Document:

Exhibit 4.15

                          REGISTRATION RIGHTS AGREEMENT

         This REGISTRATION RIGHTS AGREEMENT (this "Agreement"), dated and
effective this ___ day of October, 2003, by and among CYTOMEDIX, INC., a
Delaware corporation, (the "Company"), and FEQ Investments, 111 Presidential
Blvd., Suite 158A, Bala Cynwyd, PA 19004, together with any assignee or
transferee of all of its respective registration rights hereunder (the
"Investor").

         WHEREAS:

         A. In connection with the Services Agreement by and among the parties
hereto of even date herewith (the "Services Agreement") and the Warrant
Agreement by and among the parties hereto of even date herewith (the "Warrant
Agreement"), the Company has agreed, upon the terms and subject to the
conditions contained therein, to issue to the Investor shares of the Company's
common stock (the "Common Stock"); and

         B. The Company has agreed to provide certain registration rights under
the Securities Act of 1933, as amended, and the rules and regulations
thereunder, or any similar successor statute (collectively, the "1933 Act"), and
applicable state securities laws;

         NOW, THEREFORE, in consideration of the premises and the mutual
covenants contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Company and each
of the Investors hereby agree as follows:

                  1.       DEFINITIONS.

                  As used in this Agreement, the following terms shall have the
following meanings:

                  (a) "Effective Date" means the effective date of this
Agreement;

                  (b) "Confidential Offering Memorandum" means the Confidential
Offering Memorandum of the Company dated June 4, 2003;

                  (c) "Investors" includes the Investor and all other initial
holders of Common Stock to be included in a Registration Statement (defined
below) and any transferee or assignee who agrees to become bound by the
provisions of the applicable registration rights agreement;

                  (d) "Register," "registered," and "registration" refer to a
registration effected by preparing and filing a Registration Statement or
Statements in compliance with the 1933 Act and pursuant to Rule 415 under the
1933 Act or any successor rule providing for offering securities on a continuous
basis ("Rule 415"), and the declaration or ordering of effectiveness of such
Registration Statement by the United States Securities and Exchange Commission
(the "SEC");

<PAGE>

                  (e) "Registrable Securities" means the shares of Common Stock
offered, sold and issued pursuant to the Confidential Offering Memorandum and/or
any shares issued pursuant to a Services Agreement (including any shares
issuable upon exercise of warrants) and any shares of Common Stock issued or
issuable as a dividend on or in exchange for or otherwise with respect to any of
the foregoing, provided, that any shares of Common Stock which have been sold
pursuant to a Registration Statement or which may be sold without registration
or restriction (including volume limitations) shall cease to be Registrable
Securities hereunder; and

                  (f) "Registration Statement" means a registration statement of
the Company under the 1933 Securities Act.

         2. PIGGYBACK REGISTRATION.

                  (a) Following the Effective Date, each time that the Company
proposes to register a public offering solely of its Common Stock, other than
pursuant to a Registration Statement on Form S-4 or Form S-8 or similar or
successor forms (collectively, Excluded Forms), the Company shall promptly give
written notice of such proposed registration to all holders of Registrable
Securities, which shall offer such holders the right to request inclusion of any
Registrable Securities in the proposed Registration Statement.

                  (b) Each holder of Registrable Securities shall have ten (10)
days or such longer period as shall be set forth in the notice from the receipt
of such notice to deliver to the Company a written request specifying the number
of shares of Registrable Securities such holder intends to sell and the holder's
intended plan of disposition.

                  (c) In the event that the proposed Registration Statement by
the Company is, in whole or in part, an underwritten public offering of
securities of the Company, any request under Section 2(b) may specify that the
Registrable Securities be included in the underwriting on the same terms and
conditions as the shares of Common Stock, if any, otherwise being sold through
underwriters under such Registration Statement.

                  (d) Upon receipt of a written request pursuant to Section
2(b), the Company shall promptly use its best efforts to cause all such
Registrable Securities to be registered, to the extent required to permit sale
or disposition as set forth in the written request.

                  (e) Notwithstanding the foregoing, if the managing underwriter
of an underwritten public offering, determines and advises in writing that the
inclusion of all Registrable Securities proposed to be included in the
underwritten public offering, together with any other issued and outstanding
shares of Common Stock proposed to be included therein by holders other than the
holders of Registrable Securities (such other shares hereinafter collectively
referred to as the Other Shares), would interfere with the successful marketing
of the securities proposed to be included in the underwritten public offering,
then the number of such shares to be included in such underwritten public
offering shall be reduced, and shares shall be excluded from such underwritten
public offering in a number deemed necessary by such managing underwriter, first
by excluding shares held by the directors, officers, employees and founders of
the company, and then, to the extent necessary, by excluding Registrable
Securities participating in such underwritten public offering, pro rata based on
the number of shares of Registrable Securities each such holder proposed to
include.

<PAGE>

                  (f) All shares of Common Stock that are not included in the
underwritten public offering shall be withheld from the market by the holders
thereof for a period, not to exceed twelve (12) months following a public
offering, that the managing underwriter reasonably determines as necessary in
order to effect the underwritten public offering. The holders of such Shares
shall execute such documentation as the managing underwriter reasonably requests
to evidence this lock-up.

         3. OBLIGATIONS OF THE COMPANY.

         If and whenever the Company is under an obligation pursuant to the
provisions of Section 2 to use its best efforts to affect the registration of
any Registrable Securities, the Company shall have the following obligations:

                  (a) The Company shall prepare and file with the SEC a
Registration Statement with respect to such Registrable Securities, and
thereafter use its best efforts to cause such Registration Statement relating to
Registrable Securities to become effective as soon as possible after such
filing. The Company shall keep the Registration Statement effective pursuant to
Rule 415 at all times until such date as is the earlier of (i) the date on which
all of the Registrable Securities have been sold and (ii) the date on which the
Registrable Securities (in the opinion of counsel to the Company) may be
immediately sold to the public without registration or restriction (including
without limitation as to volume by each holder thereof) under the 1933 Act (the
"Registration Period"). The Registration Statement (including any amendments or
supplements thereto and prospectuses contained therein) shall not contain any
untrue statement of a material fact or omit to state a material fact required to
be stated therein, or necessary to make the statements therein, in light of the
circumstances, under which they were made, not misleading.

