Document:

Exhibit 10.15

                               EUROPEAN AGREEMENT

         THIS AGREEMENT (the "European Agreement"), is made as of this 2nd day
of March, 2001 (the "Effective Date") between NAPRO BIOTHERAPEUTICS, INC., a
corporation organized under the laws of the State of Delaware with its principal
place of business at 6304 Spine Road, Unit A, Boulder, Colorado 80301, United
States of America, and CENTRAL LABORATORIES, LIMITED a corporation organized
under the laws of Ireland with an address Unit 31A, Ravensrock Road, Sandyford
Industrial Estate, Foxrock, Dublin 18 Ireland.

                                    RECITALS:

         WHEREAS, NaPro and F.H. Faulding & Co., Ltd. (a Faulding Affiliate)
have entered into an Amended and Restated Master Agreement as of the 5th day of
June, 2000 which relates to the manufacture and distribution of paclitaxel in
certain territories (the "Master Agreement");

         WHEREAS, the parties wish to expand their cooperation and activities
into certain territories not covered in the Master Agreement;

         WHEREAS, the parties deem it advisable to enter into this European
Agreement to govern the parties' activities with respect to the Field in the
European Territory (as such terms are defined below). The parties wish to leave
the Master Agreement in place to govern the parties' activities with respect to
territories other than the European Territory.

         NOW, THEREFORE, in consideration of the mutual covenants contained
herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereby enter into this
European Agreement, as follows:

1                          DEFINITIONS

         1.1 In this European Agreement, the following terms when used with
         initial capital letters shall have the meanings set forth below:

                  "Affiliate" shall mean with respect to a Person, any other
                  person controlling, controlled by or under common control with
                  such Person.

                  "Annual Forecast" shall have the meaning set forth in Section
                  3.10.1.

                  "Commercial Use" shall mean use of a Formulated Product in a
                  particular country in the European Territory for alleviating
                  or curing a cancer indication in humans, once Registration has
                  been obtained in that country for that indication.

                  "Compassionate Use" shall mean use of a Formulated Product in
                  a particular country in the European Territory for alleviating
                  or curing a cancer indication in humans, prior to Registration
                  of that product in that country for that indication (e.g.
                  named patient sales).

                  "Confidential Information" shall have the meaning set forth in
                  Article 7.

                  "Dollars or $" shall mean U.S. Dollars.

                  "European Territory" shall mean the countries listed on
                  Exhibit A attached hereto.

                  "Ex works" shall mean such delivery term as defined in the
                  current edition of the International Chamber of Commerce
                  publication "Incoterms."

                  "Faulding" shall mean Central Laboratories, Limited, a
                  corporation organized under the laws of Ireland, and its
                  Affiliates.

                  "Faulding Trademark(s)" shall mean one or more trademarks,
                  trade names, or service marks that are owned or licensed by or
                  on behalf of Faulding which Faulding may use from time to time
                  in connection with the sale or promotion of the Formulated
                  Product.

                  "Field" shall mean the development, manufacture, import, use,
                  marketing, promotion, offer for sale, sale and distribution of
                  Formulated Product.

                  "Formulated Product" shall mean [THIS PORTION HAS BEEN
                  REDACTED]

                  [THIS PORTION HAS BEEN REDACTED]

                  "GMP" shall mean good pharmaceutical manufacturing practice as
                  required by any governmental authority in any country in the
                  European Territory whose approval of Product is required.

                  "IVAX Agreement" shall mean that certain Termination Agreement
                  between Baker Norton Pharmaceuticals, Inc., a division of IVAX
                  Corporation, dated as of March 20, 1998.

                  "Loss" shall mean all loss, damage, cost and expense,
                  including reasonable attorney's fees.

                  "Major Market" shall mean [THIS PORTION HAS BEEN REDACTED]

                  "Master Agreement" shall have the meaning set forth in the
                  Recitals.

                  "NaPro" shall mean NaPro Biotherapeutics, Inc., a corporation
                  organized under the laws of the State of Delaware, and its
                  Affiliates.

                   "NaPro Patents" shall mean [THIS PORTION HAS BEEN REDACTED]

                   "Net Sales Price" shall mean [THIS PORTION HAS BEEN REDACTED]

                  "Paclitaxel" shall mean the chemical entity of the formula set
                  forth in Exhibit C.

                  "Person" shall mean any company, corporation, partnership,
                  trust, or any other legal entity.

                  "Product" shall mean Paclitaxel as specified in Exhibit D, as
                  may be amended by written mutual agreement from time to time,
                  and manufactured according to, without limitation, the
                  Specifications, the Registration and GMP.

                  "Registration" shall mean the final approval of registrations
                  and permits required by applicable government and regulatory
                  authorities in a particular country in the European Territory
                  to import into and market, sell and distribute Formulated
                  Product for human use to the general public or any part
                  thereof in that country. Registration shall not include
                  agreement on pricing with appropriate authorities.

                  "Rejection" shall mean:

                  (a) in the case of an application for Registration in a
                  particular country:

                           (i)      the classification of such application as
                  "not approvable" or "not approved",
                                    or

                           (ii)     any formal suspension of consideration of
                  the application; and

                  (b) in the case of a product for which a Registration has been
                  obtained in a particular country, the suspension, cancellation
                  or non-renewal of the Registration.

                  "Safety Stock" shall have the meaning set forth in Section
                  3.5.3.

                  "Section 3.1 Obligations" shall mean the obligations of
                  Faulding pursuant to Sections 3.1.1, 3.1.2.1, and Section
                  3.1.3, collectively.

                  "Specification" shall mean the specification for the Product
                  set forth in Exhibit D and the Registrations, as such
                  specification may be amended from time to time, either by
                  mutual agreement of the parties or in response to directives
                  issued by a relevant governmental authority in connection with
                  the Registration or marketing of the Formulated Product in a
                  particular jurisdiction. All Product supplied by NaPro shall
                  be manufactured according to GMP.

                  "Target Market Share" shall mean [THIS PORTION HAS BEEN
                  REDACTED]

2                          Master Agreement; TERM; Licensing Fee

         2.1 Survival of the Master Agreement. This European Agreement shall
         govern the relationship, obligations, limitations, and rights of the
         parties solely with respect to the Field and the European Territory and
         the transactions contemplated hereunder. The Master Agreement shall
         govern the relationship, obligations, limitations, and rights of the
         parties with respect to territories other than the European Territory
         and outside the Field and other transactions not contemplated
         hereunder; provided that in the event of any conflict between the terms
         and conditions of this European Agreement and the terms and conditions
         of the Master Agreement, the terms and conditions of this European
         Agreement shall govern and control with respect to the European
         Territory, and the Master Agreement shall govern and control with
         respect to territories set forth therein.

         2.2 Term. This European Agreement shall commence on the Effective Date
         and shall continue, unless terminated earlier pursuant to the terms of
         this European Agreement, for an initial period until March 22, 2013.
         Thereafter, this European Agreement shall continue from year to year,
         unless terminated on the anniversary thereof by one party giving
         written notice to the other party at least one hundred and eighty (180)
         days prior to the expiration of the initial term or any subsequent one
         (1) year term.

         2.3 Grant of Rights. NaPro hereby grants to Faulding the exclusive
         (such exclusivity limited as set forth herein) license and right (with
         the right to sublicense) to, directly or indirectly, develop,
         manufacture, import, use, market, promote, offer to sell, sell and
         distribute Formulated Product in the European Territory in accordance
         with the terms and conditions of this European Agreement.

         2.4 Licensing Fee. Within ten (10) business days of the Effective Date,
         Faulding shall pay to NaPro a license fee of seven million, five
         hundred thousand dollars (US$7,5000,000).[THIS PORTION HAS BEEN
         REDACTED] In the event NaPro does not obtain registration [THIS PORTION
         HAS BEEN REDACTED] NaPro shall pay Faulding the sum of [THIS PORTION
         HAS BEEN REDACTED]. In no event shall NaPro be obligated to pay
         Faulding pursuant to this Section 2.4 and/or Section 5.6 below, in
         excess of [THIS PORTION HAS BEEN REDACTED] .

3        Certain Obligations

         3.1      Requirements and Exclusivity.

                  3.1.1 Subject to the terms and conditions of this European
                  Agreement, (a) NaPro shall provide, supply and sell Paclitaxel
                  exclusively to Faulding for use in the Field within the
                  European Territory, and to no other Person, and (b) Faulding
                  shall purchase all of its requirements of Paclitaxel
                  exclusively from NaPro for use in the Field within the
                  European Territory and from no other Person.

                  3.1.2 To the extent such obligations are in accordance with
                  applicable law, NaPro shall prohibit any Person with whom
                  NaPro has supply agreements or arrangements or licenses, or
                  other agreements relating to Paclitaxel from, directly or
                  indirectly, making any use of or selling (including, without
                  limitation, research, developmental and/or commercial use,
                  sale and/or supply) any product containing Paclitaxel in the
                  European Territory in the Field, or from assisting any person
                  or entity in doing so. [THIS PORTION HAS BEEN REDACTED].

                                     3.1.2.1  [THIS PORTION HAS BEEN REDACTED].

                                     3.1.2.2  Without NaPro's prior written
                                              consent, Faulding shall not use
                                              any NaPro Confidential
                                              Information except for use in
                                              the Field in the European
                                              Territory pursuant to and
                                              during the term of this
                                              European Agreement.

                  3.1.3  [THIS PORTION HAS BEEN REDACTED]

         3.2      Notwithstanding anything contained in this European Agreement
to the contrary:

                        3.2.1   if NaPro has failed to obtain Registration for
the [THIS PORTION HAS BEEN REDACTED].

                        3.2.2   in the event that [THIS PORTION HAS BEEN
REDACTED].

                        3.2.3     if NaPro does not diligently and actively
pursue procurement of Registration, or does not achieve meaningful progress in
its attempts to obtain Registration, in any country in the European Territory
for which NaPro has the responsibility for obtaining Registration;

                          then

                                   (a)      [THIS PORTION HAS BEEN REDACTED]

                                   (b)       [THIS PORTION HAS BEEN REDACTED]

             3.3.     [THIS PORTION HAS BEEN REDACTED]

                       3.3.1        [THIS PORTION HAS BEEN REDACTED]

                       3.3.2        [THIS PORTION HAS BEEN REDACTED]

         3.5      NaPro's Supply Obligations

                  3.5.1 Provided that Faulding has provided to NaPro the
                  forecasts required pursuant to Section 3.10.1 within [THIS
                  PORTION HAS BEEN REDACTED] of the dates set forth therein and
                  provided that the amounts reflected in the Annual Forecast do
                  not vary by more than [THIS PORTION HAS BEEN REDACTED]from the
                  amounts in the updated interim forecasts, NaPro shall supply
                  Faulding with the amount of Product specified by Faulding in
                  the Annual Forecast, no later than [THIS PORTION HAS BEEN
                  REDACTED] after the dates requested by Faulding, and shall use
                  its reasonable commercial efforts to supply such Product
                  according to Faulding's requested delivery schedule and in any
                  event not later than thirty days from the date specified in
                  such delivery schedule. Subject to Faulding meeting its
                  forecasting obligations as set forth above, NaPro shall be
                  required to supply Faulding with all of Faulding's
                  requirements of Product. Upon receipt of each quarterly
                  forecast from Faulding, the parties shall confer and use their
                  best efforts to determine whether or not NaPro will be able to
                  supply Faulding with the amounts of Product in the various
                  countries within the European Territory throughout the twelve
                  month period covered by the forecast. NaPro shall promptly
                  advise Faulding in writing if at any time during the term of
                  this European Agreement, NaPro believes that it will be unable
                  to supply Faulding with Product which Faulding has forecasted
                  for any use in any country or countries in the European
                  Territory, specifying the amount of Product that it will be
                  unable to supply.

