Document:

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                                                                    Exhibit 10.1

                       SELECTIVE SHARE BUY-BACK AGREEMENT

THIS AGREEMENT is made on the 13th day of November 2006

AMONG:   VITAL  DIAGNOSTICS  PTY LIMITED ACN 003 153 286 with a registered
         office at Suite 3, 13 Bridge Street,  Epping NSW 2121 ("COMPANY")

AND:     CLINICAL DATA B.V. of 24 Kanaallweg 6951 KL Dieren, The Netherlands
         ("SHAREHOLDER")

(COMPANY AND SHAREHOLDER COLLECTIVELY REFERRED TO HEREIN AS THE "PARTIES")

AND:      CLINICAL DATA,  INC. of One Gateway  Center,  Suite 702,  Newton,
          MA, USA ("CDI"),  with respect to and limited to Section 4.4,
          Section 6, and Section 7 only.

RECITALS

A.    The Shareholder is the legal and registered owner of the Shares.

B.    The parties agree that the Company will conduct the Buy-back according to
      the terms and conditions set out in this agreement.

OPERATIVE PROVISIONS

1.    DEFINITIONS AND INTERPRETATION

1.1   DEFINITIONS

      In this agreement, including the recitals, unless contrary to or
      inconsistent with the context:

      "BUSINESS DAY" means a day on which banks are open for business in New
      South Wales excluding a Saturday, Sunday or public holiday.

      "BUY-BACK" means the share buy-back to be conducted by the Company
      pursuant to the Buy-back Law pursuant to which the Shares are to be bought
      back by the Company and cancelled.

      "BUY-BACK LAW" means the requirements in relation to share buybacks under
      Division 2 of Part 2J.1 of the Corporations Act, 2001.

      "COMPLETION" means the completion of the transfer and cancellation of the
      Shares pursuant to the Buy-back.

      "COMPLETION DATE" means, provided the Conditions Precedent have been
      satisfied or waived, 13 November 2006 or any other date to which the
      parties mutually agree.

      "CONDITIONS PRECEDENT" means the conditions precedent set out in clause
      2.1.

      "DISTRIBUTION AGREEMENT" means the amended and restated distribution
      agreement between the Company and Electa Lab, s.r.l. dated as of the
      Completion Date whereby the Company will have the right to purchase and
      distribute the product lines of Electa Lab pursuant to the terms thereof.

      "ENCUMBRANCE" means:

      (a)   any right, interest, power or arrangement in relation to property or
            an asset which provides security for any debt, obligation or
            liability;

      (b)   any restrictive or positive covenant, equity, interest, set-off,
            lease, licence or assignment; or

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      (c)   any other interest in or over an interest in any asset, including
            but not limited to under any statute.

      "END DATE" means 13 November 2006 or such further date agreed to between
      the parties.

      "GOVERNMENTAL AUTHORITY" means any federal, state, local, municipal or
      other governmental department, commission, board, bureau, agency or
      instrumentality, or any court, in each case having jurisdiction over the
      applicable matter.

      "PURCHASE PRICE" means a total of USD1,500,000.00 (being approximately
      USD7.3376543 per Share).

      "SHARES" means the 204,425 ordinary shares in the capital of the Company
      held by the Shareholder immediately prior to Completion.

      "USD" means the lawful currency of the United States of America.

1.2   INTERPRETATION

      In this agreement, including the recitals, unless contrary to or
      inconsistent with the context:

      (a)   words importing:

            (i)   the singular include the plural and vice versa; and

            (ii)  a gender includes every other gender;

      (b)   a reference to a party or person includes a reference to that party
            or person, its successors, substitutes (including, but not limited
            to, a party or person taking by novation), executors, administrators
            and assigns;

      (c)   a reference to any thing or matter is a reference to the whole and
            any part of it;

      (d)   the word "person" includes a corporation and vice versa;

      (e)   a reference to a group of persons or parties is a reference to any
            two or more of them jointly and to each of them individually;

      (f)   a covenant, representation or warranty in favour of two or more
            persons is for the benefit of them jointly and severally;

      (g)   a covenant, representation or warranty on the part of two or more
            persons binds them jointly and severally;

