Document:

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                                                                   Exhibit 10.39

THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, OR ANY STATE SECURITIES LAWS. THEY MAY NOT BE SOLD OR OFFERED FOR SALE
IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THE SECURITIES UNDER
SAID ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR THE AVAILABILITY OF AN
EXEMPTION FROM REGISTRATION UNDER SAID ACT AND ANY APPLICABLE STATE SECURITIES
LAWS.

                                     No. 1

                          STOCK SUBSCRIPTION WARRANT

                          To Purchase Common Stock of

                      REPROGENESIS, INC. (the "Company")

                     DATE OF INITIAL ISSUANCE: July 2, 1998

     THIS CERTIFIES THAT for value received, TBCC FUNDING TRUST II or its
registered assigns (hereinafter called the "Holder") is entitled to purchase
from the Company, at any time, subject to Section 2.1, during the Term of this
Warrant, Twenty One Thousand Six Hundred Sixty-Seven (21,667) shares of common
stock, $.01 par value, of the Company (the "Common Stock"), at the Warrant
Price, payable as provided herein. The exercise of this Warrant shall be subject
to the provisions, limitations and restrictions herein contained, and may be
exercised in whole or in part.

SECTION 1. Definitions.
           -----------

     For all purposes of this Warrant, the following terms shall have the
meanings indicated:

     Common Stock - shall mean and include the Company's authorized Common
     ------------
Stock, $.01 par value, as constituted at the date hereof.

     Exchange Act - shall mean the Securities Exchange Act of 1934, as amended
     ------------
from time to time.

     Securities Act - the Securities Act of 1933, as amended.
     --------------

     Term of this Warrant - shall mean the period beginning on the date of
     --------------------
initial issuance hereof and ending on July 1, 2003.

     Warrant Price - $3.00 per share, subject to adjustment in accordance with
     -------------
Section 5 hereof.

     Warrants - this Warrant and any other Warrant or Warrants issued in
     ---------
connection with a Commitment Letter dated June 8, 1998 executed by the Company
and Transamerica Business Credit Corporation (the "Commitment Letter") to the
original holder of this Warrant, or any transferees from such original holder or
this Holder.
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     Warrant Shares - shares of Common Stock purchased or purchasable by the
     --------------
Holder of this Warrant upon the exercise hereof.

SECTION 2. Exercise of Warrant.
           -------------------

     2.1. Procedure for Exercise of Warrant.  To exercise this Warrant in
          ---------------------------------
whole or in part (but not as to any fractional share of Common Stock), the
Holder shall deliver to the Company at its office referred to in Section 12
hereof at any time and from time to time during the Term of this Warrant, but
not prior to completion of the Company's initial public offering of securities:
(i) the Notice of Exercise in the form attached hereto, (ii) cash, certified or
official bank check payable to the order of the Company, wire transfer of funds
to the Company's account, or evidence of any indebtedness of the Company to the
Holder (or any combination of any of the foregoing) in the amount of the Warrant
Price for each share being purchased, and (iii) this Warrant. Notwithstanding
any provisions herein to the contrary, if the Current Market Price (as defined
in Section 5) is greater than the Warrant Price (at the date of calculation, as
set forth below), in lieu of exercising this Warrant as hereinabove permitted,
the Holder may elect to receive shares of Common Stock equal to the value (as
determined below) of this Warrant (or the portion thereof being canceled) by
surrender of this Warrant at the office of the Company referred to in Section 12
hereof, together with the Notice of Exercise, in which event the Company shall
issue to the Holder that number of shares of Common Stock computed using the
following formula:

                        CS = WCS x (CMP-WP)
                             --------------
                                  CMP

Where

     CS     equals the number of shares of Common Stock to be issued to the
            Holder

     WCS    equals the number of shares of Common Stock purchasable under the
            Warrant or, if only a portion of the Warrant is being exercised, the
            portion of the Warrant being exercised (at the date of such
            calculation)

     CMP    equals the Current Market Price (at the date of such calculation)

     WP     equals the Warrant Price (as adjusted to the date of such
            calculation)

In the event of any exercise of the rights represented by this Warrant, a
certificate or certificates for the shares of Common Stock so purchased,
registered in the name of the Holder or such other name or names as may be
designated by the Holder, shall be delivered to the Holder hereof within a
reasonable time, not exceeding fifteen (15) business days, after the rights
represented by this Warrant shall have been so exercised; and, unless this
Warrant has expired, a new Warrant representing the number of shares (except a
remaining fractional share), if any, with respect to which this Warrant shall
not then have been exercised shall also be issued to the Holder hereof within
such time. Subject to the limitations described in Section 6.2, the person in
whose name any certificate for shares of Common Stock is issued upon exercise of
this Warrant shall for all purposes be deemed to have become the holder of
record of such shares on the date on which the Warrant was surrendered and
payment of the Warrant Price and any applicable taxes was made, irrespective of
the date of delivery of such certificate, except that, if the date of such
surrender and payment is a date when the stock

                                      -2-
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transfer books of the Company are closed, such person shall be deemed to have
become the holder of such shares at the close of business on the next succeeding
date on which the stock transfer books are open.

