Document:

<PAGE>

                                                                    Exhibit 10.1

                                SECOND AMENDMENT
                                ----------------

      This Second Amendment pertains to the License Agreement (hereinafter the
"License Agreement") effective December 16, 1996 and the First Amendment to the
License Agreement effective December 30, 1999 by and between the MASSACHUSETTS
INSTITUTE OF TECHNOLOGY (hereinafter referred to M.I.T.) and ORASOMAL
TECHNOLOGIES, INC., a subsidiary of Endorex Corporation, (hereinafter referred
to as LICENSEE)

      WHEREAS, LICENSEE has pursued diligently the development of the
polymerized liposome technology for both orally and intranasally administered
vaccines and orally administered peptide and protein therapeutics as described
in ATTACHMENT A, but is not yet ready to enter, per the terms of section 3.4,
into clinical trials.

NOW, THEREFORE, inconsideration of the modifications contained herein, the
parties hereby agree:

        1.  To modify the License Agreement by deleting Paragraph 3.4 in its
            entirety and substituting therefore the following:

               3.4  On or before January 1, 2006, LICENSEE will enter Phase I
               clinical trials or equivalent on the U.S. or other Major Country
               for at least one application of the technology described in the
               Patent Rights.

        2.  To modify Sections 4.1c and 4.1d, such that the License Maintenance
            Fees due on January 1st in each of the years through, and including,
            the year in which the obligation of Section 3.4 is fulfilled, will
            be Twenty Thousand Dollars ($20,000).

        3.  Should LICENSEE enter into Phase I clinical trials on or before the
            above January 1, 2006, the license maintenance fee(s) due on any
            forthcoming January 1st shall again be Ten Thousand Dollars
            ($10,000).

      All other terms and conditions of the above referenced License Agreement
remain unchanged and in full force and effect.

      The Effective Date of this Second Amendment as October 31, 2001.

Agreed to for M.I.T. by:               Agreed to for LICENSEE by:

MASSACHUSETTS INSTITUTE OF             ORASOMAL TECHNOLOGIES, INC.
TECHNOLOGY

            /s/ Lita Nelsen                       /s/ Michael S. Rosen
By___________________________________  By_______________________________________
              Lita L. Nelsen                         Michael S. Rosen
Name_________________________________  Name_____________________________________
                  Director
        Technology Licensing Office                    President/CEO
Title________________________________  Title____________________________________
             October 26, 2001                         October 29, 2001
Date_________________________________  Date_____________________________________

<PAGE>

                                  ATTACHMENT A

  Oral Delivery of Peptide/Protein Drugs and Vaccines in Polymerized Liposomes

                      Progress Report on MIT license #6388

                                October 31, 2001

       In November of 1999, Orasomal Technologies (Orasomal), a subsidiary of
Endorex Corporation, requested a two-year extension under clause 3.4 of its
exclusive license agreement with M.I.T., which stipulates a requirement to enter
into human clinical development with the licensed technology. This extension
will be effective until January 1, 2002. At this time, Orasomal has not yet
entered into clinical trials with the technology and is requesting a further
extension.

Preclinical development

       Orasomal and Endorex Corporation have pursued diligently the development
of the polymerized liposome technology for both orally and intranasally
administered vaccines and orally administered peptide and protein therapeutics.
Studies to date have been confined to either peroral and intranasal
administration of vaccines in inbred mice or peroral and intraduodenal
administration of drugs in rats. As Orasomal identifies suitable candidates,
further animal models will be employed in advancing the technology to clinical
development.

Vaccines: Joint venture with Elan.

       As mentioned in the progress report of November 1999, Orasomal had
entered into a corporate joint venture with Elan Corporation (Dublin, Ireland)
to develop technology exclusively for human oral or mucosal vaccines. The joint
venture (Innovaccines Corporation) has been operational since January of 1998.
Innovaccines consists of R&D operations in both Dublin, where cellular ligands
for gastrointestinal targeting and process development and scale-up occurs and
in Orasomal headquarters in Illinois, where liposome formulations have been
developed, analyzed, and evaluated in animals.