      (h)   a reference to this agreement or other document includes any
            variation, novation or replacement of or supplement to any of them
            from time to time;

      (i)   a reference to a clause means a reference to a clause of this
            agreement;

      (j)   where any clause contains sub-clauses, paragraphs or sub-paragraphs,
            each sub-clause, paragraph and sub-paragraph however called will be
            read and construed separately and independently of each other;

      (k)   a reference to a document includes any agreement in writing,
            certificate, notice or other instruction of any kind;

      (l)   "writing" and related expressions includes all means of reproducing
            words in a tangible and permanently visible form; and

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      (m)   headings are inserted for guidance only and do not affect the
            interpretation of this agreement.

2.    CONDITIONS

2.1   CONDITIONS PRECEDENT TO COMPLETION

      The obligations of the parties under this agreement (except for the
      obligations under this clause 2.1) are subject to the prior satisfaction
      of the following conditions precedent:

      (a)   the shareholders of the Company passing a valid resolution approving
            the terms of this agreement in accordance with the Buy-back law;

      (b)   each of the parties to the Distribution Agreement having delivered
            an executed counterpart of the Distribution Agreement to each other;
            and

      (c)   the Company being satisfied that New River Management IV, LP ("NRM")
            will subscribe for a convertible note of the Company for
            consideration of USD1,500,000 in cash pursuant to the terms of a
            convertible promissory note in a form acceptable to the Company and
            NRM.

2.2   SATISFACTION AND NOTIFICATION OF CONDITIONS PRECEDENT

      (a)   The parties must use their reasonable endeavours to procure the
            satisfaction of the Conditions Precedent.

      (b)   The Company and the Shareholder must give each other immediate
            notice in writing upon becoming aware that a Condition Precedent has
            not been satisfied.

2.3   TERMINATION ON FAILURE OF CONDITION PRECEDENT

      If the Conditions Precedent are not satisfied or waived by the relevant
      party on or before the End Date then either party may terminate this
      agreement by notice in writing to the other party.

2.4   CONSEQUENCES

      On termination under clause 2.3, this agreement will be deemed to be
      rescinded from the start and to be of no further effect.

3.    AGREEMENT TO BUYBACK AND CANCEL THE SHARES; PURCHASE PRICE
      CHARACTERIZATION

3.1   The Shareholder agrees that it will transfer the Shares to the Company for
      the Purchase Price free of any Encumbrances and the Company agrees that it
      will buy back from the Shareholder and cancel the Shares as set out in
      this agreement.

3.2   The parties agree that the proceeds for the Buy-back should correctly be
      characterized for Australian income tax purposes as a return of capital in
      the aggregate amount of AUD204,425 and the balance of the proceeds as a
      franked dividend.

4.    COMPLETION

4.1   BUY-BACK

      Completion of the Buy-back will occur at the Company's office at 11 am on
      the Completion Date or such other time and place as agreed between the
      parties.

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4.2   ACTIONS OF THE SHAREHOLDER AT COMPLETION

      On or before Completion, the Shareholder must deliver or cause to be
      delivered to the Company:

      (a)   the share certificates in respect of the Shares, or if the share
            certificates have been lost or destroyed, a statement in writing
            signed by a director of the Shareholder stating:

            (i)   that the share certificates have been lost or destroyed;

            (ii)  that the share certificates have not been pledged, sold or
                  otherwise disposed of;

            (iii) if the share certificates have been lost, that a proper search
                  has been made; and

            (iv)  that the Shareholder undertakes to deliver the share
                  certificates to the Company if they are subsequently found;

      (b)   instruments of transfer of the Shares duly executed in favour of the
            Company by the Shareholder in registrable form; and

      (c)   an executed counterpart of the Distribution Agreement.

4.3   ACTIONS OF THE COMPANY AT COMPLETION

      At Completion the Company must:

      (a)   register the transfer of the Shares and cancel the Shares;

      (b)   pay the Purchase Price to the Shareholder in cleared funds; and

      (c)   deliver to the Shareholder an executed counterpart of the
            Distribution Agreement.

