Document:

<Page>

                                                                   Exhibit 10.14

                         JOINT VENTURE AGREEMENT BETWEEN
                        CRAUN RESEARCH SDN. BHD., SARAWAK
                                       AND
                           MEDICHEM RESEARCH INC., USA

                                 DECEMBER, 1996

<Page>

                                    AGREEMENT

THIS AGREEMENT is made the 21st day of December, 1996

BETWEEN:

(1)       CRAUN RESEARCH SENDIRIAN BERHAD a company incorporated in Sarawak,
          Malaysia under the Companies Act, 1965, whose registered office is at
          Levels 5, 8 and 12, Wisma Satok, Jalan Satok, 93400 Kuching, Sarawak
          and a place of business at Lot 3147 Block 14, Jalan Santubong, 93055
          Kuching, Sarawak (hereinafter referred to as "CRAUN") of the one part
          and

(2)       MEDICHEM RESEARCH INC. a company organised and incorporated under the
          laws of the United States of America and State of Illinois, with a
          place of business at 12305 So. New Avenue, Lemont, ILLINOIS 60439,
          United States of America (hereinafter referred to as "MEDICHEM") of
          the other part.

WHEREAS

(1)       CRAUN is the duly authorised agent for and on behalf of the Government
          of the State of Sarawak, Malaysia ("the State Government") where the
          species of Callophylum plants from which the COMPOUND known
          scientifically as (+) - Calanolide A (hereinafter referred to as "the
          said COMPOUND") is isolated; and CRAUN, therefore, enters into this
          Agreement for and on behalf of the State Government;

<Page>

(2)       MEDICHEM is primarily engaged in research and early stage development
          of therapeutic agents. MEDICHEM has title or has the exclusive
          licenses to the following patents and patent applications relating to
          the COMPOUND which are potent inhibitors of Human Immunodeficiency
          Virus (HIV) reverse transcriptase and intermediates, namely:

          (a)     MediChem U.S. Patent No. 5,489,697; 1996 - METHOD FOR THE
                  PREPARATION OF (+)-CALANOLIDE A AND INTERMEDIATES THEREOF
                  (Boulanger, Flavin, et al.).

          (b)     MediChem U.S. Patent Application No. 08/510,213; 1995, and
                  International Application No. PCT/US95/09804; 1995 - METHOD
                  FOR THE PREPARATION OF (+)-CALANOLIDE A AND INTERMEDIATES
                  THEREOF (Flavin, Xu, et al.).

          (c)     MediChem U.S. Patent Application No.08/609,537; 1996 - METHOD
                  FOR THE PREPARATION OF (+)-CALANOLIDE A ANDANALOGUES THEREOF
                  (Flavin, Xu, et al).

          (d)     NCI U.S. Patent Application No.08/065,618; 1993 - CALANOLIDE
                  AND RELATED ANTIVIRAL COMPOUNDS, COMPOSITIONS, AND USES
                  THEREOF (Boyd, Cardellina, et al.).

          (e)     NCI International Patent Application No. PCT/US94/05658; 1995
                  - CALANOLIDE AND RELATED ANTIVIRAL COMPOUNDS, COMPOSITIONS,
                  AND USES THEREOF (BOYD, Cardellina, et al.).

(3)       MEDICHEM has by virtue of a Patent License Agreement (Patent License
          No. L-135-94) with National Cancer Institute ("NCI") of the National
          Institute of Health which is an agency of the United States Public
          Health Service within the Department of Health and Human Services,
          U.S.A. (a copy whereof is hereto attached as APPENDIX A) the use of
          the Patent rights

                                        2
<Page>

          licensed thereunder to undertake research into the said COMPOUND with
          a view to developing a drug for the treatment of acquired
          immunodeficiency syndrome (AIDS) diseases, and to use and sell the
          licensed PRODUCTS i.e. the drug derived from the said COMPOUND;

(4)       MEDICHEM entered into an Agreement with the State Government whereby
          in consideration of the State Government agreeing to NIH granting to
          MEDICHEM a license to use the COMPOUND and to sell and distribute
          drugs developed therefrom, MEDICHEM agrees to pay royalties, at the
          rate stated therein, to the State Government. A copy of the Agreement
          is attached as APPENDIX B;

(5)       MEDICHEM has a duly executed license with vita of Spain under the
          License Agreement attached as APPENDIX C.

(6)       MEDICHEM has invited the State Government, through CRAUN, to form a
          COMPANY for the clinical trials for the said COMPOUND and subscribe to
          purchase shares in the COMPANY with a view to enhancing benefits to
          the State Government in the event of the successful development and
          commercialization of the PRODUCT;

(7)       Both the Sarawak Government (through CRAUN) and MEDICHEM wish to
          jointly cooperate to form a COMPANY for conducting research into the
          COMPOUND and more particularly in the conduct of the clinical trials
          for the said COMPOUND, with a view to the production and medical
          application of the PRODUCT. CRAUN and MEDICHEM wish to be equal
          shareholders in the COMPANY.

          In pursuance thereof, the parties hereto have agreed to enter into
mutual commitments and to regulate their rights in relation to such COMPANY in
the manner and upon the terms and conditions hereinafter appearing.

                                        3
<Page>

IT IS MUTUALLY AGREED as follows:

1         INTERPRETATIONS

1.1       In this Agreement unless the context otherwise requires:

1.1.1     "the COMPOUND" means the anti-viral molecule or agent isolated from
          the plants of the genus callophylum found in the State of Sarawak in
          Malaysia and including Calanolide or any synthesized form thereof or
          that derived from preparation made by MEDICHEM under the said patents.

1.1.2     "the COMPANY" means the COMPANY incorporated under Clause 4 below.

1.1.3     "FDA" means the Food and Drug Administration of the United States of
          America.

1.1.4     MEDICHEM "INTELLECTUAL PROPERTY RIGHTS" means technical information,
          all trade secrets, patent applications and patents and licenses
          related to COMPOUND or PRODUCT in which MEDICHEM has right, title and
          interest at the date of signing this Agreement.

1.1.5     "STATE GOVERNMENT" means the Government of the State of Sarawak,
          Malaysia.

1.1.6     COMPANY Intellectual Property Rights shall mean technical information,
          trade secrets, and patent rights developed or obtained by the COMPANY.

1.1.7     "THE PRODUCT" means any drug or pharmaceutical goods or PRODUCT
          derived from the COMPOUND for the treatment of Human Immunodeficiency
          (HIV) or HIV related diseases, developed through or under this
          Project.

                                        4
<Page>

1.1.8     "THIS PROJECT" means

                  (a)    the development of Calanolide as a Therapeutic for
                         treatment of HIV infection;

                  (b)    development of Calanolide A as a Therapeutic for
                         treatment of non HIV viral infections;

                  (c)    development of Calanolide - related compounds including
                         Costatolide as Therapeutic agent for treatment of viral
                         infections;

                  (d)    the research and study into medicinal properties of
                         other plant materials from the State of Sarawak, and

                  (e)    undertake any current or future endeavours or
                         collaboration entered into between MEDICHEM and the
                         U.S. National Institute of Health in connection with
                         the research and study into Calanolide Compounds.

1.2       References to statutory provisions shall be construed as references to
          those provisions as respectively amended or re-enacted or as their
          application is modified by other provisions (whether before or after
          the making of this agreement) from time to time and shall include any
          provisions of which they are re-enactments (whether with or without
          modifications).

1.3       The headings are inserted for convenience only and shall not affect
          the construction of this Agreement.

                                        5
<Page>

1.4.      The Appendices shall be considered as an integral part of this
          Agreement.

1.5       Words importing one gender include all other genders and words
          importing the singular include the plural and vice versa.

1.6       Any covenant by a party not to do an act or thing shall be deemed to
          include an obligation not to permit or suffer such act or thing to be
          done by another person.

2.        TERM

          This Agreement shall commence on the date shown hereinabove and shall
          continue until and unless terminated in accordance with hereinunder.

3.        NATURE OF COLLABORATION

3.1       CRAUN and MEDICHEM hereby mutually agree to cooperate with each other
          to form a COMPANY for the purpose of taking the COMPOUND through its
          clinical trials which shall start as soon as such trials are approved
          by the FDA and to comply with and achieve the Benchmarks for the
          development thereof as set out in APPENDIX D to the Patent License
          Agreement between MEDICHEM and the National Institutes of Health
          (further set out in Appendix C hereof).

3.2       The COMPANY shall seek the requisite approvals of the FDA and any
          other governing bodies (hereinafter referred to as "the regulatory
          authorities") for the conduct of clinical trials for the COMPOUND and
          comply with all the conditions and requirements set out in the
          approvals by the regulatory authorities.

                                        6
<Page>

3.3       The COMPANY shall seek the approvals of the regulatory authorities in
          the United States of America and those of other countries for the
          manufacture, use, marketing and sale of the PRODUCT.

3.4.      Upon approvals from the regulatory authorities for the manufacturing
          of the PRODUCT and its medical application, the parties hereto shall
          proceed, either through the COMPANY itself or by arrangements with
          other parties (to be mutually agreed upon by CRAUN and MEDICHEM), to
          have the PRODUCT manufactured, distributed and sold both in the United
          States of America and abroad.

3.5       MEDICHEM shall make available to the COMPANY, at MEDICHEM'S standard
          cost, the scientists to undertake the research and clinical trials of
          the COMPOUND and manufacture of the PRODUCT and shall (subject to Visa
          and U.S. immigration clearance) train scientists nominated by CRAUN at
          MEDICHEM's facilities in the United States and permit such scientists
          from Sarawak, to participate in the clinical trials, development,
          manufacture, marketings and distribution of the PRODUCT.

4.        SCHEME OF COLLABORATION

4.1       CRAUN and MEDICHEM agree to have incorporated, under United States
          laws, a COMPANY, with limited liability, whose shares shall be owned
          by the parties hereto in the following proportions:-

          CRAUN

          (as agent and nominee of the State Government) :     50 %

          CRAUN'S shares are to be obtained by making subscription payments in
          accordance with Subscription Agreement. (APPENDIX D).

          MEDICHEM                                       :     50 %.

                                        7
<Page>

          MEDICHEM's shares are to be obtained by contribution of MEDICHEM
          Intellectual Property Rights and shall vest automatically according to
          APPENDIX E.

4.2       The COMPANY shall be known as SARAWAK MEDICHEM PHARMACEUTICALS, INC..
          or such other name as may be approved by the Secretary of State of
          Delaware, United States of America.

4.3(a)    The COMPANY'S principal business and activity is to undertake the
          research work and carry out clinical trials for the COMPOUND and
          thereafter, to carry out research and study into other plant materials
          for their medicinal properties.

   (b)    In the event of a successful development of the PRODUCT, the parties,
          as shareholders of the COMPANY, shall mutually agree upon the mode and
          manner for undertaking the commercialization of the PRODUCT, in
          particular, manufacturing, sale and distribution thereof either
          through the COMPANY or such third parties as may be mutually agreed by
          CRAUN and MEDICHEM. In making this determination both parties will
          take into consideration the following:

          (i)     capital expenditure that may be required for the
                  commercialization of the PRODUCT,

          (ii)    the most efficient and cost effective manner for the
                  manufacturing, promoting and distributing thereof.

4.4       The objects, constitution and articles of association of the COMPANY
          shall be in the document set out in APPENDIX F, the provision of this
          appendix both parties hereto may both mutually agree in writing to
          modify, alter, or amend the provisions of APPENDIX F.

                                        8
<Page>

4.5       All Patents, License Agreements and Approvals relating to the
          development of the PRODUCT shall be assigned or exclusively licensed
          to the COMPANY upon payment by CRAUN of the sum of US $1,200,000 to
          the COMPANY as the first payment for subscription of shares. These
          funds are to be used for the attainment of the first benchmark
          stipulated in APPENDIX D.

5.        WARRENTIES AND UNDERTAKINGS

5.1       MEDICHEM undertakes that its scientists whose names appear in APPENDIX
          G will carry out for the COMPANY all research and trials envisaged
          under the Project and throughout the duration of this Agreement.
          MEDICHEM will be reimbursed for services of MEDICHEM scientists at a
          rate approved by the COMPANY's Board of Directors.

5.2       MEDICHEM warrants that all the scientists named in APPENDIX G possess
          the requisite knowledge, skill and experience to undertake the
          research and trials described hereinabove, and will undertake such
          responsibilites to the best of their professional competence and
          according to the highest standard of professional conduct and ethics.

5.3       MEDICHEM undertakes to recruit, engage, appoint, or involve other
          scientists for the COMPANY whose skills and professional abilities are
          required for the successful implementation of the Project or for the
          development and commercialization of the PRODUCT in addition to or in
          substitution of those scientists named in APPENDIX G.

5.4       MEDICHEM undertakes to procure or obtain for the COMPANY from the
          scientists named in APPENDIX G and any scientists recruited or
          appointed under clause 5.3, written undertakings in the form
          acceptable to the State Government, that they will not make any
          unauthorised use or disclosure of

                                        9
<Page>

          any data, findings or knowledge acquired that may or come into their
          possession during or in the course of their involvement or
          participation in the Project.

5.5       MEDICHEM warrants that no other person has any claim, interest or
          right whatsoever to any of the Patents, and that the same can be
          validly be assigned to the COMPANY and that the COMPANY shall have
          absolute right and ownership of the Patents and entitled to custody
          and control of the certificates and the documentary evidence relating
          thereto except as that provided in APPENDICES A, B and C.

5.6       CRAUN warrants that it has the authority to enter into this Agreement
          on behalf of the State Government and has secured funds to meet the
          payments due under this Agreement.

5.7       CRAUN undertakes to procure or obtain for the COMPANY from its
          scientists involved in the Project, a written undertaking, in a form
          acceptable to MEDICHEM, that they will not make any unauthorized use
          or disclosure of any date, findings, or knowledge acquired or come
          into their possesion during or in the course of their involvement or
          participation in the Project.

5.8       Neither CRAUN nor MEDICHEM shall, during the subsistence of the
          Agreement enter into or establish any relationship, arrangement or
          collaboration with any other parties or institution for the purpose of
          undertaking any research, study, trial, manufacture, production,
          distribution, or sale of the PRODUCT, the COMPOUND or any analogs or
          derivatives thereof without the prior written consent of the other
          party.

                                       10
<Page>

6.        FUNDS FOR PROJECT AND PAID UP CAPITAL OF COMPANY

6.1       MEDICHEM has estimated that the costs of both Phases of the clinical
          trials for the COMPOUND would have US $21,000,000 particulars of which
          are as follows:

<Table>
<Caption>
                  Phase                                      Amount
                  -----                                      ------
                  <S>                                    <C>
                  (a) Phase IA/IB                        US $  6,000,000
                  (b) Phase II                           US $ 15,000,000
                                                         ---------------
                      Total                              US $ 21,000,000
</Table>

          A detailed schedule for the disbursement of the above mentioned sum is
          found in APPENDIX D hereto.

6.2       The clinical trials shall be undertaken by the Company from funds
          provided as follows:

          (i)     CRAUN will provide to the COMPANY a total sum of US$9,000,000
                  through subscription in COMPANY stocks to cover the full costs
                  of the Phase IA/IB clinical trials and part of the costs of
                  Phase II of the trials. The sum of US $9,000,000 shall be made
                  available in the manner and at the times set out in
                  subscription APPENDIX D, subject always to the condition that
                  prior to each payment the results of the clinical trials are
                  shown to be satisfactory and the benchmarks stipulated in
                  APPENDIX D are attained. The COMPANY shall issue stocks in
                  accordance with the provisions of APPENDICES D and E within 30
                  days from the date of the subscription payment.

          (ii)    MEDICHEM shall be issued shares in the COMPANY equivalent to
                  the value of the MEDICHEM Intellectual Property Rights
                  assigned or licensed to the COMPANY. Both parties agree that
                  the ultimate value of the MEDICHEM Intellectual Property
                  Rights assigned or licensed to the COMPANY shall be US
                  $9,000,000, but

                                       11
<Page>

                  the shares for MEDICHEM shall be vested and be issued at the
                  same time as the shares are issued to CRAUN, to the intent
                  that the amount of shares issued to CRAUN and MEDICHEM shall
                  be equal at all material times. Except if CRAUN fails to make
                  subscription payments, CRAUN shall not receive any further
                  shares, MEDICHEM shares shall continue to automatically be
                  vested according to the Schedule E.

          (iii)   The balance of the sum required to complete the clinical
                  trials of US $12,000,000 shall be raised by the COMPANY as
                  follows:

                  (a)    through license fees or royalities received by the
                         COMPANY from the licensing of the rights to
                         manufacture, sale, and distribution of the PRODUCT to a
                         pharmaceutical company or companies;

                  (b)    by loans or finance obtained from banks or financial
                         institutions;

                  (c)    by a combination of (a) and (b);

                  (d)    by loans provided by CRAUN to the COMPANY, or;

                  (e)    by the COMPANY calling for additional working capital
                         from its shareholders and CRAUN and MEDICHEM will
                         purchase an equal number of shares to meet the working
                         capital needs of the COMPANY. In such an event, CRAUN
                         will make available a loan [on terms to be agreed upon
                         by the parties hereto] to MEDICHEM to subscribe to the
                         shares of the COMPANY to the intent that MEDICHEM shall
                         retain 50% equity interest in the COMPANY.

                                       12
<Page>

6.3       Both parties shall endeavor to ensure that the COMPANY has sufficient
          funds at all material times, to complete the clinical trials for the
          COMPOUND.

7.        INTELLECTUAL PROPERTY RIGHTS

7.1       Any Product created jointly by the parties in pursuance of this
          Agreement, shall belong to the Company at the date of its creation:

          (a)     Where in the course of developing the PRODUCT Intellectual
                  Property Rights are brought into existence, such Intellectual
                  Property Rights SHALL be COMPANY intellectual property Rights
                  and be held in the name of the COMPANY, and the COMPANY'S
                  expense, shall take all reasonable steps necessary to protect
                  the same by applying for US and Worldwide Patents and such
                  foreign rights corresponding to them or registrations of them
                  as may be reasonable.

          (b)     if at any time during the existence of the COMPANY any
                  Intellectual Property Rights belonging to the COMPANY or
                  assigned or licensed to the COMPANY by MEDICHEM are infringed
                  by a third party then the COMPANY shall take all reasonable
                  steps necessary to enforce the COMPANY and MEDICHEM
                  Intellectual Property Rights at COMPANY expense. Both parties
                  shall use all steps and provide all information and assistance
                  reasonably required for the purpose of such proceedings. Any
                  sums recovered as a result of proceedings taken to enforce the
                  COMPANY or MEDICHEM Intellectual Property Rights shall after
                  deduction of all legal fees and other expenses incurred in
                  connection with such proceedings by the parties be paid to the
                  COMPANY'S general account.

                                       13
<Page>

8.        TERMINATION AND BREACH OF AGREEMENT AND THEIR CONSEQUENCES.

8.1       This Agreement shall be deemed to have been terminated if:

          (a)     both CRAUN and MEDICHEM mutually agree in writing not to
                  proceed further with any stage of the clinical trials of the
                  COMPOUND;

          (b)     the State Government fails to provide share subscription funds
                  required for the clinical trials of the COMPOUND in accordance
                  with the provisions of Clause 6 above or in the manner
                  stipulated and at the times mentioned in APPENDIX D hereto or
                  fails, without reasonable cause, to provide the funds in
                  accordance with clause 6.2 (iii).

8.2.1     Where this Agreement is terminated pursuant to clause 8.1(a) both
          parties will be released from their prospective obligations hereunder
          and any liabilities of the COMPANY will be settled by the parties
          hereto equally. Upon settlement of such liabilities, all patents
          assigned or licensed to the COMPANY shall be reassigned back to
          MEDICHEM, including rights to clinical trials, and the parties will
          take steps to dissolve the COMPANY in accordance with the laws of the
          State of Delaware of the United States of America.

8.2.2     Where this Agreement is terminated pursuant to Clause 8.1(b), the
          MEDICHEM Intellectual Property Rights shall be reassigned by the
          COMPANY back to MEDICHEM, who shall be entitled to continue with the
          development of the COMPOUND.

