Document:

Exhibit
10.60

 

MASTER STUDY AGREEMENT

 

This Master Study Agreement (“Agreement”) is made as of this 4th
day of December, 2000 (the “Effective Date”), by and between Biomedical
Research Models, Inc. (BRM) a Massachusetts Corporation having a place of
business at 10 New Bond Street, Worcester, MA 01606 and Advanced Cell
Technology, Inc. a Delaware corporation, having principal offices at One
Innovation Drive, Worcester, MA (hereinafter Advanced Cell Technology)
(Advanced Cell Technology and BRM sometimes collectively referred to herein as
the “parties”).

 

WHEREAS, BRM has certain research expertise in the
area of developing and producing proprietary inbred and congenie rodent models
of human disease, and provides contract research services related thereto; and

 

WHEREAS, Advanced Cell Technology is conducting certain research, and
is the owner of proprietary technologies, in the area of nuclear transfer,
cloning of non-human mammals and human therapeutic cloning, and

 

WHEREAS, Advanced Cell Technology desires to engage BRM to provide
certain research services; and

 

WHEREAS, BRM desires to provide such services for Advanced Cell
Technology in accordance with the terms and conditions of the Agreement and “Individual
Study Agreements”;

 

NOW THEREFORE, in consideration of the premises and the mutual
covenants contained herein, the parties hereto agree as follows:

 

1.            Protocols and
Individual Study Agreements (ISA)

 

In
the event Advanced Cell Technology desires BRM to perform research services,
the parties shall negotiate and finalize “Individual Study Agreements” (each an
“ISA”). Each ISA will include a
budget, scientific protocol and/or a scope of work (including a detailed
description of the research to be performed), a timeline in which the research
will be completed, and fees for the search and payment terms thereof. No
research work will begin or be considered in progress until a signed ISA is
approved by the authorized business official for the respective organizations. The authorized official for BRM is
Dennis L. Guberski. The authorized official for Advanced Cell Technology is
Jose Cibelli, Ph.D., Vice President of Research.

 

2.            Modifications in
Protocols and Authorized Officials

 

If following the execution
of an ISA a significant change or supplement to the protocol, or scope of work
is warranted, such change shall be made by a written notification or change
order (each a “Change Order”) mutually agreed upon and signed by the parties
prior to the implementation of the change. If the approved change results in
additional costs an estimate 

 

 

will be prepared by BRM for
approval by Advanced Cell Technology. This approval is a commitment of
additional funds to the project.

 

3.             Performance

 

BRM
shall conduct the studies, perform research and prepare reports as required by
this Agreement and any applicable ISA (including the protocols and/or scope of
work included therewith and any Change Orders thereto). BRM will utilize due
care in accordance with the ISA and general prevailing industry standards. BRM
shall adhere to schedules and any approved amendments to schedules that are
included with or incorporated into each ISA.

 

4.             Study
Monitoring and Authorized Representative

 

An
authorized representative may be appointed by BRM and Advanced Cell Technology
to facilitate communications between the respective businesses. The authorized
representative for BRM is Edward H, Kislauskis, Ph.D, Vice President. The
authorized representative for Advanced Cell Technology is Jose Cibelli, Ph.D.,
Vice President of Research for Advanced Cell Technology. These authorized
representatives through their staffs will oversee the day to day operation of
the research programs and will serve as the contact points to resolve
differences and/or to clarify protocols.

 

5.             OLAW and
IACUC

 

Advanced
Cell Technology acknowledges that BRM maintains a federally and state licensed
facility. Further, Advanced Cell Technology agrees that protocols must be in
compliance with the NIH Office for the Laboratory and Animal Welfare as
administered through BRM’s local Institutional Animal Care and Use Committee
(IACUC). BRM agrees to provide Advanced Cell Technology with such information
regarding BRM’s compliance therewith as is reasonably requested by Advanced
Cell Technology.

