Document:

Exhibit 10.1

AMENDMENT
TO

RESEARCH AND LICENSE AGREEMENT

This Amendment,
dated as of June 26, 2006 (the “Amendment”) between Fovea Pharmaceuticals
SA, a company organized and existing under the laws of France, with an office
at 3-5 Impasse Reille, 75014 Paris, France (“Fovea”) and CombinatoRx,
Incorporated, a company organized and existing under the laws of Delaware, with
an office at 245 First Street, Sixteenth Floor, Cambridge, MA 02142 (“CombinatoRx”)
amends the Research and License Agreement (the “Agreement”), dated as of January 30,
2006, between Fovea and CombinatoRx. Each of Fovea and CombinatoRx are
sometimes referred to herein as a “Party” and together as the “Parties.”  Unless otherwise changed by this Amendment,
capitalized terms shall have the meaning provided in the Agreement.

RECITALS

WHEREAS, under the
Agreement, Fovea was provided until June 14, 2006 to select up to ten (10) Licensed
Combinations for development under the Agreement in exchange for the payment to
CombinatoRx of $500,000 upon such selection;

WHEREAS, Fovea did
not select any Licensed Combinations or make any payments to CombinatoRx by June 14,
2006, but has sought the approval of the Joint Steering Committee to extend the
Licensed Selection Period by an additional sixty (60) days, in accordance with Section 4.2
of the Agreement;

WHEREAS, after a meeting of the Joint Steering Committee on June 26,
2006 where Fovea’s request to extend the Licensed Selection Period was
discussed, Fovea and CombinatoRx determined it would be appropriate to extend
the period for Fovea to select Licensed Combinations and for Fovea to pay
CombinatoRx $500,000 in connection with consenting to such extension.

AGREEMENT

NOW, THEREFORE, in
consideration of the mutual covenants contained in this Amendment, and other
good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Parties, intending to be legally bound, hereby agree
as follows:

ARTICLE 1

Amendments

1.1           Section 4.2
of the Agreement is amended and replaced in its entirety with the following:

“4.2         Selection. Fovea shall be entitled to select up to ten (10) Licensed
Combinations up to and until December 31, 2006 (the “Licensed Selection
Period”); provided that, Fovea may only select a Selected Licensed Combination (i) that
uses a different proposed delivery method from a Selected Collaboration
Combination or (ii) for which one of the components of the combination is
different from the components of a Selected Collaboration Combination, in
either case for the purpose of avoiding the use of a SSA Combination approved
for FOE Disease in an off-label manner for BOE Disease. For at least three (3) of
the Licensed Combinations selected by Fovea, on or before December 31,
2006, Fovea will submit Detailed Development Plans to the Joint Steering
Committee for approval, 

 

as provided in section 4.5.1 of the Agreement. If (i) Fovea does
not pay to CombinatoRx the $500,000 described in Section 5.2.1 prior to July 31,
2006, (ii) Fovea does not select any Licensed Combinations prior to the
expiration of the Licensed Selection Period or (iii) Fovea does not submit
Detailed Development Plans for at least three (3) Licensed Combinations
selected by Fovea to the Joint Steering Committee for approval prior to the end
of the Licensed Selection Period, then all license grants from CombinatoRx to
Fovea under Section 2.2.1 of this Agreement shall terminate upon July 31,
2006 in the case of clause (i), and upon the expiration of the Licensed
Selection Period in the case of clauses (ii) and (iii).”

1.2           Section 5.2.1
of the Agreement is amended and replaced in its entirety with the following:

“5.2.1      License Execution
Fee. Fovea shall pay to CombinatoRx Two Hundred Fifty Thousand Dollars
($250,000) within five (5) days after the Effective Date and Five Hundred
Thousand Dollars ($500,000) on July 31, 2006.”

ARTICLE 2

Miscellaneous

2.1           Governing Law. This Amendment shall be governed by and
construed in accordance with the laws of the State of New York in force therein without regard to its conflict of law rules or
principles.

2.2           Amendment and Waiver. The Agreement may not be modified or
amended except in a writing signed by both Parties. No provision of or right
under the Agreement shall be deemed to have been waived by any act or
acquiescence on the part of any Party, its agents or employees, but only by an
instrument in writing signed by an authorized officer of such Party. No waiver
by either Party of any breach of the Agreement by the other Party shall be
effective as to any other breach, whether of the same or any other term or
condition and whether occurring before or after the date of such waiver.

2.3           Successors and Assigns. This Amendment shall bind and inure
to the benefit of the Parties and their respective successors and permitted
assigns.

