Document:

<PAGE>

                                                                    EXHIBIT 10.4

                                    LICENSING
                                    AGREEMENT

                                       FOR

                                EO-9 AND ANALOGS

             This Agreement is made by and between the undersigned:

                              NeoTherapeutics, Inc.
                              157, Technology Drive
                                Irvine, CA 92618
                                       USA

                                       and

                            NDDO Research Foundation
                               Amstelveenseweg 641
                                1081 JD Amsterdam
                                 The Netherlands

                                                                     Page 1 of 8
<PAGE>

This Agreement to License is made the 29th of June 2001 between

UNDERSIGNED

The "Stichting" NDDO Research Foundation, formerly "The Stichting New Drug
Development Office", having its principal office at Amstelveenseweg 641, 1081 JD
Amsterdam, The Netherlands, hereinafter referred to as NDDO, a foundation for
the development of new anti-cancer agents, organized and existing under the laws
of The Netherlands, acting in its own capacity, and legally represented by its
chairman, Mr. R.J. Vles

AND

The Faculty of Science of the University of Amsterdam, formerly the the Faculty
of Chemistry, having its residence at Kruislaan 404, 1098 SM Amsterdam, The
Netherlands, legally represented in this matter by Prof. W. Hoogland, Dean of
the Faculty of Science, who was granted power of representation by the
University's Executive Board, hereinafter referred to as the UNIVERSITY

AND

New Chemical Entities Limited, hereinafter referred to as NCE, formerly ITI,
having its office at Starboard, Longpark, East Portlemouth, Salcombe TQ8 8PA,
England, represented by the Directors Prof. R.K. Rondel and Mr. M. Ilsley

AND

Dr. E.A. Oostveen, one of the inventors of the compounds covered by the patents
hereinafter defined having his residence at Van Broeckhuysenstraat 25, 6721 TC
Bennekom, The Netherlands, hereinafter referred to as the INVENTOR

AND

NeoTherapeutics Inc., having its place of business at 157 Technology Drive,
Irvine, CA 92618, USA, along with its subsidiary NeoOncoRx, Inc., and
hereinafter referred to as the COMPANY,

CONSIDERING

1.     That research undertaken in the Department of Organic Chemistry of the
       UNIVERSITY during the period 1982-1989 under the responsibility of Prof.
       Dr. W.N. Speckamp has resulted in synthesizing a series of compounds
       known as Indoloquinones which hereinafter the compounds and products
       derived from the compounds are referred to as the COMPOUNDS

2.     That the antitumor activity of the COMPOUNDS has been evaluated by cancer
       research institutes in Europe and the USA under the auspices of NDDO, and
       much of this research was paid for by NDDO

                                                                     Page 2 of 8
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3.     That the COMPOUNDS are covered by the following PATENTS filed in the name
       of the UNIVERSITY, mentioning Prof. Dr. W.N. Speckamp and Dr. E.A.
       Oostveen as inventors and owned by NDDO, UNIVERSITY, NCE, and INVENTOR:

<TABLE>
<CAPTION>
        COUNTRY/TERRITORY                     PATENT NUMBER
        -----------------                     -------------
<S>                                           <C>
        Australia                             615877
        Denmark                               171079
        Europe                                0302874
        Japan                                 2120020
        U.S.A.                                5079257
</TABLE>

4.     That the development and exploitation of the COMPOUNDS and PATENTS are
       subject to agreements between NDDO, UNIVERSITY, NCE and INVENTOR dated
       April 9, 1998 / April 21, 1998 / April 29, 1998 / June 10, 1998, which
       agreement makes up Exhibit A of this Agreement. This Agreement replaced
       the Agreement attached to the letter of "Ekelmans Den Hollander" to the
       Technology Transfer Point of the University of Amsterdam, dated June 21,
       1990, made by and between the UNIVERSITY, NDDO, and NCE, which replaced
       the agreement between the UNIVERSITY and ITI laid down in the letter of
       authority dated 29 July 1984/8 August 1984/20 August 1984.

5.     As set out in the co-operation agreement between NDDO, UNIVERSITY, NCE
       and INVENTOR dated April 9, 1998 / April 21, 1998 / April 29, 1998 / June
       10, 1998, NDDO and NCE are exclusively authorized to act on behalf of the
       UNIVERSITY and the INVENTOR in matters detailed below. In such matters
       NDDO will be representing all parties and NDDO will be the entity to be
       notified by COMPANY.

ARE AGREED AS FOLLOWS

6.     All information whatsoever known now and after the signing of this
       Agreement concerning the COMPOUNDS and their related compounds which are
       the subject of PATENTS detailed in the foregoing paragraph 3 shall be
       freely exchanged between and used by the UNIVERSITY and the NDDO and the
       COMPANY and not released to third parties unless prior agreement has been
       given in writing by NDDO to the COMPANY

7.     The NDDO and NCE grants the COMPANY the right to a sole and exclusive
       License to sell compounds derived from the COMPOUNDS to all markets in
       the World, hereinafter called the MARKET

8.     The COMPANY shall pay to NDDO the sum of one hundred thousand U.S.
       Dollars and transfer ownership of thirty thousand shares of the COMPANY
       for an exclusive World-wide License to market the COMPOUNDS and payment
       of such sum and transfer of ownership in the shares to be made on signing
       this agreement; the COMPANY further undertakes to pay for all subsequent
       costs of progressing the PATENTS and developing the COMPOUNDS for sale in
       the MARKET

9.     The shares in the COMPANY are quoted as NASDAQ:NEOT and may not be sold
       until one year has elapsed from the date of signing this contract but if
       at one year from the date of signing this contract their value is less
       than $100,000 the COMPANY will pay the NDDO such

                                                                     Page 3 of 8
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       sum in cash, COMPANY stock, or other negotiable security as will bring
       their value up to $100,000

                                                                     Page 4 of 8
<PAGE>

10.    Upon filing a New Drug Application in the U.S.A., Australia or Japan or
       equivalent application showing proof of efficacy and safety in a major
       European market (Germany, United kingdom, France, Italy, Spain) the
       COMPANY will pay US $200,000 to NDDO

11.    Within one month of the date of approval for marketing the COMPOUND by
       the relevant regulatory authorities in the U.S.A., Japan, Australia or
       the first European country were the product obtains approval, the COMPANY
       will pay NDDO $600,000

12.    The COMPANY shall every three months pay to NDDO a Royalty of 5 percent
       of the value on net sales, (being the total revenues generated by
       NeoTherapeutics or its subsidiaries by the sale of the compounds derived
       from the COMPOUNDS, minus taxes, tariffs and shipping) of the COMPOUND in
       the MARKET during the proceeding three months and send a copy of the
       computation to NDDO and to NCE; annually the COMPANY shall send a
       computation of the previous twelve months Sales and Royalties certified
       correct by its external Public Accountants. This Article survives the end
       of the Agreement as laid down in Article 23.2.

13.    NDDO will provide the COMPANY on the date of this contract with a copy of
       all data on the COMPOUNDS and will make all clinical supplies and
       penultimate drug substances of the COMPOUNDS available to COMPANY. For
       the purposes set out below in Articles 14-17, NDDO, UNIVERSITY, NCE and
       INVENTOR are allowed to dispose such supplies and substances as well. The
       parties are under the obligation to reach an agreement with respect
       thereto, before said supplies and substances are made available to
       COMPANY.