 

6.             Periodic
Meetings; Reports; Data

 

During
the term of this Agreement and any ISA, the authorized representatives of the
parties, and if necessary their staff(s), shall meet as required by the ISA to
discuss the progress of the research then being performed by BRM. BRM shall
advise Advanced Cell Technology of the results of such research and, at monthly
intervals or in accordance with the terms of the ISA, provide Advanced Cell
Technology with written progress reports concerning the research. Unless
otherwise stated in the protocol or ISA, a progress/final report setting forth
the results achieved under and pursuant to the research shall be submitted by
BRM to Advanced Cell Technology within sixty (60) days after the termination of
the subject research project. Such final research report shall include a
complete summary of the research carried out and detailed experimental
protocols of the research performed in the course of the research. BRM shall,
throughout the term of this Agreement and any ISA, and upon delivery of any
final research report, provide to Advanced Cell Technology all data and other
information generated or prepared during any research or study performed under
the terms of this Agreement or any ISA and any Change Order thereto, including
without limitation, all raw data obtained as a result of 

 

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studies
conducted in the course of the research and changes in the experimental
procedures as described in the ISA.

 

7.             Materials

 

The parties acknowledge and
agree that in connection with performing research under an ISA, Advanced Cell
Technology may deliver to BRM certain materials, including without limitation,
slides, tissues, cells or other specimens (collectively, “Materials”), to be
used by BRM in connection with performing the subject research. All materials
must be accompanied by a written disclosure that shall detail hazardous
qualities of the Materials and otherwise be in compliance with NIOSH and OSHA
regulations. Advanced Cell Technology shall deliver such Materials at its sole
cost and expense. BRM acknowledges and agrees that all title and intellectual
property rights in the Materials are and shall be owned by Advanced Cell
Technology. Unless Advanced Cell Technology shall otherwise give prior written
consent, BRM shall not use the Materials for any purposes other than to conduct
the research as described in the applicable ISA. Any other uses of the
Materials by BRM shall be strictly prohibited. In no event, may BRM provide any
such Materials to any other persons or entities without Advanced Cell
Technology’s prior written consent. BRM shall not use or acquire for use any
third party materials, directly or indirectly, in any research that is the
subject of an ISA if the use of such materials would provide such third party
with any rights in any inventions or other intellectual property.

 

8.             Information

 

BRM
acknowledges that during the term of this Agreement and any ISA, it may receive
from Advanced Cell Technology certain information which may include technical
information and data, notebooks, products, inventions, product design
information, trade secrets, patents and patent applications, processes, and
unpublished research results, business plans, financial information, schedules,
test marketing data, marketing plans, computer programs and listings, and other
plans, data and information, including without limitation, information relating
to proprietary technologies enabling the genetic manipulation of cells to
produce cloned transgenic animals for applications in cell transplant therapy,
organ transplantation and pharmaceutical protein production, all of which will
be proprietary and confidential information (hereinafter referred to as “Confidential
Information”) of Advanced Cell Technology. BRM acknowledges and agrees that all
title and intellectual property rights in such Confidential Information are and
shall be owned by Advanced Cell Technology, and BRM agrees to maintain the
confidentiality of such Confidential Information in accordance with the terms
of this Agreement and any ISA.

 

9.            Confidentiality
and Publications

 

Except as otherwise stated
BRM, its employees, agents and consultants shall, during the course of any
negotiation, and during the term of this Agreement or any ISA and thereafter,
maintain in strict confidence all Confidential Information and all Research
Results and any other information, data and work produced, generated or
prepared by BRM during the course of an ISA, except that BRM may disclose or
permit the disclosure of any Confidential Information to 

 

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its directors, officers,
employees, consultants, and advisors who are obligated to maintain the
confidential nature of such Confidential Information and who need to know such
Confidential Information for the performance of the subject research. BRM
further agrees that it shall (i) implement reasonable procedures to prohibit
the disclosure, unauthorized duplication, misuse or removal of the Confidential
Information; (ii) use all Confidential Information solely for the performance
of the subject research; and (iii) allow its directors, officers, employees,
consultants, and advisors to reproduce the Confidential Information only to the
extent necessary for the performance of such Research, with all such reproductions
being considered Confidential Information. Without limiting the foregoing, BRM
shall protect the Confidential Information using at least the same procedures
and degree of care that it uses to prevent the disclosure of its own
confidential information of like importance, but in no event less than
reasonable care.