                  3.5.2 Beginning with the Product to be delivered by NaPro
                  after [THIS PORTION HAS BEEN REDACTED] that Faulding has
                  specified in any of its purchase orders or shipping schedules
                  to be used in any country or countries in the European
                  Territory, if NaPro

                                        (a) advises Faulding in writing, as set
                  forth above, that it will not be able to  supply Product for
                  such country, or

                                        (b) fails to supply Faulding with
                  Product within [THIS PORTION HAS BEEN REDACTED] after the date
                  specified by Faulding in its shipping schedule, then:

provided that Faulding has submitted to NaPro the forecasts required pursuant to
Section 3.10.1 within seven (7) days of the dates set forth therein, and
provided that the amounts reflected in the Annual Forecast do not vary by more
than [THIS PORTION HAS BEEN REDACTED]rom the amounts in the updated interim
forecasts, NaPro shall pay to Faulding (as liquidated damages for failure to
supply) an amount equal to [THIS PORTION HAS BEEN REDACTED]

                  3.5.3 NaPro shall maintain a Safety Stock of the Product at a
                  facility or facilities of Faulding designated by Faulding
                  within six month's of the commercial launch of the Formulated
                  Product in each country in the European Territory. If NaPro
                  controls such facilities then NaPro shall bear the risk of
                  loss with respect to such Safety Stock; and if Faulding
                  controls such facilities then Faulding shall bear the risk of
                  loss with respect to such Safety Stock. NaPro or Faulding, as
                  the case may be, shall use the same standard of care with
                  respect to the Safety Stock as it uses with its own inventory.
                  [THIS PORTION HAS BEEN REDACTED]. To the extent the Safety
                  Stock falls below the minimum level set forth above, Faulding
                  shall notify NaPro in writing and NaPro shall use diligent and
                  commercially reasonable efforts to replenish the Safety Stock
                  [THIS PORTION HAS BEEN REDACTED]. The initial purchase price
                  for such Safety Stock payable by Faulding to NaPro shall be
                  [THIS PORTION HAS BEEN REDACTED] If the quantity of such
                  Safety Stock is reduced by Faulding, through commercial sales
                  or other uses requiring payment to NaPro pursuant to Sections
                  3.7.1 or 3.8, then [THIS PORTION HAS BEEN REDACTED]

If NaPro determines that it will be unable to supply Product to Faulding then,
provided that Faulding has provided to NaPro the forecasts required pursuant to
Section 3.10.1 [THIS PORTION HAS BEEN REDACTED] of the dates set forth therein,
and provided that the amounts reflected in the Annual Forecast do not vary by
more than [THIS PORTION HAS BEEN REDACTED] from the amounts in the updated
interim forecasts, NaPro shall elect to either: (a) continue to pay Faulding the
liquidated damages as set forth in Section 3.5.2 above for any period in which
NaPro is unable to supply; or (b) transfer to Faulding NaPro's Registration
dossiers with respect to the Formulated Product in each country in the European
Territory that NaPro was unable to supply the Product, and [THIS PORTION HAS
BEEN REDACTED]. Such license terms between NaPro and Faulding for [THIS PORTION
HAS BEEN REDACTED] NaPro shall make the election set forth in subparagraph (b)
above by giving Faulding six months prior written notice, provided that NaPro
has complied with its obligations to provide Safety Stock pursuant to Section
3.5.3 hereof. If NaPro has not complied with its obligations to provide Safety
Stock, then the required notice period shall be extended by one month for each
month of safety stock inventory which NaPro failed to provide (to a maximum of
six months).

[THIS PORTION HAS BEEN REDACTED]

         3.7      Pricing.

                  3.7.1 The ex works Boulder (or other NaPro facility) price for
                  sale of Product from NaPro to Faulding for Commercial Use or
                  Compassionate Use shall be [THIS PORTION HAS BEEN REDACTED]

                  3.7.2 Notwithstanding the foregoing, if Faulding determines in
                  its reasonable judgment that the sales price of the Formulated
                  Product in the general market place in a Major Market has
                  fallen to such a level that it is no longer economically
                  viable to offer for sale and sell the Formulated Product to
                  customers in such Major Market based upon the price charged by
                  NaPro to Faulding for the Product, then upon written notice
                  from Faulding to NaPro, [THIS PORTION HAS BEEN REDACTED].

         3.8 Lost Product or Destroyed Product. The ex works Boulder (or other
         NaPro Facility) price for sale of Product to Faulding, which Product is
         used internally by Faulding, or which Faulding has lost, corrupted,
         contaminated or, due to Faulding's fault, destroyed or outdated, shall
         be [THIS PORTION HAS BEEN REDACTED]. NaPro shall, for a reasonable
         charge, use reasonable efforts to restore Product that Faulding has
         corrupted or contaminated so that such Product shall meet the
         Specifications.

         3.9 Invoice and Payment. NaPro shall invoice the Product upon delivery,
         and payment shall be due sixty (60) days following delivery. Payments
         shall be made by wire transfer to the account specified by NaPro from
         time to time.

         3.10     Supply Forecast, Orders and Allocation of Faulding Sales.

                  3.10.1 On [THIS PORTION HAS BEEN REDACTED] Faulding shall
                  provide NaPro with (i) a forecast of Product to be ordered for
                  delivery during the twelve (12) month period commencing on
                  [THIS PORTION HAS BEEN REDACTED]of that year (the "Annual
                  Forecast"), (ii) a good faith estimate of the amounts of
                  Product ordered to be used in each of the countries within the
                  European Territory and (iii) a good faith estimate of its Net
                  Sale Prices for sales in each country within the European
                  Territory for such period (the "Estimated Prices"). In
                  addition, by [THIS PORTION HAS BEEN REDACTED]f each calendar
                  year, Faulding shall issue to NaPro a firm purchase order for
                  the coming calendar quarter, together with its updated
                  forecast of Product to be ordered for the subsequent three (3)
                  calendar quarters. With each quarterly firm purchase order,
                  Faulding shall also submit its requested shipping schedule as
                  well as an update of its good faith estimates of the amounts
                  of Products ordered to be used in each of the countries within
                  the European Territory, as well as any Product anticipated to
                  be used internally, lost, or destroyed. Such forecast shall be
                  separate from that provided under the Master Agreement.

                  3.10.2 Except as set forth below, the forecast to be submitted
                  by Faulding shall not create a binding obligation on the part
                  of either party to this European Agreement.

                            3.10.2.1 Faulding shall be required to purchase a
                            minimum of [THIS PORTION HAS BEEN REDACTED]f that
                            amount specified by the Annual Forecast, provided
                            that NaPro is able to supply such amount.

                            3.10.2.2 NaPro shall use its commercially reasonable
                           efforts to supply all of Faulding's requirements of
                           Product according to Faulding's requested delivery
                           schedule, regardless of whether such Product
                           requirements were reflected in Faulding's current
                           forecast.

                  3.10.3 NaPro shall calculate the invoice price for each
                  quarterly order submitted by Faulding based on the forecast
                  allocations of sales and the Estimated Prices submitted by
                  Faulding. At the close of each period of twelve calendar
                  months ending on [THIS PORTION HAS BEEN REDACTED] Faulding
                  shall calculate the actual end use of Product supplied to
                  Faulding during such period and any prior period still
                  remaining to be determined, to the extent ascertained, on the
                  basis that the first Product to be supplied to Faulding is the
                  first to be sold and that Product is used internally, lost, or
                  destroyed after Product has first been sold. Faulding shall
                  also calculate the actual Faulding Net Sale Prices per gram
                  for Commercial Use sales during such twelve (12) month period.
                  Any under or overpayment detected by such calculation shall be
                  paid by May 31 of each year and verified as provided in
                  Section 3.10.4.

                  3.10.4 Faulding shall on an annual basis within sixty (60)
                  days after the end of the applicable twelve (12) month period
                  pursuant to Section 3.10.1, provide NaPro with a report on
                  sales of Formulated Product in each of the countries within
                  the European Territory as well as information on all
                  applicable Net Sale Prices in each of the countries within the
                  European Territory, and other information pertinent to the
                  loss, corruption, contamination, or destruction of Product.
                  NaPro shall have the right, at its cost, to hire an
                  independent accountant reasonably satisfactory to Faulding and
                  subject to the confidentiality provisions hereunder, which
                  accountant may, upon reasonable notice to Faulding and during
                  normal business hours no more than once in any twelve month
                  period, review Faulding's books and records relating to price
                  or payments made pursuant to this European Agreement solely to
                  verify the reports provided by Faulding to NaPro as described
                  in this Section 3.10.4. Such independent accountant shall
                  verify to NaPro the accuracy of such reports. Should any
                  underpayment equaling or exceeding five percent (5%) of the
                  payments due over any twelve (12) month period be detected,
                  then the cost of such audit shall be borne by Faulding and any
                  such underpayment shall be promptly paid by Faulding. If any
                  such verification shows underpayment or overpayment, a
                  correcting payment or a refund shall be promptly made by the
                  party who owes such money to the other party.

                  3.10.5   Exchange Rate Variation

                           3.10.5.1 In the event that payments on Net Sales
                           Price of the Formulated Product are made in a
                           currency other than United States Dollars, within
                           thirty (30) days of the end of each year, the parties
                           shall calculate the average exchange rate between the
                           applicable foreign currency and the United States
                           Dollar for the previous year, by aggregating the
                           closing exchange rates on the last working day of
                           each month during such year, as published in the
                           London Financial Times, and dividing by twelve (12)
                           (the "Average Exchange Rate").

                           3.10.5.2 For the first year of this European
                           Agreement the "Base Exchange Rate" shall be the rates
                           set forth on Exhibit E and for the second and
                           subsequent years the "Base Exchange Rate" shall be
                           set at the Average Exchange Rate for the previous
                           year.