     2.2.  Transfer Restriction Legend.  Each certificate for Warrant Shares
           ---------------------------
shall bear the following legend (and any additional legend required by (i) any
applicable state securities laws and (ii) any securities exchange upon which
such Warrant Shares may, at the time of such exercise, be listed) on the face
thereof unless at the time of exercise such Warrant Shares shall be registered
under the Securities Act:

           "The shares represented by this certificate have not been
           registered under the Securities Act of 1933, as amended, and
           may not be sold or transferred in the absence of such
           registration or an exemption therefrom under said Act."

Any certificate issued at any time in exchange or substitution for any
certificate bearing such legend (except a new certificate issued upon completion
of a public distribution under a registration statement of the securities
represented thereby) shall also bear such legend unless, in the opinion of
counsel for the holder thereof (which counsel shall be reasonably satisfactory
to counsel for the Company) the securities represented thereby are not, at such
time, required by law to bear such legend.

SECTION 3. Covenants as to Common Stock.  The Company covenants and agrees
           ----------------------------
that all shares of Common Stock that may be issued upon the exercise of the
rights represented by this Warrant will, upon issuance, be validly issued, fully
paid and nonassessable, and free from all taxes, liens and charges with respect
to the issue thereof. The Company further covenants and agrees that it will pay
when due and payable any and all federal and state taxes which may be payable in
respect of the issue of this Warrant or any Common Stock or certificates
therefor issuable upon the exercise of this Warrant. The Company further
covenants and agrees that the Company will at all times have authorized and
reserved, free from preemptive rights, a sufficient number of shares of Common
Stock to provide for the exercise of the rights represented by this Warrant.

SECTION 4. Adjustment of Number of Shares.  Upon each adjustment of the
           ------------------------------
Warrant Price as provided in Section 5, the Holder shall thereafter be entitled
to purchase, at the Warrant Price resulting from such adjustment, the number of
shares (calculated to the nearest tenth of a share) obtained by multiplying the
Warrant Price in effect immediately prior to such adjustment by the number of
shares purchasable pursuant hereto immediately prior to such adjustment and
dividing the product thereof by the Warrant Price resulting from such
adjustment.

SECTION 5. Adjustment of Warrant Price.  The Warrant Price shall be subject to
           ---------------------------
adjustment from time to time as follows: (i) If, at any time during the Term of
this Warrant, the number of shares of Common Stock outstanding is increased by a
stock dividend payable in shares of Common Stock or by a subdivision or split-up
of shares of Common Stock, then, following the record date fixed for the
determination of holders of Common Stock entitled to receive such stock
dividend, subdivision or split-up, the Warrant Price shall be appropriately
decreased so that

                                      -3-
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the number of shares of Common Stock issuable upon the exercise hereof shall be
increased in proportion to such increase in outstanding shares .

     (ii)  If, at any time during the Term of this Warrant, the number of shares
of Common Stock outstanding is decreased by a combination of the outstanding
shares of Common Stock, then, following the record date for such combination,
the Warrant Price shall appropriately increase so that the number of shares of
Common Stock issuable upon the exercise hereof shall be decreased in proportion
to such decrease in outstanding shares.

     (iii) In case, at any time during the Term of this Warrant, the Company
shall declare a cash dividend upon its Common Stock payable otherwise than out
of earnings or earned surplus or shall distribute to holders of its Common Stock
shares of its capital stock (other than Common Stock), stock or other securities
of other persons, evidences of indebtedness issued by the Company or other
persons, assets (excluding cash dividends and distributions) or options or
rights (excluding options to purchase and rights to subscribe for Common Stock
or other securities of the Company convertible into or exchangeable for Common
Stock), then, in each such case, immediately following the record date fixed for
the determination of the holders of Common Stock entitled to receive such
dividend or distribution, the Warrant Price in effect thereafter shall be
determined by multiplying the Warrant Price in effect immediately prior to such
record date by a fraction of which the numerator shall be an amount equal to the
difference of (x) the Current Market Price of one share of Common Stock minus
(y) the fair market value (as determined by the Board of Directors of the
Company, whose determination shall be conclusive) of the stock, securities,
evidences of indebtedness, assets, options or rights so distributed in respect
of one share of Common Stock, and of which the denominator shall be such Current
Market Price.