 

Upon
the expiration or termination of this Agreement, or at the request of Advanced
Cell Technology at any time, BRM shall return to Advanced Cell Technology all
originals, copies, and summaries of documents, materials, and other tangible
manifestations of Confidential Information in the possession or control of BRM,
except that BRM may retain one copy of the Confidential Information for its
business records.

 

BRM
acknowledges and agrees that any breach of the confidentiality obligations
imposed herein may constitute immediate and irreparable harm to Advanced Cell
Technology and/or its successors and assigns, which cannot adequately and fully
be compensated by money damages and may warrant, in addition to all other
rights and remedies afforded by law, injunctive relief, specific performance
and/or other equitable relief. Advanced Cell Technology’s rights and remedies
hereunder are cumulative and not exclusive. Advanced Cell Technology may also be
entitled to receive from BRM the costs of enforcing this paragraph, including
reasonable attorneys’ fees.

 

BRM
will not be responsible for any Confidential Information which: (a) at the time
of disclosure by Advanced Cell Technology was already known to BRM; (b) at the
time of disclosure is generally available to the public or hereinafter becomes
generally available or known to the public through no act or fault on the part
of BRM; (c) was received by BRM from a third party not having obligations of confidentiality
to Advanced Celt Technology as evidenced by BRM’s written records; or (d) BRM
is required by law, regulation or other act of authority to disclose such
information. In the event that BRM is required by judicial or administrative
process to disclose Confidential Information, BRM shall (i) use its best
efforts, at the expense of Advanced Cell Technology, to secure confidential
treatment of the Confidential Information to be disclosed, and (ii) promptly
notify Advanced Cell Technology so that Advanced Cell Technology may, if
permitted by law, oppose such process.

 

BRM
agrees that it shall not publish the results of any research or study performed
under this Agreement or any ISA without the prior written permission of
Advanced Cell Technology.

 

10.          Ownership of Research
Results and Intellectual Property

 

All information and data
collected, generated or prepared during any research or study carried out under
the terms of this Agreement or any ISA and any Change Orders thereto, and all

 

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pertinent discoveries,
inventions, improvements, new uses, processes, substances or developments
arising out of such research or study (such information, data, discoveries,
inventions, improvements, new uses, processes, substances or developments
collectively referred to herein as the “Research Results”) are and shall be the
sole property of Advanced Cell Technology. BRM hereby agrees to assign, and
hereby does assign, all such rights, title and interest in the Research Results
to Advanced Cell Technology. BRM shall promptly disclose to Advanced Cell
Technology, in writing and under terms of the confidentiality obligations set
forth in Section 9 of this Agreement, the Research Results. BRM agrees to fully
cooperate with Advanced Cell Technology, at the expense of Advanced Cell
Technology, in the protection and enforcement of any intellectual property
rights that may derive as a result of the Research Results. Such cooperation
shall include executing, acknowledging, and delivering to Advanced Cell
Technology all documents or papers that may be necessary to enable Advanced
Cell Technology to publish or protect said Research Results and any
intellectual property associated therewith. Specialized procedures
related/developed for, or used to validate aspects of any BRM animal model
system(s), remain(s) the property of BRM Inc. BRM grants Advanced Cell
Technology the right to use these technologies for their own internal research
purposes.

