Document:

Collaborative Research Agreement

			
	CONFIDENTIAL TREATMENT REQUESTED	 	EXHIBIT 10.19

 CONFIDENTIAL TREATMENT REQUESTED UNDER RULE 24(b)(2) OF THE SECURITIES AND EXCHANGE ACT OF 1934. CONFIDENTIAL
TREATMENT IS REQUESTED AND IS NOTED WITH “[CONFIDENTIAL TREATMENT REQUESTED].” AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN PREVIOUSLY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION. 
 COLLABORATIVE RESEARCH 
 AGREEMENT 
 BETWEEN 
 UNIVERSITY OF BRADFORD 
 AND 
 SOMANTA INCORPORATED 

 CONFIDENTIAL TREATMENT REQUESTED 
 Collaborative Research Agreement 
 This agreement dated the 1st day of March 2006 is
between: 
  

	(1)	UNIVERSITY OF BRADFORD (“ The University”) established in England whose principal address is Richmond Road, Bradford, BD7 1DP, UK; and 

  

	(2)	SOMANTA Incorporated (“Somanta”) a company incorporated in the United States under the law of Delaware with a registered office at 80 Harley Street, London, W1G
7HL, UK. 

 RECITALS: 
  

	A.	Somanta and The University intend to enter into a research collaboration agreement under which The University shall conduct further research funded by Somanta on the invention(s)
disclosed by The Patents, which are owned by or exclusively licensed to Somanta. 

 IT IS AGREED as follows: 
  

	1.	Definitions 

 In this Agreement the following words shall
have the following meanings: 
  

					
	1.1	 	“Background Information”	  	any information and/or Know-how made available by either party to the other party pursuant to Clause 4.1;
			
	1.2	 	“Commencement Date”	  	The Commencement Date shall be the date of signing this Agreement;
			
	1.3	 	“Intellectual Property”	  	 means all of the following and as they exist in all jurisdictions throughout the world:
  
 1.3.1 patents, patent applications and inventions, designs and improvements described and claimed
therein, patentable inventions and other patent rights (including any divisions, continuations, continuations-in-part, substitutions, or reissues thereof, whether or not patents are issued on any such applications and whether or not any such
applications are modified, withdrawn, or resubmitted);
  
 1.3.2 trademarks, service marks,
trade dress, trade names, brand names, designs, logos, or corporate names, whether registered or unregistered, and all registrations and applications for registration thereof; and
  
 1.3.3 copyrights, including all renewals and extensions thereof, copyright registrations and
applications for registration thereof.

 CONFIDENTIAL TREATMENT REQUESTED 
  

					
	1.4	 	“Background Intellectual Property”	  	Intellectual Property previously developed and owned or exclusively licensed to the respective parties which is required for carrying out the responsibilities in the Research Project pursuant to
Clauses 4.2 and 4.3 and Schedule 2;
			
	1.5	 	“Know-how”	  	All technical information in the Field created during research carried out by The University under the direction of Prof. Laurence Patterson in the possession of The University relating directly
to the inventions claimed in The Patents;
			
	1.6	 	“The Patents”	  	[CONFIDENTIAL TREATMENT REQUESTED]
			
	1.7	 	“Patent A”	  	[CONFIDENTIAL TREATMENT REQUESTED]
			
	1.8	 	“Patent B”	  	[CONFIDENTIAL TREATMENT REQUESTED]
			
	1.9	 	“Payment Schedule”	  	The payments due to be paid by Somanta to The University for research conducted under the agreed Project Plan and set out in Schedule 1 and Clause 3.1.
			
	1.10	 	“Project Intellectual Property”	  	All Intellectual Property arising out of the Research Project within the Project Plan including, without limitation, the Project Information;
			
	1.11	 	“Project Information”	  	all discoveries, inventions, whether patentable or not, results, data, analyses, designs, formulae, processes, specifications, reports, methods, Know-how, trade secrets, drawings or other
information arising out of the Research Project;
			
	1.12	 	“Project Plan”	  	the timetable, research and development objectives, deliverables and plan of work for the Research Project agreed by The University and Somanta, and set out in Schedule 2 as may be amended from
time to time;
			
	1.13	 	“University’s Project Responsibilities”	  	the work to be carried out by The University under the Research Project as described in Schedule 2 as may be amended from time to time;

 CONFIDENTIAL TREATMENT REQUESTED 
  

					
	1.14	 	“University’s Project Scientists”	  	including Prof. Laurence Patterson and his research team (employed by The University) and any replacements thereof;
			
	1.15	 	“University’s Project Team”	  	The University’s Project Scientists and any other individuals involved in the Research Project by The University;
			
	1.16	 	“Field”	  	Area of scientific research undertaken by the University Project Team to complete the Research Project;
			
	1.17	 	“The Research Project”	  	The research undertaken as described in the Project Plan and performed by The University’s Project Team;
			
	1.18	 	“The Research Team”	  	The team involved in the delivery of the research collaboration including the University’s Project Team and those individuals involved in the research either directly or indirectly at
Somanta;

 CONFIDENTIAL TREATMENT REQUESTED 
  

	2.	The Research Project 

  

	2.1 	The University shall carry out its Project Responsibilities with reasonable skill and care, and in accordance with the timetable and scope set out specifically in the Project Plan
(Schedule 2) in connection to The Patents which is the condition precedent of the Research Project. 

  

	2.2 	At the end of each three month period, The University shall notify Somanta with a progress report on the Research Project setting out the following:- 

  

	2.2.1 	the work which The University has carried out on the Research Project during the previous three months; 

  

	2.2.2 	any data and/or results obtained during the previous three months; 

  

	2.2.3 	the work that The University intends to carry out during the next three months; and 

  

	2.2.4 	details of any inventions made in the course of carrying out the Research Project as described in the Project Plan. 

  

	2.3 	Within 14 days of the end of each calendar quarter the parties shall meet to discuss progress on the Research Project in general and in particular The University’s latest
progress report submitted under Clause 2.2. The University shall procure that the Project Scientists shall attend such meetings together with such other members of the University’s Project Team as Somanta may reasonably request. This meeting
should occur at a destination and time previously agreed by both parties and at Somanta’s expense. 

  

	2.4 	 The University shall use The University’s Project Scientists to carry out and/or supervise The University’s Project Responsibilities. If, due to
circumstances beyond the reasonable control of The University, it is necessary to replace any of the University’s Project Scientists then the parties shall promptly meet to discuss potential 

 CONFIDENTIAL TREATMENT REQUESTED 
  

	 	 
replacements of equivalent qualification and experience in the Field. The University shall not replace any of The University’s Project Scientists on the
Research Project without the prior written approval of Somanta. 

  

	2.5	The University shall have discretion following consultation with Somanta to replace other members of The University’s Project Team during the Research Project with replacements
of appropriate qualifications, skills and experience in the Field. 

  

	3.	Payment 

  

	3.1	In consideration of The University complying with its obligations under this Agreement, Somanta shall pay to The University the amounts set out in the Payment Schedule paid
quarterly, in arrears from the Commencement Date. 

  

	3.2	All sums due under this Agreement shall be paid in [CONFIDENTIAL TREATMENT REQUESTED]. 

  

	3.3	Sums specified in this Agreement in relation to the Payment Schedule are [CONFIDENTIAL TREATMENT REQUESTED] of Value Added Tax. 

 CONFIDENTIAL TREATMENT REQUESTED 
  

	4.	Ownership and Use of Background Information, Background Intellectual Property and the Project Intellectual Property 

  

	4.1	Each party shall make available to the other such of its Background Information as may assist the other party in carrying out its responsibilities under the Research Project
provided that nothing in this Clause 4.1 shall oblige either party to act in breach of a confidentiality obligation owed to any third party. 

  

	4.2	Ownership of Background Intellectual Property shall remain vested in the party making such Background Intellectual Property available. 

  

	4.3	Each party hereby grants to the other a non-exclusive, non-transferable, non-sublicensable, royalty-free licence to make use of its Background Intellectual Property solely for the
purposes of carrying out its responsibilities under the Research Project. 

  

	4.4	 Somanta shall own the entire right, title and interest in and to all Project Intellectual Property discovered, developed, or invented in the course of performing
the Research Project as defined within the Project Plan or otherwise related to Alchemix or Prodrax, whether solely by a party or jointly by the parties subject to clause 4.5. The University hereby assigns to Somanta all right, title and interest,
if any, The University has in any Project Intellectual Property; provided that in the event that the foregoing assignment would be void or impermissible, then The University automatically shall be deemed to have granted to Somanta the perpetual,
irrevocable, fully paid-up, freely sub-licensable license to use and practice such Project Intellectual Property for any and all purposes, which license shall be exclusive to Somanta, and which license shall survive any expiration or termination of
this Agreement. Notwithstanding the foregoing, Somanta hereby grants to The University a perpetual, irrevocable, royalty-free, non-sublicensable license to use and practice Project Intellectual Property solely for non-commercial research purposes.
University 

 CONFIDENTIAL TREATMENT REQUESTED 
  

	 	 
hereby agrees that any and all University employees, students or any other persons who provide services in connection with the Research Project will have
assigned any and all rights such employee, student or any other person may obtain in any technology or other information by virtue of such services to the University. 

