Document:

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                                                                    EXHIBIT 10.8

                            PATENT LICENSE AGREEMENT

         This Patent License Agreement (the "Agreement") is made and entered as
of the 1st day of November, 1994 by and between Antigenics, Inc., a Delaware
corporation having its principal place of business c/o Armen Partners, L.P., 135
East 57th Street, 30th Floor, New York, N.Y. 10022 ("Antigenics"), and Mount
Sinai School of Medicine, located at One Gustave L. Levy Place,. New York, NY
10029 ("MSSM").

                                    RECITALS:

         WHEREAS, Dr. Pramod K. Srivastava ("Dr. Srivastava") was formerly on
the faculty of and performed research and development at. MSSM in the area of
the use of heat shock proteins for the development of therapeutic and
prophylactic vaccines for cancer and infectious diseases;

         WHEREAS, Antigenics desires to obtain and MSSM desires to grant
exclusive licenses to the patent rights which resulted from Dr. Srivastava's
research and development efforts in heat shock proteins at MSSM;

         NOW, THEREFORE, in consideration of the mutual covenants expressed
herein and other good and valuable consideration, Antigenics and MSSM hereby
agree as follows;

         1. LICENSE OF PATENT RIGHTS.

                  (a) DEFINITIONS OF PATENT RIGHTS. "MSSM Patent Rights" shall
be defined as U.S. patent application serial nos. 08/210,421, 8/315,892 and
08/180,685 and all U.S. patents which issue therefrom, including without
limitation, any continuations, divisionals, continuations-in-part, reissues,
reexaminations and related foreign applications and patents issuing therefrom or
patents which are owned by MSSM based on Pramod Srivastava's work conducted at
MSSM prior to January 1, 1994. For purposes of this Agreement, the term
"Licensed Products" shall be defined as products covered by the MSSM Patent
Rights.

                  (b) GRANT OF LICENSE. In consideration if the royalty set out
in Section 2(a) and other consideration set forth in Section 2(b), MSSM hereby
grants to Antigenics a worldwide, exclusive license to all MSSM Patent Rights.
In consideration of the mutual covenants herein contained, MSSM hereby agrees to
execute and deliver all documents and instruments and to take any other action
on a best efforts basis which Antigenics shall deem necessary to perfect patent
protection in the United States and in foreign countries with respect to, or to
perfect said exclusive license to the MSSM Patent Rights in Antigenics.

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                  (c) RIGHT TO SUBLICENSE. Antigenics may not grant sublicenses
to the MSSM Patent Rights without the prior written consent of MSSM.

                  (d) PROTECTION OF MT. SINAI PATENT RIGHTS. MSSM hereby agrees
that upon request of Antigenics, authorized officials of MSSM will execute and
deliver any and all documents or instruments and take any other action which
Antigenics shall deem necessary to transfer and vest an exclusive license in
Antigenics, to perfect copyright and patent protection with respect to, or to
protect Antigenics' interest in, all of its rights and interests in and to such
MSSM Patent Rights. Antigenics shall have the right to prepare, file and
prosecute, by counsel of its choice, any U.S. and foreign patent applications
covering inventions arising out of the MSSM Patent Rights. Antigenics shall
prepare, file and prosecute any such patent applications at its own expense. In
the event that Antigenics elects not to apply for patent protection in a foreign
country, or fails to prosecute U.S. patent applications, MSSM shall have the
right to prepare and file its own patent application at MSSM's expense. Without
limiting the generality of the foregoing, MSSM specifically agrees to execute
all documents, and take any other actions necessary to perfect filing of such
patent applications in the U.S. Patent and Trademark Office and in such foreign
Patent Offices as Antigenics shall choose to file. MSSM agrees to notify
Antigenics of any Patent Office actions taken after execution of this Agreement
which affect the Patent Rights to the extent that MSSM is aware of such Patent
Office actions. MSSM will use its best efforts to assist Antigenics with
responses to such Patent Office actions. The obligations of this Section 1(d)
shall be binding upon the successors and assigns of MSSM. Antigenics agrees to
pay all copyright and patent fees and reasonable expenses incurred by MSSM for
any assistance rendered to Antigenics pursuant to the foregoing.

                  (e) NIH AND OTHER INSTITUTIONAL FUNDING. MSSM and Antigenics
each acknowledges that certain of the research and development efforts that are
embodied in MSSM Patent Rights were funded in whole or in part by institutions
other than MSSM, including the National Institutes of Health and the Cancer
Research Institute (the "Institutions").

         MSSM represents and warrants that it has taken and will take any
actions required by such Institutions or applicable law to be taken to obtain
ownership right, title and interest in any MSSM Patent Rights to be licensed
hereunder. Both Antigenics and MSSM agree to comply with all laws, regulations
and requirements of NIH or any other government agency with respect to research
sponsored by such agency and MSSM Patent Rights resulting therefrom. Without
limiting the foregoing, if required by law, Antigenics agrees to manufacture in
the United States Licensed Products which are to be sold in the United States.