 

11.         Obligations

 

BRM
shall perform all work in a professional, diligent, safe and careful manner in
accordance with the law, the protocols, this Agreement, and any applicable ISA.
BRM shall accurately report the resulting data in a manner as detailed in
Section 6 of this Agreement. Advanced Cell Technology personnel working at BRM
shall work in a diligent, safe and careful manner in accordance with the law.
Further, Advanced Cell Technology personnel shall comply with the specific
instructions from BRM supervisory staff (to be identified for each individual
study) regarding compliance with barrier protocols and other study specific
standard operating procedures, which barrier protocols and standard operating
procedures shall be set forth in the applicable ISA or a schedule thereto.

 

12.         Representations
and Warranties

 

Each
party warrants and represents to the other that it has the legal rights and
power to enter into this Agreement and the ISAs and Change Orders thereto, that
the execution of, and performance of the efforts contemplated by, this Agreement
and the ISAs and Change Orders thereto will not conflict with or result in any
breach of any of the terms, conditions, or provisions of, or constitute a
default under, any agreement to which it is a party or by which it is bound,
and that any necessary or appropriate consents or approvals have been obtained.
Each party further represents to the other that it is not aware of any legal
obstacles, including patent rights of others, which could prevent either party
from carrying out the provisions of this Agreement. During the term of this
Agreement and any ISA, BRM and Advanced Cell Technology shall not knowingly
enter into any collaboration or other agreement arrangement, take any action,
or fail to take any action that would cause those representations and
warranties to be breached.

 

5

 

BRM
makes no representations or warranties, express or implied, concerning the
merchantability, or fitness for a particular purpose, of the Research Results.

 

The
Materials furnished to BRM by Advanced Cell Technology under his Agreement and
any ISA are provided for experimental purposes and may have hazardous
properties. Advanced Cell Technology warrants that the Materials furnished to
BRM by Advanced Cell Technology under this Agreement will, at the time of
delivery of the Materials to BRM, comply with all NIOSH and OSHA regulations
that apply to such Materials. EXCEPT FOR THE FOREGOING LIMITED WARRANTY,
ADVANCED CELL TECHNOLOGY MAKES NO OTHER REPRESENTATIONS, AND EXTENDS NO OTHER
WARRANTIES OF ANY KIND, EITHER EXPRESS, IMPLIED, OR OF NONINFRINGEMENT WITH
RESPECT TO ANY SUCH MATERIALS.

 

Advanced Cell Technology and
BRM each represents to the other that it is duly incorporated or organized and
validly existing as a corporation, in good standing under the laws of its
jurisdiction.

 

13.          Indemnification
and Limitation of Liability

 

Advanced
Cell Technology agrees, upon receipt of prompt notice and opportunity to
defend, to indemnify and hold BRM harmless, and hereby forever releases and
discharges BRM from and against any and all third party claims, demands,
liabilities, damages, and expenses (including attorney’s fees) arising out of
or relating to (i) a breach by Advanced Cell Technology of any of its
obligations, representations or warranties hereunder, (ii) Advanced Cell
Technology’s development and subsequent sale of the technology developed under
this Agreement, (iii) the use, storage, or disposal of the Materials by
Advanced Cell Technology, except to the extent caused by the recklessness or
willful misconduct of BRM, or (iv) the infringement of third party intellectual
property rights caused by BRM’s use of the Materials in accordance with the
terms of this Agreement.

 

BRM agrees, upon receipt of prompt notice and
opportunity to defend, to indemnify and hold Advanced Cell Technology harmless,
and hereby forever releases and discharges Advanced Cell Technology from and
against any and all third party claims, demands, liabilities, damages, and
expenses (including attorney’s fees) arising out of or relating to (i) a breach
by BRM of any of its obligations, representations or warranties hereunder, (ii)
the negligence of BRM in connection with the research or other work performed
by BRM during the term of this Agreement and any ISA, or (iii) the use,
storage, or disposal of the Materials by BRM, except to the extent caused by
the recklessness or willful misconduct of Advanced Cell Technology.

