILITY TO CLIENT IN CONNECTION WITH
                  THE  SUBJECT  MATTER  OF THIS  AGREEMENT,  INCLUDING,  WITHOUT
                  LIMITATION, THE PRODUCT OR ANY SERVICES PROVIDED IN CONNECTION
                  WITH THE  PRODUCT,  EXCEED THE TOTAL  AMOUNT PAID BY CLIENT TO
                  HOLLISTER-STIER UNDER THIS AGREEMENT.

         2.8      NOTHING SET FORTH IN THIS  AGREEMENT  SHALL  RESTRICT OR LIMIT
                  HOLLISTER-STIER'S  RIGHT TO RECOVER DIRECT DAMAGES,  INCLUDING
                  LOST  PROFITS,  FOR ANY BREACH BY CLIENT OF ITS  OBLIGATION TO
                  PAY THE PRICE FOR DELIVERED PRODUCT IN ACCORDANCE WITH ARTICLE
                  3.

                                    ARTICLE 3
    SUPPLY AND PROCESSING OF PRODUCT; FORECASTS, PURCHASE ORDERS AND PAYMENT

3.       The Parties agree to the following supply and processing provisions:

3.1.  Except  as set forth in the  following  sentence,  Client  shall be solely
responsible   for  obtaining  and  maintaining   all  permits,   licenses,   and
authorizations necessary for Hollister-Stier to process, ship and otherwise deal
with  Product.  Hollister-Stier  shall be solely  responsible  for  securing and
maintaining approval of Hollister-Stier's facility as a registered FDA facility.

3.2 Polymer:

3.2.1Client will supply,  at its expense,  sufficient  quantities  of Polymer to
     Hollister-Stier's  facility  prior to the date of delivery set forth in any
     purchase order to enable Hollister-Stier to meet its obligations hereunder.
     All such  Polymer  shall  conform to the  Specifications.  Title to Polymer
     shall  remain at all  times  with  Client.  Except  as  expressly  provided
     otherwise in Sections  3.2.2,  3.2.3 or 3.2.4,  risk of loss of the Polymer
     shall remain at all times with Client.

3.2.2If  Polymer  is  lost  or  damaged  prior  to  processing  as a  result  of
     Hollister-Stier's  negligent acts or omissions,  Hollister-Stier will allow
     Client a purchase price credit for that number of Batches for which Polymer
     was lost or damaged as its sole  liability  and Client's  sole remedy.  For
     example, if Client has provided  Hollister-Stier with sufficient Polymer to
     process  three  Batches,  and  such  Polymer  is lost or  damaged  prior to
     processing as a result of  Hollister-Stier's  negligent  acts or omissions,
     Hollister-Stier  will  process  three  replacement  Batches at no charge to
     Client  (except that Client shall provide  replacement  Polymer at Client's
     expense).

3.2.3If   Polymer   is  lost  or   damaged   in   processing   as  a  result  of
     Hollister-Stier's negligent acts or omissions, Hollister-Stier will replace
     the spoiled  Batch at no charge to the Client  (except  that  Client  shall
     provide replacement Polymer at Client's expense) as Hollister-Stier's  sole
     liability and Client's sole remedy.

3.2.4In the  event  any  loss or  damage  of  Polymer  is  caused  by the  gross
     negligence or willful misconduct of Hollister-Stier,  as  Hollister-Stier's
     sole  liability  and  Client's  sole  remedy  with  respect  to such  gross
     negligence or willful misconduct Hollister-Stier,  at its option, shall (i)
     reimburse  Client for the documented  actual direct  manufacturing  cost to
     Client of the lost or damaged Polymer or (ii) allow Client a purchase price
     credit equal to the documented actual direct  manufacturing  cost to Client
     of the lost or  damaged  Polymer,  up to a maximum  credit of Five  Hundred
     Thousand Dollars  ($500,000),  which purchase price credit shall be applied
     against future purchase orders of the Product.

3.3.   Client  shall  be  responsible   for  release  of  Product  for  sale  or
distribution.

3.4.  Client shall be  responsible  for any  stability  testing  program for the
Product required by the Act and the cGMP Regulations.

3.5. Client shall be responsible  for  maintaining any retention  samples of the
Product required by the Act and the cGMP Regulations.

3.6.  Client  shall  have  the  right,   upon   reasonable   advance  notice  to
Hollister-Stier,   to  conduct  an  annual   audit  to   observe   and   inspect
Hollister-Stier's  facilities and procedures for processing Product. Such annual
inspections  will be made by no more than four (4) Client  representatives,  who
shall execute confidentiality  agreements as requested by Hollister-Stier.  Each
annual  inspection  shall last no more than two (2) business  days.  During such
inspection,   Client's   representatives   shall   (a)  be   accompanied   by  a
representative of Hollister-Stier,  (b) follow such security and facility access
procedures  as are  reasonably  requested by  Hollister-Stier,  and (c) use good
faith efforts to avoid disrupting Hollister-Stier's operations.

3.7   Unless   specifically   requested   otherwise   by  Client   in   writing,
Hollister-Stier will purchase or manufacture reasonable quantities of components
and raw  materials  (other  than  Polymer,  which will be  supplied by Client in
accordance  with Section 3.3),  based on the estimates set forth in the Forecast
(as defined  below).  If the quantity of Product set forth in any purchase order
deviates from the estimate set forth in the immediately preceding Forecast,  and
Hollister-Stier's reliance thereon causes obsolescence of any such components or
raw materials,  Client shall  reimburse  Hollister-Stier  for its  out-of-pocket
costs  incurred in  association  therewith  (including,  but not limited to, any
out-of-pocket  costs related to returning such component or raw materials to the
vendor or otherwise disposing thereof).

3.8. Forecasts, Purchase Orders, Price, Terms of Payment:

3.8.1. Forecasts:  At least 90 days in advance of Client's  first purchase order
     for Product,  Client shall supply  Hollister-Stier with a written,  rolling
     twelve (12) month forecast of Client's  estimated  requirements for Product
     from Hollister-Stier during such 12 month period (the "Forecast"). Every 90
     days thereafter, Client will update and extend the Forecast to cover the 12
     months  beginning  with the date of such updated  Forecast.  Each  Forecast
     shall include an estimated  number of Batches and requested  delivery dates
     for the 12 months covered by such Forecast. Amounts set forth in a Forecast
     are estimates,  to be used for planning  purposes only, and Forecasts shall
     not constitute purchase orders.

3.8.2. Purchase Orders: Client will provide Hollister-Stier with a firm purchase
     order  at  least  sixty  (60)  days  prior to the  earliest  delivery  date
     specified  in such  purchase  order.  All  purchase  orders will be sent by
     facsimile or electronic mail to the address specified by Hollister-Stier.

3.8.2.1. Each purchase order and any acknowledgment thereof shall be governed by
     the terms of this  Agreement.  In the event a Party uses forms or documents
     to place or accept  purchase  orders that contain terms and conditions that
     are in  addition to or  contrary  to those in this  Agreement,  the Parties
     agree  and  acknowledge  that  such  forms  or  documents  will be used for
     convenience only, and that no terms or conditions set forth therein, except
     with respect to quantity, shall be of any force or effect.  Hollister-Stier
     shall be deemed to have accepted a purchase  order unless it objects within
     ten business days after receiving a purchase  order.  If  Hollister-Stier's
     objection  is based on its belief that it cannot  accommodate  the delivery
     date  requested  in the  purchase  order then the Parties  will agree on an
     alternative delivery schedule.  If Hollister-Stier's  objection is based on
     Hollister-Stier's  inability to supply the quantity of Product set forth in
     the purchase order,  Client may cancel the purchase order without  penalty,
     payment  or  consequence.  Once a  purchase  order is  accepted  or  deemed
     accepted  by  Hollister-Stier,  Hollister-Stier  will  be  required  to use
     commercially  reasonable  efforts to produce  the  quantity  of Product set
     forth in the purchase  order for delivery on the dates(s) set forth in such
     purchase order.

3.8.2.2.  Client  reserves the right to cancel or postpone  any  purchase  order
     after  acceptance  by  Hollister-Stier.  However,  should  Client cancel or
     postpone any purchase order within fourteen (14) calendar days prior to the
     scheduled  delivery date,  Client shall pay  Hollister-Stier a cancellation
     fee  equivalent to 50% of the purchase  price for the Product  described in
     the purchase order.

3.8.3. Price and Shipping:  Client shall pay  Hollister-Stier,  in U.S. dollars,
     the price per quotation 576-2-9-0 attached as Exhibit A annexed hereto. The
     price excludes all taxes, duties,  shipping,  insurance and other expenses.
     Beginning  on the first  anniversary  of the  Effective  Date,  and on each
     succeeding  anniversary  of the  Effective  Date  during  the  term of this
     Agreement,  the  then  current  price  shall  be  increased  by the  annual
     percentage  increase,  if any, for the most recent twelve (12) month period
     for  which  figures  are   available  in  the   "Producer   Price  Index  -
     Pharmaceutical  Preparations"  (code PCU2834) (the "PPI")  published by the
     U.S.  Bureau of Labor  Statistics  (the "BLS") or, if the same is no longer
     published,  the successor  index  published by the BLS that is most similar
     thereto.  If the PPI is discontinued  and not replaced with a corresponding
     or similar  index,  then the Parties  shall,  in good  faith,  agree upon a
     replacement  PPI. Price  increases  shall be effective for all new purchase
     orders placed after the applicable anniversary.  Product shall be delivered
     FOB Hollister-Stier's facility, Spokane, Washington, either freight collect
     or  freight  prepaid,   and  Hollister-Stier   will  ship  Product  to  the
     destination,  and via the  carrier,  that Client  specifies in the purchase
     order.  Risk of loss shall pass to Client  when the  Product is tendered to
     the  carrier for  shipment.  Shipment  and  insurance  of Product  shall be
     arranged by Client and the price and  liability of such  shipment  shall be
     borne by Client.

3.8.4. Terms of Payment:  Invoices  shall be payable to  Hollister-Stier  within
     thirty (30) calendar days after Client's acceptance or deemed acceptance of
     Product as set forth in Article 4. All amounts not paid when due shall bear
     interest from the due date at the rate of one and one-half  percent  (1.5%)
     per month.