                  (b) The Company shall prepare and file with the SEC such
amendments (including post-effective amendments) and supplements to the
Registration Statements and the prospectus used in connection with the
Registration Statements as may be necessary to keep the Registration Statements
effective at all times during the Registration Period, and, during such period,
comply with the provisions of the 1933 Act with respect to the disposition of
all Registrable Securities of the Company covered by the Registration Statements
until such time as all such Registrable Securities have been disposed of in
accordance with the intended methods of disposition by the seller or sellers
thereof as set forth in the Registration Statements.

                  (c) The Company shall furnish to each Investor whose
Registrable Securities are included in a Registration Statement such number of
copies of a prospectus, including a preliminary prospectus, and all amendments
and supplements thereto and such other documents as such Investor may reasonably
request in order to facilitate the disposition of the Registrable Securities
owned by such Investor in accordance with the Registration Statement.

<PAGE>

                  (d) The Company shall use its best efforts to register or
qualify the Registrable Securities under such other securities or blue sky laws
of such jurisdictions as the Investor reasonably shall request. However, the
Company shall not be obligated, by reason thereof, to qualify as a foreign
corporation or file any general consent to service of process under the laws of
any such jurisdiction or subject itself to taxation as doing business in any
such jurisdiction.

                  (e) The Company will promptly respond to any and all comments
received from the SEC (which comments shall promptly be made available to the
Investors upon request, unless they relate to information for which the Company
has sought confidential treatment), with a view towards causing the Registration
Statement or any amendment thereto to be declared effective by the SEC as soon
as practicable, shall promptly file an acceleration request as soon as
practicable following the resolution or clearance of all SEC comments or, if
applicable, following notification by the SEC that any such Registration
Statement or any amendment thereto will not be subject to review and shall
promptly file with the SEC a final prospectus as soon as practicable following
receipt by the Company from the SEC of an order declaring the Registration
Statement effective.

                  (f) The Company may enter into an underwriting agreement which
shall be similar in form, scope and substance as is customary in underwritten
offerings, and may take all such other actions in connection therewith in order
to expedite or facilitate the disposition of the Registrable Securities. The
Company shall select the underwriter or underwriters to be engaged and shall
designate the representative, if any, of the underwriters so engaged. In such
connection, the Company shall make such representations and warranties to the
underwriters with respect to the business of the Company, the Registration
Statement, the prospectus and the documents, if any, incorporated or deemed to
be incorporated by reference in the Registration Statement, in each case in
form, substance and scope as are customarily made by issuers to underwriters in
underwritten (initial or secondary, as applicable) offerings and confirm the
same if and when requested. The Company shall also obtain opinions of counsel to
the Company and updates thereof, which counsel and opinions (in form, scope and
substance) shall be reasonably satisfactory to the representative of the
underwriters.

                  (g) The Company shall use its best efforts to prevent the
issuance of any stop order or other suspension of effectiveness of any
Registration Statement, and, if such an order is issued, to obtain the
withdrawal of such order at the earliest possible moment and to notify each
Investor who holds Registrable Securities being sold (or, in the event of an
underwritten offering, the managing underwriters) of the issuance of such order
and the resolution thereof.

                  (h) The Company shall make available for inspection by any
Investor or Investor's counsel, or any underwriter participating in any
disposition pursuant to a Registration Statement (collectively, the
"Inspectors") all pertinent financial and other records, and pertinent corporate
documents and properties of the Company (collectively, the "Records"), as shall
be reasonably deemed necessary by each Inspector to enable each Inspector to
exercise its due diligence responsibility, and cause the Company's officers,
directors and employees to supply all information which any Inspector may
reasonably request for purposes of such due diligence; provided, however, that
each Inspector shall hold in confidence and shall not make any disclosure
(except to an Investor) of any Record or other information which the Company
determines in good faith to be confidential, and of which determination the
Inspectors are so notified, unless (a) the disclosure of such Records is
necessary to avoid or correct a misstatement or omission in any Registration
Statement, (b) the release of such Records is ordered pursuant to a subpoena or
other order from a court or government body of competent jurisdiction, or (c)
the information in such Records has been made generally available to the public
other than by disclosure in violation of this or any other agreement. The
Company shall not be required to disclose any confidential information in such
Records to any Inspector until and unless such Inspector shall have entered into
confidentiality agreements (in form and substance satisfactory to the Company).
Each Inspector agrees that it shall, upon learning that disclosure of such
Records is sought in or by a court or governmental body of competent
jurisdiction or through other means, give prompt notice to the Company and allow
the Company, at its expense, to undertake appropriate action to prevent
disclosure of, or to obtain a protective order for, the Records deemed
confidential. Nothing herein (or in any other confidentiality agreement between
the Company and any Investor) shall be deemed to limit the Investor's ability to
sell Registrable Securities in a manner which is otherwise consistent with
applicable laws and regulations.

<PAGE>

                  (i) The Company shall as soon as practicable use its best
efforts to (i) cause all the Registrable Securities covered by the Registration
Statement to be listed on each national securities exchange on which securities
of the same class or series issued by the Company are then listed, if any, if
the listing of such Registrable Securities is then permitted under the rules of
such exchange, or (ii) to the extent the securities of the same class or series
are not then listed on a national securities exchange, secure the designation
and quotation, of all the Registrable Securities covered by the Registration
Statement on NASDAQ or, if not eligible for NASDAQ, on NASDAQ SmallCap or, if
not eligible for NASDAQ or NASDAQ SmallCap, on the Over-The-Counter Bulletin
Board ("OTCBB") and, without limiting the generality of the foregoing, to
arrange for at least two market makers to register with the National Association
of Securities Dealers, Inc. ("NASD") as such with respect to such Registrable
Securities.

