Document:

February 1, 2007

Saggi Capital Corp.
Attention: Sharon Will

Dear Sharon:

         We are pleased to set forth the terms of the retention of Saggi Capital
Corp. (the "CONSULTANT") by Synovics Pharmaceuticals, Inc. (the "COMPANY").

         1. The  Company  hereby  retains  the  Consultant  to  render  investor
relations  services for the Company and such other business advisory services as
the chief executive  officer or the Board of Directors of the Company may direct
(the "CONSULTING RELATIONSHIP").

         2. In connection with the Consulting Relationship,  the Consultant will
be required to  familiarize  itself with the business,  operations,  properties,
financial condition, and prospects of the Company.

         3. In  consideration  of the Consulting  Relationship,  the Consultants
shall be entitled to receive the following:

                  (i) $5,000 per month, payable in arrears on the last day of
each calendar month; and

                  (ii)  warrants  to  acquire  200,000  shares of the  Company's
common stock,  par value $0.001 per share,  such warrants to be substantially in
the form attached  hereto as EXHIBIT A. In this regard,  the  Consultant  hereby
represents  that it is an  accredited  investor  as such term is defined in Rule
501(a)  of  Regulation  D of  the  Securities  Act  of  1933,  as  amended  (the
"Securities  Act") and the  Consultant  acknowledges  that such warrants and the
shares  underlying the warrants are "restricted  securities" (as defined in Rule
144(a)(3)  promulgated  under the Securities Act) and must be held  indefinitely
unless  subsequently  registered under the Securities Act or unless an exemption
from such registration is available.

         4. In addition to the fees  described  in Section 3 above,  the Company
agrees to promptly  reimburse the Consultant for out of pocket expenses incurred
in  connection  with the  Consulting  Relationship  when  incurred  or  promptly
thereafter,  provided  that such  expenses  have been approved in advance by the
Company and Consultant renders to Company appropriate supporting documentation.

         5. The Consulting  Relationship  shall be for a period of twelve months
from  the  date  of  this  letter  agreement.  This  letter  agreement  will  be
automatically extended for additional one-year periods unless the Company or the
Consultant  elect to terminate by serving  written  notice to the other party at
least thirty (30) days prior to the commencement of any additional term.  Either
party hereto may  terminate  this Letter  agreement at any time upon thirty (30)
days prior written notice, without liability or continuing obligation except for
any earned but unpaid fees payable pursuant to Section 3(a)(i) above.

<PAGE>

         6. The Consultant agrees that all non-public  information pertaining to
the  Company  constitutes  valuable  and  confidential  assets  of the  Company.
Consultant  shall  hold all such  information  in trust and  confidence  for the
Company and shall not use or disclose  any such  information  for other than the
Company's  business and shall be liable for damages incurred by the Company as a
result of the use or disclosure of such  information by Consultant or his agents
or shareholders  for any purpose other than the Company's  business,  except (i)
where such information is publicly available or later becomes publicly available
other  than  through a breach  of this  Letter  agreement,  or (ii)  where  such
information is subsequently  lawfully  obtained by Consultant from a third party
or parties,  or (iii) if such  information  is known to Consultant  prior to the
execution  of this letter  agreement,  or (iv) as may be  required  by law.  The
Consultant further acknowledges that the terms of this letter agreement shall be
in perpetuity  and that any threatened or actual breach by the Consultant of the
representations,  warranties  and  covenants  contained  herein  would result in
continuing and irreparable damage to the Company that monetary damages would not
adequately  compensate  either  corporation for any such breach. In the event of
any actual or  threatened  breach,  the Company shall be entitled to any and all
legal and/or equitable remedies,  including preliminary and permanent injunctive
relief,  and may, in addition  to any or all forms of relief,  recover  from the
Consultant  all costs  and  attorney's  fees  should  it  prevail  in a court of
competent jurisdiction in enforcing its rights under this letter agreement.

         7. The  Consultant  is an  independent  contractor  with respect to the
Consulting  Relationship  and is not an  employee or agent of the  Company,  and
neither  the  Company  nor the  Consultant  shall be  liable  for or  bound  by,
contractually  or otherwise,  any  representation,  act or omission of the other
party in connection with the Consulting Relationship.  The Consultant agrees not
to take any action which leads, or could reasonably be expected to lead, a third
party to  believe  that the  Consultant  has the power or  authority  to bind or
otherwise  obligate  the Company in  connection  with the  services  rendered by
Consultant,  except with the prior written consent of the Company,  which may be
withheld in its sole discretion.

         8. This letter  agreement (and any exhibits  hereto) contain the entire
agreement  and  understanding  between  the  parties  and  supersedes  all prior
negotiations  agreements,  and discussions concerning the subject matter hereof.
This letter  agreement may not be amended or modified except by a writing signed
by each of the respective  parties hereof. No breach or violation of this letter
agreement  shall be waived  except in a writing  executed by the party  granting
such waiver.  This letter agreement shall not be assigned by Consultant  without
the prior written consent of Company.  The validity and  interpretation  of this
letter  agreement  shall  be  governed  by  the  law of the  State  of New  York
applicable to agreements made and to be fully performed therein,  without giving
effect to its principles of conflicts of laws.  Any dispute  arising out of this
letter agreement shall be resolved exclusively by the competent Federal or State
courts  sitting in the State and County of New York. The benefits of this letter
agreement  shall inure to the  respective  successors and assigns of the parties
hereto and the obligations and liabilities  assumed in this letter  agreement by
the  parties  hereto  shall be binding  upon  their  respective  successors  and
assigns.  For the convenience of the parties hereto,  any number of counterparts
(facsimile  or  otherwise)  of this  letter  agreement  may be  executed  by the
parties,  each of which  shall  be,  and  shall be  deemed  to be,  an  original
instrument,  but all such  counterparts  taken  together shall  constitute  this
letter agreement.

<PAGE>

         If the foregoing  correctly sets forth our  agreement,  please sign the
enclosed copy of this letter in the space provided and return it to us.

                                     Very truly yours,

                                     Synovics Pharmaceuticals, Inc.

                                           /s/ RONALD H. LANE
                                     --------------------------------
                                     Name: Ronald H. Lane, PhD

Confirmed and Agreed to:

Saggi Capital Corp

By:      /s/ SHARON WILL
   ----------------------------
   Name:  Sharon Will
   Title: Authorized Person
<PAGE>

                                                                       EXHIBIT A

NEITHER THE SECURITIES  REPRESENTED HEREBY NOR THE SECURITIES  ISSUABLE UPON THE
EXERCISE  HEREOF  HAVE BEEN  REGISTERED  UNDER THE  SECURITIES  ACT OF 1933,  AS
AMENDED (THE  "SECURITIES  ACT"),  OR ANY STATE  SECURITIES  LAWS AND MAY NOT BE
OFFERED,  SOLD,  PLEDGED,  ASSIGNED,  OR  OTHERWISE  TRANSFERRED  UNLESS  (1)  A
REGISTRATION  STATEMENT WITH RESPECT  THERETO IS EFFECTIVE  UNDER THE SECURITIES
ACT AND ANY APPLICABLE  STATE  SECURITIES  LAWS, OR (2) THE COMPANY  RECEIVES AN
OPINION  OF COUNSEL TO THE  HOLDER OF THIS  WARRANT  OR SUCH  SECURITIES,  WHICH
COUNSEL  AND OPINION  ARE  REASONABLY  SATISFACTORY  TO THE  COMPANY,  THAT THIS
WARRANT OR SUCH  SECURITIES,  AS  APPLICABLE,  MAY BE  OFFERED,  SOLD,  PLEDGED,
ASSIGNED,  OR  OTHERWISE  TRANSFERRED  IN THE  MANNER  CONTEMPLATED  WITHOUT  AN
EFFECTIVE  REGISTRATION  STATEMENT UNDER THE SECURITIES ACT OR APPLICABLE  STATE
SECURITIES LAWS.

         THE TRANSFER OF THIS WARRANT IS RESTRICTED AS DESCRIBED HEREIN.

                          SYNOVICS PHARMACEUTICALS INC.

                          WARRANTS FOR THE PURCHASE OF
               SHARES OF COMMON STOCK, PAR VALUE $0.001 PER SHARE

NO.

         THIS CERTIFIES that, for consideration,  the receipt and sufficiency of
which is hereby  acknowledged  and other value  received [ ] (the  "HOLDER")  is
entitled to subscribe for, and purchase from,  SYNOVICS  PHARMACEUTICALS  INC. a
Nevada  corporation  (the  "COMPANY"),  upon the terms and  conditions set forth
herein,  at any time or from  time to time on or after  February  1,  2007  (the
"EFFECTIVE  TIME")  until  5:00  P.M.  New York  City  local  time on the  fifth
anniversary of the Effective Time (the "EXERCISE  PERIOD"),  an aggregate of Two
Hundred  Thousand  (200,000)  shares of common stock, par value $0.001 per share
(the "COMMON  STOCK") of the Company.  This Warrant is initially  exercisable at
$2.00 per  share;  provided,  however,  that upon the  occurrence  of any of the
events  specified  in  Section 8 hereof,  the rights  granted  by this  Warrant,
including  the  exercise  price and the  number of shares of Common  Stock to be
received upon such exercise,  shall be adjusted as therein  specified.  The term
"EXERCISE  PRICE" shall mean,  depending on the  context,  the initial  exercise
price (as set forth above) or the adjusted exercise price per share.

