Document:

EXHIBIT 10.47

 

CREDIT AGREEMENT

 

BY AND BETWEEN

 

QUEST DIAGNOSTICS INCORPORATED

 

AND

 

CIPHERGEN BIOSYSTEMS, INC.

 

 

CREDIT AGREEMENT

 

THIS CREDIT
AGREEMENT (this “Agreement”) is made and effective on the 22nd day of
July, 2005, by and between Ciphergen Biosystems, Inc., a Delaware
corporation (“Borrower” or “the Company”), and Quest Diagnostics
Incorporated, a Delaware corporation (the “Lender” or “Quest
Diagnostics”).

 

WHEREAS,
the Company and Quest Diagnostics have entered into a Strategic Alliance Agreement
dated as of the date hereof (the “Strategic Alliance Agreement”) related
to the development of laboratory tests; and

 

WHEREAS,
Borrower wishes to obtain from Lender and Lender wishes to grant to Borrower a
line of credit in the principal amount of ten million dollars ($10,000,000)
(the “Maximum Principal Obligation”).

 

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

 

1.                                       THE LOAN.

 

1.1                                 Loan.

Subject
to the terms contained herein, Lender hereby agrees to loan to Borrower (the
total principal amounts loaned pursuant to this Section 1.1 are referred
to as the “Loan”) an aggregate principal amount equal to the Maximum Principal
Obligation of ten million dollars ($10,000,000).

 

1.2                                 Use of Loan Proceeds.

The
proceeds of the Loan shall only be used to pay the costs and expenses directly
related to the preparation of the Plans and the activities contemplated by the
strategic alliance as more fully set forth in the Strategic Alliance Agreement.

 

1.3                                 Procedure for Disbursement.

1.3.1                        Disbursements under the Loan shall be made in
increments of four hundred sixteen thousand six hundred sixty six dollars and
66 cents ($416,666.66) on the last day of each 

 

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month during the twenty four (24) month period
ending after the date of this Agreement. 
Prior to each disbursement, Borrower shall provide to Lender a
certification by the Chief Executive Officer or Chief Financial Officer as to: (a) the
completeness and accuracy at the time of the certification of the
representations and warranties contained in Article 3; and (b) the
absence of any default hereunder.

 

1.3.2                        Amounts distributed under this Agreement shall be
delivered by Lender to Borrower or its order in cash or cash equivalent,
provided that Borrower shall have previously executed and delivered to Lender one
or more Revolving Promissory Notes in the form attached hereto as Schedule A (the “Note”) promising to pay amounts
borrowed in accordance with the terms of the Note and this Agreement.

 

1.4                                 Interest.

Subject
to Section 1.5.3, interest shall accrue on the average daily balance of
all amounts loaned to Borrower at an annual rate equal to the Prime Rate plus
0.5% until such time as the Loan is forgiven or repaid in accordance with Section 1.5.2.  Interest shall be calculated on the basis of
the actual number of days elapsed over a year of 365 days (or 366, if
applicable).  Prime Rate means the per
annum rate of interest established from time to time by Bank of America as its
Prime Rate.  Any change in the interest
rate resulting from a change in the Prime Rate shall become effective as of
12:01 a.m. of the Business Day on which each change in the Prime Rate is
announced by Bank of America.  The Prime
Rate is a reference rate used by Bank of America in determining interest rates
on some loans which may be priced at, above or below such announced rate and is
not intended to be the lowest rate of interest charged on any extension of
credit to any debtor.

 

1.5                                 Repayment.

1.5.1                        Termination of Agreement.  All rights
and obligations under this Agreement, including but not limited to Borrower’s
obligations of repayment and Lender’s rights under Section 4 shall
survive, and remain in full force and effect, until all principal and interest and
any other amounts due Lender hereunder are fully paid.  Borrower shall have the right to terminate
this Agreement upon two (2) business days notice and payment in full of
all principal and interest and other amounts, if any,  due Lender under this Agreement.

 

3

 

1.5.2                        Loan to be Forgiven Upon Achievement of Milestones;
Repayment of Principal and Interest.   Provided no Event of Default has occurred
and is continuing, the Loan shall be forgiven to the extent that Borrower
achieves certain milestones with respect to three Plans presented pursuant to
the strategic alliance as set forth in the Strategic Alliance Agreement.  In the event Borrower fails to achieve
certain milestones as set forth on Schedule B,
the principal amount outstanding related to each milestone not achieved shall
be due and payable to Lender in one lump sum on the fifth anniversary of the
date of this Agreement.  Except to the
extent the Loan is forgiven, beginning on the first Business Day of the month
following the date of this Agreement, Borrower shall pay to Lender, on a
monthly basis and at such time as any principal is prepaid or paid at maturity,
all accrued and unpaid interest on the Loan. 
All payments of principal and interest shall be paid to Lender by wire
transfer.  Payment by wire transfer
should be made to Bank of New York, New York, NY, ABA Number 021000018, Account
Name: Quest Diagnostics Incorporated, Account Number: 8900159464.

 

1.5.3                        Late Payment.

Except
to the extent the Loan is forgiven, failure to pay any part of the principal, interest
or other amount owing hereunder or under any Note within five (5) days
after the day on which such payment becomes due and payable shall automatically
cause the interest rate on such overdue payment(s) of principal and/or (to the
extent permitted by applicable law) interest to be increased by two percent
(2%) per annum over the Prime Rate under Section 1.4 (the “Default Rate
of Interest”), provided, however, that the imposition of the Default Rate
of Interest shall not be construed as a waiver of default, or diminish or
otherwise alter or restrict Lender’s right to declare this Agreement in default
and to exercise such other rights and remedies as it shall possess under this
Agreement or under law.

 

1.5.4                        Prepayment.

Borrower
may, at any time, or from time to time, prepay any part of the Loan’s principal
amount then outstanding together with interest accrued on the amount prepaid to
the date of prepayment.

 

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2.                                       RECORDS AND REPORTS.

 

2.1                                 Accounting.

Borrower
shall cause to be kept full and proper books of records and accounts, in which
full, true, and proper entries will be made of all dealings, business and
affairs of Borrower which in any way affect or pertain to the operation of
Borrower.   Borrower shall keep its books
and records in the manner conforming to generally accepted accounting
principles.

 

2.2                                 Inspection of Records.

Upon
five (5) business days notice, so long as Lender is subject to
confidentiality requirements that are adequate under applicable law, Borrower
shall provide Lender or any of its duly authorized representatives access,
during normal working hours, to any financial books, documents, papers and
records for the purposes of audit, examination or evaluation.  Borrower further agrees to furnish copies of
such financial papers and documents to Lender as it may reasonably require from
time to time.

 

2.3                                 Notice of Event of Default.

Immediately
upon becoming aware of the existence of any Event of Default as defined in Section 4.1
herein, or event which with notice, lapse of time, or both, would become an
Event of Default, the Borrower shall provide to Lender a notice describing its
nature and any action the Borrower is taking (or proposes to take) in
connection therewith.

 

3.                                       REPRESENTATIONS, WARRANTIES AND COVENANTS OF
BORROWER.

 

3.1                                 Representations and Warranties.  Borrower
represents and warrants that:

3.1.1.                     Borrower is a corporation duly organized, validly
existing, in good standing and possessing all powers and authority to own its
property and to conduct the business in which it is engaged as well as all
other rights and privileges generally granted by the State of Delaware.  Borrower is
qualified to do business in the State of California.  The activities of Borrower do not make it
necessary that it be qualified as a foreign corporation in any other state
except where the failure to be so qualified could not reasonably be expected to
have a material adverse effect on the business conducted by Borrower.

 

3.1.2                        Borrower shall remain at all times in compliance in
all material respects with the requirements of federal and state and local laws
applicable to Borrower’s business.

 

3.1.3                        Borrower is not in violation of, or in default (nor
has any event occurred which with notice, lapse of time, or both, would
constitute a violation or default) in the 

 

5

 

performance of any obligation, agreement or condition
contained in the organizational documents of Borrower or in violation or
default of any agreement or instrument to which Borrower is a party or by which
it may be bound or to which any of its property or assets are subject, or any
law, order, rule, regulation, writ, authorization, injunction or decree of any
government, governmental instrumentality or court, domestic or foreign, which
default or violation would have a material adverse effect on Borrower or its
business.

 

3.1.4                        There are no consents or approvals required under
the state or federal law to effect the transactions contemplated by this
Agreement.  No other authorization,
approval, order, exemption or other action of any court or governmental body of
the United States or of any state or other jurisdiction thereof is required to
effect the transactions contemplated by this Agreement.

 

3.1.5                        This Agreement has been duly authorized, executed
and delivered by Borrower and, upon due acceptance by Lender, will constitute
the valid and legally binding obligation of Borrower enforceable in accordance
with its terms against Borrower, subject as to enforcement remedies applicable
to bankruptcy, insolvency, moratorium and other laws affecting the rights of
creditors generally and to equitable principles.

 

3.1.6                        The execution and delivery of this Agreement by
Borrower and the fulfillment of the terms set forth herein do not violate any
statute, regulation or other law of the United States, the State of California
or of any other state or jurisdiction of the United States applicable to
Borrower, or any valid and enforceable order, judgment or decree of any court
or governmental body of the United States, or of any state or other
jurisdiction thereof, which violation would have a material adverse effect on the
business of Borrower.

 

3.1.7                        The execution and delivery of this Agreement by
Borrower and the performance by Borrower of its obligations hereunder do not
conflict with, or result in a breach of, any of the terms or provisions of, or
constitute a default under, the organizational documents of Borrower or any
other agreement or instrument to which Borrower is a party or by which it may
be bound or to which any of its property or assets are subject, or result in
the creation or imposition of any Lien, charge or encumbrance upon any of the
property or assets of Borrower (except for the Liens in favor of Lender granted
under the Security Agreement), except for any breach or default which could not
reasonably be expected to have a material adverse effect on the business of
Borrower.

