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                                                                     EXHIBIT 4.2

                          CERTIFICATE OF DETERMINATION
               OF RIGHTS, PREFERENCES, PRIVILEGES AND RESTRICTIONS
                         OF SERIES B PREFERRED STOCK OF
                           NEOGENE TECHNOLOGIES, INC.
                            a California corporation

        Alvin J. Glasky and Samuel Gulko hereby certify as follows:

        1. We are the President and Secretary, respectively of NeoGene
Technologies, Inc., a California corporation (the "Corporation").

        2. The number of shares of the Corporation's Series B Preferred Stock is
150,000 shares, none of which has been issued.

        3. Pursuant to authority given under the Articles of Incorporation of
the Corporation, and in accordance with the provisions of Section 401 of the
California Corporations Code, the Board of Directors of the Corporation (the
"Board") has duly adopted the following recitals and resolutions which hereby
create this Certificate of Determination of Rights, Preferences, Privileges and
Restrictions of Series B Preferred Stock of the Corporation (this "Certificate
of Determination"):

        WHEREAS, Article Five of the Amended and Restated Articles of
Incorporation of the Corporation authorizes 5,000,000 shares of Preferred Stock
(the "Preferred Stock") of which 150,000 shares have been designated as Series A
Preferred Stock (the "Series A Preferred Stock");

        WHEREAS, in accordance with the provisions of Section 401 of the
California Corporations Code, and pursuant to the Articles of Incorporation, the
Board of Directors is authorized and empowered to designate the rights,
preferences, privileges and restrictions of such Preferred Stock; and

        WHEREAS, the second series of Preferred Stock has been designated the
"Series B Preferred Stock."

        NOW THEREFORE BE IT RESOLVED, that Series B of the class of authorized
Preferred Stock of the Corporation is hereby created, and that the designation
and amount thereof and the voting powers, preferences and relative,
participating, optional and other special rights of the shares of such Series,
and the qualifications, limitations or restrictions thereof are as follows:

I. DESIGNATION AND AMOUNT.

        A. SERIES B PREFERRED STOCK. The shares of the second series of
Preferred Stock of the Corporation is hereby designated "Series B Preferred
Stock" and the number of shares constituting such series is 150,000.

        B. RIGHTS PREFERENCES AND PRIVILEGES. The relative rights, preferences,
restrictions, and other matters relating to the Series B Preferred Stock or the
holders thereof are as follows:

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                1. Dividends Rights of Preferred. The holders of Series B
Preferred Stock shall be entitled to receive, when and as declared by the Board
out of funds legally available therefor, cumulative dividends at the rate per
share of Series B Preferred Stock of $3.15 per annum (as adjusted for any stock
split, combination, consolidation or stock distributions or stock dividends with
respect to such shares), payable, subject to the provisions of this Section 1,
semiannually on August 31 and February 28 of each year (each, a "Dividend
Payment Date"). Such dividend shall accrue on each Dividend Payment Date, and
shall be paid to the holders of record of the Series B Preferred Stock on the
record date set for such dividend payment, or, if no such record date is set, to
the holders of record of the Series B Preferred Stock on the date such payment
is made. The Corporation, at its option, may make dividend payments in cash,
shares of Series B Preferred Stock, or both. The number of shares of Series B
Preferred Stock deliverable with respect to any such dividend shall equal the
quotient obtained by dividing the amount of such dividend payable in shares of
Series B Preferred Stock by the then applicable liquidation preference for one
share of Series B Preferred Stock, as set forth in Section 2(a) below, provided
that the Corporation shall be entitled to pay cash in lieu of delivering any
fractional shares hereunder. Such dividend shall be paid to the holders of the
Series B Preferred on a pari passu basis with any dividend required to be paid
to the holders of the Series A Preferred Stock. Unless all accrued but unpaid
dividends on the Series B Preferred shall have been paid or declared and a sum
sufficient for the payment thereof set apart, (i) no dividend shall be paid or
declared on any shares of the Corporation's common stock, no par value (the
"Common Stock"), and (ii) no shares of Common Stock shall be purchased, redeemed
or acquired by the Corporation and no monies shall be paid into or set aside or
made available for a sinking fund for the purchase, redemption or acquisition
thereof. Notwithstanding the foregoing, the Corporation shall not be prohibited
from repurchasing shares of Common Stock from the directors, officers or
employees of the Corporation or any Subsidiary pursuant to agreements under
which the Corporation has the option to repurchase such shares upon the
termination of employment or consulting relationship, where such repurchase has
been duly authorized by the Board.

                2. Liquidation.

                        (a) Preference. In the event of any liquidation,
dissolution or winding up of the Corporation, either voluntary or involuntary,
subject to the rights of any other series of Preferred Stock that may from time
to time come into existence, the holders of the Series B Preferred Stock shall
be entitled to receive, prior and in preference to any distribution of any of
the assets of the Corporation to the holders of any equity securities of the
Corporation (other than the Series A Preferred Stock, which shall rank pari
passu with the Series B Preferred Stock with respect to any such distribution)
by reason of their ownership thereof, an amount equal to $45.00 (as adjusted for
any stock split, combination, consolidation or stock distributions or stock
dividends with respect to such shares) for each share of Series B Preferred
Stock then held by them. If, upon the occurrence of such event, the assets and
funds thus distributed among the holders of the Series B Preferred Stock shall
be insufficient to permit the payment to such holders of the full aforesaid
preferential amounts, then, subject to the rights of any other series of
Preferred Stock that may from time to time come into existence, the entire
assets and funds of the Corporation legally available for distribution shall be
distributed among the holders of the Series A Preferred Stock and the Series B
Preferred Stock on a pari passu basis in proportion to the relationship that the
number of shares of Series A Preferred Stock or Series B Preferred Stock held by
each such holder bears to the total number of shares of Series A Preferred Stock
and the Series B Preferred Stock outstanding.

                        (b) Remaining Assets. Upon the completion of the
distribution required by Section 2(a) above and any other distribution that may
be required with respect to any other series of Preferred Stock that may from
time to time come into existence, the remaining assets of the

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Corporation available for distribution to stockholders shall be distributed
among the holders of the Common Stock pro rata based on the number of shares of
Common Stock held by each.

                3. Voting Rights. Except as otherwise provided by the California
General Corporation Law ("California Law"), the holders of the Series B
Preferred Stock shall have no voting power whatsoever, and no holder of Series B
Preferred Stock shall vote or otherwise participate in any proceeding in which
actions shall be taken by the Corporation or the shareholders thereof or be
entitled to notification as to any meeting of the shareholders.

                To the extent that under California Law the vote of the holders
of the Series B Preferred Stock, voting separately as a class, is required to
authorize a given action of the Corporation, the affirmative vote or consent of
the holders of at least a majority of the outstanding shares of the Series B
Preferred Stock at a duly held meeting at which a quorum is present or by
written consent of a majority of the shares of Series B Preferred Stock (except
as otherwise maybe required under California Law) shall constitute the approval
of such action by the class. To the extent that under California Law the holders
of the Series B Preferred Stock are entitled to vote on a matter with holders of
Series A Preferred Stock, voting together as one class, each share of Series A
Preferred Stock and Series B Preferred Stock shall be entitled to one vote for
each share of Common Stock into which such share could be converted as of the
record date for the taking of such vote of shareholders. To the extent that
under California Law the holders of the Series B Preferred Stock are entitled to
vote on a matter with holders of Common Stock, voting together as one class,
each share of Series B Preferred Stock shall be entitled to one vote for each
share of Common Stock into which such share of Series B Preferred Stock could be
converted as of the record date for the taking of such vote of shareholders.
Holders of the Series B Preferred Stock shall be entitled to notice of all
shareholder meetings or written consents with respect to which they would be
entitled to vote, which notice would be provided pursuant to the Corporation's
Bylaws and applicable statutes.

                4. Conversion Rights. The holders of Series B Preferred Stock
shall have conversion rights as follows (the "Conversion Rights"):

                        (a) Conversion at Option of Holder. Subject to Section
4(d), each share of Series B Preferred Stock shall be convertible, at the option
of the holder thereof, at any time after the date of issuance of such share, at
the principal office of the Corporation or any transfer agent for such stock,
into such number of fully paid and nonassessable shares of Common Stock as is
determined by dividing $45.00 by the Conversion Price applicable to such share,
determined as hereafter provided, in effect on the date the certificate is
surrendered for conversion. The initial Conversion Price per share of Series B
Preferred Stock shall be $45.00. Such initial Conversion Price shall be subject
to adjustment as set forth in Section 5.

