Document:

exv10w3

 

Exhibit 10.3

Stock Option Agreement

     ADVENTRX Pharmaceuticals, Inc., a Delaware corporation (the “Company”), and the undersigned
person (“Optionee”) have entered into this Stock Option Agreement (this “Agreement”) effective as
of the Grant Date set forth below. The Company has granted to Optionee the option (the “Option”)
to purchase the number of shares (the “Shares”) of common stock, par value $0.001 per share, of the
Company (“Common Stock”) set forth below at the per Share purchase price (the “Exercise Price”) set
forth below, pursuant to the terms of this Agreement. The Option was granted under the Company’s
2005 Equity Incentive Plan (the “Plan”).

	 	 	 	 	 	 	 	 	 
	Optionee Name:

	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Grant Date:	 	MM/DD/YYYY	 	 
	 
	 	 	 	 	 	 	 	 
	Vesting Commencement Date:	 	MM/DD/YYYY	 	 
	 
	 	 	 	 	 	 	 	 
	Shares:
	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Exercise Price:

	 	$	 	 	 	 	 
	 

	 	 	 	 	 	 

1. Terms of Plan. All capitalized terms used in this Agreement and not otherwise defined shall
have the meanings ascribed thereto in the Plan. Optionee confirms and acknowledges that Optionee
has received and reviewed copies of the Plan and the Information Statement, dated
                    , with respect to the Plan. Optionee and the Company agree that the terms and
conditions of the Plan are incorporated in this Agreement by this reference.

2. Nature of the Option. The Option has been granted as an incentive to Optionee’s Continuous
Service, and is in all respects subject to such Continuous Service and all other terms and
conditions of this Agreement. The Option is intended to be a Nonstatutory Option within the
meaning of the Plan.

3. Vesting and Exercise of Option. The Option shall vest and become exercisable during its term in
accordance with the following provisions:

     (a) Vesting and Right of Exercise.

(i) The Option shall vest and become exercisable with respect to 1/12th
of the Shares at the end of each calendar month after the Vesting Commencement Date
set forth in the preamble of this Agreement, subject to Optionee’s Continuous
Service.

(ii) Notwithstanding Section 6.3 of the Plan, in the event of termination of
Optionee’s Continuous Service (including as a result of Optionee’s death or
disability), the Option shall be exercisable to the extent (but only to the extent)
it is vested on the date of termination of Continuous Service and only during the
thirty-six (36) months after such date of termination, but in no event after the

1

 

Expiration
Date (as defined below). To the extent Optionee does not exercise the Option within
the time period specified in the preceding sentence, the Option shall automatically
terminate.

(iii) No fraction of a Share shall be purchasable or deliverable upon exercise of
the Option, but in the event any adjustment hereunder of the number of Shares shall
cause such number to include a fraction of a Share, such number of Shares shall be
rounded down to the nearest smaller whole number of Shares.

     (b) Method of Exercise. In order to exercise any portion of the Option which has vested,
Optionee shall notify the Company in writing of the election to exercise such vested portion of
the Option and the number of Shares in respect of which the Option is being exercised, by
executing and delivering the Notice of Exercise of Stock Option in the form attached hereto as
Exhibit A (the “Exercise Notice”). The certificate or certificates representing Shares as to
which the Option has been exercised shall be registered in the name of Optionee.

     (c) Restrictions on Exercise.

(i) Optionee may exercise the Option only with respect to Shares that have vested in
accordance with Section 3(a) of this Agreement.

(ii) Optionee may not exercise the Option if the issuance of the Shares upon such
exercise or the method of payment of consideration for such Shares would constitute
a violation of any applicable federal or state securities law or other law or
regulation.

(iii) The method and manner of payment of the Exercise Price will be subject to the
rules under Part 221 of Title 12 of the Code of Federal Regulations as promulgated
by the Federal Reserve Board if such rules apply to the Company at the date of
exercise.

(iv) As a condition to the exercise of the Option, the Company may require Optionee
to make any representation or warranty to the Company at the time of exercise of the
Option as in the opinion of legal counsel for the Company may be required by any
applicable law or regulation, including the execution and delivery of an appropriate
representation statement. Accordingly, the stock certificate(s) for the Shares
issued upon exercise of the Option may bear appropriate legends restricting
transfer.