 

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3.1.8                        Borrower has and will maintain and, upon request,
will provide to Lender copies of, policies of insurance in amounts customarily
carried by similarly situated companies, including but not limited to public
liability, fire and theft, workers compensation, directors and officers
liability and professional liability. 
Borrower agrees that it has, and shall maintain, such policies with
reputable insurers qualified to do business in the State of California.  Copies of all policies and certificates of
insurance required hereby shall be maintained by Borrower and shall be open to
inspection by Lender at all reasonable times. 
In the event Borrower fails to maintain such insurance coverage and such
failure continues for 60 days after Borrower becomes aware thereof, such
failure shall constitute an Event of Default under the provisions of this
Agreement unless waived by Lender.

 

4.                                       DEFAULTS AND REMEDIES.

 

4.1                                 Defaults.

For
the purpose of this Agreement, each of the following events is hereby defined
as and are declared to be an “Event of Default”:

 

4.1.1                        Failure to make due and punctual payment of any part
of the principal amount outstanding and interest accrued thereon on the date
any such payment becomes due for any reason, and the continuance thereof for a
period of five (5) days after receipt of notice thereof from Lender;

 

4.1.2                        Failure of Borrower to comply with the requirements
of Section 6;

 

4.1.3                        Any warranty, representation or other statement of
Borrower contained in this Agreement, the Security Agreement, any Note or the
Strategic Alliance Agreement, or any certification called for by any such
document shall have been false or misleading in any material respect when made;

 

4.1.4                        The occurrence of any of the following with respect
to Borrower (i) a court or governmental agency having jurisdiction in the
premises shall enter a decree or order for relief in respect of Borrower in an
involuntary case under any applicable bankruptcy, insolvency or other similar
law now or hereafter in effect, or appoint a receiver, liquidator, assignee,
custodian, trustee, sequestrator, administrator or similar official of Borrower
or for any substantial part of its Property or ordering the winding up or
liquidation of , or an administrator in respect of, its affairs; or (ii) an

 

7

 

involuntary case under any applicable bankruptcy,
insolvency or other similar law now or hereafter in effect is commenced against
Borrower and such petition remains unstayed and in effect for a period of 60
consecutive days; or (iii) Borrower shall commence a voluntary case under
any applicable bankruptcy, insolvency or other similar law now or hereafter in
effect, or consent to the entry of an order for relief in an involuntary case
under any such law, or consent to the appointment or taking possession by a
receiver, liquidator, assignee, custodian, trustee, sequestrator, administrator
or similar official of such Person or any substantial part of its Property or
make any general assignment for the benefit of creditors; or (iv) Borrower
shall admit in writing its inability to pay its debts as they become due;

 

4.1.6                        Failure to perform or observe any other covenants,
agreements or conditions prescribed in this Agreement, the Security Agreement,
any Note or the Strategic Alliance Agreement and the continuance thereof for a
period of fifteen (15) days after receipt of notice thereof by Borrower from
Lender (unless a shorter notice period is specified for such failure in such
agreement);

 

4.1.7                        Failure of Borrower or any Subsidiary to make any
payment in respect of any Material Debt when due or within any applicable grace
period;

 

4.1.8                        Any event or condition shall occur which results in
the acceleration of the maturity of any Material Debt prior to its stated
maturity; or

 

4.1.9                        Any event or condition shall occur which results in
the acceleration of the maturity of any Material Debt prior to its stated
maturity;

 

4.2                                 Remedies and Rights of Lender.

4.2.1
Upon an Event of Default, as defined in Section 4.1, other than a payment
Event of Default as specified in Section 4.1.1 above, and if such default
continues unremedied for thirty (30) days, Lender may, at its option, terminate
Lender’s obligations hereunder and declare the whole principal amount
outstanding together with interest accrued thereon to become immediately due
and payable, together with any costs, including attorneys’ fees, of collecting
payment.  Upon a payment Event of Default,
as specified above in Section 4.1.1, Lender may at its option, declare the
principal amount outstanding, together with interest accrued thereon, to become
immediately due and payable together with any costs, including attorneys’ fees,
of collecting payment.  The 

 

8

 

provisions of this Agreement shall constitute a
contract between Borrower and Lender and Lender may sue to recover the
outstanding principal amount and interest accrued thereon which has not been
paid according to the terms of this Agreement, together with such costs and
attorneys’ fees as Lender may incur in collecting payment or enforcing the
terms of this Agreement.

 

4.2.2                        Any remedy of Lender as provided herein shall be in
addition to any remedy provided by law or equity and shall be cumulative and
concurrent, and may be pursued singly, successively or together at the sole
discretion of Lender, and may be exercised as often as occasion therefor shall
occur; and the failure to exercise any such remedy shall in no event be
construed as a waiver of the right to exercise the same in the event of any
subsequent default or breach, nor shall it be deemed to be a waiver of its
right subsequently to commence an action.

 

5.                                       SECURITY INTEREST

 

The
obligations of Borrower under this Loan Agreement shall be secured by a first
priority Lien on the Collateral granted to Lender under the Security Agreement.

 

6.                                       NEGATIVE COVENANTS

 

Borrower
hereby covenants and agrees that so long as this Agreement is in effect and
until the Loan, together with interest, fees and other obligations then due and
payable hereunder, have been paid in full:

 

6.1                                 Restricted Payments

Neither
the Borrower nor any of its Subsidiaries will declare or make, or agree to
declare or make, any Restricted Payment.

 

6.2                                 Liens

The
Borrower will not, nor will it permit its Subsidiaries to, contract, create,
incur, assume or permit to exist any Lien with respect to the Collateral, other
than Permitted Liens.

 

7.                                       TERM.

 

The
term of this Agreement shall end on the fifth anniversary of the date of this
Agreement. The termination of this Agreement shall not affect Borrower’s
obligation of repayment pursuant to 

 

9

 

Section 1.5 and, until all outstanding principal,
interest and late fees have been repaid, Lender’s rights under Section 4.

 

8.                                       GENERAL PROVISIONS.

 

8.1                                 Notices.
Any notices, requests and other communications hereunder will be in writing and
will be deemed given on the date of delivery, if delivered personally, by
facsimile transmission, or by overnight courier, or three (3) days after
mailing, if sent by registered or certified United States mail, postage prepaid
and return receipt requested, in each case addressed as follows:

 

	
  To
  the Borrower:

  	
   

  	
  Ciphergen
  Biosystems, Inc.

  
	
   

  	
   

  	
  6611
  Dumbarton Circle

  
	
   

  	
   

  	
  Fremont,
  CA 94555

  
	
   

  	
   

  	
  Attention:
  William E. Rich, CEO

  
	
   

  	
   

  	
  Telephone:
  (510) 493-9300

  
	
   

  	
   

  	
  Facsimile:
  (510) 505-2101

  
	
   

  	
   

  	
   

  
	
  With
  a copy to:

  	
   

  	
  Wilson
  Sonsini Goodrich & Rosati

  
	
   

  	
   

  	
  Professional
  Corporation

  
	
   

  	
   

  	
  650
  Page Mill Road

  
	
   

  	
   

  	
  Palo
  Alto, CA 94304-1050

  
	
   

  	
   

  	
  Attention:
  Michael O’Donnell, Esq.

  
	
   

  	
   

  	
  Telephone:
  (650) 493-9300

  
	
   

  	
   

  	
  Facsimile:  (650) 493-6811

  
	
   

  	
   

  	
   

  
	
  To
  Lender:

  	
   

  	
  Quest
  Diagnostics Incorporated

  
	
   

  	
   

  	
  Treasury
  Department

  
	
   

  	
   

  	
  1290
  Wall Street West

  
	
   

  	
   

  	
  Lyndhurst,
  NJ 07071

  
	
   

  	
   

  	
  Attention:
  Treasurer

  
	
   

  	
   

  	
  Telephone:
  (201) 729-8390

  
	
   

  	
   

  	
  Facsimile:
  (201) 729-8905

  
	
   

  	
   

  	
   

  
	
  With
  a copy to:

  	
   

  	
  Quest
  Diagnostics Incorporated

  
	
   

  	
   

  	
  1290
  Wall Street West

  
	
   

  	
   

  	
  Lyndhurst,
  NJ 07071

  
	
   

  	
   

  	
  Attention:
  General Counsel

  
	
   

  	
   

  	
  Telephone:
  (201) 729-8319

  
	
   

  	
   

  	
  Facsimile:
  (201) 559-2258

  

 

10

 

except
that any of the foregoing may from time to time by written notice to the others
designate another address which will thereupon become its effective address for
the purposes of this section.  Any notice
delivered by facsimile will be confirmed by a written notice delivered in the
mails, by overnight courier or personally; provided that the foregoing
will not affect the time for when such facsimile notice will have been
considered to have been delivered, such delivery being determined as provided
in the first sentence of this Section 8.1.

 

8.2                                 Absolute Obligation.  The
obligations of Borrower to pay the amounts not forgiven hereunder shall be
absolute and unconditional without defense or set-off by reason of any default
by Lender under this Agreement or any other agreement or of any default by
Quest Diagnostics Incorporated or any of its Affiliates under any agreement
between Quest Diagnostics Incorporated or any of such Affiliates and Borrower,
or for any other reason.

 

8.3                                 Incorporation by Reference.  The
provisions contained in Sections 16.2 through 16.18 of the Strategic Alliance
Agreement are incorporated by reference herein except that any references
therein to the Strategic Alliance Agreement will be deemed to be references to
this Agreement and any references therein to the Members will be deemed to be
references to the parties hereto.

 

9.                                       DEFINITIONS

 

As
used in this Agreement, the following terms shall have the meanings herein
specified unless the context otherwise requires.  Defined terms herein shall include in the
singular number the plural and in the plural the singular:

 

“Business
Day” means any day other than a Saturday, a Sunday, a legal holiday or a
day on which banking institutions are authorized or required by law or other
governmental action to close in Lyndhurst, New Jersey and Fremont, California.

 

“Closing
Date” means the date of this Agreement.

 

“Collateral”
has the meaning given to such term in the Security Agreement.