8.3       In the event that the parties are unable to arrive at a joint decision
          as required under Clause 8.1(a), and the provisions of Clause 8.1(b)
          do not apply on whether or not to proceed further with any stage of
          the clinical

                                       14
<Page>

          trials for the PRODUCT that the party that wishes to proceed with the
          development of the PRODUCT is entitled to do so, subject to the
          following:

          (a)     in the event that it is CRAUN that does not want to proceed,
                  MEDICHEM shall have the right but not the obligation to
                  purchase CRAUN'S shares at the price paid by CRAUN.

          (b)     in the event it is MEDICHEM that does not wish to proceed,
                  CRAUN shall have the right, but not the obligation to purchase
                  MEDICHEM'S shares at the price of $9,000,000 US being the
                  price paid by MEDICHEM.

          (c)     in the event that the conditions in subparagraphs (a) and (b)
                  above cannot be fulfilled within a period of six months from
                  the date when either party gives written notice to the other
                  of its desire not to proceed with the clinical trial of the
                  COMPOUND, this Agreement shall be deemed mutually terminated
                  and the provisions of clause 8.2 shall apply.

8.4.      Subject to the provisions of 8.1(b), a breach of any of the provisions
          of the Agreement shall not result in its termination, but the party in
          breach shall be liable to compensate the other party for all damages
          and loss suffered or sustained by the innocent party in consequence of
          such breach.

9.        PROFIT SHARING

          The profits derived from the sale of the PRODUCT when commercialized
          shall be shared by the parties hereto in the manner and in the
          proportion set out in APPENDIX H.

                                       15
<Page>

10.       NATURE OF THIS AGREEMENT

          This Agreement relates only to the single COMPANY referred to in it
          and shall neither constitute either party to it the agent of the other
          party nor shall it constitute a partnership between such parties.

11.       TAXATION

          Each of the parties hereto agrees that each shall bear its own
          liability for any taxation chargeable in the United States of America
          or Malaysia in respect of its participation in this collaboration and
          each undertakes to indemnify the other in respect of any such taxation
          assessed on and paid by the other in respect of which the former is
          primarily liable.

12.       GENERAL

12.1      This agreement shall be binding on the parties to it and their
          respective successors and permitted assigns, provided that neither of
          such parties shall be entitled to assign this Agreement or any of its
          rights and obligations under this Agreement without the consent of the
          other (which consent either party may in its absolute discretion
          withhold).

12.2      No exercise or failure to exercise or delay in exercising any right,
          power, or remedy vested in either party under or pursuant to this
          Agreement shall constitute a waiver by that party of that or any other
          right, power, or remedy.

12.3      Each party shall bear its own costs of or in connection with the
          preparation and execution of this Agreement.

                                       16
<Page>

12.4(a)   Neither party hereto shall issue any press release or other public
          statement or publish any article or account of any patent findings,
          conclusions, or results of any trials carried out under this agreement
          without the prior written consent of the other party but such consent
          should not be unreasonably withheld.

    (b)   Both parties shall and also ensure that their respective scientists
          and staff keep and maintain complete confidentiality over any
          information, data, findings, conclusions, or outcome of any research,
          patents, patent applications, approvals, negotiations, discussions,
          records pertaining to the PRODUCT, or any activity carried out under
          this Agreement.

12.5      This Agreement (together with all agreements and documents executed
          contemporaneously with it or referred to in it) constitutes the entire
          Agreement between the parties in relation to its subject matter and
          supersedes all prior Agreements and undertakings whether oral or
          written with respect to that subject matter and no variation of this
          Agreement shall be effective unless reduced to writing and signed by
          or on behalf of a duly authorised representative of each of the
          parties to this Agreement.

12.6      In the event that any term, condition, or provision of this Agreement
          is held to be in violation of any applicable law, statute or
          regulation, the same shall be deemed to be deleted from this Agreement
          and shall be of no force and effect and this Agreement shall remain in
          full force and effect as if such term, condition or provision had not
          originally been contained in this Agreement. Notwithstanding the
          foregoing in the event of any such deletion the parties shall
          negotiate in good faith in order to agree to the terms of a mutually
          acceptable and satisfactory alternative provision in place of the
          provision so deleted.

                                       17
<Page>

12.7      This Agreement may be executed in any number of counterparts or
          duplicates each of which shall be an original but such counterparts or
          duplicates shall together constitute as one and the same Agreement.

12.8      Time shall be of the essence for the purposes of any provision of this
          Agreement.

12.9      This Agreement supersedes, overrides, rescinds and revokes all
          previous arrangements, agreements, promises, undertakings and deeds
          (if any) entered into between the parties which is the subject matter
          of this Agreement provided that the provisions of this clause shall
          not apply to the Agreement (APPENDIX B) subsisting between the State
          Government and MEDICHEM.

13.       NOTICES

          Any notice to be given by either party to this Agreement shall be in
          writing and shall be deemed duly served if delivered personally or
          sent by telex or facsimile transmission or by prepaid air mail
          registered post to the addressee at the address or (as the case may
          be) the telex or fascimile number of that party set opposite its name
          below:

                  CRAUN's Address:  c/o STATE ATTORNEY GENERAL' OFFICE
                                         17th Floor, Wisma Bapa Malaysia,
                                         Petra Jaya, 93502 Kuching, Sarawak,
                                         Malaysia

                  Facsimile Number: 60-82-440525

                  [Marked for the attention of:]

                  MEDICHEM RESEARCH, INC.
                  12305 S. New Avenue
                  Lemont, IL 60439

                  Telex Number:     630-257-1500
                  Facsimile Number: 630-257-1505
                          ATTN:     Dr. Michael T. Falvin

<Page>

          or at such other address (or telex or facsimile number) as the party
          to be served may have notified (in accordance with the provisions of
          this clause) for the purposes of this Agreement.

13.2      Any notice sent by telex or facsimile shall be deemed served when
          dispatched and any notice served by prepaid air mail registered post
          shall be deemed served 10 days after posting to an address in the
          United States of America or Malaysia. In proving the service of any
          notice it will be sufficient to prove in the case of a letter that
          such letter was properly stamped, addressed and placed in the post or
          delivered or left at the current address if delivered personally and
          in the case of a telex or facsimile that such telex or facsimile
          transmission was duly dispatched to the telex or facsimile number of
          the addressee given above or subsequently notified for the purposes of
          this Agreement.

14.       LAW AND JURISDICTION

          THIS Agreement shall be governed by and construed in all respects in
          accordance with the law of England applicable at the time of the
          execution of this Agreement.

15.       ARBITRATION

          All disputes which arise out of this Agreement shall be settled by
          arbitration in accordance with the conciliation and arbitration rules
          and regulations of the International Arbitration Centre in England to
          which the parties hereto submit. The arbitrator shall have background
          and expertise relating to the issues(s) involved. The arbitration
          shall be in a mutually agreed location and the UNCITRAL (United
          Nations Commission on International Trade Laws) rules shall apply to
          such arbitration. The parties shall share equally the fees and
          expenses of the arbitration. The arbitrator's decision shall be
          binding, final and non-appealable.

<Page>

IN WITNESS

SIGNED by                            )
DATUK WAN ALI TUANKU YUBI            )
Chairman/Director of                 )
CRAUN RESEARCH SDN BHD               )         /s/ Datuk Wan Ali Tuanku Yubi
under and by virtue of a             )      ------------------------------------
Resolution of its Board of Directors,)           DATUK WAN ALI TUANKU YUBI
in the presence of:                  )

Name of Witness:                                    /s/ Datuk J.C. Fong
                                            ------------------------------------
                                                       DATUK J.C. FONG

Address:                                    State Attorney-General's Chambers,
                                                         Kuching.

Occupation:                                 State Attorney-General, Sarawak

SIGNED by                           )
DR. MICHAEL T. FLAVIN               )
President, for and on behalf of     )              /s/ Michael T. Flavin
MEDICHEM RESEARCH INC.              )       ------------------------------------
in the presence of:                 )               DR. MICHAEL T. FLAVIN

Name of Witness:                                     /s/ John L. Flavin
                                            ------------------------------------
                                                       JOHN L. FLAVIN

Address:                                    MediChem Research, Inc.

Occupation:                                 Vice President of Contractual
                                            Operations

<Page>

                                   APPENDIX A

                          MEDICHEM/NCI LICENSE L-135-95

<Page>

                          NATIONAL INSTITUTES OF HEALTH
                           CENTERS FOR DISEASE CONTROL

                      PATENT LICENSE AGREEMENT -- EXCLUSIVE

                                   COVER PAGE

For Office of Technology Transfer/NIH internal use only:

Patent License Number: L-135-94

Serial Numbers of Licensed Patents: USPA SN 07/861,249
                                         SN 08/065,618

Licensee:  MediChem Research, Inc.

CRADA Number (if applicable):

Additional Remarks:

This Patent License Agreement, hereinafter referred to as the "Agreement,"
consists of this Cover Page, an attached Agreement, a Signature Page, Appendix A
(Patent or Patent Application), Appendix B (Fields of Use and Territory),
Appendix C (Royalties), Appendix D (Modifications), and Appendix B
(Benchmarks). This Cover Page serves to identify the Parties to this Agreement:

          1)      The National Institutes of Health ("NIH") or the Centers for
                  Disease Control ("CDC"), hereinafter singly or collectively
                  referred to as "PHS," agencies of the United States Public
                  Health Service within the Department of Health and Human
                  Services ("DHHS"); and

          2)      The person, corporation, or institution identified above
                  and/or on the Signature Page, having offices at the address
                  indicated on the Signature Page, hereinafter referred to as
                  "Licensee."

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 1 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

                     PHS PATENT LICENSE AGREEMENT--EXCLUSIVE

          PHS and Licensee agree as follows:

1.        BACKGROUND

          1.01    In the course of conducting biomedical and behavioral
                  research, PHS investigators made inventions that may have
                  commercial applicability.

          1.02    By assignment of rights from PHS employees and other
                  inventors, DHRS, on behalf of the United States Government,
                  owns intellectual property rights claimed in any United States
                  and foreign patent applications or patents corresponding to
                  the assigned inventions. DHHS also owns any tangible
                  embodiments of these inventions actually reduced to practice
                  by PHS.

          1.03    The Assistant Secretary for Health of DHHS has delegated to
                  PHS the authority to enter into this Agreement for the
                  licensing of rights to these inventions under 35 U.S.C.
                  Sections 2O0-212, the Federal Technology Transfer Act of 1986,
                  15 U.S.C. Section 3710a, and/or the regulations governing the
                  licensing of Government-owned inventions, 37 CFR Part 404.

          1.04    PHS desires to transfer these inventions to the private sector
                  through commercialization licenses to facilitate the
                  commercial development of products and processes for public
                  use and benefit.

          1.05    Licensee desires to acquire commercialization rights to
                  certain of these inventions in order to develop processes,
                  methods, or marketable products for public use and benefit.

2.        DEFINITIONS

          2.01    "Licensed Patent Rights shall mean:

                  a)     U.S. patent applications and patents listed in Appendix
                         A, all divisions and continuations of these
                         applications, all patents issuing from such
                         applications, divisions, and continuations, and any
                         reissues, reexaminations, and extensions of all such
                         patents;

                  b)     to the extent that the following contain one o more
                         claims directed to the invention or inventions claimed
                         in a) above: I) continuations-in-part of a) above; II)
                         all divisions and continuations of these
                         continuations-in-part; III) all patents issuing from
                         such continuations-in-part, divisions, and
                         continuations; and IV) any reissues, reexaminations,
                         and extensions of all, such patents;

                  c)     to the extent that the following contain one or more
                         claims directed to the invention or inventions claimed
                         in a) above:

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 2 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

                         all counterpart foreign applications and patents to a)
                         and b) above, including those listed in Appendix A.

                         Licensed Patent Rights shall not include b) or c) above
                         to the extent that they contain one or more claims
                         directed to new matter which is not the subject matter
                         of a claim in a) above.

          2.02    "Licensed Product(s)" means tangible materials which, in the
                  course of manufacture, use, or sale would, in the absence of
                  this Agreement, infringe one or more claims of the Licensed
                  Patent Rights that have not been held invalid or unenforceable
                  by an unappealed or unappealable judgement of a court of
                  competent jurisdiction.

          2.03    "Licensed Process(es)" means processes which, in the course of
                  being practiced would, in the absence of this Agreement,
                  infringe one or more claims of the Licensed Patent Rights that
                  have not been held invalid or unenforceable by an unappealed
                  or unappealable judgment of a court of competent jurisdiction.

          2.04    "Licensed Territory" means the geographical area identified in
                  Appendix B.

          2.05    "Net Sales" means the total gross receipts for sales of
                  Licensed Products or practice of Licensed Processes by or on
                  behalf of Licensee or its sublicensees, and from leasing,
                  renting, or otherwise making Licensed Products available to
                  others without sale or other dispositions, whether invoiced or
                  not, less returns and allowances actually granted, packing
                  costs, insurance costs, freight out, taxes or excise duties
                  imposed on the transaction (if separately invoiced), and
                  wholesaler and cash discounts in amounts customary in the
                  trade. No deductions shall be made for commissions paid to
                  individuals, whether they be with independent sales agencies
                  or regularly employed by Licensee, or sublicensees, and on its
                  payroll, or for the cost of collections.

          2.06    "First Commercial Sale" means the initial transfer by or on
                  behalf of Licensee or its sublicensees of Licensed Products or
                  the initial practice of a Licensed Process by or on behalf of
                  Licensee or its sublicensees in exchange for cash or some
                  equivalent to which value can be assigned for the purpose of
                  determining Net Sales.

          2.07    "Government" means the government of the United States of
                  America.

          2.08    "Licensed Fields of Use" means the fields of use identified in
                  APPENDIX B.

3.        GRANT OF RIGHTS

          3.01    PHS hereby grants and Licensee accepts, subject to the terms
                  and conditions of this Agreement, an exclusive license to
                  Licensee under the Licensed Patent Rights in the Licensed
                  Territory to make and have made, to use and have used, and to
                  sell and have sold any

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 3 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

                  Licensed Products in the Licensed Fields of Use and to
                  practice and have practiced any Licensed Processes in the
                  Licensed Fields of Use.

          3.02    This Agreement confers no license or rights by implication,
                  estoppel, or otherwise under any patent applications or
                  patents of PHS other than Licensed Patent Rights regardless of
                  whether such patents are dominant or subordinate to Licensed
                  Patent Rights.

4.        SUBLICENSING

          4.01    Upon written approval by PHS, which approval will not be
                  unreasonably withheld, Licensee may enter into sublicensing
                  agreements under the Licensed Patent Rights.

          4.02    Licensee agrees that any sublicenses granted by it shall
                  provide that the obligations to PHS of Paragraphs 5.01-5.05,
                  8.01, 10.01, 10.02, 12.05, and 13.08-13.11 of this Agreement
                  shall be binding upon the sublicensee as if it were a party to
                  this Agreement. Licensee further agrees to attach copies of
                  these Paragraphs to all sublicense agreements.

          4.03    Any sublicenses granted by Licensee shall provide for the
                  termination of the sublicense, or the conversion to a license
                  directly between such sublicensees and PHS, at the option of
                  the sublicensee, upon termination of this Agreement under
                  Article 13. Such conversion is subject to PHS approval and
                  contingent upon acceptance by the sublicensee of the remaining
                  provisions of this Agreement.

          4.04    Licensee agrees to forward to PHS a copy of each fully
                  executed sublicense agreement postmarked within sixty (60)
                  days of the execution of such agreement.

5.        STATUTORY AND PHS REQUIREMENTS AND RESERVED GOVERNMENT RIGHTS

          5.01    PHS reserves on behalf of the Government an irrevocable,
                  nonexclusive, nontransferable, royalty-free license for the
                  practice of all inventions licensed under the Licensed Patent
                  Rights throughout the world by or on behalf of the Government
                  and on behalf of any foreign government or international
                  organization pursuant to any existing or future treaty or
                  agreement to which the Government is a signatory.

          5.02    Licensee agrees that products used or sold in the United
                  States embodying Licensed Products or produced through use of
                  Licensed Processes shall be manufactured substantially in the
                  United States, unless a written waiver is obtained in advance
                  from PHS.

          5.03    Licensee acknowledges that PHS may enter into future
                  Cooperative Research and Development Agreements (CRADAs) under
                  the Federal Technology Transfer Act of 1986 that relate to the
                  subject matter of

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 4 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

                  this Agreement. Licensee agrees not to unreasonably deny
                  requests for sublicense or cross-license rights from such
                  future collaborators with PHS when acquiring such derivative
                  rights is necessary in order to make a CRADA project feasible.
                  Licensee may request an opportunity to join as a party to the
                  proposed CRADA.

          5.04    DHHS has responsibility for funding basic biomedical research,
                  for funding medical treatment through programs such as
                  Medicare and Medicaid, for providing direct medical care and,
                  more generally, for protecting the health and safety of the
                  public. Because of these responsibilities, and the public
                  investment in the research that culminated in the Licensed
                  Patent Rights, PHS may require Licensee to submit
                  documentation in confidence showing a reasonable relationship
                  between the pricing of a Licensed Product, the public
                  investment in that product, and the health and safety needs of
                  the public. This paragraph shall not restrict the right of
                  Licensee to price a Licensed Product or Licensed Process so as
                  to obtain a reasonable profit for its sale or use. This
                  Paragraph 5.04 does not permit PHS to set or dictate prices
                  for Licensed Products or Licensed Processes.

          5.05    In addition to the reserved license of Paragraph 5.01 above,
                  PHS reserves the. right to grant nonexclusive licenses to make
                  and to use the inventions defined by the Licensed Patent
                  Rights for purposes of research involving the inventions
                  themselves, and not for purposes of commercial manufacture or
                  in lieu of purchase if the inventions are available as
                  commercial products for research purposes. The purpose of this
                  research license is to encourage basic research, whether
                  conducted at an academic or corporate facility. In order to
                  safeguard the Licensed Patent Rights, however, PHS shall
                  consult with Licensee before granting to commercial entities a
                  research license or providing to them research samples of the
                  materials claimed in the Licensed Patent Rights.

6.        ROYALTIES AND REIMBURSEMENT

          6.01    Licensee agrees to pay to PHS a noncreditable, nonrefundable
                  license issue royalty as set forth in Appendix C within thirty
                  (30) days from the date that this Agreement becomes effective.

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 5 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

          6.02    Licensee agrees to pay to PHS a nonrefundable minimum annual
                  royalty as set forth in Appendix C. The minimum annual royalty
                  is due and payable on January 1 of each calendar year and may
                  be credited against any earned royalties due for sales made in
                  that year. The minimum annual royalty due for the first
                  calendar year of this Agreement may be prorated according to
                  the fraction of the calendar year remaining between the
                  Effective Date of this Agreement and the next subsequent
                  January 1.

          6.03    Licensee agrees to pay PHS earned royalties as set forth in
                  Appendix C.

          6.04    Licensee agrees to pay PHS benchmark royalties as set forth in
                  Appendix C.

          6.05    A claim of a patent or patent application licensed under this
                  Agreement shall cease to fall within the Licensed Patent
                  Rights for the purpose of computing the minimum annual royalty
                  and earned royalty payments in any given country on the
                  earliest of the dates that a) the claim has been abandoned but
                  not continued, b) the patent expires, c) the patent is no
                  longer maintained by the Government, or d) all claims of the
                  Licensed Patent Rights have been held to be invalid or
                  unenforceable by an unappealed or unappealable decision of a
                  court of competent jurisdiction or administrative agency.

          6.06    No multiple royalties shall be payable because any Licensed
                  Products or Licensed Processes are covered by more than one of
                  the Licensed Patent Rights.

          6.07    On sales of Licensed Products by Licensee to sublicensees or
                  affiliated parties or on sales made in other than an
                  arm's-length transaction, the value of the Net Sales
                  attributed under this Article 6 to such a transaction shall be
                  that which would have been received in an arm's-length
                  transaction, based on sales of like quantity and quality
                  products on or about the time of such transaction.