(v) Optionee may only exercise the Option upon, and the obligations of the Company
under this Agreement to issue Shares to Optionee upon any exercise of the Option is
conditioned on, satisfaction of all federal, state, local or other withholding tax
obligations associated with such exercise (whether so required to secure for the
Company an otherwise available tax deduction or otherwise) (“Withholding
Obligations”). The Company reserves the right to require
Optionee to remit to the Company an amount sufficient to satisfy all Withholding

2

 

Obligations prior to the issuance of any Shares upon any exercise of the Option.
Optionee authorizes the Company to withhold in accordance with applicable law from
any compensation payable to Optionee any amounts necessary to meet any Withholding
Obligations.

4. Non-Transferability of Option. The Option may not be transferred in any manner other than by
will or by the laws of descent and distribution. The terms of this Agreement shall bind the
executors, administrators, heirs and successors of Optionee.

5. Method of Payment.

     (a) Upon exercise, Optionee shall pay the aggregate Exercise Price of the Shares purchased
by any of the following methods, or a combination thereof, at the election of Optionee:

(i) by cash;

(ii) by certified or bank cashier’s check;

(iii) if shares of Common Stock are traded on an established stock market or
exchange on the date of exercise, by surrender of whole shares of Common Stock
having a Market Value equal to the portion of the Exercise Price to be paid by such
surrender, provided that if such shares of Common Stock to be surrendered
were acquired upon exercise of an Incentive Option, Optionee must have first
satisfied the holding period requirements under Section 422(a)(1) of the Code; or

(iv) if shares of Common Stock are traded on an established stock market or exchange
on the date of exercise, pursuant to and under the terms and conditions of any
formal cashless exercise program authorized by the Company entailing the sale of the
Stock subject to an Option in a brokered transaction (other than to the Company).

     (b) If Optionee shall pay all or a portion of the aggregate Exercise Price due upon an
exercise of the Option by surrendering shares of Common Stock pursuant to Section 5(a)(iii),
then Optionee:

(i) shall accompany the Exercise Notice with a duly endorsed blank stock power with
respect to the number of shares of Common Stock to be surrendered and shall deliver
the certificate(s) representing such surrendered shares to the Company at its
principal offices within two business days after the date of the Exercise Notice;

(ii) authorizes and directs the Secretary of the Company to transfer so many of the
shares of Common Stock represented by such certificate(s) as are necessary to pay
the aggregate Exercise Price in accordance with this Agreement;

3

 

(iii) agrees that Optionee may not surrender any fractional share as payment of any
portion of the Exercise Price; and

(iv) agrees that, notwithstanding any other provision in this Agreement, Optionee
may only surrender shares of Common Stock owned by Optionee as of the date of the
Exercise Notice in the manner and within the time periods allowed under Rule 16b-3
promulgated under the Exchange Act.

6. Adjustments to Option. Subject to any required action by the stockholders of the Company, the
number of Shares covered by the Option, and the Exercise Price, shall be proportionately adjusted
in accordance with and pursuant to Section 8.1 of the Plan. Such adjustments shall be made by the
Committee, whose determination in that respect shall be final, binding and conclusive. Except as
expressly provided in this Agreement, no issue by the Company of shares of stock of any class, or
securities convertible into shares of stock of any class, shall affect, and no adjustment by reason
thereof shall be made with respect to, the number of Shares or the Exercise Price.

7. Term of Option. The Option may not be exercised more than 10 years after the Grant Date (the
“Expiration Date”), and may be exercised during such term only in accordance with the terms of this
Agreement.

8. Not Employment Contract. Nothing in this Agreement shall confer upon Optionee any right to
continue in the employ of the Company or shall interfere with or restrict in any way the rights of
the Company, which are hereby expressly reserved, to terminate Optionee’s Continuous Service at any
time for any reason whatsoever, with or without cause, subject to the provisions of applicable law.

