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  Exhibit 10.48    
    

  

 
 

  Memorandum of Agreement    
    

 

 

			
	DATE:	 	December 6, 2005
	
TO:	
 	
Nick Vahanian, Chief Medical & Operations Officer

NewLink Genetics Corporation

2901 S. Loop Drive, Suite 3900

Ames, IA 50010
	
FROM:	
 	
Steven T. Carter, President
	
RE:	
 	
ADDENDUM TO THE LEASE BETWEEN ISU RESEARCH PARK CORPORATION AND NEWLINK GENETICS CORPORATION DATED FEBRUARY 1, 2001.

 

         The
following information constitutes additions to the Lease Agreement between ISU Research Park Corporation (Landlord) and NewLink Genetics Corporation (Tenant). Upon signatures of
appropriate representatives of Landlord and Tenant affixed to this Memorandum, this Memorandum becomes a part of that Lease Agreement dated February 1, 2001. 

        Landlord
agrees to lease to Tenant Suites 3540 & 3550 (containing ±1,439 gsf) in Building #3 at 2901 South Loop Drive, in the following manner: 

 

 

																
	Term

 
	 	Sq. Ft.

Base

Rents 	 	Sq. Ft.

Operating

Rents 	 	Monthly

Base

Rents 	 	Monthly

Operating

Rents 	 	Annual

Base

Rents 	 	Annual

Operating

Rents 
	 01/01/2006 - 12/31/2008
	 	$	12.50	 	Actual	 	$	1,498.96	 	Actual	 	$	17,987.52	 	Actual

 

         Gas
and water usage, as well as utility costs for the HVAC system, will be prorated and invoiced monthly. Electricity is metered separately and will also be prorated and invoiced
monthly. 

 

        Tenant
leases the space as is. Any modifications will be at the Tenant's sole expense. Subject to the terms of this Memorandum, Tenant agrees that all terms and conditions of the
February 1, 2001 Lease and those described in this Memorandum shall remain in force. Landlord agrees to release Tenant from this lease obligation upon Tenant's move into a larger facility at
the ISU Research Park. 

        Please
sign and return both originals to my office by December 7, 2005 if you concur with the above terms. We will then send a fully executed copy for your records. 

AGREED 

 

 

			
	FOR

NewLink Genetics Corporation	 	FOR

ISU Research Park Corporation
	
 /s/ Nicholas Vahanian

 	
 	
/s/Steven Carter

 
	
 Chief Medical & Operations Officer

  Title	
 	
Director

  Title
	
 12/14/05

  Date	
 	
12/14/05

  Date

 

 2

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Exhibit 10.48

Memorandum of AgreementQuickLinks
 -- Click here to rapidly navigate through this document

 

 
 

  Exhibit 10.49    
    

  

 
 

  Memorandum of Agreement    
    

 

 

			
	DATE:	 	April 13, 2006
	
 TO:	
 	
Nick Vahanian, Chief Medical & Operations Officer

NewLink Genetics Corporation

2901 S. Loop Drive, Suite 3900

Ames, IA 50010
	
 FROM:	
 	
Steven T. Carter, President
	
 RE:	
 	
ADDENDUM TO THE LEASE BETWEEN ISU RESEARCH PARK CORPORATION AND NEWLINK GENETICS CORPORATION DATED FEBRUARY 1, 2001.

 

         The
following information constitutes additions to the Lease Agreement between ISU Research Park Corporation (Landlord) and NewLink Genetics Corporation (Tenant). Upon signatures of
appropriate representatives of Landlord and Tenant affixed to this Memorandum, this Memorandum becomes a part of that Lease Agreement dated February 1, 2001. 

        Landlord
agrees to extend the Lease Agreement for Suites 3350 (containing ±1,038 gsf) and 3600 (containing ±1,325 gsf)
and for Suite 3900 (containing ±3,147 gsf) in Building #3 at 2901 South Loop Drive, beginning May 1, 2006, in the following manner: 

 

 

																
	Term

 
	 	Sq. Ft.

Base

Rents 	 	Sq. Ft.