  

	4.5	Somanta shall have the exclusive right to apply for patents in respect of improvements and/or inventions made in the course of the Research Project within The Project Plan and The
University shall provide Somanta with such assistance as Somanta shall from time to time request with the filing and prosecution of such patent applications, entirely at Somanta’s expense. 

  

	4.6	For the avoidance of doubt, notwithstanding Clause 4.4, The University and Somanta shall own the Intellectual Property, improvements and inventions created or arising outside The
Project Plan and unrelated to either Alchemix or Prodrax jointly or solely in accordance of contribution of each party; provided, however, that University hereby grants to Somanta an option (right of first refusal) to license such Intellectual
Property and improvements based on fair and reasonable commercial terms following negotiation with The University. 

  

	5.	Confidential Information and Publications 

  

	5.1	In this Agreement, subject to Clause 5.2:- 

  

	5.1.1 	“Confidential Information” belonging to Somanta shall mean Somanta’s Background Information, the Project Information and any other information disclosed to The
University by Somanta relating to Somanta’s business, technical and/or research plans; 

  

	5.1.2 	“Confidential Information” belonging to The University shall mean The University’s Background Information. 

 CONFIDENTIAL TREATMENT REQUESTED 
  

	5.2	“Confidential Information” shall not include any information which:- 

  

	5.2.1 	is or becomes public knowledge through no improper conduct on the part of the party receiving the Confidential Information; and/or 

  

	5.2.2 	is already lawfully possessed by the party receiving Confidential Information prior to receiving it; and/or 

  

	5.2.3 	is obtained subsequently from a third party without any obligations of confidentiality and such third party is in lawful possession of such material and is not in violation of any
contractual or legal obligation to maintain the confidentiality of such material. 

  

	5.3	The onus shall be on the party asserting that any of the exceptions set out in Clause 5.2 apply to prove, by competent written evidence, that such exceptions apply.

  

	5.4	Each party shall, and shall procure that its respective employees and members of the Research Team shall keep confidential all Confidential Information belonging to the other party
and shall not use any Confidential Information belonging to the other party other than for the purposes of carrying out the Research Project and/or exercising its rights hereunder. 

  

	5.5	Each party shall take all reasonable steps to:- 

  

	5.5.1 	ensure that only the Research Team and other necessary personnel shall have access to Confidential Information belonging to the other party; and 

  

	5.5.2 	ensure that its Research Team members use Confidential Information belonging to the other party for the sole purpose of carrying out the Research Project or exercising its rights
hereunder. 

 CONFIDENTIAL TREATMENT REQUESTED 
  

	5.6	Each party shall procure that each of its employees and members of the Research Team are bound by appropriate confidentiality and non-use obligations in respect of Confidential
Information belonging to the other party. 

  

	5.7	The University shall be entitled to publish the results of work carried out by The University under the Research Project provided that:- 

  

	5.7.1 	All proposed publications (including, but not limited to, scientific publications, patent applications and non-confidential presentations), shall be submitted in writing to Somanta
for review at least thirty (30) days before submission for publication or before presentation. Somanta may require the deletion from the publication of any Background Intellectual Property or Information, or an amendment to the publication
through which commercially sensitive Background Intellectual Property and/or Information is disguised to the satisfaction of Somanta. Somanta may also request the delay of the publication if in it’s opinion the delay is necessary in order to
seek patent or similar protection to Project Intellectual Property. Any delay imposed on publication shall not last longer than is reasonably necessary to obtain the required protection; and shall not exceed six (6) months from the date of
receipt of the proposed publication by Somanta. Notification of the requirement for delay in publication must be received by the University within thirty (30) days after receipt of the proposed publication by Somanta, failing which the
University shall be free to assume that Somanta has no objection to the proposed publication and 

  

	5.7.2 	the proposed publication does not contain any Confidential Information belonging to Somanta, unless Somanta has consented thereto in writing. 

  

	5.8	Any publication of the results of the Research Project shall acknowledge the assistance of Somanta and will include Somanta collaborators as co-authors whenever it applies.

  

	5.9	 The obligations of confidentiality and non-use set out in this Clause 5 shall remain in force and shall be binding upon the parties for so long as any party has
knowledge or 

 CONFIDENTIAL TREATMENT REQUESTED 
  

	 	 
possession of any Confidential Information belonging to the other party and for the avoidance of doubt shall survive any termination or cancellation of this
Agreement. 

  

	6.	Duration and Termination 

  

	6.1	This Agreement shall commence on the Commencement Date and shall expire on completion of the Research Project unless sooner terminated in accordance with the provisions of this
Clause 6. 

  

	6.2	Either party may terminate this Agreement forthwith if:- 

  

	6.2.1 	the other party breaches any provision of this Agreement and, having been notified of such breach, fails to remedy it within 30 days of notification; or 

  

	6.2.2 	any of the following events occur:- 

  

	6.2.2.1 	an order is made or a resolution passed for the winding up of the other party (other than for the purpose of a solvent scheme of reconstruction or amalgamation);

  

	6.2.2.2 	an administration, administrative receiver or receiver is appointed in respect of a material part of the other party’s assets or business; or 

  

	6.2.2.3 	as a consequence of financial difficulties the other party makes any voluntary arrangement with its creditors; or 

  

	6.2.2.4 	the other party ceases to continue its business; or 

  

	6.2.2.5 	the other party becomes unable to pay its debts as and when they fall due; 

  

	6.2.2.6 	as a consequence of debt and/or maladministration, the other party takes or suffers any similar or analogous action to those listed in Clauses 6.2.2.1 to 6.2.2.3 above.

  

	6.2.2.7 	The Patents or the licence of The Patents becomes invalid, expired or terminated. 

 CONFIDENTIAL TREATMENT REQUESTED 
  

	7.	Consequences of Expiry and Termination 

  

	7.1	On expiry or termination of this Agreement for any reason:- 

  

	7.1.1 	Subject to Clause 7.1.2, each party shall return all materials containing any Background Information in its possession or control to the party which made such Background Information
available; 

  

	7.1.2 	The University shall immediately hand over to Somanta all samples or other materials containing any Project Information in its possession or control; and 

 

	7.1.3 	Subject to Clause 7.2, the provisions of Clauses 4.2, 4.4 to 4.6 inclusive, 5 and 7 shall continue in full force and effect. 

  

	7.2	Expiry and termination of this Agreement shall be without prejudice to any other right or remedy for breach of this Agreement which either party may have which accrued on or prior
to the date of expiry or termination. 

  

	8.	General 

  

	8.1	Notices 

  

	8.1.1 	Any notice or other communication given under this Agreement shall be in writing and shall be sent by pre-paid first class mail or by fax (confirmed by pre-paid first class mail
placed in the post on or on the day after the date of transmission) to the other party at the address set out at the beginning of this Agreement or to such other address or fax number as may from time to time be notified to the other party in
writing. 

  

	8.1.2 	 Any notice so sent by pre-paid first class mail shall be deemed to have been given on the third business day from and including the date of posting. Any notice so
sent by 

 CONFIDENTIAL TREATMENT REQUESTED 
  

	 	 
fax (and confirmed by first class mail as aforesaid) shall be deemed to have been given the next business day following the day of transmission.

  

	8.2	Severability 

 If any provision of this
Agreement is declared by any judicial or other competent authority to be void, voidable, illegal or otherwise unenforceable then the remaining provisions of this Agreement shall continue in full force and effect. The judicial or other competent
authority making such determination shall have the power to limit, construe or reduce the duration, scope, activity and/or area of such provision, and/or delete specific words or phrases as necessary to render, such provision enforceable.

  

	8.3	Waiver 

 Failure or delay by any party to
exercise any right or remedy under this Agreement shall not be deemed to be a waiver of that right or remedy, or prevent it from exercising that or any other right or remedy on that occasion or on any other occasion. 
  

	8.4	Entire Agreement and Amendments 

  

	8.4.1 	This Agreement constitutes the entire agreement and understanding of the parties relating to the subject matter of this Agreement and supersedes all prior oral or written
agreements, representations, understandings or arrangements between the parties. 

  

	8.4.2 	The parties acknowledge that they are not relying on any agreement, understanding, arrangement, warranty, representation or term which is not set out in this Agreement.