          6.08    As an additional royalty, Licensee agrees to pay PHS, within
                  sixty (60) days of PHS's submission of a statement and request
                  for payment, an amount equivalent to all reasonable expenses
                  previously incurred by PHS in the preparation, filing,
                  prosecution, and maintenance of Licensed Patent Rights.
                  Licensee further agrees to pay PHS annually, within sixty (60)
                  days of PHS's submission of a statement and request for
                  payment, a royalty amount equivalent to all such future patent
                  expenses incurred during the previous calendar year, as of the
                  date the statement and request for payment is sent by PHS to
                  Licensee. Fifty percent (50%) of the cumulative amount of such
                  payments may be credited against royalties due under Paragraph
                  6.03; however, the net royalty payment in any calendar year
                  may not be lower than the minimum annual royalty specified in
                  Appendix B. Licensee may elect to surrender its rights in any
                  country of the Licensed Territory under any Licensed Patent
                  Rights

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 6 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

                  upon sixty (60) days' written notice to PHS and owe no payment
                  obligation under this paragraph for subsequent patent-related
                  expenses incurred in that country.

7.        DOMESTIC AND FOREIGN PATENT FILING, PROSECUTION, AND MAINTENANCE

          7.01    PHS agrees to take responsibility for, but to consult with the
                  Licensee in, the preparation, filing, prosecution, and
                  maintenance of any and all patent applications or patents
                  included in the Licensed Patent Rights and shall furnish
                  copies of relevant patent-related documents to Licensee.

          7.02    Each party shall promptly inform the other as to all matters
                  that come to its attention that may affect the preparation,
                  filing, prosecution, or maintenance of the Licensed Patent
                  Rights and permit each other to provide comments and
                  suggestions with respect to the preparation, filing, and
                  prosecution of Licensed Patent Rights, which comments and
                  suggestions shall be considered by the other party.

8.        RECORD KEEPING

          8.01    Licensee agrees to keep accurate and correct records of
                  Licensed Products made, used, or sold and Licensed Processes
                  practiced under this Agreement appropriate to determine the
                  amount of royalties due PHS. Such records shall be retained
                  for at least five (5) years following a given reporting
                  period. They shall be available during normal business hours
                  for inspection at the expense of PHS by an accountant or other
                  designated auditor selected by PHS for the sole purpose of
                  verifying reports and payments hereunder. The accountant or
                  auditor shall only disclose to PHS information relating to the
                  accuracy of reports and payments made under this Agreement. If
                  an inspection shows an underreporting or underpayment in
                  excess of five percent (5%) for any twelve (12) month period,
                  then Licensee shall reimburse PHS for the cost of the
                  inspection at the time Licensee pays the unreported royalties,
                  including any late charges as required by Paragraph 7.06 of
                  this Agreement. All payments required under this Paragraph
                  shall be due within thirty (30) days of the date PHS provides
                  Licensee notice of the payment due.

9.        REPORTS ON PROGRESS, BENCHMARKS, SALES, AND PAYMENTS

          9.01    Prior to signing this Agreement, Licensee has provided to PHS
                  a written commercialization plan ("Commercial Development
                  Plan") under which Licensee intends to bring the subject
                  matter of the Licensed Patent Rights into commercial use. The
                  Commercial Development Plan is hereby incorporated by
                  reference into this Agreement. Based on this plan, performance
                  benchmarks are determined as specified in Appendix E
                  ("Benchmarks").

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 7 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

          9.02    Licensee shall provide written annual reports on its product
                  development progress or efforts to commercialize under the
                  Commercial Development Plan for each of the Licensed Fields of
                  Use within sixty (60) days after December 31 of each calendar
                  year. These progress reports shall include, but not be limited
                  to: progress on research and development, status of
                  applications for regulatory approvals, manufacturing,
                  sublicensing, marketing, and sales during the preceding
                  calendar year, as well as plans for the present calendar year.
                  If reported progress differs from that projected in the
                  Commercial Development Plan and Benchmarks, Licensee shall
                  explain the reasons for such differences. Licensee may propose
                  amendments in any such annual report to the Commercial
                  Development Plan, acceptance of which by PHS may not
                  unreasonably be denied. Licensee agrees to provide any
                  additional data reasonably required by PHS to evaluate
                  Licensee's performance. Licensee may amend the Benchmarks at
                  any time upon written consent by PHS. PHS shall not
                  unreasonably withhold approval of any request of Licensee to
                  extend the time periods of this schedule if such request is
                  supported by a reasonable showing by Licensee of diligence in
                  its performance under the Commercial Development Plan and
                  toward bringing the Licensed Products to the point of
                  practical application as defined in 37 CFR 404.3(d). Licensee
                  shall amend the Commercial Development Plan and Benchmarks at
                  the request of PHS to address any Licensed Fields of Use not
                  specifically addressed in the plan originally submitted.

          9.03    Licensee shall report to PHS the date of the First Commercial
                  Sale in each country in the Licensed Territory within thirty
                  (30) days of such occurrence.

          9.04    Licensee shall submit to PHS within sixty (60) days after each
                  calendar half-year ending June 30 and December 31 a royalty
                  report setting forth for the preceding half-year period the
                  amount of the Licensed Products sold or Licensed Processes
                  practiced by or on behalf of Licensee in each country within
                  the Licensed Territory, the Net Sales, and the amount of
                  royalty accordingly due. With each such royalty report,
                  Licensee shall submit payment of the earned royalties due. If
                  no earned royalties are due to PHS for any reporting period,
                  the written report shall so state. The royalty report shall be
                  certified as correct by an authorized officer of Licensee and
                  shall include a detailed listing of all deductions made under
                  Paragraph 2.05 to determine Net Sales made under Article 6 to
                  determine royalties due.

          9.05    Licensee agrees to forward semi-annually to PHS a copy of such
                  reports received by Licensee from its sublicensees during the
                  preceding half-year period as shall be pertinent to a royalty
                  accounting to PHS by Licensee for activities under the
                  sublicense.

          9.06    Royalties due under Article 6 shall be paid in U.S. dollars.
                  For conversion of foreign currency to U.S. dollars, the
                  conversion rate shall be the rate quoted in THE WALL STREET
                  JOURNAL on the day that the payment is due. All checks and
                  bank drafts shall be drawn on

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 8 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

                  United States banks and shall be payable to NIH/Patent
                  Licensing at the address shown on the Signature Page below.
                  Any loss of exchange, value, taxes, or other expenses incurred
                  in the transfer or conversion to U.S. dollars shall be paid
                  entirely by Licensee. All royalty payments due under this
                  Agreement shall be mailed to the following address: NIH, P.O.
                  Box 360120, Pittsburgh, Pennsylvania 15251-6120. The royalty
                  report required by paragraph 9.04 of this Agreement shall
                  accompany each such payment and a copy of such report shall
                  also be mailed to PHS at its address for notices indicated on
                  the Signature Page of this Agreement.

          9.07    Late charges will be applied to any overdue payments as
                  required by the U.S. Department of Treasury in the Treasury
                  Fiscal Requirements Manual, Section 8025.40. The payment of
                  such late charges shall not prevent PHS from exercising any
                  other rights it may have as a consequence of the lateness of
                  any payment.

          9.08    All plans and reports required by this Article 9 and marked
                  "confidential" by Licensee shall be treated by PHS as
                  commercial and financial information obtained from a person
                  and as privileged and confidential and, to the extent
                  permitted by law, shall not be subject to disclosure under the
                  Freedom of Information Act, 5 U.S.C. Section 552.

10.       PERFORMANCE

          10.01   Licensee shall use its reasonable best efforts to introduce
                  the Licensed Products into the commercial market or apply the
                  Licensed Processes to commercial use as soon as practicable.
                  "Reasonable best efforts" for the purpose of this provision
                  shall include, but not be limited to, adherence to the
                  Commercial Development Plan and performance of the Benchmarks.
                  The efforts of a sublicensee shall be considered the efforts
                  of Licensee.

          10.02   Upon the First Commercial Sale, until the expiration of this
                  Agreement, Licensee shall use its reasonable best efforts to
                  keep Licensed Products and Licensed Processes reasonably
                  accessible to the public.

11.       INFRINGEMENT AND PATENT ENFORCEMENT

          11.01   PHS and Licensee agree to notify each other promptly of each
                  infringement or possible infringement, as well as any facts
                  which may affect the validity, scope, or enforceability of the
                  Licensed Patent Rights of which either Party becomes aware.

          11.02   Pursuant to this Agreement and the provisions of Chapter 29 of
                  Title 35, United States Code, Licensee may a) bring suit in
                  its own name, at its own expense, and on its own behalf for
                  infringement of presumably valid claims in the Licensed Patent
                  Rights; b) in any such suit, enjoin infringement and collect
                  for its use, damages,

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 9 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

                  profits, and awards of whatever nature recoverable for such
                  infringement; and c) settle any claim or suit for infringement
                  of the Licensed Patent Rights-provided, however, that PHS and
                  appropriate Government authorities shall have the first right
                  to take such actions and shall have a continuing right to
                  intervene in such suit. Licensee shall take no action to
                  compel the Government either to initiate or to join in any
                  such suit for patent infringement. Licensee may request the
                  Government to initiate or join any such suit if necessary to
                  avoid dismissal of the suit. Should the Government be made a
                  party to any such suit, Licensee shall reimburse the
                  Government for any costs, expenses, or fees which the
                  Government incurs as a result of such motion or other action,
                  including any and all costs incurred by the Government in
                  opposing any such motion or other action. Upon Licensee's
                  payment of all costs incurred by the Government as a result of
                  Licensee's joinder motion or other action, these actions by
                  Licensee will not be considered a default in the performance
                  of any material obligation under this Agreement. In all cases,
                  Licensee agrees to keep PHS reasonably apprised of the status
                  and progress of any litigation. Before Licensee commences an
                  infringement action, Licensee shall notify PHS and give
                  careful consideration to the views of PHS and to any potential
                  effects of the litigation on the public health in deciding
                  whether to bring suit.

          11.03   In any infringement action commenced under Paragraph 11.02,
                  the expenses including costs, fees, attorney fees, and
                  disbursements, shall be paid by Licensee. Up to fifty percent
                  (50%) of such expenses may be credited against the royalties
                  payable to PHS under Paragraph 6.03 under the Licensed Patent
                  Rights in the country in which such a suit is filed. In the
                  event that fifty percent (50%) of such expenses exceed the
                  amount of royalties payable by Licensee in any calendar year,
                  the expenses in excess may be carried over as a credit on the
                  same basis into succeeding calendar years. A credit against
                  litigation expenses, however, may not reduce the royalties due
                  in any calendar year to less than the minimum annual royalty.
                  Any recovery made by Licensee, through court judgment or
                  settlement, first shall be applied to reimburse PHS for
                  royalties withheld as a credit against litigation expenses and
                  then to reimburse Licensee for its litigation expense. Any
                  remaining recoveries shall be shared equally by Licensee and
                  PHS.

          11.04   PHS shall cooperate fully with Licensee in connection with an
                  infringement action initiated under Paragraph 11.02. PHS
                  agrees promptly to provide access to all necessary documents
                  and to render reasonable assistance in response to a request
                  by Licensee.

          11.05   In the event that a declaratory judgment action alleging
                  invalidity or non-infringement of any of the Licensed Patent
                  Rights shall be brought against Licensee or raised by way of
                  counterclaim or affirmative defense in an infringement suit
                  brought by Licensee under Paragraph 11.02, pursuant to this
                  Agreement and the provisions of Chapter 29 of Title 35, United
                  States Code or other statutes, Licensee may a) defend the suit
                  in its own name, at its own expense,

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 10 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

                  and on its own behalf for presumably valid claims in the
                  Licensed Patent Rights; b) in any such suit, ultimately to
                  enjoin infringement and to collect for its use, damages,
                  profits, and awards of whatever nature recoverable for such
                  infringement; and c) settle any claim or suit for declaratory
                  judgment involving the Licensed Patent Rights-provided,
                  however, that PHS and appropriate Government authorities shall
                  have the first right to take such actions and shall have a
                  continuing right to intervene in such suit. Licensee shall
                  take no action to compel the Government either to initiate or
                  to join in any such declaratory judgment action. Licensee may
                  request the Government to initiate or join any such suit if
                  necessary to avoid dismissal of the suit. Should the
                  Government be made a party to any such suit by motion or any
                  other action of Licensee, Licensee shall reimburse the
                  Government for any costs, expenses, or fees which the
                  Government incurs as a result of such motion or other action.
                  Upon Licensee's payment of all costs incurred by the
                  Government as a result of Licensee's joinder motion or other
                  action, these actions by Licensee will not be considered a
                  default in the performance of any material obligation under
                  this Agreement. If Licensee elects not to defend against such
                  declaratory judgment action, PHS, at its option, may do so at
                  its own expense. In all cases, Licensee agrees to keep PHS
                  reasonably apprised of the status and progress of any
                  litigation. Before Licensee commences an infringement action,
                  Licensee shall notify PHS and give careful consideration to
                  the views of PHS and to any potential effects of the
                  litigation on the public health in deciding whether to bring
                  suit.

12.       NEGATION OF WARRANTIES AND INDEMNIFICATION

          12.01   PHS offers no warranties other than those specified in Article
                  1.

          12.02   PHS does not warrant the validity of the Licensed Patent
                  Rights and makes no representations whatsoever with regard to
                  the scope of the Licensed Patent Rights, or that the Licensed
                  Patent Rights may be exploited without infringing other
                  patents or other intellectual property rights of third
                  parties.

          12.03   PHS MAKES NO WARRANTIES, EXPRESSED OR IMPLIED, OF
                  MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF ANY
                  SUBJECT MATTER DEFINED BY THE CLAIMS OF THE LICENSED PATENT
                  RIGHTS.

          12.04   PHS does not represent that it will commence legal actions
                  against third parties infringing the Licensed Patent Rights.

          12.05   Licensee shall indemnify and hold PHS, its employees,
                  students, fellows, agents, and consultants harmless from and
                  against all liability, demands, damages, expenses, and losses,
                  including but not limited to death, personal injury, illness,
                  or property damage in connection with or arising out of a) the
                  use by or on behalf of Licensee, its sublicensees, directors,
                  employees, or third parties of any Licensed Patent Rights, or
                  b) the design, manufacture,

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 11 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

                  distribution, or use of any Licensed Products, Licensed
                  Processes or materials, or other products or processes
                  developed in connection with or arising out of the Licensed
                  Patent Rights. Licensee agrees to maintain a liability
                  insurance program consistent with sound business practice.

13.       TERM, TERMINATION, AND MODIFICATION OF RIGHTS

          13.01   This Agreement is effective when signed by all parties and
                  shall extend to the expiration of the last to expire of the
                  Licensed Patent Rights unless sooner terminated as provided in
                  this Article 13.

          13.02   In the event that Licensee is in default in the performance of
                  any material obligations under this Agreement, and if the
                  default has not been remedied within ninety (90) days after
                  the date of notice in writing of such default, PHS may
                  terminate this Agreement by written notice.

          13.03   At least thirty (30) days prior to filing a petition in
                  bankruptcy, Licensee must inform PHS in writing of its
                  intention to file the petition in bankruptcy or of a third
                  party's intention to file an involuntary petition in
                  bankruptcy.

          13.04   In the event that Licensee becomes insolvent, files a petition
                  in bankruptcy, has such a petition filed against it,
                  determines to file a petition in bankruptcy, or receives
                  notice of a third party's intention to file an involuntary
                  petition in bankruptcy, Licensee shall immediately notify PHS
                  in writing. Furthermore, PHS shall have the right to terminate
                  this Agreement by giving Licensee written notice. Termination
                  of this Agreement is effective upon Licensee's receipt of the
                  written notice.

          13.05   Licensee shall have a unilateral right to terminate this
                  Agreement and/or any licenses in any country by giving PHS
                  sixty (60) days' written notice to that effect.

          13.06   PHS shall specifically have the right to terminate or modify,
                  at its option, this Agreement, if PHS determines that the
                  Licensee: 1) is not executing the Commercial Development Plan
                  submitted with its request for a license and the Licensee
                  cannot otherwise demonstrate to PHS's satisfaction that the
                  Licensee has taken, or can be expected to take within a
                  reasonable time, effective steps to achieve practical
                  application of the Licensed Products or Licensed Processes; 2)
                  has not achieved the Benchmarks as may be modified under
                  Paragraph 9.02; 3) has willfully made a false statement of,
                  or willfully omitted, a material fact in the license
                  application or in any report required by the license
                  agreement; 4) has committed a substantial breach of a covenant
                  or agreement contained in the license; 5) is not keeping
                  Licensed Products or Licensed Processes reasonably available
                  to the public after commercial use commences; 6) cannot
                  reasonably satisfy unmet health and safety needs; or

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 12 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

                  7) cannot reasonably justify a failure to comply with the
                  domestic production requirement of Paragraph 5.01 unless
                  waived. In making this determination, PHS will take into
                  account the normal course of such commercial development
                  programs conducted with sound and reasonable business
                  practices and judgment and the annual reports submitted by
                  Licensee under Paragraph 9.02. Prior to invoking this right,
                  PHS shall give written notice to Licensee providing Licensee
                  specific notice of, and a ninety (90) day opportunity to
                  respond to, PHS's concerns as to the previous items 1) to 7).
                  If Licensee fails to alleviate PHS's concerns as to the
                  previous items 1) to 7) or fails to initiate corrective action
                  to PHS's satisfaction, PHS may terminate this Agreement.

          13.07   When the public health and safety so require, and after
                  written notice to Licensee providing Licensee a sixty (60) day
                  opportunity to respond, PHS shall have the right to require
                  Licensee to grant sublicenses to responsible applicants, on
                  reasonable terms, in any Licensed Fields of Use under the
                  Licensed Patent Rights, unless Licensee can reasonably
                  demonstrate that the granting of the sublicense would not
                  materially increase the availability to the public of the
                  subject matter of the Licensed Patent Rights. PHS will not
                  require the granting of a sublicense unless the responsible
                  applicant has first negotiated in good faith with Licensee.

          13.08   PHS reserves the right according to 35 U.S.C. Section 209(f)
                  (4) to terminate or modify this Agreement if it is determined
                  that such action is necessary to meet requirements for public
                  use specified by Federal regulations issued after the date of
                  the license and such requirements are not reasonably satisfied
                  by Licensee.

          13.09   Within thirty (30) days of receipt of written notice of PHS's
                  unilateral decision to modify or terminate this Agreement,
                  Licensee may, consistent with the provisions of 37 CFR.
                  Section 404.l1, appeal the decision by written submission to
                  the Director of NIH or designee. The decision of the NIH
                  Director or designee shall be the final agency decision.
                  Licensee may thereafter exercise any and all administrative or
                  judicial remedies that may be available.

          13.10   Within ninety (90) days of termination of this Agreement under
                  this Article 13 or expiration under Paragraph 3.02, a final
                  report shall be submitted by Licensee. Any royalty payments,
                  including those related to patent expense, due to PHS shall
                  become immediately due and payable upon termination or
                  expiration. If terminated under this Article 13, sublicensees
                  may elect to convert their sublicenses to direct licenses with
                  PHS pursuant to Paragraph 4.03.

14.       GENERAL PROVISIONS

          14.01   Neither Party may waive or release any of its rights or
                  interests in this Agreement except in writing. The failure of
                  the Government to assert a right hereunder or to insist upon
                  compliance with any term or condition of this Agreement shall
                  not constitute a waiver of that

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 13 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

                  right by the Government or excuse a similar subsequent failure
                  to perform any such term or condition by Licensee.

          14.02   This Agreement constitutes the entire agreement between the
                  Parties relating to the subject matter of the Licensed Patent
                  Rights, and all prior negotiations, representations,
                  agreements, and understandings are merged into, extinguished
                  by, and completely expressed by this Agreement.

          14.03   The provisions of this Agreement are severable, and in the
                  event that any provision of this Agreement shall be determined
                  to be invalid or unenforceable under any controlling body of
                  law, such determination shall not in any way affect the
                  validity or enforceability of the remaining provisions of this
                  Agreement.

          14.04   If either Party desires a modification to this Agreement, the
                  Parties shall, upon reasonable notice of the proposed
                  modification by the Party desiring the change, confer in good
                  faith to determine the desirability of such modification. No
                  modification will be effective until a written amendment is
                  signed by the signatories to this Agreement or their
                  designees.

          14.05   The construction, validity, performance, and effect of this
                  Agreement shall be governed by Federal law as applied by the
                  Federal courts in the District of Columbia.

          l4.06   All notices required or permitted by this Agreement shall be
                  given by prepaid, first class, registered or certified mail
                  properly addressed to the other Party at the address
                  designated on the following Signature Page, or to such other
                  address as may be designated in writing by such other Party,
                  and shall be effective as of the date of the postmark of such
                  notice.

