Document:

Termination Agreement, dated October 19, 2006

 Exhibit 10.2 
 TERMINATION AGREEMENT 
 AGREEMENT, dated as of October 19, 2006, between INTEREP NATIONAL RADIO
SALES, INC., New York corporation (the “Company”), and GEORGE E. PINE (“Pine”). 
 W I
T N E S S E T H: 
 WHEREAS, Pine has served the Company as a member of its Board of
Directors and, pursuant to an Employment Agreement, dated as of March 19, 2003 (as amended by Amendment No. 1 thereto, dated as of May 10, 2006, the “Employment Agreement”), as its President and Chief Operating Officer;

 WHEREAS, the Company and Pine wish to set forth their agreement as to the termination of Pine’s employment; 
 NOW, THEREFORE, in consideration of the premises and of the mutual agreements set forth herein, the parties agree as follows: 
 1. Resignation and Termination of Employment. Effective as of the date of this Agreement (except as provided in Section 2(a)), Pine’s
employment with the Company shall terminate and Pine shall resign from the offices of President and Chief Operating Officer, and from all offices and directorships that he holds with any of the Company’s subsidiaries or affiliates. Concurrently
with the execution of this Agreement, Pine has delivered to the Company a signed letter of resignation to such effect. 
 2. Payments.

 (a) The period beginning on September 1, 2006 and ending on May 31, 2009 is referred to as the “Term”. During the
Term, the Company shall pay Pine severance compensation, as follows: (i) $615,000 during the first 12 months of the Term, of which $120,000 is being paid on the date of this Agreement, (ii) $495,000 during the second 12 months of the Term
and (iii) $375,000 during the last nine months of the Term, in each case less applicable federal and state withholdings. Subject to the provisions of Section 2(b), the Company shall pay such compensation in equal semi-monthly installments.
All of the compensation referred to in this Section 2 shall be paid to Pine by direct deposit to such account as Pine shall designate to the Company. In consideration of the Company’s payment of such consulting and severance compensation,
Pine waives and forever forfeits any payments otherwise payable to him under the Employment Agreement as salary, bonus, severance compensation or otherwise. 
 (b) If a Change in Control (as defined in Section 2(c)) occurs, Pine or his personal representative (should he die or become incompetent during the Term) shall have the right to require the Company, at any time
during the Term, and on not less than 30 days’ written notice to the Company, to pay to Pine, his designee or his estate or heirs an amount equal to all of the remaining severance compensation and consulting fees payable to him during the then
remainder of the Term, discounted at the Discount Rate (as defined below) to its present value as of the date of such notice (the “Notice Date”). The Company shall pay such amount to Pine in a lump sum not later than 30 days after the
Notice Date. “Discount Rate” means the yield to maturity, as determined on the Notice Date, on U.S. Treasury obligations having a maturity date then as near as possible to the last day of the Term. 

 (c) For purposes of this Section 2, “Change in Control”, means the occurrence of any of
the following events: 
 (i) any “person,” including a “group” (as such terms are used in Sections 13(d)
and 14(d)(2) of the Securities Exchange Act of 1934 (the “Exchange Act”), but excluding the Company, its “Affiliates” (that is, any of its subsidiaries or any parent corporation), or any employee benefit plan or employees of the
Company or any of its Affiliates, or any group of which any of the foregoing is a member, is or becomes the “beneficial owner” (as defined in Rule 13(d)(3) under the Exchange Act), directly or indirectly, of the Company’s securities
representing 30% or more of the combined voting power of its then outstanding securities; 
 (ii) during any period of 24
consecutive months, individuals (A) who on the date of this Agreement constitute the Company’s entire Board of Directors (“Initial Directors”) or (B) whose election, appointment or nomination for election was approved prior
to such election or appointment by a vote of at least two-thirds of the Initial Directors who were in office immediately prior to such election or appointment, cease for any reason to constitute at least a majority of the Company’s Board of
Directors; 
 (iii) the consummation of a merger, business combination, share exchange, division or other reorganization of
the Company with any other corporation, where, following such transaction, (A) a majority of the directors of the surviving entity are persons who (I) were not members of the Company’s Board of Directors immediately prior to the
merger or other combination and (II) are not the Company’s nominees or representatives, (B) the Company’s shareholders immediately prior to such merger or combination beneficially own, directly or indirectly, less than 60% or more of
the combined voting power of the surviving corporation, as well as 60% or more of the total market value of its outstanding equity securities, in substantially the same proportion as they owned the combined voting power of the Company, (C) any
“person,” including a “group” (each as defined in clause (i) above), but excluding the Company, its Affiliates, or any of the Company’s or its Affiliates’ employee benefit plans or employees, or any group of which
any of the foregoing is a member, is or becomes the “beneficial owner” (as defined in Rule 13(d)(3) under the Exchange Act), directly or indirectly, of securities representing 30% or more of the combined voting power of the surviving
corporation or (D) in the case of a division, the Company’s shareholders immediately prior to such division beneficially own, directly or indirectly, less than 60% or more of the combined voting power of the outstanding voting securities
of each entity resulting from the division as well as 60% or more of the total market value of each such entity’s outstanding equity securities, in each case in substantially the same proportion as such shareholders owned shares of the Company
prior to such transaction; 
  

 -2- 

 (iv) the consummation of a direct or indirect sale or other disposition of all or
substantially all of the Company’s assets; 
 (v) the Company’s adoption of any plan of liquidation providing for
the distribution of all or substantially all of its assets; 
 (vi) any other change in control of the Company of a nature
that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A under the Exchange Act; or 
 (vii) any other event or transaction that is declared by resolution of the Company’s Board of Directors to be a Change in Control. 
 3. Plan Coverage. From and after August 31, 2006 and until the earlier of May 31, 2009 or such time as another employer makes available to Pine medical and dental coverage comparable to that which the Company currently
provides to Pine, the Company shall provide, under COBRA during the last 18 months of the Term and at its expense during all of the Term, medical and dental coverage for Pine under, and subject to the terms and conditions of, such group insurance
plans as the Company now and in the future makes available generally for its employees. Nothing in this Section 3 shall be construed to require the Company to institute or maintain any or any particular benefit plan, program or policy. If and
to the extent that this Section 3 conflicts with any COBRA notice or other document issued by the Company at any time, the provisions of this Section 3 shall prevail. 
 4. Certain Expenses. Promptly after the date of this Agreement, the Company shall reimburse Pine for his reasonable travel, lodging and
entertainment expenses incurred by him prior to the date hereof in connection with the business of the Company, in accordance with the Company’s policies and procedures. Pine may retain the company cell phone, lap top and Blackberry that he has
been using and the Company shall continue to pay all related charges through January 15, 2007; provided, however, that Pine shall have access to, and use of, the Company’s e mail and voice mail through January 15, 2007 and
shall otherwise have no access to the Company’s networks, systems or data through such equipment on and after the date of this Agreement. 
 5. Other Benefit Plans. Pine shall be entitled to receive all rights, distributions and benefits which have accrued or shall accrue to him under the Company’s Stock Growth Plan and 401-K Plan, in accordance with the terms of
such benefit plans. On and after the date of this Agreement, the Company shall not make any further contributions to any such benefit plan for Pine’s account and all his benefit plan accounts shall be frozen with a review to roll over or
termination. The Company shall use its best efforts to insure that all transfers of securities or accounts and payments of cash contemplated in the preceding sentence are made as promptly as is practicable, consistent with the terms and procedures
of such benefit plans. On and after the date of this Agreement, the Company shall not make any further contributions to any such benefit plan for Pine’s account and all his benefit plan accounts shall be frozen with a view to roll-over or
termination. 
  

