Document:

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                                                                   EXHIBIT 10.10

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                            ASSET PURCHASE AGREEMENT

                           dated as of April 10, 2006

                                 by and between

                               ABBOTT LABORATORIES

                                   ("Seller")

                                       and

                            IMARX THERAPEUTICS, INC.

                                    ("Buyer")

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                                TABLE OF CONTENTS

                                                                           PAGE
                                                                           ----
ARTICLE 1 DEFINITIONS....................................................     1
    1.1    Definitions...................................................     1

ARTICLE 2 PURCHASE AND SALE..............................................     4
    2.1    Agreements to Purchase and Sell...............................     4
    2.2    Excluded Assets...............................................     5
    2.3    Assumed Liabilities...........................................     7
    2.4    Excluded Liabilities..........................................     7
    2.5    Procedures for Purchased Assets not Transferable..............     8

ARTICLE 3 PURCHASE PRICE; CONSISTENT TREATMENT...........................     9
    3.1    Purchase Price................................................     9
    3.2    Payment of Purchase Price.....................................     9
    3.3    Purchase Price Allocation.....................................     9
    3.4    Prorations....................................................     9

ARTICLE 4 CLOSING........................................................     9
    4.1    Closing Date..................................................     9
    4.2    Transactions at Closing.......................................     9

ARTICLE 5 REPRESENTATIONS AND WARRANTIES OF SELLER.......................    10
    5.1    Organization..................................................    10
    5.2    Due Authorization.............................................    10
    5.3    Inventory, Equipment and Raw Materials........................    11
    5.4    Title.........................................................    11
    5.5    Intellectual Property.........................................    11
    5.6    Litigation....................................................    11
    5.7    Consents......................................................    12
    5.8    Brokers, Etc..................................................    12
    5.9    Financial Information.........................................    12
    5.10   Absence of Undisclosed Liabilities............................    12
    5.11   Absence of Unusual Changes and Unusual Transactions...........    12
    5.12   Governmental Authorizations...................................    12
    5.13   Contracts.....................................................    12
    5.14   Tax Matters...................................................    13
    5.15   Cell Banks....................................................    13
    5.16   Disclaimer....................................................    13

ARTICLE 6 REPRESENTATIONS AND WARRANTIES OF BUYER........................    14
    6.1    Organization..................................................    14
    6.2    Due Authorization.............................................    14
    6.3    Consents......................................................    14
    6.4    Litigation....................................................    14
    6.5    Breach of Representations and Warranties......................    14
    6.6    Brokers, Etc..................................................    14
    6.7    Independent Investigation.....................................    15
    6.8    Indebtedness..................................................    15

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                                TABLE OF CONTENTS

                                                                           PAGE
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ARTICLE 7 PRE-CLOSING COVENANTS OF SELLER AND BUYER......................    15
    7.1    Corporate and Other Actions...................................    15
    7.2    Consents and Approvals........................................    15
    7.3    Competition Law Filings.......................................    15
    7.4    Access to Information.........................................    16
    7.5    Ordinary Course of Business...................................    16

ARTICLE 8 CONDITIONS.....................................................    16
    8.1    Conditions to Obligations of Seller...........................    16
    8.2    Conditions to Obligations of Buyer............................    17

ARTICLE 9 POST-CLOSING COVENANTS, OTHER AGREEMENTS.......................    18
    9.1    Assumed Liabilities...........................................    18
    9.2    Availability of Records.......................................    18
    9.3    Use of Trade or Service Marks.................................    19
    9.4    Tax Matters...................................................    19
    9.5    Chargebacks...................................................    20
    9.6    Non-competition by Seller.....................................    20
    9.7    Regulatory Transfer...........................................    20
    9.8    Post-Closing Delivery.........................................    20
    9.9    Transition Services...........................................    20
    9.10   No Other Compensation.........................................    21

ARTICLE 10 INDEMNIFICATION AND SURVIVAL..................................    21
    10.1   Indemnification by Seller.....................................    21
    10.2   Indemnification by Buyer......................................    22
    10.3   Survival......................................................    23
    10.4   Exclusive Remedy..............................................    24
    10.5   Net Losses and Subrogation....................................    24
    10.6   Insurance.....................................................    24

ARTICLE 11 TERMINATION...................................................    25
    11.1   Termination of Agreement......................................    25
    11.2   Automatic Termination.........................................    25
    11.3   Continuing Effectiveness......................................    25

ARTICLE 12 MISCELLANEOUS.................................................    25
    12.1   Assignment....................................................    25
    12.2   No Press Release Without Consent..............................    25
    12.3   Confidentiality...............................................    26
    12.4   Expenses......................................................    26
    12.5   Severability..................................................    26
    12.6   Entire Agreement..............................................    26
    12.7   No Third Party Beneficiaries..................................    27
    12.8   Waiver........................................................    27
    12.9   Governing Law.................................................    27
    12.10  Headings......................................................    27
    12.11  Counterparts..................................................    27

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                                TABLE OF CONTENTS

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    12.12  Further Documents.............................................    27
    12.13  Notices.......................................................    27
    12.14  Schedules.....................................................    28
    12.15  Construction..................................................    29

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                             EXHIBITS AND SCHEDULES

EXHIBITS

Exhibit A - Assignment and Assumption Agreement
Exhibit B - Intellectual Property Transfer Agreement
Exhibit C - Inventory Trademark License Agreement
Exhibit D - Promissory Note
Exhibit E - Security Agreement
Exhibit F - Escrow Agreement
Exhibit G - Testing Procedures

SCHEDULES

Schedule 1.1 - Knowledge Persons
Schedule 2.1(b) - Transferred Intellectual Property
Schedule 2.1(c) - Cell Banks
Schedule 2.1(d)(i) - Contracts
Schedule 2.1(f) - Seller Labeled Inventory
Schedule 2.1(g) - Sales Materials
Schedule 2.1(h) - Product Applications
Schedule 2.1(j) - Stock in Trade
Schedule 2.1(k) - Raw Materials
Schedule 2.5 - Mixed GPO Contracts
Schedule 5.4 - Title
Schedule 5.5 - Intellectual Property
Schedule 5.6 - Litigation
Schedule 5.7 - Seller Consents
Schedule 5.9 - Financial Data
Schedule 5.12 - Governmental Authorizations
Schedule 6.3 - Buyer Consents
Schedule 6.8 - Indebtedness

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                            ASSET PURCHASE AGREEMENT

      THIS AGREEMENT, dated as of April 10, 2006 is entered into by and between
ABBOTT LABORATORIES, an Illinois corporation ("Seller"), and IMARX THERAPEUTICS,
INC., a Delaware corporation ("Buyer").

      WHEREAS, Seller wishes to sell to Buyer the Purchased Assets and Assumed
Liabilities (each as defined below), and Buyer wishes to purchase such assets
from Seller and to assume such liabilities.

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

                                   ARTICLE 1

                                   Definitions

      1.1 Definitions. The following terms have the following meanings when used
herein:

      "$" means United States dollars.

      "Affiliate" means, with respect to any Person, any other Person directly
or indirectly controlling or controlled by, or under direct or indirect common
control with, such Person. For purposes of this definition, a Person shall be
deemed to control another Person if it owns or controls more than fifty percent
(50%) of the voting equity of the other Person (or other comparable ownership if
the Person is not a corporation). For purposes of clarification, with respect to
Seller, the term "Affiliate" shall specifically exclude TAP Holdings Inc., TAP
Finance Inc. and TAP Pharmaceuticals Products Inc.

      "Agreement" means this Asset Purchase Agreement, including all Schedules
and Exhibits hereto, as it may be amended from time to time in accordance with
its terms.

      "Allocation Schedule" has the meaning set forth in Section 3.3.

      "Annual Report" means an annual report filed by Seller with the FDA
relating to the Product.

      "Assignment and Assumption Agreement" means the Assignment and Assumption
Agreement and Bill of Sale in substantially the form attached hereto as Exhibit
A.

      "Assumed Liabilities" has the meaning set forth in Section 2.3.

      "Buyer" has the meaning set forth in the recitals hereof.

      "Cell Banks" has the meaning set forth in Section 2.1(c).

      "Chargeback" means all credits, chargebacks, rebates, reimbursements,
administrative fees, and other amounts owed to wholesalers, distributors, group
purchasing organizations,

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insurers, and other institutions pursuant to any Contract. "Seller Chargeback"
means Chargebacks arising out of Products sold to customers prior to the Closing
and "Buyer Chargeback" means Chargebacks arising out of transactions consummated
on or after the Closing.

      "Closing" means the closing of the purchase and sale of the Purchased
Assets and assumption of the Assumed Liabilities contemplated by this Agreement.

      "Closing Date" means April 28, 2006, or such other date as may be mutually
agreed upon by the Buyer and Seller.

      "Confidential Information" has the meaning set forth in Section 12.3.

      "Contracts" has the meaning set forth in Section 2.1(d).

      "Disclosure Schedules" shall mean those schedules attached hereto.

      "Encumbrance" means any encumbrance, lien, charge, pledge, mortgage, title
retention agreement, security interest of any nature, adverse claim, exception,
reservation, easement, right of occupation, any matter capable of registration
against title, option, right of pre-emption or privilege or any agreement or
other commitment, whether written or oral, to create any of the foregoing.

      "Escrow Agreement" means the Escrow Agreement in substantially the form
attached hereto as Exhibit F.

      "Excluded Assets" has the meaning set out in Section 2.2.

      "Excluded Liabilities" has the meaning set forth in Section 2.4.

      "FDA" means the U.S. Food and Drug Administration.

      "GAAP" means United States generally accepted accounting principles
consistently applied from period to period and throughout any period in
accordance with the past practices of Seller or Buyer, as the case may be.

      "Governmental Authorizations" has the meaning set forth in Section 2.1(e).

      "HSR Act" means the Hart-Scott-Rodino Antitrust Improvements Act of 1976,
as amended.

      "Indemnified Person" has the meaning set forth in Section 10.5(a).

      "Indemnifying Person" has the meaning set forth in Section 10.5(a).

      "Intellectual Property Rights" means all intellectual property, industrial
and other proprietary rights, protected or protectable, under the laws of the
United States or any other country, or any political subdivision thereof,
including, without limitation, (i) all trade names, trade dress, trademarks,
service marks, logos, brand names and other identifiers; (ii) copyrights,

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moral rights (including rights of attribution and rights of integrity); (iii)
all trade secrets, inventions, discoveries, devices, processes, designs,
techniques, trade secrets, ideas, know-how and other confidential or proprietary
information, whether or not reduced to practice; (iv) all domestic and foreign
patents and the registrations, applications, renewals, extensions, divisionals
and continuations (in whole or in part) thereof; and (v) all goodwill associated
therewith and all rights and causes of action for infringement,
misappropriation, misuse, dilution or unfair trade practices associated with (i)
through (iv) above.

      "Intellectual Property Transfer Agreement" means the Intellectual Property
Transfer Agreement in substantially the form attached hereto as Exhibit B.

      "Inventory" has the meaning set forth in Section 2.1(f).

      "Inventory Trademark License Agreement" means the Inventory Trademark
License Agreement in substantially the form attached hereto as Exhibit C.

      "Knowledge" means, with respect to Seller, the actual knowledge after
reasonable inquiry of the persons listed on Schedule 1.1.

      "Losses" has the meaning set forth in Section 10.1(a).

      "Master Cell Bank" means Cell Suspension of Urokinase Kidney Cells, Code
81987, as described on Schedule 2.1(c).

      "Mixed GPO Contracts" means those Group Purchasing Organization contracts
(including related contracts entered into in connection therewith) relating to
both Purchased Assets and other products of Seller listed on Schedule
2.1(d)(ii).

      "New GPO Contract" has the meaning set forth in Section 2.5(b).

      "NDA 76-1021" means new drug application 76-1021 filed with the FDA,
subsequently assigned the new NDA 21-846.

      "Other Agreements" means, collectively, the Assignment and Assumption
Agreement, the Intellectual Property Transfer Agreement, the Inventory Trademark
License Agreement, the Promissory Note, the Security Agreement and the Escrow
Agreement.

      "Person" means any individual, corporation, partnership, limited
partnership, joint venture, limited liability company, trust or unincorporated
organization or government or any agency or political subdivision thereof.

      "Product" or "Products" means Seller's urokinase product marketed under
the brand Abbokinase(R).

      "Promissory Note" has the meaning set forth in Section 3.1(b).

      "Purchase Price" has the meaning set forth in Section 3.1.

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      "Purchased Assets" has the meaning set forth in Section 2.1.

      "Raw Materials" means those raw materials set forth on Schedule 2.1(k).

      "Security Agreement" means the Security Agreement in substantially the
form attached hereto as Exhibit E.

      "Seller" has the meaning set forth in the recitals hereof.

      "SNDAs" means supplemental new drug applications S-076 through S-095 and
the supplemental application for CBE-30 filed with the FDA.

      "Stock in Trade" has the meaning set forth in Section 2.1(j).

      "Taxes" shall mean all taxes, charges, fees, duties, levies or other
assessments, including, without limitation, income, gross receipts, net
proceeds, ad valorem, turnover, real and personal property (tangible and
intangible), sales, use, franchise, excise, value added, goods and services,
license, payroll, unemployment, environmental, customs duties, capital stock,
disability, stamp, leasing, lease, user, transfer, fuel, excess profits,
occupational and interest equalization, windfall profits, severance and
employees' income withholding and social security and similar employment taxes
imposed by the United States or any other foreign country or by any state,
municipality, subdivision or instrumentality of the Unites States or of any
other foreign country or by any other tax authority, including all applicable
penalties and interest, and such term shall include any interest, penalties or
additions to tax attributable to such taxes.

      "Testing Procedures" means the procedures set forth on Exhibit G hereto.

      "Thrombolytic Therapy Product" means serine proteases that convert
plasminogen to plasmin to break down the fibrinogen and fibrin to dissolve a
thrombus in an artery, vein or in-dwelling catheter, or any proteases or
protease activators which catalyze proteolytic breakdown of fibrinogen or fibrin
for the same purpose.

      "Transferred Intellectual Property" has the meaning set forth in Section
2.1(b).

      "United States" means the United States of America.

      "Working Cell Banks" means Cell Suspension Subcultured from Urokinase
Kidney Cells, Frozen Sub-2, Code 48647 as Schedule 2.1(c).