          14.07   This Agreement shall not be assigned by Licensee except a)
                  with the prior written consent of PHS, such consent to be
                  reasonably given; or b) as part of a sale or transfer of
                  substantially the entire business of Licensee relating to
                  operations which concern this Agreement. Licensee shall notify
                  PHS within ten (10) days of any assignment of this Agreement
                  by Licensee.

          14.08   Licensee agrees in its use of any PHS-supplied materials to
                  comply with all applicable Statutes, Regulations, and
                  guidelines, including Public Health Service and National
                  Institutes of Health regulations and guidelines. Licensee
                  agrees not to use the materials for research involving human
                  subjects or clinical trials in the United States without
                  complying with 21 CFR Part 50 and 45 CFR Part 46. Licensee
                  agrees not to use the materials for research involving human
                  subjects or clinical trials outside of the United States
                  without notifying PHS, in writing, of such research or trials
                  and complying with the applicable regulations of the
                  appropriate national control authorities. Written notification
                  to PHS of research involving human subjects or clinical
                  trials outside of the

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 14 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

                  United States shall be given no later than sixty (60) days
                  prior to commencement of such research or trials.

          14.09   Licensee acknowledges that it is subject to and agrees to
                  abide by the United States laws and regulations (including the
                  Export Administration Act of 1979 and Arms Export Control Act)
                  controlling the export of technical data, computer software,
                  laboratory prototypes, biological material, and other
                  commodities. The transfer of such items may require a license
                  from the cognizant agency of the U.S. Government or written
                  assurances by Licensee that it shall not export such items to
                  certain foreign countries without prior approval of such
                  agency. PHS neither represents that a license is or is not
                  required or that, if required, it shall be issued.

          14.10   Licensee agrees to mark the Licensed Products or their
                  packaging sold in the United States with all applicable U.S.
                  patent numbers and similarly to indicate "Patent Pending"
                  status. All Licensed Products manufactured in, shipped to, or
                  sold in other countries shall be marked in such a manner as to
                  preserve PHS patent rights in such countries.

          14.11   By entering into this Agreement, PHS does not directly or
                  indirectly endorse any product or service provided, or to be
                  provided, by Licensee whether directly or indirectly related
                  to this Agreement. Licensee shall not state or imply that this
                  Agreement is an endorsement by the Government, PHS, any other
                  Government organizational unit, or any Government employee.
                  Additionally, Licensee shall not use the names of NIH, CDC, or
                  PHS or their employees in any advertising, promotional, or
                  sales literature without the prior written consent of PHS.

          14.12   The Parties agree to attempt to settle amicably any
                  controversy or claim arising under this Agreement or a breach
                  of this Agreement, except for appeals of modification or
                  termination decisions provided for in Article 13. Licensee
                  agrees first to appeal any such unsettled claims or
                  controversies to the Director of NIH, or designee, whose
                  decision shall be considered the final agency decision.
                  Thereafter, Licensee may exercise any administrative or
                  judicial remedies that may be available.

          14.13   Nothing relating to the grant of a license, nor the grant
                  itself, shall be construed to confer upon any person any
                  immunity from or defenses under the antitrust laws or from a
                  charge of patent misuse, and the acquisition and use of rights
                  pursuant to 37 CFR Part 404 shall not be immunized from the
                  operation of state or Federal law by reason of the source of
                  the grant.

          14.14   Paragraphs 4.03, 8.01, 9.06, 9.07, 12.01-12.05, 13.09, 13.10,
                  and 14.12 of this Agreement shall survive termination of this
                  Agreement.

                          SIGNATURES BEGIN ON NEXT PAGE

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 15 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

                     PHS PATENT LICENSE AGREEMENT--EXCLUSIVE

                                 SIGNATURE PAGE

FOR PHS:

by:   /s/ Barbara McGarey                                        5/18/95
   ------------------------------------------------            ----------------
Barbara McGarey, J.D.                                          Date
Deputy Director, Office of Technology Transfer
National Institutes of Health

Mailing Address for Notices:

Office of Technology Transfer
National Institutes of Health
6011 Executive Boulevard, Suite 325
Rockville, Maryland 20852
Fax: (301) 402-0220

FOR Licensee:

by:   /s/ Michael T. Flavin                                      5/8/95
   -------------------------------------------------           -----------------
Michael T. Flavin, Ph.D                                        Date
President
MediChem Research, Inc.

Mailing Address for Notices:

MediChem Research, Inc.
12305 South New Avenue
Lemont, Illinois 60439
Fax: (708) 257-1505

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 16 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

                   APPENDIX A -- PATENT OR PATENT APPLICATION

Patent or Patent Application:

          USPA SN 07/861,249 "Calanolides, Novel Antiviral Compounds,
          Compositions and Uses Thereof"

          USPA SN 08/065,618 (CIP of SN 07/861,249) "Calanolides, Novel
          Antiviral Compounds, Compositions and Uses Thereof"

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 17 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

               APPENDIX B -- LICENSED FIELDS OF USE AND TERRITORY

Licensed Territory: World-wide, including all countries, states, provinces and
territories.

Licensed Fields of Use: Treatment of viral infection, viral-related infection or
viral-related disease in humans.

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 18 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

                             APPENDIX C -- ROYALTIES

Royalties:

Licensee agrees to pay to PHS a noncreditable, nonrefundable license issue
royalty in the amount of FIFTY THOUSAND DOLLARS ($50,000.00) according to the
following payment schedule:

          A.      FIFTEEN THOUSAND DOLLARS ($15,000.00) within thirty (30) days
          from the Effective Date; and

          B.      THIRTY-FIVE THOUSAND DOLLARS ($35,000.00) within one (1) year
          from the Effective Date less a credit of up to Twenty-Five Thousand
          Dollars ($25,000.00) for license issue royalties paid by Licensee to
          government of Sarawak for the manufacture and sale of Licensed
          Products.

Licensee agrees to pay to PHS a nonrefundable minimum annual royalty according
to the following schedule:

          A.      FIVE THOUSAND DOLLARS ($5,000.00) beginning in 1996 less an
          annual credit of up to Two Thousand Five Hundred Dollars ($2,500.00)
          for minimum annual royalties paid by Licensee to government of Sarawak
          for the manufacture and sale of Licensed Products; and

          B.      TEN THOUSAND DOLLARS ($10,000.00) for 1998 and subsequent
          years less an annual credit of up to Five Thousand Dollars ($5,000.00)
          for minimum annual royalties paid by Licensee to government of Sarawak
          for the manufacture and sale of Licensed Products.

Licensee agrees to pay PHS earned royalties on Net Sales as follows:

          A.      FOUR PERCENT (4.0%) of Net Sales by Licensee or an Affiliate
          of Licensee of all Licensed Products manufactured or sold in the
          Licensed Territory; and;

          B.      Licensee shall be entitled to a One Hundred percent (100%)
          credit against PHS earned royalty payments for earned royalty payments
          Licensee must pay to the government of Sarawak for the manufacture and
          sale of Licensed Products. Said reduction, however, shall not reduce
          the earned royalty payments to PHS below half of the rate provided for
          under Paragraph A above.

Licensee agrees to pay PHS Sublicensing Royalties as follows;

          A.      FOUR PERCENT (4.0%) of Net Sales by Sublicensee, or an
          Affiliate of Sublicensee of all Licensed Products manufactured and
          sold in the Licensed Territory plus Twenty per cent (20%) of the value
          of any consideration received in granting the sublicense.

          B.      Licensee shall be entitled to a One Hundred percent (100%)
          credit against PHS Sublicensing Royalties for sublicensing royalty
          payments

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 19 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

          Licensee must pay to the government of Sarawak. Said reduction,
          however, shall not reduce the sublicensing royalty payments to PHS
          below half of the rates provided for under Paragraph A above.

Licensee agrees to pay PHS benchmark royalties as follows:

          A.      TWENTY-FIVE THOUSAND DOLLARS ($25,000.00) upon filing of an
          IND application in the United States; and

          B.      FIFTY THOUSAND DOLLAR8 ($50,000.00) upon completion of Phase I
          and initiation of Phase II clinical trials; and

          C.      ONE HUNDRED THOUSAND DOLLARS ($100,000.00) upon completion of
          Phase II and initiation of Phase III clinical trials; and

          D.      TWO HUNDRED THOUSAND DOLLARS ($200,000.00) upon filing of a
          NDA application or equivalent in the United States, Europe or Japan;
          and

          E.      Licensee shall be entitled to a One Hundred percent (100%)
          credit against PHS benchmark royalties for benchmark royalty payments
          Licensee must pay to the government of Sarawak. Said reduction,
          however, shall not reduce the benchmark royalty payments to PHS below
          half of the rates individually provided for under Paragraphs A through
          D above. One hundred percent (100%) of such benchmark royalty payments
          actually made to PHS may be credited against royalties due under
          Paragraph 6.03; however, the net royalty payment in any calendar year
          may not be lower than the minimum annual royalty specified in Appendix
          C although uncredited benchmark royalty payments may be carried
          forward into subsequent years.

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 20 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

                           APPENDIX D -- MODIFICATIONS

PHS and Licensee agree to the following modifications to the Articles and
Paragraphs of this Agreement:

Article Two

          2.09    (new) "Effective Date" shall mean the date when the last party
to sign has executed this Agreement.

Article Five

          5.03    (revised) Licensee acknowledges that PHS may enter into future
Cooperative Research and Development Agreements (CRADAs) under the Federal
Technology Transfer Act of 1986 that relate to the subject matter of this
Agreement. Licensee agrees not to unreasonably deny requests for sublicense or
cross-license rights from such future collaborators with PHS when acquiring such
derivative rights is necessary in order to make a CRADA project feasible.
Licensee may request an opportunity to join as a party to the proposed CRADA,
such request not to be unreasonably denied by PHS.

          5.04    (revised) DHHS has responsibility for funding basic biomedical
research, for funding medical treatment through programs such as Medicare and
Medicaid, for providing direct medical care and, more generally, for protecting
the health and safety of the public. Because of these responsibilities, and the
public investment in the research that culminated in the Licensed Patent Rights,
Licensee agrees, upon regulatory approval for marketing, to set up a special
patient access program in the United States so that Licensed Products may be
provided to individuals who are unable to afford them.

          5.05    (revised) In addition to the reserved license of Paragraph
5.01 above, PHS reserves the right to grant nonexclusive licenses to make and to
use, but not to sell or have sold, the inventions defined by the Licensed Patent
Rights for purposes of research involving the inventions themselves, and not for
purposes of commercial manufacture or in lieu of purchase if the inventions are
available as commercial products for research purposes. The purpose of this
research license is to encourage basic research, whether conducted at an
academic or corporate facility. In order to safeguard the Licensed Patent
Rights, however, PHS shall consult with Licensee before granting to commercial
entities a research license or providing to them research samples of the
materials claimed in the Licensed Patent Rights. In the event that Licensee can
provide convincing written evidence to PHS that a commercial entity that has
been granted a research license to Licensed Patent Rights is developing the
inventions for commercial manufacture or in lieu of purchase if the inventions
are available as commercial products, then Licensee can request that PHS
terminate its research license with such commercial entities, such request not
to be unreasonably denied.

Article Six

          6.01    (revised) License agrees to pay to PHS a noncreditable,
nonrefundable license issue royalty as set forth in Appendix C within thirty
(30) days from the Effective Date of this Agreement.

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 21 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

          6.02    (revised) Licensee agrees to pay to PHS a nonrefundable
minimum annual royalty as set forth in Appendix C. The minimum annual royalty is
due and payable on January 1 of each calendar year and may be credited against
any earned royalties due for sales made in that year.

          6.08    (revised) As an additional royalty, Licensee agrees to pay PHS
upon submission of a statement and request for payment, an amount equivalent to
all reasonable expenses previously incurred by PHS in the preparation, filing,
prosecution, and maintenance of Licensed Patent Rights according to the
following schedule: one-third within sixty (60) days; one-third within one (1)
year of the Effective Date of this Agreement; and one-third within two (2) years
of the Effective Date of this Agreement. Licensee further agrees to pay PHS
annually, within sixty (60) days of PHS's submission of a statement and request
for payment, a royalty amount equivalent to all such future patent expenses
incurred during the previous calendar year, as of the date the statement and
request for payment is sent by PHS to Licensee. Licensee may elect to surrender
its rights in any country of the Licensed Territory under any Licensed Patent
Rights upon sixty (60) days' written notice to PHS and owe no payment obligation
under this paragraph for subsequent patent-related expenses incurred in that
country.

Article Seven

          7.01    (revised) Upon Effective Date of this Agreement, Licensee
agrees to take the responsibility for, as well as pay for, but to consult with
PHS in, the preparation, filing, prosecution, and maintenance of any and all
patent applications or patents included in the Licensed Patent Rights and shall
furnish copies of relevant patent-related documents to PHS, who shall retain
its principle power of attorney. Licensee may elect to surrender its rights in
any country of the Licensed Territory under any Licensed Patent Rights upon
sixty (60) days' written notice to PHS and owe no payment obligation under this
paragraph for subsequent patent-related expenses incurred in that country.

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 22 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

                            APPENDIX E -- BENCHMARKS

Licensee agrees to the following Benchmarks for its performance under this
Agreement and, within ten (10) days of achieving a Benchmark, shall notify PHS
that the Benchmark has been achieved:

A.        DEVELOPMENT OF CALANOLIDE AS A THERAPEUTIC FOR TREATMENT OF HIV
          INFECTION

          1.      Begin negotiations for an agreement with Sarawak as to the
          extent of return to Sarawak from eventual marketing of synthetic
          licensed product within one (1) month of the Effective Date of the
          Agreement. Complete agreement with Sarawak within nine (9) months of
          the Effective Date of the Agreement.

          2.      Develop and validate a plasma assay (using mouse, rat and dog
          plasma) for (+)Calanolide A. Compare behavior of (-)Dihydrocalanolide
          B (to be supplied by the National Cancer Institute (NCI)) in same. To
          be completed by February 28, 1996.

          3.      Determine pharmacology of (+)Calanolide A in the mouse, rate
          and dog following single dose IV administration. Provide results in
          the mouse to NCI to allow scheduling of efficacy and combination
          studies in hollow fiber and PBL-SCID models. To be completed by March
          31, 1996.

          4.      Develop and validate with respect to shelf stability of
          product a formulation of (+)Calanolide suitable for use in further
          toxicologic and eventual clinical evaluation. To be completed by March
          31, 1996.

          5.      Using the results in (3) to select dose and schedule, conduct
          initial dose-ranging studies in the rate and the dog with a frequency
          of administration IV that would support a two-week duration clinical
          trial. To be completed by June 30, 1996.

          6.      Formulate a quantity of GMP-prepared Calanolide A sufficient
          to complete IND-directed toxicology studies and two Phase I studies.
          To be completed by June 30, 1996.

          7.      Conduct IND-directed toxicology studies in the rat and the dog
          according to protocols reviewed by NCI's Toxicology and Pharmacology
          Branch to support a two-week IV infusion study. To be completed by
          September 30, 1996.

          8.      Complete reports and quality control to support IND-filing. To
          be completed by November 30, 1996.

          9.      File IND. To be completed by December 31, 1996.

          10.     Commence two-week infusion Phase I clinical trial. To be
          completed by March 31, 1997.

          11.     Commence Phase II clinical trials by July 31, 1997.

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 23 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

          12.     Commence Phase III clinical trials (if necessary) by
          September 30, 1998.

          13.     Submit NDA by December 31, 1999.

B.        DEVELOPMENT OF CALANOLIDE A AS A THERAPEUTIC FOR TREATMENT OF NON-HIV
VIRAL INFECTIONS

          1.      Begin assessment of activity of Calanolide A in primary
          screens against a panel of non-HIV viral strains which include but are
          not limited to: Herpes Simplex Virus-2, Herpes Simplex Virus-2,
          Cytomegalo Virus, Variella Zoster Virus, Epstein-Barr Virus,
          Adenovirus Type 5, Parainfluenza Type 3 Virus, Respiratory Syncytial
          Virus, Hepatitis B Virus, Measles Virus, Influenza A (H1N1), Influenza
          A (H3N2) by December 31, 1995.

          2.      Conclude analysis of activity of Calanolide A in primary
          screens against non-HIV viral strains by March 31, 1996.

          3.      Election of non-HIV anti-viral therapeutic areas demonstrating
          potential for development and submission of development plan for those
          indications by June 30, 1996.

C.        DEVELOPMENT OF CALANOLIDE-RELATED COMPOUNDS, INCLUDING COSTATOLIDE, AS
THERAPEUTICS FOR TREATMENT OF VIRAL INFECTIONS

          1.      Synthesize and submit to NCI for further testing at least one
          backup compound to Calanolide A per calendar year from 1995 through
          1997.

          2.      Election of Calanolide-related compounds demonstrating
          potential for development and submission of development plan for those
          compounds by December 31, 1997.

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 24 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

                                   APPENDIX B

                       MEDICHEM/STATE GOVERNMENT AGREEMENT

<Page>

                                LICENSE AGREEMENT

          This Agreement made this 27th day of December, 1995 between MEDICHEM
RESEARCH, INC., 12305 So. New Avenue, Lemont, Illinois 60439 (hereinafter
'MEDICHEM') of the one part and the GOVERNMENT OF SARAWAK, Tingkat 17, Wisma
Bapa Malaysia, Petra Jaya 93502 Kuching, Sarawak, Malaysia (hereinafter
'SARAWAK') of the other part.

          WHEREAS there exists An Agreement between the United States Government
National Institutes of Health (NIH) and SARAWAK related to Calanolide compounds

          WHEREAS MEDICHEM is the NIH licensee under U.S. Patent Application
Serial Nos. 07/861,249 and 08/065,618; and Licence is granted by NIH subject to
MEDICHEM entering into this Agreement with SARAWAK

          WHEREAS MEDICHEM wishes to obtain an exclusive license for SARAWAK's
entire right, title, and interest relating to the said Calanolide compounds in
the Agreement with NIH;

          SARAWAK and MEDICHEM agree as follows:

                              ARTICLE I DEFINITION

          SARAWAK and MEDICHEM mutually agree and declare as follows:

<Page>

          "LICENSED PRODUCT(S)" means tangible materials which, in the course of
manufacture, use, or sale would, in the absence of this Agreement, infringe one
or more claims of NIH Licensed Patent Rights that have not been held invalid or
unenforceable by an unappealed or unappealable judgment of a court of competent
jurisdiction and where applicable, includes Licensed Processes.

          "LICENSED PROCESS(ES)" means processes which, in the course of being
practiced would, in the absence of this Agreement, infringe one or more claims
of the Licensed Patent Rights that have not been held invalid or unenforceable
by an unappealed or unappealable judgment of a court of competent jurisdiction.

          "NET SALES" means the total gross receipts for sales of Licensed
Products or practice of Licensed Processes by or on behalf of Licensee or its
sublicensees, and from leasing, renting, or otherwise making Licensed Products
available to others without sale or other dispositions, whether invoiced or not,
less returns and allowances actually granted in the normal course of trading,
packing costs, insurance costs, freight out, taxes or excise duties imposed on
the transaction (if separately invoiced), and wholesale and cash discounts in
amounts customary in the trade. No deductions shall be made for commissions paid
to individuals, whether they be with independent sales agencies or regularly
employed by Licensee, or sublicensees, and on its payroll, or for the cost of
collections.

          "FIRST COMMERCIAL SALE" means the initial transfer by or on behalf of
Licensee or its sublicensees of Licensed Products or the initial practice of a
Licensed Process by or on behalf

                                        2
<Page>

of Licensee or its sublicensees in exchange for cash or some equivalent to which
value can be assigned for the purpose of determining Net Sales.

EAST ASIA REGION

                  China
                  Korea
                  Japan
                  Hong Kong
                  Macau
                  Taiwan
                  Myanmar (Burma)
                  Thailand
                  Vietnam
                  Laos
                  Malaysia
                  Singapore
                  The Philippines
                  Brunei
                  Indonesia
                  Papua New Guinea
                  Cambodia

Licensed Territory - Worldwide

                            ARTICLE II LICENSE GRANT

          SARAWAK hereby agrees to the grant of License by NIH to MEDICHEM to
make, have made, use and sell License Product in the Licensed Territory under
any right, title or interest that SARAWAK may have related to the Licensed
Product. MEDICHEM shall, subject to the conditions stipulated in this Agreement,
have the right to grant sublicences.