 -3- 

 6. Options. The stock options held by Pine to purchase an aggregate of 107,240 shares of Interep
Common Stock shall remain exercisable on and after the date of this Agreement, for the respective full terms thereof as stated in the related option agreements and otherwise in accordance with their terms. 
 7. Automobile Allowance. The Company shall continue to provide Pine with the use of the automobile it currently leases for him through the end of
the current lease on the same terms and conditions that are currently applicable. 
 8. Statements. In any written or oral discussion
or disclosure by Pine or the Company regarding the termination of Pine’s employment with the Company, Pine and the Company shall each characterize such termination as amicable and in a manner consistent with the contents of this Agreement.
Further, Pine shall not denigrate or disparage the Company or any of its subsidiaries or divisions or the businesses, services, officers, directors, employees, agents or shareholders of any of them, or take any action which would tend to cast any of
them into disrepute. Similarly, the Company shall not denigrate or disparage Pine or take any action which would tend to cast him into disrepute. Pine shall maintain the existence and terms of this Agreement in confidence at all times on and after
the date hereof; provided, however, that the foregoing shall not restrict him from making any disclosure about the existence and terms of this Agreement as may be required by applicable law or from testifying truthfully pursuant to a valid
subpoena issued by any court or regulatory body having competent jurisdiction or otherwise. 
 9. Confidentiality. At all times on and
after the date of this Agreement, Pine shall not disclose to any party or use any information respecting the Company or its business and affairs which is treated as confidential by the Company, including, without limitation, trade secrets, business
and marketing plans and information, financial data, commission rate information, identity of actual or prospective clients and customers and salary or bonus information relating to any of the Company’s employees; provided, however, that
such obligation shall not apply to any information (i) to the extent that it is or becomes part of public or industry knowledge from authorized sources other than Pine or (ii) which Pine is required by law to disclose (but only to the
extent required to be so disclosed); and provided, further, that Pine may disclose this Agreement and its terms to his or its accountants, tax advisors and legal counsel, provided that any such third party has been informed of, and has agreed
to abide by, this confidentiality provision. On or before the date of this Agreement, Pine shall deliver to the Company all material of a confidential nature (whether or not marked as such), including, without limitation, business plans, budgets,
financial statements or projections, commission rate schedules, manuals, letters, notes, notebooks, reports and customer and supplier lists, and all copies or summaries thereof, relating to the business or affairs of the Company and its subsidiaries
that are in Pine’s possession or control. 
 10. Non-Competition. In consideration of the payments and accommodations to be made
to Pine pursuant to this Agreement, Pine agrees that, during the Term, and so long as the Company is not in breach of its obligations under this Agreement, he shall not, anywhere in the United States of America (or for such lesser area or such
lesser period as may be determined by a court of competent jurisdiction to be a reasonable limitation on the competitive activity of Pine), directly or indirectly: 
 (a) act as an officer, director, employee, agent, consultant or in any other capacity for Katz Media Corporation or any of its subsidiaries, parents or affiliates (together, “Katz”); 
  

 -4- 

 (b) engage in any terrestrial or satellite radio or broadcast, cable or satellite television or Internet
national sales representation business (“Representation Business”, which shall not include any representation business other than national sales) in which the Company is then engaged on behalf of himself or any third party, including any
representation firm or radio or television group; 
 (c) solicit or attempt to solicit Representation Business on behalf of himself or any
third party from any parties who are clients or customers of the Company; or to which the Company has made specific proposals for services, during the 12 months prior to the date of this Agreement and with respect to which Pine either
(i) possesses confidential information of the Company or (ii) Pine was directly involved as to solicitation, negotiation or servicing of contracts; 
 (d) solicit or attempt to solicit for any business endeavor any employee of the Company; 
 (e) interfere
with the Company or the conduct of its Representation Business or otherwise divert or attempt to divert from Interep any business whatsoever; or 
 (f) render any services as a joint venturer, partner, consultant or otherwise to, or have any interest as a stockholder, partner, lender or otherwise in, any person or entity which is engaged in activities which, if performed by Pine, would
violate this Section 10. 
 The foregoing provisions of this Section 10 shall not prevent Pine from (i) purchasing or owning up to 5% of the
voting securities of any corporation, the securities of which are publicly-traded or (ii) owning or operating radio stations. With respect to clause (b) of this Section 10, if Pine is employed by a group (including a radio station
group) or other entity that is not involved in national sales representation, he shall not be in breach of clause (b), regardless of the medium involved, but if such group or other entity commences national representation during the period in which
clause (a) is in effect, Pine shall immediately terminate his employment therewith and shall not become re-employed with such group or other entity until such period has expired. 
 11. Remedies and Survival. Because the Company would not have an adequate remedy at law to protect its business from unfair competition and its
interest in its trade secrets, proprietary or confidential information or similar commercial assets should Pine breach any provision of Sections 8, 9 or 10, the Company shall be entitled, in the event of such a breach or threatened breach thereof by
Pine, to injunctive relief, in addition to such other remedies and relief that would be available to the Company. The prevailing party in any litigation to enforce rights under Sections 8, 9 or 10 shall be entitled to receive from the other payment
of, or reimbursement for, its reasonable attorneys’ fees and disbursements incurred in such connection, up to a maximum of $100,000. If Pine is the prevailing party in any litigation, he shall be entitled to reimbursement of his reasonable
attorneys fees and disbursements by the Company, up to a maximum of $100,000. The provisions of Sections 8, 9 and 10 and of this Section 11 shall survive any termination of this Agreement. 
  