4.4   LICENSE OF VITAL DIAGNOSTICS TRADEMARK AT COMPLETION

      (a) CDI hereby grants to Company a non-exclusive license to use the
trademark and trade name "Vital Diagnostics" in Australia, New Zealand and New
Guinea, and not elsewhere, in connection with clinical laboratory
instrumentation, reagents, and assays or other related goods purchased by
Company from CDI or from companies or persons associated and affiliated with CDI
or with the consent of CDI from other parties ("Products"), and Company must
ensure that the trademark is used in connection with the Products and that the
Products and its uses of the trademark always comply with such rules, quality
standards and specifications as are prescribed from time to time by CDI. Company
must not apply to register said trademark or any trademark incorporating or
being substantially identical with or deceptively similar to said trademark in
Australia, New Zealand, New Guinea or elsewhere without the prior written
consent of CDI and any such application and registration resulting therefrom
shall belong to CDI. Company hereby irrevocably appoints CDI as its attorney to
execute any and all documents necessary to assign any such application or
registration to CDI and otherwise to vest all right and title to and interest in
any such application or registration in CDI.

      (b) CDI may terminate the license at any time by written notice to Company
if Company breaches the requirements outlined in (a) above and fails to remedy
such breach within 60 days of written notice from CDI specifying the breach and
requiring it to be remedied within 60 days or Company commits repeated material
breaches of the requirements outlined in (a) above or if Company goes into
liquidation (whether voluntary or compulsory) or becomes insolvent.

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5.    WARRANTIES

5.1   WARRANTIES BY THE SHAREHOLDER

      The Shareholder warrants and represents to the Company as at that date of
      this agreement and at Completion that:

      (a)   the Shareholder is a company duly formed, validly existing and in
            good standing under the laws of The Netherlands;

      (b)   the Shareholder has full power and authority to execute and deliver
            this agreement and to perform its obligations hereunder;

      (c)   this agreement has been duly and validly executed and delivered by
            the Shareholder and constitutes the valid and legally binding
            obligation of the Shareholder, enforceable in accordance with its
            terms and conditions;

      (d)   no consent of any other person, and no notice to, filing or
            registration with, or consent, approval or authorization of, any
            court or Governmental Authority, regulatory or self-regulatory
            agency or any other third party is necessary or is required to be
            made or obtained by the Shareholder, in connection with the
            execution and delivery of this agreement or the consummation of the
            transactions contemplated hereby;

      (e)   neither the execution and the delivery of this agreement, nor the
            consummation of the transactions contemplated hereby, will :

            (i)   violate the organizational documents of the Shareholder or any
                  law, rule, regulation, judgment, order or decree to which the
                  Shareholder is subject;

            (ii)  violate any contract, lease, license, instrument or other
                  legally binding arrangement or agreement to which the
                  Shareholder is a party or by which the Shareholder is bound;

            (iii) conflict with, result in a breach of, constitute a default
                  under, result in the acceleration of, create in any party the
                  right to accelerate, terminate, modify or cancel or require
                  any notice under any agreement, contract, lease, license,
                  instrument or other legally binding arrangement or agreement
                  to which the Shareholder is a party or by which it is bound or
                  to which any of its assets is subject;

      (f)   the Shareholder holds of record and owns beneficially the Shares,
            free and clear of any restrictions on transfer (other than
            restrictions under applicable securities laws) and Encumbrances and
            upon delivery of such Shares and payment therefor pursuant hereto,
            good and valid title to all such Shares free and clear of all
            Encumbrances will be transferred to the Company, and such Shares
            shall be validly issued, fully paid and nonassessable;

      (g)   the Shares represent 92.5% of the issued and outstanding shares of
            the Company;

      (h)   there is no litigation, arbitration proceeding, governmental
            investigation, citation or action of any kind pending or, to the
            knowledge of the Shareholder, proposed or threatened that seeks
            restraint, prohibition, damages or other relief in connection with
            this agreement or the consummation of the transactions contemplated
            hereby or that otherwise might impair the Shares; and

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      (i)   the Shareholder is not committed to any liability for any brokers'
            or finders' fees or any similar fees in connection with the
            transactions contemplated hereby, and the Shareholder has not
            retained any broker or other intermediary to act on its behalf in
            connection with the transactions contemplated by this agreement.