 

“Debt”
of any Person means without duplication (i) all indebtedness for borrowed
money of such person; (ii) all obligations issued, undertaken or assumed
by such Person as the deferred purchase price of property or services (other
than trade payables and accrued expenses); (iii) all unpaid reimbursement
obligations in respect of letters of credit that are not reimbursed within
three 

 

11

 

Business Days (such as, for example, unpaid
reimbursement obligations in respect of a drawing under a letter of credit); (iv) all
obligations of such Person evidenced by notes, bonds (other than bid or
performance bonds), debentures or similar instruments, including obligations so
evidenced incurred in connection with the acquisition of Property or
businesses; (v) all indebtedness of such Person created or arising under
any conditional sale or other title retention agreement, or incurred as
financing, in either case with respect to property acquired by such Person
(even though the rights and remedies of the seller or lender under such
agreement in the event of default are limited to repossession or sale of such
Property (other than operating leases)); (vi) all capital lease
obligations of such Person; (vii) all indebtedness of other persons
referred to in clauses (i) through (vi) above secured by (or for
which the holder of such indebtedness has an existing right, contingent or
otherwise, to be secured by) any Lien upon or in Property (including accounts
and contracts rights) owned by such Person, whether or not such Person has
assumed or become liable for the payment of such indebtedness (provided that the amount of indebtedness shall
be deemed to be limited to the lesser of the fair market value of such Property
and the principal amount outstanding if such Person has not assumed or become
liable for the payment of such indebtedness); (viii) bankers’ acceptances;
and (ix) all guaranty obligations of such Person in respect of
indebtedness or obligations of any other Person of the kinds referred to in
clauses (i) through (viii) above. 
Debt shall not include accounts extended by suppliers in the ordinary
course of business in connection with the purchase of goods and services.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended, and any
successor statute thereto, as interpreted by the rules and regulations
thereunder, all as the same may be in effect from time to time.   References to sections of ERISA shall be
construed also to refer to any successor sections.

 

“GAAP”
means generally accepted accounting principles in the United States applied on
a consistent basis.

 

“Governmental
Authority” means any Federal, state, local, provincial or foreign court or
governmental agency, authority, instrumentality or regulatory body.

 

“Lien”
means any mortgage, pledge, hypothecation, assignment, deposit arrangement,
security interest, encumbrance, lien (statutory or otherwise), preference,
priority or charge of any 

 

12

 

kind, including, without limitation, any agreement
to give any of the foregoing, any conditional sale or other title retention
agreement, and any lease in the nature thereof (other than operating leases).

 

“Material
Debt” means Debt of the Borrower and/or one of more of its Subsidiaries in
an aggregate principal amount equal to or exceeding $5,000,000.

 

“Permitted
Liens” means (i) any Lien in favor of Lender; and (ii) any Liens
against the Collateral existing as of the date hereof and disclosed in writing
to, and approved by, Lender.

 

“Person”
means any individual, partnership, joint venture, firm, corporation, limited
liability company, association, trust or other enterprise (whether or not
incorporated), or any Governmental Authority.

 

“Plan”
shall have the meaning set forth in the Strategic Alliance Agreement between
Lender and Borrower.

 

“Property”
means any right, title or interest in or to any property or asset of any kind
whatsoever, whether real, personal or mixed and whether tangible or intangible.

 

“Restricted
Payment” means (i) any dividend or other distribution (whether in
cash, securities or other property) on any shares of the capital stock of the
Borrower (except dividends or distributions payable solely in shares of its
capital stock), or (ii) any payment (whether in cash, securities or other
property), including any sinking fund or similar deposit, on account of the
purchase, redemption, retirement, defeasance or acquisition of (a) any
shares of the capital stock of the Borrower or any Subsidiary owned by any
Person other than the Borrower or any Subsidiary, or (b) any option,
warrant or other right to acquire shares of the capital stock of the Borrower
or any Subsidiary (but not including (i) payments of principal, premium
(if any) or interest made pursuant to the convertible debt securities prior to
conversion, (ii) any payments of cash in lieu of fractional shares upon
conversion of any convertible security or exercise of any warrant or other
right to acquire shares or upon any stock split or combination, stock dividend
or business combination; (iii) acquisitions of capital stock of Borrower,
in connection with either (A) the exercise of stock options or warrants by
way of cashless exercise, or (B) in connection with the satisfaction of
withholding tax obligations related to the exercise of stock options; (iv) payments
in connection with the repurchase of capital stock of Borrower from any
officer, director, employee or consultant upon the resignation, termination, or
death of such employees, directors, or consultants; and (v) in connection
with any acquisition, (A) acceptance of the return of capital stock of
Company

 

13

 

constituting a portion of the purchase price in
settlement of indemnification claims, or (B)  payments or distributions to
dissenting stockholders pursuant to applicable law).

 

“Security
Agreement” means that certain Patent Security Agreement dated as of the
date hereof between Lender, as secured party, and Borrower, as grantor,
covering the Collateral.

 

“Subsidiary”
means, as to any Person, (a) any corporation more than 50% of whose stock
of any class or classes having by the terms thereof ordinary voting power to
elect a majority of the directors of such corporation (irrespective of whether
or not at the time, any class or classes of such corporation shall have or
might have voting power by reason of the happening of any contingency) is at
the time owned by such Person directly or indirectly through Subsidiaries, and (b) any
partnership, association, joint venture or other entity in which such person
directly or indirectly through Subsidiaries has more than a 50% equity interest
at any time.

 

 

[Remainder of page intentionally
left blank.]

 

14

 

IN
WITNESS WHEREOF, each of the parties hereto have set their hands as of the date
first written above.

 

 

	
  QUEST DIAGNOSTICS INCORPORATED,

  
	
  a
  Delaware corporation

  
	
   

  
	
  By:

  	
   /s/
  Catherine T. Doherty

  	
   

  
	
   

  
	
  Name:

  	
   Catherine
  T. Doherty

  	
   

  
	
   

  
	
  Title:

  	
    Vice
  President, Office of the Chairman

  	
   

  
	
   

  
	
   

  
	
  CIPHERGEN
  BIOSYSTEMS, INC.,

  
	
  a
  Delaware corporation

  
	
   

  
	
  By:

  	
   /s/ William E. Rich

  	
   

  
	
   

  
	
  Name:

  	
    William
  E. Rich

  	
   

  
	
   

  
	
  Title:

  	
   President
  and Chief Executive Officer

  	
   

  
					

 

 

[Signature page to Credit Agreement]

 

15

 

SCHEDULE A

 

PROMISSORY NOTE

 

Fremont,
California

July 22,
2005

 

Ciphergen
Biosystems, Inc., a Delaware corporation (the “Borrower”), for
value received, hereby promises to pay to Quest Diagnostics Incorporated (“Lender”),
to the extent not forgiven under the terms of the Credit Agreement executed as
of the date hereof between Borrower and Lender (the “Credit Agreement”),
the unpaid principal balance up to the Maximum Principal Obligation of ten
million dollars ($10,000,000), and to pay interest (computed on the basis of a
365-day year, or 366 if applicable, actual days elapsed) on the unpaid
principal balance hereof, computed in accordance with the terms of the Credit
Agreement, until the principal amount hereof shall become due and payable; and
to pay interest on any overdue principal and (to the extent permitted by
applicable law) on any overdue payment of interest, at the rate specified in
the Credit Agreement.

 

Payments
of principal and interest shall be made to Lender as specified in the Credit
Agreement.

 

This
Promissory Note is issued pursuant to the Credit Agreement and is entitled to
the benefits thereof.

 

Under
certain circumstances, as specified in the Credit Agreement, the principal of
the Promissory Note may be declared due and payable in the manner and with the
effect provided in said Agreement.

 

All
loans made by Lender to Borrower pursuant to this Promissory Note and all
payments and prepayments on account of principal shall be noted by Lender on
the Schedule attached hereto and made part hereof; provided, however, that
the failure of Lender to make any such notation shall not limit or otherwise
affect the obligation of Borrower hereunder.

 

This
Promissory Note and the Credit Agreement are governed by and construed in
accordance with Delaware law.

 

IN
WITNESS WHEREOF, Borrower has caused this Note to be executed in its name and
on its behalf as of July 22, 2005.

 

	
   

  	
  Ciphergen
  Biosystems, Inc.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
    /s/
  William E. Rich

  	
   

  
	
   

  	
   

  
	
   

  	
  Name:

  	
   William
  E. Rich

  	
   

  
	
   

  	
   

  
	
   

  	
  Title:

  	
   President
  and Chief Executive Officer

  	
   

  
						

 

16

 

SCHEDULE

 

Loans
Made Under the Foregoing Note and Payments and Prepayments on Account of the
Principal Thereof

 

	
  Date

  	
   

  	
  Principal 

  Amount 

  of Loan

  	
   

  	
  Amount 

  Principal 

  Paid

  	
   

  	
  Unpaid 

  Principal 

  Balance

  	
   

  	
  Notation 

  Made By

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

17

 

SCHEDULE B

 

FORGIVENESS MILESTONES

 

Upon
occurrence of each milestone set forth in the table below (each, a “Forgiveness
Milestone”) the corresponding amount shall be forgiven from the Loan amount,
provided however, if the amount then outstanding under the Loan upon occurrence
of such Forgiveness Milestone is less than the amount to be forgiven, then
Quest Diagnostics shall pay such additional amount to Ciphergen in accordance
with Section 10.3 of the Strategic Alliance Agreement within thirty (30)
days of (i) occurrence of such Forgiveness Milestone, if such Forgiveness
Milestone is achieved by a Quest Network member or (ii) receipt of the
Occurrence Notice (as defined below) for such Forgiveness Milestone, if such of
the Forgiveness Milestone is achieved by Ciphergen; provided further that such
additional amount shall be subject to the use restrictions set forth in Section 1.2
(during the Base Term) and the Maximum Principal Obligation hereunder shall be
reduced by such additional amount. 
Without limiting the generality of the foregoing, it is understood that
Lender’s aggregate obligation to loan funds to Borrower under the Credit
Agreement and to pay any additional amounts under this Schedule B by
reason of any Forgiveness Milestone is limited to $10,000,000.  Capitalized terms not defined herein have the
meaning set forth in the Strategic Alliance Agreement.

 

	
  Forgiveness Milestone

  	
   

  	
  Amount of Loan to be Forgiven

  
	
  Upon completion of all
  validation, regulatory communication and medically acceptable accuracy for
  the applicable Application which allows the each of the first three (3) Licensed
  Laboratory Test to be commercialized, but no later than the first
  Commercialization of each such Licensed Laboratory Test by any Quest Network
  member.