         2. ROYALTIES; EQUITY INTEREST.

                  (a) ROYALTIES. For the rights and privileges granted under
this Agreement, Antigenics shall pay to MSSM a royalty of [                   ]*
on Net Sales of Licensed Products from the date hereof until the date the last
patent embodying or using the

________________________

* This portion of the Exhibit has been omitted pursuant to a Request for
Confidential Treatment under Rule 406 of the Securities Act of 1933, as amended.
The complete Exhibit, including the portions for which confidential treatment
has been requested, has been filed separately with the Securities Exchange
Commission.

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Patent Rights has expired. For purposes of this Agreement "Net Sales" shall mean
sales that are net of any take-backs and/or trade discounts or allowances
whether Licensed Products are sold by Antigenics or another party with which
Antigenics has a marketing agreement. Royalties are payable for sales of
Licensed Products only if a patent has been issued or is pending which covers
the country or countries in which such Licensed Products are sold. If and only
for so long as gross margins on Net Sales of Licensed Products [             ]*,
Antigenics shall pay MSSM a royalty of [          ]* of Net Sales of such
Licensed Products.

         On or before the forty-fifth (45th) day following each fiscal quarter,
Antigenics shall submit to MSSM full and accurate statements showing the
quantity, description and Net Sales of Licensed Products distributed and/or sold
during the preceding fiscal quarter, including any additional information kept
in the ordinary course of business by Antigenics, which is appropriate to enable
an independent determination of the amount due hereunder. All payments then due
MSSM shall be made simultaneously with the submission of the statements. Such
quarterly statements shall be submitted only when they reflect any sales.
Antigenics shall inform MSSM within thirty (30) days of the first sale of
Licensed Products. In addition, Antigenics will provide MSSM with audited
financial statements within ninety (90) days of the end of Antigenics' fiscal
year provided, however, that Antigenics shall not be required to deliver audited
financial statements until such time as there are sales of Licensed Products.

                  (b) EQUITY INTEREST. For the rights and privileges granted
under this Agreement, in-addition to the royalty described in Section 2(a),
Antigenics shall, pursuant to a Subscription Agreement which shall include
appropriate investment representations, deliver to MSSM a certificate
representing ten (10) shares of Antigenics common stock, representing 1% of
Antigenics issued and outstanding stock as of the date hereof. Antigenics
represents that as of the date of this Agreement, Antigenics has only one class
of stock outstanding.

         3. DUE DILIGENCE.

         Antigenics represents and warrants that it will use due diligence to
make Licensed Products commercially available. Antigenics will use its best
efforts to reach the following milestones:

                  (i) Phase I clinical trials to commence by December 31, 1997
and Phase II clinical trials will be initiated by December 31, 1999 provided
that the Phase I Clinical Trials indicate a reasonable scientific basis for
possible efficacy and indicate acceptable toxicity.

                 (ii) Additional funding of at least $1.5 million to be
completed by June 30, 1996.

                (iii) Pre-clinical studies evaluating the optimal dose of gp96
and hsp70 for eliciting immunity to at least two mouse sarcomas (using enough
numbers of mice to be statistically significant) to  be completed by March 31,
1997.

                 (iv) The efficacy of gp96 and hsp70, complexed to at least one
known antigenic peptide, in eliciting peptide-specific cellular and antibody
response, to  be evaluated in a mammalian system by January 31, 1998.

                  (v) At least five (5) different adjuvants to be tested under
the conditions identified in Section 3(iv) by September 30, 1996.

                 (vi) A clinical director to be designated before the
initiation of Phase III Clinical Trials.

                (vii) A chief executive officer of Antigenics to be hired after
the earlier of (a) the investment of a total of $5 million in equity capital in
Antigenics or (b) the filing of the first New Drug Application.

               (viii) A chief financial officer to be hired when Antigenics'
total annual budget exceeds $3 million.

_________________________

* This portion of the Exhibit has been omitted pursuant to a Request for
Confidential Treatment under Rule 406 of the Securities Act of 1933, as amended.
The complete Exhibit, including the portions for which confidential treatment
has been requested, has been filed separately with the Securities Exchange
Commission.

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         Antigenics will notify MSSM as to the status of the milestones outlined
in this Section 30 days prior to the date of each milestone. If at any time MSSM
is of the opinion that Antigenics is not using due diligence to make Licensed
Products commercially available, as outlined above, MSSM shall notify Antigenics
to that effect, and Antigenics shall have six (6) months after such notice
within which to cure or to make arrangements satisfactory to MSSM. If at the end
of the six (6) month period MSSM and Antigenics cannot agree that Antigenics is
using due diligence, then MSSM may, at its option, convert the exclusive license
described in section 1(b) to a non-exclusive license upon thirty (30) days'
notice to Antigenics. At such time as the exclusive license becomes
non-exclusive, MSSM's obligations pursuant to Section 1(d) shall terminate.
Notwithstanding the foregoing, Antigenics' obligation to pay royalties pursuant
to Section 2(a) shall not terminate upon any conversion of the exclusive license
to a non-exclusive license.