       For purposes of conducting proof of concept human clinical trials,
Innovaccines sought to develop either an orally or intranasally administered
prototype vaccine for tetanus. Successful demonstration of tetanus vaccine
safety and immunogenicity would be followed by further efficacy trials with
tetanus or antigen combinations. Concurrently, Innovaccines began work for the
development of an oral pertussis vaccine and sought ways to combine antigens
into a single oral vaccine.

       The JV conducted numerous animal efficacy trials during 1999, 2000 and
2001, demonstrating the potential of antigen encapsulated in polymerized
liposomes to deliver tetanus antigen orally as well as intranasally. Animal
experiments in mice indicated

<PAGE>

modest immunogenicity with tetanus antigen encapsulated in polymerized
liposomes, whereas best results were obtained with liposomes containing
lipophilic immunostimulatory adjuvants. A variety of liposomal formulations
were developed and evaluated using a clinically relevant lipophilic adjuvant
(monophosphoryl Lipid A, MPL) and a muramyldipeptide-based adjuvant
(Theramide(TM)). In separate animal experiments with adjuvant containing
formulations, 10% to 100% seroconversion was observed by oral vaccination. A
greater proportion of animals usually seroconverted by the nasal route. Minimum
criteria of animal efficacy were set such that an orally administered
formulation would not be advanced to clinical testing unless it had reproducibly
demonstrated at least 60% seroconversion with no more than 10-fold the amount of
antigen of the injected vaccine dose. As these criteria were not uniformly met,
Innovaccines developed more rigorous process controls and analytical procedures
for physically testing formulations. At this time, rigorous evaluation of
polymerized liposomes in comparison to unpolymerized liposome controls has been
completed. These results indicate that highly stable polymerized liposomes are
not effective for oral vaccination, with tetanus antigen. Consequently, less
stable liposome vehicles are thought to be potentially more relevant for
clinical development. As stability of encapsulated antigen in the
gastrointestinal tract is still considered important for oral vaccination,
Innovaccines is developing polymerized liposomes with low to moderate degrees of
stability and has switched its focus to lipophilic antigens (such as influenza
virus hemagglutinin).

       Synthetic enterocyte of M-cell binding peptides have been identified.
Several of these peptides further characterized in rat ileal loop experiments
have been modified and covalently linked to the surface of vaccine candidate
liposomes. Evaluation of the targeting aspect of polymerized liposome vaccine
development is ongoing and will be reported in the next update.

       In summary, none of the polymerized liposome tetanus vaccine formulations
has met minimum criteria for clinical development. Continuing work for
increasing absorption of large molecules into mucosal lymphoid tissue will
identify a suitable clinical candidate.

Toxicology

       As polymerizable phospholipids and fatty acids have not yet been
classified as "GRAS" (generally regarded as safe), proper in vivo and in vitro
toxicology studies are necessary prior to clinical evaluation. All of the
candidate highly polymerized liposomes as well as the unpolymerized counterparts
have passed initial Ames testing, indicating little potential of these lipids
for mutagenicity or carcinogenicity. A full battery of toxicology tests will be
performed when an efficacious clinical candidate is identified.

Delivery of other protein or peptide therapeutics.

Human Growth Hormone

<PAGE>

       In December of 1999, Orasomal entered into R&D collaboration with Novo
Nordisk (NN) for the evaluation and development of orally administered human
growth hormone (hGH). Orasomal provided NN with preliminary preclinical data
demonstrating significant oral bioavailability of human growth hormone
encapsulated in polymerized liposomes. NN has since provided Orasomal with
sufficient quantities of purified growth hormone for both basic and scaled-up
formulations to replicate the original preliminary results and to move into oral
bioavailability testing in dogs and subsequently humans. Using the process
improvements and assay methodology developed for encapsulation and analysis of
tetanus toxoid antigen. Orasomal has applied similar techniques to growth
hormone and has achieved liposomal entrapment of biologically active growth
hormone in sufficient quantities for further animal evaluation. A rat model for
oral and regional gastrointestinal absorption has been employed in the latest
studies, in which formulations have been directly administered into the duodenum
via a surgically implanted cannula. Similar to tetanus vaccine studies, highly
stable polymerized liposomes are not effective to deliver growth hormone
intraduodenally or upon peroral administration. Unpolymerized or partially
polymerized liposomes, however, can deliver less than 1% hGH in the plasma
relative to injected controls. However, inconsistency and irreproducibility in
the absorption data were observed. Currently, the levels of hGH achieved in the
blood are not at the stage for clinical development.