                              ARTICLE III PAYMENTS

          MEDICHEM agrees to pay to SARAWAK a noncreditable, nonrefundable
license issue royalty for the manufacturing and sale of Licensed Products in the
amount of SIXTEEN THOUSAND

                                        3
<Page>

SIX HUNDRED AND SIXTY SEVEN U.S. DOLLARS (US$16,667.00) according to the
following payment schedule:

          A.      FIVE THOUSAND U.S. DOLLARS (US$5,000.00) within thirty (30)
          days from the Effective Date of this Agreement; and

          B.      ELEVEN THOUSAND SIX HUNDRED AND SIXTY SEVEN U.S. DOLLARS
          (US$11,667.00) within one (1) year from the Effective Date.

          MEDICHEM agrees to pay to SARAWAK a nonrefundable minimum annual
royalty according to the following schedule:.

          A.      ONE THOUSAND SIX HUNDRED AND SIXTY SEVEN U.S. DOLLARS
          (US$1,667.00) beginning in 1996.

          B.      THREE THOUSAND THREE HUNDRED AND THIRTY THREE U.S. DOLLARS
          (US$3,333.00) for 1998 and subsequent years.

MEDICHEM agrees to pay SARAWAK earned royalties on Net Sales as follows:-

ONE AND ONE- THIRD PERCENT (1.33%) of Net Sales by Licensee or an Affiliate of
Licensee of all Licensed Products manufactured or sold in the Licensed
Territory;

                                        4
<Page>

except the royalty in the East Asia Region shall be two percent (2%) of Net
Sales.

MEDICHEM agrees to pay SARAWAK Sublicensing Royalties as follows:

ONE AND ONE-THIRD PERCENT (1.33% of Net Sales by Sublicensee, or an Affiliate of
Sublicensee of all Licensed Products manufactured and sold in the Licensed
Territory (except for the East Asia Region, the royalties rate shall be two per
cent (2.0%) of Net Sales) PLUS Six and Two-Thirds percent (6.6%) of the value of
any consideration received or receivable by MEDICHEM in granting the sublicense.

MEDICHEM agrees to pay SARAWAK benchmark royalties as follows:

A.        EIGHT THOUSAND THREE HUNDRED AND THIRTY THREE U.S. DOLLARS
(US$8,333.00) upon filing of an IND application in the United States; and

B.        SIXTEEN THOUSAND SIX HUNDRED AND SIXTY SEVEN U.S. DOLLARS
(US$16,667.00) upon completion of Phase I and initiation of Phase II clinical
trials; and

                                        5
<Page>

          C.      THIRTY-THREE THOUSAND THREE HUNDRED AND THIRTY THREE U.S.
          DOLLARS (US$33,333.00) upon completion of Phase II and initiation of
          Phase III clinical trials; and

          D.      SIXTY-SIX THOUSAND SIX HUNDRED AND SIXTY SEVEN U.S. DOLLARS
          (US$66,667.00) upon filing of a NDA application or equivalent in the
          United States, Europe or Japan.

          One Hundred percent (100%) of such benchmark royalty payments actually
          made to SARAWAK may be credited against earned royalties due above.

          MEDICHEM agrees with SARAWAK that the computation of Net Sales shall
be based on the sale price of the Licensed Products published from time to time
by MEDICHEM as the selling price of the Licnesed Products to MEDICHEM's Licensed
or Sub-Licencees, and the published Sale Price shall be made available to
SARAWAK upon request by the latter.

                       ARTICLE IV CONTINUATION OF PAYMENT

          Royalty payments hereunder shall be made in U.S. dollars within thirty
days from the end of each calendar year throughout the period of validity of
this Agreement. The payment shall be accompanied with a statement of accounts
duly certified by auditors of MEDICHEM sufficient to determine how the royalty
payment was determined or assessed.

                                        6
<Page>

          SARAWAK shall have the right to inspect and audit MEDICHEM's
accounting, sales and other records to the extent necessary to determine or
assess royalties due hereunder. SARAWAK shall pay the expenses of any such
inspection of audits.

                         ARTICLE V TERM AND TERMINATION

          1.      TERM. Except as otherwise provided in this Agreement, this
Agreement shall terminate with the expiration of the period of validity of NIH
patent covering Licensed Product.

          2.      TERMINATION. MEDICHEM may terminate this Agreement during the
term of the license granted for any reason by giving SARAWAK ninety (90) days
prior written notice, in which case the license granted pursuant to Article II
shall also terminate. MEDICHEM agrees on termination to discontinue use,
manufacture, and sale of Licensed Product for which MEDICHEM was obligated to
pay just prior to such termination and account for the stocks of any products
manufactured from the Licensed Products. Such stocks shall be sold or disposed
of under the supervision of or with the agreement of SARAWAK and the proceeds
derived therefrom, after deducting the costs of such sale, be shared by MEDICHEM
and SARAWAK equally.

          3.      OBLIGATIONS UPON TERMINATION. MEDICHEM shall be liable for all
royalty payments due to SARAWAK during the ninety (90) days notice period.

                                        7
<Page>

          4.      TERMINATION FOR DEFAULT. Either party may terminate this
Agreement on written notice to the other party, effective immediately, if any of
the following events of default should occur and not be cured within sixty (60)
days after written notice from the Notifying party describing the default:

                  (i)    the material failure of the notified party to meet its
obligations hereunder; or

                  (ii)   the filing by or against SARAWAK or MEDICHEM of a
petition under any bankruptcy or insolvency law, an assignment for the benefit
of MEDICHEM's creditors or the appointment of a receiver for substantially all
of MEDICHEM's property. Such termination shall be without prejudice to any
rights or remedies which the non-defaulting party hitherto may have against the
party in default, for any breach of this Agreement.

               ARTICLE VI WARRANTIES; DISCLAIMERS; INDEMNIFICATION

          1.      Each party represents and warrants to the other party that it
has no pre-existing contractual or other obligations to any third party which
preclude it from entering into this Agreement and meeting its obligations
hereunder, or which conflict with any provision of this Agreement.

          2.      Each party shall have the status of an independent contractor
without the authority legally to bind the other party, its officers, directors
or employees. This Agreement shall not

                                        8
<Page>

be deemed to have created any partnership between the parties hereto in relation
to any of the matters contained in this Agrement.

                     ARTICLE VII TRAINING SARAWAK PERSONNEL

          MEDICHEM agrees to train, or to provide scientific training for, two
(2) SARAWAK designated scientists in technology related to the synthesis of
Calanolide compounds at MEDICHEM'S Lemont, Illinois facilities for up to one
year. SARAWAK will pay for all transportation, compensation and living expenses
for such scientists. It is acceptable to MEDICHEM if the SARAWAK scientists
participate in clinical trials, if this participation is approved by the
institution where the clinical trials are carried out.

                           ARTICLE VIII MISCELLANEOUS

          1.      GOVERNING LAW. This Agreement shall be deemed made in and
construed in accordance with the law of England.

          2.      ACTIONS SURVIVE. All causes of action accruing to either party
under this Agreement shall survive termination for any reason, as shall those
provisions which expressly state such survival unless such survival is
conditional and the requisite conditions(s) has been fulfilled prior to or on
such termination.

                                        9
<Page>

          3.      ENTIRE AGREEMENT. This Agreement constitutes the only and
entire understanding between the parties concerning its subject matter.

          4.      AMENDMENTS. This Agreement may be amended or modified only in
writing signed by both parties.

          5.      ARBITRATION. All disputes which arise out of this Agreement
shall be settled by arbitration in accordance with the conciliation and
arbitration rules and regulations of the International Arbitration Centre in
England to which the parties hereto submit. The arbitrator shall have background
and expertise relating to the issue(s) involved. The arbitration shall be in a
mutually agreed location and the UNCITRAL (United Nations Commission on
International Trade Laws) rules shall apply to such arbitration. The parties
shall share equally the fees and expenses of the arbitration. The arbitrator's
decision shall be binding, final and non-appealable.

          6.      FORCE MAJEURE. If either party is prevented from performing
any obligation hereunder by reason of fire, explosion, strike, labor dispute,
casualty, accident, lack or failure of transportation facilities, flood, war,
civil commotion, acts of God, or any law, order or decree of any government or
subdivision thereof, then such party shall be excused from performance hereunder
to the extent and for the duration of such prevention, provided that such party
first notifies the other party in writing of such prevention.

                                       10
<Page>

          7.      PUBLICITY. Except as required by law or applicable stock
exchange rule, no public statements shall be made by either party concerning
this Agreement, its subject matter or its existence without prior consultation
with and the approval of the other party.

          8.      SEVERABILITY. In the event that any provision of this
Agreement shall be found to be illegal, invalid or unenforceable for any reason,
such shall not affect the validity of the remainder of this Agreement, which
shall be construed and interpreted as though such provision was not present.

          9.      NOTICES. Notices may be given to an officer of a party by

                  (i)    personal delivery,
                  (ii)   telex or facsimile transmission, or
                  (iii)  first class, registered mail addressed as follows:

                  If to MEDICHEM:       President
                                        12305 South New Avenue
                                        Lemont, Illinois 60439

                  If to SARAWAK:        State Financial Secretary
                                        Pejabat Setiausaha Kewangan Negeri
                                        Tingkat 17
                                        Wisma Bapa Malaysia
                                        Petra Jaya 93502 Kuching
                                        Sarawak, Malaysia

                                       11
<Page>

          Notice given under (i) above shall be deemed given on the date of
delivery and if given under (ii) shall be deemed to have been received 24 hours
after the time of transmission. Notice under (iii) above shall be deemed given
on the second week after that on which the letter is mailed.

          10.     BINDING EFFECT. This Agreement shall inure to the benefit of
and be binding on each party's successors in interest and assigns.

          11.     ASSIGNMENT. Except as otherwise contemplated by this
Agreement, either party may with the prior written consent of the other, assign
this Agreement only in connection with the sale or disposition of the entire
business of such party or that portion to which this Agreement pertains.

          12.     SUB-LICENCE. MEDICHEM may grant a sub-license to any third
party, subject to the assignee agreeing to the payment of royalty stipulated in
Article III hereinabove.

          13.     In the event MEDICHEM has no further interest in any LICENSED
PRODUCT, MEDICHEM shall notify SARAWAK and SARAWAK shall have whatever right,
title and interest it had in the LICENSED PRODUCT and MEDICHEM may be willing to
negotiate the availability of MEDICHEM's data under terms to be agreed upon.

                                       12
<Page>

          IN WITNESS WHEREOF, this Agreement has been executed in duplicate
originals on behalf of the parties by their below authorized officers as of the
date first written above. This Agreement is effective on the date that the
Government of Sarawak approves the Agreement.

                                              MEDICHEM RESEARCH, INC.

                                        BY:      /s/ Michael T. Falvin
                                              ---------------------------------
                                        Its:     President
                                              ---------------------------------
                                        Date:    January 25, 1996
                                              ---------------------------------

                                              GOVERNMENT OF SARAWAK

                                        By:      /s/ [ILLEGIBLE]
                                              ---------------------------------
                                        Its:     STATE SECRETARY, SARAWAK
                                              ---------------------------------
                                        DATE:    FEBRUARY 24, 1996.
                                              ---------------------------------

                                       13
<Page>

                                   APPENDIX C

                         MEDICHEM/VITA INVEST AGREEMENT

<Page>

          MEDICHEM Technical Information shall mean all unpatented information
related to the active ingredient (+)-calanolide A, or use or manufacture
thereof.

          Net Sales Price shall mean the gross sales price less standard trade
allowances and discounts not to exceed 5% of the gross sales price.

II.       LICENSE GRANT

          1.      All previous agreements between VITA-INVEST and MEDICHEM are
cancelled and neither party has any claims against each other with respect to
the prior agreements.

          2.      MEDICHEM hereby grants VITA-INVEST an exclusive license to use
and sell Licensed Product in Spain and Portugal, and including the right to
sublicense Licensed Product in Spain which includes its right to use and sell
Licensed Product in Spain and Portugal.

          3.      MEDICHEM hereby exclusively sublicenses VITA-INVEST under
MEDICHEM's right and interest in Patent Rights and Technical Information
licensed to MEDICHEM for using or selling Licensed Product in Spain and
Portugal. Such sublicenses shall be subject to the terms of the license to
MEDICHEM from the NIH appended to this Agreement as Exhibit B.

                                        2
<Page>

III.      PAYMENTS

          1.      VITA-INVEST shall reimburse MEDICHEM within thirty (30) days
for any licensing payments of 4% of Net Sales Price of Licensed Product sold in
Spain and Portugal, of which 2.67% of Net Sales Price of Licensed Product sold
in Spain and Portugal is paid to NIH directly by MEDICHEM (Exhibit B).

          2.      MEDICHEM agrees to supply VITA-INVEST at VITA-INVEST's request
with Licensed Product for sale in Spain and Portugal at MEDICHEM's manufacturing
costs up to $3 million dollars and VITA-INVEST shall pay MEDICHEM 15% above
MEDICHEM's manufacturing costs for such product thereafter. In the event that
MEDICHEM is unable or unwilling to supply VITA-INVEST with Licensed Product,
then MEDICHEM agrees to provide VITA-INVEST with information necessary for the
manufacture of Licensed Product and VITA-INVEST shall have the right to
manufacture in Spain and to sell Licensed Product in Spain and Portugal.

          3.      VITA-INVEST shall bear the cost of obtaining regulatory
approval to market Licensed Product in Spain and Portugal. MEDICHEM shall
provide VITA-INVEST with all technical information in the possession of MEDICHEM
and its licensees for obtaining regulatory approval in Spain and Portugal.

          4.      VITA-INVEST shall have the right to audit MEDICHEM's books to
the extent necessary to determine MEDICHEM's manufacturing costs hereunder.
VITA-INVEST shall pay the expenses of any such audits.

                                        3
<Page>

          5.      MEDICHEM will provide VITA-INVEST with a semi-annual summary
report on their research work and licensing activity on the active ingredient
(+)-calanolide A.

IV.       INFRINGEMENT

          1.      Each party agrees to notify the other party of infringement of
MEDICHEM's Patent Rights by third parties.

          2.      Either party may bring suit or action for infringement of the
MEDICHEM's Patent Rights in Spain at its expense. If it fails to take action
with respect to such infringement within three (3) months following receipt of
reasonable notice thereof, and other party may bring suit or action for
infringement at the litigating party's expense, and if necessary or desirable
the other party may be joined as a party plaintiff and shall execute all papers
and perform all such other acts as may reasonably be requested by the litigating
party. Any amount recovered, whether by judgment, award, decree or settlement,
after deduction by the litigating party of an amount equal to the expenses
incurred by it in conducting such suit or action, shall be divided equally
between MEDICHEM and VITA-INVEST.

V.        TERM AND TERMINATION

          1.      TERM. Except as otherwise provided in this Agreement, this
Agreement shall terminate with the expiration of the last to expire patent
within Patent Rights or fifteen (15) years after first commercial sale of
Licensed Product in Spain whichever of the two conditions occurs last.

                                        4
<Page>

          2.      TERMINATION. VITA-INVEST may terminate this Agreement during
the term of the license granted for any reason by giving MEDICHEM ninety (90)
days prior written notice, in which case the license granted pursuant to Section
II shall also terminate. VITA-INVEST agrees to discontinue use and sale of
Licensed Product for which VITA-INVEST was obligated to pay just prior to such
termination.

          3.      TERMINATION FOR DEFAULT. Either party may terminate this
Agreement on written notice to the other party, effective immediately, if any of
the following events of default should occur and not be cured within thirty (30)
days after written notice from the notifying party describing the default: (i)
the material failure of the notified party to meet its obligations hereunder; or
(ii) the filing by or against VITA-INVEST or MEDICHEM of a petition under any
bankruptcy or insolvency law, an assignment for the benefit of VITA-INVEST's or
MEDICHEM's creditors or the appointment of a receiver for substantially all of
VITA-INVEST's or MEDICHEM's property.

VI.       WARRANTIES, DISCLAIMERS; INDEMNIFICATION

          1.      Each party represents and warrants to the other party that it
has no pre-existing contractual or other obligations to any third party which
preclude it from entering into this Agreement and meeting its obligations
hereunder, or which conflict with any provision of this Agreement.

          2.      Each party represents and warrants to the other party that it
shall use reasonable efforts to achieve the objectives of the license. However,
the parties agree that no guarantees or warranties are made or intended as to
the success or outcome of

                                        5
<Page>

this license on an overall or interim basis, or as to the achievement of the
various goals, steps, tasks, time schedules and the other particulars of the
project.

          3.      VITA-INVEST will not be liable for Product Liability Claims
when such claims arise from the product made by MEDICHEM and sold by VITA-INVEST
in Spain and Portugal.

          4.      MEDICHEM shall not be liable to VITA-INVEST, its Affiliates or
the officers, directors or employees of any of them for any consequential
damages arising out of any breach of this Agreement by such party, including
without limitation any lost profits or incidental or indirect damages.

          5.      Each party shall have the status of an independent contractor
without the authority legally to bind the other party, its officers, directors
or employees.

VII.      MISCELLANEOUS

          1.      GOVERNING LAW. This Agreement sha1l be deemed made in and
construed in accordance with the law of Delaware.

          2.      ACTIONS SURVIVE. All causes of action accruing to either party
under this Agreement shall survive termination for any reason, as shall those
provisions which expressly state such survival unless such survival is
conditional and the requisite condition(s) has been fulfilled prior to or on
such termination.

          3.      ENTIRE AGREEMENT. This Agreement constitutes the only and
entire understanding between the parties concerning its subject matter.

          4.      AMENDMENTS. This Agreement may be amended or modified only in
writing signed by both parties.

                                        6
<Page>

          5.      ARBITRATION. All disputes which arise out of this Agreement
shall be settled by arbitration in accordance with the conciliation and
arbitration rules and regulations of the International Chamber of Commerce in
Switzerland to which the parties hereto submit. The arbitrator shall have
background and expertise relating to the issue(s) involved. The arbitration
shall be in a mutually agreed location. The parties shall share equally the cost
of such arbitration. The arbitrator's decision shall be binding, final and
non-appealable.

          6.      FORCE MAJEURE. If either party is prevented from performing
any obligation hereunder by reason of fire, explosion, strike, labor dispute,
casualty, accident, lack or failure of transportation facilities, flood, war,
civil commotion, acts of God, or any law, order or decree of any government or
subdivision thereof, then such party shall be excused from performance hereunder
to the extent and for the duration of such prevention, provided that such party
first notifies the other party in writing of such prevention.

          7.      PUBLICITY. Except as required by law or applicable stock
exchange rule, no public statements shall be made by either party concerning
this Agreement, its subject matter or its existence without prior consultation
with and the approval of the other party.

          8.      SEVERABILITY. In the event that any provision of this
Agreement shall be found to be illegal, invalid or enforceable for any reason,
such shall not affect the validity of the remainder of this Agreement, which
shall be construed and interpreted as though such provision was not present.

                                        7
<Page>

          9.      NOTICES. Notices may be given to an officer of any party by
(i) personal deliver, (ii) telex or telecopy, or (iii) first class, registered
mail addressed as follows:

          If to MEDICHEM:          12305 South New Avenue
                                   Lemont, Illinois 60439

          If to VITA-INVEST:       c/Fontsanta, 12-14
                                   08970 Sant. Joan Despi
                                   Barcelona, Spain

Notice given under (i) or (ii) above shall be deemed given on the date of
delivery or telecommunication transmission. Notice under (iii) above shall be
deemed given on the third business day after that on which the letter is mailed.

          10.     BINDING EFFECT. This Agreement shall inure to the benefit of
and be binding on each party's successors in interest and assigns.

          11.     ASSIGNMENT. Except as otherwise contemplated by this
Agreement, either party may assign this Agreement only in connection with the
sale or disposition of the entire business of such party or that portion to
which this Agreement pertains. Either party may assign this Agreement to an
Affiliate(s) without permission of the other party.