 -5- 

 12. Termination of Prior Agreements. On the date of this Agreement, the Employment Agreement and
any other agreements and understandings between the Company and Pine relating to his employment, other than this Agreement, the benefit plans and options referred to in Sections 5 and 6 of this Agreement and the Indemnification Agreement between the
parties (together, the “Surviving Agreements”), shall terminate and be of no further force or effect; provided, however, that any rights to indemnification, defense and insurance in favor of Pine arising under the Restated
Certificate of Incorporation or By-Laws of the Company, shall continue in full force and effect. Pine shall continue to be covered under such directors and officers liability insurance policies as the Company maintains for its directors so long as
he is eligible to be covered under such policies in accordance with the terms thereof. 
 13. Releases. 
 (a) Pine, in consideration of good and valuable consideration received and to be received from the Company hereunder, the sufficiency of which is
acknowledged, releases and discharges the Company, its subsidiaries and affiliates and its and their respective officers, directors, shareholders, employees, agents, attorneys and affiliates and its and their respective heirs, personal
representatives, successors and assigns (together, the “Company Releasees”), of and from all claims, demands, causes of action, suits, actions, proceedings, judgments, debts, damages, liabilities and obligations, at law, equity or
otherwise, including, without limitation, any federal, state, local or administrative Equal Employment Opportunity or other claims arising under the Civil Rights Acts of 1866, 1870 and 1871, the Equal Pay Act of 1963, Title VII of the Civil Rights
Act of 1964, as amended, the Age Discrimination in Employment Act of 1967, as amended, the Older Workers Benefits Protection Act, the Civil Rights Act of 1968, the Rehabilitation Act of 1973, the Vietnam-Era Veterans’ Readjustment Assistance
Act of 1974, the Veteran’s Reemployment Rights Act, the Immigration Reform and Control Act, the Americans with Disabilities Act of 1990, the Civil Rights Act of 1991, the Family and Medical Leave Act, the Worker Adjustment and Retraining
Notification Act, the Employee Retirement Income Security Act of 1974, as amended, the Fair Labor Standards Act, the New York Executive Law, the New York State Human Rights Law, New York Civil Rights Law, Section 47 et seq., New York
Civil Rights Law, Article 4-C, Section 48 et seq., New York Labor Law Section 201-d, New York Civil Rights Law, Article 4, Section 40-c to 45 and any applicable federal, state, or local anti-discrimination or equal employment
opportunity statues or regulations, including, without limitation, any fair employment or human rights ordinance of any municipality or county in the State of New York; which Pine or his heirs, personal representatives, successors and assigns had,
have or may hereafter have against the Company Releasees for, on or by reason of any matter, cause or thing whatsoever from the beginning of the world to the date hereof; except that, Pine in no way releases or discharges the Company’s
obligations under this Agreement or any of the Surviving Agreements. Nothing herein shall be construed as an admission by the Company that Pine has any claim against it. Pine and his heirs, personal representatives, successors and assigns, further
waive any and all manner of notice, knowledge or discovery of any and all such actual or alleged claims of cause of action. 
  

 -6- 

 (b) Pine shall have 21 days to review the release contemplated by Section 13(a) and is advised to
consult with an attorney before signing it. After Pine signs this Agreement, he shall have seven days to cancel it, in which case this Agreement shall be terminated. If Pine does not cancel it, the release contemplated by Section 13(a) shall
become effective. 
 (c) Subject to the last sentence of this Section 13(c), the Company, in consideration of good and valuable
consideration received and to be received from Pine hereunder, the sufficiency of which is acknowledged, releases and discharges Pine and his heirs, personal representatives, successors and assigns (together, the “Pine Releasees”), of and
from all claims, demands, causes of action, suits, actions, proceedings, judgments, debts, damages, liabilities and obligations, at law, equity or otherwise, which the Company or any of its affiliates and any of their respective successors or
assigns had, have or may hereafter have against the Pine Releasees for, on or by reason of any matter, cause or thing whatsoever from the beginning of the world to the date hereof; except that, the Company in no way releases or discharges
Pine’s obligations under this Agreement and the Surviving Agreements. Nothing herein shall be construed as an admission by Pine that the Company has any claim against him. The Company, its affiliates and their respective successors and assigns,
further waive any and all manner of notice, knowledge or discovery of any and all such actual or alleged claims of cause of action. The foregoing release shall become effective automatically on the effectiveness of the release contemplated by
Section 13(a). 
 14. Litigation Cooperation. From time to time, if requested by the Company, Pine shall make his time and
attention reasonably available to, and shall cooperate with the Company with respect to, any aspect of any litigation or governmental proceedings involving the Company regarding periods during which he was an employee of the Company and a reasonable
period thereafter. Unless Pine is called as witness, the Company shall pay him a per diem fee comparable to his then current compensation or, if he is not then employed, at a reasonable rate. The Company shall reimburse Pine for any travel,
lodging and other expenses he reasonably incurs in this regard, in accordance with their standard reimbursement policies. 
 15. Entire
Agreement. This Agreement sets forth the entire understanding of the parties with respect to its subject matter, merges and supersedes any prior or contemporaneous understandings with respect to its subject matter, and shall not be modified or
terminated except by a written instrument executed by the Company and Pine. Failure of a party to enforce one or more of the provisions of this Agreement or to require at any time performance of any of the obligations hereunder shall not be
construed to be a waiver of such provisions by such party nor to in any way affect the validity of this Agreement or such party’s right thereafter to enforce any provision of this Agreement, nor to preclude such party from taking any other
action at any time which it would legally be entitled to take. 
 16. Severability. If any provision of this Agreement is held to be
invalid or unenforceable by any court or tribunal of competent jurisdiction, the remainder of this Agreement shall not be affected by such judgment, and such provision shall be carried out as nearly as possible according to its original terms and
intent to eliminate such invalidity or unenforceability. In this regard, the Company and Pine agree that the provisions of Section 10, including, without limitation, the scope of its territorial and time restrictions, are reasonable and
necessary to protect and preserve the Company’s legitimate interests. If the provisions of Section 10 are held by a court of competent jurisdiction to be in any respect unreasonable, then such court may reduce the territory or time to
which it pertains or otherwise modify such provisions to the extent necessary to render such provisions reasonable and enforceable. 
  

 -7- 

 17. Successors and Assigns. Pine shall have no right to assign this personal Agreement, or any
rights or obligations hereunder, without the consent of the Company. On the sale of all or substantially all of the assets of the Company to another party, or on the merger of the Company with another corporation, this Agreement shall inure to the
benefit of, and be binding on, both Pine and the party purchasing such assets or surviving such merger in the same manner and to the same extent as though such other party were the Company. Subject to the foregoing, this Agreement shall inure to the
benefit of, be binding on and be enforceable by, the parties and their respective heirs, personal representatives, successors and assigns. 
 18. Communications. All notices, consents and other communications given under this Agreement shall be in writing and shall be deemed to have been duly given (a) when delivered by hand or by FedEx or a similar overnight courier
to, (b) five days after being deposited in any United States post office enclosed in a postage prepaid registered or certified envelope addressed to, or (c) when successfully transmitted by fax (with a confirming copy of such communication
to be sent as provided in (a) or (b) above) to, the party for whom intended, at the address or fax number for such party set forth below, or to such other address or fax number as may be furnished by such party by notice in the manner
provided herein; provided, however, that any notice of change of address or fax number shall be effective only on receipt. 
  

