Document:

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                                                                   Exhibit 10.44

                             Dated August [__], 2005

                            COMBINATORX INCORPORATED

                                   as Chargor

                                       and

                   BIOMEDICAL SCIENCES INVESTMENT FUND PTE LTD

                                   as Chargee

                                  SHARE CHARGE

                                                               ALLEN & GLEDHILL
                                                               36 ROBINSON ROAD
                                                               #18-01 CITY HOUSE
                                                               SINGAPORE 068877

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                                TABLE OF CONTENTS

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CONTENTS                                                                        PAGE
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1.   INTERPRETATION ...............................................................3

2.   GUARANTEE ....................................................................5

3.   UNDERTAKING TO PAY ...........................................................6

4.   SECURITY .....................................................................6

5.   RESTRICTIONS AND FURTHER ASSURANCE ...........................................6

6.   CHARGED SHARES ...............................................................6

7.   GENERAL UNDERTAKINGS .........................................................7

8.   REPRESENTATIONS AND WARRANTIES ...............................................7

9.   ENFORCEMENT ..................................................................8

10.  CHARGEE'S RIGHTS .............................................................8

11.  ORDER OF DISTRIBUTIONS .......................................................8

12.  LIABILITY OF CHARGEE AND DELEGATES ...........................................9

13.  POWER OF ATTORNEY ............................................................9

14.  PROTECTION OF THIRD PARTIES .................................................10

15.  SAVING PROVISIONS ...........................................................10

16.  DISCHARGE OF SECURITY .......................................................12

17.  ENFORCEMENT EXPENSES ........................................................12

18.  PAYMENTS ....................................................................12

19.  AMENDMENTS AND WAIVERS ......................................................13

20.  CERTIFICATES AND DETERMINATIONS .............................................13

21.  NOTICES .....................................................................13

22.  CONTRACTS (RIGHTS OF THIRD PARTIES) ACT, CHAPTER 53B ........................14

23.  COUNTERPARTS ................................................................14

24.  GOVERNING LAW ...............................................................14
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SCHEDULE 1 ...................................................................................15
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THIS DEED is made on August [__], 2005 BETWEEN:

(1)    COMBINATORX INCORPORATED, a company incorporated in Delaware having its
       registered office at c/o The Corporation Trust Company, 1209 Orange
       Street, Wilmington, Delaware 19801 (the "CHARGOR"); and

(2)    BIOMEDICAL SCIENCES INVESTMENT FUND PTE LTD, a company incorporated in
       Singapore having its registered office at 20 Biopolis Way #09-01 Centros,
       Singapore 138668 (the "CHARGEE").

BACKGROUND

(A)    Pursuant to a subscription and shareholders agreement entered into on
       even date between the Chargor, the Chargee and CombinatoRx (Singapore)
       Pte. Ltd. (the "COMPANY"), the Chargee had agreed to subscribe for
       US$5,500,000 in aggregate principal amount of 5 per cent. series 1 notes
       due 2009 (the "SERIES 1 NOTES"), US$3,500,000 in aggregate principal
       amount of 5 per cent. series 2 notes due 2009 (the "SERIES 2 NOTES"),
       US$3,500,000 in aggregate principal amount of 5 per cent. series 3 notes
       due 2009 (the "SERIES 3 NOTES"), US$2,500,000 in aggregate principal
       amount of 5 per cent. series 4 notes due 2009 (the "SERIES 4 NOTES") and
       US$2,500,000 in aggregate principal amount of 5 per cent. series 5 notes
       due 2009 (the "SERIES 5 NOTES"), to be issued by the Company (the Series
       1 Notes, the Series 2 Notes, the Series 3 Notes, the Series 4 Notes and
       the Series 5 Notes being collectively, the "NOTES") in accordance with
       the terms and conditions contained therein (the "SSA") and the terms and
       conditions of the Notes (the "NOTE CONDITIONS").

(B)    The Parties (as defined below) have simultaneously entered into a swap-up
       agreement on even date to provide for the possible purchase by the
       Chargor of the Preference Shares (as defined in the SSA) held by the
       Chargee and the possible swap-up of the Preference Shares and the Notes
       into shares in the capital of the Chargor, all by way of the exercise of
       put and call options by the Chargee and/or the Chargor and the allotment
       of shares in the capital of the Chargor (the "SUA").

(C)    The Chargor has (after giving due consideration to the terms and
       conditions of the Documents and satisfying itself that there are
       reasonable grounds for believing that the execution by it of this Deed
       will benefit it) decided in good faith and for the purposes of its
       business to enter into this Deed.

NOW THEREFORE in consideration of the Chargee's agreement to enter into the SSA
and the SUA and the mutual promises, representations and warranties hereinafter
set forth, and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the Parties agree as follows:

1.     INTERPRETATION

1.1    DEFINITIONS AND CONSTRUCTIONS

       Terms defined and references construed in the Documents have the same
       meaning and construction in this Deed, except to the extent that the
       context requires otherwise and, in addition:

       "ACT" means the Conveyancing and Law of Property Act, Chapter 61 of
       Singapore;

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       "ARTICLES" means the articles of association for the time being of the
       Company;

       "BUSINESS DAY" means a day which is not Saturdays, Sundays or public
       holidays on which commercial banks are open in Singapore;

       "CHARGED ASSETS" means the assets from time to time subject, or expressed
       to be subject, to the Charges or any part of those assets;

       "CHARGES" means the security created or expressed to be created over the
       Charged Assets by or pursuant to this Deed;

       "CHARGOR LIABILITIES" means all present and future moneys, debts and
       liabilities (whether by way of principal, interest, fees, commissions or
       otherwise) which now are or have been or at any time hereafter may be or
       become due from or owing by the Chargor to the Chargee whether actually
       or contingently, under or in connection with its guarantee of the
       obligations of the Company under the Company Liabilities referred to in
       Clause 2;

       "CHARGED SHARES" means:

       (1)      all present and future shares of the Chargor in the Company;

       (2)      all rights relating to any present and future shares of the
                Chargor which are deposited with or registered in the name of,
                any depositary, custodian, nominee, clearing house or system,
                investment manager, chargee or other similar person or their
                nominee, in each case whether or not on a fungible basis
                (including any rights against any such person); and