5.2   WARRANTIES BY THE COMPANY

      The Company warrants and represents to the Shareholder as at that date of
      this agreement and at Completion that:

      (a)   the Company is a company duly formed, validly existing and in good
            standing under the laws of Australia;

      (b)   the Company has full power and authority to execute and deliver this
            agreement and to perform its obligations hereunder

      (c)   this agreement has been duly and validly executed and delivered by
            the Company and constitutes the valid and legally binding obligation
            of the Company, enforceable in accordance with its terms and
            conditions;

      (d)   no consent of any other person, and no notice to, filing or
            registration with, or consent, approval or authorization of, any
            court or Governmental Authority, regulatory or self-regulatory
            agency or any other third party is necessary or is required to be
            made or obtained by the Company, in connection with the execution
            and delivery of this agreement or the consummation of the
            transactions contemplated hereby other than the Notice 484 to be
            filed by the Company with the ASIC.

      (e)   neither the execution and the delivery of this agreement, nor the
            consummation of the transactions contemplated hereby, will:

            (i)   violate any law, rule, regulation, judgment, order or decree
                  to which the Company is subject;

            (ii)  violate any contract, lease, license, instrument or other
                  legally binding arrangement or agreement to which the Company
                  is a party or by which the Company is bound; or

            (iii) conflict with, result in a breach of, constitute a default
                  under, result in the acceleration of, create in any party the
                  right to accelerate, terminate, modify or cancel or require
                  any notice under any agreement, contract, lease, license,
                  instrument or other legally binding arrangement or agreement
                  to which the Company is a party or by which it is bound or to
                  which any of its assets is subject;

      (f)   there is no litigation, arbitration proceeding, governmental
            investigation, citation or action of any kind pending or, to the
            knowledge of the Company, proposed or threatened that seeks
            restraint, prohibition, damages or other relief in connection with
            this agreement or the consummation of the transactions contemplated
            hereby;

      (g)   the Company is not committed to any liability for any brokers' or
            finders' fees or any similar fees in connection with the
            transactions contemplated hereby, and the Company has not retained
            any broker or other intermediary to act on its behalf in connection
            with the transactions contemplated by this agreement.

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6.    INDEMNITIES

6.1   INDEMNITY BY THE SHAREHOLDER

      The Shareholder hereby indemnifies and holds the Company and its
      directors, officers, members and affiliates (collectively, the "COMPANY
      INDEMNIFIED PARTIES") harmless from and against, and agrees to defend
      promptly the Company Indemnified Parties from and reimburse the Company
      Indemnified Parties for, any and all losses, liabilities, claims, damages
      (including incidental and consequential damages), costs, expenses
      (including costs of investigation and defense and reasonable attorneys'
      fees) and obligations (hereinafter referred to collectively as "LOSSES")
      that the Company Indemnified Parties may at any time suffer or incur, or
      become subject to, as a result of or in connection with:

      (a)   any breach or inaccuracy of any of the representations and
            warranties made by the Shareholder in this agreement; and

      (b)   any failure of the Shareholder to carry out, perform, satisfy and
            discharge any of its covenants, agreements, undertakings,
            liabilities or obligations under this agreement or under any of the
            instruments delivered by the Shareholder pursuant to this agreement.

      CDI guarantees the obligation of the Shareholder as set forth in this
      Section 6.1 to the extent the Shareholder is no longer in existence or is
      no longer an affiliate of CDI, or if the Shareholder does not have
      sufficient assets to fulfil its obligations under this Section 6.1.

6.2   INDEMNITY BY THE COMPANY

      The Company hereby indemnifies and holds the Shareholder, CDI, their
      respective directors, officers, members and affiliates (collectively, the
      "Shareholder Indemnified Parties") harmless from and against, and agrees
      to defend promptly the Shareholder Indemnified Parties from and reimburse
      the Shareholder Indemnified Parties for, any and all Losses that the
      Shareholder may at any time suffer or incur, or become subject to, as a
      result of or in connection with:

      (a)   any breach or inaccuracy of any of the representations and
            warranties made by the Company in this agreement; and

      (b)   any failure of the Company to carry out, perform, satisfy and
            discharge any of its covenants, agreements, undertakings,
            liabilities or obligations under this agreement or under any of the
            instruments delivered by the Company pursuant to this agreement.

