Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - ImVisioN Therapeutics Inc. - Exhibit 10.16

EXHIBIT 10.16 

 

COLLABORATION AGREEMENT 

 

Development of a Proof-of-Concept Formulation
of IVN201 

 

 

between 

 

ImVisioN GmbH, Feodor Lynen Strasse 5, D-30625
Hannover, Germany (“IMVISION”) 

 

and 

 

Therapeomic Inc., Biozentrum, University of Basel,
Klingenbergstrasse 70, CH-4056 Basel, Switzerland („THERAPEOMIC”) 

 

Page 1 of 14

Preamble 

IMVISION is a biotechnology company based in Hannover, Germany,
and focused on the development of novel immuntherapies based on its MAT
(Modular-Antigen-Transporter) technology platform to treat allergic diseases,
autoimmune diseases and (chronic) infectious diseases. 

IMVISION’s lead product, IVN201, an immunotherapeutic to treat
cat dander allergy is currently undergoing preclinical development and is
expected to enter clinical trials in 2006. 

THERAPEOMIC is a biotechnology company providing services and
expertise in the characterisation of biophysical properties of therapeutic
proteins and in the formulation of protein therapeutics as pharmaceutical
products. 

IMVISION and THERAPEOMIC intend to collaborate on the
development of a Proof-of-Concept Formulation of IMVISION’S IVN201
immunotherapeutic. 

Now, therefore in consideration of the foregoing and of the
mutual representations, warranties and covenants contained in this Agreement and
other good and valuable considerations the Parties hereby agree as follows:

	1. 	
      Obligations of THERAPEOMIC:

	 	 
	1.1 	
      THERAPEOMIC will use good faith efforts to conduct the
      work outlined in Attachment A (“PROJECT”) within the agreed upon time
      frame as an independent contractor.

	 	 
	1.2 	
      Prof. Dr. Tudor Arvinte, the CEO of THERAPEOMIC, will be
      responsible for the supervision of the PROJECT and direct THERAPEOMIC’s
      performance under this collaboration.

Page 2 of 14

	1.3 	
      THERAPEOMIC will regularly report to IMVISION on the
      progress of the PROJECT. All written reports due under the PROJECT (see
      Attachment A) shall be submitted to IMVISION shortly after completion of
      the experimental work und the respective work package.

	 	 
	2. 	
      Responsibilities of IMVISION:

	 	 
	2.1 	
      IMVISION (or its contract manufacturing organization,
      Strathmann Biotec AG, Hamburg) will provide THERAPEOMIC with sufficient
      amounts of IVN201 protein to conduct the studies outlined in Attachment A
      and all necessary information and documentation on the IVN201
    protein.

	 	 
	2.2 	
      IMVISION will notify THERAPEOMIC in writing if IVN
      approves the reports submitted by THERAPEOMICS according to 1.3 within 2
      weeks after its receipt.

	 	 
		
      In case IMVISION does not give approval to the report and
      requests amendments or additional information to be included, IMVISION
      shall request those changes and additional information in writing within 2
      weeks after receipt of the report and THERAPEOMIC will include said
      changes and additional information in the report within 3 weeks after
      receipt of such request from IMVISION.

	 	 
	2.3 	
      IMVISION hereby grants to THERAPEOMIC a non-exclusive
      research license for use of its necessary proprietary technologies,
      know-how and materials for the sole purpose of THERAPEOMIC’s performance
      of the Services in accordance with this Agreement.

	 	 
	3. 	
      Payments

	 	 
	3.1. 	
      Subject to THERAPEOMIC’s `s performance of services in
      accordance with this Agreement, IMVISION shall pay to THERAPEOMIC a total
      amount of 100.000,- EUR.

	 	 
	3.2. 	
      THERAPEOMIC will invoice IMVISION after completion of
      each milestone and acceptance of the respective reports by IMVISION.
      Milestones and payments due are defined in Attachment B. All payments
      provided in this Agreement have to be made to the following
  account:

Page 3 of 14

	 	IBAN 	xxxx xxxx xxxx xxxx xxxx x 
	 	Bank 	Credit Suisse 
	 	  	St. Alban-Graben 1-3 
	 	  	Postfach 4157 
	 	  	CH-4002 Basel 
	 	SWIFT 	CRESCHZZ40A

		
      Each payment has to be made free of charges and plus VAT
      if the payment is subject to VAT according to the applicable
law.