                  (j) The Company shall provide a transfer agent and registrar,
which may be a single entity, for the Registrable Securities not later than the
effective date of the Registration Statement.

                  (k) The Company shall cooperate with the Investors who hold
Registrable Securities being offered and the managing underwriter or
underwriters, if any, to facilitate the timely preparation and delivery of
certificates (not bearing any restrictive legends) representing shares of Common
Stock and enable such certificates to be in such denominations or amounts, as
the case may be, as the managing underwriter or underwriters, if any, or the
Investors may reasonably request and registered in such names as the managing
underwriter or underwriters, if any, or the Investors may request. The Company
shall deliver, and shall cause legal counsel selected by the Company to deliver,
to the transfer agent for the Registrable Securities (with copies to the
Investors whose Registrable Securities are included in such Registration
Statement) an instruction that certain shares have been registered and may be
transferred.

<PAGE>

         4. OBLIGATIONS OF THE INVESTORS.

         In connection with the registration of the Registrable Securities, the
Investors shall have the following obligations:

                  (a) It shall be a condition precedent to the obligations of
the Company to complete the registration pursuant to this Agreement with respect
to the Registrable Securities of a particular Investor that such Investor shall
furnish to the Company such information regarding itself, the Registrable
Securities held by it, and the intended method of disposition of the Registrable
Securities held by it as shall be reasonably required to effect the registration
of such Registrable Securities and shall execute such documents in connection
with such registration as the Company may reasonably request. At least fifteen
(15) business days prior to the first anticipated filing date of the
Registration Statement, the Company shall notify each Investor of the
information the Company requires from each such Investor.

                  (b) Each Investor, by such Investor's written request for
inclusion of its Registrable Securities in a Registration Statement, agrees to
cooperate with the Company as reasonably requested by the Company in connection
with the preparation and filing of the Registration Statements hereunder.

                  (c) In the event the Company decides to engage the services of
an underwriter, each Investor by requesting inclusion of its Registrable
Securities in a Registration Statement agrees to enter into and perform such
Investor's obligations under an underwriting agreement, in usual and customary
form, including, without limitation, customary indemnification and contribution
obligations, with the managing underwriter of such offering and take such other
actions as are reasonably required in order to expedite or facilitate the
disposition of the Registrable Securities.

                  (d) Each Investor agrees that, upon receipt of any notice from
the Company of the happening of any event described in Section 3(g), such
Investor will immediately discontinue disposition of Registrable Securities
pursuant to the Registration Statement covering such Registrable Securities
until such Investor's receipt of the copies of the supplemented or amended
prospectus. If so directed by the Company, such Investor shall deliver to the
Company (at the expense of the Company) or destroy (and deliver to the Company a
certificate of destruction) all copies in such Investor's possession, of the
prospectus covering such Registrable Securities current at the time of receipt
of such notice.

                  (e) No Investor may participate in any underwritten
registration hereunder unless such Investor (i) agrees to sell such Investor's
Registrable Securities on the basis provided in any underwriting arrangements in
usual and customary form entered into by the Company, (ii) completes and
executes all questionnaires, powers of attorney, indemnities, underwriting
agreements and other documents reasonably required under the terms of such
underwriting arrangements, and (iii) agrees to pay its pro rata share of all
underwriting discounts and commissions and any expenses in excess of those
payable by the Company pursuant to Section 5 below.

<PAGE>

         5. EXPENSES OF REGISTRATION.

         All reasonable expenses (other than underwriting discounts and
commissions and stock transfer taxes, if any, and such fees for counsel,
printing, registration and other fees as state securities officials may require
that holders of shares pay) including, without limitation, all registration,
listing and qualification fees, printers and accounting fees, the fees and
disbursements of counsel for the Company, shall be paid by the Company.

         6. INDEMNIFICATION.

                  (a) To the extent permitted by law, the Company will
indemnify, hold harmless and defend (i) each Investor who holds such Registrable
Securities, (ii) the directors, officers, partners and each person who controls
any Investor within the meaning of the 1933 Act or the Securities Exchange Act
of 1934, as amended (the "1934 Act"), if any, (iii) any underwriter (as defined
in the 1933 Act) for the Investors, and (iv) the directors, officers, partners,
employees and each person who controls any such underwriter within the meaning
of the 1933 Act or the 1934 Act, if any (each, an "Indemnified Person"), against
any joint or several losses, claims, damages, liabilities or expenses
(collectively, together with actions, proceedings or inquiries by any regulatory
or self-regulatory organization, whether commenced or threatened, in respect
thereof, "Claims") to which any of them may become subject insofar as such
Claims arise out of or are based upon: (i) any untrue statement or alleged
untrue statement of a material fact in a Registration Statement or the omission
or alleged omission to state therein a material fact required to be stated or
necessary to make the statements therein, in light of the circumstances under
which they were made, not misleading; (ii) any untrue statement or alleged
untrue statement of a material fact contained in any preliminary prospectus if
used prior to the effective date of such Registration Statement, or contained in
the final prospectus (as amended or supplemented, if the Company files any
amendment thereof or supplement thereto with the SEC) or the omission or alleged
omission to state therein any material fact necessary to make the statements
made therein, in light of the circumstances under which the statements therein
were made, not misleading; or (iii) any violation or alleged violation by the
Company of the 1933 Act, the 1934 Act, any other law, including, without
limitation, any state securities law, or any rule or regulation thereunder
relating to the offer or sale of the Registrable Securities (the matters in the
foregoing clauses (i) through (iii) being, collectively, "Violations"). The
Company shall reimburse the Indemnified Person for any reasonable legal fees or
other reasonable expenses incurred by them in connection with investigating or
defending any such Claim, subject to section 6(c). Notwithstanding anything to
the contrary contained herein, the indemnification agreement contained in this
Section 6(a): (i) shall not apply to a Claim arising out of or based upon a
Violation which occurs in reliance upon and in conformity with information
furnished in writing to the Company by any Indemnified Person or underwriter for
such Indemnified Person expressly for use in connection with the preparation of
such Registration Statement or any such amendment thereof or supplement thereto,
if such prospectus was timely made available by the Company pursuant to Section
3(c) hereof (ii) shall not apply to amounts paid in settlement of any Claim if
such settlement is effected without the prior written consent of the Company,
which consent shall not be unreasonably withheld; (iii) with respect to any
preliminary prospectus, shall not inure to the benefit of any Indemnified
Person, if the untrue statement or omission of material fact contained in the
preliminary prospectus was corrected on a timely basis in the prospectus, as
then amended or supplemented, and such corrected prospectus was timely made
available by the Company and the Indemnified Person was promptly advised in
writing not to use the incorrect prospectus prior to the use giving rise to a
Violation and such Indemnified Person, notwithstanding such advice, used it, and
(iv) in the case of gross negligence or willful misconduct by such Investor.