14.    The NDDO and NCE and the COMPANY and their respective Agents shall work
       together throughout the development of the COMPOUNDS and thereafter to
       facilitate approval by the relevant regulatory authorities in the MARKET
       and shall where appropriate negotiate fees to be paid to the UNIVERSITY
       or the NDDO or other parties when they undertake inter alia the following

       14.1   experimental and clinical trials work to be undertaken during the
              continuing development of the compounds

       14.2   application and negotiations for clinical trials certificates

       14.3   preparation of international registration dossiers

       14.4   negotiation of drug registrations

       14.5   such other work as shall be agreed between the Parties

15.    The COMPANY shall use commercially reasonable efforts in conjunction with
       the UNIVERSITY and NDDO to expeditiously undertake development work on
       the COMPOUNDS aiming to launch marketable product or products in as many
       Countries in the MARKET as soon as is reasonably possible, ensuring that
       the names of the INVENTORS are mentioned in all publications and patent
       applications based on their work.

16.    The COMPANY shall have first right of refusal to license any new
       derivatives of the COMPOUNDS including, but not limited to pharmaceutical
       compositions, COMPOUND analogues and methods of using same independently
       developed by the UNIVERSITY or the NDDO. Moreover, COMPANY shall have the
       right to file for patents on any derivatives of the COMPOUNDS including,
       but not limited to pharmaceutical preparations, COMPOUND analogous and
       methods of using same, that are developed independently by the COMPANY.
       However, the COMPANY agrees to grant to the UNIVERSITY and NDDO a royalty
       free, paid

                                                                     Page 5 of 8
<PAGE>

       up in full, non-exclusive research only license on any COMPOUND related
       technology it independently develops and patents. Furthermore, the
       COMPANY shall have first right of refusal to license any new derivatives
       of the COMPOUNDS including, but not limited to pharmaceutical
       compositions, COMPOUND analogues and methods of using same jointly
       developed by the COMPANY and the UNIVERSITY and/or the NDDO. The COMPANY
       also expressly reserves the right of first refusal to prosecute patents
       for any new derivatives of the COMPOUNDS including, but not limited to
       pharmaceutical compositions, COMPOUND analogues and methods of using same
       independently developed by the UNIVERSITY or the NDDO should they chose
       not to, and to prosecute patents on any joint inventions.

17.    The UNIVERSITY and the INVENTORS and the NDDO are entitled to publish the
       results arising from their work on the COMPOUNDS; A draft copy will be
       sent to the COMPANY to identify possible patentable subject matters or
       proprietary information. COMPANY may amend the copy or postpone
       publication, by means of a written notification to NDDO, UNIVERSITY
       and/or INVENTOR, (with a maximum of one year after the date notification)
       until all confidential information is deleted from the manuscript and /
       or until a patent application, as specified in Article 16, covering the
       subject matter disclosed in the submission is filed.

18.    This Agreement is entered into in good faith and nothing in the foregoing
       implies or is intended to imply that UNIVERSITY or INVENTOR or NDDO or
       NCE warrant that COMPOUNDS have or will have ultimate therapeutic utility
       in humans or animals. If on the other hand the marketable product derived
       from the COMPOUNDS to be sold by COMPANY may cause any damage to humans
       or animals, COMPANY shall indemnify UNIVERSITY, INVENTOR, NDDO and NCE
       against any liability arising therefrom.

19.    The COMPANY and the UNIVERSITY and the INVENTOR and NDDO and NCE shall
       each at all times use reasonable efforts to give credit for the work
       undertaken by the other Party and uphold the good reputation of the other
       Party

20.    The COMPANY is responsible for the maintenance of the rights into the
       PATENTS by paying the fees due in respect thereof. For that purpose, NDDO
       will forward the fee notes concerned to the COMPANY. Copies of such fee
       notes shall be returned to NDDO by COMPANY, mentioning SETTLED ON [DATE].
       Consequently, the risk of lapse of rights into the PATENTS shall be born
       by COMPANY subject to COMPANY having received adequate and timely
       pre-notification. UNIVERSITY/NDDO/NCE/INVENTOR shall grant authority to
       COMPANY to pursue infringement of the PATENTS, on the basis of which
       authority to COMPANY shall vigorously pursue infringements of the
       PATENTS. UNIVERSITY/NDDO/NCE/INVENTOR shall grant COMPANY the authority
       to file new patent applications with respect to the marketable products
       derived from the COMPOUNDS. UNIVERSITY/NDDO/NCE/INVENTOR shall provide
       COMPANY with all necessary co-operation with respect to such patent
       applications, submitted to the restrictions set out in Article 16.

21.    The COMPANY shall, at its own expense, defend and if found guilty, accept
       liability for claims by third parties for infringements of patents owned
       by third parties and/or, for Product liability

22.    COMPANY has the right to sublicense the COMPOUNDS in all MARKETS. The
       COMPANY retains the responsibility to ensure that sub-licensee fulfils
       the obligations of this Agreement. Except as provided for herein, COMPANY
       shall not assign any of its rights or obligations under the terms of this
       Agreement, nor shall it grant any sub-licenses with respect to the

                                                                     Page 6 of 8
<PAGE>

       COMPOUNDS without prior written approval of UNIVERSITY/NDDO/NCE/INVENTOR,
       such written approval will not be unreasonable withheld. NDDO agrees to
       respond to such requests within 30 days. However, should such assignment
       of rights or obligations of this Agreement, and/or sub-license thereof,
       be coincident to the sale of the COMPANY, or should said assignment of
       rights or obligations of this Agreement, and/or sub-license thereof be to
       a wholly owned subsidiary of the COMPANY, written approval of
       UNIVERSITY/NDDO/NCE/INVENTOR shall not be required.

23.    Term and Termination

       23.1   Unless otherwise terminated under provisions of Article 23.2, this
              Agreement and the license granted under Article 7 shall continue
              until such time as all Patents have Expired, at which time the
              exclusive license rights of the COMPANY set forth in Article 7
              shall be deemed to be converted into a fully paid, exclusive,
              worldwide, irrevocable, sublicensable license of the COMPOUNDS to
              make, have made, use, sell, offer to sell, import and have sold
              products incorporating or utilizing, practice methods covered
              thereby, and otherwise to commercialize and exploit, the
              COMPOUNDS.

              Furthermore, in consideration for continued technical support and
              know how, COMPANY agrees to pay NDDO a royalty of 2.5% on net
              sales as defined in section 12 after the expiration of the last
              PATENT covered by this license. However, COMPANY's obligations
              under this section and section 12 of this LICENSE AGREEMENT will
              cease no later than the earliest of: 1) five (5) years after the
              last PATENT expires, or 2) the sale of any generic form of the
              COMPOUNDS by a third party after the last PATENT expires.

       23.2   The COMPANY may terminate this Agreement, at their option and
              without prejudice to any of its other legal and equitable rights
              and remedies, by giving the UNIVERSITY/NDDO/NCE/INVENTOR notice
              in writing at least three (3) months in advance of the effective
              date of such termination.

       23.3   Should the COMPANY terminate this Agreement without cause, the
              provisions of Articles 6, 9, 12, and 17 shall remain in force
              until all obligations under the aforementioned Articles have been
              fulfilled.

       23.4   Upon termination of this Agreement, each party will within thirty
              (30) days return to the other all tangible Confidential
              Information and Property of the other party (except one copy which
              may be retained by legal counsel solely for evidentiary purposes
              in the event of a dispute), and each party will deliver to the
              other a copy of any documentation in its possession or control
              specifically relating to the Joint Inventions.

24.    COMPANY, NDDO, NCE, UNIVERSITY and INVENTOR shall be excused from
       performance under this Agreement for any period and to the extent that it
       is prevented from performing any Services pursuant to this Agreement, in
       whole or in part, as a result of any event of force majeure, including an
       act of God, war, civil disturbance, court order, labour disputes, or
       other cause beyond its reasonable control, and such non-conformance shall
       not be a default hereunder or a ground for termination of this Agreement
       as otherwise provided herein.