       (3)      all warrants, options and other rights to subscribe for,
                purchase or otherwise acquire any of the present and future
                shares of the Chargor in the Company,

       in each case now or in the future owned by it or (to the extent of its
       interest) in which it now or in the future has an interest;

       "COMPANY LIABILITIES" means all present and future moneys, debts and
       liabilities (whether by way of principal, interest, fees, commissions or
       otherwise) which now are or have been or at any time hereafter may be or
       become due from or owing by the Company to the Chargee whether actually
       or contingently, under or in connection with the Notes;

       "CURRENCY OF ACCOUNT" means the currency in which the relevant
       indebtedness is denominated or, if different, is payable;

       "DELEGATE" means a delegate or sub-delegate appointed under Clause 10.2;

       "DIVIDENDS" means, in relation to any Charged Share, all present and
       future:

       (1)      dividends and distributions of any kind and any other sum
                received or receivable in respect of that Charged Share;

       (2)      rights, shares, money or other assets accruing or offered by way
                of redemption, bonus, option or otherwise in respect of that
                Charged Share;

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       (3)      allotments, offers and rights accruing or offered in respect of
                that Charged Share; and

       (4)      other rights and assets attaching to, deriving from or
                exercisable by virtue of the ownership of, that Charged Share;

       "DOCUMENTS" means the SSA, the Note Conditions and the SUA and "DOCUMENT"
       means any one of them;

       "ENCUMBRANCES" means any claim, charge, mortgage, security, lien, option,
       equity, power of sale, hypothecation or other third party rights,
       retention of title, right of pre-emption, right of first refusal or
       security interest of any kind;

       "ENFORCEMENT EVENT" means the failure of the Company or the Chargor to
       pay, satisfy or discharge when due any part or parts of the Company
       Liabilities or the Chargor Liabilities, as the case may be, owed to the
       Chargee;

       "LIABILITIES" means the Chargor Liabilities and the Company Liabilities;

       "PARTIES" means the Chargor and the Chargee and "PARTY" means any one of
       them;

       and

       "WINDING-UP" means winding up, amalgamation, reconstruction,
       administration, dissolution, liquidation, merger or consolidation or any
       analogous procedure or step in any jurisdiction.

1.2    THIS DEED

       Except to the extent that the context otherwise requires, any reference
       to "THIS DEED" includes any document which is supplemental hereto or
       which is expressed to be collateral herewith or which is entered into
       pursuant to or in accordance with the terms hereof.

1.3    MISCELLANEOUS

       The headings in this Deed are inserted for convenience only and shall be
       ignored in construing this Deed. Unless the context otherwise requires,
       words denoting the singular number only shall include the plural and VICE
       VERSA. References to a statute shall be deemed to be references to that
       statute as from time to time amended or re-enacted. Save where otherwise
       indicated, references to "CLAUSES" and "SCHEDULES" are to be construed as
       references to clauses of, and the schedules to, this Deed.

2.     GUARANTEE

2.1    In consideration of the Chargee agreeing to enter into the Documents, the
       Chargor hereby unconditionally and irrevocably guarantees to the Chargee,
       only to the extent set out in this Deed, the performance by the Company
       of all its obligations under the Notes, and as a separate independent and
       primary obligation agrees to indemnify the Chargee, only to the extent
       set out in this Deed, against all losses incurred as a result of any of
       such obligations being or becoming void, voidable, unenforceable or
       ineffective Provided Always that the Chargor's maximum aggregate
       liability under this Deed shall be limited to the Charged Assets.

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3.     UNDERTAKING TO PAY

       The Chargor shall pay each of its Chargor Liabilities and shall procure
       the payment by the Company of each of its Company Liabilities when due in
       accordance with its terms or, if they do not specify a time for payment,
       immediately on demand by the Chargee. For the avoidance of doubt, the
       Chargor's maximum aggregate liability under this Deed shall be limited to
       the Charged Assets.

4.     SECURITY

4.1    EQUITABLE CHARGE

       As security for the payment of all the Chargor Liabilities, the Chargor
       charges in favour of the Chargee by way of first fixed charge, all the
       Charged Shares.

4.2    SHARE CERTIFICATES ETC.

       The Chargor shall on the date of this Deed and, in the case of Charged
       Shares acquired by it after the date of this Deed, on the date of that
       acquisition, deliver to the Chargee, or as it directs, all certificates
       representing Charged Shares and transfers of the Charged Shares executed
       in blank and shall promptly deliver to the Chargee, or as it directs, any
       other documents relating to the Charged Shares which the Chargee may
       reasonably require.

5.     RESTRICTIONS AND FURTHER ASSURANCE

5.1    SECURITY

       The Chargor shall not create or permit to subsist any security over the
       Charged Assets other than the security created pursuant to this Deed.

5.2    DISPOSAL

       The Chargor shall not (nor shall it agree to) enter into a single
       transaction or a series of transactions (whether related or not and
       whether voluntary or involuntary) to sell, lease, transfer or otherwise
       dispose of the Charged Assets.

5.3    FURTHER ASSURANCE

       The Chargor shall promptly do whatever is necessary:

       5.3.1    to perfect or protect the Charges or the priority of the
                Charges; or

       5.3.2    to facilitate the realisation of the Charged Assets or the
                exercise of any rights vested in the Chargee or any Delegate,

       including executing any transfer, charge, assignment or assurance of the
       Charged Assets (whether to the Chargee or its nominees or otherwise),
       making any registration and giving any notice, order or direction.

6.     CHARGED SHARES

6.1    VOTING AFTER ENFORCEMENT EVENT

       At any time after an Enforcement Event has occurred:

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       6.1.1    the Chargee shall be entitled to exercise or direct the exercise
                of the voting and other rights attached to any Charged Share as
                it sees fit; and

       6.1.2    the Chargor shall comply or procure the compliance with any
                directions of the Chargee in respect of the exercise of those
                rights and shall promptly execute and/or deliver to the Chargee
                such forms of proxy as the Chargee requires with a view to
                enabling such person as it selects to exercise those rights.

6.2    DIVIDENDS BEFORE ENFORCEMENT EVENT

       Subject to Clause 6.3, the Chargor shall be entitled to retain any cash
       income derived from the Charged Shares.