     (iv)  All calculations under this Section 5 shall be made to the nearest
cent or to the nearest one-tenth (1/10) of a share, as the case may be.

     (v)   For the purpose of any computation pursuant to this Section 5, the
Current Market Price at any date of one share of Common Stock shall be deemed to
be the average of the daily closing prices for the 15 consecutive business days
ending on the last business day before the day in question (as adjusted for any
stock dividend, split, combination or reclassification that took effect during
such 15 business day period). The closing price for each day shall be the last
reported sales price regular way or, in case no such reported sales took place
on such day, the average of the last reported bid and asked prices regular way,
in either case on the principal national securities exchange on which the Common
Stock is listed or admitted to trading or as reported by Nasdaq (or if the
Common Stock is not at the time listed or admitted for trading on any such
exchange or if prices of the Common Stock are not reported by Nasdaq then such
price shall be equal to the average of the last reported bid and asked prices on
such day as reported by The National Quotation Bureau Incorporated or any
similar reputable quotation and reporting service, if such quotation is not
reported by The National Quotation Bureau Incorporated); provided, however, that
if the Common Stock is not traded in such manner that the quotations referred to
in this clause (v) are available for the period required hereunder, the Current
Market Price shall be determined in good faith by the Board of Directors of the
Company or, if such determination cannot be made, by a nationally recognized
independent investment banking firm selected by the Board of Directors of the
Company (or if such selection cannot be made, by a nationally recognized
independent investment banking firm selected by the American Arbitration
Association in accordance with its rules).

                                      -4-
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     (vi)   Whenever the Warrant Price shall be adjusted as provided in Section
5, the Company shall prepare a statement showing the facts requiring such
adjustment and the Warrant Price that shall be in effect after such adjustment.
The Company shall cause a copy of such statement to be sent by mail, first class
postage prepaid, to each Holder of this Warrant at its, his or her address
appearing on the Company's records. Where appropriate, such copy may be given in
advance and may be included as part of the notice required to be mailed under
the provisions of subsection (viii) of this Section 5.

     (vii)  Adjustments made pursuant to clauses (i), (ii) and (iii) above shall
be made on the date such dividend, subdivision, split-up, combination or
distribution, as the case may be, is made, and shall become effective at the
opening of business on the business day next following the record date for the
determination of stockholders entitled to such dividend, subdivision, split-up,
combination or distribution.

     (viii) In the event the Company shall propose to take any action of the
types described in clauses (i), (ii), or (iii) of this Section 5, the Company
shall forward, at the same time and in the same manner, to the Holder of this
Warrant such notice, if any, which the Company shall give to the holders of
capital stock of the Company.

     (ix)   In any case in which the provisions of this Section 5 shall require
that an adjustment shall become effective immediately after a record date for an
event, the Company may defer until the occurrence of such event issuing to the
Holder of all or any part of this Warrant which is exercised after such record
date and before the occurrence of such event the additional shares of capital
stock issuable upon such exercise by reason of the adjustment required by such
event over and above the shares of capital stock issuable upon such exercise
before giving effect to such adjustment exercise; provided, however, that the
Company shall deliver to such Holder a due bill or other appropriate instrument
evidencing such Holder's right to receive such additional shares upon the
occurrence of the event requiring such adjustment.

SECTION 6.  Ownership.
            ---------

     6.1.   Ownership of This Warrant.  The Company may deem and treat the
            -------------------------
person in whose name this Warrant is registered as the holder and owner hereof
(notwithstanding any notations of ownership or writing hereon made by anyone
other than the Company) for all purposes and shall not be affected by any notice
to the contrary until presentation of this Warrant for registration of transfer
as provided in this Section 6.