9. Tax Consequences Generally. Optionee acknowledges that Optionee may suffer adverse tax
consequences as a result of Optionee’s exercise of the Option. Optionee acknowledges that the
Company advises that Optionee consult with Optionee’s tax advisers in connection with any exercise
of the Option or disposition of the Shares receivable upon exercise of the Option. Optionee agrees
that Optionee is not relying on the Company for any tax advice with respect to the acceptance or
exercise of the Option, the disposition of any Shares Optionee may acquire upon exercise of the
Option or otherwise. Any adverse consequences incurred by an Optionee with respect to the use of
shares of Common Stock to pay any part of the aggregate Exercise Price or of any tax in connection
with the exercise of an Option, including, without limitation, any adverse tax consequences arising
as a result of a disqualifying disposition within the meaning of Section 422 of the Code shall be
the sole responsibility of Optionee.

10. Adjustments in Acquisitions.

     In accordance with the provisions of Section 8.2(a) of the Plan, the Option will Accelerate in
full in the event of an Acquisition constituting a Change of Control if Optionee remains employed
by the Company or one of its Affiliates as of the closing date of such Acquisition, and the Option
is not assumed or replaced by the successor or acquiring entity or the entity in control of such
successor or acquiring entity in accordance with Section 8.2 (referred to for purposes of
this section as the “Acquirer”). Otherwise, the Option will not

4

 

Accelerate in the event of an
Acquisition. In this regard, if Optionee is offered employment or some other continuing role by or
on behalf of the Acquirer, including but not limited to, continuing employment with the Company,
and in connection therewith, the Acquirer offers to assume or replace the Option, the Option will
not Accelerate if Optionee does not accept the offer.

11. Consent of Spouse/Domestic Partner. Optionee agrees that Optionee’s spouse’s or domestic
partner’s interest in the Option is subject to this Agreement and such spouse or domestic partner
is irrevocably bound by the terms and conditions of this Agreement. Optionee agrees that all
community property interests of Optionee and Optionee’s spouse or domestic partner in the Option,
if any, shall similarly be bound by this Agreement. Optionee agrees that this Agreement is binding
upon Optionee’s and Optionee’s spouse’s or domestic partner’s executors, administrators, heirs and
assigns. Optionee represents and warrants to the Company that Optionee has the authority to bind
Optionee’s spouse/domestic partner with respect to the Option. Optionee agrees to execute and
deliver such documents as may be necessary to carry out the intent of this Section 11 and the
consent of Optionee’s spouse/domestic partner.

     IN WITNESS WHEREOF, Optionee and the Company have entered into this Agreement as of the Grant
Date.

	 	 	 	 	 	 	 
	 	 	ADVENTRX Pharmaceuticals, Inc.	 	 
	 
	 	 	 	 	 	 
	 

[Optionee Name]

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

5

 

Exhibit A

Notice of Exercise of Stock Option

     I                                                              (please print legibly) hereby elect to
exercise the
stock options(s) identified below (the “Option(s)”) granted to me by ADVENTRX
Pharmaceuticals, Inc. (the “Company”) under its 2005 Equity Incentive Plan (the
“Plan”) with respect to the number of shares of Common Stock of the Company set forth below
(the “Shares”). I represent that each Share is fully vested and exercisable and subject to
the Option(s). I acknowledge and agree that my exercise of the Option(s) is subject to the terms
and conditions of the Plan and the Stock Option Agreement(s) governing the Option(s).

     1.                      Shares at $                      per share (Grant date):                     

     2.                      Shares at $                      per share (Grant date):                     

     3.                      Shares at $                      per share (Grant date):                     

     4.                      Shares at $                      per share (Grant date):                     

I choose to pay for the exercise of the above option(s) as follows (please circle applicable
item numbers):

1. Cash: $                                        

2. Check: $                                         (please make checks payable to ADVENTRX Pharmaceuticals,
Inc.)

3. Surrender of                                   Shares:

Please deliver the stock certificate(s) representing the Shares to (please print legibly):

                                                               
                      

                                                                                     

                                                               
         
             

                                                           
                          

	 	 	 	 	 	 	 
	 

	 	Name:
	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	(please print legibly)	 	 
	 
	 	 	 	 	 	 
	 

	 	Signature:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Date:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Phone No:exv10w15

 