7.    FURTHER ASSURANCE/COOPERATION/VITALDIAGNOSTICS.COM URL

      (a)   Each party must promptly at its cost do all things (including
            executing and if necessary delivering all documents) necessary or
            desirable to give full effect to the Buy-back and this agreement.
            After the Completion Date, the Company shall fully cooperate with,
            and deliver all necessary documents as requested by, the Shareholder
            or Clinical Data, Inc., the Shareholder's parent company, in order
            that the Shareholder may promptly comply with and file any necessary
            financial reporting, tax, governmental, or similar inquiries or
            requirements. No later than November 30, 2006, the Company shall
            deliver financial statements for the periods of July 1, 2006 through
            the Completion Date and April 1, 2006 through the Completion Date to
            Clinical Data, Inc. at One Gateway Center, Suite 702, Newton, MA,
            USA, 02458, Attn: Chief Financial Officer.

      (b)   In the event of a change of control whereby CDI is no longer the
            ultimate parent company of an entity in its "Vital Diagnostics"
            division (including the Shareholder, Spectronetics, N.V., Vital
            Scientific, N.V., NovaChem, B.V., or Electa Lab s.r.l.), the Company
            shall, upon no less than six (6) months' prior written notice from
            CDI, transfer ownership, or

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            arrange for the transfer of ownership, of the vitaldiagnostics.com
            URL to CDI or an entity designated by CDI. Furthermore, the Company
            shall, at Completion, prominently display a message on the front
            page of the Company's vitaldiagnostics.com web site indicating that
            the Company is no longer a subsidiary of CDI or an affiliate of any
            of CDI's subsidiaries, and shall remove any reference currently on
            the vitaldiagnostics.com web site (including, without limitation, in
            the "About Us" section) otherwise indicating that the Company is
            affiliated with CDI or its subsidiaries. The Company shall also
            prominently display a message on the front page of the Company's
            vitaldiagnostics.com web site directing visitors to
            http://www.clda.com/vitaldiagnostics/index.cfm in the event that
            they are trying to reach CDI or its subsidiaries or affiliates.

8.    COSTS

      Each party will pay their legal and other costs in relation to the
      preparation, execution, completion and carrying into effect of the
      Buy-back and this agreement.

9.    VARIATION

      A variation of any term of this agreement must be in writing and signed by
      the parties to be binding.

10.   WAIVER

10.1  Waiver of a breach or a right of election arising from a breach of this
      agreement must be in writing and signed by the party granting the waiver.

10.2  A breach or a right of election arising from a breach of this agreement is
      not waived by a failure to or delay in exercise, or partial exercise, of
      that right of election or any other right.

11.   NOTICES

11.1  Any notice to be given to one party by another under this agreement:

      (a)   must be in legible writing and in English addressed to the party's
            address, as follows:

                     (i) if to the Company:

                     Vital Diagnostics Pty Limited

                     Suite 3, 13 Bridge Street,

                     Epping NSW 2121

                     Attention:  Adrian Tennyenhuis

                     Facsimile: 0_ 2 98996303

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                     (ii) if to the Shareholder:

                     Clinical Data B.V.

                     c/o Clinical Data, Inc.

                     One Gateway Center, Suite 702

                     Newton, MA 02458

                     Attention:   Associate General Counsel

                     Facsimile:   617.965.0445

                     (iii) if to CDI:

                     Clinical Data, Inc.

                     One Gateway Center, Suite 702

                     Newton, MA 02458

                     Attention:  Associate General Counsel

                     Facsimile:  617.965.0445;

      (b)   must be sent to the recipient by personal or courier hand delivery,
            by prepaid ordinary post or by facsimile;

      (c)   must be signed by a duly authorised officer or under the common seal
            of the sender;

      (d)   is regarded as being given by the sender and received by the
            recipient:

            (i)   if by delivery in person, when delivered to the recipient;

            (ii)  if by post, three (3) Business Days from and including the
                  date of postage; or

            (iii) if by facsimile transmission, whether or not legibly received,
                  when the machine from which the facsimile is sent generates a
                  transmission report confirming that all pages of the notice
                  have been sent to the recipient's facsimile number; and

      (e)   may be relied upon by the recipient and the recipient is not liable
            to the other party for any consequences of that reliance if the
            recipient reasonably believes the notice to be genuine, correct and
            authorised by the sender.