                                   ARTICLE 2

                                Purchase and Sale

      2.1 Agreements to Purchase and Sell. Subject to the terms and conditions
contained herein, at the Closing Seller shall sell, transfer, convey, assign and
deliver to Buyer, and Buyer shall purchase and accept from Seller, all right,
title, and interest of Seller in and to the following assets of Seller
(collectively, the "Purchased Assets"):

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            (a) all sales and marketing information, including all customer
lists of Seller, relating primarily to the Products;

            (b) (i) the trademarks, patents, and patent applications set forth
on Schedule 2.1(b), (ii) the package designs, labels, logos and associated
artwork primarily related to the Products and (iii) all technical information,
references and standards, methodologies, processes, protocols, specifications,
techniques, trade secrets and know how, databases and formulas primarily related
to the Products and any supporting documentation that relates primarily to the
Products (collectively, the "Transferred Intellectual Property");

            (c) the Master Cell Bank and Working Cell Banks described on
Schedule 2.1(c) (the "Cell Banks");

            (d) all rights and interest of Seller to the contracts relating to
the Products set forth on Schedule 2.1(d)(i) (the "Contracts");

            (e) all licenses, approvals, certificates, permits, franchises, or
other evidence of authority issued to Seller or Seller's Affiliates by a
federal, state, local or foreign governmental agency or authority, regardless of
jurisdiction, relating primarily to the Products, in each case to the extent
assignable, including NDA 76-1021 and the SNDAs (the "Governmental
Authorizations");

            (f) 153,000 vials of unlabelled Product that have been approved by
Seller for distribution, but have not been approved by the FDA ("Inventory");

            (g) all records, reports, Product information files (including
Product development and regulatory history files) and sales, advertising and
marketing information files of Seller and Seller's Affiliates, in each case
relating primarily to the Products, including without limitation the items
identified on Schedule 2.1(g);

            (h) all current and pending new drug applications for the Products
as set forth on Schedule 2.1(h);

            (i) all goodwill relating exclusively to the Products;

            (j) any Stock-in-Trade described on Schedule 2.1(j); and

            (k) the Raw Materials.

      2.2 Excluded Assets. Notwithstanding anything to the contrary in this
Agreement, Seller shall not sell, transfer or assign, and Buyer shall not
purchase or otherwise acquire, the following assets of Seller (such assets being
collectively referred to hereinafter as the "Excluded Assets"):

            (a) all rights of Seller and Seller's Affiliates arising under this
      Agreement, the Other Agreements or from the consummation of the
      transactions contemplated hereby or thereby;

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            (b) all accounts receivable, notes receivable, cash, bank deposits,
      marketable securities and intercompany receivable balances owed to Seller
      or Seller's Affiliates with respect to the Products existing at the
      Closing Date;

            (c) all rights of Seller and Seller's Affiliates arising under any
      contract other than the Contracts;

            (d) all corporate minute books, stock records and Tax returns
      (including all work papers relating to such Tax returns) of Seller and
      Seller's Affiliates and such other similar corporate books and records of
      Seller and Seller's Affiliates as may exist on the Closing Date;

            (e) all real property, buildings, structures and improvements
      thereon, whether owned or leased by Seller or Seller's Affiliates, and all
      fixtures and fittings attached thereto, including those in the buildings
      designated by Seller as the M3, M3B, M6 and M10 buildings in its North
      Chicago, Illinois location;

            (f) all Intellectual Property Rights of Seller or Seller's
      Affiliates of any kind not listed on Schedule 2.1(b) or referred to in
      Section 2.1(d), specifically including the trademarks or trade names
      "Abbott," "Abbott Laboratories" and any variants thereof, the stylized
      symbol "A," the Abbokinase OpenCath(R) trademark and the ABBOKINASE(R)
      trademark, which is the subject of the Inventory Trademark License
      Agreement;

            (g) all rights to refunds of Taxes paid by or on behalf of Seller or
      Seller's Affiliates;

            (h) all insurance policies and claims thereunder existing at the
      Closing Date;

            (i) all Seller and Seller Affiliate intercompany payable balances
      relating to the Products;

            (j) the services of any employee of Seller or Seller's Affiliates;

            (k) all assets of any employee benefit plan, arrangement, or program
      maintained or contributed to by Seller or any of its Affiliates;

            (l) all assets, tangible or intangible, wherever situated, not
      expressly included in the Purchased Assets;

            (m) all raw materials not listed in Schedule 2.1(k); and

            (n) all equipment of Seller or Seller's Affiliates.

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      2.3 Assumed Liabilities. On the Closing Date, subject to the provisions of
Section 2.4, Buyer shall assume, or shall cause Buyer's Affiliates to assume,
the following liabilities of Seller and Seller's Affiliates relating primarily
to the Purchased Assets existing on the Closing Date as follows (collectively,
together with all other obligations and liabilities of Seller and Seller's
Affiliates assumed by Buyer or Buyer's Affiliates pursuant to this Agreement and
the Schedules hereto, the "Assumed Liabilities"):

            (a) all liabilities and all obligations arising after the Closing
      Date under the Contracts, the Transferred Intellectual Property and the
      Governmental Authorizations being transferred from Seller to Buyer
      hereunder;

            (b) Taxes that are the responsibility of Buyer pursuant to Section
      3.4, Section 9.4(a) and Section 12.4 of this Agreement and all Taxes
      related to Products and Purchased Assets attributable to any period or
      partial period ending after the Closing;

            (c) Except as provided in Section 2.4(f), all liabilities or other
      claims related to the research, development, marketing, manufacture,
      distribution, testing, sale or trials of the Products that arise after the
      Closing Date.

      2.4 Excluded Liabilities. Neither Buyer nor Buyer's Affiliates assume nor
will they become responsible for any of the liabilities and obligations of
Seller or Seller's Affiliates (collectively, the "Excluded Liabilities") except
for those set out in Section 2.3. The Excluded Liabilities shall include,
without limitation:

            (a) all liabilities and obligations of Seller and Seller's
      Affiliates arising under this Agreement, the Other Agreements or from the
      consummation of the transactions contemplated hereby or thereby;

            (b) all intercompany payable balances owing to Seller or Seller's
      Affiliates;

            (c) all liabilities and obligations of Seller and Seller's
      Affiliates arising under any contract or agreement not set forth on
      Schedule 2.1(c);

            (d) all obligations related to employees of Seller or Seller's
      Affiliates;

            (e) any and all claims, causes of action or litigation to the extent
      relating to Products sold prior to the Closing, including the matters set
      forth on Schedule 5.6;

            (f) any and all claims, causes of action or litigation relating to
      Products sold after Closing to the extent related to Seller's failure to
      manufacture the Inventory in compliance with the standards set forth in
      the specifications in the SNDAs; and

            (g) other current liabilities (except Assumed Liabilities) of Seller
      or Seller's Affiliates incurred in the ordinary course of business and
      existing at the Closing Date.

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2.5 Procedures for Purchased Assets not Transferable. If any of the Contracts or
any other property or rights included in the Purchased Assets are not assignable
or transferable either by virtue of the provisions thereof or under applicable
law without the consent of some party or parties, Seller shall use its
commercially reasonable efforts to obtain such consents after the execution of
this Agreement, but prior to the Closing, and Buyer shall use its commercially
reasonable efforts to assist in that endeavor. If any such consent cannot be
obtained prior to the Closing and the Closing occurs, this Agreement and the
related instruments of transfer shall not constitute an assignment or transfer
thereof and Buyer shall not assume Seller's obligations with respect thereto,
but Seller shall use its commercially reasonable efforts to obtain such consent
as soon as reasonably possible after the Closing or otherwise obtain for Buyer
the practical benefit of such property or rights and Buyer shall use its
commercially reasonable efforts to assist in that endeavor. For purposes of this
Section 2.5, commercially reasonable efforts shall not include any requirement
of either party to expend money, commence any litigation or offer or grant any
accommodation (financial or otherwise) to any third party. In the case of any
Contracts for which a necessary consent has not been obtained, Buyer shall
provide all goods and services and bear all costs necessary to complete such
Contracts at no cost to Seller, and Seller shall hold for Buyer's account and
promptly remit to Buyer all amounts received with respect to such Contracts.

      (b) The parties shall use their commercially reasonable efforts to cause
the purchaser under each of the Mixed GPO Contracts to enter into a new
agreement or amendment with Buyer or to assign the Agreement to Buyer pursuant
to which the provisions of the Mixed GPO Contracts relating to future sales of
Products shall be terminated and replaced by such new agreement, amendment or
assignment between the purchaser and Buyer on substantially similar terms as the
applicable Mixed GPO Contract ("New GPO Contract").

      (c) In the event that Buyer has not, despite its commercially reasonable
efforts, entered into a New GPO Contract with respect to each of the top five
(5) Mixed GPO Contracts identified on Schedule 2.5 within one hundred twenty
(120) days following Closing (the "Final GPO Date"), Buyer shall be entitled to
a credit against the Promissory Note equal to one hundred thousand dollars
($100,000) multiplied by the number of such top five Mixed GPO Contracts for
which no New GPO Contract exists as of such date.

      (d) On the Final GPO Date, the principal balance of the Promissory Note as
of the Final GPO Date shall be reduced by an amount equal to one hundred
thousand dollars multiplied by the number of top five Mixed GPO Contracts not
replaced with New GPO Contracts prior to the Final GPO Date.

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                                   ARTICLE 3

                      Purchase Price; Consistent Treatment

      3.1 Purchase Price. The purchase price ("Purchase Price") for the
Purchased Assets shall consist of (a) a payment at Closing in the amount of Five
Million U.S. dollars ($5.0 million), plus the assumption of the Assumed
Liabilities and (b) a promissory note in substantially the form attached hereto
as Exhibit D in the principal amount of Fifteen Million U.S. dollars (the
"Promissory Note").

      3.2 Payment of Purchase Price. The Purchase Price shall be paid in
accordance with Section 4.2(b).

      3.3 Purchase Price Allocation. The Purchase Price shall be allocated among
the Purchased Assets as set forth in a schedule (the "Allocation Schedule") that
Buyer will prepare and deliver to Seller on or before the Closing Date, which
allocation shall be subject to the reasonable approval of Seller. Each of Seller
and Buyer shall sign and submit all necessary forms to report this transaction
for federal, state and foreign income tax purposes in accordance with the
Allocation Schedule, and shall not take a position for Tax purposes inconsistent
therewith. Any adjustment to the Purchase Price shall be allocated as provided
by Treasury Regulation Section 1.1060-1.

      3.4 Prorations. Seller and Buyer agree that all of the items listed below
relating to the Purchased Assets will be prorated as of the Closing Date, with
Seller liable to the extent such items relate to any time period up to and
including the Closing Date and Buyer liable to the extent such items relate to
periods subsequent to the Closing Date: (a) personal property Taxes, if any,
attributable to the Purchased Assets; (b) rents, Taxes and other items payable
by Seller under any lease, contract to be assigned to or assumed by Buyer
hereunder or for which Buyer is entitled to enjoy the practical benefits
pursuant to Section 2.5; (c) the amount of any license or registration fees with
respect to any licenses or registrations which are being assigned or transferred
hereunder; and (d) all other items which are normally prorated in connection
with similar transactions. Seller agrees to furnish Buyer with such documents
and other records as Buyer reasonably requests in order to confirm all
adjustment and proration calculations made pursuant to this Section 3.4.

                                   ARTICLE 4

                                    Closing

      4.1 Closing Date. The Closing shall take place at the offices of Kirkland
& Ellis LLP, 200 East Randolph Drive, Chicago, Illinois 60601, at 10:00 a.m.
Chicago time, on the Closing Date subject to the satisfaction or waiver of each
of the conditions set forth in Article 8 or at such other place, time or date as
Seller and Buyer may agree.

      4.2 Transactions at Closing. At the Closing, subject to the terms and
conditions hereof:

            (a) Transfer of Purchased Assets. Seller shall transfer and convey
      or cause to be transferred and conveyed to Buyer all of the Purchased
      Assets and Seller and Buyer shall

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      execute and Seller shall deliver to Buyer the Assignment and Assumption
      Agreement, each of the Other Agreements and such other good and sufficient
      instruments of transfer and conveyance as shall be necessary to vest in
      Buyer title to all of the Purchased Assets. In addition, Seller shall
      deliver to Buyer the certificate required by Section 8.2(b) and all other
      documents required to be delivered by Seller at Closing pursuant hereto.

            (b) Payment of Purchase Price, Assumption of Assumed Liabilities and
      Buyer's Closing Deliveries. In consideration for the transfer of the
      Purchased Assets, Buyer shall: (i) pay to Seller on the Closing Date Five
      Million ($5,000,000) of the Purchase Price in United States dollars by
      electronic bank transfer in immediately available funds directly to
      Seller's Account No. 00001329 at Citibank, N.A. in New York, New York, ABA
      #021000089 (Swift Code: CITIUS33); (ii) deliver to Seller the Promissory
      Note; and (iii) execute and deliver to Seller the Assignment and
      Assumption Agreement, whereby Buyer assumes the Assumed Liabilities, and
      each of the Other Agreements, as well as the certificate required by
      Section 8.1(b) and all other documents required to be delivered by Buyer
      at Closing pursuant hereto.

            (c) Regulatory Transfer. At Closing, Seller will provide to Buyer
      copies of all portions of NDA 76-1021 and the SNDAs necessary to allow
      Buyer to comply with its obligations as the application holder. Seller
      further agrees to notify the FDA of the transfer of NDA 76-1021 in
      accordance with Section 505(j) of the Federal Food, Drug and Cosmetic Act
      and 21 CFR 314.72. Buyer agrees to notify the FDA of the transfers of NDA
      76-1021 and SNDAs effective immediately upon the Closing and to submit as
      the new owner an application Form FDA 356h.

                                   ARTICLE 5

                    Representations and Warranties of Seller

      Except as set forth in the Disclosure Schedules, Seller represents and
warrants to Buyer as follows:

      5.1 Organization. Seller is a corporation duly incorporated and validly
existing in good standing under the laws of the State of Illinois, duly
qualified to transact business as a foreign corporation in such jurisdictions
where the nature of the Purchased Assets makes such qualification necessary,
except as to jurisdictions where the failure to qualify would not reasonably be
expected to have a material adverse effect on the Purchased Assets, and with all
requisite corporate power and authority to own, lease and operate the Purchased
Assets and to carry on its business relating to the Purchased Assets as now
being conducted.

      5.2 Due Authorization. Seller has full corporate power and authority to
execute, deliver and perform its obligations under this Agreement and the Other
Agreements, and the execution and delivery of this Agreement and the Other
Agreements and the performance of all of its obligations hereunder and
thereunder have been duly authorized by Seller. The signing, delivery and
performance of this Agreement and the Other Agreements by Seller is not
prohibited or limited by, and will not result in the breach of or a default
under, or conflict with any obligation of Seller with respect to the Purchased
Assets under (i) any provision of the Articles of

                                       10
<PAGE>

Incorporation or By-Laws of Seller, (ii) any material agreement or instrument to
which Seller is a party or by which it or its properties are bound, (iii) any
judgment, order, award, writ, injunction or decree of any court, governmental
body or instrumentality, or arbitrator, (iv) any Governmental Authorizations, or
(v) any applicable law, statute, ordinance, regulation or rule, and, to Seller's
Knowledge, will not result in the creation or imposition of any Encumbrance on
any of the Purchased Assets, except to the extent that any such prohibition,
limitation, breach, default or conflict would not reasonably be expected to have
a material adverse effect on the Purchased Assets. This Agreement has been, and
on the Closing Date the Other Agreements will have been, duly executed and
delivered by Seller and constitutes, or, in the case of the Other Agreements,
will constitute, the legal, valid and binding obligation of Seller, enforceable
against Seller in accordance with their respective terms, except as
enforceability may be limited or affected by applicable bankruptcy, insolvency,
moratorium, reorganization or other laws of general application relating to or
affecting creditors' rights generally.