                           3.10.5.3 Should the Average Exchange Rate differ from
                           the Base Exchange Rate by [THIS PORTION HAS BEEN
                           REDACTED]

                           3.10.5.4 For the purposes of this Section 3.10.5, a
                           "year" shall run from the date of this European
                           Agreement or the anniversary of the date of this
                           European Agreement.

         3.11 Product Quality. Each lot of Product supplied by NaPro to Faulding
         shall meet the Specification as such Specification may be amended from
         time to time, either by mutual agreement of the parties or in response
         to directives issued by a relevant government authority in connection
         with the Registration or marketing of the Product in a particular
         jurisdiction. With each lot of Product supplied by NaPro to Faulding,
         NaPro shall submit to Faulding an (a) appropriate certificate of
         analysis confirming compliance with the Specification and (c)
         appropriate certificate of conformance confirming compliance with the
         registered DMF and with cGMPs. Upon delivery of the Product to
         Faulding, Faulding shall as soon as reasonably practicable inform NaPro
         by written notice of any damaged or otherwise defective Product alleged
         to have been delivered by NaPro and shall, upon the request of NaPro,
         return the damaged or defective Product to NaPro and the reasonable
         cost of return shall be borne by NaPro and NaPro shall as soon as
         practicable replace the damaged or defective Product, provided that
         such damage or defect shall have been caused by NaPro and not by
         Faulding or the shipper to Faulding. Any failure by Faulding to detect
         latent defects in the Product delivered to Faulding shall not affect
         NaPro's indemnity obligations under this European Agreement or
         obligation to replace such Product except that Faulding shall be
         responsible for any claims arising out of defects which should have
         been detected by the pre-formulation tests required of Faulding under
         applicable regulatory requirements.

         3.12 Formulated Product Quality. Each lot of Formulated Product
         manufactured by Faulding to be sold in the European Territory pursuant
         to this Agreement shall meet the Specification as such Specification
         may be amended from time to time, either by mutual agreement of the
         parties or in response to directives issued by a relevant government
         authority in connection with the Registration or marketing of the
         Formulated Product in a particular jurisdiction. All such Formulated
         Product shall be manufactured pursuant to GMP. In connection with the
         release of Formulated Product manufactured by Faulding, Faulding shall
         submit to NaPro appropriate documentation confirming compliance with
         the Specification and GMP, together with samples of each lot of such
         Formulated Product, and shall provide NaPro with any other information
         as may be required for Formulated Product release. Specific
         responsibilities for the release of Formulated Product shall be set
         forth in the Technical Agreement referred to in Section 4.7.

                  3.12.1 NaPro shall have the right to conduct a Manufacturing
                  Audit as set forth herein. For purposes of this Agreement, the
                  term "Manufacturing Audit" shall mean an audit by no more than
                  three individuals, reasonably acceptable by both parties, of
                  that portion of Faulding's manufacturing facility where the
                  Formulated Product is manufactured and of such documentation
                  specifically relating to the manufacture of the Formulated
                  Product, for purposes of confirming that Faulding's procedures
                  and processes used in manufacturing the Formulated Product
                  conform to GMP. Any such individuals shall be accompanied by
                  Faulding personnel at all times, shall be qualified to conduct
                  manufacturing audits, shall comply with Faulding's rules and
                  regulations relating to facility security, health and safety,
                  and shall execute a written agreement to maintain in
                  confidence all information obtained during the course of any
                  such audit except for disclosure to NaPro with respect to the
                  Formulated Product for the purposes set forth in this Section
                  3.12.1. Manufacturing Audits shall be conducted no more than
                  two times per calendar year unless otherwise agreed to by
                  Faulding; provided that if there is a deficiency with respect
                  to GMP compliance then NaPro may conduct an additional audit
                  to reasonably confirm that such deficiency has been addressed.
                  Manufacturing Audits shall be conducted during Faulding's
                  normal business hours and upon at least thirty (30) days'
                  prior written notice to Faulding. The written notice shall
                  identify any specific audit requests that NaPro intends to
                  make of Faulding and NaPro's contact person with regard to the
                  Manufacturing Audit. In no event shall a Manufacturing Audit
                  exceed two (2) days in duration unless such Manufacturing
                  Audit is delayed by the act or omission of Faulding, and in
                  all cases NaPro shall ensure that its employees or agents will
                  conduct each Manufacturing Audit so as not to interfere with
                  the normal and ordinary operation of Faulding's manufacturing
                  facility. All Manufacturing Audits shall be at NaPro's sole
                  expense. Any confidential information obtained by NaPro from
                  Faulding as a result of this access shall be treated as
                  Faulding Confidential Information pursuant to the terms of
                  this Agreement.

         3.13     NaPro Indemnity.  NaPro shall protect, indemnify and hold
                  harmless Faulding from and against all Loss incurred by
                  Faulding by reason of:

                  3.13.1 Product Defect. Any defect (whether of a design or
                  manufacturing origin) in the Product supplied to Faulding
                  pursuant to this European Agreement, including failure to meet
                  the Specification except to the extent that any defect or
                  failure is the result of any action or inaction by NaPro at
                  Faulding's direction evidenced in writing.

                  3.11.2   Breach.  The breach by NaPro of any of its warranties
                  or obligations under this European Agreement.

         3.14     Faulding Indemnity.  Faulding shall protect, indemnify and
                  hold harmless NaPro from and against all Loss incurred by
                  NaPro by reason of:

                  3.14.1   Product Defect.  Any defect (whether of a design or
                  manufacturing origin) in the Formulated Product manufactured
                  by Faulding, other than by reason of a defect in the Product
                  where such defect is the fault of NaPro.

                  3.14.2   Breach.  The breach by Faulding of any of its
                  warranties or obligations under this European Agreement.

         3.15 Product Liability Insurance. Faulding shall use all reasonable
         efforts to obtain product liability insurance in the amount of at least
         [THIS PORTION HAS BEEN REDACTED] covering the sale of the Formulated
         Product. NaPro represents that as of the date hereof it has product
         liability insurance in the amount of at least [THIS PORTION HAS BEEN
         REDACTED] Upon obtaining Registration and Faulding's forecast sales
         exceed [THIS PORTION HAS BEEN REDACTED], NaPro shall use all reasonable
         efforts to obtain product liability insurance in the initial amount of
         [THIS PORTION HAS BEEN REDACTED]covering sale of the Product.

         3.16 Shipping. NaPro shall deliver the Product ex works NaPro's
         manufacturing facility. NaPro shall cooperate with Faulding to ship the
         products to Faulding at Faulding's expense. Risk of loss to the Product
         shall pass upon delivery to Faulding's common carrier. Faulding shall
         be responsible for obtaining suitable import and export licenses
         required to ship the Formulated Product into the various countries of
         the European Territory.

4        Registration, Marketing, Manufacture Obligations

         4.1 Registration. NaPro shall at its own expense use its diligent and
         commercially reasonable efforts to rapidly pursue Registration [THIS
         PORTION HAS BEEN REDACTED] in the Field throughout the countries in the
         European Territory which are listed on Exhibit F attached hereto.
         Without limiting the generality of the foregoing, NaPro shall use its
         diligent and commercially reasonable efforts to apply for a
         Registration [THIS PORTION HAS BEEN REDACTED] and to obtain approval of
         such Registration prior to the first anniversary of the filing of such
         Registration. NaPro shall promptly retain and maintain during the term
         of this European Agreement, at its sole expense, the services of a
         recognized and experienced regulatory consulting organization,
         reasonably acceptable to Faulding, to assist NaPro with NaPro's
         obligations hereunder relating to the procurement of Registration [THIS
         PORTION HAS BEEN REDACTED]. If NaPro exercises this option: (i)
         Faulding shall provide reasonable regulatory support at a reasonable
         cost and (ii) Faulding shall promptly provide to NaPro copies in
         Faulding's possession of the product specification and other relevant
         registration documents for [THIS PORTION HAS BEEN REDACTED] which are
         used in Faulding's applications for Registration, provided, however,
         that any such information provided by Faulding to NaPro shall be deemed
         Confidential Information (as defined in herein) of Faulding and shall
         be used solely for the sale of the [THIS PORTION HAS BEEN REDACTED] by
         NaPro pursuant to the terms of this European Agreement, or outside the
         territories of the European Agreement and the Master Agreement.
         Following Registration by NaPro, Faulding shall be responsible for
         negotiating and obtaining pricing approval from the appropriate
         authorities.

         4.2     [THIS PORTION HAS BEEN REDACTED]

         4.3 Marketing, Retention of Exclusive Distribution Rights. Following
         Registration, Faulding shall use commercially reasonable efforts to
         market the Formulated Product for sale within the European Territory.
         Such efforts shall be equivalent to Faulding's efforts relating to
         other drugs intended for human antineoplastic use.

                  [THIS PORTION HAS BEEN REDACTED]

         4.4       [THIS PORTION HAS BEEN REDACTED]

         4.5 Pre-clinical/Clinical Data. Subject to third party contractual
         obligations, the parties agree to share with each other pre-clinical
         and clinical data developed by them for the Formulated Product
         including raw data and final reports. Each party shall promptly inform
         the other of any adverse reactions encountered in their clinical
         studies relating to Paclitaxel. Neither party shall alter the
         specification of the Formulated Product to be used in the European
         Territory without the prior written consent of the other party, which
         consent shall not be unreasonably withheld or delayed. Faulding shall
         own all preclinical and clinical data developed by Faulding and shall
         have the right to use such data in the European Territory and within
         the territory of the Master Agreement pursuant to the terms of such
         agreements. Subject to third party contractual obligations, Faulding
         hereby grants to NaPro a non-exclusive and fully paid up license to use
         such data developed by Faulding outside of the European Territory and
         outside the territory of the Master Agreement or for the purposes
         specifically permitted to NaPro pursuant to the terms of this
         Agreement. NaPro shall own all preclinical and clinical data developed
         by NaPro and shall have the right to use such data outside the European
         Territory and outside the territory of the Master Agreement. NaPro's
         use of such data within the European Territory and the territory of the
         Master Agreement shall be governed by the terms of such agreements.
         Subject to third party obligations, NaPro hereby grants to Faulding a
         non-exclusive and fully paid up license to use such data developed by
         NaPro within the European Territory pursuant to the terms of this
         Agreement

         4.6 Regulatory Filings. Faulding agrees to provide reasonable
         assistance in NaPro's regulatory filings for [THIS PORTION HAS BEEN
         REDACTED] within the European Territory by providing to NaPro (in a
         reasonable time frame) such information, regulatory documents and files
         (including obtaining certificates of free sale if necessary) as are
         required to obtain Registration in NaPro's name or the name of NaPro's
         licensee in the country in question. NaPro shall pay Faulding's out of
         pocket costs, and a reasonable fee mutually agreed upon between the
         parties, in connection with all assistance rendered by Faulding to
         NaPro pursuant to this Section. [THIS PORTION HAS BEEN REDACTED]. NaPro
         shall not be required to pay Faulding's costs or expenses for
         information, documents and files which have been previously collected,
         obtained, or prepared by Faulding.