	 	 
	3.3. 	
      The amounts shall include any and all additional costs,
      such as salaries, overhead, equipment, facilities and consumables, but not
      the active pharmaceutical ingredients (IVN201 or special chemicals used in
      formulations), which shall be supplied by IMVISION.

	 	 
	3.4. 	
      Reasonable travel expenses incurred by THERAPEOMIC
      employees in the course of the PROJECT shall be reimbursed by IMVISION
      after submission of an expense report with corresponding receipts by
      THERAPEOMIC.

	 	 
	3.5 	
      All Payments shall be made by IMVISION within thirty (30)
      days after the date of IMVISION `s receipt of the invoice from
      THERAPEOMIC.

	 	 
	4. 	
      Confidentiality

	 	 
	4.1 	
      In consideration of, and reliance upon, the covenants of
      THERAPEOMIC and IMVISION herein contained, the parties have or will
      disclose to each other certain information (hereinafter referred to as
      "Confidential Information"), including, without limitation,
      information concerning future or proposed products, financial performance
      and projections, customers, employees, contracts, strategic relationships,
      marketing plans and business plans and other information. All documents,
      disclosures and written or oral statements disclosed by a party (the
      "Disclosing Party") to the other party (the "Receiving
      Party") shall be deemed "Confidential Information" if clearly marked
      so. Except as provided herein, "Confidential Information" shall include,
      without limitation, proprietary, technical, marketing, operating,
      performance, cost, business pricing policies, programs, inventions,
      discoveries, trade secrets, techniques, processes, source
  code,

Page 4 of 14

		
      unlinked object modules, computer programming techniques,
      and all record bearing media containing or disclosing such information and
      techniques disclosed pursuant to this Agreement.

	 	 
		
      The Agreement itself and its content, as well as the
      identity of the parties shall be considered Confidential Information as
      well.

	 	 
	4.2 	
      The obligations of this Agreement hereof shall not apply
      to any information if:

	 	a) 	
      it was in the public domain at the time of communication
      to the Receiving Party or is later placed in the public domain by the
      Disclosing Party;

	 	 	 
	 	b) 	
      it entered the public domain
      through no fault of the Receiving Party subsequent to the time of
      disclosure hereunder to the Receiving Party;

	 	 	 
	 	c) 	
      it was in the Receiving Party's possession free of any
      obligation of confidence prior to disclosure
hereunder.

	4.3 	
      a) 
	
      The Receiving Party shall not disclose, publish or
      communicate the Confidential Information to any third party without the
      prior written consent of the Disclosing Party.

	 	 	
       

		b) 	
      The Receiving Party shall not use the Confidential
      Information nor circulate it within its own organisation except to the
      extent necessary or desirable for negotiations, discussions and
      consultations with personnel or authorized representatives of the parties,
      relating to the purposes of this Agreement.

	 	 	
       

		c) 	
      The Receiving Party shall use its best efforts to prevent
      inadvertent disclosure of the Confidential Information to unauthorized
      personnel or to any other third party, including establishing and
      monitoring internal procedures regarding the Confidential Information
      which are at least as protective as the protection the Receiving Party
      affords its own Confidential Information. The Receiving Party shall
      immediately notify the Disclosing Party if the Confidential Information is
      used, distributed, or communicated in a manner not authorized under this
      Agreement.

	 	 	
       

		d) 	
      Upon demand or, if not otherwise demanded, upon the
      termination of such project or purposes, the Confidential Information and
      all copies thereof and notes made therefrom shall be immediately destroyed
      by the Receiving Party or returned to the Disclosing Party. If destroyed,
      the Receiving Party shall

Page 5 of 14

		
      certify in writing to the Disclosing Party that all such
      information, including all copies, has been destroyed.

	 	 
	5. 	
      Data, Inventions and Know-How

	 	 
	5.1 	
      If in the course of the PROJECT inventions are made and
      Know-How is developed by THERAPEOMIC in connection with the development of
      a Proof-of- Concept formulation for IVN201 such inventions and Know-How
      shall be exclusively assigned to IMVISION.