     6.2.   Transfer and Replacement.  This Warrant and all rights hereunder are
            ------------------------
transferable in whole or in part upon the books of the Company by the Holder
hereof in person or by duly authorized attorney, and a new Warrant or Warrants,
of the same tenor as this Warrant but registered in the name of the transferee
or transferees (and in the name of the Holder, if a partial transfer is
effected) shall be made and delivered by the Company upon surrender of this
Warrant duly endorsed, at the office of the Company referred to in Section 12
hereof. Upon receipt by the Company of evidence reasonably satisfactory to it of
the loss, theft or destruction, and, in such case, of indemnity or security
reasonably satisfactory to it, and upon surrender of this Warrant if mutilated,
the Company will make and deliver a new Warrant of like tenor, in lieu of this
Warrant; provided that if the Holder hereof is an instrumentality of a state or
local government or an institutional holder or a nominee for such an
instrumentality or institutional holder an irrevocable agreement of indemnity by
such

                                      -5-
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Holder shall be sufficient for all purposes of this Section 6, and no evidence
of loss or theft or destruction shall be necessary. This Warrant shall be
promptly cancelled by the Company upon the surrender hereof in connection with
any transfer or replacement. Except as otherwise provided above, in the case of
the loss, theft or destruction of a Warrant, the Company shall pay all expenses,
taxes and other charges payable in connection with any transfer or replacement
of this Warrant, other than stock transfer taxes (if any) payable in connection
with a transfer of this Warrant, which shall be payable by the Holder.
Notwithstanding the foregoing, prior to completion of the Company's initial
public offering of securities, Holder will not transfer this Warrant and the
rights hereunder to any party other than an affiliate of the Holder, and in any
event except in compliance with federal and state securities laws.

SECTION 7.  Mergers, Consolidation, Sales.  In the case of any proposed
            -----------------------------
consolidation or merger of the Company with another entity, or the proposed sale
of all or substantially all of its assets to another person or entity, or any
proposed reorganization or reclassification of the capital stock of the Company,
then, as a condition of such consolidation, merger, sale, reorganization or
reclassification, lawful and adequate provision shall be made whereby the Holder
of this Warrant shall thereafter have the right to receive upon the basis and
upon the terms and conditions specified herein, in lieu of the shares of the
Common Stock of the Company immediately theretofore purchasable hereunder, such
shares of stock, securities or assets as may (by virtue of such consolidation,
merger, sale, reorganization or reclassification) be issued or payable with
respect to or in exchange for the number of shares of such Common Stock
purchasable hereunder immediately before such consolidation, merger, sale,
reorganization or reclassification. In any such case appropriate provision shall
be made with respect to the rights and interests of the Holder of this Warrant
to the end that the provisions hereof shall thereafter be applicable as nearly
as may be, in relation to any shares of stock, securities or assets thereafter
deliverable upon the exercise of this Warrant.

SECTION 8.  Notice of Dissolution or Liquidation.  In case of any distribution
            ------------------------------------
of the assets of the Company in dissolution or liquidation (except under
circumstances when the foregoing Section 7 shall be applicable), the Company
shall give notice thereof to the Holder hereof and shall make no distribution to
shareholders until the expiration of thirty (30) days from the date of mailing
of the aforesaid notice and, in any case, the Holder hereof may exercise this
Warrant within thirty (30) days from the date of the giving of such notice, and
all rights herein granted not so exercised within such thirty-day period shall
thereafter become null and void.

SECTION 9.  Notice of Extraordinary Dividends.  If the Board of Directors of
            ---------------------------------
the Company shall declare any dividend or other distribution on its Common Stock
except out of earned surplus or by way of a stock dividend payable in shares of
its Common Stock, the Company shall mail notice thereof to the Holder hereof not
less than thirty (30) days prior to the record date fixed for determining
shareholders entitled to participate in such dividend or other distribution, and
the Holder hereof shall not participate in such dividend or other distribution
unless this Warrant is exercised prior to such record date. The provisions of
this Section 9 shall not apply to distributions made in connection with
transactions covered by Section 7.

SECTION 10. Fractional Shares.  Fractional shares shall not be issued upon
            -----------------
the exercise of this Warrant but in any case where the Holder would, except for
the provisions of this Section 10, be entitled under the terms hereof to receive
a fractional share upon the complete exercise

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of this Warrant, the Company shall, upon the exercise of this Warrant for the
largest number of whole shares then called for, pay a sum in cash equal to the
excess of the value of such fractional share (determined in such reasonable
manner as may be prescribed in good faith by the Board of Directors of the
Company) over the Warrant Price for such fractional share.

SECTION 11.  Special Arrangements of the Company.  The Company covenants and
             -----------------------------------
agrees that during the Term of this Warrant, unless otherwise approved by the
Holder of this Warrant:

     11.1.   Will Reserve Shares.  The Company will reserve and set apart and
             -------------------
have available for issuance at all times, free from preemptive or other
preferential rights, the number of shares of authorized but unissued Common
Stock deliverable upon the exercise of this Warrant.

     11.2.   Will Not Amend Certificate.  The Company will not amend its
             --------------------------
Certificate of Incorporation to eliminate as an authorized class of capital
stock that class denominated as "Common Stock" on the date hereof.