      5.3 Inventory, Equipment and Raw Materials. The Raw Materials, references
and standards, and Stock-in-Trade transferred pursuant to Section 2.1 are in
good condition, except as would not reasonably be expected to have a material
adverse effect on such Raw Materials, references and standards or
Stock-in-Trade, respectively. The Inventory is, in all material respects, in
good and merchantable condition (it being understood that for purposes of the
foregoing representation, any Loss shall be deemed immaterial, unless the
aggregate amount arising out of such Loss is greater than $50,000), has been
manufactured and stored in compliance with all applicable laws and regulations,
and conforms to all material Governmental Authorizations; provided, however,
that the foregoing representation shall be subject to the Buyer's compliance
with any and all applicable laws and regulations relating to labeling and
packaging of the Inventory.

      5.4 Title. The Purchased Assets are owned beneficially by Seller with good
and marketable title thereto, free and clear of all Encumbrances. At the
Closing, Buyer will receive legal and beneficial title to all of the Purchased
Assets (except for (i) Contracts or any other property or rights included in the
Purchased Assets for which a necessary consent has not been obtained and (ii)
the Transferred Intellectual Property, the title of which is addressed
exclusively in Section 5.5 hereof), free and clear of all Encumbrances (except
for liens for Taxes not yet due and payable or liens contemplated by the
Security Agreement), except the Assumed Liabilities and except as set forth on
Schedule 5.4 and subject to obtaining any consents of Persons listed on Schedule
5.7.

      5.5 Intellectual Property. Except as set forth on Schedule 5.5, the
Transferred Intellectual Property is owned free and clear of all Encumbrances or
has been duly licensed for use by Seller. Except as set forth on Schedule 5.5,
to Seller's Knowledge, the Transferred Intellectual Property has not been and is
not the subject of any pending adverse claim or any threatened litigation or
claim of infringement. To Seller's Knowledge, except as set forth on Schedule
5.5, the Transferred Intellectual Property does not materially infringe on any
Intellectual Property Rights of any third party.

      5.6 Litigation. Except as set forth on Schedule 5.6, there is no
litigation, proceeding, claim or governmental investigation pending or, to
Seller's Knowledge, threatened solely or primarily with respect to the
Products.

                                       11
<PAGE>

      5.7 Consents. No notice to, filing with, authorization of, exemption by,
or consent of any Person is required for Seller to consummate the transactions
contemplated hereby.

      5.8 Brokers, Etc. No broker or investment banker acting on behalf of
Seller or under the authority of Seller is or will be entitled to any broker's
or finder's fee or any other commission or similar fee directly or indirectly
from Seller or Buyer in connection with any of the transactions contemplated
herein, other than any fee that is the sole responsibility of Seller.

      5.9 Financial Information. The unaudited statements of net revenue for the
Purchased Assets for the years ended December 31, 2003 and December 31, 2004 (i)
were prepared in accordance with GAAP as applied to the Seller's consolidated
financial statements and (ii) present fairly in all material respects the net
revenues for the Products. The costed bill of materials for the Products for
2004 (i) was prepared in a manner consistent with Seller's financial policies
and (ii) fairly reflects the cost to manufacture the Products in Seller's
facilities according to the volume and budget in place at the time the costs
were established. The data on Schedule 5.9 with respect to the sales of Products
is complete and accurate in all material respects.

      5.10 Absence of Undisclosed Liabilities. To Seller's Knowledge, Seller has
not incurred any material liabilities or obligations with respect to the
Purchased Assets (whether accrued, absolute, contingent or otherwise), which
continue to be outstanding, except as incurred in the ordinary course of
business.

      5.11 Absence of Unusual Changes and Unusual Transactions. Since January
31, 2006, except as would not reasonably be expected to have a material adverse
effect on the Purchased Assets, there has not been any material change in the
financial conditions, methods of operation, working capital, assets, employment
policies or practices or prospects of the Purchased Assets other than changes in
the ordinary course of business.

      5.12 Governmental Authorizations. Schedule 5.12 sets forth a complete list
of the material Governmental Authorizations. The Governmental Authorizations
listed in Schedule 5.12 are all the authorizations required to be in material
compliance with all laws applicable to the Purchased Assets. The Governmental
Authorizations are in full force and effect in accordance with their terms, and
there have been no material violations of such Governmental Authorizations, no
proceedings are pending or, to the Knowledge of the Seller, threatened, which
could result in their revocation or limitation and all steps have been taken and
filings made on a timely basis with respect to each Governmental Authorization
and its renewal; in each case, except as would not reasonably be expected to
have a material adverse effect on the Purchased Assets.

      5.13 Contracts. All current and complete copies of all Contracts have been
delivered to or made available to the Buyer. The Contracts are all in full force
and effect and, to Seller's Knowledge, there are no outstanding defaults or
violations under such Contracts on the part of the Seller or, to the Knowledge
of the Seller, on the part of any other party to such Contracts and there are no
current or pending negotiations with respect to the renewal, repudiation or
amendment of any Contract.

                                       12
<PAGE>

      5.14 Tax Matters. In each case except as would not reasonably be expected
to have a material adverse effect on the Purchased Assets:

            (a) To Seller's Knowledge, no failure, if any, of the Seller to duly
      and timely pay all Taxes, including all installments on account of Taxes
      for the current year, that are due and payable by it will result in an
      Encumbrance on the Purchased Assets;

            (b) To Seller's Knowledge, there are no proceedings, investigations,
      audits or claims now pending or threatened against the Seller in respect
      of any Taxes, and there are no matters under discussion, audit or appeal
      with any governmental authority relating to Taxes, which will result in an
      Encumbrance on the Purchased Assets;

            (c) To Seller's Knowledge, the Seller has duly and timely withheld
all Taxes and other amounts required by law to be withheld by it relating to the
Purchased Assets (including Taxes and other amounts relating to the Purchased
Assets required to be withheld by it in respect of any amount paid or credited
or deemed to be paid or credited by it to or for the account or benefit of any
Person, including any employees, officers or directors and any non-resident
Person), and has duly and timely remitted to the appropriate Governmental
Authority such Taxes and other amounts required by law to be remitted by it; and

            (d) To Seller's Knowledge, the Seller or Seller's Affiliates has
duly and timely collected all amounts on account of any sales or transfer taxes,
including goods and services, harmonized sales and provincial or territorial
sales taxes with respect to the Purchased Assets, required by law to be
collected by it and has duly and timely remitted to the appropriate Governmental
Authority any such amounts required by law to be remitted by it.

      5.15 Cell Banks.

      The Working Cell Banks are in viable condition as of the Closing. The
Master Cell Banks have been stored following quality procedures in accordance
with current good manufacturing practice (cGMP).

      5.16 Disclaimer. EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THIS ARTICLE 5,
SELLER IS MAKING NO REPRESENTATION OR WARRANTY AS TO THE PURCHASED ASSETS AND
BUYER ACKNOWLEDGES AND AGREES THAT, EXCEPT AS OTHERWISE PROVIDED HEREIN, SELLER
IS SELLING AND CONVEYING THE PURCHASED ASSETS ON AN "AS IS, WHERE IS" BASIS.
EXCEPT TO THE EXTENT OF THE EXPRESS REPRESENTATIONS, WARRANTIES, AGREEMENTS AND
COVENANTS CONTAINED IN THIS AGREEMENT, BUYER IS ACQUIRING THE PURCHASED ASSETS
IN RELIANCE ON ITS OWN INVESTIGATION AND ON AN "AS IS, WHERE IS" BASIS AND
WITHOUT RECOURSE AND WITHOUT ANY REPRESENTATION OR WARRANTY OF MERCHANTABILITY,
FITNESS FOR ANY PARTICULAR PURPOSE, NON INFRINGEMENT OR ANY OTHER IMPLIED OR
EXPRESS WARRANTIES WHATSOEVER. For greater certainty, nothing in this Section
5.16 shall in any way limit Seller's indemnification obligations as set forth in
Article 10.

                                       13
<PAGE>

                                   ARTICLE 6

                     Representations and Warranties of Buyer

      Buyer represents and warrants to Seller as follows:

      6.1 Organization. Buyer is a corporation duly incorporated and validly
existing in good standing under the laws of the State of Delaware, duly
qualified to transact business as a foreign corporation in all jurisdictions
except where the failure to be so qualified would not reasonably be expected to
have a material adverse effect on Buyer, and with all requisite corporate power
and authority to own, lease and operate its properties and to carry on its
business as now being conducted.

      6.2 Due Authorization. Buyer has full corporate power and authority to
execute, deliver and perform its obligations under this Agreement and the Other
Agreements and the execution and delivery of this Agreement and the Other
Agreements and the performance of all of its obligations hereunder and
thereunder has been duly authorized by Buyer. The signing, delivery and
performance of this Agreement and the Other Agreements by Buyer is not
prohibited or limited by, and will not result in the breach of or a default
under, any provision of the Articles of Incorporation or By-Laws of Buyer or of
any order, writ, injunction or decree of any court or governmental
instrumentality. This Agreement has been, and on the Closing Date the Other
Agreements will have been, duly executed and delivered by Buyer and constitutes,
or, in the case of the Other Agreements will constitute, the legal, valid and
binding obligations of Buyer, enforceable against Buyer in accordance with their
respective terms, except as enforceability may be limited or affected by
applicable bankruptcy, insolvency, moratorium, reorganization or other laws of
general application relating to or affecting creditors' rights generally.

      6.3 Consents. Except as set forth on Schedule 6.3, no notice to, filing
with, authorization of, exemption by, or consent of, any Person is required for
Buyer to consummate the transactions contemplated hereby.

      6.4 Litigation. There is no litigation, proceeding, claim or governmental
investigation pending or, to Buyer's knowledge, threatened relating to or
affecting Buyer's ability to purchase the Purchased Assets or assume the Assumed
Liabilities relating thereto.

      6.5 Breach of Representations and Warranties. Buyer has no knowledge of
any breach, or the inaccuracy, of any of the representations or warranties of
Seller set forth in this Agreement.

      6.6 Brokers, Etc. Except for fees and expenses which shall be the sole
responsibility of Buyer, no broker or investment banker acting on behalf of
Buyer or Buyer's Affiliates is or will be entitled to any broker's or finder's
fee or any other commission or similar fee directly or indirectly in connection
with any of the transactions contemplated hereby.

                                       14
<PAGE>

      6.7 Independent Investigation. In making the decision to enter into this
Agreement and the Other Agreements and to consummate the transactions
contemplated hereby and thereby, other than reliance on the representations,
warranties, covenants and obligations of Seller set forth in this Agreement and
in the Other Agreements, Buyer has relied solely on its own independent
investigation, analysis and evaluation of the Purchased Assets and Assumed
Liabilities (including Buyer's own estimate and appraisal of the value of the
financial condition, assets, operations and prospects thereof). Buyer confirms
to Seller that Buyer is sophisticated and knowledgeable in the business in which
Buyer intends to use the Purchased Assets and is capable of evaluating the
matters set forth above. Nothing in this Section 6.7, shall limit in any way the
ability of Buyer to rely upon the express representations and warranties of
Seller set forth in this Agreement.

      6.8 Indebtedness. Other than as set forth in Schedule 6.8, neither Buyer
nor its Affiliates have any Indebtedness. For purposes of this section,
"Indebtedness" shall mean (a) all indebtedness of the Buyer or its Affiliates,
whether owed to a bank or any other Person, including, without limitation,
indebtedness for borrowed money and capitalized equipment leases and (b) any
interest on any indebtedness referred to in clause (a) that has accrued and
remains unpaid beyond the due date therefor.

                                   ARTICLE 7

                    Pre-Closing Covenants of Seller and Buyer

      7.1 Corporate and Other Actions. Each of Seller and Buyer shall take, or
shall cause its respective Affiliates to take, all necessary corporate action
required to fulfill its obligations under this Agreement and the Other
Agreements and the transactions contemplated hereby and thereby.

      7.2 Consents and Approvals. Each of Seller and Buyer shall use its
reasonable best efforts to obtain all necessary consents and approvals to the
performance of its obligations under this Agreement and the Other Agreements and
the transactions contemplated hereby and thereby. Each of Seller and Buyer shall
make all filings, applications, statements, notices and reports to all federal,
state, local or foreign government agencies or entities which are required to be
made or given prior to the Closing Date by or on behalf of Seller or Buyer
pursuant to any applicable law, statute, ordinance, regulation or rule in
connection with this Agreement and the Other Agreements and the transactions
contemplated hereby and thereby.

      7.3 Competition Law Filings. Each of Buyer and Seller shall promptly
prepare and file any notification and report form required under the HSR Act and
any notification or other form required to be filed under any law or regulation
of any foreign national or supra-national competition authority, and regulations
promulgated thereunder, if applicable, and any further filing pursuant thereto
as may be necessary.

                                       15
<PAGE>
      7.4 Access to Information. Seller will permit representatives of Buyer
from and after the date hereof up to the Closing Date to have access at all
reasonable times to the books, accounts, records, properties, operations,
inventories and facilities of every kind to the extent pertaining to the
Purchased Assets, and will furnish Buyer with such financial and operating data
concerning the Purchased Assets as Buyer shall from time to time reasonably
request, subject to any confidentiality agreements entered into by Seller;
provided that under no circumstances will Seller permit Buyer to have access to
Tax returns, including related work papers, filed by Seller or its Affiliates.

      7.5 Ordinary Course of Business. Subsequent to the date hereof and prior
to the Closing Date, Seller will use reasonable efforts to continue to operate
and/or use the Purchased Assets in the usual and normal course consistent with
past practice and to maintain the Purchased Assets in substantially the same
manner as heretofore maintained.

                                    ARTICLE 8

                                   Conditions

      8.1 Conditions to Obligations of Seller. The obligations of Seller to
consummate the transactions contemplated by this Agreement shall be subject to
fulfillment at or prior to the Closing of the following conditions (any one or
more of which may be waived in whole or in part by Seller):

            (a) Performance of Agreements and Conditions. All agreements and
      covenants to be performed and satisfied by Buyer hereunder on or prior to
      the Closing Date shall have been duly performed and satisfied by Buyer in
      all material respects.

            (b) Representations and Warranties True. The representations and
      warranties of Buyer contained in this Agreement that are qualified as to
      materiality shall be true and correct, and all other representations and
      warranties of Buyer contained in this Agreement shall be true and correct
      except for breaches of, or inaccuracies in, such representations and
      warranties that, in the aggregate, would not have a material adverse
      effect on the expected benefits to Seller of the transactions contemplated
      by this Agreement taken as a whole, in each such case on and as of the
      Closing Date, with the same effect as though made on and as of the Closing
      Date, and there shall be delivered to Seller on the Closing Date a
      certificate, in form and substance reasonably satisfactory to Seller and
      its counsel duly signed by the President or Vice President of Buyer, to
      that effect.

            (c) Payment of Purchase Price. Buyer shall have paid the Purchase
      Price and assumed the Assumed Liabilities as provided in Section 4.2(b).

            (d) HSR Waiting Period. Any applicable waiting period under the HSR
      Act shall have expired without action by the Justice Department or the
      Federal Trade Commission to prevent consummation of this Agreement or
      shall have been terminated earlier.