2.4           Notices. All communications under the Agreement shall be in
writing and shall be sent (a) by prepaid registered or certified mail,
return receipt requested, (b) by overnight express delivery service by a
nationally recognized courier, or (c) via confirmed facsimile or telecopy,
followed within five (5) days by a copy mailed in the preceding manner,
addressed to the other party at the address shown below or at such other
address for which such party gives notice hereunder. Such notice will be deemed
to have been given when delivered or, if delivery is not accomplished by some
fault of the addressee, when tendered.

 

 

	
  If to CombinatoRx:

  	
   

  	
  CombinatoRx, Incorporated

  
	
   

  	
   

  	
  245 First Street

  
	
   

  	
   

  	
  Sixteenth Floor

  
	
   

  	
   

  	
  Cambridge, MA 02142

  
	
   

  	
   

  	
  Attention: SVP, Commercial Operations

  
	
   

  	
   

  	
   

  
	
  With a copy to:

  	
   

  	
  Ropes & Gray LLP

  
	
   

  	
   

  	
  One International Place

  
	
   

  	
   

  	
  Boston, MA 02110

  
	
   

  	
   

  	
  Attention: Marc A. Rubenstein, Esq.

  
	
   

  	
   

  	
   

  
	
  If to Fovea:

  	
   

  	
  Fovea Pharmaceuticals SA

  
	
   

  	
   

  	
  3-5 Impasse Reille

  
	
   

  	
   

  	
  75014 Paris-France

  
	
   

  	
   

  	
  Attention: Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
  With a copy to:

  	
   

  	
  Cabinet Barny

  
	
   

  	
   

  	
  15 Boulevard Clemenceau

  
	
   

  	
   

  	
  67000 Strasbourg-France

  
	
   

  	
   

  	
  Attention: Luc Barny

  

 

2.5           Captions. Captions of the Sections and subsections of this Amendment
are for reference purposes only and do not constitute terms or conditions of
this Agreement and shall not limit or affect the terms and conditions hereof,

2.6           Entire Agreement. This Amendment and the Agreement contain
the entire understanding of the Parties with respect to the transactions and
matters contemplated hereby, including without limitation any licensing of the
licensed technology, supersedes all prior agreements and understandings
relating to the subject matter hereof, and no representations, inducements,
promises or agreements relating to the subject matter hereof, whether oral or
otherwise, between the Parties not contained herein or incorporated herein by
reference shall be of any force or affect.

2.7           Rules of Construction. The Parties agree that they have
participated equally in the formation of this Amendment and that the language
and terms of this Amendment shall not be presumptively construed against any of
them.

2.8           Counterparts. This Amendment may be executed in multiple
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument. Facsimile signatures of
the Parties will have the same effect as original signatures. In making proof
of this Amendment, it shall not be necessary to produce or account for more
than one such counterpart.

[The remainder of this page is
intentionally left blank.]

 

IN WITNESS WHEREOF, each
of the Parties hereto has caused its corporate seal to be affixed and this
Agreement to be signed by its authorized representatives as of the date first
indicated above.

 

	
  FOVEA PHARMACEUTICALS, SA

  	
   

  	
  COMBINATORX, INCORPORATED

  
	
  /s/ Bernard
  Gilly

  	
   

  	
  /s/ Daniel Grau

  
	
  Signature

  	
   

  	
  Signature

  
	
  Name:

  	
   

  	
  Bernard Gilly

  	
   

  	
  Name:

  	
   

  	
  Daniel Grau

  
	
  Title:

  	
   

  	
  Chief Executive Officer

  	
   

  	
  Title:

  	
   

  	
  Senior Vice President, Commercial OperationsExhibit 10.2

CombinatoRx, Incorporated

Mr. Robert
Forrester

Chief Financial Officer

CombinatoRx, Incorporated

650 Albany Street

Boston, MA 02118

Dear
Mr. Forrester:

Pursuant
to your request, General Electric Capital Corporation (“GE Capital”) is pleased
to submit the following revised loan proposal for your consideration:

	
  Transaction:

  	
   

  	
  Loan

  
	
   

  	
   

  	
   

  
	
  Borrower:

  	
   

  	
  CombinatoRx, Incorporated

  
	
   

  	
   

  	
   

  
	
  Lender:

  	
   

  	
  General Electric Capital Corporation its
  affiliates or its assignee

  (“GE Capital”)

  
	
   

  	
   

  	
   

  
	
  Loan Amount:

  	
   

  	
  $3,310,000.00

  
	
   

  	
   

  	
   

  
	
  Anticipated Funding Period:

  	
   

  	
  March 2006 through March 2007

  
	
   

  	
   

  	
   

  
	
  Term:

  	
   