         4.7 Monitoring of Applications for Registration and Pricing. NaPro and
         its representatives shall collaborate and consult with Faulding to
         formulate strategy for Registration efforts with respect to the [THIS
         PORTION HAS BEEN REDACTED] throughout the European Territory. Faulding
         shall receive reasonable advance notice of, and shall have the right to
         participate in, all meetings and discussions between NaPro and
         regulatory authorities and/or NaPro's consultants and representatives
         and with respect to Registration. NaPro shall provide Faulding once per
         quarter, a written update on the status of Registration efforts
         throughout the European Territory. NaPro and its representatives shall
         consult with Faulding with respect to NaPro's efforts to obtain
         Registration for the [THIS PORTION HAS BEEN REDACTED] in the European
         Territory. Faulding shall provide NaPro once per quarter, a written
         update on timing issues with respect to pricing negotiations in the
         European Territory and any clinical or other developmental/regulatory
         efforts with respect to the Formulated Product that Faulding is
         undertaking within the European Territory. The parties shall cooperate
         with one another in reporting adverse events relating to Formulated
         Product. Within the first anniversary of the execution and delivery of
         this Agreement, the parties shall enter into a mutually agreeable
         Technical Agreement on standard industry terms to include, among other
         things, release of Formulated Product and quality assurance and quality
         control matters with respect to the Product and Formulated Product.

         4.8 Product and Formulated Product. NaPro shall provide Product to
         Faulding pursuant to this European Agreement. Faulding shall be
         responsible (at Faulding's sole expense) for formulation, finishing,
         and packaging of Formulated Product sold by Faulding and importing such
         Formulated Product into the European Territory.

         4.9      Improvements.

                  4.9.1 NaPro shall supply the Product to Faulding, in
                  accordance with the terms and conditions hereunder, with
                  respect to the development, manufacture and commercialization
                  of any formulation of Paclitaxel that Faulding develops, or
                  that Faulding may acquire after the Effective Date.

                  4.9.2 In the event that NaPro develops or acquires a new
                  formulation of Paclitaxel (each, an "Option Product") then,
                  provided that NaPro has the right to offer marketing rights to
                  such Option Product in the European Territory, then Faulding
                  shall have a first option to negotiate the terms of an
                  agreement for the development, registration and
                  commercialization of such Option Product in the European
                  Territory, which option shall be exercised by Faulding within
                  90 days of Faulding's receipt of such written notification
                  from NaPro. If Faulding elects to enter into such
                  negotiations, the parties shall negotiate in good faith the
                  terms of an applicable agreement, which terms shall be
                  commercially reasonable, arms-length terms, and shall include
                  a formula for the equal sharing of development costs for such
                  Option Product.

                  4.9.3 NaPro shall not supply Paclitaxel to any third party
                  that has or attempts to develop, manufacture and/or
                  commercialize a formulation of Paclitaxel in breach of the
                  exclusivity rights granted to Faulding hereunder, including
                  the provisions of Sections 3.1.1 and 3.1.2.

         4.10     [THIS PORTION HAS BEEN REDACTED].

5        Patents; Proprietary Rights

         5.1 Exclusive License Grant. Subject to the terms of this European
         Agreement, NaPro hereby grants to Faulding an exclusive license under
         the NaPro Patents and other intellectual property to import, use, offer
         to sell and sell Formulated Product in the Field in the European
         Territory pursuant to the terms of this European Agreement ("License").
         Other than: (a) the license granted to IVAX pursuant to the terms of
         the IVAX Agreement; (b) as required solely for NaPro's performance of
         its obligations under this European Agreement; and (c) as otherwise
         explicitly granted to NaPro herein, such License shall be exclusive to
         Faulding, even to the exclusion of NaPro, and NaPro shall grant no
         further licenses to NaPro Patents to any third party in the Field in
         the European Territory.

         5.2      Notice of Patent Infringement. Each Party shall promptly
         notify the other Party of: (a) any infringement of NaPro Patents; or
         (b) third party assertion of infringement by one or both Parties of a
         third party patent right.  Such notice shall be in writing and shall
         set forth the details of the known facts relating to such activities.

         5.3      Patent Enforcement.   [THIS PORTION HAS BEEN REDACTED].

         5.4      Failure to Enforce Patents. [THIS PORTION HAS BEEN REDACTED].

         5.5 Alleged Patent Infringement. In the event that a third party
         asserts that NaPro and/or Faulding is infringing a third party patent
         right as a result of the activities contemplated by this European
         Agreement, then NaPro shall have the right and obligation to defend
         against such allegations and control all related legal proceedings.
         NaPro shall indemnify Faulding for any monetary damages which Faulding
         is required to pay to third parties as a result of the following types
         of infringement actions:

         [THIS PORTION HAS BEEN REDACTED]

Faulding shall indemnify NaPro for any monetary damages which NaPro is required
to pay to third parties as a result infringement actions based on patents which
claim compositions of matter related to [THIS PORTION HAS BEEN REDACTED] other
than [THIS PORTION HAS BEEN REDACTED] marketed by Faulding.

For all other types of infringement actions, NaPro and Faulding shall share
equally any damages owed to third parties as a result of such actions; provided
that any settlement or compromise or consent to the entry of any judgment in any
such actions shall require the mutual written consent of each party hereto.

         5.6  [THIS PORTION HAS BEEN REDACTED]

         5.7 Prosecution of NaPro Patents. NaPro shall be , at its expense,
         solely responsible for (i) securing the grant of any patent
         applications within the NaPro Patents; (ii) filing and prosecuting
         patent applications on patentable inventions and discoveries relating
         to the same; (iii) defending all such applications and NaPro Patents
         against third party oppositions and invalidity actions; and (iv)
         maintaining in force any issued letters patent relating to the same;
         provided that Faulding at its request shall be provided with copies of
         all documents relating to such filing, prosecution, defense and
         maintenance in sufficient time to review such documents and comment
         thereon prior to filing.

6        Termination and Dispute Resolution

         6.1 Termination By Either Party; Reorganization Insolvency.
         Notwithstanding anything else contained in this European Agreement,
         this European Agreement may be terminated by the non-breaching party
         giving written notice to the other upon the happening of any of the
         following events:

                  6.1.1 In the event the other party shall commit a material
                  breach or default under this Agreement, which breach or
                  default shall not be remedied within ninety (90) days after
                  the receipt of written notice thereof by the party in breach
                  or default.

                  6.1.2 The expiration of twenty-one (21) days after the other
                  party having a receiver validly appointed for the whole or any
                  substantial part of its assets or immediately where a court
                  order is validly made or a resolution of such party's
                  shareholders passed for the winding up of such party other
                  than for the purpose of reorganization or reconstruction.

                  6.1.3 In the event that the other party files a petition in
                  bankruptcy or similar proceedings or is adjudicated bankrupt
                  or if a petition for bankruptcy or similar proceedings is
                  filed against such party and is not stayed or discharged
                  within forty-five (45) days of such filing or if such party
                  becomes insolvent or makes an assignment for the benefit of
                  creditors or any agreement pursuant to bankruptcy law or
                  otherwise acknowledges insolvency or is adjudged bankrupt or
                  if such party discontinues business.

         6.2 Governing Law. This European Agreement shall be construed in
         accordance with and governed by the internal laws of the State of New
         York, excluding such state's rules relating to conflicts of laws, and
         its form, execution, validity, construction and effect shall be
         determined in accordance with such internal laws.

         6.3 Effects of Termination. Upon termination of this European
         Agreement, (a) the full amount of any amounts outstanding by one party
         to the other shall be paid forthwith, and (b) all rights and licenses
         granted hereunder, other than rights to use clinical data shall
         terminate. Notwithstanding the termination of this European Agreement,
         the obligations of the parties with respect to confidentiality pursuant
         to Section 7 hereof shall survive for ten (10) years following such
         termination, and neither party nor any of its respective Affiliates
         shall utilize any of the Confidential Information provided by the other
         party pursuant to this European Agreement. The parties shall provide
         one another with the clinical data to the extent not already provided.

         6.4 Arbitration Hearings. Any disputes arising under or relating to
         this European Agreement shall be settled by binding arbitration in
         accordance with the CPR Rules for Non-Administered Arbitration by a
         single arbitrator, and such arbitration proceeding shall be held in New
         York, New York, unless the parties agree otherwise in writing. Any
         arbitration conducted pursuant to the provisions of this Section shall
         be conducted as follows, unless the parties agree otherwise in writing:

                  (a) In rendering judgment, the arbitrator may not provide for
         punitive or similar exemplary damages.

                  (b) Any arbitration under this European Agreement shall be
         completed within thirty days after the parties submit briefings with
         respect thereto.

                  (c) The award rendered by the arbitrator shall be in writing.

                  (d) The parties agree that the decision shall be the sole,
         exclusive and binding remedy between them regarding any and all
         disputes, controversies, claims and counterclaims presented to the
         arbitrators. Application may be made to any court having jurisdiction
         over the party (or its assets) against whom the decision is rendered
         for a judicial recognition of the decision and an order of enforcement.

7                          Confidentiality

         7.1 Transfer of Information. Each party has provided to the other
         information relating to Paclitaxel in connection with negotiation of
         the Master Agreement and performance of the Master Agreement and each
         party will in the future provide information in relation to this
         European Agreement which the disclosing party considers to be
         confidential ("Confidential Information"). "Confidential Information"
         shall not include any information which:

                  7.1.1 Is now, or hereafter becomes, through no act or failure
                  to act on the part of the receiving party, generally known or
                  available to the public.

                  7.1.2 Is known to the receiving party at the time of
                  disclosure provided that the receiving party promptly notifies
                  the disclosing party in writing of this prior knowledge within
                  a reasonable time of discovery of such prior knowledge.

                  7.1.3 Is hereafter furnished to the receiving party by a third
                  party, as a matter of right and without restriction on
                  disclosure, provided that the receiving party promptly
                  notifies the disclosing party of this third party disclosure
                  within thirty (30) days thereafter.

                  7.1.4  Is disclosed with the written approval of the
                  disclosing party.

         7.2 Restricted Disclosure. The parties will restrict dissemination of
         Confidential Information received from the other party to only those
         employees with a need to know such information, except that:

                  7.2.1 In the case of Faulding, such Confidential Information
                  may be provided to regulatory authorities in connection with
                  Registration for the Formulated Product, or for the purposes
                  allowed under the Master Agreement.

                  7.2.2 In the case of NaPro, such Confidential Information may
                  be provided to regulatory authorities in connection with an
                  application for a Registration for the Formulated Product.