     11.3.   Will Bind Successors.  This Warrant shall be binding upon any
             --------------------
corporation or other person or entity succeeding to the Company by merger,
consolidation or acquisition of all or substantially all of the Company's
assets.

SECTION 12.  Notices.  Any notice or other document required or permitted to
             -------
be given or delivered to the Holder shall be delivered at, or sent by certified
or registered mail to, the Holder at Transamerica Technology Finance Division,
76 Batterson Park Road, Farmington, Connecticut 06032, Attention: Assistant Vice
President, Lease Administration, with a copy to the Lender at Riverway II, West
Office Tower, 9399 West Higgins Road, Rosemont, Illinois 60018, Attention: Legal
Department or to such other address as shall have been furnished to the Company
in writing by the Holder. Any notice or other document required or permitted to
be given or delivered to the Company shall be delivered at, or sent by certified
or registered mail to, the Company at 21 Erie Street, Cambridge, Massachusetts
02139, Attention: Chief Financial Officer or to such other address as shall have
been furnished in writing to the Holder by the Company. Any notice so addressed
and mailed by registered or certified mail shall be deemed to be given when so
mailed. Any notice so addressed and otherwise delivered shall be deemed to be
given when actually received by the addressee.

SECTION 13.  No Rights as Stockholder; Limitation of Liability.  This Warrant
             -------------------------------------------------
shall not entitle the Holder to any of the rights of a shareholder of the
Company except upon exercise in accordance with the terms hereof. No provision
hereof, in the absence of affirmative action by the Holder to purchase shares of
Common Stock, and no mere enumeration herein of the rights or privileges of the
Holder, shall give rise to any liability of the Holder for the Warrant Price
hereunder or as a shareholder of the Company, whether such liability is asserted
by the Company or by creditors of the Company.

SECTION 14.  Law Governing.  THE VALIDITY, INTERPRETATION, AND ENFORCEMENT OF
             -------------
THIS WARRANT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF ILLINOIS WITHOUT GIVING EFFECT TO THE CONFLICT OF LAW PRINCIPLES
THEREOF.

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<PAGE>

SECTION 15.  Miscellaneous.  This Warrant and any provision hereof may be
             -------------
changed, waived, discharged or terminated only by an instrument in writing
signed by both parties (or any respective predecessor in interest thereof).  The
headings in this Warrant are for purposes of reference only and shall not affect
the meaning or construction of any of the provisions hereof.

     IN WITNESS WHEREOF, the Company has caused this Warrant to be signed by its
duly authorized officer this 2nd day of July, 1998.

                              REPROGENESIS, INC.
[CORPORATE SEAL]

                              By:  /s/ William D. Romeo
                                   ------------------------------------

                              Title: V.P. Finance & CFO

                                      -8-<PAGE>

                                                                   Exhibit 10.41

                                                                  Execution Copy
                                                                  --------------

                             EMPLOYMENT AGREEMENT
                             --------------------

     THIS EMPLOYMENT AGREEMENT (the "Agreement"), made as of the 17th day of
June, 1996, is entered into by Ontogeny, Inc., a Delaware corporation, and Doros
Platika (the "Employee").

     The Company desires to employ the Employee, and the Employee desires to be
employed by the Company.  In consideration of the mutual covenants and promises
contained herein, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged by the parties hereto, the parties
agree as follows:

     1.   Employment. Commencing as of June 17, 1996, the Company agrees to
          ----------
employ the Employee, and the Employee accepts employment with the Company, upon
the terms set forth in this Agreement. The period during which the Employee is
employed by the Company hereunder is referred to as the "Employment Period."

     2.   Position.
          --------

          (a) The Employee shall serve as President and Chief Executive Officer
of the Company. The Employee shall have duties and authority consistent with his
position as President and Chief Executive Officer. The Employee shall report to,
and be subject to the supervision of, the Board of Directors of the Company (the
"Board"). The Employee agrees to devote his entire business time to the business
and interests of the Company during the Employment Period.

          (b) During the Employment Period, the Company shall use its best
efforts to cause the election of the Employee to the Board. Upon termination of
the Employment Period, the Employee shall be deemed to have automatically
resigned as a member of the Board; such resignation shall be effective
immediately without the requirement of any further written notice.
<PAGE>

          (c) The Employee agrees to abide by the rules, regulations,
instructions, personnel practices and policies of the Company and any changes
therein which may be adopted from time to time by the Company.