3.8.4.1. Invoices shall be sent to the following address:

                                       Hemispherx BioPharma, Inc.
                                       Attention:  Accounts Payable
                                       1716 John F. Kennedy Boulevard
                                       Philadelphia, PA  19103

3.8.4.2. All payments due  hereunder  to  Hollister-Stier  shall be sent by wire
     transfer of funds via the Federal Reserve Wire Transfer System to:

                                   Wells Fargo Bank
                                   ABA# 121000248
                                   Beneficiary:Hollister-Stier Laboratories LLC
                                   Account # 4131352601
                                   Swift Code WFBIUS4S

                                   Or by mail to:
                                   Hollister-Stier Laboratories LLC
                                   P.O. Box 201236
                                   Dallas, TX  75320-1236

3.9. Right of First Refusal to Manufacture:

                  In  the  event  Client   makes  any  material   modifications,
                  enhancements,  or improvements  to the Product,  or develops a
                  derivative  thereof,  Client shall notify  Hollister-Stier and
                  provide  Hollister-Stier  with a  written  description  of the
                  proposed specifications for such modified, enhanced, improved,
                  derived or new Product (the "Descriptive  Notice"), as well as
                  any related  information which may be reasonably  requested by
                  Hollister-Stier  within  ten  (10)  days of  Hollister-Stier's
                  receipt of the Descriptive Notice.  Hollister-Stier shall have
                  thirty (30) days following the receipt of such  information in
                  which to agree with  Client  upon  satisfactory  terms for the
                  price and terms for the  manufacture  of such  Product  before
                  Client may begin  negotiations  with any Third Party regarding
                  such manufacture.

                                    ARTICLE 4
              INSPECTION AND REJECTION OF PRODUCT; QUALITY CONTROL

4. The Parties agree to the following  provisions for acceptance or rejection of
Product and certain matters relating to quality control:

4.1. Each Batch of Product delivered to Client hereunder shall be accompanied by
     a Certificate of Analysis  signed by a duly  authorized  representative  of
     Hollister-Stier.  Client  shall  have 30 days from the date of  receipt  of
     Product  to   inspect   and  reject   acceptance   by  written   notice  to
     Hollister-Stier;  provided,  however,  that any such notice shall set forth
     Client's reasons for rejection in reasonable detail and provided,  further,
     that Client may reject Product only if: (i) Client claims a material breach
     of Hollister-Stier's  representations and warranties in Section 2.2 of this
     Agreement with respect to such Product; or (ii)  Hollister-Stier has failed
     to deliver a Certificate of Analysis for such Product.  If  Hollister-Stier
     does not receive  Client's  written notice of rejection  within such 30 day
     period, Client shall be deemed to have accepted Product.

4.2  In the  event  Client  provides  Hollister-Stier  with a timely  notice  of
     rejection  as set forth in Section  4.1,  Client  shall return the rejected
     Product to Hollister-Stier at  Hollister-Stier's  expense.  Hollister-Stier
     shall have 30 days following  receipt of rejected  Product in which to test
     such   Product.   If   Hollister-Stier   does  not  dispute  a   rejection,
     Hollister-Stier  shall rework or replace the rejected Product promptly,  at
     Hollister-Stier's  expense (except for replacement  Polymer,  which will be
     provided by Client at  Client's  expense)  and such  rework or  replacement
     shall  constitute  Client's  exclusive  remedy and  Hollister-Stier's  sole
     liability  with respect to such rejection  (unless  Sections 3.3.3 or 3.3.4
     apply, in which case,  Client shall have the remedy set forth therein).  If
     Hollister-Stier disputes a rejection,  Hollister-Stier shall provide Client
     with written  notice of such  dispute  within 30 days after  receiving  the
     returned Product, and the Parties shall use commercially reasonable efforts
     to resolve the dispute amicably and promptly.  If the Parties are unable to
     reach a resolution  within 30 days after Client's notice of rejection,  the
     returned  Product  shall be  submitted  to any  independent  laboratory  or
     consultant  mutually  acceptable to the Parties,  whose  decision as to the
     conformity  of such  Product  with the  Specifications  shall be final  and
     binding.  The Party  against  whom the  dispute  is  decided  shall pay any
     charges for such laboratory or consultant.  If the laboratory or consultant
     determines that the returned Product did not conform to the Specifications,
     Hollister-Stier  shall replace the rejected  Product at no charge to Client
     (except that Client shall provide replacement Polymer at Client's expense),
     and  such  replacement  shall  constitute  Client's  exclusive  remedy  and
     Hollister-Stier's  sole  liability  with respect to such  rejected  Product
     (unless Sections 3.3.3 or 3.3.4 apply, in which case, Client shall have the
     remedy set forth therein).

4.3  In addition  to any safety  requirements  set forth in the Quality  Systems
     Agreement or the Master Batch Record,  Hollister-Stier shall develop, adopt
     and enforce safety  procedures for processing  Product in compliance in all
     material  respects with the Act and the cGMP  Regulations.  Hollister-Stier
     shall be responsible for treating and/or disposing,  in compliance with the
     Act and the cGMP Regulations in all material respects,  all waste generated
     as a  result  of such  processing,  and for  maintaining  required  records
     related thereto.

4.4  In the event (a) any Regulatory  Authority  issues a request,  directive or
     order that any of the Product be recalled,  withdrawn, or corrected,  (b) a
     court of competent  jurisdiction orders such an action, or (c) either Party
     reasonably  determines  that any Product  should be recalled,  withdrawn or
     corrected,  the Parties shall take all  appropriate  corrective  actions as
     they reasonably mutually determine, and shall cooperate in any governmental
     investigations  relating to the  Product.  As between  Hollister-Stier  and
     Client, Client shall be solely responsible for initiating,  conducting, and
     managing  any recall,  withdrawal  or  correction  effort.  Client shall be
     solely  responsible for all related expenses,  except that  Hollister-Stier
     shall be liable for such expenses to the extent that the recall, withdrawal
     or correction  resulted solely from a breach by  Hollister-Stier  of any of
     its  representation  and  warranties  set  forth  in  Section  2.2 of  this
     Agreement.

4.5  Client shall provide to Hollister-Stier  copies of all material  regulatory
     submissions that relate to Hollister-Stier's services under this Agreement,
     which  copies  shall be  provided  reasonably  in  advance  of  submission.
     Hollister-Stier  shall consult with Client in responding to questions  from
     the Regulatory  Authorities regarding processing of the Product. Each Party
     shall  notify  the  other  promptly  after  receipt  of any  notice  of any
     Regulatory Authority  inspection,  investigation or other inquiry involving
     the Product.  The Parties shall  cooperate  with each other during any such
     inspection,  investigation or other inquiry including,  but not limited to,
     allowing,  upon  reasonable  request,  a  representative  of the  other  to
     participate  during such inspection,  investigation  or other inquiry,  and
     providing copies of all relevant documents.

4.6. The Parties agree to the following  provisions regarding adverse events and
     complaints:

                  4.6.1    Client  shall be  responsible  to (a) report  adverse
                           events  involving  the  Product  to the FDA and other
                           Regulatory  Authorities,  and (b)  respond to quality
                           complaints  and  medical  and  technical   inquiries,
                           respecting the Product.

                  4.6.2    In the event Hollister-Stier (a) receives information
                           regarding any adverse event
                           relating to the Product, (b) receives any complaints
                           relating to the Product, (c)
                           receives any medical or technical inquiry relating to
                           the Product, or (d) discovers or
                           is notified of any material defect in the Product, it
                           shall (i) promptly notify Client
                           and (ii) conduct an investigation in accordance with
                           its normal procedures for
                           complaints, inquiries or discoveries of that nature
                           and promptly report the results of
                           such investigation to Client.  The Parties shall
                           reasonably cooperate with and assist
                           each other, at Client's cost, in connection with any
                           such matter.

                                    ARTICLE 5
                          INTELLECTUAL PROPERTY RIGHTS

536:  5.The Parties agree to the following provisions regarding Intellectual
     Property:

         5.1      License  Grant:   Client  hereby  grants   Hollister-Stier   a
                  nonexclusive,  United States,  royalty-free license during the
                  term of this Agreement to use Client's  Technology Package and
                  Client's  Intellectual  Property  rights in the performance of
                  Hollister-Stier's obligations under this Agreement.

         5.2.     Limitation  of  Use:  Except  as  expressly   stated  in  this
                  Agreement,  no  Intellectual  Property  rights  of any kind or
                  nature are conveyed by this  Agreement and except as set forth
                  in Section 5.1,  neither Party shall have any right,  title or
                  interest  in or to the  other  Party's  Intellectual  Property
                  rights for any purpose  whatsoever  without such other Party's
                  prior written consent.  Upon termination of this Agreement for
                  whatever  reason,  neither  party  shall use or exploit in any
                  manner  whatsoever  any  Intellectual  Property  rights of the
                  other Party.

                                    ARTICLE 6
                     INDEMNIFICATION FOR THIRD PARTY CLAIMS

6. The Parties  agree to the following  clauses  regarding  indemnification  for
Third Party claims:

         6.1.     Indemnification by Client:  Client shall indemnify, defend and
                  hold Hollister-Stier, its
                  Affiliates and their respective directors, officers,employees,
                  agents, successors and assigns
                  harmless from and against any damages, losses, judgments,
                  claims, suits, actions, liabilities,
                  costs and expenses (including, but not limited to, reasonable
                  attorneys' fees) (collectively,
                  "Liabilities") resulting from any Third Party claims or suits
                  arising out of (1) the ownership,
                  use, handling, distribution, marketing or sale of the Product,
                  (2) Client's breach of any of
                  its warranties or representations, or failure to perform any
                  of its obligations, hereunder, or
                  (3) Client's negligent acts or omissions or willful
                          misconduct.

         6.2.     Indemnification  by  Hollister-Stier:   Hollister-Stier  shall
                  indemnify,  defend and hold Client,  its  Affiliates and their
                  respective directors,  officers, employees, agents, successors
                  and  assigns   harmless  from  and  against  any   Liabilities
                  resulting  from any  Third  Party  claims  arising  out of (1)
                  Hollister-Stier's  services in  manufacturing,  processing  or
                  assembling the Product,(2)  Hollister-Stier's breach of any of
                  its warranties or  representations,  or failure to perform any
                  of  its  obligations,   hereunder  or  (3)   Hollister-Stier's
                  negligent acts or omissions or willful misconduct.

         6.3.     Indemnification Procedures:

                  6.3.1.   Any Party hereto  seeking  indemnification  hereunder
                           (in  this  context  the  "Indemnified  Party")  shall
                           notify  the  other   Party  (in  this   context   the
                           "Indemnifying  Party") in writing reasonably promptly
                           after the assertion against the Indemnified Party any
                           claim by a Third  Party (a "Third  Party  Claim")  in
                           respect  of which the  Indemnified  Party  intends to
                           base a claim for indemnification hereunder.