<PAGE>

                  (b) In connection with any Registration Statement in which an
Investor is participating, each such Investor agrees to indemnify, hold harmless
and defend, to the same extent and in the same manner set forth in Section 6(a),
the Company, each of its directors, each of its officers who signs the
Registration Statement, each person, if any, who controls the Company within the
meaning of the 1933 Act or the 1934 Act, any underwriter and any other
stockholder selling securities pursuant to the Registration Statement or any of
its directors or officers or any person who controls such stockholder or
underwriter within the meaning of the 1933 Act or the 1934 Act (collectively and
together with an Indemnified Person, an "Indemnified Party"), against any Claim
to which any of them may become subject, under the 1933 Act, the 1934 Act or
otherwise, insofar as such Claim arises out of or is based upon any Violation by
such Investor, in each case to the extent (and only to the extent) that such
Violation occurs in reliance upon and in conformity with written information
furnished to the Company by such Investor expressly for use in connection with
such Registration Statement (or prospectus forming a part thereof); and subject
to Section 6(c) such Investor will reimburse any legal or other expenses
incurred by them in connection with investigating or defending any such Claim;
provided, however, that the indemnity agreement contained in this Section 6(b)
shall not apply (i) to amounts paid in settlement of any Claim if such
settlement is effected without the prior written consent of such Investor, which
consent shall not be unreasonably withheld and (ii) in the case of gross
negligence or willful misconduct by the Company; provided, further, however,
that the Investor shall be liable under this Agreement (including this Section
6(b) and Section 7) for only that amount as does not exceed the net proceeds to
such Investor as a result of the sale of Registrable Securities pursuant to such
Registration Statement. Such indemnity shall remain in full force and effect
regardless of any investigation made by or on behalf of such Indemnified Party
and shall survive the transfer of the Registrable Securities by the Investors
pursuant to Section 9. Notwithstanding anything to the contrary contained
herein, the indemnification agreement contained in this Section 6(b) with
respect to any preliminary prospectus shall not inure to the benefit of any
Indemnified Party if the untrue statement or omission of material fact contained
in the preliminary prospectus was corrected on a timely basis in the prospectus,
as then amended or supplemented.

                  (c) Promptly after receipt by an Indemnified Person or
Indemnified Party under this Section 6 of notice of the commencement of any
action (including any governmental action), such Indemnified Person or
Indemnified Party shall, if a Claim in respect thereof is to be made against any
indemnifying party under this Section 6, deliver to the indemnifying party a
written notice of the commencement thereof, and the indemnifying party shall
have the right to participate in, and, to the extent the indemnifying party so
desires, jointly with any other indemnifying party similarly noticed, to assume
control of the defense thereof with counsel mutually satisfactory to the
indemnifying party and the Indemnified Person or the Indemnified Party, as the
case may be; provided, however, that an Indemnified Person or lndemnified Party
shall have the right to retain its own counsel with the fees and expenses to be
paid by the indemnifying party, if, in the reasonable opinion of counsel
retained by the indemnifying party, the representation by such counsel of the
Indemnified Person or Indemnified Party and the indemnifying party would be
inappropriate due to actual or potential differing interests between such
Indemnified Person or Indemnified Party and any other party represented by such
counsel in such proceeding. The indemnifying party shall pay for only one
separate legal counsel for the Indemnified Persons or the Indemnified Parties,
as applicable, and such legal counsel shall be selected by Investors holding at
least seventy-five percent (75%) of the Registrable Securities included in the
Registration Statement to which the Claim relates, if the Investors are entitled
to indemnification hereunder, or the Company, if the Company is entitled to
indemnification hereunder, as applicable. The failure to deliver written notice
to the indemnifying party within a reasonable time of the commencement of any
such action shall not relieve such indemnifying party of any liability to the
Indemnified Person or Indemnified Party under this Section 6, except to the
extent that the indemnifying party is actually prejudiced in its ability to
defend such action. The indemnification required by this Section 6 shall be made
by periodic payments of the amount thereof during the course of the
investigation or defense, as such expense, loss, damage or liability is incurred
and is due and payable.

