Document:

Exhibit 10.36 Summary of Executive Health Program

    
      

      

    

    
      Exhibit
        10.36

      

      

      

      

      Executive
        Health Program

      March
        2006

      

      

      Beginning
        in 2006, the Senior Management team is eligible for a new benefit called
        the
        Executive Health Program. This benefit offers a comprehensive annual physical
        examination and lifestyle assessment. 

       

      

      Mayo
        Clinic Executive Health Program

      This
        option provides a more comprehensive program of examinations, tests and
        consultations. The time requirement is typically 2-3 days in Rochester, MN.
        The
        costs are typically in the range of $3,000-$6,000 which would be covered
        by
        Select Comfort after insurance coverage is applied. 

      

      

      Park
        Nicollet Executive Health Program

      This
        option also provides a comprehensive program of examinations, tests and
        consultations in a more condensed timeframe (typically 4 hours) in St. Louis
        Park, MN. The costs are typically in the range of $1,600-$2,000 which would
        be
        covered by Select Comfort after insurance coverage is applied.Exhibit 10.35

    [FM
      Services Company Letterhead]

     

    October
      13, 2005

     

    Dr.
      Henry
      A. Kissinger

    350
      Park
      Avenue

    New
      York,
      NY 10022

     

    Dear
      Dr.
      Kissinger:

     

    Supplemental
      Agreement Providing an Extension to

    Consulting
      Agreement of May 1, 1989

     

    The
      purpose of this letter is to confirm the automatic renewal of your Consulting
      Agreement with FM Services. Your contracts under both Kissinger Associates,
      Inc.
      dated December 22, 1998, as amended and Kent Associates Inc. dated May 1, 1989,
      as amended are considered renewed. 

     

    Each
      Agreement renews for an additional one-year period beginning January 1, 2006
      and
      ending December 31, 2006. All other terms and conditions of the Agreements
      as
      amended between you and FM Services shall remain the same.

     

    Please
      confirm that the foregoing correctly sets forth your understanding with respect
      to this matter by signing both originals of this Supplemental Agreement and
      returning one to me.

     

    Very
      truly yours, 

     

    /s/
      Richard C. Adkerson

    Richard
      C. Adkerson

    Chairman
      of the Board and President

    FM
      Services Company

     

    AGREED
      TO
      AND ACCEPTED

     

    BY:
      /s/
      Dr. Henry A. Kissinger   

              
       Dr. Henry A. Kissinger

     

    DATE:
      October 24,
      2005Exhibit 10.38

    [FM
      Services Company Letterhead]

     

    November
      30, 2005

    

    B.
      M.
      Rankin, Jr.

    300
      Crescent Court, Suite 875

    Dallas,
      Texas 75201

    

    Dear
      Mr.
      Rankin:

    

    The
      purpose of this letter is to confirm the automatic renewal of your Consulting
      Agreement dated January 1, 1991, as amended (the “Agreement”).

    

    Your
      contract will automatically renew for an additional one-year period beginning
      January 1, 2006, and ending December 31, 2006. All other terms and conditions
      of
      the Agreement shall remain the same.

    

    Please
      confirm that the foregoing correctly sets forth your understanding with respect
      to this matter by signing both originals of this letter and returning one to
      me.

    

    Very
      truly yours,

    /s/
      Richard C. Adkerson

    

    Richard
      C. Adkerson

    Chairman
      of the Board

    President

    FM
      Services Company

    

    AGREED
      TO AND ACCEPTED

    BY:
      /s/
      B. M. Rankin, Jr. 12/5/05   

     B.
      M. Rankin, Jr.  DateExhibit 10.42

    [FM
      Services Company Letterhead]

     

    October
      13, 2005

     

    Mr.
      J.
      Bennett Johnston, Jr. 

    1317
      Merrie Ridge Road

    McLean,
      Virginia 22101

    

    Dear
      Mr.
      Johnston:

     

    Supplemental
      Agreement Providing an Extension to the

    Consulting
      Agreement of January 7, 1997

    

    This
      Supplemental Agreement refers to the consulting agreement of January 7, 1997
      (The "Consulting Agreement") with the undersigned, FM Services Company (The
      "Company"), with respect to your performance of consulting services for FM
      Services and its subsidiaries and affiliates (collectively with FM Services,
      the
      "Freeport Entities").

    

    By
      way of
      this Supplemental Agreement, the Company would like to extend your Consulting
      Agreement from January 1, 2006 through December 31, 2006.

    

    Please
      confirm that the foregoing correctly sets forth your understanding with respect
      to this matter by signing both originals of this Supplemental Agreement and
      returning one to me.

    Very
      truly yours,

     

    /s/
      Richard C. Adkerson

     

    Richard
      C. Adkerson

    Chairman
      of the Board and President

    FM
      Services Company

    

    AGREED
      TO
      AND ACCEPTED

     

    BY:
      /s/
      J. Bennett Johnston, Jr.   

    J.
      Bennett Johnston, Jr.

    

    DATE:
      October 24,
      2005Exhibit 10.44

    

    

    

    

    [FM
      Services Company Letterhead] 

    

    

    

    October
      13, 2005

    

    

    

    The
      Honorable Gabrielle K. McDonald

    2001
      Holcombe Boulevard, #3201

    Houston,
      Texas 77030

    

    

    Dear
      Judge McDonald:

    

    Supplemental
      Agreement to the

    Consulting
      Agreement of November 1, 1999

    

    This
      Supplemental Agreement refers to the consulting agreement of November 1, 1999
      (the "Consulting Agreement"), with the undersigned, FM Services Company (the
      "Company"), with respect to your performance of consulting services for the
      Company and its subsidiaries and affiliates.

    

    By
      way of
      this Supplemental Agreement, the Company would like to extend your Consulting
      Agreement from January 1, 2006 through December 31, 2006. All other terms and
      conditions of the Consulting Agreement shall remain unchanged. 

    

    Please
      confirm that the foregoing correctly sets forth your understanding with respect
      to this matter by signing both originals of this Supplemental Agreement and
      returning one to me.

    

    Very
      truly yours,

    

    /s/
      Richard C. Adkerson 

    

    Richard
      C. Adkerson

    Chairman
      of the Board and President

    FM
      Services Company

    

    

    AGREED
      TO AND ACCEPTED:

    

    

    BY:
       /s/
      Gabrielle K. McDonald  

    The
      Honorable Gabrielle K. McDonald

    

    DATE:
        October
      26, 2005Exhibit 10.28

    [FM
      Services Company Letterhead]

     

    November
      30, 2005

     

    B.
      M.
      Rankin, Jr.

    300
      Crescent Court, Suite 875

    Dallas,
      Texas 75201

     

    Dear
      Mr.
      Rankin:

     

    The
      purpose of this letter is to confirm the automatic renewal of your Consulting
      Agreement dated January 1, 1991, as amended (the “Agreement”).

     

    Your
      contract will automatically renew for an additional one-year period beginning
      January 1, 2006, and ending December 31, 2006. All other terms and conditions
      of
      the Agreement shall remain the same.

     

    Please
      confirm that the foregoing correctly sets forth your understanding with respect
      to this matter by signing both originals of this letter and returning one to
      me.

     

    Very
      truly yours,

     

    /s/
      Richard C. Adkerson

    Richard
      C. Adkerson

    Chairman
      of the Board

    President

    FM
      Services Company

     

    AGREED
      TO
      AND ACCEPTED

     

    BY:
      /s/
      B. M. Rankin, Jr. 12/5/05   

    B.
      M.
      Rankin, Jr.  DateCollaboration Agreement with Wyeth

    Exhibit
      10.26

     

     

     

    LICENSE
      AND CO-DEVELOPMENT AGREEMENT

     

    

     

    by
      and
      among

     

    

     

    WYETH,

     

    acting
      through its

     

    WYETH
      PHARMACEUTICALS DIVISION,

     

    

     

    WYETH-WHITEHALL
      PHARMACEUTICALS, INC., 

     

    

     

    WYETH-AYERST
      LEDERLE, INC.,

     

    

     

    and

     

    

     

    PROGENICS
      PHARMACEUTICALS, INC. 

     

    and

     

    PROGENICS
      PHARMACEUTICALS NEVADA, INC.

     

    

     

    Dated
      as
      of December 23, 2005 

     

    

    
      
        
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    TABLE
      OF CONTENTS

                                                                        

                                                                                                  
      Page

     

    
      
        	
                1.

              	 	
                DEFINITIONS

              	
                2

              
	
                2.

              	 	
                OVERVIEW
                  OF COLLABORATION AND LICENSE GRANTS

              	
                12

              
	
                3.

              	 	
                GOVERNANCE
                  OF COLLABORATION

              	
                17

              
	
                4.

              	 	
                DEVELOPMENT

              	
                20

              
	
                5.

              	 	
                CO-PROMOTION
                  OPTION AND COMMERCIALIZATION

              	
                24

              
	
                6.

              	 	
                PAYMENTS
                  BY WYETH TO PROGENICS

              	
                26

              
	
                7.

              	 	
                INTELLECTUAL
                  PROPERTY

              	
                34

              
	
                8.

              	 	
                CONFIDENTIALITY

              	
                39

              
	
                9.

              	 	
                REPRESENTATIONS
                  AND WARRANTIES

              	
                42

              
	
                10.

              	 	
                TERM
                  AND TERMINATION

              	
                45

              
	
                11.

              	 	
                INDEMNIFICATION
                  AND INSURANCE

              	
                54

              
	
                12.

              	 	
                REGULATORY
                  MATTERS, PRODUCT SAFETY ISSUES, PRODUCT
                  RECALLS

              	
                55

              
	
                13.

              	 	
                MISCELLANEOUS

              	
                58

              

      

    

    

    
      
        
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    SCHEDULES

    

    Schedule
      1.10 Chemical
      Drawing of Compound

    Schedule
      8.4.2 Press
      Release

    Schedule
      9.2 Progenics
      Disclosure Schedule

    

    

    EXHIBITS

    

    EXHIBIT
      A
      Co-Promotion Agreement

    

    
      
        
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    LICENSE
      AND CO-DEVELOPMENT AGREEMENT

     

    This
      License and Co-Development Agreement (the “Agreement”)
      is
      entered into this 23rd
      day of
      December, 2005 (the “Effective
      Date”),
      by
      and among Wyeth, acting through its Wyeth Pharmaceuticals Division, a
      corporation organized and existing under the laws of the State of Delaware
      and
      having a principal place of business at 500 Arcola Road, Collegeville,
      Pennsylvania 19426, Wyeth-Whitehall
      Pharmaceuticals, Inc., a corporation having a principal place of business at
      Road No. 3, Kilometer 142.1, Guayama, Puerto Rico 00784, and Wyeth-Ayerst
      Lederle, Inc. a corporation having a principal place of business at 65th
      Infantry Road, Kilometer 9.7, Carolina, Puerto Rico 00987-4904
      (collectively “Wyeth”)
      and
      Progenics Pharmaceuticals, Inc., a corporation organized and existing under
      the
      laws of the State of Delaware and having a principal place of business at 777
      Old Saw Mill River Road, Tarrytown, NY 10591 (“Progenics”)
      and
      Progenics Pharmaceuticals Nevada, Inc., a corporation organized and existing
      under the laws of the State of Nevada and having a principal place of business
      at 777 Old Saw Mill River Road, Tarrytown, NY 10591 (“ProNev”).
      Wyeth
      and Progenics may each be referred to herein individually as a “Party”
and
      collectively as the “Parties.”

     

    BACKGROUND

     

    A. Wyeth
      Pharmaceuticals is the pharmaceutical division of Wyeth, a global company
      devoted, among other businesses, to discovering, developing, manufacturing
      and
      marketing human pharmaceutical products.

     

    B. Wyeth-Whitehall
      Pharmaceuticals, Inc. and Wyeth-Ayerst Lederle, Inc. are indirect subsidiaries
      of Wyeth.

     

    C. Progenics
      is a biopharmaceutical company focusing on the development and commercialization
      of innovative therapeutic products. Progenics is developing [*] (“[*]”), for the
      treatment of post-operative bowel dysfunction and opioid-induced constipation
      associated with chronic pain and advanced medical illness.

     

    D. ProNev
      is
      a direct, wholly-owned subsidiary of Progenics.

     

    E. Progenics
      owns or has rights under certain patents, patent applications, other valuable
      technology and know-how relating to [*] and has conducted and is conducting
      certain clinical trials for [*].

     

    F. Wyeth
      and
      Progenics wish to collaborate regarding the development of [*] and Progenics
      wishes to grant to Wyeth, and Wyeth wishes to receive from Progenics, an
      exclusive worldwide license to develop and commercialize [*].

     

    AGREEMENT

     

    NOW
      THEREFORE, in consideration of the mutual promises and covenants set forth
      below
      and other good and valuable consideration, the receipt and sufficiency of which
      is hereby acknowledged, the Parties hereby agree as follows: 

     

    
      
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      	1.  	
              DEFINITIONS.

            

    

     

    Capitalized
      terms not otherwise defined herein shall have the following
      meanings:

     

    1.1.  Affiliate(s).“Affiliate(s)”means,
      as of any point in time and for so long as such relationship continues to exist
      with respect to any Person, any other Person which controls, is controlled
      by or
      is under common control with such Person. A Person shall be regarded as in
      control of another Person if it owns or controls more than 50% of the equity
      securities of the subject Person entitled to vote in the election of directors
      (or, in the case of a Person that is not a corporation, for the election of
      the
      corresponding managing authority); provided,
      however,
      that
      the term “Affiliate” shall not include a Person in which any other Person owns a
      majority of the ordinary voting power necessary to elect a majority of the
      board
      of directors or other governing board, but is restricted from electing such
      majority by contract or otherwise, until such time as such restrictions are
      no
      longer in effect.

     

    1.2.  Calendar
      Quarter.“Calendar
      Quarter” means the respective periods of three (3) consecutive calendar months
      ending on March 31, June 30, September 30 or December 31, for so long as this
      Agreement is in effect. 

     

    1.3.  Calendar
      Year.“Calendar
      Year” means any calendar year.

     

    1.4.  Claim.
      “Claim”
      means any claim, action, cause of action, chose in action, or suit (in contract
      or tort or otherwise), litigation, arbitration, investigation, opposition,
      hearing, complaint, demand, notice or proceeding to, from, by or before any
      arbitrator, court, administrative organization, or other governmental authority
      or other Person.

     

    1.5.  Collaboration.“Collaboration”
      means the Development and Commercialization activities of the Parties under
      this
      Agreement.

     

    1.6.  Combination
      Product. “Combination
      Product” means any Product that contains the Compound as an active ingredient
      together with one or more other active
      ingredients and is sold for a single invoiced price, e.g., where the Compound
      is
      packaged for sale together with a second compound or biologic as an active
      ingredient (either as a single fixed dose or as separate doses).

     

    1.7.  Commercialization.“Commercialization”
      means all activities related to the commercial exploitation of the Compound
      and
      the Products, including without limitation the manufacture, supply, use,
      importation, exportation, marketing, promotion, distribution, pre-launch,
      launch, sale, offering for sale and conducting Phase 4 Clinical Trials of the
      Products. When used as a verb, “Commercialize” or “Commercializing” means to
      engage in Commercialization. 

     

    1.8.  Commercially
      Reasonable Efforts.“Commercially
      Reasonable Efforts” means efforts and resources normally used by the Party
      required to use such efforts and resources for a product, proposed product
      or
      technology owned by it or to which it has rights, which is of similar commercial
      potential at a similar stage in its development or product life, taking into
      account issues of [*].

     

    
      
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    1.9.  Committee.
      “Committee”
      means the JSC, JDC, and/or JCC as the context requires.

     

    1.10.  Compound.“Compound”
      means [*] ([*]) which is chemically defined as [*] and its pharmacologically
      acceptable salts, together with their solvates, hydrates, hemihydrates,
      metabolites, pro-drugs, esters, and if applicable, any isomers or racemates
      thereof, [*]. The “Compound” does not include the Excluded
      Molecules.
      A
      chemical drawing of [*] is attached as Schedule
      1.10.

     

    1.11.  Confidential
      Information.“Confidential
      Information” means, with respect to each Party, any non-public proprietary data,
      information or materials that belongs in whole or in part to such Party, its
      Affiliates or Sublicensees and information otherwise designated by such Party
      as
      Confidential Information of such Party hereunder.

     

    1.12.  Control
      or Controlled.“Control”
      or “Controlled” means with respect to any material, item of information, or
      intellectual property right, the possession, whether by ownership or license,
      of
      the right to grant a license with respect thereto. 

     

    1.13.  Co-Promotion
      Territory.“Co-Promotion
      Territory” means
      the
      United States of America, including its territories and
      possessions.

     

    1.14.  Development.“Development”
      means all activities related to the development of Products and obtaining
      Regulatory Approval for Products, including, without limitation, all activities
      related to research, development, preclinical testing, stability testing,
      toxicology, formulation, clinical trials, regulatory affairs, statistical
      analysis, report writing, manufacturing process and scale up, qualification
      and
      validation activities, quality assurance/quality control development and
      regulatory filing creation and submission related to obtaining Regulatory
      Approval for Products. When used as a verb “Develop” means to engage in
      Development.

     

    1.15.  Excluded
      Molecules.“Excluded
      Molecules” means [*] ([*]), chemically defined as [*] and its pharmacologically
      acceptable salts, together with their solvates, hydrates, hemihydrates,
      metabolites, pro-drugs, esters, and if applicable, any isomers or racemates
      thereof, [*].

     

    1.16.  FDA.“FDA”
      means the United States Food and Drug Administration or any successor agency
      thereto.

     

    1.17.  FD&C
      Act.“FD&C
      Act” means the United States Federal Food, Drug, and Cosmetic Act, as amended,
      and the rules and regulations promulgated thereunder.

     

    1.18.  Field.“Field”
      means all prophylactic or therapeutic pharmaceutical uses of Compound for the
      diagnosis, treatment or prevention of disease in humans.

     

    1.19.  First
      Commercial Sale.“First
      Commercial Sale” means, with respect to any Product and with respect to any
      country of the Territory, the first sale of such Product to a Third Party in
      such country after such Product has been granted Regulatory Marketing Approval
      by a Regulatory Authority having jurisdiction for such country.

     

    
      
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    1.20.  FTE.“FTE”
      means the full time equivalent effort of one Progenics employee who participates
      directly in the activities under an approved Development Plan. For purposes
      of
      this definition, “full time equivalent effort” shall mean
      [*]
      of work per year with reimbursement based on actual hours worked.

     

    1.21.  FTE
      Rate. “FTE
      Rate” means the hourly rate of $[*] per hour for Development work to be
      performed by Progenics during Calendar Year 2006, increasing at the beginning
      of
      each subsequent Calendar Year over the prior year amount by the increase of
      the
      Consumer Price Index- All Urban Consumers during the prior year.

     

    1.22.  GAAP.“GAAP”
      means U.S. generally accepted accounting principles consistently
      applied.

     

    1.23.  GMP.“GMP”
      means good manufacturing practices, as such term is defined in the FD&C Act,
      applicable to the manufacture of the Products and the Compound.

     

    1.24.  IND.“IND”
      means an Investigational New Drug Application, as defined in the FD&C Act,
      that is required to be submitted with the FDA before beginning clinical testing
      in human subjects, or an equivalent foreign filing.

     

    1.25.  IV
      Product.“IV
      Product” means any Product that is formulated to be administered
      intravenously.

     

    1.26.  JCC.“JCC”
      means the Joint Commercialization Committee established in accordance with
      Section 3.4
      (Joint
      Commercialization Committee (JCC)).

     

    1.27.  JDC.
      “JDC”
      means the Joint Development Committee established in accordance with Section
      3.3
      (Joint
      Development Committee (JDC)).

     

    1.28.  Joint
      Know-How. “Joint
      Know-How” means any Know-How made or created in the course of Collaboration
      jointly by (i) employees or agents of Progenics or any of its Affiliates, and
      (ii) employees or agents of Wyeth or any of its Affiliates.

     

    1.29.  Joint
      Patent Rights. “Joint
      Patent Rights” means any Patent Rights related to any invention, development or
      discovery made or created in the course of the Collaboration jointly by (i)
      employees or agents of Progenics or any of its Affiliates, and (ii) employees
      or
      agents of Wyeth or any of its Affiliates, as determined in accordance with
      Section 7.1.1 (Inventorship).

     

    1.30.  Joint
      Technology. “Joint
      Technology” means the Joint Know-How and the Joint Patent Rights.

     

    1.31.  JSC.“JSC”
      means the Joint Steering Committee established in accordance with Section
3.2
      (Joint
      Steering Committee (JSC)).

     

    1.32.  Know-How.“Know-How”
      means any confidential unpatented or unpatentable invention, development,
      discovery, technology, cell line, biological material, compound,
      probe,

     

    
      
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    sequence,
      technical information, method, biological material, or other confidential
      information or material.

     

    1.33.  Licensed
      Activit(y/ies).“Licensed
      Activit(y/ies)” means, collectively, the Development and Commercialization of
      any Product, the practice of any Progenics Technology or Joint Technology or
      the
      exercise of any other right granted by Progenics to Wyeth under this Agreement,
      in each case as permitted under this Agreement.

     

    1.34.  Major
      Market Country. A
“Major
      Market Country” means any of [*].

     

    1.35.  [*].

     

    1.36.  Net
      Sales.“Net
      Sales” means the gross amounts invoiced for sales of all Products by Wyeth, its
      Affiliates and Sublicensees (each a “Selling
      Person”)
      to
      Third Parties which are not Sublicensees, less the following deductions, in
      each
      case to the extent specifically related to the Product and taken by the Selling
      Person or otherwise paid for or accrued by the Selling Person (“Permitted
      Deductions”):

     

    (i) trade,
      cash, promotional and quantity discounts, and wholesaler fees.

     

    (ii) taxes
      on
      sales (such as excise, sales or use taxes or value added taxes) to the extent
      imposed upon and paid directly with respect to the sales price (and excluding
      national, sales or local taxes based on income); 

     

    (iii) freight,
      insurance, packing costs and other transportation charges to the extent included
      in the invoice price to the buyer; 

     

    (iv) amounts
      repaid or credits taken by reason of damaged goods, rejections, defects, expired
      dating, recalls, returns or because of retroactive price changes;

     

    (v) charge
      back payments and rebates granted to (a) managed healthcare organizations,
      (b)
      federal, state and/or provincial and/or local governments or other agencies,
      (c) purchasers and reimbursers, or (d) trade customers, including without
      limitation, wholesalers and
      chain
      and pharmacy buying groups, all only to the extent permitted by applicable
      law
      and regulations; and

     

    (vi) documented
      customs duties actually paid by the Selling Person.

     

    Products
      provided by Wyeth, its Affiliates or Sublicensees, free of charge, for
      administration to patients enrolled in clinical trials or distributed at no
      charge to eligible patients shall not be included in Net Sales, provided that
      Wyeth, its Affiliates and Sublicensees receive no cash consideration from such
      clinical trials or such use of Product.

     

    It
      is
      understood that accruals taken as a deduction against Net Sales will be
      periodically reviewed by Wyeth in accordance with GAAP and if any accrual is
      reversed by Wyeth a corresponding credit will be made to Net Sales in the period
      in which the reversal is made.

     

    
      
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    Bundling.
      Where a
      Product is “bundled” for sale together with one or more other products in a
      country or is offered as a “loss leader” to encourage the sale of one or more
      other product(s), Net Sales of such Product shall be [*] by Wyeth, its Affiliate
      or Sublicensee (less the Permitted Deductions) [*], which [*].

     

    Combination
      Sales.
      If a
      Product is sold as a Combination Product (a “Combination
      Sale”),
      the
      Net Sales for such Combination Product shall be the portion of such Combination
      Sale allocable to the Compound determined as follows:

     

    Except
      as
      provided below, the Net Sales amount for a Combination Sale shall equal the
      [*],
      where:

     

    [*].

     

    Where
      the
      calculation of Net Sales resulting from a Combination Sale in a country cannot
      be determined by the foregoing method, the calculation of Net Sales for such
      Combination Sale shall be [*].

     

    EXCEPT
      THAT the Net Sales of a Combination Product shall not be reduced by any fraction
      if:

     

    (i)  [*];

     

    (ii)  [*];
      and

     

    (iii)  [*].

     

    1.37.  NDA.
      “NDA”
      means a New Drug Application, as defined in the FD&C Act, that is filed with
      the FDA to formally propose that the FDA approve a new drug for sale and
      marketing in the U.S., or an equivalent application or submission.

     

    1.38.  Non-Royalty
      Sublicense Income. “Non-Royalty
      Sublicense Income” means [*]consideration received by Wyeth or a Wyeth Affiliate
      in consideration for the grant of any Sublicense, [*]. Non-Royalty Sublicense
      Income includes, without limitation, [*] paid to Wyeth or a Wyeth Affiliate
      by
      or on behalf of the Sublicensee in consideration for the Sublicense (other
      than
      [*] for Development of the Products in [*]). In addition to excluding [*]
      Non-Royalty Sublicense Income will exclude payments received in consideration
      for [*], including without limitation payments made to Wyeth or its Affiliates
      (i) in consideration of [*].

     

    1.39.  Oral
      Product.“Oral
      Product” means any Product that is formulated to be taken orally.

     

    1.40.  Outside
      Contractor.“Outside
      Contractor” means any person other than a Sublicensee contracted by Progenics or
      Wyeth to provide products or services relating to the Collaboration, including,
      without limitation, contract manufacturing services, clinical services or
      regulatory services that contribute to the performance of its responsibilities
      under the Development Plan or that result in any work product or other
      information that Progenics or 

     

    
      
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    Wyeth
      could include or might reasonably be expected to include in any document or
      report, including, without limitation, a Registrational Filing, submitted to
      a
      Government Authority or be subject to review by a Government Authority,
      including, without limitation the FDA.