Small Peptide and Lipophilic Drugs

       The original hypothesis for the use of polymerized liposomes involved
high stability in the gastrointestinal tract and high level of uptake of the
intact liposomes through endocytotic mechanism through enterocytes or M cells in
the intestinal Peyer's patches. In that case, size of the molecular payload was
secondary to the mechanism of particle endocytosis. Orasomal, based on available
data to date, believes that other mechanism(s) for liposome interaction with GI
mucosa are possible. Thus, molecular size may be an additional factor to
consider as it has been demonstrated in the literature for the intestinal
permeation of peptides and protein molecules using particulate systems.
Consequently, smaller therapeutic peptides may be more suitable candidates than
tetanus toxoid (M.W. - 150 kd) of hGH (M.W. 21 kd). Orasomal is pursuing that
hypothesis with low to moderately polymerized liposomes as well as tightly
cross-linked liposomes with LHRH (lutenizing hormone releasing hormone) as a
potential oral peptide to replace current implantable LHRH for endometriosis or
prostate cancer. In addition to LHRH, Orasomal is also pursuing oral insulin
(M.W. - 5000 kd).

       Results of these evaluations will be provided during the next progress
report.

Patents

Orasomal has been responsible for prosecution of the original Langer polymerized
liposome application. There are currently three issued U.S. patents and one
C.I.P. pending for the technology licensed. One patent issued in 1998
(5,762,904). Since 1999, two of these patents have issued in the U.S.: 6,004,534
(12/21/99) and 6,060,082 (5/9/00). The latter two patents describe the use of
polymerized liposomes targeted with

<PAGE>

specific lectins. Claims directed as use of any targeting ligand and any lectin
are being aggressively pursued in the C.I.P.

Expenses

On the attached page, the total accumulated expenses for the development of the
polymerized liposome technology are detailed.

Infrastructure

Orasomal has been operated as a subsidiary of Endorex Corporation since
inception.

Meetings and Publications

Since the last update, data describing oral and nasal vaccines and drug delivery
has been presented at several scientific meetings:

1.  UK/Ireland CRS meeting 1/00.
2.  ACS drug delivery meeting, San Francisco, 3/00.

Additional presentations in numerous corporate business development meetings and
investor meetings have also occurred. Recent publications from Orasomal or
Innovaccines describing this technology are as follows.

Clark, M.A., Blair, H., Liang, L., Brey, R.N. et al. 2001. Targeting polymerized
liposome vaccine carriers to intestinal M cells. Vaccine, in press.

Lasic, D.D., E. Bolotin, and R. N. Brey. 2000. Polymerized liposomes: from
biophysics to applications. Part 1. Chemistry Today. November/December, 2000.
Part 2, Feb-March 2001.

Brey, R. N. 2000. Polymerized liposomes as vehicles for mucosal delivery of
complex molecules. 2000. Pharma Tech. 2000. 172-176.

<PAGE>

                                  ATTACHMENT B

Orasomal Technologies, Inc.
Contributions by Endorex Corporation
as of October 18, 2001

<TABLE>
<S>                                                   <C>
License fees to MIT                                   $   38,328
Research funding to John Hopkins                         134,332

Other outside research                                   536,795

Consulting by Dr. Robert Langer and Dr. Henry Brem     1,049,996
Other consultants and Scientific Advisory Board          205,893
R&D personnel                                          3,121,095
R&D laboratory                                         1,243,927
Patent expenditures                                       42,513
Senior management, finance and business development    1,546,647
Interest on loan from Endorex                          1,158,530
                                                      ----------
Total contributions                                   $9,078,055
                                                      ==========
</TABLE>Exhibit 10.20.5