                                                                     Page 7 of 8
<PAGE>

25.    This Agreement (including any Attachments hereto) constitutes the entire
       Agreement between COMPANY, NDDO, NCE, UNIVERSITY and INVENTOR and
       supersedes all prior oral or written agreements or understandings with
       respect to this Agreement. This Agreement may not be waived, amended,
       modified or cancelled except by a written instrument executed by one of
       the Parties against whom such waiver, amendment, modification or
       cancellation is sought to be enforced. This agreement shall be governed
       by and construed in accordance with the law of The Netherlands. Any
       disputes arising out or in connection with this agreement of the
       performance there of shall be submitted to the Amsterdam court, which
       shall have exclusive jurisdiction.

Waiver by either Party or the failure by either Party to claim a breach of any
provision of this Agreement or exercise any right or remedy provided by this
Agreement or applicable law, shall not be deemed to constitute a waiver with
respect to any subsequent breach of any provision hereof. The terms and
provisions hereof shall bind and inure to the benefits of PARTIES and their
respective successors and permitted assigns.

UNDERSIGNED

NDDO Research Foundation                     The University of Amsterdam

/s/R. J. Vles                                /s/Walter Hoogland
By: R.J. Vles,                               By: Prof. W. Hoogland
Title: Chairman                              Title: Dean, Faculty of Science
Date: July 3, 2001                           Date: July 6, 2001

New Chemical Entities Limited                Inventor

/s/Martin Ilsley                             /s/ E. A. Ostveen
By: Martin Ilsley                            By: Dr. E.A. Oostveen, Ph.D.
Title: Director                              Title: Inventor
Date: July 11, 2001                          Date: July 5, 2001

Company

/s/Alvin J. Glasky
By: Dr. A.J. Glasky, Ph.D.
Title: Chairman, Chief Executive Officer & Chief Scientific Officer
Date: July 17, 2001

                                                                     Page 8 of 8<PAGE>

                                                                    EXHIBIT 10.5

                                                                        JM 1899A

                              DATED AUGUST 28, 2001

                               JOHNSON MATTHEY PLC

                                       AND

                              NEOTHERAPEUTICS, INC.

                                     LICENCE

                               JOHNSON MATTHEY PLC
                               2-4 COCKSPUR STREET
                                TRAFALGAR SQUARE
                                 LONDON SW1Y 5BR

                                                                        JM 1899A

<PAGE>

                                     LICENCE

Date: AUGUST 28, 2001

PARTIES:

1.     The LICENSOR: Johnson Matthey PLC, a company organised under the laws of
       England and Wales whose registered office is at 2-4 Cockspur Street,
       Trafalgar Square, London, SW1Y 5BQ, England, acting for itself and for
       its AFFILIATES including particularly Johnson Matthey, Inc

2.     The LICENSEE: NeoTherapeutics, Inc., a corporation organised under the
       laws of the State of California, United States of America whose principal
       place of business is at 157 Technology Drive, Irvine, California 92618,
       United States of America, acting for itself and for its AFFILIATES

RECITALS:

(A)    The LICENSOR has developed and is the beneficial owner of a substantial
       body of valuable technical information relating to the use of the
       platinum complex JM216 in the treatment of tumour cells, toxicity data
       and other valuable information and is the beneficial owner of the Patent
       Rights relating thereto as defined hereinafter

(B)    The LICENSEE wishes to receive and the LICENSOR is willing to grant a
       licence on the terms and conditions hereinafter set forth to use such
       information and to work under the said Patent Rights for the purposes
       hereinafter provided

(C)    The parties have executed a Secrecy Agreement dated 13th March, 2001, and
       the LICENSOR has provided or arranged the provision of certain of
       LICENSOR'S INFORMATION to LICENSEE under said Secrecy Agreement

ARTICLE I DEFINITIONS

In this Agreement the following terms shall have the following meanings unless
the context otherwise requires:

<PAGE>

1.     AFFILIATE: a subsidiary company within the meaning of S.736 of the United
       Kingdom Companies Act 1985.

2.     EFFECTIVE DATE: the date upon which this Agreement has been executed by
       representatives of LICENSOR and LICENSEE.

3.     FIELD: the use of the PRODUCTS for the purpose of treating cancer in
       humans and the sale of the PRODUCTS for such purpose.

4.     GENERIC PRODUCT: a PRODUCT marketed by a THIRD PARTY in a country
       comprising the TERRITORY.

5.     IMPROVEMENTS: any new or useful invention, process or improvement,
       patentable or unpatentable, relating to or arising under the PATENT
       RIGHTS, conceived or first reduced to practice or demonstrated to have
       utility by LICENSEE, LICENSOR, or LICENSEE AND LICENSOR jointly, during
       the TERM.

6.     JM216: the platinum complex
       bis(acetato)amminedichloro(cyclohexyl-amine)platinum(IV)

7.     LICENSOR'S INFORMATION: information, data, research results and clinical
       evaluation results relating to PLATINUM COMPLEXES and in the lawful
       possession of LICENSOR at the EFFECTIVE DATE (as described in Article
       II.1).

8.     LICENSOR'S ONGOING INFORMATION: information, data, research results, as
       well as inventions made by LICENSOR subject to the PATENT RIGHTS, all
       coming into the lawful possession of LICENSOR during the TERM.

9.     LICENSEE'S ONGOING INFORMATION: information, data, research results,
       clinical evaluation results, approval trials data and results as well as
       all approvals obtained by LICENSEE during the TERM and relating to the
       PLATINUM COMPLEXES.

10.    NET SALES VALUE: the invoiced sales price of the PRODUCTS in an arm's
       length transaction exclusively for money after deduction of normal trade

                                       3
<PAGE>

       discounts actually granted and of any credits actually given by the
       LICENSEE for returned or defective goods and excluding or making proper
       deductions for any costs of packing, insurance, carriage and freight and
       Value Added Tax or other sales tax and, in the case of export orders, any
       import duties or similar applicable governmental levies or export
       insurance costs expressly subject in all cases to the same being
       separately charged on customer invoices. In any sale or other disposal of
       any PRODUCTS otherwise than in an arm's length transaction exclusively
       for money, the fair market price (if higher) in the relevant country of
       disposal shall be substituted for the Net Sales Value

11.    MILESTONES : the objectives described in Article IV hereof

12.    ONGOING INFORMATION: together the LICENSOR'S ONGOING INFORMATION and the
       LICENSEE'S ONGOING INFORMATION.

13.    PATENT RIGHTS:

       (i)    the patents and applications short particulars whereof are set out
              in Schedule A hereto, as well as any continuation,
              continuations-in-part and divisional applications, including
              reissues and reexamination applications and patent term extension
              and reexamination certificates issuing to LICENSOR;

       (ii)   all patent applications that may hereafter be filed by or on
              behalf of the LICENSOR which either are based on or claim priority
              from any of the foregoing patents and applications or which are in
              respect of any IMPROVEMENTS to which LICENSOR is exclusively
              entitled; and

       (iii)  all patents which may be granted pursuant to any of the foregoing
              patent applications.

14.    PLATINUM COMPLEXES; the platinum co-ordination compounds that are the
       subject of the PATENT RIGHTS.

15.    PRODUCTS: PLATINUM COMPLEXES formulated for administration to patients.

                                       4
<PAGE>

16.    TERM: the term commencing on the EFFECTIVE DATE and terminating three (3)
       years following the expiry of the last to expire of the patents granted
       in the United States of America or any of the countries currently
       comprising the European Union which have expiration dates specified on
       Schedule A. The date of expiration of a patent described in this Section
       shall include any extension granted to LICENSOR by virtue of any
       continuation, continuations-in-part and divisional applications,
       including reissues and reexamination applications and patent term
       extension and reexamination certificates issuing to LICENSOR.