                                        8
<Page>

     IN WITNESS WHEREOF, this Agreement has been executed in duplicate originals
on behalf of the parties by their authorized officers as of the date first
written above.

     This Agreement has originally been executed in both the English and Spanish
languages. In the event that any disagreement between the two versions may
arise, the English version shall take legal precedence over the Spanish version.

                                        MEDICHEM RESEARCH, INC.

                                        By    /s/ Michael T. Falvin
                                          --------------------------
                                        Its   PRESIDENT
                                           -------------------------
                                        Date   12/14/96
                                            ------------------------

                                        VITA-INVEST, S.A.

                                        By    /s/ [ILLEGIBLE]
                                          --------------------------
                                        Its   MANAGING DIRECTOR
                                           -------------------------
                                        Date  DECEMBER 18, 1996
                                            ------------------------

                                        9
<Page>

                                LICENSE AGREEMENT

          This Agreement, made this 14th day of December, 1996, between MediChem
Research, Inc., 12305 South New Avenue, Lemont, Illinois 60439, U.S.A.
(hereinafter MEDICHEM), and Vita-Invest, S.A., c/Fontsanta, 12-14, 08970 Sant.
Joan Despi, Barcelona, Spain (hereinafter VITA-INVEST).

          WHEREAS, MEDICHEM and VITA-INVEST have entered into a Joint Venture
Agreement and license agreement related to the development of (+)-calanolide A
(Exhibit A) and now wish to enter into this revised Licensing Agreement which
grants VITA-INVEST exclusive rights to use and sell Licensed Product in Spain
and Portugal.

          NOW, THEREFORE, in consideration of the mutual covenants and
obligations contained herein, the parties agree as follows:

I.        DEFINITIONS

          Licensed Product shall mean the active ingredient (+)-calanolide A,
the making, using or selling of which utilized MEDICHEM Patent Rights or
MEDICHEM Technical Information.

          MEDICHEM Patent Rights shall mean any patents in which MEDICHEM has
any right, title or interest, including patents licensed to MEDICHEM which
relate to the active ingredient (+)-calanolide A or the use or manufacture of
such agent.

<Page>

                                   APPENDIX D

               SCHEDULE FOR REMITTANCE OF STOCK SUBSCRIPTION FUNDS
                    BY CRAUN ON BEHALF OF SARAWAK GOVERNMENT

<Page>

                                   APPENDIX D

               SCHEDULE FOR REMITTANCE OF STOCK SUBSCRIPTION FUNDS
                    BY CRAUN ON BEHALF OF SARAWAK GOVERNMENT

<Table>
<Caption>
                                                    SUBSCRIPTION
                                                    AMOUNT US $
TIME PERIOD       BENCHMARK                         @ $10,000/SHARE    SHARE
-----------       ---------                         ---------------    -----
<S>               <C>                               <C>                <C>
January, 1997     Execution of J.V. agreement
                  Incorporation of J.V. Company
                  Appointment of CRAUN's and
                  MEDICHEM's Directors to Board
                  of COMPANY
                  Assignment/Transfer of
                  MEDICHEM's patents, etc.
                  Opening of Bank account for
                  COMPANY; and appointment of
                  joint signatories for account     $ 1,200,000          120

March 15, 1997    Phase IA Trial begins

April 30, 1997    Review of Phase IA Trial
                  Progress
                  Progress if deemed satisfactory   $   800,000           80

June 15, 1997     Review of Phase IA Trial
                  Progress
                  Progress if deemed satisfactory   $ 1,000,000          100

July 15, 1997     Board of Directors' approval
                  for Phase lB after progress
                  review                            $ 1,264,000        126.4

August 31, 1997   Review of Phase lB trial
                  progress
                  Progress if deemed satisfactory   $ 1,078,000        107.8

Nov. 30, 1997     Review of Phase lB Trial
                  progress
                  Progress if deemed satisfactory   $   658,000         65.8

January, 1998     Board of Directors' approval
                  for Phase II
                  Progress if deemed satisfactory   $ 3,000,000          300
                                                    -----------        -----

                  Total                             $ 9,000,000          900
</Table>

Note(1)             If at any stage CRAUN feels that the progress of the Trial
                    is unsatisfactory, CRAUN can elect to terminate, with 15
                    days written notice, its participation in the joint venture
                    and thereafter, released from its obligations to provide
                    further funds.

Note (2)            At time of approval for Phase II, Board of Directors shall
                    determine how to raise the balance of US $12,000,000
                    required for the completion of Phase II trials. Such funds
                    should be available from the beginning of February, 1998.

Note (3)            All remittances shall be made to a bank account in USA in
                    the name of the joint venture company and operated jointly
                    by 2 Treasurers of the Company with CRAUN and MEDICHEM
                    appointing one Treasurer each.

<Page>

                                   APPENDIX E

                           MEDICHEM VESTING OF SHARES

<Table>
<Caption>
                              Shares
                              ------
<S>                            <C>
February 01, 1997                120

March 31, 1997                    80

May 31, 1997                     100

June 30, 1997                  126.4

August 31, 1997                107.8

October 31, 1997                65.8

December 01, 1997                300
                              ------
                                 900
</Table>

                                       20
<Page>

                                   APPENDIX F

                            ARTICLES OF INCORPORATION

<Page>

                                                                          PAGE 1
                                STATE OF DELAWARE

                        OFFICE OF THE SECRETARY OF STATE

     I, EDWARD J. FREEL, SECRETARY OF STATE OF THE STATE OF DELAWARE, DO HEREBY
CERTIFY THE ATTACHED IS A TRUE AND CORRECT COPY OF THE CERTIFICATE OF
INCORPORATION OF "SARAWAK MEDICHEM PHARMACEUTICALS, INC.", FILED IN THIS OFFICE
ON THE TWENTY-SEVENTH DAY OF DECEMBER, A.D. 1996, AT 10 O'CLOCK A.M.

     A CERTIFIED COPY OF THIS CERTIFICATE HAS BEEN FORWARDED TO THE NEW CASTLE
COUNTY RECORDER OF DEEDS FOR RECORDING.

                                       /s/ Edward J. Freel
                           [SEAL]  ---------------------------------------------
                                    EDWARD J. FREEL, SECRETARY OF STATE

2699346 8100                                      AUTHENTICATION:    8263196

960385640                                                   DATE:    12-27-96

<Page>

                          Certificate of Incorporation

                                       of

                      Sarawak Medichem Pharmaceuticals, Inc

     For the purpose of forming a corporation (the "Corporation") under the
General Corporation Law of the State of Delaware (the "Delaware General
Corporation Law"), the undersigned incorporator certifies as follows:

                                    Article 1

                                      Name

     The name of the Corporation is Sarawak Medichem Pharmaceuticals, Inc.

                                    Article 2

                       Initial Registered Office and Agent

     The address of the Corporation's registered office in the State of Delaware
is Corporation Trust Center, 1209 Orange Street, City of Wilmington, County of
New Castle. The name of its registered agent at this address is The Corporation
Trust Company.

                                    Article 3

                                     Purpose

     The nature of the business or purposes to be conducted or promoted by the
Corporation are to engage in any lawful act or activity for which corporations
may be organized under the Delaware General Corporation Law.

                                    Article 4

                                Authorized Shares

     The total number of shares of stock which the Corporation shall have
authority to issue is 3,000 shares of Common Stock, par value $0.01 per share.

                                    Article 5

                                     By-Laws

     The Corporation's board of directors shall have the power to adopt, amend
or repeal the Corporation's by-laws.

<Page>

                                    Article 6

                              Election of Directors

     Elections of directors need not be by written ballot unless the
Corporation's by-laws so provide.

                                    Article 7

                             Liability of Directors

     No director of the Corporation shall have personal liability to the
Corporation or its stockholders for monetary damages for breach of his or her
fiduciary duty as a director, except for liability: (1) for a breach of the
directors duty of loyalty to the Corporation or its stockholders; (ii) for acts
or omissions not in good faith or which involve intentional misconduct or a
knowing violation of law; (iii) under Section 174 of the Delaware General
Corporation Law; or (iv) for any transaction from which the director derived an
improper personal benefit.

     If the Delaware General Corporation Law is amended to authorize a further
limitation or elimination of the liability of directors, then in addition to the
limitation on personal liability provided in this Article 7, the liability of a
director of the Corporation shall be further limited or eliminated to the
fullest extent permitted by the Delaware General Corporation Law as so amended.

     No amendment or repeal of this Article 7 shall apply to or have any effect
on the liability or alleged liability of any director of the Corporation for or
in respect of acts or omissions occurring prior to the amendment or repeal.

                                   Article 8

                    Indemnification of Directors and Officers

     The Corporation shall indemnify each person who was or is made a party or
is threatened to be made a party to any threatened, pending or completed action,
suit or proceeding, whether civil, criminal, administrative or investigative,
other than an action by or in the right of the Corporation (a "proceeding") by
reason of the fact that he or she, or the person of whom he or she is the legal
representative, is or was a director or officer of the Corporation or, while a
director or officer, is or was serving at the corporation's request as a
director, officer, trustee, employee or agent of another corporation or of a
partnership, joint venture, trust or other enterprise, against all expenses
(including attorneys' fees), judgments, fines and amounts paid in settlement
which be or she reasonably incurs in connection with the proceeding, to the
fullest extent authorized by the Delaware General Corporation Law, as it now
exists and as it may be amended (but in the case of any amendment, only to the
extent that the amendment authorizes the Corporation to provide broader
indemnification rights than were permitted prior to the

                                       -2-
<Page>

amendment). This right to indemnification shall continue as to a person who has
ceased to be a director or officer of the Corporation and shall inure to the
benefit of his or her heirs and legal representatives.

     The right to indemnification under this Article 8 shall include the right
to be paid by the Corporation the expenses incurred in defending any proceeding
in advance of its final disposition. If required by the Delaware General
Corporation Law, however, the payment of the expenses incurred by a director or
officer of the Corporation in his or her capacity as such (and not in any other
capacity in which he or she renders or rendered service while serving as an
officer or director) shall be made only on delivery of an undertaking by the
director or officer to repay all amounts advanced if it is ultimately determined
that he or she is not entitled to indemnification under this Article 8 (or
otherwise).

     The Corporation, by action of its board of directors, may provide
indemnification to its employees and agents with the same scope and effect as
the indemnification provided to its directors and officers in this Article 8.

                                    Article 9

                                  Incorporator

     The name and mailing address of the sole incorporator of the Corporation
are:

<Table>
<Caption>
              NAME                      MAILING ADDRESS
            <S>                          <C>
            Laurence J. Devries
                                         Johnson and Colmar
                                         300 South Wacker Drive, Suite 1000
                                         Chicago, Illinois 60606
</Table>

     Signed on December 24, 1995.

     /s/ Laurence J. DeVries
     ---------------------------------------
     Laurence J. DeVries, INCORPORATOR

                                       -3-
<Page>

                                   APPENDIX G

                           LIST OF MEDICHEM SCIENTISTS

<Page>

                               CALANOLIDE PROJECT                    APPENDIX G

                          MEDICHEM SCIENTISTS INVOLVED

1.   MICHAEL T. FLAVIN, PH.D.

2.   ZE-QI XU, PH.D. (CALANOLIDE PROJECT MANAGER)

3.   DAVID ZEMBOWER, PH.D.

4.   SERGY DZEKHSTER, M.S.

5.   LIN LIN, M.S.

6.   BO SHEN, M.S.

7.   WEIGUO NIE, M.S.

8.   JOHN D. RIZZO, B.S.

9.   DARKO BRANKOVIC, B.S.

10.  ALBERT KHILEVICH, B.S.

<Page>

                                   Appendix H

                     DETERMINATION/DEFINITION OF NET PROFIT

<Table>
<Caption>
                                                                   (UNIT: US $)
<S>                                                                         <C>
Gross Sales                                                                  XXX
   Less: Returns and Allowances                                             -XXX
                                                                   -------------
Net Sales                                                                    XXX
   Less: Cost of Goods Sold (Produced)                                      -XXX
                                                                   -------------
Gross Margin                                                                 XXX
   Less: Sales, General, and Administrative Expenses                        -XXX
                                                                   -------------
Operating Income                                                             XXX
   Less: Interest and Taxes                                                 -XXX
                                                                   -------------
Net Profit (Loss)                                                            XXX
                                                                   -------------
</Table>

Note (1): Cost of Goods Sold (Produced) includes but is not limited to royalty
payments, subcontracting fees, direct salaries and wages, supplies, and raw
materials

Note (2): All recognition of revenues, costs, expenses, and profit shall be
accounted for using Generally Accepted Accounting Principles (GAAP)

Note (3): All Net Profits/Losses shall be shared by each shareholder in a 50/50
proportion<Page>

                                                                   Exhibit 10.15

                          NATIONAL INSTITUTES OF HEALTH
                           CENTERS FOR DISEASE CONTROL

                      PATENT LICENSE AGREEMENT -- EXCLUSIVE

                                   COVER PAGE

--------------------------------------------------------
For Office of Technology Transfer/NIH internal use only:
--------------------------------------------------------
Patent License Number: L-135-94

Serial Numbers of Licensed Patents: USPA SN 07/861,249
                                         SN 08/065,618

Licensee: MediChem Research, Inc.

CRADA Number (if applicable):

Additional Remarks:
--------------------------------------------------------

This Patent License Agreement, hereinafter referred to as the "Agreement,"
consists of this Cover Page, an attached Agreement, a Signature Page, Appendix A
(Patent or Patent Application), Appendix B (Fields of Use and Territory),
Appendix C (Royalties), Appendix D (Modifications), and Appendix E (Benchmarks).
This Cover Page serves to identify the Parties to this Agreement:

       1)     The National Institutes of Health ("NIB") or the Centers for
              Disease Control ("CDC"), hereinafter singly or collectively
              referred to as "PES," agencies of the United States Public Health
              Service within the Department of Health and Human Services
              ("DHHS"); and

       2)     The person, corporation, or institution identified above and/or on
              the Signature Page, having offices at the address indicated on the
              Signature Page, hereinafter referred to as "Licensee."

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 1 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

                     PHS PATENT LICENSE AGREEMENT-EXCLUSIVE

       PHS and Licensee agree as follows:

1.     BACKGROUND

       1.01   In the course of conducting biomedical and behavioral research,
              PHS investigators made inventions that may have commercial
              applicability.

       1.02   By assignment of rights from PHS employees and other inventors,
              DHHS, on behalf of the United States Government, owns intellectual
              property rights claimed in any United States and foreign patent
              applications or patents corresponding to the assigned inventions.
              DHHS also owns any tangible embodiments of these inventions
              actually reduced to practice by PHS.

       1.03   The Assistant Secretary for Health of DHHS has delegated to PHS
              the authority to enter into this Agreement for the licensing of
              rights to these inventions under 35 U.S.C. Sections 200-212, the
              Federal Technology Transfer Act of 1986, 15 U.S.C. Section 3710a,
              and/or the regulations governing the licensing of Government-owned
              inventions, 37 CFR Part 404.

       1.04   PHS desires to transfer these inventions to the private sector
              through commercialization licenses to facilitate the commercial
              development of products and processes for public use and benefit.

       1.05   Licensee desires to acquire commercialization rights to certain of
              these inventions in order to develop processes, methods, or
              marketable products for public use and benefit.

2.     DEFINITIONS

       2.01   "Licensed Patent Rights" shall mean:

              a)     U.S. patent applications and patents listed in Appendix A,
                     all divisions and continuations of these applications, all
                     patents issuing from such applications, divisions, and
                     continuations, and any reissues, reexaminations, and
                     extensions of all such patents;

              b)     to the extent that the following contain one or more claims
                     directed to the invention or inventions claimed in a)
                     above: i) continuations-in-part of a) above; ii) all
                     divisions and continuations of these continuations-in-part;
                     iii) all patents issuing from such continuations-in-part,
                     divisions, and continuations; and iv) any reissues,
                     reexaminations, and extensions of all such patents;
              c)     to the extent that the following contain one or more claims
                     directed to the invention or inventions claimed in a)
                     above:

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 2 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

                     all counterpart foreign applications and patents to a) and
                     b) above, including those listed in Appendix A.

                     Licensed Patent Rights shall not include b) or c) above to
                     the extent that they contain one or more claims directed to
                     new matter which is not the subject matter of a claim in a)
                     above.

       2.02   "Licensed Product(s)" means tangible materials which, in the
              course of manufacture, use, or sale would, in the absence of this
              Agreement, infringe one or more claims of the Licensed Patent
              Rights that have not been held invalid or unenforceable by an
              unappealed or unappealable judgement of a court of competent
              jurisdiction.

       2.03   "Licensed Process(es)" means processes which, in the course of
              being practiced would, in the absence of this Agreement, infringe
              one or more claims of the Licensed Patent Rights that have not
              been held invalid or unenforceable by an unappealed or
              unappealable judgment of a court of competent jurisdiction.

       2.04   "Licensed Territory" means the geographical area identified in
              Appendix B.

       2.05   "Net Sales" means the total gross receipts for sales of Licensed
              Products or practice of Licensed Processes by or on behalf of
              Licensee or its sublicensees, and from leasing, renting, or
              otherwise making Licensed Products available to others without
              sale or other dispositions, whether invoiced or not, less returns
              and allowances actually granted, packing costs, insurance costs,
              freight out, taxes or excise duties imposed on the transaction (if
              separately invoiced), and wholesaler and cash discounts in amounts
              customary in the trade. No deductions shall be made for
              commissions paid to individuals, whether they be with independent
              sales agencies or regularly employed by Licensee, or sublicensees,
              and on its payroll, or for the cost of collections.

       2.06   "First Commercial Sale" means the initial transfer by or on behalf
              of Licensee or its sublicensees of Licensed Products or the
              initial practice of a Licensed Process by or on behalf of Licensee
              or its sublicensees in exchange for cash or some equivalent to
              which value can be assigned for the purpose of determining Net
              Sales.

       2.07   "Government" means the government of the United States of America.

       2.08   "Licensed Fields of Use" means the fields of use identified in
              Appendix B.

3.     GRANT OF RIGHTS

       3.01   PHS hereby grants and Licensee accepts, subject to the terms and
              conditions of this Agreement, an exclusive license to Licensee
              under the Licensed Patent Rights in the Licensed Territory to make
              and have made, to use and have used, and to sell and have sold any

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 3 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

              Licensed Products in the Licensed Fields of Use and to practice
              and have practiced any Licensed Processes in the Licensed Fields
              of Use.

       3.02   This Agreement confers no license or rights by implication,
              estoppel, or otherwise under any patent applications or patents of
              PHS other than Licensed Patent Rights regardless of whether such
              patents are dominant or subordinate to Licensed Patent Rights.

4.     SUBLICENSING

       4.01   Upon written approval by PHS, which approval will not be
              unreasonably withheld, Licensee may enter into sublicensing
              agreements under the Licensed Patent Rights.

       4.02   Licensee agrees that any sublicensee granted by it shall provide
              that the obligations to PHS of Paragraphs 5.01-5.05, 8.01, 10.01,
              10.02, 12.05, and 13.08-13.11 of this Agreement shall be binding
              upon the sublicensee as if it were a party to this Agreement.
              Licensee further agrees to attach copies of these Paragraphs to
              all sublicense agreements.

       4.03   Any sublicensee granted by Licensee shall provide for the
              termination of the sublicense, or the conversion to a license
              directly between such sublicensees and PHS, at the option of the
              sublicensee, upon termination of this Agreement under Article 13.
              Such conversion is subject to PHS approval and contingent upon
              acceptance by the sublicensee of the remaining provisions of this
              Agreement.

       4.04   Licensee agrees to forward to PHS a copy of each fully executed
              sublicense agreement postmarked within sixty (60) days of the
              execution of such agreement.

5.     STATUTORY AND PHS REQUIREMENTS AND RESERVED GOVERNMENT RIGHTS

       5.01   PHS reserves on behalf of the Government an irrevocable,
              nonexclusive, nontransferable, royalty-free license for the
              practice of all inventions licensed under the Licensed Patent
              Rights throughout the world by or on behalf of the Government and
              on behalf of any foreign government or international organization
              pursuant to any existing or future treaty or agreement to which
              the Government is a signatory.

       5.02   Licensee agrees that products used or sold in the United States
              embodying Licensed Products or produced through use of Licensed
              Processes shall be manufactured substantially in the United
              States, unless a written waiver is obtained in advance from PHS.