			
	If to the Company:	  	If to Pine:
		
	Interep National Radio Sales, Inc.	  	Mr. George E. Pine
	100 Park Avenue	  	100 Lakeshore Drive
	New York, New York 10017	  	Lake Point Tower, Apartment 258
	Attention: Mr. Ralph C. Guild	  	North Palm Beach, Florida 33408
	Fax No.: (212) 916-0749	  	Fax No.: (561) 626-4595

 19. Construction; Counterparts. The headings contained in this Agreement are for
convenience only and shall in no way restrict or otherwise affect the construction of the provisions hereof. References in this Agreement to Sections are to the sections of this Agreement. This Agreement may be executed in multiple counterparts,
each of which shall be an original and all of which together shall constitute one and the same instrument. 
 20. Governing Law. This
Agreement shall be governed by the laws of the State of New York applicable to agreements made and fully to be performed in such state, without giving effect to conflicts of law principles. 
 IN WITNESS WHEREOF, each of the parties has executed this Agreement as of the date first set forth above. 
  

									
	INTEREP NATIONAL RADIO SALES, INC.	 		 	
					
	 By: 
	 	/s/ Ralph C. Guild	 		 		 	/s/ George E. Pine
		 	 Ralph C. Guild
 Chairman of the Board
	 		 		 	GEORGE E. PINE

  

 -8-Collaboration and License Agreement dated April 14, 1999

 EXHIBIT 10.7 
 COLLABORATION AND LICENCE AGREEMENT 
 THIS AGREEMENT is made this 14th day of April 1999 by and between 

UNIVERSITY COLLEGE LONDON, incorporated in the United Kingdom by Royal Charter, acting through its Royal Free and University College Medical School and Freemedic plc,
whose address is Rowland Hill Street, London NW3 2PF, United Kingdom (together, “RFUCMS”) 
 and 
 Big Bear Bio Inc., of P.O. Box 25268, San Mateo, CA 94402, USA (“BBB”). 
 WHEREAS 
  

	A.	RFUCMS, by virtue of discoveries made by or under the direction of its employee, Dr Peter S N Rowe, is owner of certain intellectual property rights relating to the regulation of
phosphate metabolism (the “Technology”); 

  

	B.	BBB is a company whose business is the research, development and commercialisation of products in the area of endocrinology and mineral metabolism; 

  

	C.	BBB wishes to provide funding to support further research at RFUCMS into the Technology, and to obtain a licence to develop and commercialise products arising therefrom;

  

	D.	RFUCMS is willing to grant a licence to BBB subject to the terms and conditions hereof. 

 NOW THEREFORE the parties are agreed as follows: 
  

	1.	Definitions 

  

			
	Funded Research	  	A programme of research, a description and the objectives of which are set out in Appendix I hereto, to be carried out at RFUCMS under the direction of Dr Rowe (or an acceptable substitute as
provided for herein) to investigate and increase knowledge of a putative novel polypeptide (“Phosphatonin”), fragments and/or derivatives thereof, receptors therefor and substances acting on or bound by such receptors, involved in the
regulation of phosphate metabolism.
		
	Licensed Patent	  	Any patent issued upon or deriving priority from the Patent Applications, including any foreign patent corresponding thereto, and/or any divisions, continuations or reissues
thereof.
		
	 Net Sales Value
 (NSV)
	  	The amount invoiced by BBB, its distributor(s) or sub-licensee(s) in respect of sales of Product(s) to any third party, excluding any tax on such invoiced amount and less any discounts credits
or allowance for price reductions in accord with normal business practice and refunds or allowance for returns. The transfer of goods between BBB and its distributor(s) and sub-licensees shall not counted as sales for the purpose of calculating Net
Sales Value.
		
	Patent Applications	  	Patent Application GB 9810681.8 dated 18 May 1998 and Patent Application GB 9819387.3 dated 4 September 1998, filed in the name of University College London, together with any future
patent applications deriving their subject matter from the Funded Research and filed in the name of RFUCMS or its nominee, and RFUCMS’s title in any “Joint Patent” as contemplated by Article 5.3.
		
	Product	  	Any product deriving from the Research, whether or not incorporated into a pharmaceutical formulation or other vehicle, and which is sold or offered for sale as an agent for the therapy,
diagnosis or prevention of disease, or as a laboratory reagent
		
		  	

  

					
	 Confidential
	  	Page 1 of 12	  	

			
		  	or investigational tool, or any other use for commercial purposes.
		
	Research	  	The Funded Research together with research and development work carried out by or on behalf of BBB as contemplated by Article 2.5, on materials and/or discoveries and information arising from
the Funded Research or otherwise furnished to BBB by RFUCMS pursuant to this Agreement.

  

	2.	Collaborative Research and Funding 

  

	2.1	BBB will pay to RFUCMS £451,500 (four hundred and fifty-one thousand, five hundred pounds Sterling) in support of the Funded Research, such payment shall be inclusive of
RFUCMS normal costs for overheads associated with the Funded Research, but exclusive of Value Added Tax (currently 0% for non-EC countries). Any reasonable expense incurred by RFUCMS personnel directly in connection with travel requested by BBB
(e.g. to attend review meetings) shall be reimbursed by BBB as an additional expense promptly upon presentation of RFUCMS’s invoice. 

  

	2.2	Payment will be made in pounds sterling by wire transfer of immediately available funds to General Call Account Number [***], quoting reference “BBB”, in four equal
instalments 6-monthly in advance, the first such instalment falling due immediately upon execution of this Agreement (the “Effective Date”). 

  

	2.3	The Funded Research will be conducted in the Department of Biochemistry and Molecular Biology of RFUCMS under the direction of Dr Rowe, and RFUCMS shall ensure that the personnel
equipment and facilities as set out in the costing attached hereto as Appendix II are made available to conduct the Funded Research. It is envisaged that the initial period of the Funded Research will be two years, subject to extension pursuant to
2.7 below. 

  

	2.4	In the event that Dr Rowe ceases to be available, and RFUCMS is unable, after all reasonable effort, to appoint a suitably qualified and experienced substitute acceptable to BBB
within one month from the date that Dr. Rowe ceases to be available, BBB shall have the right to terminate the payment of research funding, and any unused portion of funds already paid (excluding any irrevocable future commitment made by RFUCMS
in connection with the Funded Research) shall be refunded to BBB within one (1) month of BBB’s decision of termination. RFUCMS will make all reasonable endeavour to ensure that such commitments are kept to a minimum, and in any case no
commitment for a period exceeding 3 (three) months shall be deemed to be irrevocable. Termination in such circumstance shall not act to terminate the licence granted to BBB hereunder. The obligation of RFUCMS to make any refund pursuant to this
Article 2.4 and the right of BBB to reduce royalties pursuant to Article 4.5 below shall be null and void in the event that Dr Rowe ceases to be available as a consequence of any offer made either directly by BBB, or by any third party with the
inducement of BBB. 

  

	2.5	On receipt of the first instalment from BBB, RFUCMS will provide to BBB reasonable samples of materials and all information not previously made available to BBB, arising from Dr
Rowe’s studies on phosphate metabolism. BBB shall be entitled to use such materials and information, together with related materials and information furnished to BBB by RFUCMS in anticipation of this Agreement, to pursue independent research.

  

	2.6	RFUCMS will furnish to BBB quarterly reports of progress of the Funded Research. Any exceptional or unexpected finding from the Funded Research will be notified to BBB without undue
delay. BBB will furnish to RFUCMS the reports of its progress of Research at least [***], and its plans and timetables for the commercial development of any Products or Product candidates at least [***]. Any exceptional or unexpected progress, or
any material deviation from such plans or timetables by BBB will be notified to RFUCMS without undue delay. 