  

	8.4.3 	Nothing in this Clause 8.4 shall operate to:- 

  

	8.4.3.1 	exclude any provision implied into this Agreement by law and which may not be excluded by law; or 

 CONFIDENTIAL TREATMENT REQUESTED 
  

	8.4.3.2 	limit or exclude any liability, right or remedy to a greater extent than is permissible under law. 

  

	8.4.4 	No change may be made to this Agreement except in writing signed by the duly authorised representatives of each of the parties. 

  

	8.4.5 	Either party may propose changes to the Project Plan (described in Schedule 2). Proposed changes must be agreed to in writing by both parties. Appropriate changes to the budget
(Schedule 1) will be agreed to in writing prior to implementation of any Project Plan changes. 

  

	8.5	Relationship of the Parties 

  

	8.5.1 	Nothing in this Agreement shall create evidence or imply any agency, partnership or joint venture between the parties. 

  

	8.5.2 	No party shall act or describe itself as the agent of any of the other parties nor shall a party represent that it has any authority to make commitments on behalf of the other
parties. 

  

	8.6	Assignment and Sub-contracting 

 This
Agreement is personal to the parties and neither party shall assign, transfer, sub-license, sub-contract, charge, or otherwise deal in its rights or obligations under this Agreement except in the circumstance whereby Somanta undergoes a merger,
consolidation or sale of substantially all its assets in which case it may assign this Agreement to any party in conjunction with the aforementioned. 

 CONFIDENTIAL TREATMENT REQUESTED 
  

	8.7	Publicity 

 Except as required by law or
regulation and subject to clause 5.7, no one shall make any announcement, or comment upon, or originate any publicity, or otherwise provide any information to any third party (other than its legal advisors) concerning this Agreement (including
without limitation the existence of this Agreement, the performance of this Agreement and/or any dispute, arbitration or disagreement relating to this Agreement) without the prior written consent of the other parties. The parties acknowledge that
Somanta is required to include a description of this Agreement, with a copy attached, in its regulatory filings. 
  

	8.8	Further Assurances 

 As and when requested by
another party, each party shall, and shall procure that their respective employees shall, do all acts and execute all documents as may be reasonably necessary to give effect to the provisions of this Agreement. 
  

	8.9	Headings 

 The headings used in this
Agreement are for convenience only and shall not affect the interpretation of this Agreement. 
  

	8.10	University’s Project Team 

 In this
Agreement, unless the context otherwise requires, an obligation by The University to do, or not to do, an act shall be deemed to include an obligation on The University to procure that each member of The University’s Project Team shall do, or
not do, that act. 

 CONFIDENTIAL TREATMENT REQUESTED 
  

	8.11	Law and Jurisdiction 

 The validity,
construction and performance of this Agreement shall be governed by English law and the parties accept the exclusive jurisdiction of the English courts in respect thereof. 
 SIGNED ON BEHALF OF THE UNIVERSITY OF BRADFORD: 

			
		
	SIGNATURE: 	 	 /s/ N.J. Andrews

	 NAME:
	 	 N.J. Andrews

	 POSITION:
	 	 Registrar and Secretary

 DATE: February 22, 2006 
 SIGNED ON BEHALF OF SOMANTA: 

			
		
	SIGNATURE: 	 	 /s/ Agamemnon Epenetos

	 NAME:
	 	 Agamemnon Epenetos

	 POSITION:
	 	 CEO

 DATE: February 17, 2006 

 CONFIDENTIAL TREATMENT REQUESTED 
  
 Schedule 1 
 The Payment Schedule 
 [CONFIDENTIAL TREATMENT REQUESTED] 

 CONFIDENTIAL TREATMENT REQUESTED 
  
 Schedule 2 
 The Project Plan 
 Research project 
 The R & D project aims: 
  

	 	(i)	To synthesise and further evaluate Alchemix and other related compounds (as specifically described in the Patent A) as a potent anticancer agent with activity against MDR and MMR
resistant tumours. 

  

	 	(ii)	To identify and synthesise several compounds (collectively known as Prodrax and as specifically described in Patent B) and evaluate their biological activity in vitro and
in vivo. 

  

	 	(iii)	To provide additional in vivo and in vitro data on Alchemix in order to support the requirements for an IND (or equivalent) to initiate clinical trials.

 If resourcing issues lead to a conflict in the above aims, then item (iii) above will take priority. 
 Deliverables: 
  

	 	(i)	Research: Synthesis and evaluation of novel chloroethylaminoanthraquinones based on the non-symmetrical structure of Alchemix that are more active against MMR cells and show
no cross resistance to MDR expressing tumours. 

  

	 	(ii)	Research: Synthesis of the di-N-oxides of chloroethylaminoanthraquinones (Prodrax family of compounds) as bioreductive prodrugs that are metabolised to potent
cytotoxins in hypoxic tumours. 

  

	 	(iii)	Preclinical development: Evaluate tumour activity of Alchemix alone and in chemotherapy combination as described in this Schedule 2. Information regarding pharmacokinetic and
pharmacodynamics of Alchemix in vivo. 

 Summary of Project Requirements 
 Two-year research programme (starting 1st March 2006) in which a postdoctoral chemist will develop Prodrax compounds (as specifically described in Patent B). A chemistry technician will carry out larger scale synthesis of Alchemix and Prodrax derivatives (as
specifically described in The Patents) for in vivo testing using the facilities at the Institute of Cancer Therapeutics, University of Bradford. 

 CONFIDENTIAL TREATMENT REQUESTED 
  
 Plan of work 
 Synthesis of
Alchemix analogues and Prodrax derivatives. 
 1. The synthesis and chemical characterisation of Alchemix and selected derivatives as potential
alternative compounds of interest will be carried out in-house by a postdoctoral organic chemist under the supervision of Prof Patterson and his team. Methods previously developed by this group will be employed. Sufficient amounts of Alchemix and
selected derivatives (as described in Patent A) will be prepared for studies in vivo. No technical problems are envisaged. 
 2. Synthesis and
chemical characterisation of Prodrax derivatives and reduction metabolites will be carried out in-house by a postdoctoral chemist using established methods. Since many of these agents exist as racemic mixtures an attempt to prepare enantiomerically
pure isomers will be made. Routes to asymmetric synthesis will be explored. Alternatively chromatographic separation of the enantiomers will be carried out. 
 Preclinical work schedule for Alchemix evaluation in vivo [compound administered i.p. throughout if Stage 2 shows equivalence between ip and iv] 
  

	1.	Analytical method development for Alchemix in tumour / blood samples 

  

	2.	Assessment and comparison of pharmacokinetics & biodistribution of Alchemix when administered via the ip and iv routes. 

  

	3.	Evaluation of MTD 

  

	4.	Set up 3 xenografts: [CONFIDENTIAL TREATMENT REQUESTED] and maintain throughout the work schedule. 

  

	5.	Efficacy at MTD single dose, 1/5MTD split dose, vs. doxorubicin (+ve control) 

  

	6.	Efficacy (and toxicity) with optimum scheduling alone and in combination with dox/cis/gemcitabine/taxol (given at MTD single dose) in one of the 3 xenografts that gave best results
in #3. 

  

	7.	Extensive PK analysis (6 time points, choose ONE of the 3 xenografts to work with) 

  

	8.	Molecular evidence of activity (3 time points, optimised from PK analysis, same xenograft) 

 Time Schedule of work 
 (i) & (ii) Synthesis of Alchemix analogues and Prodrax derivatives.

 This work will begin on recruitment of appropriate personnel and within a maximum 3 months of signing this agreement. 
 (iii) Work schedule for in vivo Alchemix evaluation 
 This work will begin as soon as possible and is anticipated to be complete by end-July 2006.Patent and Know-how Assignment and License Option Agreement

			
	CONFIDENTIALITY TREATMENT REQUESTED	  	EXHIBIT 10.7

 CONFIDENTIAL TREATMENT REQUESTED UNDER RULE 24(b)(2) OF THE SECURITIES AND EXCHANGE ACT OF 1934. CONFIDENTIAL
TREATMENT IS REQUESTED AND IS NOTED WITH “[CONFIDENTIAL TREATMENT REQUESTED].” AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN PREVIOUSLY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION. 
 PATENT AND KNOW-HOW 
 ASSIGNMENT AND LICENSE 
 OPTION AGREEMENT 
 BY AND AMONG 
 THE SCHOOL OF PHARMACY, 
 UNIVERSITY OF LONDON 
 AND

 SOMANTA LIMITED 

 CONFIDENTIAL TREATMENT REQUESTED 
  

 Patent and know-how assignment and license option agreement 
 THIS AGREEMENT dated March 16, 2004 is between: 
  

	(1)	THE SCHOOL OF PHARMACY (“The School of Pharmacy”) incorporated in England whose principal address is 28-38 Brunswick Square, London WC1N 1AX; and

  

	(2)	SOMANTIS LIMITED (“Somantis”) a company incorporated in England and Wales, (with company number [4201851]) whose registered office is at 117 Alexandra Park Road,
London N10 2DP. 