                      THE AMERICAN INSTITUTE OF ARCHITECTS
------------------------------------------------------------------
                             AIA DOCUMENT A117-1987
                      Abbreviated Form of Agreement Between
                              Owner and Contractor
                                       for
                     CONSTRUCTION PROJECTS OF LIMITED SCOPE
                        where the basis of payment is the
                           COST OF THE WORK PLUS A FEE
                   with or without a Guaranteed Maximum Price

                                  1987 EDITION

THIS DOCUMENT HAS IMPORTANT LEGAL CONSEQUENCES; CONSULTATION WITH AN ATTORNEY IS
ENCOURAGED WITH RESPECT TO ITS COMPLETION OR MODIFICATION.

This document includes abbreviated General Conditions and should not be used
    with other general conditions. It has been approved and endorsed by The
                   Associated General Contractors of America.
-------------------------------------------------------------------------------
AGREEMENT

made as of the 23rd day of April  in the year of Two Thousand and One.

BETWEEN the Owner:                  Roberts Properties, Inc.
                                    8010 Roswell Road, Suite 120
                                    Atlanta, Georgia  30350

and the Contractor:                 Roberts Properties Construction, Inc.
                                    8010 Roswell Road, Suite 120
                                    Atlanta, Georgia  30350

The Project is:                     Northridge Pointe Headquarters Building
                                    450 Northridge Parkway
                                    Atlanta, Georgia 30350

The Architect is:                   Lyman Davidson Dooley, Inc.
                                    1640 Powers Ferry Road
                                    Building 1, Suite 100
                                    Marietta, Georgia 30067

The Owner and Contractor agree as set forth below.

<PAGE>

                                    ARTICLE 1
                            THE WORK OF THIS CONTRACT

1.1      The Contractor shall execute the entire Work described in the
Contract Documents, except to the extent specifically indicated in the Contract
Documents to be the responsibility of others, or as follows:

All site clearing, grading, utilities, paving, curb and gutters, landscaping,
etc. associated with the construction of a 39,907 gross square foot office
building. The property consists of 4.101 acres of land located on Northridge
Parkway in Land Lots 25 and 26 of the 17th District, Fulton County, Georgia.
Project is to be constructed in accordance with the Plans & Specifications to be
prepared by Lyman Davidson Dooley, Inc. entitled "Roberts Properties, Inc.
Corporate Headquarters, Fulton County", last revised January 31, 2001.

Any adverse soil conditions that may be encountered are included in this Cost
Plus Contract; any costs associated with those conditions shall be borne by the
Owner.

                                    ARTICLE 2
                           RELATIONSHIP OF THE PARTIES

2.1      The Contractor accepts the relationship of trust and confidence
established by this Agreement and covenants with the Owner to cooperate with the
Architect and utilize the Contractor's best skill and judgment in furthering the
interests of the Owner; to furnish efficient business administration and
supervision; to make best efforts to furnish at all times an adequate supply of
workers and materials; and to perform the Work in the best way and most
expeditious and economical manner consistent with the interests of the Owner.
The Owner agrees to exercise best efforts to enable the Contractor to perform
the Work in the best way and most expeditious manner by furnishing and approving
in a timely way information required by the Contractor and making payments to
the Contractor in accordance with the requirements of the Contract Documents.

                                    ARTICLE 3
                 DATE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION

3.1      The date of commencement is the date from which the Contract Time of
Paragraph 3.2 is measured, and shall be the date of this Agreement, as first
written above, unless a different date is stated below or provision is made for
the date to be fixed in a notice to proceed issued by the Owner.

The Date of Commencement shall be the first day after both parties have signed
the original Agreement or a later date agreed upon by both parties. Contractor
must file a Notice of Commencement per Georgia Law. A recorded copy will be
maintained in the Contractor's file and on the jobsite.

3.2      The Contractor shall achieve Substantial Completion of the entire
Work not later than 18 months after the Date of Commencement, subject to
adjustment of this Contract Time as provided in the Contract Documents.