                  6.3.2.   (1) The Indemnifying Party shall have the right, upon
                           written notice given to the Indemnified  Party within
                           thirty (30) calendar days after receipt of the notice
                           from the Indemnified  Party of any Third Party Claim,
                           to assume  the  defense  and  handling  of such Third
                           Party  Claim,  at  the   Indemnifying   Party's  sole
                           expense,  in which  case the  provisions  of  Section
                           6.3.2(2) below shall govern.

                           (2)  The  Indemnifying  Party  shall  select  counsel
                           reasonably  acceptable  to the  Indemnified  Party in
                           connection  with  conducting the defense and handling
                           of such Third Party Claim, and the Indemnifying Party
                           shall defend or handle the same in consultation  with
                           the Indemnified Party, and shall keep the Indemnified
                           Party  appraised  of the  status of the  Third  Party
                           Claim. The Indemnifying  Party shall not, without the
                           prior written consent of the Indemnified Party, which
                           consent will not be unreasonably withheld, agree to a
                           settlement  of  any  Third  Party  Claim  that  could
                           directly or  indirectly  lead to  liability or create
                           any financial or other  obligation on the part of the
                           Indemnified  Party for which the Indemnified Party is
                           not  entitled  to  indemnification   hereunder.   The
                           Indemnified    Party   shall   cooperate   with   the
                           Indemnifying   Party   and  shall  be   entitled   to
                           participate  in the defense or handling of such Third
                           Party Claim with its own counsel at its own expense.

                  6.3.3.   (1) If the  Indemnifying  Party does not give written
                           notice to the Indemnified  Party,  within thirty (30)
                           calendar  days after  receipt of the notice  from the
                           Indemnified  Party of any Third Party  Claim,  of the
                           Indemnifying  Party's  election to assume the defense
                           or handling of such Third Party Claim, the provisions
                           of Section 6.3.3(2) below shall govern.

                           (2) The  Indemnified  Party may, at the  Indemnifying
                           Party's  expense,  select counsel in connection  with
                           conducting  the  defense  or  handling  of such Third
                           Party  Claim and defend or handle  such  Third  Party
                           Claim  in such  manner  as it may  deem  appropriate,
                           provided,  however,  that the Indemnified Party shall
                           keep the  Indemnifying  Party timely appraised of the
                           status of such Third Party Claim and shall not settle
                           such Third  Party  Claim  without  the prior  written
                           consent  of the  Indemnifying  Party,  which  consent
                           shall   not   be   unreasonably   withheld.   If  the
                           Indemnified Party defends or handles such Third Party
                           Claim,  the  Indemnifying  Party shall cooperate with
                           the  Indemnified  Party  and  shall  be  entitled  to
                           participate  in the defense or handling of such Third
                           Party  Claim  with  its  own  counsel  and at its own
                           expense.

                  6.3.4.   The indemnification remedies in this Article 6, shall
                           constitute  the sole and  exclusive  remedies  of the
                           Parties  with  respect  to  any  Third  Party  Claims
                           arising under or relating to this Agreement.

         6.4.     Limitation of Liability:  Notwithstanding any other provisions
                  of this Agreement, Hollister-Stier's aggregate indemnification
                  liability to Client and its  Affiliates for Third Party Claims
                  pursuant  to this  Article 6 shall  not  exceed  Five  Million
                  United States Dollars (US $5,000,000).

                                    ARTICLE 7
                                    INSURANCE

         Each of Client and  Hollister-Stier  shall obtain and maintain,  either
         itself  or  through  one or  more  of its  Affiliates,  with  reputable
         carriers,  product liability insurance with limits of not less than One
         Million  United States  Dollars (US  $1,000,000)  per claim,  and Three
         Million United States Dollars (US  $3,000,000)  annual  aggregate by no
         later than the  scheduled  delivery date for the first Batch of Product
         delivered under this Agreement.  Upon request, each Party shall furnish
         the other Party with a certificate  that such insurance is in force. In
         the  event  of any  proposed  cancellation,  non-renewal,  or  material
         adverse change in such coverage,  the other Party hereto shall be given
         at least thirty (30) calendar day's advance written notice thereof.

                                    ARTICLE 8
                              TERM AND TERMINATION

8. The Parties agree to the following clauses regarding the term and termination
of this Agreement:

8.1. Term:  This Agreement shall remain in full force and effect for a period of
five years.

8.2.  Termination for Default:  This Agreement may be terminated by either Party
in the event of  material  breach or default by the other Party of the terms and
conditions hereof;  provided,  however,  the other Party shall first give to the
defaulting  Party written notice of the proposed  termination or cancellation of
this Agreement,  specifying the grounds  therefor.  Upon receipt of such notice,
with  respect to such  defaults as are capable of being  cured,  the  defaulting
Party shall have sixty (60) calendar days to respond by curing such default.  If
the  breaching  Party does not respond or fails to work  diligently  and to cure
such  breach  within  such  sixty  (60) day  period,  then the  other  Party may
terminate this Agreement.

8.3. Bankruptcy or Insolvency:

                  8.3.1.   Either Party may terminate this Agreement upon the
                           occurrence of any of the following
                           with respect to the other Party:

                           8.3.1.1.    The filing of an involuntary petition
                                       under the U.S. Bankruptcy Code, or
                                       any other similar law, which is not
                                       dismissed within sixty (60) days after
                                       the filing date;

                           8.3.1.2.    The filing of a voluntary petition by
                                       such other Party for relief under
                                       the U.S. Bankruptcy Code or other similar
                                       law; or

                           8.3.1.3.    The failure of such other Party to pay
                                       its debts when they become due.

8.4. Rights and Duties Upon Termination:

                  Termination of this Agreement for whatever  reason,  shall not
                  affect the obligations of either Party,  including  payment of
                  obligations which have accrued prior to such termination. Upon
                  termination  of this  Agreement,  other than due to an uncured
                  breach of this  Agreement  by  Hollister-Stier,  Client  shall
                  purchase from  Hollister-Stier,  at the out-of-pocket  cost to
                  Hollister-Stier,  any components  and raw materials  purchased
                  for the Product which Hollister-Stier has purchased based upon
                  any Forecast.  Hollister-Stier  shall ship such components and
                  raw materials to Client at Client's  expense and in accordance
                  with  Client's  instructions  promptly  after  receiving  such
                  payment.  Articles  1 and  2,  Sections  3.9.3  and  8.4,  and
                  Articles 6, 9, 10, 11 and 12 , and all other  provisions  that
                  may  reasonably be construed as surviving the  termination  of
                  this Agreement shall survive the termination.

                                    ARTICLE 9
                                 CONFIDENTIALITY

9.       In carrying out their respective  obligations under this Agreement,  it
         is recognized by  Hollister-Stier  and Client that each may disclose to
         the other  Confidential  Information of the disclosing  Party, and they
         hereby agree as follows with respect to any such disclosure:

         9.1.     Form of Disclosure: Confidential Information may be disclosed
                  in oral, written or electronic form.

         9.2.     Obligations:  The  receiving  Party  shall  hold  Confidential
                  Information  in confidence  and use it only for the purpose of
                  performing its  obligations  under this  Agreement.  Except as
                  provided  below,  the  receiving  Party  shall  not  disclose,
                  disseminate or distribute any such Confidential Information to
                  any Third Party unless prior  written  authorization  has been
                  obtained from the disclosing  Party.  These  obligations shall
                  not apply to:

                  9.2.1.   Information which, at the time of disclosure, is
                           generally known to the public;

                  9.2.2.   Information which, after disclosure, becomes
                           generally known to the public by
                           publication or otherwise, except by breach of this
                           Agreement by the receiving Party;

                  9.2.3.   Information which the receiving Party can demonstrate
                           by its written  records was in the receiving  Party's
                           possession at the time of the  disclosure,  and which
                           was not  acquired  directly or  indirectly,  from the
                           disclosing    Party    under   an    obligation    of
                           confidentiality;

                  9.2.4.   Information which is lawfully disclosed to the
                           receiving Party on a non-confidential
                           basis by a Third Party who is not obligated to the
                           disclosing Party or any other Third
                           Party to retain such information in confidence;

                  9.2.5.   Information which results from independent research
                           and development by the receiving
                           Party, as shown by competent evidence; or

                  9.2.6.   Information  which is  required  to be  disclosed  by
                           legal process;  provided that the Party so disclosing
                           such  Confidential  Information  timely  informs  the
                           other Party and uses commercially  reasonable efforts
                           to limit the disclosure, maintain its confidentiality
                           to the extent possible, and permit the other Party to
                           attempt  by  appropriate  legal  means to limit  such
                           disclosure.

         9.3.     Each Party covenants and agrees that it has and shall use
                  commercially reasonable efforts to
                  prevent the unauthorized use, disclosure, copying,
                  dissemination or distribution of
                  Confidential Information.  Without limiting the foregoing,
                  the receiving Party shall make
                  Confidential Information of the other Party available only
                  to those of its employees, agents
                  and other representatives who have a need to know the same
                  for the purpose carrying out this
                  Agreement, who have been informed that the Confidential
                  Information belongs to the disclosing
                  Party and is subject to this Agreement, and who have agreed
                  or are otherwise obligated to
                  comply with the confidentiality provisions of this Agreement.

                                   ARTICLE 10
                        FORCE MAJEURE/DISPUTE RESOLUTION

10.      The Parties agree to the following:

     10.1.Effect  of  Force  Majeure:  Neither  Party  shall be held  liable  or
          responsible  for any loss or  damages  resulting  from any  failure or
          delay in its performance  due hereunder  (other than payment of money)
          caused by force majeure. As used herein, force majeure shall be deemed
          to include any condition beyond the reasonable control of the affected
          Party including, without limitation,  strikes or other labor disputes,
          war,  riot,  earthquake,  tornado,  hurricane,  flood or other natural
          disasters, fire, civil disorder,  explosion,  accident, sabotage, lack
          of or inability to obtain  adequate  fuel,  power,  materials,  labor,
          containers,  transportation,  supplies or equipment,  compliance  with
          governmental requests,  laws, rules,  regulations,  orders or actions;
          inability  despite good faith  efforts to renew  operating  permits or
          licenses  from  local,  state  or  federal  governmental  authorities;
          breakage  or failure  of  machinery  or  apparatus;  national  defense
          requirements; or supplier strike, lockout or injunction.