         7.3 Precautions. Each party shall maintain Confidential Information
         received from the other party as confidential, and protect the same
         from misuse, espionage, loss or theft and shall not disclose the
         Confidential Information to others except as provided in Section 7.2.

8                          Force Majeure

         8.1 Force Majeure. Neither party shall be liable to the other in the
         event that performance of its obligations hereunder shall be prevented
         by any cause beyond its reasonable control, including without
         limitation, acts of God, acts of government, accident, fire, delay or
         destruction of means of transport or other disaster ("events of force
         majeure"), but the affected party shall use reasonable efforts to avoid
         or remove the cause of such nonperformance and shall continue
         performance hereunder with the utmost dispatch whenever such cause is
         removed; provided that if such event of force majeure continues for a
         period of twelve months then the other party shall have the right to
         terminate the term of this European Agreement on a country by country
         basis; provided further that if NaPro has not complied with its
         obligation to provide Safety Stock during the occurrence and
         continuance of the event of force majeure, then Faulding shall have the
         right to terminate the term of this European Agreement on a country by
         country basis to the extent that such event of force majeure continues
         for a period of nine months.

9                          Miscellaneous Provisions

         9.1 Assignment/Third Parties. Neither party shall assign any rights or
         obligations hereunder to third parties without the agreement of the
         other party; provided that either party may assign any of its rights or
         obligations hereunder to its Affiliates without obtaining such consent;
         and provided that such assigning party shall remain liable for the
         performance of such Affiliate. Notwithstanding this provision, within
         the European Territory Faulding shall be entitled to perform any one or
         more of its obligations according to this European Agreement by
         appointing third parties to do so on its behalf and in its name,
         provided that NaPro has given Faulding its prior written consent to
         each such appointment, which consent shall not be unreasonably withheld
         or delayed and provided that Faulding remains liable for the
         performance of such third parties. NaPro may assign this European
         Agreement to a third party in connection with the sale of all of
         NaPro's business relating to Paclitaxel (other than Bristol-Myers
         Squibb), provided that such third party agrees in writing to be bound
         by all of the terms of this European Agreement.

         9.2 Relationship of Parties. Nothing contained in this European
         Agreement shall be construed so as to operate or to place any party
         hereto in the relationship of employee or agent or joint venturer or
         legal representative of the other party and it is hereby expressly
         agreed and acknowledged that each of the parties hereto is an
         independent contracting party which does not have the authority or
         power for or on behalf of the other party hereto to enter into any
         contract to incur debts, to accept money, to assume any obligations or
         to make any warranties or representations whatsoever.

         9.3 Waiver. The failure of either of the parties to insist upon a
         strict performance of any of the provisions of this European Agreement
         shall not be deemed a waiver of any subsequent breach of such provision
         or of the provision itself.

         9.4 Contract Variation.  Any modification, alteration, change or
         variation in any provision of this European Agreement shall be only
         made in writing, executed by both parties.

         9.5 Notices. Notices by one party to the other shall be in writing by
         registered mail or major air courier delivery (receipt provided) or by
         telecopy confirmed both by contemporaneous telephone conversation with
         the recipient and by airmail letter.

         Notices by Faulding to NaPro shall be directed to NaPro's General
Counsel and Chief Financial Officer at its offices at 6304 Spine Road Unit A
Boulder, CO 80301, USA. Fax: (303) 530-1296.

         Notices by NaPro to Faulding shall be directed to Central Laboratories,
Limited, c/o Faulding Pharmaceuticals, plc. at Queens Way, Royal Lemington Spa,
Warwickshire, United Kingdom CV313RW, Fax 011-44-1926-821-047, attention:
Company Secretary; with a copy to F.H. Faulding & Co. Limited at 115 Sherriff
Street, Underdale, South Australia 5032, Australia, attention: Secretary, Fax:
011-61-8-8234-8230; and a copy to Faulding Pharmaceuticals at 650 From Road,
Paramus, NJ 07652, attention: General Counsel, Fax (201) 225-5510.

         9.6 Entire Agreement. Except as set out in this European Agreement,
         this European Agreement constitutes the entire agreement of the parties
         (and into which all prior negotiations, commitments, representations
         and undertakings with respect to the subject matter are merged and
         there are no other undertakings, warranties or agreements between the
         parties relating to the subject matter of this European Agreement and
         this European Agreement is not based upon any representations as to
         profit or worth nor has any representation been made (whether by this
         European Agreement or otherwise) to induce NaPro or Faulding to accept
         and execute this European Agreement.

         9.7 Compliance with Law. It shall be the responsibility of each party
         to follow all procedures and take all actions which are necessary or
         required for agreements of this type by the laws, treaties or
         regulations applicable in each country in which that party shall deal
         in the Product (in the case of NaPro) and the Formulated Product (in
         the case of NaPro and Faulding). Faulding shall ensure that the
         storage, marketing or sale of the Formulated Product does not breach
         any law or statute rule or regulation relating to drugs in each country
         in which Faulding shall deal in the Formulated Product.

         9.8 Interpretation. Headings in this European Agreement are for ease of
         reference only and shall not be used to interpret this European
         Agreement. The language of this European Agreement shall be deemed to
         be the language mutually chosen by the parties and no rule of strict
         construction shall be applied against either party hereto.

         9.9 Counterparts. This European Agreement may be executed in one or
         more counterparts, each of which shall be an original, but which
         together shall form one agreement.

         IN WITNESS WHEREOF, the parties hereto have caused this European
         Agreement to be executed by their duly authorized representatives as of
         the date hereof.

CENTRAL LABORATORIES,  LIMITED   NAPRO BIOTHERAPEUTICS, INC.

By: /s/ Edward Tweddell          By: /s/ Kai P.Larson
    ------------------------     ---------------------------
                                     Kai P. Larson
                                     Vice President, General Counsel

         For good and valuable consideration, F.H. Faulding & Co. Limited hereby
guarantees the performance of the obligations of Central Laboratories, Limited
under the terms of this European Agreement.

                                                     F.H. FAULDING & CO. LIMITED

                                                     By: /s/Edward Tweddell
                                                         ------------------
                                                     Name: Edward Tweddell
                                                           ---------------
                                                     Title: CEOExhibit 10.21

                                LICENSE AGREEMENT

                  THIS LICENSE AGREEMENT is made as of this 21st day of
November, 2000("Effective Date")by and between the University of Delaware, a
nonprofit educational institution organized and existing under the laws of the
State of Delaware ("Delaware"), Thomas Jefferson University ("TJU"), a nonprofit
educational institution organized and existing under the laws of the State of
Pennsylvania, (collectively "Institutions") and NAPRO BIOTHERAPEUTICS, INC., a
corporation organized and existing under the laws of the State of Delaware
("Licensee, or NaPro").

                                 R E C I T A L S

         A. WHEREAS, the Institutions are the owners of certain patent
applications and other technology relating to gene repair that has heretofore
resulted from research performed by Dr. Eric Kmiec and others; and

         B. WHEREAS, Licensee wishes to acquire certain rights and licenses with
respect to such patent applications and technology from said Institutions in
accordance with the terms and conditions hereinafter set forth,

         NOW, THEREFORE, in consideration of the premises and mutual covenants
contained herein, and intending to be legally bound hereby, the parties hereto
agree as follows:

                                    ARTICLE 1
                                   DEFINITIONS

         1.1 Unless otherwise provided in this Agreement, the following terms
when used with initial capital letters shall have the meanings set forth below:

                  "Affiliate" means, when used with reference to Licensee, any
Person directly or indirectly controlling, controlled by or under common control
with Licensee. For purposes of this definition, "control" means the ownership of
at least 50% of the equity of a Person, or the right to control the management
decisions of such Person.

                  "Bankruptcy Event" means the person in question becomes
insolvent, or voluntary or involuntary proceedings by or against such person are
instituted in bankruptcy or under any insolvency law, or a receiver or custodian
is appointed for such person, or proceedings are instituted by or against such
person for corporate reorganization or the dissolution of such person, which
proceedings, if involuntary, shall not have been dismissed within sixty (60)
days after the date of filing, or such person makes an assignment for the
benefit of creditors, or substantially all of the assets of such person are
seized or attached and not released within sixty (60) days thereafter.

                                       1
<PAGE>

                  "Calendar Quarter" means each three-month period, or any
portion thereof, beginning on January 1, April 1, July 1 and October 1.

                  "Confidential Information" means (i) the Technical
Information, (ii) any other information or material in tangible form that is
marked as confidential or proprietary by the furnishing party at the time it is
delivered to the receiving party, and (iii) information that is furnished orally
if the furnishing party identifies such information as confidential or
proprietary when it is disclosed and promptly confirms such designation in
writing after such disclosure.

                  "Effective Date" shall have the meaning set forth on page 1 of
this Agreement.

                  "Federal Government Interest" means the rights of the United
States Government and agencies thereof under Public Laws 96-517, 97-256 and
98-620, codified at 35 U.S.C. "" 200-212, and any regulations issued thereunder,
as such statute or regulations may be amended from time to time hereafter.

                  "Field" means all uses, including human, plant, animal, and
any other uses.

                  "Licensed Technology" [THIS PORTION HAS BEEN REDACTED]

                                       2
<PAGE>

                  "Net Sales Price" [THIS PORTION HAS BEEN REDACTED]

                  "Patents" [THIS PORTION HAS BEEN REDACTED]

                  "Person" means an individual, partnership, corporation, joint
venture, unincorporated association, or other entity, or a government or
department of agency thereof.

                  "Products" means any article, the making, use, or sale of
which is covered by a Valid Claim of a Patent.

                  "Project, or Research Project" [THIS PORTION HAS BEEN
REDACTED]

                  "Technical Information" means and includes all technical
information, trade secrets, developments, discoveries, know-how, methods,
techniques, formulae, processes and other information relating to the Licensed
Technology that the Institutions own or control on the date hereof or owns or
controls in the future, including by way of illustration and not limitation,
designs, data, drawings, documents, models, and other similar information.

                  "Valid Claim" means a claim of an unexpired issued Patent that
has not been withdrawn, canceled or disclaimed or held invalid by a court or
governmental authority of competent jurisdiction in an unappealed or
unappealable decision.

                                       3
<PAGE>

                                    ARTICLE 2
                                GRANT OF LICENSE

         2.1      Grant of License.

                  (a) Subject to the terms and conditions contained in this
Agreement, the Institutions hereby grant to Licensee an exclusive, worldwide,
royalty-bearing right and license to use and practice the Licensed Technology in
the Field. Such license shall include the exclusive right to make, have made,
use, and sell Products.

         2.2      Right to Sublicense.  Licensee shall have the right to
sublicense to any third party, in whole or in part, its rights under this
Agreement.