  	
   

  	
  $1,000,000 for each Licensed Laboratory Test, for a
  possible total forgiveness of $3,000,000

  
	
   

  	
   

  	
   

  
	
  Upon FDA clearance of
  the first Test Kit, but no later than the first Commercialization of the
  first Test Kit by either Ciphergen or any Quest Network member.

  	
   

  	
  $3,000,000 for the first Test Kit

  
	
   

  	
   

  	
   

  
	
  Upon FDA clearance of
  each of the following two (2) Test Kits, but no later than the first
  Commercialization of each such Test Kit by either Ciphergen or any Quest
  Network member

  	
   

  	
  $2,000,000 for each Test Kit, for a possible total
  forgiveness of $4,000,000

  
	
   

  	
   

  	
   

  
	
  Total Potential Forgiveness:

  	
   

  	
  $10,000,000

  

 

Upon
occurrence of a Forgiveness Milestone the Party achieving such milestone shall
promptly notify the other Party hereto in writing (each, an “Occurrence Notice”).  In the case of Ciphergen, such Occurrence
Notice shall include reasonable documentation substantiating the occurrence of the
Forgiveness Milestone.

 

18EXHIBIT 10.48

 

PATENT
SECURITY AGREEMENT

 

THIS PATENT SECURITY AGREEMENT (this “Agreement”),
dated as of July 22, 2005, is made between Ciphergen Biosystems, Inc.,
a Delaware corporation (“Grantor”), and Quest Diagnostics Incorporated, a
Delaware corporation (“Secured Party”).

 

Grantor and Secured Party hereby agree as follows:

 

SECTION 1            Definitions; Interpretation.

 

(a)           Terms
Defined in Credit Agreement.  All
capitalized terms used in this Agreement and not otherwise defined herein shall
have the meanings assigned to them in the Credit Agreement or the Strategic
Alliance Agreement, as applicable.

 

(b)           Certain
Defined Terms.  As used in this Agreement,
the following terms shall have the following meanings:

 

“Collateral” has the meaning set forth in Section 2.

 

“Credit Agreement” means that certain Credit
Agreement dated as of the date hereof between Grantor, as borrower, and Secured
Party, as lender, as amended, modified, renewed, extended or replaced from time
to time.

 

“Documents” means this Agreement, the Credit
Agreement, the Notes, and all other certificates, documents, agreements and
instruments delivered to Secured Party under the Credit Agreement.

 

“Event of Default” has the meaning set forth in
Section 9.

 

“Lien” means any mortgage, deed of trust, pledge,
security interest, assignment, deposit arrangement, charge or encumbrance,
lien, or other type of preferential arrangement.

 

“Notes” means those certain promissory notes
entered into from time to time by Grantor, as maker, in favor of Secured Party,
as payee, under and in accordance with the terms of the Credit Agreement, each
as amended, modified, renewed, extended or replaced from time to time.

 

“Obligations” means the indebtedness,
liabilities and other obligations of Grantor to Secured Party under or in
connection with this Agreement, the Credit Agreement, and the other Documents,
including, without limitation, all unpaid principal of the Notes, all interest
accrued thereon, all fees and all other amounts payable by Grantor to Secured
Party thereunder or in connection therewith, whether now existing or hereafter
arising, and whether due or to become due, absolute or contingent, liquidated
or unliquidated, determined or undetermined, and including interest that
accrues after the commencement by or against Grantor of any bankruptcy or
insolvency proceeding naming such Person as the debtor in such proceeding.  For clarity, the term “Obligations” shall not
include any liabilities or other obligations under the Strategic Alliance
Agreement, the Stock Purchase Agreement, 

 

 

the Observer Rights
Agreement, or any Supply Agreement or technology escrow agreement entered into
in accordance with Article 9 of the Strategic Alliance Agreement.

 

“Person” means an individual, corporation,
partnership, joint venture, trust, unincorporated organization, governmental
agency or authority, or any other entity of whatever nature.

 

“PTO” means the United States Patent and
Trademark Office.

 

“Strategic Alliance Agreement” means that
certain Strategic Alliance Agreement effective of even date herewith between
Grantor and Secured Party, as amended from time to time.

 

“UCC” means the Uniform Commercial Code as the
same may, from time to time, be in effect in the State of California.

 

(c)           Terms
Defined in UCC.  Where
applicable and except as otherwise defined herein, terms used in this Agreement
shall have the meanings assigned to them in the UCC.

 

(d)           Interpretation. 
In this Agreement, (i) the meaning of defined terms shall be
equally applicable to both the singular and plural forms of the terms defined;
and (ii) the captions and headings are for convenience of reference only
and shall not affect the construction of this Agreement.

 

SECTION 2            Security Interest.

 

(a)           Grant
of Security Interest.  As security
for the payment and performance of the Obligations, Grantor hereby assigns,
transfers and conveys to Secured Party, and grants a security interest in and
mortgage to Secured Party, all of Grantor’s right, title and interest in, to
and under the following property, in each case whether now or hereafter
existing or arising or in which Grantor now has or hereafter owns, acquires or
develops an interest and wherever located (collectively, the “Collateral”):

 

(i)            all Biomarker Patents claiming Biomarkers that are (i) expected
to be used in the Licensed Laboratory Test, Test Kit or Propriety Supplies that
are the subject of the related Development Program, domestic or foreign, owned
by Grantor (solely or jointly with others) or (ii) otherwise directed to
the Applications described on Schedule B, including those Biomarker
Patents described in Schedule B, as may be modified from time to
time as described in Sections 2(c), 5(k) or 5(l) below (the “Secured Patent
Rights”), together with all rights to sue for past, present or future
infringement thereof, all rights arising therefrom and pertaining thereto and
all reissues, divisions, continuations, renewals, extensions and
continuations-in-part of such thereof;

 

(ii)           all commercial tort claims associated with or arising
out of the properties and assets described in this Section 2(a);

 

(iii)          all accounts, all intangible intellectual or other
similar property and other general intangibles associated with or arising out
of any of the properties and assets described in this Section 2(a) and
not otherwise described above, including all license payments and payments
under insurance (whether or not Secured Party is the loss payee thereof) or any
indemnity, warranty or guaranty payable by reason of loss or damage to or
otherwise with respect to any of the properties and assets described in this Section 2(a);
and

 

2

 

(iv)          all products, proceeds and supporting obligations of
or with respect to any and all of the properties and assets described in this Section 2(a).

 

(b)           Continuing
Security Interest.  Grantor
agrees that this Agreement shall create a continuing security interest in the
Collateral which shall remain in effect until terminated in accordance with Section 14.

 

(c)           Substitution
of Collateral.  Provided no Event of
Default has occurred and is continuing, Grantor may from time to time propose
the substitution of certain of the Secured Patent Rights within the Collateral
with other Biomarker Patents (the “Substitute Patent Rights”) in
accordance with the terms of this Section 2(c) below.  In such event, Grantor shall provide written
notice to Secured Party referencing this Section 2(c), which notice
shall:  (i) identify the Secured
Patent Rights to be substituted, (ii) identify in reasonable detail the
proposed Substitute Patent Rights, together with a copy of the corresponding
issued patent(s) or patent application(s) (which in the case of non-published
patent applications shall be deemed to be the Confidential Information of
Grantor), (iii) provide a valuation calculation for the proposed
Substitute Patent Rights, calculated in the same manner as was used in
determining the valuation of the Secured Patent Rights as of the Effective Date
(as shared between the parties), which valuation calculation shows a dollar
value for the proposed Substitute Patent Rights greater than the dollar value
for the Secured Patent Rights to be substituted.   Secured Party shall have twenty (20)
business days to notify Grantor of its acceptance or rejection of the proposed
Subsitute Patent Rights.  Secured Party
may reject the proposed Secured Patent Rights by written notice to Grantor if
Secured Party in its reasonable judgment determines that (x) the dollar value
of the proposed Substitute Patent Rights identified in the value calculation is
less than the dollar value of the Secured Patent Rights to be substituted, or
(y) the proposed Substitute Patent Rights do not constitute reasonably
equivalent collateral for any other reason. 
If Secured Party does not accept the proposal within such twenty (20)
day period, then such proposal shall be deemed rejected. If Secured Party
accepts such proposal, Secured Party hereby agrees to modify, amend, and
supplement Schedule B to (A) remove the Secured Patent Rights
described in the applicable notice as required in clause (i) above (B) include
the Substitute Patent Rights described in such notice as required in clause (ii) above
and (C) release the Lien with respect to the such Secured Patent Rights so
removed.  Notwithstanding the foregoing
provisions of this Section 2(c) and for clarity, Grantor may not
substitute any Secured Patent Rights that are Biomarker Patents claiming
Biomarkers used in or expected to be used in any Licensed Laboratory Test, Test
Kit or Proprietary Supplies that are subject of a Development Program without
the prior written consent of Secured Party, which consent may be withheld at
the sole discretion of Secured Party.

 

(d)           Additional
Collateral.  In the event that Grantor fails to timely
meet any development milestone specified in the applicable Development Program
under the Strategic Alliance Agreement and, at the time of such failure, the total
value of the Collateral (calculated in the same manner as was used in
determining the valuation of the Secured Patent Rights as of the Effective Date
(as shared between the parties)) equals less than 150% of the total principal
and interest then outstanding under the Credit Agreement (the “Minimum
Collateral Value”), then Secured Party shall have the right to require Grantor
to include additional Biomarker Patents (reasonably acceptable to Secured
Party) within the Collateral under this Agreement in accordance with the terms
of this Section 2(d) such that the total value of the existing
Collateral and such additional Collateral meets the Minimum Collateral
Value.  In such event, Secured Party
shall provide Grantor written notice referencing this Section 2(d) together
with a third party valuation calculation of the then-existing Collateral and a
statement of the shortfall in Collateral value from the Minimum Collateral
Value.  No 

 

3

 

later than thirty (30) days after
receipt of such written request for such additional Collateral, Grantor shall
take all actions reasonably necessary to include such additional Collateral
under this Agreement and subject the same to the liens in favor of Secured
Party as provided hereunder.