 RECITALS: 
  

	A.	The School of Pharmacy is the owner of the Patents (as defined below) and possesses related Know-how. 

  

	B.	The School of Pharmacy is willing to grant to Somantis and Somantis is willing to accept, an option to obtain an assignment of the Patents and a licence to use the Know-how (as
defined below), in accordance with the provisions of this Agreement. 

  

	C.	Somantis and The School of Pharmacy have entered into a Research Collaboration Agreement under which The School of Pharmacy shall conduct further research funded by Somantis on the
invention(s) disclosed by the Patents. 

  

	D.	In accordance with the Research Collaboration Agreement between the School of Pharmacy and Somantis, Somantis has agreed to pay the patent costs. 

 IT IS AGREED as follows: 
  

	1.	Definitions 

 In this Agreement, the following words shall have the
following meanings: 
  

			
	Affiliate	  	In relation to a Party, means any entity or person, which controls, is controlled by, or is under common control with that Party. For the purposes of this definition, “control”
shall mean direct or indirect beneficial ownership of 50% (or, outside a Party’s home territory, such lesser percentage as is the maximum, permitted level of foreign investment) or more of the share capital, stock or other participating
interest carrying the right to vote or to distribution of profits of that entity or person, as the case may be.
		
	Field	  	The treatment of cancer using the invention(s) disclosed in the Patents.

  

 2 

 CONFIDENTIAL TREATMENT REQUESTED 
  

			
		
	Know-how	  	All technical information in the Field created during research carried out by The School of Pharmacy under the direction of Prof. Laurence Patterson in the possession of The School of Pharmacy
relating directly to the inventions claimed in the Patents.
		
	Option Exercise Date	  	 Shall have the meaning given in Clause 8.1.

		
	Net Receipts	  	The total amounts received by Somantis or its Affiliates from any person to whom it grants a licence or sub-licence under the Patents and/or Know-how (less any Value Added Tax or other sales
tax), excluding payments made for research work actually performed, but including without limitation, up-front payments, milestone payments, royalties, Premium on Equity from a licensee or sub-licensee, in each case reasonably allocable to such
licence or sublicence rights under the Patents and/or Know-how. “Premium on Equity” means the amount by which amounts received by Somantis for a particular equity security exceed the fair market value of such security.
		
	Net Sales Value	  	The [CONFIDENTIAL TREATMENT REQUESTED] price of Royalty-bearing Products sold by Somantis or its Affiliates to independent third parties in arm’s length transactions exclusively for
money or, where the sale is not at arm’s length, the price that would have been so [CONFIDENTIAL TREATMENT REQUESTED] if it had been at arm’s length, after deduction of normal trade discounts actually granted and any credits
actually given and, provided the amounts are separately charged on the relevant [CONFIDENTIAL TREATMENT REQUESTED], any costs of packaging, insurance, carriage and freight, any value added tax or other sales tax, and any import duties or
similar applicable government levies.
		
	Parties	  	The School of Pharmacy and Somantis, and “Party” shall mean either of them.
		
	Patents	  	Any and all of the patents and patent applications referred to in Schedule 1, including any continuations, continuations in part, extensions, reissues, divisions, and any patents, supplementary
protection certificates and similar rights that are based on or derive priority from the foregoing.
		
	Research Collaboration Agreement	  	A research collaboration agreement between The School of Pharmacy and Somantis under which Somantis shall fund further research by The School of Pharmacy on the invention(s) disclosed in the
Patents on terms acceptable to both parties.

  

 3 

 CONFIDENTIAL TREATMENT REQUESTED 
  

			
		
	Royalty-bearing Products	  	Any and all products in the Field that are manufactured, sold or otherwise supplied by Somantis and are within any Valid Claim of the Patents or use the Know-how.
		
	Territory	  	The World.
		
	Valid Claim	  	A claim of a patent or patent application that has not expired or been held invalid or unenforceable by a court of competent jurisdiction in a final and non-appealable judgment.

  

	2.	Grant of rights 

  

	2.1	Grant of Option. The School of Pharmacy hereby grants to Somantis the right to purchase and acquire the Patents in accordance with Clause 8.1. 

  

	2.2	Assignment and Licence. On the Option Exercise Date subject to the provisions of this Agreement, The School of Pharmacy shall: 

  

	 	(a)	Assign the Patents to Somantis; and 

  

	 	(b)	Grant to Somantis an exclusive licence in the Field to use the Know-how, with the right to sub-license, to develop, manufacture, have manufactured, use and sell Royalty-bearing
Products in the Field in the Territory. 

  

	2.3	Formal assignments and licences. In order to effect the assignments and licence contemplated by Clause 2.2, the Parties shall execute such formal assignments and licences as
may be necessary or appropriate for registration with Patent Offices and other relevant authorities in particular territories; and in any event, at Somantis’ request, The School of Pharmacy shall execute an assignment in the form set out in
Schedule 3. In the event of any conflict in meaning between any such assignment or licence and the provisions of this Agreement, the provisions of this Agreement shall prevail wherever possible. Prior to the execution of the formal assignment(s) and
licence(s) (if any) referred to above, the Parties shall so far as possible have the same rights and obligations towards one another as if such assignment(s) and licence(s) had been granted. The Parties shall use reasonable endeavours to ensure
that, to the extent permitted by relevant authorities, this Agreement shall not form part of any public record. 

  

	2.4	Reservation of rights. From the Option Exercise Date Somantis grants to The School of Pharmacy the non-exclusive right to use the Patents, and The School of Pharmacy reserves
the non-exclusive right for itself to use the Know-how, for the purposes of academic, non-commercial research and publication of such research, subject to the confidentiality provisions set out in Clause 3 below. 

  

 4 

 CONFIDENTIAL TREATMENT REQUESTED 
  

	3.	Know-how and Confidential Information 

  

	3.1	Provision of Know-how. Upon Somantis’ reasonable request, The School of Pharmacy shall supply Somantis with all Know-how in its possession that The School of Pharmacy is
at liberty to disclose and has not previously been disclosed and which is reasonably necessary or desirable to enable Somantis to undertake the further development of the Royalty-bearing Products. The Know-how shall be subject to the confidentiality
provisions of Clause 3.4 and The School of Pharmacy shall be bound by such provisions as if the Know-how had been developed by Somantis and disclosed to The School of Pharmacy hereunder. If it is agreed that any representative of The School of
Pharmacy shall travel to Somantis’ premises in connection with such supply, Somantis shall reimburse all travel (at business class rates), accommodation and subsistence costs incurred. 

  

	3.2	Status of Know-how. Somantis acknowledges that the Know-how is at an early stage of development. Accordingly, specific results cannot be guaranteed and any results,
materials, information or other items (together “Delivered Items”) provided under this Agreement are provided “as is” and without any express or implied warranties, representations or undertakings. As examples, but without
limiting the foregoing, The School of Pharmacy does not give any warranty that Delivered Items do not infringe third party rights, are of merchantable or satisfactory quality, are fit for any particular purpose, comply with any sample or
description, or are viable, uncontaminated, safe or non-toxic. 

  

	3.3	Responsibility for development of Royalty-bearing Products. Somantis shall be exclusively responsible for the technical and commercial development and manufacture of
Royalty-bearing Products and for incorporating any modifications or developments thereto that may be necessary or desirable and for all Royalty-bearing Products sold or supplied, and accordingly Somantis shall indemnify The School of Pharmacy in the
terms of Clause 7.4. 

  

	3.4	Confidentiality obligations. Subject to the terms of this Agreement, each Party (“Receiving Party”) undertakes: 

  

	 	(a)	to maintain as secret and confidential all Know-how and other technical or commercial information obtained directly or indirectly from the other Party (“Disclosing Party”)
in the course of or in anticipation of this Agreement and to respect the Disclosing Party’s rights therein, 

  

	 	(b)	to use the same exclusively for the purposes of this Agreement, and 

  

	 	(c)	to disclose the same only to those of its employees, contractors and licensees or sublicensees pursuant to this Agreement (if any) to whom and to the extent that such disclosure is
reasonably necessary for the purposes of this Agreement. 