     3.   Compensation and Benefits.
          -------------------------

          3.1  Salary. The Company shall pay the Employee, in monthly
               ------
installments, a base salary of $250,000 per annum. Such salary shall be subject
to annual review by the Board.

          3.2  Bonus.  The Employee's annual bonus shall be determined by the
               -----
Board and shall be based on the achievement of specific objectives established
by the Board. Such bonus may be paid in the form of cash or additional shares of
Common Stock of the Company (or options therefor).

          3.3  Benefits; Vacation.  The Employee shall be entitled to
               ------------------
participate in all medical and other benefit programs that the Company
establishes and makes available to its employees, if any, to the extent that
Employee's position, tenure, salary, age, health and other qualifications make
him eligible to participate. The Employee shall be entitled to four weeks paid
vacation per year.

          3.4  Reimbursement of Expenses.  The Company shall reimburse the
               -------------------------
Employee for all reasonable travel, entertainment and other expenses incurred or
paid by the Employee in connection with, or related to, the performance of his
duties, responsibilities or services under this Agreement, upon presentation by
the Employee of documentation, expense statements, vouchers and/or such other
supporting information as the Company may request, provided, however, that the
                                                   --------  -------
amount available for such travel, entertainment and other expenses may be fixed
in advance by the Board.

                                       2
<PAGE>

          3.5  Relocation Expenses.  The Company shall reimburse the Employee
               -------------------
for reasonable moving and travel expenses not to exceed $30,000, incurred by him
in moving himself and his immediate family from Columbus, Ohio to the Boston,
Massachusetts area. Such reimbursement will include the Employee's travel costs
in connection with his acquisition of a residence in Massachusetts and weekly
trips between Ohio and Massachusetts.

          3.6  Insurance.  During the Employment Period, the Company shall
               ---------
purchase and maintain, if available, $3 million of insurance on the life of the
Employee, with $2 million of the proceeds payable, to the Company and $1 million
payable to the Employee's designated beneficiaries. Upon the termination of
Employee's employment hereunder, Employee shall have the right to purchase any
such insurance from the Company, to the extent permitted by such policy, for an
amount equal to the actual premiums thereon previously paid by the Company.

     4.   Equity.
          ------

          (a) The Company shall issue and sell to the Employee 400,000 shares of
its Common Stock ("Common Stock"), at a purchase price of $.15 per share,
vesting in equal monthly installments over the five-year period ending June 30,
2001 or, at the election of the Employee, shall grant to the Employee a stock
option for such shares, at an exercise price of $.15 per share, vesting on the
same basis. Such shares (or options) shall become fully vested immediately upon
the earliest of: (i) the death of the Employee; (ii) the Disability (as defined
below) of the Employee; (iii) the termination of the Employee by the Company
without Cause (as defined below); (iv) the resignation of the Employee for Good
Reason (as defined below); or (v) a Change in Control (as defined below).

          (b) The Company shall issue and sell to the Employee an additional
400,000 shares of its Common Stock, at a purchase price of $.15 per share,
vesting in equal monthly

                                       3
<PAGE>

installments during the fourth through seventh year of the Employee's employment
with the Company or, at the Employee's election, shall grant to the Employee a
stock option for such shares, at an exercise price of $.15 per share, vesting on
the same basis. The vesting of such shares or option shall accelerate upon the
closing of any of the following events (each, a "Change in Control"): (i) a
merger or consolidation of the Company with any other entity, other than (A) a
merger or consolidation which would result in the holders of the voting
securities of the Company outstanding immediately prior thereto continuing to
hold more than 50% of the combined voting power of the voting securities of the
Company or such surviving entity outstanding immediately after such merger or
consolidation or (B) a merger or consolidation effected to implement a
recapitalization of the Company (or similar transaction) in which no Person
(hereinafter defined), other than the holder or holders of more than 50% of the
combined voting power of the Company's outstanding securities immediately prior
to such recapitalization, acquires more than 50% of the combined voting power of
the Company's then outstanding voting securities; or (ii) any transaction which
results in any Person (or related group of Persons) beneficially owning more
than 50% of the outstanding voting securities of the Company, or (iii) the first
sale or disposition by the Company of all or substantially all of the Company's
assets in a single transaction or pursuant to a series of transactions related
by agreement or plan. For purposes of the foregoing, "Person" shall mean a
corporation, individual, partnership, limited liability company, trust or other
entity.

     (c) The issuance of shares or options under this Section 4 shall be
evidenced by a Stock Restriction Agreement or Stock Option Agreement, as the
case may be, in the form and upon the terms provided to the Employee by the
Company.