<PAGE>

         As used  herein,  the term "THIS  WARRANT"  shall mean and include this
Warrant and any Warrant or Warrants  hereafter  issued as a  consequence  of the
exercise or transfer of this  Warrant in whole or in part.  Each share of Common
Stock issuable upon the exercise  hereof shall be  hereinafter  referred to as a
"WARRANT SHARE".

                  1. (a) Subject to the terms of this Warrant,  this Warrant may
be exercised  at any time in whole and from time to time in part,  at the option
of the Holder,  on or after the Effective Time and on or prior to the end of the
Exercise Period.

         (b) This Warrant shall  initially be  exercisable  in whole or in part,
for such number of fully paid and nonassessable shares of Common Stock indicated
herein, for an exercise price per share equal to the Exercise Price, by delivery
to the  Company at its office at 2575 East  Camelback  Road Suite 450,  Phoenix,
Arizona  85016,  or at such  other  place as is  designated  in  writing  by the
Company, of:

                  (i) a completed Notice to Exercise (for Cash), in the form set
         forth in EXHIBIT I,  executed by the Holder  exercising  all or part of
         the purchase rights represented by this Warrant;

                  (ii) this Warrant;

                  (iii) if this  Warrant  is not  registered  in the name of the
         initial  registered  Holder,  an  assignment  in the form set  forth in
         EXHIBIT III hereto  evidencing  the  assignment  of this Warrant to the
         current Holder; and

                  (iv) payment of an amount equal to the product of the Exercise
         Price  multiplied  by the  number  of  shares  of  Common  Stock  being
         purchased  upon such  exercise in the form of, at the Holder's  option,
         (A) a certified or bank cashier's check payable to the Company,  or (B)
         a wire transfer of funds to an account designated by the Company.

         (c)  Additionally,  the Holder may exercise this Warrant by delivery to
the  Company at its  office at 2575 East  Camelback  Road  Suite  450,  Phoenix,
Arizona  85016,  or at such  other  place as is  designated  in  writing  by the
Company, of:

                  (i) a completed Notice to Exercise (Cashless), in the form set
         forth in EXHIBIT II,  executed by the Holder  exercising all or part of
         the exchange rights represented by this Warrant;

                  (ii) this Warrant; and

                  (iii) if this  Warrant  is not  registered  in the name of the
         initial  registered  Holder,  an  assignment  in the form set  forth in
         EXHIBIT III hereto  evidencing  the  assignment  of this Warrant to the
         current Holder;

         Such presentation and delivery (a "CASHLESS  EXERCISE") shall be deemed
a waiver of the Holder's obligation to pay the Exercise Price or, in the case of
a partial  exercise of this Warrant,

                                     - 2 -
<PAGE>

of the  portion  of the  Exercise  Price  that  would  otherwise  be  payable in
connection with such partial  exercise.  Upon such  presentation and delivery in
connection  with a Cashless  Exercise,  the number of Warrant  Shares subject to
this Warrant shall be reduced by the number of Warrant  Shares  specified on the
Notice to Exercise  (Cashless)  form,  and in exchange  for such  reduction  the
Holder shall receive the number of Warrant Shares, as the case may be, specified
on the Notice to  Exercise  (Cashless)  form (up to the total  number of Warrant
Shares  which  are  subject  to this  Warrant)  multiplied  by a  fraction,  the
numerator of which shall be the excess of the then Fair Market Value per Warrant
Share over the Exercise  Price,  and the  denominator of which shall be the then
Fair Market Value per Warrant Share.

         (d) As used herein "FAIR MARKET VALUE" of a security shall mean, on any
given day,  the average of the closing  prices of such  security's  sales on all
securities  exchanges  on which such  security may at the time be listed on such
day,  or,  if there  has been no sales on any such  exchange  on such  day,  the
average of the highest bid and lowest asked prices on all such  exchanges at the
end of such day, or, if on such day such security is not so listed,  the average
of the  representative  bid and  asked  prices  quoted  on the  over-the-counter
bulletin  board (the "OTCBB") as of 4:00 P.M., New York time, or, if on such day
such  security  is not quoted on the OTCBB,  the  average of the highest bid and
lowest  asked  prices  on such day in the  domestic  over-the-counter  market as
reported by the PinkSheet, LLC, or any similar successor organization. If at any
time such  security  is not listed on any  securities  exchange or quoted on the
OTCBB or the  over-the-counter  market,  the  "Fair  Market  Value"  shall be as
determined by the Board of Directors in good faith, absent manifest error.

         (e) Upon the  exercise of this  Warrant,  the  Company  shall issue and
cause  promptly to be delivered upon such exercise to, or upon the written order
of,  the  Holder  and in such  name or  names as the  Holder  may  designate,  a
certificate or certificates  for the number of full Warrant Shares to which such
Holder  shall be  entitled,  together  with  cash in lieu of any  fraction  of a
Warrant  Share  otherwise  issuable upon such exercise in an amount equal to the
product of (i) such  fraction  multiplied  by (ii) the Fair Market  Value on the
date of exercise.  Such certificate or certificates shall be deemed to have been
issued,  and any person so  designated  to be the person or persons  entitled to
receive the Warrant  Shares  issuable  upon  exercise of this  Warrant  shall be
deemed  to have  become  a holder  of  record  of such  Warrant  Shares  for all
purposes,  as of the  close of  business  on the date of the  surrender  of this
Warrant and full payment of the Exercise Price.

         (f) If this  Warrant  is  exercised  in respect of less than all of the
Warrant  Shares  evidenced  by this  Warrant at any time prior to the end of the
Exercise Period, a new Warrant  evidencing the remaining Warrant Shares shall be
issued to the Holder, or its nominee(s), without charge therefor.

         2. Upon each  exercise  of the  Holder's  rights  to  purchase  Warrant
Shares,  the Holder  shall be deemed to be the  holder of record of the  Warrant
Shares,  notwithstanding  that the transfer  books of the Company  shall then be
closed or  certificates  representing  the Warrant  Shares with respect to which
this Warrant was exercised  shall not then have been  actually  delivered to the
Holder.  As soon as  practicable  after each such exercise of this Warrant,  the
Company  shall issue and  deliver to the Holder a  certificate  or  certificates
representing  the

                                     - 3 -
<PAGE>

Warrant Shares issuable upon such exercise, registered in the name of the Holder
or its designee.  If this Warrant  should be exercised in part only, the Company
shall,  upon surrender of this Warrant for  cancellation,  execute and deliver a
Warrant  evidencing  the right of the  Holder to  purchase  the  balance  of the
aggregate  number of  Warrant  Shares  purchasable  hereunder  as to which  this
Warrant has not been exercised or assigned.

         3. Any  Warrants  issued upon the  transfer or exercise in part of this
Warrant  shall be numbered and shall be  registered  in a warrant  register (the
"WARRANT  REGISTER") as they are issued.  The Company shall be entitled to treat
the  registered  holder of any Warrant on the  Warrant  Register as the owner in
fact thereof for all purposes, and shall not be bound to recognize any equitable
or other claim to, or interest in, such Warrant on the part of any other person,
and shall not be liable for any  registration  of transfer of Warrants which are
registered  or to be  registered  in the name of a fiduciary or the nominee of a
fiduciary  unless made with the actual  knowledge that a fiduciary or nominee is
committing a breach of trust in requesting  such  registration  or transfer,  or
with the knowledge of such facts that its  participation  therein amounts to bad
faith.  This Warrant shall be transferable on the books of the Company only upon
delivery thereof duly endorsed by the Holder or by his duly authorized  attorney
or representative, or accompanied by proper evidence of succession,  assignment,
or  authority to  transfer.  In all cases of transfer by an attorney,  executor,
administrator,  guardian,  or other  legal  representative,  duly  authenticated
evidence of his, her, or its authority shall be produced.  Upon any registration
of transfer,  the Company  shall deliver a new Warrant or Warrants to the person
entitled  thereto.  This Warrant may be  exchanged,  at the option of the Holder
thereof, for another Warrant, or other Warrants of different  denominations,  of
like tenor and representing in the aggregate the right to purchase a like number
of Warrant  Shares (or portions  thereof),  upon surrender to the Company or its
duly authorized agent.  Notwithstanding the foregoing, the Company shall have no
obligation to cause Warrants to be transferred on its books to any person if, in
the opinion of counsel to the Company,  such  transfer  does not comply with the
provisions of the Securities Act of 1933, as amended (the "SECURITIES ACT"), and
the rules and regulations thereunder.

            4. The Company  shall pay all  federal  and state taxes  (other than
taxes on income of the Holder),  documentary  taxes,  stamp  taxes,  if any, and
other governmental  charges that may be imposed upon the issuance or delivery of
this  Warrant  or upon the  issuance  or  delivery  of Warrant  Shares  upon the
exercise of this  Warrant,  PROVIDED,  HOWEVER,  that the  Company  shall not be
required to pay any taxes  payable in connection  with any transfer  involved in
the issuance or delivery of any Warrants or Warrant  Shares in a name other than
that of the  Holder in  respect of which such  Warrant  Shares are  issued.  The
Company may refuse to deliver the  certificates  representing the Warrant Shares
being issued in a name other than the Holder's name until the Company receives a
sum  sufficient  to pay any tax that will be due  because  such shares are to be
issued in a name other than the Holder's name.