                        (b) Conversion at Option of Corporation. [Intentionally
deleted.]

                        (c) Automatic Conversion. Each share of Series B
Preferred Stock then outstanding (and not otherwise subject to a conversion
exercise by a holder thereof pursuant to Section 4(a)) shall automatically be
converted into shares of Common Stock at the Conversion Price at the time in
effect for such share immediately upon the earlier to occur of (i) the closing
of the Corporation's sale of its Common Stock in a firm commitment underwritten
public offering pursuant to a registration statement under the Securities Act of
1933, as amended (the "Securities Act"), which results in aggregate gross cash
proceeds to the Corporation of $25,000,000, based on a pre-money valuation of
the Corporation of at least $80,000,000 and (ii) the fifth anniversary of the
date of issuance of such share.

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                        (d) Mechanics of Conversion. Before any holder of Series
B Preferred Stock shall be entitled to convert the same into shares of Common
Stock pursuant to Section 4(a) above, such holder shall surrender the
certificate or certificates therefor, duly endorsed in blank or accompanied by
appropriate instruments of transfer, at the principal office of the Corporation
or of any transfer agent for Series B Preferred Stock, and shall give written
notice to the Corporation of the election to convert the same and shall state
therein the name or names in which the certificate or certificates for shares of
Common Stock are to be issued. The Corporation shall, no later than three (3)
Business Days following delivery of the Conversion notice, issue and deliver at
such office to such holder of Series B Preferred Stock, or to the nominee or
nominees of such holder, a certificate or certificates for the number of shares
of Common Stock to which such holder shall be entitled as aforesaid.
Notwithstanding the foregoing, subject to applicable law, in the event a holder
of shares of Common Stock acquired upon conversion of Series B Preferred Stock
may resell such shares without restriction pursuant to an effective registration
statement or otherwise, the Corporation shall cause the transfer agent with
respect to its Common Stock, if such transfer agent is then participating in the
Depositary Trust Company ("DTC") Fast Automated Securities Transfer ("FAST")
program, to electronically transmit the shares of Common Stock issuable upon
such conversion by crediting the account of such holder's prime broker with DTC
through DTC's Deposit Withdrawal Agent Commission ("DWAC") system, within (3)
Business Days after such conversion. Such conversion shall be deemed to have
been made immediately prior to the close of business on the date of such
surrender of the shares of Series B Preferred Stock to be converted, and the
person or persons entitled to receive the shares of Common Stock issuable upon
such conversion shall be treated for all purposes as the record holder or
holders of such shares of Common Stock as of such date. If the conversion is in
connection with an underwritten offering of securities registered pursuant to
the Securities Act the conversion may, at the option of the Corporation, be
conditioned upon the closing with the underwriters of the sale of securities
pursuant to such offering, in which event the person(s) entitled to receive
Common Stock upon conversion of the Series B Preferred Stock shall not be deemed
to have converted such Series B Preferred Stock until immediately prior to the
closing of such sale of securities. Notwithstanding the foregoing, in the event
of an automatic conversion of the Series B Preferred Stock pursuant to Section
4(c) above, from and after the effective time of such conversion, the
outstanding certificates representing shares of Series B Preferred Stock shall
thereafter represent the right to receive a certificate or certificates (or a
credit through DWAC, if applicable) for the number of shares of Common Stock
into which such shares of Series B Preferred Stock have been converted, and the
holders of the Series B Common Stock as of the date of such conversion shall be
treated for all purposes as the record holders of the shares of Common Stock
issuable upon such conversion as of such date.

                        (e) No Fractional Shares. No fractional shares of Common
Stock shall be issued upon the conversion of any share or shares of the Series B
Preferred Stock, and all such fractional shares shall be disregarded. In lieu
thereof, the Corporation shall pay in cash the fair market value of such
fractional share as determined by the Board of Directors of the Corporation. The
number of shares issuable upon such conversion shall be determined on the basis
of the total number of shares of Series B Preferred Stock the holder is at that
time converting into Common Stock and the number of shares of Common Stock
issuable upon such aggregate conversion.

                        (f) Other Distributions. In the event the Corporation at
any time or from time to time makes any distribution payable in securities or
other property of the Corporation (other than Common Stock or Common Stock
Equivalents (as defined in Section 5(a)(1) below)), securities of other persons,
evidences of indebtedness issued by the Corporation or other persons or assets,
then and in each such event provision shall be made so that the holders of
Series B Preferred Stock shall receive upon conversion thereof the amount of
securities and other property of the Corporation

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which they would have received had their shares of Series B Preferred Stock been
converted into shares of Common Stock on the date of such event and had they
thereafter, during the period from the date of such event to and including the
date of conversion, retained such securities and other property receivable by
them as aforesaid during such period, subject to all other adjustments called
for during such period under Section 5 with respect to the rights of the holders
of Series B Preferred Stock.

                        (g) No Reissuance. Upon any conversion of Series B
Preferred Stock pursuant to this Section 4, the shares of Series B Preferred
Stock which are converted shall not be reissued. Upon conversion of all of the
then outstanding Series B Preferred Stock, shares of Series B Preferred Stock
shall not be deemed outstanding for any purpose whatsoever.

                        (h) Reservation of Common Stock. The Corporation shall
at all times reserve and keep available, out of its authorized but unissued
Common Stock, solely for the purpose of effecting the conversion of the Series B
Preferred Stock, the full number of shares of Common Stock deliverable upon the
conversion of all Series B Preferred Stock from time to time outstanding. The
Corporation shall from time to time (subject to obtaining necessary director and
shareholder action), in accordance with the laws of the State of California,
increase the authorized amount of its Common Stock if at any time the authorized
number of shares of Common Stock remaining unissued shall not be sufficient to
permit the conversion of all of the shares of Preferred Stock at the time
outstanding.

                5. Adjustments to Conversion Price.

                        (a) Conversion Price Adjustments for Certain Events. The
Conversion Price of the Series B Preferred Stock shall be subject to adjustment
from time to time as follows:

                                (1) In the event the Corporation should at any
time or from time to time after the date upon which any shares of Series B
Preferred Stock were first issued (the "Purchase Date") fix a record date for
the effectuation of a split or subdivision of the outstanding shares of Common
Stock or the determination of holders of Common Stock entitled to receive a
dividend or other distribution payable in additional shares of Common Stock or
other securities or rights convertible into, or entitling the holder thereof to
receive directly or indirectly, additional shares of Common Stock (hereinafter
referred to as "Common Stock Equivalents") without payment of any consideration
by such holder for the additional shares of Common Stock or the Common Stock
Equivalents (including the additional shares of Common Stock issuable upon
conversion or exercise thereof), then, as of such record date (or the date of
such dividend distribution, split or subdivision if no record date is fixed),
the Conversion Price of the Series B Preferred Stock shall be appropriately
decreased so that the number of shares of Common Stock issuable on conversion of
each share of Series B Preferred Stock shall be increased in proportion to such
increase in the aggregate number of shares of Common Stock outstanding taking
into account those shares of Common Stock issuable with respect to any such
Common Stock Equivalents, with the number of shares issuable with respect to
Common Stock Equivalents determined from time to time as provided in Section
5(c)(3).

                                (2) If the number of shares of Common Stock
outstanding at any time after the Purchase Date is decreased by a combination of
the outstanding shares of Common Stock, then, following the record date of such
combination, the Conversion Price for the Series B Preferred Stock shall be
appropriately increased so that the number of shares of Common Stock issuable on
conversion of each share of Series B Preferred Stock shall be decreased in
proportion to such decrease in the aggregate number of shares of Common Stock
outstanding.

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                        (b) Recapitalization, Merger, Etc. If at any time or
from time to time there shall be a recapitalization, reclassification,
combination, subdivision, merger, transfer, exchange, sale or other disposition
of all or substantially all of the Corporation's assets, stock split, stock
dividend, reverse stock split or other distribution in respect of the Common
Stock (other than as provided for elsewhere in this Section 5 or in Section 2 or
Section 4), provision shall be made so that the holders of the Series B
Preferred Stock shall thereafter be entitled to receive upon conversion of the
Series B Preferred Stock, the number of shares of stock or other securities or
property of the Corporation or otherwise, to which a holder of Common Stock
deliverable upon conversion would have been entitled on such recapitalization.
In any such case, appropriate adjustment shall be made in the application of the
provisions of this Section 5 with respect to the rights of the holders of the
Series B Preferred Stock after the recapitalization to the end that the
provisions of this Section 5 (including adjustment of the Conversion Prices then
in effect and the number of shares purchasable upon conversion of the Series B
Preferred Stock) shall be applicable after that event and be as nearly
equivalent as practicable.