17.    TERRITORY: Each country of the world.

18.    THIRD PARTY: any person or entity other than the LICENSOR and its
       AFFILIATES and the LICENSEE and its AFFILIATES.

ARTICLE II GRANT OF RIGHTS

1.     Subject to Article II.3 below, the LICENSOR agrees to grant and hereby
       grants to the LICENSEE an exclusive worldwide royalty-bearing revocable
       right and licence under the PATENT RIGHTS, with rights to sub-license, to
       use the PLATINUM COMPLEXES, the LICENSOR'S INFORMATION and the LICENSOR'S
       ONGOING INFORMATION to make, have made, use, offer to sell, and have sold
       PRODUCTS for use within the FIELD.

2.     The LICENSEE shall be entitled to sub-license any THIRD PARTY under the
       rights granted under Article II.1 hereof provided that: (i) the LICENSEE
       shall remain responsible for all acts and omissions of such sub-licensees
       as though they were by the LICENSEE; and (ii) the sub-license agreement
       shall be in the form to be attached to this Agreement as Exhibit 1. In
       particular, the LICENSEE shall be responsible to the LICENSOR for
       payments due in respect of sales by sub-licensees as though they were
       sales by the LICENSEE. The parties shall use their best endeavours to
       draft, negotiate and finalize the form sub-license agreement within 15
       (fifteen) days of the EFFECTIVE DATE, which form sub-license agreement
       shall provide that upon termination of this Agreement, any sub-licensee
       shall attorn to and accept the LICENSOR

                                       5
<PAGE>

       in the place of the LICENSEE such that any sub-license shall be deemed an
       agreement between the LICENSOR and sub-licensee.

3.     For the avoidance of doubt, it is hereby declared that the LICENSEE shall
       have no right hereunder to manufacture the PLATINUM COMPLEXES except in
       the circumstances of Article VI.2, nor to use or sell them otherwise than
       for use within the FIELD and, without prejudice to the foregoing, the
       LICENSEE accepts that the licence hereby granted does not include the
       right to manufacture the PLATINUM COMPLEXES other than in the
       circumstances set forth in Article VI.2, or in accordance with the supply
       agreement between the LICENSOR and LICENSEE.

ARTICLE III ONGOING RESEARCH AND DEVELOPMENT

1.     The LICENSEE shall diligently perform research and development on the use
       of JM 216 and other PLATINUM COMPLEXES within the FIELD and on the
       formulation of PRODUCTS. The LICENSEE shall exercise in the performance
       of such research and development technical skill and competence of a high
       calibre.

2.     Throughout the TERM of this Agreement, the LICENSOR shall promptly
       disclose to the LICENSEE all LICENSOR'S ONGOING INFORMATION developed or
       acquired by LICENSOR except insofar as such disclosure would disclose
       information derived from and subject to confidentiality obligations in
       favour of a THIRD PARTY. Solely for the purposes set forth in Article
       VI.2, LICENSEE shall also promptly disclose to LICENSOR any LICENSEE
       ONGOING INFORMATION necessary for LICENSOR to perform its obligations set
       forth in Article VI.2.

                                       6
<PAGE>

ARTICLE IV MILESTONES

1.     The LICENSEE shall use its best efforts to test, evaluate and develop
       PRODUCTS so as to meet the objectives detailed hereunder within ninety
       (90) days of the target date specified for each such objective:

<TABLE>
<CAPTION>
Objective                                                         Target Date
---------                                                         -----------
<S>                                                             <C>
1      Submission of NDA in the United States
       of America
       (hereinafter called `a First MILESTONE')                 1st January 2004

2      Receipt of US FDA approval of NDA
       (hereinafter called `a Second MILESTONE')                1st January 2005

3      Approval in the first European Union state
       of a new drug application
       (hereinafter called `a Third MILESTONE')                 1st January 2006

4      Approval by US FDA of JM216 for the first
       indication other than the indication approved
       in Objective 2.
       (hereinafter called `a Fourth MILESTONE')                1st January 2007

5      Approval in the first European Union state of JM216
       for the first indication other than the indication
       approved in Objective 3.
       (hereinafter called a `Fifth MILESTONE')                 1st January 2008
</TABLE>

ARTICLE V PAYMENT

1.     Upon the EFFECTIVE DATE the LICENSEE shall pay to the LICENSOR the
       initial sum of US$100,000 (one hundred thousand);

2.     Upon the earlier of: (i) execution by LICENSOR of the supply agreement
       described in Article V; or (ii) January 31, 2002, the LICENSEE shall pay
       to the LICENSOR the sum of US$150,000 (one hundred and fifty thousand).

3.     Within 30 (thirty) days of the date of the attainment of each MILESTONE
       the LICENSEE shall pay to the LICENSOR the following sums:

       (i)    the First MILESTONE: US$750,000 (seven hundred and fifty thousand)

                                       7
<PAGE>

       (ii)   the Second MILESTONE:     US$3,000,000 (three million)

       (iii)  the Third MILESTONE:      US$1,000,000 (one million)

       (iv)   the Fourth MILESTONE:     US$1,000,000 (one million)

       (v)    the Fifth MILESTONE:      US$1,000,000 (one million)

4.     The LICENSEE shall during the TERM of this Agreement pay to the LICENSOR
       a royalty calculated at the rate of 8.5% of the NET SALES VALUE of all
       PRODUCTS sold or otherwise supplied for use whether within the FIELD or
       outside the FIELD for money or money's worth by LICENSEE or any AFFILIATE
       or sublicensee thereof; provided, however, that in any country in the
       TERRITORY where a GENERIC PRODUCT is sold in competition with the
       PRODUCT, the royalty payable to LICENSOR with respect to NET SALES of
       such PRODUCTS in such country shall be reduced to 0%, commencing with the
       calendar quarter during which any such GENERIC PRODUCT first becomes
       available in competition with the PRODUCT in such country.

5.     Payments due under Article V.4 shall be made within 30 days of the end of
       each calendar quarter in respect of royalties accruing on PRODUCTS
       invoiced in that calendar quarter.

6.     All sums due to be paid to the LICENSOR under this Agreement:

       5.1    are exclusive of any Value Added, Sales, or any other tax which
              shall be payable in addition;

       5.2    shall be made in United States dollars to the credit of one or
              more bank accounts to be designated from time to time in writing
              by the LICENSOR. Conversion into United States dollars shall be
              calculated where appropriate;

       5.3    in the case of each sale in a currency other than United States
              dollars, the royalty shall be calculated in United States dollars
              at the New York foreign exchange rate quoted in The Wall Street
              Journal on the date that payment is due; provided always that
              where any payment is made

                                       8
<PAGE>

              after the date provided therefor herein conversion shall be at the
              foreign exchange rate on the date of payment if this is more
              favourable to the LICENSOR;

       5.4    shall be made in full without deduction of taxes charges and other
              duties that may be imposed except in so far as any such deduction
              may be credited in full by the LICENSOR against the LICENSOR's own
              tax liabilities. The parties agree to co-operate in all respects
              necessary to take advantage of such double taxation agreements as
              may be available

7.     The LICENSEE agrees during the TERM and for a period of two (2) years
       thereafter to keep true and accurate records and books of account
       containing all data necessary for the determination of royalties payable
       under this Agreement, including records and books of account relating to
       sales of PRODUCTS by sub-licensees, which records and books of account
       shall upon reasonable notice by LICENSOR be open at all reasonable times
       during business hours for inspection by an independent accountant
       appointed by LICENSOR for the purpose of verifying the accuracy of the
       LICENSEE's reports hereunder. Such accountant shall be entitled to take
       copies solely of LICENSEE's records pertaining to such reports at
       LICENSOR's expense. The LICENSEE shall ensure that its sub-licensees (if
       any) also keep true and accurate records and books of account containing
       all data necessary for the determination of royalties payable in respect
       of their activities and shall ensure that such records and books of
       account shall upon reasonable notice by the LICENSOR be open at all
       reasonable times during business hours for inspection by such independent
       accountant for the purpose of verifying the accuracy of the LICENSEE's
       reports hereunder.