  

	2.7	The parties shall meet not later than three months before the second anniversary of the Effective Date to review progress of the Research and to agree terms for any extension to the
Funded Research. Such extension shall be funded by BBB 

  

	 	i)	from any funding paid pursuant to 2.1 above and remaining unspent 

  

	 	ii)	from additional funding at a rate to be agreed in writing between the parties 

  

					
	 Confidential
	  	Page 2 of 12	  	

  

	***	Confidential treatment request pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. Omitted portions have been filed separately with
the Commission. 

  

	3.	Licence 

  

	3.1	In consideration of the funding pursuant to Article 2.1 above, RFUCMS will grant to BBB a world-wide exclusive licence to use the Licensed Patents and Patent Applications, materials
information and know-how arising from the Funded Research (whether or not protected by patent or capable of such protection) to carry out research on, develop, make, have made, sell, have sold or import one or more Products as herein defined, and to
practice any process, method or procedure and otherwise exploit the Products and Licensed Patents and Patent Applications. 

  

	3.2	RFUCMS retains the right, without obligation to BBB, to use the materials, information and know-how licensed hereunder to BBB for non-commercial research purposes.

  

	3.3	BBB shall have the right to appoint one or more sub-licensees upon terms to be negotiated by BBB. Any such sub-licence shall be co-terminous with the term of this Agreement, and
shall contain the provision that, in the event that this Agreement is terminated by RFUCMS pursuant to Article 7.2 below RFUCMS shall have the option of converting such sub-licence into a direct licence between RFUCMS and the sub-licensee. Any
sub-licensee appointed by BBB shall not have the right to appoint licensees. 

 BBB shall inform RFUCMS of the execution of any
sub-licence agreement within [***] of its execution. BBB shall provide RFUCMS with sufficient detail of the sub-licence and the profile of the sub-licensee to enable RFUCMS to determine its rights thereunder. 
  

	3.5	The licence granted by this Agreement is conditional upon diligent and effective exploitation of the rights granted to BBB, in a manner likely to satisfy the demand in the
commercial market for Product. BBB commits to undertake all commercially reasonable steps to bring one or more Product(s) to the market within a reasonable time frame, as set out in BBB’s business plans provided to RFUCMS pursuant to Article
2.6 above. 

 If in the periodic review of BBB’s progress reports it becomes apparent to RFUCMS that, extenuating
circumstances excepted, there has been a lack of reasonable diligence by BBB, RFUCMS shall have the right to request in writing BBB to explain its reasons for deviation from such plans. In the absence of an acceptable explanation within [***] of
such request, RFUCMS may at its sole discretion terminate the licence for one or more countries or convert it to a non-exclusive licence. 
  

	4.	Fees and Royalties 

  

	4.1	BBB shall pay RFUCMS milestone fees as follows: 

  

	 	i)	On entry into [***] of a Product for the treatment or prevention of disease, [***]; 

  

	 	ii)	On [***] for the treatment or prevention of any disease state [***]; 

  

	 	iii)	On [***] of a Product for the treatment or prevention of [***]; 

  

	 	iv)	On first commercial launch of the first Product for [***] that is formally registered under the laws and regulations of the government of any nation or area, [***].

  

	4.2	BBB shall pay to RFUCMS a percentage of lump-sum payments received by BBB as sub-licence fees as follows: 

  

	 	i)	For sub-licensees appointed [***] percent; 

  

	 	ii)	For sub-licensees appointed [***] percent. 

  

	4.3	BBB shall pay to RFUCMS royalties as a percentage of Net Sales Value of sales of Product by BBB, its distributors or sub-licensees as follows: 

  

					
	 Confidential
	  	Page 3 of 12	  	

  

	***	Confidential treatment request pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. Omitted portions have been filed separately with
the Commission. 

  

	 	i)	In each territory where one or more Licensed Patents are in force, [***] of NSV for sales of therapeutic Products, [***] of NSV for sales of non-therapeutic Products, such royalties
to be payable while at least one Licensed Patent remains in force. 

  

	 	ii)	In each territory where no Licensed Patent is in force, [***] of NSV for sales of therapeutic Products, and [***] of NSV for sales of non-therapeutic Products, such royalties to be
payable for [***] from launch in the territory of the Product to which they relate. 

  

	4.4	Any lump-sum payment falling due hereunder shall be paid to RFUCMS not later than [***] from the date of the relevant milestone event or receipt by BBB of sub-licence fees as the
case may be. Royalty payments shall be paid quarterly in arrears and shall become due and payable not later than [***] after the end of the calendar quarter to which they relate. 

  

	4.5	In the event that BBB is obliged to pay royalties on Products to a third party as a direct consequence of Dr Rowe’s ceasing to be employed by RFUCMS, BBB shall be entitled to
reduce royalty payable to RFUCMS under Article 4.3 above by a value equal to [***] percent of such third party royalty but in no circumstance shall the royalty payable to RFUCMS be reduced by more than [***] percent. 

  

	4.6	BBB shall be entitled to offset against royalties payable to RFUCMS under Article 4.3 above a sum equal to [***] percent of expenditure by BBB in prosecution of the Licensed Patents
pursuant to Article 5.2 below, provided however that the combined effect of this Article 4.6 and of Article 4.5 above shall not reduce royalty payable to RFUCMS by a total of more than [***] percent of what would otherwise have been payable in any
year. 

  

	4.7	For the avoidance of doubt, the parties are agreed that any reduction that BBB may be entitled to make shall not apply to any payment due to RFUCMS under Articles 4.1 and 4.2 above.

  

	5	Patents and Intellectual Property Rights 

  

	5.1	Ownership of the Licensed Patents shall remain at all times with RFUCMS, provided, however, that the Joint Patents defined in 5.3 below shall remain at all time co-owned by
RFUCMS and BBB. 

  

	5.2	BBB shall be entitled at its own cost and expense (subject to the provisions of 4.6 above) to determine patent strategy and prosecution of the Licensed Patents and the Patent
Applications using any representatives and/or patent counsels selected at the sole discretion of BBB. RFUCMS will at the request of BBB and at the expense of BBB execute all documents and do all things necessary for BBB to exercise such entitlement.
BBB shall keep RFUCMS fully informed of its activities in relation to the Licensed Patents and the Patent Applications. 

  

	5.3	Any patent application and patents issuing thereon claiming an invention arising from the Research in which any officer or employee of BBB has made an inventive contribution shall
be owned jointly by RFUCMS and BBB (“Joint Patent”). Prosecution of Joint Patents shall be at BBB’s own cost and expense. 

  

	5.4	Any such Joint Patent shall be regarded as a Licensed Patent for the purposes of calculating payment due to RFUCMS under Articles 4.1, 4.2 and 4.3 above but shall not be regarded as
a Licensed Patent for the purposes of Article 4.6. 