         4. INDEMNIFICATION. Antigenics shall indemnify, defend and hold
harmless, MSSM, its directors, officers, employees and agents (the
"Indemnitees") from and against any liability, damage, loss or expense
(including reasonable attorney's fees) incurred or imposed upon Indemnitees
arising in connection with any claim, suit, action, loss, settlement, demand or
judgment that arises, directly or indirectly, out of the design, manufacture,
sale, use, distribution or promotion by Antigenics or any of its licensees,
affiliates or agents of any product, process or service developed pursuant to
this Agreement or arising out of the acts or omissions of Antigenics committed
in the course of the performance of this Agreement. Antigenics'

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obligation to protect, defend, indemnify and hold harmless hereunder shall
survive the expiration and termination of the Agreement.

         Antigenics agrees to obtain product liability insurance covering claims
arising or resulting from the design, manufacture, sale, use, distribution or
promotion f the Licensed Products prior to the time human clinical trials o the
Licensed Products are commenced. The amount of such product liability insurance
will be acceptable to MSSM and consistent with industry practice for companies
which are similar to Antigenics and institutions which are similar to MSSM. Such
insurance shall be underwritten by insurers acceptable to MSSM, and shall list
MSSM as an additional named insured.

         5. NON-DISCLOSURE.

         Unless required by law, MSSM agrees that it will not at any time,
either during or after the term of this Agreement, without the prior written
consent of Antigenics, divulge or disclose to anyone outside, or appropriate for
its own use or lie use of any third party, any financial or patent-related
information received from Antigenics after execution of this Agreement which is
marked "Confidential" (such information shall be referred to as "Confidential
Information"), and will not during the term hereof, or at any time thereafter,
disclose or use or attempt to use any such Confidential Information for its own
benefit, or the benefit of any third party, or in any manner which may injure or
cause loss or may be calculated to injure or cause loss to Antigenics. MSSM's
obligations contained in this subsection 5 shall lapse on the termination of
this Agreement.

         6. GENERAL.

                  (a) ENTIRE AGREEMENT. This Agreement constitutes the entire
Agreement between the parties relative to the subject matter hereof, and
supersedes all proposals or agreements, written or oral, and all other
communications between the parties relating to the subject matter of this
Agreement.

                  (c) SEVERABILITY. The parties agree that each provision of
this Agreement shall be treated as a separate and independent clause, and the
unenforceability of any one clause shall in no way impair the enforceability of
any of the other clauses herein. Moreover, if any one or more of the provisions
of this Agreement shall for any reason be held to be exclusively broad as to
scope, activity or subject so as to be enforceable at law, such provisions shall
be construed by the appropriate judicial body by limiting and reducing it or
them, so as to be enforceable to the maximum extent compatible with the
applicable law as it shall then appear.

                  (d) ASSIGNMENT. Antigenics may assign its rights, together
with its obligations hereunder, to any affiliate or successor in connection with
any consolidation, merger, sale, transfer or other disposition of all or
substantially all of Antigenics' business and assets. In the event of an
consolidation or merger of Antigenics' with or into any other corporation, or
the sale or conveyance of -all or substantially all of the assets of Antigenics
to another corporation, the surviving or acquiring corporation shall be entitled
to the rights and benefits provided under this Agreement, and become obligated
to perform all of the terms and conditions hereof. The foregoing
notwithstanding, Antigenics may also transfer its rights hereunder with the
consent of MSSM which consent shall not be withheld unreasonably.

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                  (e) GOVERNING LAW. This Agreement shall be construed and
enforced in accordance with, and the rights of the parties shall be governed by,
the internal laws of the State of New York.

                  (f) NOTICE. All notices provided for in this Agreement shall
be given in writing and shall be effective when either served by personal
delivery, express overnight courier service, or by registered or certified mail,
return receipt requested, addressed to the parties at their respective address s
herein set forth, or to such other address or addresses as either party may
later specify by written notice to the other.

                  (g) SURVIVAL. The provisions set forth in Sections 4, 5, and 6
shall survive the termination or expiration of this Agreement for the periods
set forth herein as a continuing agreement of the parties hereto.

                  (h) REMEDIES. The parties agree that a breach of the
provisions of Section 5 of this Agreement by either party will cause irreparable
damage to the other party and that in the event of such breach the party who has
suffered the breach shall have, in addition to any and all remedies of law, the
right to an injunction, specific performance or other equitable relief to
prevent the violation of the other party's obligations hereunder. Nothing herein
contained shall be construed as prohibiting either party from pursuing any other
remedies available to either for breach by the other under this Agreement or
applicable law.

                  (i) TERM. The term of this Agreement shall be until the last
patent embodying or using the MSSM Patent Rights has expired. MSSM may terminate
this agreement if after at least sixty (60) days' written notice by MSSM to
Antigenics, Antigenics shall continue to fail to pay any royalties then due
under Section 2(a). The termination of this Agreement will not relieve
Antigenics of its obligations to make any payments required hereunder.

                  (j) USE OF NAME. Except where required by law, Antigenics may
not use the name "Mount Sinai School of Medicine", the MSSM logo or the MSSM
insignia in any advertisement, commercial or product literature without the
express written consent of MSSM. If Antigenics is required by law to use the
name "Mount Sinai School of Medicine", Antigenics will only use such name in
connection with factually correct information. The "Mount Sinai School of
Medicine" name may be used in connection with fundraising activities of
Antigenics with MSSM's consent, which consent may not be unreasonably withheld.

         This Agreement may be executed in duplicate counterparts, which, when
taken together, shall constitute one instrument and each of which shall be
deemed to be an original instrument.