     10.2.Notice of Force  Majeure:  In the event  either  Party is  delayed  or
          rendered  unable to perform due to force  majeure,  the affected Party
          shall give notice of the same and its  expected  duration to the other
          Party promptly after the occurrence of the cause relied upon, and upon
          the giving of such  notice  the  obligations  of the Party  giving the
          notice will be suspended  during the continuance of the force majeure;
          provided, however, such Party shall take commercially reasonable steps
          to remedy or mitigate the force majeure with all reasonable  dispatch.
          The  requirement  that force majeure be remedied  with all  reasonable
          dispatch  shall  not  require  the  settlement  of  strikes  or  labor
          controversies by acceding to the demands of the opposing party.

     10.3.Dispute  Resolution:  The Parties hereto agree to perform the terms of
          this  Agreement  in  good  faith,   and  to  attempt  to  resolve  any
          controversy,  dispute or claim  arising  hereunder in good faith.  Any
          dispute  regarding  the  validity,  construction,  interpretation,  or
          performance of this Agreement (other than provisions,  hereof relating
          to  any   Intellectual   Property  rights,   or  the   confidentiality
          obligations  contained  in  Article  9  hereof)  shall  be  (1)  first
          attempted to be resolved  between the  CEO/President of each Party and
          failing  that  (2)  submitted  to  binding   arbitration  in  Spokane,
          Washington,  U.S.A. to be conducted in accordance with the Arbitration
          Rules of the American Arbitration Association; provided, however, that
          nothing in this Section  10.3 shall be  construed  to preclude  either
          Party from seeking provisional  remedies,  including,  but not limited
          to, temporary restraining orders and preliminary injunctions, from any
          court  of  competent  jurisdiction,  in order to  protect  its  rights
          pending  arbitration,  but such preliminary relief shall not be sought
          as a means of avoiding arbitration. Further, in the event of a dispute
          under   Section  4.2,  the  Parties  shall  comply  with  the  dispute
          resolution   provisions  set  forth  in  Article  4.  Any  arbitration
          hereunder  shall be submitted to an  arbitration  tribunal  made up of
          three (3)  members,  one of whom shall be selected  by Client,  one of
          whom shall be  selected by  Hollister-Stier,  and one of whom shall be
          selected by the other two arbitrators.  The third arbitrator  selected
          by the first two shall chair the panel.  All  arbitration  proceedings
          shall be conducted in English.  The order or award of the  arbitrators
          shall be reasoned  and shall be final and may be enforced in any court
          of competent jurisdiction. The substantially prevailing Party shall be
          entitled, in addition to any other rights and remedies it may have, to
          reimbursement for its expenses incurred thereby,  including court cost
          and reasonable attorneys' fees, from the substantially  non-prevailing
          Party.

                                   ARTICLE 11
                                     NOTICES

                  Except as otherwise  specifically  set forth in Section  3.9.2
                  with  respect  to  purchase  orders,  all  notices  and  other
                  communications  provided  herein shall be in writing and shall
                  be deemed to be delivered  when deposited in the United States
                  mail,  postage prepaid and certified,  or  hand-delivered,  or
                  sent  by  facsimile,  or  express  service  courier,   charges
                  prepaid, to the address of the other Party designated below:

-------------------------------------   --------------------------------------

             Client                                Hollister-Stier

   Hemispherx Biopharma, Inc.               Hollister-Stier Laboratories LLC
 1716 John F. Kennedy Boulevard                3525 North Regal Street
    Philadelphia, PA 19103                        Spokane, WA 99207
 Attention: William A. Carter, M.D.      Attention: Anthony D. Bonanzino, Ph.D.
                                                 FAX: (509) 482-3543

-------------------------------------  ---------------------------------------

         The addresses and persons provided above may be changed by either Party
         by providing the other Party with written notice of such change.

                                   ARTICLE 12
                                  MISCELLANEOUS

12.      The Parties agree to the following miscellaneous clauses:

         12.1.    Entire Agreement:  This Agreement and attached exhibit
                  contains the entire understanding
                  between the Parties with respect to the subject matter hereof,
                  and may be modified only by a
                  written instrument duly executed by each Party's authorized
                  representative.

         12.2.    Independent   Contractors:   The   Parties   are   independent
                  contractors  and nothing  contained in this Agreement shall be
                  construed  to  place  them in the  relationship  of  partners,
                  principal  and agent,  employer/employee  or joint  venturers.
                  Neither  Party  shall have power or right to bind or  obligate
                  the other, nor hold itself out as having such authority.

         12.3.    Publicity:  Except as  explicitly  set forth  below in Section
                  12.4,  any press  release,  publicity  or other form of public
                  written  disclosure  related to this Agreement prepared by one
                  Party shall be  submitted  to the other party prior to release
                  for written approval, which approval shall not be unreasonably
                  withheld or delayed by such other Party.

         12.4.    Use of Party's Name:  Except as expressly provided or
                  contemplated hereunder and except as
                  otherwise required by applicable law, no right is granted
                  pursuant to this Agreement to either
                  Party to use in any manner the trademarks or name of the other
                  Party, or any other trade name,
                  service mark, or trademark owned by or licensed to the other
                  Party in connection with the
                  performance of the Agreement.  To the extent required by
                  applicable law, the Parties shall be
                  permitted to use the other Party's name and disclose the
                  existence and terms of this Agreement
                  in connection with required public regulatory filings, public
                  securities filings and private
                  placement memoranda and documentation, using reasonable
                  commercial efforts to protect the
                  confidentiality of the terms of this Agreement.

         12.5.    Severability:  If  any  provision  of  this  Agreement  or any
                  Exhibit is held to be invalid or  unenforceable to any extent,
                  then (a) such  provision  shall be  interpreted,  construed or
                  reformed to the extent reasonably required to render it valid,
                  enforceable and consistent  with the Parties'  original intent
                  underlying   such   provision  and  (b)  such   invalidity  or
                  unenforceability  shall not affect any other provision of this
                  Agreement or any other agreement between the Parties.

         12.6.    Assignment:  This Agreement may not be assigned or otherwise
                  transferred by either Party
                  without the prior written consent of the other Party;provided,
                  however, either Party may,
                  without such consent, assign this Agreement

                  (a)      in connection with the transfer or sale of all or
                           substantially all of the assets of
                           such Party or the line of business of which this
                           Agreement forms a part, or

                  (b)      in the event of a merger or consolidation of a Party.

                  Any purported  assignment in violation of the preceding  shall
                  be void. Any permitted  assignee shall assume all  obligations
                  of its assignor  under this  Agreement.  No  assignment  shall
                  relieve either Party of responsibility  for the performance of
                  any  obligation  which accrued prior to the effective  date of
                  such assignment.

         12.7.    Governing  Law:  This  Agreement  shall  be  governed  by  and
                  construed  in  accordance  with  the  laws  of  the  state  of
                  Washington,  irrespective  of any  conflicts of law rule which
                  may direct or refer such  determination  of applicable  law to
                  any other state,  and if this Agreement were performed  wholly
                  within the state of Washington.

         12.8.    Headings:  Paragraph headings and captions used herein are for
                  convenience of reference only
                  and shall not be used in the construction or interpretation
                  of this Agreement.

         12.9.    Waiver:  Neither  Party's  waiver of any  breach or failure to
                  enforce any of the terms and  conditions of this  Agreement at
                  any time, shall in any way affect, limit or waive such Party's
                  right thereafter to enforce and compel strict  compliance with
                  every term and  condition of this  Agreement.  Any such waiver
                  shall be made in writing.

         12.10.   Construction:  This Agreement has been jointly prepared on
                  the basis of the mutual
                  understanding of the Parties and shall not be construed
                  against either Party by reason of such
                  Party's being the drafter hereof or thereof.

         12.11.   Exhibits:  Any and all exhibits referred to herein form an
                  integral part of this Agreement and
                  are incorporated into this Agreement by this reference.

         12.12    Counterparts:  This Agreement may be executed in counterparts,
                  each of which  shall be deemed an  original  and both of which
                  together shall constitute a single instrument.

IN WITNESS  WHEREOF,  this  Agreement has been executed by the Parties as of the
Effective Date.

FOR: HOLLISTER-STIER LABORATORIES LLC      FOR:  HEMISPHERX BIOPHARMA, INC.

/s/                                          /s/
----------------------------               -----------------------
Signature                                  Signature

Anthony D. Bonanzino, Ph. D.               William A. Carter, M.D.
----------------------------               -----------------------
Printed Name                               Printed Name

President and CEO                          Chairman and CEO
----------------------------               -----------------------
Title                                      Title

----------------------------               -----------------------
Date Signed                                Date Signed

<PAGE>

                                    EXHIBIT A

                               QUOTATION 576-2-9-0Exhibit     10.47

                       MANUFACTURING AND SUPPLY AGREEMENT

 This Manufacturing and Supply Agreement ("Agreement") is entered into as of the
 date  signed by the last party to sign this  Agreement,  and with an  effective
 date of February 8, 2006 (the "Effective  Date") by and between  Hyaluron Inc.,
 with  its  principal  place  of  business  at 99 S.  Bedford  Street,  Suite 2,
 Burlington,   MA  01803,   ("Hyaluron")   and   Hemispherx   Biopharma,   Inc.,
 ("Hemispherx"),  a Delaware corporation, having its principal place of business
 at 1617 JFK Boulevard,  Philadelphia, PA. 19103. Hyaluron and Hemispherx may be
 referred to herein as a "Party" or, collectively, as the "Parties".

WHEREAS,  Hemispherx  is  engaged  in the  business  of  developing  therapeutic
product(s); and

WHEREAS, Hyaluron is in the business of developing,  manufacturing,  testing and
packaging sterile pharmaceutical products; and

WHEREAS, Hemispherx desires to utilize Hyaluron to develop,  manufacture,  test,
and/or package supplies of the product(s) as designated by Hemispherx:

NOW, THEREFORE, the Parties agree as follows:

     Definitions.  As used herein the  following  terms will have the  following
meanings:

         "API" means the raw material  components  of the Product,  as specified
and provided to Hyaluron by Hemispherx.

         "Batch" means the entire amount of Product yielded from a manufacturing
event using a specific quantity of APIs, Excipients, and components processed in
accordance with the Master Batch Record and the Manufacturing Standards.