                        (c) Issuance of Additional Stock below Conversion Price.
If the Corporation shall issue, after the Purchase Date, any Additional Stock
(as defined below) for a consideration per share less than the Conversion Price
in effect immediately prior to the issuance of such Additional Stock, the
Conversion Price in effect immediately prior to each such issuance shall
automatically be adjusted to equal the consideration per share paid for such
Additional Stock determined in accordance with Section 5(c)(2), unless otherwise
provided in this Section 5(c); provided, however, that if no shares of Series A
Preferred Stock (or any other securities of the Corporation which are
convertible into shares of Common Stock providing for a similar adjustment as a
result of such issuance) are outstanding on the date of such issuance of
Additional Stock, (x) if such date is prior to or is the third anniversary of
the Purchase Date, the Conversion Price to be in effect after the date of such
issuance shall be adjusted by multiplying the Conversion Price in effect
immediately prior to the date of such issuance by a fraction, of which the
numerator shall be the number of shares of Common Stock outstanding on the date
of such issuance plus the number of shares of Common Stock which the aggregate
consideration for the total number of shares of Additional Stock so to be issued
(or the aggregate initial conversion price of the convertible securities so to
be issued) would purchase at the Conversion Price in effect immediately prior to
the date of such issuance and of which the denominator shall be the number of
shares of Common Stock outstanding on the date of such issuance plus the number
of additional shares of Additional Stock to be issued (or into which the
convertible securities so to be issued are initially convertible), unless
otherwise provided in this Section 5(c), and (y) if such date is after the third
anniversary of the Purchase Date, the Conversion Price shall not be adjusted
pursuant to this Section 5(c).

                                (1) Additional Stock. For purposes of this
Section 5, "Additional Stock" shall mean any shares of Common Stock or capital
stock, securities, options, warrants to purchase or other instruments of similar
effect convertible into or exchangeable for Common Stock issued (or deemed to
have been issued pursuant to Section 5(c)(3)) by the Corporation after the
Purchase Date other than:

                                        (A) Common Stock issued pursuant to a
transaction described in Section 5(b) hereof,

                                        (B) Common Stock (or securities options,
warrants or other rights convertible into or exchangeable shares of Common
Stock) issuable or issued to employees, consultants or directors of the
Corporation pursuant to a stock option plan, agreement or

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arrangement or restricted stock plan, agreement or arrangement approved by the
Board of Directors of the Corporation,

                                        (C) Capital stock, or options or
warrants to purchase capital stock, issued to financial institutions, placement
agents or lessors in connection with commercial credit arrangements, capital
financings, equipment financings or similar transactions,

                                        (D) Shares of Common Stock or Preferred
Stock issuable upon exercise of warrants outstanding as of the date of this
Certificate of Determination,

                                        (E) Capital stock or warrants or options
to purchase capital stock issued in connection with bona fide acquisitions,
mergers, strategic relationships or similar transactions, the terms of which are
approved by the Board of Directors of the Corporation, and

                                        (F) Shares of Common Stock issued or
issuable upon conversion of the Series A Preferred Stock or the Series B
Preferred Stock.

                                (2) Determination of Consideration. In the case
of the issuance of Common Stock for cash, the consideration shall be deemed to
be the amount of cash paid therefor before deducting any reasonable discounts,
commissions or other expenses allowed, paid or incurred by the Corporation for
any underwriting or otherwise in connection with the issuance and sale thereof.
In the case of the issuance of Common Stock for a consideration in whole or in
part other than cash, the consideration other than cash shall be deemed to be
the fair market value thereof as determined by the Board of Directors.

                                (3) Deemed Issuances of Common Stock. In the
case of the issuance (whether before, on or after the Purchase Date) of options
to purchase or rights to subscribe for Common Stock, securities by their terms
convertible into or exchangeable for Common Stock or options to purchase or
rights to subscribe for such convertible or exchangeable securities, the
following provisions shall apply for all purposes of this Section 5(c):

                                        (A) The aggregate maximum number of
shares of Common Stock deliverable upon exercise (assuming the satisfaction of
any conditions to exercisability, including without limitation, the passage of
time, but without taking into account potential antidilution adjustments) of
such options to purchase or rights to subscribe for Common Stock shall be deemed
to have been issued at the time such options or rights were issued and for a
consideration equal to the consideration (determined in the manner provided in
Section 5(c)(2)), if any, received by the Corporation upon the issuance of such
options or rights plus the minimum exercise price provided in such options or
rights (without taking into account potential antidilution adjustments) for the
Common Stock covered thereby.

                                        (B) The aggregate maximum number of
shares of Common Stock deliverable upon conversion of or in exchange (assuming
the satisfaction of any conditions to convertibility or exchangeability,
including, without limitation, the passage of time, but without taking into
account potential antidilution adjustments) for any such convertible or
exchangeable securities or upon the exercise of options to purchase or rights to
subscribe for such convertible or exchangeable securities and subsequent
conversion or exchange thereof shall be deemed to have been issued at the time
such securities were issued or such options or rights were issued and for a
consideration equal to the consideration, if any, received by the Corporation
for any such securities and related options or rights (excluding any cash
received on account of accrued interest or accrued dividends), plus the minimum
additional consideration, if any, to be received by the Corporation

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(without taking into account potential antidilution adjustments) upon the
conversion or exchange of such securities or the exercise of any related options
or rights (the consideration in each case to be determined in the manner
provided in Section 5(c)(2)).

                                        (C) In the event of any change in the
number of shares of Common Stock deliverable or in the consideration payable to
the Corporation upon exercise of such options or rights or upon conversion of or
in exchange for such convertible or exchangeable securities, including, but not
limited to, a change resulting from the antidilution provisions thereof, the
Conversion Price of the Series B Preferred Stock, to the extent in any way
affected by or computed using such options, rights or securities, shall be
recomputed to reflect such change, but no further adjustment shall be made for
the actual issuance of Common Stock or any payment of such consideration upon
the exercise of any such options or rights or the conversion or exchange of such
securities.

                                        (D) Upon the expiration of any such
options or rights, the termination of any such rights to convert or exchange or
the expiration of any options or rights related to such convertible or
exchangeable securities, the Conversion Price of the Series B Preferred Stock,
to the extent in any way affected by or computed using such options, rights or
securities or options or rights related to such securities, shall be recomputed,
but only to the extent the Corporation did not pay any consideration in
connection with such expiration or termination, to reflect the issuance of only
the number of shares of Common Stock (and convertible or exchangeable securities
which remain in effect) actually issued upon the exercise of such options or
rights, upon the conversion or exchange of such securities or upon the exercise
of the options or rights related to such securities.

                                        (E) The number of shares of Common Stock
deemed issued and the consideration deemed paid therefor pursuant to Sections
5(c)(3)(A) and 5(c)(3)(B) shall be appropriately adjusted to reflect any change,
termination or expiration of the type described in either Section 5(c)(3)(C) or
5(c)(3)(D).

                                (4) Circumstances in Which Conversion Price Not
Adjusted. Notwithstanding any other provisions of this Section 5(c), except to
the limited extent provided for in Sections 5(c)(3)(C) and 5(c)(3)(D), no
adjustment of the Conversion Price pursuant to this Section 5(c) shall have the
effect of increasing the Conversion Price above (i) the Conversion Price in
effect immediately prior to such adjustment or (ii) the initial Conversion Price
specified in Section 4(a). No readjustment pursuant to Sections 5(c)(3)(C) and
5(c)(3)(D) above shall have the effect of increasing the Conversion Price to an
amount which exceeds the lower of (x) the Conversion Price on the original
adjustment date and (y) the Conversion Price that would have resulted from the
issuance of Additional Stock between the original adjustment date and such
readjustment date.