	 	 
	5.2 	
      THERAPEOMIC will inform IMVISION without delay of all
      inventions made and Know-How developed in connection with the development
      of the formulation of IVN201 Protein, irrespective of whether such
      inventions are deemed patentable or not. It is understood between the
      parties that IMVISION may at its sole discretion file a patent application
      based on such invention

	 	 
	5.3 	
      THERAPEOMIC is obliged to execute all declarations and
      documents in due form which are required for IMVISION to file such patent
      applications. Moreover, THERAPEOMIC is obliged to assign any rights on
      inventions in accordance with these principles free of any third parties’
      rights.

	 	 
	5.4 	
      If IMVISION develops and commercialises any product which
      falls under a patented invention made by PROTEOMIC under this PROJECT,
      IMVISION shall make to PROTEOMIC the payments outlined in Attachment C of
      this Agreement.

	 	 
	5.5 	
      All documentation, Know-How and data produced and
      developed in the context of carrying out the PROJECT will become the sole
      property of IMVISION. THERAPEOMIC shall provide all documents containing
      data and describing Know-How to IMVISION. Original documents that need to
      be retained by THERAPEOMIC for regulatory purposes will be made available
      to IMVISION in form of copies. IMVISION may decide upon its sole
      discretion to provide access to such documentation and data to regulatory
      authorities, to its licensees or to any other third party.

	 	 
	6. 	
      Publication

	 	 
	6.1 	
      It is the sole discretion of IMVISION whether or not to
      publish data and results generated by THERAPEOMIC under the
  PROJECT.

Page 6 of 14

	6.2 	
      If IMVISION decides to publish data and results generated
      by THERAPEOMIC under the PROJECT, IMVISION will cooperate with THERAPEOMIC
      to submit such publication and will adhere to common rules of authorship
      on such publication.

	 	 
	7. 	
      Duration and Termination of Agreement

	 	 
	7.1 	
      This Agreement shall become effective as of [ ] and shall
      remain in full force and effect until the obligations of the Parties
      hereunder have been fully performed, unless extended by mutual written
      agreement of the Parties.

	 	 
	7.2 	
      This Agreement may be terminated immediately (i) by
      THERAPEOMIC as the case may be, upon material breach of this Agreement by
      IMVISION and the failure of IMVISION to cure such breach within thirty
      (30) days of receipt of THERAPEOMIC’s written notice describing such
      breach in reasonable detail or (ii) by IMVISION upon material breach of
      the Agreement by THERAPEOMIC, and the failure of THERAPEOMIC to cure such
      breach within thirty (30) days of receipt of IMVISION’s written notice
      describing such breach in reasonable detail.

	 	 
	7.3 	
      In case of termination by THERAPEOMIC according to clause
      6.2, IMVISION shall pay all accrued costs arisen by performance of the
      services up to the termination date.

	 	 
	7.4 	
      The provisions of Articles 4, 5 and 7 shall survive the
      termination of the Agreement. Upon termination of this Agreement each
      Party shall return to the other Party, or at the request of the other
      Party destroy, Confidential Information of the other Party.

	 	 
	8. 	
      Governing law

	 	 
	8.1 	
      This agreement shall be governed by the law of
      Germany.

	 	 
	8.2 	
      Place of jurisdiction is Hannover

	 	 
	9. 	
      Miscellaneous Provisions

Page 7 of 14

	9.1 	
      This Agreement, together with the enclosed Attachment A
      and Attachment B which constitute an integral part of this Agreement, is
      the entire and complete understanding between the parties with respect to
      the subject matter hereof and supersedes and merges all prior or
      contemporaneous proposals, discussions, negotiations, understandings,
      promises, representations, conditions, communications and agreements,
      whether written or oral, between the parties with respect to such subject
      matter and all past courses of dealing or industry custom.

	 	 
	9.2 	
      No amendments, changes, modifications or alterations of
      the terms and conditions of the Agreement shall be binding upon either
      party hereto unless in writing and signed by both parties.