6.3    DIVIDENDS AFTER ENFORCEMENT EVENT

       At any time after an Enforcement Event has occurred, the Chargor shall
       hold any Dividend received by it on trust for the Chargee and pay the
       same immediately to the Chargee or as the Chargee may direct.

6.4    ACQUISITION OF CHARGED SHARES

       The Chargor shall within five Business Days, notify the Chargee of:

       6.4.1    its acquisition of, or agreement to acquire, any further shares
                in the Company; and

       6.4.2    the declaration, payment, allotment, offer or issue of any
                Dividend.

7.     GENERAL UNDERTAKINGS

       The Chargor shall not do, or permit to be done, anything which could
       prejudice the Charges.

8.     REPRESENTATIONS AND WARRANTIES

       The Chargor makes the representations and warranties set out in this
       Clause 8 to the Chargee on the date of this Deed.

8.1    OWNERSHIP

       8.1.1    The Chargor is the sole, absolute, legal and beneficial owner of
                the Charged Assets.

       8.1.2    Such Charged Shares are free from any Encumbrances whatsoever,
                save for (i) any rights of pre-emption or rights of first
                refusal under the SSA and (ii) the security created by this
                Deed.

8.2    CHARGED SHARES FULLY PAID ETC

       The Charged Shares are duly authorised, validly issued and fully paid.
       There are no moneys or liabilities outstanding or payable in respect of
       any of the Charged Shares.

8.3    REPETITION

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       Each of the representations and warranties in Clauses 8.1 to 8.2 are
       deemed to be made by the Chargor by reference to the facts then existing
       at all times during the continuance of this Deed.

9.     ENFORCEMENT

9.1    POWER OF SALE

       The Chargee may exercise the statutory power of sale, of appointing a
       receiver and the other statutory powers conferred on mortgagees by the
       Act as varied and extended by this Deed free from the restrictions
       imposed by Section 25 thereof.

9.2    ENFORCEABILITY OF SECURITY

       As between the Parties, the Charges shall become immediately enforceable,
       and the power of sale and other powers conferred by Section 24 of the Act
       as varied and extended by this Deed shall be immediately exercisable, at
       any time after or upon the occurrence of an Enforcement Event.

10.    CHARGEE'S RIGHTS

10.1   RIGHTS OF CHARGEE

       The Chargor hereby agrees, without prejudice to any of the provisions of
       this Deed and to any other rights hereby conferred on the Chargee, that
       at any time after the Charges become enforceable, whether or not the
       Chargee shall have taken possession of the Charged Assets, the Chargee
       shall have the rights set out in Schedule 1.

10.2   DELEGATION

       The Chargee may, acting reasonably, at any time and from time to time
       after an Enforcement Event has occurred, delegate in any manner to any
       person or persons or fluctuating body of persons, all or any rights
       exercisable by the Chargee under this Deed. Any such delegation may be
       made upon such terms and conditions (including power to sub-delegate) as
       the Chargee thinks fit.

10.3   NO LIABILITY

       The Chargee shall not be liable or responsible to the Chargor or any
       other person for any costs, charges, losses, damages, liabilities or
       expenses arising from any act, default, omission or misconduct of any
       such delegate, except to the extent caused by the Chargee's own gross
       negligence or wilful misconduct in choosing the delegate.

11.    ORDER OF DISTRIBUTIONS

11.1   All amounts received or recovered by the Chargee or any Delegate in
       exercise of their rights under this Deed shall be applied in the
       following order:

       11.1.1   in the payment of the reasonable costs, charges and expenses of
                and incidental to the Chargee or any Delegate's appointment and
                the payment of his remuneration;

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       11.1.2   in the payment and discharge of any liabilities reasonably
                incurred by the Chargee or any Delegate on the Chargor's behalf
                in the proper exercise of any of the powers of the Chargee or
                any Delegate as the case may be;

       11.1.3   in or towards payment of any debts or claims which are by
                statute payable in preference to the Liabilities but only to the
                extent to which such debts or claims have such preference;

       11.1.4   in or towards payment or satisfaction of the Liabilities in
                accordance with the Notes; and

       11.1.5   in payment of any surplus to the Chargor or any other person
                lawfully entitled thereto.

12.    LIABILITY OF CHARGEE AND DELEGATES

12.1   POSSESSION

       If the Chargee or any Delegate takes possession of the Charged Assets, it
       may at any time relinquish possession.

12.2   CHARGEE'S LIABILITY

       Neither the Chargee nor any Delegate shall (either by reason of taking
       possession of the Charged Assets or for any other reason and whether as
       mortgagee in possession or otherwise) be liable to the Chargor or any
       other person for any costs, losses, liabilities or expenses relating to
       the realisation of any Charged Assets or from any act, default, omission
       or misconduct of the Chargee, any Delegate or their respective officers,
       employees or agents in relation to the Charged Assets or in connection
       with the Documents except to the extent caused by its or his own gross
       negligence or wilful misconduct.

13.    POWER OF ATTORNEY

13.1   APPOINTMENT

       The Chargor by way of security irrevocably appoints the Chargee and every
       Delegate severally as its attorney (with full power of substitution), on
       its behalf and in its name or otherwise, at such time and in such manner
       as the attorney in its/his reasonable opinion thinks fit:

       13.1.1   to do anything which the Chargor is obliged to do (but has not
                done) under this Deed (including to execute charges over,
                transfers, conveyances, assignments and assurances of, and other
                instruments, notices, orders and directions relating to, the
                Charged Assets); and

       13.1.2   to exercise any of the rights conferred on the Chargee or any
                Delegate in relation to the Charged Assets or under this Deed or
                the Act upon the occurrence of an Enforcement Event.

13.2   RATIFICATION

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       The Chargor ratifies and confirms and agrees to ratify and confirm
       whatever any such attorney shall do in the exercise or purported exercise
       of the power of attorney granted by it in Clause 13.1.

14.    PROTECTION OF THIRD PARTIES

14.1   NO DUTY TO ENQUIRE

       No person dealing with the Chargee or any Delegate shall be concerned to
       enquire:

       14.1.1   whether the rights conferred by or pursuant to this Deed are
                exercisable;

       14.1.2   whether any consents, regulations, restrictions or directions
                relating to such rights have been obtained or complied with;

       14.1.3   otherwise as to the propriety or regularity of acts purporting
                or intended to be in exercise of any such rights; or

       14.1.4   as to the application of any money borrowed or raised.