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         IN WITNESS WHEREOF, parties have executed this Agreement as of the day
and year first above written.

                                        ANTIGENICS, INC.

                                        By:  /s/ Garo H. Armen
                                             -----------------------------------
                                             President

                                        MOUNT SINAI SCHOOL OF MEDICINE

                                        By:  /s/ Nathan Kase
                                             -----------------------------------
                                             Title  Dean MSSM
                                                    ----------------------------

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                                  AMENDMENT TO
                            PATENT LICENSE AGREEMENT
                                 BY AND BETWEEN
                                ANTIGENICS, INC.
                                       AND
                         MOUNT SINAI SCHOOL OF MEDICINE

         THIS AMENDMENT TO THE PATENT LICENSE AGREEMENT ("AMENDMENT"), effective
as of June 5, 1995 ("EFFECTIVE DATE"), is made and entered into by and between
ANTIGENICS, INC., a Delaware corporation having a principal place of business
c/o Armen Partners, 135 East 57th Street, 30th Floor, New York, New York 10022,
("Antigenics") and MOUNT SINAI SCHOOL OF MEDICINE, having a principal of
business at One Gustave L. Levy Place, New York, New York 10029 ("MSSM").

         WHEREAS Antigenics and MSSM entered into a Patent License Agreement
("License Agreement") effective as of November 1, 1994 pursuant to which
Antigenics obtained a worldwide, exclusive license under the MSSM Patent Rights
(as defined in the License Agreement); and

         WHEREAS Antigenics and MSSM desire to amend the License Agreement to
provide for modification of the obligations of the parties.

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

1.       RIGHT TO SUBLICENSE

         Section 1(c) of the License Agreement is hereby amended to read in its
entirety as follows:

                  (c) RIGHT TO SUBLICENSE. Antigenics may grant sublicenses to
         the MSSM Patent Rights; provided that, at least ten (10) business days
         prior to the effective date of any such sublicense, Antigenics, in
         accordance with Section 6(f), shall provide written notice to MSSM of
         Antigenics' intention to grant such sublicense, such notice to be
         provided for the purpose of obtaining MSSM's consent. MSSM agrees that
         such consent shall not be unreasonably withheld. In addition, MSSM may
         provide comments to Antigenics relating to the terms and conditions of
         such sublicense. In the event that MSSM provides no comments to
         Antigenics in writing within five (5) business days after receipt of
         Antigenics' written notice, MSSM will be deemed to have given consent
         to such sublicense. In the event that MSSM provides comments to
         Antigenics in writing within five (5) business days after receipt of
         Antigenics' written notice, Antigenics shall consider such comments in
         good faith and shall in incorporate such comments into the sublicense
         to the extent necessary to provide that Antigenics complies with its
         obligations to MSSM under the License Agreement.

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2.       OTHER PROVISIONS

         All provisions of the License Agreement not expressly modified by this
Amendment shall remain in full force and effect.

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         IN WITNESS WHEREOF, the parties hereto have caused authorized their
duly authorized representatives to execute this Amendment.

ANTIGENICS, INC.                        MOUNT SINAI SCHOOL OF MEDICINE

  ("Antigenics")                          ("MSSM")

By:  /s/ Garo H. Armen                  By:  /s/ Nathan Kase
     --------------------------------        ---------------------------------

Name:    Garo H. Armen                   Name:   Nathan Kase
     --------------------------------        ---------------------------------

Title:  Chairman and CEO                Title:  Dean
     --------------------------------        ---------------------------------

                                       10<PAGE>   1

                                                                    EXHIBIT 10.9

                             SPONSORED RESEARCH AND
                          TECHNOLOGY LICENSE AGREEMENT

         This Sponsored Research and Technology License Agreement (the
"Agreement") is made and entered into this 28th day of March, 1995 by and
between Antigenics, Inc., a Delaware corporation having its principal place of
business c/o Armen Partners, L.P., 30 Rockefeller Plaza, Suite 4220, New York,
N.Y. 10011 ("Antigenics"), and Fordham University, located at 441 East Fordham
Rd., Bronx, New York 10458-5153 ("Fordham").

                                R E C I T A L S:

         WHEREAS, Dr. Pramod K. Srivastava ("Dr. Srivastava") is currently on
the faculty of and performing research and development at Fordham in the area of
the use of heat shock proteins for the development of therapeutic and
prophylactic vaccines for cancer and infectious diseases (the "Field");

         WHEREAS, Antigenics desires to sponsor, support and fund Dr.
Srivastava's research and development efforts at Fordham in the Field and obtain
exclusive rights to the intellectual property which has resulted to date from
his research and development efforts in the Field at Fordham and which may
result from his continuing research and development efforts in the Field at
Fordham; and

         WHEREAS, Fordham desires to obtain funding for Dr. Srivastava's
research and development efforts in the Field and to support the
commercialization of the results of such efforts;

         NOW, THEREFORE, in consideration of the mutual covenants expressed
herein and other good and valuable consideration, Antigenics and Fordham hereby
agree as follows:

         1. Sponsored Research.

                  (A) PERIOD OF PERFORMANCE; TERM. This Agreement shall begin on
the date hereof and shall continue in effect for a period of three (3) years
(the "Initial Term"). The term of this Agreement shall be extended beyond the
Initial Term for one or more additional one (1) year periods (individually, an
"Additional Term") unless either party desires not to extend the term of this
Agreement for an additional term, in which case such party shall give the other
party at least thirty (30) days' prior written notice of his or its intention
not to extend the Agreement for an Additional Term. As used in this Agreement,
the term of the Agreement shall include the Initial Term and any Additional
Terms. Notwithstanding the foregoing, Antigenics may terminate this agreement on
thirty (30) days' prior notice if Dr. Srivastava dies, becomes incapacitated or
otherwise incapable of performing his duties at Fordham or if Dr. Srivastava
becomes affiliated with a university or institution other than Fordham. The
termination of this Agreement will not relieve Antigenics of its obligation to
make any payments due but unpaid on the date of termination.

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                  (B) STATEMENT OF WORK. Fordham agrees to use its best efforts
to facilitate the performance by Dr. Srivastava and his laboratory personnel at
Fordham of the project set forth and described on EXHIBIT A attached hereto (the
"Project").

                  (C) RESEARCH SUPPORT. Antigenics will supply the equipment to
be associated with the Project as set forth and described on EXHIBIT B hereto.
All such property supplied by Antigenics will be the property of Antigenics.
Antigenics will pay Fordham all direct and indirect costs for space, supplies,
services and personnel incurred by Fordham in the performance of the Project,
which, for the term hereof, shall not exceed a total of $100,000 per quarter
all as itemized and set forth as Exhibit B hereto without the prior written
authorization of Antigenics. The parties agree to update EXHIBIT B from time to
time and at least annually as of November 1 of each year during the term hereof.
No update of EXHIBIT B will be effective unless executed by each of the parties
hereto.

                  (D) PAYMENT. An initial payment of $100,000 has been paid to
Fordham covering the quarter commencing November 1, 1994 and ending January 31,
1995. An additional payment of $100,000 will be made upon execution of this
Agreement covering the quarter commencing February 1, 1995 and ending April 30,
1995. The remaining quarterly payments of $100,000 will be payable in advance as
of the first day of the quarter commencing May 1, 1995. Notwithstanding the
foregoing, Fordham shall reimburse to Antigenics the pro rata portion of any
quarterly payment paid if this Agreement shall terminate within a quarter for
which payment has been made in advance.

         2. LICENSE OF INTELLECTUAL PROPERTY.

                  (A) DEFINITION OF INTELLECTUAL PROPERTY. "Intellectual
Property" shall mean all inventions, discoveries, know-how, technical
information, improvements and other information which are or were conceived
(whether or not reduced to practice) and/or made or become known (i) by
employees of Fordham, including Dr. Srivastava, (ii) jointly by employees of
Fordham and employees of Antigenics, if any, or (iii) by employees of or
consultants to Antigenics, if any, at Dr. Srivastava's Fordham laboratory in the
Field or resulting or arising from or in connection with the performance of the
Project hereunder.

                  (B) GRANT OF LICENSE. In consideration of the research support
set out in Section 1(C) hereinabove and other good and valuable consideration,
Fordham hereby grants to Antigenics a worldwide, exclusive license to all
Intellectual Property resulting or arising from or in connection with the
performance of the Project hereunder, including all patents and patent
applications and specifically the patent applications described in subsection
2(C) hereof.

                  (C) PROTECTION OF INTELLECTUAL PROPERTY RIGHTS. Fordham hereby
agrees that it will promptly disclose to Antigenics any and all of such
intellectual Property in a manner that will enable Antigenics to use effectively
such Intellectual Property, and that, upon request of

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Antigenics, authorized officials of Fordham will execute and deliver any and all
documents or instruments and take any other action which Antigenics shall deem
necessary to transfer and vest an exclusive license in Antigenics, to perfect
copyright and patent protection with respect to, or to protect Antigenics'
interest in, all of its rights and interests in and to such Intellectual
Property. Antigenics shall have the right to prepare, file and prosecute, at its
own expenses, by counsel of its choice, any U.S. and foreign patent applications
covering inventions arising out of the Intellectual Property. Without limiting
the generality of the foregoing, Fordham specifically agrees to execute all
documents, to ensure the cooperation of its employees, and take any other
actions necessary to perfect filing of such patent applications in the U.S.
Patent and Trademark Office and in such foreign Patent Offices as Antigenics
shall choose to file. The obligations of this Section 2 shall continue beyond
the termination of this agreement with respect to such Intellectual Property and
shall be binding upon the successors and assigns of Fordham. Antigenics agrees
to pay all copyright and patent fees and expenses incurred by Fordham for any
assistance rendered to Antigenics pursuant to the foregoing.

                  (D) RIGHT TO SUBLICENSE. Antigenics may not grant sublicenses
to the Intellectual Property without the prior written consent of Fordham which
consent shall not be unreasonably withheld. Notwithstanding the foregoing,
Antigenics may grant sublicenses to the Intellectual Property to its affiliates
without the prior written consent of Fordham.