Exhibit 10.15

LICENSE AGREEMENT

     This Agreement is entered into as of December 10, 2005 (the “Effective Date”) by and between
(i) SD Pharmaceuticals, Inc., a Delaware corporation (“SDP”), and (ii) Latitude Pharmaceuticals,
Inc., a Delaware corporation (“LPI”), and (iii) Andrew X. Chen (“Dr. Chen”), with respect to the
following facts:

A. Dr. Chen is the sole owner of LPI and is a co-founder and a principal owner in SDP.

B. In connection with the formation of SDP, Dr. Chen assigned to SDP certain inventions and related
patent rights, and LPI granted to SDP (pursuant to that certain Inventions First Negotiation and
Refusal Agreement, dated as of June 16, 2004, the “Inventions Agreement”) a first negotiation right
for SDP to acquire additional future inventions and related patent rights conceived and developed
by LPI.

C. From June 2004 through December 2005, various additional inventions and related patent rights
have been conceived and developed by Dr. Chen, as an employee of LPI, which inventions and related
patent rights are useful for the business plan of SDP; and SDP has funded some of the development
costs and patent application costs for said additional inventions (collectively called the
“Additional Inventions”).

     WHEREFORE, the parties hereto and each agree as follows:

1. Assignment. In consideration of the license grant-back set forth in Section 2 of this
Agreement, LPI and Dr. Chen hereby assign to SDP all rights and interests of Dr. Chen and LPI in
the Additional Inventions and the related patent rights for all areas worldwide except for China,
Taiwan, Hong Kong and Macao (collectively called the “Retained Asian Territories”). Additionally,
Dr. Chen and LPI agree to execute and deliver such additional assignment documents as may be
necessary or appropriate to further evidence such assignment. Attached hereto as Exhibit A is a
combined listing of the Additional Inventions and the previously assigned inventions and related
patent rights (collectively called the ‘Subject Patent Rights”). LPI and Dr. Chen hereby ratify
and confirm their assignment to SDP of all of their rights and interests in the Subject Patent
Rights except for rights and interests in the Retained Asian Territories.

2. License Grant-Back. In consideration for the forgoing assignment of the Additional
Inventions, and subject to the terms of this Agreement, SDP hereby grants to LPI the worldwide,
exclusive, royalty-free, paid-up, and irrevocable license right to use the Subject Patent Rights
for LPI to use to develop, make, have made, use, sell and import products and to practice methods
and processes, only within the Permitted Fields (as defined below).

     (a) “Permitted Fields” means all fields of use other than the “Excluded Fields” as defined in
Exhibit B attached hereto.

     (b) For avoidance of doubt, SDP retains the sole and exclusive right to utilize and practice
the Subject Patent Rights in the Excluded Fields for all areas worldwide except for the

 

 

Retained Asian Territories; and LPI has no rights to utilize or practice the Subject Patent
Rights in the Excluded Fields, other than in the areas of the Retained Asian Territories.

     (c) LPI shall be entitled to grant sublicenses (and sub-tier-sublicenses), and to assign its
license rights under this Agreement; and upon any such sublicense or assignment, LPI shall give
prompt written notice thereof to SDP.

3. Patent Prosecution and Maintenance. SDP shall have the responsibility and authority to
manage the patent prosecution for the Subject Patent Rights, worldwide except for the Retained
Asian Territories, and to monitor and maintain the Subject Patent Rights, all at the expense of
SDP. SDP shall instruct the patent attorney handling these patent matters to keep LPI fully
informed as to all material matters concerning the patent prosecution and patent maintenance for
the Subject Patent Rights, including furnishing copies of correspondence with the governmental
patent offices, and furnishing copies of relevant documents related to the Subject Patent Rights.

4. Patent Infringement. If there is any third party infringing the Subject Patent Rights,
LPI and SDI shall confer and endeavor to reach a consensus as to how best to deal with the
infringer. If the infringement primarily affects the Excluded Fields in the SDP territories, then
SDP shall have the final and ultimate authority to decide how to proceed against the infringer; and
alternatively, if the infringement primarily affects the Permitted Fields or the Retained Asian
Territories, then LPI shall have the final and ultimate authority to decide how to proceed against
the infringer.

5. Inventions Agreement. As additional consideration for the assignment set forth in
Section 1 above, SDP shall also amend the Inventions Agreement (described in Recital B), so as to
allow LPI to have an early termination of the Inventions Agreement in the event that SDP is later
sold or there is a change in control of SDP.