14.2   PROTECTION TO PURCHASERS

       Upon any sale or disposal of the Charged Assets or any part thereof which
       the Chargee shall make or purport to make under the provisions of this
       Deed, a statement in writing from the Chargee that the security created
       by this Deed has become enforceable and that the power of sale has become
       exercisable shall be conclusive evidence of the fact in favour of any
       purchaser or other person to whom any of the Charged Assets may be
       transferred and such purchaser or other person will take the same free of
       any rights of the Chargor. The Chargor undertakes to indemnify the
       Chargee against any claim which may be made against the Chargee by such
       purchaser or any other person by reason of any defect in its title to the
       Charged Assets.

15.    SAVING PROVISIONS

15.1   CONTINUING SECURITY

       Subject to Clause 16, the Charges are continuing security and will extend
       to the ultimate balance of the Liabilities, regardless of any
       intermediate payment or discharge in whole or in part.

15.2   REINSTATEMENT

       If any payment by the Chargor or any discharge given by the Chargee
       (whether in respect of any security for those obligations or otherwise)
       is avoided or reduced as a result of insolvency or any similar event:

       15.2.1   the liability of the Chargor under the Charges shall continue as
                if the payment, discharge, avoidance or reduction had not
                occurred; and

       15.2.2   the Chargee shall be entitled to recover the value or amount of
                that security or payment from the Chargor, as if the payment,
                discharge, avoidance or reduction had not occurred.

15.3   WAIVER OF DEFENCES

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       Neither the obligations of the Chargor under this Deed nor the Charges
       will be affected by an act, omission, matter or thing which, but for this
       Clause, would reduce, release or prejudice any of its obligations under
       any Documents or any of the Charges (without limitation and whether or
       not known to the Chargor) including:

       15.3.1   any time, waiver or consent granted to the Chargor or the
                Company, or composition with the Chargee or other person;

       15.3.2   the taking, variation, compromise, exchange, renewal or release
                of, or refusal or neglect to perfect, take up or enforce any
                rights against, or security over assets of, any Party or any
                other person or any non-presentation or non-observance of any
                formality or other requirement in respect of any instrument or
                any failure to realise the full value of any security;

       15.3.3   any incapacity or lack of power, authority or legal personality
                of or dissolution or change in the members or status of any
                Party or any other person;

       15.3.4   any amendment (however fundamental) or replacement of any
                Documents or any other document or security;

       15.3.5   any unenforceability, illegality or invalidity of any obligation
                of any person under any Documents or any other document or
                security; or

       15.3.6   any insolvency or similar proceedings.

15.4   IMMEDIATE RECOURSE

       The Chargee agrees that it shall proceed against and enforce any rights
       or security or claim payment under the SSA and the Debenture before
       claiming from the Chargor under this Deed.

15.5   APPROPRIATIONS

       Until all the Liabilities have been irrevocably paid in full the Chargee
       may:

       15.5.1   refrain from applying or enforcing any other moneys, security or
                rights held or received by the Chargee in respect of those
                amounts, or apply and enforce the same in such manner and order
                as it (in its reasonable opinion) sees fit (whether against
                those amounts or otherwise) and the Chargor shall not be
                entitled to the benefit of the same; and

       15.5.2   hold in an interest-bearing suspense account any moneys received
                from the Chargor or the Company on account of the Chargor
                Liabilities or the Company Liabilities under this Deed.

15.6   ADDITIONAL SECURITY

       The Charges are in addition to and are not in any way prejudiced by any
       other guarantees or security now or subsequently held by the Chargee with
       respect to the Liabilities.

15.7   TACKING

       Each Party shall comply with its obligations under the Documents
       (including any obligation to make further advances).

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16.    DISCHARGE OF SECURITY

16.1   FINAL REDEMPTION

       Subject to Clause 16.2, if the Chargee is satisfied that all the
       Liabilities have been irrevocably paid in full, the Chargee shall within
       14 Business Days at the request and cost of the Chargor release, reassign
       or discharge (as appropriate) the Charged Assets from the Charges.

16.2   RETENTION OF SECURITY

       If the Chargee in its reasonable opinion considers that any amount paid
       or credited to the Chargee under any Documents is capable of being
       avoided or otherwise set aside on the Winding-up of the Chargor or any
       other person, or otherwise, that amount shall not be considered to have
       been paid for the purposes of determining whether all the Liabilities
       have been irrevocably paid.

17.    ENFORCEMENT EXPENSES

17.1   EXPENSES

       Subject to the limitation of liability under Clauses 2.1 and 3, the
       Chargor shall, within three Business Days of demand, pay to the Chargee
       the amount of all costs, losses, liabilities and expenses (including
       legal fees) reasonably incurred by the Chargee or any Delegate in
       relation to this Deed (including the administration, protection,
       realisation, enforcement or preservation of any rights under or in
       connection with this Deed and/or any amendment, waiver, consent or
       release of any Documents and/or any other document referred to in this
       Deed).

17.2   STAMP DUTIES

       Subject to the limitation of liability under Clauses 2.1 and 3, any stamp
       duty payable on any transfer of the Charged Shares pursuant to this Deed
       shall be borne by the Chargor.

18.    PAYMENTS

18.1   DEMANDS

       Any demand for payment made by the Chargee shall contain a statement of
       the relevant Liabilities then due and payable.

18.2   PAYMENTS

       All payments by the Chargor under this Deed (including damages for its
       breach) shall be made in the Currency of Account and to such account,
       with such financial institution and in such other manner as the Chargee
       may direct.

18.3   PARTIAL PAYMENTS

       If the Chargee receives a payment that is insufficient to discharge all
       the amounts then due and payable by the Company under the Notes, the
       Chargee shall procure that the Company applies that payment towards the
       obligations of the Company under the Notes in the following order:

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       18.3.1   first, in or towards payment pro rata of any unpaid fees, costs
                and expenses reasonably incurred by the Chargee under this Deed;

       18.3.2   secondly, in or towards payment pro rata of any accrued interest
                or commission due but unpaid under the Notes;

       18.3.3   thirdly, in or towards payment pro rata of any principal due but
                unpaid under the Notes; and

       18.3.4   fourthly, in or towards payment pro rata of any other sum due
                but unpaid under the Notes.