                        (d) Conversion Price Adjustments for Certain
Distributions. If the Corporation shall distribute, during the period commencing
on the Purchase Date and ending on the second anniversary of the Purchase Date
(provided that, for any distributions occurring subsequent to the second
anniversary of the Purchase Date, the holders of record of the Series B
Preferred Stock shall have received notice of such distribution at least 15 days
prior to the record date established for holders of Common Stock to receive such
distribution), to all holders of Common Stock evidences of its indebtedness or
assets (excluding cash dividends with respect to the Corporation's Common Stock
to the extent such dividend payments (such payments deemed made on the record
date established therefor) in any twelve-month period do not exceed $2.25 per
share of Common Stock (which number shall subject to equitable adjustments for
stock splits, recombinations and similar events)) or rights or warrants to
subscribe for or purchase any security (excluding those referred to in

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Sections 5(a), (b) and (c) and other than with respect to rights granted
pursuant to a stockholders rights plan adopted by the Corporation), then in each
such case the Conversion Price of the Series B Preferred Stock shall be adjusted
by multiplying the Conversion Price in effect immediately prior to the record
date fixed for determination of stockholders entitled to receive such
distribution by a fraction of which the denominator shall be the fair market
value of one share of Common Stock determined as of the record date mentioned
above and the numerator shall be the fair market value of one share of Common
Stock determined as of such record date less the then fair market value at such
record date of the portion of such assets or evidence of indebtedness or rights
or warrants so distributed applicable to one outstanding share of Common Stock
as determined by the Corporation's independent certified public accountants that
regularly examine the financial statements of the Corporation (the "Appraiser").
For purposes of this Section 5(d), the "fair market value" of one share of
Common Stock shall be determined as follows:

                                (1) if the Common Stock is traded on a
securities exchange or The Nasdaq Stock Market or actively traded
over-the-counter:

                                        (A) if the Common Stock is traded on a
securities exchange or The Nasdaq Stock Market, the fair market value shall be
deemed to be the average of the closing sale prices of the Common Stock for the
five (5) trading days immediately prior to (but not including) the record date
mentioned above; or

                                        (B) if the Common Stock is actively
traded over-the-counter, the fair market value shall be deemed to be average of
the closing bid or, if the closing bid is not reported, the closing sales price
for the five (5) trading days immediately prior to (but not including) the
record date mentioned above; or

                                (2) if (i) is not applicable, the fair market
value of one share of Common Stock shall be at the highest price per share which
the Corporation could obtain on the date of calculation from a willing buyer
(not a current employee or director) for shares of Common Stock sold by the
Corporation, from authorized but unissued shares, as determined in good faith by
the Board of Directors, unless the Corporation is at such time subject to an
acquisition including the sale, conveyance or disposal of all or substantially
all of the Corporation's property or business or the Corporation's merger into
or consolidation with any other corporation (other than a wholly-owned
subsidiary corporation) or any other transaction or series of related
transactions in which more than fifty percent (50%) of the voting power of the
Corporation is disposed of, other than a merger effected exclusively for the
purpose of changing the domicile of the Corporation, in which case the fair
market value of one share of Common Stock shall be deemed to be the value
received by the holders of Common Stock pursuant to such acquisition.

                        (e) Notification of Adjustment. Upon the occurrence of
each adjustment or readjustment of the Conversion Price for the Series B
Preferred Stock pursuant to this Section 5, the Corporation at its expense shall
promptly compute such adjustment or readjustment in accordance with the terms
hereof and prepare and furnish to each holder of Series B Preferred Stock a
certificate setting forth such adjustment or readjustment showing in detail the
facts upon which such adjustment or readjustment is based. The Corporation
shall, upon the reasonable written request at any time of any holder of Series B
Preferred Stock, furnish or cause to be furnished to such holder, a like
certificate setting forth (i) such adjustments and readjustments, (ii) the
Conversion Price then in effect and (iii) the number of shares of Common Stock
and the amount, if any, of other property which at the time would be received
upon the conversion of the Series B Preferred Stock. Any notices required by the
provisions of this Section 5 to be given to the holders of shares of Series B
Preferred Stock shall be deemed given if deposited in the United States mail,
first class, postage

                                       9
<PAGE>   10

prepaid and addressed to each holder of record at its address appearing on the
books of the Corporation.

                6. No Redemption. The Series B Preferred Stock is not
redeemable.

                7. Protective Provisions. Notwithstanding the provisions of
Section 3, so long as any shares of Series B Preferred Stock are outstanding,
the Corporation shall not, without the affirmative vote of the holders of a
majority of the shares of the Series B Preferred Stock then outstanding, (i)
alter or change adversely the powers, preferences or rights given to the Series
B Preferred Stock, (ii) authorize or create any class or series of stock ranking
as to dividends or distribution of assets upon a liquidation senior to the
Series B Preferred Stock, (iii) amend its articles of incorporation or other
charter documents so as to affect adversely any rights of the holders of the
Series B Preferred Stock, (iv) increase the authorized number of shares of
Series B Preferred Stock, or (v) enter into any agreement with respect to the
foregoing which is not conditioned upon the Corporation obtaining the
affirmative vote of the holders of a majority of the shares of the Series B
Preferred Stock then outstanding as provided in clauses (i)-(iv).

                We further declare under penalty of perjury under the laws of
the State of California that the matters set forth in this Certificate of
Determination are true and correct of our own knowledge.

                                       10
<PAGE>   11

                IN WITNESS WHEREOF, the undersigned have executed this
Certificate of Determination this 14th day of December, 2000.

                                       /s/ Alvin J. Glasky
                                       -----------------------------------------
                                       Alvin J. Glasky, President

                                       /s/ Samuel Gulko
                                       -----------------------------------------
                                       Samuel Gulko, Secretary

                                       11<PAGE>   1
                                                                     EXHIBIT 4.3

                           NEOGENE TECHNOLOGIES, INC.

                          REGISTRATION RIGHTS AGREEMENT

                                DECEMBER 18, 2000

<PAGE>   2

                           NEOGENE TECHNOLOGIES, INC.

                          REGISTRATION RIGHTS AGREEMENT

        This Registration Rights Agreement (this "Agreement") is made as of
December 18, 2000, between NeoGene Technologies, Inc., a California corporation
(the "Company"), and Societe Generale, a bank organized under the laws of France
(the "Purchaser").

                                    RECITALS

        The Company, NeoTherapeutics, Inc., a Delaware corporation
("NeoTherapeutics") and the Purchaser are parties to a Securities Purchase
Agreement (the "Purchase Agreement") of even date herewith pursuant to which the
Company has agreed to sell to the Purchaser and the Purchaser has agreed to
purchase from the Company shares of the Company's Preferred Stock, warrants to
purchase shares of the Common Stock of the Company (the "Warrants") and
NeoTherapeutics has agreed to issue to the Purchaser and the Purchaser has
agreed to acquire from NeoTherapeutics warrants to purchase shares of the Common
Stock of NeoTherapeutics. As a condition to the Purchaser's obligations under
the Purchase Agreement, the Company and the Purchaser are required to enter into
this Agreement in order to provide the Purchaser with certain rights to register
shares of the Company's Common Stock issuable upon (i) conversion of the
Preferred Stock held and (ii) exercise of the Warrants.

                                    AGREEMENT

        The parties agree as follows:

1. DEFINITIONS; REGISTRATION RIGHTS.

        1.1 DEFINITIONS. For purposes of this Agreement:

                (a) "Board" means the Board of Directors of the Company, as the
same shall be constituted from time to time.

                (b) "Common Stock" means the Common Stock, no par value, of the
Company.

                (c) "Exempt Registration" means a registration statement
relating to the sale of securities by the Company pursuant to a stock option,
stock purchase or similar benefit plan or an SEC Rule 145 transaction or any
other registration statement that would not customarily provide for the
secondary sale of equity shares for cash.

                (d) "Form S-3" means such form under the Securities Act as in
effect on the date hereof or any successor form under the Securities Act that is
intended to be used as a short form for the registration of distributions of
secondary shares.

                (e) "Holder" means any person owning or having the right to
acquire Registrable Securities or any assignee thereof in accordance with
Section 1.10 of this Agreement.

<PAGE>   3

                (f) "person" means any individual, corporation, partnership,
limited liability company, trust, business, association or government or
political subdivision thereof, governmental agency or other entity.

                (g) "Qualified IPO" means the firm commitment underwritten
public offering by the Company of shares of its Common Stock pursuant to a
registration statement on Form S-1 (or any successor form) under the Securities
Act, which results in aggregate gross cash proceeds to the Company of
$25,000,000, and that is based on a pre-money valuation of the Company of at
least $80,000,000.

                (h) "Preferred Stock" means the Series B Preferred Stock of the
Company.

                (i) "register," "registered," and "registration" refer to a
registration effected by preparing and filing a registration statement or
similar document in compliance with the Securities Act and the declaration or
ordering of effectiveness of such registration statement or document.