  	
  48 months – new lab and scientific equipment

  38 months – all other equipment

  
	
   

  	
   

  	
   

  
	
  Payment Factor and Interval
  (all arrears):

  	
   

  	
  48 months: 2.542024%, monthly

  36 months: 3.232354%, monthly

  
	
   

  	
   

  	
   

  
	
  Interest Rate:

  	
   

  	
  48 months: 10.12%

  36 months: 10.12%

  
	
   

  	
   

  	
   

  
	
  Equipment (Collateral):

  	
   

  	
  New lab and lab support equipment (22%), computer
  hardware (22%), general office equipment and furniture (23%), tenant
  improvements (30%) and software (3%) for the internal use of the Borrower.
  All such Equipment must be acceptable to GE Capital and located within the
  continental United States at Borrower owned or leased properties.

  
	
   

  	
   

  	
   

  
	
  Other Consideration:

  

  

  	
   

  	
  All other terms and conditions that presently exists
  shall continue to apply.

  

GENERAL TERMS AND
CONDITIONS

Our proposal contains the following provisions and
the Loan Payments we propose are specifically based upon these provisions and
our assumptions.

1.      MAINTENANCE AND INSURANCE: All
maintenance and insurance (fire and theft, extended coverage and liability are
the responsibility of the Borrower. Borrower will be responsible for maintaining
in force, all risk damage, and liability insurance in amounts and coverages
satisfactory to GE Capital.

2.      DOCUMENTATION: GE Capital’s current
standard loan documentation for this type of collateralized loan will be used.

3.      INDEXING: The interest Rate(s) and
Payment Factor(s) will be adjusted at the time of funding to reflect any
increase in the Lender’s cost of funds, which shall be tied to the Federal
Reserve’s three (3) and average four (4) year Treasury Constant
Maturities Rate(s). The rate(s), and therefore the payment factor(s), assume an
index of 4.62% and 4.62% respectively.

	
  CONFIDENTIAL

  	
   

  
	
  GE Capital Corporation

  	
   

  
	
  LifeScience and Technology Finance

  	
  3/21/2006

  

 

4.      TRANSACTION COSTS: The Borrower
shall be responsible for all closing and transaction costs including any legal
fees and inspection and/or appraisals costs.

5.      PROPOSAL FEE: $16,550.00, which
shall be retained by GE Capital for application processing underwriting and
documentation. All or a portion of the proposal fee will be forfeited if this
transaction is approved by GE capital and not executed by Borrower as called
for in this proposal. If investment approval is not obtained, the fee will be
promptly returned to Borrower (less the cost of credit verification and
investigation and any out of pocket expenses incurred such as appraisal fees,
legal fees, etc.).

6.      ACCEPTANCE: By signing below, the
Borrower acknowledges the terms and conditions of this proposal. Upon receipt
of the executed proposal letter and accompanying fee, GE Capital shall commence
its investment approval process.

7.      EXPIRATION: This proposal shall
expire on April 3, 2006, if GE Capital has not received your acceptance
hereof by such date.

This
proposal expresses GE Capital’s willingness to seek internal approval for the
transaction contemplated herein. By signing and returning this letter both
parties acknowledge that: The above proposed terms and conditions do not
constitute a commitment by GE Capital, (ii) GE Capital’s senior management
may seek changes to the above terms and conditions, and (iii) GE Capital
may decline further consideration of this transaction at any point in the
approval process. GE Capital’s agreement to fund the proposed transaction
remains subject to and would be preceded by completion of a legal and business
due diligence, as well as collateral and credit review and analysis, all with
results satisfactory to GE Capital and the closing of an initial funding under
such transaction would be conditioned upon the prior execution and delivery of
final legal documentation and all conditions precedent acceptable to GE Capital
and its counsel and no material adverse change in the business condition or
prospects of the Company (“Material Adverse Change”). For transactions that
contemplate more than one funding, GE Capital’s obligation to make each such
subsequent funding would be subject to confirmation that no Material Adverse
Change has occurred.

I
look forward to your early review and response. If there are any questions, I
would appreciate the opportunity to discuss this proposal in more detail at
your earliest convenience. Please do not hesitate to contact me directly at
(203)-205-5216.

Sincerely,

/s/
William B. Stichle

PROPOSAL
ACCEPTED BY:

CombinatoRx,
Incorporated

	
  Name:

  	
   

  	
  /s/ R. Forrester

  	
   

  	
   

  
	
  Title:

  	
   

  	
  CFO

  	
   

  	
   

  
	
  Date:

  	
   

  	
  4/19/06

  	
   

  	
   

  

 

Federal
Tax ID#:

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