         "Batch  Record"  means the document  created as and after each Batch is
Processed  and  Packaged.  Each Batch  Record will reflect and  incorporate  all
aspects of the Master Batch Record, the applicable  Certificate of Analysis, and
any Manufacturing Variance Reports issued with respect to such Batch.

         "Batch   Release"  means  the  final  sign-off  by  a  party's  quality
department  marking the culmination of the quality process through which a batch
of Product is shown to conform to all aspects of the Manufacturing Standards.

         "Bulk" means the bulk API for formulation.

         "Compounded  Bulk"  means  the  API  and  Excipients  which  have  been
compounded  but  not  filled  or  packaged  or  finished  into  a  final  dosage
presentation.

         "Certificate of Analysis"  means a certificate  that  accompanies  each
shipment  of APIs or  Product  certifying  that the APIs or  Product  meets  the
specifications as defined in the Manufacturing Standards.

         "Date of  Manufacture"  means  the date of  sterile  filtration  and/or
filling of the Compounded Bulk.

         "Excipient"  means any substance other than the API used in formulating
the Compounded Bulk.

         "API Reference  Standard"  means a quantity of APIs with a known assay,
supplied by Hemispherx,  with which Hyaluron may perform comparative analysis to
API samples having an unknown assay.

         "API Specifications"  means the specifications with respect to the APIs
as set forth in the Master Batch Record.

          "Manufacturing  Standards"  means the  specifications  for Processing,
Packaging,  and storing the Product set forth in the Specifications,  the Master
Batch  Record,  CGMPs  (as  defined  below),  MSDSs,  the QA  Schedule  and  all
applicable  U.S. laws and  regulations,  to the extent such terms and conditions
are not inconsistent with this Agreement.

         "Manufacturing  Variance Report" means a written report  indicating any
significant  variance  in the  Processing  or  Packaging  of a  Batch  from  the
procedures set forth in the Master Batch Record.

         "Master Batch  Record" means the document,  as may be amended from time
to time, specifying: (i) the API Specifications, (ii) the procedures for testing
and releasing the APIs, (iii) the Excipients,  (iv) the Primary Components,  (v)
Secondary  Packaging,  (vi) the  Specifications,  (vii) the formula (listing the
APIs  and the  Excipients  for the  Product),  and  (viii)  the  procedures  for
manufacturing  the  Product  (listing  the APIs,  the  Excipients,  the  Primary
Components, and the Secondary Packaging).

         "To Package" and "Packaging" means the act of inspecting, labeling, and
packing the Product into units.

         "Primary  Components"  means  the  vial/syringe,  stopper,  and seal as
identified in the Master Batch Record.

         "Process" or "Processing"  means the manufacturing  procedures,  or any
part  thereof,  involved in  manufacturing  the Product in  accordance  with the
Manufacturing Standards.

         "Product" means finished product in final dosage presentation.

         "Release  Date" means the date on which  Hyaluron  notifies  Hemispherx
that the quality control samples are available and the Batch Record is done.

         "Specifications" means the specifications for the APIs, the Excipients,
the Primary Components,  the Secondary Packaging, and the in-process and release
specifications  for  the  Product,  as set  forth  initially  in the  applicable
Statement or Work and,  subsequently  in the Master Batch  Record.  Revisions to
Specifications  may be made by the  Parties  from time to time and such  changes
will be reflected in the Master Batch Record.

         "Qualified  Supplier"  means a supplier of materials or components that
has been audited and/or assessed by Hyaluron and has passed  Hyaluron's  quality
assurance standards.

         "Secondary Packaging" means any component other than Primary Components
used to convert primary units into units.

         "Shipping   Components"  means  the  packaging,   boxes,  and  shipping
containers into which the Product is placed for shipment to Hemispherx.

         "Variance" or "Deviation" means a departure from an established quality
standard (e.g., CGMP standard  operating  procedure,  manufacturing  work order,
Packaging  order,  raw  material or Product  Specification,  analytical  control
procedure,  water monitoring  procedure,  equipment maintenance schedule, or any
unusual occurrence), which may be either anticipated or unanticipated departures
from  established  quality  standards  and may have the  potential to affect the
safety, identity, strength, quality or purity of the Product or Compounded Bulk.

 1. Quotation. Hyaluron will provide to Hemispherx the manufacturing and related
 services  (the  "Services")  as  described  in the  applicable  Quotation  (the
 "Quotation"),  a form of which is attached hereto as Exhibit A and incorporated
 herein by reference.  The Parties will  mutually  agree to the contents of each
 Quotation and any amendments thereto. Each Quotation will, in addition to other
 matters,  address the quality assurance and control  procedures.  The Quotation
 may specify  that  Hemispherx  will  provide  certain  materials to Hyaluron or
 require that Hyaluron acquire certain  materials from a particular  source.  If
 Hemispherx  provides  materials to Hyaluron,  title in and risk of loss of such
 materials  will  remain  with  Hemispherx.  In the  event  Hemispherx  requests
 additional services relating to this Agreement,  the Parties may mutually agree
 upon  such  services  and the  costs  related  thereto  in a  separate  written
 agreement,  which must be signed by authorized  representatives of both Parties
 before any such costs are incurred.

2.       Compensation for Services.
         -------------------------
     Compensation  for the  Services  will  be as  specified  in the  Quotation.
Hyaluron will bill  Hemispherx  for the Services as specified in the  applicable
Purchase  Order.  Such invoices will be payable upon receipt by Hemispherx.  All
pricing, payments,  credits, allowances or other monetary adjustments under this
Agreement will be in U.S. Dollars.

3.      Advance Notice For Services.
        ---------------------------
     Hemispherx  agrees,  according to CGMP standards,  to give Hyaluron 60 days
advance written notice for each Product Order under the terms of this Agreement.

 4.      Services.
         --------

         (a) All Services  will be conducted in accordance  with the  applicable
 Quotation and  Hyaluron's  internal  Standard  Operating  Procedures  ("SOPs"),
 copies  of  which  will  be  available  for  inspection  by  Hemispherx  or its
 designated representatives at Hyaluron upon reasonable notice.  Notwithstanding
 the foregoing, unless otherwise specified in the applicable Purchase Order, the
 manufacturing  of the Product will be conducted in accordance  with EU Annex I,
 ISO 13485:  2003,  ISO 9001:  2000, 21 CFR 211, and Current Good  Manufacturing
 Practices  ("CGMPs") as described in the relevant  United  States Food and Drug
 Administration ("FDA") regulations and guidelines for the manufacture,  control
 and storage of human pharmaceutical  products,  including,  without limitation,
 the FDA's  guidance for industry  titled  "Sterile  Drug  Products  Produced by
 Aseptic  Processing - Current Good  Manufacturing  Practice",  dated  September
 2004.  If  change(s)  to  ISO,  European,  CFR,  and/or  FDA  standards  affect
 manufacture/production  of the Product  Hyaluron and Hemispherx shall negotiate
 in good faith change(s) to prices being charged by Hyaluron to Hemispherx.

          (b) Hyaluron will follow CGMP standards to manufacture for Hemispherx,
 or any third party designated by Hemispherx and agreed to by Hyaluron, clinical
 Batches  of a  finished  dosage  form  of the  Product  per  the  Manufacturing
 Standards,  and as may be  further  developed  by  Hyaluron,  using  the  APIs,
 components and  Excipients  specified.  Both Parties will promptly  notify each
 other of any new instructions or specifications required by CGMP. Upon request,
 Hyaluron will provide Hemispherx with (a) a written  description of any actions
 taken to comply with new or revised  CGMPs that  affect the Product  and/or (b)
 copies  of  Hyaluron's  manufacturing  records,  including  its  Batch  Records
 regarding  the  Product,  for the  purposes  of  assuring  product  quality and
 compliance with agreed-upon manufacturing procedures.

         (c) Hyaluron will adhere to the  Specifications  and  requirements,  as
 detailed in the Master Batch Record,  the Manufacturing  Standards and mutually
 agreed  upon  protocols,  where  such  specifications  are  in  compliance  and
 agreement with FDA and other applicable regulatory agency guidelines.  Hyaluron
 will obtain  Hemispherx's prior approval before it implements any change in the
 materials,  equipment,  process or procedures  used to manufacture  the Product
 that would constitute a significant  Deviation under CGMP, such approval not to
 be withheld by  Hemispherx  unreasonably.  Hyaluron  will disclose all proposed
 changes in such  manufacturing  materials,  equipment,  process or procedure to
 Hemispherx.

         (d) In the event  that the Bulk  fails to meet  in-process  or  release
 specifications,  Hemispherx  may authorize a Deviation from the Batch Record in
 an attempt to salvage  the Batch.  Hemispherx  assumes  responsibility  for all
 costs  associated  with  batch  failure(s)  until  such  time as  Hyaluron  has
 validated the filling line for the Product. Hyaluron will assume responsibility
 for Excipient  costs for batch  failures  occurring  subsequent to product fill
 line  validation,   unless  such  batch  failures  result  from  negligence  by
 Hemispherx.  At no time will Hyaluron be  responsible  for API costs  resulting
 from batch failure.

         (e) Hyaluron will obtain materials and components for production from
Qualified Suppliers.

         (f) Hyaluron and Hemispherx will mutually develop a Master Batch Record
 for the Product  following the technical  specifications,  methods and know-how
 provided by Hemispherx.

         (g)  Hemispherx  will transfer to Hyaluron  appropriate  methods and in
 process  assays for  manufacturing  the  Product.  Such  methods and in process
 assays will be  confirmed,  or if  requested,  validated  by Hyaluron for their
 application to the finished Product.

         (h) Hyaluron  will  provide  Hemispherx  with copies of executed  Batch
Records,  process deviations and analytical data showing that the Specifications
have  been  met,  following  completion  of  the  manufacture  of  the  Product.
Hemispherx  will have the right to review and approve Master Batch  Records,  to
approve  planned  process  deviations  and to receive prompt notice of unplanned
process deviations.

         (i) In the event that Hemispherx proposes any significant change to the
Specifications or manufacturing Process,  Hemispherx will deliver written notice
to Hyaluron  describing  such Change.  Hyaluron  will respond to any such notice
within 15 days after Hyaluron's  receipt thereof;  provided,  however,  that the
Specifications  or Process will not be supplemented,  modified or amended in any
respect without the prior written agreement of the Parties. If any change in the
Primary  Components,  Secondary  Packaging,  Shipping  Components,  Processes or
Product  testing   Specifications   materially   increases  Hyaluron's  cost  to
manufacture,  test, or package the Product,  Hyaluron reserves the right to make
reasonable pricing  adjustments if needed to accommodate such changes.  Prior to
initiating  any work,  Hyaluron will provide a scope of work and cost  proposal.
New pricing will be effective upon  implementation of the new  specifications or
process.