       Clause 18.3 will override any appropriation made by the Chargor.

19.    AMENDMENTS AND WAIVERS

       19.1.1   Any term of this Deed may be amended or waived only with the
                written consent of the Parties.

20.    CERTIFICATES AND DETERMINATIONS

       Any certification or determination by the Chargee or Delegate under this
       Deed is, in the absence of manifest error, conclusive evidence of the
       matters to which it relates.

21.    NOTICES

21.1   COMMUNICATIONS IN WRITING

       Any communication to be made under or in connection with this Deed shall
       be made in writing and, unless otherwise stated, may be made by fax or
       letter.

21.2   ADDRESSES

       The address and fax number (and the department or officer, if any, for
       whose attention the communication is to be made) of each Party for any
       communication or document to be made or delivered under or in connection
       with this Deed is that identified with its name below, or any substitute
       address, fax number or department or officer as the Party may notify to
       the other by not less than five Business Days' notice.

21.3   DELIVERY

       Any communication from one Party to the other shall be conclusively
       deemed to be received by the other Party:

       (i)      if sent by fax between 9 a.m. and 5 p.m. (local time in the
                place to which it is sent) on a Business Day in that place, when
                sent or, if sent by fax at any other time, at 9 a.m. (local time
                in the place to which it is sent) on the next Business Day in
                that place; or

       (ii)     in any other case, when left at the address required by Clause
                21.2 or within 3 Business Days after being put in the post (by
                express airmail if to another country) postage prepaid and
                addressed to that Party at that address.

                                     - 13 -
<Page>

22.    CONTRACTS (RIGHTS OF THIRD PARTIES) ACT, CHAPTER 53B

22.1   Unless expressly provided to the contrary, a person who is not a party to
       this Deed has no right under the Contracts (Rights of Third Parties) Act,
       Chapter 53B to enforce or enjoy the benefit of any term of this Deed.

23.    COUNTERPARTS

       This Deed may be executed in one or more counterparts by the Parties,
       each of which, when so executed shall be deemed to be an original and all
       of which taken together shall constitute one and the same instrument
       Provided that this Deed shall be of no force and effect until the
       counterparts are exchanged. Signatures may be exchanged by facsimile,
       with original signatures to follow. Each of the Parties agrees to be
       bound by its own facsimile signature and that it accepts the facsimile
       signature of the other Party.

24.    GOVERNING LAW

       This Deed shall be governed by and construed in accordance with Singapore
       law.

                                     - 14 -
<Page>

                                   SCHEDULE 1

                                RIGHTS OF CHARGEE

Upon the occurrence of an Enforcement Event, the Chargee shall have the right,
either in its own name or in the name of the Chargor or otherwise and in such
manner and on such terms and conditions as the Chargee thinks fit, and either
alone or jointly with any other person:

(a)    ENTER INTO POSSESSION

       to take possession of, get in and collect the Charged Assets and to
       require payment to it of all Dividends;

(b)    DEAL WITH CHARGED ASSETS

       to sell, transfer, assign, exchange or otherwise dispose of or realise
       the Charged Assets to any person either by public offer or auction,
       tender or private contract and for a consideration of any kind (which may
       be payable or delivered in one amount or by instalments spread over a
       period or deferred);

(c)    BORROW MONEY

       to borrow or raise money either unsecured or on the security of the
       Charged Assets (either in priority to the Charges or otherwise);

(d)    CLAIMS

       to settle, adjust, refer to arbitration, compromise and arrange any
       claims, accounts, disputes, questions and demands with or by any person
       who is or claims to be a creditor of that Chargor or relating to the
       Charged Assets;

(e)    LEGAL ACTIONS

       to bring, prosecute, enforce, defend and abandon actions, suits and
       proceedings in relation to the Charged Assets;

(f)    REDEMPTION OF SECURITY

       to redeem any security (whether or not having priority to the Charges)
       over the Charged Assets and to settle the accounts of any person with an
       interest in the Charged Assets;

(g)    RIGHTS OF OWNERSHIP

       to exercise and do (or permit the relevant Chargor or any nominee of it
       to exercise and do) all such rights and things as the Chargee would be
       capable of exercising or doing if it were the absolute beneficial owner
       of the Charged Assets; and

(h)    OTHER POWERS

       to do anything else it may think fit for the realisation of the Charged
       Assets or incidental to the exercise of any of the rights conferred on
       the Chargee under or by virtue of any Documents to which the relevant
       Chargor is party, the Act or any laws or regulations.

                                     - 15 -
<Page>

IN WITNESS WHEREOF this Deed has been executed by the Parties hereto on the date
stated at the beginning.

THE CHARGOR

THE COMMON SEAL of

COMBINATORX INCORPORATED                   }

was hereunto affixed in the presence of:

-----------------------------------
Director

-----------------------------------
Director/Secretary

Address:

Fax No:

Attention:

                                     - 16 -
<Page>

THE CHARGEE

THE COMMON SEAL of

BIOMEDICAL SCIENCES INVESTMENT             }

FUND PTE LTD

was hereunto affixed in the presence of:

-----------------------------------
Director

-----------------------------------
Director/Secretary

Address:

Fax No:

Attention:

                                     - 17 -<Page>

                                                                   EXHIBIT 10.45

      THIS WARRANT AND ANY SHARES ACQUIRED UPON THE EXERCISE OR CONVERSION OF
      THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
      AS AMENDED, OR UNDER THE SECURITIES LAWS OF ANY STATE, AND MAY NOT BE
      SOLD, OR OTHERWISE TRANSFERRED, IN THE ABSENCE OF SUCH REGISTRATION OR
      AN EXEMPTION THEREFROM UNDER SUCH ACT AND UNDER ANY SUCH APPLICABLE
      STATE LAWS.