11.2  DEEMED SERVICE

      If a notice is received by facsimile on a day which is not a Business Day
      or after 5.00 pm on a Business Day, that notice is regarded as received at
      9.00 am on the following Business Day.

12.   GOVERNING LAW AND JURISDICTION

      This agreement is governed by the laws of New South Wales. Each party
      irrevocably and unconditionally submits to the non-exclusive jurisdiction
      of the New South Wales courts and courts of appeal from them.

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13.   SEVERANCE

      Any provision of this agreement which is or becomes void, illegal or
      unenforceable in any jurisdiction does not affect the validity, legality
      or enforceability of that provision in any other jurisdiction or of the
      remaining provisions in that or any other jurisdiction.

14.   COUNTERPARTS

      This agreement may consist of a number of counterparts and the
      counterparts taken together constitute one and the same instrument.

15.   ENTIRE AGREEMENT

      This agreement constitutes the entire agreement and understanding between
      the parties and everything connected with the subject matter of this
      agreement and supersedes any prior agreement or understanding on anything
      connected with that subject matter.

                      [SIGNATURE PAGE IMMEDIATELY FOLLOWS]

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SIGNED as an AGREEMENT

SIGNED by                                      )
VITAL DIAGNOSTICS PTY                          )
LIMITED ACN 003 153 286                        )
in accordance with section 127 of the          )
Corporations Act 2001:                         )
                                               )
                                               )
                                               )
                                               )
                                               )
/s/ Adrian Tennyenhuis                         )    /s/ Adrian Tennyenhuis
--------------------------------               )    ----------------------------
Signature of Director/Secretary                )    Signature of Director
                                               )
Adrian Tennyenhuis                             )    Adrian Tennyenhuis
--------------------------------               )    ----------------------------
Name of Director/Secretary                          Name of Director

SIGNED  by  CLINICAL  DATA                     )
B.V.  in  accordance with its constituent      )
documents by:                                  )
                                               )
/s/ Mark S. Levine                             )    /s/ Caesar J. Belbel
--------------------------------               )    ----------------------------
Witness                                        )    Caesar J. Belbel
                                               )    Managing Director
Mark S. Levine                                 )
--------------------------------               )
Name (printed)

SIGNED by CLINICAL  DATA,                      )
INC. with respect to Section 4.4, 6, and       )
Section 7 only  in accordance with its         )
constituent documents by:                      )
                                               )
/s/ Mark S. Levine                             )    /s/ Caesar J. Belbel
--------------------------------               )    ----------------------------
Witness                                        )    Caesar J. Belbel
                                               )    Executive  Vice   President,
                                               )    Chief  Legal
                                               )    Officer, and Secretary
Mark S. Levine
--------------------------------
Name (printed)

                                       11
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                       SELECTIVE SHARE BUY-BACK AGREEMENT

                             DATED 13 November 2006

                                      AMONG

                          VITAL DIAGNOSTICS PTY LIMITED
                                 ACN 003 153 286

                                       AND

                               CLINICAL DATA B.V.

                                       AND

                               CLINICAL DATA, INC.
      (CLINICAL DATA, INC. AS A PARTY TO THE AGREEMENT WITH RESPECT TO AND
                     LIMITED TO SECTIONS 4.4, 6, AND 7 ONLY)

                              [CLINICAL DATA LOGO]

               Level 8 Angel Place 123 Pitt Street Sydney NSW 2000
                    GPO Box 983 Sydney NSW 2001 DX 101 Sydney
                      Tel 61 2 8233 9500 Fax 61 2 8233 9555
                                www.daslaw.com.au

                                       12
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                                Ref: JPR:7777777

                                       13

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<S>                                                     <C>
1. DEFINITIONS AND INTERPRETATION                        1