<PAGE>

         7.       CONTRIBUTION.

         To the extent any indemnification by an indemnifying party is
prohibited or limited by law, the indemnifying party agrees to make the maximum
contribution with respect to any amounts for which it would otherwise be liable
under Section 6 to the fullest extent permitted by law; provided, however, that
(i) no contribution shall be made under circumstances where the maker would not
have been liable for indemnification under the fault standards set forth in
Section 6, (ii) no seller of Registrable Securities guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the 1933 Act) shall be
entitled to contribution from any seller of Registrable Securities who was not
guilty of such fraudulent misrepresentation, and (iii) contribution (together
with any indemnification or other obligations under this Agreement) by any
seller of Registrable Securities shall be limited in amount to the net amount of
proceeds received by such seller from the sale of such Registrable Securities.

         8.       REPORTS UNDER THE 1934 ACT.

         With a view to making available to the Investors the benefits of Rule
144 promulgated under the 1933 Act or any other similar rule or regulation of
the SEC that may at any time permit the investors to sell Registrable Securities
to the public without registration ("Rule 144"), the Company will use its best
efforts to:

                  (a) make and keep public information available, as those terms
are understood and defined in Rule 144;

<PAGE>

                  (b) file with the SEC in a timely manner all reports and other
documents required of the Company under the 1933 Act and the 1934 Act so long as
the Company remains subject to such requirements and the filing of such reports
and other documents is required for the applicable provisions of Rule 144; and

                  (c) furnish to each Investor so long as such Investor owns
Registrable Securities, promptly upon request, (i) a written statement by the
Company that it has complied with the reporting requirements of Rule 144, the
1933 Act and the 1934 Act, (ii) a copy of the most recent annual or quarterly
report of the Company and such other reports and documents so filed by the
Company, and (iii) such other information as may be reasonably requested to
permit the Investors to sell such securities pursuant to Rule 144 without
registration.

         9.       AMENDMENT OF REGISTRATION RIGHTS.

         Provisions of this Agreement may be amended and the observance thereof
may be waived (either generally or in a particular instance and either
retroactively or prospectively), only with written consent of the Company and
Investors who hold at least seventy-five percent (75%) of the Registrable
Securities. Any amendment or waiver effected in accordance with this Section 9
shall be binding upon each Investor and the Company.

         10.      MISCELLANEOUS.

                  (a) A person or entity is deemed to be a holder of Registrable
Securities whenever such person or entity is the owner of record of such
Registrable Securities. If the Company receives conflicting instructions,
notices or elections from two or more persons or entities with respect to the
same Registrable Securities, the Company shall act upon the basis of
instructions, notice or election received from the registered owner of such
Registrable Securities.

                  (b) Any notices required or permitted to be given under the
terms hereof shall be sent by certified or registered mail (return receipt
requested), delivered personally or by courier (including a recognized overnight
delivery service), or by facsimile and shall be effective five days after being
placed in the mail, if mailed by regular United States mail, or upon receipt, if
delivered personally, by courier (including a recognized overnight delivery
service), or by facsimile, in each case addressed to a party. The addresses for
such communications shall be as follows unless otherwise notified:

                           If to the Company:

                           Cytomedix, Inc.
                           Attn:  Kent Smith, Chief Executive Officer
                           1523 S. Bowman Rd, Suite A
                           Little Rock, AR  72211

<PAGE>

                           With copy to:

                           Williams & Anderson LLP
                           Attn:  Peter Kumpe
                           111 Center Street, 22nd Floor
                           Little Rock, Arkansas 72201

                           If to the Investor:

                           FEQ Investments
                           Attn:  Ernest Bartlett
                           111 Presidential Blvd.
                           Suite 158A
                           Bala Cynwyd, PA 19004

                  (c) Failure of any party to exercise any right or remedy under
this Agreement or otherwise, or delay by a party in exercising such right or
remedy, shall not operate as a waiver thereof.

                  (d) THIS AGREEMENT SHALL BE ENFORCED, GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF ARKANSAS, WITHOUT REGARD
TO THE PRINCIPLES OF CONFLICT OF LAWS. THE PARTIES HERETO HEREBY SUBMIT TO THE
EXCLUSIVE JURISDICTION OF THE UNITED STATES FEDERAL COURTS LOCATED IN LITTLE
ROCK, ARKANSAS WITH RESPECT TO ANY DISPUTE ARISING UNDER THIS AGREEMENT, THE
AGREEMENTS ENTERED INTO IN CONNECTION HEREWITH OR THE TRANSACTIONS CONTEMPLATED
HEREBY OR THEREBY. BOTH PARTIES IRREVOCABLY WAIVE THE DEFENSE OF AN INCONVENIENT
FORUM TO THE MAINTENANCE OF SUCH SUIT OR PROCEEDING. BOTH PARTIES FURTHER AGREE
THAT SERVICE OF PROCESS UPON A PARTY MAILED BY FIRST CLASS MAIL SHALL BE DEEMED
IN EVERY RESPECT EFFECTIVE SERVICE OF PROCESS UPON THE PARTY IN ANY SUCH SUIT OR
PROCEEDING. NOTHING HEREIN SHALL AFFECT ANY PARTY'S RIGHT TO SERVE PROCESS IN
ANY OTHER MANNER PERMITTED BY LAW. ALL PARTIES AGREE THAT A FINAL NON-APPEALABLE
JUDGMENT IN ANY SUCH SUIT OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED
IN OTHER JURISDICTIONS BY SUIT ON SUCH JUDGMENT OR IN ANY OTHER LAWFUL MANNER.
THE PARTY WHICH DOES NOT PREVAIL IN ANY DISPUTE ARISING UNDER THIS AGREEMENT
SHALL BE RESPONSIBLE FOR ALL FEES AND EXPENSES, INCLUDING ATTORNEYS FEES,
INCURRED BY THE PREVAILING PARTY IN CONNECTION WITH SUCH DISPUTE.