                          COMBINATORX, INCORPORATED

                        COMMON STOCK PURCHASE WARRANT

No. W-1                                                          August 19, 2005

      COMBINATORX, INCORPORATED, a Delaware corporation (the "Company") with
offices located at 650 Albany Street, Boston, Massachusetts 02118, for value
received, hereby certifies that Biomedical Sciences Investment Fund Pte Ltd,
a Singapore private limited company with offices at 20 Biopolis Way, #09-01
Centros, Singapore 138668, or registered assigns, is entitled to purchase
from the Company 25,000 duly authorized, validly issued, fully paid and
nonassessable shares of Common Stock $.001 par value (the "COMMON STOCK"), of
the Company at the purchase price per share of $11.00 (the "INITIAL WARRANT
PRICE"), at any time or from time to time after August 19, 2006 and prior to
5:00 p.m., Boston, Massachusetts time, on the fifth anniversary of the date
set forth above (the "Expiration Date").

1. DEFINITIONS. Certain capitalized terms are used in this Warrant as
specifically defined below in this Section 1. Except as the context otherwise
explicitly requires, (a) the capitalized term "Section" refers to sections of
this Warrant, (b) the capitalized term "Exhibit" refers to exhibits to this
Warrant, (c) references to a particular Section include all subsections
thereof, (d) the word "including" shall be construed as "including without
limitation", (e) accounting terms not otherwise defined herein have the
meaning provided under GAAP, (f) references to a particular statute or
regulation include all rules and regulations thereunder and any successor
statute, regulation or rules, in each case as from time to time in effect and
(g) references to a particular Person include such Person's successors and
assigns to the extent not prohibited by this Warrant. References to "the date
hereof" mean the date first set forth above.

      "ADDITIONAL SHARES OF COMMON STOCK" means any additional shares of
Common Stock beyond those shares of Common Stock which are currently issued
and outstanding.

                                       1
<Page>

      "BUSINESS DAY" means any day other than a Saturday or a Sunday or a day
on which commercial banking institutions in Boston, Massachusetts or New
York, New York are authorized by law to be closed.

      "COMMISSION" means the Securities and Exchange Commission or any other
federal agency at the time administering the Securities Act.

      "COMMON STOCK" is defined in the preamble and means the Common Stock of
the Company.

      "COMPANY" is defined in the preamble, and includes any corporation
which shall succeed to or assume the obligations of the Company hereunder in
compliance with the terms of this Agreement.

      "EXCHANGE ACT" means the federal Securities Exchange Act of 1934.

      "EXPIRATION DATE" is defined in the preamble.

      "INITIAL WARRANT PRICE" is defined in the preamble.

      "MARKET PRICE" means, on any date, the amount per share of Common Stock
equal to (a) the last sale price of Common Stock, regular way, on such date
or, if no such sale takes place on such date, the average of the closing bid
and asked prices thereof on such date, in each case as officially reported on
the principal national securities exchange on which Common Stock is then
listed or admitted to trading, or (b) if Common Stock is not then listed or
admitted to trading on any national securities exchange but is designated as
a national market system security by the NASD, the last trading price of
Common Stock on such date, or (c) if no trading occurred on such date or if
Common Stock is not so designated, the average of the closing bid and asked
prices of Common Stock on such date as shown by the NASD automated quotation
system..

      "NASD" means the National Association of Securities Dealers, Inc.

      "OTHER SECURITIES" means any stock (other than Common Stock) and other
securities of the Company or any other Person which the holders of the
Warrants at any time shall be entitled to receive, or shall have received,
upon the exercise of the Warrants, in lieu of or in addition to Common Stock,
or which at any time shall be issuable or shall have been issued in exchange
for or in replacement of Common Stock or Other Securities.

      "PERSON" means a corporation, an association, a partnership, a limited
partnership, an organization, a business trust, a limited liability company,
an individual, a government or political subdivision thereof or a
governmental agency.

      "SECURITIES ACT" means the federal Securities Act of 1933.

      "WARRANT PRICE" is defined in Section 3.1.

                                       2
<Page>

      "WARRANT SHARES" means the shares of Common Stock or Other Securities
issuable upon exercise or conversion of the Warrant.

      "WARRANT" means this Warrant.

2. EXERCISE OR CONVERSION OF WARRANT.

2.1. MANNER OF EXERCISE OR CONVERSION; PAYMENT.

            2.1.1. EXERCISE. This Warrant may be exercised by the holder
      hereof, in whole or in part, during normal business hours on any
      Business Day on or prior to the Expiration Date, by surrender of this
      Warrant to the Company at its office maintained pursuant to Section
      6.2(a), accompanied by a subscription in substantially the form
      attached to this Warrant duly executed by such holder and accompanied
      by payment, in cash or by check payable to the order of the Company,
      in the amount obtained by multiplying (a) the number of shares of
      Common Stock (without giving effect to any adjustment thereof)
      designated in such subscription by (b) the Initial Warrant Price, and
      such holder shall thereupon be entitled to receive the number of duly
      authorized, validly issued, fully paid and nonassessable Warrant
      Shares determined as provided in Section 3.

            2.1.2. CONVERSION. This Warrant may be converted by the holder
      hereof, in whole or in part, into Warrant Shares, at any time the
      Common Stock is listed or admitted to trading on any national exchange
      or quoted in the over-the-counter market, during normal business hours
      on any Business Day on or prior to the Expiration Date, by surrender
      of this Warrant to the Company at its office maintained pursuant to
      Section 6.2(a), accompanied by a conversion notice in substantially
      the form attached to this Warrant duly executed by such holder, and
      such holder shall thereupon be entitled to receive a number of duly
      authorized, validly issued, fully paid and nonassessable Warrant
      Shares equal to:

            (a) an amount equal to:

                  (i)   the product of (A) the number of Warrant Shares
                        determined as provided in Sections 3 through 5 which
                        such holder would be entitled to receive upon exercise
                        of this Warrant for the number of shares of Common Stock
                        designated in such conversion notice MULTIPLIED BY
                        (B) the Market Price of each such Warrant Share so
                        receivable upon such exercise

                        MINUS

                  (ii)  the product of (A) the number of shares of Common Stock
                        (without giving effect to any adjustment thereof)
                        designated in such conversion notice MULTIPLIED BY
                        (B) the Initial Warrant Price

                                       3
<Page>

                        DIVIDED BY

            (b) the Market Price of each such Warrant Share.