 

Each party shall give the other party prompt
notice of any claim for which indemnification under this Section 13 is or may
be applicable and will cooperate with the indemnifying party in the defense or
settlement of such claim at the indemnifying party’s expense. The indemnifying
party shall be required to provide and be entitled to control the defense of
any claim covered hereunder (including the right to settle it at the sole
discretion of the indemnifying party) with counsel reasonably satisfactory to
the other party which may, at its own expense, participate in the defense of
any claim after the indemnifying party assumes control of the defense thereof.
The indemnification obligations in this Section 13 shall not apply to amounts
paid in settlement 

 

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of such claim if such settlement is effected
without the consent of the indemnifying party, which consent shall not be
unreasonably withheld or delayed. The failure of the indemnified party to
deliver notice to the indemnifying party promptly after the commencement of any
such action, if prejudicial to the indemnifying party’s ability to defend such
action, shall relieve the indemnifying party of any liability to the
indemnified party under this Section 13, but the failure to promptly deliver
notice to the indemnifying party will not relieve it of any liability that it
may have to the indemnified party other than under this Section 13.

 

EXCEPT
FOR ANY LIABILITY UNDER SECTIONS 9 (CONFIDENTIALITY) AND 13 (INDEMNIFICATION),
IN NO EVENT SHALL EITHER PARTY (OR ITS SHAREHOLDERS, DIRECTORS, OFFICERS,
EMPLOYEES, OR AGENTS) BE LIABLE FOR ANY SPECIAL, INDIRECT, RELIANCE,
INCIDENTAL, EXEMPLARY, PUNITIVE, COVER, OR CONSEQUENTIAL DAMAGES, INCLUDING
LOSS OF PROFITS AND GOODWILL, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE
POSSIBILITY OF SUCH DAMAGES, REGARDLESS OF THE THEORY OF LIABILITY.

 

14.          Term and Termination

 

The
term of this Master Study Agreement shall commence with the date of the last
party’s signature and will continue thereafter for a period of three (3) years
unless otherwise agreed to by the parties in writing. Either party may
terminate this Agreement by providing at least 90 days written notice to the
other party, provided however that the terms of this Agreement shall continue
to apply to any research or study initiated pursuant to an ISA executed prior
to the termination date of this Agreement.

 

Advanced
Cell Technology has the right to curtail or terminate a study at any time by
giving a 30 day written notice to BRM. The written notice shall set forth the
termination procedures as they apply to the disposition of the animals, study
samples and data collection. Advanced Cell Technology will be responsible for
charges incurred during this phased shutdown of the study or protocol.

 

The
obligations and provisions in paragraphs 7-13 shall survive the termination or
expiration of this Agreement. Termination of this Agreement shall not relieve
either party from any obligation to the other in respect of appropriate
reporting of any data obtained prior to termination and reasonable compensation
for services performed prior to termination.

 

15.          Compensation

 

Costs
and payment schedules for research or other services performed under this
Agreement and any ISAs shall be mutually agreed upon by the parties and set
forth in the applicable ISA. Advanced Cell Technology agrees to pay additional
costs including collection fees and interest if payment receipt is withheld;
provided, however, that Advanced Cell Technology shall not be obligated to pay
such additional costs for any unpaid amounts contested by Advanced Cell Technology.
Billings shall be made against the applicable ISA and not this Agreement.

 

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16.          Compliance with the
Law

 

In
the performance of this Agreement Advanced Cell Technology and BRM agree that
each will comply fully with all applicable federal, state, and local law,
ordinances, rules and regulations.

 

17.          Independent
Contractor

 

Nothing
contained in this Agreement shall be construed to constitute BRM as a partner,
employee or agent of Advanced Cell Technology. BRM shall have no authority to
bind or act on behalf of Advanced Cell Technology. Nothing contained in this
Agreement shall be construed to constitute Advanced Cell Technology as a
partner, employee or agent of BRM. Advanced Cell Technology shall have no
authority to bind or act on behalf of BRM.