                  (e) In the event that any provision of this Agreement is
invalid or unenforceable under any applicable statute or rule of law, then such
provision shall be deemed inoperative to the extent that it may conflict
therewith and shall be deemed modified to conform to such statute or rule of
law. Any provision hereof which may prove invalid or unenforceable under any law
shall not affect the validity or enforceability of any other provision hereof

<PAGE>

                  (f) This Agreement, the Warrant Agreement, and the Services
Agreement (including all schedules and exhibits thereto) constitute the entire
agreement among the parties hereto with respect to the subject matter hereof and
thereof. There are no restrictions, promises, warranties or undertakings, other
than those set forth or referred to herein and therein. This Agreement, the
Warrant Agreement, and the Services Agreement supersede all prior agreements and
understandings among the parties hereto with respect to the subject matter
hereof and thereof

                  (g) The headings in this Agreement are for convenience of
reference only and shall not form part of, or affect the interpretation of, this
Agreement.

                  (h) This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original but all of which shall
constitute one and the same agreement and shall become effective when
counterparts have been signed by each party and delivered to the other party.
This Agreement, once executed by a party, may be delivered to the other party
hereto by facsimile transmission of a copy of this Agreement bearing the
signature of the party so delivering this Agreement.

                  (i) Each party shall do and perform, or cause to be done and
performed, all such further acts and things, and shall execute and deliver all
such other agreements, certificates, instruments and documents, as the other
party may reasonably request in order to carry out the intent and accomplish the
purposes of this Agreement and the consummation of the transactions contemplated
hereby.

                  (j) Except as otherwise provided herein, all consents and
other determinations to be made by the Investors pursuant to this Agreement
shall be made by Investors owning at least seventy-five percent (75%) of the
Registrable Securities, determined as if all of the Warrants then outstanding
have been converted into Registrable Securities.

                  (k) The Company acknowledges that a breach by it of its
obligations hereunder will cause irreparable harm to each Investor by vitiating
the intent and purpose of the transactions contemplated hereby. Accordingly, the
Company acknowledges that the remedy at law for breach of its obligations under
this Agreement will be inadequate and agrees, in the event of a breach or
threatened breach by the Company of any of the provisions under this Agreement,
that each lnvestor shall be entitled, in addition to all other available
remedies in law or in equity, and in addition to the penalties assessable
herein, to an injunction or injunctions restraining, preventing or curing any
breach of this Agreement and to enforce specifically the terms and provisions
hereof without the necessity of showing economic loss and without any bond or
other security being required.

                  (l) The language used in this Agreement will be deemed to be
the language chosen by the parties to express their mutual intent, and no rules
of strict construction will be applied against any party.

<PAGE>

         IN WITNESS WHEREOF, the Company and the undersigned Investor has caused
this Agreement to be duly executed as of the date first above written.

CYTOMEDIX, INC.                             INVESTOR:

____________________________________        ____________________________________
By: Kent Smith                              By:  Ernest Bartlett
    Chief Executive Officer                 Its: ______________________________Exhibit 4.16

THIS WARRANT AND THE SECURITIES ISSUABLE UPON THE CONVERSION HEREOF HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR
UNDER ANY APPLICABLE STATE SECURITIES LAWS. ALL SUCH SECURITIES ARE SUBJECT TO
RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE OFFERED FOR SALE,
SOLD, ASSIGNED, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED (A "TRANSFER")
WITHOUT REGISTRATION UNDER THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR
WITHOUT AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER THAT SUCH REGISTRATION
IS NOT REQUIRED BECAUSE THE TRANSFER IS EXEMPT FROM REGISTRATION OR THE TRANSFER
MAY BE MADE PURSUANT TO RULE 144 OR RULE 144A UNDER THE ACT. INVESTORS SHOULD BE
AWARE THAT THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT
FOR AN INDEFINITE PERIOD OF TIME.

                              COMMON STOCK WARRANT

                   For the Purchase of Shares of Common Stock
                                       of

                                 CYTOMEDIX, INC.

                                  April 1, 2004

         THIS CERTIFIES THAT, FEQ Investments, for value received, and its
successors and assigns (collectively, "Warrantholder"), is entitled to subscribe
for and purchase, subject to the terms hereof, from Cytomedix, Inc., a Delaware
corporation (the "Company"), FOUR HUNDRED FIFTY THOUSAND (450,000) fully-paid
and non-assessable shares (the "Shares") of the Company's Common Stock, par
value $0.0001 per share ("Common Stock"), at a price per share equal to $1.00
(the "Warrant Exercise Price"), such price and such number of shares being
subject to adjustment upon the occurrence of the contingencies set forth in this
Warrant.

         This Warrant is granted in connection with the Services Agreement,
dated October 21, 2004, by and between the Company and Warrantholder (the
"Services Agreement").

         1. Term. Except as otherwise provided for herein, the FOUR HUNDRED
FIFTY THOUSAND (450,000) Shares represented by this Warrant shall be
exercisable, in whole or in part, at any time and from time to time, after the
original issuance date of this Warrant and ending at 5:00 p.m., central standard
time, on the fifth anniversary of the original issuance date of this Warrant
(the "Expiration Date").

         2. Number of Shares; Vesting of Shares. Subject to the terms and
conditions set forth herein, including the Expiration Date, the Warrantholder is
entitled, upon surrender of this Warrant and payment of the Warrant Exercise
Price, to purchase from the Company the Shares represented by this Warrant. This
Warrant shall be exercisable, in whole or in part, at any time and from time to
time, after the original issuance date of this Warrant until the Expiration
Date. Such numbers of Shares are subject to adjustment upon the occurrence of
the contingencies set forth in this Warrant.