      For all purposes of this Warrant (other than this Section 2.1), any
      reference herein to the exercise of this Warrant shall be deemed to
      include a reference to the conversion of this Warrant into Warrant
      Shares in accordance with the terms of this Section 2.1.2.

      2.2. WHEN EXERCISE EFFECTIVE. Each exercise of this Warrant shall be
deemed to have been effected immediately prior to the close of business on
the Business Day on which this Warrant shall have been surrendered to the
Company as provided in Section 2.1, and at such time the Person in whose name
any certificate for Warrant Shares shall be issuable upon such exercise as
provided in Section 2.3 shall be deemed to have become the holder of record
thereof.

      2.3. DELIVERY OF STOCK CERTIFICATES, ETC. As soon as practicable after
each exercise of this Warrant, in whole or in part, and in any event within
five Business Days thereafter, the Company at its expense (including the
payment by it of any applicable issue or documentary taxes) will cause to be
issued in the name of and delivered to the holder hereof or, subject to
Section 5, as such holder (upon payment by such holder of any applicable
transfer taxes) may direct:

            (a) a certificate for the number of duly authorized, validly
            issued, fully paid and nonassessable Warrant Shares to which
            such holder shall be entitled upon such exercise PLUS, in lieu
            of any fractional share to which such holder would otherwise
            be entitled, cash in an amount equal to the same fraction of
            the Market Price per share on the Business Day immediately
            preceding the date of such exercise, or, if there is no Market
            Price, such cash as the Company may reasonably determine
            represents such fractional value; and

            (b) in case such exercise is in part only, a new Warrant of
            like tenor, dated the date hereof and calling in the aggregate
            on the face thereof for the number of shares of Common Stock
            equal (without giving effect to any adjustment thereof) to the
            number of such shares called for on the face of this Warrant
            minus the number of such shares designated by the holder upon
            such exercise as provided in Section 2.1.

      3. ADJUSTMENT OF WARRANT SHARES AND WARRANT PRICE.

      3.1. ADJUSTMENTS FOR SUBDIVISIONS, STOCK DIVIDENDS, COMBINATIONS OR
CONSOLIDATION OF COMMON STOCK. In the event the outstanding shares of Common
Stock shall be increased by way of stock issued as a dividend for no
consideration or subdivided (by stock split or otherwise) into a greater
number of shares of Common Stock, the Warrant Price then in effect shall,
concurrently with the effectiveness of such increase or subdivision, be
proportionately decreased. In the event the outstanding shares of Common
Stock shall be combined or consolidated, by reclassification or otherwise,
into a lesser number of shares of Common Stock, the Warrant Price then in
effect shall, concurrently with the effectiveness of such combination or
consolidation, be proportionately increased.

                                       4
<Page>

      3.2. SUBSEQUENT EVENTS. In the event of any recapitalization,
consolidation or merger of the Company or its successor, the Warrant shall be
exercisable for such shares or other interests as the Warrant would have
entitled the holder of the Warrant to receive if the Warrants had been
exercised for Common Stock immediately prior to such event.

      4. COVENANTS.

      4.1. NO IMPAIRMENT. The Company will not, by amendment of its
Certificate of Incorporation or through any reorganization, recapitalization,
transfer of all or a substantial portion of its 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 under this Warrant by the Company, but will
at all times in good faith assist in carrying out all the provisions of this
Warrant and in taking all such action as may be necessary or appropriate in
order to protect the rights of the holder of the Warrant against impairment.

      4.2. RESERVATION OF SHARES. So long as this Warrant shall remain
outstanding, the Company shall at all times reserve and keep available, free
from preemptive rights, out of its authorized capital stock, for the purpose
of issuance upon exercise of the Warrant, the full number of shares of Common
Stock then issuable upon exercise of the Warrant.

      4.3. VALIDITY OF SHARES. The Company will from time to time take all
such action as may be required to assure that all shares of Common Stock
which may be issued upon exercise of this Warrant will, upon issuance, be
legally and validly issued, fully paid and non-assessable and free from all
taxes, liens and charges with respect to the issuance thereof.

      5. RESTRICTIONS ON TRANSFER. Each certificate for Warrant Shares issued
      upon the exercise of any Warrant, each certificate issued upon the
      direct or indirect transfer of any Warrant Shares, this Warrant itself,
      and each Warrant issued upon direct or indirect transfer or in
      substitution for any Warrant pursuant to Section 6 shall be stamped or
      otherwise imprinted with legends in substantially the form set forth on
      the face of this Warrant. THIS WARRANT SHALL NOT BE TRANSFERRED TO ANY
      PERSON OR ENTITY OTHER THAN AN AFFILIATE OF THE INTIAL WARRANT HOLDER,
      AND ANY SUCH TRANSFEREE SHALL ALSO BE SUBJECT TO SUCH RESTRICTION.

      6. OWNERSHIP, TRANSFER AND SUBSTITUTION OF WARRANTS.

      6.1. OWNERSHIP OF WARRANTS. The Company may treat the Person in whose
name this Warrant is registered on the register kept at the office of the
Company maintained pursuant to Section 6.2(a) as the owner and holder thereof
for all purposes, notwithstanding any notice to the contrary, except that, if
and when any Warrant is properly assigned in blank, the Company may (but
shall not be obligated to) treat the bearer thereof as the owner of such
Warrant for all purposes, notwithstanding any notice to the contrary. Subject
to Section 5, a Warrant, if properly assigned, may be exercised by a new
holder without a new Warrant first having been issued.

      6.2. OFFICE; TRANSFER AND EXCHANGE OF WARRANTS.

                                       5
<Page>

            (a) The Company shall cause to be kept at its offices at the
            address first set forth above (or at such other address as may
            be specified by the Company as provided in Section 9) a register
            for the registration and transfer of the Warrant. The names and
            addresses of holders of the Warrant, any transfer thereof and
            the names and addresses of transferees of the Warrant shall be
            registered in such register. The Person in whose name any
            Warrant shall be so registered shall be deemed and treated as
            the owner and holder thereof for all purposes of this Warrant,
            and the Company shall not be affected by any notice or knowledge
            to the contrary.