       5.03   Licensee acknowledges that PHS may enter into future Cooperative
              Research and Development Agreements (CRADAs) under the Federal
              Technology Transfer Act of 1986 that relate to the subject matter
              of

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 4 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

              this Agreement. Licensee agrees not to unreasonably deny requests
              for sublicense or cross-license rights from such future
              collaborators with PHS when acquiring such derivative rights is
              necessary in order to make a CRADA project feasible. Licensee may
              request an opportunity to join as a party to the proposed CRADA.

       5.04   DHHS has responsibility for funding basic biomedical research, for
              funding medical treatment through programs such as Medicare and
              Medicaid, for providing direct medical care and, more generally,
              for protecting the health and safety of the public. Because of
              these responsibilities, and the public investment in the research
              that culminated in the Licensed Patent Rights, PHS may require
              Licensee to submit documentation in confidence showing a
              reasonable relationship between the pricing of a Licensed Product,
              the public investment in that product, and the health and safety
              needs of the public. This paragraph shall not restrict the right
              of Licensee to price a Licensed Product or Licensed Process so as
              to obtain a reasonable profit for its sale or use. This Paragraph
              5.04 does not permit PHS to set or dictate prices for Licensed
              Products or Licensed Processes.

       5.05   In addition to the reserved license of Paragraph 5.01 above, PHS
              reserves the right to grant nonexclusive licenses to make and to
              use the inventions defined by the Licensed Patent Rights for
              purposes of research involving the inventions themselves, and not
              for purposes of commercial manufacture or in lieu of purchase if
              the inventions are available as commercial products for research
              purposes. The purpose of this research license is to encourage
              basic research, whether conducted at an academic or corporate
              facility. In order to safeguard the Licensed Patent Rights,
              however, PHS shall consult with Licensee before granting to
              commercial entities a research license or providing to them
              research samples of the materials claimed in the Licensed Patent
              Rights.

6.     ROYALTIES AND REIMBURSEMENT

       6.01   Licensee agrees to pay to PHS a noncreditable, nonrefundable
              license issue royalty as set forth in Appendix C within thirty
              (30) days from the date that this Agreement becomes effective.

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 5 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

       6.02   Licensee agrees to pay to PHS a nonrefundable minimum annual
              royalty as set forth in Appendix C. The minimum annual royalty is
              due and payable on January 1 of each calendar year and may be
              credited against any earned royalties due for sales made in that
              year. The minimum annual royalty due for the first calendar year
              of this Agreement may be prorated according to the fraction of the
              calendar year remaining between the Effective Date of this
              Agreement and the next subsequent January 1.

       6.03   Licensee agrees to pay PHS earned royalties as set forth in
              Appendix C.

       6.04   Licensee agrees to pay PHS benchmark royalties as set forth in
              Appendix C.

       6.05   A claim of a patent or patent application licensed under this
              Agreement shall cease to fall within the Licensed Patent Rights
              for the purpose of computing the minimum annual royalty and earned
              royalty payments in any given country on the earliest of the dates
              that a) the claim has been abandoned but not continued, b) the
              patent expires, c) the patent is no longer maintained by the
              Government, or d) all claims of the Licensed Patent Rights have
              been held to be invalid or unenforceable by an unappealed or
              unappealable decision of a court of competent jurisdiction or
              administrative agency.

       6.06   No multiple royalties shall be payable because any Licensed
              Products or Licenced Processes are covered by more than one of the
              Licensed Patent Rights.

       6.07   On sales of Licensed Products by Licensee to sublicensees or
              affiliated parties or on sales made in other than an arm's-length
              transaction, the value of the Net Sales attributed under this
              Article 6 to such a transaction shall be that which would have
              been received in an arm's-length transaction, based on sales of
              like quantity and quality products on or about the time of such
              transaction.

       6.08   As an additional royalty, Licensee agrees to pay PHS, within sixty
              (60) days of PHS's submission of a statement and request for
              payment, an amount equivalent to all reasonable expenses
              previously incurred by PHS in the preparation, filing,
              prosecution, and maintenance of Licensed Patent Rights. Licensee
              further agrees to pay PHS annually, within sixty (60) days of
              PHS's submission of a statement and request for payment, a royalty
              amount equivalent to all such future patent expenses incurred
              during the previous calendar year, as of the date the statement
              and request for payment is sent by PHS to Licensee. Fifty percent
              (50%) of the cumulative amount of such payments may be credited
              against royalties due under Paragraph 6.03; however, the net
              royalty payment in any calendar year may not be lower than the
              minimum annual royalty specified in Appendix B. Licensee may elect
              to surrender its rights in any country of the Licensed Territory
              under any Licensed Patent Rights

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 6 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

              upon sixty (60) days' written notice to PHS and owe no payment
              obligation under this paragraph for subsequent patent-related
              expenses incurred in that country.

7.     DOMESTIC AND FOREIGN PATENT FILING, PROSECUTION, AND MAINTENANCE

       7.01   PHS agrees to take responsibility for, but to consult with the
              Licensee in, the preparation, filing, prosecution, and maintenance
              of any and all patent applications or patents included in the
              Licensed Patent Rights and shall furnish copies of relevant
              patent-related documents to Licensee.

       7.02   Each party shall promptly inform the other as to all matters that
              come to its attention that may affect the preparation, filing,
              prosecution, or maintenance of the Licensed Patent Rights and
              permit each other to provide comments and suggestions with respect
              to the preparation, filing, and prosecution of Licensed Patent
              Rights, which comments and suggestions shall be considered by the
              other party.

8.     RECORD KEEPING

       8.01   Licensee agrees to keep accurate and correct records of Licensed
              Products made, used, or sold and Licensed Processes practiced
              under this Agreement appropriate to determine the amount of
              royalties due PHS. Such records shall be retained for at least
              five (5) years following a given reporting period. They shall be
              available during normal business hours for inspection at the
              expense of PHS by an accountant or other designated auditor
              selected by PHS for the sole purpose of verifying reports and
              payments hereunder. The accountant or auditor shall only disclose
              to PHS information relating to the accuracy of reports and
              payments made under this Agreement. If an inspection shows an
              underreporting or underpayment in excess of five percent (5%) for
              any twelve (12) month period, then Licensee shall reimburse PHS
              for the cost of the inspection at the time Licensee pays the
              unreported royalties, including any late charges as required by
              Paragraph 7.06 of this Agreement. All payments required under this
              Paragraph shall be due within thirty (30) days of the date PHS
              provides Licensee notice of the payment due.

9.     REPORTS ON PROGRESS, BENCHMARKS, SALES, AND PAYMENTS

       9.01   Prior to signing this Agreement, Licensee has provided to PHS a
              written commercialization plan ("Commercial Development Plan")
              under which Licenses intends to bring the subject matter of the
              Licensed Patent Rights into commercial use. The Commercial
              Development Plan is hereby incorporated by reference into this
              Agreement. Based on this plan, performance benchmarks are
              determined as specified in Appendix E ("Benchmarks").

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 7 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

       9.02   Licensee shall provide written annual reports on its product
              development progress or efforts to commercialize under the
              Commercial Development Plan for each of the Licensed Fields of Use
              within sixty (60) days after December 31 of each calendar year.
              These progress reports shall include, but not be limited to:
              progress on research and development, status of applications for
              regulatory approvals, manufacturing, sublicensing, marketing, and
              sales during the preceding calendar year, as well as plans for the
              present calendar year. If reported progress differs from that
              projected in the Commercial Development Plan and Benchmarks,
              Licensee shall explain the reasons for such differences. Licensee
              may propose amendments in any such annual report to the Commercial
              Development Plan, acceptance of which by PHS may not unreasonably
              be denied. Licensee agrees to provide any additional data
              reasonably required by PHS to evaluate Licensee's performance.
              Licensee may amend the Benchmarks at any time upon written consent
              by PHS. PHS shall not unreasonably withhold approval of any
              request of Licensee to extend the time periods of this schedule if
              such request is supported by a reasonable showing by Licensee of
              diligence in its performance under the Commercial Development Plan
              and toward bringing the Licensed Products to the point of
              practical application as defined in 37 CFR 404.3(d). Licensee
              shall amend the Commercial Development Plan and Benchmarks at the
              request of PHS to address any Licensed Fields of Use not
              specifically addressed in the plan originally submitted.

       9.03   Licensee shall report to PHS the date of the First Commercial Sale
              in each country in the Licensed Territory within thirty (30) days
              of such occurrence.

       9.04   Licensee shall submit to PHS within sixty (60) days after each
              calendar half-year ending June 30 and December 31 a royalty report
              setting forth for the preceding half-year period the amount of the
              Licensed Products sold or Licensed Processes practiced by or on
              behalf of Licensee in each country within the Licensed Territory,
              the Net Sales, and the amount of royalty accordingly due. With
              each such royalty report, Licensee shall submit payment of the
              earned royalties due. If no earned royalties are due to PHS for
              any reporting period, the written report shall so state. The
              royalty report shall be certified as correct by an authorized
              officer of Licensee and shall include a detailed listing of all
              deductions made under Paragraph 2.05 to determine Net Sales made
              under Article 6 to determine royalties due.

       9.05   Licensee agrees to forward semi-annually to PHS a copy of such
              reports received by Licensee from its sublicensees during the
              preceding half-year period as shall be pertinent to a royalty
              accounting to PHS by Licensee for activities under the sublicense.

       9.06   Royalties due under Article 6 shall be paid in D.S. dollars. For
              conversion of foreign currency to U.S. dollars, the conversion
              rate shall be the rate quoted in The Wall Street Journal on the
              day that the payment is due. All checks and bank drafts shall be
              drawn on

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 8 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

              United States banks and shall be payable to NIH/Patent Licensing
              at the address shown on the Signature Page below. Any loss of
              exchange, value, taxes, or other expenses incurred in the transfer
              or conversion to U.S. dollars shall be paid entirely by Licensee.
              All royalty payments due under this Agreement shall be mailed to
              the following address: NIH, P.O. Box 360120, Pittsburgh,
              Pennsylvania 15251-6120. The royalty report required by paragraph
              9.04 of this Agreement shall accompany each such payment and a
              copy of such report shall also be mailed to PHS at its address for
              notices indicated on the Signature Page of this Agreement.

       9.07   Late charges will be applied to any overdue payments as required
              by the U.S. Department of Treasury in the Treasury Fiscal
              Requirements Manual, Section 8025.40. The payment of such late
              charges shall not prevent PHS from exercising any other rights it
              may have as a consequence of the lateness of any payment.

       9.08   All plans and reports required by this Article 9 and marked
              "confidential" by Licensee shall be treated by PHS as commercial
              and financial information obtained from a person and as privileged
              and confidential and, to the extent permitted by law, shall not be
              subject to disclosure under the Freedom of Information Act, 5
              U.S.C. Section 552.

10.    PERFORMANCE

       10.01  Licensee shall use its reasonable best efforts to introduce the
              Licensed Products into the commercial market or apply the
              Licensed Processes to commercial use as soon as practicable.
              "Reasonable best efforts" for the purpose of this provision shall
              include, but not be limited to, adherence to the Commercial
              Development Plan and performance of the Benchmarks. The efforts of
              a sublicensee shall be considered the efforts of Licensee.

       10.02  Upon the First Commercial Sale, until the expiration of this
              Agreement, Licensee shall use its reasonable best efforts to keep
              Licensed Products and Licensed Processes reasonably accessible to
              the public.

11.    INFRINGEMENT AND PATENT ENFORCEMENT

       11.01  PHS and Licensee agree to notify each other promptly of each
              infringement or possible infringement, as well as any facts which
              may affect the validity, scope, or enforceability of the Licensed
              Patent Rights of which either Party becomes aware.

       11.02  Pursuant to this Agreement and the provisions of Chapter 29 of
              Title 35, United States Code, Licensee may a) bring suit in its
              own name, at its own expense, and on its own behalf for
              infringement of presumably valid claims in the Licensed Patent
              Rights; b) in any such suit, enjoin infringement and collect for
              its use, damages,

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 9 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

              profits, and awards of whatever nature recoverable for such
              infringement; and c) settle any claim or suit for infringement of
              the Licensed Patent Rights-provided, however, that PHS and
              appropriate Government authorities shall have the first right to
              take such actions and shall have a continuing right to intervene
              in such suit. Licensee shall take no action to compel the
              Government either to initiate or to join in any such suit for
              patent infringement. Licensee may request the Government to
              initiate or join any such suit if necessary to avoid dismissal of
              the suit. Should the Government be made a party to any such suit,
              Licensee shall reimburse the Government for any costs, expenses,
              or fees which the Government incurs as a result of such motion or
              other action, including any and all costs incurred by the
              Government in opposing any such motion or other action. Upon
              Licensee's payment of all costs incurred by the Government as a
              result of Licensee's joinder motion or other action, these actions
              by Licensee will not be considered a default in the performance of
              any material obligation under this Agreement. In all cases,
              Licensee agrees to keep PHS reasonably apprised of the status and
              progress of any litigation. Before Licensee commences an
              infringement action, Licensee shall notify PHS and give careful
              consideration to the views of PHS and to any potential effects of
              the litigation on the public health in deciding whether to bring
              suit.

       11.03  In any infringement action commenced under Paragraph 11.02, the
              expenses including costs, fees, attorney fees, and disbursements,
              shall be paid by Licensee. Up to fifty percent (50%) of such
              expenses may be credited against the royalties payable to PHS
              under Paragraph 6.03 under the Licensed Patent Rights in the
              country in which such a suit is filed. In the event that fifty
              percent (50%) of such expenses exceed the amount of royalties
              payable by Licensee in any calendar year, the expenses in excess
              may be carried over as a credit on the same basis into succeeding
              calendar years. A credit against litigation expenses, however, may
              not reduce the royalties due in any calendar year to less than the
              minimum annual royalty. Any recovery made by Licensee, through
              court judgment or settlement, first shall be applied to reimburse
              PHS for royalties withheld as a credit against litigation expenses
              and then to reimburse Licensee for its litigation expense. Any
              remaining recoveries shall be shared equally by Licensee and PHS.

       11.04  PHS shall cooperate fully with Licensee in connection with an
              infringement action initiated under Paragraph 11.02. PHS agrees
              promptly to provide access to all necessary documents and to
              render reasonable assistance in response to a request by Licensee.

       11.05  In the event that a declaratory judgment action alleging
              invalidity or non-infringement of any of the Licensed Patent
              Rights shall be brought against Licensee or raised by way of
              counterclaim or affirmative defense in an infringement suit
              brought by Licensee under Paragraph 11.02, pursuant to this
              Agreement and the provisions of Chapter 29 of Title 35, United
              States Code or other statutes, Licensee may a) defend the suit in
              its own name, at its own expense,

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 10 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

              and on its own behalf for presumably valid claims in the Licensed
              Patent Rights; b) in any such suit, ultimately to enjoin
              infringement and to collect for its use, damages, profits, and
              awards of whatever nature recoverable for such infringement; and
              c) settle any claim or suit for declaratory judgment involving the
              Licensed Patent Rights-provided, however, that PHS and appropriate
              Government authorities shall have the first right to take such
              actions and shall have a continuing right to intervene in such
              suit. Licensee shall take no action to compel the Government
              either to initiate or to join in any such declaratory judgment
              action. Licensee may request the Government to initiate or join
              any such suit if necessary to avoid dismissal of the suit. Should
              the Government be made a party to any such suit by motion or any
              other action of Licensee, Licensee shall reimburse the Government
              for any costs, expenses, or fees which the Government incurs as a
              result of such motion or other action. Upon Licensee's payment of
              all costs incurred by the Government as a result of Licensee's
              joinder motion or other action, these actions by Licensee will not
              be considered a default in the performance of any material
              obligation under this Agreement. If Licensee elects not to defend
              against such declaratory judgment action, PHS, at its option, may
              do so at its own expense. In all cases, Licensee agrees to keep
              PHS reasonably apprised of the status and progress of any
              litigation. Before Licensee commences an infringement action,
              Licensee shall notify PHS and give careful consideration to the
              views of PHS and to any potential effects of the litigation on the
              public health in deciding whether to bring suit.

12.    NEGATION OF WARRANTIES AND INDEMNIFICATION

       12.01  PHS offers no warranties other than those specified in Article 1.

       12.02  PHS does not warrant the validity of the Licensed Patent Rights
              and makes no representations whatsoever with regard to the scope
              of the Licensed Patent Rights, or that the Licensed Patent Rights
              may be exploited without infringing other patents or other
              intellectual property rights of third parties.

       12.03  PHS MAKES NO WARRANTIES, EXPRESSED OR IMPLIED, OF MERCHANTABILITY
              OR FITNESS FOR A PARTICULAR PURPOSE OF ANY SUBJECT MATTER DEFINED
              BY THE CLAIMS OF THE LICENSED PATENT RIGHTS.

       12.04  PHS does not represent that it will commence legal actions against
              third parties infringing the Licensed Patent Rights.

       12.05  Licensee shall indemnify and hold PHS, its employees, students,
              fellows, agents, and consultants harmless from and against all
              liability, demands, damages, expenses, and losses, including but
              not limited to death, personal injury, illness, or property damage
              in connection with or arising out of a) the use by or on behalf of
              Licensee, its sublicensees, directors, employees, or third parties
              of any Licensed Patent Rights, or b) the design, manufacture,

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 11 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

              distribution, or use of any Licensed Products, Licensed Processes
              or materials, or other products or processes developed in
              connection with or arising out of the Licensed Patent Rights.
              Licensee agrees to maintain a liability insurance program
              consistent with sound business practice.

13.    TERM, TERMINATION, AND MODIFICATION OF RIGHTS

       13.01  This Agreement is effective when signed by all parties and shall
              extend to the expiration of the last to expire of the Licensed
              Patent Rights unless sooner terminated as provided in this Article
              13.

       13.02  In the event that Licensee is in default in the performance of any
              material obligations under this Agreement, and if the default has
              not been remedied within ninety (90) days after the date of notice
              in writing of such default, PHS may terminate this Agreement by
              written notice.

       13.03  At least thirty (30) days prior to filing a petition in
              bankruptcy, Licensee must inform PHS in writing of its intention
              to file the petition in bankruptcy or of a third party's intention
              to file an involuntary petition in bankruptcy.

       13.04  In the event that Licensee becomes insolvent, files a petition in
              bankruptcy, has such a petition filed against it, determines to
              file a petition in bankruptcy, or receives notice of a third
              party's intention to file an involuntary petition in bankruptcy,
              Licensee shall immediately notify PHS in writing. Furthermore, PHS
              shall have the right to terminate this Agreement by giving
              Licensee written notice. Termination of this Agreement is
              effective upon Licensee's receipt of the written notice.

       13.05  Licensee shall have a unilateral right to terminate this Agreement
              and/or any licenses in any country by giving PHS sixty (60) days'
              written notice to that effect.

       13.06  PHS shall specifically have the right to terminate or modify, at
              its option, this Agreement, if PHS determines that the Licensee:
              1) is not executing the Commercial Development Plan submitted with
              its request for a license and the Licensee cannot otherwise
              demonstrate to PHS's satisfaction that the Licensee has taken, or
              can be expected to take within a reasonable time, effective steps
              to achieve practical application of the Licensed Products or
              Licensed Processes; 2} has not achieved the Benchmarks as may be
              modified under Paragraph 9.02; 3) has willfully made a false
              statement of, or willfully omitted, a material fact in the license
              application or in any report required by the license agreement; 4)
              has committed a substantial breach of a covenant or agreement
              contained in the license; 5) is not keeping Licensed Products or
              Licensed Processes reasonably available to the public after
              commercial use commences; 6) cannot reasonably satisfy unmet
              health and safety needs; or

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 12 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

              7) cannot reasonably justify a failure to comply with the domestic
              production requirement of Paragraph 5.01 unless waived. In making
              this determination, PHS will take into account the normal course
              of such commercial development programs conducted with sound and
              reasonable business practices and judgment and the annual reports
              submitted by Licensee under Paragraph 9.02. Prior to invoking this
              right, PHS shall give written notice to Licensee providing
              Licensee specific notice of, and a ninety (90) day opportunity to
              respond to, PHS's concerns as to the previous items 1) to 7). If
              Licensee fails to alleviate PHS's concerns as to the previous
              items 1) to 7) or fails to initiate corrective action to PHS's
              satisfaction, PHS may terminate this Agreement.