	 	 
	9.3 	
      Notices. All notices, demands, requests, or other
      communications which may be or are required to be given, served, or sent
      by any party to any other party pursuant to this Agreement shall be given
      in writing and in English language by registered mail, internationally
      recognized overnight courier, fax (with confirmation of receipt) or by
      e-mail (to be confirmed in writing by registered mail in matters other
      than routine administrative matters) addressed to the addresses mentioned
      in the beginning of this Agreement and to the attention of the following
      persons:

	 	If to IMVISION 	If to PROTEOMIC 

	Dr. Martin Steiner 
ImVisioN GmbH 
Feodor-Lynen
      Straße 5 
D-30625 Hannover 
Germany 

Phone:
      +49-511-538-896-76 
Fax:: +49-511-538-896-66
      

m.steiner@imvision-therapeutics.com 	Dr. Tudor Arvinte 
Therapeomic Inc,
      
Klingelbergstrasse 70 
CH-4056 Basel 
Switzerland
      

Phone: +41-61-267-0680 
Fax: +41-61-267-0682
      

Tudor.arvinte@unibas.ch 

	8.4 	
      If any provision of this Agreement is held to be invalid
      or unenforceable all other provisions shall continue in full force and
      effect. The parties hereby agree to

Page 8 of 14

attempt to substitute for any invalid
or unenforceable provision a valid or enforceable provision which achieves to
the greatest and possible extent the economic, legal and commercial objectives
of the invalid or unenforceable provision.

	Hannover, 24.3.2006 	  	Basel, 24.2.2006 
	  	  	  
	/s/ Martin Steiner 	/s/ H. Rose 	/s/ Tudor Arvinte
	CEO, Martin Steiner 	COO, Horst Rose 	CEO, Tudor Arvinte 
	ImVisioN GmbH 	  	Therapeomic Inc. 

Page 9 of 14

ATTACHMENT A 

Collaboration Between IMVISION GmbH and THERAPEOMIC Inc.

On the Development of a Proof of Concept Formulation of IVN201 

I) Project goals:

	 	1) 	
      Develop methods to study IVN201 binding to surfaces and
      aggregation properties.

	 	2) 	
      Develop a formulation of IVN201 suitable for the in human
      proof of concept (POC) study: the POC formulation.

	 	3) 	
      Transfer the POC formulation to a Clinical Manufacturing
      Unit.

	 	4) 	
      Perform stability analysis of the POC formulation for the
      duration of the POC study (optional).

II) Next collaboration steps:

	 	1) 	
      Receive information on IVN201 from IMVISION on the INV201
      drug substance composition, existing analytical methods and analytical
      data, ingredients included in the formulations used until present in the
      animal studies, and the known physico-chemical properties of
  IVN201.

	 	2) 	
      THERAPEOMIC will review data from IMVISION and also
      published data on IVN201.

	 	3) 	
      Based on present information the IVN201 POC-formulation
      should fulfill the following conditions (POC formulation
  profiling):

	 		a. 	
      The POC formulation will be a frozen solution to be thaw
      before use. After thawing the IVN201 solution will be mixed with Aluminium
      adjuvant in a ratio 1: 1 (ratio to be defined together with Imvision). The
      Aluminium adjuvant will be the same as the one used in the animal studies
      performed by Imvision.

	 		b. 	
      Concentration range: 0.5μg; 1μg; and 10μg per 100μl. From
      manufacturability considerations higher concentrations will be of
      advantage e.g. 1μg, 5 μg and 10μg per 100 μl. The concentration range
      should be discussed and agreed latest during the first month of the
      study.

	 		c. 	
      The formulation should be isotonic.

	 		d. 	
      The ingredients used in the formulations should be human
      compatible.

	 	4) 	
      Experimental work will be performed in the THERAPEOMIC
      laboratories at Geneva University and at Biozentrum, University of
      Basel.

The experimental work will have the
following phases: 

Page 10 of 14

a.     
Development of methods to study the aqueous properties of IVN201 with focus on
in vitro aggregation and binding to surfaces 

Time frame: 1 month.

Milestone 1: Develop
  analytical methods based on fluorescence and light scattering to investigate
  the aggregation and adsorption to surfaces of IVN201.

     As a first step in understanding
IVN201 aggregation specific analytical methods have to be developed for the
characterization of the protein's aqueous properties. Following methods will be
developed and adapted: i) steady state fluorescence spectroscopy, ii) steady
state fluorescence anisotropy, iii) UV-VIS absorption spectroscopy, iv)
90°-lightscattering, v) fluorescence microscopy using the hydrophobic probe Nile
red. The Nile red staining method developed in our laboratory will be used to
visualize different IVN201 aggregates. The spectroscopic methods will be first
developed for cuvette and microcuvettes: sample volumes form 2.5 ml to 200 μl.
In parallel to the cuvette assays we will develop high throughput formulation
(HTF) methods for characterizing the aggregation of IVN201. These HTF methods
will use multiple-well plates suitable for fluorescence, light absorption and
fluorescence microscopy investigation. We will also develop a HTF lyophilzation
method in 96 well plates to scan for IVN201 stable freeze-dried formulations.