                  (E) NIH AND OTHER INSTITUTIONAL FUNDING. Fordham and
Antigenics each acknowledges that certain of the research and development,
efforts that are embodied in certain of the Intellectual Property to which
Antigenics will receive exclusive license rights hereunder were funded in whole
or in part by institutions other than Fordham, including the National Institutes
of Health and the Cancer Research Institute (the "Institutions"). The parties
also acknowledge that the Project may be partially funded by other Institutions.
Fordham hereby represents and warrants that it has taken and will take any
actions required by such Institutions or applicable law to be taken to obtain
ownership right, title and interest in any Intellectual Property to be licensed
hereunder. During the term hereof, both Antigenics and Fordham agree to comply
with all laws, regulations and requirements of NIH or any other government
agency with respect to research sponsored by such agency and Intellectual
Property resulting therefrom. Each party agrees to indemnify and hold harmless
the other party in the event of a breach of the provisions of this Section 2(E).

         3. ROYALTIES. For the rights and privileges granted under this
Agreement, Antigenics shall pay to Fordham a royalty of [ ]*on Net Sales of any
product covered by any patent based on the Intellectual Property licensed
hereunder from the date hereof until the date the last such patent has expired.
For purposes of this Agreement "Net Sales" shall mean sales that are net of any
take-backs and/or trade discounts or allowances whether products are sold by
Antigenics or another party with which Antigenics has a marketing agreement.
Royalties are payable for sales of products only if a patent has been issued or
is pending which covers the country or countries in which such products are
sold.

_________________________

* This portion of the Exhibit has been omitted pursuant to a Request for
Confidential Treatment under Rule 406 of the Securities Act of 1933, as amended.
The complete Exhibit, including the portions for which confidential treatment
has been requested, has been filed separately with the Securities Exchange
Commission.

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         On or before the forty-fifth (45th) day following each fiscal quarter,
Antigenics shall submit to Fordham full and accurate statements showing the
quantity, description and Net Sales of any products distributed and/or sold
during the preceding fiscal quarter and covered by the foregoing royalty payment
obligation, including any additional information kept in the ordinary course of
business by Antigenics, which is appropriate to enable an independent,
determination of the amounts due hereunder. All payments then due Fordham shall
be made simultaneously with the submission of the statements. Such quarterly
statements shall be submitted only when they reflect any sales. Antigenics shall
inform Fordham within thirty (30) days of the first such sale. In addition,
Antigenics will provide Fordham with audited financial statement within ninety
(90) days of the end of Antigenics' fiscal year provided, however, that
Antigenics shall not be required to deliver-audited financial statements until
such time as there are sales hereunder.

         4. ACKNOWLEDGMENT OF AGREEMENT BETWEEN ANTIGENICS AND DR. SRIVASTAVA.
Fordham hereby acknowledges that Dr. Srivastava will enter into an agreement or
agreements with Antigenics which will provide, among other things, for Dr.
Srivastava to receive an equity interest in Antigenics and to consult for
Antigenics.

         5. MUTUAL NON-DISCLOSURE.

                  (A) PROPRIETARY INFORMATION. For purposes of this Agreement,
the term "Proprietary Information" shall mean all knowledge and information
which each party hereto has acquired or may acquire as a result of, or related
to the performance of the terms of this Agreement concerning the other party's
business, finances, operations, strategic planning, research and development
activities, products, molecules, organisms, laboratory materials, prototypes,
software programs, firmware, designs, systems, improvements, applications,
processes, trade secrets, services, cost and pricing policies, and including,
but not limited to, information relating to formulae, diagrams, schematics,
notes, data, memoranda, methods, know-how, techniques, inventions, and
purchasing, merchandising and selling strategies. Notwithstanding the foregoing
sentence such Proprietary Information does not include (i) information which is
or becomes publicly available (excepts as may be disclosed by either party in
violation of this Agreement), or (ii) information acquired by either party from
a third-party source, other than the other party or any of its employees,
consultants or shareholders, which source legally acquired such information from
the party for whom the information is Proprietary Information.

                  (B) NONDISCLOSURE OBLIGATION. Each party agrees that it will
not at any time, either during or after the term of this Agreement, without the
prior written consent of the other party, divulge or disclose to anyone outside
of the other party, or appropriate for his own use or the use of any third
party, any such Proprietary Information, and will not during the term hereunder,
or at any time thereafter, disclose or use or attempt to use any such
Proprietary Information for his own benefit, or the benefit of any third party,
or in any manner which may injure or cause loss or may be calculated to injure
or cause loss to the other party. Each party's obligations contained in this
subsection 5(B) shall lapse on the fifth anniversary of the termination of this
Agreement. Each party shall obtain from personnel, agents or other
representatives employed or engaged by it to perform any work hereunder an
agreement which contains the provisions of this Section 5.

                                       4
<PAGE>   5

         6. ANTIGENICS COLLABORATION. Subject to the nondisclosure obligations
of Section 5 hereof, Antigenics agrees that during the term hereof it will share
with the Fordham employees working on the Project hereunder the results of
research and development efforts of Antigenics employees in the Field for the
purpose of enhancing the performance of the Project hereunder.

