Document:

ex_230490.htm

 

Exhibit 10.33

 

CERTAIN INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT IN PLACES MARKED “[***]” BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED.

 

THIRD AMENDMENT AGREEMENT 

 

This Amendment Agreement is made effective December 11, 2009 by and between Albert Einstein College of Medicine of Yeshiva University, a Division of Yeshiva University, a corporation organized and existing under the laws of the State of New York, having an office and place of business at 1300 Morris Park Avenue, Bronx, New York 10461 (“AECOM”), Industrial Research Ltd., a company organized and existing under the laws of New Zealand, having an office and place of business at Gracefield Research Centre, Gracefield Road, P.O. Box 31-310, Lower Hutt, New Zealand (“Industrial”) (AECOM and Industrial are collectively referred to herein as “Licensors”), and BioCryst Pharmaceuticals, Inc., a corporation organized and existing under the laws of the State of Delaware having an office and place of business at 2190 Parkway Lake Drive, Birmingham, Alabama 35244 (“Licensee”).

 

Statement 

 

Licensors and Licensee are parties to a License Agreement dated June 27, 2000, as amended by a First Amendment Agreement effective July 26, 2002 and a Second Amendment Agreement effective April 15, 2005 (collectively “the License Agreement”), and now wish to make changes to the License Agreement.

 

NOW, THEREFORE, in consideration of the mutual covenants contained in the Licensee Agreement and in this Third Amendment Agreement and other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

 

1. Paragraph 6.01 of the License Agreement is hereby amended to include the following additional sentence:

 

Notwithstanding the [***] royalty on Net Sales set forth above, if Licensee later requests a different royalty rate for a Licensed Product for a [***] indication, Licensors agree to consider such request.

 

2. Paragraph 6.05 of the License Agreement is hereby amended to read as follows:

 

6.05 Licensee shall make the following milestone payments to Licensors:

 

	 	
			a.

				
			Except as specified below, upon the filing by Licensee (or an Affiliate) of each IND for a Licensed Product (or each indication for a Licensed Product), Licensee shall pay to Licensors [***], which payments are non-refundable and not creditable against any other payment due to Licensors pursuant to this Agreement. Upon the filing by Licensee (or an Affiliate) of each IND for a Licensed Product for a [***] indication, Licensee shall pay to Licensors only [***] pursuant to this Subparagraph for such filing, which payments are non-refundable and not creditable against any other payment due to Licensors pursuant to this Agreement. Upon the filing by Licensee (or an Affiliate) of an IND for a Licensed Product that is not, on its face, directly associated with any indication (i.e. a generic IND), Licensee shall owe [***] to Licensors pursuant to this Subparagraph for such filing.

			
	 	 	 
	 	 	[***] shall be due under this Subparagraph for a Licensed Product solely for a [***] indication.
	 	 	 
	 	
			b.

				
			Except as specified below, upon the initiation by Licensee (or an Affiliate) of Phase II clinical trials (i.e. the administration of a Licensed Product to a patient for the primary purpose of assessing clinical efficacy; and not Phase I clinical trials for the primary purpose of assessing safety or pharmacokinetics) for each Licensed Product (or each indication for a Licensed Product), Licensee shall pay to Licensors [***], which payments are non-refundable and not creditable against any other payment due to Licensors pursuant to this Agreement. Upon the initiation by Licensee (or an Affiliate) of Phase II clinical trials for each Licensed Product for a [***] indication, Licensee shall pay to Licensors only [***], pursuant to this Subparagraph for the initiation of such trials, which payments are non-refundable and not creditable against any other payment due to Licensors pursuant to this Agreement. No payment shall be due under this paragraph for any Phase II clinical trial initiated by a third party Investigator, even if the trial is supported by Licensee (an “Investigator Initiated Trial”). However, if the Investigator Initiated Trial enables Licensee (or an Affiliate) to initiate a Phase III clinical trial or if Licensee (or an Affiliate) proceeds to initiate a similar Phase II clinical trial, then the payment required by this paragraph shall become due and payable.

			
	 	 	 

 

1

 

 

	 	 	[***] shall be due under this Subparagraph for a Licensed Product solely for a [***] indication.
	 	 	 
	 	
			c.