2. CONDITIONS                                            3

3. AGREEMENT TO BUYBACK AND CANCEL THE SHARES            3

4. COMPLETION                                            3

5. WARRANTIES                                            5

6. INDEMNITIES                                           7

7. FURTHER ASSURANCE/COOPERATION                         7

8. COSTS                                                 8

9. VARIATION                                             8

10. WAIVER                                               8

11. NOTICES                                              8

12. GOVERNING LAW AND JURISDICTION                       9

13. SEVERANCE                                           10

14. COUNTERPARTS                                        10

15. ENTIRE AGREEMENT                                    10
</TABLE><PAGE>
                                                                    Exhibit 10.2

Clinical Data
2 Thurber Boulevard
Smithfield, RL 02917
T (401) 233-6400 F (401) 233-6480

   July 20, 2006

   Mr. C. Evan Ballantyne
   27 Hearthstone Road
   Hopkinton, MA 01748

   Dear Evan:

   We are pleased to offer you the opportunity to join Clinical Data as Senior
   Vice President and Chief Financial Officer. As Chief Financial Officer, you
   will serve as a corporate officer and carry the related duties and
   responsibilities of such a position. We believe that your knowledge and
   experience will provide a good fit with our needs and objectives. In your new
   position, you will report directly to Drew Fromkin, President and CEO. The
   following outlines the key components of your compensation:

         -     Your starting annual salary will be $220,000 paid bi-weekly.

         -     You are eligible to receive up to 30% of your base annual salary
               in a bonus at the discretion of the Board of Directors. You will
               be eligible for your first annual bonus on the anniversary of
               your employment or at another time to be determined also at the
               sole discretion of the Board of Directors.

         -     You will also be granted 50,000 stock options, priced as on the
               date of your employment. The grant will vest one-third each over
               a three year period as of your start date.

         -     In addition, you will be entitled to four weeks of vacation per
               year.

         -     You will be entitled to all company benefits outlined in the
               accompanying benefits information packet. Any additional
               questions regarding the benefits can be directed to Julie Pastor
               at 401-233-6406.

         -     Your office will be located at Gateway Center, Clinical Data's
               Corporate Offices in Newton, MA. You will be required to work in
               other locations as needed.

         -     You have a Severance Provision of six months salary if terminated
               by the company, not for cause.

         -     Your starting date will be August 7, 2006 and your first
               performance review will be on or about the anniversary of your
               first day of employment.

   I have enclosed a summary of our employee benefit plans as currently in
   effect. Clinical Data reserves the right to modify, amend, or terminate any
   employee benefit plan at any time. You will be eligible to participate in our
   health, life and disability benefit plans, subject to our insurers' plan
   terms, and you will also be eligible to participate in our company's 401(k)
   plan and Flexible Spending Plan. Other employee benefits, such as our
   vacation policy, and other important company policies and procedures are
   detailed in the Clinical Data Employee Handbook and Policy Manual, a complete
   copy of which has been or will be furnished to you on your first day of
   employment (the "Employee Handbook").

<PAGE>

Mr. C. Evan Ballantyne
Page 2
July 20, 2006

Because you will be an employee entrusted with valuable, confidential and
sensitive information about Clinical Data's business and the businesses of our
customers, vendors, and partners, you are required as a condition of your
employment with Clinical Data to accept the terms and conditions of Clinical
Data's Employee Confidentiality Agreement. A copy of this Agreement is included
in your offer packet. Upon the commencement of your employment with Clinical
Data, you will be bound by the Employee Confidentiality Agreement. You are also
required to sign and return to our Human Resource department the
acknowledgements from both the Employee Handbook and Clinical Data's Expense
Policy Manual, which are also included in your offer packet. Your employment
relationship with Clinical Data is "at will" and either you or Clinical Data has
the right to terminate that employment relationship at any time, with or without
notice or a reason. Nothing in this letter should be taken as a guarantee of
continued employment or employment by Clinical Data for a specific term. This
offer of employment is contingent upon verification of the information you
provided us in the process of applying for employment.