8.     The LICENSEE shall submit to the LICENSOR within 30 days of the end of
       each calendar quarter a statement setting forth with respect to the
       operations of the LICENSEE hereunder, as well as with regard to each
       sub-licensee during that period, the quantity of PRODUCTS made and sold
       and the NET SALES VALUE of all PRODUCTS sold together with payments due.

                                       9
<PAGE>

9.     The accountant selected to inspect the LICENSEE'S books and records
       pursuant to Article V.7 shall agree in writing to maintain in confidence
       all financial and other information received with respect to the
       LICENSEE's operations pursuant to the foregoing Article V.7.

ARTICLE VI SUPPLY OF PLATINUM COMPLEXES

1.     The LICENSOR shall supply to the LICENSEE, LICENSEE's reasonable
       requirements of the PLATINUM COMPLEXES used in the manufacture of the
       PRODUCTS at reasonable commercial prices under the terms of one or more
       separate supply agreements the terms of which are to be agreed.

2.     Within 15 (fifteen) days of the EFFECTIVE DATE, LICENSOR shall deliver a
       proposal for the supply of 200 grams of the PLATINUM COMPLEXES as
       follows: (i) 80 grams to be delivered on or before September 15, 2001,
       and 120 grams to be delivered on or before October 31, 2001. The PLATINUM
       COMPLEXES supplied pursuant to this Section shall be manufactured by the
       LICENSOR in accordance with its Standard Operation Procedures, but not be
       certified as being manufactured in accordance with Good Manufacturing
       Practices. The obligation of the LICENSOR pursuant to this Section shall
       be independent of the existence of the supply agreement described in
       Article VI.1.

3.     LICENSOR understands the requirement of LICENSEE to have security of
       supply. In the event that either: (i) the parties have not entered into a
       definitive supply agreement as described in Article VI.1 by January 31,
       2002; or (ii) the LICENSOR is unable or unwilling to supply the LICENSEE
       with its reasonable requirements of the PLATINUM COMPLEXES at reasonable
       prices, the parties agree that the LICENSEE shall have the right and
       license to manufacture or have manufactured the PLATINUM COMPLEXES itself
       or through any THIRD PARTY, subject to the terms and conditions of this
       Agreement.

                                       10
<PAGE>

ARTICLE VII PATENTS

1.     The LICENSOR shall at its own cost diligently prosecute to grant all
       subsisting patent applications within the PATENT RIGHTS so as to secure
       the broadest monopoly reasonably obtainable consistent with avoiding
       serious prejudice to the validity of such granted patents and shall
       maintain all patents within the PATENT RIGHTS in force for the full terms
       thereof. In the event that LICENSOR elects to abandon the prosecution or
       maintenance of any such PATENT RIGHTS in any country in the Territory,
       LICENSOR shall give LICENSEE notice thereof at least 60 days prior to the
       date on which LICENSEE is required by law to make a filing in order to
       preserve rights to patent protection in such country, and LICENSEE shall
       have the right to do so, at its own expense. In the event that LICENSOR
       elects to abandon the prosecution or maintenance in any country in the
       Territory any of its PATENT RIGHTS and LICENSEE elects to assume such
       prosecution and maintenance, then LICENSOR shall assign its rights it may
       have therein in such country to LICENSEE.

2.     Neither party hereto shall publish any matter forming part of the ONGOING
       INFORMATION that might prejudice the validity of any patent that might
       subsequently be granted on it. Each party shall notify the other whether
       it intends to seek any relevant protection for any part of its respective
       ONGOING INFORMATION. If it does not wish to do so and if the other party
       within three (3) calendar months notifies the first party that it would
       like to seek patent or other protection then this obligation shall
       continue for such time as may be reasonably required to prepare and file
       an application for a patent or other protection after which period it
       shall lapse.

3.     IMPROVEMENTS that are made by an employee or agent of LICENSEE, solely or
       jointly, other than with an employee or agent of LICENSOR, shall be owned
       by LICENSEE. IMPROVEMENTS that are made jointly by employees or agents of
       LICENSOR and LICENSEE shall be jointly owned by LICENSOR and LICENSEE and
       treated as joint inventions under the laws applicable to joint
       inventions. In those countries in which the LICENSEE deems it
       commercially reasonable, the LICENSEE shall process and pay for patent
       applications for any jointly owned IMPROVEMENTS (including the

                                       11
<PAGE>

       cost of filing and prosecuting applications as well as maintaining
       granted patents) which are to be utilised in the FIELD. In prosecuting
       and filing for protection, the LICENSEE shall have the right to make any
       decisions which it deems necessary to carry out such filing and
       prosecution. While any patent issued shall be jointly owned, the LICENSEE
       shall have the sole and exclusive right with regard to utilisation of the
       jointly owned patent in the FIELD to: (i) license such jointly owned
       IMPROVEMENTS to a THIRD PARTY; (ii) to enforce such patents against any
       THIRD PARTY; and (iii) make, have made, use, sell, and have sold all
       jointly owned Improvements. In the event the term of a jointly owned
       patent covering an IMPROVEMENT extends beyond the TERM, the LICENSOR and
       LICENSEE agree to undertake best endeavours to reach an agreement on the
       terms under which LICENSEE will retain the sole and exclusive rights as
       described in the prior sentence.

4.     Unless otherwise agreed, the costs of filing and prosecuting any
       application for patent and maintaining such granted patents shall rest
       with the party making the application.

5.     If, with respect to a given country, the LICENSEE becomes aware of
       substantial infringement (greater than thirty percent (30%) of the
       LICENSEE'S NET SALES VALUE of PRODUCTS in such country) by a THIRD PARTY
       of the PATENT RIGHTS in such country the LICENSEE will promptly notify
       the LICENSOR and the parties will confer and attempt to agree on what
       action should be taken. Should the LICENSOR and the LICENSEE agree that
       suit should be brought in any such country, the LICENSEE shall have the
       right to control, bear the cost of, and retain any recovery from any such
       suit. Should the LICENSEE not wish to bring suit, the LICENSOR shall have
       the option to do so, in which case the LICENSOR shall control, bear the
       cost of, and retain any recovery from any such suit and the LICENSEE
       shall reasonably co-operate in the effort. Should the LICENSEE provide
       the LICENSOR with reasonable evidence of substantial infringement by a
       THIRD PARTY of the PATENT RIGHTS in any country and the parties are
       unsuccessful in abating the infringement within one hundred and twenty
       (120) days after the LICENSOR has promptly notified the

                                       12
<PAGE>

       infringer of the infringement, and should the LICENSOR have failed to
       file suit for infringement at the end of such one hundred and twenty
       (120) day period, the LICENSEE shall be entitled to reduce the amount of
       royalty due in such country in accordance with Article V.4 by a
       percentage equal to the percentage of such substantial infringement, but
       in no event by more than fifty per cent (50%). Said reduced royalty shall
       continue to be the prevailing royalty rate on NET SALES VALUE of PRODUCTS
       in such country until said substantial infringement ceases and,
       thereafter, the royalty shall revert to the full royalty defined herein.