				
			Except as specified below, upon the initiation by Licensee (or an Affiliate) of Phase III clinical trials for each Licensed Product (or each indication for a Licensed Product), Licensee shall pay to Licensors [***], which payments are non-refundable and not creditable against any other payment due to Licensors pursuant to this Agreement. Upon the initiation by Licensee (or an Affiliate) of Phase III clinical trials for each Licensed Product for a [***] Indication, Licensee shall pay to Licensors only [***], pursuant to this Subparagraph for the initiation of such trials, which payments are non-refundable and not creditable against any other payment due to Licensors pursuant to this Agreement.

			
	 	 	 
	 	 	[***] shall be due under this Subparagraph for a Licensed Product solely for a [***] indication.
	 	 	 
	 	
			d.

				
			Except as specified below, upon Licensee’s (or an Affiliate’s) first receipt of governmental approval (FDA or equivalent approval in a European country or Japan) to market each Licensed Product (or each Indication for a Licensed Product), Licensee shall pay to Licensors [***], which payments are non-refundable and not creditable against any other payment due to Licensors pursuant to this Agreement. Upon Licensee’s (or an Affiliate’s) first receipt of governmental approval (FDA or equivalent approval in a European country or Japan) to market each Licensed Product for a [***] indication, Licensee shall pay to Licensors only [***] pursuant to this Subparagraph for such FDA approval, which payments are non-refundable and not creditable against any other payment due to Licensors pursuant to this Agreement.

			
	 	 	 
	 	 	[***] shall be due under this Subparagraph for a Licensed Product solely for a [***] indication.
	 	 	 
	 	
			e.

				
			The first time the aggregate Net Sales of Licensed Products for a [***] indication in a consecutive twelve month period total [***], Licensee shall pay to Licensors [***], which payment is non-refundable and not creditable against any other payment due to Licensors pursuant to this Agreement.

			
	 	 	 
	 	
			f.

				
			The first time the aggregate Net Sales of Licensed Products in a consecutive (12) twelve month period total [***], Licensee shall pay to Licensors [***], which payment is non-refundable and not creditable against any other payment due to Licensors pursuant to this Agreement.

			
	 	 	 
	 	
			g.

				
			The first time the aggregate Net Sales of Licensed Products in a consecutive twelve (12) month period total [***], Licensee shall pay to Licensors [***], which payment is non-refundable and not creditable against any other payment due to Licensors pursuant to this Agreement.

			
	 	 	 
	 	
			h.

				
			The calculation of Net Sales pursuant to Subparagraphs (f) and (g) above shall exclude: (i) Net Sales of Licensed Products for a [***] indication; and (ii) Net Sales of Licensed Products solely for a [***] indication.

			

 

3. The applicable provisions of this Third Amendment Agreement shall be deemed to be incorporated into the License Agreement in full and to be an integral part thereof as though fully set forth therein. With the exception of the above amendments, all other provisions of the License Agreement shall remain in full force and effect.

 

2

 

 

IN WITNESS WHEREOF, the parties hereto have entered into and executed this Third Amendment Agreement on the date first above written.

 

	 	 	 	 	 	 	 	 	 	 	 
	
			ALBERT EINSTEIN COLLEGE

				 	 	 	
			BIOCRYST

				 	 
	
			OF MEDICINE OF YESHIVA

				 	 	 	
			PHARMACEUTICALS, INC.

				 	 
	
			UNIVERSITY

				 	 	 	 	 	 	 	 
	
			By:

				 	
			/s/ John L. Harb              

				 	 	 	
			By:

				 	
			/s/ Alane Barnes                     

				 	 
	 	 	
			Name: John L. Harb

				 	 	 	 	 	
			Name: Alane Barnes

				 	 
	 	 	
			Title: Assistant Dean

			Scientific Operations

				 	 	 	 	 	
			Title: General Counsel

				 	 
	 	 	 	 	 	 	 	 	 	 	 
	INDUSTRIAL RESEARCH LTD.	 	 	 	 	 	 	 	 
	 	 	By: /s/ Jeff Lycett           	 	 	 	 	 	 	 	 
	 	 	Name: Jeff Lycett	 	 	 	 	 	 	 	 
	 	 	Title: Board Secretary	 	 	 	 	 	 	 	 

 

 

 

3ex_230492.htm

Exhibit 10.35

 

CERTAIN INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT IN PLACES MARKED “[***]” BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED.