  

	5.5	RFUCMS shall give notice of any publication (including oral presentation) relating to the Funded Research, and shall provide to BBB a copy of the text of such publication not later
than [***] prior to the intended date of publication. BBB shall endeavour within [***] (and in no event more than [***]) of receipt to take what action it deems necessary for the protection of any invention disclosed by the intended publication, and
shall inform RFUCMS accordingly. 

  

	5.6	[***] In the event that [***] decides not to file for such patent protection, [***] shall inform [***] of its intention not later than [***] from such notification. [***] shall
thereafter be free at its sole discretion and expense to seek patent protection in its own name for such invention. The said invention shall fall outside the scope of the licence granted to BBB hereunder and RFUCMS shall be free to seek third party
licensees therefor. However, BBB shall have right of first refusal on [***] notice to take a separate licence to such invention on terms no less favourable than those negotiated with a third party. 

  

					
	 Confidential
	  	Page 4 of 12	  	

  

	***	Confidential treatment request pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. Omitted portions have been filed separately with
the Commission. 

  

	5.7	In the event the [***] elects not to proceed with the prosecution of, or to renew the territorial filing of any Licensed Patent or Patent Application, [***] shall inform [***] of
its intention not less than [***] prior to any deadline. RFUCMS shall thereafter be free at its sole discretion and expense to pursue such prosecution or renewal. The said patents, applications or territories as the case may be shall fall outside
the scope of the license granted to BBB hereunder and RFUCMS shall be free to seek third party licensees therefor. However, BBB shall have right of first refusal on [***] notice to take a separate licence to such invention on terms no less
favourable than those negotiated with a third party. 

  

	5.8	In respect to serendipitous inventions arising from the Funded Research but having application outside the scope of the Research, BBB shall have right of first refusal, for [***]
from notification by RFUCMS of such invention, to take an exclusive licence to the invention on terms to be negotiated in good faith between the parties. BBB shall in any event have a royalty-free non-exclusive licence hereunder to use any such
invention to the extent that such use is essential to the development of one or more Products. 

 For the avoidance of doubt,
the parties agree that, for the purposes of this Agreement “serendipitous invention” shall mean a discovery, invention or technical improvement (whether or not capable of protection by patent, copyright or the like) which has general
utility not confined to the subject matter of the Funded Research (by way of illustration, a novel method of sequencing proteins). An unexpected finding relating only to the subject matter of the Research and arising therefrom, including (but not by
way of limitation) any unexpectedly obtained or cloned molecule, fragments and/or derivatives thereof, receptors therefor and substances acting on or bound by such receptors, and any unexpected utility therefor shall not be deemed to be a
serendipitous invention. 
  

	5.9	Each party shall notify the other party hereto promptly in the event that (a) it reasonably believes that any Licensed Patent is being infringed by a third party or (b) a
declaratory judgement action is brought or threatened against it with respect to any Licensed Patent. In such event BBB shall have the right (but not the obligation) to act as principal in taking action at its own expense (“Enforcement
Action”) in the enforcement of any Licensed Patent or in the defence of any declaratory judgement action against either of the parties hereto. 

  

					
	 Confidential
	  	Page 5 of 12	  	

  

	***	Confidential treatment request pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. Omitted portions have been filed separately with
the Commission. 

  

	5.10	If BBB has not, within [***] of the notice contemplated by Article 5.9 above taken all reasonable steps to initiate appropriate Enforcement Action, or if having initiated such
action BBB thereafter abandons or fails diligently to pursue such Enforcement Action, RFUCMS shall have the right at its sole discretion and expense to take or to continue such action as the case may be and shall thereafter be principal in the said
action. In such event, BBB shall be entitled at its own expense to participate in such Enforcement Action with counsel of its choice. 

  

	5.11	The party acting as principal in any Enforcement Action shall keep the other party fully informed as to the progress of such action. The party not acting as principal shall, at the
reasonable request of the other party co-operate with that party, including without limitation by joining as party plaintiff, executing documents, and making available relevant personnel, records, papers, information, samples, specimens and other
similar materials in that party’s control. 

  

	5.12	The party acting as principal in any Enforcement Action in accordance with Articles 5.9 or 5.10 above shall bear the expenses of such action [***], provided however that, to the
extent that such damages are attributed to a Licensed Patent, shall first be applied to reimburse the expenses of the party acting as principal in such Enforcement Action, and secondly to reimburse the expenses (if any) of the other party incurred
in connection with such action, including without limitation reasonable attorney’s fees and court costs. Any remainder [***], with the following provisos: 

  

	 	(i)	BBB shall not be entitled to recover any expenses incurred in connection with such action prior to the abandonment or failure of diligence contemplated by Article 5.10, and

  

	 	(ii)	Any exemplary damages awarded to BBB in compensation for loss of sales shall be deemed to be Net Sales for the calculation of royalties due to RFUCMS pursuant to Article 4.3.

  

	6.	Statements and Accounts 

  

	6.1	BBB shall prepare and provide royalty statements to RFUCMS throughout the term of the Agreement and any extension thereof covering the periods ending [***] respectively, within
[***] from the end of the quarter to which they relate, providing such information as is reasonably required by RFUCMS to permit an accurate determination of the amount payable by BBB to RFUCMS in accordance with Section 4 of this Agreement.

  

	6.2	The royalty statements delivered by BBB to RFUCMS shall be accompanied by payment of the royalties due for the period ending [***] of each year during the term of this Agreement and
any extension thereof. Payments shall be made by a bank wire transfer of immediately available funds to an account designated by RFUCMS from time to time. Net Sales not invoiced in pounds sterling shall be converted prior to royalty calculation
using the rate of exchange quoted in Wall Street Journal on the day such royalty payment is due to be made. 

  

	6.3	Where required by law, BBB shall withhold taxes required to be paid by any taxing authority on account of any payment to RFUCMS hereunder, and BBB shall obtain and furnish to RFUCMS
satisfactory evidence of such withholding and payment in order for RFUCMS to obtain a tax credit or other relief as may be available under applicable law. 

  

					
	 Confidential
	  	Page 6 of 12	  	

  

	***	Confidential treatment request pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. Omitted portions have been filed separately with
the Commission. 

  

	6.4	BBB shall keep full, accurate and complete records and books of account relating to the Net Sales Value of Product sold by BBB, its distributors and sub-licensees, and all royalties
and similar fees received by BBB. BBB shall make such records available to RFUCMS during normal business hours, upon reasonable prior notice and permit RFUCMS and its authorised representative to inspect the records, and to take extracts from, and
make copies of, the records. BBB shall afford all facilities and collaboration to RFUCMS and its authorised representatives for such inspections and furnish representatives with the information necessary to understanding the records; and keep all
the records intact for a period of not less than [***]. 