<PAGE>

                                    ARTICLE 4
                                  CONTRACT SUM

4.1      The Owner shall pay the Contractor in current funds for the
Contractor's performance of the Contract the Contract Sum consisting of the Cost
of the Work as defined in Article 5 and the Contractor's Fee determined as
follows:

The Contractor shall be paid monthly on a cost basis, payable on the 10th of
each month unless the 10th falls on the weekend, then payment shall be due on
the next business day. The Contractor shall submit an invoice to the Owner no
later than the 1st of the following month for all expenses incurred in the
preceding month. This invoice shall include a detailed listing of all expenses,
which shall include invoice numbers, dates, supplier or subcontractor
identification and amount due.

4.2      GUARANTEED MAXIMUM PRICE (IF APPLICABLE)

4.2.1    The sum of the Cost of the Work and the Contractor's Fee is
guaranteed by the Contractor not to exceed N/A Dollars ($ N/A ), subject to
additions and deductions by Change Order as provided in the Contract
Documents. Such maximum sum is referred to in the Contract Documents as the
Guaranteed Maximum Price. Costs which would cause the Guaranteed Maximum Price
to be exceeded shall be paid by the Contractor without reimbursement by the
Owner.

                  N/A

4.2.2    The Guaranteed Maximum Price is based upon the following alternates,
if any, which are described in the Contract Documents and are hereby accepted by
the Owner:

                  N/A

4.2.3    The amounts agreed to for unit prices, if any, are:

                  N/A

                                    ARTICLE 5
                             COSTS TO BE REIMBURSED

5.1      The term "Cost of the Work" shall mean costs necessarily incurred by
the Contractor in the proper performance of the Work. Such costs shall be at
rates not higher than the standard paid at the place of the Project except with
prior consent of the Owner. The Cost of the Work shall include only the items
set forth in this Article 5.

5.1.1    Wages of construction workers directly employed by the Contractor to
perform the construction of the Work, including welfare, unemployment
compensation, social security and other benefits.

5.1.2    Costs, including transportation, of materials and equipment
incorporated or to be incorporated in the completed construction. All discounts
for cash for prompt payment shall accrue to the Contractor.

<PAGE>

5.1.3    Payments made by the Contractor to Subcontractors in accordance with
the requirements of the subcontracts.

5.1.4     Costs of all materials, temporary facilities, equipment and hand
tools not customarily owned by the construction workers, which are provided by
the Contractor at the site and fully consumed in the performance of the Work.

5.1.5     Reasonable rental costs for necessary temporary facilities,
machinery, equipment, and hand tools used at the site of the Work, whether
rented from the Contractor or others. Rates and quantities of equipment rented
shall be subject to the Contractor's prior approval.

5.1.6     That portion directly attributable to this Contract of premiums for
insurance and bonds.

5.1.7     Losses and expenses not compensated by insurance or otherwise,
sustained by the Contractor in connection with the Work, provided they have
resulted from causes other than the fault or neglect of the Contractor.

5.1.8     Costs of removal of debris from the site.

5.1.9     Costs incurred in taking action to prevent threatened damage, injury
or loss in case of an emergency affecting the safety of persons and property.

5.1.10     Other costs incurred in the performance of the Work if and to the
extent approved in advance in writing by the Owner.

                                    ARTICLE 6
                           COSTS NOT TO BE REIMBURSED

6.1      The Cost of Work shall not include:

6.1.1    Salaries and other compensation of the Contractor's personnel
stationed at the Contractor's principal office or offices other than the site
office, with the exception of the Vice President of Estimating.

6.1.2    Expenses of the Contractor's principal office and offices other than
the site office.

6.1.3    Overhead and general expenses, except as may be expressly included in
Article 5.

6.1.4    The Contractor's capital expenses, including interest on the
Contractor's capital employed for the Work.

6.1.5    Costs due to the fault or negligence of the Contractor,
Subcontractors, anyone directly or indirectly employed by any of them, or for
whose acts any of them may be liable, including but not limited to, costs for
correction of damaged, defective or nonconforming Work, disposal and replacement
of materials and equipment incorrectly ordered or supplied, and making good
damage to property not forming part of the Work.