Methods to study IVN201 binding to surfaces will be developed
  using Tyr intrinsic fluorescence of IVN201. The binding to wall methods will
  be similar to the methods developed by T. Arvinte for TGF-23 (see Arvinte,
  et al, USA Patent US 6,649,168 B2 attached). 

b.      Develop
a frozen-solution POC-formulation of IVN201 

Time frame: 2 months 

Milestone 2 : Provide
  a Report on the studied frozen-solutions of POC-formulations of IVN201 

     Different solutions of IVN201
will be prepared and analyzed regarding protein content (binding to walls) and
protein aggregation state at t=0 and after 1 hour incubation at 24 °C. The
best-found formulations will be frozen immediately after preparation and
incubated at –20°C and –70°C for 1, 2 and 3 weeks. After incubation the
solutions will be thawed and analyzed: at t=0 and after 1 hour after thawing.
The work will focus on screening the influence of different sugars (e.g.,
sucrose, glucose, trehalose, fructose), ions (e.g., NaCl, KCl, MgCl2,
MgSO4, CaCl2), buffers, and pH on the solution aggregation
properties of IVN201. The best-found formulation will be mixed with the Al
hydroxide provided by Imvision, The mixture procedure should be the same as the
one planned to be performed in the POC study. The aggregation properties of the
IVN201 in the presence of Al hydroxide will be investigated. 

     At the end of Milestones 2
THERAPEOMIC will propose one formulation for the POC study and for the TOX
investigations. Due to Project’s timelines the work in Milestone 1 and Milestone
2 will be performed as far as possible in parallel aiming for a completion of
both milestones at the end of April 2006. 

Page 11 of 14

c.      Transfer
of the POC formulation to the Clinical Manufacturing Unit (CMU)

Time frame: 1 month 

Milestone 3 : Transfer
  the IVN201 POC-formulation 

     The best-found POC formulation
will be transferred to the CMU facility (to be defined by IMVISION). THERAPEOMIC
will provide technical support to potential occurring issues related to the
scale-up of the formulation manufacturing. The transfer should be organized as
soon as possible after the POC formulation is ready since it will be of
advantage to perform the TOX study with the same POC formulation as used in
humans. The target date for the transfer of the formulation to the CMU should be
in the first half of May 2006. 

d.      Analysis
of the stability of the POC formulation prepared by the CMU using the
THERAPEOMIC methods 

Time frame: 12 months (the duration
of the Phase I human study) 

Milestone 4 : Analysis
  report of the IVN201 POC-formulation 

     After production at the CMU the
INV201 POC-formulation will enter in GMP stability study at Strathmann and for
complementary methods at THERAPEOMIC (using the methods developed in Millstone
1). Time points and exact number of samples to be analyzed have to be
defined.

The fees for the Milestone 4 will be decided in May 2006.

Page 12 of 14

Attachment B 

Service Fees

Collaboration Between IMVISION GmbH and THERAPEOMIC Inc.

On the Development of a Proof of Concept Formulation for IVN201

In consideration for the performance of the work which will be
performed within 4 months and which is described in Attachment A, IMVISION shall
pay to THERAPEOMIC the total amount of 100,000 Euro (one hundred thousands
Euro), including VAT.

This amount shall include any and all additional costs, such as
salaries, overhead, equipment, facilities and consumables, but not the active
pharmaceutical ingredients (IVN20 or special chemicals used in the
formulations), which shall be supplied by IMVISION. Any project trip related
costs by THERAPEOMIC employees should be paid by IMVISION. 