         2.3 Federal Government Interest. Licensee acknowledges that in
accordance with the Federal Government Interest, the United States Government
and certain agencies thereof retain certain rights in inventions funded in whole
or in part under any contract, grant or similar agreement with a Federal agency.
The license granted to Licensee under this Article 2 is expressly subject to all
of such rights.

         2.4 Retained right for research use. The Institutions retain the
non-assignable, non-transferrable right for employees of the Institutions to
practice the Licensed Technology for academic, non-commercial research purposes,
and to publish thereon if the publication is outside the scope of this
agreement.

                                    ARTICLE 3
                                RESEARCH PROJECT

         3.1 Research Work Licensee has agreed to fund a certain research
project (the "Project") relating to the Licensed Technology. Delaware shall use
reasonable efforts to perform the research plan substantially in accordance with
the Project Description set forth in Exhibit B hereof. Licensee and Delaware may
at any time amend the Project by mutual written agreement. Delaware shall not
permit any person to work on the Project unless such person has agreed to assign
all intellectual property rights arising out of his/her work on such Project to
the University of Delaware.

                                       4
<PAGE>

         3.2 Costs and Payments Funding for the Project shall be made [THIS
PORTION HAS BEEN REDACTED]and made a part hereof. Licensee shall be obligated to
fund such project for a minimum of three years, at a level of [THIS PORTION HAS
BEEN REDACTED], provided that [THIS PORTION HAS BEEN REDACTED].

         3.3 Reports and Conferences Delaware, through Dr. Kmiec, shall make
available to Licensee a final report including research findings according to
Exhibit B within sixty (60) days of the conclusion of the Project period. Dr.
Kmiec will also provide interim reports once every three (3) months from the
Effective Date for the duration of the Project period. Research deliverables
including the final report, interim reports, and all other data including raw
data and notes shall be made available to the Licensee as requested.

         3. 4 Intellectual Property "Project Intellectual Property" shall mean
individually and collectively all products and processes of inventions,
improvements and discoveries, whether patentable or unpatentable, which are
related to new or improved compositions, products, articles of manufacture
(including kits), methods, processes, and uses pertaining to [THIS PORTION HAS
BEEN REDACTED]for all uses and which are conceived or reduced to practice by
persons who are involved in the Project during the Project period. All such
Project Intellectual Property shall be subject to, and made part of, the rights
granted to Licensee in this Agreement between the parties and shall be
considered Licensed Technology. Delaware will promptly furnish Licensee a
disclosure of any Project Intellectual Property conceived and/or reduced to
practice during the course of the Project.

         3.5 Other Research Licensee and University acknowledge that Dr. Eric
Kmiec is conducting research at the University of Delaware independent of the
Project. Dr. Kmiec shall have the right to conduct such independent research,
and enter into other funding arrangements with third parties relating to such
other research. If Dr. Kmiec or those working under his direction or with his
assistance conceive or reduce to practice any discoveries, inventions, or other
intellectual property which relate to Licensed Technology (including any
improvements to the Licensed Technology) during the term of the Project, then
such intellectual property shall be assigned to the University of Delaware and
shall be subject to, and made a part of, the rights granted to Licensee in this
Agreement.

                                       5
<PAGE>

                                    ARTICLE 4
                          ROYALTIES AND OTHER PAYMENTS

         4.1 Restricted Stock. In consideration of the license granted
hereunder, Licensee shall issue to the Institutions a total of [THIS PORTION HAS
BEEN REDACTED]. Such stock issuance shall be subject to vesting pursuant to the
vesting schedule set forth below. At NaPro"s option, such vesting may be
accelerated so as to allow early vesting of any or all of the unvested stock.
Stock certificates shall be issued to the persons [THIS PORTION HAS BEEN
REDACTED] and shall be delivered to Delaware promptly following vesting. Such
certificates shall contain a restrictive legend as set forth on [THIS PORTION
HAS BEEN REDACTED].

Vesting Schedule:

                  Stock at execution of Agreement: 100,000 shares

                  [THIS PORTION HAS BEEN REDACTED]

         4.2  Royalties. In further consideration of the rights and licenses
granted hereunder, Licensee shall pay royalties as follows:  [THIS PORTION HAS
BEEN REDACTED].

For the purposes of this paragraph 4.2, the term "sublicensing fees" shall mean
[THIS PORTION HAS BEEN REDACTED]. Sublicensing fees shall not include [THIS
PORTION HAS BEEN REDACTED].

                                       6
<PAGE>

         4.3 Single Royalty Obligation. No Multiple Royalties on Same Product.
For any Product sold, only one royalty payment shall be due pursuant to Article
4.2, regardless of how many times such Product is re sold. If NaPro sells a
Product to a third party who is not a sublicensee, then the Net Sales Price
shall be calculated on NaPro's sale price of such Product, and additional
royalty payments shall not be due on further sales of such Product, regardless
of changes or enhancements to such Product (including formulation, packaging,
etc.) following such sale by NaPro. If NaPro sells a Product to a sublicensee,
or if NaPro does not itself sell a Product, but such Product is sold by a
sublicensee, then the Net Sales Price shall be calculated on the sublicensee's
sale price on the first sale of such Product by such sublicensee, and multiple
royalty payments shall not be due on further sales of such Product, regardless
of changes or enhancements to such Product (including formulation, packaging,
etc.) following such sale by such sublicensee. For purposes of this paragraph
4.3, the definition of "NaPro" shall include any Affiliates of NaPro.

         4.4 Payments. Royalties, milestone payments and other amounts payable
under this Agreement shall be paid within thirty (30) days following the last
day of the Calendar Quarter in which the royalties and other amounts accrue
except that royalties and other amounts payable hereof shall be paid within
sixty (60) days following the last day of the Calendar Quarter in which the
royalties and other amounts accrue. NaPro shall make all such payments to the
University of Delaware, who shall be responsible for distributing such payments
to the other Institutions. Payments shall be deemed paid as of the day on which
they are received by the University of Delaware.

         4.5 Reports. Licensee shall deliver to the University of Delaware
within thirty (30) days after the end of each Calendar Quarter following
commercial sale of a Product a report setting forth in reasonable detail the
calculation of the royalties and other amounts payable to the Institutions for
such Calendar Quarter pursuant to this Article 4, including, without limitation,
the Products sold in each country during such Calendar Quarter, the gross sales
price and Net Sales Price thereof, and, within sixty (60) days after the end of
each Calendar Quarter, similar reports containing corresponding information
relating to royalties payable due to sales by permitted sublicensees.

         4.6  Currency, Place of Payment, Interest.

                  (a) All dollar amounts referred to in this Agreement are
expressed in United States dollars. All payments to the University under this
Agreement shall be made in United States dollars (or other legal currency of the
United States), as directed by the University of Delaware, by check payable to
The University of Delaware at the address set forth in section 11.5, or by wire
transfer to such account as the University of Delaware may designate from time
to time.

                  (b) If Licensee receives revenues from sales of Products in a
currency other than United States dollars, royalties shall be converted into
United States dollars at the applicable conversion rate for the foreign currency
as published in the "Exchange Rates" table in the eastern edition of The Wall
Street Journal as of the last date of the Calendar Quarter.

                                       7
<PAGE>

                  (c) Amounts that are not paid when due shall accrue
interest-from the due date until paid, at a rate equal to the "Prime Rate" as
published in the "Money Rates" table in the eastern edition of The Wall Street
Journal as of the due date.

         4.7 Records. Licensee will maintain complete and accurate books and
records which enable the royalties payable hereunder to be verified. The records
for each Calendar Quarter shall be maintained for one year after the submission
of each report under Article 4.7 hereof. Upon reasonable prior notice to
Licensee, the Institutions" accountants shall have access to the books and
records of Licensee to conduct a review or audit thereof. Such access shall be
available not more than once each calendar year, during normal business hours.
Such audit shall be at the Institution"s expense, except if such audit uncovers
an underpayment of 5% or more of amounts owed to Institutions, in which case
Licensee shall bear the costs of such audit.

         4.8 Third Party Technology.  If Licensee or any sublicensee is required
 to obtain a license to third party technology in order to sell any Product,
[THIS PORTION HAS BEEN REDACTED].

         4.9 Milestone Payments.   [THIS PORTION HAS BEEN REDACTED].

         4.10 Reimbursement of past patent expenses. Within 30 days of delivery
to NaPro of documentation setting forth the Institution's legal fees paid in
connection with preparation and prosecution of the patent applications set forth
on Exhibit A, NaPro shall pay to the University of Delaware an amount equal to
the legal fees paid, provided, however that NaPro shall not be required to pay
in excess of $25,000 in connection with the paragraph 4.10.

                                       8
<PAGE>

         4.11 Piggyback Registration Rights. In connection with the one hundred
thousand (100,000) shares of NaPro Common Stock which are granted pursuant to
paragraph 4.1 and which are vested immediately upon execution of this Agreement,
NaPro shall use its reasonable best efforts to include such shares in any
registration of NaPro Common Stock which NaPro may undertake, and thereby to
cause those 100,000 shares to be registered under the Securities Act and
registered or qualified under any state securities law provided, however, that
this obligation shall not apply to any registration (a) on: Form S-8 (or any
successor form); (b) in connection with dividend reinvestment plans or rights
offering, or (c) for the purpose of offering registered securities to another
business entity or the shareholders of such entity in connection with the
acquisition of assets or capital stock of such entity or in connection with a
merger, consolidation, combination or similar transaction with such entity.

                                    ARTICLE 5
                         CERTAIN OBLIGATIONS OF LICENSEE

         5.1      Licensee Efforts; Reporting, Milestone payments.

                  (1) Licensee shall use its diligent, commercially reasonable
efforts to develop for commercial use and to market Products as soon as
practicable, and to continue to market Products as long as commercially viable,
all as is consistent with sound and reasonable business practice.

                  (2) Licensee shall provide the University of Delaware once per
Calendar year on December 1 with written reports, setting forth the progress of
the development, evaluation, testing and commercialization of Products. Licensee
also shall notify the University of Delaware within thirty (30) days of the end
of the first quarter in which the first commercial sale of a Product occurs.

                  (3) Should NaPro fail to commercialize the Licensed Technology
such that royalties [THIS PORTION HAS BEEN REDACTED] of execution of this
Agreement, or if NaPro fails to commercialize the Licensed Technology such that
royalties for the field of human pharmaceutical use are not earned and paid to
the Institutions pursuant to paragraph 4.2 within [THIS PORTION HAS BEEN
REDACTED] of execution of this Agreement, then a rebuttable presumption shall be
established that NaPro has failed to perform under its obligation of diligence
set forth in subparagraph 5.1(1) above. In such event, the University of
Delaware may terminate the licenses granted herein for the fields in question,
provided that the issue of NaPro"s diligence shall be subject to arbitration as
set forth in paragraph 11.1, and termination shall not be effective unless and
until NaPro has been found in such arbitration proceedings to have failed to
perform under its obligation of diligence set forth in subparagraph 5.1(1)
above.