     

    1.41.  Patent
      Rights.“Patent
      Rights” means any and all (a) U.S. or foreign patents, (b) U.S. or foreign
      patent applications, including, without limitation, all provisional
      applications, substitutions, continuations, continuations-in-part, divisions,
      renewals, and all patents granted thereon, (c) U.S. or foreign
      patents-of-addition, reissues, reexaminations and extensions or restorations
      by
      existing or future extension or restoration mechanisms, including, without
      limitation, supplementary protection certificates or the equivalent thereof,
      and
      (d) other forms of government-issued right substantially similar to any of
      the
      foregoing.

     

    1.42.  Person.“Person”
      means any individual or legal entity. 

     

    1.43.  Phase
      3 Clinical Trial.“Phase
      3
      Clinical Trial” means a human clinical study on sufficient numbers of patients
      that is designed to establish that a pharmaceutical product is safe and
      efficacious for its intended use, and to define warnings, precautions and
      adverse reactions that are associated with the pharmaceutical product in the
      dosage range to be prescribed, and to support Regulatory Approval of such
      pharmaceutical product or label expansion of such pharmaceutical
      product. 

     

    1.44.  Phase
      4 Clinical Trial.“Phase
      4
      Clinical Trial” means product support clinical trials of a Product not for the
      purpose of obtaining Regulatory Marketing Approval, which are commenced before
      or after receipt of Regulatory Marketing Approval of such Product.

     

    1.45.  Product.“Product”
      means a product containing the Compound as an active ingredient, including
      without limitation a Combination Product.

     

    1.46.  Progenics
      Change of Control.“Progenics
      Change of Control” means the occurrence of any of the following events: (i)
      Progenics directly or indirectly sells, conveys or otherwise disposes of all
      or
      substantially all of Progenics’ assets or business to a Top 15 Pharmaceutical
      Company or any Affiliate of a Top 15 Pharmaceutical Company; (ii) Progenics
      or
      any of its controlling Affiliates merges with or into or consolidates with
      any
      Top 15 Pharmaceutical Company or any Affiliate of a Top 15 Pharmaceutical
      Company; (iii) any other transaction or series of related transactions as a
      result of which a Top 15 Pharmaceutical Company or an Affiliate of a Top 15
      Pharmaceutical Company is able to elect a majority of the members of the board
      of directors of Progenics or any of its controlling Affiliates. For the purpose
      of this definition, a “controlling Affiliate” is an Affiliate that “controls”
Progenics, as such term is used in the definition of Affiliates in Section
      1.1
      (Affiliates).

     

    1.47.  Progenics
      Development Costs.“Progenics
      Development Costs” means expenses
      of Progenics incurred in accordance with an approved Development Plan and
      Progenics Development Cost Budget approved by the JSC or agreed by the Parties,
      consisting of (i) the cost of actual direct FTEs, as recorded in the Progenics
      [*] time reporting system or any other mutually agreed and auditable time
      tracking system, costed at the FTE Rate, and (ii) direct out-of-pocket expenses
      incurred in the performance of activities assigned to Progenics under such
      Development Plan. 

     

    
      
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    1.48.  Progenics
      Development Cost Budget. “Progenics
      Development Cost Budget” means the three-year, quarter-by-quarter rolling budget
      for Progenics Development Costs approved annually by the JSC. The initial
      Progenics Development Cost Budget has been agreed by the Parties simultaneously
      with the execution of this Agreement.

     

    1.49.  Progenics
      Know-How.“Progenics
      Know-How” means Know-How Controlled by Progenics or its Affiliates as of the
      Effective Date or at any time during the Term which relates to the Compound
      or a
      Product or to the use of the
      Compound or a Product; provided,
      however,
      that if
      a Third Party becomes an Affiliate of Progenics pursuant to a transaction or
      series of related transactions as a result of which such Third Party is able
      to
      elect a majority of the members of the board of directors of Progenics (or
      its
      successor company) or any of its “controlling Affiliates” (as defined in Section
1.46
      (Progenics Change of Control), “Progenics Know-How” will not include any
      Know-How that was Controlled by such Third Party (and not by Progenics) prior
      to
      the completion of such transaction or series of related
      transactions.

     

    1.50.  Progenics
      Patent Rights.“Progenics
      Patent Rights” means any Patent Right Controlled by Progenics or its Affiliates
      as of the Effective Date or at any time during the Term that relates to, claims,
      or if issued, would be infringed by an unlicensed Third Party’s manufacture,
      use, sale, importation, Development or Commercialization of the Compound, or
      any
      Product; provided,
      however,
      that if
      a Third Party becomes an Affiliate of Progenics pursuant to a transaction or
      series of related transactions as a result of which such Third Party is able
      to
      elect a majority of the members of the board of directors of Progenics (or
      its
      successor company) or any of its “controlling Affiliates” (as defined in Section
1.46
      (Progenics Change of Control), “Progenics Patent Rights” will not include any
      Patent Rights that were Controlled by such Third Party prior to the completion
      of such transaction or series of related transactions. Progenics Patent Rights
      as of the Effective Date are identified on Schedule
      9.2.

     

    1.51.  Progenics
      Technology.“Progenics
      Technology” means the Progenics Know-How and the Progenics Patent
      Rights. 

     

    1.52.  Progenics
      Third Party Agreement.“Progenics
      Third Party Agreement” means any agreement in effect as of the Effective Date
      under which Progenics or any of its Affiliates is granted any license or
      otherwise has any rights or interests under any Progenics Technology or which
      relates to the supply or clinical study of the Compound or any
      Product,
      including without limitation the agreements listed in Schedule
      9.2(C)
      under
      the heading “Progenics Third Party Agreements.”

     

    1.53.  Recall.
      “Recall”
      means, with respect to any pharmaceutical product, a “recall” or a “product
      withdrawal” or a “stock recovery” or any similar term as utilized by any
      Regulatory Authority under such Regulatory Authority’s procedures regarding the
      recall of pharmaceutical products, as the same may be amended from time to
      time,
      and shall include any post-sale warning or mailing of information regarding
      such
      product, including any warnings or mailings described in the Regulatory
      Authority’s product recall procedures.

     

    1.54.  Registrational
      Filing.“Registrational
      Filing” means an application submitted to the appropriate Regulatory Authority
      seeking a Regulatory Marketing Approval.

     

    
      
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    1.55.  Regulatory
      Approval.“Regulatory
      Approval” means the technical, medical and scientific licenses, registrations,
      authorizations and approvals of any Regulatory Authority necessary for the
      development, clinical testing, commercial manufacture, distribution, marketing,
      promotion, offer for sale, use, import, export or sale of a Product in a
      regulatory jurisdiction,
      including, without limitation, INDs, NDAs, or Biologic License Applications
      (“BLAs”),
      supplements and amendments, pre- and post- approvals, pricing and third party
      reimbursement approvals, labeling approvals, and drug master files
      (“DMFs”).

     

    1.56.  Regulatory
      Authority.“Regulatory
      Authority” means, with respect to a country in the Territory, any national
      (e.g., the FDA), supra-national (e.g., the European Commission, the Council
      of
      the European Union, or the European Agency for the Evaluation of Medicinal
      Products), regional, state or local regulatory agency, department, bureau,
      commission, council or other governmental entity involved in the granting of
      a
      Regulatory Approval for such country or countries.

     

    1.57.  Regulatory
      Marketing Approval.“Regulatory
      Marketing Approval” means, with respect to any Product in any country or region
      and in any indication, Regulatory Approval authorizing the marketing of such
      Product in such country or region for such indication. For the sake of clarity,
      Regulatory Marketing Approval shall be deemed to have occurred when the FDA
      or
      its foreign equivalent sends a Letter of Approval or its foreign
      equivalent.

     

    1.58.  Regulatory
      Pricing Approval.“Regulatory
      Pricing Approval” means, with respect to any Product in any country or region,
      the achievement of all applicable pricing and reimbursement approvals with
      respect to such Product in such country or region.

     

    1.59.  Royalty
      Period.“Royalty
      Period” means with respect to any particular Product in any particular country,
      the period of time beginning on [*] and extending until the later of
      (a) [*],
      (b)
      [*], and (c) [*].

     

    1.60.  SC
      Product.“SC
      Product” means any Product that is formulated to be administered by a
      subcutaneous injection.

     

    1.61.  Sublicense.“Sublicense”
      means, directly or indirectly, to sublicense, grant any other right with respect
      to, or agree not to assert, any right licensed to Wyeth under this Agreement.
      When used as a noun, “Sublicense” means any agreement to Sublicense. 

     

    1.62.  Sublicensee.“Sublicensee”
      means any Third Party who is granted a Sublicense.

     

    1.63.  Territory.“Territory”
      means the entire world.

     

    1.64.  Third
      Party.“Third
      Party” means any Person other than Wyeth, Progenics or their respective
      Affiliates.

     

    1.65.  Title
      11.“Title
      11” shall have the meaning set forth in Section 10.5.3
      (Rights
      to Intellectual Property).

     

    1.66.  Top
      5 EU Market Country.
      A “Top 5
      EU Market Country” means any of [*].

     

    
      
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    1.67.  Top
      15 Pharmaceutical Company.
      Top 15
      Pharmaceutical Company means, at any given time, any of the fifteen (15) largest
      pharmaceutical or biopharmaceutical companies in world (other than Wyeth),
      measured by the stock market value of the equity capitalization of the companies
      at that time.

     

    1.68.  Unauthorized
      Generic Product.“Unauthorized
      Generic Product” means, with respect to any Product, a pharmaceutical product
      (other than the Product itself) sold by an unlicensed Third Party that contains
      the Compound and gains Regulatory Marketing Approval for one of the same
      indications as such Product without de
      novo
      evidence
      of safety and efficacy, such as through an abbreviated new drug application
      as
      defined in 21 U.S.C. 355(j) or an application submitted pursuant to 21 U.S.C.
      355(b)(2) (or their equivalents outside the United States). 

     

    1.69.  Unauthorized
      Generic Product Market.“Unauthorized
      Generic Product Market” means, with respect to any Product in any country in the
      Territory, the sum of [*]. Unauthorized Generic Product sales shall be
      determined using independent market data (where available), such as that
      published by IMS.

     

    1.70.  Valid
      Claim.“Valid
      Claim” means a claim of a patent application or an issued and unexpired patent
      that has not been held unpatentable, revoked, unenforceable or invalid by a
      decision of a court or other governmental agency of competent jurisdiction,
      unappealable or unappealed within the time allowed for appeal, and that has
      not
      been admitted to be invalid or unenforceable through reissue, disclaimer or
      otherwise. If a claim of a pending patent application has not issued as a claim
      of an issued patent within [*] years after the earliest priority date for such
      claim, such claim shall cease to be a Valid Claim unless and until such claim
      becomes an issued claim of an issued patent.

     

    1.71.  Wyeth
      Collaboration Know-How. “Wyeth
      Collaboration Know-How” means Know-How relating to the Collaboration or the
      Compound or the Products, Controlled as of the Effective Date or at any time
      during the Term by Wyeth or its Affiliates, that is made or created in the
      course of the Collaboration solely by employees or agents of Wyeth or any of
      its
      Affiliates or Sublicensees, other than Progenics Know-How and Joint Know-How.
      

     

    1.72.  Wyeth
      Collaboration Patent Rights.“Wyeth
      Collaboration Patent Rights” means any Patent Right Controlled by Wyeth or its
      Affiliates that claim inventions invented solely by employees or agents of
      Wyeth
      or any of its Affiliates or Sublicensees (as determined in accordance with
      Section 7.1.1
      (Inventorship)) arising out of the Collaboration that, if issued, would be
      infringed by an unlicensed Third Party’s manufacture, use, sale, importation,
      Development or Commercialization of the Compound or any Product, other than
      Progenics Patent Rights and Joint Patent Rights.

     

    1.73.  Wyeth
      Independent Patent Rights.“Wyeth
      Independent Patent Rights” means any Patent Right Controlled by Wyeth or its
      Affiliates that, if issued, would be infringed by an unlicensed Third Party’s
      manufacture, use, sale, importation, Development or Commercialization of the
      Compound or any Product, other than Wyeth Collaboration Patent Rights, the
      Progenics Patent Rights and the Joint Patent Rights. 

     

    
      
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    1.74.  Additional
      Definitions. Definitions
      for each of the following defined terms are set forth in the section of this
      Agreement indicated below:

     

    
      	
              Definition

            	
              Section

            
	 	 
	
              Agreement

            	
              Introduction

            
	
              Commercialization
                Payments

            	
              6.4

            
	
              Co-Promotion
                Agreement

            	
              5.1

            
	
              Co-Promotion
                Option

            	
              5.1

            
	
              Debtor
                Party

            	
              10.5.1

            
	
              Designated
                Countries

            	
              7.2.1

            
	
              Development
                Account

            	
              6.2.2

            
	
              Development
                Cost Summary

            	
              6.2.2

            
	
              Development
                Payments

            	
              6.3

            
	
              Development
                Plan

            	
              4.1

            
	
              Disclosing
                Party

            	
              8.1

            
	
              Effective
                Date

            	
              Introduction

            
	
              Estimated
                Quarterly Development Costs

            	
              6.2.2

            
	
              Executive
                Officers

            	
              3.1.3

            
	
              Indemnified
                Party

            	
              11.3

            
	
              Indemnifying
                Party

            	
              11.3

            
	
              Liability

            	
              11.1

            
	
              Licensed
                Progenics Patent Rights

            	
              9.2(a)

            
	
              Negotiation
                Period

            	
              2.3.2(d)

            
	
              Non-Debtor
                Party

            	
              10.5.1

            
	
              Owned
                Progenics Patent Rights

            	
              9.2(a)

            
	
              Partial
                Termination

            	
              10.2.1

            
	
              Party
                Vote

            	
              3.1.3

            
	
              Permitted
                Deductions

            	
              1.36

            
	
              Progenics

            	
              Introduction

            
	
              Progenics
                Indemnified Party

            	
              11.1

            
	
              Progenics
                Regulatory Filings/Approvals

            	
              12.1.4(a)

            
	
              ProNev

            	
              Introduction

            
	
              Receiving
                Party

            	
              8.1

            
	
              Responsible
                Executive

            	
              13.19

            
	
              [*]

            	
              Background

            
	
              Selling
                Person

            	
              1.36

            
	
              [*]

            	
              1.36

            
	
              Sued
                Party

            	
              7.2.7(c)

            
	
              Term

            	
              10.1

            
	
              Terminated
                Products

            	
              10.4.3

            
	
              Terminated
                Territory

            	
              10.4.1(f)

            
	
              Third
                Party IP Rights

            	
              7.2.7(b)

            
	
              Transferred
                Regulatory Filings/Approvals

            	
              12.1.4(b)

            
	
              UR
                Labs Acquisition Agreements

            	
              9.2(e)

            
	
              UR
                Labs-Progenics Agreement

            	
              10.6.1

            

    

    

    
      
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              Working
                Group

            	
              3.3.4

            
	
              Wyeth

            	
              Introduction

            
	
              Wyeth
                Non-Defaulting Termination

            	
              10.6.2

            
	
              Wyeth
                Indemnified Party

            	
              11.2

            

    

    

    
      	2.  	
              LICENSE
                GRANTS AND RELATED
                MATTERS.

            

    

     

    2.1.  Exclusive
      License from Progenics to Wyeth.
      Subject
      to the terms and conditions of this Agreement, Progenics hereby grants to Wyeth
      in the Field an exclusive (even as to Progenics, other than as set forth in
      Section 2.2
      (Retained Rights)) license under the Progenics Technology and Joint Technology,
      with the right to sublicense as set forth in Section 2.3.1
      (Sublicenses), to make, have made, use, Develop, sell, offer to sell, have
      sold,
      import, export, and otherwise exploit and Commercialize the Compound and
      Products in the Territory.
      Wyeth
      acknowledges that with respect to those Progenics Patent Rights that are
      Controlled by Progenics pursuant to the Third Party Agreements, the foregoing
      license is subject to the rights of the Third Party licensors under such Third
      Party Agreements.

     

    2.2.  Retained
      Rights. Subject
      to the terms and conditions of this Agreement, Progenics retains the
      non-exclusive, non-transferable, non-licensable right under the Progenics
      Technology and Joint Technology only (i) to make, have made, import, export
      and
      use the Compound and Develop the Compound and the Products for the purpose
      of
      performing its obligations under this Agreement, and (ii) to make and use the
      Compound and use the Products for research and development purposes and quality
      control and quality assurance related to the development and commercialization
      of the Excluded Molecules. Other than as set forth in this Section 2.2,
      no
      right is retained by Progenics to offer for sale or sell the Compound to any
      Third Party in the Territory or to make, have made, use, sell, offer for sale,
      import, export or otherwise exploit or Commercialize Products in the
      Territory.

     

    2.3.  Sublicenses

     

    2.3.1.  General.
      Wyeth
      shall have the right to grant Sublicenses of any and all rights granted to
      Wyeth
      under this Agreement to its Affiliates in the Territory, without the requirement
      of any prior approval by Progenics. Except as provided in Section 2.8
      ([*]),
      Wyeth may not Sublicense its obligation to Develop the Products in any Major
      Market Country to a Third Party. In addition, Wyeth shall have the right to
      grant Sublicenses of any and all rights granted to Wyeth under this Agreement
      to
      Commercialize the Products after Regulatory Marketing Approval to any Third
      Party for countries outside the Major Market Countries, without the requirement
      of prior written approval of Progenics. Wyeth shall also have the right on
      a
      Product-by-Product basis to grant Sublicenses of any and all rights granted
      to
      Wyeth under this Agreement to Commercialize Products, after Regulatory Marketing
      Approval, in the Major Market Countries, with the prior written consent of
      Progenics, not to be unreasonably withheld or delayed. It is understood and
      agreed that Progenics’ consent may be reasonably withheld in the event that
      Wyeth seeks to Sublicense its rights to a Third Party that Commercializes a
      prescription pharmaceutical product in a Major Market Country that 

     

    
      
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    competes
      with or addresses similar indications to any Product. Any Sublicense by Wyeth
      in
      the United States shall only be for the purpose of augmenting the
      Commercialization activities in the United States and shall not be for the
      purpose of replacing Wyeth’s Commercialization activities in the United States.
      Wyeth will provide to Progenics a complete and final English language draft
      of
      any Sublicense for comments by Progenics at least ten (10) business days prior
      to entering into such Sublicense and will provide to Progenics a complete and
      final English language copy of each Sublicense within ten (10) business days
      after entering into the Sublicense. Wyeth shall remain responsible for the
      payment to Progenics of all royalties payable under this Agreement with respect
      to Net Sales made by all Wyeth Affiliates or Sublicensees. In connection with
      the granting of any Sublicense, Progenics shall provide Wyeth and the
      Sublicensee (or prospective Sublicensee), at the request of Wyeth, Progenics’
written confirmation of Wyeth’s ongoing rights under this Agreement, including
      the right to grant Sublicenses. Wyeth shall be responsible for the making of
      all
      payments due, and the making of all reports under this Agreement by reason
      of
      the sales of any Products by its Sublicensees. Each Sublicensee shall agree
      in
      writing to keep books and records in accordance with the relevant provisions
      of
      this Agreement. Wyeth shall ensure that each of its Affiliates and permitted
      Sublicensees accepts and complies with all of the terms and conditions of this
      Agreement as if they were a party to this Agreement. 

     

    2.3.2.  Progenics
      Right of First Negotiation. Wyeth
      hereby grants to Progenics a right of first negotiation to be the Sublicensee
      under any Sublicense that Wyeth may elect to grant to any Third Party in any
      Major Market Country (other than [*]), but only if Wyeth determines, in its
      sole
      discretion, that Progenics is capable of performing the activities covered
      by
      the Sublicense in the relevant country or countries, which right of first
      negotiation is granted on the following terms and conditions:

     

    
      	(a)  	
              General.
                Wyeth shall not grant a Sublicense to any Third Party in any Major
                Market
                Country (other than [*]), unless and until
                Wyeth provides a written notice to Progenics (a “Sublicense
                Notice”),
                which notice will identify the general scope and purpose of the Sublicense
                that Wyeth proposes to grant and the Major Market Country or Countries
                to
                which it will apply and will either (A) invite Progenics to negotiate
                regarding such a Sublicense; or (B) inform Progenics that Wyeth has
                determined that Progenics is not capable of performing the activities
                covered by the proposed Sublicense in the relevant country or countries.
                If the Sublicense Notice invites Progenics to negotiate regarding
                a
                Sublicense, Wyeth shall not grant Sublicense to any Third Party in
                the
                relevant country or countries
                until:

            

    

     

    
      	(i)  	
              Progenics
                notifies Wyeth that it declines the opportunity to negotiate with
                Wyeth
                regarding such a Sublicense; 

            

    

     

    
      	(ii)  	
              Progenics
                does not respond to Wyeth within thirty (30) days after receipt of
                the
                Sublicense Notice; or 

            

    

     

    
      	(iii)  	
              the
                Negotiation Period (as defined below) expires before Wyeth and Progenics
                have entered into a Sublicense.

            

    

     

    
      
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      	(b)  	
              Capability
                / Refusal / Failure to Respond.
                If
                (A) Wyeth determines that Progenics is not capable of performing
                the
                activities covered by the proposed Sublicense in the relevant country
                or
                countries, or (B) Progenics responds to the Sublicense Notice by
                declining
                to negotiate with Wyeth regarding the proposed Sublicense, or (C)
                Progenics does not respond to a Sublicense Notice within the thirty
                (30)
                day period provided for in clause (ii) of Section 2.3.2(a) (General),
                then
                Wyeth will have no obligation to negotiate with Progenics with respect
                to
                any Sublicense in the relevant country or countries, and Wyeth will
                be
                free to grant one or more Sublicense to one or more Third Parties
                in such
                country or countries at Wyeth’s sole
                discretion.

            

    

     

    
      	(c)  	
              Consultation
                Regarding Capabilities. Wyeth
                shall not determine that Progenics is not capable of performing the
                activities covered by the proposed Sublicense in the relevant country
                or
                countries unless and until Wyeth has given Progenics a reasonable
                opportunity to make a presentation to Wyeth demonstrating its
                capabilities. Once Wyeth has provided such opportunity to Progenics,
                however, Wyeth may determine whether Progenics is capable of performing
                the activities covered by the Sublicense in the relevant country
                or
                countries in its sole discretion.

            

    

     

    
      	(d)  	
              Negotiation
                Period.
                If
                the Sublicense Notice invites Progenics to negotiate regarding such
                a
                Sublicense and Progenics notifies Wyeth, within thirty (30) days
                after
                receipt of the Sublicense Notice that it desires to negotiate with
                Wyeth
                regarding the proposed a Sublicense, the Parties shall negotiate
                in good
                faith with each other for sixty (60) days (or such longer period
                as
                mutually agreed by the parties) (the “Negotiation
                Period”)
                regarding a mutually satisfactory Sublicense. Neither party shall
                be
                obligated to enter into a Sublicense.
                In
                the event that the Negotiation Period expires before Wyeth and Progenics
                have entered into a Sublicense, Wyeth
                will have no further obligation to negotiate with Progenics with
                respect
                to any Sublicense in the relevant country or countries, and Wyeth
                will be
                free to grant one or more Sublicenses to one or more Third Parties
                in such
                country or countries at Wyeth’s sole discretion, subject to the terms and
                conditions of Section 2.3.1
                (Sublicenses; General). However, if negotiations between the Parties
                end
                without the Parties executing a Sublicense agreement for such country
                or
                countries, then Wyeth shall not enter into any Sublicense of comparable
                scope in such country or countries containing financial terms that
                are
                more favorable to the third party than the financial terms that Progenics
                last offered to Wyeth during the Negotiation Period without first
                offering
                Progenics such Sublicense containing such financial terms; provided,
                however,
                that Wyeth shall not be obligated to first offer such more favorable
                financial terms to Progenics if Wyeth determines, in its sole discretion,
                that Progenics is no longer capable of performing the activities
                covered
                by the Sublicense in the relevant country or countries after once
                again
                giving Progenics an opportunity to make a presentation to Wyeth in
                accordance with Section 2.3.2(c)
                (Consultation Regarding Capabilities). 

            

    

     

    
      
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      	(e)  	
              Termination
                of Right.
                The right of first negotiation granted to Progenics in this Section
                2.3.2
                (Progenics Right of First Negotiation) shall be extinguished upon
                the
                occurrence of a Progenics Change of
                Control.

            

    

     

    2.3.3.  Non-Royalty
      Sublicense Income. Wyeth
      shall pay Progenics [*] percent
      ([15]%) of all Non-Royalty Sublicense Income that Wyeth and its Affiliates
      receive from Sublicensees. Wyeth shall pay Progenics the required percentage
      of
      Non-Royalty Sublicense Income within [*] ([*]) days of receiving such
      Non-Royalty Sublicense Income.

     

    2.4.  Direct
      Licenses to Affiliates.
      Wyeth
      may at any time request and authorize Progenics to grant licenses as to
      countries outside the United States directly to Affiliates of Wyeth outside
      the
      United States by giving written notice designating to whom a direct license
      is
      to be granted. Upon receipt of any such notice, Progenics shall enter into
      and
      sign a separate direct license agreement with such designated Affiliate of
      Wyeth. All such direct license agreements shall be consistent with the terms
      and
      conditions of this Agreement, except for such modifications as may be required
      by the laws and regulations in the country in which the direct license will
      be
      exercised; provided,
      however,
      that
      Progenics shall have no obligation to enter into any such direct license
      agreement if the effect of entering into such agreement (and continuing as
      a
      Party to this Agreement) would be to increase the level of obligations owed
      by
      or risks assumed by Progenics, or decrease the consideration owed to Progenics,
      relative to the obligations owed by, risks assumed by, or consideration owed
      to
      Progenics under this Agreement or otherwise adversely affect Progenics. In
      countries where validity of the direct license agreement requires prior
      government approval or registration, such direct license agreement shall not
      become binding between the parties thereto until such approval or registration
      is granted, which approval or registration shall be obtained by Wyeth. All
      costs
      of making a direct license, including Progenics' reasonable attorneys fees,
      under this Section 2.4
      shall be
      borne by Wyeth.
      Wyeth
      shall be responsible to Progenics for the performance of its Affiliates under
      these direct licenses.