  

	6.5	RFUCMS may from time to time, upon reasonable prior notice to BBB have the records and books of account kept in accordance with Article 6.4 audited or examined by a duly authorised,
independent accountant to ascertain the accuracy of the payments made by BBB to RFUCMS. The auditor shall report on the following: the amount payable and whether any underpayment or overpayment has been made. Should any audit of the Records of BBB
reveal an underpayment by BBB to RFUCMS, BBB shall immediately remit payment to RFUCMS in the amount of such underpayment plus interest calculated at the rate of [***] compounded monthly, which is an annual percentage of approximately [***] (or at
any such other rate as is from time to time established by RFUCMS and communicated in writing to BBB calculated from the date such payment was actually due until the date when such payment is actually made). Further, in the event that such
underpayment reflects a discrepancy of [***] from that which BBB ought to have paid, BBB shall reimburse RFUCMS for the costs and expenses of such audit including, but not limited to, reasonable lawyers’ fees incurred in connection therewith.
Should such an audit reveal an overpayment by BBB to RFUCMS, the overpayment shall be credited against Royalties payable in the future, unless the Agreement has been terminated before the overpayment becomes known, in which case the overpayment
shall be refunded to BBB. 

  

	7.	Term and Termination 

  

	7.1	This Agreement shall take effect from the Effective Date and shall endure for the lifetime of the last to expire of the Licensed Patents. 

  

	7.2	Without prejudice to the rights of either party, either party may terminate this Agreement forthwith by the service of notice in writing in the event that the other party is in
breach of this Agreement and in the case of a breach capable of remedy has within [***] of written notice of such breach failed to remedy the same. 

  

	7.3	Termination of this Agreement for whatever reason shall not terminate any rights accruing to either party prior to such termination, and shall not excuse BBB from making any payment
that may be due hereunder. 

  

	8.	Liability and Indemnities 

  

	8.1	The parties acknowledge the experimental nature of the research proposed hereunder and BBB acknowledges that no representation or warranty express or implied is given by RFUCMS as
to: 

  

	 	i)	the outcome of any programme of research or development whether undertaken individually or jointly; 

  

	 	ii)	the issuance and/or validity of any patent(s) deriving from the Patent Applications; 

  

	 	iii)	the fitness for any purpose of any material, information or know-how supplied to BBB hereunder. 

  

					
	 Confidential
	  	Page 7 of 12	  	

  

	***	Confidential treatment request pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. Omitted portions have been filed separately with
the Commission. 

  

	8.2	BBB shall indemnify and hold harmless RFUCMS, its officers servants and agents against all liabilities, claims, proceedings, penalties, fines or other sanctions costs and expenses
however incurred which may be imposed or asserted against RFUCMS, BBB or any third party in any way related to or arising directly or indirectly in connection with any act or omission (other than the wilful misconduct of RFUCMS ) in relation to the
operation or use of any development, material, invention or information supplied by RFUCMS pursuant to this Agreement or the manufacture, control, possession, ownership, use, sale or other disposition by BBB or any third party of any Product
deriving therefrom. 

  

	8.3	RFUCMS shall indemnify and hold harmless BBB, its officers, servants ,and agents against all liabilities, claims, proceedings, penalties, fines or other sanction costs and expenses
however incurred which may be imposed or asserted against RFUCMS, BBB, or any third party in any way related to or arising directly or indirectly in connection with any act or omission (other than the wilful misconduct of BBB) in relation to the
operation of the Funded Research or use of any material supplied by BBB for the purpose of this Funded Research. 

  

	9.	Confidentiality 

  

	9.1	Information (including materials, scientific, technical or business information) furnished hereunder by one party to the other and marked as the confidential property of the
disclosing party, or if disclosed orally, is confirmed in writing within thirty (30) days of such disclosure (“Information”) shall be held in confidence by the receiving party in conditions no less secure than those for the
confidential property of that party, and access thereto shall be limited to those officers, servants and advisors of the receiving party who have reasonable need to know for the purposes of this Agreement. The receiving party shall ensure that all
such persons are made aware of the confidential nature of the Information, and shall undertake to be bound by conditions of confidentiality no less stringent than those contained herein. 

  

	9.2	The conditions of confidentiality shall not apply to any of the Information that a receiving party can demonstrate: 

  

	 	i)	Was in the public domain at the time of disclosure, or has subsequently become part of the public domain other than by the negligent act or omission of the receiving party; or

  

	 	ii)	Was lawfully in the possession of the receiving party (as evidenced by written record) at the time of disclosure; or 

  

	 	iii)	Was independently developed by the receiving party without reference to or reliance upon the Information; or 

  

	 	iv)	The receiving party is required to disclose by law, provided that such party takes all reasonable and lawful action to avoid or minimise such disclosure. 

 

	9.3	The obligations of non-disclosure embodied herein shall survive termination of this Agreement by a period of ten (10) years. 

  

	9.4	The details of this Agreement shall be Information for the purposes of this Agreement, and neither party shall publish or make reference to the same without the written agreement of
the other party. 

  

	9.5	Neither party shall use the name of the other party in any publicity, promotion or other written oral or electronic communication to third parties without the express written
permission of the other party. 

  

	9.6	During the term of this agreement, RFUCMS shall not deliver any experimental or commercial materials, information and know-how to make or use such materials under this licence to
any third party without prior written consent by BBB. 

  

					
	 Confidential
	  	Page 8 of 12	  	

	10.	General 

  

	10.1	This Agreement shall not create any partnership or a relationship of principal and agent of the like between the parties. 

  

	10.2	The headings in this Agreement are for convenience only and shall not affect its interpretation or construction. 

  

	10.3	In the event that any provision of this Agreement is declared by any judicial or other competent authority to be void, illegal or otherwise unenforceable, the parties shall amend
that provision in such reasonable manner that achieves the intent of the parties without illegality, or if the parties are unable to agree on such amendment the relevant part of the provision shall be severed from this Agreement and the remaining
provisions shall remain. 

  

	10.4	Neither party shall be liable for any failure to fulfil any term or condition of this Agreement if fulfilment has been delayed, hindered or prevented by any event of force majeur
including, but not limited to, acts of God, any strike, lock out or other industrial dispute, acts of the elements or any occurrences beyond the control of the affected party, provided that that party promptly notifies the other of the nature and
likely duration of such delay, and when such force majeur ceases to apply. 

  

	10.5	Neither party may assign or otherwise transfer this Agreement in whole or in part without the prior written consent of the other party. 

  

	10.6	The failure of either party to enforce at any time or for any period any one or more of the provisions of this Agreement shall not be a waiver of them or of the right to at any time
subsequently to enforce any or all of the provisions of this Agreement. 

  

	10.7	The parties acknowledge that this Agreement, together with the Appendices hereto contains the entire agreement between the parties relating to the subject matter hereof and that
they have not relied upon any oral or written representation, warranty term, condition or understanding not set out in this Agreement. 

  

	10.8	Any notice to be served by either of the parties on the other shall be sent by prepaid recorded delivery, or if sent by electronic means, shall be confirmed by such prepaid recorded
delivery, to the address set out at the head of this Agreement or to such other address that may from time to time be notified in writing to the other. 