            (e) Foreign Competition Laws. Any necessary approvals shall have
      been received or any applicable period for action shall have expired under
      the applicable laws

                                       16
<PAGE>

      or regulations of foreign national or supra-national competition
      authorities set forth on Schedule 6.7.

            (f) No Action or Proceeding. No legal or regulatory action or
      proceeding shall be pending or threatened by any Person to enjoin,
      restrict or prohibit the purchase and sale of the Purchased Assets
      contemplated hereby. No order, judgment or decree by any court or
      regulatory body shall have been entered in any action or proceeding
      instituted by any party that enjoins, restricts, or prohibits this
      Agreement or the complete consummation of the transactions as contemplated
      by this Agreement.

            (g) Other Agreements. Buyer shall have delivered to Seller a duly
      executed copy of each of the Other Agreements.

            (h) No Material Adverse Change. There shall not have been any
      material adverse change in Seller's business, financial condition,
      prospects, assets or operations relating to the Purchased Assets.

            (i) Management Approval. Seller shall have obtained the necessary
      approval to consummate the transactions contemplated hereby from its
      management.

      8.2 Conditions to Obligations of Buyer. The obligations of Buyer to
consummate the transactions contemplated by this Agreement shall be subject to
fulfillment at or prior to the Closing of the following conditions (any one or
more of which may be waived in whole or in part by Buyer):

            (a) Performance of Agreements and Covenants. All agreements and
      covenants to be performed and satisfied by Seller hereunder on or prior to
      the Closing Date shall have been duly performed and satisfied by Seller in
      all material respects.

            (b) Representations and Warranties True. The representations and
      warranties of Seller contained in this Agreement that are qualified as to
      materiality shall be true and correct, and all other representations and
      warranties of Seller contained in this Agreement shall be true and correct
      except for breaches of, or inaccuracies in, such representations and
      warranties that, in the aggregate, would not have a material adverse
      effect on the Purchased Assets taken as a whole, in each such case on and
      as of the Closing Date with the same effect as though made on and as of
      the Closing Date, and there shall be delivered by Seller on the Closing
      Date a certificate, in form and substance reasonably satisfactory to Buyer
      and its counsel, duly signed by an officer of Seller, to that effect.

            (c) Cell Bank Viability. The Working Cell Banks shall have been
      certified as being in viable condition in accordance with the procedures
      set forth in the Testing Procedures.

            (d) HSR Waiting Period. Any applicable waiting period under the HSR
      Act shall have expired without action by the Justice Department or the
      Federal Trade Commission to prevent consummation of this Agreement or
      shall have been terminated earlier.

                                       17
<PAGE>

            (e) Foreign Competition Laws. Any necessary approvals shall have
      been received or any applicable period for action shall have expired under
      the applicable laws or regulations of foreign national or supra-national
      competition authorities set forth on Schedule 6.7.

            (f) No Action or Proceeding. No legal or regulatory action or
      proceeding shall be pending or threatened by any Person to enjoin,
      restrict or prohibit the purchase and sale of the Purchased Assets
      contemplated hereby. No order, judgment or decree by any court or
      regulatory body shall have been entered in any action or proceeding
      instituted by any party that enjoins, restricts, or prohibits this
      Agreement or the complete consummation of the transactions as contemplated
      by this Agreement.

            (g) Other Agreements. Seller shall have delivered to Buyer a duly
      executed copy of each of the Other Agreements.

            (h) Board Approval. Buyer shall have obtained the necessary approval
      to consummate the transactions contemplated hereby from its board of
      directors.

            (i) Material Adverse Change. There shall not have been a material
      adverse change in the Seller's business, financial condition, prospects,
      assets or operations relating to the Purchased Assets.

                                    ARTICLE 9

                    Post-Closing Covenants, Other Agreements

      9.1 Assumed Liabilities. Buyer agrees to keep a list describing in detail
the Assumed Liabilities paid by Buyer or Buyer's Affiliates and to retain all
documentation supporting actual payment of each Assumed Liability. Buyer will
submit such list and such documentation to Seller within thirty (30) days after
the end of each calendar quarter until the Promissory Note has been paid,
satisfied or discharged by Buyer or Buyer's Affiliates.

      9.2 Availability of Records. After the Closing, Buyer, shall make
available to Seller as reasonably requested by Seller, its agents and
representatives, or as requested by any taxing authority or any governmental
authority, all information, records and documents relating to the Purchased
Assets for all periods prior to Closing and shall preserve all such information,
records and documents until the later of: (a) six (6) years after the Closing;
(b) the expiration of all statutes of limitations for Taxes for periods prior to
the Closing, or extensions thereof applicable to Seller for Tax information,
records or documents; or (c) the required retention period for all government
contract information, records or documents. Buyer shall also make available to
Seller, as reasonably requested by Seller at Seller's cost, personnel
responsible for preparing or maintaining information, records and documents, in
connection with Tax matters, governmental contracts, litigation or potential
litigation, including without limitation, product liability, general insurance
liability and automobile insurance liability. Prior to destroying any records
related to Seller for the period prior to the Closing, Buyer shall notify Seller
ninety (90) days in advance of any such proposed destruction of its intent to
destroy such records, and Buyer will permit Seller to retain any such records.
With respect to any litigation and claims that are Excluded

                                       18
<PAGE>

Liabilities, Buyer shall render at Seller's cost all reasonable assistance that
Seller may request in defending such litigation or claim and shall make
available to Seller personnel who most knowledgeable about the matter in
question.

      9.3 Use of Trade or Service Marks. Other than pursuant to the Inventory
Trademark License Agreement, neither Buyer nor any of Buyer's Affiliates shall
use or permit its distributors to use the name "Abbott Laboratories" or any
other corporate, trade or service marks or names owned or used by Seller or
Seller's Affiliates, or the ABBOKINASE(R) trademark, unless such marks or names
are specifically included in the Purchased Assets. Except to the extent
indicated on Schedule 2.1(f), all Product packaging of the Purchased Assets as
of the Closing used to package Products manufactured by Buyer or any Affiliate
of Buyer after the Closing shall bear a new code identification that indicates
the Products were manufactured by Buyer.

      9.4 Tax Matters

            (a) Bifurcation of Taxes. Subject to Section 3.4, Seller and its
      Affiliates shall be solely liable for all Taxes imposed upon Seller
      attributable to the Purchased Assets for all taxable periods ending on or
      before the Closing Date. Buyer and its Affiliates shall be solely liable
      for any Taxes imposed upon Buyer attributable to the Purchased Assets for
      any taxable year or taxable period commencing after the Closing Date.

            (b) Transfer Taxes. Buyer shall be liable for all sales, use,
      transfer and documentary taxes and recording and filing fees applicable to
      the transfer of the Purchased Assets. If (i) Buyer, in accordance with the
      Tax laws of the applicable states of the United States, timely furnishes
      to Seller a resale certificate evidencing its purchase of the Inventory
      pursuant to this Agreement for the purpose of resale in the ordinary
      course of Buyer's business, and (ii) the other Purchased Assets are exempt
      from sales, use or similar Taxes, Seller agrees not to collect sales Tax
      with respect to such Purchased Assets.

            (c) Cooperation and Records. After the Closing Date, Buyer and
      Seller shall cooperate in the filing of any Tax returns or other
      Tax-related forms or reports, to the extent any such filing requires
      providing each other with necessary relevant records and documents
      relating to the Purchased Assets. Seller and Buyer shall cooperate in the
      same manner in defending or resolving any Tax audit, examination or
      Tax-related litigation. Buyer and Seller shall cooperate in the same
      manner to minimize any transfer, sales and use Taxes. Nothing in this
      Section shall give Buyer or Seller any right to review the other's Tax
      returns or Tax related forms or reports.

            (d) Inventory Resale Certificates. At the Closing, Buyer shall
      execute and deliver to Seller resale certificates for all inventory items
      transferred to Buyer.

            (e) Bulk Sales Laws. Seller and Buyer waive compliance with bulk
      sales laws for tax purposes.

                                       19
<PAGE>

      9.5 Chargebacks. Seller shall be responsible for all Seller Chargebacks,
and Buyer shall be responsible for all Buyer Chargebacks. In the event a Seller
Chargeback is charged to Buyer, Buyer shall honor such Seller Chargeback, Buyer
shall invoice Seller for such Buyer-honored Seller Chargebacks on a monthly
basis, and Seller shall pay such invoiced amounts to Buyer within thirty (30)
days of the date of any invoice. In the event a Buyer Chargeback is charged to
Seller, Seller shall honor such Buyer Chargeback, Seller shall invoice Buyer for
such Seller-honored Buyer Chargebacks on a monthly basis, and Buyer shall pay
such invoiced amounts to Seller within thirty (30) days of the date of any
invoice provided that such invoice includes a lot number for each Product for
which a Chargeback was paid. In the event that both Buyer and Seller pay a
Chargeback to a customer, then as between Buyer and Seller, the party that sold
the lot to such customer shall be responsible for reconciling any such double
payment.

      9.6 Non-competition by Seller. Seller covenants and agrees that neither it
nor any of its Affiliates or related parties will, directly or indirectly, on
behalf of itself or any other party, sell, market, promote, distribute, license,
research or develop in the United States any Thrombolytic Therapy Product for a
period of three (3) years commencing on the Closing Date, or invest in (other
than Buyer), participate in or assist any other entity with respect to any of
the foregoing. Notwithstanding the foregoing, nothing in this Section 9.6 shall
prevent Seller from (i) acquiring a third party that derives 10% or less of its
annual net sales from the development, sale, marketing, promotion or
distribution of any Thrombolytic Therapy Product; or (ii) engaging in research,
developing, selling, marketing, promoting and/or distributing any product that
may be used on an off-label basis as a Thrombolytic Therapy Product, provided
that any such research, development, promoting and marketing is not intended for
use of the product as a Thrombolytic Therapy Product.

      9.7 Regulatory Transfer. Seller agrees to make available to Buyer at
Seller's offices all portions of the NDA 76-1021 file that Seller has not
previously delivered to Buyer pursuant to Section 4.2(c) as soon as practicable
but in no event later than 180 days after the Closing Date.

      9.8 Post-Closing Delivery. Seller agrees to store the tangible Purchased
Assets in its facilities for the benefit of Buyer for 90 days after Closing at
no cost to the Buyer; thereafter Buyer shall pay Seller an amount equal to
$1,000 per day for such storage. Buyer agrees to arrange for physical delivery
to Buyer of the tangible Purchased Assets in Seller's possession within such 90
day period. Buyer and Seller acknowledge that title and risk of loss with
respect to all Purchased Assets shall pass to Buyer at Closing. Seller agrees to
use commercially reasonable efforts to preserve and maintain the tangible
Purchased Assets in good working condition and to protect such Purchased Assets
against spoilage, deterioration and other wasting.

      9.9 Transition Services. Seller agrees to make available to Buyer, at no
cost to Buyer, personnel who are familiar with the regulatory compliance,
quality assurance, medical reporting and commercialization relating to the
Product for up to a maximum of 300 manhours for a period of time beginning 5
days after the Closing and ending on the date that is six (6) months following
the Closing Date, pursuant to which Seller personnel will provide explanations
and answer questions that are reasonably necessary to allow Buyer to effectively
identify, organize and utilize the Purchased Assets that Buyer has acquired from
Seller. In the event that Buyer desires in excess of 300 manhours for such
assistance, and Seller agrees to provide such additional assistance, Buyer shall
pay to Seller $250 per additional manhour for up to a maximum of 200

                                       20
<PAGE>

additional manhours. Buyer will reimburse Seller for all reasonable costs and
expenses relating to the travel and lodging incurred by such personnel (which
shall not be included in the fee described above). Seller will use commercially
reasonable efforts to provide these services to Buyer in a manner substantially
similar to industry standards, except to the extent the parties may otherwise
agree. The obligations of Seller under Section 2.5 shall be provided without
cost to Buyer and are in addition to the services to be provided pursuant to
this Section 9.9.

      9.10 No Other Compensation.

      Buyer hereby agrees that the terms of this Agreement and the Other
Agreements fully define all consideration, compensation and benefits, monetary
or otherwise, to be paid, granted or delivered by Buyer to Seller in connection
with the transactions contemplated herein and therein. Buyer has not previously
paid nor entered into any other commitment to pay, whether orally or in writing,
any Seller employee, directly or indirectly, any consideration, compensation or
benefits, monetary or otherwise, in connection with the transaction contemplated
herein.

                                   ARTICLE 10

                          Indemnification and Survival

      10.1 Indemnification by Seller.

            (a) Seller's Indemnity. To the extent set forth in this Section
      10.1, Seller agrees to indemnify and hold harmless Buyer and its
      Affiliates at all times against and in respect of all losses, liabilities,
      costs and expenses (including, without limitation, reasonable attorneys'
      fees) (collectively, "Losses") which Buyer or its Affiliates may suffer or
      incur to the extent arising out of or based upon (i) any breach of any of
      the representations and warranties of Seller set forth in this Agreement,
      (ii) any breach of any of the covenants and agreements of Seller set forth
      in this Agreement, (iii) any Excluded Liability, or (iv) the production,
      development, trial, research, marketing use, or distribution of the
      Products prior to the Closing Date.

            (b) Limitations on Seller's Indemnity.

                  (i) Seller shall not be liable for any Loss described in
            Section 10.1(a)(i) until the aggregate of all such Losses for which
            the Seller is liable are in excess of $250,000. Notwithstanding the
            foregoing, Seller shall not indemnify or hold harmless the Buyer or
            its Affiliates against any such individual Loss unless such Loss
            exceeds Fifty Thousand U.S. dollars ($50,000) and no such individual
            Loss of less than Fifty Thousand Dollars ($50,000) (exclusive of
            attorneys' fees) shall be considered in determining whether the
            aggregate Losses exceed the deductible set forth in the preceding
            sentence.

                  (ii) Seller's aggregate liability for all Losses described in
            Section 10.1(a)(i) shall not exceed Five Million U.S. dollars ($5.0
            million); provided, however, that upon Buyer's satisfaction of all
            of its Obligations (as defined in the Promissory Note), Seller's
            liability for such Losses shall not exceed Twenty Million U.S.
            dollars ($20.0 million).

                                       21
<PAGE>

                  (iii) Neither Seller nor Seller's Affiliates shall have
            liability to Buyer or Buyer's Affiliates for any consequential,
            incidental or punitive damages, and Losses indemnifiable hereunder
            shall not include such damages.