Operating

Rents 	 	Monthly

Base

Rents 	 	Monthly

Operating

Rents 	 	Annual

Base

Rents 	 	Annual

Operating

Rents 
	 

 Suites 3350 & 3600 (containing ±2,363 gsf)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 5/1/2006 - 4/30/2007
	 	$	12.00	 	Actual	 	$	2,363.00	 	Actual	 	$	28,356.00	 	Actual
	 

 Suite 3900 (containing ±3,147 gsf)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 5/1/2006 - 4/30/2007
	 	$	12.75	 	Actual	 	$	3,343.69	 	Actual	 	$	40,124.28	 	Actual

 

 

 

        Landlord
agrees to lease to Tenant Suite 3560 (containing ±701 gsf) in Building #3 at 2901 South Loop Drive, beginning May 15, 2006 in the
following manner: 

 

 

																
	Term

 
	 	Sq. Ft.

Base

Rents 	 	Sq. Ft.

Operating

Rents 	 	Monthly

Base

Rents 	 	Monthly

Operating

Rents 	 	Annual

Base

Rents 	 	Annual

Operating

Rents 
	 5/15/2006 - 4/30/2007
	 	$	12.00	 	Actual	 	$	701.00	 	Actual	 	$	8,412.00	 	Actual

 

         Gas
and water usage, as well as utility costs for the HVAC system, will be prorated and invoiced monthly. Electricity is metered separately and will be invoiced directly from the
provider. Tenant is responsible for ensuring that the invoice is sent directly to them. (The electrical meter for Suite 3560 also covers Suites 3540 and 3550 which Tenant is currently leasing.) 

        Tenant
leases the space as is. Any modifications will be at the Tenant's sole expense. Landlord agrees to release Tenant from this lease obligation upon Tenant's move into a larger
facility at the ISU
Research Park. Subject to the terms of this Memorandum, Tenant agrees that all terms and conditions of the February 1, 2001 Lease and those described in this Memorandum shall remain in force. 

        Please
sign and return both originals to my office by April 18, 2006 if you concur with the above terms. We will then send a fully executed copy for your records. 

AGREED

 

 

			
	FOR

NewLink Genetics Corporation	 	FOR

ISU Research Park Corporation
	
 /s/ Nicholas Vahanian

 	
 	
/s/ Steven T. Carter

 
	
 Chief Medical & Operations Officer

  Title	
 	
Director

  Title
	
 4/21/06

  Date	
 	
4/21/06

  Date

 

 2

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Exhibit 10.49

Memorandum of AgreementQuickLinks
 -- Click here to rapidly navigate through this document

 

 
 

  Exhibit 10.50    
    

  

 
 

  Memorandum of Agreement    
    

 

 

			
	DATE:	 	February 20, 2008
	
 TO:	
 	
Carl Langren

NewLink Genetics Corporation

2901 S. Loop Drive, Suite 3900

Ames, IA 50010
	
 FROM:	
 	
Steven T. Carter, President
	
 RE:	
 	
ADDENDUM TO THE LEASE BETWEEN ISU RESEARCH PARK CORPORATION AND NEWLINK GENETICS CORPORATION DATED FEBRUARY 1, 2001.

 

         The
following information constitutes additions to the Lease Agreement between ISU Research Park Corporation (Landlord) and NewLink Genetics Corporation (Tenant). Upon signatures of
appropriate representatives of Landlord and Tenant affixed to this Memorandum, this Memorandum becomes a part of that Lease Agreement dated February 1, 2001. 

        Landlord
agrees to extend the Lease Agreement for Suites 3350 (containing ±1,038 gsf), 3560 (containing ±701 gsf), and
3600 (containing ±1,325 gsf) and for Suite 3900 (containing ±3,147 gsf) in Building #3 at 2901 South Loop Drive, beginning
March 1, 2008, in the following manner: 

 

 

																
	Term

 
	 	Sq. Ft.

Base

Rents 	 	Sq. Ft.

Operating

Rents 	 	Monthly

Base

Rents 	 	Monthly

Operating

Rents 	 	Annual

Base

Rents 	 	Annual

Operating

Rents 
	 

 Suites 3350, 3560 & 3600 (containing ±3,064 gsf)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 3/1/2008 - 6/30/2009
	 	$	12.00	 	Actual	 	$	3,064.00	 	Actual	 	$	36,768.00	 	Actual
	 

 Suite 3900 (containing ±3,147 gsf)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 3/1/2008 - 6/30/2009
	 	$	12.75	 	Actual	 	$	3,343.69	 	Actual	 	$	40,124.28	 	Actual
	 

 Suites 3540 & 3550 (containing ±1,439 gsf)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 1/1/2009 - 6/30/2009
	 	$	12.50	 	Actual	 	$	1,498.96	 	Actual	 	$	17,987.52	 	Actual

 

 

 

        Tenant
leases the space as is. Any modifications will be at the Tenant's sole expense. Landlord agrees to release Tenant from this lease obligation upon Tenant's move into a larger
facility at the ISU Research Park. Subject to the terms of this Memorandum, Tenant agrees that all terms and conditions of the February 1, 2001 Lease and those described in this Memorandum
shall remain in force. 