     

    2.5.  Fully
      Paid-Up, Royalty Free License.
      After
      expiration of the Royalty Period for any Product in a country, including any
      extended period under Section 6.5.2 (Extended Exclusivity Based on Wyeth
      Independent Patent Rights), the license granted to Wyeth under Section
2.1
      (Exclusive License from Progenics to Wyeth) with respect to such Product in
      such
      country shall be a fully paid-up, perpetual, non-exclusive, irrevocable,
      royalty-free license, provided,
      however,
      in the
      event that the Royalty Period is resumed under the provisions of Section
1.59
      (Royalty
      Period) the license granted to Wyeth shall revert to its original form until
      the
      Royalty Period resumption ends.

     

    2.6.  Progenics
      Third Party Agreements.
      Progenics shall exercise its rights under the Progenics Third Party Agreements
      in a manner that is as consistent as possible with the terms of this Agreement
      in consultation with and as reasonably requested by Wyeth. Without the prior
      written consent of Wyeth, Progenics shall not voluntarily (i) amend or modify,
      or consent to any action that may be taken under, any Progenics Third Party
      Agreement, the effect of which would adversely affect Wyeth’s rights under this
      Agreement, or (ii) terminate or engage in any act or omission that constitutes
      or would constitute, with or without the giving of notice or the passage of
      time, an event that would permit the licensor under the Progenics Third Party
      Agreements to 

     

    
      
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    terminate
      the Progenics Third Party Agreements. Progenics shall immediately notify Wyeth
      of any such event or of the receipt by Progenics of any notice of breach or
      termination of any Progenics Third Party Agreement. Progenics shall take all
      reasonable actions necessary, or permit such actions to be taken in its name
      by
      Wyeth, to maintain and enforce Progenics' rights under the Progenics Third
      Party
      Agreements in a manner consistent with the terms of this Agreement. Wyeth
      will reimburse Progenics for any non-de
      minimis
      out-of-pocket expenses incurred by Progenics to comply with the previous
      sentence.

     

    2.7.  Know-How
      Transfer.

     

    2.7.1.  Disclosure
      of Know-How. Commencing
      promptly after the Effective Date, Progenics shall disclose the then existing
      Progenics Know-How to Wyeth. During the Term of the Agreement, Progenics shall
      disclose to Wyeth all Progenics Know-How and Joint Know-How that is developed
      by
      Progenics or otherwise comes into Progenics’ Control other than Know-How related
      exclusively to the Excluded Molecules. Furthermore, during the Term of the
      Agreement, Wyeth shall disclose to Progenics any Joint Know-How and Wyeth
      Collaboration Know-How that is related to Progenics Development and
      Commercialization activities under the Agreement or that the JDC or JSC
      determines should be disclosed to Progenics. Any such Know-How disclosure shall
      be accomplished through periodic delivery of documentation and
      meetings/telephone calls on a reasonable schedule agreed by the Parties in
      accordance with Section 2.7.2
      (Transfer of Know-How).

     

    2.7.2.  Transfer
      of Know-How.
      Without
      limiting the generality of Section 2.7.1
      (Disclosure of Know-How), on a mutually agreed periodic basis or at a Party’s
      request within a reasonable time not to exceed thirty (30) days from the date
      of
      the request, each Party shall deliver to the requesting Party copies (for
      documentation and information) or samples (for tangible materials) of any
documents,
      files, diagrams, plans, specifications, designs, recipes, schematics, reports,
      notes, data, models, prototypes, chemical or biological materials, or other
      documentation or tangible materials recording or embodying the Know-How in
      its
      possession required to be disclosed to the requesting Party pursuant to Section
      2.7.1
      (Disclosure of Know-How) or otherwise under this Agreement. In
      addition, on a mutually agreed periodic basis or at a Party’s request,
      technically qualified scientists and engineers from each Party will meet and/or
      participate in telephone conference calls on a reasonable mutually agreed
      schedule as reasonably necessary to fully disclose all such Know-How. An officer
      of Progenics and a representative of Wyeth shall mutually agree from time to
      time on the most appropriate method for the disclosure of Know-How between
      the
      Parties.

     

    2.8.  [*]. 

     

    2.9.  No
      Implied Rights.
      Except
      as expressly provided in this Agreement, neither Party shall be deemed to have
      granted the other Party any license or other right with respect to any
      intellectual property of such Party.

     

    
      
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      	3.  	
              GOVERNANCE
                OF COLLABORATION

            

    

     

    3.1.  Management
      of the Collaboration and General Committee Procedures.

     

    3.1.1.  Overview.
      A Joint
      Steering Committee as defined in Section 3.2
      (Joint
      Steering Committee), a Joint Development Committee as defined in Section 3.3
      (Joint Development Committee) and a Joint Commercialization Committee as defined
      in Section 3.4 (Joint Commercialization Committee) shall be established. Each
      Committee shall have the responsibilities and authority allocated to it in
      this
      Section 3
      (Governance of Collaboration) and elsewhere in this Agreement. The following
      procedures shall apply to the Committees under this Agreement.

     

    3.1.2.  Meetings.
      Each
      Committee shall hold meetings at such times as it elects to do so, but in any
      event the JSC shall meet face-to-face no less than three times per year in
      the
      first two years following the Effective Date, and twice per year thereafter,
      with additional meetings to be called by either co-chairperson of the JSC on
      an
      ad-hoc basis. The JDC shall meet face-to-face no less than three times annually,
      with additional meetings to be called by either co-chairperson of the JDC on
      an
      ad-hoc basis. The JCC shall meet face-to-face no less than three times annually
      through the first two years after the First Commercial Sale of a Product in
      the
      U.S., and thereafter no less than twice annually, with additional meetings
      to be
      called by the chairperson of the JCC or, as necessary, Progenics on an ad hoc
      basis. Ad-hoc meetings may be held face-to-face, by teleconference, video or
      Webex, as determined by the Committee chairpersons. Each face-to-face meeting
      of
      the JSC and JDC shall be held alternatively at Wyeth’s facilities in
      Collegeville, Pennsylvania and Progenics’ facilities in Tarrytown, New York or
      at such locations as the Committee may otherwise agree. Each face-to-face
      meeting of the JCC shall be held at Wyeth’s facilities in Collegeville,
      Pennsylvania or at such locations as the JCC may otherwise agree. Other
      employees of each Party involved in the Development, Commercialization or
      intellectual property protection of Products may attend meetings of such
      Committee as non-voting participants with the permission of the co-chairpersons,
      and, with the consent of each Party, consultants, representatives, or advisors
      involved in the same activities may attend meetings of such Committee as
      non-voting observers; provided,
      however,
      that
      such Third Party representatives are under obligations of confidentiality and
      non-use applicable to the Confidential Information of each Party that are at
      least as stringent as those set forth in Section 8 (Confidentiality).
      Each Party shall be responsible for all its own expenses of participating in
      any
      Committee. 

     

    3.1.3.  Decision
      Making. Each
      Party’s designees on the JSC and JDC shall, collectively, have one (1) vote (the
      “Party
      Vote”)
      on all
      matters brought before the respective Committee. Except as expressly provided
      in
      this Section 3.1.3,
      each of
      the JSC and JDC shall decide as to all matters within its jurisdiction by
      unanimous Party Vote; provided,
      however,
      that
      neither the JSC nor the JDC shall have the authority to amend or modify, or
      waive compliance with, this Agreement. In the event of a tie Party Vote of
      the
      designees of Wyeth and Progenics on the JDC as to matters within such the
      jurisdiction of such Committee, the co-chairpersons of the JDC shall refer
      the
      matter to 

     

    
      
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    the
      JSC
      for resolution. In the event that such a matter cannot be resolved by the JSC
      within ten (10) business days of it being referred to the JSC, or in the event
      of a tie Party Vote of the designees of Wyeth and Progenics on the JSC with
      respect to any other matter within the JSC’s jurisdiction, the co-chairpersons
      of the JSC shall refer the matter to [*]. In the event that such matters cannot
      be resolved by these executives within [*] ([*]) business days, then the matter
      shall be referred to the [*]. If after good faith discussions by the [*],
      agreement cannot be reached within [*] ([*]) business days, then the [*] shall
      decide upon a mechanism to resolve the matter. 

     

    3.1.4.  Meeting
      Agendas.
      Each
      Party will have an equal right to place items on the JSC and JDC agendas through
      the co-chairperson of the JSC or JDC designated by such Party. Wyeth shall
      generally set the agenda for the JCC, but Progenics may place particular topics
      on the agenda for discussion at any JCC meeting by giving the JCC chairperson
      written notice of Progenics’ desire to discuss such topic. Each Party will
      disclose to the other Party its proposed agenda items along with appropriate
      information at least five (5) business days in advance of each Committee
      meeting; provided,
      however,
      that
      under exigent circumstances requiring JSC or JDC input, a Party may provide
      its
      agenda items for a JSC or JDC meeting to the other Party within a lesser period
      of time in advance of the meeting, or may propose that there not be a specific
      agenda for a particular JSC or JDC meeting, so long as the other Party consents
      to such later addition of such agenda items or the absence of a specific agenda
      for such JSC or JDC meeting.

     

    3.2.  Joint
      Steering Committee (JSC).

     

    3.2.1.  Formation
      and Purpose. Within
      fifteen (15) days after the Effective Date, Wyeth and Progenics shall establish
      the JSC, which shall coordinate the Parties’ key activities under this Agreement
      and have the additional responsibilities provided for in this
      Agreement.
      The JSC
      will dissolve upon the expiration of the Term of this Agreement.

     

    3.2.2.  Membership
      and Chairpersons. Each
      party shall designate two (2) senior executives with appropriate expertise
      to
      serve as members of the JSC. Each Party may replace any of its JSC
      representatives at any time upon written notice to the other Party. The JSC
      shall have two co-chairpersons, one designated by each of Wyeth and Progenics.
      The co-chairpersons shall be responsible for calling meetings, preparing and
      circulating an agenda in advance of each meeting of the JSC, and preparing
      and
      issuing minutes of each meeting within thirty (30) days thereafter. Such minutes
      will not be finalized until each Party reviews and confirms the accuracy of
      such
      minutes in writing or by unanimous Party Vote at a subsequent Committee
      meeting.

     

    3.2.3.  Specific
      Responsibilities of the JSC.
      The JSC
      shall have responsibility for the overall strategic and operational direction
      of
      the Parties’ collaboration under this Agreement, including without
      limitation:

     

    (a)  [*];

     

    
      
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    (b)  [*];

     

    (c)  [*];

     

    (d)  [*];

     

    (e)  [*];

     

    (f)  [*];

     

    (g)  [*];
      

     

    (h)  [*];
      and

     

    (i)  [*].

     

    3.3.  Joint
      Development Committee (JDC).

     

    3.3.1.  Formation
      and Purpose.
      Within
      fifteen (15) days after the Effective Date, the Parties shall establish the
      JDC,
      which shall oversee, coordinate and expedite the Development of, and the making
      of regulatory submissions for, the Products in order to obtain Regulatory
      Approvals. At any time that any Products are being Developed under this
      Agreement, the JDC shall exist and receive and comment upon periodic reports
      concerning the status of Product Development and the Development Plan. The
      JDC
      shall also facilitate the flow of information with respect to Development
      activities being conducted and will oversee all clinical trials for any Product,
      excluding Phase 4 Clinical Trials which shall be the sole responsibility of
      Wyeth. 

     

    3.3.2.  Membership
      and Chairpersons. Each
      Party shall designate three (3) representatives with appropriate expertise
      to
      serve as members of the JDC. Each Party may replace its JDC representative
      at
      any time upon written notice to the other Party. The JDC shall have two
      co-chairpersons, one designated by each of Progenics and Wyeth. The chairpersons
      shall be responsible for calling meetings, preparing and circulating an agenda
      in advance of each meeting of the JDC, and preparing and issuing minutes of
      each
      meeting within thirty (30) days thereafter. Such minutes will not be finalized
      until each Party reviews and confirms the accuracy of such minutes in writing
      or
      by unanimous Party Vote at a subsequent meeting of the Committee.

     

    3.3.3.  Specific
      Responsibilities of the JDC.
      The JDC
      shall have responsibility for overseeing, coordinating and expediting the
      Development of the Compound and the Products, including without
      limitation:

     

    (a)  [*];

     

    (b)  [*];

     

    (c)  [*];

     

    
      
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    (d)  [*];

     

    (e)  [*];

     

    (f)  [*];

     

    (g)  [*];

     

    (h)  [*];
      

     

    (i)  [*];

     

    (j)  [*];
      and

     

    (k)  [*].

     

    3.3.4.  Working
      Groups.
      From
      time to time the JDC may establish and delegate duties to other committees,
      sub-committees, or directed teams (each a “Working
      Group”)
      on an
“as needed” basis to oversee particular projects or activities. Each such
      Working Group shall be constituted and shall operate as the JDC determines.
      Working Groups may be established on an ad hoc basis for purposes of a specific
      project for the life of a Product, or on such other basis as the applicable
      Committee may determine. Each Working Group and its activities shall be subject
      to the oversight, review and approval of, and shall report to the JDC. In no
      event shall the authority of any Working Group exceed that specified for the
      JDC
      in this Section 3 (Governance
      of the Collaboration).

     

    3.4.  Joint
      Commercialization Committee (JCC).

     

    3.4.1.  Formation
      of JCC.
      Within
      sixty (60) days of the Effective Date, the Parties shall establish the JCC,
      which shall facilitate the exchange of information between the Parties regarding
      the Commercialization of the Products. 

     

    3.4.2.  Membership.
      The
      JCC
      shall be composed of representatives selected by both Parties in number and
      function according to the responsibilities of each Party. The chairperson of
      the
      JCC shall be designated by Wyeth.

     

    3.4.3.  Responsibilities
      of the JCC.
      The JCC
      shall have responsibility for facilitating open communication between the
      Parties on matters relating to the Commercialization of Products. The JCC shall
      not be a voting body. Decisions with respect to Commercialization of the Product
      will be made solely by Wyeth consistent with this Agreement and the Co-Promotion
      Agreement.

     

    
      	4.  	
              DEVELOPMENT

            

    

     

    4.1.  Development
      Plan. The
      Development of the Products will be conducted by or on behalf of the Parties
      pursuant to a mutually agreed development plan that will govern all aspects
      of
      Development of the Products worldwide (as such plan is in effect from time
      to
      time, the 

     

    
      
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    “Development
      Plan”).
      An
      outline of the initial Development Plan for a SC Product, IV Product and Oral
      Product has been agreed by the Parties. This outline shall not include a
      development plan for [*]. The JDC shall be responsible for reviewing and
      endorsing the Development Plan. The Development Plan for the Products shall
      be
      updated on an as-needed basis, but in no event less than once
      annually.
      The
      Parties shall cause the JDC to complete the initial Development Plan for the
      SC
      Product, IV Product and Oral Product within ninety (90) days of the Effective
      Date. [*]. In addition, unless such information is included in the Development
      Plan itself, with each update of the Development Plan Wyeth shall provide the
      JDC with a written summary of the human resources that Wyeth expects to deploy
      to accomplish its responsibilities under the Development Plan.

     

    4.2.  Development
      Responsibilities of the Parties.

     

    4.2.1.  Progenics
      Development Responsibilities.
      Progenics shall be responsible for and shall use Commercially Reasonable Efforts
      to:

     

    (a)  Develop
      the SC Product and the IV Product in the United States in accordance with the
      Development Plan and the Progenics Development Cost Budget until these Products
      receive Regulatory Marketing Approval in the U.S., including without limitation
      (i) preparing and submitting and/or revising and amending Registrational
      Filings, (ii) conducting and managing all clinical trials included in the
      Development Plan, and (iii) obtaining and maintaining Regulatory Approvals
      for
      the SC Product and IV Product;

     

    (b)  perform
      the work to be performed by Progenics under the Development Plan in accordance
      with their estimated timelines;

     

    (c)  perform
      any other work necessary and appropriate as determined by the JDC and otherwise
      cooperate with Wyeth in support of Wyeth’s efforts under the Development
      Plan;

     

    (d)  disclose
      to Wyeth all data, information and other Progenics Know-How and Joint Know-How
      reasonably necessary in support of Development of the Products; and

     

    (e)  manufacture
      through contract manufacturers (approved in the Development Plan or by agreement
      of the Parties) 100% of the Parties’ requirements of the Compound and/or
      Products for Development; it being understood and agreed that any Compound
      and/or Product supplied by Progenics for clinical use shall be manufactured
      under GMP conditions. The Parties will transfer responsibility for the supply
      of
      the Compound and or Products for Development to Wyeth at a mutually agreed
      time
      as soon as reasonably and commercially practicable consistent with Progenics’
current contractual obligations. The
      Parties will enter into a Quality Agreement for clinical trial supplies of
      Compound and/or Product within sixty (60) days of the Effective
      Date.

     

    
      
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    4.2.2.  Wyeth
      Development Responsibilities.
      Wyeth
      shall be responsible for and shall use Commercially Reasonable Efforts
      to:

     

    (a)  Develop
      the Oral Product in the Territory in accordance with the Development Plan,
      including without limitation (i) preparing and submitting and/or revising and
      amending Registrational Filings, (ii) conducting and managing all clinical
      trials included in the Development Plan, and (iii) obtaining and maintaining
      Regulatory Approvals for the Oral Product;

     

    (b)  Develop
      the SC Product and IV Product outside the United States in accordance with
      the
      Development Plan, including without limitation (i) preparing and submitting
      and/or revising and amending Registrational Filings, (ii) conducting and
      managing all clinical trials included in the Development Plan, and (ii)
      obtaining and maintaining Regulatory Approvals for the SC Product and IV
      Product;

     

    (c)  perform
      the work to be performed by Wyeth under the Development Plan in accordance
      with
      their estimated timelines;

     

    (d)  perform
      any other work necessary and appropriate as determined by the JDC and otherwise
      cooperate with Progenics in support of Progenics' efforts under the Development
      Plan;

     

    (e)  disclose
      to Progenics all data, information and other Wyeth Collaboration Know-How and
      Joint Know-How reasonably necessary in support of Development of the Products;
      

     

    (f)  determine,
      in Wyeth’s sole discretion, whether to perform any Phase 4 Clinical Trials for
      any Product, and conduct and manage any such Phase 4 Clinical Trial and any
      Phase 4 Clinical Trial required by any Regulatory Authority; 

     

    (g)  if
      the
      JSC determines to Develop any Combination Product or Product formulation other
      than the Oral Product, SC Product or IV Product, or any other indication for
      a
      Product, Develop such Product or indication in accordance with the Development
      Plan, including without limitation (i) preparing and submitting and/or revising
      and amending Registrational Filings for such Product, (ii) conducting and
      managing all clinical trials included in the Development Plan for such Products,
      and (iii) obtaining and maintaining Regulatory Approvals for such Products;
      and

     

    (h)  upon
      the
      transfer of responsibility for the supply of the Compound and/or Products for
      Development from Progenics to Wyeth as required by 4.2.1(e)
      (Progenics Development Responsibilities) and the transfer of Know-How and the
      assignment of agreements as required by Section 5.3.2
      (Transfer of Manufacturing Know-How) and 5.3.3
      (Assignment of Supply and License Agreements), manufacture either directly
      through a contract manufacturer 

     

    
      
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    100%
      of
      the Parties’ requirements of Compound and/or Products for Development, it being
      understood that all Compound and/or Product supplied by Wyeth for clinical
      use
      shall be manufactured under GMP conditions.

     

    4.2.3.  Efforts.
      Wyeth’s
      obligations under Section 4.2.2 (Wyeth Development Responsibilities) to use
      Commercially Reasonable Efforts will be satisfied if Wyeth uses Commercially
      Reasonable Efforts in the Major Market Countries. Wyeth shall not be in breach
      of its obligation under this Section 4.2
      (Development Responsibilities of the Parties) for failing to use Commercially
      Reasonable Efforts in countries other than the Major Market Countries.
      Furthermore, Wyeth shall be relieved of its obligation to use Commercially
      Reasonable Efforts in any particular country if a Third Party Controls Patent
      Rights that would be infringed by the making, using, or selling of a Product
      in
      such country and Wyeth or its Affiliates or Sublicensee(s) are unable to obtain
      a license under such Patent Rights on commercially reasonable terms or configure
      the Product so as to avoid infringement through the use of Commercially
      Reasonable Efforts.

     

    4.3.  Unforeseen
      Events.
      The
      Parties recognize that the Development Plan and the objectives set forth therein
      are based upon numerous assumptions which are not in the control of the Parties.
      In view of the numerous assumptions underlying the Development Plan, the
      proposed timeframe for achieving the objectives and events described in the
      Development Plan will be regularly reviewed by the JDC to reflect unforeseen
      matters. In the event that despite the use of Commercially Reasonable Efforts
      by
      the Parties, safety, toxicology, formulation, manufacturing, regulatory, or
      other issues beyond the control of the Parties arise that prevent either Party
      from fulfilling the objectives of the Development Plan within the timeframe
      set
      forth in the Development Plan, the JDC will discuss any appropriate revisions
      to
      the Development Plan, which revisions the other Party shall not unreasonably
      oppose, provided that the Party can demonstrate its use of Commercially
      Reasonable Efforts to Develop the Product.

     

    4.4.  Subcontracting.
      Each
      Party may contract with one or more Outside Contractors to perform any or all
      of
      its obligations under the Development Plan; provided,
      however,
      that
      (i) except as otherwise agreed to by the JDC each Outside Contractor shall
      be approved by the JDC for the proposed work, such approval not to be
      unreasonably withheld; and (ii) the contracting Party provides the other
      Party with a true and accurate copy of each agreement pursuant to which such
      Outside Contractor is engaged promptly after execution thereof.

     

    4.5.  Records.
      Each
      Party shall maintain, and shall use Commercially Reasonable Efforts to cause
      its
      Outside Contractors to maintain, accurate and complete records of all activities
      related to the Development of the Products, as consistent with the
      responsibilities of such Party under this Agreement, and all results of any
      trials, studies and other investigations conducted under this Agreement by
      or on
      behalf of such Party, and its Affiliates and Outside Contractors, as
      applicable.

     

    4.6.  Reports
      on Development.
      For so
      long as either Party continues to Develop a Product under this Agreement, it
      shall provide the other Party and the JDC with periodic reports containing
      relevant information regarding data and results, activities, and timelines,
      related to regulatory filings and clinical trials of such Product conducted
      or
      overseen by such Party. In addition, through its representatives on the JDC,
      each Party shall make periodic oral reports to 

     

    
      
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    the
      JDC,
      updating the JDC as to the status and results of such Party’s Development
      efforts with respect to any Product, for so long as the JDC continues in
      existence.

     

    
      	5.  	
              CO-PROMOTION
                OPTION AND
                COMMERCIALIZATION

            

    

     

    5.1.  Co-Promotion
      Option. Subject
      to the terms and conditions of this Section 5.1
      and the
      other provisions of this Agreement, Wyeth hereby grants to Progenics an option
      (the "Co-Promotion
      Option")
      to
      enter into a Co-Promotion Agreement with Wyeth substantially in the form
      attached to this Agreement as Exhibit
      B
      (the
“Co-Promotion
      Agreement”),
      under
      which Progenics would detail one or more Products to the defined audiences
      in
      the Co-Promotion Territory. Progenics
      may exercise the Co-Promotion Option by providing Wyeth with written notice
      of
      exercise of the Co-Promotion Option (which notice shall indicate the initial
      number of sales representatives that Progenics desires to field), at least
      [*]
      ([*]) months prior to the beginning of the Calendar Year during which Progenics
      wishes to co-promote the Products, except in the case where Progenics wishes
      to
      commence co-promotion with the launch of a Product, in which case Progenics
      shall provide Wyeth with written notice no later than [*] ([*]) days after
      the
      filing of the NDA related to the Product. Upon the exercise of the Co-Promotion
      Option, the Parties shall promptly enter into the Co-Promotion
      Agreement. 

     

    5.2.  Wyeth’s
      Commercialization Responsibilities and Efforts. 

     

    5.2.1.  Responsibilities.
      Wyeth
      shall be responsible for the Commercialization of the SC, IV and Oral Products
      and such other Products as the JSC shall determine it is advisable to Develop
      throughout the Territory and, subject to Section 6.2 (Post-Effective Date
      Development Expenses), shall pay 100% of the costs of Commercialization of
      the
      Products. Except as provided in the Co-Promotion Agreement, Wyeth shall be
      solely responsible for the Commercialization of Products throughout the
      Territory. Without limiting the foregoing, Wyeth shall be solely responsible
      for
      distribution and pricing of Products and shall book all sales of Products in
      the
      Territory. 

     

    §  Efforts.
      Wyeth
      shall use Commercially Reasonable Efforts to pre-launch, launch, promote,
      market, distribute, sell in finished pharmaceutical form, and otherwise
      Commercialize Products in the Territory. Commercially Reasonable Efforts
      expended by a Sublicensee in a given country which is not a Major Market Country
      shall satisfy Wyeth’s efforts obligations in that country. Wyeth’s
      Commercialization efforts shall include, without limitation, using Commercially
      Reasonable Efforts to commit sales, marketing and detail resources and provide
      marketing and promotional materials and efforts for the Products. Wyeth’s
      obligations under this Section 5.2 (Wyeth’s Commercialization Responsibilities
      and Efforts) to use Commercially Reasonable Efforts will be satisfied if Wyeth
      uses Commercially Reasonable Efforts in the Major Market Countries. Wyeth shall
      not be in breach of its obligation under this Section 5.2
      (Wyeth’s
      Commercialization Responsibilities and Efforts) for failing to use Commercially
      Reasonable Efforts outside the Major Market Countries. Furthermore, Wyeth shall
      be relieved of its obligation to use Commercially Reasonable Efforts with
      respect to a Product in any particular country if a Third Party Controls Patent
      Rights that would be infringed by the making, using, or selling of such Product
      in such country and 

     

    
      
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    Wyeth
      or
      its Affiliates or Sublicensee(s) are unable to obtain a license under such
      Patent Rights on commercially reasonable terms or configure the Product so
      as to
      avoid infringement through the use of Commercially Reasonable
      Efforts.