 Any notice addressed to RFUCMS shall be marked for the attention of: 
 [***] 
 [***] 
 Any notice addressed
to BBB shall be marked for the attention of: 
 [***] 
 [***] 
  

	10.9	This agreement shall be construed in accordance with English Law. Any dispute arising out of or in connection with this Agreement, including any question regarding its existence,
validity or termination, shall be referred to and finally resolved by arbitration under the Rules of the London Court of International Arbitration (“LCIA”), which Rules are deemed to be incorporated by reference into this clause. The
number of arbitrators shall be three, with each party selecting one arbitrator and the two arbitrators selecting the third. The place of arbitration shall be London, England. The language to be used in the arbitral proceedings shall be English. The
governing law of the contract shall be the substantive law of England. The cost thereof shall be borne in full by the party held to be the offending party. 

  

					
	 Confidential
	  	Page 9 of 12	  	

  

	***	Confidential treatment request pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. Omitted portions have been filed separately with
the Commission. 

  

 IN WITNESS WHEREOF the parties have appended hereto the signatures of their authorised signatories as of the date first
above written. 
  

									
	 For and on behalf of
 University College London
	 		 	 For and on behalf of
 Big Bear Bio
Inc

					
	Signed	 	/s/ C.A. Tarhan	 		 	Signed	 	/s/ Yoshinari Kumagai
					
	 Name and Title 
	 	C.A. Tarhan, Finance Director and Head of Administration	 		 	 Name and Title 
	 	Yoshinari Kumagai, President & CEO
					
	 Date
	 	14/4/99	 		 	 Date
	 	14/4/99

  

					
	 Confidential
	  	Page 10 of 12	  	

 APPENDIX I 
 Research Plan 
 Proposed Research Plan for Big Bar Biopharmaceuticals 
 [***] 
 Reference List: 
 Hoshiga, M., Alpers, C.E., Smith, L.L., Giachelli, C.M., and Schwartz, S.M. (1995). Alpha-v beta-3 integrin expression in normal and atherosclerotic artery. Circ.Res.
77, 1129-1135. 
 Hruska, K.A., Rifas, L., Cheng, S.L., Gupta, A., Halstead, L., and Avioli, L. (1995). X-linked hypophosphatemic rickets and the
murine Hyp homologue [editorial]. Am.J.Physiol: 268, F357-F362 
 HYP consortium, Francis, F., Hennig, S., Korn, b., Reinhardt, R., de Jong, D.,
Poustka, A., Lehrach, H., Rowe, P.S.N., Goulding, J.N., Summerfield, T., Mountford, R.C., Read, A.P., Popowska, E., Pronicka, E., Davies, K.E., O’Riordan, J.L.H., Econs, M.J., Nesbitt, T., Drezner, M.K., Oudet, C., Pannetier, S., Hanauer, A.,
Strom, T.M., Meindl, A., Lorenz, B., Cagnoli, M., Mohnike, K.L., Murken, J., and Meitinger, T. (1995). A gene (PEX) with homologies to endopeptidases is mutated in patients with X-linked hypophosphatemic rickets. The HYP Consortium. Nat.Genet.
11, 130-136. 
 Rifas, L., Cheng, S., Halstead, L.R., Gupta, A., Hruska, K.A., and Avioli, L.V. (1997). Skeletal casein kinase activity defect in the
HYP mouse. Calcif.Tissue Int. 61, 256-259. 
 Rifas, L., Gupta, A., Hruska, K.A., and Avioli, L.V. (1995). Altered osteoblast gluconeogenesis in
X-linked hypophosphatemic mice is associated with a depressed intracellular pH. Calcif.Tissue Int. 57, 60-63. 
 Rowe, P.S. (1997). The PEX gene: its
role in X-linked rickets, osteomalacia, and bone mineral metabolism. Exp Nephrol. 5, 355-363. 
 Rowe, P.S.N. (1994). Molecular Biology of
Hypophosphataemic Rickets and Oncogenic Osteomalacia. Hum.Genet. 94:(5), 457-467. 
 Rowe, P.S.N. (1998a). The role of the PHEX gene (PEX), in
families with X-linked hypophosphataemic rickets. Current Opinion in Nephrology & Hypertension 7(4), 367-376. 
 Rowe, P.S.N. (1998b). X-linked
rickets and tumour osteomalacia: PHEX and the missing link. Clinical and Experimental Nephrology 2(3), 183-193. 
 Rowe, P.S.N., Goulding, J., Read,
A.P., Mountford, R.C., Hanauer, A., Oudet, C., Whyte, M.P., Meier-Ewert, S., Lehrach, H., Davies, K.E., and O’Riordan, J.L.H. (1993). New markers for linkage analysis of hypophosphataemic rickets. Hum.Genet. 91, 571-575. 
 Rowe, P.S.N., Goulding, J.N., Francis, F., Oudet, C., Econs, M.J., Hanauer, A., Lehrach, H., Read, A.P., Mountford, R.C., Summerfield, T., Weissenbach, J., Fraser, W.,
Drezner, M.K., Davies, K.E., and O’Riordan, J.L. (1996). The gene for X-linked hypophosphataemic rickets maps to a 200- 300kb region in Xp22.1, and is located on a single YAC containing a putative vitamin D response element (VDRE). Hum.Genet.
97, 345-352. 
 Rowe, P.S.N., Oudet, C., Francis, F., Sinding, C., Pannetier, S., Econs, M.J., Strom, T.M., Meitinger, T., Garabedian, M., David, A.,
Macher, M.-A., Questiaux, E., Popowska, E., Pronicka, E., Read, A.P., Mokrzycki, A., Glorieux, F.H., Drezner, M.K., Hanauer, A., Lehrach, H., Goulding, J., and O’Riordan, J.L.H. (1997). Distribution of mutations in the PEX gene in families with
X-linked hypophosphataemic rickets (HYP). Hum.Mol.Genet. 6, 539-549. 
 Rowe, P.S.N., Read, A.P., Mountford, R.C., Benham, F., Kruse, T.A., Camarino,
G., Davies, K.E., and O’Riordan, J.L.H. (1992). Three DNA markers for hypophosphataemic rickets. Hum.Genet. 89, 539-542. 
 Smith, L.L., Cheung,
H.K., Ling, L.E., Chen, J., Sheppard, D., Pytela, R., and Giachelli, C.M. (1996). Osteopontin N-terminal domain contains a cryptic adhesive sequence recognized by alpha 9 beta 1 integrin. J.Biol.Chem. 271, 28485-28491. 
 Smith, L.L. and Giachelli, C.M. (1998). Structural requirements for alpha 9 beta 1-mediated adhesion and migration to thrombin-cleaved osteopontin. Exp.Cell Res. 242,
351-360. 
  

					
	 Confidential
	  	Page 11 of 12	  	

  

	***	Confidential treatment request pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. Omitted portions have been filed separately with
the Commission. 

  

 APPENDIX II 
 Project Costings 
 [***] 
 Grand total        £451,414 
 Travel Expenses to
be paid as incurred 
  

					
	 Confidential
	  	Page 12 of 12	  	

  

	***	Confidential treatment request pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. Omitted portions have been filed separately with
the Commission.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}]]