       13.07  When the public health and safety so require, and after written
              notice to Licensee providing Licensee a sixty (60) day opportunity
              to respond, PHS shall have the right to require Licensee to grant
              sublicensee to responsible applicants, on reasonable terms, in any
              Licensed Fields of Use under the Licensed Patent Rights, unless
              Licensee can reasonably demonstrate that the granting of the
              sublicense would not materially increase the availability to the
              public of the subject matter of the Licensed Patent Rights. PHS
              will not require the granting of a sublicense unless the
              responsible applicant has first negotiated in good faith with
              Licensee.

       13.08  PHS reserves the right according to 35 U.S.C. Section 209(f)(4) to
              terminate or modify this Agreement if it is determined that such
              action is necessary to meet requirements for public use specified
              by Federal regulations issued after the date of the license and
              such requirements are not reasonably satisfied by Licensee.

       13.09  Within thirty (30) days of receipt of written notice of PHS's
              unilateral decision to modify or terminate this Agreement,
              Licensee may, consistent with the provisions of 37 CFR. Section
              404.11, appeal the decision by written submission to the Director
              of NIH or designee. The decision of the NIH Director or designee
              shall be the final agency decision. Licensee may thereafter
              exercise any and all administrative or judicial remedies that may
              be available.

       13.10  Within ninety (90) days of termination of this Agreement under
              this Article 13 or expiration under Paragraph 3.02, a final report
              shall be submitted by Licensee. Any royalty payments, including
              those related to patent expense, due to PHS shall become
              immediately due and payable upon termination or expiration. If
              terminated under this Article 13, sublicensees may elect to
              convert their sublicenses to direct licenses with PHS pursuant to
              Paragraph 4.03.

14.    GENERAL PROVISIONS

       14.01  Neither Party may waive or release any of its rights or interests
              in this Agreement except in writing. The failure of the Government
              to assert a right hereunder or to insist upon compliance with any
              term or condition of this Agreement shall not constitute a waiver
              of that

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 13 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

              right by the Government or excuse a similar subsequent failure to
              perform any such term or condition by Licensee.

       14.02  This Agreement constitutes the entire agreement between the
              Parties relating to the subject matter of the Licensed Patent
              Rights, and all prior negotiations, representations, agreements,
              and understandings are merged into, extinguished by, and
              completely expressed by this Agreement.

       14.03  The provisions of this Agreement are severable, and in the event
              that any provision of this Agreement shall be determined to be
              invalid or unenforceable under any controlling body of law, such
              determination shall not in any way affect the validity or
              enforceability of the remaining provisions of this Agreement.

       14.04  If either Party desires a modification to this Agreement, the
              Parties shall, upon reasonable notice of the proposed modification
              by the Party desiring the change, confer in good faith to
              determine the desirability of such modification. No modification
              will be effective until a written amendment is signed by the
              signatories to this Agreement or their designees.

       14.05  The construction, validity, performance, and effect of this
              Agreement shall be governed by Federal law as applied by the
              Federal courts in the District of Columbia.

       14.06  All notices required or permitted by this Agreement shall be given
              by prepaid, first class, registered or certified mail properly
              addressed to the other Party at the address designated on the
              following Signature Page, or to such other address as may be
              designated in writing by such other Party, and shall be effective
              as of the date of the postmark of such notice.

       14.07  This Agreement shall not be assigned by Licensee except a) with
              the prior written consent of PHS, such consent to be reasonably
              given; or b) as part of a sale or transfer of substantially the
              entire business of Licensee relating to operations which concern
              this Agreement. Licensee shall notify PHS within ten (10) days of
              any assignment of this Agreement by Licensee.

       14.08  Licensee agrees in its use of any PHS-supplied materials to comply
              with all applicable statutes, regulations, and guidelines,
              including Public Health Service and National Institutes of Health
              regulations and guidelines. Licensee agrees not to use the
              materials for research involving human subjects or clinical trials
              in the United States without complying with 21 CFR Part 50 and 45
              CFR Part 46. Licensee agrees not to use the materials for
              research involving human subjects or clinical trials outside of
              the United States without notifying PHS, in writing, of such
              research or trials and complying with the applicable regulations
              of the appropriate national control authorities. Written
              notification to PHS of research involving human subjects or
              clinical trials outside of the

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 14 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

              United States shall be given no later than sixty (60) days prior
              to commencement of such research or trials.

       14.09  Licensee acknowledges that it is subject to and agrees to abide by
              the United States laws and regulations (including the Export
              Administration Act of 1979 and Arms Export Control Act)
              controlling the export of technical data, computer software,
              laboratory prototypes, biological material, and other commodities.
              The transfer of such items may require a license from the
              cognizant agency of the U.S. Government or written assurances by
              Licensee that it shall not export such items to certain foreign
              countries without prior approval of such agency. PHS neither
              represents that a license is or is not required or that, if
              required, it shall be issued.

       14.10  Licensee agrees to mark the Licensed Products or their packaging
              sold in the United States with all applicable U.S. patent numbers
              and similarly to indicate "Patent Pending" status. All Licensed
              Products manufactured in, shipped to, or sold in other countries
              shall be marked in such a manner as to preserve PHS patent rights
              in such countries.

       14.11  By entering into this Agreement, PHS does not directly or
              indirectly endorse any product or service provided, or to be
              provided, by Licensee whether directly or indirectly related to
              this Agreement. Licensee shall not state or imply that this
              Agreement is an endorsement by the Government, PHS, any other
              Government organizational unit, or any Government employee.
              Additionally, Licensee shall not use the names of NIH, CDC, or PHS
              or their employees in any advertising, promotional, or sales
              literature without the prior written consent of PHS.

       14.12  The Parties agree to attempt to settle amicably any controversy or
              claim arising under this Agreement or a breach of this Agreement,
              except for appeals of modification or termination decisions
              provided for in Article 13. Licensee agrees first to appeal any
              such unsettled claims or controversies to the Director of NIH, or
              designee, whose decision shall be considered the final agency
              decision. Thereafter, Licensee may exercise any administrative or
              judicial remedies that may be available.

       14.13  Nothing relating to the grant of a license, nor the grant itself,
              shall be construed to confer upon any person any immunity from or
              defenses under the antitrust laws or from a charge of patent
              misuse, and the acquisition and use of rights pursuant to 37 CFR
              Part 404 shall not be immunized from the operation of state or
              Federal law by reason of the source of the grant.

       14.14  Paragraphs 4.03, 8.01, 9.06, 9.07, 12.01-12.05, 13.09, 13.10, and
              14.12 of this Agreement shall survive termination of this
              Agreement.

                          SIGNATURES BEGIN ON NEXT PAGE

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 15 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

                     PHS PATENT LICENSE AGREEMENT-EXCLUSIVE

                                 SIGNATURE PAGE

FOR PHS:

by: /s/ Barbara McGarey                                     5/18/95
   --------------------------------------------            ---------------
Barbara McGarey, J.D.                                      Date
Deputy Director, Office of Technology Transfer
National Institutes of Health

Mailing Address for Notices:

Office of Technology Transfer
National Institutes of Health
6011 Executive Boulevard, Suite 325
Rockville, Maryland 20852
Fax: (301) 402-0220

FOR Licensee:

by: /s/ Michael T. Flavin                                   5/8/95
   --------------------------------------------            ---------------
Michael T. Flavin, Ph.D.                                   Date
President
MediChem Research,  Inc.

Mailing Address for Notices:

MediChem Research, Inc.
12305 South New Avenue
Lemont, Illinois 60439
Fax: (708) 257-1505

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 16 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

                   APPENDIX A -- PATENT OR PATENT APPLICATION

Patent or Patent Application:

       USPA SN 07/861,249 "Calanolides, Novel Antiviral Compounds, Compositions
       and Uses Thereof"

       USPA SN 08/065,618 (CIP of SN 07/861,249) "Calanolides, Novel Antiviral
       Compounds, Compositions and Uses Thereof"

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 17 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

               APPENDIX B -- LICENSED FIELDS OF USE AND TERRITORY

Licensed Territory: World-wide, including all countries, states, provinces and
territories.

Licensed Fields of Use: Treatment of viral infection, viral-related infection or
viral-related disease in humans.

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 18 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

                             APPENDIX C -- ROYALTIES

Royalties:

Licensee agrees to pay to PHS a noncreditable, nonrefundable license issue
royalty in the amount of FIFTY THOUSAND DOLLARS ($50,000.00) according to the
following payment schedule:

       A. FIFTEEN THOUSAND DOLLARS ($15,000.00) within thirty (30) days from the
       Effective Date; and

       B. THIRTY-FIVE THOUSAND DOLLARS ($35,000.00) within one (1) year from the
       Effective Date less a credit of up to Twenty-Five Thousand Dollars
       ($25,000.00) for license issue royalties paid by Licensee to government
       of Sarawak for the manufacture and sale of Licensed Products.

Licensee agrees to pay to PHS a nonrefundable minimum annual royalty according
to the following schedule:

       A. FIVE THOUSAND DOLLARS ($5,000.00) beginning in 1996 less an annual
       credit of up to Two Thousand Five Hundred Dollars ($2,500.00) for minimum
       annual royalties paid by Licensee to government of Sarawak for the
       manufacture and sale of Licensed Products; and

       B. TEN THOUSAND DOLLARS ($10,000.00) for 1998 and subsequent years less
       an annual credit of up to Five Thousand Dollars ($5,000.00) for minimum
       annual royalties paid by Licensee to government of Sarawak for the
       manufacture and sale of Licensed Products.

Licensee agrees to pay PHS earned royalties on Net Sales as follows:

       A. FOUR PERCENT (4.0%) of Net Sales by Licensee or an Affiliate of
       Licensee of all Licensed Products manufactured or sold in the Licensed
       Territory; and;

       B. Licensee shall be entitled to a One Hundred percent (100%) credit
       against PHS earned royalty payments for earned royalty payments Licensee
       must pay to the government of Sarawak for the manufacture and sale of
       Licensed Products. Said reduction, however, shall not reduce the earned
       royalty payments to PHS below half of the rate provided for under
       Paragraph A above.

Licensee agrees to pay PHS Sublicensing Royalties as follows:

       A. FOUR PERCENT (4.0%) of Net Sales by Sublicensee, or an Affiliate of
       Sublicensee of all Licensed Products manufactured and sold in the
       Licensed Territory plus Twenty per cent (20%) of the value of any
       consideration received in granting the sublicense.

       B. Licensee shall be entitled to a One Hundred percent (100%) credit
       against PHS Sublicensing Royalties for sublicensing royalty payments

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 19 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

       Licensee must pay to the government of Sarawak. Said reduction, however,
       shall not reduce the sublicensing royalty payments to PHS below half of
       the rates' provided for under Paragraph A above.

Licensee agrees to pay PHS benchmark royalties as follows:

       A. TWENTY-FIVE THOUSAND DOLLARS ($25,000.00) upon filing of an IND
       application in the United States; and

       B. FIFTY THOUSAND DOLLARS ($50,000.00) upon completion of Phase I and
       initiation of Phase II clinical trials; and

       C. ONE HUNDRED THOUSAND DOLLARS ($100,000.00) upon completion of Phase II
       and initiation of Phase III clinical trials; and

       D. TWO HUNDRED THOUSAND DOLLARS ($200,000.00) upon filing of a NDA
       application or equivalent in the United States, Europe or Japan; and

       E. Licensee shall be entitled to a One Hundred percent (100%) credit
       against PHS benchmark royalties for benchmark royalty payments Licensee
       must pay to the government of Sarawak. Said reduction, however, shall not
       reduce the benchmark royalty payments to PHS below half of the rates
       individually provided for under Paragraphs A through D above. One hundred
       percent (100%) of such benchmark royalty payments actually made to PHS
       may be credited against royalties due under Paragraph 6.03; however, the
       net royalty payment in any calendar year may not be lower than the
       minimum annual royalty specified in Appendix C although uncredited
       benchmark royalty payments may be carried forward into subsequent years.

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 20 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

                           APPENDIX D -- MODIFICATIONS

PHS and Licensee agree to the following modifications to the Articles and
Paragraphs of this Agreement:

Article Two

       2.09 (new) "Effective Date" shall mean the date when the last party to
sign has executed this Agreement.

Article Five

       5.03 (revised) Licensee acknowledges that PHS may enter into future
Cooperative Research and Development Agreements (CRADAs) under the Federal
Technology Transfer Act of 1986 that relate to the subject matter of this
Agreement. Licensee agrees not to unreasonably deny requests for sublicense or
cross-license rights from such future collaborators with PHS when acquiring such
derivative rights is necessary in order to make a CRADA project feasible.
Licensee may request an opportunity to join as a party to the proposed CRADA,
such request not to be unreasonably denied by PHS.

       5.04 (revised) DHHS has responsibility for funding basic biomedical
research, for funding medical treatment through programs such as Medicare and
Medicaid, for providing direct medical care and, more generally, for protecting
the health and safety of the public. Because of these responsibilities, and the
public investment in the research that culminated in the Licensed Patent Rights,
Licensee agrees, upon regulatory approval for marketing, to set up a special
patient access program in the United States so that Licensed Products may be
provided to individuals who are unable to afford them.

       5.05 (revised) In addition to the reserved license of Paragraph 5.01
above, PHS reserves the right to grant nonexclusive licenses to make and to use,
but not to sell or have sold, the inventions defined by the Licensed Patent
Rights for purposes of research involving the inventions themselves, and not for
purposes of commercial manufacture or in lieu of purchase if the inventions are
available as commercial products for research purposes. The purpose of this
research license is to encourage basic research, whether conducted at an
academic or corporate facility. In order to safeguard the Licensed Patent
Rights, however, PHS shall consult with Licensee before granting to commercial
entities a research license or providing to them research samples of the
materials claimed in the Licensed Patent Rights. In the event that Licensee can
provide convincing written evidence to PHS that a commercial entity that has
been granted a research license to Licensed Patent Rights is developing the
inventions for commercial manufacture or in lieu of purchase if the inventions
are available as commercial products, then Licensee can request that PHS
terminate its research license with such commercial entities, such request not
to be unreasonably denied.

Article Six

       6.01 (revised) Licensee agrees to pay to PHS a noncreditable,
nonrefundable license issue royalty as set forth in Appendix C within thirty
(30) days from the Effective Date of this Agreement.

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 21 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

       6.02 (revised) Licensee agrees to pay to PHS a nonrefundable minimum
annual royalty as set forth in Appendix C. The minimum annual royalty is due and
payable on January 1 of each calendar year and may be credited against any
earned royalties due for sales made in that year.

       6.08 (revised) As an additional royalty, Licensee agrees to pay PHS upon
submission of a statement and request for payment, an amount equivalent to all
reasonable expenses previously incurred by PHS in the preparation, filing,
prosecution, and maintenance of Licensed Patent Rights according to the
following schedule: one-third within sixty (60) days; one-third within one (1)
year of the Effective Date of this Agreement; and one-third within two (2) years
of the Effective Date of this Agreement. Licensee further agrees to pay PHS
annually, within sixty (60) days of PHS's submission of a statement and request
for payment, a royalty amount equivalent to all such future patent expenses
incurred during the previous calendar year, as of the date the statement and
request for payment is sent by PHS to Licensee. Licensee may elect to surrender
its rights in any country of the Licensed Territory under any Licensed Patent
Rights upon sixty (60) days' written notice to PHS and owe no payment obligation
under this paragraph for subsequent patent-related expenses incurred in that
country.

Article Seven

       7.01 (revised) Upon Effective Date of this Agreement, Licensee agrees to
take the responsibility for, as well as pay for, but to consult with PHS in, the
preparation, filing, prosecution, and maintenance of any and all patent
applications or patents included in the Licensed Patent Rights and shall furnish
copies of relevant patent-related documents to PHS, who shall retain its
principle power of attorney. Licensee may elect to surrender its rights in any
country of the Licensed Territory under any Licensed Patent Rights upon sixty
(60) days' written notice to PHS and owe no payment obligation under this
paragraph for subsequent patent-related expenses incurred in that country.

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 22 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

                            APPENDIX E -- BENCHMARKS

Licensee agrees to the following Benchmarks for its performance under this
Agreement and, within ten (10) days of achieving a Benchmark, shall notify PHS
that the Benchmark has been achieved:

A.   DEVELOPMENT OF CALANOLIDE AS A THERAPEUTIC FOR TREATMENT OF HIV INFECTION

       1.  Begin negotiations for an agreement with Sarawak as to the extent of
       return to Sarawak from eventual marketing of synthetic licensed product
       within one (1) month of the Effective Date of the Agreement. Complete
       agreement with Sarawak within nine (9) months of the Effective Date of
       the Agreement.

       2.  Develop and validate a plasma assay (using mouse, rat and dog plasma)
       for (+)Calanolide A. Compare behavior of (-)Dihydrocalanolide B (to be
       supplied by the National Cancer Institute (NCI)) in same. To be completed
       by February 28, 1996.

       3.  Determine pharmacology of (+)Calanolide A in the mouse, rate and dog
       following single dose IV administration. Provide results in the mouse to
       NCI to allow scheduling of efficacy and combination studies in hollow
       fiber and PBL-SCID models. To be completed by March 31, 1996.

       4.  Develop and validate with respect to shelf stability of product a
       formulation of (+)Calanolide suitable for use in further toxicologic and
       eventual clinical evaluation. To be completed by March 31, 1996.

       5.  Using the results in (3) to select dose and schedule, conduct initial
       dose-ranging studies in the rate and the dog with a frequency of
       administration IV that would support a two-week duration clinical trial.
       To be completed by June 30, 1996.

       6.  Formulate a quantity of GMP-prepared Calanolide A sufficient to
       complete IND-directed toxicology studies and two Phase I studies. To be
       completed by June 30, 1996.

       7.  Conduct IND-directed toxicology studies in the rat and the dog
       according to protocols reviewed by NCI's Toxicology and Pharmacology
       Branch to support a two-week IV infusion study. To be completed by
       September 30, 1996.

       8.  Complete reports and quality control to support IND-filing. To be
       completed by November 30, 1996.

       9.  File IND. To be completed by December 31, 1996.

       10. Commence two-week infusion Phase I clinical trial. To be completed by
       March 31, 1997.

       11. Commence Phase II clinical trials by July 31, 1997.

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 23 - FINAL - MediChem Research, Inc. - May 5, 1995

<Page>

       12. Commence Phase III clinical trials (if necessary) by September 30,
       1998.

       13. Submit NDA by December 31, 1999.

B.   DEVELOPMENT OF CALANOLIDE A AS A THERAPEUTIC FOR TREATMENT OF NON-HIV
VIRAL INFECTIONS

       1.  Begin assessment of activity of Calanolide A in primary screens
       against a panel of non-HIV viral strains which include but are not
       limited to: Herpes Simplex Virus-2, Herpes Simplex Virus-2, Cytomegalo
       Virus, Variella Zoster Virus, Epstein-Barr Virus, Adenovirus Type 5,
       Parainfluenza Type 3 Virus, Respiratory Syncytial Virus, Hepatitis B
       Virus, Measles Virus, Influenza A (H1N1), Influenza A (H3N2) by December
       31, 1995.

       2.  Conclude analysis of activity of Calanolide A in primary screens
       against non-HIV viral strains by March 31, 1996.

       3.  Election of non-HIV anti-viral therapeutic areas demonstrating
       potential for development and submission of development plan for those
       indications by June 30, 1996.

C.   DEVELOPMENT OF CALANOLIDE-RELATED COMPOUNDS, INCLUDING COSTATOLIDE, AS
THERAPEUTICS FOR TREATMENT OF VIRAL INFECTIONS

       1.  Synthesize and submit to NCI for further testing at least one backup
       compound to Calanolide A per calendar year from 1995 through 1997.

       2.  Election of Calanolide-related compounds demonstrating potential for
       development and submission of development plan for those compounds by
       December 31, 1997.

NIH Office of Technology Transfer
PHS PATENT LICENSE AGREEMENT - EXCLUSIVE
MODEL 940110 - Page 24 - FINAL - MediChem Research Inc. - May 5, 1995

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00083-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00083-of-00352.parquet"}]]