     

    5.3.  Supply.

     

    5.3.1.  Supply.
      Wyeth
      shall be solely responsible at its expense for the manufacture and supply of
      100% of the Compound and finished Products for Commercialization both as bulk
      active pharmaceutical ingredient (API) and as finished and packaged
      products.

     

    5.3.2.  Transfer
      of Manufacturing Know-How. Progenics
      will disclose to Wyeth, a Wyeth Affiliate, and/or Wyeth’s Third Party contract
      manufacturer all relevant Progenics Know-How relating to the manufacture of
      the
      Compound and/or Products. Without limiting the generality of the foregoing,
      at
      Wyeth’s request, Progenics will deliver to Wyeth, a Wyeth Affiliate, and/or
      Wyeth’s Third Party contract manufacturer copies (for documents and information)
      and samples (for materials) of any documents,
      files, diagrams, plans, specifications, designs, recipes, schematics, reports,
      models, prototypes, chemical or biologic materials, or other tangible
      documentation or material in Progenics’ possession relating to the manufacture
      of the Compound and Products.
      In
      addition, at Wyeth’s request, and on a commercially reasonable schedule and at a
      commercially reasonable venue to be agreed on by the Parties, technically
      qualified personnel from each Party will meet and/or participate in telephone
      conference calls as reasonably necessary to exchange knowledge necessary to
      fully disclose all such Progenics Know-How.

     

    5.3.3.  Assignment
      of Supply and License Agreements.
      At
      Wyeth’s written request in connection with the transfer of responsibility for
      manufacture under Section 4.2.1(e)
      (Progenics Development Responsibilities), Progenics shall use Commercially
      Reasonable Efforts to promptly assign and transfer to Wyeth any existing supply
      agreements related to the supply of the Compound or the Products, including
      its
      supply agreements with Mallinckrodt Inc. and
      DSM
Pharmaceuticals,
      Inc. Furthermore, to the extent necessary to permit Wyeth to manufacture the
      Compound and Products as contemplated by this Agreement, Progenics shall use
      Commercially Reasonable Efforts to Sublicense to Wyeth any license agreement
      under which Progenics licenses any intellectual property rights from any Third
      Party related to the manufacture of the Compound or the Products. If the terms
      of any of the agreements referred to in the previous two sentences require
      the
      consent of the other party thereto to affect its assignment, then upon Wyeth’s
      request for an assignment, until Progenics is able to obtain such consent and
      affect such assignment Progenics will exercise its rights under such agreements
      for the benefit of Wyeth and as reasonably requested by Wyeth. In the event
      of
      any assignment to Wyeth under this Section 5.3.3,
      Wyeth
      shall assume full responsibility for satisfying all obligations of Progenics
      under any assigned agreement to the extent arising after such assignment and
      assumption.

     

    5.4.  Marketing
      Materials and Corporate Branding.
      Wyeth
      shall be solely responsible at its expense for all pre-marketing and marketing
      efforts and for creating all 

     

    
      
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    packaging
      and promotional materials for the Products. Subject to Progenics’ reasonable
      approval, the corporate name of Progenics shall appear on all Product packaging
      in the Territory and the Progenics corporate name and logo shall appear on
      the
      package insert for all Products in the Co-Promotion Territory, subject, in
      each
      case, to compliance with applicable law and regulatory requirements.
      In
      addition, if the Parties enter into the Co-Promotion Agreement, the Progenics
      corporate name and logo shall appear on all promotional materials for the
      Products in the Co-Promotion Territory, subject to compliance with applicable
      law and regulatory requirements.

     

    5.5.  Sharing
      of Information; Progenics Commercial Organization. 

     

    5.5.1.  Sharing
      of Information. Wyeth
      shall provide Progenics with a copy of Wyeth’s commercialization plan for the
      Products and any updates thereof, including without limitation information
      regarding strategies for Commercialization and detailing of Products, market
      research and strategy, promotional activities, and sales plans and forecasts,
      and shall report to Progenics on the progress in its implementation of the
      commercialization plan through the JCC. Commencing on the Effective Date,
      Progenics shall have the right to have a representative of Progenics attend
      meetings of Wyeth’s sales and marketing team for the Product at Progenics’
expense.
      All such
      commercial information shall be Wyeth’s Confidential Information for the
      purposes of Section 8.1
      (Confidentiality).

     

    5.5.2.  Progenics
      Commercial Goals. Wyeth
      recognizes Progenics’ long term desire to build a commercial organization and
      shall assist Progenics in Progenics’ planning to establish its commercial
      organization. Commencing on the Effective Date, Progenics shall have the right
      to have a representative of Progenics participate as a regular, full-time member
      of the Wyeth brand team for the Products at Progenics’ expense. Wyeth shall
      provide such Progenics representative with a regular office at its Collegeville,
      PA facility to facilitate his or her participation on the brand team, but such
      representative shall at all times remain a Progenics employee. 

     

    
      	6.  	
              PAYMENTS
                BY WYETH TO PROGENICS.

            

    

     

    6.1.  Reimbursement
      of Pre-Effective Date Development Costs.
      Wyeth
      shall pay Progenics sixty million dollars ($60,000,000) within five (5) business
      days of the Effective Date as partial reimbursement of research and development
      costs incurred by Progenics to Develop the Compound prior to the Effective
      Date.
      This
      payment is nonrefundable and noncreditable.

     

    6.2.  Post-Effective
      Date Development Costs.  

     

    6.2.1.  Assumption
      of Progenics Development Costs.
      Beginning on January 1, 2006, Wyeth shall reimburse to Progenics 100% of the
      Progenics Development Costs in addition to paying 100% of Wyeth’s own
      Development costs and expenses,
      subject
      to the terms and conditions of this Section 6.2.

     

    6.2.2.  Payment
      of Expenses; Development Accounts; Reimbursement.
      Progenics shall be responsible and pay for all Progenics Development Costs,
      subject to 

     

    
      
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    reimbursement
      by Wyeth as provided in this Section 6.2
      (Post-Effective Date Development Expenses). Subject to the limitations set
      forth
      in Section 6.2.3
      (Expense
      Limitations), Progenics shall charge all Progenics Development Costs incurred
      by
      it or its Affiliates to a separate account created by Progenics on its books
      and
      records solely for the purpose of tracking Progenics Development Costs (the
      “Development
      Account”).
      Before the start of each Calendar Quarter, Progenics shall submit to Wyeth,
      based on the most recent Progenics Development Cost Budget approved by the
      JSC
      or agreed by the Parties, a written good faith estimate of expenses that will
      be
      charged to its Development Account during such Calendar Quarter. Wyeth shall
      pay
      to Progenics the amount of that estimate (the “Estimated
      Quarterly Development Costs”)
      within
      thirty (30) days of start of the Calendar Quarter. Within fifteen (15) days
      after the end of each Calendar Quarter, Progenics shall submit to the Wyeth
      a
      written summary of all expenses actually charged to its Development Account
      during such Calendar Quarter together with reasonable supporting documentation
      for such expenses (the summary and documentation, collectively, the
“Development
      Cost Summary”).
      If
      the estimated payment for that Calendar Quarter was less than the amount of
      Progenics Development Costs actually incurred by Progenics in that Calendar
      Quarter, Wyeth shall make a reconciling payment to Progenics at the same time
      as
      Wyeth pays Progenics Estimated Quarterly Development Costs for the following
      Calendar Quarter. If the estimated payment for that Calendar Quarter was more
      than the amount of Progenics Development Costs actually incurred by Progenics
      in
      that Calendar Quarter, Wyeth shall offset the amount of such excess against
      the
      payment of the Estimated Quarterly Development Costs for the following Calendar
      Quarter.
      If
      Progenics fails to submit the Development Cost Summary for a Calendar Quarter
      within fifteen (15) days of the end of such Calendar Quarter as required by
      this
      Section 6.2.2,
      then
      Wyeth may delay payment of the Estimated Progenics Development Costs for the
      following Calendar Quarter by the number of days that such Development Cost
      Summary is late.

     

    6.2.3.  Expense
      Limitations and Progenics Development Cost Budget.
      Wyeth
      shall not be required to reimburse Progenics for any Progenics Development
      Costs
      to the extent that they exceed the amount budgeted for that Calendar Year in
      the
      most recent Progenics Development Cost Budget approved by the JSC or agreed
      by
      the Parties, unless the JDC approves such excess Progenics Development Costs.
      The efforts of the employees of Progenics or its Affiliates in performing
      activities under this Agreement shall be charged to Progenics’ Development
      Account at the FTE Rate. Only those efforts that are contemplated by the
      applicable Development Plan shall be chargeable by Progenics to its Development
      Account. All payments made by Progenics to a Third Party in connection with
      the
      performance of its activities under a Development Plan shall be charged to
      Progenics’ Development Account at Progenics’ actual out-of-pocket
      cost.
      At the
      time of the annual update of the Development Plan for the Products, the
      Progenics Development Cost Budget shall also be approved, as determined by
      the
      JSC. If the JSC is unable to agree on any changes to the Progenics Development
      Cost Budget, then Progenics shall be entitled to continue its spending for
      activities budgeted in the most recent Progenics Development Cost Budget
      approved by the JSC or agreed by the Parties for which Wyeth shall reimburse
      Progenics in 

     

    
      
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    accordance
      with Section 6.2.2 (Payment of Expenses; Development Accounts;
      Reimbursement).

     

    6.2.4.  Payments
      Under Third Party Agreements.
      Progenics shall be solely responsible for all obligations under the Progenics
      Third Party Agreements (including, without limitation, any such obligations
      that
      relate to the Progenics Technology). Wyeth shall be solely responsible for
      any
      obligations under agreements with Third Parties entered into by Wyeth or its
      Affiliates or its Sublicensees after the Effective Date related to the
      Development or Commercialization of the Products. As to the [*], Progenics
      shall
      be responsible for [*] under the [*] if no Product is developed that would
      require the payment of a royalty under the [*]. In the event that the JSC
      determines to Develop a Product that [*], Wyeth shall [*].

     

    6.2.5.  Records
      and Audits.
      Progenics shall keep and maintain accurate and complete records showing the
      expenses incurred by it in performing its activities under the Development
      Plan
      during the three (3) preceding Calendar Years, which books and records shall
      be
      in sufficient detail such that Development Expenses can accurately be
      determined. Upon fifteen (15) days prior written notice from Wyeth, Progenics
      shall permit an independent certified public accounting firm of nationally
      recognized standing, selected by Wyeth and reasonably acceptable to Progenics,
      to examine, at Wyeth’s sole expense, the relevant books and records of Progenics
      and its Affiliates as may be reasonably necessary to verify the reports
      submitted by the Audited Party in accordance with Section 6.2.2
      (Payment
      of Expenses; Development Accounts; Reimbursement). An examination by Wyeth
      under
      this Section 6.2.5 shall occur not more than once in any Calendar Year and
      shall
      be limited to the pertinent books and records for any Calendar Year ending
      not
      more than three (3) years before the date of the request. The accounting firm
      shall be provided access to such books and records at Progenics’ facility(ies)
      where such books and records are normally kept and such examination shall be
      conducted during Progenics’ normal business hours. Progenics’ may require the
      accounting firm to sign a standard non-disclosure agreement before providing
      the
      accounting firm access to the Audited Party’s facilities or records. Upon
      completion of the audit, the accounting firm shall provide both Wyeth and
      Progenics a written report disclosing whether the reports submitted by Progenics
      are correct or incorrect and the specific details concerning any discrepancies.
      No other information shall be provided to Wyeth. If the accounting firm
      concludes that Progenics overstated its Development Expenses and Wyeth overpaid
      Progenics for Progenics Development Costs as a result, Progenics shall promptly
      pay Wyeth the amount of such overpayment plus interest, which shall be
      calculated at the average of the prime rate reported by JPMorgan Chase, New
      York
      City, each month during the period from the time any royalty payment was due
      until paid in full, plus two percent (2%) per annum. Additionally, if the
      accounting firm concludes that any report submitted by Progenics overstated
      the
      Progenics Development Costs by more than [*] percent ([*]%), Progenics shall
      reimburse Wyeth for the out-of-pocket expenses incurred by Wyeth in conducting
      the audit. Wyeth shall not reveal to such accounting firm the conditions under
      which the audit expenses are to be reimbursed hereunder. If the accounting
      firm
      concludes that Progenics understated its Development Expenses and Wyeth
      underpaid 

     

    
      
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    Progenics
      for Progenics Development Costs as a result, Wyeth shall promptly pay such
      amount to Progenics, without interest.

     

    6.2.6.  Confidentiality.
      All
      financial information of Progenics which is subject to review under this Section
      6
      (Payments by Wyeth to Progenics) shall be deemed to be Progenics’ Confidential
      Information subject to the provisions of Section 8
      (Confidentiality) hereof, and Wyeth shall not disclose such Confidential
      Information to any Third Party or use such Confidential Information for any
      purpose other than reviewing progress made or verifying payments to be made
      by
      Wyeth to Progenics hereunder; provided,
      however,
      that
      such Confidential Information may be disclosed by Wyeth to Third Parties only
      to
      the extent necessary to enforce Wyeth's rights under this
      Agreement.

     

    6.3.  Development
      Payments.
      In
      partial consideration for the licenses granted to Wyeth under Section
2
      (License
      Grants and Related Matters) hereof, Wyeth shall pay to Progenics the following
      one-time nonrefundable, noncreditable research and development payments
      (“Development
      Payments”)
      within
      thirty (30) days of the satisfaction of each of the following conditions.
      [*]. 

     

    
      	
              Condition

            	
              Payment

            
	 	 
	
              SC
                Product:

            	 
	
              ·  [*]

            	
              $[*]

            
	
              ·  [*]
                

            	
              $[*]

            
	
              ·  [*]

            	
              $[*]

            
	
              ·  [*]

            	
              $[*]

            
	
              ·  [*]

            	
              $[*]

            
	
              ·  [*]

            	
              $[*]

            
	 	 
	
              IV
                Product:

            	 
	
              ·  [*]

            	
              $[*]

            
	
              ·  [*]

            	
              $[*]

            
	
              ·  [*]

            	
              $[*]

            
	
              ·  [*]

            	
              $[*]

            
	
              ·  [*]

            	
              $[*]

            
	
              ·  [*]

            	
              $[*]

            
	
              ·  [*]

            	
              $[*]

            
	 	 
	
              Oral
                Product:

            	 
	
              ·  [*]

            	
              $[*]

            
	
              ·  [*]

            	
              $[*]

            
	
              ·  [*]

            	
              $[*]

            
	
              ·  [*]

            	
              $[*]

            
	
              ·  [*]

            	
              $[*]

            

    

    
      
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              ·  [*]

            	
              $[*]

            
	
              ·  [*]

            	
              $[*]

            

    

    *
      Condition satisfied only upon the occurrence of both (a) Regulatory Marketing
      Approval and (b) the earlier of Regulatory Pricing Approval or the First
      Commercial Sale of the applicable Product.

    

    +
      No
      Development Payment will be due to Progenics under this Agreement for the
      achievement of these milestones in [*] if the license granted to Wyeth under
      Section 2.1
      (Exclusive License from Progenics to Wyeth) terminates with respect to [*]
      and
      rights to Develop and Commercialize the Products in [*] revert to Progenics
      pursuant to Section 2.8
      ([*]).

    

    6.4.  Commercialization
      Milestone Payments. In
      partial consideration for the licenses granted to Wyeth under Section
2
      (License
      Grants and Related Matters) hereof, Wyeth shall pay to Progenics the following
      one-time nonrefundable, noncreditable commercialization milestone payments
      (“Commercialization
      Payments”)
      within
      thirty (30) days of the satisfaction of each of the following conditions. Each
      Commercialization Payment is payable one time only, regardless of the number
      of
      times the condition is satisfied. 

     

    
      	
              Condition

            	
              Payment

            
	 	 
	
              ·  [*]

            	
              $[*]

            
	
              ·  [*]

            	
              $[*]

            
	
              ·  [*]

            	
              $[*]

            

    

    

    6.5.  Royalty
      Payments.

     

    6.5.1.  Royalties.
      In
      partial consideration for the licenses granted to Wyeth under Section
2
      (License
      Grants and Related Matters) hereof, during the Royalty Period, Wyeth shall
      pay
      to Progenics royalties in the amount of the Applicable Net Sales Percentage
      (as
      set forth below) of the Net Sales made during the Royalty Period, which
      Applicable Net Sales Percentage will increase as Net Sales of Products in the
      relevant territory increase during each Calendar Year during the Royalty Period
      as follows: 

     

    
      	
              U.S.
                Combined Net Sales of 

              All
                Products

            	
              Applicable
                Net Sales 

              Percentage

            
	
              [*]

            	
              [*]%

            
	
              [*]

            	
              [*]%

            
	
              [*]

            	
              [*]%

            
	
              [*]

            	
              [*]%

            

    

    

    
      
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              [*]

            	
              [*]%

            
	
              Ex-U.S.
                Worldwide Combined Net 

              Sales
                of All Products

            	
              Applicable
                Net Sales 

              Percentage

            
	
              [*]

            	
              [*]%

            
	
              [*]

            	
              [*]%

            
	
              [*]

            	
              [*]%

            

    

    

    6.5.2.  Extended
      Exclusivity Based on Wyeth Independent Patent Rights.
      If the
      Royalty Period has expired (and has not resumed) for a particular Product in
      a
      particular country but (A) the manufacture, use, sale, or importation of such
      Product by an unlicensed Third Party in such country would infringe a Valid
      Claim of a Wyeth Independent Patent Right, and (B) no Third Party has yet
      offered for sale any Unauthorized Generic Product with respect to the particular
      Product in such country, then
      Wyeth
      shall pay to Progenics royalties in an amount equal to [*] percent ([*]%) of
      the
      Net Sales of such Product in such country for so long as such Product continues
      to be covered by a Valid Claim of a Wyeth Independent Patent and there is no
      such Unauthorized Generic Product in such country.

     

    6.5.3.  Disclaimers.
      Each
      Party acknowledges and agrees that nothing in this Agreement (including, without
      limitation, any exhibits or attachments hereto) shall be construed as
      representing an estimate or projection of either (a) the number of Products
      that
      will or may be successfully Developed or Commercialized or (b) anticipated
      sales
      or the actual value of any Product. EACH PARTY MAKES NO REPRESENTATION OR
      WARRANTY, EITHER EXPRESS OR IMPLIED, THAT IT WILL BE ABLE TO SUCCESSFULLY
      DEVELOP OR COMMERCIALIZE ANY PRODUCT OR, IF COMMERCIALIZED, THAT ANY SUCH
      PRODUCT WILL ACHIEVE ANY PARTICULAR SALES LEVEL, OR THAT, EXCEPT AS EXPRESSLY
      AGREED IN THIS AGREEMENT, ANY DEVELOPMENT PLAN, THE CO-PROMOTION AGREEMENT
      OR
      THE SAFETY AGREEMENT, IT WILL DEVOTE ANY LEVEL OF DILIGENCE OR RESOURCES TO
      COMMERCIALIZING ANY SUCH PRODUCT.

     

    6.5.4.  Royalty
      Adjustments.
      The
      following adjustments shall be made, on a Product-by-Product and
      country-by-country basis, to the royalties payable pursuant to Section 6.5.1
      (Royalties) hereof:

     

    (a)  Extended
      Exclusivity. So
      long
      as no Person is selling an Unauthorized Generic Product in the U.S., beginning
      on [*], the Applicable Net Sales Percentage for all Products in the U.S. shall
      be [*] on such anniversary and each subsequent anniversary for a maximum of
      [*];
provided,
      however,
      that in
      no event shall the Applicable Net Sales Percentage [*] for Net Sales. For
      example, [*]. If any increases under this Section do not occur due to sales
      of
      an Unauthorized Generic Product, such increases shall be tolled while there
      are
      sales 

     

    
      
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    of
      an
      Unauthorized Generic Product, but shall resume if and when sales of such
      Unauthorized Generic Products are discontinued.

     

    (b)  Progenics
      Third Party Agreements.
      In the
      event that Progenics fails to pay any amount due under any Third Party Agreement
      and Wyeth makes such payment on Progenics’ behalf, Wyeth shall be entitled to
      credit such amount against any amount owed by Wyeth to Progenics under this
      Agreement.

     

    (c)  Wyeth
      Third Party Agreements. Wyeth
      shall be responsible for all obligations under its agreements with Third Parties
      that are (i) in effect as of the Effective Date or (ii) except as provided
      below
      in this Section 6.5.4(c),
      that
      are entered into by Wyeth during the Term of this Agreement, and, in each case,
      no adjustment to the royalties payable by Wyeth under Section 6.5.1
      (Royalties) shall be made on account of any such obligations. Notwithstanding
      the foregoing if during the Term of this Agreement, Wyeth enters into an
      agreement with a Third Party to license Patent Rights in any country that would,
      but for such license, likely be infringed by the Development, manufacture,
      use,
      sale, offering for sale, importation, exportation or other Commercialization
      or
      exploitation of one or more Products, then, upon entry into any such agreement
      and thereafter, the applicable royalty payable under Section 6.5.1
      (Royalties) and 6.5.2
      (Extended Exclusivity Based on Wyeth Independent Patent Rights) in such country
      shall be reduced by [*] percent ([*]%) of the royalties payable by or on behalf
      of Wyeth, its Affiliates and Sublicensees to such Third Party(ies) under such
      license agreement resulting from Net Sales of such one or more Products in
      such
      country; provided,
      however,
      that
      the effective Applicable Net Sales Percentage payable to Progenics under Section
      6.5.1
      (Royalties) and royalty rate payable under Section 6.5.2 (Extended Exclusively
      Based on Wyeth Independent Patent Rights) on Net Sales of Products in such
      countries shall not be reduced by more than [*] ([*]) percentage points in
      the
      aggregate as a result of such reductions.

     

    6.6.  Reports
      and Payments.

     

    6.6.1.  Cumulative
      Royalties.
      The
      obligation to pay royalties under this Agreement shall be imposed only once
      with
      respect to any sale of any Product, regardless of the number of patents that
      may
      cover the Product. 

     

    6.6.2.  Royalty
      Statements and Payments.
      Within
      sixty (60) days of the end of each Calendar Quarter, Wyeth shall deliver to
      Progenics a report, setting forth in reasonable detail for such Calendar
      Quarter, the following information, on a Product-by-Product, country-by-country
      and worldwide basis: (a) Net Sales of each Product, (b) in the United States,
      the amounts and types of Permitted Deductions taken, (c) in the United States,
      the amount and types of Products provided at no charge, and (d) the royalty
      due
      under this Agreement for the sale of each such Product. No such reports shall
      be
      due for any such Product before the First Commercial Sale of such Product.
      

     

    
      
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    The
      total
      royalty due for the sale of all such Products during such Calendar Quarter
      shall
      be remitted at the time such report is delivered.

     

    6.6.3.  Taxes
      and Withholding.
      All
      payments under this Agreement will be made without any deduction or withholding
      for or on account of any tax, duties, levies, or other charges unless such
      deduction or withholding is required by applicable laws or regulations to be
      assessed against Progenics. If Wyeth is so required to make any deduction or
      withholding from payments due to Progenics, Wyeth will (i) promptly notify
      Progenics of such requirement, (ii) pay to the relevant authorities on
      Progenics’ behalf the full amount required to be deducted or withheld promptly
      upon the earlier of determining that such deduction or withholding is required
      or receiving notice that such amount has been assessed against Progenics, and
      (iii) promptly forward to Progenics an official receipt (or certified copy)
      or
      other documentation reasonably acceptable to Progenics evidencing such payment
      to such authorities. 

     

    6.6.4.  Currency.
      All
      amounts payable and calculations under this Agreement shall be in United States
      dollars. As applicable, Net Sales and any royalty deductions shall be translated
      into United States dollars at the exchange rate used by Wyeth for public
      financial accounting purposes in accordance with GAAP. If, due to restrictions
      or prohibitions imposed by national or international authority, payments cannot
      be made as provided in this Section 6
      (Payments by Wyeth to Progenics) with respect to sales occurring outside of
      the
      United States, the Parties shall consult with a view to finding a prompt and
      acceptable solution, and Wyeth will deal with such monies as Progenics may
      lawfully direct. 

     

    6.6.5.  Record
      Keeping.
      Wyeth
      shall keep and shall cause its Affiliates and Sublicensees to keep books and
      accounts of record in connection with the sale of Products, in accordance with
      GAAP and in sufficient detail to permit accurate determination of all figures
      necessary for verification of royalties to be paid under this Agreement. Wyeth
      and its Affiliates shall maintain such records for a period of at least three
      (3) years after the end of the Calendar Quarter in which they were generated,
      provided, however, that if any records are in dispute and Wyeth has received
      written notice from Progenics of the records which are in dispute, Wyeth shall
      keep such records until the dispute is resolved.