This amount shall become due as follows: 

	
  20’000 Euro (twenty thousand Euro) on the effective date of this agreement:
  upon receipt and acceptance by IMVISION of the experimental plan as specified
  in Attachment A; 

  
	
  30’000 Euro (thirty thousand Euro) upon successful completion of the
  Milestone 1 of the Attachment A and delivery of the related report; 

  
	
  40’000 Euro (forty thousand Euro) upon successful completion of the
  Milestone 2 of the Attachment A and delivery of the related report; 

  
	
  10’000 Euro (ten thousand Euro) upon successful completion of the Milestone
  3 of the Attachment A and delivery of the related report; 

Page 13 of 14

Attachment C 

Payments for patented products

Should THERAPEOMIC’s work under this Agreement result in one or
more inventions, which will be patented by IMVISION, IMVISION agrees to pay the
two payments to THERAPEOMIC as stated below: 

	Payment 
No. 	Amount 
	Milestone 

	1. 	100’000 Euro 	
      Completed submissions by IMVISION of the first new drug
      application in US, Switzerland, UK, Germany, Spain, Italy, France or any
      other EU country for a Patent Protected Pharmaceutical Product. 
With
      “Patent Protected Pharmaceutical Product” shall mean a pharmaceutical
      product which is covered by a patent (i) which patent is the direct result
      of an invention made by THERAPEOMIC under this Agreement, (ii) which
      patent is granted to and owned by IMVISION, and (iii) which pharmaceutical
      product represents a dosage form or indication which is new compared to
      other products which exist on the market at the time of submission of the
      NDA. 

	2. 	200’000 Euro 	
      The above mentioned NDA for US has been approved and/or
      IMVISION (or its licensee) has obtained marketing authorizations for the
      Patent Protected Pharmaceutical Product in one European Union county. By a
      Product is meant new dosage form or new indication.

For the avoidance of doubt it is clarified that IMVISION’s
obligation to pay the Two payments to THERAPEOMIC under this Agreement shall in
total never exceed an amount corresponding to No. 1 plus No. 2, i.e. 300’000
Euro (three hundred thousand Euro), although IMVISION may submit a number of new
drug applications for more than one Patent Protected Pharmaceutical Product or
although IMVISION may obtain marketing authorizations for more than one Patent
Protected Pharmaceutical Product. 

Page 14 of 14Filed by Automated Filing Services Inc. (604) 609-0244 - ImVisioN Therapeutics Inc. - Exhibit 1.17

EXHIBIT 10.17 

Consultancy Agreement 

 

 

Between

 

ImVisioN GmbH,
located at
Feodor-Lynen-Str. 5, 30625 Hannover, Germany 

- hereinafter referred as "ImVisioN"-, 

and 

Productomics AG, 
located at
Promenade 132A, 7260 Davos, Switzerland 

- hereinafter referred as "Consultant" -. 

WHEREAS, ImVisioN is a biotechnology company focused on the
development of immuno-therapeutics based on its proprietary MAT
(Modular-Antigen-Transporter Molecules) technology platform to treat allergic
diseases. 

WHEREAS, Consultant is a biotechnology company with know-how
and expertise focused on molecular biology and molecular allergology. 

WHEREAS, ImVisioN desires to engage the services of Consultant
as an independent consultant to assist ImVisioN, and Consultant desires to be so
engaged. 

NOW, THEREFORE in consideration of the above facts and the
mutual promises set forth in this Agreement, the parties agree as follows: 

	1. 	
      Appointment

	 	 
		
      ImVisioN hereby appoints Consultant to act as independent
      business consultant to assist ImVisioN with the development of
      immuno-therapeutics based on its proprietary MAT technology platform to
      treat allergic diseases in accordance with the terms of this Agreement.
      Consultant hereby accepts such appointment.

	 	 
	2. 	
      Scope of Services

	 	 
	2.1 	
      Consultant represented by Prof. Dr. Reto Crameri shall
      assist ImVisioN by providing support with regard to the construction and
      expression of recombinant MAT-based product candidates as
      immuno-therapeutics. Consultant agrees to render the services under the
      terms and conditions set forth in this Agreement. Consultant agrees to
      complete the services under this Agreement in a satisfactory
  manner.

	 	 
	2.2 	
      The advice of Consultant shall be supplied orally to the
      Management of ImVisioN and upon request of ImVisioN, the Consultant will
      submit written reports on specific issues.