                                       9
<PAGE>

         5.2 Compliance With Laws. Licensee shall use its best efforts to comply
with all prevailing laws, rules and regulations pertaining to the development,
testing, manufacture, marketing and import or export of Products. Without
limiting the foregoing, Licensee acknowledges that the transfer of certain
commodities and technical data is subject to United States laws and regulations
controlling the export of such commodities and technical data, including all
Export Administration Regulations of the United States Department of Commerce.
These laws and regulations, among other things, prohibit or require a license
for the export of certain types of technical data to specified countries.
Licensee will comply with all United States laws and regulations controlling the
export of commodities and technical data.

         5.3  Government Approvals.  Licensee will be responsible for obtaining,
at its cost and expense, all governmental approvals required to commercially
market Products.
                                   ARTICLE VI

                         WARRANTIES AND REPRESENTATIONS

         6.1 Representations and Warranties of the Institutions. The
Institutions represent and warrant to Licensee that: (a) this Agreement, when
executed and delivered by them, will be the legal, valid and binding obligation
of the Institutions, enforceable against them in accordance with its terms; (b)
to the best of their knowledge, the Institutions are the sole owner of all
right, title and interest in and to the Licensed Technology, and no other person
has any right or interest in any of the Licensed Technology; (c) no Institution
has any notice or knowledge that the Licensed Technology infringes the
proprietary rights of any third party; (d) to the best of their knowledge, the
research which led to the conception and/or reduction to practice of any of the
inventions comprising the Licensed Technology was conducted solely by employees
of the Institutions acting within the scope of their employment, and such
employees have assigned all rights and interests to such inventions to the
Institutions; (e) to the best of their knowledge, none of the funding for the
research which led to the conception and/or reduction to practice of any of the
inventions comprising the Licensed Technology was provided by Kimeragen; and (f)
to the best of their knowledge, the inventions disclosed in patent applications
included in the Licensed Technology have not been publicly used, offered for
sale, or disclosed in a printed publication by employees of the Institutions
prior to the filing of the relevant applications for the Patents.

         6.2  Representations and Warranties of Licensee.  Licensee represents
and warrants to the Institutions as follows:

                  (a) Licensee is a corporation duly organized, validly existing
and in good standing under the laws of the State of Delaware, and has all
requisite corporate power and authority to execute, deliver and perform this
Agreement;

                  (b) this Agreement, when executed and delivered by Licensee,
will be the legal, valid and binding obligation of Licensee, enforceable against
Licensee in accordance with its terms; and

                                       10
<PAGE>

                  (c) the execution, delivery and performance of this Agreement
by Licensee does not conflict with, or constitute a breach or default under, (i)
the charter documents of Licensee, (ii) any law, order, judgment or governmental
rule or regulation applicable to Licensee, or (iii) any provision of any
agreement, contract, commitment or instrument to which Licensee is a party; and
the execution, delivery and performance of this Agreement by Licensee does not
require the consent, approval or authorization of, or notice, declaration,
filing or registration with, any governmental or regulatory authority.

                                    ARTICLE 7
                                 INDEMNIFICATION

         7.1 Licensee Indemnification. Licensee will indemnify and hold harmless
the Institutions, their trustees, officers, agents and employees (collectively,
the "Indemnified Parties"), from and against any and all liability, loss,
damage, action, claim or expense suffered or incurred by the Indemnified Parties
which results from or arises out of (individually, a "Liability" and
collectively, the "Liabilities"):

                  (a)  breach by Licensee of any representation, warranty,
covenant, or agreement contained in this Agreement;

                  (b) the development, use, manufacture, promotion, sale,
distribution or other disposition of any Products by Licensee, its Affiliates,
assignees, vendors or other third parties, for personal injury, including death,
arising from any of the foregoing. Licensee will indemnify and hold harmless the
Indemnified Parties from and against any Liabilities resulting from:

                  (i) any product liability or other claim of any kind related
to the use by a third party of a Product that was manufactured, sold,
distributed or otherwise disposed by Licensee, its Affiliates, assignees,
vendors or other third parties;

                  (ii) clinical trials or studies conducted by or on behalf of
Licensee relating to any Products, including, without limitation, any claim by
or on behalf of a human subject of any such clinical trial or study, any claim
arising from the procedures specified in any protocol used in any such clinical
trial or study, any claim of deviation, authorized or unauthorized, from the
protocols of any such clinical trial or study, any claim resulting from or
arising out of the manufacture or quality control by a third party of any
substance administered in any clinical trial or study; and

                  (iii) Licensee's failure to comply with all prevailing laws,
rules and regulations pertaining to the development, testing, manufacture,
marketing and import or export of Products.

         7.2 Institutional Indemnification. The Institutions indemnify and hold
harmless the Licensee, their trustees, officers, agents and employees
(collectively, the "Indemnified Parties"), from and against any and all
liability, loss, damage, action, claim or expense suffered or incurred by the
Indemnified Parties which results from or arises out of (individually, a
"Liability" and collectively, the "Liabilities") breach by any of the
Institutions of any covenant, representation, warranty, or agreement contained
in this Agreement.

                                       11
<PAGE>

         7.3 Procedures. The Indemnified Party shall promptly notify Licensee of
any claim or action giving rise to a Liability subject to the provisions of
Article 7. Licensee shall have the right to defend any such claim or action
brought by a third party set forth in 7.1, at its cost and expense. The
indemnification rights of the University or other Indemnified Party contained
herein are in addition to all other rights which such Indemnified Party may have
at law or in equity or otherwise.
         7.4 Product Liability Insurance. Beginning with the commencement of
human clinical trials or agricultural field testing of any Product and
continuing for a period of time after Licensee ceases manufacturing and
marketing Products that is reasonable based upon industry standards, Licensee
shall maintain general liability and product liability insurance that is
reasonable based upon industry standards, but not less than [THIS PORTION HAS
BEEN REDACTED] The insurance amounts specified herein shall not be deemed a
limitation on Licensee's indemnification liability under this Agreement.
Licensee shall provide the Institutions with copies of such policies, upon
request of the Institutions. Licensee shall notify the Institutions at least ten
(10)days prior to cancellation of any such coverage.

                                    ARTICLE 8
                            PATENTS AND INFRINGEMENT

         8.1  Prosecution of Patents.

                  (a) The Licensee shall be responsible for and shall control
the preparation, prosecution and maintenance of the Patents and any other rights
included in the Licensed Technology and shall diligently prosecute and maintain
such Patents and rights. The Licensee shall keep the University of Delaware
reasonably informed of all such activity and shall make all documents relating
to the Patents available for the University of Delaware"s inspection. Licensee
shall pay all costs associated with patent prosecution.

                  (b) Licensee shall determine the countries where the Patents
will be prosecuted and maintained. If Licensee elects not to prosecute (and pay
for) any patent application in any jurisdiction, the University of Delaware may
do so at its cost and expense and any patent resulting from such application
shall be excluded from the rights granted to Licensee by this Agreement, unless
Licensee elects, within thirty days of notice from University of the issuance of
such patent, to pay five times University of Delaware"s expenses incurred in the
prosecution of such patent.

                  (c) If the Licensee elects not to maintain any issued Patent
it shall notify the University of Delaware at least 30 days prior to the taking,
or not taking, of any action which would result in abandonment, withdrawal or
lapse of such patent. The respective Institution that owns such patent shall
then have the right to maintain the patent at its own expense, and such patent
shall be excluded from the rights granted to Licensee by this Agreement.

                                       12
<PAGE>

                  (d) Each party shall cooperate with the other party to execute
all lawful papers and instruments and to make all rightful oaths and
declarations as may be necessary in the preparation and prosecution of all such
patents and other applications and protections referred to in this Article 8.1.

         8.2  Infringement by Third Party.

                  (a) Each party will promptly notify the other party of any
infringement or possible infringement of any of the Patents or other Licensed
Technology. Licensee shall have the right, but not the obligation, to prosecute
such infringement at its own expense. In such event, the Institutions shall
cooperate with Licensee, at Institutions" expense. Licensee shall not settle or
compromise any such suit in a manner that imposes any obligations or
restrictions on the Institutions or grants any rights to the Licensed Technology
which are inconsistent with the obligations of Licensee pursuant to this
Agreement, without the University of Delaware's written consent.

                  (b) If Licensee fails to prosecute or chooses not to prosecute
such infringement within one hundred and twenty (120) days after receiving
notice thereof, the University of Delaware shall have the right, but not the
obligation, to prosecute such infringement at its own expense. In such event,
Licensee shall cooperate with the University of Delaware, at the Licensee"s
expense.

                  (c) Any recovery obtained by the prosecuting party as a result
of such proceeding, by settlement or otherwise, shall be applied [THIS PORTION
HAS BEEN REDACTED].

                                    ARTICLE 9
                                 CONFIDENTIALITY

         9.1  Confidentiality.

                  (a) Both parties shall maintain in confidence and shall not
disclose to any third party the Confidential Information received pursuant to
this Agreement, without the prior written consent of the disclosing party except
that the Confidential Information may be disclosed by either party only to those
third parties (x) who have a need to know the information in connection with the
exercise by either party of its rights under this Agreement and who agreed in
writing to keep the information confidential to the same extent as is required
of the parties under this Article 9.1, or (y) to whom either party is legally
obligated to disclose the information. The foregoing obligation shall not apply
to information which:

                                       13
<PAGE>

                  (i) is, at the time of disclosure, publicly known or available
to the public, provided that Information will not be deemed to be within the
public domain merely because individual parts of such Information are found
separately within the public domain, but only if all the material features
comprising such Information are found in combination in the public domain;

                  (ii) is known to recipient at the time of disclosure of such
Confidential Information provided that recipient promptly notifies disclosing
party in writing of this prior knowledge within thirty (30) days of receipt;

                  (iii) is hereafter furnished to recipient by a third party, as
a matter of right and without restriction on disclosure, provided that recipient
promptly notifies disclosing party in writing of this third party disclosure
after receipt thereof;

                  (iv)  is made public by disclosing party;

                  (v)   is disclosed with the written approval of either party;

                  (vi) is the subject of a legally binding court order
compelling disclosure, provided that recipient must give disclosing party notice
of any request for disclosure pursuant to any legal proceeding, within two (2)
days of receipt of such request by recipient, and recipient must cooperate with
disclosing party in obtaining appropriate protective orders to preserve the
confidentiality of the Confidential Information.

                  (b) The receiving party will take all reasonable steps to
protect the Confidential Information of the disclosing party with the same
degree of care the respective parties use to protect their own confidential or
proprietary information. Without limiting the foregoing, both parties shall
ensure that all of its employees or appropriate third parties having access to
the Confidential Information of the disclosing party are obligated in writing to
keep such information confidential to the same extent as is required of the
respective parties under this Article 9.1.