            (c) Notice of Claims. Buyer shall promptly notify Seller in writing
      of all matters which may give rise to the right to indemnification
      hereunder upon becoming aware of any such matters, it being understood
      that if Seller does not receive notice of any matter known to Buyer and as
      to which Buyer or its Affiliates are entitled to indemnification hereunder
      in time to contest the determination of any such liability which is
      susceptible to being successfully contested, Seller shall be relieved of
      its responsibilities hereunder to the extent such failure to deliver
      notice shall have harmed Seller. Buyer shall not admit any liability with
      respect to, or settle, compromise or discharge, any such matter covered by
      this Section 10.1 without Seller's prior written consent (which shall not
      be unreasonably withheld or delayed). Seller shall have the right, with
      the consent of Buyer (which shall not be unreasonably withheld or
      delayed), to settle all indemnifiable matters related to claims by third
      parties which are susceptible to being settled, and to defend (without the
      consent of Buyer) through counsel of its own choosing, at its own expense,
      any action which may be brought by a third party in connection therewith;
      provided, however, that Buyer shall have the right to have its counsel
      participate fully in such defense at its own expense. Buyer and Seller
      shall keep each other informed of all settlement negotiations with third
      parties regarding the provisions hereof and of the progress of any
      litigation with third parties regarding the provisions hereof. Buyer and
      Seller shall permit each other reasonable access to books and records and
      otherwise cooperate with all reasonable requests of each other in
      connection with any indemnifiable matter resulting from a claim by a third
      party.

      10.2 Indemnification by Buyer.

            (a) Buyer's Indemnity. Buyer agrees to indemnify and hold harmless
      Seller and its Affiliates at all times against and in respect of Losses
      which Seller and its Affiliates may suffer or incur to the extent arising
      out of or based upon: (i) any breach of any of the representations,
      warranties, covenants and agreements of Buyer set forth in this Agreement
      or the Other Agreements; (ii) any Assumed Liability; or (iii) the
      ownership of the Purchased Assets after the Closing Date (except Losses
      covered by Section 10.1(a)(iv)).

                                       22
<PAGE>

            (b) Limitations on Buyer's Indemnity.

                  (i) Buyer shall not be liable for any Loss described in
            Section 10.2(a)(i) until the aggregate of all such Losses for which
            the Buyer is liable are in excess of $250,000. Notwithstanding the
            foregoing, Buyer shall not indemnify or hold harmless the Seller or
            its Affiliates against any such individual Loss unless such Loss
            exceeds Fifty Thousand U.S. dollars ($50,000) and no such individual
            Loss of less than Fifty Thousand Dollars ($50,000) (exclusive of
            attorneys' fees) shall be considered in determining whether the
            aggregate Losses exceed the deductible set forth in the preceding
            sentence.

                  (ii) Buyer's aggregate liability for all Losses described in
            Section 10.2(a)(i) shall not exceed Five Million U.S. dollars ($5.0
            million); provided, however, that upon Buyer's satisfaction of all
            its Obligations (as defined in the Promissory Note), Buyer's
            liability for such Losses shall not exceed Twenty Million U.S.
            dollars ($20.0 million).

                  (iii) Neither Buyer nor Buyer's Affiliates shall have
            liability to Seller or Seller's Affiliates for any consequential,
            incidental or punitive damages, and Losses indemnifiable hereunder
            shall not include such damages.

            (c) Notice of Claims. Seller shall promptly notify Buyer in writing
      of all matters which may give rise to the right to indemnification
      hereunder upon becoming aware of any such matters, it being understood
      that if Buyer does not receive notice of any matter known to Seller and as
      to which Seller and its Affiliates is entitled to indemnification
      hereunder in time to contest the determination of any such liability which
      is susceptible to being successfully contested, Buyer shall be relieved of
      its responsibilities hereunder to the extent such failure to deliver
      notice shall have harmed Buyer . Seller shall not admit any liability with
      respect to, or settle, compromise or discharge any such matter covered by
      this Section 10.2 without Buyer's prior written consent (which shall not
      be unreasonably withheld or delayed). Buyer shall have the right, with the
      consent of Seller (which shall not be unreasonably withheld or delayed),
      to settle all indemnifiable matters related to claims by third parties
      which are susceptible to being settled, and to defend (without the consent
      of Seller) through counsel of its own choosing, at its own expense, any
      action which may be brought by a third party in connection therewith;
      provided, however, that Seller shall have the right to have its counsel
      participate fully in such defense at its own expense. Buyer and Seller
      shall keep each other informed of all settlement negotiations with third
      parties regarding the provisions hereof and of the progress of any
      litigation with third parties regarding the provisions hereof. Buyer and
      Seller shall permit each other reasonable access to books and records and
      otherwise cooperate with all reasonable requests of each other in
      connection with any indemnifiable matter resulting from a claim by a third
      party.

      10.3 Survival. The representations and warranties of the parties contained
herein shall survive the Closing for a period of eighteen (18) months at which
time they shall expire; provided, however, that claims previously made in
writing with respect to breaches of such representations and warranties shall be
indemnifiable in accordance with this Article 10. No

                                       23
<PAGE>

claim may be made based upon an alleged breach of any of such representations or
warranties whether for indemnification in respect thereof or otherwise, unless
written notice of such claim, in reasonable detail, is given to Buyer or to
Seller, as the case may be, within said eighteen (18) months period following
the Closing. The indemnification obligations of Seller for Excluded Liabilities
shall survive the Closing indefinitely.

      10.4 Exclusive Remedy. From and after the Closing, the rights and remedies
set forth in this Article 10 shall constitute the sole and exclusive rights and
remedies of Buyer and Seller with respect to this Agreement, the events giving
rise to this Agreement and the transactions contemplated hereby, except as
provided in Section 2.5.

      10.5 Net Losses and Subrogation.

            (a) Notwithstanding anything contained herein to the contrary, the
      amount of any Losses incurred or suffered by a Person entitled to
      indemnification hereunder (an "Indemnified Person") shall be calculated
      after giving effect to: (i) any insurance proceeds received by the
      Indemnified Person (or any of its Affiliates) with respect to such Losses;
      (ii) any Tax benefit actually realized by the Indemnified Person (or any
      of its Affiliates) arising from the facts or circumstances giving rise to
      such Losses; and (iii) any recoveries obtained by the Indemnified Person
      (or any of its Affiliates) from any other third party. Each Indemnified
      Person shall exercise its commercially reasonable efforts to obtain such
      proceeds, benefits and recoveries. If any such proceeds, benefits or
      recoveries are received by an Indemnified Person (or any of its
      Affiliates) with respect to any Losses after the Indemnified Person (or
      any Affiliate) has received the benefit of any indemnification hereunder
      with respect thereto, the Indemnified Person (or such Affiliate) shall pay
      to the Person providing the indemnification (the "Indemnifying Person")
      the amount of such proceeds, benefits or recoveries (up to the amount of
      the Indemnifying Person's payment).

            (b) Upon making any payment to an Indemnified Person in respect of
      any Losses, the Indemnifying Person will, to the extent of such payment,
      be subrogated to all rights of the Indemnified Person (and its Affiliates)
      against any third party in respect of the Losses to which such payment
      relates. Such Indemnified Person (and its Affiliates) and Indemnifying
      Person will execute upon request all instruments reasonably necessary to
      evidence or further perfect such subrogation rights.

      10.6 Insurance. As of the date hereof, Buyer is the named insured under
insurance policies that are in full force and effect from an insurance company
with an A.M. Best rating of A++ or A+ (superior) providing the following minimum
levels of coverage: general comprehensive liability, including product
liability, insurance covering each occurrence of bodily injury and property
damage in an amount of not less than Five Million Dollars ($5,000,000) per
occurrence and not less than Five Million Dollars ($5,000,000) in the aggregate.
Buyer shall keep such insurance policies in force during the term of its
indemnity obligations to the Seller under this Agreement and, within sixty (60)
days of the Closing Date, shall obtain general comprehensive liability,
including product liability, insurance covering each occurrence of bodily injury
and property damage in an amount of not less than Five Million Dollars
($5,000,000) per occurrence and not less than Ten Million Dollars ($10,000,000)
in the

                                       24
<PAGE>

aggregate. Buyer shall (a) cause the insurer to endorse the insurance policy to
provide for written notification to the Seller by the insurer not less than
thirty (30) days prior to cancellation, expiration or modification and (b) name
the Seller as an additional insured on the insurance policy. Buyer shall furnish
the Seller with a certificate of insurance evidencing compliance with this
Section 10.6 and referencing this Agreement within sixty (60) days of the
Closing Date or, in the event of insurance renewal, within ten (10) days of such
renewal.

                                   ARTICLE 11

                                   Termination

      11.1 Termination of Agreement. This Agreement may be terminated at any
time prior to the Closing Date with the mutual consent of Buyer and Seller.

      11.2 Automatic Termination. This Agreement shall terminate automatically
if the Closing Date shall not have occurred on or before April 28, 2006, or such
later date as shall have been agreed to by the parties hereto.

      11.3 Continuing Effectiveness. If this Agreement shall be terminated as
herein set forth, both parties agree that they will remain obligated under, and
will comply with, the provisions of Article 10 and Sections 12.2, 12.3, 12.4,
12.7, 12.9, 12.13, and 12.15.

                                   ARTICLE 12

                                  Miscellaneous

      12.1 Assignment. This Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns;
provided, however, that no assignment shall be made by either party without the
prior express written consent of the other party. Notwithstanding the foregoing,
either party may assign its rights and obligations under this Agreement without
such consent to an Affiliate or in connection with a sale, merger or other
transaction involving a transfer of substantially all of its assets; provided
that, Buyer may not assign its rights and obligations under this Agreement
without the prior written consent of Seller until such time as Buyer's
Obligations (as defined in the Promissory Note) under the Promissory Note have
been indefeasibly paid in full.

      12.2 No Press Release Without Consent. No press release related to this
Agreement or the transactions contemplated herein, or other announcement to
either the customers or suppliers of Seller or investors or potential investors
in Buyer will be issued without the joint approval of Seller and Buyer, except:
(a) any public disclosure which Seller or Buyer in its good faith judgment
believes is required by law, rule or regulation or by any stock exchange or
interdealer quotation system on which its securities are listed or quoted (in
which case the party making the disclosure will use its reasonable best efforts
to consult with the other party prior to making any such disclosure) and (b)
that Seller may make an announcement related to this Agreement and the
transactions contemplated hereby to its employees. Buyer and Seller will
cooperate to prepare a joint press release to be issued on the Closing Date or,
upon the request of Seller, at the time of the signing of this Agreement.

                                       25
<PAGE>

      12.3 Confidentiality. All information gained by either party concerning
the other as a result of the transactions contemplated hereby ("Confidential
Information"), including the execution and consummation of the transactions
contemplated hereby and the terms thereof, will be kept in strict confidence,
subject to disclosures permitted pursuant to Section 12.2. All Confidential
Information will be used only for the purpose of consummating the transactions
contemplated hereby. Following the Closing, all Confidential Information
relating to the Products disclosed by Seller to Buyer shall become the
Confidential Information of Buyer, subject to the restrictions on use and
disclosure by Seller imposed under this Section 12.3. Neither Seller nor Buyer
shall, without having previously informed the other party about the form,
content and timing of any such announcement, make any public disclosure with
respect to the Confidential Information or transactions contemplated hereby,
except:

                  (i) As may be required by (a) law, rule or regulation, (b) the
            Securities and Exchange Commission (the "SEC"), (c) the Securities
            Act or the Exchange Act, or (d) any listing agreement with the New
            York Stock Exchange, the National Association of Securities Dealers,
            Inc. or any national securities exchange to which Seller or Buyer as
            applicable, is subject; provided that, in any such event, the party
            required to make the disclosure will (I) provide the other party
            with prompt written notice of any such requirement so that such
            other party may seek a protective order or other appropriate remedy,
            (II) consult with and exercise in good faith all reasonable efforts
            to mutually agree with the other party regarding the nature, extent
            and form of such disclosure, (III) limit disclosure of Confidential
            Information to what is legally required to be disclosed, and (IV)
            exercise its best efforts to preserve the confidentiality of any
            such Confidential Information; or

                  (ii) Upon prior written approval from Seller, Buyer may
            disclose the terms of this agreement and the transactions
            contemplated hereby to an actual or prospective lender, investor,
            partner or agent, subject to a non-disclosure agreement pursuant to
            which such lender, investor, partner or agent agrees to be bound by
            the terms of this Section 12.3.

      12.4 Expenses. Subject to Section 9.4(b), each party shall bear its own
expenses with respect to the transactions contemplated by this Agreement.

      12.5 Severability. Each of the provisions contained in this Agreement
shall be severable, and the unenforceability of one shall not affect the
enforceability of any others or of the remainder of this Agreement.

      12.6 Entire Agreement. This Agreement may not be amended, supplemented or
otherwise modified except by an instrument in writing signed by all of the
parties hereto. This Agreement, the Other Agreements and the Confidentiality
Agreement contain the entire agreement of the parties hereto with respect to the
transactions covered hereby, superseding all negotiations, prior discussions and
preliminary agreements made prior to the date hereof.

                                       26
<PAGE>

      12.7 No Third Party Beneficiaries. This Agreement is for the sole benefit
of the parties hereto and their permitted assigns and nothing herein, express or
implied (including Article 10), shall give or be construed to give to any
Person, other than the parties hereto and such permitted assigns, any legal or
equitable rights hereunder.

      12.8 Waiver. The failure of any party to enforce any condition or part of
this Agreement at any time shall not be construed as a waiver of that condition
or part, nor shall it forfeit any rights to future enforcement thereof. Any
waiver hereunder shall be effective only if delivered to the other party hereto
in writing by the party making such waiver.

      12.9 Governing Law. This Agreement shall be construed and enforced in
accordance with and governed by the laws of the State of Delaware without regard
to the conflicts of laws provisions thereof.

      12.10 Headings. The headings of the sections and subsections of this
Agreement are inserted for convenience only and shall not be deemed to
constitute a part hereof.

      12.11 Counterparts. The parties may execute this Agreement in one or more
counterparts, and each fully executed counterpart shall be deemed an original.

      12.12 Further Documents. Each of Buyer and Seller will, and will cause its
respective Affiliates to, at the request of another party, execute and deliver
to such other party all such further instruments, assignments, assurances and
other documents as such other party may reasonably request in connection with
the carrying out of this Agreement and the transactions contemplated hereby.

      12.13 Notices. All communications, notices and consents provided for
herein shall be in writing and be given in person or by means of telex,
facsimile or other means of wire transmission (with request for assurance of
receipt in a manner typical with respect to communications of that type), by
overnight courier or by mail, and shall become effective: (a) on delivery if
given in person; (b) on the date of transmission if sent by telex, facsimile or
other means of wire transmission; (c) one (1) business day after delivery to the
overnight service; or (d) four (4) business days after being mailed, with proper
postage and documentation, for first-class registered or certified mail,
prepaid.

      Notices shall be addressed as follows:

      If to Buyer, to:

                                ImaRx Therapeutics, Inc.
                                1635 East 18th Street
                                Tucson, Arizona 85719
                                Attn:  Greg Cobb
                                Facsimile Number:  (520) 791-2437

                                       27
<PAGE>

      with copies to:

                                DLA Piper Rudnick Gray Cary LLP
                                701 Fifth Avenue, Ste 7000
                                Seattle, Washington 98104
                                Attn:  Jeffrey E. Harmes
                                Facsimile Number:  (206) 839-4801

      If to Seller, to:

                                Abbott Laboratories
                                100 Abbott Park Road
                                Building AP6D, Department 364
                                Abbott Park, Illinois  60064-6020
                                Attn:  General Counsel
                                Facsimile Number: (847) 938-6277

      with copies to:

                                Kirkland & Ellis LLP
                                200 East Randolph Drive
                                Chicago, Illinois  60601
                                Attn:  R. Scott Falk, P.C.
                                Facsimile Number:  (312) 861-2200

provided, however, at the time of mailing or within three business days
thereafter there is or occurs a labor dispute or other event that might
reasonably be expected to disrupt the delivery of documents by mail, any
communication, notice or consent provided for herein shall be given in person or
by means of telex, facsimile or other means of wire transmission or by overnight
courier, and further provide that if any party shall have designated a different
address by notice to the others, then to the last address so designated.