6. Development Costs. As additional consideration for the assignment set forth in Section
1 above, if SDP is later sold, funded, or there is a change in control of SDP (the “Triggering
Event”), then SDP shall reimburse LPI for its actual costs incurred after June 2004 through the
date of the Triggering Event to further develop the Subject Patent Rights (the “Development
Costs”). Said Development Costs shall be for the actual materials, labor, and overhead for such
development work, but shall not include any time and efforts contributed by Dr. Chen.

7. Confidentiality. To the extent that either party discloses its confidential information
to the other party, such other party shall maintain the confidentiality of that confidential
information and shall not use that confidential information without the prior written consent of
the disclosing party. This obligation of non-disclosure and non-use shall not extend to any
information which: (a) can be demonstrated by the recipient to have been within its legitimate
possession prior to the time of disclosure by the disclosing party; or (b) was in the public domain
prior to disclosure by the disclosing party; or (c) comes into the public domain through no fault
of the recipient party; or (d) is disclosed to the recipient by third party having legitimate
possession thereof and the unrestricted right to make such disclosure; or (e) is required by law or
legal proceedings to be disclosed, but then only to the limited extent the such disclosure is
legally required.

 

 

8. Disclaimers. Neither Dr. Chen, LPI nor SDP makes any representation or warranty of any
kind with respect to (i) the claims that will ultimately be included in the Subject Patent Rights
once patents are issued, or (ii) the validity or scope of any of the Subject Patent Rights, or
(iii) whether or not any viable products or services can be developed under the Subject Patent
Rights, or (iv) the utility or commercial applicability of the Subject Patent Rights, or (v) the
nature and scope of any other related third party patent rights.

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the date set forth above

	 	 	 	 	 
	/s/ Andrew X. Chen	 	 
	 	 	 
	Andrew X. Chen	 	 
	 
	 	 	 	 
	Latitude Pharmaceuticals, Inc.	 	 
	 
	 	 	 	 
	By:

	 	/s/ Andrew X. Chen	 	 
	 

	 	 	 	 
	 

	 	Andrew X. Chen, President	 	 
	 
	 	 	 	 
	SD Pharmaceuticals, Inc.	 	 
	 
	 	 	 	 
	By:

	 	/s/ Paul J. Marangos	 	 
	 

	 	 	 	 
	 

	 	Paul J. Marangos, President	 	 

 

 

Exhibit A

Subject Patent Rights

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Pat./Appl.	 	 	 	 	 	 	 	 
	Reference	 	 	 	     No.	 	 	 	Priority	 	 	 	Comments/Due
	Number	 	Title	 	Appl. Date	 	Inventors	 	Applications	 	Status	 	Dates
	401
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	401P1

	 	Pharmaceutical Compositions for

Delivering Macrolide Drugs
	 	60/493,209

08/06/03
	 	Chen
	 	N/A
	 	Expired	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	401

	 	Pharmaceutical Compositions for

Delivering Macrolides
	 	10/895,018

07/20/04
	 	Chen
	 	60/493,209 (401P1)
	 	Pending
	 	•   Published as

US-2005-0049209-A1

on 03-Mar-05

	 
	 	 	 	 	 	 	 	 	 	 	 	 
	401CA

	 	Pharmaceutical Compositions for

Delivering Macrolides
	 	 	 	Chen
	 	 	 	Unfiled
	 	•   06-Jun-2007

-National Stage

Filing due

	 
	 	 	 	 	 	 	 	 	 	 	 	 
	401EP

	 	Pharmaceutical Compositions for

Delivering Macrolides
	 	08/05/04
	 	Chen
	 	60/493,209 (401P1)

& 10/895,018 (401)
	 	Pending
	 	•   05-Aug-2006

- Annuity due

	 
	 	 	 	 	 	 	 	 	 	 	 	 
	401JP

	 	Pharmaceutical Compositions for

Delivering Macrolides
	 	08/05/04
	 	Chen
	 	60/493,209 (401P1)

& 10/895,018 (401)
	 	Pending
	 	•   05-Aug-2007

- Deferred Exam

	 
	 	 	 	 	 	 	 	 	 	 	 	 