 

SECTION 3            Financing Statements, Etc. 
Grantor shall execute and deliver to Secured Party concurrently with the
execution of this Agreement, and Grantor hereby authorizes Secured Party to
file (with or without Grantor’s signature), at any time and from time to time
thereafter, all financing statements, assignments of financing statements,
continuation financing statements, termination statements and other documents
and instruments, in form reasonably satisfactory to Secured Party, and take all
other action, as Secured Party may reasonably request, to perfect and continue
perfected, maintain the priority of or provide notice of the security interest
of Secured Party in the Collateral and to accomplish the purposes of this
Agreement.  Without limiting the
generality of the foregoing, Grantor ratifies and authorizes the filing by
Secured Party of any financing statements filed prior to the date hereof.

 

SECTION 4            Representations and Warranties. 
Grantor represents and warrants to Secured
Party that:

 

(a)           Grantor is duly organized, validly existing and in
good standing under the law of the jurisdiction of its organization and has all
requisite power and authority to execute, deliver and perform its obligations
under this Agreement.

 

(b)           The execution, delivery and performance by Grantor of
this Agreement have been duly authorized by all necessary action of Grantor,
and this Agreement constitutes the legal, valid and binding obligation of
Grantor, enforceable against Grantor in accordance with its terms.

 

(c)           No authorization, consent, approval, license,
exemption of, or filing or registration with, any governmental authority or
agency, or approval or consent of any other Person, is required for the due
execution, delivery or performance by Grantor of this Agreement, except for any
filings necessary to perfect any Liens on any Collateral.

 

(d)           Grantor’s chief executive office and principal place
of business (as of the date of this Agreement) is located at the address set
forth in Schedule A; and Grantor’s exact legal name is as set forth
in the first paragraph of this Agreement.

 

(e)           Grantor has rights in or the power to transfer the
Collateral and Grantor is the sole and complete owner, joint owner or exclusive
licensor of the Collateral, free from any Lien other than Permitted Liens.

 

(f)            A true
and correct list of all of the existing Collateral consisting of U.S. patents and
patent applications and/or registrations owned or licensed by Grantor, in whole
or in part, directed to Biomarkers that are expected to be used in any Licensed
Laboratory Test or Test Kit involving the Applications is set forth in Schedule B.

 

SECTION 5            Covenants.  So long as
any of the Obligations remain unsatisfied, Grantor agrees, except as otherwise
permitted in the Strategic Alliance Agreement, that:

 

(a)           Grantor shall appear in and defend any action, suit or
proceeding which may affect to a material extent its title to, or right or
interest in, or Secured Party’s right or interest in, the 

 

4

 

Collateral, and shall do and perform
all commercially reasonable acts that may be necessary and appropriate to
maintain, preserve and protect the Collateral.

 

(b)           Grantor shall comply in all material respects with all
laws, regulations and ordinances, and all policies of insurance, relating in a
material way to the possession, operation, maintenance and control of the
Collateral.

 

(c)           Grantor shall give prompt written notice to Secured
Party (and in any event not later than 30 days following any change described
below in this subsection) of:  (i) any
change in the location of Grantor’s chief executive office or principal place
of business; (ii) any change in its name; (iii) any changes in its
identity or structure in any manner which might make any financing statement
filed hereunder incorrect or misleading; (iv) any change in its
registration as an organization (or any new such registration); or (v) any
change in its jurisdiction of organization; provided that Grantor shall
not change its jurisdiction of organization to a jurisdiction outside of the
United States.

 

(d)           Grantor shall keep separate, accurate and complete
books and records with respect to the Collateral, disclosing Secured Party’s
security interest hereunder.

 

(e)           Grantor shall keep the Collateral free of all Liens,
except Permitted Liens.

 

(f)            Grantor shall pay and discharge all taxes, fees,
assessments and governmental charges or levies imposed upon it with respect to
the Collateral prior to the date on which penalties attach thereto, except to
the extent such taxes, fees, assessments or governmental charges or levies are
being contested in good faith by appropriate proceedings.

 

(g)           Grantor shall maintain and preserve its legal
existence, its rights to transact business and all other rights, franchises and
privileges necessary or desirable in the normal course of its business and
operations and the ownership of the Collateral, except in connection with any
transactions expressly permitted by the Credit Agreement.

 

(h)           Grantor shall at any reasonable time and from time to
time permit Secured Party to visit the Premises of Grantor and inspect the
Collateral and to examine and make copies of and abstracts from the records and
books of account of Grantor related to the Collateral.

 

(i)            Grantor shall (i) notify Secured Party of any
material claim made or asserted against the Grantor or the Collateral by any Person
and of any other event which could materially adversely affect the value of the
Collateral or Secured Party’s Lien thereon; (ii) furnish to Secured Party
such information in connection with the Collateral as Secured Party may
reasonably request, all in reasonable detail; and (iii) upon reasonable
request of Secured Party make such demands and requests for information and
reports as Grantor is entitled to make in respect of the Collateral.

 

(j)            At such time as Secured Party makes a Development
Election with respect to a Plan, Grantor (i) shall promptly notify Secured
Party thereof of all Biomarker Patents claiming Biomarkers that are expected to
be used in the Licensed Laboratory Test, Test Kit or Propriety Supplies that
are the subject of the related Development Program and (ii) hereby
authorizes Secured Party to modify, amend, or supplement Schedule B
from time to time to include any such Biomarker Patents and make all necessary
or appropriate filings as provided in this Agreement with respect thereto. To
the extent that a Development Election is made with respect to an Application
other than an Application for which Biomarker Patents claiming Biomarkers
directed to such Application are listed in Schedule B, 

 

5

 

then at the time that Schedule B
is modified, amended or supplement to include the Biomarker Patents claiming
Biomarkers that are expected to be used in any Licensed Laboratory Test, Test
Kit or Proprietary Supplies that are the subject of the related Development
Program as provided in this Section 5(j) above, upon written request of
Grantor, the Secured Party shall release the Lien with respect to all Biomarker
Patents claiming Biomarkers for one Application then listed in Schedule B
and designated by Grantor in such request that is not subject of a Development
Election.

 

(k)           If and when Grantor shall obtain rights to any new
Biomarker Patents claiming Biomarkers used in or expected to be used in any
Licensed Laboratory Test, Test Kit or Proprietary Supplies that are subject of
a Development Program or otherwise acquire of become entitled to the benefit
of, or apply for registration of, any of the foregoing, in each case that would
constitute Collateral, Grantor (i) shall promptly notify Secured Party
thereof and (ii) hereby authorizes Secured Party to modify, amend, or
supplement Schedule B from time to time to include any of the
foregoing Biomarker Patents and make all necessary or appropriate filings as
provided in this Agreement with respect thereto.  Without limiting Grantor’s obligations under Section 5(j)
or this Section 5(k), Grantor authorizes Secured Party to modify this
Agreement by amending Schedule B to include any such new Biomarker
Patents as expressly provided herein. 
Notwithstanding the foregoing, no failure to so modify this Agreement or
amend Schedule B shall in any way affect, invalidate or detract
from Secured Party’s continuing security interest in all Collateral, whether or
not listed on Schedule B, subject to the second to last sentence of
Section 2(c) and the last sentence of Section 5(j).

 

(l)            Nothing contained herein shall prohibit Grantor from
entering into any agreement in the ordinary course of business (including any
license or royalty agreement with any third party) pertaining to any of its
patents in a manner that would not violate the terms of the Strategic Alliance
Agreement.  Notwithstanding any provision
to the contrary contained herein, in the Credit Agreement or in the Strategic
Alliance Agreement, in no event shall Grantor abandon any patent or patent
application (or fail to prosecute any patent application) constituting
Collateral without the prior written consent of Secured Party.

 

SECTION 6            Further Acts.  On a
continuing basis, Grantor shall make, execute, acknowledge and deliver, and
file and record in the proper filing and recording places, all such instruments
and documents, and take all such action as may be reasonably requested by
Secured Party to perfect the security interest granted hereby or purported to be
granted hereby or to enable Secured Party to exercise and enforce its rights
and remedies hereunder with respect to the Collateral, including any documents
for filing with the PTO and/or any applicable state office.  Secured Party may record this Agreement, an
abstract thereof, or any other document describing Secured Party’s interest in
the Collateral with the PTO, at the expense of Grantor.

 

SECTION 7            [Reserved]

 

SECTION 8            Authorization; Secured Party Appointed
Attorney-in-Fact.  Secured Party shall have the right to, in the
name of Grantor, or in the name of Secured Party or otherwise, upon notice to
but without the requirement of assent by Grantor, and Grantor hereby
constitutes and appoints Secured Party (and any of Secured Party’s officers,
employees or agents designated by Secured Party) as Grantor’s true and lawful
attorney-in-fact, with full power and authority to: (i) sign and file any
of the financing statements and other documents and instruments which must be
executed or filed to perfect or continue perfected, maintain the priority of or
provide notice of Secured Party’s security interest in the Collateral; and (ii) execute
any and all such other documents and instruments, and do any and all acts and
things for and on behalf of Grantor, which Secured Party may deem 

 

6

 

reasonably necessary or advisable to
maintain, protect, realize upon and preserve the Collateral and Secured Party’s
security interest therein and to accomplish the purposes of this Agreement.  Secured Party agrees that, except upon and
during the continuance of an Event of Default, it shall not exercise the power
of attorney, or any rights granted to Secured Party, pursuant to
clause (ii).  The foregoing power of
attorney is coupled with an interest and irrevocable so long as the Obligations
have not been paid and performed in full. 
Grantor hereby ratifies, to the extent permitted by law, all that
Secured Party shall lawfully and in good faith do or cause to be done by virtue
of and in compliance with this Section 8.

 

SECTION 9            Events of Default.  Any of the
following events which shall occur and be continuing shall constitute an “Event
of Default”:

 

(a)           An Event of Default shall occur and be continuing
under the Credit Agreement.

 

(b)           Grantor shall (i) liquidate, wind up or dissolve
(or suffer any liquidation, wind-up or dissolution), except to the extent
expressly permitted by the Credit Agreement, (ii) suspend its operations
other than in the ordinary course of business, or (iii) take any action to
authorize any of the actions or events set forth above in this subsection (b).

 

(c)           Any material impairment in the validity or priority of
Secured Party’s Lien hereunder.