            5. (a) The Company shall at all times reserve and keep available out
of its authorized and unissued Common Stock, solely for the purpose of providing
for the  exercise  of the  Warrants,  such  number of shares of Common  Stock as
shall, from time to time, be sufficient therefor. The Company covenants that all
Warrant  Shares  which may be issued upon the  exercise of the  purchase  rights
represented  by  this  Warrant  will,  upon  exercise  of  the  purchase

                                     - 4 -
<PAGE>

rights represented by this Warrant,  be duly authorized,  validly issued,  fully
paid and nonassessable and free from all taxes,  liens and charges in respect of
the issue  thereof  (other  than  taxes in  respect  of any  transfer  occurring
contemporaneously  with such issue), without any personal liability attaching to
the ownership  thereof and will not be issued in violation of any  preemptive or
similar rights of stockholders.  The Company further covenants that its issuance
of this Warrant shall  constitute full authority to its officers who are charged
with the duty of executing stock certificates to execute and issue the necessary
certificates  for the Warrant  Shares upon the exercise of the  purchase  rights
under this Warrant.  The Company will take all such reasonable  action as may be
necessary  to assure that such Warrant  Shares may be issued as provided  herein
without violation of any applicable law or regulation, or of any requirements of
the trading market upon which the Common Stock may be listed.

         (b) The  transfer  agent for the  Common  Stock  and  every  subsequent
transfer agent for any of the Company's securities issuable upon the exercise of
this  Warrant  shall be  irrevocably  authorized  and  directed  at all times to
reserve  such number of  authorized  securities  as shall be  required  for such
purpose. The Company shall keep a copy of this Warrant on file with the transfer
agent for the Common Stock and with every  subsequent  transfer agent for shares
of the Company's  securities  issuable  upon the exercise of this  Warrant.  The
Company  shall  supply  such  transfer  agent  with duly  executed  certificates
representing the Common Stock or other securities for such purposes.

         (c) The Company shall not by any action including,  without limitation,
amending  its  certificate  of  incorporation  or  through  any  reorganization,
transfer  of  assets,  consolidation,  merger,  dissolution,  issue  or  sale of
securities or any other voluntary action,  avoid or seek to avoid the observance
or  performance  of any of the terms of this  Warrant;  but will at all times in
good faith assist in the carrying out of all such terms and in the taking of all
such  actions as may be necessary  or  appropriate  to protect the rights of the
Holder against impairment. Without limiting the generality of the foregoing, the
Company  will (a) not  increase  the par value of any  shares  of  Common  Stock
receivable  upon the exercise of this Warrant above the amount payable  therefor
upon such exercise immediately prior to such increase in par value, and (b) take
all such action as may be necessary or appropriate in order that the Company may
validly and legally  issue fully paid and  nonassessable  shares of Common Stock
upon the exercise of this Warrant.

         6. The Company will (i) obtain and keep  effective any and all permits,
consents and approvals of Federal or state governmental agencies and authorities
and make all filings under Federal and state  securities laws, that are required
in connection  with the issuance and delivery of this  Warrant,  the exercise of
this  Warrant,  and the issuance and delivery of the Warrant  Shares issued upon
exercise of this Warrant, and (ii) have the Warrant Shares, upon their issuance,
listed  on each  securities  exchange  on which the  Common  Stock (or any other
securities included in Warrant Shares) are then listed.

         7. If the Company  purchases or otherwise  acquires this  Warrant,  the
Company shall cancel this  Warrant,  and any Warrant  surrendered  for exchange,
substitution, transfer or exercise in whole or in part.

                                     - 5 -
<PAGE>

         8. The Exercise Price for the Warrants in effect from time to time, and
the number of Warrant  Shares  issuable upon exercise of the Warrants,  shall be
subject to adjustment as follows:

         (a) If the Company, at any time while this Warrant is outstanding:  (A)
pays a stock  dividend or otherwise  make a  distribution  or  distributions  on
shares of its Common Stock or any other equity or equity  equivalent  securities
payable in shares of Common Stock  (which,  for  avoidance  of doubt,  shall not
include  any  shares of Common  Stock  issued by the  Company  pursuant  to this
Warrant), (B) subdivides outstanding shares of Common Stock into a larger number
of shares,  (C) combines  (including by way of reverse stock split)  outstanding
shares of  Common  Stock  into a smaller  number  of  shares,  or (D)  issues by
reclassification  of shares of the Common  Stock any shares of capital  stock of
the  Company,  then in each case the  Exercise  Price shall be  multiplied  by a
fraction of which the  numerator  shall be the number of shares of Common  Stock
(excluding  treasury shares, if any) outstanding  immediately  before such event
and of which the  denominator  shall be the  number  of  shares of Common  Stock
outstanding  immediately  after such event. Any adjustment made pursuant to this
Section 8(a) shall become  effective  immediately  after the record date for the
determination of stockholders  entitled to receive such dividend or distribution
and shall become effective immediately after the effective date in the case of a
subdivision, combination or re-classification.

         (b) When any  adjustment  is required to be made in the Exercise  Price
pursuant to subsection  8(a), the number of Warrant Shares  purchasable upon the
exercise of this Warrant  shall be changed to the number  determined by dividing
(i) an  amount  equal to  product  of the  number of  shares  issuable  upon the
exercise of this Warrant immediately prior to such adjustment  multiplied by the
Exercise  Price in  effect  immediately  prior to such  adjustment,  by (ii) the
Exercise Price in effect immediately after such adjustment.

         (c) Upon the  occurrence  of each  adjustment  or  readjustment  of the
Exercise Price pursuant to this Section 8, the Company at its expense shall,  as
promptly as reasonably  practicable but in any event not later than fifteen (15)
days thereafter,  compute such adjustment or readjustment in accordance with the
terms  hereof  and  furnish  to the  Holder a  certificate  setting  forth  such
adjustment or readjustment (including the kind and amount of securities, cash or
other  property for which this  Warrant  shall be  exercisable  and the Exercise
Price)  and  showing  in  detail  the  facts  upon  which  such   adjustment  or
readjustment is based. The Company shall, as promptly as reasonably  practicable
after the written  request at any time of the Holder (but in any event not later
than 15 days  thereafter),  furnish  or cause to be  furnished  to the  Holder a
certificate  setting  forth (i) the  Exercise  Price then in effect and (ii) the
number and class or series of Warrant  Shares and the  amount,  if any, of other
securities,  cash or property  which then would be received upon the exercise of
this Warrant.

         (d) All calculations  under this Section 8 shall be made to the nearest
cent or the nearest 1/100th of a share, as the case may be.

         (e) The Company shall not be required upon the exercise of this Warrant
to issue any fractional shares, but shall pay the value thereof to the Holder in
cash on the basis of the Fair Market  Value per  Warrant  Share,  as  determined
pursuant to subsection 1(d) above.

                                     - 6 -
<PAGE>

         9.  Unless  registered,  the Warrant  Shares  issued on exercise of the
Warrants  shall be  subject  to a stop  transfer  order and the  certificate  or
certificates representing the Warrant Shares shall bear the following legend:

         THE SECURITIES  REPRESENTED  HEREBY HAVE NOT BEEN REGISTERED  UNDER THE
         SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR ANY STATE
         SECURITIES LAWS AND MAY NOT BE OFFERED,  SOLD,  PLEDGED,  ASSIGNED,  OR
         OTHERWISE TRANSFERRED UNLESS (1) A REGISTRATION  STATEMENT WITH RESPECT
         THERETO IS EFFECTIVE UNDER THE SECURITIES ACT AND ANY APPLICABLE  STATE
         SECURITIES  LAWS, OR (2) THE COMPANY  RECEIVES AN OPINION OF COUNSEL TO
         THE HOLDER OF SUCH SECURITIES, WHICH COUNSEL AND OPINION ARE REASONABLY
         SATISFACTORY  TO THE COMPANY,  THAT  SECURITIES  MAY BE OFFERED,  SOLD,
         PLEDGED,  ASSIGNED, OR OTHERWISE TRANSFERRED IN THE MANNER CONTEMPLATED
         WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR
         APPLICABLE STATE SECURITIES LAWS.

         10. The Company  covenants that upon receipt by the Company of evidence
reasonably  satisfactory to it of the loss, theft,  destruction or mutilation of
this Warrant or any stock  certificate  relating to the Warrant  Shares,  and in
case of  loss,  theft  or  destruction,  of  indemnity  or  security  reasonably
satisfactory to it, and upon surrender and cancellation of such Warrant or stock
certificate,  if  mutilated,  the Company will make and deliver a new Warrant or
stock certificate of like date, tenor and denomination , in lieu of such Warrant
or stock certificate.

         11. (a) The Holder of any Warrant shall not have,  solely on account of
such status,  any rights of a  stockholder  of the Company,  either at law or in
equity, or to any notice of meetings of stockholders or of any other proceedings
of the Company, except as provided in this Warrant.

                  (b) No provision hereof, in the absence of affirmative  action
by  Holder  to  Warrant  Shares,  and no  enumeration  herein  of the  rights or
privileges of Holder hereof, shall give rise to any liability of such Holder for
the purchase price of any Common Stock or as a stockholder  of Company,  whether
such liability is asserted by Company or by creditors of Company.

         12. Promptly upon the  appointment of any subsequent  transfer agent of
the Common  Stock,  or any other  securities  issuable upon the exercise of this
Warrant,  the Company will deliver to the Holder a statement  setting  forth the
name and address of such subsequent transfer agent.