 

FIFTH AMENDMENT AGREEMENT 

 

This Amendment Agreement is made effective November 17, 2011 by and among Albert Einstein College of Medicine of Yeshiva University, a Division of Yeshiva University, a corporation organized and existing under the laws of the State of New York, having an office and place of business at 1300 Morris Park Avenue, Bronx, New York 10461 (“AECOM”), Industrial Research Ltd., a company organized and existing under the laws of New Zealand, having an office and place of business at Gracefield Research Centre, Gracefield Road, P.O. Box 31-310, Lower Hutt, New Zealand (“Industrial”) (AECOM and Industrial are collectively referred to herein as “Licensors”), and BioCryst Pharmaceuticals, Inc., a corporation organized and existing under the laws of the State of Delaware having an office and place of business at 2190 Parkway Lake Drive, Birmingham, Alabama 35244 (“Licensee”).

 

Statement 

 

Licensors and Licensee are parties to a License Agreement dated June 27, 2000, as amended by a First Amendment Agreement effective July 26, 2002, a Second Amendment Agreement effective April 15, 2005, a Third Amendment Agreement effective December 11, 2009 and a Fourth Amendment Agreement effective May 5, 2010 (collectively “the License Agreement”), and now wish to further amend the License Agreement.

 

NOW, THEREFORE, in consideration of the mutual covenants contained in the License Agreement and in this Fifth Amendment Agreement and other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

 

	 	
			1.

				
			Paragraph 6.02 of the License Agreement is hereby amended to read in its entirety as follows:

			

 

6.02  (a) Licensee shall pay to Licensors [***] percent ([***]%) of Net Proceeds.

 

(b) Licensee shall pay to Licensors [***] percent ([***] %) of Sublicensee Royalties.

 

(c) Any payments due to be paid by Licensee to Licensors under paragraph 6.02(a) may be made either in cash or, at the sole option of Licensee, in Qualified Licensee Shares or a combination of cash and Qualified Licensee Shares. Any such Qualified Licensee Shares shall be subject to the terms of Sections 6 and 8 hereof. Any Qualified Licensee Shares issued under paragraph 6.02(a) shall be valued based on the Volume Weighted Average Price of such shares determined as of the date payment is due under paragraph 7.02 of the License Agreement. Notwithstanding the foregoing, unless otherwise agreed to by the parties, Licensee shall not be permitted to issue Qualified Licensee Shares (i) to the extent that the number of Qualified Licensee Shares to be issued would exceed six (6) times the average daily trading volume of Licensee’s common stock for the twenty (20) consecutive trading days ending on the trading day immediately before the date such Qualified Licensee Shares are to be issued or (ii) if Licensee does not meet the eligibility requirements for continued listing on the applicable Trading Market (as defined below).

 

	 	
			2.

				
			The applicable provisions of this Fifth Amendment Agreement shall be deemed to be incorporated into the License Agreement in full and to be an integral part thereof as though fully set forth therein. With the exception of the above amendments, all other provisions of the License Agreement shall remain in full force and effect.

			

 

IN WITNESS WHEREOF, the parties hereto have entered into and executed this Fifth Amendment Agreement as of the date first above written.

 

 

 

 

	 	 	 	 	 	 	 	 	 
	
			ALBERT EINSTEIN COLLEGE OF MEDICINE OF

			YESHIVA UNIVERSITY

				 	 	 	
			BIOCRYST PHARMACEUTICALS, INC.

			
	 	 	 	 	 
	
			By:

				 	
			/s/ John L. Harb                                 

				 	 	 	
			By:

				 	
			/s/ Alane Barnes                           

			
	
			Name:

				 	
			John L. Harb

				 	 	 	
			Name:

				 	
			Alane Barnes

			
	
			Title:

				 	
			Assistant Dean Scientific Operations

				 	 	 	
			Title:

				 	
			VP, General Counsel

			
	 	 	 	 
	
			INDUSTRIAL RESEARCH, LTD.

				 	 	 	 	 	 
	 	 	 	 	 
	
			By:

				 	
			/s/ Shaun Coffey                               

				 	 	 	 	 	 
	
			Name:

				 	
			Shaun Coffey

				 	 	 	 	 	 
	
			Title:

				 	
			Chief Executive

				 	 	 	 	 	 

 

-2-

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