 

18.          Force
Majeure

 

A
party shall be excused from performing its obligations under this Agreement
only to the extent that its performance is delayed or prevented by acts of God,
fire, explosion, war, riots, strikes, law or other cause (except financial)
that is unforeseeable and beyond a party’s control. A time of performance that
falls under a period of excused performance shall be deferred for a period
equal to the period of excused performance.

 

19.          Insurance

 

Advanced Cell Technology and
BRM shall each secure and maintain in full force and effect throughout the
performance of any research or study carried out under this Agreement or any
ISA insurance that is reasonably adequate to fulfill any potential liability to
each other hereunder. Each party shall provide the other, upon request, with
written evidence of such insurance.

 

20.          Assignment

 

This
Agreement shall not be assigned by either party without the written consent of
the other party, except that either party may assign this Agreement and any ISA
to an affiliate, or to a successor in connection with the merger,
consolidation, or sale of all or substantially all of its assets or that
portion of its business to which this Agreement relates.

 

21.          Amendment
and Waiver

 

This Agreement may be
amended or modified only by written agreement signed by Advanced Cell
Technology and BRM. No waiver of any term, provision or condition of this
Agreement, whether by conduct or otherwise in any one or more instances, shall
be deemed to be or construed as a further or continuing waiver of any such
term, provision or condition or of any other term, provision or condition of
this Agreement.

 

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22.          Notice

 

All notices to be given as
required in this Agreement shall be in writing and shall be delivered
personally, sent by facsimile and followed by a telephone conversation with or
voice mail message for the party indicated below or sent by overnight carrier
or in the United States mail certified, return receipt requested to the parties
at the address set forth below:

 

	
  Dennis L. Guberski

  	
  Michael D. West, Ph.D.

  
	
  President, BRM, Inc.

  	
  President & CEO,
  Advanced Cell Technology, Inc.

  
	
  10 New Bond Street

  	
  One Innovation Drive

  
	
  Worcester, MA 01606

  	
  Worcester, MA 01605

  

 

23.          Choice of Law

 

This Agreement and the
rights and obligations of the parties hereunder shall be construed and enforced
in accordance with the laws of the Commonwealth of Massachusetts without giving
effect to its choice of law principles.

 

24.          Severability

 

If any one or more of the
provisions of this Agreement shall be held to be invalid, illegal, or
unenforceable, the validity, legality, or enforceability of the remaining
provisions of this Agreement shall not in any way be affected or impaired
thereby.

 

IN WITNESS WHEREOF, the
parties have caused this Agreement to be executed in duplicate by their duly
authorized representatives, effective as of the date first written above.

 

	
  BIOMEDICAL RESEARCH
  MODELS, INC.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
  /s/ Dennis L. Guberski

  	
   

  	
   

  
	
   

  	
  Dennis L. Guberski

  	
   

  	
   

  
	
   

  	
  President

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Date: 

  	
  12/4/2000

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  ADVANCED CELL TECHNOLOGY,
  INC.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
  /s/ Michael D. West

  	
   

  	
   

  
	
   

  	
  Michael D. West, Ph.D.

  	
   

  	
   

  
	
   

  	
  President & Chief Executive Officer

  	
   

  	
   

  
	
   

  	
   

  
	
  Date: 

  	
  12-7-00

  	
   

  	
   

  
						

 

9Exhibit 10.61

 

AGREEMENT RELATING TO THE TRANSFER

OF BIOLOGICAL MATERIALS

 

WAKE FOREST UNIVERSITY SCHOOL OF MEDICINE, Medical Center Boulevard, Winston-Salem,
North Carolina 27157 U.S.A. (hereinafter “WFU”) and ADVANCED
CELL TECHNOLOGY, One Innovation Drive, Worcester, Massachusetts
01520 (hereinafter “COMPANY”), agree as follows:

 

1.                                       WFU will provide samples of primate skin
cells and ovary materials (hereinafter “Biological Materials”) produced by WFU
under the direction of Drs. Kent Vrana and Kathleen Grant, Department of
Physiology and Pharmacology, to COMPANY for research purposes.  WFU will ship the Biological Materials to
COMPANY as directed by COMPANY at COMPANY’s expense.