      12.14 Schedules. Buyer and Seller agree that any disclosure in any
Schedule attached hereto shall (a) constitute a disclosure under each other
Schedule referred to herein for all purposes of this Agreement, whether or not
such disclosure is specifically referenced within such other Schedule, if it is
reasonably apparent on the face of the disclosure that it is applicable to any
particular Schedule, and (b) not establish any threshold of materiality. Seller
or Buyer may, from time to time prior to or at the Closing, by notice in
accordance with the terms of this Agreement, supplement or amend any Schedule,
including one or more supplements or amendments to correct any matter which
would constitute a breach of any representation, warranty, covenant or
obligation contained herein. No such supplemental or amended Schedule shall be
deemed to cure any breach for purposes of Section 8.2(b). If, however, the
Closing occurs, any such supplement and amendment will be effective to cure and
correct for all other purposes any breach of any representation, warranty,
covenant or obligation which would have existed if Seller or Buyer had not made
such supplement or amendment, and all references to any Schedule hereto which is
supplemented or amended as provided in this Section 12.14 shall for all purposes
at and after the Closing be deemed to be a reference to such Schedule as so
supplemented or amended.

                                       28
<PAGE>

      12.15 Construction. The language in all parts of this Agreement shall be
construed, in all cases, according to its fair meaning. The parties acknowledge
that each party and its counsel have reviewed and revised this Agreement and
that any rule of construction to the effect that any ambiguities are to be
resolved against the drafting party shall not be employed in the interpretation
of this Agreement. Words in the singular shall be deemed to include the plural
and vice versa and words of one gender shall be deemed to include the other
gender as the context requires. The terms "hereof," "herein," and "herewith" and
words of similar import shall, unless otherwise stated, be construed to refer to
this Agreement as a whole (including all of the Schedules and Exhibits hereto)
and not to any particular provision of this Agreement. Article, Section, Exhibit
and Schedule references are to the Articles, Sections, Exhibits, and Schedules
to this Agreement unless otherwise specified. Unless otherwise stated, all
references to any agreement shall be deemed to include the exhibits, schedules
and annexes to such agreement. The word "including" and words of similar import
when used in this Agreement shall mean "including, without limitation," unless
the context otherwise requires or unless otherwise specified. The word "or"
shall not be exclusive. Unless otherwise specified in a particular case, the
word "days" refers to calendar days. References herein to this Agreement or any
Other Agreement shall be deemed to refer to this Agreement or such Other
Agreement as of the date of such agreement and as it may be amended thereafter,
unless otherwise specified.

                              * * * * * * * * * * *

                                       29
<PAGE>

      IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed by their respective duly authorized officers as of the date first above
written.

                                 IMARX THERAPEUTICS, INC.

                                 By:___________________________________________
                                 Name:  Evan C. Unger
                                 Title: President and Chief Executive Officer

                                 ABBOTT LABORATORIES

                                 By:___________________________________________
                                 Name:  Sean E. Murphy
                                 Title: Vice President, Global Licensing/
                                        New Business Development

<PAGE>

                        SCHEDULE 1.1 - KNOWLEDGE PERSONS

SELLER

1. John Heden

2. Mike Morrison

3. Peter Bacher

4. Patrick Podstawa

5. Brian Braun

6. Roberta Stockman

7. Rolland Carlson

<PAGE>

               SCHEDULE 2.1(b) - TRANSFERRED INTELLECTUAL PROPERTY

PATENTS

        U.S. Patent No. 5,260,872 (the "Copeland Patent")
        Wholly owned by Abbott
        Inventors: Copeland et al.
        Title:  Automated Testing System
        Issue Date:  November 9, 1993
        Expiration Date:  November 9, 2010
        No foreign corresponding patent(s) have been filed.

TRADEMARKS

None

<PAGE>

                          SCHEDULE 2.1(c) - CELL BANKS

                    CELL LINE CD 7, CD 8 AND CD1 INVENTORIES
                                     3/16/06

                                     EXPLANT

CELL LINE          NO. OF CELLS x 10(6)         APPROXIMATE NO. OF AMPULES
---------          --------------------         --------------------------
   CD 7                   100                               5
   CD 8                  274.6                              14

                      SUBCULTURE 2

CELL LINE          NO. OF CELLS x 10(6)         APPROXIMATE NO. OF AMPULES
---------          --------------------         --------------------------
   CD 7                  21771                             362
   CD 8                   4650                              77
   CD 1                  41630                             693

<PAGE>

                         SCHEDULE 2.1(d)(i) - CONTRACTS

1.    Abbokinase Fill and Finish Agreement between Hospira, Inc. and Abbott
      Laboratories, dated April 16, 2004.

2.    Clinical Study Agreement by and among Southern Illinois University,
      Memorial Medical Center, St. John's Hospital and Abbott Laboratories (Kim
      J. Hodgson, PI) dated November 25, 2003.

3.    Clinical Study Agreement between The University of Chicago and Abbott
      Laboratories (Tina Desai, PI) dated July 28, 2003.
<PAGE>

                        SCHEDULE 2.1(g) - SALES MATERIALS

1.    Seller's Siebel CRM database of sales and other information relating to
      the Product in electronic format(1)

2.    Physician call records from the Product sales force

3.    Sales training materials relating to the Product

4.    Sales territory breakouts (i.e., number of reps/regions, assigned
      accounts) relating to sales of the Product

5.    Promotional literature relating to promotion of the Product

6.    Physician detail materials relating to the Product

7.    Launch meeting materials (i.e., slides, program, hand-outs, etc.) relating
      to the Product

8.    Product label and package inserts in electronic format

----------

(1)   Seller's transfer of the Siebel CRM database hereunder does not in anyway
      constitute a license or sublicense of any Siebel software product by
      Seller to Buyer or any of its Affiliates.

<PAGE>

                     SCHEDULE 2.1(h) - PRODUCT APPLICATIONS

1.    New Drug Application 76-1021.

2.    The following supplements to NDA 76-1021 have been approved or are pending
      approval by the Food and Drug Administration (the "FDA").

<TABLE>
<CAPTION>
                        Date                                                                                 Date
   Supplement        Supplement        Type of                                                             Supplement
     Number          Submitted       Supplement                   Supplement Description                    Approved
----------------    -----------    --------------     -----------------------------------------------     ----------
<S>                 <C>            <C>                <C>                                                 <C>
     S-076           12/31/01           PAS           Provides for: (i) changes in the procurement         10/10/02
                                                      and processing of neonatal kidney cells; (ii)
                                                      improvements in the manufacture and testing of
                                                      the drug substance and drug product; (iii)
                                                      revised release specifications for the drug
                                                      substance and drug product; (iv) a revised lot
                                                      release protocol; (v) withdrawal of the
                                                      OPEN-CATH(R) dosage strengths; and (vi)
                                                      revised labeling. Labeling revisions include
                                                      updated information regarding product source
                                                      and adverse reactions, as well as withdrawal
                                                      of the coronary artery thrombosis and catheter
                                                      clearance indications.

     S-083           05/02/03          CBE-30         Provides for the addition of a 0.45 (mu)m            09/25/03
                                                      pre-filter and a 0.22 (mu)m filtration step
                                                      immediately prior to the ultrafiltration step
                                                      in the urokinase isolation process.

     S-089           09/30/03          CBE-30         Provides for the storage of the CG-50 resin at       04/01/04
                                                      an alkaline pH as an alternative regeneration
                                                      process to manage bioburden control.

     S-090           11/01/03          CBE-0          Provides for the replacement of the drug            05/03/04
                                                      substance relative amidolytic potency
                                                      specification with an amidolytic potency
                                                      specification; and to revise the drug product
                                                      bacterial endotoxin test method.
</TABLE>

<PAGE>

<TABLE>
<S>                 <C>            <C>                <C>                                                 <C>
     S-092             1/6/04           CBE-0         Provides for the revision of the lot release         7/8/04
                                                      protocol to include changes to the drug
                                                      substance specifications and drug product
                                                      bacterial endotoxin test method.

     S-095            4/26/04            PAS          Provides for the storage of drug substance at        Pending
                                                      <-50 degrees C in a Nalgene plastic bottle.

      TBD             5/19/04           CBE-30        Provides for a test location change for the          Pending
                                                      drug substance in vitro adventitious virus
                                                      test from a contract lab to Abbott Labs.
</TABLE>

<PAGE>

                        SCHEDULE 2.1(j) - STOCK-IN-TRADE

Abbokinase Lot# 15-342-S2 For Clinical Study M03-585

180 vials in Abbott's Clinical Warehouse

120 vials with Clinical Study Cooperators

<PAGE>

                         SCHEDULE 2.1(k) - RAW MATERIALS

Abbott
Code                      Unit of
Number        Qty.        Measure      Code Description        Retest
-------   ------------    -------    ---------------------     ------
72706             1.85      Ltr      TRYPSIN                    2 Year
59384        12,582.00      Ltr      Protein Hydrolysate        2 Year
11379       100,000.00      gm       Aminocaproic Acid            NA
19670     1,518,419.50      gm       Dextrose                   2 Year
13156            52.99      lt       Octyl Alcohol              2 Year
13937         2,042.57      kg       Ion Exchange Resin         2 Year
16131     1,179,540.00      ml       BEE                        1 Year
21442         1,139.00      lt       Bovine Serum               1 Year
22441     2,757,240.00      ug       EGF, Growth Factor         3 Year
23366       117,420.88      gm       Dextran, Cross Linked      2 Year
23373        95,128.60      gm       Dextran, Cross Linked      2 Year
24092         6,115.00      ml       DMSO                       2 Year
33802        30,268.00      gm       L-Glutamine                2 Year
43740       327,231.00      gm       Magnesium Sulfate          2 Year
44488     3,565,915.00      gm       MED-199                    2 Year
56664         5,944.20      gm       Phenol Red                 2 Year
66340     1,570,960.00      gm       Sodium Phosphate           2 Year
72704           856.20      gm       Trypsin Powder             2 Year
74813       200,992.60      gm       Vitamin BME                2 Year
87324        13,575.00      lt       Serum, Newborn Calf        1 Year

<PAGE>

                       SCHEDULE 2.5 - MIXED GPO CONTRACTS

1.    Agreement for Pharmaceutical Products by and between Abbott Laboratories
      Inc. and Broadlane, Inc., dated as of August 21, 2001. *

2.    Abbokinase(R) (urokinase) Contract between Good Samaritan Hospital and
      Abbott Laboratories Inc. dated as of June 25, 2003.

3.    Abbokinase(R) (urokinase) Contract between Kenosha Hospital and Medical
      Center and Abbott Laboratories Inc. dated as of Aug. 1, 2003.

4.    Abbokinase(R) (urokinase) Contract between Littleton Adventist Hospital
      and Abbott Laboratories Inc. dated as of Sept. 1, 2003.

5.    Abbokinase(R) (urokinase) Contract between Penrose St. Francis Health
      Center and Abbott Laboratories Inc. dated as of August 1, 2003.

6.    Abbokinase(R) (urokinase) Contract between Porter Adventist Hospital and
      Abbott Laboratories Inc. dated as of Sept. 1, 2003.

7.    Abbokinase(R) (urokinase) Contract between St. Anthony Central Hospital
      and Abbott Laboratories Inc. dated as of Oct. 1, 2003.

8.    Abbokinase(R) (urokinase) Contract between St. Catherine's Hospital and
      Abbott Laboratories Inc. dated as of Aug. 1, 2003.

9.    Abbokinase(R) (urokinase) Contract between St. John's Health System and
      Abbott Laboratories Inc. dated as of Oct. 22, 2002.

10.   Abbokinase(R) (urokinase) Contract between St. John's Hospital and Abbott
      Laboratories Inc. dated as of March 1, 2003.

11.   Abbokinase(R) (urokinase) Contract between St. Joseph's Medical Center and
      Abbott Laboratories Inc. dated as of Oct. 15, 2003.

12.   Abbokinase(R) (urokinase) Contract between St. Mary's Medical Center and
      Abbott Laboratories Inc. dated as of July 1, 2003.

13.   Abbokinase(R) (urokinase) Contract between St. Vincent Infirmary and
      Abbott Laboratories Inc. dated as of May 29, 2003.

14.   Vendor Agreement between Abbott Laboratories Inc. and MedAssets HSCA,
      Inc., dated as of September 3, 2002, as amended.

15.   Contract between University of Michigan Health System and Abbott
      Laboratories Inc. dated as of Oct. 1, 2004.

16.   Contract between Abbott Laboratories Inc., Pharmaceutical Products
      Division, and the State of Minnesota, Commissioner of Administration (on
      behalf of the

<PAGE>

      Minnesota Multistate Contracting Alliance for Pharmacy), dated as of June
      2, 2004.

17.   Pharmacy Supplier Agreement between Abbott Laboratories Inc. and Novation,
      LLC, dated as of March 13, 2001, as amended. *

18.   Pharmaceutical Purchasing Agreement (PACT) between Abbott Laboratories
      Inc. and Purchasing Alliance for Clinical Therapeutics, dated as of April
      1, 2004. *

19.   Group Purchasing Agreement between Abbott Laboratories Inc. and Premier
      Purchasing Partners, L.P., dated as of July 1, 1998, as amended. *

20.   Corporate Strategic Agreement between Abbott Laboratories Inc. and Johns
      Hopkins Health System Corporation, dated as of June 1, 2002.

21.   Abbokinase(R) (urokinase) Contract between HC Pharmacy and Abbott
      Laboratories Inc. dated as of May 1, 2003.

22.   Network Agreement between Abbott Laboratories and Kaiser Permanente
      Medical Care Program, dated March 16, 2006 and effective April 1, 2006. *

* INDICATES A "TOP FIVE" MIXED GPO CONTRACT FOR PURPOSES OF SECTION 2.5

<PAGE>

                              SCHEDULE 5.4 - TITLE

None.

<PAGE>

                      SCHEDULE 5.5 - INTELLECTUAL PROPERTY

None.

<PAGE>

                            SCHEDULE 5.6 - LITIGATION

None.