         (j) Hyaluron  will provide  Hemispherx  with all  documents  Hemispherx
reasonably requests regarding its manufacturing processes and procedures for the
Product.  Where  practicable,   for  an  additional  fee,  Hyaluron  may  assist
Hemispherx in obtaining  approvals from other government or regulatory  agencies
which may be required for the conduct of clinical trials of the Product in other
countries.  Hyaluron  agrees  to  cooperate  with  the FDA or  other  regulatory
agencies.

          (k) Labeling and  packaging  will be approved by  Hemispherx,  and all
labels and package  inserts  will be  developed in  accordance  with  Hyaluron's
guidelines with regard to physical dimensions and handling procedures.

         (l) Hemispherx  will conduct release testing on quality control samples
obtained from each Batch of Hemispherx  Product shipped by Hyaluron hereunder to
confirm  that  such  quality  control  samples  conform  to  the   Manufacturing
Standards.  Hyaluron will notify Hemispherx when the quality control samples are
available and the Batch Record is done. At that point in time,  Hemispherx shall
request that the  Hemispherx  Product be shipped  immediately  to  Hemispherx or
another  address  selected  by  Hemispherx.  Hemispherx  will be  deemed to have
accepted the Batch 45 days after  Hemispherx  is notified  that quality  control
samples are  available or that the Batch Record is  complete,  whichever  occurs
first.  Hyaluron must receive any and all comments on the Batch Record within 45
days after  Hemispherx  has been  notified  that the Batch  Record is  complete;
otherwise  Hemispherx shall be deemed to accept the Batch Record as is. After 45
days,  Hemispherx will be deemed to have accepted the Batch,  unless Hemispherx,
by written notice ("Notice of  Rejection/Nonconformance") to Hyaluron within the
45-day  period  initiates an  investigation  into the reasons for the failure to
allegedly  conform  to  the  Manufacturing   Standards  by  returning  allegedly
non-conforming  Product to Hyaluron  within 14 days after giving  notice of such
non-conformance.  Once  Hemispherx  has  been  deemed  to  accept  the  Product,
Hyaluron's  responsibilities  and  liabilities  for the Product will be null and
void.

         (m)  Hyaluron  will have the right to sample and  retest  Product or to
have an outside  laboratory  sample and retest Product if Hemispherx claims that
such Product does not conform to the Manufacturing  Standards.  Disputes between
the  Parties as to whether any Product  rejected by  Hemispherx  conforms to the
Manufacturing  Standards will be resolved by a mutually  acceptable  third party
testing laboratory.

          (n) In the  event  that a batch of  Compounded  Bulk is  found  not to
conform  to the  bulk  release  specification  set  forth  in the  Manufacturing
Standards  prior to initiation of the fill,  Hyaluron will undertake one or more
remedial  steps in an attempt to bring the Compounded  Bulk into  specification.
Should these remedial steps fail to bring the Compounded Bulk into specification
Hemispherx may direct  Hyaluron to terminate the  manufacturing  process at this
stage.

         (o)  Hyaluron  will  ship  Product  to  the  destination  specified  by
Hemispherx in accordance with the applicable  Hemispherx  instructions  and will
store the  Product  in  compliance  with  CGMP at  Hyaluron's  facilities  until
delivery. All shipping costs will be the responsibility of Hemispherx.  Title to
and risk of loss of the  Product  shall  pass to  Hemispherx  as the  Product is
delivered F.O.B. via a common carrier.  If Hemispherx requests Hyaluron to store
Product  longer  than 2 weeks  past the  Release  Date,  there will be a storage
charge applied which will be proportional to the quantity stored.

5.       Representations, Warranties and Covenants.
         -----------------------------------------

         (a)      Hyaluron represents and warrants to Hemispherx that:

                  (i) All  Product  furnished  pursuant to this  Agreement  will
conform to the relevant  Specifications  except in case of variance or deviation
of which Hemispherx has been notified by Hyaluron;

                  (ii) All Product furnished  pursuant to this Agreement will be
manufactured  and stored in  accordance  with,  and all  packaging  and labeling
operations will be conducted in compliance  with, CGMPs and other applicable FDA
and other governmental laws and regulations;

                  (iii) All manufacturing under this Agreement will be performed
with  the  degree  of  skill  and  diligence  normally  employed  by a  contract
manufacturer performing the same or similar services; and

                  (iv)  Hyaluron's  application  of any  intellectual  property,
other than that provided to Hyaluron by  Hemispherx,  in the  performance of the
Services will not infringe any third party intellectual property rights.

                  (v) Hyaluron  represents as of the date of this  Agreement and
continuously  during  the  term  of  this  Agreement  that,  to the  best of its
knowledge, it and its employees, affiliates,  contractors, and agents have never
been (i)  debarred  or (ii)  convicted  of a crime  for  which a  person  can be
debarred, under Section 335(a) or 335(b) of the Federal Food, Drug, and Cosmetic
Act (the "Act").  Hyaluron represents that it has never been and, to the best of
its knowledge,  none of its employees,  affiliates,  contractors,  or agents has
ever been (i)  threatened  to be debarred  under the Act or (ii)  indicted for a
crime or otherwise  engaged in conduct for which a person can be debarred  under
the Act. Hyaluron agrees that it will promptly notify Hemispherx in the event it
receives notification of any such debarment, conviction, threat or indictment.

         (b)  Hemispherx  represents  and warrants to Hyaluron  that  Hyaluron's
application of any intellectual  property  provided to Hyaluron by Hemispherx in
the  performance of the Services will not infringe any third party  intellectual
property rights,  and Hemispherx  agrees under this Section and under Section 11
to fully  indemnify  Hyaluron in the event that  Hyaluron's  application  of any
intellectual  property in the performance of the Services infringes on any third
party intellectual property rights.

         (c)  Each of Hemispherx and Hyaluron represent and warrant to the other
that:

                  (i) it is duly  organized and validly  existing under the laws
of the  jurisdiction  of its  incorporation  and has full  corporate  power  and
authority to enter into this Agreement and to carry out the provisions hereof;

                  (ii) this  Agreement  is a legal and valid  obligation  of it,
binding  upon it and  enforceable  against  it in accordance with the terms of
this Agreement;

                  (iii)  the  execution,   delivery  and   performance  of  this
Agreement  by  it  does  not  conflict   with  any   agreement,   instrument  or
understanding,  oral or written,  to which it is a party or by which such may be
bound,  and does not violate any law or  regulation  of any court,  governmental
body or administrative or other agency having authority over it; and

                  (iv) it has not done any act or  knowingly  omitted  to do any
act,  and,  to the best of its  knowledge,  after  due  inquiry,  no  event  has
occurred, in each case during the period between the Effective Date and the date
this Agreement is entered into,  that would (1) constitute a breach by it of any
provision  of this  Agreement,  (2) cause the other party to incur any  material
liability  other than as to  obligations  to perform  work and make  payments in
accordance with this Agreement or (3) render any of its  representations  and/or
warranties untrue.

6.       Records.
         -------
     Hyaluron  will  maintain   adequate  and  accurate   records  covering  the
manufacture,  quality  control  testing and release of the Product and all other
Services provided hereunder in accordance with CGMPs and Hyaluron's QA SOPs.

 7.   Inspections.
      -----------
 Hemispherx   will   have  the   right  to   schedule   site
 inspections/compliance  audits as needed, provided reasonable advance notice is
 given to schedule  such  audits and such  audits are carried out during  normal
 business hours.  All  inspections/audits  will be performed in such a manner as
 not to  unduly  delay  the  performance  of the  Services.  Hemispherx  will be
 permitted  to attend any FDA or other  regulatory  inspections  relating to the
 Services specific to Hemispherx's  product(s).  Routine audits in excess of one
 audit  day per  calendar  year  will be  billed  to  Hemispherx  at  Hyaluron's
 prevailing  daily  audit  charge  rate.  Audits  related to FDA  compliance  of
 Hemispherx's  product(s)  or failures in product  quality may be  conducted  by
 Hemispherx without charge by Hyaluron.

8.       Confidentiality.
         ---------------

         8.1      Hemispherx Confidential Information

         (a) Hyaluron  agrees during the term of this Agreement and for five (5)
years thereafter that it will take all steps  reasonably  necessary to: (i) hold
Hemispherx  Confidential  Information  in  trust  and  confidence,  (ii) not use
Hemispherx  Confidential  Information  in any  manner  or for  any  purpose  not
expressly  set  forth  in this  Agreement,  and  (iii)  not  disclose  any  such
Hemispherx  Confidential  Information to any third party without first obtaining
Hemispherx's  express  written  consent  on a  case-by-case  basis.  "Hemispherx
Confidential  Information"  means  (A)  this  Agreement  and any  schedules  and
attachments hereto, (B) the Product, and (C) any other information  disclosed by
Hemispherx  to  Hyaluron  whether  orally  or in  writing  that  (1)  Hemispherx
identifies at the time of disclosure as Hemispherx Confidential  Information and
(2) if disclosed in writing,  is marked  confidential  or  proprietary or (3) if
disclosed  orally by  Hemispherx,  is summarized  and reduced to writing  within
thirty (30)  business days of the oral  disclosure  and marked  confidential  or
proprietary.  Notwithstanding  the other  provisions of this Agreement,  nothing
received  by  Hyaluron  will  be   considered  to  be  Hemispherx   Confidential
Information  if  Hyaluron  can  establish  by  competent  proof  that  (A)  such
information has been published or is otherwise  readily  available to the public
other  than by a  breach  of this  Agreement;  (B)  such  information  has  been
rightfully  received  by  Hyaluron  from  a  third  party  without  confidential
limitations;  (C) such information has been independently developed for Hyaluron
by personnel or agents;  or (D) such  information was known to Hyaluron prior to
its  first  receipt  from  Hemispherx.  Hyaluron  may only  disclose  Hemispherx
Confidential Information to those employees of Hyaluron who are required to have
the  information  in order to perform its  obligations  under this Agreement and
third parties who are bound by  confidentiality  restrictions  no less stringent
than  those   contained  in  this  Agreement.   Notwithstanding   the  foregoing
limitations on disclosure, Hyaluron may disclose such information as is required
by any law, rule, regulation,  order, decision,  decree, subpoena or other legal
process to be  disclosed.  If such  disclosure  is requested  by legal  process,
Hyaluron will notify Hemispherx of this request promptly prior to any disclosure
to permit Hemispherx to oppose such disclosure by appropriate legal action.