        Please
sign and return both originals to my office by February 25, 2008 if you concur with the above terms. We will then send a fully executed copy for your records. 

AGREED

 

 

			
	FOR

NewLink Genetics Corporation	 	FOR

ISU Research Park Corporation
	
 /s/ Carl Langren

 	
 	
/s/ Steven T. Carter

 
	
 Controller

  Title	
 	
President

  Title
	
 2/21/08

  Date	
 	
2/21/08

  Date

 

 2

QuickLinks

Exhibit 10.50

Memorandum of AgreementQuickLinks
 -- Click here to rapidly navigate through this document

 

 
 

  Exhibit 10.51    
    

  

 
 

  Memorandum of Agreement    
    

 

 

			
	DATE:	 	May 1, 2009
	
 TO:	
 	
Carl Langren

NewLink Genetics Corporation

2901 S. Loop Drive, Suite 3900

Ames, IA 50010
	
 FROM:	
 	
Steven T. Carter, President
	
 RE:	
 	
ADDENDUM TO THE LEASE BETWEEN ISU RESEARCH PARK CORPORATION AND NEWLINK GENETICS CORPORATION DATED FEBRUARY 1, 2001.

 

         The
following information constitutes additions to the Lease Agreement between ISU Research Park Corporation (Landlord) and NewLink Genetics Corporation (Tenant). Upon signatures of
appropriate representatives of Landlord and Tenant affixed to this Memorandum, this Memorandum becomes a part of that Lease Agreement dated February 1, 2001. 

        Landlord
agrees to extend the Lease Agreement for Suites 3350 (containing ±1,038 gsf), 3560 (containing
±701 gsf), and 3600 (containing ±1,325 gsf), for Suite 3900 (containing
±3,147 gsf), and for Suites 3540 & 3550 (±1,439 gsf) in Building #3 at 2901 South Loop Drive, beginning
July 1, 2009, in the following manner: 

 

 

																	
	Term

 
	 	Sq. Ft.

Base

Rents 	 	Sq. Ft.

Operating

Rents 	 	Monthly

Base

Rents 	 	Monthly

Operating

Rents 	 	Annual

Base

Rents 	 	Annual

Operating

Rents 
	 Suites 3350, 3560 & 3600 (containing ±3,064 gsf)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 7/1/2009 - 6/30/2010
	 	$	12.00	 	Actual	 	$	3,064.00	 	Actual	 	$	36,768.00	 	Actual
	 Suite 3900 (containing ±3,147 gsf)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 7/1/2009 - 6/30/2010
	 	$	12.75	 	Actual	 	$	3,343.69	 	Actual	 	$	40,124.28	 	Actual
	 Suites 3540 & 3550 (containing ±1,439 gsf)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 7/1/2009 - 6/30/2010
	 	$	12.50	 	Actual	 	$	1,498.96	 	Actual	 	$	17,987.52	 	Actual

 

         Tenant
leases the space as is. Any modifications will be at the Tenant's sole expense. Landlord agrees to release Tenant from this lease obligation upon Tenant's move into a larger
facility at the ISU Research Park. Subject to the terms of this Memorandum, Tenant agrees that all terms and conditions of the February 1, 2001 Lease and those described in this Memorandum
shall remain in force. 

 

        Please
sign and return both originals to my office by May 8, 2009 if you concur with the above terms. We will then send a fully executed copy for your records. 

 

 

			
	AGREED
	
 FOR

NewLink Genetics Corporation	
 	
FOR

ISU Research Park Corporation
	
 /s/ Nicholas Vahanian

 	
 	
/s/ Steven T. Carter

 
	
 Chief Operating Officer

  Title	
 	
Director

  Title
	
 5/19/09

  Date	
 	
5/20/09

  Date

 

 2

QuickLinks

Exhibit 10.51

Memorandum of Agreement

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