                  (c) The receiving party shall not disclose the information
provided by the disclosing party to anyone other than those employees of the
receiving party or appropriate third parties who have a need to know the
information in connection with the exercise of the rights or performance of
obligations of the receiving party pursuant to this Agreement, or as otherwise
required by law, provided that the receiving party shall take steps to preserve
the confidentiality of such information to the extent allowed by law.

                                       14
<PAGE>

         9.2  Publication

                  (a) Except as permitted in paragraph 2.4, should any of the
Institutions desire to disclose publicly, in writing or by oral presentation,
Confidential Information related to the Licensed Technology, the appropriate
Institution shall notify Licensee in writing of its intention at least ninety
(90) days before such disclosure. The notice shall include a description of the
oral presentation or, in the case of a manuscript or other proposed written
disclosure, a current draft of such written disclosure. Licensee may request the
Institution, no later than ninety(90)days following the receipt of the
Institution's notice, to file a patent application, copyright or other filing
related to such Invention. All such filings shall be subject to the provisions
of Article 8.1 of this Agreement. Upon receipt of such request, the Institution
shall arrange for a delay in publication, to permit filing of a patent or other
application by the Licensee. Should Licensee reasonably determine that more than
ninety (90) days is required in order to file any such patent information
(including additional time required to perform additional research required for
adequate patent disclosure), or, if Licensee reasonably determines that such
Confidential Information cannot be adequately protected through patenting and
such Confidential Information has commercial value as a trade secret, then
publication or disclosure shall be postponed until such time such Confidential
Information can be adequately protected.

         9.3 Use of Name. Neither Licensee nor any Institution shall directly or
indirectly use the other party's name, or the name of any trustee, officer or
employee thereof, without that party's prior written consent, or disclose the
terms of this Agreement to third parties except that the Licensee may disclose
this Agreement to potential sublicensees or other appropriate third parties
under obligations of confidentiality, and may disclose an accurate description
of the terms of this Agreement to the extent required under federal or state
securities laws. The Institutions may make such disclosures as are required by
tax, grant administration, or other disclosure laws, provided that they shall
take steps to preserve the confidentiality of such information to the extent
allowed by law. Upon execution of this Agreement, and from time to time
thereafter, NaPro may issue press releases or other disclosure which identify
the Institutions as the licensors of the Licensed technology.

                                   ARTICLE 10
                              TERM AND TERMINATION

         10.1 Term. This Agreement and the licenses granted herein shall
commence on the Effective Date and shall continue, subject to earlier
termination under Articles 10.2 or 10.3 hereof, until the later of twenty years
or the expiration of the last to expire of the Patents, whichever is later.

         10.2  Termination by the University.

                  (a) Upon the occurrence of any of the events set forth below
("Events of Default"), the University of Delaware shall have the right to
terminate this Agreement in the following instances:

                  (i) nonpayment of any amount payable that is continuing sixty
(60) calendar days after the University of Delaware gives Licensee written
notice of such nonpayment;

                                       15
<PAGE>

                  (ii) material breach by Licensee of any material obligation,
covenant, representation, or warranty contained in this Agreement that is
continuing sixty(60) calendar days after the University of Delaware gives
Licensee written notice of such breach;

                  (iii) Licensee becomes subject to a Bankruptcy Event;

                  (iv) the dissolution or cessation of operations by Licensee;

         10.3  Termination by Licensee.

                  (a) Licensee shall have the right to terminate this Agreement,
at any time and with or without cause, upon ninety (90) days' written notice to
the University.

         10.4 Rights and Duties Upon Termination. Within thirty (30) days after
termination of this Agreement, each party shall return to the other party any
Confidential Information of the other party. Licensee also shall return all
Licensed Technology which is embodied in physical form to the University
promptly upon the termination of this Agreement. In the case of expiration of
this Agreement pursuant to Article 10.1, or termination of the royalty
obligation pursuant to Article 10.3(b), Licensee shall not be required to return
Confidential Information or Licensed Technology (whether or not embodied in
physical form) to the University.

         10.5 Provisions Surviving Termination. Licensee's obligation to pay any
royalties accrued but unpaid prior to termination of this Agreement shall
survive such termination. In addition, Articles 2.3, 9.1, 9.3, 9.4, 10.1, 10.4
and Articles 6 and 7 and any other provisions required to interpret the rights
and obligations of the parties arising prior to the termination date shall
survive expiration or termination of this Agreement.

         10.6 Research Funding. If Licensee terminates this Agreement pursuant
to paragraph 10.3(a), Licensee"s obligations (if any) to fund the Research
Project shall continue according to the terms set forth in Exhibit B for the
remainder of the calendar year in which the termination is effective.

                                   ARTICLE 11
                              ADDITIONAL PROVISIONS

         11.1  Arbitration.

                                       16
<PAGE>

                  (a) All disputes arising between the Institutions and Licensee
(including, without limitation, the ability to terminate this Agreement pursuant
to paragraph 10.2 or terminate the payment obligations pursuant to paragraph
10.3(b)) shall be settled by arbitration conducted in the English language by
three arbitrators in accordance with the Commercial Arbitration Rules of the
American Arbitration Association. The parties will cooperate with each other in
causing the arbitration to be held in as efficient and expeditious a manner as
practicable. Any arbitration proceeding instituted by either party under this
Agreement shall be brought in New York City.

                  (b) Any award rendered by the arbitrators shall be final and
binding upon the parties hereto. Judgment upon the award may be entered in any
court of record of competent jurisdiction. Each party shall pay its own expenses
of arbitration and the expenses of the arbitrators shall be equally shared
unless the arbitrators assess as part of their award all or any part of the
arbitration expenses of one party (including reasonable attorneys, fees) against
the other party.

                  (c) The parties irrevocably and unconditionally consent to the
jurisdiction of any such proceeding and waive any objection that they may have
to personal jurisdiction or the laying of venue in any such proceeding.

                  (d) In the event of breach or imminent breach of this
Agreement by any party which may lead to irreparable harm if not immediately
rectified, the party which may be harmed may apply for preliminary injunctive
relief of any court of competent jurisdiction, provided that any such
preliminary relief so granted shall be subject to final review and modification
in the arbitration proceeding as set forth above.

         11.2 Assignment. No rights hereunder may be assigned by the Licensee,
directly or by merger, or other operation of law, without the express written
consent of the University of Delaware except for: (i) an assignment in
connection with the sale or transfer of all or substantially all of the
Licensee's assets which relate to the Licensed Technology provided that the
buyer or transferee is at least as financially stable as Licensee and following
the sale or transfer would be as capable of performing its obligations under
this Agreement as Licensee would be; or (ii) an assignment of a security
interest in this Agreement as a part of a security interest in all or
substantially all of the Licensee's assets which relate to the Licensed
Technology. Any prohibited assignment of this Agreement on the rights hereunder
shall be null and void. No assignment shall relieve Licensee of responsibility
for the performance of any accrued obligations which it has prior to such
assignment. This Agreement shall inure to the benefit of permitted assigns of
Licensee.

         11.3 No Waiver. A waiver by either party of a breach or violation of
any provision of this Agreement will not constitute or be construed as a waiver
of any subsequent breach or violation of that provision or as a waiver of any
breach or violation of any other provision of this Agreement.

                                       17
<PAGE>

         11.4 Independent Contractor. Nothing herein shall be deemed to
establish a relationship of principal and agent between the University and
Licensee, nor any of their agents or employees for any purpose whatsoever. This
Agreement shall not be construed as constituting the University and Licensee as
partners, or as creating any other form of legal association or arrangement
which could impose liability upon one party for the act or failure to act of the
other party. No employees or staff of University shall be entitled to any
benefits applicable to employees of Licensee. Neither party shall be bound by
the acts or conduct of the other party.

         11.5 Notices. Any notice under this Agreement shall be sufficiently
given if sent in writing by prepaid, first class, certified or registered mail,
return receipt requested, addressed as follows:

                  If to Delaware, to:

                           Vice Provost for Research
                           University of Delaware
                           210 Hullihen Hall
                           Newark, DE 19716

                  if to Licensee, to:

                           NaPro BioTherapeutics Inc.
                           6304 Spine Road
                           Unit A
                           Boulder, CO 80301
                           Attention: Kai Larson
                            Vice President, General Counsel

or to such other addresses as may be designated from time to time by notice
given in accordance with the terms of this Article.

         11.6 Entire Agreement. This Agreement embodies the entire understanding
between the parties relating to the subject matter hereof and supersedes all
prior understandings and agreements, whether written or oral. This Agreement may
not be modified or varied except by a written document signed by duly authorized
representatives of both parties.

         11.7 Separability. In the event that any provision of this Agreement
shall be held to be unenforceable, invalid or in contravention of applicable
law, such provision shall be of no effect, the remaining portions of this
Agreement shall continue in full force and effect, and the parties shall
negotiate in good faith to replace such provision with a provision which effects
to the extent possible the original intent of such provision.

         11.8 Force Majure In the event that either Party"s performance of its
obligations under this Agreement shall be prevented by any cause beyond its
reasonable control, including without limitation acts of God, acts of
government, shortage of material, accident, fire, delay or other disaster,
provided that the effected Party shall have used its reasonable best efforts to
avoid or remove the cause of such nonperformance and to minimize the duration
and negative affect of such nonperformance, then such effected Party"s
performance shall be excused and the time for performance shall be extended for
the period of delay or inability to perform due to such occurrence. The affected
Party shall continue performance under this Agreement using its best efforts as
soon as such cause is removed.

         11.9 Headings. Any headings and captions used in this Agreement are for
convenience of reference only and shall not affect its construction or
interpretation.

         11.10 No Third Party Benefits. Nothing in this Agreement, express or
implied, is intended to confer on any person other than the parties hereto or
their permitted assigns, any benefits, rights or remedies.

         11.11 Governing Law. This Agreement shall be construed in accordance
with and governed by the internal laws of the State of Delaware, excluding such
state"s rules relating to conflicts of laws, and its form, execution, validity,
construction and effect shall be determined in accordance with such internal
laws.

         11.12 Counterparts. This Agreement shall become binding when any one or
more counterparts hereof, individually or taken together, shall bear the
signatures of each of the parties hereto. This Agreement may be executed in any
number of counterparts, each of which shall be deemed an original as against the
party whose signature appears thereon, but all of which taken together shall
constitute but one and the same instrument.

IN WITNESS WHEREOF, the parties hereto have duly executed this License Agreement
as of the date first above written.

University of Delaware
By:
    /s/ T.W. Fraser Russell

Thomas Jefferson University
By:
    /s/ Jussi J. Saukkonen

NAPRO BIOTHERAPEUTICS INC.
By:      /s/ Kai P. Larson
   -------------------------------
        Kai P. Larson
        Vice President, General Counsel

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