<PAGE>

                         SCHEDULE 5.7 - SELLER CONSENTS

1.    Abbokinase Fill and Finish Agreement between Hospira, Inc. and Abbott
      Laboratories, dated April 16, 2004.

2.    Notification to the FDA of the transfer of NDA 76-1021 will be required.

<PAGE>

                          SCHEDULE 5.9 - FINANCIAL DATA

                             ABBOKINASE SALES DATA

                                                                    Wholesaler
                                                                     Reports
                                       IMS Data a)                 To Abbott b)
                           -----------------------------------     ------------
                                Dollars              Units            Units
                           -----------------     -------------     ------------
Qtr 1, 2005                      $ 6,422,215            17,058           15,579

Qtr 2, 2005                      $ 5,066,668            13,426           11,555

Qtr 3, 2005                      $ 3,871,022            10,323           10,742

Qtr 4, 2005                      $ 3,745,832             9,808           10,275
                                 -----------           -------          -------
Total Year 2005                  $19,105,737            50,615           48,151
                                 ===========           =======          =======

Monthly Data

October, 2005                    $ 1,162,662             3,044            3,166

November, 2005                   $ 1,181,214             3,087            3,329

December, 2005                   $ 1,401,956             3,677            3,780

January, 2006                    $ 1,224,207             2,992            3,414

February, 2006                   $ 1,097,515             2,718            3,577

a)    Source: IMS Dataview

b)    Reflects sales units reported by the top 3 wholesalers (Cardinal,
      McKesson, and ABC).

<PAGE>

                   SCHEDULE 5.12 - GOVERNMENTAL AUTHORIZATIONS

None.

<PAGE>

                          SCHEDULE 6.3 - BUYER CONSENTS

1.    Approval of the board of directors of ImaRx Therapeutics, Inc.

2.    Notification to the FDA of the transfer of NDA 76-1021 will be required.

<PAGE>

                           SCHEDULE 6.8 - INDEBTEDNESS

1.    Claim for patent reimbursement by Bracco Diagnostics, Inc. against ImaRx
      Therapeutics, Inc. in the amount of $218,856.

2.    Secured Promissory Note made by ImaRx Therapeutics, Inc. in favor of
      Abbott Laboratories, dated as of September 30, 2005 in the initial
      principal amount of $15,000,000, plus accrued interest thereon.
<PAGE>

                                                                       EXHIBIT A

                     BILL OF SALE, CONVEYANCE AND ASSIGNMENT

      THIS BILL OF SALE, CONVEYANCE AND ASSIGNMENT (this "Instrument") dated as
of April 14, 2006, is made by and between Abbott Laboratories, a corporation
organized and existing under the laws of the State of Illinois and having a
principal place of business at Abbott Park, Illinois 60064 (herein referred to
as "Seller") and ImaRx Therapeutics, Inc., a corporation organized and existing
under the laws of Delaware and having a principal place of business at 1635 East
18th Street, Tucson, Arizona 85719 (herein referred to as "Buyer") and is
delivered pursuant to, and subject to the terms of, that certain Asset Purchase
Agreement, dated as of April 10, 2006 (the "Asset Purchase Agreement"), by and
between Seller and Buyer.

      The terms of the Asset Purchase Agreement are incorporated herein by
reference, and capitalized terms not otherwise defined in this Instrument shall
have the meanings given to such terms in the Asset Purchase Agreement.

      NOW, THEREFORE, subject to the terms and conditions of the Asset Purchase
Agreement and for the consideration set forth therein, Buyer and Seller each
hereby agrees as follows:

      1. Seller does hereby sell, convey, transfer, assign and deliver to Buyer,
all of its right, title and interest in the Purchased Assets.

      2. Notwithstanding anything to the contrary in this Instrument, the Asset
Purchase Agreement or in any other document delivered in connection herewith or
therewith, the Purchased Assets subject to this Instrument shall expressly
exclude the Excluded Assets.

      3. From time to time, as and when reasonably requested by Buyer, Seller
shall execute and deliver all such documents and instruments and shall take, or
cause to be taken, all such further or other actions as Buyer may reasonably
deem necessary or desirable to more effectively sell, transfer, convey and
assign to Buyer all of Seller's right, title and interest in the Purchased
Assets subject to this Instrument.

      4. This Instrument shall be governed by and construed in accordance with
the internal laws of the State of Illinois applicable to agreements made and to
be performed entirely within such State, without regard to the conflicts of laws
principles of such State.

      5. To the extent that any provision of this Instrument is inconsistent or
conflicts with the Asset Purchase Agreement, the provisions of the Asset
Purchase Agreement shall control.

                          * * * * * * * * * * * * * * *

<PAGE>

      IN WITNESS WHEREOF, this Instrument is duly executed and delivered as of
the date and year first above written.

                           ABBOTT LABORATORIES

                           By:  /s/ Sean E. Murphy
                                ------------------------------------------
                           Name:   Sean E. Murphy
                           Title:  Vice President, Global Licensing/
                                   New Business Development

                           IMARX THERAPEUTICS, INC.

                           By: /s/ Evan C. Unger
                               -------------------------------------------
                           Name:  Evan C. Unger
                           Title: President and Chief Executive Officer

<PAGE>

                                                                       EXHIBIT B

                    INTELLECTUAL PROPERTY TRANSFER AGREEMENT

            This INTELLECTUAL PROPERTY TRANSFER AGREEMENT dated as of April 14,
2006 made by Abbott Laboratories, a corporation organized and existing under the
laws of the State of Illinois and having a principal place of business at Abbott
Park, Illinois 60064 (herein referred to as "Assignor") in favor of ImaRx
Therapeutics, Inc., a corporation organized and existing under the laws of
Delaware and having a principal place of business at 1635 East 18th Street,
Tucson, Arizona 85719 (herein referred to as "Assignee").

            WHEREAS, Assignor has rights to the patent applications and issued
patents listed on Schedule 1 attached hereto (the "Patents");

            WHEREAS, Assignee desires to acquire Assignor's rights in the
Patents;

            For good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, Assignor hereby transfers, assigns, and otherwise
conveys to Assignee, all of Assignor's right, title, and interest in, to, and
under the following, subject to the limitations described below:

      1.    the Patents, including, without limitation, any continuations,
            divisions, continuations-in-part, reissues, reexaminations,
            extensions or foreign equivalents thereof, and including the subject
            matter of all claims that may be obtained therefrom, and all other
            corresponding rights that are or may be secured under the laws of
            the United States or any other jurisdiction, now or hereafter in
            effect; and

      2.    all proceeds of the assets transferred pursuant to paragraph (1)
            (collectively, the "Transferred IP"), including, without limitation,
            the right to sue for, and collect on, (i) any claim by Assignor
            against third parties for past, present, or future infringement of
            the Patents, and (ii) any income, royalties or payments due or
            payable and related exclusively to the Transferred IP as of the date
            of this assignment or thereafter.

             Assignor hereby permits the Commissioner of Patents and Trademarks
to record Assignee as the assignee and owner of the Patents and Assignor hereby
consents to such recordation.

                                   * * * * * *

<PAGE>

                                                                       EXHIBIT B

     Assignor has caused this Intellectual Property Transfer Agreement to be
duly executed and authorized as of the date hereof.

                               ABBOTT LABORATORIES

                               By: /s/ Sean E. Murphy
                                   -----------------------------------------
                               Name:  Sean E. Murphy
                               Title: Vice President, Global Licensing/
                                      New Business Development

                               IMARX THERAPEUTICS, INC.

                               By: /s/ Evan C. Unger
                                   -----------------------------------------
                               Name:  Evan C. Unger
                               Title: President and Chief Executive Officer

<PAGE>

                                                                       EXHIBIT B

                                   SCHEDULE 1

                                     PATENTS

U.S. Patent No. 5,260,872 issued November 9, 1993, entitled Automated Testing
System.

<PAGE>
                                   Exhibit C

                     Inventory Trademark License Agreement

<PAGE>
                                   Exhibit D

                                Promissory Note

<PAGE>
                                   Exhibit E

                               Security Agreement

<PAGE>
                                   Exhibit F

                                Escrow Agreement

<PAGE>

                      AMENDMENT TO ASSET PURCHASE AGREEMENT

          THIS AMENDMENT TO ASSET PURCHASE AGREEMENT (this "Amendment"), is
entered into as of this 21st day of April, 2006, and amends the Asset Purchase
Agreement, dated as of April 10, 2006 (the "Asset Purchase Agreement"), by and
between Abbott Laboratories ("Abbott") and ImaRx Therapeutics, Inc. ("ImaRx").
All capitalized terms used herein and not otherwise defined shall have the
meaning assigned to such terms in the Asset Purchase Agreement.

          WHEREAS, Abbott and ImaRx have agreed to amend certain provisions of
the Asset Purchase Agreement;

          NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereto hereby agree as
follows:

          SECTION 1. AMENDMENT OF THE ASSET PURCHASE AGREEMENT

          Effective as of the date hereof:

          1.1 Schedule 2.1 (d)(i) of the Asset Purchase Agreement is hereby
amended to delete item 1, "Abbokinase Fill and Finish Agreement between Hospira,
Inc. and Abbott Laboratories, dated April 16, 2004," thereon in its entirety.

          1.2 Schedule 5.7 of the Asset Purchase Agreement is hereby amended to
delete item 1, "Abbokinase Fill and Finish Agreement between Hospira, Inc. and
Abbott Laboratories, dated April 16, 2004," thereon in its entirety.

          SECTION 2. MISCELLANEOUS

          2.1 Except as herein expressly amended, the Asset Purchase Agreement
is ratified and confirmed in all respects and shall remain in full force and
effect in accordance with its terms.

          2.2 This Amendment may be executed by the parties hereto individually
or in combination, in one or more counterparts, each of which shall be an
original and all of which shall constitute one and the same agreement.

          2.3 Delivery of an executed counterpart of a signature page to this
Amendment by telecopier or other electronic means shall be effective as delivery
of a manually executed counterpart of this Amendment.

                      [Remainder Intentionally Left Blank.]

<PAGE>

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

                                        IMARX THERAPEUTICS, INC.

                                        By:
                                            ------------------------------------
                                        Name: Greg Cobb
                                        Title: Chief Financial Officer

                                        ABBOTT LABORATORIES

                                        By:
                                            ------------------------------------
                                        Name: Sean E. Murphy
                                        Title: Vice President, Global Licensing/
                                               New Business Development

                         SIGNATURE PAGE TO AMENDMENT TO
                            ASSET PURCHASE AGREEMENT<PAGE>

                                                                   Exhibit 10.11

                                ESCROW AGREEMENT

     THIS ESCROW AGREEMENT (the "Agreement") is made and entered into as of
April 14, 2006, by and among Abbott Laboratories, a corporation organized and
existing under the laws of the State of Illinois and having a principal place of
business at 100 Abbott Park Road, Abbott Park, Illinois 60064 ("Abbott") and
ImaRx Therapeutics, Inc., a corporation organized and existing under the laws of
Delaware and having a principal place of business at 1635 East 18th Street,
Tucson, Arizona 85719 ("ImaRx"), and LaSalle Bank National Association, a
national banking association duly organized and existing under the laws of the
United States of America, with its principal office in Chicago, Illinois (the
"Escrow Agent").

     WHEREAS, ImaRx and Abbott are parties to an Asset Purchase Agreement (the
"Purchase Agreement") dated as of April 10, 2006.

     WHEREAS, ImaRx is the maker of a Secured Promissory Note (the "Note"),
dated as of even date herewith in favor of Abbott in the principal amount of
$15,000,000.

     WHEREAS, pursuant to the terms of the Security Agreement (the "Security
Agreement") by and between Abbott and ImaRx, the Obligations (as defined in the
Note) of ImaRx are secured by the Collateral (as defined in the Security
Agreement).

     WHEREAS, among other things, the Collateral includes any and all proceeds
(the "Proceeds") from the sale or transfer of the Inventory (as defined in the
Purchase Agreement), which such Proceeds are to be held in escrow, pursuant to
the terms of the Security Agreement.

     NOW, THEREFORE, in consideration of the mutual promises contained herein
and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto agree as follows:

                                    ARTICLE I
                             ESTABLISHMENT OF ESCROW

1.1 From and after the execution of this Agreement, the following will occur,
all of which shall be acknowledged by Abbott, ImaRx, and the Escrow Agent:

     (a) Within five Business Days, ImaRx will deposit with the Escrow Agent 50%
of the proceeds of any sales of Inventory in the ordinary course of business,
consistent with past practice after ImaRx has received proceeds from such sales
equal to Five Million U.S. dollars. Such deposits, together with any investment
earnings thereon, shall hereinafter collectively be referred to as the "Escrow
Fund." ImaRx shall make the deposits referenced in this Section 1.1(a) until the
earlier of (A) the Note being repaid in full or (B) ImaRx having deposited
Fifteen Million U.S. dollars with the Escrow Agent.

     (b) Abbott and ImaRx hereby appoint the Escrow Agent, and the Escrow Agent
hereby agrees to serve, as the escrow agent and depositary subject to the terms
and conditions set forth herein. The Escrow Agent shall receive the Proceeds and
agrees to hold the Escrow Fund in a separate and distinct account (the "Escrow
Account") which, subject to the terms and

<PAGE>

conditions of this Agreement, will be available for disbursement to ImaRx or
Abbott at the Escrow Agent's office in Chicago, Illinois. The Escrow Agent shall
not distribute or release any of the Escrow Fund except in accordance with the
express terms and conditions of this Agreement.

                                   ARTICLE II
                            INVESTMENT OF ESCROW FUND

2.1 The Escrow Fund shall be invested as soon as reasonably practicable,
including income earned on said investment, in the Federated Treasury
Obligations Fund (Trust Shares).

2.2 The Escrow Agent shall not be responsible to Abbott or ImaRx or any other
person or entity for any loss or liability arising in respect of any directed
investment in Section 2.1 except to the extent that such loss or liability arose
from the Escrow Agent's gross negligence or willful misconduct.

                                   ARTICLE III
                      DISBURSEMENTS FROM THE ESCROW ACCOUNT

3.1 The Escrow Agent shall only disburse amounts held in the Escrow Account as
follows:

     (a) If on or before December 31, 2007, Abbott and ImaRx each execute and
deliver a written notice of termination (the "Repayment Notice") to the Escrow
Agent notifying the Escrow Agent of ImaRx' indefeasible payment in full of
ImaRx' Obligations under the Note, then within 2 Business Days of the date that
the Escrow Agent receives the Repayment Notice, the Escrow Agent shall deliver
the Escrow Fund to ImaRx in accordance with the instructions for payment
provided in the Repayment Notice.

     (b) If the Escrow Agent does not receive the Repayment Notice on or before
December 31, 2007, then on December 31, 2007, the Escrow Agent shall deliver the
Escrow Fund to Abbott via wire transfer of immediately available funds, in
accordance with Abbott's written instructions less the amount of any written
claim against the Escrow Fund delivered to Escrow Agent by Abbott and ImaRx
prior to such date (a "Claim), in which event the Escrow Agent shall deliver an
amount equal to the Escrow Fund less the amount of the Claim to Abbott via wire
transfer of immediately available funds, in accordance with Abbott's written
instructions, and shall hold the balance of the Escrow Fund pending resolution
of the Claim pursuant to Section 5.3.

     (c) At any time prior to December 31, 2007, ImaRx may, by delivery of
written notice to the Escrow Agent and Abbott, instruct the Escrow Agent to pay
such amounts from the Escrow Account to Abbott as ImaRx may instruct.

     (d) On the 15th day of each calendar month following the date hereof, the
Escrow Agent shall deliver to Abbott and ImaRx a statement detailing the amounts
deposited into the Escrow Account as of such date.