         13. All  notices and other  communications  provided  for or  permitted
hereunder  shall be in writing and shall be deemed given (i) when made,  if made
by hand delivery,  (ii) upon confirmation,  if made by telecopier,  or (iii) one
business day after being deposited with a reputable  next-day  courier,  postage
prepaid, to the parties as follows:

                                     - 7 -
<PAGE>

                         if to the Company:

                         2575 East Camelback Road
                         Suite 450
                         Phoenix, Arizona   85016
                         Attention: Ronald H. Lane Ph.D.
                         Telecopy: (602) 508-0115

                         if to the Holder:

                         As set forth in the Warrant Register of the Company.

                  The  Company  or the  Holder by notice to the other  party may
designate  additional or different addresses as shall be furnished in writing by
such party. Any notice or communication  mailed to the Holder shall be mailed by
first class mail or other equivalent means at such Holder's address and shall be
sufficiently given to such Holder if so mailed within the time prescribed.

         14. The Company and the Holder may from time to time supplement, modify
or amend this  Warrant,  except,  this  Warrant may not be amended,  modified or
supplemented,  and waivers or consents to departures from the provisions  hereof
may not be given, without the written consent of the Company and the Holder.

         15. All the  covenants  and  provisions  of this  Warrant by or for the
benefit of the  Company or the Holder  shall be binding  upon and shall inure to
the benefit of their respective permitted successors and assigns hereunder.

         16. The Company shall not merge or  consolidate  with or into any other
entity unless the entity resulting from such merger or consolidation (if not the
Company) shall expressly assume, by supplemental  agreement satisfactory in form
to the Holder and  executed and  delivered  to the Holder,  the due and punctual
performance  and  observance  of each and every  covenant and  condition of this
Warrant to be performed and observed by the Company.

         17. The validity,  interpretation and performance of this warrant shall
be governed by the laws of the State of New York,  as applied to contracts  made
and  performed  within the state of New York,  without  regard to  principles of
conflicts  of  law.  Each  of the  parties  hereto  irrevocably  submits  to the
exclusive  jurisdiction  of the  courts of the State of New York and the  United
States  District  Court for the  Southern  District  of New  York,  in each case
sitting in the Borough of  Manhattan,  City of New York,  for the purpose of any
suit,  action,  proceeding or judgment relating to or arising out of this letter
agreement.  Service  of  process in  connection  with any such  suit,  action or
proceeding may be served on each party hereto  anywhere in the world by the same
methods as are specified  for the giving of notices under this Warrant.  Each of
the parties hereto irrevocably consents to the jurisdiction of any such court in
any such suit,  action or  proceeding  and to the laying of venue in such court.
Each party hereto irrevocably waives any objection to the laying of venue of any
such suit,  action or proceeding  brought in such courts and irrevocably  waives
any claim that any such suit, action or proceeding brought in any such court has
been brought in an inconvenient forum.

                                     - 8 -
<PAGE>

         18. The provisions hereof have been and are made solely for the benefit
of the Company and the Holder, and their respective  successors and assigns, and
no other person shall acquire or have any right hereunder or by virtue hereof.

         19. The headings in this Warrant are for convenience only and shall not
limit or otherwise affect the meaning hereof.

         20. If any term, provision,  covenant or restriction of this Warrant is
held by a court  of  competent  jurisdiction  to be  invalid,  illegal,  void or
unenforceable,   the   remainder  of  the  terms,   provisions,   covenants  and
restrictions set forth herein shall remain in full force and effect and shall in
no way be affected,  impaired or  invalidated,  and the parties hereto shall use
their best efforts to find and employ an  alternative  means to achieve the same
or substantially the same result as that  contemplated by such term,  provision,
covenant  or  restriction.  It is  hereby  stipulated  and  declared  to be  the
intention of the parties  that they would have  executed  the  remaining  terms,
provisions,  covenants and restrictions  without including any of such which may
be hereafter declared invalid, illegal, void or unenforceable.

         21. This  Warrant is intended by the parties as a final  expression  of
their  agreement  and intended to be a complete and  exclusive  statement of the
agreement  and  understanding  of the  parties  hereto in respect of the subject
matter  contained  herein  and  therein.  There are no  restrictions,  promises,
warranties or undertakings, other than those set forth or referred to herein and
therein. This Warrant supersedes all prior agreements and understandings between
the parties with respect to such subject matter.

         22. In any action or  proceeding  brought to enforce any  provision  of
this Warrant,  or where any provision  hereof is validly  asserted as a defense,
the prevailing  party, as determined by the court,  shall be entitled to recover
reasonable attorneys' fees in addition to any other available remedy.

         23. Each party hereto  agrees to use all  reasonable  efforts to obtain
all  consents  and  approvals,  and to do all other  things,  necessary  for the
transactions contemplated by this Warrant on or prior to the end of the Exercise
Period. The parties agree to take such further action and to deliver or cause to
be delivered to each other after the date hereof such  additional  agreements or
instruments  as any of them may  reasonably  request for the purpose of carrying
out this Warrant and the agreements  and  transactions  contemplated  hereby and
thereby.

Dated: February 1, 2007

                                            SYNOVICS PHARMACEUTICALS, INC.

                                            BY:
                                               ---------------------------------
                                                 NAME:
                                                 TITLE:

[Seal]

----------------------
Secretary

                                     - 9 -
<PAGE>

EXHIBIT I

                          NOTICE TO EXERCISE (FOR CASH)

                  The undersigned hereby irrevocably elects to exercise Warrants
represented  by this Warrant and to purchase the shares of Common Stock or other
securities  issuable  upon the  exercise of said  Warrants,  and  requests  that
Certificates for such shares be issued and delivered as follows:

ISSUE TO:
                           -----------------------------------------------------
                           (Name)

                           -----------------------------------------------------
                           (Address, Including Zip Code)

                           -----------------------------------------------------
                           (Social Security or Tax Identification Number)

DELIVER TO:
                           -----------------------------------------------------
                           (Name)

                           -----------------------------------------------------
                           (Address, Including Zip Code)

                  In payment of the purchase  price with respect to this Warrant
exercised,  the undersigned hereby tenders payment of $ by (i) certified or bank
cashiers  check payable to the order of the Company |_|; or (ii) a wire transfer
of such funds to an account  designated  by the  Company  |_| (CHECK  APPLICABLE
BOX).  If the number of Warrant  Shares  hereby  exercised is fewer than all the
Warrant Shares represented by this Warrant,  the undersigned requests that a new
Warrant  representing  the number of full  Warrant  Shares not  exercised  to be
issued and delivered as set forth below:

Name of Holder or Assignee:
                            ---------------------------------------
                            (Please Print)

Address:
        -----------------------------------------------------------

        -----------------------------------------------------------

Signature:_______________________________________  DATED: _______________, 200__
(Signature must conform in all respects to name of holder as  specified  on  the
fact of this Warrant)

Signature Guaranteed:
                     ------------------------------------------------

<PAGE>
EXHIBIT II

                          NOTICE TO EXERCISE (CASHLESS)

                  The undersigned  Holder  ___________________,  pursuant to the
provisions of the Warrant, hereby elects to exchange its Warrant, in whole or in
part,  as  appropriate,  for ______  shares of Common Stock or other  securities
issuable  upon the  exercise of said  Warrants  of the  Company  pursuant to the
cashless  exercise  provisions  of Section 1(c) of the Warrant and requests that
Certificates for such shares be issued and delivered as follows:

ISSUE TO:
                           -----------------------------------------------------
                           (Name)

                           -----------------------------------------------------
                           (Address, Including Zip Code)

                           -----------------------------------------------------
                           (Social Security or Tax Identification Number)

DELIVER TO:
                           -----------------------------------------------------
                           (Name)

                           -----------------------------------------------------
                           (Address, Including Zip Code)

                  If the number of Warrant Shares hereby exchanged is fewer than
all the Warrant Shares  represented by this Warrant,  the  undersigned  requests
that a new Warrant  representing the number of full Warrant Shares not exchanged
to be issued and delivered as set forth below:

Name of Holder or Assignee:
                            ---------------------------------------
                            (Please Print)

Address:
        -----------------------------------------------------------

        -----------------------------------------------------------

Signature:_______________________________________  DATED: _______________, 200__
(Signature must conform in all respects to name of holder as specified on the
fact of this Warrant)

Signature Guaranteed:
                     ------------------------------------------------

<PAGE>

EXHIBIT III

                                   ASSIGNMENT

                  FOR VALUE RECEIVED,  the undersigned hereby sells, assigns and
transfers  unto the  Assignee  named below all of the rights of the  undersigned
represented by the within Warrant,  with respect to the number of Warrant Shares
set forth below:

                                                                    Taxpayer
                                               Number of         Identification
Name of Assignee         Address            Warrant Shares           Number
----------------         -------            --------------           ------

and  does  hereby  irrevocably   constitute  and  appoint   ___________________,
Attorney,  to make such  transfer  on the  Warrant  Register  maintained  at the
principal office of the Company with full power of substitution in the premises.

Dated:  _______________________________200__          __________________________
         Signature
(Signature  must  conform in all  respects to name of holder as specified on the
face of this Warrant).