 

(d)           Any levy upon, seizure or attachment of any of the
Collateral which shall not have been rescinded or withdrawn within thirty (30)
days of such event.

 

SECTION 10          Remedies.

 

(a)           Upon the occurrence and continuance of any Event of
Default, Secured Party may declare any of the Obligations to be immediately due
and payable and shall have, in addition to all other rights and remedies
granted to it in this Agreement, the Credit Agreement or any other Document,
all rights and remedies of a secured party under the UCC and other applicable
laws.  Without limiting the generality of
the foregoing, (i) Secured Party may secure the appointment of a receiver
of the Collateral or any part thereof (to the extent and in the manner provided
by applicable law); (ii) Secured Party may sell, resell, lease, use,
assign, license, sublicense, transfer or otherwise dispose of any or all of the
Collateral in its then condition or following any commercially reasonable
preparation or processing (utilizing in connection therewith any of Grantor’s
assets, without charge or liability to Secured Party therefor) at public or
private sale, by one or more contracts, at the same or different times, for
cash or credit, or for future delivery without assumption of any credit risk,
all as Secured Party deems advisable; provided, however, that
Grantor shall be credited with the net proceeds of sale only when such proceeds
are finally collected by Secured Party. 
Secured Party shall have the right upon any such public sale, and, to
the extent permitted by law, upon any such private sale, to purchase the whole
or any part of the Collateral so sold, free of any right or equity of
redemption, which right or equity of redemption Grantor hereby releases, to the
extent permitted by law.  Secured Party
shall give Grantor such notice of any private or public sales as may be
required by the UCC or other applicable law.

 

(b)           Solely for the purpose of enabling Secured Party to
exercise its rights and remedies under this Section 10 or otherwise in
connection with this Agreement, Grantor hereby grants to Secured Party an
irrevocable, non-exclusive and assignable license (exercisable without payment
or 

 

7

 

royalty or other compensation to
Grantor) to use, license or sublicense any intellectual property Collateral.

 

(c)           Secured Party has no obligation to attempt to satisfy
the Obligations by collecting them from any other Person liable for them and
Secured Party may release, modify or waive any Collateral provided by any other
Person to secure any of the Obligations, all without affecting Secured Party’s
rights against Grantor.  Grantor waives
any right it may have to require Secured Party to pursue any third Person for
any of the Obligations.  Secured Party
may comply with any applicable state or federal law requirements in connection
with a disposition of the Collateral and compliance will not be considered
adversely to affect the commercial reasonableness of any sale of the
Collateral.  Secured Party may sell the
Collateral without giving any warranties as to the Collateral.  Secured Party may specifically disclaim any
warranties of title or the like.  This
procedure will not be considered adversely to affect the commercial
reasonableness of any sale of the Collateral. 
If Secured Party sells any of the Collateral upon credit, Grantor will
be credited only with payments actually made by the purchaser, received by
Secured Party and applied to the indebtedness of the purchaser.  In the event the purchaser fails to pay for
the Collateral, Secured Party may resell the Collateral and Grantor shall be
credited with the proceeds of the sale.

 

(d)           The cash proceeds actually received from the sale or
other disposition or collection of Collateral, and any other amounts received
in respect of the Collateral the application of which is not otherwise provided
for herein, shall be applied first, to the payment of the reasonable
costs and expenses of Secured Party in exercising or enforcing its rights
hereunder and in collecting or attempting to collect any of the Collateral, and
to the payment of all other amounts payable to Secured Party pursuant to Section 14
hereof; and second, to the payment of the Obligations.  Any surplus thereof which exists after
payment and performance in full of the Obligations shall be promptly paid over
to Grantor or otherwise disposed of in accordance with the UCC or other
applicable law.  Grantor shall remain
liable to Secured Party for any deficiency which exists after any sale or other
disposition or collection of Collateral.

 

SECTION 11          Certain Waivers.  Grantor
waives, to the fullest extent permitted by law, (i) any right of
redemption with respect to the Collateral, whether before or after sale
hereunder, and all rights, if any, of marshalling of the Collateral or other
collateral or security for the Obligations; (ii) any right to require
Secured Party (A) to proceed against any Person, (B) to exhaust any
other collateral or security for any of the Obligations, (C) to pursue any
remedy in Secured Party’s power, or (D) to make or give any presentments,
demands for performance, notices of nonperformance, protests, notices of
protests or notices of dishonor in connection with any of the Collateral; and (iii) all
claims, damages, and demands against Secured Party arising out of the
repossession, retention, sale or application of the proceeds of any sale of the
Collateral.

 

SECTION 12          Binding Effect.  This
Agreement shall be binding upon, inure to the benefit of and be enforceable by
Grantor, Secured Party and their respective successors and assigns as permitted
under the Strategic Alliance Agreement and shall bind any Person who becomes
bound as a debtor to this Agreement. 
Grantor may not assign, transfer, hypothecate or otherwise convey its
rights, benefits, obligations or duties hereunder except as specifically
permitted by the Credit Agreement or the Strategic Alliance Agreement.  Any such purported assignment, transfer,
hypothecation or other conveyance by Grantor not so permitted shall be void.

 

8

 

SECTION 13          Notices.  All notices
or other communications hereunder shall be in writing (including by facsimile
transmission or by email) and delivered in accordance with the terms of the
Strategic Alliance Agreement.

 

SECTION 14          Costs and Expenses.

 

(a)           Grantor agrees to pay on demand all reasonable costs
and expenses of Secured Party, and the fees and disbursements of counsel, in
connection with the enforcement or attempted enforcement of, and preservation
of any rights or interests under, this Agreement, the Credit Agreement and the
Notes, including in any out-of-court workout or other refinancing or
restructuring or in any bankruptcy case, and the protection, sale or collection
of, or other realization upon, any of the Collateral, including all expenses of
sales and collections of Collateral.

 

(b)           Any amounts payable to Secured Party under this Section 14
or otherwise under this Agreement if not paid upon demand shall bear interest
from the date of such demand until paid in full, at the default rate of
interest set forth in the Credit Agreement or any Note.

 

SECTION 15          [Reserved]

 

SECTION 16          Governing Law.  This
Agreement shall be governed by, and construed in accordance with, the law of
the State of Delaware, except as required by mandatory provisions of law and to
the extent the validity or perfection of the security interests hereunder, or
the remedies hereunder, in respect of any Collateral are governed by the law of
a jurisdiction other than Delaware.

 

SECTION 17          Amendment; Conflict. 
This Agreement is subject to modification only by a writing signed by
the parties, except as provided herein. 
To the extent that any provision of this Agreement conflicts with any
provision of the Credit Agreement, the provision giving Secured Party greater rights or remedies shall govern, it being
understood that the purpose of this Agreement is to add to, and not detract
from, the rights granted to Secured Party
under the Credit Agreement.

 

SECTION 18          Counterparts.  This
Agreement may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed shall be deemed
to be an original and all of which taken together shall constitute but one and
the same agreement.

 

SECTION 19          Termination.  Upon payment
and performance in full of all Obligations, the security interests created by
this Agreement shall terminate and Secured Party shall promptly execute and
deliver to Grantor such documents and instruments reasonably requested by
Grantor as shall be necessary to evidence termination of all such security
interests given by Grantor to Secured Party hereunder, including cancellation
of this Agreement by written notice from Secured Party to the PTO.

 

SECTION 20          Conflicts.  In the event
of any conflict or inconsistency between this Agreement and the Credit
Agreement, the terms of this Agreement shall control.

 

 

[Remainder of page intentionally left blank.]

 

9

 

IN WITNESS WHEREOF, the parties hereto have duly
executed this Agreement, as of the date first above written.

 

	
   

  	
  Grantor

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  CIPHERGEN
  BIOSYSTEMS, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ William E.
  Rich

  	
   

  
	
   

  	
  Name: 

  	
  William E. Rich 

  	
   

  
	
   

  	
  Title: 

  	
  President and
  Chief Executive Officer

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Secured Party

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  QUEST
  DIAGNOSTICS INCORPORATED

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ Catherine T.
  Doherty

  	
   

  
	
   

  	
  Name: 

  	
  Catherine T.
  Doherty 

  	
   

  
	
   

  	
  Title: 

  	
  Vice President,
  Office of the Chairman

  	
   

  
								

 

 

[Signature page to Patent Security Agreement]

 

10

 

SCHEDULE A

to the Patent Security Agreement

 

1.             Chief
Executive Office and Principal Place of Business:

 

6611 Dumbarton Circle

Fremont, California 94555

 

 

A-1

 

SCHEDULE B

to the Patent Security Agreement

 

Applications as of the Effective Date:  (i) Ovarian Cancer, (ii) Breast
Cancer, (iii) Liver Cancer, (iv) Prostate Cancer and (v) Alzheimer’s
Disease.

 

	
   

  	
   

  	
  Ciphergen
  File

  No.

  	
   

  	
  Ctry

  	
   

  	
  Genealogy

  	
   

  	
  Serial
  No.

  	
   

  	
  Filing
  Date

  	
   

  	
  Inventors

  	
   

  	
  Status/Expected

  Actions

  	
   

  	
  Ownership

  	
   

  
	
   

  	
   

  
	
  Application:
  OVARIAN CANCER

  	
   

  
	
   

  	
   

  
	
  1

  	
   

  	
  USE OF
  BIOMARKERS FOR DETECTING OVARIAN CANCER

  	
   

  	
  2002

  	
   

  	
  Chan
  et al.

