Document:

Exhibit 10.6

 

 

MEMORANDUM OF UNDERSTANDING

 

 

THIS MEMORANDUM OF UNDERSTANDING is entered into on 27th
day of November 2013 by and between [GALMED Pharmaceuticals Ltd. And affiliates], a company incorporated under the laws of Israel
(“Galmed”) and Guangdong Xianqiang Pharmaceutical Co., Ltd., a limited company incorporated under the laws of the People’s
Republic of China (“Xianqiang”).

 

		1.	Galmed and its affiliated companies are a clinical stage
biopharmaceutical group of companies primarily focused on the development and commercialization of novel therapeutics to treat
liver diseases utilizing its proprietary family of synthetic fatty-acid/bile-acid conjugates, or FABACs.

 

		2.	Galmed is presently developing its patented drug, Aramchol,
to treat certain liver diseases and is the owner of certain proprietary intellectual property connected with the said drug and
its use in the treatment of certain liver diseases.

 

		3.	Xianqiang, a part of the Hong’an Group, is a medical
research, development and manufacturing company situated in Guangdong in the People’s Republic of China (“China”).

 

		4.	The parties are interested in entering into an agreement
under the following terms:

 

		a.	Galmed shall grant the Xianqiang an exclusive, non-transferable,
non-assignable, non-sub-licensable, license to test, manufacture, sell, market and distribute Aramchol in China (which does not
include Hong Kong, Taiwan or Macau) for the treatment of liver diseases only. The license shall be for such period and include
such additional terms and conditions, including royalties to Galmed, as shall be agreed between the parties.

 

		b.	All patent applications in connection with Aramchol shall
be filed in the name of Galmed.

 

		c.	Xianqiang will finance all trials, tests, clinical studies and other activities necessary to
                                                                                                         secure marketing approval of Aramchol from the relevant regulatory bodies in China for the sale of Aracmol in China, and
                                                                                                         thereafter shall fund the marketing, sales and distribution of Aramchol in China. A budget for the above activities including
                                                                                                         the minimal committed capital by Xianqiang shall be agreed by the parties.

 

		d.	The parties will agree on a development plan (“Development
Plan”) funded by Xianqiang pursuant to which the Xianqiang will conduct the research in accordance with the Development
Plan. The results generated in the performance of the Development Plan shall be owned by Xianqiang.

 

 

    	 

    	 

    

 

 

		e.	The parties shall negotiate the terms of the necessary
agreements with a view to signing definitive agreements within [60] days of the date hereof.

 

		5.	 This Memorandum of Understanding is a non-binding document
prepared for discussion purposes only, and nothing herein shall be deemed to represent a binding obligation of either of the parties.
Closing of the transactions contemplated hereby are subject to the following: (a) satisfactory completion of due diligence by
both parties of the other party’ s capabilities and other standard due diligence requirements; (b) negotiation, drafting
and agreement by the parties on final and definitive agreements; and (c) approval of the definitive agreements by the relevant
corporate governing bodies within Galmed and Xianqiang.

 

		6.	As soon as practical following the signing of this Memortandum
of Understanding, the parties shall negotiate in good faith a Confidentiality and Non-Disclosure Agreement (“NDA”).
Upon the signing of the NDA, the parties shall commence their due diligence reviews.

 

 

		7.	This Memorandum of Understanding shall be governed by
and construed according to the laws Hong Kong, without regard to the conflict of laws provisions thereof. The parties hereby irrevocably
and unconditionally submit to the exclusive jurisdiction of the courts in Hong Kong in respect of any matter arising in connection
with this Memorandum of Understanding.

 

    	 

    	 

    

 

 

IN WITNESS WHEREOF the parties have executed this Memorandum
of Understanding as of the date first hereinabove set forth.

 

 

[GALMED Pharmaceuticals 

Ltd. And affiliates]

 

 

 

	By:	/s/ Allen Baharaff
	 	 
	Name:	Allen Baharaff
	 	 
	Title:	CEO

 

 

Cuangdong Xianqiang

Pharmaceutical Co., Ltd.Exhibit 10.7

 

 

 

 

Memorandum
of Understanding

Between

Galmed
Pharmaceuticals and Zora Biosciences

 

 

Pursuant
to discussions held between our companies. Galmed Pharmaceuticals (hereinafter “Galmed”) and Zora Biosciences
(hereinafter “Zora”) agree to explore opportunities to collaborate in the field of lipidomic profiling.