Signature Guaranteed:

--------------------------------------------------------------------------------February 1, 2007

Bridge Ventures, Inc.
Attention: Harris Freedman

Dear Harris:

         We are  pleased  to set  forth  the  terms of the  retention  of Bridge
Ventures,  Inc.  (the  "CONSULTANT")  by  Synovics  Pharmaceuticals,  Inc.  (the
"COMPANY").

         1. The  Company  hereby  retains  the  Consultant  to render  strategic
consulting  services  and  assistance  to the  Company  and such other  business
advisory  services as the chief  executive  officer or the Board of Directors of
the Company may direct (the "CONSULTING RELATIONSHIP"). The strategic consulting
services  and  assistance  shall  include,  but not be limited to, (i)  advisory
services  regarding market  opportunities;  (ii) prioritizing of development and
marketing  goals; and (iii)  introduction of the Company to strategic  partners,
customers and investors.

         2. In connection with the Consulting Relationship,  the Consultant will
be required to  familiarize  itself with the business,  operations,  properties,
financial condition, and prospects of the Company.

         3. In  consideration  of the Consulting  Relationship,  the Consultants
shall be entitled to receive the following:

                  (i) $5,000 per month, payable in arrears on the last day of
each calendar month; and

                  (ii)  warrants  to  acquire  200,000  shares of the  Company's
common stock,  par value $0.001 per share,  such warrants to be substantially in
the form attached  hereto as EXHIBIT A. In this regard,  the  Consultant  hereby
represents  that it is an  accredited  investor  as such term is defined in Rule
501(a)  of  Regulation  D of  the  Securities  Act  of  1933,  as  amended  (the
"Securities  Act") and the  Consultant  acknowledges  that such warrants and the
shares  underlying the warrants are "restricted  securities" (as defined in Rule
144(a)(3)  promulgated  under the Securities Act) and must be held  indefinitely
unless  subsequently  registered under the Securities Act or unless an exemption
from such registration is available.

         4. In addition to the fees  described  in Section 3 above,  the Company
agrees to promptly  reimburse the Consultant for out of pocket expenses incurred
in  connection  with the  Consulting  Relationship  when  incurred  or  promptly
thereafter,  provided  that such  expenses  have been approved in advance by the
Company and Consultant renders to Company appropriate supporting documentation.

         5. The Consulting  Relationship  shall be for a period of twelve months
from  the  date  of  this  letter  agreement.  This  letter  agreement  will  be
automatically extended for additional one-year periods unless the Company or the
Consultant  elect to terminate by serving  written  notice to the other party at
least thirty (30) days prior to the commencement of any additional term.  Either
party hereto may  terminate  this Letter  agreement at any time upon thirty (30)
days prior written

<PAGE>

notice,  without  liability or continuing  obligation  except for any earned but
unpaid fees payable pursuant to Section 3(a)(i) above.

         6. The Consultant agrees that all non-public  information pertaining to
the  Company  constitutes  valuable  and  confidential  assets  of the  Company.
Consultant  shall  hold all such  information  in trust and  confidence  for the
Company and shall not use or disclose  any such  information  for other than the
Company's  business and shall be liable for damages incurred by the Company as a
result of the use or disclosure of such  information by Consultant or his agents
or shareholders  for any purpose other than the Company's  business,  except (i)
where such information is publicly available or later becomes publicly available
other  than  through a breach  of this  Letter  agreement,  or (ii)  where  such
information is subsequently  lawfully  obtained by Consultant from a third party
or parties,  or (iii) if such  information  is known to Consultant  prior to the
execution  of this letter  agreement,  or (iv) as may be  required  by law.  The
Consultant further acknowledges that the terms of this letter agreement shall be
in perpetuity  and that any threatened or actual breach by the Consultant of the
representations,  warranties  and  covenants  contained  herein  would result in
continuing and irreparable damage to the Company that monetary damages would not
adequately  compensate  either  corporation for any such breach. In the event of
any actual or  threatened  breach,  the Company shall be entitled to any and all
legal and/or equitable remedies,  including preliminary and permanent injunctive
relief,  and may, in addition  to any or all forms of relief,  recover  from the
Consultant  all costs  and  attorney's  fees  should  it  prevail  in a court of
competent jurisdiction in enforcing its rights under this letter agreement.

         7. The  Consultant  is an  independent  contractor  with respect to the
Consulting  Relationship  and is not an  employee or agent of the  Company,  and
neither  the  Company  nor the  Consultant  shall be  liable  for or  bound  by,
contractually  or otherwise,  any  representation,  act or omission of the other
party in connection with the Consulting Relationship.  The Consultant agrees not
to take any action which leads, or could reasonably be expected to lead, a third
party to  believe  that the  Consultant  has the power or  authority  to bind or
otherwise  obligate  the Company in  connection  with the  services  rendered by
Consultant,  except with the prior written consent of the Company,  which may be
withheld in its sole discretion.

         8. This letter agreement (and any exhibits hereto) contain the entire
agreement and understanding between the parties and supersedes all prior
negotiations agreements, and discussions concerning the subject matter hereof.
This letter agreement may not be amended or modified except by a writing signed
by each of the respective parties hereof. No breach or violation of this letter
agreement shall be waived except in a writing executed by the party granting
such waiver. This letter agreement shall not be assigned by Consultant without
the prior written consent of Company. The validity and interpretation of this
letter agreement shall be governed by the law of the State of New York
applicable to agreements made and to be fully performed therein, without giving
effect to its principles of conflicts of laws. Any dispute arising out of this
letter agreement shall be resolved exclusively by the competent Federal or State
courts sitting in the State and County of New York. The benefits of this letter
agreement shall inure to the respective successors and assigns of the parties
hereto and the obligations and liabilities assumed in this letter agreement by
the parties hereto shall be binding upon their respective successors and
assigns. For the convenience of the parties hereto, any number of counterparts
(facsimile or otherwise) of this letter agreement may be executed by the
parties, each of which shall be, and shall be deemed to be, an original
instrument, but all such counterparts taken together shall constitute this
letter agreement.

<PAGE>

         If the foregoing  correctly sets forth our  agreement,  please sign the
enclosed copy of this letter in the space provided and return it to us.

                                      Very truly yours,

                                      Synovics Pharmaceuticals, Inc.

                                             /s/ RONALD H. LANE
                                      -----------------------------------
                                      Name: Ronald H. Lane, PhD

Confirmed and Agreed to:

Bridge Ventures, Inc.

By:    /s/ HARRIS FREEDMAN
   ----------------------------
    Name: Harris Freedman
    Title: Authorized Person
<PAGE>

                                                                       EXHIBIT A

NEITHER THE SECURITIES  REPRESENTED HEREBY NOR THE SECURITIES  ISSUABLE UPON THE
EXERCISE  HEREOF  HAVE BEEN  REGISTERED  UNDER THE  SECURITIES  ACT OF 1933,  AS
AMENDED (THE  "SECURITIES  ACT"),  OR ANY STATE  SECURITIES  LAWS AND MAY NOT BE
OFFERED,  SOLD,  PLEDGED,  ASSIGNED,  OR  OTHERWISE  TRANSFERRED  UNLESS  (1)  A
REGISTRATION  STATEMENT WITH RESPECT  THERETO IS EFFECTIVE  UNDER THE SECURITIES
ACT AND ANY APPLICABLE  STATE  SECURITIES  LAWS, OR (2) THE COMPANY  RECEIVES AN
OPINION  OF COUNSEL TO THE  HOLDER OF THIS  WARRANT  OR SUCH  SECURITIES,  WHICH
COUNSEL  AND OPINION  ARE  REASONABLY  SATISFACTORY  TO THE  COMPANY,  THAT THIS
WARRANT OR SUCH  SECURITIES,  AS  APPLICABLE,  MAY BE  OFFERED,  SOLD,  PLEDGED,
ASSIGNED,  OR  OTHERWISE  TRANSFERRED  IN THE  MANNER  CONTEMPLATED  WITHOUT  AN
EFFECTIVE  REGISTRATION  STATEMENT UNDER THE SECURITIES ACT OR APPLICABLE  STATE
SECURITIES LAWS.

         THE TRANSFER OF THIS WARRANT IS RESTRICTED AS DESCRIBED HEREIN.

                          SYNOVICS PHARMACEUTICALS INC.

                          WARRANTS FOR THE PURCHASE OF
               SHARES OF COMMON STOCK, PAR VALUE $0.001 PER SHARE

NO.

         THIS CERTIFIES that, for consideration,  the receipt and sufficiency of
which is hereby  acknowledged  and other value  received [ ] (the  "HOLDER")  is
entitled to subscribe for, and purchase from,  SYNOVICS  PHARMACEUTICALS  INC. a
Nevada  corporation  (the  "COMPANY"),  upon the terms and  conditions set forth
herein,  at any time or from  time to time on or after  February  1,  2007  (the
"EFFECTIVE  TIME")  until  5:00  P.M.  New York  City  local  time on the  fifth
anniversary of the Effective Time (the "EXERCISE  PERIOD"),  an aggregate of Two
Hundred  Thousand  (200,000)  shares of common stock, par value $0.001 per share
(the "COMMON  STOCK") of the Company.  This Warrant is initially  exercisable at
$2.00 per  share;  provided,  however,  that upon the  occurrence  of any of the
events  specified  in  Section 8 hereof,  the rights  granted  by this  Warrant,
including  the  exercise  price and the  number of shares of Common  Stock to be
received upon such exercise,  shall be adjusted as therein  specified.  The term
"EXERCISE  PRICE" shall mean,  depending on the  context,  the initial  exercise
price (as set forth above) or the adjusted exercise price per share.