  	
   

  	
   

  	
   

  	
  Johns
  Hopkins University and Ciphergen Biosystems

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  71699-58368 P
  (E&A)

  	
   

  	
  US

  	
   

  	
  ORIGINAL FILING

  	
   

  	
  60/401,837

  	
   

  	
  Aug 06, 2002

  	
   

  	
  Daniel W. CHAN

  	
   

  	
  EXPIRED

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  71699-58368 P2
  (E&A)

  	
   

  	
  US

  	
   

  	
  Related to
  60/401,837

  	
   

  	
  60/441,727

  	
   

  	
  Jan 21, 2003

  	
   

  	
  Daniel W. CHAN, Zhen
  ZHANG, and Eric T. FUNG

  	
   

  	
  EXPIRED

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  71699-58368 P3
  (E&A)

  	
   

  	
  US

  	
   

  	
  Related to
  60/401,837 and 60/441,727

  	
   

  	
  60/460,342

  	
   

  	
  Apr 04, 2003

  	
   

  	
  Daniel W. CHAN, Zhen
  ZHANG, and Eric T. FUNG

  	
   

  	
  EXPIRED

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  71699-58368 PC
  (E&A)

  	
   

  	
  WO

  	
   

  	
  Based on
  60/401,837, 60/441,727, and 60/460,342

  	
   

  	
  PCT/US2003/ 24659

  	
   

  	
  Aug 05, 2003

  	
   

  	
  Daniel W. CHAN, Zhen
  ZHANG, Eric T. FUNG, and Xiao-Ying MENG

  	
   

  	
  NATIONAL PHASE

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  71699-58368 PC-2
  (E&A)

  	
   

  	
  WO

  	
   

  	
  Based on
  60/401,837, 60/441,727, and 60/460,342

  	
   

  	
  PCT/US2003/ 24636

  	
   

  	
  Aug 06, 2003

  	
   

  	
  Daniel W. CHAN, Zhen
  ZHANG, Eric T. FUNG, and Xiao-Ying MENG

  	
   

  	
  ABANDONED

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  71699-58368 AU
  (E&A)

  	
   

  	
  AU

  	
   

  	
  Based on
  PCT/US2003/ 024659

  	
   

  	
  2003256858

  	
   

  	
  Aug 05, 2003

  	
   

  	
  Daniel W. CHAN, Zhen
  ZHANG, Eric T. FUNG, and Xiao-Ying MENG

  	
   

  	
  PENDING

  	
   

  	
   

  	
   

  

 

B-1

 

	
   

  	
   

  	
  Ciphergen
  File

  No.

  	
   

  	
  Ctry

  	
   

  	
  Genealogy

  	
   

  	
  Serial
  No.

  	
   

  	
  Filing
  Date

  	
   

  	
  Inventors

  	
   

  	
  Status/Expected

  Actions

  	
   

  	
  Ownership

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  71699-58368 CA
  (E&A)

  	
   

  	
  CA

  	
   

  	
  Based on
  PCT/US2003/ 024659

  	
   

  	
   

  	
   

  	
  Jan 27, 2005

  	
   

  	
  Daniel W. CHAN, Zhen
  ZHANG, Eric T. FUNG, and Xiao-Ying MENG

  	
   

  	
  PENDING

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  71699-58368 CN
  (E&A)

  	
   

  	
  CN

  	
   

  	
  Based on
  PCT/US2003/ 024659

  	
   

  	
   

  	
   

  	
  Aug 05, 2003

  	
   

  	
  Daniel W. CHAN, Zhen
  ZHANG, Eric T. FUNG, and Xiao-Ying MENG

  	
   

  	
  PENDING

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  71699-58368 EP
  (E&A)

  	
   

  	
  EP

  	
   

  	
  Based on
  PCT/US2003/ 024659

  	
   

  	
  03767259.9

  	
   

  	
  Aug 05, 2003

  	
   

  	
  Daniel W. CHAN, Zhen
  ZHANG, Eric T. FUNG, and Xiao-Ying MENG

  	
   

  	
  PENDING

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  71699-58368 EP-2
  (E&A)

  	
   

  	
  EP

  	
   

  	
  Based on
  PCT/US2003/ 24636 (PC-2)

  	
   

  	
  03767254.0

  	
   

  	
  Aug 06, 2003

  	
   

  	
  Daniel W. CHAN, Zhen
  ZHANG, Eric T. FUNG, and Xiao-Ying MENG

  	
   

  	
  ABANDONED

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  71699-58368 IL
  (E&A)

  	
   

  	
  IL

  	
   

  	
  Based on
  PCT/US2003/ 024659

  	
   

  	
  166118

  	
   

  	
  Aug 05, 2003

  	
   

  	
  Daniel W. CHAN, Zhen
  ZHANG, Eric T. FUNG, and Xiao-Ying MENG

  	
   

  	
  PENDING

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  71699-58368 JP
  (E&A)

  	
   

  	
  JP

  	
   

  	
  Based on
  PCT/US2003/ 024659

  	
   

  	
   

  	
   

  	
  Aug 05, 2003

  	
   

  	
  Daniel W. CHAN, Zhen
  ZHANG, Eric T. FUNG, and Xiao-Ying MENG

  	
   

  	
  PENDING

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  71699-58368 KR
  (E&A)

  	
   

  	
  KR

  	
   

  	
  Based on
  PCT/US2003/ 24659

  	
   

  	
  10-2005-7001536

  	
   

  	
  Jan 27, 2005

  	
   

  	
  Daniel W. CHAN, Zhen
  ZHANG, Eric T. FUNG, and Xiao-Ying MENG

  	
   

  	
  PENDING

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  71699-58368 NZ
  (E&A)

  	
   

  	
  NZ

  	
   

  	
  Based on
  PCT/US2003/ 024659

  	
   

  	
  538236

  	
   

  	
  Aug 05, 2003

  	
   

  	
  Daniel W. CHAN, Zhen
  ZHANG, Eric T. FUNG, and Xiao-Ying MENG

  	
   

  	
  PENDING

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  71699-58368 US
  (E&A)

  	
   

  	
  US

  	
   

  	
  Based on
  60/401,837, 60/441,727, and 60/460,342

  	
   

  	
  10/635,308

  	
   

  	
  Aug 05, 2003

  	
   

  	
  Daniel W. CHAN, Zhen
  ZHANG, Eric T. FUNG, and Xiao-Ying MENG

  	
   

  	
  PENDING

  	
   

  	
   

  	
   

  

 

B-2

 

 

	
  2

  	
   

  	
  USE OF
  BIOMARKERS FOR THE DETECTION OF OVARIAN CANCER

  	
   

  	
  2004

  	
   

  	
  Chan
  et al.

  	
   

  	
   

  	
   

  	
  Johns
  Hopkins University and Ciphergen Biosystems

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  71699-61154 P
  (E&A)

  	
   

  	
  US

  	
   

  	
  ORIGINAL FILING

  	
   

  	
  60/558,422

  	
   

  	
  Mar 31, 2004

  	
   

  	
  Daniel W. CHAN, Zhen
  ZHANG, Eric T. FUNG, and Xiao-Ying MENG

  	
   

  	
  EXPIRED

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  71699-61154 P2
  (E&A)

  	
   

  	
  US

  	
   

  	
  Based on
  60/558,422

  	
   

  	
  60/632,474

  	
   

  	
  Dec 01, 2004

  	
   

  	
  Daniel W. CHAN, Zhen
  ZHANG, and Eric T. FUNG [Xiao-Ying MENG to be added]

  	
   

  	
  EXPIRED

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  71699-61154 PCT
  (E&A)

  	
   

  	
  WO

  	
   

  	
  Based on
  60/558,422 and 60/632,474

  	
   

  	
  PCT/US05/ 

  	
   

  	
  Mar 31, 2005

  	
   

  	
  Daniel W. CHAN, Zhen
  ZHANG, Eric T. FUNG , and Xiao-Ying MENG

  	
   

  	
  PENDING; enters national
  phase by 9/30/06

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3

  	
   

  	
  BIOMARKER
  FOR OVARIAN AND ENDOMETRIAL CANCER: HEPCIDIN

  	
   

  	
  2005

  	
   

  	
  Fung
  et al.

  	
   

  	
   

  	
   

  	
  Johns
  Hopkins University, M.D. Anderson Cancer Research Center, and Ciphergen
  Biosystems

  	
   

  
	
   

  	
   

  	
  71699-62959 P
  (E&A)

  	
   

  	
  US

  	
   

  	
  ORIGINAL FILING

  	
   

  	
  60/662,090

  	
   

  	
  Mar 11, 2005

  	
   

  	
  Eric T. FUNG, Robert
  BAST, Zhen ZHANG, Daniel W. CHAN, Charlotte CLARKE, Xiao-Ying MENG, and Jin
  SONG

  	
   

  	
  PENDING; regular and PCT
  applications due 3/10/06

  	
   

  	
   

  	
   

  

 

B-3

 

	
  4

  	
   

  	
  BIOMARKERS
  FOR OVARIAN CANCER

  	
   

  	
  2005

  	
   

  	
  Fung
  et al.

  	
   

  	
   

  	
   

  	
  The
  University of Kentucky and Ciphergen Biosystems

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  016866-018400 US

  	
   

  	
  US

  	
   

  	
  ORIGINAL FILING

  	
   

  	
  60/

  	
   

  	
  Jun 24, 2005

  	
   

  	
  Eric FUNG, Frederick
  Rand UELAND, J.R. VAN NAGELL, Paul Duane DEPRIEST, and Andre Thomas BARON

  	
   

  	
  PENDING; regular and PCT
  applications due 6/23/06

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Application:  BREAST CANCER

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1

  	
   

  	
  BIOMARKERS
  FOR BREAST CANCER

  	
   

  	
  2004

  	
   

  	
  Li
  et al.

  	
   

  	
   

  	
   

  	
  The
  Johns Hopkins University and Ciphergen Biosystems

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  71699-61849 P
  (E&A)

  	
   

  	
  US

  	
   

  	
  ORIGINAL FILING

  	
   

  	
  60/610,769

  	
   

  	
  Sep 17, 2004

  	
   

  	
  Jinong LI, Carolyn
  Nicole WHITE, Zhen ZHANG, Daniel W. CHAN, Eric Thomas FUNG, and Xiao-Ying
  MENG

  	
   

  	
  PENDING; regular and PCT
  applications due 9/16/05

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2

  	
   

  	
  BIOMARKERS
  FOR BREAST CANCER

  	
   

  	
   

  	
   

  	
  2005

  	
   

  	
  GONÇALVES
  et al.

  	
   

  	
   

  	
   

  	
  Ciphergen
  Biosystems and Institute Calmettes

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  035394-003800 US

  	
   

  	
  US

  	
   

  	
  ORIGINAL FILING

  	
   

  	
  60/

  	
   

  	
  Jun 21, 2005

  	
   

  	
  Anthony GONÇALVES,
  Jean-Paul BORG, Eric FUNG, and Xiao-Ying MENG

  	
   

  	
  PENDING; regular and PCT
  applications due by 6/20/06

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Application:  LIVER CANCER

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1

  	
   

  	
  SERUM
  BIOMARKERS IN HEPATOCELLULAR CARCINOMA

  	
   

  	
  2002

  	
   

  	
  Yip
  et al.