                (j) The term "Registrable Securities" means (i) the shares of
Common Stock issuable or issued upon conversion of the Preferred Stock, (ii)
shares of Common Stock issuable or issued upon exercise of the Warrants, and
(iii) any other shares of Common Stock of the Company issued as (or issuable
upon the conversion or exercise of any warrant, right or other security which is
issued as) a dividend or other distribution with respect to, or in exchange for
or in replacement of, the shares listed in clauses (i), (ii) and this clause
(iii); provided, however, that the foregoing definition shall exclude in all
cases any Registrable Securities sold or transferred by a Holder in a
transaction in which such Holder's rights under this Agreement are not assigned.
Notwithstanding the foregoing, securities shall only be treated as Registrable
Securities if and so long as they have not been (A) sold to or through a broker
or dealer or underwriter in a public distribution or a public securities
transaction, or (B) sold in a transaction exempt from the registration and
prospectus delivery requirements of the Securities Act under Section 4(1)
thereof so that all transfer restrictions, and restrictive legends with respect
thereto, if any, are removed upon the consummation of such sale.

                (k) The number of shares of "Registrable Securities then
outstanding" shall equal the number of shares of Common Stock outstanding which
are, and the number of shares of Common Stock issuable pursuant to then
exercisable or convertible securities which are, Registrable Securities.

                (l) "SEC" means the Securities and Exchange Commission or any
other federal agency at the time administering the Securities Act.

                (m) "Securities Act" means the Securities Act of 1933, as
amended.

        1.2 COMPANY REGISTRATION.

                (a) Initiation. If (but without any obligation to do so) the
Company proposes to register (including for this purpose a registration effected
by the Company for stockholders other than the Holders) any of its stock in
connection with the public offering of such securities solely for cash (other
than an Exempt Registration), the Company shall, at such time, promptly

                                      -2-
<PAGE>   4

give each Holder notice of such proposed registration. Upon the written request
of each Holder given within 20 days after receipt by such Holder of the
Company's notice, the Company shall, subject to the provisions of Section
1.2(b), cause to be registered all of the Registrable Securities that each such
Holder has requested to be registered.

                (b) Underwritten Offering. In connection with any offering
involving an underwriting of shares of the Company's capital stock, the Company
shall not be required under Section 1.2(a) to include any of the Holders'
securities in such underwriting unless they accept the terms of the underwriting
as agreed upon between the Company and the underwriters selected by it (or by
other persons entitled to select the underwriters), and then only in such
quantity as the underwriters determine in their sole discretion will not
jeopardize the success of the offering by the Company. If the total amount of
securities, including Registrable Securities, requested by stockholders to be
included in such offering exceeds the amount of securities sold other than by
the Company that the underwriters determine in their sole discretion is
compatible with the success of the offering, then the Company shall be required
to include in the offering only that number of such securities, including
Registrable Securities, which the underwriters determine in their sole
discretion will not jeopardize the success of the offering (the securities so
included to be apportioned pro rata (to the nearest 100 shares) among the
selling stockholders according to the total amount of securities entitled to be
included therein owned by each selling stockholder or in such other proportions
as shall mutually be agreed to by such selling stockholders). For purposes of
the preceding apportionment, for any participating Holder that is a partnership,
limited liability company or corporation, the partners, retired partners,
members, retired members and stockholders of such Holder, or the estates and
family members of any such partners, members, retired partners or members and
any trusts for the benefit of any of the foregoing persons shall be deemed to be
a single "selling stockholder," and any pro-rata reduction with respect to such
"selling stockholder" shall be based upon the aggregate amount of shares
carrying registration rights owned by all Persons included in such "selling
stockholder," as defined in this sentence.

                (c) Right to Terminate Registration. The Company shall have the
right to terminate or withdraw any registration initiated by it under this
Section 1.2 prior to the effectiveness of such registration whether or not any
Holder has elected to include Registrable Securities in such registration.

        1.3 FORM S-3 REGISTRATION. In case the Company shall receive from any
Holder or Holders holding not less than twenty-five percent (25%) of the
Registrable Securities then outstanding a written request or requests that the
Company effect a resale registration statement on Form S-3 and any related
qualification or compliance with respect to all or a part of the Registrable
Securities owned by such Holder or Holders, the Company will:

                (a) promptly give written notice of the proposed registration,
and any related qualification or compliance, to all other Holders; and

                (b) as soon as practicable, effect such registration and all
such qualifications and compliances as may be so requested and as would permit
or facilitate the sale and distribution of all or such portion of such Holder's
or Holders' Registrable Securities as are specified in such request, together
with all or such portion of the Registrable Securities of any

                                      -3-
<PAGE>   5

other Holder or Holders joining in such request as are specified in a written
request given within 15 days after receipt of such written notice from the
Company; provided, however, that the Company shall not be obligated to effect
any such registration, qualification or compliance, pursuant to this Section
1.3: (i) if Form S-3 is not available for such offering by the Holders; (ii) if
the Holders, together with the holders of any other securities of the Company
entitled to inclusion in such registration statement, propose to sell
Registrable Securities and such other securities (if any) at an aggregate price
to the public (net of any underwriters' discounts or commissions) of less than
$1,000,000; (iii) if the Company shall furnish to the Holders a certificate
signed by the President of the Company stating that in the good faith judgment
of the Board of Directors of the Company, it would be seriously detrimental to
the Company and its shareholders for such Form S-3 registration statement to be
filed or declared effective at such time, in which event the Company shall have
the right to defer the filing of the Form S-3 registration statement for a
period of not more than 60 days after receipt of the request of the Holder or
Holders under this Section 1.3; provided, however, that the Company shall not
utilize this right more than once in any twelve month period; (iv) if the
Company has, within the twelve (12) month period preceding the date of such
request, already effected two registrations on Form S-3 for the Holders pursuant
to this Section 1.3; (v) in any particular jurisdiction in which the Company
would be required to qualify to do business or to execute a general consent to
service of process in effecting such registration, qualification or compliance;
or (vi) during the period ending one hundred eighty (180) days after the
effective date of a registration statement subject to Section 1.2.

                (c) Subject to the foregoing, the Company shall file a
registration statement covering the Registrable Securities and other securities
so requested to be registered as soon as practicable after, and in any event
within 45 days after (the "Filing Deadline"), receipt of any request or requests
of the Holders and use its commercially reasonable efforts to cause such filed
registration statement to become effective by the Effectiveness Date.
"Effectiveness Date" means the 90th day following receipt by the Company of any
request or requests of their Holders.

                (d) If (i) a registration statement pursuant hereto is not filed
on or before the Filing Deadline, or (ii) the Company fails to file with the
Commission a request to accelerate the effectiveness of the Registration
Statement Deadline within five (5) days of the date that the Company is notified
(orally or in writing, whichever is earlier) by the Commission that a
registration statement will not be "reviewed" or is not subject to further
review, or (iii) a registration statement filed hereunder is not declared
effective by the SEC on or before the Effectiveness Date, (any such failure or
breach being referred to as an "Event," and for purposes of clauses (i) and
(iii) the date on which such Event occurs, or for purposes of clause (ii) the
date on which such five (5) day period is exceeded, being referred to as an
"Event Date"), then, in any such case, as partial relief for the damages
suffered therefrom by the Holder (which remedy shall not be exclusive of any
other remedies available at law or in equity), the Company shall, on the Event
Date and on each monthly anniversary of the Event Date, unless the triggering
Event is cured prior to such monthly anniversary, pay to the Holder an amount in
cash, as liquidated damages for the estimated cost to the Holders of not having
liquid securities in the time contemplated by the Purchase Agreement and not as
a penalty, equal to 2% of the Purchase Price (as defined in the Purchase
Agreement) paid by such Holder. The payments to which the Holders shall be
entitled pursuant to this Section are referred to herein as "Registration Delay
Payments." Registration Delay Payments shall be paid within five (5) Business
Days of the

                                      -4-
<PAGE>   6

Event Date and each monthly anniversary thereof, as applicable. If the Company
fails to make Registration Delay Payments in a timely manner, the unpaid portion
of such Registration Delay Payments shall bear interest at the rate of 2.0% per
month (or the maximum rate permitted by law), pro-rated for partial months,
until paid in full.

        1.4 OBLIGATIONS OF THE COMPANY. Whenever required under this Section 1
to effect the registration of any Registrable Securities, the Company shall, as
expeditiously as reasonably possible:

                (a) Prepare and file with the SEC a registration statement with
respect to such Registrable Securities and use its best efforts to cause such
registration statement to become effective.