                                       4
<PAGE>

     (d) During the Employment Period and, if the Employee's employment is
terminated by the Company without Cause or by the Employee for Good Reason,
during the period of three years after such termination, if the Company engages
in an underwritten public offering of its Common Stock and if any officers of
the Company are permitted by the Company and the underwriters to sell any of
their shares of Common Stock in such offering ("management shares"), then the
Employee shall be permitted to include in such offering a pro rata share of the
total number of management shares entitled to be included. Such pro rata share
shall be based on the ratio of the number of vested shares of Common Stock, or
options therefor, then held by the Employee to the aggregate number of
management shares included in the offering. If the Employee elects to include
shares in such offering, he shall execute an underwriting agreement for such
offering and comply with such other requirements as are customary for selling
stockholders in an underwritten public offering. If so requested by the managing
underwriters of the Company's initial public offering of Common Stock, the
Employee shall not sell publicly (other than in the underwritten offering) any
shares of Common Stock during such period following the effective date of such
offering, not to exceed 180 days, as may be requested by the managing
underwriters, provided that this sentence shall apply only if all then executive
              --------
officers and members of the Board of Directors also agree not to sell shares of
Common Stock during the same period.

     (e) As used in this Agreement, the following terms shall have the following
respective meanings:

         (i) "Cause" shall mean (a) fraud, embezzlement or theft by the Employee
in connection with his duty to the Company or in the course of his employment
with the Company; (b) a breach of this Agreement by the Employee, which is not
cured within thirty (30) days after notice thereof to the Employee; or (c) the
Employee's engaging in misconduct injurious to the Company which is not cured,
to the reasonable satisfaction of the Board of Directors, within thirty

                                       5
<PAGE>

(30) days after notice thereof is given to the Employee.

              (ii)  "Good Reason" shall mean (a) any significant diminution in
the Employee's position, duties, power or title; (b) any reduction in his annual
base salary; (c) any breach by the Company of this Agreement which is not cured
within thirty (30) days after notice of such breach by the Employee to the
Company; (d) any requirement by the Company or of any person in control of the
Company that the location at which the Employee performs his principal duties
for the Company be changed to a new location that is more than forty (40) miles
from the current principal location of the Company; (e) any material breach of
this Agreement by the Company which is not cured within 30 days after written
notice thereof, or (f) the failure of the Company to obtain a reasonably
satisfactory agreement from any successor to the business of the Company to
assume and agree to perform this Agreement, as contemplated by Section 14 below.

              (iii) "Disability" shall be deemed to occur if, as a result of the
Employee's incapacity due to physical or mental illness, the Employee shall have
been absent from the full-time performance of his duties with the Company for
six consecutive months.

     5.   Loan.
          ----

          (a) The Company has lent to the Employee $500,000, of which $5,000
(together with all accrued interest on such $5,000) shall be forgiven at the end
of each full month of the Employee's employment with the Company during his
first five years of employment with the Company. In addition, the then unpaid
principal amount of, and all accrued but unpaid interest on, such loan shall be
forgiven in the event that (i) the Employee terminates his employment hereunder
by reason of any material breach of this Agreement by the Company

                                       6
<PAGE>

which is not cured within 30 days after written notice thereof; or (ii) the
Company terminates the Employee's employment hereunder without Cause and for any
reason other than a determination by the Board that the Employee is not
effective in the performance of his responsibilities as President and Chief
Executive Officer of the Company. The Company shall pay to the Employee a bonus
in the amount of any federal and state income tax payable by him as a result of
any such forgiveness, as well as any federal and state income taxes payable by
the Employee with respect to bonuses paid under this sentence; such bonus shall
be paid at the time such tax payments are payable by the Employee. Such loan
shall bear interest at the applicable federal interest rate for loans of such
duration. Such loan shall be secured by a mortgage on the Employee's house and
the shares of Common Stock held by the Employee. The principal of, and interest
on, such loan, to the extent not forgiven, shall be due and payable on the
earliest of (i) June 30, 2003, (ii) thirty (30) days after the Employee's
resignation as an employee of the Company without Good Reason, and (iii) one
year after termination of the Employee's employment with the Company for any
reason other than voluntary resignation without Good Reason. Such loan shall be
evidenced by a Note in the form attached hereto as Exhibit A.
                                                   ------- -

          (b) The Company shall lend to the Employee $100,000, which shall be
due and payable on June 30, 1997. Such loan shall bear interest at the minimum
applicable federal interest rate for loans of such duration. Such loan shall be
secured by a mortgage on the Employee's house. Such loan shall be evidenced by a
Note in the form attached hereto as Exhibit A-1.
                                    ------- ---

     6.   Termination.
          -----------

          (a) The Company has the right to terminate the Employee's employment
under this Agreement, by notice to the Employee in writing at any time (i) for
Cause, (ii) without
                                       7
<PAGE>

Cause for any or no reason, or (iii) due to the Disability of the Employee. Any
such termination shall be effective upon the date of such notice to the Employee
or such other date as may be specified in such notice.