<PAGE>

         As used  herein,  the term "THIS  WARRANT"  shall mean and include this
Warrant and any Warrant or Warrants  hereafter  issued as a  consequence  of the
exercise or transfer of this  Warrant in whole or in part.  Each share of Common
Stock issuable upon the exercise  hereof shall be  hereinafter  referred to as a
"WARRANT SHARE".

                  1. (a) Subject to the terms of this Warrant,  this Warrant may
be exercised  at any time in whole and from time to time in part,  at the option
of the Holder,  on or after the Effective Time and on or prior to the end of the
Exercise Period.

         (b) This Warrant shall  initially be  exercisable  in whole or in part,
for such number of fully paid and nonassessable shares of Common Stock indicated
herein, for an exercise price per share equal to the Exercise Price, by delivery
to the  Company at its office at 2575 East  Camelback  Road Suite 450,  Phoenix,
Arizona  85016,  or at such  other  place as is  designated  in  writing  by the
Company, of:

                  (i) a completed Notice to Exercise (for Cash), in the form set
         forth in EXHIBIT I,  executed by the Holder  exercising  all or part of
         the purchase rights represented by this Warrant;

                  (ii) this Warrant;

                  (iii) if this  Warrant  is not  registered  in the name of the
         initial  registered  Holder,  an  assignment  in the form set  forth in
         EXHIBIT III hereto  evidencing  the  assignment  of this Warrant to the
         current Holder; and

                  (iv) payment of an amount equal to the product of the Exercise
         Price  multiplied  by the  number  of  shares  of  Common  Stock  being
         purchased  upon such  exercise in the form of, at the Holder's  option,
         (A) a certified or bank cashier's check payable to the Company,  or (B)
         a wire transfer of funds to an account designated by the Company.

         (c)  Additionally,  the Holder may exercise this Warrant by delivery to
the  Company at its  office at 2575 East  Camelback  Road  Suite  450,  Phoenix,
Arizona  85016,  or at such  other  place as is  designated  in  writing  by the
Company, of:

                  (i) a completed Notice to Exercise (Cashless), in the form set
         forth in EXHIBIT II,  executed by the Holder  exercising all or part of
         the exchange rights represented by this Warrant;

                  (ii) this Warrant; and

                  (iii) if this  Warrant  is not  registered  in the name of the
         initial  registered  Holder,  an  assignment  in the form set  forth in
         EXHIBIT III hereto  evidencing  the  assignment  of this Warrant to the
         current Holder;

         Such presentation and delivery (a "CASHLESS  EXERCISE") shall be deemed
a waiver of the Holder's obligation to pay the Exercise Price or, in the case of
a partial  exercise of this Warrant,

                                     - 2 -
<PAGE>

of the  portion  of the  Exercise  Price  that  would  otherwise  be  payable in
connection with such partial  exercise.  Upon such  presentation and delivery in
connection  with a Cashless  Exercise,  the number of Warrant  Shares subject to
this Warrant shall be reduced by the number of Warrant  Shares  specified on the
Notice to Exercise  (Cashless)  form,  and in exchange  for such  reduction  the
Holder shall receive the number of Warrant Shares, as the case may be, specified
on the Notice to  Exercise  (Cashless)  form (up to the total  number of Warrant
Shares  which  are  subject  to this  Warrant)  multiplied  by a  fraction,  the
numerator of which shall be the excess of the then Fair Market Value per Warrant
Share over the Exercise  Price,  and the  denominator of which shall be the then
Fair Market Value per Warrant Share.

         (d) As used herein "FAIR MARKET VALUE" of a security shall mean, on any
given day,  the average of the closing  prices of such  security's  sales on all
securities  exchanges  on which such  security may at the time be listed on such
day,  or,  if there  has been no sales on any such  exchange  on such  day,  the
average of the highest bid and lowest asked prices on all such  exchanges at the
end of such day, or, if on such day such security is not so listed,  the average
of the  representative  bid and  asked  prices  quoted  on the  over-the-counter
bulletin  board (the "OTCBB") as of 4:00 P.M., New York time, or, if on such day
such  security  is not quoted on the OTCBB,  the  average of the highest bid and
lowest  asked  prices  on such day in the  domestic  over-the-counter  market as
reported by the PinkSheet, LLC, or any similar successor organization. If at any
time such  security  is not listed on any  securities  exchange or quoted on the
OTCBB or the  over-the-counter  market,  the  "Fair  Market  Value"  shall be as
determined by the Board of Directors in good faith, absent manifest error.

         (e) Upon the  exercise of this  Warrant,  the  Company  shall issue and
cause  promptly to be delivered upon such exercise to, or upon the written order
of,  the  Holder  and in such  name or  names as the  Holder  may  designate,  a
certificate or certificates  for the number of full Warrant Shares to which such
Holder  shall be  entitled,  together  with  cash in lieu of any  fraction  of a
Warrant  Share  otherwise  issuable upon such exercise in an amount equal to the
product of (i) such  fraction  multiplied  by (ii) the Fair Market  Value on the
date of exercise.  Such certificate or certificates shall be deemed to have been
issued,  and any person so  designated  to be the person or persons  entitled to
receive the Warrant  Shares  issuable  upon  exercise of this  Warrant  shall be
deemed  to have  become  a holder  of  record  of such  Warrant  Shares  for all
purposes,  as of the  close of  business  on the date of the  surrender  of this
Warrant and full payment of the Exercise Price.

         (f) If this  Warrant  is  exercised  in respect of less than all of the
Warrant  Shares  evidenced  by this  Warrant at any time prior to the end of the
Exercise Period, a new Warrant  evidencing the remaining Warrant Shares shall be
issued to the Holder, or its nominee(s), without charge therefor.

         2. Upon each  exercise  of the  Holder's  rights  to  purchase  Warrant
Shares,  the Holder  shall be deemed to be the  holder of record of the  Warrant
Shares,  notwithstanding  that the transfer  books of the Company  shall then be
closed or  certificates  representing  the Warrant  Shares with respect to which
this Warrant was exercised  shall not then have been  actually  delivered to the
Holder.  As soon as  practicable  after each such exercise of this Warrant,  the
Company  shall issue and  deliver to the Holder a  certificate  or  certificates
representing  the

                                     - 3 -
<PAGE>

Warrant Shares issuable upon such exercise, registered in the name of the Holder
or its designee.  If this Warrant  should be exercised in part only, the Company
shall,  upon surrender of this Warrant for  cancellation,  execute and deliver a
Warrant  evidencing  the right of the  Holder to  purchase  the  balance  of the
aggregate  number of  Warrant  Shares  purchasable  hereunder  as to which  this
Warrant has not been exercised or assigned.

         3. Any  Warrants  issued upon the  transfer or exercise in part of this
Warrant  shall be numbered and shall be  registered  in a warrant  register (the
"WARRANT  REGISTER") as they are issued.  The Company shall be entitled to treat
the  registered  holder of any Warrant on the  Warrant  Register as the owner in
fact thereof for all purposes, and shall not be bound to recognize any equitable
or other claim to, or interest in, such Warrant on the part of any other person,
and shall not be liable for any  registration  of transfer of Warrants which are
registered  or to be  registered  in the name of a fiduciary or the nominee of a
fiduciary  unless made with the actual  knowledge that a fiduciary or nominee is
committing a breach of trust in requesting  such  registration  or transfer,  or
with the knowledge of such facts that its  participation  therein amounts to bad
faith.  This Warrant shall be transferable on the books of the Company only upon
delivery thereof duly endorsed by the Holder or by his duly authorized  attorney
or representative, or accompanied by proper evidence of succession,  assignment,
or  authority to  transfer.  In all cases of transfer by an attorney,  executor,
administrator,  guardian,  or other  legal  representative,  duly  authenticated
evidence of his, her, or its authority shall be produced.  Upon any registration
of transfer,  the Company  shall deliver a new Warrant or Warrants to the person
entitled  thereto.  This Warrant may be  exchanged,  at the option of the Holder
thereof, for another Warrant, or other Warrants of different  denominations,  of
like tenor and representing in the aggregate the right to purchase a like number
of Warrant  Shares (or portions  thereof),  upon surrender to the Company or its
duly authorized agent.  Notwithstanding the foregoing, the Company shall have no
obligation to cause Warrants to be transferred on its books to any person if, in
the opinion of counsel to the Company,  such  transfer  does not comply with the
provisions of the Securities Act of 1933, as amended (the "SECURITIES ACT"), and
the rules and regulations thereunder.

            4. The Company  shall pay all  federal  and state taxes  (other than
taxes on income of the Holder),  documentary  taxes,  stamp  taxes,  if any, and
other governmental  charges that may be imposed upon the issuance or delivery of
this  Warrant  or upon the  issuance  or  delivery  of Warrant  Shares  upon the
exercise of this  Warrant,  PROVIDED,  HOWEVER,  that the  Company  shall not be
required to pay any taxes  payable in connection  with any transfer  involved in
the issuance or delivery of any Warrants or Warrant  Shares in a name other than
that of the  Holder in  respect of which such  Warrant  Shares are  issued.  The
Company may refuse to deliver the  certificates  representing the Warrant Shares
being issued in a name other than the Holder's name until the Company receives a
sum  sufficient  to pay any tax that will be due  because  such shares are to be
issued in a name other than the Holder's name.