<PAGE>

         3. Method of Exercise; Payment; Issuance of New Warrant. The purchase
right represented by this Warrant may be exercised by the holder hereof, in
whole or in part and from time to time, by the surrender of this Warrant
(together with the notice of exercise form attached hereto as Exhibit A, duly
executed) at the principal office of the Company and by the payment to the
Company, by check or bank draft, of an amount equal to the then applicable
Warrant Exercise Price per share multiplied by the number of Shares then being
purchased. The person or persons in whose name(s) any certificate(s)
representing the Shares shall be issuable upon exercise of this Warrant shall be
deemed to have become the holder(s) of record of, and shall be treated for all
purposes as the record holder(s) of, the Shares represented thereby (and such
Shares shall be deemed to have been issued) immediately prior to the close of
business on the date or dates upon which this Warrant is exercised. In the event
of any exercise of the rights represented by this Warrant, certificates for the
Shares of stock so purchased shall be delivered to the holder hereof as soon as
possible and in any event within 30 days of receipt of such notice and, unless
this Warrant has been fully exercised or expired, a new Warrant representing the
portion of the Shares, if any, with respect to which this Warrant shall not then
have been exercised shall also be issued to the holder hereof as soon as
possible and in any event within such 30-day period.

         4. Stock Fully Paid; Reservation of Shares. All Shares that may be
issued upon the exercise of the rights represented by this Warrant shall, upon
issuance, be fully paid and nonassessable, and free from all taxes, liens and
charges with respect to the issue thereof. During the period within which the
rights represented by the Warrant may be exercised, the Company shall at all
times have authorized and reserved for the purpose of issuance upon exercise of
the purchase rights evidenced by this Warrant, a sufficient number of shares of
its Common Stock to provide for the exercise of the rights represented by this
Warrant.

         5. Adjustment of Warrant Exercise Price and Number of Shares. The
number and kind of securities purchasable upon the exercise of the Warrant and
the Warrant Exercise Price shall be subject to adjustment from time to time upon
the occurrence of certain events, as follows:

                  (a) Reclassification or Merger. In case of any
reclassification, change or conversion of securities of the class issuable upon
exercise of this Warrant (other than a change in par value, or from par value to
no par value, or from no par value to par value, or as a result of a subdivision
or combination), or in case of any merger of the Company with or into another
corporation (other than a merger with another corporation in which the Company
is a continuing corporation and which does not result in any reclassification or
change of outstanding securities issuable upon exercise of this Warrant), or in
case of any sale of all or substantially all of the assets of the Company, the
Company, or such successor or purchasing corporation, as the case may be, shall
execute a new Warrant (in form and substance satisfactory to the Warrantholder)
providing that the holder of this Warrant shall have the right to exercise such
new Warrant and upon such exercise to receive, the kind and amount of shares of
stock, other securities, money and property receivable upon such
reclassification, change or merger by a holder of one share of Common Stock.
Such new Warrant shall provide for adjustments that shall be as nearly
equivalent as may be practicable to the adjustments provided for in this Section
5, and appropriate adjustments shall be made to the purchase price per share
payable hereunder, provided the aggregate purchase price shall remain the same.
The provisions of this subsection (a) shall similarly apply to successive
reclassification, changes, mergers and transfers.

<PAGE>

                  (b) Subdivisions or Combination of Shares. If the Company at
any time while this Warrant remains outstanding and unexpired shall subdivide or
combine its Common Stock, the Warrant Exercise Price and the number of shares of
Common Stock issuable upon exercise hereof shall be proportionately adjusted
such that the aggregate exercise price of this Warrant shall at all times
remains equal. Any adjustments under this subsection (b) shall become effective
at the close of business on the date the subdivision or combination becomes
effective.

                  (c) Stock Dividends. If the Company at any time while this
Warrant is outstanding and unexpired shall pay a dividend payable in shares of
Common Stock (except any distribution specifically provided for in the foregoing
subsections (a) and (b)), then the Warrant Exercise Price shall be adjusted,
from and after the date of determination of shareholders entitled to receive
such dividend or distribution, to that price determined by multiplying the
Warrant Exercise Price in effect immediately prior to such date of determination
by a fraction, (i) the numerator of which shall be the total number of shares of
Common Stock outstanding immediately prior to such dividend or distribution and
(ii) the denominator of which shall be the total number of shares of Common
Stock outstanding immediately after such dividend or distribution and the number
of shares of Common Stock subject to this Warrant shall be proportionately
adjusted. Any adjustment under this subsection (c) shall become effective as of
the record date of such dividend, or in the event that no record date is fixed,
upon the making of such dividend.

                  (d) No Impairment. The Company will not, by amendment of its
Articles of Incorporation (as amended, restated, supplemented or otherwise
modified from time) or through any reorganization, recapitalization, transfer of
assets, consolidation, merger, dissolution, issue or sale of securities or any
other voluntary action, avoid or seek to avoid the observance or performance of
any of the terms to be observed or performed hereunder by the Company, but will
at all times in good faith assist in the carrying out of all the provisions of
this Section 5 and in the taking of all such action as may be necessary or
appropriate in order to protect the rights of the holder of this Warrant against
impairment.

         6. Notice of Adjustments. Whenever the Warrant Exercise Price shall be
adjusted pursuant to the provisions hereof, the Company shall within 10 days of
such adjustment deliver a certificate signed by its chief executive officer or
chief financial officer to the registered holder(s) hereof setting forth, in
reasonable detail, the event requiring the adjustment, the amount of the
adjustment, the method by which such adjustment was calculated and the Warrant
Exercise Price after giving effect to such adjustment.

         7. Fractional Shares. No fractional shares will be issued in connection
with any exercise hereunder, but in lieu of such fractional shares the Company
shall make a cash payment therefor upon the basis of the Warrant Exercise Price
then in effect.

<PAGE>

         8. Transfers and Exchanges. This Warrant may be transferred upon the
prior written consent of the Company, which consent shall not be unreasonably
withheld, provided that no such consent shall be required for the transfer of
this Warrant by operation of law.