  

 5 

 CONFIDENTIAL TREATMENT REQUESTED 
  

	3.5	Exceptions to obligations. The provisions of Clause 3.4 shall not apply to Know-how and other information which the Receiving Party can demonstrate by reasonable, written
evidence: 

  

	 	(a)	was, prior to its receipt by the Receiving Party from the Disclosing Party, in the possession of the Receiving Party and at its free disposal; or 

  

	 	(b)	is subsequently disclosed to the Receiving Party without any obligations of confidence by a third party who has not derived it directly or indirectly from the Disclosing Party; or

  

	 	(c)	is or becomes generally available to the public through no act or default of the Receiving Party or its agents, employees, Affiliates or licensees or sub-licensees; or

  

	 	(d)	the Receiving Party is required to disclose to the courts of any competent jurisdiction, or to any government regulatory agency or financial authority, provided that the Receiving
Party shall (i) inform the Disclosing Party as soon as is reasonably practicable, and (ii) at the Disclosing Party’s request seek to persuade the court, agency or authority to have the information treated in a confidential manner,
where this is possible under the court, agency or authority’s procedures; or 

  

	 	(e)	in the case of information disclosed by The School of Pharmacy to Somantis, is disclosed to actual or potential customers for Royalty-bearing Products in so far as such disclosure
is reasonably necessary to promote the sale or use of Royalty-bearing Products, provided that the customers sign a written confidentiality undertaking at least as restrictive as Clauses 3.4 and 3.5. 

  

	3.6	Disclosure to employees. The Receiving Party shall procure that all of its employees, contractors and licensees or sub-licensees pursuant to this Agreement (if any) who have
access to any of the Disclosing Party’s information to which Clause 3.4 applies, shall be made aware of and subject to these obligations and shall have entered into written undertakings of confidentiality at least as restrictive as Clauses 3.4
and 3.5 and which apply to the Disclosing Party’s information. 

  

	3.7	 Right to Publish Notwithstanding the provisions of Clause 3.4, The School of Pharmacy shall have the right to use, publish and present the Patents and
Know-how for academic and research purposes (irrespective of applications). The School of Pharmacy will use reasonable endeavours to submit material intended for publication which relates to the Patents or the Know-how to Somantis in writing not
less than thirty (30) days in advance of the submission for publication. Somantis may request that submission for publication be delayed if Somantis reasonably believes that the intended publication would materially damage its commercial
interests (such as, without limitation, the protection of confidential information or the filing of patent applications). A delay imposed on submission for publication as a result of a request made by Somantis shall not exceed sixty (60) days
from the date of receipt of the material by Somantis. Notification of the request for delay in submission for publication must be received by The School of Pharmacy within fourteen (14) days after the receipt of the material by Somantis,
failing which The School of Pharmacy shall be free to assume that Somantis has no objection to 

  

 6 

 CONFIDENTIAL TREATMENT REQUESTED 
  

	 	 
the proposed publication. Nothing in this Agreement shall prevent any registered student of The School of Pharmacy from submitting for a degree of The School
of Pharmacy or the University of London a thesis based on or related to the Patents or the Know-how, the examination of such a thesis by examiners appointed by The School of Pharmacy or the University of London, or the deposit of such a thesis in a
library of The School of Pharmacy or the University of London in accordance with the relevant procedures of The School of Pharmacy or the University of London. 

  

	4.	Payments 

  

	4.1	Option consideration. Within 30 days of the Option Exercise Date, Somantis shall pay The School of Pharmacy the non-refundable, non-deductible sum of [CONFIDENTIAL
TREATMENT REQUESTED]. 

  

	4.2	Somantis shall pay The School of Pharmacy [CONFIDENTIAL TREATMENT REQUESTED] on the successful completion of animal studies, demonstrating efficacy for the drug under
development. 

  

	4.3	Somantis shall as and when requested by The School of Pharmacy pay The School of Pharmacy an amount equal to those costs incurred by The School of Pharmacy in applying for and
prosecuting the Patents, including entering the national/regional phase of the prosecution of the Patents together with all other costs incurred in the prosecution of the Patents and the legal fees incurred by The School of Pharmacy in negotiating
this Agreement. 

  

	4.4	Somantis shall pay The School of Pharmacy [CONFIDENTIAL TREATMENT REQUESTED] on the first successful completion of Phase I clinical trials of any of the Royalty-bearing
Products (defined as completion of the Phase I study. 

  

	4.5	Somantis shall pay The School of Pharmacy [CONFIDENTIAL TREATMENT REQUESTED] on the first successful completion of Phase II clinical trials of any of the Royalty-bearing
Products (defined as completion of the Phase II study). 

  

	4.6	Somantis shall pay The School of Pharmacy [CONFIDENTIAL TREATMENT REQUESTED] on the first successful completion of Phase III trials (defined as the completion of the Phase
III study) of any of the Royalty-bearing Products. 

  

	4.7	Within 60 days of the date of this Agreement, Somantis shall issue to The School of Pharmacy in consideration for the grant of the option in Clause 2.1 such number of fully paid-up
ordinary shares in Somantis as represents [CONFIDENTIAL TREATMENT REQUESTED] of the authorised share capital of Somantis at the date of such issue. At the date of this Agreement, the authorised share capital of Somantis is 100 million
shares each of 0.1p par value and therefore The School of Pharmacy shall be issued with [CONFIDENTIAL TREATMENT REQUESTED]. 

  

 7 

 CONFIDENTIAL TREATMENT REQUESTED 
  

	4.8	All sums due under this Agreement:- 

  

	 	(a)	are exclusive of Value Added Tax which where applicable will be paid by Somantis to The School of Pharmacy in addition; 

  

	 	(b)	shall be paid in pounds sterling by cheque or direct credit transfer made payable to The School of Pharmacy , University of London; 

  

	 	(c)	shall be made without deduction of income tax or other taxes charges or duties that may be imposed, except insofar as Somantis is required to deduct the same to comply with
applicable laws. The Parties shall cooperate and take all steps reasonably and lawfully available to them, at the expense of The School of Pharmacy, to avoid deducting such taxes and to obtain double taxation relief. If Somantis is required to make
any such deduction it shall provide The School of Pharmacy with such certificates or other documents as it can reasonably obtain to enable The School of Pharmacy to obtain appropriate relief from double taxation of the payment in question; and

  

	 	(d)	shall be made by the due date, failing which The School of Pharmacy may charge interest on any outstanding amount on a daily basis at a rate equivalent to [CONFIDENTIAL TREATMENT
REQUESTED] above the National Westminster Bank plc base lending rate then in force. 

  

	4.9	If at any time during the continuation of this Agreement Somantis is prohibited from making any of the payments required hereunder by a governmental authority in any country then
Somantis will within the prescribed period for making the said payments in the appropriate manner use its best endeavours to secure from the proper authority in the relevant country permission to make the said payments and will make them within 7
days of receiving such permission. If such permission is not received within 30 (thirty) days of Somantis making a request for such permission then, at the option of The School of Pharmacy, Somantis shall deposit the payments due in the currency of
the relevant country either in a bank account designated by The School of Pharmacy within such country or such payments shall be made to an associated company of The School of Pharmacy designated by The School of Pharmacy and having offices in the
relevant country designated by The School of Pharmacy. 

  

	4.10	Records 

  

	4.10.1	Somantis shall keep at its normal place of business detailed and up to date records and accounts showing the stage of development of Royalty-bearing Products and the quantity,
description and value of Royalty-bearing Products sold by it, and the amount of sublicensing revenues received by it in respect of Royalty-bearing Products, on a country by country basis, and being sufficient to ascertain any payments due under this
Agreement. 

  

 8 

 CONFIDENTIAL TREATMENT REQUESTED 
  

	4.10.2	Somantis shall make such records and accounts available, on reasonable notice, for inspection during business hours by an independent chartered accountant nominated by The School of
Pharmacy for the purpose of verifying the accuracy of any statement or report given by Somantis to The School of Pharmacy under this Agreement. The accountant shall be required to keep confidential all information learnt during any such inspection,
and to disclose to The School of Pharmacy only such details as may be necessary to report on the accuracy of Somantis’ statement or report. The School of Pharmacy shall be responsible for the accountant’s charges if Somantis’
statement or report was reasonably accurate. If the accountant’s report shows that Somantis’ statement or report was not reasonably accurate, Somantis shall pay to The School of Pharmacy a sum equal to the accountant’s charges.

  

	4.10.3	Somantis shall ensure that The School of Pharmacy has the same rights as those set out in this Clause 4.10 in respect of any licensee or licence or sublicencee of Somantis that is
licensed or sub-licensed under the Patents and/or Know-how pursuant to this Agreement. 

  

	5.	Commercialisation 

  

	5.1	Somantis shall use all reasonable endeavours to develop and commercially exploit Royalty-bearing Products in accordance with the development timetable set out in Schedule 4.

  

	5.2	Without prejudice to the generality of Somantis’ obligations under Clause 5.1, Somantis shall provide at least annually to The School of Pharmacy an updated, written
development plan, showing all past, current and projected activities taken or to be taken by Somantis to bring Royalty-bearing Products to market and sell Royalty-bearing Products worldwide. 