                (b) Prepare and file with the SEC such amendments and
supplements to such registration statement and the prospectus used in connection
with such registration statement as may be necessary to comply with the
provisions of the Securities Act.

                (c) Furnish to the Holders such numbers of copies of a
prospectus, including a preliminary prospectus, in conformity with the
requirements of the Securities Act, and such other documents as they may
reasonably request in order to facilitate the disposition of such Registrable
Securities.

                (d) Use its reasonable best efforts to register and qualify the
securities covered by such registration statement under such other securities or
Blue Sky laws of such jurisdictions as shall be reasonably requested by the
Holders, provided that the Company shall not be required in connection therewith
or as a condition thereto to qualify to do business or to file a general consent
to service of process in any such states or jurisdictions.

                (e) In the event of any underwritten public offering, enter into
and perform its obligations under an underwriting agreement with the managing
underwriter of such offering in usual and customary form and consistent with the
other provisions of this Agreement. Each Holder participating in such
underwriting shall also enter into and perform its obligations under such an
agreement.

                (f) Promptly notify each Holder covered by the registration
statement at any time when the Company becomes aware of the happening of any
event as a result of which the registration statement or the prospectus included
in such registration statement or any supplement to the prospectus (as then in
effect) contains any untrue statement of a material fact or omits to state a
material fact necessary to make the statements there in (in the case of the
prospectus, in light of the circumstances under which they were made) not
misleading or, if for any other reason it shall be necessary during such time
period to amend or supplement the registration statement or the prospectus in
order to comply with the Securities Act, whereupon, in either case, each Holder
shall immediately cease to use such registration statement or prospectus for any
purpose and, as promptly as practicable thereafter, the Company shall prepare
and file with the SEC, and furnish without charge to the appropriate Holders and
managing underwriters, if any, a supplement or amendment to such registration
statement or prospectus which will

                                      -5-
<PAGE>   7

correct such statement or omission or effect such compliance and such copies
thereof as the Holders and any underwriters may reasonably request.

                (g) Cause all such Registrable Securities registered pursuant
hereunder to be listed on each securities exchange or market on which similar
securities issued by the Company are then listed or traded, if applicable.

                (h) Provide a transfer agent and registrar for such Registrable
Securities not later than the effective date of such registration.

                (i) Use its reasonable best efforts to furnish, at the request
of any Holder requesting registration of Registrable Securities pursuant to this
Section 1, on the date that such Registrable Securities are delivered to the
underwriters for sale in connection with a registration pursuant to this Section
1, if such securities are being sold through underwriters, or, if such
securities are not being sold through underwriters, on the date that the
registration statement with respect to such securities becomes effective, (i) an
opinion, dated such date, of the counsel representing the Company for the
purposes of such registration, in form and substance as is customarily given to
underwriters in an underwritten public offering, addressed to the underwriters,
if any, and to the Holders requesting registration of Registrable Securities and
(ii) a letter dated such date, from the independent certified public accountants
of the Company, in form and substance as is customarily given by independent
certified public accountants to underwriters in an underwritten public offering,
addressed to the underwriters, if any, and to the Holders requesting
registration of Registrable Securities (to the extent the then applicable
standards of professional conduct permit said letter to be addressed to the
Holders).

        1.5 FURNISH INFORMATION. It shall be a condition precedent to the
obligations of the Company to take any action pursuant to this Section 1 with
respect to the Registrable Securities of any selling Holder that such Holder
shall furnish to the Company such information regarding itself, the Registrable
Securities held by it, and the intended method of disposition of such securities
as shall be required to effect the registration of such Holder's Registrable
Securities.

        1.6 EXPENSES OF REGISTRATION.

                (a) Company Registration. All expenses other than underwriting
discounts and commissions incurred in connection with registrations initiated
pursuant to Section 1.2, including without limitation all registration, filing
and qualification fees, printers' and accounting fees, fees and disbursements of
counsel for the Company, and the reasonable fees up to a maximum of $5,000 and
disbursements of one counsel for the selling Holders selected by Holders selling
a majority of the subject Registrable Securities, shall be borne by the Company.

                (b) Registration on Form S-3. All expenses incurred in
connection with a registration requested pursuant to Section 1.3, including
(without limitation) all registration, filing, qualification, printers' and
accounting fees and the reasonable fees and disbursements of one counsel for the
selling Holder or Holders selected by Holders selling a majority of the subject
Registrable Securities, and counsel for the Company shall be borne by the
Company, and any underwriters' discounts or commissions associated with
Registrable Securities, shall be borne pro rata by the Holder or Holders
participating in the Form S-3 Registration.

                                      -6-
<PAGE>   8

        1.7 DELAY OF REGISTRATION. No Holder shall have any right to obtain or
seek an injunction restraining or otherwise delaying any such registration as
the result of any controversy that might arise with respect to the
interpretation or implementation of this Section 1.

        1.8 INDEMNIFICATION. In the event any Registrable Securities are
included in a registration statement under this Section 1:

                (a) Indemnification by the Company. To the extent permitted by
law, the Company will indemnify and hold harmless each Holder, any underwriter
(as defined in the Securities Act) for such Holder and each person, if any, who
controls such Holder or underwriter within the meaning of the Securities Act or
the Securities Exchange Act of 1934, as amended (the "Exchange Act"), against
any losses, claims, damages, or liabilities (joint or several) to which they may
become subject under the Securities Act, the Exchange Act or other federal or
state law, insofar as such losses, claims, damages, or liabilities (or actions
in respect thereof) arise out of or are based upon any of the following
statements, omissions or violations (collectively a "Violation"): (i) any untrue
statement or alleged untrue statement of a material fact contained in such
registration statement, including any preliminary prospectus or final prospectus
contained therein or any amendments or supplements thereto, (ii) the omission or
alleged omission to state therein a material fact required to be stated therein,
or necessary to make the statements therein not misleading, or (iii) any
violation or alleged violation by the Company of the Securities Act, the
Exchange Act, any state securities law or any rule or regulation promulgated
under the Securities Act, the Exchange Act or any state securities law; and the
Company will pay to each such Holder, underwriter or controlling person, as
incurred, any legal or other expenses reasonably incurred by them in connection
with investigating or defending any such loss, claim, damage, liability, or
action; provided, however, that the indemnity agreement contained in this
subsection 1.8(a) shall not apply to amounts paid in settlement of any such
loss, claim, damage, liability, or action if such settlement is effected without
the consent of the Company (which consent shall not be unreasonably withheld),
nor shall the Company be liable to any Holder, underwriter or controlling person
for any such loss, claim, damage, liability, or action to the extent that it
arises out of or is based upon a Violation which occurs in reliance upon and in
conformity with written information furnished expressly for use in connection
with such registration by any such Holder, underwriter or controlling person.

                (b) Indemnification by the Holders. To the extent permitted by
law, each selling Holder will indemnify and hold harmless the Company, each of
its directors, each of its officers who has signed the registration statement,
each person, if any, who controls the Company within the meaning of the
Securities Act, any underwriter, any other Holder selling securities in such
registration statement and any controlling person of any such underwriter or
other Holder, against any losses, claims, damages, or liabilities (joint or
several) to which any of the foregoing persons may become subject, under the
Securities Act, the Exchange Act or other federal or state law, insofar as such
losses, claims, damages, or liabilities (or actions in respect thereto) arise
out of or are based upon any Violation, in each case to the extent (and only to
the extent) that such Violation occurs in reliance upon and in conformity with
written information furnished by such Holder expressly for use in connection
with such registration statement; and each such Holder will pay, as incurred,
any legal or other expenses reasonably incurred by any person intended to be
indemnified pursuant to this Section 1.8(b), in connection with investigating or
defending any such loss, claim, damage, liability, or action; provided, however,

                                      -7-
<PAGE>   9

that the indemnity agreement contained in this Section 1.8(b) shall not apply to
amounts paid in settlement of any such loss, claim, damage, liability or action
if such settlement is effected without the consent of the Holder, which consent
shall not be unreasonably withheld; provided, that in no event shall any
indemnity under this Section 1.8(b) exceed the net proceeds from the offering
received by such Holder, except in the case of willful fraud by such Holder.