6.     The LICENSOR represents that it is not aware that any PRODUCTS or
       PLATINUM COMPLEXES infringes upon or falls within any THIRD PARTY patent
       rights. In the event that a THIRD PARTY accuses or brings suit against
       either party alleging patent infringement, the parties shall meet and
       agree on the response to the THIRD PARTY and the conduct of and costs
       arising from any suit.

7.     In the event that any PLATINUM COMPLEXES infringe or fall within any
       THIRD PARTY patent rights, the LICENSOR shall at its own expense use its
       best endeavours either to modify the PLATINUM COMPLEXES to be
       non-infringing or to obtain at its own expense for the LICENSEE a licence
       to continue using PLATINUM COMPLEXES, provided that in the event that the
       parties reasonably agree that it is not possible either to modify the
       PLATINUM COMPLEXES to be non-infringing or to obtain for the LICENSEE a
       licence to continue using the PLATINUM COMPLEXES then the LICENSEE may
       terminate this Agreement and all licences granted hereunder forthwith on
       written notice, and the parties shall co-operate with respect to an
       orderly termination of the same. Termination under this sub-clause shall
       be without prejudice to the rights of either party accrued at the date of
       termination.

8.     If at any time during the TERM the LICENSEE directly or indirectly
       opposes or assists any THIRD PARTY to oppose the grant of letters patent
       on any patent application within the PATENT RIGHTS or disputes or
       directly or indirectly assists any THIRD PARTY to dispute the validity of
       any patent within the PATENT RIGHTS or any of the claims thereof the
       LICENSOR

                                       13
<PAGE>

       shall be entitled to terminate all or any of the licences granted
       hereunder forthwith by notice thereof to the LICENSEE.

ARTICLE VIII CONFIDENTIALITY

1.     Any information communicated by one party to the other pursuant to this
       Agreement or prior to and in contemplation of it, whether technical or
       commercial, and which is identified on the face of a document as
       confidential, or if an oral or visual communication is confirmed as
       confidential within 30 days, or would be reasonably be assumed as
       confidential in the circumstances, shall be treated by the party
       receiving the information as confidential. The receiving party shall
       afford such confidential information the same protection as it affords
       its own confidential information, but no less than reasonable protection.
       The receiving party shall respect the other's proprietary rights therein,
       shall use the same exclusively for the purposes of this Agreement, and
       shall disclose the same only to those of its contractors and
       sub-licensees (if any) pursuant to this Agreement to whom and to the
       extent that such disclosure is reasonably necessary for the purpose of
       this Agreement and who shall enter into obligations of confidentiality
       direct with the other in similar terms to this Article.

2.     The foregoing obligations of Article VIII.1 above shall not apply to
       information which:

       2.1    prior to receipt thereof from one party was in the possession of
              the other and at its free disposal;

       2.2    is subsequently disclosed to the recipient party without any
              obligations of confidence by a third party who has not derived it
              directly or indirectly from the other;

       2.3    is or becomes generally available to the public through no act or
              default of the recipient party or its agents or employees;

       2.4    is required to be disclosed by order of a court or administrative
              authority but only after the owner of the information has been

                                       14
<PAGE>

              informed by the party subject to the order, if such informing is
              possible in the circumstances.

3.     The restrictions imposed in this Article shall not apply to disclosure of
       information necessary for the obtaining of patents, nor shall they
       restrict disclosure or any other action which is necessary for obtaining
       or maintaining registration or approval of the Food and Drug
       Administration or any other regulatory agency of the United States or any
       other country for the evaluation and sale of PRODUCTS.

ARTICLE IX PERFORMANCE

1.     During the continuance of this Agreement the LICENSEE shall:

       1.1    use its best endeavours to obtain appropriate regulatory approvals
              for PRODUCTS in the United States of America or any of the
              countries currently comprising the European Union and to promote
              the distribution and sale of PRODUCTS in the FIELD in the such
              countries as widely as its resources reasonably permit and will
              make available all necessary selling facilities to meet in full
              all demands for PRODUCTS for use in the FIELD throughout such
              countries;

       1.2    ensure that all literature prepared by the LICENSEE and relating
              to PRODUCTS bears an acknowledgement to the effect that they are
              subject to a licence from the LICENSOR, and attach to all PRODUCTS
              a label quoting relevant patent numbers and stating that such
              PRODUCTS are made under licence from the LICENSOR;

       1.3    not act as agent of the LICENSOR and specifically not give any
              indication that it is acting otherwise than as principal and in
              advertising or selling PRODUCTS not make any representation or
              give any warranty on behalf of the LICENSOR;

       1.4    advise LICENSOR immediately of all approvals granted and assist
              LICENSOR in all reasonable ways to obtain any form of patent term
              extension for medicines.

                                       15
<PAGE>

ARTICLE X LIABILITY

1.     The LICENSEE shall defend, indemnify (and keep indemnified) and hold the
       LICENSOR harmless from and against all claims, liabilities damages costs
       and expenses (including legal costs) which may be brought or made against
       or incurred by the LICENSOR arising from the use or sale of the PRODUCTS.
       LICENSOR acknowledges that this indemnity does not include those items
       for which LICENSOR is indemnifying LICENSEE below. The LICENSOR shall as
       soon as reasonably practicable notify the LICENSEE of any such claims and
       shall give to the LICENSEE all reasonable assistance that the LICENSEE
       may request in connection therewith.

2.     The LICENSOR shall defend, indemnify (and keep indemnified) and hold
       LICENSEE harmless from and against any claims, liabilities, damages,
       costs and expenses (including legal costs) arising out of or otherwise
       relating to any claims: (a) alleging that the PLATINUM COMPLEXES and/or
       the LICENSOR INFORMATION or LICENSOR'S ONGOING INFORMATION infringes upon
       the intellectual property rights of any THIRD PARTY, and (b) arising out
       of defects present in any PLATINUM COMPLEXES supplied to the LICENSEE by
       the LICENSOR pursuant to Article VI herein, up to a maximum cap of $5
       million. The LICENSEE shall as soon as reasonably practicable notify the
       LICENSOR of any such claims and shall give to the LICENSOR all reasonable
       assistance that the LICENSOR may request in connection therewith.

ARTICLE XI TERM AND TERMINATION

1.     This Agreement shall commence on the EFFECTIVE DATE and shall continue in
       force in each country of the TERRITORY for the TERM.

2.     The LICENSOR may terminate this Agreement by written notice to the
       LICENSEE in the event of failure by the LICENSEE to make any of the
       payments specified in Article V hereof on the due date or any reasonable
       and mutually agreed upon extension of any such date.

3.     The LICENSOR shall have the right to terminate this Agreement upon
       forty-five (45) days written notice to LICENSEE in the event of failure
       by the

                                       16
<PAGE>

       LICENSEE to attain the FIRST, SECOND OR THIRD MILESTONES in Article IV
       hereof within ninety (90) days of the target date specified for such
       MILESTONE or any reasonable and mutually agreed upon extension of such
       MILESTONE target date. LICENSOR agrees that it shall grant all reasonable
       requests by LICENSEE for extensions of such target dates and LICENSOR
       further agrees that it shall not exercise its right to terminate except
       where it has good faith reason to believe that LICENSEE will be unable to
       comply with any requested extended dates.

4.     LICENSEE shall have the right to terminate this Agreement at any time by
       giving written notice to LICENSOR, which shall be effective 60 (sixty)
       days from the date such notice is given.