	 	 
	2.3 	
      Consultant shall have no power of attorney for ImVisioN.
      In particular, he shall not be entitled to or undertake any encashments
      for ImVisioN. Consultant shall not and under no circumstance act on behalf
      of ImVisioN. Consultant shall clearly communicate to any third party
      contacted in his function as consultant to ImVisioN his legal status in
      relation to ImVisioN.

	 	 
	2.4 	
      Consultant shall provide consulting services of up to 4
      (four) days per months to the Company. Any additional consulting services
      shall be mutually agreed by the parties.

	 	 
	3. 	
      Information duties

	 	 
	3.1 	
      Consultant shall regularly keep ImVisioN informed as to
      the progress and status of Consultant’s activities under this
      Agreement.

	 	 
	3.2 	
      ImVisioN shall provide Consultant with all relevant
      information, documents and support required for the performance of
      Consultant’s services.

	4. 	
      Fees

	 	 
	4.1 	
      As a payment for the services under this Agreement,
      Consultant shall be entitled to a monthly consulting fee of € 4.000 (four
      thousand) (plus VAT, if applicable).

	 	 
		
      This monthly consulting fee shall compensate the
      Consultant for consulting services of up to 4 (four) days per calendar
      month. In case the services requested by ImVisioN and provided by
      Consultant exceed 4 (four) days for a calendar month over a period of 6
      (six) consecutive calendar months, the Consultant shall receive an extra
      consulting fee of € 1.000 (one thousand) (plus VAT, if applicable) per
      consulting day for every consulting day exceeding 4 (four) days per month.
      In such case, Consultant shall submit to ImVisioN an invoice for such
      extra consulting services. Except as set forth in this Agreement,
      Consultant shall not be entitled to any other compensation or benefits for
      his services to ImVisioN.

	 	 
	4.2 	
      Reasonable travel costs, costs for accommodation, meal
      costs and other expenses which the Consultant incurs in performing his
      consultancy services under this Agreement shall be reimbursed by ImVisioN
      after submission of an expense report with corresponding bills at the end
      of each calendar month.

	 	 
	4.3 	
      Any and all tax liabilities, social security charges or
      levies of a similar nature arising out of or in connection with the
      Consultant’s services to ImVisioN hereunder shall be borne exclusively by
      the Consultant.

	 	 
	5. 	
      Competition

	 	 
		
      Consultant represents to ImVisioN that Consultant is not
      a party to any agreement to provide consulting services to any other
      party, firm, or company on matters relating to the development of
      immuno-therapeutics for the treatment of allergic diseases. During the
      term of this Agreement, the Consultant shall not consult with any entity
      in the pharmaceutical industry other than the Company on matters relating
      to the development of allergen-based immuno-therapeutics to treat allergic
      diseases.

	 	 
	6. 	
      Confidential Information

	 	 
	6.1 	
      In consideration of, and reliance upon, the covenants of
      Consultant and ImVisioN herein contained, the parties have or will
      disclose to each other certain information (hereinafter referred to as
      "Confidential Information"), including, without limitation,
      information concerning future or proposed products, financial performance
      and projections, customers, employees, contracts, strategic relationships,
      marketing plans and business plans and other information. All documents,
      disclosures and written or oral statements disclosed by a party (the
      "Disclosing Party") to the other party (the "Receiving
      Party") shall be deemed "Confidential Information" if clearly marked
      so. Except as provided herein, "Confidential Information" shall include,
      without limitation, proprietary, technical, marketing, operating,
      performance, cost, business pricing policies, programs, inventions,
      discoveries, trade secrets, techniques, processes, source code, unlinked
      object modules, computer programming techniques, and all
  record

		
      bearing media containing or disclosing such information
      and techniques disclosed pursuant to this Agreement.

	 	 	 
		
      The Agreement itself and its content, as well as the
      identity of the parties shall be considered Confidential Information as
      well.

	 	 	 
	6.2 	
      The obligations of this Agreement hereof shall not apply
      to any information if:

	 	 	 
		a) 	
      it was in the public domain at the time of communication
      to the Receiving Party or is later placed in the public domain by the
      Disclosing Party;

	 	 	 
		b) 	
      it entered the public domain through no fault of the
      Receiving Party subsequent to the time of disclosure hereunder to the
      Receiving Party;

	 	 	 
		c) 	
      it was in the Receiving Party's possession free of any
      obligation of confidence prior to disclosure hereunder.