6.1.6    Any cost not specifically and expressly described in Article 5.

6.1.7    Costs which would cause the Guaranteed Maximum Price, if any, to be
exceeded.

<PAGE>

                                    ARTICLE 7
                         DISCOUNTS, REBATES AND REFUNDS

7.1      Cash discounts obtained on payments made by the Contractor shall
accrue to the Owner if (1) before making the payment, the Contractor included
them in an Application for Payment and received payment therefor from the Owner,
or (2) the Owner has deposited funds with the Contractor with which to make
payments; otherwise, cash discounts shall accrue to the Contractor. Trade
discounts, rebates, refunds and amounts received from sales of surplus
materials, equipment shall accrue to the Owner, and the Contractor shall make
provisions so that they can be secured.

7.2      Amounts that accrue to the Owner in accordance with the provisions of
Paragraph 7.1 shall be credited to the Owner as a deduction from the Cost of the
Work.

                                    ARTICLE 8
                               ACCOUNTING RECORDS

8.1      The Contractor shall keep full and detailed accounts and exercise
such controls as may be necessary for proper financial management under this
Contract; the accounting and control systems shall be satisfactory to the Owner.
The Owner and the Owner's accountants shall be afforded access to Contractor's
records relating to this Contract. The Contractor shall preserve these records
for a period of seven years after final payment, or for such longer period as
may be required by law.

                                    ARTICLE 9
                                PROGRESS PAYMENTS

9.1       Based upon Applications for Payment submitted by the Contractor and
Certificates for Payment issued, the Owner shall make progress payments on
account of the Contract Sum to the Contractor as provided in the Contract
Documents. The period covered by each Application for Payment shall be one
calendar month ending on the last day of the month.

9.2      Payments due and unpaid under the Contract shall bear interest from
the date payment is due at the rate stated below, or in the absence thereof, at
the legal rate prevailing from time to time at the place where the Project is
located.

         The prevailing prime rate of First Union National Bank, plus 1%.

                                   ARTICLE 10
                                  FINAL PAYMENT

10.1     Final payment, constituting the entire unpaid balance of the Contract
Sum, shall be paid by the Owner to the Contractor when (1) the Contract has been
fully performed by the Contractor except for the Contractor's responsibility to
correct nonconforming Work and to satisfy other requirements, if any, which
necessarily survive final payment, and (2) a final Certificate for Payment has
been issued.

<PAGE>

                                   ARTICLE 11
                        ENUMERATION OF CONTRACT DOCUMENTS

11.1     The Contract  Documents  are listed in Article 11 and,  except for
Modifications issued after the execution of this Agreement, are enumerated as
follows:

                  N/A

11.1.1   The Agreement is this executed Abbreviated Form of Agreement between
         Owner and Contractor, AIA Document A117, 1987 Edition.

11.1.2   The Supplementary and other Conditions of the Contract are those
         contained in the Project Manual dated N/A , and are as follows:

Document          N/A                Title             Pages

11.1.3   The Specifications are those contained in the Project Manual dated as
         in Subparagraph 11.1.2, and are as follows:    N/A

Number                    Title                        Pages

<PAGE>

11.1.4   The drawings are listed on: Exhibit "A" List of Drawings shall
         be provided upon completion and acceptance of approved Plans &
         Specifications.

11.1.5   The Addenda, if any, are as follows:

                              N/A

Portions of Addenda relating to bidding requirements are not part of the
Contract Documents unless the bidding requirements are also enumerated in this
Article 11.

11.1.6   Other Documents, if any, forming part of the Contract Documents are as
         follows:

         Exhibit "B" Application for Payment to follow. (To be provided upon
         commencement of construction.)

This Agreement is entered as of the day and year first written above and is
executed in at least three original copies, of which one is to be delivered to
the Contractor, one to the Owner's construction inspector for use in the
administration of the Contract, and the remainder to the Owner.

---------------------------------        ---------------------------------------
ROBERTS PROPERTIES, INC.                 ROBERTS PROPERTIES CONSTRUCTION, INC.
a Georgia limited partnership

/s/ Charles S. Roberts                     /s/ Charles S. Roberts
------------------------------               -----------------------------------
Charles S. Roberts, President                  Charles S. Roberts, President

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