     

    6.6.6.  Audits.
      Upon
      thirty (30) days prior written notice from Progenics, Wyeth shall permit an
      independent certified public accounting firm of nationally recognized standing
      selected by Progenics and reasonably acceptable to Wyeth, to examine, at
      Progenics' sole expense, the relevant books and records of Wyeth and its
      Affiliates as may be reasonably necessary to verify the amounts reported by
      Wyeth in accordance with Section 6.6.2
      (Royalty
      Statements and Payments) and the payment of royalties under Section 6.5
      (Royalty
      Payments) and Non-Royalty Sublicensing Income under Section 2.3.3
      (Non-Royalty Sublicensing Income). An examination by Progenics under this
      Section 6.6.6
      shall
      occur not more than once in any Calendar Year and shall be limited to the
      pertinent books and records for any Calendar Year ending not more than three
      (3)
      years before the date of the request. The accounting firm shall be 

     

    
      
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    provided
      access to such books and records at Wyeth’s facility(ies) where such books and
      records are normally kept and such examination shall be conducted during Wyeth’s
      normal business hours. Wyeth may require the accounting firm to sign a standard
      non-disclosure agreement before providing the accounting firm access to Wyeth’s
      facilities or records. Upon completion of the audit, the accounting firm shall
      provide both Wyeth and Progenics a written report disclosing any discrepancies
      in the reports submitted by Wyeth or the royalties paid, and, in each case,
      the
      specific details concerning any discrepancies. No other information shall be
      provided to Progenics. 

     

    6.6.7.  Underpayments/Overpayments.
      If such
      accounting firm concludes that additional royalties were due to Progenics,
      Wyeth
      shall pay to Progenics the additional royalties within forty-five (45) days
      of
      the date Wyeth receives such accountant’s written report, plus interest, which
      shall be calculated at the average of the prime rate reported by JPMorgan Chase,
      New York City, each month during the period from the time any royalty payment
      was due until paid in full, plus two percent (2%) per annum. If such
      underpayment exceeds [*] percent ([*]%) of the royalties that were to be paid
      to
      Progenics, Wyeth also shall reimburse Progenics for the out-of-pocket expenses
      incurred in conducting the audit. Progenics shall not reveal to such accounting
      firm the conditions under which the audit expenses are to be reimbursed
      hereunder. If such accounting firm concludes that Wyeth overpaid royalties
      to
      Progenics, Progenics will refund such overpayments to Wyeth, within forty-five
      (45) days of the date Progenics receives such accountant’s report. No interest
      shall be due Wyeth on such overpayment.

     

    6.6.8.  Confidentiality.
      All
      Progress Reports and financial information of Wyeth which is subject to review
      under this Section 6
      (Payments by Wyeth to Progenics) shall be deemed to be Wyeth’s Confidential
      Information subject to the provisions of Section 8
      (Confidentiality) hereof, and Progenics shall not disclose such Confidential
      Information to any Third Party or use such Confidential Information for any
      purpose other than reviewing progress made or verifying payments to be made
      by
      Wyeth to Progenics under this Agreement; provided,
      however,
      that
      such Confidential Information may be disclosed by Progenics to Third Parties
      only to the extent necessary to enforce Progenics' rights under this
      Agreement.

     

    
      	7.  	
              INTELLECTUAL
                PROPERTY.

            

    

     

    7.1.  Ownership
      of Intellectual Property. 

     

    7.1.1.  Inventorship.
      Inventorship
      of any invention and any Patent Right claiming such invention shall be
      determined in accordance with rules and guidelines regarding inventorship as
      established under United States patent law, including case law and regulations
      associated therewith.
      Authorship of any work subject to copyright protection shall be determined
      in
      accordance with U.S. Copyright law.

     

    7.1.2.  Ownership
      of Joint Know-How and Joint Patent Rights. The
      Parties shall jointly own any Joint Know-How and any Joint Patent Right.

     

    
      
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    7.1.3.  Exploitation
      of Joint Patent Rights and Joint Know-How Other Than as Provided in this
      Agreement. Except
      as
      expressly provided in this Agreement, neither Party shall exploit any Joint
      Patent Right or Joint Know-How without the prior written approval of the other
      Party.

     

    7.2.  Patent
      Rights.

     

    7.2.1.  Progenics
      Patent Rights. Progenics
      shall use Commercially Reasonable Efforts to prepare, file, prosecute and
      maintain the Progenics Patent Rights (including provoking, instituting or
      defending interference, opposition, revocation, reexamination and similar
      proceedings related to the Progenics Patent Rights) in all countries requested
      by Wyeth consistent with the intellectual property strategy developed by the
      JSC
      at Wyeth’s expense.  
      The
      Parties shall cause their patent counsel to communicate regularly regarding
      the
      prosecution and maintenance of the Progenics Patent Rights. Without limiting
      the
      generality of the foregoing, Progenics shall provide to Wyeth copies of all
      communications sent to and received from any patent office pertaining to
      Progenics Patent Rights including, but not limited to, draft patent
      applications, filing receipts, office actions, responses and/or amendments,
      and
      notices of allowance. Wyeth shall be given at least fifteen (15) business days
      prior to the earlier of the expiration of any shortened statutory period for
      response or anticipated filing to review and comment upon the text of any such
      communication. Progenics also shall keep Wyeth advised on the maintenance of
      any
      patents included within the Progenics Patent Rights and provide Wyeth with
      reasonable opportunity to comment on maintenance. In the event that the Parties,
      after good faith discussions, cannot agree with respect to any decision to
      be
      made with respect to the preparation, filing, prosecution and maintenance of
      the
      Progenics Patent Rights (including decisions relating to interference,
      opposition, revocation, reexamination and similar proceedings related to the
      Progenics Patent Rights), Wyeth shall make such decision. In no event, however,
      shall Wyeth instruct Progenics to take any action that would cause Progenics
      to
      breach any Progenics Third Party Agreement. Wyeth’s rights under this Section
      shall be in addition to any other rights and remedies which Wyeth may have
      as a
      result of Progenics' failure to satisfy its obligations under this
      Agreement.

     

    7.2.2.  Joint
      Patent Rights. The
      Parties agree to discuss in good faith and implement a mutually agreeable patent
      strategy with respect to all Joint Technology that may be patentable, and shall
      cause their patent counsel to communicate regularly regarding the prosecution
      and maintenance of the Joint Patent Rights. With respect to all Joint Technology
      for which the Parties agree patent prosecution should be sought, the Parties
      shall cooperate in the preparation, filing and prosecution of patent
      applications (including provoking, instituting or defending interference,
      opposition, revocation, reexamination and similar proceedings related to the
      Joint Patent Rights), and shall discuss and agree on the content and form of
      relevant patent applications and any other relevant matters before such
      applications are made. Each Party shall consider in good faith any comments
      from
      the other Party regarding steps to be taken to strengthen any Joint Patent
      Right. Progenics shall serve as the lead Party to prosecute and maintain all
      applications covering Joint Patent Rights (including provoking, 

     

    
      
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    instituting
      or defending interference, opposition, revocation, reexamination and similar
      proceedings related to the Joint Patent Rights) at Wyeth’s expense, unless
      otherwise agreed by the Parties. In the event that the Parties, after good
      faith
      discussions, cannot agree with respect to any decision to be made regarding
      the
      prosecution and maintenance of the Joint Patent Rights (including decisions
      relating to interference, opposition, revocation, reexamination and similar
      proceedings related to the Joint Patent Rights), Wyeth shall make such decision.
      In all cases, each Party shall provide reasonable assistance to the other Party,
      at Wyeth’s expense, with respect to any activities determined by Wyeth to be
      necessary or desirable to obtain patent protection for such Joint
      Technology.

     

    7.2.3.  Wyeth
      Patent Rights.
      Wyeth
      shall be solely responsible for the prosecution of the Wyeth Collaboration
      Patent Rights and Wyeth Independent Patent Rights and the maintenance of any
      patents included within the Wyeth Collaboration Patent Rights and Wyeth
      Independent Patent Rights at Wyeth’s expense. However, Wyeth shall provide to
      Progenics copies of all communications sent to and received from any patent
      office pertaining to the prosecution of Wyeth Collaboration Patent Rights
      including, but not limited to, draft patent applications, filing receipts,
      office actions, responses and/or amendments, and notices of allowance, and
      the
      Parties shall cause their patent counsel to communicate regularly in advance
      regarding the prosecution of the Wyeth Collaboration Patent Rights.

     

    7.2.4.  Orange
      Book Listings. 

     

    (a)  SC
      Product and IV Product. At
      least
      fifteen (15) business days prior to the expiration of the time period under
      21
      C.F.R. § 314.53 for submitting patent information pertaining to Progenics Patent
      Rights or Joint Patent Rights with respect to the SC Product and the IV Product,
      Progenics shall submit to Wyeth any such draft submission, including any forms
      such as Form FDA 3542, Form FDA 3542a or any equivalent thereof, for Wyeth’s
      review and comment. Progenics shall consider in good faith any comments made
      by
      Wyeth pursuant to this Section. In the event that the Parties, after good faith
      discussions at the JSC, cannot agree with respect to any decision to be made
      under this Section, Wyeth shall make such decision.

     

    (b)  Oral
      Product. At
      least
      fifteen (15) business days prior to the expiration of the time period under
      21
      C.F.R. § 314.53 for submitting patent information pertaining to Progenics Patent
      Rights or Joint Patent Rights with respect to the Oral Product, Wyeth shall
      submit to Progenics any such draft submission, including any forms such as
      Form
      FDA 3542, Form FDA 3542a or any equivalent thereof, for Wyeth’s review and
      comment. Wyeth shall consider in good faith any comments made by Progenics
      pursuant to this Section. In the event that the Parties, after good faith
      discussions at the JSC, cannot agree with respect to any decision to be made
      under this Section, Wyeth shall make such decision.

     

    
      
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    7.2.5.  Application
      for Patent Term Extension. At
      least
      fifteen (15) business days prior to the expiration of any statutory or other
      regulatory time period for submitting an application for patent term extension
      pertaining to Progenics Patent Rights and Joint Patent Rights, including
      applications for interim extension and supplemental protection certificate
      (SPC)
      in the U.S. or in any foreign country, Progenics shall submit to Wyeth any
      such
      draft application for Wyeth’s review and comment. Progenics shall also promptly
      provide to Wyeth all correspondences received from any patent office or
      regulatory office concerning such application for extension, and Wyeth shall
      have at least fifteen (15) business days to review and comment on all
      correspondences sent to any patent office or regulatory office pertaining to
      such application. Progenics shall consider in good faith any comments made
      by
      Wyeth pursuant to this Section. In the event that the Parties, after good faith
      discussions at the JSC, cannot agree with respect to any decision to be made
      under this Section including the patent to apply for extension, Wyeth shall
      make
      such decision.

     

    7.2.6.  Enforcement
      of Patent Rights. 

     

    (a)  Notice.
      If
      either Wyeth or Progenics becomes aware of any infringement, anywhere in the
      world, of any issued patent within the Progenics Patent Rights or the Joint
      Patent Rights, such Party will notify the other Party in writing to that effect.
      Any such notice shall include any available evidence to support an allegation
      of
      infringement by such Third Party. 

     

    (b)  Enforcement
      of Progenics Patent Rights and Joint Patent Rights.
      Except
      as otherwise provided in this Section 7.2.6(b),
      Wyeth shall have the first right but not the obligation, at its own expense,
      to
      take action to obtain a discontinuance of infringement or bring suit against
      a
      Third Party infringer of any Progenics Patent Rights or any Joint Patent Rights.
      Such right shall remain in effect until ninety (90) days after the date of
      notice given under Section 7.2.6(a)
      (Notice). Wyeth may join Progenics as a party plaintiff to any such suit,
      provided that Wyeth shall bear all the expenses of such suit, including those
      reasonable expenses incurred by Progenics as a participant (other than its
      own
      independent counsel). Wyeth shall not consent to the entry of any judgment
      or
      enter into any settlement with respect to such an action or suit without the
      prior written consent of Progenics (not to be unreasonably withheld or delayed)
      if such judgment or settlement includes a finding or agreement that any
      Progenics Patent Right or Joint Patent Right is invalid, unenforceable, or
      not
      infringed, grants a Third Party Sublicense other than as permitted by Section
      2.3
      (Sublicenses), or would enjoin or grant other equitable relief against
      Progenics. Wyeth shall bear all the expenses of any such suit brought by Wyeth
      claiming infringement of any Progenics Patent Rights or Joint Patent Rights.
      If,
      after the expiration of the ninety (90) day period, Wyeth has not obtained
      a
      discontinuance of the infringement of the Progenics Patent Rights or Joint
      Patent Rights or filed suit against any such Third Party infringer of the
      Progenics Patent Rights or Joint Patent Rights, or provided Progenics with
      information and arguments demonstrating to Progenics’ reasonable satisfaction
      that there is insufficient basis 

     

    
      
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    for
      the
      allegation of such infringement of the Progenics Patent Rights or Joint Patent
      Rights, then Progenics shall have the right, but not the obligation, to bring
      suit against such Third Party infringer of the Progenics Patent Right or Joint
      Patent Right. Progenics shall not consent to the entry of any judgment or enter
      into any settlement with respect to such an action or suit without the prior
      written consent of Wyeth (which consent shall not unreasonably be withheld)
      if
      such judgment or settlement materially impacts any of Wyeth’s rights under this
      Agreement or would enjoin or grant other equitable relief against Wyeth. Each
      Party shall cooperate (including by executing any documents required to enable
      the other Party to initiate such litigation) with the other Party in any suit
      for infringement of any Progenics Patent Right or Joint Patent Right brought
      by
      the other Party against a Third Party in accordance with this Section
7.2.6(b)
      (Enforcement of Progenics Patent Rights and Joint Patent Rights) and shall
      have
      the right to consult with the other Party and to participate in and be
      represented by independent counsel in such litigation at its own expense.
      Neither Party shall incur any liability to the other Party as a consequence
      of
      such litigation or any unfavorable decision resulting therefrom, including
      any
      decision holding any Patent Right invalid or unenforceable. However, the Party
      that brings a suit shall indemnify and hold the other Party harmless from any
      liability to a Third Party as a consequence of such litigation or any
      unfavorable decision resulting therefrom. Any recovery obtained by either Party
      as a result of any such proceeding against a Third Party infringer shall be
      allocated as follows:

     

    (i)  [*];
      

     

    (ii)  [*]:

     

    (A)  [*];
      and

     

    (B)  [*].

     

    (iii)  [*].

     

    (c)  Wyeth
      shall continue to pay Progenics all royalties due under this Agreement during
      the pendency of any suit brought pursuant to this Section 7.2.6
      (Enforcement of Patent Rights). 

     

    7.2.7.  Infringement
      and Third Party Licenses. 

     

    (a)  Infringement
      of Third Party Patents - Course of Action.
      If the
      performance of the Licensed Activities by Wyeth or any of its Affiliates or
      Sublicensees is alleged by a Third Party to infringe a Third Party’s patent or
      other intellectual property right, the Party becoming aware of such allegation
      shall promptly notify the other Party. Additionally, if either Party determines
      that, based upon the review of a Third Party’s patent or patent application or
      other intellectual property rights, it may be desirable to obtain a license
      from
      such Third Party with respect thereto so as to avoid any potential suit between
      either Party 

     

    
      
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    and
      such
      Third Party, such Party shall promptly notify the other Party and the JSC of
      such determination and initiate discussions to determine whether such license
      is
      desirable. 

     

    (b)  Wyeth
      Option to Negotiate.
      Subject
      to Section 7.2.7(c)
      (Third
      Party Infringement Suit), in the event that Wyeth determines that, in order
      for
      Wyeth, its Affiliates or Sublicensees to engage in the Licensed Activities,
      it
      is necessary or desirable for Wyeth or its Affiliate to obtain a license under
      one or more patents or patent applications or other intellectual property rights
      owned or controlled by a Third Party (collectively, “Third
      Party IP Rights”),
      Wyeth
      shall have the first right, but not the obligation, to negotiate and enter
      into
      an agreement with such Third Party, whereby Wyeth is granted a license under
      such Third Party IP Rights permitting Wyeth, its Affiliates and Sublicensees
      to
      practice such Third Party IP Rights in connection with the Licensed Activities
      and the performance of any of its obligations or the exercise of any of its
      rights under this Agreement. 

     

    (c)  Third
      Party Infringement Suit.
      If a
      Third Party sues Wyeth or any of Wyeth’s Affiliates or Sublicensees (each Person
      so sued being referred to herein as a “Sued
      Party”),
      alleging that the Licensed Activities of Wyeth or any of Wyeth’s Affiliates or
      Sublicensees during the Term of and pursuant to this Agreement infringe or
      will
      infringe such Third Party’s patent, then, upon Wyeth’s request and in connection
      with the Sued Party’s defense of any such Third Party infringement suit,
      Progenics shall provide reasonable assistance to the Sued Party for such
      defense. Wyeth shall be solely responsible for expenses incurred in defending
      against any such suit and for payment of any damages or other awards that may
      result therefrom. 

     

    7.2.8.  Patent
      Certifications.
      Each
      Party shall immediately give written notice to the other Party of any
      certification filed by a Third Party pursuant to 21 U.S.C. § 355(b)(2)(A) or §
355(j)(2)(A)(vii) (or any amendment or successor statute thereto) of which
      it
      becomes aware claiming that any Patent Right of either Party related to this
      Agreement has expired or is invalid, unenforcable or uninfringed. Wyeth shall
      control any such action using counsel of its own choice at its
      expense.

     

    7.3.  Trademarks.
      Wyeth
      shall, in its sole discretion and expense and subject to the review of the
      JSC
      as set forth in Section 3.2.3 (Specific Responsibilities of the JSC), select
      and
      own all Product-related trademarks, trade dress, copyrights and names to be
      used
      in connection with the marketing, promotion and sale of any Product under this
      Agreement. Progenics shall neither use nor seek to register, anywhere in the
      world, any trademarks which are confusingly similar to any trademarks, trade
      names, trade dress or logos used by or on behalf of Wyeth, its Affiliates or
      Sublicensees in connection with any Product. 

     

    
      	8.  	
              CONFIDENTIALITY. 

            

    

     

    8.1.  Confidentiality.
      Except
      to the extent expressly authorized by this Agreement or otherwise agreed in
      writing, the Parties agree that, for the Term of this Agreement and for five
      (5)
      years thereafter, each Party (the “Receiving
      Party”)
      receiving any Confidential Information 

     

    
      
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    of
      the
      other Party (the “Disclosing
      Party”)
      under
      this Agreement shall keep such Confidential Information confidential and shall
      not publish or otherwise disclose or use such Confidential Information for
      any
      purpose other than as provided for in this Agreement, except for Confidential
      Information that the Receiving Party can establish:

     

    (a)  was
      already known by the Receiving Party (other than under an obligation of
      confidentiality) at the time of disclosure by the Disclosing Party and the
      Receiving Party has documentary evidence to that effect;

     

    (b)  was
      generally available to the public or otherwise part of the public domain at
      the
      time of its disclosure to the Receiving Party;

     

    (c)  became
      generally available to the public or otherwise part of the public domain after
      its disclosure or development, as the case may be, other than through any act
      or
      omission of the Receiving Party or any of its Affiliates;

     

    (d)  was
      disclosed to the Receiving Party, other than under an obligation of
      confidentiality, by a Third Party who had no obligation to the Disclosing Party
      not to disclose such information to the Receiving Party; or

     

    (e)  was
      independently discovered or developed by or on behalf of the Receiving Party
      without the use of any Confidential Information belonging to the Disclosing
      Party and the Receiving Party has documentary evidence to that
      effect.

     

    8.2.  Authorized
      Disclosure. 

     

    8.2.1.  Disclosure.
      Notwithstanding
      the provisions of Section 8.1
      (Confidentiality), each Party may disclose Confidential Information belonging
      to
      the other Party to the extent such disclosure is reasonably necessary
      to:

     

    (a)  file
      or
      prosecute patent applications as contemplated by this Agreement, 

     

    (b)  prosecute
      or defend litigation,

     

    (c)  exercise
      its rights under this Agreement provided such disclosure is covered by terms
      of
      confidentiality similar to those set forth herein, and

     

    (d)  comply
      with applicable governmental laws and regulations.

     

    8.2.2.  Notice
      of Disclosure. In
      the
      event a Party shall deem it reasonably necessary to disclose Confidential
      Information belonging to the other Party pursuant to this Section 8.2
      (Authorized Disclosure), the Disclosing Party shall to the extent possible
      give
      reasonable advance written notice of such disclosure to the other Party and
      take
      reasonable measures to ensure confidential treatment of such
      information.

     

    
      
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    8.3.  SEC
      Filings and Other Disclosures.
      Either
      Party may disclose the terms of this Agreement (a) to the extent required,
      in
      the reasonable opinion of such Party’s legal counsel, to comply with applicable
      laws, including, without limitation, the rules and regulations promulgated
      by
      the United States Securities and Exchange Commission, the New York Stock
      Exchange and NASDAQ and (b) in connection with a prospective acquisition, merger
      or financing for such Party, to prospective acquirers or merger candidates
      or to
      existing or potential investors, provided that prior to such disclosure each
      such candidate or investor shall be agree in writing to be bound by obligations
      of confidentiality and non-use no less restrictive in scope than those set
      forth
      in this Section 8
      (Confidentiality). Notwithstanding the foregoing, before disclosing this
      Agreement or any of the terms hereof pursuant to (a) above, the Parties will
      consult with one another on the terms of this Agreement to be redacted in making
      any such disclosure. If a Party discloses this Agreement or any of the terms
      hereof in accordance with clause (a) above, such Party agrees, at its own
      expense, to seek such confidential treatment of portions of this Agreement
      or
      such terms, as may be reasonably requested by the other Party. 

     

    8.4.  Public
      Announcements; Publications.

     

    8.4.1.  Coordination.
      The
      Parties agree on the importance of coordinating their public announcements
      respecting this Agreement and the subject matter hereof (other than academic,
      scientific or medical publications that are subject to the publication provision
      set forth below). Progenics and Wyeth shall, from time to time, and at the
      request of the other Party, discuss and agree on the general information content
      relating to this Agreement (including relating to the Development and/or
      Commercialization of Products) which may be publicly disclosed (including,
      without limitation, by means of any printed publication or oral
      presentation).

     

    8.4.2.  Press
      Release.
      Both
      Parties may release the announcement attached to this Agreement as Schedule
      8.4.2
      regarding the signing of this Agreement. 

     

    8.4.3.  Publications.
      During
      the term of this Agreement, each Party will submit to the other Party for review
      and approval all proposed academic, scientific and medical publications and
      public presentations relating to the Development and/or Commercialization of
      any
      Product, for review in connection with preservation of Patent Rights and/or
      to
      determine whether any of such other Party’s Confidential Information should be
      modified or deleted. Written copies of such proposed publications and
      presentations shall be submitted to the non-publishing Party no later than
      forty-five (45) days before submission for publication or presentation and
      the
      non-publishing Party shall provide its comments with respect to such
      publications and presentations within thirty (30) days of its receipt of such
      written copy. The review period may be extended for an additional thirty (30)
      days in the event the non-publishing Party can demonstrate reasonable need
      for
      such extension, including, but not limited to, the preparation and filing of
      patent applications. By mutual agreement, this period may be further extended.
      Wyeth and Progenics will each comply with standard academic practice regarding
      authorship of scientific publications and recognition of contribution of other
      parties in any publications relating to the Development and/or Commercialization
      of any Product.

     

    
      
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      	9.  	
              REPRESENTATIONS
                AND WARRANTIES. 

            

    

     

    9.1.  Representations
      and Warranties of Each Party. Each
      of
      Progenics and Wyeth hereby represents, warrants, and covenants to the other
      Party as follows:

     

    (a)  it
      is a
      corporation duly organized and validly existing under the laws of the state
      of
      its incorporation;

     

    (b)  the
      execution, delivery and performance of this Agreement by such Party has been
      duly authorized by all requisite corporate action and does not require any
      shareholder action or approval;

     

    (c)  it
      has
      the power and authority to execute and deliver this Agreement and to perform
      its
      obligations under this Agreement;

     

    (d)  the
      execution, delivery and performance by such Party of this Agreement and its
      compliance with the terms and provisions hereof does not and will not conflict
      with or result in a breach of any of the terms and provisions of or constitute
      a
      default under (i) a loan agreement, guaranty, financing agreement, agreement
      relating to one or more Patent Rights or other agreement or instrument binding
      or affecting it or its property; (ii) the provisions of its charter or operative
      documents or bylaws; or (iii) any order, writ, injunction or decree of any
      court
      or governmental authority entered against it or by which any of its property
      is
      bound; and

     

    (e)  it
      shall
      at all times comply with all material laws and regulations applicable to its
      activities under this Agreement.

     

    9.2.  Additional
      Representations and Warranties of Progenics.
      In
      addition to the representations and warranties made by Progenics elsewhere
      in
      this Agreement, Progenics, hereby represents, warrants and covenants to Wyeth
      that:

     

    (a)  Schedule
      9.2(A)
      identifies all Progenics Patent Rights owned by Progenics (the “Owned
      Progenics Patent Rights”),
      and
Schedule
      9.2(B)
      identifies all Progenics Patent Rights which Progenics licenses from Third
      Parties (the “Licensed
      Progenics Patent Rights”),
      in
      each case along with the following information with respect to each identified
      Patent Right, as applicable: (i) country, (ii) title, (iii) application number,
      (ii) application filing date, (v) patent number, (vi) patent issue date, (vii)
      listed inventor(s), and (viii) current owner. Schedule 9.2(C)
      identifies each Progenics Third Party Agreement. The Owned Progenics Patents
      Rights and the Licensed Progenics Patent Rights identified on Schedule
      9.2
      (meaning
      Schedules (A), (B) and (C) together) constitute all of the Progenics Patent
      Rights as of the Effective Date.

     

    (b)  Progenics
      exclusively owns all rights, title, and interests in the Owned Progenics Patent
      Rights and owns or Controls the Progenics Know-How existing as of the Effective
      Date free and clear of any liens, charges, 

     

    
      
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    encumbrances,
      licenses, or, to its knowledge, other claim of right or ownership by any Third
      Party. Neither any license granted by Progenics to any Third Party, nor any
      license granted by any Third Party to Progenics conflicts with the license
      grants to Wyeth under this Agreement. 

     

    (c)  Progenics
      has and will have the full right, power and authority to grant the licenses
      granted or to be granted to Wyeth under this Agreement.