	 	 	 
	6.3 	
      a) 
	
      The Receiving Party shall not disclose, publish or
      communicate the Confidential Information to any third party without the
      prior written consent of the Disclosing Party.

	 	 	 
		b) 	
      The Receiving Party shall not use the Confidential
      Information nor circulate it within its own organisation except to the
      extent necessary or desirable for negotiations, discussions and
      consultations with personnel or authorized representatives of the parties,
      relating to the purposes of this Agreement.

	 	 	 
		c) 	
      The Receiving Party shall use its best efforts to prevent
      inadvertent disclosure of the Confidential Information to unauthorized
      personnel or to any other third party, including establishing and
      monitoring internal procedures regarding the Confidential Information
      which are at least as protective as the protection the Receiving Party
      affords its own Confidential Information. The Receiving Party shall
      immediately notify the Disclosing Party if the Confidential Information is
      used, distributed, or communicated in a manner not authorized under this
      Agreement.

	 	 	 
		d) 	
      Upon demand or, if not otherwise demanded, upon the
      termination of such project or purposes, the Confidential Information and
      all copies thereof and notes made therefrom shall be immediately destroyed
      by the Receiving Party or returned to the Disclosing Party. If destroyed,
      the Receiving Party shall certify in writing to the Disclosing Party that
      all such information, including all copies, has been
  destroyed.

	7. 	
      Intellectual Property

	 	 
		
      Intellectual property invented, created, written,
      developed, or produced as a result of Consultant's consulting services to
      ImVisioN pursuant to this Agreement, whether produced by the Consultant or
      any of its/his employees or agents while working for ImVisioN under this
      Agreement, is and shall be the sole property of ImVisioN. "Intellectual
      Property" includes any inventions, patents, trademarks, copyrights,
      software programs or developments or enhancements, ideas, creations,
      articles and any similar property. Consultant shall promptly
  provide

		
      ImVisioN, whether during or after the term of this
      Agreement, with those documents and signatures reasonably required by
      ImVisioN to vest ownership of the Intellectual Property in ImVisioN, and
      Consultant agrees to take any and all action reasonably necessary to vest
      such ownership in ImVisioN. ImVisioN alone has the right to use, sell,
      patent or license its Intellectual Property.

	 	 
	8. 	
      Term, Termination

	 	 
		
      This Consultancy Agreement shall become effective at the
      beginning of the month following the transfer of 100 % of the shares of
      ImVisioN to Nextech Ventures LP and shall be concluded for an indefinite
      period of time, provided, however, that this Agreement may be regularly
      terminated by either party on one month’s notice with effect to the end of
      a calendar month. The right to terminate this Consultancy Agreement
      without prior notice for serious reasons remains unaffected for both
      parties. Termination of this Agreement must be made in writing. ImVisioN
      shall inform the Consultant as soon as its shares have been transferred in
      accordance with the first sentence above.

	 	 
	9. 	
      Assignment

	 	 
		
      This Agreement is personal to the Consultant and he shall
      not be entitled to assign, delegate or subcontract his obligations
      hereunder to any third party without prior written consent of
    ImVisioN.

	 	 
	10. 	
      Miscellaneous

	 	 
	10.1 	
      This Agreement contains the whole agreement between the
      parties relating to the subject matter of this Agreement at the date
      hereof. Any change or amendment to this Agreement requires written consent
      of the parties, including the amendment of this subsection.

	 	 
	10.2 	
      In the event that a provision or a part of a provision of
      this Agreement should be or become ineffective, this shall not affect the
      validity of the other provisions of this Agreement and of the Agreement on
      the whole. The parties hereby agree to replace the ineffective provision
      by an effective provision, representing the parties intention at the time
      of conclusion of this contract. The same shall apply in case of a gap
      within this Agreement.

	 	 
	10.3 	
      This Agreement shall be governed by and construed in
      accordance with the laws of the Federal Republic of Germany, without
      regard to its conflict of law provisions

	 	Davos, 16.03.2005 	Hannover, 31.03.2005 	  
	 	Productomics AG 	ImVisioN GmbH 	  
	 	/s/ iur. Hj. Kistler 	/s/ Martin Steiner 	/s/ H. Rose 
	 	Dr. iur. Hj. Kistler 	Dr. M. Steiner, CEO 	Dr. H. Rose, COO

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