5.     In the event of a breach of this Agreement by either party, and if
       remedial action is possible the party fails to remedy such breach within
       a period of 45 (forty five) days after written notice thereof from the
       other party, the other party shall have the right forthwith to terminate
       this Agreement by giving written notice of termination to the party in
       breach, except where the cause of such default is a reason of force
       majeure under Article XII hereof, in which event the other party shall
       have no such right of termination under this Article XI.5

6.     Either party shall have the right forthwith to terminate this Agreement
       by giving written notice of termination to the other if the other shall
       have a receiver or manager appointed of its undertaking or assets or
       shall have an administration order made against it or shall go into
       liquidation whether voluntary or otherwise (other than for the purposes
       of and followed by an amalgamation or reconstruction) or shall enter into
       any composition or arrangement with its creditors or if it shall cease to
       carry on business.

7.     Termination under this Article shall be without prejudice to the rights
       of the either party existing at the date of termination.

8.     Termination of this Agreement for any reason shall not bring to an end:

       8.1    the secrecy obligations on the parties hereto, which shall
              continue for a further period of ten years after termination;

                                       17
<PAGE>

       8.2    the LICENSEE's obligations to pay royalties or other sums which
              have accrued due or which will become due in respect of sales
              under Article XI.9 hereof;

       8.3    Upon any termination of this Agreement, all sublicenses granted by
              the LICENSEE utilising the form sub-license agreement attached as
              Exhibit 1 to this Agreement shall be automatically assigned to the
              LICENSOR which shall thereafter receive all benefits and have all
              obligations under the sublicenses as in the place and stead of the
              LICENSEE. All other sub-licenses shall terminate simultaneously
              with this Agreement.

9.     On termination of this Agreement for any reason the LICENSEE shall
       continue to have the right for a period of six months from the date of
       termination to complete deliveries on contracts in force at that date and
       to dispose of PRODUCTS already manufactured subject to payment to the
       LICENSOR of royalties thereon in accordance with Article V hereof.

10.    Upon termination by LICENSOR due to LICENSEE'S breach, the LICENSEE shall
       pass to the LICENSOR all information and data in the LICENSEE'S
       possession concerning the PRODUCTS and the LICENSEE'S ONGOING
       INFORMATION. All regulatory approvals made or acquired by the LICENSEE
       with respect to the PRODUCTS shall become the sole property of the
       LICENSOR, and the LICENSOR shall have an exclusive royalty-free licence
       without limit of time, with the right to grant sub-licences thereunder,
       to use all LICENSEE's ONGOING INFORMATION and to work under all
       intellectual property rights in respect thereof owned by the LICENSEE or
       any successor in title of the LICENSEE.

11.    After termination of this Agreement by LICENSOR due to LICENSEE'S breach,
       and in the event that the LICENSOR shall grant a licence to any THIRD
       PARTY to use PLATINUM COMPLEXES in the manufacture of PRODUCTS for use
       within the FIELD and in the event that such licence includes the right to
       use LICENSEE'S ONGOING INFORMATION, then LICENSOR shall pay to the
       LICENSEE a proportion of any royalties obtained from such THIRD PARTY,
       such proportion to be agreed between the parties

                                       18
<PAGE>

       hereto, taking into account the proportion of the value of the licensed
       LICENSEE'S ONGOING INFORMATION to the value of the licensed rights as a
       whole.

12.    Following the expiration of the TERM of this Agreement, LICENSEE shall
       have the royalty-free, non-exclusive, perpetual right and license to
       continue to use the PLATINUM COMPLEXES to make, have made, use, sell, and
       have sold PRODUCTS in all countries in the TERRITORY.

ARTICLE XII FORCE MAJEURE

If the performance of any part of this Agreement by either party is prevented
restricted, interfered with or delayed by reason of any cause beyond the
reasonable control of the party liable to perform, unless conclusive evidence to
the contrary is provided, the party so affected shall, upon giving written
notice to the other party, be excused from such performance to the extent of
such prevention, restriction, interference or delay, provided that the affected
party shall use its reasonable best efforts to avoid or remove such causes of
non-performance and shall continue performance with the utmost dispatch whenever
such causes are removed. In the event that the event of Force Majeure continues
uninterrupted for a period of six months, the party not directly affected by the
event may terminate this Agreement upon one month's written notice, subject to
the termination being ineffective if the even of Force Majeure ends during that
notice period.

ARTICLE XIII PERSONNEL

1.     The LICENSOR agrees that it will not, nor will its AFFILIATES, for the
       term of this Agreement and for a period of six months after termination
       for whatsoever cause employ or appoint as its partner, consultant or
       agent any person who has been within a period of one year from the date
       of such intended employment or appointment employed by the LICENSEE in
       research or other technical or commercial work associated with the
       purposes of this Agreement.

2.     The LICENSEE agrees that it will not, nor will its AFFILIATES, for the
       term of this Agreement and for a period of six months after termination
       for whatsoever cause employ or appoint as its partner, consultant or
       agent any

                                       19
<PAGE>

       person who has been within a period of one year from the date of such
       intended employment or appointment employed by the LICENSOR in research
       or other technical or commercial work associated with the purposes of
       this Agreement.

ARTICLE XIV GENERAL

1.     This Agreement shall be binding upon and inure to the benefit of the
       parties hereto and their respective legal successors but shall not
       otherwise be assignable by either party without the written consent of
       the other party, other than to an assignee of such party of all or
       substantially all of such party's business.

2.     No variation or amendment of this Agreement shall bind either party
       unless made in writing and agreed to in writing by duly authorised
       officers of both parties.

3.     If any provision of this Agreement is agreed by the parties to be illegal
       void or unenforceable under any law that is applicable hereto or if any
       court or administrative authority of competent jurisdiction in a final
       decision so determines this Agreement shall continue in force save that
       such provision shall be deemed to be excised herefrom with effect from
       the date of such agreement or decision or such earlier date as the
       parties may agree. In such event, the parties shall endeavour to
       substitute the excised provision by another provision that achieves the
       intentions of the parties at the date hereof.

4.     The headings in this Agreement are for convenience only and are not
       intended to have any legal effect.

5.     A failure by either party hereto to exercise or enforce any rights
       conferred upon it by this Agreement shall not be deemed to be a waiver of
       any such rights or operate so as to bar the exercise or enforcement
       thereof at any subsequent time or times.

6.     This Agreement shall not give any rights of enforcement or otherwise to
       any THIRD PARTY.

                                       20
<PAGE>

7.     Each of the parties acknowledges and agrees that in entering into this
       Agreement, and the documents referred to in it, it does not rely on, and
       shall have no remedy in respect of, any statement, representation,
       warranty or understanding (whether negligently or innocently made) of any
       person (whether party to this Agreement or not) other than as expressly
       set out in this Agreement as a warranty or representation. The only
       remedy available to it for breach of the such warranties or
       representations shall be for breach of contract under the terms of this
       Agreement. Nothing in this clause shall, however, operate to limit or
       exclude any liability for fraud.

ARTICLE XV NOTICES

1.     Any notice required to be given hereunder by either party to the other
       shall be in writing and shall be served by sending the same by registered
       or recorded delivery post or by telefax to the address of the other party
       as given herein or to such other address as that party may have
       previously notified to the party giving notice as its address for such
       service. Such notice shall be deemed to be received, if given by post,
       three days after mailing, and if given by telefax, on the day of
       transmission.