     

    (d)  There
      are
      no Progenics Third Party Agreements other than the agreements identified in
      Schedule 9.2(C),
      true
      and complete copies of which have been provided to Wyeth. As of the Effective
      Date, no Third Party has any right, title or interest in or to, or any license
      under, any of the Progenics Patent Rights other than as provided in Progenics
      Third Party Agreements. As of the Effective Date, the Progenics Third Party
      Agreements are in full force and effect, and Progenics is in compliance in
      all
      material respects with the Progenics Third Party Agreements. To Progenics’
knowledge, no event has occurred or omission made, and no circumstances exist,
      which, with or without the giving of notice and/or the passage of time, would
      permit the counterparty to terminate any Progenics Third Party
      Agreement.

     

    (e)  The
      Agreement and Plan of Reorganization dated as of December 22, 2005 by and among
      Progenics, Progenics Pharmaceuticals Nevada, Inc., UR Labs, Inc., and the
      shareholders of UR Labs, Inc. and all “Collateral Agreements” (as defined
      therein) entered into pursuant thereto (collectively, the “UR
      Labs Acquisition Agreements”)
      have
      been duly and validly executed and delivered by the parties thereto and
      represent the legal, valid and binding obligations of the parties thereto
      enforceable in accordance with their terms, subject to applicable bankrupcty,
      reorganization, moratorium and similar laws affecting creditors’ rights and
      remedies generally. Progenics and its Affiliates are not, and to the knowledge
      of Progenics, no Third Party to any of the UR Labs Acquisition Agreements is,
      in
      violation or default of any UR Labs Acquisition Agreement. No event or
      circumstance has occurred that constitutes or, after notice or lapse of time
      or
      both, would constitute, a material violation or default thereunder on the part
      of Progenics or its Affiliates, or, to the knowledge of Progenics, any Third
      Party thereto, or which would result in the rescission of or a loss of rights
      under any UR Labs Acquisition Agreement.

     

    (f)  To
      the
      extent that any of the Progenics Patent Rights arose from work funded in whole
      or in part by U.S. federal funding, to Progenics’ knowledge all requirements
      necessary to (a) vest the entire right, title and interest in Progenics or
      Progenics’ licensor of such Progenics Patent Rights, and (b) grant the licenses
      to Progenics under Patent Rights licensed to Progenics, have been
      satisfied.

     

    (g)  As
      of the
      Effective Date, the Progenics Patent Rights are existing and, to the best of
      its
      knowledge, are not invalid or unenforceable, in whole or in part.

     

    
      
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    (h)  To
      Progenics’ knowledge, as of the Effective Date and except for the patents and
      patent applications that Progenics has previously disclosed to Wyeth in writing:
      the Development and Commercialization of the Compound, the SC Product and the
      IV
      Product, and the [*] Oral Product, each as such Product is contemplated by
      the
      outline of the Development Plan agreed by the Parties as of the Effective Date
      and as previously described to Wyeth, (A) does not infringe any issued patent
      owned or possessed by any Third Party; and (B) would not infringe any pending
      claim in a pending patent application owned or possessed by a Third Party if
      such claim were an issued claim of an issued patent. As of the Effective Date,
      there are no outstanding orders, judgments or settlements against or owed by
      Progenics relating to the Progenics Technology, and there is no pending or,
      to
      the best of its knowledge, threatened, claims or litigation, relating to the
      Progenics Technology.

     

    (i)  During
      the Term of this Agreement, (i) Progenics will use Commercially Reasonable
      Efforts not to take or omit to take any actions that would breach any Progenics
      Third Party Agreement or other agreements between Progenics and Third Parties
      that provide for intellectual property rights necessary for the Development
      and
      Commercialization of the Compound and Products, and (ii) Progenics will provide
      Wyeth promptly with notice of any allegation that Progenics has breached any
      such agreement. During the Term of this Agreement, Progenics will not enter
      into
      any agreement with any Third Party adversely affecting the rights granted to
      Wyeth under this Agreement.

     

    9.3.  Additional
      Representations and Warranties of Wyeth.
      In
      addition to the representations and warranties made by Wyeth elsewhere in this
      Agreement, Wyeth, hereby represents, warrants and covenants to Progenics
      that:

     

    (a)  [*];
      and

     

    (b)  as
      of the
      Effective Date, Wyeth has no compound in pre-clinical or clinical development
      that would be competitive with or addresses similar indications to any
      Product.

     

    9.4.  Representation
      by Legal Counsel.
      Each
      Party hereto represents that it has been represented by legal counsel in
      connection with this Agreement and acknowledges that it has participated in
      the
      drafting hereof. In interpreting and applying the terms and provisions of this
      Agreement, the Parties agree that no presumption shall exist or be implied
      against the Party which drafted such terms and provisions.

     

    9.5.  No
      Inconsistent Agreements. Neither
      Party has in effect and after the Effective Date neither Party shall enter
      into
      any oral or written agreement or arrangement that is or would be inconsistent
      with its obligations under this Agreement.

     

    
      
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      	10.  	
              TERM
                AND TERMINATION

            

    

     

    10.1.  Term.
      The term
      of this Agreement (the “Term”)
      will
      commence on the Effective Date and extend on a country-by-country and
      Product-by-Product basis, unless this Agreement is terminated earlier in
      accordance with this Section 10
      (Term
      and Termination), until the last to expire of any Royalty Period for any Product
      in such country and any extended period of royalty payment under Section
6.5.2
      (Extended Exclusivity Based on Wyeth Independent Patent Rights). 

     

    10.2.  Termination
      by Progenics.

     

    10.2.1.  General.
      Progenics may terminate this Agreement at any time by giving written notice
      to
      Wyeth in the event that Wyeth commits a material breach of its representations,
      warranties or obligations under this Agreement and such material breach remains
      uncured for ninety (90) days (thirty (30) days for a breach of a payment
      obligation) measured from the date written notice of such material breach is
      given to Wyeth; provided,
      however,
      that if
      any breach other than non-payment is not reasonably curable within ninety (90)
      days and so long as Wyeth is using Commercially Reasonable Efforts to cure
      such
      breach, such termination shall be delayed for a reasonable period of time in
      order to permit Wyeth reasonable time to cure such breach. Notwithstanding
      the
      foregoing, if the material breach by Wyeth giving rise to such termination
      is a
      failure to use Commercially Reasonable Efforts pursuant to Section 4.2.2
      (Responsibilities of Wyeth) or 5.2 (Commercialization Responsibilities and
      Efforts by Wyeth) in a Major Market Country other than the United States, then
      Progenics may only terminate this Agreement on a Product-by-Product and
      country-by-country basis in the applicable Major Market Country where such
      material breach occurred (a “Partial
      Termination”),
      and
      such Partial Termination shall not affect Wyeth’s rights under this Agreement in
      other countries in the Territory or with respect to other Products.

     

    10.2.2.  Payment
      Breaches.
      Failure
      by Wyeth to pay any amount in excess of $[*] within the cure period specified
      in
      this Section 10.2 (Termination by Progenics) shall constitute a material breach
      of this Agreement. If the alleged material breach relates to non-payment of
      an
      amount that is subject to a bona fide good faith dispute between the Parties
      as
      to whether such payment is due, the thirty (30) day cure period shall be tolled
      pending resolution of such dispute; provided,
      however,
      that if
      such amount is part of a larger payment due, only the cure period for the amount
      in dispute shall be tolled.
      Notwithstanding the foregoing, the thirty (30) day cure period shall not be
      tolled for any dispute regarding a failure by Wyeth to pay any amounts due
      pursuant to Section 6.2.2
      (Payment
      of Expenses; Development Account; Reimbursement) so long as the Progenics
      Development Costs in question are consistent with the Progenics Development
      Cost
      Budget approved by the JSC or agreed by the Parties. The previous sentence
      shall
      not apply, however, to any dispute regarding the amount of any offset taken
      by
      Wyeth pursuant to Section 6.2.2
      (Payment
      of Expenses; Development Account; Reimbursement) offsetting an overpayment
      of
      Progenics Development Costs in a Calendar Quarter against the Estimated
      Quarterly Development Costs for the following Calendar Quarter.

     

    
      
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    10.3.  Termination
      by Wyeth.

     

    10.3.1.  Termination
      by Wyeth for Convenience.
      Wyeth
      may, with or without cause, terminate this Agreement in its entirety by
      providing Progenics with at least three hundred and sixty (360) days prior
      written notice of such termination; provided,
      however, that
      regardless of the notice given to Progenics, no such termination shall be
      effective prior to the second anniversary of the First Commercial Sale of the
      first Product in the U.S.

     

    10.3.2.  Termination
      by Wyeth Because of Serious Safety and Efficacy Issues. If
      one or
      more safety or efficacy issues arise with respect to a Product which are
      sufficiently serious that Wyeth would cease Development or Commercialization
      of
      the Product if the Product were a product or proposed product owned by it or
      to
      which it had rights that was of similar commercial potential and at a similar
      stage in its development or product life, Wyeth shall promptly inform Progenics
      of such safety or efficacy issues(s) and convene a meeting of the JDC to discuss
      such safety or efficacy issues and their implications for Development and
      Commercialization of the Product. If the JDC is unable to agree on a plan to
      continue Development and Commercialization of the Product, then the matter
      will
      be referred to the JSC for discussion. If the JSC is unable to agree on a plan
      to continue Development and Commercialization of the Product, [*] will discuss
      whether there is any viable alternative to ceasing Development and
      Commercialization. Thereafter, Wyeth may terminate this Agreement with respect
      to such Product throughout the Territory on thirty (30) days prior written
      notice.

     

    10.3.3.  Termination
      by Wyeth for Cause. Wyeth
      may
      terminate this Agreement in its entirety for cause at any time by giving written
      notice to Progenics in the event that Progenics commits a material breach of
      its
      representations, warranties or obligations under this Agreement and such
      material breach remains uncured for ninety (90) days measured from the date
      written notice of such material breach is given to Progenics; provided,
      however,
      that if
      any breach other than non-payment is not reasonably curable within ninety (90)
      days and so long as Progenics is using Commercially Reasonable Efforts to cure
      such breach, such termination shall be delayed for a reasonable period of time
      in order to permit Progenics reasonable time to cure such breach.

     

    10.4.  Effects
      of Expiration or Termination.

     

    10.4.1.  Upon
      Termination By Progenics or Termination by Wyeth For Convenience.
On
      termination of this Agreement by Progenics pursuant to Section 10.2 (Termination
      by Progenics) or termination of this Agreement by Wyeth pursuant to Section
      10.3.1 (Termination by Wyeth for Convenience), the following shall occur;
provided,
      however,
      that in
      the case of a Partial Termination, each of the following shall occur only with
      respect to the terminated Product and in the terminated country or
      countries:

     

    (a)  Wyeth
      shall, within thirty (30) days of the event giving rise to the termination,
      transfer to Progenics copies of all data, reports, records and 

     

    
      
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    materials
      in its possession or control that relate to the Products or Compound and, except
      in the case of a Partial Termination, return to Progenics, or destroy at
      Progenics’ request, all relevant records and materials in Wyeth’s or its
      Affiliates’ possession or control containing Confidential Information of
      Progenics.

     

    (b)  Wyeth
      shall use Commercially Reasonable Efforts to transfer to Progenics ownership
      and
      control of all Registrational Filings and Regulatory Approvals made or filed
      or
      obtained for the Products and Compound and all clinical, technical and other
      relevant reports and data relating to the Products and Compound, each to the
      extent they are owned, controlled or held in the name of Wyeth or its
      Affiliates.

     

    (c)  Except
      as
      provided in Section 10.4.6
      (Effect
      of Termination by Progenics on Sublicensees), all licenses granted by Progenics
      to Wyeth and its Affiliates with respect to the Products and Compound shall
      immediately terminate; provided,
      however,
      that in
      the case of a Partial Termination relating to less than all Products in a
      country, the licenses granted by Progenics to Wyeth with respect to the Compound
      in such country shall survive and become non-exclusive solely for the purpose
      of
      Developing, Commercializing and otherwise exploiting the Products that have
      not
      been terminated in such country. Wyeth shall use Commercially Reasonable Efforts
      to assign to Progenics for no additional consideration, within thirty (30)
      days
      of the event giving rise to the Termination, the trademarks relating solely
      to
      the Products or the Compound owned by Wyeth and its Affiliates. Progenics shall
      be responsible for the costs of recording trademark assignments in individual
      countries.

     

    (d)  As
      to
      Products then being manufactured by or on behalf of Wyeth or its Affiliates,
      the
      Parties shall negotiate in good faith a supply agreement for such Products
      on
      commercially reasonable terms to ensure that Progenics shall have for a period
      [*] ([*]) years a continuous supply of such Products. In addition, except in
      the
      case of a Partial Termination, to the extent permitted under the terms of such
      agreements, Wyeth shall use Commercially Reasonable Efforts to assign to
      Progenics, at Progenics’ request, any of Wyeth’s rights under any agreements for
      the supply or manufacture of Products or packaging or the supply of API. In
      the
      case of a Partial Termination, Wyeth shall cooperate with Progenics in good
      faith to arrange for the supply of API to Progenics and shall waive any
      exclusivity right it may have with such suppliers as necessary to permit
      Progenics to enter into direct supply agreements with such suppliers.
      Furthermore, except in the case of a Partial Termination, at Progenics’ request,
      Wyeth shall sell to Progenics any of the inventory (including manufactured
      Product, packaging materials, promotional materials and any other Commercial
      items) held by Wyeth or its Affiliates or Sublicensees at a price equal to
      their
      cost. And in any case, Wyeth shall use Commercially Reasonable Efforts to
      transfer, license or sublicense to Progenics or its designee at no cost all
      documentation and technology in Wyeth’s Control necessary to enable Progenics or
      its designee to manufacture Products. 

     

    
      
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    (e)  Progenics
      shall have the right to continue to use supplies of materials carrying the
      name
      or trademark of Wyeth, its Affiliates or Sublicensees until those supplies
      have
      been depleted, but in no event for a period of more than [*] ([*])
      days.

     

    (f)      
      Wyeth shall grant Progenics a fully paid-up, perpetual, irrevocable,
      royalty-free license (with the right to grant sublicenses) in the Field under
      the Wyeth Collaboration Patent Rights, Wyeth Collaboration Know-How and Wyeth’s
      interest in the Joint Technology to make, have made, use, Develop, sell, offer
      to sell, have sold, import, export and otherwise exploit and Commercialize
      the
      Compound and the Products in the Terminated Territory. In the case of a Partial
      Termination, the foregoing license shall be a non-exclusive license (with the
      right to grant sublicenses), and in the case that this Agreement is terminated
      in its entirety the foregoing license shall be a sole license (meaning that
      Progenics will be the only licensee in the Field, but that the license will
      not
      be exclusive as to Wyeth and its Affiliates). “Terminated Territory”
shall mean worldwide in the event that this Agreement is terminated
      in its
      entirety and shall mean the country or countries in which the Agreement is
      terminated in the event of a Partial Termination. Furthermore, Wyeth shall
      not
      assert any Wyeth Independent Patent Right against Progenics, its Affiliates
      or
      its sublicensees relating to the Development, Commercialization or other
      exploitation of any Product in the Terminated Territory.

     

    10.4.2.  Upon
      Termination by Progenics.
      In
      addition to the requirements of Section 10.4.1
      (Upon
      Termination by Progenics or Termination by Wyeth for Convenience), on
      termination of this Agreement by Progenics pursuant to Section 10.2
      (Termination by Progenics), either in its entirety or for a particular country
      or Product, Progenics will suffer costs, expenses and damages that would be
      of
      uncertain amount and difficult to prove. Therefore, if Progenics terminates
      this
      Agreement pursuant to Section 10.2
      (Termination by Progenics) with respect to a particular Product or country
      or in
      its entirety, Wyeth shall reimburse Progenics, as liquidated damages, [*];
      provided,
      however,
      that
      Wyeth shall have no further obligation to reimburse Progenics for Development
      of
      a Product effective upon the date [*].

     

    10.4.3.  Upon
      Termination By Wyeth For Serious Safety and Efficacy Reasons.
On
      termination of this Agreement by Wyeth with respect to one or more Products
      (the
“Terminated
      Products”)
      pursuant to Section 10.3.2 (Termination by Wyeth Because of Safety and Efficacy
      Issues), the following shall occur:

     

    (a)  Wyeth
      shall, within thirty (30) days of the effective date of the termination,
      transfer to Progenics copies of all data, reports, records and materials in
      the
      possession or control of Wyeth or its Affiliates that relate to the Terminated
      Products and return to Progenics, or destroy at Progenics’ request, all relevant
      records and materials in the possession or control of Wyeth and its Affiliates
      containing Confidential Information of Progenics exclusively related to the
      Terminated Products.

     

    
      
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    (b)  Wyeth
      shall use Commercially Reasonable Efforts to transfer to Progenics ownership
      and
      control of all Registrational Filings and Regulatory Approvals made or filed
      or
      obtained for the Terminated Products and all clinical, technical and other
      relevant reports and data relating to the Terminated Products, each to the
      extent they are owned, controlled or held in the name of Wyeth or its
      Affiliates.

     

    (c)  All
      licenses granted by Progenics to Wyeth and its Affiliates with respect to the
      Terminated Products shall immediately terminate; provided,
      however,
      that in
      the case of a termination relating to less than all Products, the licenses
      granted by Progenics to Wyeth with respect to the Compound shall survive and
      become non-exclusive solely for the purpose of Developing, Commercializing
      and
      otherwise exploiting the Products other than the Terminated Products. Wyeth
      shall use Commercially Reasonable Efforts to assign to Progenics for no
      additional consideration, within thirty (30) days of the effective date of
      the
      termination, the trademarks relating solely to the Terminated Products owned
      by
      Wyeth and its Affiliates. Progenics shall be responsible for the costs of
      recording trademark assignments in individual countries.

     

    (d)  Wyeth
      shall use Commercially Reasonable Efforts to transfer, license or sublicense
      to
      Progenics or its designee at no cost all documentation and technology in Wyeth’s
      Control necessary to enable Progenics or its designee to manufacture Products.
      In the case of a termination with respect to all Products, to the extent
      permitted under the terms of such agreements, Wyeth shall use Commercially
      Reasonable Efforts to assign to Progenics, at Progenics’ request, any of Wyeth’s
      rights under any agreements for the supply or manufacture of Products or
      packaging or the supply of API. In the case of a termination with respect to
      less than all Products, Wyeth shall cooperate with Progenics in good faith
      to
      arrange for the supply of API to Progenics and shall waive any exclusivity
      right
      it may have with such suppliers as necessary to permit Progenics to enter into
      direct supply agreements with such suppliers. 

     

     (e)      
      Wyeth shall grant Progenics a fully paid-up, perpetual, irrevocable,
      royalty-free license (with the right to grant sublicenses) in the Field under
      the Wyeth Collaboration Patent Rights, Wyeth Collaboration Know-How and Wyeth’s
      interest in the Joint Technology to make, have made, use, Develop, sell, offer
      to sell, have sold, import, export and otherwise exploit and Commercialize
      the
      Terminated Products in the Territory. In the case of a termination for some
      but
      not all Products, the foregoing license shall be a non-exclusive license (with
      the right to grant sublicenses), and in the case of termination with respect
      to
      all Products the foregoing license shall be a sole license (meaning that
      Progenics will be the only licensee in the Field, but that the license will
      not
      be exclusive as to Wyeth and its Affiliates). Furthermore, Wyeth shall not
      assert any Wyeth Independent Patent Right against Progenics, its Affiliates
      or
      its sublicensees relating to the Development, Commercialization or other
      exploitation of any Terminated Product.

     

    
      
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    10.4.4.  Effect
      of Termination by Wyeth for Cause.
      If Wyeth
      terminates this Agreement pursuant to Section 10.3.3 (Termination by Wyeth
      for Cause) all
      licenses granted by Progenics to Wyeth under this Agreement shall survive such
      termination and become fully paid-up, perpetual, non-exclusive, irrevocable,
      royalty-free licenses. In addition, in such event:

     

    (a)  
      Progenics shall, and shall cause its Affiliates to, assign and delegate to
      Wyeth
      or its designated Affiliate, and Wyeth or its designated Affiliate shall assume
      from Progenics, all of Progenics’ rights and obligations under the Progenics
      Third Party Agreements; and 

     

    (b)  Progenics
      shall use Commercially Reasonable Efforts to transfer to Progenics ownership
      and
      control of all Registrational Filings and Regulatory Approvals made or filed
      or
      obtained for the Products and Compound and all clinical, technical and other
      relevant reports and data relating to the Products and Compound, each to the
      extent they are owned, controlled or held in the name of Progenics or its
      Affiliates. 

     

    10.4.5.  Effect
      of Expiration. If
      this
      Agreement terminates because its Term has expired under Section 10.1 (Term)
      all
      licenses granted by Progenics to Wyeth under this Agreement shall survive such
      termination and become fully paid-up, perpetual, non-exclusive, irrevocable,
      royalty-free licenses.

     

    10.4.6.  Effect
      of Termination by Progenics on Sublicenses. On
      termination of this Agreement by Progenics pursuant to Section 10.2 (Termination
      by Progenics), any Sublicense granted under this Agreement will become a direct
      license from Progenics to the Sublicensee, provided that the Sublicensee is
      not
      in breach of the Sublicense agreement. In such event, the direct license under
      the Progenics Technology and Progenics’ interest in the Joint Technology (or the
      subset of such technology that was sublicensed to the Sublicensee) from
      Progenics to the Sublicensee will be in the sublicensed field, and will
      otherwise be on the terms and conditions of the sublicense agreement between
      Company and Sublicensee, except that Progenics will be excused from performing
      any of Wyeth’s obligations under the sublicense agreement to the extent that
      such obligations are more than immaterially different from Progenics’
obligations under this Agreement.

     

    10.4.7.  Accrued
      Rights. Expiration
      or termination of this Agreement for any reason shall be without prejudice
      to
      any right which shall have accrued to the benefit of either Party prior to
      such
      termination, including, without limitation, damages arising from any breach
      under this Agreement or the obligation to make Development Payments,
      Commercialization Payments, Royalty Payments or any other payments required
      under this Agreement as to events or sales of Product occurring prior to the
      effective time of any expiration or termination of this Agreement. Expiration
      or
      termination of this Agreement shall not relieve either party from any obligation
      which is expressly indicated to survive such expiration or
      termination. 

     

    
      
         

      

      
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    10.4.8.  Survival.
      The
      following sections of this Agreement shall survive expiration or termination
      of
      this Agreement for any reason: 6.2.5
      (Records
      and Audits) 6.2.6
      (Confidentiality) 6.6.5
      (Record
      Keeping) 6.6.6
      (Audits)
6.6.7
      (Underpayments/Overpayments) 6.6.8
      (Confidentiality) 7.1
      (Ownership of Intellectual Property) 7.3
      (Trademarks) 8
      (Confidentiality) 10.4
      (Effects
      of Termination or Expiration) 10.5
      (Provision for Insolvency) 11
      (Indemnification and Insurance) 12
      (Regulatory Matters; Safety Issues; Product Recalls), and 13
      (Miscellaneous).

     

    10.5.  Provision
      for Insolvency.

     

    10.5.1.  Termination.
      This
      Agreement may be terminated by written notice by either Party (the “Non-Debtor
      Party”)
      at any
      time during the Term of this Agreement (i) upon the declaration by a court
      of
      competent jurisdiction that the other Party (the “Debtor
      Party”)
      is
      bankrupt and, pursuant to the U.S. Bankruptcy Code, the Debtor Party’s assets
      are to be liquidated, (ii) upon the filing or institution of bankruptcy,
      liquidation or receivership proceedings (other than reorganization proceedings
      under Chapter 11 of the U.S. Bankruptcy Code) with respect to the Debtor Party,
      (iii) upon an assignment of a substantial portion of the assets for the benefit
      of creditors by the Debtor Party, (iv) in the event a receiver or custodian
      is
      appointed for the Debtor Party’s business, or (v) if a substantial portion of
      the Debtor Party’s business is subject to attachment or similar process;
provided,
      however,
      that in
      the case of any involuntary bankruptcy proceeding such right to terminate shall
      become effective only if the proceeding is not dismissed within sixty (60)
      days
      after the filing thereof. To the extent permitted by applicable law, the effect
      of a termination under this Section 10.5.1 shall be as described in Section
      10.4.1 (Upon Termination by Progenics or Termination by Wyeth) or 10.4.4
      (Upon
      Termination by Wyeth for Cause) and 10.4.6
      (Effect
      of Termination by Progenics on Sublicensees), as the case may be. 

     

    10.5.2.  Effect
      on Licenses.
      All
      rights and licenses granted under or pursuant to this Agreement are licenses
      of
      rights to “intellectual property” as defined in Section 365(n) of Title 11 of
      the United States Code (“Title
      11”).
      Each
      Party agrees that the other Party, as licensee of such rights under this
      Agreement shall retain and may fully exercise all of its rights and elections
      under Title 11. Each Party agrees during the Term of this Agreement, to create
      and maintain current copies or, if not amenable to copying, detailed
      descriptions or other appropriate embodiments, to the extent feasible, of all
      such intellectual property. If a case is commenced by or against the Debtor
      Party under Title 11, the Debtor Party (in any capacity, including
      debtor-in-possession) and its successors and assigns (including, without
      limitation, a Title 11 trustee) shall:

     

    (a)  as
      the
      Non-Debtor Party may elect in a written request, immediately upon such
      request:

     

    (i)  perform
      all of the obligations provided in this Agreement to be performed by the Debtor
      Party including, where applicable and without limitation, providing to the
      Non-Debtor Party portions of such intellectual property (including embodiments
      thereof) held by the Debtor Party and such successors and assigns or otherwise
      available to them; or 

     

    
      
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    (ii)  provide
      to the Non-Debtor Party all such intellectual property (including all
      embodiments thereof) held by the Debtor Party and such successors and assigns
      or
      otherwise available to them; and

     

    (b)  not
      interfere with the rights of the Non-Debtor Party under this Agreement, or
      any
      agreement supplemental hereto, to such intellectual property (including such
      embodiments), including any right to obtain such intellectual property (or
      such
      embodiments) from another entity, to the extent provided in Section 365(n)
      of
      Title 11.