 

Galmed
develops innovative, proprietary drugs (fatty acid bile-acid conjugates) for the treatment of cholesterol and liver diseases.
The most advanced compound in the series is Aramchol (arachidyl amido cholanoic acid), which is currently in clinical studies.

 

Zora develops lipid-based biomarkers for diagnostic industry and provides lipidomic services for pharmaceutical research.

 

Therefore,
this Memorandum of Understanding aims at setting forth the general terms and conditions upon which Galmed and Zora are prepared
to enter in further collaboration agreement.

 

-Scope
of the study:

		o	Develop
                                         a NASH disease clinical diagnostic tool which IP will be owned by Zora

		o	Develop
                                         a clinical diagnostic tool for patients on Aramchol treatment (companion diagnostic)
                                         which IP will be owned by Galmed .

 

- Overview:

		o	Galmed
                                         intends to initiate a multi centre multi nation phase IIb study aiming to evaluate the
                                         Efficacy and Safety of Aramchol Versus Placebo in Patients With Non-Alcoholic Steatohepatitis
                                         (“NASH”).

		o	Galmed
                                         will collect liver tissue samples from biopsies and serum samples from patients enrolled
                                         in the Israeli based centers in the study, according to specifications which will be
                                         provided by Zora, at baseline and at the end of the phase IIb study. Zora will perform
                                         lipidomic profiling analysis based on the tissue and serum samples taken from the patients.

 

- Contribution
of parties:

		o	Galmed
                                         will perform and provide access to biopsy and serum samples from the phase IIb patients
                                         (patients screened and enrolled in Israel to the study) and will provide patients clinical data (including liver biopsy results and MRI results).

		o	Zora
                                         will provide sampling methods and will perform lipidomic profiling to generate molecular
                                         lipid quantification data (“lipidomic data”).

		o	The lipidomic
                                         analyses will be executed with a Fee-for-service principle. In case patentable IP is
                                         generated for Zora, 40 % of the fees shall be compensated to Galmed.

 

- Expected
results/outcomes:

		o	From
                                         Lipidomic data generated throughout the collaboration, the parties expect a) to develop
                                         a NASH disease clinical diagnostic tool and generate Lipidomic profiles correlated with disease progression of patients which IP will be owned by Zora. b) Develop a clinical diagnostic tool for patients on Aramchol treatment (companion diagnostic) which
                                         IP will be owned by Galmed.

 

    	 

    	 

    

 

- Exploitation
of data and results

		o	Each
                                         parties remains sole owner of their background IP.

		o	Galmed
                                         will be sole owner of clinical data generated throughout the collaboration. Galmed will
                                         grant Zora a free license for using clinical data associated to patients in the frame
                                         only for developing biomarkers and related diagnostic in the field of NASH.

		o	Zora
                                         will grant Galmed for a free license to use Lipidomic data generated throughout the study
                                         only for developing a clinical diagnostic tool for patients on Aramchol treatment.

		o	Upon
                                         successful completion of the phase IIB study, Zora will grant Galmed for a right of first
                                         discussion to enter business transaction regarding commercial exploitation of Zora’s
                                         proprietary NASH disease clinical diagnostic tool based upon the data generated during
                                         the collaboration.

		o	Rights
                                         for mutual publications.

 

 

The
principles of the project and detailed arrangements will be set forth in a definitive agreement between the parties.Europa
Capital Investments, LLC

100
Europa Drive

Suite
455

Chapel
Hill, NC 27517

 

November
8, 2011

 

Tabacalera
Ysidron, Inc.

307
October Glory Lane 

Apex,
NC 27539

 

Dear
Steven Ysidron,

 

This
letter will serve as our agreement to provide administrative and other miscellaneous services to Tabacalera Ysidron, Inc. Europa
Capital services will also from time to time include help with various transactions that the company may be considering.

 

Europa
Capital Investments, LLC will bill Tabacalera Ysidron, Inc. $5,000 a month to cover the monthly retainer and some incidental expenses
that might occur. Europa Capital will also submit bills associated with transactions directly to the company to be paid.

 

This
agreement will remain in effect until one or the other party informs the other that the agreement is ending.

 

Sincerely,

 

Peter
Coker 

Managing
Director

 

	Accepted:	/s/ Steven Ysidron	 

Steven
Ysidron, President

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