         7. PUBLICATIONS. Nothing in this Agreement shall prevent Fordham from
submitting for publication to any academic journal or periodical the results of
research relating to the Field or to which the services provided by Fordham to
Antigenics hereunder shall then pertain. So long as Fordham is subject to a
non-disclosure obligator under Section 5 hereof, Fordham shall deliver at least
30 days prior to any such submission for publication, to Antigenics a final form
of the manuscript to be so submitted. Notwithstanding the foregoing obligation
to deliver publications to Antigenics prior to submission for publication,
Fordham does not need to obtain Antigenics' approval of any manuscript prior to
publication of the manuscript. Fordham shall cooperate in a timely manner with
Antigenics in taking any and all actions necessary to perfect copyright and
patent protection with respect to, or to protect Antigenics' interest in, any
Proprietary Information or Intellectual Property that Antigenics may deem to be
disclosed in such manuscript.

         8. CONSULTATION WITH NON-COMMERCIAL ENTITIES. Subject to all the
provisions hereof, nothing herein shall preclude Fordham or employees of Fordham
working on the Project hereunder from consulting in the Field with
non-commercial entities and institutions.

         9. GENERAL. This Agreement constitutes the entire Agreement between the
parties relative to the subject matter hereof, and supersedes all proposals or
agreements, written or oral, and all other communications between the parties
relating to the subject matter of this Agreement.

         No provision of this Agreement shall be waived, amended, modified,
superseded, cancelled, renewed or extended except in a written instrument signed
by the party against whom any of the foregoing actions is asserted. Any waiver
shall be limited to the particular instance and for the particular purpose when
and for which it is given.

         The invalidity, illegality or unenforceability of any provision of this
Agreement shall in no way affect the validity, legality or enforceability of any
other provision of this Agreement.

         This Agreement, the Project to be performed and all rights hereunder
may not be transferred or assigned by Fordham at any time. Antigenics may assign
its rights, together with its obligations hereunder, to any affiliate or
successor in connection with any consolidation, merger, sale, transfer or other
disposition of all or substantially all, of Antigenics' business and assets. In
the event of any consolidation or merger of Antigenics' with or into any other
corporation, or the sale or conveyance of all or substantially all of the assets
of Antigenics to another corporation, the surviving or acquiring corporation
shall he entitled to the rights and benefits of the services provided under this
Agreement, and become obligated to perform all of the terms and conditions
hereof. The foregoing notwithstanding, Antigenics may transfer its Proprietary
Information without limitation.

                                       5
<PAGE>   6

         This Agreement shall be construed and enforced in accordance with, and
the rights of the parties shall be governed by, the internal laws of the State
of New York.

         All notices provided for in this Agreement shall be given in writing
and shall be effective when either served by personal delivery, express
overnight courier service, or by registered or certified mail, return receipt
requested, addressed to the parties at their respective addresses herein set
forth, or to such other address or addresses as either party may later specify
by written notice to the other.

         This Agreement may be executed in duplicate counterparts, which, when
taken together, shall constitute one instrument and each of which shall he
deemed to be an original instrument.

         The provisions of Sections 2, 3, 5 and 7 shall survive the termination
or expiration of this Agreement for the periods set forth herein as a continuing
agreement of the parties hereto.

         The parties agree that a breach of the provisions of Sections 2, 3, 5
and 7 of this Agreement by either party will cause irreparable damage to the
other party and that in the event of such breach either party shall have, in
addition to any and all remedies of law, the right to an injunction, specific
performance or other equitable relief to prevent the violation of the other
party's obligations hereunder. Nothing herein contained shall he construed as
prohibiting either party from pursuing any other remedies available to either
for breach by the other under this Agreement or applicable law.

         The parties agree that each provision of this Agreement shall be
treated as a separate and independent clause, and the unenforceability of any
one clause shall in no way impair the enforceability of any of the other clauses
herein. Moreover, if any one or more of the provisions of this Agreement shall
for any reason be held to be exclusively broad as to scope, activity or subject
so as to be unenforceable at law, such provisions shall be construed by the
appropriate judicial body by limiting and reducing it or them, so as to be
enforceable to the maximum extent compatible with the applicable low as it shall
then appear.

                  (REMAINDER OF PAGE LEFT BLANK INTENTIONALLY.)

                                       6
<PAGE>   7

         IN WITNESS WHEREOF, parties have executed this Agreement as of the day
and year first above written.

                                        ANTIGENICS, INC.

                                        By: /s/ Garo H. Armen
                                            ------------------------------------
                                            President

                                        FORDHAM UNIVERSITY

                                        By: [AUTHORIZED SIGNATORY]
                                            ------------------------------------
                                            Title:
                                                  ------------------------------

                                       7
<PAGE>   8

                                                                       EXHIBIT A
                                                                       ---------

                                   THE PROJECT

         [

         ]*.

_________________________

* This portion of the Exhibit has been omitted pursuant to a Request for
Confidential Treatment under Rule 406 of the Securities Act of 1933, as amended.
The complete Exhibit, including the portions for which confidential treatment
has been requested, has been filed separately with the Securities Exchange
Commission.