         (b)  Hyaluron  agrees  that it will  take all  reasonable  measures  to
protect the secrecy of and avoid  disclosure and  unauthorized use of Hemispherx
Confidential Information.  Without limiting the foregoing, Hyaluron will take at
least those measures that it takes to protect its own confidential  information;
however,  in no event,  will less than a  reasonable  standard  of care be used.
Hyaluron  will make  copies of  Hemispherx  Confidential  Information  solely as
necessary  to perform  its  obligations  under  this  Agreement.  Hyaluron  will
immediately notify Hemispherx in the event of any unauthorized use or disclosure
of Hemispherx Confidential Information of which Hyaluron is or becomes aware.

     8.2          Hyaluron Confidential Information

         (a)  Hemispherx  agrees during the term of this  Agreement and for five
(5) years  thereafter  that it will take all steps  reasonably  necessary to (i)
hold Hyaluron  Confidential  Information in trust and  confidence,  (ii) not use
Hyaluron Confidential Information in any manner or for any purpose not expressly
set  forth  in  this  Agreement,  and  (iii)  not  disclose  any  such  Hyaluron
Confidential  Information to any third party without first obtaining  Hyaluron's
express  written  consent  on  a  case-by-case  basis.   "Hyaluron  Confidential
Information" means any information  disclosed to Hemispherx whether orally or in
writing  that  Hyaluron (1)  identifies  at the time of  disclosure  as Hyaluron
Confidential Information and (2) if disclosed in writing, is marked confidential
or proprietary or (3) if disclosed orally by Hyaluron, is summarized and reduced
to writing  within thirty (30) business days of the oral  disclosure  and marked
confidential  or  proprietary.  Notwithstanding  the  other  provisions  of this
Agreement,  nothing  received by  Hemispherx  will be  considered to be Hyaluron
Confidential Information if Hemispherx can establish by competent proof that (A)
such  information  has been published or is otherwise  readily  available to the
public other than by a breach of this Agreement;  (B) such  information has been
rightfully  received  by  Hemispherx  from a third  party  without  confidential
limitations;   (C)  such  information  has  been  independently   developed  for
Hemispherx  by personnel  or agents  without use of or reference to the Hyaluron
Confidential Information;  or (D) such information was known to Hemispherx prior
to its first  receipt  from  Hyaluron.  Hemispherx  may only  disclose  Hyaluron
Confidential  Information  to those  employees  or  independent  contractors  of
Hemispherx  who have a need to know the  information  in order to perform  their
duties at Hemispherx and who are bound by  confidentiality  restrictions no less
stringent than those contained in this Agreement.  Notwithstanding the foregoing
limitations  on  disclosure,  Hemispherx  may disclose  such  information  as is
required by any law, rule,  regulation,  order,  decision,  decree,  subpoena or
other legal  process to be disclosed.  If such  disclosure is requested by legal
process,  Hemispherx will notify Hyaluron of this request  promptly prior to any
disclosure to permit  Hyaluron to oppose such  disclosure by  appropriate  legal
action.

                  (b) Hemispherx agrees that it will take reasonable measures to
protect the secrecy of and avoid disclosure and unauthorized use of the Hyaluron
Confidential Information.  Without limiting the foregoing,  Hemispherx will take
at  least  those  measures  that  it  takes  to  protect  its  own  confidential
information;  however, in no event, will less than a reasonable standard of care
be  used.  Hemispherx  will  immediately  notify  Hyaluron  in the  event of any
unauthorized use or disclosure of the Hyaluron Confidential Information of which
Hemispherx is or becomes aware.

9.       Intellectual Property.
         ---------------------

Hyaluron agrees that Hemispherx has and will retain sole and exclusive rights of
ownership in and to any Hemispherx Confidential  Information.  Hemispherx agrees
that Hyaluron has and will retain sole and exclusive  rights of ownership in and
to any  Hyaluron  Confidential  Information.  The parties do not plan to jointly
develop any devices or processes.  The parties  agree,  however,  if a device or
process is jointly developed, they will jointly own such device or process.

 10.     Term and Termination.
         --------------------

         (a)  This  Agreement  will  continue  for five  years  from the date of
 execution.  Notwithstanding  the  foregoing,  this Agreement may be extended by
 written  agreement of both of the parties.  Termination  of this Agreement will
 not affect any right or  obligations  of the  parties  that arose prior to such
 termination.

         (b)  This  Agreement  may  be  terminated  by  Hemispherx  if  Hyaluron
 materially  breaches  this  Agreement  and  Hyaluron  fails to cure such breach
 within 30 days from the receipt of prior written notice from  Hemispherx.  This
 Agreement may be terminated by Hyaluron if Hemispherx  materially breaches this
 Agreement  and  Hemispherx  fails to cure such  breach  within 30 days from the
 receipt of prior written notice from  Hyaluron.  In the event of termination by
 Hyaluron or by Hemispherx, Hyaluron will be entitled to payment for any portion
 of the Services completed and for any noncancellable expenses incurred prior to
 the date of notification of termination pursuant to this Agreement.  Payment is
 due upon the date of receipt by  Hemispherx of the final invoice and receipt by
 Hemispherx of all items specified in this Section 10(b).

          (c) This  Agreement  may be  terminated  by either  party if the other
 party enters into liquidation whether compulsory or voluntarily  otherwise than
 for the purpose of amalgamation or reconstruction,  or a petition in bankruptcy
 is filed by or against either party in any competent  court and the same is not
 dismissed  within 120 days or if the other  party is  adjudicated  bankrupt  or
 insolvent or if the other ceases to do business,  or otherwise  terminates  its
 business operations.

         (d)  This  Agreement  may be  terminated  by Hemispherx  if  Hemispherx
 decides to no longer  continue  manufacturing  or distributing the Product.

         (e) In the event of termination for any reason, Hyaluron will return to
 Hemispherx all materials  Hemispherx provided to Hyaluron hereunder,  and, upon
 Hemispherx's  request,  work  completed or in progress by Hyaluron  pursuant to
 this  Agreement,  including  any reports and other  documentation,  except that
 Hyaluron may for  record-keeping  purposes retain two copies, one paper and one
 electronic, of any documentation.

11.      Indemnification.
         ---------------

         (a) Hemispherx agrees to defend,  indemnify and hold harmless Hyaluron,
its affiliates,  officers,  directors,  employees and agents (collectively,  the
"Hyaluron  Parties")  from and against any and all costs  (including  reasonable
legal fees), damages, expenses, losses, suits, claims and demands, in any manner
caused by,  resulting from or arising out of third party claims or suits related
to: (i) activities to be carried out by Hemispherx  pursuant to this  Agreement;
(ii) the distribution of the Product or its use in clinical  trials,  including,
but not limited to, any side effects,  contraindications,  illness, and/or death
resulting  from use of the  product;  and  (iii) a claim by a third  party  that
Hyaluron's use in the Services of intellectual  property provided to Hyaluron by
Hemispherx infringes such third party's intellectual property rights;  provided,
however,  that the foregoing  indemnification  will not apply to the extent such
costs, damages, expenses, losses, suits, claims or demands result from:

i.       the gross negligence or willful misconduct of any Hyaluron Party; or

ii.      Hyaluron's failure to comply with applicable FDA or other governmental
laws and regulations.

         (b) Hyaluron agrees to defend,  indemnify and hold harmless Hemispherx,
its affiliates,  officers,  directors,  employees and agents (collectively,  the
"Hemispherx  Parties")  from and against any and all costs,  damages,  expenses,
losses,  suits,  claims and demands,  in any manner caused by, resulting from or
arising out of third party claims or suits related to: (i) the gross  negligence
or willful  misconduct of any Hyaluron  Party;  (ii) Any act by a Hyaluron Party
outside the scope of this  Agreement;  (iii)  Hyaluron's  failure to comply with
applicable FDA or other governmental laws and regulations;  or (iv) a claim by a
third party that Hyaluron's use in the Services of intellectual property,  other
than that  provided to  Hyaluron by  Hemispherx,  infringes  such third  party's
intellectual   property   rights;   provided,   however,   that  the   foregoing
indemnification  will not apply to the extent  such  costs,  damages,  expenses,
losses, suits, claims or demands result from:

i.     the gross negligence or willful misconduct of any Hemispherx Party; or

ii.    Hemispherx's failure to comply with applicable FDA or other governmental
laws and regulations.

         (c) In the event that  either  party  seeks  indemnification  under the
terms of this  Section 11 ("the  Indemnified  Party"),  it will inform the other
party (the "Indemnifying Party") of the claim as soon as reasonably  practicable
after it receives  notice thereof (but in any event within 15 days of receipt of
notice of such claim).  The Indemnifying  Party will have the right, but not the
obligation to, at the Indemnifying Party's cost, to assume direction and control
of the defense of the claim,  and will cooperate as requested (at the expense of
the Indemnifying  Party),  in the defense of the claim.  The Indemnifying  Party
will not settle or  otherwise  compromise  any claim or suit in any manner which
requires the Indemnified Party to provide any consideration, admit fault or take
any other  action that would be binding on such  Indemnified  Party  without the
prior written consent of the Indemnified Party.

         12.      Limitation of Liability.
                  -----------------------

          (a) In no event  will  either  party be liable to the other  party for
lost profits,  loss of use,  loss of business,  business  interruption,  loss of
data,  cost of cover or any indirect,  special,  consequential,  incidental,  or
punitive damages of any nature  whatsoever,  however caused and under any theory
of  liability  whether  based in contract,  warranty,  tort  (including  without
limitation,  negligence),  strict liability, statutory or otherwise, arising out
of or in connection with this Agreement even if the other party has been advised
of the possibility of such damages.

          (b)  Notwithstanding  anything to the contrary herein, any limitations
on liability  will not be applicable to  liabilities  to the extent arising from
the violations of law, recklessness or willful misconduct of a party.

13.               Miscellaneous.
                  -------------

         (a)  Changes to this  Agreement  must be in  writing  and  require  the
signature of authorized officers of Hemispherx and Hyaluron,  provided,  however
that changes  involving  additional  services will be handled in accordance with
Section 1.

         (b) Hyaluron  agrees to perform all the work under this Agreement as an
 independent contractor. Hyaluron is not an employee, partner, representative or
 joint  venture of or with  Hemispherx,  and nothing in this  Agreement  will be
 construed to create such a  relationship.  Neither party will have the power or
 right to bind or obligate the other.