  

	5.3	If Somantis does not achieve a development target within the deadline set out in Schedule 4 in relation to the development of Royalty-bearing Products, Somantis shall notify The
School of Pharmacy within 30 days giving reasonable details why such target was not achieved. 

  

	5.4	If Somantis does not achieve a development target within six months after the deadline set out in Schedule 4, The School of Pharmacy may terminate this Agreement with immediate
effect on notice to Somantis. 

  

	6.	Intellectual property 

  

	6.1	Obtain and maintain the Patents. Until the Option Exercise Date, The School of Pharmacy shall at his own cost and expense: 

  

	 	(a)	endeavour to obtain and maintain valid patents in the name of The School of Pharmacy pursuant to each of the patent applications listed in Schedule 1 so as to secure the broadest
monopoly reasonably available; and 

  

 9 

 CONFIDENTIAL TREATMENT REQUESTED 
  

	 	(b)	pay all renewal fees in respect of the Patents as and when due. 

  

	6.2	On and after the Option Exercise Date, Somantis shall: 

  

	 	(a)	at its own cost and expense endeavour to maintain valid patents in the name of Somantis pursuant to each of the patent applications listed in Schedule 1 so as to secure the broadest
monopoly reasonably available; and 

  

	 	(b)	pay all renewal fees in respect of the Patents as and when due; 

 provided that if Somantis wishes to abandon any such application or not to maintain any such Patent (or to cease funding such application or Patent) it shall give 6 months’ prior written notice to The School of Pharmacy and on the
expiry of such notice period Somantis shall assign back to The School of Pharmacy without charge the patent application or patent identified in the notice. 
  

	6.3	Infringement of the Patents 

  

	6.3.1	Each Party shall inform the other Party promptly if it becomes aware of any infringement or potential infringement of any of the Patents in the Field, and the Parties shall consult
with each other to decide the best way to respond to such infringement. 

  

	6.3.2	If the Parties fail to agree on a joint programme of action, including how the costs of any such action are to be borne and how any damages or other sums received from such action
are to be distributed, then any time after the Option Exercise Date Somantis shall be entitled to take action against the third party at its sole expense and it shall be entitled to all damages or other sums received from such action, after
reimbursing The School of Pharmacy for any reasonable expenses incurred in assisting it in such action and any damages or sums received from such action which relate to the period before the Option Exercise Date. The School of Pharmacy shall agree
to be joined in any suit to enforce such rights subject to being indemnified and secured in a reasonable manner as to any costs, damages, expenses or other liability and shall have the right to be separately represented by its own counsel at its own
expense. 

  

	6.4	Infringement of third party rights 

  

	6.4.1	If any warning letter or other notice of infringement is received by a Party, or legal suit or other action is brought against a Party, alleging infringement of third party rights
in the manufacture, use or sale of any Assigned Product or use of any Patents, that Party shall promptly provide full details to the other Party, and the Parties shall discuss the best way to respond. 

  

	6.4.2	Somantis shall have the right but not the obligation to defend such suit to the extent that it relates to the Field, and shall have the right to settle with such third party,
provided that if any action or proposed settlement involves the making of any statement, express or implied, concerning the validity of any Patent, the consent of The School of Pharmacy must be obtained before taking such action or making such
settlement. 

  

 10 

 CONFIDENTIAL TREATMENT REQUESTED 
  

	7.	Warranties and liability 

  

	7.1	Warranties by Owner. The School of Pharmacy warrants, represents and undertakes as follows: 

  

	 	(a)	subject to Clause 7.3, it is entitled to assign the Patents and license the Know-how to Somantis as provided for in this Agreement. 

	 	(b)	it has not done, and will not do nor agree to do during the continuation of this Agreement, any of the following things in the Field, if to do so would be inconsistent with the
exercise by Somantis of the rights granted to it under this Agreement, namely: 

  

	 	(i)	grant or agree to grant any right, title or interest in the Patents or the Know-how or any improvements thereto; or 

  

	 	(ii)	assign, mortgage, charge or otherwise transfer any of the Patents or Know-how or (subject to Clause 9.3 below) any of its rights or obligations under this Agreement.

  

	7.2	Warranties by Somantis. Somantis warrants, represents and undertakes as follows: 

  

	 	(a)	that Somantis shall not assign, transfer, mortgage, charge or otherwise encumber any of the Patents; and 

  

	 	(b)	Somantis shall not license the Patents to any party except on terms which include obligations to commercialise the Patents at least as great as in this Agreement and shall provide a
copy of any such licence agreement to The School of Pharmacy within 30 days of the grant of the licence. 

  

	7.3	No other warranties 

  

	7.3.1	Each of Somantis and The School of Pharmacy acknowledges that, in entering into this Agreement, it does not do so in reliance on any representation, warranty or other provision
except as expressly provided in this Agreement, and any conditions, warranties or other terms implied by statute or common law are excluded from this Agreement to the fullest extent permitted by law. 

  

	7.3.2	Without limiting the scope of Clause 7.3.1, The School of Pharmacy does not give any warranty, representation or undertaking:- 

  

	 	(a)	as to the efficacy or usefulness of the Patents or Know-how; or 

  

	 	(b)	that any of the Patents is or will be valid or subsisting or (in the case of an application) will proceed to grant; or 

  

 11 

 CONFIDENTIAL TREATMENT REQUESTED 
  

	 	(c)	that the use of any of the Patents or Know-how, the manufacture, sale or use of the Royalty-bearing Products or the exercise of any of the rights granted under this Agreement will
not infringe any other intellectual property or other rights of any other person; or 

  

	 	(d)	that the Know-how or any other information communicated by The School of Pharmacy to Somantis under or in connection with this Agreement will produce Royalty-bearing Products of
satisfactory quality or fit for the purpose for which Somantis intended; or 

  

	 	(e)	as imposing any obligation on The School of Pharmacy to bring or prosecute actions or proceedings against third parties for infringement or to defend any action or proceedings for
revocation of any of the Patents; or 

  

	 	(f)	as imposing any liability on The School of Pharmacy in the event that any third party supplies Royalty-bearing Products to customers located in the Territory.

  

	7.4	Indemnity. Somantis shall indemnify The School of Pharmacy against any loss, damages, costs or expenses which are awarded against or incurred by The School of Pharmacy as a
result of any claim or threatened claim concerning the use by Somantis or any of its licensees or sublicensees of the Patents or Know-how or otherwise in connection with the manufacture, use or sale of or any other dealing in any of the
Royalty-bearing Products by Somantis or its Affiliates, any of its licensees or sublicensees. 

  

	7.5	Liability. Notwithstanding any other provision of this Agreement, no Party shall be liable to any other Party to this Agreement in contract, tort, negligence, breach of
statutory duty or otherwise for any loss, damage, costs or expenses of any nature whatsoever incurred or suffered by that other party or its Affiliates of an indirect or consequential nature including without limitation any economic loss or other
loss of turnover, profits, business or goodwill. 

  

	7.6	Notwithstanding any other provision of this Agreement, The School of Pharmacy’s total liability to Somantis in contract, tort (including negligence), misrepresentation (other
than fraudulent misrepresentation) or otherwise arising out of or in connection with this Agreement shall be limited to the sums paid by Somantis to The School of Pharmacy in total as at the date of the claim. 

  

	8.	Duration and Termination 

  

	8.1	Commencement, Option and Conditions 

  

	8.1.1	 This Agreement shall come into effect on the date of this Agreement. The assignment and licence in Clause 2.2, shall come into effect on such date on or before
31 October 2004 (if any) as Somantis shall notify to The School of Pharmacy in accordance with this 

  

 12 

 CONFIDENTIAL TREATMENT REQUESTED 
  

	 	 
Clause 8.1 (the “Option Exercise Date”). Such notification may be given at any time on or before 31 October 2004, but may only be given if:

  

	 	(a)	Somantis shall have agreed to receive sufficient funds by way of proceeds from a subscription for shares in Somantis and/or as part of a collaborative agreement, to conduct its
business; 

  

	 	(b)	The School of Pharmacy and Somantis shall have entered into the Research Collaboration Agreement. 

  

	8.1.2	During the period between the date of this Agreement and the earlier of (a) the Option Exercise Date and (b) 31 October 2004, The School of Pharmacy shall not enter
into any agreement or discussions with any other person in relation to the assignment or licensing of any or all of the Patents and the Know-how. 