            5. (a) The Company shall at all times reserve and keep available out
of its authorized and unissued Common Stock, solely for the purpose of providing
for the  exercise  of the  Warrants,  such  number of shares of Common  Stock as
shall, from time to time, be sufficient therefor. The Company covenants that all
Warrant  Shares  which may be issued upon the  exercise of the  purchase  rights
represented  by  this  Warrant  will,  upon  exercise  of  the  purchase

                                     - 4 -
<PAGE>

rights represented by this Warrant,  be duly authorized,  validly issued,  fully
paid and nonassessable and free from all taxes,  liens and charges in respect of
the issue  thereof  (other  than  taxes in  respect  of any  transfer  occurring
contemporaneously  with such issue), without any personal liability attaching to
the ownership  thereof and will not be issued in violation of any  preemptive or
similar rights of stockholders.  The Company further covenants that its issuance
of this Warrant shall  constitute full authority to its officers who are charged
with the duty of executing stock certificates to execute and issue the necessary
certificates  for the Warrant  Shares upon the exercise of the  purchase  rights
under this Warrant.  The Company will take all such reasonable  action as may be
necessary  to assure that such Warrant  Shares may be issued as provided  herein
without violation of any applicable law or regulation, or of any requirements of
the trading market upon which the Common Stock may be listed.

         (b) The  transfer  agent for the  Common  Stock  and  every  subsequent
transfer agent for any of the Company's securities issuable upon the exercise of
this  Warrant  shall be  irrevocably  authorized  and  directed  at all times to
reserve  such number of  authorized  securities  as shall be  required  for such
purpose. The Company shall keep a copy of this Warrant on file with the transfer
agent for the Common Stock and with every  subsequent  transfer agent for shares
of the Company's  securities  issuable  upon the exercise of this  Warrant.  The
Company  shall  supply  such  transfer  agent  with duly  executed  certificates
representing the Common Stock or other securities for such purposes.

         (c) The Company shall not by any action including,  without limitation,
amending  its  certificate  of  incorporation  or  through  any  reorganization,
transfer  of  assets,  consolidation,  merger,  dissolution,  issue  or  sale of
securities or any other voluntary action,  avoid or seek to avoid the observance
or  performance  of any of the terms of this  Warrant;  but will at all times in
good faith assist in the carrying out of all such terms and in the taking of all
such  actions as may be necessary  or  appropriate  to protect the rights of the
Holder against impairment. Without limiting the generality of the foregoing, the
Company  will (a) not  increase  the par value of any  shares  of  Common  Stock
receivable  upon the exercise of this Warrant above the amount payable  therefor
upon such exercise immediately prior to such increase in par value, and (b) take
all such action as may be necessary or appropriate in order that the Company may
validly and legally  issue fully paid and  nonassessable  shares of Common Stock
upon the exercise of this Warrant.

         6. The Company will (i) obtain and keep  effective any and all permits,
consents and approvals of Federal or state governmental agencies and authorities
and make all filings under Federal and state  securities laws, that are required
in connection  with the issuance and delivery of this  Warrant,  the exercise of
this  Warrant,  and the issuance and delivery of the Warrant  Shares issued upon
exercise of this Warrant, and (ii) have the Warrant Shares, upon their issuance,
listed  on each  securities  exchange  on which the  Common  Stock (or any other
securities included in Warrant Shares) are then listed.

         7. If the Company  purchases or otherwise  acquires this  Warrant,  the
Company shall cancel this  Warrant,  and any Warrant  surrendered  for exchange,
substitution, transfer or exercise in whole or in part.

                                     - 5 -
<PAGE>

         8. The Exercise Price for the Warrants in effect from time to time, and
the number of Warrant  Shares  issuable upon exercise of the Warrants,  shall be
subject to adjustment as follows:

         (a) If the Company, at any time while this Warrant is outstanding:  (A)
pays a stock  dividend or otherwise  make a  distribution  or  distributions  on
shares of its Common Stock or any other equity or equity  equivalent  securities
payable in shares of Common Stock  (which,  for  avoidance  of doubt,  shall not
include  any  shares of Common  Stock  issued by the  Company  pursuant  to this
Warrant), (B) subdivides outstanding shares of Common Stock into a larger number
of shares,  (C) combines  (including by way of reverse stock split)  outstanding
shares of  Common  Stock  into a smaller  number  of  shares,  or (D)  issues by
reclassification  of shares of the Common  Stock any shares of capital  stock of
the  Company,  then in each case the  Exercise  Price shall be  multiplied  by a
fraction of which the  numerator  shall be the number of shares of Common  Stock
(excluding  treasury shares, if any) outstanding  immediately  before such event
and of which the  denominator  shall be the  number  of  shares of Common  Stock
outstanding  immediately  after such event. Any adjustment made pursuant to this
Section 8(a) shall become  effective  immediately  after the record date for the
determination of stockholders  entitled to receive such dividend or distribution
and shall become effective immediately after the effective date in the case of a
subdivision, combination or re-classification.

         (b) When any  adjustment  is required to be made in the Exercise  Price
pursuant to subsection  8(a), the number of Warrant Shares  purchasable upon the
exercise of this Warrant  shall be changed to the number  determined by dividing
(i) an  amount  equal to  product  of the  number of  shares  issuable  upon the
exercise of this Warrant immediately prior to such adjustment  multiplied by the
Exercise  Price in  effect  immediately  prior to such  adjustment,  by (ii) the
Exercise Price in effect immediately after such adjustment.

         (c) Upon the  occurrence  of each  adjustment  or  readjustment  of the
Exercise Price pursuant to this Section 8, the Company at its expense shall,  as
promptly as reasonably  practicable but in any event not later than fifteen (15)
days thereafter,  compute such adjustment or readjustment in accordance with the
terms  hereof  and  furnish  to the  Holder a  certificate  setting  forth  such
adjustment or readjustment (including the kind and amount of securities, cash or
other  property for which this  Warrant  shall be  exercisable  and the Exercise
Price)  and  showing  in  detail  the  facts  upon  which  such   adjustment  or
readjustment is based. The Company shall, as promptly as reasonably  practicable
after the written  request at any time of the Holder (but in any event not later
than 15 days  thereafter),  furnish  or cause to be  furnished  to the  Holder a
certificate  setting  forth (i) the  Exercise  Price then in effect and (ii) the
number and class or series of Warrant  Shares and the  amount,  if any, of other
securities,  cash or property  which then would be received upon the exercise of
this Warrant.

         (d) All calculations  under this Section 8 shall be made to the nearest
cent or the nearest 1/100th of a share, as the case may be.

         (e) The Company shall not be required upon the exercise of this Warrant
to issue any fractional shares, but shall pay the value thereof to the Holder in
cash on the basis of the Fair Market  Value per  Warrant  Share,  as  determined
pursuant to subsection 1(d) above.

                                     - 6 -
<PAGE>

         9.  Unless  registered,  the Warrant  Shares  issued on exercise of the
Warrants  shall be  subject  to a stop  transfer  order and the  certificate  or
certificates representing the Warrant Shares shall bear the following legend:

         THE SECURITIES  REPRESENTED  HEREBY HAVE NOT BEEN REGISTERED  UNDER THE
         SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR ANY STATE
         SECURITIES LAWS AND MAY NOT BE OFFERED,  SOLD,  PLEDGED,  ASSIGNED,  OR
         OTHERWISE TRANSFERRED UNLESS (1) A REGISTRATION  STATEMENT WITH RESPECT
         THERETO IS EFFECTIVE UNDER THE SECURITIES ACT AND ANY APPLICABLE  STATE
         SECURITIES  LAWS, OR (2) THE COMPANY  RECEIVES AN OPINION OF COUNSEL TO
         THE HOLDER OF SUCH SECURITIES, WHICH COUNSEL AND OPINION ARE REASONABLY
         SATISFACTORY  TO THE COMPANY,  THAT  SECURITIES  MAY BE OFFERED,  SOLD,
         PLEDGED,  ASSIGNED, OR OTHERWISE TRANSFERRED IN THE MANNER CONTEMPLATED
         WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR
         APPLICABLE STATE SECURITIES LAWS.

         10. The Company  covenants that upon receipt by the Company of evidence
reasonably  satisfactory to it of the loss, theft,  destruction or mutilation of
this Warrant or any stock  certificate  relating to the Warrant  Shares,  and in
case of  loss,  theft  or  destruction,  of  indemnity  or  security  reasonably
satisfactory to it, and upon surrender and cancellation of such Warrant or stock
certificate,  if  mutilated,  the Company will make and deliver a new Warrant or
stock certificate of like date, tenor and denomination , in lieu of such Warrant
or stock certificate.

         11. (a) The Holder of any Warrant shall not have,  solely on account of
such status,  any rights of a  stockholder  of the Company,  either at law or in
equity, or to any notice of meetings of stockholders or of any other proceedings
of the Company, except as provided in this Warrant.

                  (b) No provision hereof, in the absence of affirmative  action
by  Holder  to  Warrant  Shares,  and no  enumeration  herein  of the  rights or
privileges of Holder hereof, shall give rise to any liability of such Holder for
the purchase price of any Common Stock or as a stockholder  of Company,  whether
such liability is asserted by Company or by creditors of Company.