2.     The parties' address for service are as follows:

       For the LICENSOR

       Johnson Matthey PLC
       2-4 Cockspur Street
       Trafalgar Square
       London SW1Y 5BQ
       United Kingdom
       attention: Company Secretary
       Telefax:

       For the LICENSEE

       NeoTherapeutics Inc
       PO Box 57052
       Irvine
       California 92619 -- 7052
       U.S.A.
       attention: President
       Telefax: 949-788-6706:

                                       21
<PAGE>

ARTICLE XVI INTEREST

Any payment required to be made by the LICENSEE under the provisions of this
Agreement shall bear interest as well after as before judgment from the date the
payment becomes due until the date of actual payment at a rate equal to 3% over
the base rate from time to time of Lloyds Bank PLC

ARTICLE XVII GOVERNING LAW AND DISPUTES

1.     The construction validity and performance of this Agreement shall be
       governed in all respects by English Law.

2.     Subject to Article XVII 3, all disputes arising in any way out of or
       affecting this Agreement shall be referred to arbitration under the rules
       of conciliation and arbitration of the International Chamber of Commerce
       whose decision shall be final. The place of arbitration shall be
       California if the LICENSOR is the plaintiff and London if the LICENSEE is
       the Plaintiff.

3.     Notwithstanding Article XVII 2, either party may seek interlocutory
       relief in respect of any dispute arising in any way out of or affecting
       this Agreement from the English courts and the parties agree that such
       courts shall have non-exclusive jurisdiction in this regard.

                                       22
<PAGE>

                                   SCHEDULE A

                                  Patent Rights

1.     Case MBUS 1044

<TABLE>
<CAPTION>
       Country       Application No.       Patent No.    Expiration
       -------       ---------------       -----------   ----------
<S>                  <C>                   <C>           <C>
       Austria       EP891300787           0328274       26Jan09
       Belgium             "               "             26Jan09
       France              "               "             26Jan09
       Germany             "               "             26Jan09
       Great Britain       "               "             26Jan09
       Greece              "               "             26Jan09
       Italy               "               "             26Jan09
       Luxembourg          "               "             26Jan09
       Netherlands         "               "             26Jan09
       Spain               "               "             26Jan09
       Sweden              "               "             26Jan09
       Switzerland         "               "             26Jan09
       Australia     28971/89              618310        31Jan09
       Brazil        1100963-2             1100963-2     14May17
       Canada        589796                1340286       22Dec15
       Denmark       0491/89               --            1Feb09
       Finland       89/0512               91260         1Feb09
       Hungary       52289                 205767        3Feb09
       Hungary       P/P00163              210872        9Dec08
       Ireland       31989                 65503         31Jan 06(can be extended
                                                         to 31Jan09)
       Israel        89119                 89119         29Jan09
       Japan         01/24751              2781403       1Feb09
       S. Korea      89/1069               147270        15May13
       Mexico        9203596               181357        10Dec08
       New Zealand   227839                227839        1Feb09
       Norway        89/0426               177569        1Feb09
       Portugal      89608                 89608         2Feb09
</TABLE>

                                       23
<PAGE>

<TABLE>
<CAPTION>
       Country       Application No.       Patent No.    Expiration
       -------       ---------------       -----------   ----------
<S>                  <C>                   <C>           <C>
       Romania       C-20256               --            2Feb08
       South Africa  89/0831               89/0831       1Feb09
       Taiwan        78/100752             51931         20Oct06
       USA           07/602931             5072011       9Dec08
       USA           07/723971             5244919       14Sep10
</TABLE>

2.     Case MBUS 1192

<TABLE>
<CAPTION>
       Country       Application No.       Patent No.    Expiration
       -------       ---------------       -----------   ----------
<S>                  <C>                   <C>           <C>
       Austria       EP 95302629.1         0 679 656     19Apr15
       Belgium       EP 95302629.1         0 679 656     19Apr15
       Denmark       EP 95302629.1         0 679 656     19Apr15
       France        EP 95302629.1         0 679 656     19Apr15
       Germany       EP 95302629.1         0 679 656     19Apr15
       Greece        EP 95302629.1         0 679 656     19Apr15
       GB            EP 95302629.1         0 679 656     19Apr15
       Holland       EP 95302629.1         0 679 656     19Apr15
       Ireland       EP 95302629.1         0 679 656     19Apr15
       Italy         EP 95302629.1         0 679 656     19Apr15
       Portugal      EP 95302629.1         0 679 656     19Apr15
       Spain         EP 95302629.1         0 679 656     19Apr15
       Sweden        EP 95302629.1         0 679 656     19Apr15
       Switzerland   EP 95302629.1         0 679 656     19Apr15
       Australia     17661/95              692521        23Apr15
       Canada        2147567               --            20Apr15
       Japan         7-100870              --            24Apr15
       USA           08/428444             5519155       24Apr15
</TABLE>

                                       24
<PAGE>

       IN WITNESS whereof the parties have caused this Agreement to be executed
       the day and year first above written

SIGNED by:  /s/ Barry Murrer
          ------------------------- ------

For and on behalf of                     )
JOHNSON MATTHEY PUBLIC                   )
LIMITED COMPANY                          )

SIGNED by:  /s/Rajesh C. Shrotriya
          --------------------------------
Rajesh C. Shrotriya, M.D., President and Chief Operating Officer
For and on behalf of                     )
NEOTHERAPEUTICS INC.                     )

                                       25
<PAGE>
                                   SCHEDULE A

                                  Patent Rights

<TABLE>
<S>                          <C>                     <C>                <C>
1.    Case MBUS 1044
      Country                Application No.         Patent No.         Expiration
      -------                ---------------         ----------         ----------
      Austria                EP891300787             0328274            26Jan09
      Belgium                "                       "                  26Jan09
      France                 "                       "                  26Jan09
      Germany                "                       "                  26Jan09
      Great Britain          "                       "                  26Jan09
      Greece                 "                       "                  26Jan09
      Italy                  "                       "                  26Jan09
      Luxembourg             "                       "                  26Jan09
      Netherlands            "                       "                  26Jan09
      Spain                  "                       "                  26Jan09
      Sweden                 "                       "                  26Jan09
      Switzerland            "                       "                  26Jan09
      Australia              28971/89                618310             31Jan09
      Brazil                 1100963-2               1100963-2          2Feb08
      Canada                 589796                  1340286            22Dec15
      Denmark                0491/89                 -                  1Feb09
      Finland                89/0512                 91260              1Feb09
      Hungary                52289                   205767             3Feb09
      Hungary                P/P00163                210872             9Dec08
      Ireland                31989                   65503              31Jan 06 (can be extended
                                                                        to 31Jan09)
      Israel                 89119                   89119              29Jan09
      Japan                  01/24751                2781403            1Feb09
      S. Korea               89/1069                 147270             15May13
      Mexico                 9203596                 181357             10Dec08
      New Zealand            227839                  227839             1Feb09
      Norway                 89/0426                 177569             1Feb09
      Portugal               89608                   89608              2Feb09
</TABLE>

<PAGE>

<TABLE>
<S>                          <C>                     <C>                <C>
      Country                Application No.         Patent No.         Expiration
      -------                ---------------         -----------        ----------
      Romania                C-20256                 -                  2Feb08
      South Africa           89/0831                 89/0831            1Feb09
      Taiwan                 78/100752               51931              20Oct06
      USA                    07/602931               5072011            9Dec08
      USA                    07/723971               5244919            14Sep10

2.    Case MBUS 1192
      Country                Application No.         Patent No.         Expiration
      -------                ---------------         -----------        ----------
      Europe                 95302629                0 679 656          19Apr15
      Australia              17661/95                692521             23Apr15
      Canada                 2147567                 -                  20Apr15
      Japan                  7-100870                -                  24Apr15
      USA                    08/428444               5519155            24Apr15
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00031-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00031-of-00352.parquet"}]]