                (c) Procedures. Promptly after receipt by an indemnified party
under this Section 1.8 of notice of the commencement of any action (including
any governmental action), such indemnified party will, if a claim in respect
thereof is to be made against any indemnifying party under this Section 1.8,
deliver to the indemnifying party a written notice of the commencement thereof
and the indemnifying party shall have the right to participate in, and, to the
extent the indemnifying party so desires, jointly with any other indemnifying
party similarly noticed, to assume the defense thereof with counsel mutually
satisfactory to the parties; provided, however, that an indemnified party
(together with all other indemnified parties which may be represented without
conflict by one counsel) shall have the right to retain one separate counsel,
with the reasonable fees and expenses to be paid by the indemnifying party, if
representation of such indemnified party by the counsel retained by the
indemnifying party would be inappropriate due to actual or potential differing
interests between such indemnified party and any other party represented by such
counsel in such proceeding. The failure to deliver written notice to the
indemnifying party within a reasonable time of the commencement of any such
action, if prejudicial to its ability to defend such action, shall relieve such
indemnifying party of any liability to the indemnified party under this Section
1.8, but the omission so to deliver written notice to the indemnifying party
will not relieve it of any liability that it may have to any indemnified party
otherwise than under this Section 1.8. No indemnifying party, in the defense of
any such claim or litigation, shall, except with the consent of each indemnified
party, consent to entry of any judgment or enter into any settlement which does
not include as an unconditional term thereof the giving by the claimant or
plaintiff to such indemnified party of a release from all liability in respect
to such claim or litigation. The indemnity agreements contained in this Section
1.8 shall not apply to amounts paid in settlement of any loss, claim, damage,
liability or action if such settlement is effected without the consent of the
indemnifying party.

                (d) Contribution. If the indemnification provided for in this
Section 1.8 is held by a court of competent jurisdiction to be unavailable to an
indemnified party with respect to any loss, liability, claim, damage or expense
referred to therein, then the indemnifying party, in lieu of indemnifying such
indemnified party hereunder, shall contribute to the amount paid or payable by
such indemnified party as a result of such loss, liability, claim, damage, or
expense in such proportion as is appropriate to reflect the relative fault of
the indemnifying party on the one hand and of the indemnified party on the other
in connection with the statements or omissions that resulted in such loss,
liability, claim, damage or expense as well as any other relevant equitable
considerations; provided, that in no event shall any contribution by a Holder
under this Section 1.8(d) exceed the net proceeds from the offering received by
such Holder, except in the case of willful fraud by such Holder. The relative
fault of the indemnifying party and of the indemnified party shall be determined
by reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission to state a material fact relates to
information supplied by the indemnifying party or by the indemnified party and
the parties' relative intent, knowledge, access to information, and opportunity
to correct or prevent such statement or omission.

                                      -8-
<PAGE>   10

                (e) Underwriting Agreement. Notwithstanding the foregoing, to
the extent that the provisions on indemnification and contribution contained in
the underwriting agreement entered into in connection with the underwritten
public offering are in conflict with the foregoing provisions, the provisions in
the underwriting agreement shall control.

                (f) Survival. The obligations of the Company and Holders under
this Section 1.8 shall survive the completion of any offering of Registrable
Securities in a registration statement under this Section 1, and otherwise.

        1.9 REPORTS UNDER EXCHANGE ACT. With a view to making available to the
Holders the benefits of Rule 144 promulgated under the Securities Act and any
other rule or regulation of the SEC that may at any time permit a Holder to sell
securities of the Company to the public without registration, the Company agrees
to:

                (a) make and keep public information available, in accordance
with SEC Rule 144, at all times after the effective date of the first
registration statement filed by the Company for the offering of its securities
to the general public so long as the Company remains subject to the periodic
reporting requirements under Sections 13 or 15(d) of the Exchange Act;

                (b) file with the SEC in a timely manner all reports and other
documents as may be required of the Company under the Securities Act and the
Exchange Act; and

                (c) furnish to any Holder, so long as the Holder owns any
Registrable Securities, forthwith upon request (i) a written statement by the
Company that it has complied with the reporting requirements of SEC Rule 144,
the Securities Act and the Exchange Act (at any time after it has become subject
to such reporting requirements), (ii) a copy of the most recent annual or
quarterly report of the Company and such other reports and documents so filed by
the Company, and (iii) such other information as may be reasonably requested in
availing any Holder of any rule or regulation of the SEC which permits the
selling of any such securities without registration or pursuant to such form.

        1.10 ASSIGNMENT OF REGISTRATION RIGHTS. The rights to cause the Company
to register securities granted Holders under Sections 1.2 and 1.3 may be
assigned to a transferee or assignee in connection with any transfer or
assignment of Preferred Stock, Warrants or Registrable Securities by a Holder;
provided, that (a) such transfer may otherwise be effected in accordance with
applicable securities laws and restrictions on transfer agreed upon by the
Holder and the Company (including those set forth in the Purchase Agreement),
(b) notice of such assignment is given to the Company, (c) such transferee or
assignee (i) is a wholly-owned subsidiary or constituent partner, retired
partner, member, retired member or shareholder of such Holder, or (ii) is a
spouse, ancestor or descendant or (iii) is a trust for the benefit of such
Holder or any spouse, ancestor or descendant of such Holder, or (iv) acquires
from such Holder at least 50,000 Registrable Securities, or Preferred Stock or
Warrants convertible into or exercisable for such amount of Registrable
Securities, (as appropriately adjusted for stock splits and the like) and (d)
such transferee or assignee agrees to be bound by all provisions of this
Agreement. Notwithstanding the foregoing all assignees and transferees of a
Holder who acquire less than 50,000 Registrable Securities or Preferred Stock or
Warrants convertible into or exercisable for such amount of Registrable
Securities, (as appropriately adjusted for stock splits and the like)

                                      -9-
<PAGE>   11

from such Holder shall have a single attorney-in-fact for the purpose of
exercising any rights, receiving notices or taking any action under Section 1.

        1.11 MARKET-STANDOFF AGREEMENT.

                (a) Market-Standoff Period; Agreement. In connection with the
initial public offering of the Company's securities and upon request of the
Company or the underwriters managing such offering of the Company's securities,
each Holder hereby agrees not to sell, make any short sale of, loan, grant any
option for the purchase of, or otherwise dispose of any securities of the
Company (other than any disposed of in the registration and those acquired by
the Holder in the registration or thereafter in open market transactions)
without the prior written consent of the Company or such underwriters, as the
case may be, for such period of time (not to exceed 180 days) from the effective
date of such registration as may be requested by the Company or such managing
underwriters and to execute an agreement reflecting the foregoing as may be
requested by the underwriters at the time of the Company's initial public
offering. In addition, the Holder agrees to be bound by similar restrictions,
and to sign a similar agreement, in connection with no more than one additional
registration statement for a primary offering filed after the closing date of
the initial public offering; provided, that the duration of the market-standoff
period with respect to such additional registration shall not exceed 90 days
from the effective date of such additional registration statement; and provided,
further, that the Holder beneficially owns at least 3% of the securities
registered under such registration statement at the time of the effectiveness of
such registration statement.

                (b) Limitations. The obligations described in Section 1.11(a)
shall apply only if all officers and directors of the Company, all other persons
with registration rights (whether or not pursuant to this Agreement) and all
holders of a percentage ownership of the class of securities subject to the
registration under the registration statement equal to or greater than that of
the Holder enter into similar agreements. If the Company or the underwriter of
any public offering of the Company's securities waive or terminate any standoff
or lockup restrictions imposed on any holder of securities of the Company, then
such waiver or termination shall be granted to all Holders subject to standoff
or lockup restrictions pro rata based on the number of shares of Common Stock
beneficially held by such holder and the Holders. From and after the date of
this Agreement, the Company shall use its best efforts to ensure that all
holders of capital stock of the Company agree to be bound by terms substantially
similar to those set forth in this Section 1.11.

                (c) Stop-Transfer Instructions. In order to enforce the
foregoing covenants, the Company may impose stop-transfer instructions with
respect to the securities of each Holder (and the securities of every other
person subject to the restrictions in Section 1.11(a)).

                (d) Transferees Bound. Each Holder agrees that it will not
transfer securities of the Company unless each transferee agrees in writing to
be bound by all of the provisions of this Section 1.11, provided that this
Section 1.11(d) shall not apply to transfers pursuant to a registration
statement or transfers after the 12-month anniversary of the effective date of
the Company's initial registration statement subject to this Section 1.11.