	401PC

	 	Macrolides Containing

Oil-in-Water

Emulsions
	 	US04/25284

08/05/04
	 	Chen
	 	60/493,209 (401P1)

& 10/895,018 (401)
	 	Pending
	 	•   Published

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Pat./Appl.	 	 	 	 	 	 	 	 
	Reference	 	 	 	     No.	 	 	 	Priority	 	 	 	Comments/Due
	Number	 	Title	 	Appl. Date	 	Inventors	 	Applications	 	Status	 	Dates
	403
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	403P1

	 	Anti-Viral Pharmaceutical

Compositions
	 	60/528,843

12/10/03
	 	Chen
	 	N/A
	 	Expired	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	403

	 	Anti-Viral Pharmaceutical

Compositions
	 	11/003,302

12/03/04
	 	Chen
	 	60/528,843 (403P1)
	 	Pending
	 	•   Published

	 
	 	 	 	 	 	 	 	 	 	 	 	 
	403PC

	 	Anti-Viral Pharmaceutical

Compositions
	 	US04/41117

12/08/04
	 	Chen
	 	60/528,843 (403P1)

& 11/003,302 (403)
	 	Pending
	 	•   10-Jun-2006
- Chapter I/II
National Stage
Filing due

	 
	 	 	 	 	 	 	 	 	 	 	 	 
	404
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	404P1

	 	Elemene Compositions Containing

Liquid Oil
	 	60/538,851

01/23/04
	 	Chen
	 	N/A
	 	Expired	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	404

	 	Elemene Compositions Containing

Liquid Oil
	 	11/040,079

01/21/05
	 	Chen
	 	60/538,851 (404P1)
	 	Pending
	 	•   Published

	 
	 	 	 	 	 	 	 	 	 	 	 	 
	406
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	406

	 	Injectable Pharmaceutical

Compositions for Irritating Drugs
	 	10/889,226

 07/12/04
	 	Chen
	 	N/A
	 	Pending
	 	•   Published

	 
	 	 	 	 	 	 	 	 	 	 	 	 
	406PC

	 	Compositions for Delivering
Highly

Water Soluble Drugs
	 	US2005/24594

7/12/05
	 	Chen
	 	10/889,226 (406)
	 	Pending
	 	•   Published

•   18-Mar-2006

- Amend Claims

•   12-May-2006

- Demand Due

(Priority Date)

	 

	 	 	 	 	 	 	 	 	 	 	 	•   12-Jan-2007
- Chapter I/II
National Stage
Filing due

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Pat./Appl.	 	 	 	 	 	 	 	 
	Reference	 	 	 	     No.	 	 	 	Priority	 	 	 	Comments/Due
	Number	 	Title	 	Appl. Date	 	Inventors	 	Applications	 	Status	 	Dates
	407
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	407P1

	 	Stable Injectable Composition of
Alpha Tocopheryl Succinate,
Analogues and Salts Thereof
	 	60/592,097

07/28/04
	 	Chen
	 	N/A
	 	Expired	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	407

	 	Stable Injectable Composition of
Alpha Tocopheryl Succinate,
Analogues and Salts Thereof
	 	11/192,439

07/28/05
	 	Chen
	 	60/592,097 (407P1)
	 	Pending
	 	•   Published

	 
	 	 	 	 	 	 	 	 	 	 	 	 
	407PC

	 	Stable Injectable Composition of
Alpha Tocopheryl Succinate,
Analogues and Salts Thereof
	 	US2005/026783

7/28/05
	 	Chen
	 	60/592,097 (407P1)
	 	Pending
	 	•   Published

•   28-Jan-2007
- Chapter I/II
National Stage
Filing due

	 
	 	 	 	 	 	 	 	 	 	 	 	 
	408
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	408

	 	Low Oil Emulsion Compositions
for
Delivering Taxoids and Other
Insoluble Drugs
	 	10/952,243

9/28/04
	 	Chen
	 	N/A
	 	Pending
	 	•   30-Mar-2006

- Projected

Publication

	 
	 	 	 	 	 	 	 	 	 	 	 	 