  

	8.1.3	If Somantis fails to give a notification to The School of Pharmacy in accordance with Clause 8.1.1, this Agreement shall terminate on 1 November 2004, the provisions of Clauses
3.4 to 3.6 (in respect of information disclosed prior to termination) and 4 (in respect of payments becoming due prior to termination) shall continue in force, the provisions of Clauses 8.4.2(f) and (g) shall apply and for the avoidance of
doubt any payments made by Somantis to The School of Pharmacy under this Agreement on or prior to 31 October 2004 shall not be refundable. 

  

	8.2	Termination by expiry. Unless terminated earlier in accordance with this Clause 8, this Agreement and the licence or sub-licences granted hereunder shall continue in force
until the date on which all the Patents have expired or been revoked without a right of further appeal, and on such date this Agreement and the licences granted hereunder shall terminate automatically by expiry. 

  

	8.3	Early termination 

  

	8.3.1	Somantis may terminate this Agreement at any time on 90 days notice in writing to The School of Pharmacy. 

  

	8.3.2	Without prejudice to any other right or remedy, either Party may terminate this Agreement at any time by notice in writing to the other Party (“Other Party”), such notice
to take effect as specified in the notice:- 

  

	 	(a)	if the Other Party is in breach of this Agreement and, in the case of a breach capable of remedy within 90 days, the breach is not remedied within 90 days of the Other Party
receiving notice specifying the breach and requiring its remedy; or 

  

	 	(b)	 if the Other Party becomes insolvent, or if an order is made or a resolution is passed for the winding up of the Other Party (other than voluntarily for the purpose
of solvent amalgamation or reconstruction), or if an administrator, administrative receiver or receiver is appointed in respect of the whole or any part of the Other Party’s assets or business, or if the Other Party makes any 

  

 13 

 CONFIDENTIAL TREATMENT REQUESTED 
  

	 	 
composition with its creditors or takes or suffers any similar or analogous action in consequence of debt. 

  

	8.3.3	The School of Pharmacy may forthwith terminate this Agreement by giving written notice to Somantis if Somantis or its Affiliate or licensee or sub-licensee commences legal
proceedings, or assists any third party to commence legal proceedings, to challenge the validity of any of the Patents. 

  

	8.3.4	The School of Pharmacy may terminate the Agreement forthwith if any of the payments due and payable or issue of shares due under Clause 4 of the Agreement are not made within 60
days of Somantis receiving from The School of Pharmacy notice of default in making such a payment, such notice to refer to this Clause 8.3.4 and to The School of Pharmacy’s intention to terminate this Agreement if the payment is not made; and
in the event of such termination Somantis shall assign all Patents to The School of Pharmacy in accordance with Clause 8.4.2(c). 

  

	8.3.5	Either party may on giving to the other Party of not less than 10 days’ written notice prior to 1st November 2004 terminate the Agreement if the Parties agree (such
agreement to be entirely at each Party’s discretion) that: 

  

	 	(a)	Royalty-bearing Products are unlikely to arise from pursuance of the Agreement; or 

  

	 	(b)	it is unlikely that such Royalty-bearing Products will enter Clinical Trials prescribed for under Clause 4 above; or 

  

	 	(c)	for any other reason the objects of this Agreement cannot be commercially achieved; 

 in which event the Parties shall have no further obligations to one another under this Agreement other than their continuing obligations under Clauses 3.4 to 3.6 in respect of information disclosed prior to the date
of termination. 
  

	8.4	Consequences of termination 

  

	8.4.1	Upon termination of this Agreement by expiry under Clause 8.2 above, Somantis shall have the non-exclusive right to use the Know-how without charge or other obligation to The School
of Pharmacy. 

  

	8.4.2	Upon termination of this Agreement after the Option Exercise Date for any reason otherwise than in accordance with Clause 8.2: 

  

	 	(a)	Somantis and its licensee sub-licensees shall be entitled to sell, use or otherwise dispose of any unsold or unused stocks of the Royalty-bearing Products; 

 

 14 

 CONFIDENTIAL TREATMENT REQUESTED 
  

	 	(b)	subject to paragraph (a) above, Somantis shall no longer be entitled as assignee or licensee to use or otherwise exploit in any way, either directly or indirectly, the Patents,
in so far and for as long as any of the Patents remains in force, or the Know-how, and any licence or sub-licences granted by Somantis shall automatically terminate; 

  

	 	(c)	Somantis shall free of charge assign the Patents to The School of Pharmacy free from any encumbrances; 

  

	 	(d)	the provisions of Clauses 3.4 to 3.6 (in respect of information disclosed prior to termination), 4 (in respect of payments becoming due prior to termination), 7.4, 7.5, 7.6, 8.4 and
9 shall continue in force; 

  

	 	(e)	subject as provided in this Clause 8.4, and except in respect of any accrued rights, neither party shall be under any further obligation to the other; 

  

	 	(f)	Somantis and The School of Pharmacy shall promptly return to the other all written Confidential Information and any other written material containing or reflecting any information
included in the Confidential Information (whether provided by the other party, its representatives or advisors or otherwise) and will not retain any copies, extracts or other reproductions in whole or in part of such written material; and

  

	 	(g)	all documents, memorandum, notes and other writings whatsoever prepared by Somantis and The School of Pharmacy or their representatives or advisors based on the information included
in the Confidential Information shall be destroyed. 

  

	8.4.3	Upon termination of this Agreement for any reason and at The School of Pharmacy’s request, the Parties shall negotiate in good faith the terms of an agreement between them on
reasonable commercial terms under which Somantis would: 

  

	 	(a)	transfer to The School of Pharmacy exclusively all clinical and other data relating to the development of Royalty-bearing Products; 

  

	 	(b)	to the extent possible, seek to have any product licences, pricing approvals and other permits and applications transferred into the name of The School of Pharmacy or its nominee;

  

	 	(c)	grant The School of Pharmacy an exclusive, worldwide licence, with the rights to grant licence or sub-licences, under any improvements and other intellectual property owned or
controlled by Somantis relating to the Royalty-bearing Products; and 

  

	 	(d)	grant The School of Pharmacy or its nominee the right to continue to use any product name that had been applied to the Royalty-bearing Products prior to termination of this
Agreement. 

  

 15 

 CONFIDENTIAL TREATMENT REQUESTED 
  

	8.4.4	If the Parties are unable to agree the terms of an agreement as described in Clause 8.4.3 within 90 days of The School of Pharmacy requesting the negotiation of such an agreement,
The School of Pharmacy may refer the terms for settlement by an independent expert who shall be appointed in accordance with the provisions of Schedule 2 and whose decision shall be final and binding on the Parties. The Parties shall promptly
execute an agreement on the terms agreed between them or settled by the expert. 

  

	9.	General 

  

	9.1	Force majeure. Neither Party shall have any liability or be deemed to be in breach of this Agreement for any delays or failures in performance of this Agreement which result
from circumstances beyond the reasonable control of that Party, including without limitation labour disputes involving that Party. The Party affected by such circumstances shall promptly notify the other Party in writing when such circumstances
cause a delay or failure in performance and when they cease to do so. 

  

	9.2	Amendment. This Agreement may only be amended in writing signed by duly authorised representatives of The School of Pharmacy and Somantis. 

  

	9.3	Assignment and third party rights. 

  

	9.3.1	Except as provided in Clause 9.3.2, neither Party may assign or transfer any or all of its rights and obligations hereunder. 

  

	9.3.2	Either Party may assign all its rights and obligations under this Agreement together with its rights in the Patents and the Know-how to any company to which it transfers all or
substantially all of its assets or business and in the case of The School of Pharmacy, to any of its Affiliates, PROVIDED that the assignee undertakes to the other Party to be bound by and perform the obligations of the assignor under this
Agreement. 

  

	9.4	Waiver. No failure or delay on the part of either Party to exercise any right or remedy under this Agreement shall be construed or operate as a waiver thereof, nor shall any
single or partial exercise of any right or remedy preclude the further exercise of such right or remedy. 

  

	9.5	Invalid clauses. If any provision or part of this Agreement is held to be invalid, amendments to this Agreement may be made by the addition or deletion of wording as
appropriate to remove the invalid part or provision but other wise retain the provision and the other provisions of this Agreement to the maximum extent permissible under applicable law. 

  

	9.6	No Agency. Neither Party shall act or describe itself as the agent of the other, nor shall it make or represent that it has authority to make any commitments on the
other’s behalf. 

  

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 CONFIDENTIAL TREATMENT REQUESTED 
  

	9.7	Interpretation. In this Agreement: 

  

	 	(a)	the headings are used for convenience only and shall not affect its interpretation; 

  

	 	(b)	references to persons shall include incorporated and unincorporated persons; references to the singular include the plural and vice versa; and references to the masculine include
the feminine; 

  

	 	(c)	references to Clauses and Schedules mean clauses of, and schedules to, this Agreement; and 

  

	 	(d)	references to the grant of “exclusive” rights shall mean that the person granting the rights shall neither grant the same rights (in the same Field and Territory) to any
other person, nor exercise those rights directly to the extent that and for as long as the Royalty-bearing Products are within Valid Claims of unexpired Patents. 