                                      -10-
<PAGE>   12

        1.12 TERMINATION OF REGISTRATION RIGHTS. No Holder shall be entitled to
exercise any registration right provided for in this Section 1 after the earlier
of (i) three years following the consummation of a Qualified IPO, and (ii) such
time as Rule 144(k) or another similar exemption under the Securities Act is
available for the sale of all of such Holder's shares without limitation as to
volume or manner of sale.

2. MISCELLANEOUS.

        2.1 ENTIRE AGREEMENT. This Agreement constitutes the entire agreement
among the parties hereto pertaining to the subject matter hereof, and any and
all other written or oral agreements relating to the subject matter hereof
existing among any of the parties hereto are expressly canceled.

        2.2 RECAPITALIZATIONS, ETC. The provisions of this Agreement (including
any calculation of share ownership) shall apply, to the full extent set forth
herein with respect to the Registrable Securities and to the Common Stock, to
any and all shares of capital stock of the Company or any capital stock,
partnership or member units or any other security evidencing ownership interests
in any successor or assign of the Company (whether by merger, consolidation,
sale of assets or otherwise) that may be issued in respect of, in exchange for,
or in substitution of the Registrable Securities by reason of any stock
dividend, split, combination, recapitalization, liquidation, reclassification,
merger, consolidation or otherwise.

        2.3 SUCCESSORS AND ASSIGNS. Except as otherwise provided in this
Agreement, and subject to the restriction on transfer set forth in the Purchase
Agreement, the terms and conditions of this Agreement shall inure to the benefit
of and be binding upon the respective permitted successors and assigns of the
parties (including transferees of any of the Preferred Stock, the Warrants or
any Common Stock or other securities issued upon conversion thereof). Nothing in
this Agreement, express or implied, is intended to confer upon any party other
than the parties hereto or their respective successors and assigns any rights,
remedies, obligations, or liabilities under or by reason of this Agreement,
except as expressly provided in this Agreement.

        2.4 AMENDMENTS AND WAIVERS. Any term of this Agreement may be amended or
waived only with the written consent of the Company and the holders of at least
a majority of the Registrable Securities then outstanding. The Purchasers and
their successors and assigns acknowledge that by operation of this Section 2.4,
the holders of at least a majority of the then outstanding Registrable
Securities, when acting together with the Company, will have the right and power
to diminish or eliminate any rights or increase any or all obligations under
this Agreement.

        2.5 NOTICES. Any notice required or permitted by this Agreement shall be
in writing and shall be deemed sufficient upon delivery, when delivered
personally or by overnight courier or sent by telegram or fax, or forty-eight
(48) hours after being deposited in the U.S. mail, as certified or registered
mail, with postage prepaid, addressed (a) if to the Company or NeoTherapeutics,
to 157 Technology Drive, Irvine, California 92618, Attention: Chief Financial
Officer or via facsimile to (949) 788-6706, with a copy to Latham & Watkins, 650
Town Center Drive, Suite 2000, Costa Mesa, California 92626-1925, Attention:
Alan W. Pettis, or via facsimile to (714) 755-8290, or (b) if to Purchaser, to
such party's address or fax number set

                                      -11-
<PAGE>   13

forth on the signature page hereto, with a copy to Jones, Day, Reavis & Pogue,
599 Lexington Avenue, New York, New York 100022, attention: J. Eric Maki, Esq.

        2.6 SEVERABILITY. If one or more provisions of this Agreement are held
to be unenforceable under applicable law, the parties agree to renegotiate such
provision in good faith. Until the parties have agreed upon an enforceable
replacement for such provision, (a) such provision shall be excluded from this
Agreement, (b) the balance of the Agreement shall be interpreted as if such
provision were so excluded and (c) the balance of the Agreement shall be
enforceable in accordance with its terms.

        2.7 DELAYS OR OMISSIONS; REMEDIES CUMULATIVE. No delay or omission to
exercise any right, power or remedy accruing to any party under this Agreement,
upon any breach or default of any other party under this Agreement, shall impair
any such right, power or remedy of such non-breaching or non-defaulting party
nor shall it be construed to be a waiver of any such breach or default, or an
acquiescence therein, or of or in any similar breach or default thereafter
occurring; nor shall any waiver of any single breach or default be deemed a
waiver of any other breach or default theretofore or thereafter occurring. Any
waiver, permit, consent or approval of any kind or character on the part of any
party of any breach or default under this Agreement, or any waiver on the part
of any party of any provisions or conditions of this Agreement, must be in
writing and shall be effective only to the extent specifically set forth in such
writing. All remedies, either under this Agreement or by law or otherwise
afforded to any party, shall be cumulative and not alternative.

        2.8 ATTORNEY'S FEES. If any action at law or in equity (including
arbitration) is necessary to enforce or interpret the terms of any this
Agreement, the prevailing party shall be entitled to reasonable attorney's fees,
costs and necessary disbursements in addition to any other relief to which such
party may be entitled.

        2.9 GOVERNING LAW. The corporate laws of the State of California shall
govern all issues concerning the relative rights of the Company and its
shareholders. All other questions concerning the construction, validity,
enforcement and interpretation of this Agreement shall be governed by and
construed and enforced in accordance with the internal laws of the State of New
York, without regard to the principles of conflicts of law thereof. The Company
and each Purchaser hereby irrevocably submit to the exclusive jurisdiction of
the state and federal courts sitting in the City of New York, Borough of
Manhattan, for the adjudication of any dispute hereunder or in connection
herewith or with any transaction contemplated hereby or discussed herein, and
hereby irrevocably waives, and agrees not to assert in any suit, action or
proceeding, any claim that it is not personally subject to the jurisdiction of
any such court, or that such suit, action or proceeding is improper. Each of the
Company and each Purchaser hereby irrevocably waives personal service of process
and consents to process being served in any such suit, action or proceeding by
receiving a copy thereof sent to the Company at the address in effect for
notices to it under this instrument and agrees that such service shall
constitute good and sufficient service of process and notice thereof. Nothing
contained herein shall be deemed to limit in any way any right to serve process
in any manner permitted by law.

                                      -12-
<PAGE>   14

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

        2.11 TITLES AND SUBTITLES. The titles and subtitles used in this
Agreement are used for convenience only and are not to be considered in
construing or interpreting this Agreement.

        2.12 AGGREGATION OF STOCK. All shares of Company stock held or acquired
by affiliated Persons (including former and current partners, former and current
members and former and current stockholders) shall be aggregated together for
the purpose of determining the availability of any rights under this Agreement.

        2.13 CONFIDENTIALITY. Each Holder agrees that, except with the prior
written permission of the applicable party, it shall at all times keep
confidential and not divulge, furnish or make accessible to anyone any
confidential information, knowledge or data concerning or relating to the
business or financial affairs of the Company or any other party to which such
Holder has been or shall become privy by reason of this Agreement. The
provisions of this Section 2.13 shall be in addition to, and not in substitution
for, the provisions of any separate nondisclosure agreement executed by the
parties hereto with respect to the transactions contemplated hereby.

        2.14 INDEPENDENT NATURE OF HOLDERS' OBLIGATIONS AND RIGHTS. The
obligations of each Holder hereunder is several and not joint with the
obligations of any other Holder hereunder, and no Holder shall be responsible in
any way for the performance of the obligations of any other Holder hereunder.
Nothing contained herein or in any other agreement or document delivered at any
closing, and no action taken by any Holder pursuant hereto or thereto, shall be
deemed to constitute the Holders as a partnership, an association, a joint
venture or any other kind of entity, or create a presumption that the Holders
are in any way acting in concert with respect to such obligations or the
transactions contemplated by this Agreement. Each Holder shall be entitled to
protect and enforce its rights, including without limitation the rights arising
out of this Agreement, and it shall not be necessary for any other Holder to be
joined as an additional party in any proceeding for such purpose.

                            [Signature Page Follows]

                                      -13-
<PAGE>   15

        The parties have executed this Registration Rights Agreement as of the
date first above written.

NEOGENE TECHNOLOGIES, INC.             SOCIETE GENERALE

By: /s/ Samuel Gulko                   By: /s/ Guillaume Pollet
    ------------------------------         -------------------------------------
Name:   Samuel Gulko                   Name:   Guillaume Pollet
      ----------------------------           -----------------------------------
Title:  Chief Financial Officer        Title:  Managing Director
       ---------------------------            ----------------------------------

                                       Address:
                                       c/o SG Cowen Securities Corporation
                                       1221 Avenue of the Americas
                                       New York, New York  10020
                                       Facsimile: (212) 278-5467
                                       Attn: Guillaume Pollet

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