	408 PC

	 	Low Oil Emulsion Compositions
for
Delivering Taxoids and Other
Insoluble Drugs
	 	US2005/34971

9/28/05
	 	Chen
	 	10/952,243 (408)
	 	Pending
	 	•   28-Mar-2007
- Chapter I/II
National Stage
Filing due

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Pat./Appl.	 	 	 	 	 	 	 	 
	Reference	 	 	 	     No.	 	 	 	Priority	 	 	 	Comments/Due
	Number	 	Title	 	Appl. Date	 	Inventors	 	Applications	 	Status	 	Dates
	409
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	409P1

	 	Vitamin E Succinate Stabilized
Pharmaceutical Compositions,
Methods for the Preparation
Thereof and Methods for the Use
Thereof
	 	To be filed	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	409P2

	 	Vitamin E Succinate Stabilized
Pharmaceutical Compositions,
Methods for the Preparation
Thereof and Methods for the Use
Thereof
	 	To be filed	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	410

	 	Vancomycin formation Patent
	 	To be filed	 	 	 	 	 	 	 	 

 

 

Exhibit B

Excluded Fields

1. Clarithromycin intravenous emulsion formulation for infectious disease and any other disease
indication.

2. Chitosan in combination with Zinc for topical anti-viral use.

3. B-Elemene intravenous emulsion formulation for Cancer treatment and any other disease
indication.

4. Vinca Alkyloid intravenous emulsion formulation for cancer treatment and any other disease
indication.

5. Alpha tocopheryl Succinate, Paclitaxel and Docetaxel intravenous emulsion formulations for
Cancer and any other disease indication.

6. Paclitaxel and Docetaxel intravenous emulsion formulation for cancer treatment and any other
disease indication.

7. Vancomycin intravenous emulsion formulation for infectious disease and any other disease
indication.

 

 

November 20, 2007

Latitude Pharmaceuticals, Inc.

6364 Ferris Square

San Diego, CA 92121

Andrew X. Chen, as an individual

6364 Ferris Square

San Diego, CA 92121

Re: Clarification under License Agreement

To Whom It May Concern:

     Reference is made to that certain License Agreement, dated December 10, 2005, among SD
Pharmaceuticals, Inc., a Delaware corporation (“SDP”), Latitude Pharmaceuticals, Inc., a Delaware
corporation (“Latitude”), and Andrew X. Chen (the “License Agreement”).

     I am writing to confirm our mutual understanding of the License Agreement; in particular, the
scope of the “Excluded Fields” (and, thereby, the scope of the “Permitted Fields”) with respect to
(i) patent applications US 11/003,302 (published as US 2005/0232895) and International Application
PCT/US2004/041117 (published as WO 2005/074947), (ii) all additions, divisions, continuations,
continuations-in-part, registrations, renewals, registrations and substitutions thereof, (iii) all
foreign patent applications and counterparts corresponding to any of the preceding and (iv) all
U.S. and foreign patents issuing on any of the preceding applications, including extensions,
reissues, and reexaminations (the “Patents”).

     We agree that the scope of the Excluded Field with respect to the Patents includes the right
to make, have made, use, offer for sale, sell and import, and to otherwise practice and exploit,
the inventions disclosed or claimed in the Patents, including in combination with other substances
and/or devices. Other than as clarified or otherwise set forth in this letter, the terms and
conditions of the License Agreement remain in full force and effect.

[Signature page follows]

 

 

November 20, 2007

Page 2

     If you agree with the foregoing, please countersign this letter. Do not hesitate to contact
me if you have any questions.

	 	 	 	 	 	 	 
	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 
	 	 	ADVENTRX Pharmaceuticals, Inc.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Evan M. Levine	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Evan M. Levine, Chief Executive Officer	 	 

	 	 	 	 	 
	ACKNOWLEDGED AND AGREED:	 	 
	 
	 	 	 	 
	Latitude Pharmaceuticals, Inc.	 	 
	 
	 	 	 	 
	By:

	 	/s/ Andrew X. Chen	 	 
	 

	 	 	 	 
	 

	 	Andrew X. Chen, President	 	 
	 
	 	 	 	 
	/s/ Andrew X. Chen	 	 
	 	 	 
	Andrew

	 	X. Chen, as an individual

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