                                       i
<PAGE>   9

                                                                       EXHIBIT B
                                                                       ---------

        First Year's (November 1, 1994 to October 31, 1995) Budget
        ----------------------------------------------------------

I.    Equipment

Computers and printer                                           $ 12,000
------------------------------------------------------------------------
II.   Supplies

Calf sera ($150/bottle)                                         $  9,000
Mice ($12/mouse)                                                   3,600
Peptides (-$700/peptide)                                          14,000
Chemicals                                                         35,000
Plasticware (tissue culture ware)                                 20,000
Non-capital equipment                                             14,000
                                                                --------
TOTAL                                                           $ 95,600

------------------------------------------------------------------------
III.  Services

Mouse maintenance (400 mice)                                    $ 24,000

------------------------------------------------------------------------
IV.   Personnel

Kim Wilkins (Secy.)                                             $ 25,000
Navdeep Jaikaria (PDF)                                            32,000
Antoinc Menoret (PDF)                                             10,000
Post-Doctoral Fellow (TBN)                                        27,000
Technician (TBN)                                                  25,000
Arick Cupper (Technician)                                         22,000
                                                                --------
TOTAL                                                           $141,000

------------------------------------------------------------------------
V.    Miscellaneous

Slides/prints                                                   $  2,000
Transportation (samples, mice, people)                             3,600
                                                                --------
TOTAL                                                           $  5,600

------------------------------------------------------------------------
VI/   Indirect cost (84.4% of personnel)                        $119,004

GRAND TOTAL                                                     $397,204

                                       ii
<PAGE>   10

                                  AMENDMENT TO
                             SPONSORED RESEARCH AND
                          TECHNOLOGY LICENSE AGREEMENT
                                 BY AND BETWEEN
                                ANTIGENICS, INC.
                                       AND
                               FORDHAM UNIVERSITY

         THIS AMENDMENT TO THE SPONSORED RESEARCH AND TECHNOLOGY LICENSE
AGREEMENT ("AMENDMENT"), effective as of March 22, 1996 ("EFFECTIVE DATE"), is
made and entered into by and between ANTIGENICS, INC., a Delaware corporation
having a principal place of business c/o Armen Partners, L.P., 630 Fifth Avenue,
Suite #918, New York, New York 10111, ("Antigenics") and FORDHAM UNIVERSITY,
having a principal of business at 441 East Fordham Road, Bronx, New York 10458
("Fordham").

         WHEREAS Antigenics and Fordham entered into a Sponsored Research and
Technology License Agreement ("License Agreement") effective as of March 28,
1995 pursuant to which Antigenics (i) agreed to fund certain research activities
by Dr. Pramod K. Srivastava at Fordham, and (ii) obtained a worldwide, exclusive
license under Intellectual Property (as defined in thc License Agreement); and

         WHEREAS Antigenics and Fordham desire to amend the License Agreement to
provide for modification of the obligations of the parties.

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

1.       GRANT

         Section 2(B) of the License Agreement is hereby amended to read in its
entirety as follows:

                  (B) GRANT OF LICENSE. In consideration of the research support
         set out in Section 1(C) hereinabove and other good and valuable
         consideration, Fordham hereby grants to Antigenics a worldwide,
         exclusive license to all Intellectual Property, including without
         limitation all patents and patent applications therein.

2.       RIGHT TO SUBLICENSE

         Section 2(D) of the License Agreement is hereby amended to read in its
entirety as follows:

                  (D) RIGHT TO SUBLICENSE. Antigenics may grant sublicenses to
         the Intellectual Property; provided that, at least ten (10) business
         days prior to the effective date of any such sublicense, Antigenics
         shall provide written notice to Fordham of Antigenics'

                                      iii

<PAGE>   11

         intention to grant such sublicense, such notice to be provided in
         accordance with the provisions of Section 9. Fordham may provide
         comments to Antigenics relating to the terms and conditions of such
         sublicense. In the event that Fordham provides comments to Antigenics,
         Antigenics shall consider such comments in good faith; provided that
         such comments are received by Antigenics within ten (10) business days
         after Fordham's receipt of Antigenics written notice. Antigenics
         acknowledges that it is aware of, and will take fully into account the
         distinctive history, tradition and mission of Fordham, in its
         evaluation and selection of sublicensees under the Intellectual
         property. Antigenics agrees that the economic terms and conditions of
         any sublicense granted by Antigenics will be at least as favorable as
         the economic terms and conditions of the license between Fordham and
         Antigenic relating to the Intellectual Property. In addition,
         Antigenics agrees that it will include in any sublicense granted by
         Antigenics the condition that in the event of any event of, or filing
         for, bankruptcy, arrangement among creditors or any other procedure
         sounding in insolvency, the sublicense, to the extent permitted by
         applicable law, will be immediately terminated and of no further force
         or effect.

3.       OTHER PROVISIONS

         All provisions of the License Agreement not expressly modified by this
Amendment shall remain in full force and effect.

         IN WITNESS WHEREOF, the parties hereto have caused their duly
authorized representatives to execute this Amendment.

ANTIGENICS, INC.                        FORDHAM UNIVERSITY
("Antigenics")                          ("FORDHAM")

By: /s/ Garo H. Armen                   By: /s/ Robert W. Charrubba
    ---------------------------------       ---------------------------------

Name:   Garo H. Armen                   Name:   Robert W. Charrubba
     --------------------------------        --------------------------------

Title:  Chairman & CEO                  Title:  VP for Academic Affairs
      -------------------------------         -------------------------------

                                       4

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