         9. Rights as Shareholders. No holder of this Warrant, as such, shall be
entitled to vote or receive dividends or be deemed the holder of Common Stock,
nor shall anything contained herein be construed to confer upon the holder of
this Warrant, as such, any of the rights of a shareholder of the Company or any
right to vote for the election of directors or upon any matter submitted to
shareholders at any meeting thereof, or to receive notice of meetings, or to
receive dividends or subscription rights or otherwise until this Warrant shall
have been exercised and the shares of Common Stock purchasable upon the exercise
hereof shall have become deliverable, as provided herein. However, nothing in
this Section 9 shall limit the right of the Warrantholder to be provided the
notices required under this Warrant.

         10. Modification and Waiver. Any term of this Warrant may be amended
and the observance of any term of this Warrant may be waived (either generally
or in a particular instance and either retroactively or prospectively), with the
written consent of the Company and the holders of a majority of shares of Common
Stock issued or issuable upon exercise of this Warrant. Any waiver or amendment
effected in accordance with this Section shall be binding upon each holder of
any Shares issuable upon exercise of this Warrant.

         11. Notices. Any notice, request or other document required or
permitted to be given or delivered to the holder hereof or the Company shall be
delivered, or shall be sent by certified or registered mail, postage prepaid, to
each such holder at his, her or its address as shown on the books of the Company
or to the Company at the address indicated on the signature page of this
Warrant.

         12. Assumption of Warrant. If at any time, while this Warrant, or any
portion thereof, is outstanding and unexpired there shall be (i) an acquisition
of the Company by another entity by means of a merger, consolidation or other
transaction or series of related transactions resulting in the exchange of the
outstanding shares of the Company's capital stock such that shareholders of the
Company prior to such transaction own, directly or indirectly, less than 50% of
the voting power of the surviving entity or (ii) a sale or transfer of all or
substantially all of the Company's assets to any other person, then, as a part
of such acquisition, sale or transfer, lawful provision shall be made so that
the Warrantholder shall thereafter be entitled to receive upon exercise of this
Warrant, during the period specified herein and upon payment of the Warrant
Exercise Price then in effect, the number of shares of stock or other securities
or property of the successor corporation resulting from such acquisition, sale
or transfer which a holder of the shares deliverable upon exercise of this
Warrant would have been entitled to receive in such acquisition, sale or
transfer if this Warrant had been exercised immediately before such acquisition,
sale or transfer, all subject to further adjustment as provided in this Section
12; and in any such case, appropriate adjustment (as determined in good faith by
the Company's Board of Directors) shall be made in the application of the
provisions herein set forth with respect to the rights and interests thereafter
of the Warrantholder to the end that the provisions set forth herein (including
provisions with respect to changes in and other adjustments of the number of
Shares of the Warrantholder is entitled to purchase) shall thereafter by
applicable, as nearly as possible, in relation to any shares of Common Stock or
other securities or other property thereafter deliverable upon the exercise of
this Warrant.

<PAGE>

         13. Binding Effect on Successors. This Warrant shall be binding upon
any corporation succeeding the Company by merger, consolidation or acquisition
of all or substantially all of the Company's assets, and all of the obligations
of the Company relating to the Common Stock issuable upon the exercise of this
Warrant shall survive the exercise and termination of this Warrant and all of
the covenants and agreements of the Company shall inure to the benefit of the
successors and assigns of the Warrantholder. The Company will, at the time of
the exercise of this Warrant, in whole or in part, upon request of the
Warrantholder but at the Company's expense, acknowledge in writing its
continuing obligation to the Warrantholder in respect of any rights to which the
Warrantholder shall continue to be entitled after such exercise in accordance
with this Warrant; provided, that the failure of the Warrantholder to make any
such request shall not affect the continuing obligation of the Company to the
Warrantholder in respect of such rights.

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

         15. Legend on Warrant Shares. The certificates representing the Warrant
Shares shall bear a legend substantially similar to the following:

         THE SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER THE
         SECURITIES ACT OF 1933 OR THE SECURITIES LAW OF ANY STATE AND ARE BEING
         OFFERED AND SOLD IN RELIANCE ON EXEMPTIONS FROM THE REGISTRATION
         REQUIREMENTS OF THE SECURITIES ACT OF 1933 AND SUCH LAWS. THE
         SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE
         AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE
         SECURITIES ACT OF 1933 AND SUCH LAWS PURSUANT TO REGISTRATION OR
         EXEMPTION THEREFROM.

         16. Registration Rights. The Holder shall be entitled to registration
rights pursuant to the terms of that certain Registration Rights Agreement
between the Company and the signatories thereto of even date herewith.

         17. Descriptive Headings. The descriptive headings of the several
sections of this Warrant are inserted for convenience only and do not constitute
a part of this Warrant.

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

<PAGE>

         19. Counterparts. This Common Stock Warrant may be executed in
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

IN WITNESS WHEREOF, this Common Stock Warrant is executed effective as of the
date first above written.

                        CYTOMEDIX, INC.

                        By: ______________________________________

                        Address:
                        1523 South Bowman Rd., Suite A
                        Little Rock, Arkansas 72211

                        Accepted and Agreed:

                        __________________________________________
                        Ernest Bartlett, _______________ of FEQ Investments

                        Address:
                        111 Preseidential Blvd., Suite 158A
                        Bala Cynwyd, PA 19004

<PAGE>

                                    EXHIBIT A

                               NOTICE OF EXERCISE

To:
   ------------------------------

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

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

Attn:
   ------------------------------

         1. The undersigned hereby elects to purchase ___________ shares of
Common Stock of Cytomedix, Inc. pursuant to the terms of the attached Warrant,
and tenders herewith payment of the purchase price of such shares in full in the
amount of ___________ by wire transfer or by certified or bank check.

         2. Please issue a certificate or certificates representing said shares
in the name of the undersigned or in such other name or names as are specified
below

                  Name:
                          ----------------------------
                  Address:
                          ----------------------------

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

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

----------------------------            -----------------------------------
(Date)                                  (Signature)

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