          (b) Employee's employment under this Agreement shall terminate
immediately upon the Employee's death.

          (c) The Employee shall have the right to terminate his employment
under this Agreement (i) for any reason or no reason upon sixty (60) days' prior
written notice to the Company or (ii) for Good Reason upon thirty (30) days'
prior written notice specifying such Good Reason.

     7.   Compensation upon Termination.
          -----------------------------

          (a) If the Employment Period is terminated (i) by the Company without
Cause or due to the death or Disability of the Employee, or (ii) by the Employee
for Good Reason, then the Company shall (A) pay to the Employee his base salary
accrued through the date of termination, and (B) pay to the Employee, or his
estate, in equal bi-weekly installments over a twelve-month period following
such termination, a severance amount equal to his annual base salary as in
effect at the time of termination; provided, however, that such severance
payments during the second six months of such twelve-month period shall be
reduced by the amount of any compensation earned by the Employee as an employee
or a consultant for another person or entity during such six-month period.

          (b) If the Employment Period is terminated by the Company for Cause or
by the Employee without Good Reason, the Company shall (i) pay to the Employee
his base salary accrued through the date of termination, and (ii) pay to the
Employee, in equal bi-weekly
                                       8
<PAGE>

installments over a two-month period, a severance amount equal to one-sixth of
his annual base salary as in effect at the time of termination.

        (c) The Employee shall not be required to mitigate the amount of any
payment provided for in this Section 7 by seeking other employment or otherwise.

     8. Non-Compete. The Employee shall sign the form of Non-Compete and Non-
        -----------
Solicitation Agreement in the form attached hereto as Exhibit B.

     9. Invention and Non-Disclosure Agreement. The Employee shall sign the form
        --------------------------------------
of Invention and Non-Disclosure Agreement in the form attached hereto as Exhibit
                                                                         -------
C.
-
     10. Notices. All notices required or permitted under this Agreement shall
         -------
be in writing and shall be deemed effective upon personal delivery or upon
deposit in the United States Post Office, by registered or certified mail,
postage prepaid, addressed to the other party at the address shown above, or at
such other address or addresses as either party shall designate to the other in
accordance with this Section 10.

     11. Entire Agreement. This Agreement constitutes the entire agreement
         ----------------
between the parties and supersedes all prior agreements and understandings,
whether written or oral, relating to the subject matter of this Agreement.

     12. Amendment. This Agreement may be amended or modified only by a written
         ---------
instrument executed by both the Company and the Employee.

     13. Governing Law. This Agreement shall be construed, interpreted and
         -------------
enforced in accordance with the laws of the Commonwealth of Massachusetts.

     14. Successors and Assigns. The Company will require any successor (whether
         ----------------------
direct or indirect, by purchase, merger, consolidation or otherwise) to all or
substantially all of the business or assets of the Company expressly to assume
and agree to perform this Agreement to

                                       9
<PAGE>

the same extent that the Company would be required to perform it if no such
succession had taken place. As used in this Agreement, Company shall mean the
Company as defined above and any successor to its business or assets which
assumes and agrees to perform this Agreement by operation of law, or otherwise.

     15.  Miscellaneous.
          -------------

          15.1 No delay or omission by the Company in exercising any right under
this Agreement shall operate as a waiver of that or any other right. A waiver or
consent given by the Company on any one occasion shall be effective only in that
instance and shall not be construed as a bar or waiver of any right on any other
occasion.

          15.2 There shall be deducted from any payments provided for hereunder
any applicable withholding taxes required under federal, state or local law.

          15.3 The captions of the sections of this Agreement are for
convenience of reference only and in no way define, limit or affect the scope or
substance of any section of this Agreement.

          15.4 In case any provision of this Agreement shall be invalid, illegal
or otherwise unenforceable, the validity, legality and enforceability of the
remaining provisions shall in no way be affected or impaired thereby.

                                       10
<PAGE>

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the day and year set forth above.

                                                ONTOGENY, INC.

                                                By:
                                                   -----------------------------
                                                Title:
                                                      --------------------------

                                                EMPLOYEE

                                                --------------------------------
                                                Doros Platika

                                       11

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