  

	9.8	Notices 

  

	9.8.1	Any notice to be given under this Agreement shall be in writing and shall be sent by first class mail or air mail, or by fax (confirmed by first class mail or air mail) to the
address of the relevant Party set out at the head of this Agreement, or to the relevant fax number set out below, or such other address or fax number as that Party may from time to time notify to the other Party in accordance with this Clause 9.8.
The fax numbers of the Parties are as follows: The School of Pharmacy—0207 753 5968; Somantis – 0207 299 9482 . 

  

	9.8.2	Notices sent as above shall be deemed to have been received three working days after the day of posting (in the case of inland first class mail), or seven working days after the
date of posting (in the case of air mail), or on the next working day after transmission (in the case of fax messages, but only if a transmission report is generated by the sender’s fax machine recording a message from the recipient’s fax
machine, confirming that the fax was sent to the number indicated above and confirming that all pages were successfully transmitted). 

  

	9.9	Law and Jurisdiction. The validity, construction and performance of this Agreement shall be governed by English law and shall be subject to the exclusive jurisdiction of the
English courts to which the parties hereby submit, except that a Party may seek an interim injunction in any court of competent jurisdiction. 

  

	9.10	Further action. Each Party agrees to execute, acknowledge and deliver such further instruments, and do all further similar acts, as may be necessary or appropriate to carry
out the purposes and intent of this Agreement. 

  

 17 

 CONFIDENTIAL TREATMENT REQUESTED 
  

	9.11	Somantis hereby appoints The School of Pharmacy as its attorney to effect on its behalf any assignment of the Patents provided for in this Agreement and to do all and any acts and
things necessary to effect unconditionally such assignment. 

  

	9.12	Announcements. Neither Party shall make any press or other public announcement concerning any aspect of this Agreement, or make any use of the name of the other Party in
connection with or in consequence of this Agreement, without the prior written consent of the other Party. 

  

	9.13	Entire agreement. This Agreement, including its Schedules, sets out the entire agreement between the Parties relating to its subject matter and supersedes all prior oral or
written agreements, arrangements or understandings between them relating to such subject matter. The Parties acknowledge that they are not relying on any representation, agreement, term or condition which is not set out in this Agreement.

 AGREED by the parties through their authorised signatories:- 
  

					
	 For and on behalf of
 THE SCHOOL OF
PHARMACY
	 		 	 For and on behalf of
 SOMANTIS
LIMITED

			
	 /s/ Julian C. Axe
	 		 	 /s/ Agamemnon A. Epenetos

	 signed
	 		 	 signed

			
	 Julian C. Axe
	 		 	 Agamemnon A. Epenetos

	 print name
	 		 	 print name

			
	 Clerk to Council
	 		 	 CEO

	 title
	 		 	 title

			
	 16/3/2004
	 		 	 16/3/2004

	 date
	 		 	 date

  

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 CONFIDENTIAL TREATMENT REQUESTED 
  

 Schedule 1 
 The Patents 
 [CONFIDENTIAL TREATMENT REQUESTED] 
  

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 CONFIDENTIAL TREATMENT REQUESTED 
  

 Schedule 2 
 Appointment of expert 
 1. Pursuant to Clause 8.4.4, The School of Pharmacy may serve notice on Somantis
(“Referral Notice”) that it wishes to refer to an expert (the “Expert”) the questions set out in Clause 8.4.4. 
 2. The parties shall
agree the identity of a single independent, impartial expert to determine such questions. In the absence of such agreement within 30 days of the Referral Notice, the questions shall be referred to an expert appointed by the President of Law Society
of England and Wales. 
 3. 60 days after the giving of a Referral Notice, both parties shall exchange simultaneously statements of case in no more than
10,000 words, in total, and each side shall simultaneously send a copy of its statement of case to the Expert. 
 4. Each party may, within 30 days of the
date of exchange of statement of case pursuant to paragraph 3 above, serve a reply to the other side’s statement of case of not more than 10,000 words. A copy of any such reply shall be simultaneously sent to the Expert. 
 5. The Expert shall make his decision on the said questions on the basis of written statements and supporting documentation only and there shall be no oral hearing. The
Expert shall issue his decision in writing within 30 days of the date of service of the last reply pursuant to paragraph 4 above or, in the absence of receipt of any replies, within 60 days of the date of exchange pursuant to paragraph 3 above.

 6. The Expert’s decision shall be final and binding on the parties. 
 7. The Expert’s charges shall be borne equally by the parties. 
  

 20 

 CONFIDENTIAL TREATMENT REQUESTED 
  

 Schedule 3 
 THIS DEED OF ASSIGNMENT dated
                                        
2004 is made by and between:- 
  

	 	(1)	[        ] whose address is
                    ; and 

  

	 	(2)	SOMANTIS LIMITED (“Somantis”) whose registered office is at 117 Alexander Park Road, London N10 2DP 

 WHEREAS: 
  

	A.	... has made application(s) for Patent(s) (defined below as the “Patents” in relation to certain inventions and generated related know-how in the field of prevention
and treatment of cancer through the use of specific classes of drugs (together with the “Technology”). 

  

	B.	.... is willing to assign its right title and interest in the Patents to Somantis subject to the provisions of the Agreement. 

 THIS DEED OF ASSIGNMENT WITNESSES as follows:- 
  

	1.	Definitions 

 In this Assignment,
“Patents” shall mean the patent(s) and patent application(s) identified in the attached Schedule. 
 2. Assignment 
  

	2.1	In consideration of the sum of £1 sterling paid to (receipt of which they each hereby acknowledge), hereby assign and transfer to Somantis absolutely all their right, title
and interest in the Patents. 

  

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 CONFIDENTIAL TREATMENT REQUESTED 
  

	2.2	The assignments effected by this Clause 2 shall include, without limitation, the assignment and transfer of: 

  

	 	a.	all patents and other patents that may be granted pursuant to any applications listed in the attached Schedule, as well as all patents and other Patents that may derive priority
from or have equivalent claims to the applications listed in the Schedule or be based upon the Technology in any country of the world (and including supplementary protection certificates, divisions, continuations, continuations in part, reissues and
extensions), and the Patents shall be deemed to include all such items of property; 

  

	 	b.	and all rights of action, powers and benefits arising from ownership of the Patents, including without limitation the right to sue for damages and other legal and equitable remedies
in respect of all causes of action arising prior to, on or after the date of this assignment. 

  

	2.3	.......shall execute such documents and give such assistance as Somantis may require, at the Somantis’ expense: 

  

	 	a.	to secure the vesting in Somantis of all rights in the Patents; 

  

	 	b.	to uphold Somantis’ rights in the Patents: and 

  

	 	c.	to defeat any challenge to the validity of, and resolve any questions concerning, the Patents 

  

	 	d.	All reasonable costs and expenses of is undertaking any of its obligations under this clause shall be paid for and reimbursed in full by Somantis. 

  

	3.0	Law and Jurisdiction 

 The validity, construction and
performance of this Assignment shall be governed by English law, and Somantis submit to the exclusive jurisdiction of the English courts in respect of any dispute arising in connection therewith. 
 EXECUTED AS A DEED by the parties: 
  

					
	Executed and delivered as a Deed by of two members of its Council	 		 	by (applying its common seal in the presence
			
		 		 	                                      
           signature of Council member

  

 22 

 CONFIDENTIAL TREATMENT REQUESTED 
  

                                       
           signature of Council member 
 Executed and delivered as a
Deed by Somantis Limited: 
  

			
		
	__________________________	 	Director’s signature
		
	__________________________	 	 date

 SCHEDULE 
 Description
of general subject area covered by this assignment: 
 The present invention concerns a novel family of anthraquinone alkylating agents, their
use in the treatment of cancers, methods of manufacture of medicaments for same, and methods of treatment of cancers. 
 Description of specific patents
and patent applications: 
  

			
	Patent details:	  	 International Patent Classification •
  
 International Filing •
  
 Priority Date: [CONFIDENTIAL TREATMENT
REQUESTED]
  
 Applicant: The School of
Pharmacy , London
  
 Title: [CONFIDENTIAL
TREATMENT REQUESTED]
  
 Application Number: [CONFIDENTIAL TREATMENT
REQUESTED]

  

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 CONFIDENTIAL TREATMENT REQUESTED 
  

 Schedule 4 
 Development Timetable 
  

			
	 Development Target
 [CONFIDENTIAL TREATMENT REQUESTED]
	  	 Deadline
 [CONFIDENTIAL TREATMENT REQUESTED]

		  	
		  	
		  	
		  	
		  	

  

 24

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