Please indicate your acceptance of our offer of employment by signing one of the
enclosed originals of this letter and returning it to me. Signing this letter
also signifies (a) your representation to Clinical Data that you are not bound
by any agreement which prohibits or otherwise restricts your right to accept
this offer of employment and to perform the duties of your employment with
Clinical Data, and (b) your understanding that this letter contains the entire
agreement and understanding between you and Clinical Data concerning your
employment by the company, and that it merges and supersedes all prior
discussions, agreements, and understandings of every nature between you and the
company concerning your employment. This letter may not be amended or modified
except in writing signed by you and an officer of Clinical Data.

You are being offered a position at Clinical Data during an exciting time, and
we are pleased to formally welcome you on board. I look forward to seeing your
contributions to our mutual success.

Sincerely,                                  Accepted:

/s/ Lynn M. Ferrucci                        /s/ C. Evan Ballantyne
----------------------------------          ------------------------------------
Lynn M. Ferrucci                            Mr. C. Evan Ballantyne
Director, Human Resources
Clinical Data                               Date 7.23.2006

<PAGE>

            EMPLOYEE CONFIDENTIALITY AND NON-SOLICITATION AGREEMENT

In consideration of my employment and/or continued employment by Clinical Data,
Inc., a Delaware corporation having a principal place of business at One Gateway
Center, Suite 702, Newton, Massachusetts 02458(hereinafter referred to as the
"Employer"), or by any of its subsidiaries, divisions or affiliates, and its
successors and assigns, and in further consideration of the salary paid or to be
paid me by the Employer, and other consideration, the receipt and sufficiency of
which are hereby acknowledged, I agree as follows:

      1.    All non-public, confidential information communicated to me by the
            Employer relating to or concerning its business will be treated as
            confidential and proprietary trade secret information of Employer.
            Unless authorized in writing or instructed by the Employer or
            required by the lawful order or legally constituted authority, I
            will not, except as required in the conduct of the Employer's
            business, during or after my employment, disclose to others, or use,
            any of the Employer's inventions or discoveries or its secret or
            confidential information, knowledge or data which I may obtain as a
            result of my employment relating to the business or activities of
            the Employer, whether or not developed by me, unless and until, and
            then to the extent and only to the extent that such information,
            knowledge or date becomes available to the public otherwise than by
            my fault or omission.

      2.    I understand that information relating to the business plans,
            present and prospective customers and representatives of the
            Employer, business dealings with, proposals to and working
            agreements and relationships with such customers and prospective
            representatives of the Employer shall be subject to the same
            restrictions as in paragraph (1).

      3.    I also agree that for a one (1) year period after the termination of
            my employment for any reason, I will not, directly or indirectly,
            (a) solicit, call on, or otherwise deal in any way with any prospect
            customer, vendor or contractor with whom the Employer shall have
            dealt during the last two (2) years of my employment with the
            Employer (or, if I have been employed for less than two (2) years,
            during the entire duration of my employment) for a purpose which is
            competitive with the business of the Employer, or influence any such
            customer, vendor or contractor to terminate or modify any agreement
            or course of dealing with the Employer; and (b) solicit the
            employment of any employee of the Employer still in the Employer's
            employment at the time of the termination of my employment.

      4.    Upon termination of my employment for any reason, or at any time at
            the Employer's request, I shall deliver to the Employer, all keys,
            materials, documents, plans, records, notebooks, notes, written
            information, drawings or papers, and any copies thereof, in any way
            relating to the business or activities of the Employers which may be
            in my possession or under my control.

      5.    All the covenants herein shall inure to the benefit of the Employer,
            its successors, assigns, or designees, and shall be binding upon me,
            my heirs, executors, administrators and assigns.

      6.    This Agreement and the rights and obligations of the parties
            hereunder shall be construed, interpreted and enforced in accordance
            with, and governed by the laws of the State of Rhode Island.

      7.    I attach hereto Exhibit A, a list of all inventions, if any, which I
            developed solely or jointly with another prior to commencing
            employment with the Employer, and which are excluded from the
            operation of this Agreement, and I agree that said list is complete.

      8.    This Agreement represents the entire agreement between the Employer
            and me with respect to the subject matter hereof, superseding all
            previous oral and written communications, representations or
            agreements. This Agreement may be modified only by the express
            written agreement of both the Employer and me.

Signed and sealed this  23 day of July, 2006

/s/ [ILLEGIBLE]
-----------------------
[Employee Signature]

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