 

2.                                       COMPANY acknowledges and agrees that WFU
shall retain all rights, title and interest in and to such Biological Materials
and to research results derived from using such Biological Materials.  The Biological Materials will not be used in
research that is subject to consulting or licensing obligations to another
entity.

 

3.                                       COMPANY shall promptly disclose to WFU the
conception or reduction to practice of any commercially useful discovery,
invention, data, modification, substance or development that results from any
research using the Biological Materials (“Research Results”). WFU hereby grants
to COMPANY a first option to obtain an exclusive, worldwide, royalty-bearing
license to any intellectual property rights claimed by WFU in such Research
Results (the “License Option”). COMPANY may exercise the License Option upon
written notice to WFU within ninety (90) days after the disclosure of the
particular Research Result to WFU. In the event COMPANY exercises the License
Option, COMPANY and WFU shall attempt to negotiate in good faith a license
agreement containing commercially reasonable terms and pricing consistent with
relevant industry standards. If the parties are unable to reach agreement
within ninety (90) days after the date upon which COMPANY exercised the License
Option (the “Negotiation Period”), then WFU will be free to offer such rights
to third parties; provided, however, that for a period of one (1) year after
the Negotiation Period, WFU may only offer such rights to third parties on
terms and pricing which in the aggregate arc no more favorable than those last
offered to COMPANY, unless the more favorable terms and pricing have first been
offered in writing to COMPANY and either (i) COMPANY has declined in writing to
accept such terms and pricing or (ii) COMPANY has not responded after a period
of thirty (30) days from the date of such offer. WFU will then be free to offer
a license to any third party at any terms with no further obligation to
COMPANY.

 

4.                                       COMPANY further agrees that such Biological
Materials will be used only for research within COMPANY’s laboratories and will
not be given or sold to any other person or entity without WFU’s prior written
consent.

 

 

5.                                       COMPANY shall have the right to publish the
results of any research using the Biological Materials subject to the following
conditions: COMPANY agrees that it will provide WFU with a copy of any proposed
publication or presentation relating to the research conducted under this
agreement, thirty (30) days prior to submission for publication or presentation
in order to ascertain whether public disclosure will adversely affect the
patent rights, or other proprietary rights of WFU. In the event of objection by
WFU for sufficient cause, COMPANY further agrees to delay publication or
presentation for no longer than an additional ninety (90) days to protect such
interests. WFU agrees to take prompt action reasonably necessary to allow
public disclosure without jeopardizing patent rights or its proprietary rights.

 

COMPANY
shall properly acknowledge WFU in all publications or presentations resulting from
the performance of this research.  All
copyrightable work first produced or composed by COMPANY in the performance of
this agreement shall vest with COMPANY.

 

6.                                       The
Biological Materials are experimental in nature, are provided solely for the
aforementioned studies and are provided by WFU and accepted by COMPANY with the
understanding that no warranties, express or implied, are given concerning the
Biological Materials and that WFU will be held harmless from any claims or
liability which might result from the use of the Biological Materials.

 

	
  WAKE FOREST UNIVERSITY 

  	
  ADVANCED CELL TECHNOLOGY

  
	
  SCHOOL OF
  MEDICINE

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Lawrence D. Smith

  	
   

  	
  /s/ Jose Cibelli

  	
   

  
	
  NAME:

  	
  Lawrence D. Smith

  	
  NAME:

  	
  Jose Cibelli,
  Ph.D., D.V.M. 

  
	
  TITLE:

  	
  Associate Dean, Research

  	
  TITLE:

  	
  Vice President, Research

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
  JAN 28 2000

  	
   

  	
  02/03/00

  	
   

  
	
  Date

  	
  Date

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