                                        2

<PAGE>

                                   ARTICLE IV
                             COMPENSATION; EXPENSES

4.1 In consideration for its services as Escrow Agent, the Escrow Agent shall be
entitled to receive the compensation set forth in Exhibit A hereto, as well as
the reimbursement of all reasonable out-of-pocket costs and expenses actually
incurred by the Escrow Agent in the performance of its duties hereunder. Abbott
and ImaRx shall share equally such compensation and expenses.

4.2 To the extent any amount due to the Escrow Agent pursuant to Section 4.1 is
not paid, the Escrow Agent shall notify all parties hereto and if such amount is
not paid within five (5) Business Days of such notice, then the Escrow Agent may
deduct the same from the Escrow Account. In the event that Escrow Agent has
offset such fees and expenses from the Escrow Fund, the party or parties failing
to pay the same directly to Escrow Agent shall promptly reimburse the Escrow
Fund for the same.

                                    ARTICLE V
                         EXCULPATION AND INDEMNIFICATION

5.1 The obligations and duties of the Escrow Agent are confined to those
specifically set forth in this Agreement. In the event that any of the terms and
provisions of any other agreement between any of the parties hereto conflict or
are inconsistent with any of the terms and provisions of this Agreement, the
terms and provisions of this Agreement shall govern and control in all respects.
The Escrow Agent shall not be subject to, nor be under any obligation to
ascertain or construe the terms and conditions of any other instrument, whether
or not now or hereafter deposited with or delivered to the Escrow Agent or
referred to in this Agreement, nor shall the Escrow Agent be obligated to
inquire as to the form, execution, sufficiency, or validity of any such
instrument nor to inquire as to the identity, authority, or rights of the person
or persons executing or delivering same.

5.2 The Escrow Agent shall not be personally liable for any act that it may do
or omit to do hereunder in good faith and in the exercise of its own best
judgment. Any act done or omitted to be done by the Escrow Agent pursuant to the
advice of its attorneys shall be deemed conclusively to have been performed or
omitted in good faith by the Escrow Agent.

5.3 In the event the Escrow Agent is notified of any dispute, disagreement or
legal action between Abbott and ImaRx, and any third party relating to or
arising in connection with the escrow, the Escrow Fund, or the performance of
the Escrow Agent's duties under this Agreement, the Escrow Agent will not be
required to determine the controversy or to take any action regarding it. The
Escrow Agent may hold all documents and funds and may wait for settlement of any
such controversy by final appropriate legal proceedings, arbitration, or other
means as, in the Escrow Agent's discretion, it may require. In such event, the
Escrow Agent will not be liable for interest or damage. Furthermore, the Escrow
Agent may, at its option, file an action of interpleader requiring the parties
to answer and litigate any claims and rights among themselves, provided that
such action must be brought before the Arbitrator pursuant to Article XV hereof
if the dispute involves solely Abbott and ImaRx. The Escrow Agent is authorized,
at its option, to

                                        3

<PAGE>

deposit with the Clerk of the Court or the Arbitrator, as applicable, all
documents and funds held in escrow, except all costs, expenses, charges, and
reasonable attorneys' fees incurred by the Escrow Agent due to the interpleader
action and which ImaRx agrees to pay. Upon initiating such action, the Escrow
Agent shall be fully released and discharged of and from all obligations and
liability imposed by the terms of this Agreement.

5.4 Abbott and ImaRx hereby agree, jointly and severally, to indemnify and hold
the Escrow Agent, and its directors, officers, employees, and agents, harmless
from and against all costs, damages, judgments, attorneys' fees (whether such
attorneys shall be regularly retained or specifically employed), expenses,
obligations and liabilities of every kind and nature which the Escrow Agent, and
its directors, officers, employees, and agents, may incur, sustain, or be
required to pay in connection with or arising out of this Agreement, unless the
aforementioned results from the Escrow Agent's gross negligence or willful
misconduct, and to pay the Escrow Agent on demand the amount of all such costs,
damages, judgments, attorneys' fees, expenses, obligations, and liabilities. The
foregoing indemnities in this paragraph shall survive the resignation or
substitution of the Escrow Agent or the termination of this Agreement.

                                   ARTICLE VI
                            TERMINATION OF AGREEMENT

6.1 This Agreement may be terminated at any time upon the receipt by the Escrow
Agent of three (3) Business Days prior written notice of termination by ImaRx
and Abbott directing the distribution of all assets then held by the Escrow
Agent under and pursuant to this Agreement, in accordance with the written
instructions delivered to the Escrow Agent with the notice of termination. This
Agreement shall automatically terminate if and when all amounts in the Escrow
Account (including all the securities in which any of the funds deposited into
the Escrow Account shall have been invested) shall have been distributed by the
Escrow Agent in accordance with the terms of this Agreement; provided, however,
that the rights and obligations of the parties hereto shall survive the
termination hereof.

                                   ARTICLE VII
                           RESIGNATION OF ESCROW AGENT

7.1 The Escrow Agent may resign at any time upon giving at least thirty (30)
days prior written notice to Abbott and ImaRx; provided, however, that no such
resignation shall become effective until the appointment of a successor escrow
agent which shall be accomplished as follows: Abbott and ImaRx shall use their
commercially reasonable efforts to select a successor escrow agent within thirty
(30) days after receiving such notice. If Abbott and ImaRx fail to appoint a
successor escrow agent within such time, the Escrow Agent shall have the right
to appoint a successor escrow agent. The successor escrow agent shall execute
and deliver an instrument accepting such appointment and it shall, without
further acts, be vested with all the estates, properties, rights, powers, and
duties of the predecessor escrow agent as if originally named as escrow agent.
Upon delivery of such instrument, the Escrow Agent shall be discharged from any
further duties and liability under this Agreement. The Escrow Agent shall be
paid any outstanding fees and expenses prior to transferring assets to a
successor escrow agent.

                                        4

<PAGE>

                                  ARTICLE VIII
                                     NOTICES

8.1 All notices required by this Agreement shall be in writing and shall be
deemed to have been received (a) immediately if sent by facsimile transmission
(with a confirming copy sent the same Business Day by registered or certified
mail or by nationally recognized overnight courier), or by hand delivery (with
signed return receipt), or (b) the next Business Day if sent by nationally
recognized overnight courier, in any case to the respective addresses as
follows:

     If to Abbott to:        Abbott Laboratories
                             100 Abbott Park Road
                             Building AP6D, Department 364
                             Abbott Park, Illinois 60064-6020
                             Attn: General Counsel
                             Facsimile: 847-938-6277

     With a copy to:         Kirkland & Ellis LLP
                             200 East Randolph Drive
                             Chicago, Illinois 60601
                             Attn: R. Scott Falk, P.C.
                             Facsimile: 312-861-2200

     If to ImaRx, to:        ImaRx Therapeutics, Inc.
                             1635 East 18th Street
                             Tucson, Arizona 85719
                             Attn: Greg Cobb
                             Facsimile Number: (520) 791-2437

     With a copy to:         DLA Piper Rudnick Gray Cary LLP
                             701 Fifth Avenue, Ste 7000
                             Seattle, Washington 98104
                             Attn: Jeffrey E. Harmes
                             Facsimile Number: (206) 839-4801

     If to the Escrow Agent: LaSalle Bank National Association
                             135 South LaSalle Street
                             Suite 1960
                             Chicago, IL 60603
                             Attention: Sue Strack
                             Telephone: (312) 904-4570
                             Fax: (312) 904-2236

                                        5

<PAGE>

                                   ARTICLE IX
                                  GOVERNING LAW

9.1 This Agreement shall be governed by and construed in accordance with the
laws of the State of Delaware and the parties hereto consent to jurisdiction in
the State of Illinois and venue in any state or federal court located in the
City of Chicago.

                                    ARTICLE X
                              AUTOMATIC SUCCESSION

10.1 Any bank or corporation into which the Escrow Agent may be merged or with
which it may be consolidated, or any bank or corporation to whom the Escrow
Agent may transfer a substantial amount of its Escrow business, shall be the
successor to the Escrow Agent without the execution or filing of any paper or
any further act on the part of any of the parties, anything herein to the
contrary notwithstanding.

                                   ARTICLE XI
                           AMENDMENT AND MODIFICATION

11.1 Abbott, ImaRx and the Escrow Agent may amend, modify, and/or supplement
this Agreement as they may mutually agree in writing.

                                   ARTICLE XII
                                  COUNTERPARTS

12.1 This Agreement may be executed in one or more counterparts, each of which
shall be deemed an original, but all of which together shall constitute but one
and the same Agreement.

                                  ARTICLE XIII
                                 INTERPRETATION

13.1 The headings used in this Agreement are for convenience only and shall not
constitute a part of this Agreement.

13.2 As used in this Agreement, "Business Day" means a day other than a
Saturday, Sunday, or other day when banking institutions in Chicago, Illinois
are authorized or required by law or executive order to be closed.

                                   ARTICLE XIV
                                  SEVERABILITY

14.1 The parties agree that if any provision of this Agreement shall under any
circumstances be deemed invalid or inoperative this Agreement shall be construed
with the invalid or inoperative provisions deleted and the rights and
obligations of the parties shall be construed and enforced accordingly.

                                        6

<PAGE>

                                   ARTICLE XV
                             RESOLUTION OF DISPUTES

15.1 Any controversy or claim arising out of or relating to this Agreement, or
the breach hereof, or any unilateral Repayment Notice, shall be settled by
arbitration in accordance with commercial rules of the American Arbitration
Association ("AAA"). Arbitration proceedings conducted pursuant to this Article
XV shall be held in Chicago, Illinois.

15.2 Arbitrations shall be conducted by a single arbitrator (the "Arbitrator")
selected at random from a list of arbitrators maintained in the office of AAA in
Chicago, Illinois. The Arbitrator must be a person experienced in corporate law
or the law of commercial finance and must have served as an arbitrator in not
less than three prior commercial arbitrations involving primarily questions of
commercial or corporate law conducted under the AAA rules. The Arbitrator may
not be a person who ever has been an affiliate of or attorney for any party or
for any of their respective affiliates.

15.3 The parties shall allow and participate in discovery in accordance with the
United States Federal Rules of Civil Procedure for a period of 90 days after the
filing of an answer or other responsive pleading. Unresolved discovery disputes
may be brought to the attention of the Arbitrator for resolution.

15.4 Any provisional remedy that would be available from a court of law shall be
available from the Arbitrator to the parties pending arbitration. Any party may,
without inconsistency with this Agreement, apply to any court of proper
jurisdiction and seek injunctive relief to maintain the status quo until the
arbitration award is rendered or the controversy is otherwise resolved.

15.5 The Arbitrator's award shall be made in writing, but shall not make any
findings of fact or conclusions of law. The Arbitrator shall have no authority
to award punitive or other damages not measured by the prevailing party's actual
damages and may not, in any event, make any ruling, finding, or award that does
not conform to the terms and conditions of this Agreement and the Note and
Security Agreement. Judgment on any arbitration award may be entered by the
Arbitrator or by any party in any court having jurisdiction thereof. No party or
Arbitrator may disclose the existence, content, or results of any arbitration or
arbitration award without the prior written consent of both parties except to
the extent necessary to enter and enforce a judgment based upon such award.

15.6 The award of the Arbitrator shall be final and not subject to appeal. Each
party hereby waives the benefit of any applicable law that would permit it to
appeal the decision of the Arbitrator to any court or other authority.

15.7 All fees and expenses of the arbitration shall be borne by the parties
equally. However, each party shall bear the expense of its own counsel, experts,
witnesses, and preparation and presentation of proofs. Notwithstanding the
foregoing, the Arbitrator shall be entitled to tax and assess costs against any
party (including the fees of attorneys and arbitrators) to the extent that the
Arbitrator finds that such party delivered a unilateral Repayment Notice, on a
basis which

                                        7

<PAGE>

was unreasonable, speculative or primarily for the purpose of delaying the
exercise of rights by the prevailing party.

15.8 The provisions of this Article XV shall survive termination of this
Agreement. Any dispute regarding the applicability of this Article XV to a
particular claim or controversy shall be arbitrated as provided in this Article
XV.

                      [The next page is the signature page]

                                        8

<PAGE>

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

                                        ABBOTT LABORATORIES

                                        By: /s/ Sean E. Murphy
                                            ------------------------------------
                                        Name: Sean E. Murphy
                                        Title: Vice President, Global Licensing/
                                               NewBusiness Development

                                        IMARX THERAPEUTICS, INC.

                                        By: /s/ Evan C. Unger
                                            ------------------------------------
                                        Name: Evan C. Unger
                                        Title: President and Chief Executive
                                               Officer

                                        LASALLE BANK NATIONAL ASSOCIATION,
                                        solely as Escrow Agent hereunder and
                                        not in its individual capacity

                                        By: /s/ R.C. Gergman
                                            ------------------------------------
                                        Name: R. C. Bergman
                                        Title: First Vice President

<PAGE>

                                    EXHIBIT A

                                  ESCROW AGENT
                                SCHEDULE OF FEES

<TABLE>
<S>                               <C>
Acceptance Fee:                   $500.00*
Annual Administration Fee:        $2,500.00*
1099 Preparation and Reporting:   $5.00 each; $250.00 Annual Minimum (applied
                                  only if any are prepared)
</TABLE>

*    The Acceptance and first year's Annual Administration Fees are due upon
     execution of the Escrow Agreement.

Any investment transaction not in a money market fund or a LaSalle Enhanced
Liquidity Management account will incur a $150.00 per transaction fee. The
parties to the agreement understand and agree that the Escrow Agent may receive
certain revenue on certain mutual fund investments. These revenues take one of
two forms:

Shareholder Servicing Payments: The Escrow Agent may receive Shareholder
Servicing Payments as compensation for providing certain services for the
benefit of the Money Market Fund Company. Shareholder Services typically
provided by LaSalle Bank include the maintenance of shareholder ownership
records, distributing prospectuses and other shareholder information materials
to investors and handling proxy-voting materials. Typically Shareholder
Servicing payments are paid under a Money Market Fund's 12b-1 distribution plan
and impact the investment performance of the Fund by the amount of the fee. The
shareholder servicing fee payable from any money market fund is detailed in the
Fund's prospectus that will be provided to you.

Revenue Sharing Payments: The Escrow Agent may receive revenue sharing payments
from a Money Market Fund Company. These payments represent a real location to
the Escrow Agent of a portion of the compensation payable to the fund company in
connection with your account's money market fund investment. Revenue Sharing
payments constitute a form of fee sharing between the fund company and the
Escrow Agent and do not, as a general rule, result in any additional charge or
expense in connection with a money market fund investment, are not paid under a
12b-1 plan, and do not impact the investment performance of the Fund. The amount
of any revenue share, if any, payable to the Escrow Agent with respect to your
account's investments is available upon request.

All out-of-pocket expenses will be billed at the Escrow Agent's cost.
Out-of-pocket expenses include, but are not limited to, professional services
(e.g. legal or accounting), travel expenses, postage (including express mail and
overnight delivery charges), and copying charges.

                                       10

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