            (b) Upon the surrender of any Warrant, properly endorsed, for
            registration of transfer or for exchange at the offices of the
            Company, the Company at its expense will (subject to compliance
            with Section 5, if applicable) execute and deliver to or upon
            the order of the holder thereof a new Warrant of like tenor, in
            the name of such holder or as such holder (upon payment by such
            holder of any applicable transfer taxes) may direct, calling in
            the aggregate on the face thereof for the number of shares of
            Common Stock called for on the face of the Warrant so
            surrendered.

      6.3. REPLACEMENT OF WARRANTS. Upon receipt of evidence reasonably
satisfactory to the Company of the loss, theft, destruction or mutilation of
any Warrant and, in the case of any such loss, theft or destruction of any
Warrant held by a Person other than the initial holder of the Warrant, upon
delivery of indemnity reasonably satisfactory to the Company in form and
amount or, in the case of any such mutilation, upon surrender of such Warrant
for cancellation at the offices of the Company, the Company at its expense
will execute and deliver, in lieu thereof, a new Warrant of like tenor and
dated the date hereof.

      7. NO RIGHTS OR LIABILITIES AS STOCKHOLDER. Nothing contained in this
      Warrant shall be construed as conferring upon the holder hereof any
      rights as a stockholder of the Company or as imposing any obligation on
      such holder to purchase any securities or as imposing any liabilities on
      such holder as a stockholder of the Company, whether such obligation or
      liabilities are asserted by the Company or by creditors of the Company.

      8. NOTICES. Any notice or other communication in connection with this
      Warrant shall be deemed to be delivered if in writing (or in the form of
      a telex or telecopy) addressed as hereinafter provided and if actually
      delivered at such address (evidenced in the case of a telex by receipt
      of the correct answerback): (i) if to any holder of any Warrant, at the
      registered address of such holder as set forth in the register kept at
      the office of the Company maintained pursuant to Section 6.2(a); or (ii)
      if to the Company, to the attention of its President at its offices at
      the address specified in Section 6.2(a); PROVIDED, HOWEVER, that the
      exercise of any Warrant shall be effective in the manner provided in
      Section 2.

      9. GENERAL. The section headings in this Warrant are for convenience of
      reference only and shall not constitute a part hereof. This Warrant and
      any term hereof may be changed, waived, discharged or terminated only by
      an instrument in writing signed by the party against which enforcement
      of such change, waiver, discharge or termination is sought. The
      invalidity or unenforceability of any provision hereof shall not affect
      the validity or enforceability of any

                                       6
<Page>

      other provision hereof, and any invalid or unenforceable provision shall
      be enforced to the maximum extent of its validity or enforceability.
      This Warrant shall be construed and enforced in accordance with and
      governed by the laws (other than the conflict of laws rules) of the
      Commonwealth of Massachusetts.

                                            COMBINATORX, INCORPORATED

                                            By: /s/ Alexis Borisy
                                                ------------------------
                                                Title: President and CEO

                                       7
<Page>

                             FORM OF SUBSCRIPTION

               [To be executed only upon exercise of Warrant]

TO COMBINATORX, INCORPORATED:

      The undersigned registered holder of the enclosed Warrant hereby
irrevocably exercises such Warrant for, and purchases thereunder,
(1) shares of Common Stock and herewith makes payment of $
therefor, and requests that the certificates for such shares be issued in the
name of, and delivered to           , whose address is           .

Dated:
      -------------
                              (Signature must conform in all
                              respects to name of holder as
                              specified on the face of Warrant)

                              ---------------------------------------
                              (Street Address)

                              ---------------------------------------
                              (City)    (State)    (Zip Code)

------------
      (1) Insert here the number of shares called for on the face of this
Warrant (or, in the case of a partial exercise, the portion thereof as to
which this Warrant is being exercised), in either case without making any
adjustment which, pursuant to the adjustment provisions of this Warrant, may
be delivered upon exercise. In the case of a partial exercise, a new Warrant
will be issued and delivered, representing the unexercised portion of the
Warrant, to the holder surrendering the Warrant.

                                       i
<Page>

                             FORM OF CONVERSION NOTICE

                  [To be executed only upon conversion of Warrant]

To: COMBINATORX, INCORPORATED:

      The undersigned registered holder of the enclosed Warrant hereby
irrevocably converts such Warrant with respect to            (1) shares of
Common Stock which such holder would be entitled to receive upon the exercise
hereof, and requests that the certificates for such shares be issued in the
name of, and delivered to            , whose address is            .

Dated:
      -------------
                              (Signature must conform in all
                              respects to name of holder as
                              specified on the face of Warrant)

                              ---------------------------------------
                              (Street Address)

                              ---------------------------------------
                              (City)    (State)    (Zip Code)

------------
      (1) Insert here the number of shares called for on the face of this
Warrant (or, in the case of a partial conversion, the portion thereof as to
which this Warrant is being converted), in either case without making any
adjustment which, pursuant to the adjustment provisions of this Warrant, may
be delivered upon exercise. In the case of a partial conversion, a new
Warrant will be issued and delivered, representing the unconverted portion of
the Warrant, to the holder surrendering the Warrant.

                                       i
<Page>

                             FORM OF ASSIGNMENT

              [To be executed only upon transfer of Warrant]

      For value received, the undersigned registered holder of the attached
Warrant hereby sells, assigns and transfers unto            the right
represented by such Warrant to purchase           (1) shares of Common Stock
of COMBINATORX, INCORPORATED to which such Warrant relates, and appoints
Attorney to make such transfer on the books of COMBINATORX, INCORPORATED
maintained for such purpose, with full power of substitution in the premises.

Dated:
      -------------
                              (Signature must conform in all
                              respects to name of holder as
                              specified on the face of Warrant)

                              ---------------------------------------
                              (Street Address)

                              ---------------------------------------
                              (City)    (State)    (Zip Code)

Signed in the presence of:

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

------------
      (1) Insert here the number of shares called for on the face of this
Warrant (or, in the case of a partial transfer, the portion thereof being
transferred), in either case without making any adjustment which, pursuant to
the adjustment provisions of this Warrant, may be delivered upon exercise. In
the case of a partial transfer, a new Warrant will be issued and delivered,
representing the untransferred portion of the Warrant, to the holder
surrendering the Warrant.

                                       i

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