     

    10.5.3.      
      Rights to Intellectual Property. If (i) a Title 11 case is
      commenced by or against the Debtor Party, (ii) this Agreement is rejected as
      provided in Title 11, and (iii) the Non-Debtor Party elects to retain its rights
      under this Agreement as provided in Title 11, then the Debtor Party (in any
      capacity, including debtor-in-possession) and its successors and assigns
      (including, without limitation, a Title 11 trustee) shall provide to the
      Non-Debtor Party all such intellectual property (including all embodiments
      thereof) held by the Debtor Party and such successors and assigns, or otherwise
      available to them, immediately upon the Non-Debtor Party’s written request.
      Whenever the Debtor Party or any of its successors or assigns provides to the
      Non-Debtor Party any of the intellectual property licensed under this Agreement
      (or any embodiment thereof) pursuant to this Section 10.5, the Non-Debtor Party
      shall have the right to perform the obligations of the Debtor Party under this
      Agreement with respect to such intellectual property, but neither such provision
      nor such performance by the Non-Debtor Party shall release the Debtor Party
      from
      any such obligation or liability for failing to perform it. The Parties hereto
      acknowledge and agree that the Progenics Development Costs to be paid under
      Section 6.2 (Post-Effective Date Development Expenses) and the Development
      Payments to be paid under Section 6.3 (Development Payments) (and any other
      payment by Wyeth to Progenics under this Agreement other than the royalties
      to
      be paid under Section 6.5 (Royalty Payments) and Commercialization Payments
      to
      be paid under Section 6.4 (Commercialization Milestone Payments)) do not
      constitute “royalties” within the meaning of Title 11 or relate to licenses of
      intellectual property under this Agreement.

     

    10.5.4.  Additional
      Rights.
      All
      rights, powers and remedies of the Non-Debtor provided herein are in addition
      to
      and not in substitution for any and all other rights, powers and remedies now
      or
      hereafter existing at law or in equity (including, without limitation, Title
      11)
      in the event of the commencement of a Title 11 case by or against the Debtor
      Party. The Non-Debtor Party, in addition to the rights, power and remedies
      expressly provided herein, shall be entitled to exercise all other such rights
      and powers and resort to all other such remedies as may now or hereafter exist
      at law or in equity (including, without limitation, Title 11) in such event.
      The
      Parties agree that they intend the foregoing rights to extend to the maximum
      extent permitted by law, including, without limitation, for purposes of Title
      11:

     

    (a)  the
      right
      of access to any intellectual property (including all embodiments thereof)
      of
      the Debtor Party, or any Third Party with whom the 

     

    
      
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    Debtor
      Party contracts to perform an obligation of the Debtor Party under this
      Agreement, and, in the case of the Third Party, which is necessary for the
      research, development, manufacture and Commercialization of Products; and

     

    (b)  the
      right
      to contract directly with any Third Party to complete the contracted
      work.

     

    10.6.  Effect
      of Termination of the UR Labs-Progenics Agreement 

     

    10.6.1.   Background.
      Progenics
      and UR Labs, Inc., a Nevada corporation, entered into a Sublicense Agreement
      dated as of September 21, 2001, as amended (the “UR
      Labs-Progenics Agreement”),
      under
      which UR Labs granted Progenics a license, with the right to further sublicense,
      under certain Progenics Technology. On December 22, 2005, UR Labs assigned
      the
      UR Labs-Progenics Agreement together with all Patent Rights and Know-How
      licensed thereunder to ProNev, Progenics’ wholly-owned subsidiary.

     

    10.6.2.  Direct
      License To Wyeth. Solely
      for the purpose of maintaining the continuity of the licenses granted by
      Progenics to Wyeth under this Agreement in the event that the UR Labs-Progenics
      Agreement is terminated for any reason other than as a result of Wyeth’s uncured
      material breach of this Agreement (a “Wyeth
      Non-Defaulting Termination”),
      ProNev hereby grants and agrees to grant to Wyeth a direct license under all
      Progenics Patent Rights and Progenics Know-How Controlled by ProNev. In such
      event, the foregoing license shall be on the terms and conditions of the UR-Labs
      Progenics Agreement (as amended) as supplemented by this Section 10.6
      (Effect
      of Termination of the UR Labs-Progenics Agreement). Furthermore, the license
      granted by ProNev to Wyeth under this Section 10.6.2
      shall
      remain in effect for the duration of the license granted by Progenics to Wyeth
      under this Agreement. Progenics hereby consents to ProNev’s grant of such a
      license to Wyeth. For purposes of this Section 10.6.2,
      the UR
      Labs-Progenics Agreement shall be deemed terminated on either (i) the date
      of
      termination pursuant to the UR Labs-Progenics Agreement after giving effect
      to
      any cure or grace periods, or (ii) in the event that Progenics initiates
      litigation or arbitration challenging the existence of a termination event,
      the
      date of a final determination of termination by a court of competent
      jurisdiction or binding arbitration panel.

     

    10.6.3.  Termination
      of Direct License to Wyeth. If
      and to
      the extent that the license granted by Progenics to Wyeth under this Agreement
      is terminated, in whole or in part, by Progenics pursuant to Section
10.2
      (Termination by Progenics), the license granted by ProNev to Wyeth under Section
      10.6.2
      (Direct
      License to Wyeth) shall likewise be automatically terminated to the same
      extent.

     

    

    10.6.4.  Payments
      in the Event of Termination of the UR Labs-Progenics Agreement.
In
      consideration of the direct license granted by ProNev to Wyeth under Section
      10.6.2
      (Direct
      License to Wyeth), in the event of a Wyeth Non-Defaulting Termination of the
      UR
      Labs-Progenics Agreement, Wyeth shall pay to ProNev any 

     

    
      
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    payments
      which Progenics would have been required to pay to ProNev under the UR
      Labs-Progenics Agreement (had the UR Labs-Progenics Agreement remained in
      effect) in connection with the license granted by Progenics to Wyeth under
      this
      Agreement at such times as such payments would have otherwise become due under
      the UR Labs-Progenics Agreement. Wyeth shall be entitled to deduct any amount
      owed to ProNev under this Section 10.6.4
      from any
      amounts that Wyeth owes to Progenics under this Agreement.

     

    10.6.5.  Restatement
      of License Agreement. In
      the
      event of a Wyeth Non-Defaulting Termination of the UR Labs-Progenics Agreement,
      at Wyeth’s request, Wyeth and ProNev shall enter into an agreement memorializing
      and restating the direct license granted to by ProNev to Wyeth under Section
      10.6.2
      (Direct
      License to Wyeth) on the terms and conditions provided for in this Section
      10.6
      (Effect
      of Termination of the UR Labs-Progenics Agreement).

     

    
      	11.  	
              INDEMNIFICATION
                AND INSURANCE. 

            

    

     

    11.1.  Indemnification
      by Wyeth.
      Wyeth
      will indemnify, defend and hold harmless Progenics, each of its Affiliates,
      and
      each of its and its Affiliates’ employees, officers, directors and agents (each,
      a “Progenics
      Indemnified Party”)
      from
      and against any and all liability, loss, damage, expense (including reasonable
      attorneys’ fees and expenses) and cost (collectively, a “Liability”)
      that
      the Progenics Indemnified Party may be required to pay to one or more Third
      Parties resulting from or arising out of:
      (a) any
      intentional misconduct or gross negligence on the part of Wyeth or its
      Affiliates in performing any activity contemplated by this Agreement; (b)
      personal injury or death of any person as a result of use of any Product sold
      by
      Wyeth, its Affiliates or Sublicensees; or (c) the material breach by Wyeth
      of
      any of its representations, warranties or covenants set forth in this Agreement;
      except, in each case, to the extent caused by the gross negligence or
      intentional misconduct of Progenics or any Progenics Indemnified
      Party.

     

    11.2.  Indemnification
      by Progenics.
      Progenics will indemnify, defend and hold harmless Wyeth, its Affiliates,
      sublicensees, distributors and each of its and their respective employees,
      officers, directors and agents (each, a “Wyeth
      Indemnified Party”)
      from
      and against any and all Liabilities that the Wyeth Indemnified Party may be
      required to pay to one or more Third Parties resulting from or arising out
      of:
      (a) any intentional misconduct or gross negligence on the part of Progenics
      or
      its Affiliates in performing any activity contemplated by this Agreement; (b)
      the material breach by Progenics of any of its representations, warranties
      or
      covenants set forth in this Agreement; or (c) personal injury or death of any
      person as a result of use of any Product supplied by Progenics for use in
      clinical trials to the extent caused by a manufacturing defect, except, in
      each
      case ((a), (b), and (c)), to the extent caused by the gross negligence or
      intentional misconduct of Wyeth or any Wyeth Indemnified Party.

     

    11.3.  Procedure.
      Each
      Party will notify the other Party in writing in the event it becomes aware
      of a
      Claim for which indemnification may be sought hereunder. In case any proceeding
      (including any governmental investigation) shall be instituted involving any
      Party in respect of which indemnity may be sought pursuant to this Section
      11
      (Indemnification and Insurance), such Party (the “Indemnified
      Party”)
      shall
      promptly notify the other Party (the “Indemnifying
      Party”)
      in
      writing and the Indemnifying Party and Indemnified Party shall meet to

     

    
      
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    discuss
      how to respond to any Claims that are the subject matter of such proceeding.
      The
      Indemnified Party shall cooperate fully with the Indemnifying Party in defense
      of such matter. The Indemnifying Party, upon request of the Indemnified Party,
      shall retain counsel reasonably satisfactory to the Indemnified Party to
      represent the Indemnified Party and shall pay the fees and expenses of such
      counsel related to such proceeding. In any such Claim, the Indemnified Party
      shall have the right to retain its own counsel, but the fees and expenses of
      such counsel shall be at the expense of the Indemnified Party unless (i) the
      Indemnifying Party and the Indemnified Party shall have mutually agreed to
      the
      retention of such counsel or (ii) the named parties to any such Claim (including
      any impleaded parties) include both the Indemnifying Party and the Indemnified
      Party and representation of both Parties by the same counsel would be
      inappropriate due to actual or potential differing interests between them.
      All
      such fees and expenses shall be reimbursed as they are incurred. The
      Indemnifying Party shall not be liable for any settlement of any Claim effected
      without its written consent, but, if settled with such consent or if there
      be a
      final judgment for the plaintiff, the Indemnifying Party agrees to indemnify
      the
      Indemnified Party from and against any loss or liability by reason of such
      settlement or judgment. The Indemnifying Party shall not, without the written
      consent of the Indemnified Party, effect any settlement of any pending or
      threatened Claim in respect of which the Indemnified Party is, or arising out
      of
      the same set of facts could have been, a party and indemnity could have been
      sought hereunder by the Indemnified Party, unless such settlement includes
      an
      unconditional release of the Indemnified Party from all liability on claims
      that
      are the subject matter of such proceeding.

     

    11.4.  Insurance.
      Progenics agrees to use Commercially Reasonable Efforts to obtain and maintain,
      during the Term of this Agreement, commercial general liability insurance,
      including products liability insurance, with reputable and financially secure
      insurance carriers to cover its indemnification obligations under 11.2
      (Indemnification by Progenics), in each case with limits of not less than [*]
      per occurrence and in the aggregate. Insurance shall be procured with carriers
      having an A.M. Best Rating of A-VII or better. 

     

    
      	12.  	
              REGULATORY
                MATTERS, PRODUCT SAFETY ISSUES, PRODUCT
                RECALLS

            

    

     

    12.1.  Regulatory
      Matters.

     

    12.1.1.  Cooperation
      and Sharing of Information. The
      Parties shall cooperate to support all interactions with any Regulatory
      Authority related to the Products in the Territory. Each Party will keep the
      other informed of their interactions with the FDA and Regulatory Authorities
      in
      the following countries: [*], including by providing copies of correspondence
      and submissions and timely notice of and invitations to attend meetings with
      the
      FDA and other such Regulatory Authorities. Each Party shall give the other
      reasonable opportunity to review and comment on submissions to the FDA and
      other
      such Regulatory Authorities prior to making such submissions.

     

    12.1.2.  FDA
      Interaction Related To SC Product and IV Product. Progenics
      shall be primarily responsible for coordinating all interactions with the FDA
      with respect to the SC Product and IV Product up to the time of FDA Regulatory
      Marketing Approval. Progenics shall be responsible for the content and responses
      to the FDA that 

     

    
      
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    are
      related to scientific and medical questions. Wyeth shall be responsible for
      the
      content and responses to the FDA that are related to labeling, Compound and
      Product specifications, chemistry and manufacturing control matters,
      post-approval studies and other post-approval commitments. Progenics and Wyeth
      will cooperate to prepare fully electronic submissions (eCTD) to the FDA. Once
      the SC Product receives Regulatory Marketing Approval in the U.S. from the
      FDA,
      Wyeth shall assume primary responsibility for all regulatory interactions for
      both the IND and NDA with the FDA with respect to the SC Product,
      and
      likewise, once the
      IV
      Product receives Regulatory Marketing Approval in the U.S. from the FDA, Wyeth
      shall assume primary responsibility for all regulatory interactions with the
      FDA
      with respect to the IV Product

     

    12.1.3.  Other
      Regulatory Interactions. Except
      as
      set forth in Section 12.1.2
      (FDA
      Interaction Related to SC Product and the IV Product) with respect to the SC
      Product and the IV Product, beginning on the Effective Date, Wyeth shall have
      sole responsibility for all investigational and Registrational Applications
      and
      other applications for Regulatory Approval and all interaction with any
      Regulatory Authority in the Territory with respect to any Product.
      For
      clarity, with respect to the SC Product and the IV Product, beginning on the
      Effective Date, Wyeth shall have sole responsibility for all Registrational
      Applications and other applications for Regulatory Approval outside the U.S.
      and
      all interactions with any Regulatory Authority outside the U.S.

     

    12.1.4.  Ownership
      of Regulatory Approvals.

     

    (a)  Progenics
      shall remain the owner of all right, title and interest in all FDA
      Registrational Filings and FDA Regulatory Approvals for the SC Product and
      IV
      Product in the U.S. (the “Progenics
      Regulatory Filings/Approvals”).
      Progenics and Wyeth shall each use Commercially Reasonable Efforts to take
      such
      actions as are necessary to enable Wyeth efficiently to take on the role
      described in Section 12.1.2
      (FDA
      Interactions Related to SC Product and IV Product), including without limitation
      submitting with the FDA all of the documents, letters, and information
      reasonably necessary or advisable to enable Wyeth to efficiently perform its
      responsibilities. 

     

    (b)  Except
      as
      otherwise provided in Section 12.1.4(a)
      with
      respect to the Progenics Regulatory Filings/Approvals, which shall remain the
      property of Progenics, Wyeth shall own all right, title and interest in all
      Registrational Filings and Regulatory Approvals for any Product and any
      applications therefore throughout the Territory. Promptly after the Effective
      Date, Progenics shall (i) transfer to Wyeth all Registrational Filings and
      Regulatory Approvals (if any) for any Product throughout the Territory and
      any
      applications therefore, other than the Progenics Regulatory Filings/Approvals
      (the “Transferred
      Regulatory Filings/Approvals”),
      and
      (ii) take such actions as are necessary to enable Wyeth to take on the role
      described in Sections 12.1.2
      (FDA
      Interaction Related to SC Product and IV Product) and 12.1.3
      (Other
      Regulatory Interactions). Wyeth shall reimburse Progenics for its
      non-de
      minimis
      out-of-pocket costs incurred in 

     

    
      
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    complying
      with the foregoing sentence. Wyeth and Progenics shall, at Wyeth’s expense, take
      any and all actions required by the relevant Regulatory Authorities to effect
      the transfer of the Transferred Regulatory Filings/Approvals from Progenics
      to
      Wyeth as soon as reasonably practicable after the Effective Date, including
      without limitation filing with appropriate Regulatory Authorities all of
      documents, letters and information required by the Regulatory Authorities to
      effect such transfer. Progenics may retain archival copies of the Transferred
      Regulatory Filings/Approvals, including supplements and records relating
      thereto.

     

    12.1.5.  Wyeth
      Affiliates and Sublicensees.
      Nothing
      in this Section shall limit Wyeth’s ability to authorize any Wyeth Affiliate or
      Wyeth Sublicensee to seek or obtain any Regulatory Approval outside the United
      States for any Product or own any such Regulatory Approval obtained as a result
      of any such application or Wyeth’s ability to assign ownership of any Regulatory
      Approval or application therefore.

     

    12.1.6.  Right
      of Reference. Each
      Party hereby grants to the other a “right of reference,” as that term is defined
      in 21 C.F.R. § 314.3(b), to any data controlled by such Party that relates to
      any Product, and each Party shall provide a signed statement to this effect,
      if
      requested by the other Party, in accordance with 21 C.F.R. §
314.50(g)(3).

     

    12.2.  Medical
      and Customer Inquiries. During
      Commercialization of any Product,
      Wyeth,
      its Affiliates and Sublicensee, as appropriate, shall be responsible for
      responding to all inquiries related to such Product raised by health care
      professionals or other customers. 

     

    12.3.  Safety
      Agreement.
      After
      the Effective Date the Parties shall enter into a Safety Agreement substantially
      in the form of the Wyeth form of Safety Agreement previously agreed by the
      Parties (the “Safety
      Agreement”)
      providing for, among other things, the maintenance by Progenics of an adverse
      event database for the SC Product and the IV Product until FDA Regulatory
      Marketing Approval, AE or ADR reporting including literature review and
      associated reporting; AE or ADR follow-up reporting; preparation and submission
      of all safety reports to the regulatory authorities as required by local laws
      and/or regulations in the Territory; global safety database maintenance; product
      quality complaint handling; all interactions with health authorities, including
      a formal process to adequately communicate urgent issues regarding safety and
      labeling; periodic submissions; labeling modifications; safety monitoring and
      detection; and safety measures (e.g., Dear Doctor Letter, restriction on
      distribution).

     

    12.4.  Product
      Recalls. Wyeth
      shall be solely responsible at Wyeth’s expense for all contact with Regulatory
      Authorities relating to any Recall of any Product. Wyeth shall be solely
      responsible at Wyeth’s expense for implementing, directing and administering any
      Recall of any Product required or recommended by any Regulatory Authority or
      court of competent jurisdiction, or determined by Wyeth, in its sole discretion,
      to be necessary or advisable. If Wyeth is required or voluntarily decides to
      initiate a Recall with respect to any Product, whether or not such Recall has
      been requested or ordered by any Regulatory Authority, Wyeth shall promptly
      notify Progenics of such requirement or decision.

     

    12.5.  Cost
      of Recalls. Wyeth
      shall be solely responsible for the cost of any Recall.

     

    

    
      
         

      

      
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      	13.  	
              MISCELLANEOUS.

            

    

     

    13.1.  Change
      of Control. If
      a Top
      15 Pharmaceutical Company acquires control of Progenics in a Progenics Change
      of
      Control transaction, then Wyeth shall have the right to terminate the
      Co-Promotion Agreement by providing written notice to Progenics within [*]
      ([*])
      days of the receipt of notice by Wyeth of the Change in Control, and Sections
      5.1
      (Co-Promotion Option) and 5.5
      (Sharing
      of Information; Progenics Commercial Organization) of this Agreement shall
      cease
      to have any effect and the JCC shall be disbanded.

     

    13.2.  Assignment.
      Neither
      this Agreement nor any interest under this Agreement shall be assignable by
      any
      party to this Agreement without the prior written consent of the other parties,
      except as follows: Either Party may assign its rights and obligations under
      this
      Agreement by way of sale of such Party itself or the sale of a substantial
      portion of the business of such Party to which this Agreement relates, through
      merger, sale of assets and/or sale of stock or ownership interest, provided
      that
      such sale is not primarily for the benefit of such Party’s creditors. ProNev may
      assign its rights and obligations under this Agreement only in connection with
      a
      sale of Progenics or the sale of a substantial portion of the business of
      Progenics and ProNev to which this Agreement relates, through merger, sale
      of
      assets and/or sale of stock or ownership interest, provided that such sale
      is
      not primarily for the benefit of such Party’s creditors. In any such case, the
      assignment may only be made to the person acquiring the party to this Agreement
      or the business of the party. Each party to this Agreement shall promptly notify
      the other Party of any assignment or transfer under the provisions of this
      Section. This Agreement shall be binding upon the successors and permitted
      assigns of the parties to this Agreement and the name of a party to this
      Agreement appearing herein shall be deemed to include the names of such party’s
      successors and permitted assigns to the extent necessary to carry out the intent
      of this Agreement. Any assignment not in accordance with this Section
13.2
      (Assignment) shall be void.

     

    13.3.  Further
      Actions.
      Each
      party to this Agreement agrees to execute, acknowledge and deliver such further
      instruments, and to do all such other acts, as may be necessary or appropriate
      in order to carry out the purposes and intent of the Agreement.

     

    13.4.  Force
      Majeure.
      Neither
      Party shall be liable to the other for delay or failure in the performance
      of
      the obligations on its part contained in this Agreement if and to the extent
      that such failure or delay is due to circumstances beyond its control that
      it
      could not have avoided by the exercise of reasonable diligence. It shall notify
      the other Party promptly in the event such circumstances arise, giving an
      indication of the likely extent and duration thereof, and shall use all
      Commercially Reasonable Efforts to resume performance of its obligations as
      soon
      as practicable; provided,
      however,
      that
      neither Party shall be required to settle any labor dispute or
      disturbance.

     

    13.5.  Correspondence
      and Notices.

     

    13.5.1.  Ordinary
      Notices. Correspondence,
      reports, documentation, and any other communication in writing between the
      Parties in the course of ordinary implementation of this Agreement shall be
      delivered by hand, sent by facsimile transmission (receipt verified), or by
      nationally recognized overnight delivery service to 

     

    
      
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    the
      employee or representative of the other Party who is designated by such other
      Party to receive such written communication.

     

    13.5.2.  Extraordinary
      Notices. Extraordinary
      notices and communications (including, without limitation, notices of
      termination, force majeure, material breach, change of address) shall be in
      writing and delivered by hand or sent by nationally recognized overnight
      delivery service, prepaid registered or certified air mail, or by facsimile
      confirmed by prepaid first class, registered or certified mail letter, and
      shall
      be deemed to have been properly served to the addressee upon receipt of such
      written communication.

     

    All
      correspondence to Wyeth shall be addressed as follows: 

     

    Wyeth
      Pharmaceuticals Division

    500
      Arcola Road

    Collegeville,
      Pennsylvania 19426

    Attn:
      Senior Vice President, Corporate Business Development

    Fax:
      (484) 865-6476

    

    Wyeth-Whitehall
      Pharmaceuticals, Inc.

    Road
      No.
      3, Kilometer 142.1

    Guayama,
      Puerto Rico 00784

    Attention:
      General Manager

    Fax:
      (787) 866-7273

    

       Wyeth-Ayerst
      Lederle, Inc.

    P.O.
      Box
      6023

    65th
      Infantry Road, Kilometer 9.7

    Carolina,
      Puerto Rico 00987-4904

    Attention:
      Managing Director

    Fax:
      (787) 762-3395

    

     

    with
      a
      copy to:

     

    Wyeth

    5
      Giralda
      Farms

    Madison,
      New Jersey 07940

    Attn:
      General Counsel

    Fax:
      (973) 660-7156 

    

     

    All
      correspondence to Progenics and ProNev shall be addressed as
      follows: 

     

    Progenics
      Pharmaceuticals, Inc.

    777
      Old
      Saw Mill River Road

    Tarrytown,
      New York 10591

    
      
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    Attn:
      Chief Executive Officer

    Fax:
      (914) 789-2817

    

    with
      a
      copy to:

     

    Progenics
      Pharmaceuticals, Inc.

    777
      Old
      Saw Mill River Road

    Tarrytown,
      New York 10591

    Attn:
      General Counsel

    Fax:
      (914) 789-2856

    

    13.6.  Amendment.
      No
      amendment, modification or supplement of any provision of this Agreement shall
      be valid or effective unless made in writing and signed by a duly authorized
      officer of each Party.

     

    13.7.  Waiver.
      No
      provision of the Agreement shall be waived by any act, omission or knowledge
      of
      a Party or its agents or employees except by an instrument in writing expressly
      waiving such provision and signed by a duly authorized officer of the waiving
      Party.

     

    13.8.  Severability.
      If any
      clause or portion thereof in this Agreement is for any reason held to be
      invalid, illegal or unenforceable, the same shall not affect any other portion
      of this Agreement, as it is the intent of the Parties that this Agreement shall
      be construed in such fashion as to maintain its existence, validity and
      enforceability to the greatest extent possible. In any such event, this
      Agreement shall be construed as if such clause of portion thereof had never
      been
      contained in this Agreement, and there shall be deemed substituted therefore
      such provision as will most nearly carry out the intent of the Parties as
      expressed in this Agreement to the fullest extent permitted by applicable
      law.

     

    13.9.  Descriptive Headings.
      The
      descriptive headings of this Agreement are for convenience only and shall be
      of
      no force or effect in construing or interpreting any of the provisions of this
      Agreement.

     

    13.10.  Entire Agreement.
      This
      Agreement constitutes and contains the complete, final and exclusive
      understanding and agreement of the Parties and cancels and supersedes any and
      all prior negotiations, correspondence, understandings and agreements, whether
      oral or written, between the Parties respecting the subject matter hereof and
      thereof.