         (c)  Notices  under this  Agreement  will be in writing  and  delivered
 personally or by United States mail, certified mail or courier to the following
 individuals:

To Hemispherx:
William A. Carter, M.D.
Chief Executive Officer
Hemispherx Biopharma, Inc.
1617 JFK Blvd.
Philadelphia, PA 19103

To Hyaluron:
Rebecca Butler, Esq.
Corporate and Legal Affairs Manager
 Hyaluron Inc.
 20 Blanchard Road
 Burlington, MA 01803

         (d) This  Agreement  will be governed and construed in accordance  with
 the laws of the state of Delaware,  excluding  any choice of law rules that may
 direct the application of the laws of another jurisdiction.

         (e) If any provision of this Agreement is or becomes or is deemed to be
invalid,  illegal, or unenforceable in any jurisdiction,  such provision will be
deemed amended to conform to the applicable  laws of such  jurisdiction so as to
be valid and  enforceable.  If the  offending  provision  cannot  be so  amended
without  materially  altering  the  intention  of the  Parties:  (i) it  will be
stricken; (ii) the validity,  legality and enforceability of such provision will
not in any way be affected or impaired in any other jurisdiction;  and (iii) the
remainder of this Agreement will remain in full force and effect.

         (f) This  Agreement  contains the entire  understanding  of the Parties
 with  respect  to  the  subject  matter  hereof  and  supercedes  all  previous
 agreements  (oral and written).  Any form containing other terms and conditions
 of sale will not have the effect of modifying the terms and  conditions of this
 Agreement  unless this Agreement is  specifically  amended as provided  herein.
 This Agreement will be binding upon and inure to the benefit of the Parties and
 their successors and permitted assigns.

         (g)  Hyaluron,   on  behalf  of  itself  and  its  employees,   agents,
subcontractors  and affiliates,  agrees not to use the name of Hemispherx or any
of its employees,  agents or affiliates,  or reference any of their products, in
any  publicity,  advertising or other  publication  without  Hemispherx's  prior
written approval. Results and services provided by Hyaluron do not constitute an
endorsement of the Product or Hemispherx's  scientific  conclusions.  Hemispherx
agrees not to use Hyaluron's name in a manner that could reasonably be construed
as  such  an  endorsement  or in any  other  publicity  or  advertising  without
Hyaluron's  prior written  approval,  provided,  however,  it is understood  and
agreed that  Hemispherx may make such  disclosures as may be required by federal
securities laws without Hyaluron's prior written approval.

         (h) Neither  party's  failure to exercise,  or delay in exercising  any
privileges,  powers,  rights or remedies  under this Agreement will operate as a
waiver thereof,  nor will any single or partial  exercise of any right or remedy
under this  Agreement  preclude  further  exercise  of any other right or remedy
hereunder.  The rights and  remedies of the Parties  provided in this  Agreement
will not be  exclusive  and are in addition to any other  rights and remedies at
law or in equity.

         (i)  Neither  party  will be liable to the  other  party in any  manner
whatsoever  for any failure or delay in performing  its  obligations  under this
Agreement if and to the extent, and for the duration,  that such is due to Force
Majeure.  Without  prejudice  to Section 10, any said  failure or delay will not
give either  party the right to  terminate  this  Agreement  except,  and to the
extent  that such  Force  Majeure  continues  for a period  exceeding  three (3)
months.  Hyaluron  will be entitled  to payment for any portion of the  Services
completed  and for any  noncancellable  expenses  incurred  prior to the date of
notification of termination  pursuant to this Agreement and Hyaluron will return
to Hemispherx all materials Hemispherx provided to Hyaluron hereunder, and, upon
Hemispherx's request, work completed or in progress by Hyaluron pursuant to this
Agreement,  including any reports and other  documentation.  For the purposes of
this  Section  13(i),  "Force  Majeure"  means any cause  beyond the  reasonable
control of the party in question  which for the  avoidance  of doubt and without
prejudice to the generality of the foregoing will include governmental  actions,
war, riots, terrorism,  civil commotion,  fire, flood, epidemic,  labor disputes
(excluding  labor  disputes  involving the work force or any part thereof of the
party in question.

         (j) During the term of this  Agreement,  Hyaluron and  Hemispherx  will
each maintain separate insurance  coverage as follows:  (1) Product Liability in
amounts of at least  US$2,000,000.00;  (2)  General  Liability  in amounts of at
least US$2,000,000.00; (3) Workers compensation or foreign employer liability in
amounts in accordance  with local and national  statute;  and (4) Property in an
amount of at least  US$500,000.00 in accordance with local and national statute.
All insurance amounts may be obtained by full, individual primary policy amount;
a primary amount of less than minimum  requirement  enhanced by a blanket excess
umbrella policy; or a combination of either. As an alternative to such insurance
minimums,  a party may provide evidence of adequate  financing,  for purposes of
self-insurance, as certified by an independent actuary. The Parties will provide
a certificate of insurance  upon request by the other.  The Parties will provide
each other with at least 30 days prior  written  notice of any material  change,
cancellation or expiration of the above-required insurance.

IN WITNESS  WHEREOF,  this Agreement has been signed by an authorized  corporate
officer of each party as of the date first above written.

 Hyaluron Inc.

By:       /s/
         --------------------------------------------
         Rebecca Butler, Esq.
         Corporate and Legal Affairs Manager
Date:

HemispherxBiopharma, Inc.

By:        /s/
         --------------------------------------------
Name:
         --------------------------------------------
 Title:
         --------------------------------------------
 Date:
         --------------------------------------------

<PAGE>

                                    Exhibit A

GENERAL PROVISIONS FOR THE PROJECT
Hyaluron Inc. will not:

o Modify the objectives  without client approval.
o Delete or modify any agreed specification  without client approval.
o Ship any supplies  without  expressed written client approval.

The Client will:
o        Provide raw materials in sufficient quantity on the agreed upon date
o        Provide to Hyaluron Inc. any information pertinent to the project that
         may be known to the client.
o        Provide  safety and  toxicology  data and  information  (both known and
         suspected,  including  a  MSDS)  for  any  compound  prior  to  project
         initiation as well as updates as information becomes available.
o        The client agrees that any document  submission to the FDA, domestic or
         international   regulatory   agencies  or  third  parties,   which  are
         associated  with work performed by Hyaluron  Inc.,  will be reviewed by
         the appropriate  Hyaluron Inc.  staff,  prior to the submission of said
         documents.

Audits:
Hyaluron  Inc.  allows  the  client  an annual  one-day  audit  with a  one-time
allowance  of up to three audit days given on the first  year,  and one visit to
the facility during  development and during the fill. The visitation  limitation
does not include technology  transfer issues that may arise and cause additional
visits.  Additional  audits or visits will be charged to the client at a rate of
$1,875 per day.  Audits and visits will be  scheduled in advance at a reasonable
time.

Liability:
Hyaluron  shall not be liable  for  damages  for,  nor shall this  agreement  be
terminable  by  reason  of,  any  delay or  default  in  Hyaluron's  performance
hereunder if such a delay or default is caused by conditions  beyond  Hyaluron's
control including,  but not limited to, acts of God,  regulation or law or other
action of government or any agency thereof, war,  insurrection,  civil commotion
destruction of production facilities or materials by earthquakes, fire, flood or
storm, labor disturbances,  epidemic, or failure of suppliers,  public utilities
or  common  carriers.  Hyaluron  agrees to  promptly  notify  the  client of any
interruptions of supply as described above and to employ all reasonable  efforts
toward prompt resumption of its performance when possible if such performance is
delayed or interrupted by reason of such event.

Supplies:
Unless otherwise specified in the proposal,  the client will be invoiced for the
cost  plus 15% of all  excipients,  supplies  and  capital  items  necessary  to
complete the project (such as vials, stoppers, seals, labels, etc.).

Shipping:
All shipping and handling charges will be billed to the client.

Waste Disposal:
Client  will be  responsible  for all waste  disposal  related to their  product
production. Client will be charged Hyaluron's cost plus 15%.

Variables and Additions:
The parties recognize that this is a development project leading to a commercial
production  and  supply,  and that,  as such,  unusual,  unique  and  unexpected
problems,  requirements,  or  developments  may arise which  require  additional
unanticipated  work such as additional  analytical work due to customer request,
out of specification results and/or analysis of samples placed on hold.

In the event any of these variables or others exist or occur,  Hyaluron Inc will
promptly identify them, and notify the client such that mutually agreeable terms
can be  reached.  The  additional  work will  proceed  when  agreement  has been
reached. Hyaluron will supply regulatory and other support for as requested at a
billable rate of $150/hour.

Cancellations and Rescheduling:
All  cancellation  and  rescheduling  requests  must be  submitted  in  writing.
Cancellation or rescheduling of clinical runs will incur the following fees:
-------------- ------------------------------- --------------------------------
Number of      Rescheduling                    Cancellation   Fee
days before    Fee  (if  rescheduled
scheduled run  within 30 days of initial)
-------------- ------------------------------- --------------------------------
-------------- ------------------------------- --------------------------------
> 30 days      None                            50% of Manufacturing Task Price
-------------- ------------------------------- --------------------------------
16 - 30 days   25% of Manufacturing Task Price 50% of Manufacturing Task Price
8 - 15 days    50% of Manufacturing Task Price 75% of Manufacturing Task Price
0 - 7 days     75% of Manufacturing Task Price 100% of Manufacturing Task Price
-------------- ------------------------------- --------------------------------
When canceling an entire  project,  the client forfeits the initial deposit paid
at the beginning of the project and is responsible for project costs incurred up
to the date of  receipt  of the  cancellation  notice as well as any  associated
costs to close down the project.

Terms of Payment:
50% of each task's  cost is due upon  acceptance  of the task;  40% of each task
becomes due as soon as filling  services have taken place;  the remainder is due
prior to Hyaluron's  release of the Batch Record to client.  All equipment costs
are due prior to Hyaluron's  placement of a P.O. for purchase.  All invoices are
due and payable  upon  receipt and past due after thirty (30) days from the date
of invoice.  All amounts  past due shall incur  interest at the rate of 1.5% per
month or the highest rate  permitted by law  (whichever  is less).  All payments
shall be made to  Hyaluron  Inc. at the  address  specified  on the front of the
invoice.

The client assumes all  responsibility  for all legal fees and other  collection
costs made necessary by default in payment.

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