  	
   

  	
   

  	
   

  	
  The
  Chinese University of Hong Kong and Ciphergen Biosystems

  	
   

  

 

B-4

 

	
   

  	
   

  	
  035394-001600 US

  	
   

  	
  US

  	
   

  	
  ORIGINAL FILING

  	
   

  	
  60/370,239

  	
   

  	
  Apr 08, 2002

  	
   

  	
  Tai-Tung YIP, Terence
  POON, Philip JOHNSON, Victor F. YIP, 
  and Christine L. YIP

  	
   

  	
  EXPIRED

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  035394-001610 PC

  	
   

  	
  WO

  	
   

  	
  Based on 60/370,239

  	
   

  	
  PCT/US2003/ 10489

  	
   

  	
  Apr 07, 2003

  	
   

  	
  Tai-Tung YIP, Terence
  POON, Philip JOHNSON, Victor F. YIP, 
  Christine L. YIP, and Anthony CHAN

  	
   

  	
  NATIONAL PHASE

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  035394-001610 CN

  	
   

  	
  CN

  	
   

  	
  Based on
  PCT/US03/10489

  	
   

  	
  03809631.5

  	
   

  	
  Oct 29, 2004

  	
   

  	
  Tai-Tung YIP, Terence
  POON, Philip JOHNSON, Victor F. YIP, 
  Christine L. YIP, and Anthony CHAN

  	
   

  	
  PENDING

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  035394-001610 EP

  	
   

  	
  EP

  	
   

  	
  Based on
  PCT/US03/10489

  	
   

  	
  03746616.6

  	
   

  	
  Apr 07, 2003

  	
   

  	
  Tai-Tung YIP, Terence
  POON, Philip JOHNSON, Victor F. YIP, 
  Christine L. YIP, and Anthony CHAN

  	
   

  	
  PENDING

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  035394-001610 HK

  	
   

  	
  HK

  	
   

  	
  Based on 

  	
   

  	
   

  	
   

  	
  Apr 07, 2003

  	
   

  	
  Tai-Tung YIP, Terence
  POON, Philip JOHNSON, Victor F. YIP, 
  Christine L. YIP, and Anthony CHAN

  	
   

  	
  PENDING

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  035394-001610 JP

  	
   

  	
  JP

  	
   

  	
  Based on
  PCT/US03/10489

  	
   

  	
  2003-583463

  	
   

  	
  Oct 06, 2004

  	
   

  	
  Tai-Tung YIP, Terence
  POON, Philip JOHNSON, Victor F. YIP, 
  Christine L. YIP, and Anthony CHAN

  	
   

  	
  PENDING

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  035394-001610 US

  	
   

  	
  US

  	
   

  	
  Based on
  PCT/US03/10489

  	
   

  	
  10/508,781

  	
   

  	
  Sep 23, 2004

  	
   

  	
  Tai-Tung YIP, Terence
  POON, Philip JOHNSON, Victor F. YIP, 
  Christine L. YIP, and Anthony CHAN

  	
   

  	
  PENDING

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Application:  PROSTATE CANCER

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1

  	
   

  	
  PROSTATE
  CANCER MARKER PROTEINS

  	
   

  	
  1999

  	
   

  	
  Yip
  et al.

  	
   

  	
  PENDING

  	
   

  	
  Ciphergen
  Biosystems

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  016866-003800 US

  	
   

  	
  US

  	
   

  	
  ORIGINAL FILING

  	
   

  	
  60/158,422

  	
   

  	
  Oct 07, 1999

  	
   

  	
  Tai-Tung YIP and
  Christine L. YIP

  	
   

  	
  EXPIRED

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  016866-003810 PC

  	
   

  	
  WO

  	
   

  	
  CIP of 60/158,422
  (003800US)

  	
   

  	
  PCT/US2000/ 27682

  	
   

  	
  Oct 06, 2000

  	
   

  	
  Tai-Tung YIP, Christine
  L. YIP, and George L. WRIGHT, Jr.

  	
   

  	
  NATIONAL PHASE

  	
   

  	
   

  	
   

  

 

B-5

 

	
   

  	
   

  	
  016866-003810 CA

  	
   

  	
  CA

  	
   

  	
  Based on
  PCT/US00/27682

  	
   

  	
  2386669

  	
   

  	
  Oct 06, 2000

  	
   

  	
  Tai-Tung YIP, Christine
  L. YIP, and George L. WRIGHT, Jr.

  	
   

  	
  PENDING

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  016866-003810 EP

  	
   

  	
  EP

  	
   

  	
  Based on
  PCT/US00/27682

  	
   

  	
  00968823.5

  	
   

  	
  Oct 06, 2000

  	
   

  	
  Tai-Tung YIP, Christine
  L. YIP, and George L. WRIGHT, Jr.

  	
   

  	
  PENDING

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  016866-003810 JP

  	
   

  	
  JP

  	
   

  	
  Based on
  PCT/US00/27682

  	
   

  	
  2001-528702

  	
   

  	
  Oct 06, 2000

  	
   

  	
  Tai-Tung YIP, Christine
  L. YIP, and George L. WRIGHT, Jr.

  	
   

  	
  PENDING

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  016866-003810 US

  	
   

  	
  US

  	
   

  	
  Based on
  PCT/US00/27682

  	
   

  	
  10/088,970

  	
   

  	
  Jul 19, 2002

  	
   

  	
  Tai-Tung YIP, Christine
  L. YIP, and George L. WRIGHT, Jr.

  	
   

  	
  PENDING

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Application: 
  ALZHEIMER’S DISEASE

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1

  	
   

  	
  BIOMARKERS FOR ALZHEIMER’S DISEASE

  	
   

  	
  2003

  	
   

  	
  Davies et al.

  	
   

  	
  PENDING

  	
   

  	
  Goteborg University and Ciphergen Biosystems

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  016866-011500 US

  	
   

  	
  US

  	
   

  	
  ORIGINAL FILING

  	
   

  	
  60/518,360

  	
   

  	
  Nov 07, 2003

  	
   

  	
  Huw Alun DAVIES, James
  Norton McGUIRE, Anja Hviid SIMONSEN, and Kaj BLENNOW

  	
   

  	
  EXPIRED

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  016866-011510 US

  	
   

  	
  US

  	
   

  	
  Related to
  60/518,360

  	
   

  	
  60/526,753

  	
   

  	
  Dec 02, 2003

  	
   

  	
  Huw Alun DAVIES, James
  Norton McGUIRE, Anja Hviid SIMONSEN, Kaj BLENNOW, and Vladimir N. PODUST

  	
   

  	
  EXPIRED

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  016866-011520 US

  	
   

  	
  US

  	
   

  	
  Related to
  60/518,360 and 60/526,753

  	
   

  	
  60/547,250

  	
   

  	
  Feb 23, 2004

  	
   

  	
  Huw Alun DAVIES, James
  Norton McGUIRE, Anja Hviid SIMONSEN, Kaj BLENNOW, and Vladimir N. PODUST

  	
   

  	
  EXPIRED

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  016866-011530 US

  	
   

  	
  US

  	
   

  	
  Related to
  60/518,360, 60/526,753, and 60/547,250 

  	
   

  	
  60/572,617 

  	
   

  	
  May 18,
  2004

  	
   

  	
  Huw Alun DAVIES, James
  Norton McGUIRE, Anja Hviid SIMONSEN, Kaj BLENNOW, and Vladimir N. PODUST

  	
   

  	
  EXPIRED

  	
   

  	
   

  	
   

  

 

B-6

 

	
   

  	
   

  	
  016866-011540 US

  	
   

  	
  US

  	
   

  	
  Related to
  60/518,360, 60/526,753, 60/547,250, and 60/572,617

  	
   

  	
  60/586,503

  	
   

  	
  Jul 08, 2004

  	
   

  	
  Huw Alun DAVIES, James
  Norton McGUIRE, Anja Hviid SIMONSEN, Kaj BLENNOW, and Vladimir N. PODUST

  	
   

  	
  EXPIRED

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  016866-011550 PC

  	
   

  	
  WO

  	
   

  	
  Related to
  60/518,360, 60/526,753, 60/546,423 (012600), 60/547,250, 60/558,896 (012610),
  60/572,617, and 60/586,503

  	
   

  	
  PCT/US2004/
  37994

  	
   

  	
  Nov 06, 2004

  	
   

  	
  Huw Alun DAVIES, James
  Norton McGUIRE, Anja Hviid SIMONSEN, Kaj BLENNOW, and Vladimir N. PODUST

  	
   

  	
  PENDING; enters
  national phase on 5/7/06

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  016866-011550 US

  	
   

  	
  US

  	
   

  	
  Related to
  60/518,360, 60/526,753, 60/546,423 (012600), 60/547,250, 60/558,896 (012610),
  60/572,617, and 60/586,503

  	
   

  	
  10/982,545

  	
   

  	
  Nov 06, 2004

  	
   

  	
  Huw Alun DAVIES, James
  Norton McGUIRE, Anja Hviid SIMONSEN, Kaj BLENNOW, and Vladimir N. PODUST

  	
   

  	
  PENDING

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2

  	
   

  	
  SAPOSIN D AND FAM3C ARE BIOMARKERS FOR ALZHEIMER’S DISEASE

  	
   

  	
  2005

  	
   

  	
  Davies et al.

  	
   

  	
  PENDING

  	
   

  	
  Goteborg University and Ciphergen Biosystems

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  016866-018000 US
  

  	
   

  	
  US

  	
   

  	
  ORIGINAL FILING

  	
   

  	
  60/673,277

  	
   

  	
  Apr 19, 2005

  	
   

  	
  Huw Alun DAVIES, Kaj
  BLENNOW, James McGUIRE, Vladimir PODUST, and Anja Hviid SIMONSEN

  	
   

  	
  PENDING; regular and
  PCT applications due 4/18/06

  	
   

  	
   

  	
   

  

 

B-7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00088-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00088-of-00352.parquet"}]]