     

    13.11.  Independent Contractors.
      Both
      Parties are independent contractors under this Agreement. Nothing herein
      contained shall be deemed to create an employment, agency, joint venture or
      partnership relationship between the Parties hereto or any of their agents
      or
      employees, or any other legal arrangement that would impose liability upon
      one
      Party for the act or failure to act of the other Party. Neither Party shall
      have
      any express or implied power to enter into any contracts or commitments or
      to
      incur any liabilities in the name of, or on behalf of, the other Party, or
      to
      bind the other Party in any respect whatsoever.
      Other
      than the express duties and obligations set forth in this Agreement, neither
      Party shall have any implied fiduciary to the other Party.

     

    
      
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    13.12.  Counterparts.
      This
      Agreement may be executed in any number of counterparts, each of which need
      not
      contain the signature of more than one Party but all such counterparts taken
      together shall constitute one and the same agreement.

     

    13.13.  Future Relationships.
      Nothing
      contained in this Agreement shall be construed, by implication or otherwise,
      as
      an obligation of any Party hereto to enter into a further agreement regarding
      the subject matter of this Agreement. Further, other than expressly stated
      herein, nothing herein shall be construed to grant either Party hereto a
      license, either express or implied, to any patent, know-how, trademark, or
      trade
      name of the other Party.

     

    13.14.  Interpretation.
      The use
      of any gender herein shall be deemed to be or include the other genders and
      the
      use of the singular herein shall be deemed to include the plural (and vice
      versa), wherever appropriate. The words “include”, “includes” and “including”
shall be deemed to be followed by the phrase “without limitation.” The word
“will” shall be construed to have the same meaning and effect as the word
“shall.” Unless the context requires otherwise (a) any definition of or
      reference to any agreement, instrument or other document herein shall be
      construed as referring to such agreement, instrument or other document as from
      time to time amended, supplemented or otherwise modified, (b) any reference
      herein to any Person shall be construed to include the Person’s successors and
      assigns, (c) the words “herein”, ”hereof” and ”hereunder”, and words of similar
      import, shall be construed to refer to this Agreement in its entirety and not
      to
      any particular provision hereof, and (d) all references herein to Sections,
      Exhibits or Schedules shall be construed to refer to Sections, Exhibits and
      Schedules of this Agreement.

     

    13.15.  No
      Third Party Rights or Obligations. No
      provision of this Agreement shall be deemed or construed in any way to result
      in
      the creation of any rights or obligation in any Person not a Party to this
      Agreement.

     

    13.16.  Governing Law.
      This
      Agreement, the rights of the parties and all Claims arising in whole or in
      part
      under or in connection herewith, will be governed by and construed in accordance
      with the substantive laws in effect in the State of New York, without giving
      effect to any choice or conflict of law provision or rule that would cause
      the
      application of the laws of any other jurisdiction.

     

    13.17.  Jurisdiction;
      Venue; Service of Process.

     

    13.17.1.  Jurisdiction.
      Each
      party to this Agreement, by its execution hereof, (a) hereby irrevocably submits
      to the exclusive jurisdiction of the state courts of the State of New York
      located in New York City or the United States District Court for the Southern
      District of New York located in New York City for the purpose of any Claim
      between the parties arising in whole or in part under or in connection with
      this
      Agreement, (b) hereby waives to the extent not prohibited by applicable law,
      and
      agrees not to assert, by way of motion, as a defense or otherwise, in any such
      Claim, any claim that it is not subject personally to the jurisdiction of the
      above-named courts, that its property is exempt or immune from attachment or
      execution, that any such Claim brought in one of the above-named courts should
      be dismissed on grounds of forum
      non conveniens,
      should
      be transferred or removed to any court other than one of the above-

     

    
      
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    named
      courts, or should be stayed by reason of the pendency of some other proceeding
      in any other court other than one of the above-named courts, or that this
      Agreement or the subject matter hereof may not be enforced in or by such court
      and (c) hereby agrees not to commence any such Claim other than before one
      of
      the above-named courts. Notwithstanding the previous sentence, a party may
      commence any Claim in a court other than the above-named courts solely to seek
      pre-litigation attachment of assets or preliminary injunction relief prior
      to
      litigation on the merits in the above-named courts or for the purpose of
      enforcing an order or judgment issued by one of the above-named
      courts.

     

    13.17.2.  
      Venue. Each
      party agrees that for any Claim between the parties arising in whole or in
      part
      under or in connection with this Agreement, such party bring Claims only in
      the
      City of New York. Each party further waives any claim and will not assert that
      venue should properly lie in any other location within the selected
      jurisdiction.

     

    13.17.3.  
      Service of Process.
      Each
      party hereby (a) consents to service of process in any Claim between the parties
      arising in whole or in part under or in connection with this Agreement in any
      manner permitted by New York law, (b) agrees that service of process made in
      accordance with clause (a) or made by registered or certified mail, return
      receipt requested, at its address specified pursuant to Section 13.5,
      will
      constitute good and valid service of process in any such Claim and (c) waives
      and agrees not to assert (by way of motion, as a defense, or otherwise) in
      any
      such Claim any claim that service of process made in accordance with clause
      (a)
      or (b) does not constitute good and valid service of process.

     

    13.18.  Waiver
      of Jury Trial. TO
      THE
      EXTENT NOT PROHIBITED BY APPLICABLE LAW THAT CANNOT BE WAIVED, THE PARTIES
      HEREBY WAIVE, AND COVENANT THAT THEY WILL NOT ASSERT (WHETHER AS PLAINTIFF,
      DEFENDANT OR OTHERWISE), ANY RIGHT TO TRIAL BY JURY IN ANY ACTION ARISING IN
      WHOLE OR IN PART UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE
      CONTEMPLATED TRANSACTIONS, WHETHER NOW EXISTING OR HEREAFTER ARISING, AND
      WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE. THE PARTIES AGREE THAT ANY
      OF
      THEM MAY FILE A COPY OF THIS PARAGRAPH WITH ANY COURT AS WRITTEN EVIDENCE OF
      THE
      KNOWING, VOLUNTARY AND BARGAINED-FOR AGREEMENT AMONG THE PARTIES IRREVOCABLY
      TO
      WAIVE ITS RIGHT TO TRIAL BY JURY IN ANY PROCEEDING WHATSOEVER BETWEEN THEM
      RELATING TO THIS AGREEMENT OR ANY OF THE CONTEMPLATED TRANSACTIONS WILL INSTEAD
      BE TRIED IN A COURT OF COMPETENT JURISDICTION BY A JUDGE SITTING WITHOUT A
      JURY. 

     

    13.19.  Dispute
      Resolution. 
      Except
      as set forth in Section 3.1.3
      (Decision Making) with respect to tie votes regarding decisions within the
      jurisdiction of the various Committees, if the Parties are otherwise unable
      to
      resolve a dispute among them informally, Wyeth or Progenics, by written notice
      to the other, may have such dispute referred to their respective executive
      officers 

     

    
      
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    designated
      for attempted resolution by good faith negotiations (each, a “Responsible
      Executive”).

     

    For
      Wyeth: [*]

    

    For
      Progenics: [*]

    

    Any
      such
      dispute shall be submitted to the Responsible Executives no later than thirty
      (30) days following such request by either the JSC or Wyeth or Progenics. In
      the
      event the Responsible Executives are not able to resolve any such dispute within
      thirty (30) days after submission of the dispute to such executive officers,
      Wyeth or Progenics, as the case may be, may pursue whatever measures legally
      available to resolve such dispute. All negotiations pursuant to this Section
      13.19  shall
      be
      treated as compromise and settlement negotiations. Nothing said or disclosed,
      nor any document produced, in the course of such negotiations which is not
      otherwise independently discoverable shall be offered or received as evidence
      or
      used for impeachment or for any other purpose in any current or future
      arbitration or litigation between the Parties. 

     

    13.20.  Specific
      Performance. The
      parties to this Agreement agree that if any of the provisions of this Agreement
      were not performed in accordance with their specific terms, or were otherwise
      breached, irreparable damage may occur which would be extremely impractical
      or
      difficult to measure and that as a result no adequate remedy of law may exist;
      accordingly the non-defaulting party, in addition to any other available rights
      or remedies, shall have the right to seek, in a court of competent jurisdiction,
      specific performance of the terms of this Agreement.

     

    13.21.  Purchases
      of Equity Securities.  

     

    13.21.1.   General.
      From
      the
      date hereof until one (1) year after the First Commercial Sale of any Product
      in
      the United States, except as permitted hereunder, Wyeth and its corporate
      Affiliates will not directly or indirectly in any manner:

     

    (a)  acquire,
      or agree to acquire by purchase beneficial ownership (within the meaning of
      Rule
      13d-3 under the Securities Exchange Act of 1934, as amended (the “Exchange
      Act”))
      in
      any voting securities of Progenics;

     

    (b)  make,
      or
      actively participate in any “solicitation”
of
      “proxies”
to
      vote
      (as such terms are used in the proxy rules of the Securities and Exchange
      Commission (the “SEC”)
      promulgated pursuant to Section 14 of the Exchange Act) with respect to (a)
      a
      business combination, restructuring, recapitalization or similar transaction
      with Progenics or (b) election or removal of directors; provided,
      however,
      that
      the prohibition in this Section 13.21.1
      shall
      not apply to solicitations exempted from the proxy solicitation rules by Rule
      14a-2 under the Exchange Act as such Rule 14a-2 is in effect as of the date
      hereof;

     

    (c)  form,
      join or in any way participate in a “group”
within
      the meaning of Section 13(d)(3) of the Exchange Act with respect to any voting
      securities of Progenics;

     

    
      
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    (d)  enter
      into any arrangement or understanding with others to do any of the actions
      restricted or prohibited under Sections 13.21(a),(b)
      or
(c);
      or

     

    (e)  otherwise
      publicly offer to Progenics or any of its stockholders any business combination,
      restructuring, recapitalization or similar transaction to or with Progenics
      or
      otherwise seek in concert with others, to control or change the board of
      directors of Progenics or nominate any person as a director of Progenics who
      is
      not nominated by the then incumbent directors, or propose any matter to be
      voted
      upon by the stockholders of Progenics with respect to a business combination,
      restructuring, recapitalization or similar transaction with
      Progenics.

     

    13.21.2.  Exceptions
      for Purchasing Securities of Progenics.
      Nothing
      herein shall prevent:

     

    (a)  Wyeth
      from purchasing additional securities of Progenics if after such purchase Wyeth
      and its corporate Affiliates would own no greater percent of the total voting
      power of all voting securities of Progenics then outstanding than Wyeth and
      such
      corporate Affiliates owned immediately prior to the Effective Date.

     

    (b)  Wyeth
      from acquiring securities of Progenics issued in connection with stock splits,
      stock dividends or recapitalizations or on exercise of pre-emptive or other
      purchase rights afforded to Progenics stockholders generally.

     

    (c)  Wyeth
      or
      Wyeth’s Affiliates from purchasing securities of Progenics pursuant to (i) a
      pension plan established for the benefit of Wyeth’s employees, (ii) any employee
      benefit plan of Wyeth or (iii) any stock portfolios not controlled by Wyeth
      or
      any of its corporate Affiliates that invest in Progenics among other
      companies.

     

    (d)  Wyeth
      from acquiring securities of another biotechnology or pharmaceutical company
      that beneficially owns any of Progenics’ securities.

     

    13.21.3.  Exceptions.
      The
      limitations provided in Section 13.21
      (Purchase of Equity Securities) shall immediately terminate upon the occurrence
      of any of the following events: 

     

    (a)  the
      commencement by any person of a tender or exchange offer seeking to acquire
      beneficial ownership of fifty percent (50%) or more of the outstanding shares
      of
      voting securities of Progenics; 

     

    (b)  the
      execution of an agreement which, if consummated, would result in either (i)
      the
      beneficial owners of Progenics voting securities or voting power beforehand
      owning less than 50% of the voting securities or voting power of the surviving
      company in the transaction or (ii) the sale of all or substantially all of
      the
      assets of Progenics; 

     

    
      
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    (c)  during
      any twelve month period, there is a change in the composition of the Progenics
      board of directors such that the individuals constituting such board at the
      beginning of such period cease for any reason to constitute a majority of the
      board; or

     

    (d)  the
      adoption of a plan of liquidation or dissolution with respect to
      Progenics.

     

    13.21.4.  Exclusion.
      No
      action
      or actions taken by Wyeth or any of its Affiliates pursuant to the terms of
      this
      Agreement or any collaboration agreement between Wyeth or its Affiliates, on
      the
      one hand, and Progenics or its Affiliates, on the other hand, or in connection
      with exercising or enforcing rights hereunder or thereunder shall be deemed
      to
      violate the restrictions contained herein.

     

    

    [SIGNATURE
      PAGE FOLLOWS]

    

    
      
        
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    IN
      WITNESS WHEREOF, duly authorized representatives of the Parties have duly
      executed this Agreement to be effective as of the Effective Date. 

     

    
      	
              Wyeth,
                acting through its Wyeth Pharmaceuticals Division

            	
              Progenics
                Pharmaceuticals, Inc.

            
	
               

               

              By_/s/
                Mark
                L. Lee

            	
               

               

              By_/s/
                Paul
                J. Maddon

            
	
              Name: Mark
                L. Lee

              Title:
                 Senior
                Vice President-Global Business

              Development

            	
              Name: Paul
                J. Maddon

              Title:
                 Chief
                Executive Officer

            
	 	 
	
              Wyeth-Whitehall
                Pharmaceuticals, Inc.

            	
              Progenics
                Pharmaceuticals Nevada, Inc.

            
	
               

               

              By_/s/
                Ronald
                W. Alice

            	
               

               

              By_/s/
                Paul
                J. Maddon

            
	
              Name: Ronald
                W. Alice

              Title:
                 Assistant
                Secretary

            	
              Name: Paul
                J. Maddon

              Title:
                 President

            
	 	 
	
              Wyeth-Ayerst
                Lederle, Inc.

            	 
	
               

               

              By_/s/
                Ronald
                W. Alice

            	 
	
              Name: Ronald
                W. Alice

              Title:
                 Assistant
                Secretary

            	 

    

    

    

    
      
        
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    SCHEDULE
      1.10

    

    CHEMICAL
      DRAWING OF THE COMPOUND 

     

    

    

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    SCHEDULE
      8.4.2

     

    

     

    PRESS
      RELEASE

     

    For
      Immediate Release 

    
      	
              Contacts:

            	
              Wyeth:

               

              Media
                Contact:

              Gerald
                Burr

              Wyeth
                Pharmaceuticals

              (484)
                865-5138

               

              Douglas
                Petkus

              Wyeth
                

              (973)
                660-5218

               

              Investor
                Contacts:

              Justin
                Victoria

              Wyeth

              (973)
                660-5340

            	
              Progenics
                Pharmaceuticals, Inc.:

               

              Richard
                W. Krawiec, Ph.D.

              VP,
                Investor Relations 

              and
                Corporate Communications 

              (914)
                789-2800

              rkrawiec@progenics.com

            

    

    

    WYETH
      AND
      PROGENICS PHARMACEUTICALS ANNOUNCE WORLDWIDE COLLABORATION TO DEVELOP AND
      COMMERCIALIZE METHYLNALTREXONE 

     

    

     

    -
      Methylnaltrexone in late-stage clinical development for opioid-induced
      constipation

     

    and
      post-operative bowel dysfunction -

     

    

     

    Madison,
      NJ and Tarrytown, NY - December 23, 2005
      - Wyeth
      Pharmaceuticals, a division of Wyeth (NYSE: WYE) and Progenics Pharmaceuticals,
      Inc. (Nasdaq: PGNX) today announced that they have entered into an exclusive,
      worldwide agreement for the joint development and commercialization of
      methylnaltrexone (MNTX) for the treatment of opioid-induced side effects,
      including constipation and post-operative bowel dysfunction. These medical
      conditions are major therapeutic challenges in the management of
      gastrointestinal function in individuals treated with opioids for pain or in
      patients following serious or prolonged surgeries. 

     

    Under
      the
      terms of the collaboration, Wyeth receives worldwide rights to MNTX, and
      Progenics retains an option to co-promote the product in the United States.
      The
      companies will collaborate on the worldwide development of MNTX. The transaction
      includes an upfront payment of $60 million to Progenics with as much as an
      additional $356.5 million payable upon achievement of certain milestones. Wyeth
      will pay Progenics royalties on worldwide sales of MNTX and co-promotion fees
      within the United States. Additionally, Wyeth is responsible for all future
      development and commercialization costs. 

     

    
      
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    “MNTX
      fits well within our current portfolio and represents a broad treatment platform
      with multiple products intended to address unmet medical needs in opioid-induced
      bowel disorders,” says Bernard Poussot, President of Wyeth Pharmaceuticals and
      Executive Vice President, Wyeth. “Our collaboration with Progenics strengthens
      Wyeth’s leadership position in the field of gastroenterology. Importantly,
      within Wyeth, we have selected MNTX for
      streamlined development.”

    

    “Our
      collaboration with Wyeth maximizes the global development, commercialization,
      and market potential of MNTX across a broad range of therapeutic indications,”
says Paul J. Maddon, M.D., Ph.D., Progenics’ Founder, Chief Executive Officer
      and Chief Science Officer. “Progenics and Wyeth share a vision for bringing this
      important new therapy to market for the millions of patients who suffer from
      the
      debilitating side effects of opioid pain medications.”

    

    Currently,
      there are no therapies approved to treat the side effects of opioids. These
      side
      effects often prevent optimal pain control and may prolong hospitalization.
      The
      ability to deliver MNTX using three dosage forms and routes of administration
      represents a significant benefit to patients and health care professionals.
      Each
      MNTX dosage form is tailored to address the needs of specific clinical
      applications based on onset of action, predictability of response, dosing
      flexibility and ease of use. The three MNTX product candidates are:

    

    
      	·  	
              Subcutaneous
                injection for the treatment of intractable constipation in patients
                with
                advanced medical illness (AMI), including cancer and
                AIDS;

            

    

    
      	·  	
              Intravenous
                infusion for the treatment of patients with gastrointestinal tract
                and
                urinary dysfunction that commonly occurs after major abdominal and
                prolonged surgeries; and

            

    

    
      	·  	
              Oral
                formulation for the treatment of opioid-induced constipation in patients
                with chronic pain, including those suffering from headaches, joint
                pain,
                lower-back pain, sickle-cell disease, muscle pain and other disorders
                requiring opioid analgesics.

            

    

     

    Progenics
      is completing a second pivotal phase 3 clinical study of subcutaneous MNTX
      in
      AMI. In 2006, clinical studies in post-operative bowel dysfunction with
      intravenous MNTX are scheduled to enter phase 3, and the oral product will
      enter
      phase 2 in patients receiving opioids for chronic pain. Under the terms of
      the
      collaboration, Wyeth will develop oral MNTX worldwide. Progenics will lead
      the
      U.S. development of subcutaneous and intravenous MNTX, while Wyeth will lead
      development of these parenteral products outside the U.S. Wyeth and Progenics
      will pursue an integrated strategy to optimize worldwide development, regulatory
      approval, and commercial launch of the three MNTX products which may impact
      timelines previously disclosed by Progenics. Decisions regarding the timelines
      for development of the three MNTX products will be made by the Joint Development
      Committee, consisting of members from both Wyeth and Progenics.

    

    Background

    

    Opioids
      are widely used to lessen suffering in advanced cancer and other terminal
      diseases. To relieve pain, narcotic medications such as morphine activate
      specific opioid receptors located in the central nervous system - the brain
      and
      spinal cord. Opioids, however, also interact with these receptors outside of
      the
      central nervous system, resulting in side effects, which can be debilitating,
      including constipation, urinary retention and severe itching. MNTX is designed
      to block peripheral opioid receptors whose activation causes these side effects.
      As MNTX does not cross the blood-brain barrier, it does not interfere with
      brain-centered pain relief.

    
      
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      	·  	
              Advanced
                medical illness: Approximately
                1.7 million patients suffer from AMI each year in the U.S., including
                patients with cancer, AIDS, sickle-cell disease and other painful
                terminal
                illnesses. The majority of those treated with opioids for pain suffer
                debilitating constipation. 

            

    

    

    
      	·  	
              Post-operative
                bowel dysfunction: More
                than 20 million surgeries occur in the U.S. each year, with more
                than
                two-million patients at high risk for developing post-operative bowel
                dysfunction, a serious paralysis of the gastrointestinal tract.
                Post-operative bowel dysfunction is a major factor in increasing
                hospital
                stay, as patients are typically not discharged until bowel and urinary
                functions are restored. 

            

    

    

    
      	·  	
              Chronic
                pain:
                Approximately five-million patients receive opioids on a chronic
                basis,
                and many experience chronic opioid-induced constipation.
                

            

    

    

    Company
      Profiles

    

    Wyeth
      is one
      of the world’s largest research-driven pharmaceutical and health care products
      companies. It is a leader in the discovery, development, manufacturing and
      marketing of pharmaceuticals, vaccines, biotechnology products and
      nonprescription medicines that improve the quality of life for people worldwide.
      The Company’s major divisions include Wyeth Pharmaceuticals, Wyeth Consumer
      Healthcare, and Fort Dodge Animal Health.

     

    Progenics
      Pharmaceuticals, Inc.,
      of
      Tarrytown, NY is a biopharmaceutical company focusing on the development and
      commercialization of innovative therapeutic products to treat the unmet medical
      needs of patients with debilitating conditions and life-threatening diseases.
      Principal programs are directed toward symptom management and supportive care
      and the treatment of HIV infection and cancer. The Company has four product
      candidates in clinical development and several others in preclinical
      development. The Company, in collaboration with Wyeth, is
      developing methylnaltrexone (MNTX) for the treatment of opioid-induced side
      effects, including constipation and post-operative bowel
      dysfunction.
      In the
      area of HIV infection, the Company is developing the viral-entry inhibitor
      PRO
      140, a humanized monoclonal antibody targeting the HIV coreceptor CCR5 (in
      phase
      1b studies). In addition, the Company is conducting research on ProVax, a novel
      prophylactic HIV vaccine. In collaboration with Cytogen Corporation, the Company
      is developing immunotherapies for prostate cancer, including a human monoclonal
      antibody directed against prostate-specific membrane antigen (PSMA), a protein
      found on the surface of prostate cancer cells. Progenics is also developing
      vaccines designed to stimulate an immune response to PSMA. A recombinant PSMA
      vaccine is in phase 1 clinical testing. The Company is also developing a cancer
      vaccine, GMK, in phase 3 clinical trials for the treatment of malignant
      melanoma.

    

    WYETH
      DISCLOSURE NOTICE: The
      statements in this press release that are not historical facts are
      forward-looking statements based on current expectations of future events that
      involve risks and uncertainties including, without limitation, risks associated
      with the inherent uncertainty of the timing and success of pharmaceutical
      research, product development, manufacturing, commercialization, economic
      conditions including interest and currency exchange rate fluctuations, changes
      in generally accepted accounting principles, the impact of competitive or
      generic products, trade buying patterns, wars or terrorist acts, product
      liability and other types of lawsuits, the impact of legislation and regulatory
      compliance and obtaining reimbursement, favorable drug pricing, access and
      other
      approvals, environmental liabilities, and patent, and other risks and
      uncertainties, including those detailed from time to time in the Company’s
      periodic reports, including current reports on Form 8-K, quarterly reports
      on
      Form 10-Q and the annual report on Form 10-K, filed with the Securities and
      Exchange Commission. Actual results may vary materially from the forward-looking
      statements. The Company assumes no 

     

    
      
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    obligation
      to publicly update any forward-looking statements, whether as a result of new
      information, future events or otherwise.

     

    PROGENICS
      DISCLOSURE NOTICE:
      The
      information contained in this document is current as of December 23, 2005.
      This
      press release contains forward-looking statements. Any statements contained
      herein that are not statements of historical fact may be forward-looking
      statements. When the Company uses the words ‘anticipates,’ ‘plans,’ ‘expects’
and similar expressions, it is identifying forward-looking statements. Such
      forward-looking statements involve risks and uncertainties which may cause
      the
      Company’s actual results, performance or achievements to be materially different
      from those expressed or implied by forward-looking statements. Such factors
      include, among others, the risk that we will not be able to obtain funding
      necessary to conduct our operations, the uncertainties associated with product
      development, the risk that clinical trials will not commence, proceed or be
      completed as planned, the risks and uncertainties associated with dependence
      upon the actions of our corporate, academic and other collaborators and of
      government regulatory agencies, the risk that our licenses to intellectual
      property may be terminated because of our failure to have satisfied performance
      milestones, the risk that products that appear promising in early clinical
      trials are later found not to work effectively or are not safe, the risk that
      we
      may not be able to manufacture commercial quantities of our products, the risk
      that our products, if approved for marketing, do not gain market acceptance
      sufficient to justify development and commercial costs, the uncertainty of
      future profitability and other factors set forth more fully in the Company’s
      Annual Report on Form 10-K for the fiscal year ended December 31, 2004 and
      other
      reports filed with the Securities and Exchange Commission, to which investors
      are referred for further information. In particular, the Company cannot assure
      you that any of its programs will result in a commercial product.

    

    Progenics
      does not have a policy of updating or revising forward-looking statements and
      assumes no obligation to update any forward-looking statements contained in
      this
      document as a result of new information or future events or developments. Thus,
      it should not be assumed that the Company’s silence over time means that actual
      events are bearing out as expressed or implied in such forward-looking
      statements.

    

    ###

     

    Editor’s
      Note:

    Additional
      information on Progenics available at http://www.progenics.com 

    Additional
      information on Wyeth available at http://www.wyeth.com

    

    Progenics
      Pharmaceuticals issued two press releases today. The other release is entitled:
      

    Progenics
      Acquires Methylnaltrexone Royalty Rights from Licensors and Files Shelf
      Registrations

    

    

     

    
      
        
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                                            SCHEDULE
      9.2

     

                              DISCLOSURE
      SCHEDULE

     

     

     

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    SCHEDULE
      9.2(C)
      PROGENICS THIRD PARTY AGREEMENTS

    

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    EXHIBIT
      A

    

    FORM
      OF CO-PROMOTION AGREEMENT

    

    

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