         12. Promptly upon the  appointment of any subsequent  transfer agent of
the Common  Stock,  or any other  securities  issuable upon the exercise of this
Warrant,  the Company will deliver to the Holder a statement  setting  forth the
name and address of such subsequent transfer agent.

         13. All  notices and other  communications  provided  for or  permitted
hereunder  shall be in writing and shall be deemed given (i) when made,  if made
by hand delivery,  (ii) upon confirmation,  if made by telecopier,  or (iii) one
business day after being deposited with a reputable  next-day  courier,  postage
prepaid, to the parties as follows:

                                     - 7 -
<PAGE>

                         if to the Company:

                         2575 East Camelback Road
                         Suite 450
                         Phoenix, Arizona   85016
                         Attention: Ronald H. Lane Ph.D.
                         Telecopy: (602) 508-0115

                         if to the Holder:

                         As set forth in the Warrant Register of the Company.

                  The  Company  or the  Holder by notice to the other  party may
designate  additional or different addresses as shall be furnished in writing by
such party. Any notice or communication  mailed to the Holder shall be mailed by
first class mail or other equivalent means at such Holder's address and shall be
sufficiently given to such Holder if so mailed within the time prescribed.

         14. The Company and the Holder may from time to time supplement, modify
or amend this  Warrant,  except,  this  Warrant may not be amended,  modified or
supplemented,  and waivers or consents to departures from the provisions  hereof
may not be given, without the written consent of the Company and the Holder.

         15. All the  covenants  and  provisions  of this  Warrant by or for the
benefit of the  Company or the Holder  shall be binding  upon and shall inure to
the benefit of their respective permitted successors and assigns hereunder.

         16. The Company shall not merge or  consolidate  with or into any other
entity unless the entity resulting from such merger or consolidation (if not the
Company) shall expressly assume, by supplemental  agreement satisfactory in form
to the Holder and  executed and  delivered  to the Holder,  the due and punctual
performance  and  observance  of each and every  covenant and  condition of this
Warrant to be performed and observed by the Company.

         17. The validity,  interpretation and performance of this warrant shall
be governed by the laws of the State of New York,  as applied to contracts  made
and  performed  within the state of New York,  without  regard to  principles of
conflicts  of  law.  Each  of the  parties  hereto  irrevocably  submits  to the
exclusive  jurisdiction  of the  courts of the State of New York and the  United
States  District  Court for the  Southern  District  of New  York,  in each case
sitting in the Borough of  Manhattan,  City of New York,  for the purpose of any
suit,  action,  proceeding or judgment relating to or arising out of this letter
agreement.  Service  of  process in  connection  with any such  suit,  action or
proceeding may be served on each party hereto  anywhere in the world by the same
methods as are specified  for the giving of notices under this Warrant.  Each of
the parties hereto irrevocably consents to the jurisdiction of any such court in
any such suit,  action or  proceeding  and to the laying of venue in such court.
Each party hereto irrevocably waives any objection to the laying of venue of any
such suit,  action or proceeding  brought in such courts and irrevocably  waives
any claim that any such suit, action or proceeding brought in any such court has
been brought in an inconvenient forum.

                                     - 8 -
<PAGE>

         18. The provisions hereof have been and are made solely for the benefit
of the Company and the Holder, and their respective  successors and assigns, and
no other person shall acquire or have any right hereunder or by virtue hereof.

         19. The headings in this Warrant are for convenience only and shall not
limit or otherwise affect the meaning hereof.

         20. If any term, provision,  covenant or restriction of this Warrant is
held by a court  of  competent  jurisdiction  to be  invalid,  illegal,  void or
unenforceable,   the   remainder  of  the  terms,   provisions,   covenants  and
restrictions set forth herein shall remain in full force and effect and shall in
no way be affected,  impaired or  invalidated,  and the parties hereto shall use
their best efforts to find and employ an  alternative  means to achieve the same
or substantially the same result as that  contemplated by such term,  provision,
covenant  or  restriction.  It is  hereby  stipulated  and  declared  to be  the
intention of the parties  that they would have  executed  the  remaining  terms,
provisions,  covenants and restrictions  without including any of such which may
be hereafter declared invalid, illegal, void or unenforceable.

         21. This  Warrant is intended by the parties as a final  expression  of
their  agreement  and intended to be a complete and  exclusive  statement of the
agreement  and  understanding  of the  parties  hereto in respect of the subject
matter  contained  herein  and  therein.  There are no  restrictions,  promises,
warranties or undertakings, other than those set forth or referred to herein and
therein. This Warrant supersedes all prior agreements and understandings between
the parties with respect to such subject matter.

         22. In any action or  proceeding  brought to enforce any  provision  of
this Warrant,  or where any provision  hereof is validly  asserted as a defense,
the prevailing  party, as determined by the court,  shall be entitled to recover
reasonable attorneys' fees in addition to any other available remedy.

         23. Each party hereto  agrees to use all  reasonable  efforts to obtain
all  consents  and  approvals,  and to do all other  things,  necessary  for the
transactions contemplated by this Warrant on or prior to the end of the Exercise
Period. The parties agree to take such further action and to deliver or cause to
be delivered to each other after the date hereof such  additional  agreements or
instruments  as any of them may  reasonably  request for the purpose of carrying
out this Warrant and the agreements  and  transactions  contemplated  hereby and
thereby.

Dated: February 1, 2007

                                            SYNOVICS PHARMACEUTICALS, INC.

                                            BY:
                                               ---------------------------------
                                                 NAME:
                                                 TITLE:

[Seal]

----------------------
Secretary

                                     - 9 -
<PAGE>

EXHIBIT I

                          NOTICE TO EXERCISE (FOR CASH)

                  The undersigned hereby irrevocably elects to exercise Warrants
represented  by this Warrant and to purchase the shares of Common Stock or other
securities  issuable  upon the  exercise of said  Warrants,  and  requests  that
Certificates for such shares be issued and delivered as follows:

ISSUE TO:
                           -----------------------------------------------------
                           (Name)

                           -----------------------------------------------------
                           (Address, Including Zip Code)

                           -----------------------------------------------------
                           (Social Security or Tax Identification Number)

DELIVER TO:
                           -----------------------------------------------------
                           (Name)

                           -----------------------------------------------------
                           (Address, Including Zip Code)

                  In payment of the purchase  price with respect to this Warrant
exercised,  the undersigned hereby tenders payment of $ by (i) certified or bank
cashiers  check payable to the order of the Company |_|; or (ii) a wire transfer
of such funds to an account  designated  by the  Company  |_| (CHECK  APPLICABLE
BOX).  If the number of Warrant  Shares  hereby  exercised is fewer than all the
Warrant Shares represented by this Warrant,  the undersigned requests that a new
Warrant  representing  the number of full  Warrant  Shares not  exercised  to be
issued and delivered as set forth below:

Name of Holder or Assignee:
                            ---------------------------------------
                            (Please Print)

Address:
        -----------------------------------------------------------

        -----------------------------------------------------------

Signature:_______________________________________  DATED: _______________, 200__
(Signature must conform in all respects to name of holder as  specified  on  the
fact of this Warrant)

Signature Guaranteed:
                     ------------------------------------------------

<PAGE>
EXHIBIT II

                          NOTICE TO EXERCISE (CASHLESS)

                  The undersigned  Holder  ___________________,  pursuant to the
provisions of the Warrant, hereby elects to exchange its Warrant, in whole or in
part,  as  appropriate,  for ______  shares of Common Stock or other  securities
issuable  upon the  exercise of said  Warrants  of the  Company  pursuant to the
cashless  exercise  provisions  of Section 1(c) of the Warrant and requests that
Certificates for such shares be issued and delivered as follows:

ISSUE TO:
                           -----------------------------------------------------
                           (Name)

                           -----------------------------------------------------
                           (Address, Including Zip Code)

                           -----------------------------------------------------
                           (Social Security or Tax Identification Number)

DELIVER TO:
                           -----------------------------------------------------
                           (Name)

                           -----------------------------------------------------
                           (Address, Including Zip Code)

                  If the number of Warrant Shares hereby exchanged is fewer than
all the Warrant Shares  represented by this Warrant,  the  undersigned  requests
that a new Warrant  representing the number of full Warrant Shares not exchanged
to be issued and delivered as set forth below:

Name of Holder or Assignee:
                            ---------------------------------------
                            (Please Print)

Address:
        -----------------------------------------------------------

        -----------------------------------------------------------

Signature:_______________________________________  DATED: _______________, 200__
(Signature must conform in all respects to name of holder as specified on the
fact of this Warrant)

Signature Guaranteed:
                     ------------------------------------------------

<PAGE>

EXHIBIT III

                                   ASSIGNMENT

                  FOR VALUE RECEIVED,  the undersigned hereby sells, assigns and
transfers  unto the  Assignee  named below all of the rights of the  undersigned
represented by the within Warrant,  with respect to the number of Warrant Shares
set forth below:

                                                                    Taxpayer
                                               Number of         Identification
Name of Assignee         Address            Warrant Shares           Number
----------------         -------            --------------           ------

and  does  hereby  irrevocably   constitute  and  appoint   ___________________,
Attorney,  to make such  transfer  on the  Warrant  Register  maintained  at the
principal office of the Company with full power of substitution in the premises.

Dated:  _______________________________200__          __________________________
         Signature
(Signature  must  conform in all  respects to name of holder as specified on the
face of this Warrant).

Signature Guaranteed:

--------------------------------------------------------------------------------

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