Document:

Filed by Automated Filing Services Inc. (604) 609-0244 -  Upstream Biosciences Inc. - Exhibit 10.12

UPSTREAM BIOSCIENCES INC. 
2007 STOCK OPTION PLAN

     This 2007 Stock Option Plan (the
"Plan") provides for the grant of options to acquire common shares (the "Common
Shares") in the capital of Upstream Biosciences Inc., a corporation formed under
the laws of the State of Nevada (the "Corporation"). Stock options granted under
this Plan that qualify under Section 422 of the Internal Revenue Code of 1986,
as amended (the "Code") are referred to in this Plan as "Incentive Stock
Options" and stock options that do not qualify under Section 422 of the Code are
referred to as "Non-Qualified Stock Options". Incentive Stock Options and
Non-Qualified Stock Options granted under this Plan are collectively referred to
as "Options".

1. PURPOSE

1.1 The purpose of this Plan is to retain the services of
valued key employees and consultants of the Corporation and such other persons
as the Plan Administrator shall select in accordance with Section 2 below, and
to encourage such persons to acquire a greater proprietary interest in the
Corporation, thereby strengthening their incentive to achieve the objectives of
the shareholders of the Corporation, and to serve as an aid and inducement in
the hiring of new employees and to provide an equity incentive to consultants
and other persons selected by the Plan Administrator.

1.2 This Plan shall at all times be subject to all legal
requirements relating to the administration of stock option plans, if any, under
applicable corporate laws, applicable United States federal and state securities
laws, the Code, the rules of any applicable stock exchange or stock quotation
system, and the rules of any foreign jurisdiction applicable to Options granted
to residents therein (collectively, the "Applicable Laws").

2. ADMINISTRATION

2.1 This Plan shall be administered initially by the Board of
Directors of the Corporation (the "Board"), except that the Board may, in its
discretion, establish a committee composed of two (2) or more members of the
Board or two (2) or more other persons to administer the Plan, which committee
(the "Committee") may be an executive, compensation or other committee,
including a separate committee especially created for this purpose. The Board
or, if applicable, the Committee is referred to herein as the "Plan
Administrator".

2.2 If and so long as the Common Shares are registered under
Section 12(b) or 12(g) of the Securities Exchange Act of 1934, as amended
(the "Exchange Act") and the Corporation wishes to grant Incentive Stock
Options, then the Board shall consider in selecting the Plan Administrator and
the membership of any Committee, with respect to any persons subject or likely
to become subject to Section 16 of the Exchange Act, the provisions regarding
(a) "outside directors" as contemplated by Section 162(m) of the Code, and (b)
"Non-Employee Directors" as contemplated by Rule 16b-3 under the Exchange
Act.

2.3 The Committee shall have the powers and authority vested in
the Board hereunder (including the power and authority to interpret any
provision of the Plan or of any Option). The members of any such Committee shall
serve at the pleasure of the Board. A majority of the 

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members of the Committee shall constitute a quorum, and all
actions of the Committee shall be taken by a majority of the members present.
Any action may be taken by a written instrument signed by all of the members of
the Committee and any action so taken shall be fully effective as if it had been
taken at a meeting.

2.4 Subject to the provisions of this Plan and any Applicable
Laws, and with a view to effecting the purpose of the Plan, the Plan
Administrator shall have sole authority, in its absolute discretion, to:

(a) construe and interpret this Plan;

(b) define the terms used in the Plan;

(c) prescribe, amend and rescind the rules and regulations
relating to this Plan; (d) correct any defect, supply any omission or reconcile
any inconsistency in this Plan; (e) grant Options under this Plan;

(f) determine the individuals to whom Options shall be granted
under this Plan and whether the Option is granted as an Incentive Stock Option
or a Non-Qualified Stock Option;

(g) determine the time or times at which Options shall be
granted under this Plan;

(h) determine the number of Common Shares subject to each
Option, the exercise price of each Option, the duration of each Option and the
times at which each Option shall become exercisable;

(i) determine all other terms and conditions of the Options;
and

(j) make all other determinations and interpretations necessary
and advisable for the administration of the Plan.

2.5 All decisions, determinations and interpretations made by
the Plan Administrator shall be binding and conclusive on all participants in
the Plan and on their legal representatives, heirs and beneficiaries.

3. ELIGIBILITY

3.1 Incentive Stock Options may be granted to any individual
who, at the time the Option is granted, is an employee of the Corporation or any
Related Corporation (as defined below) ("Employees").

3.2 Non-Qualified Stock Options may be granted to Employees and
to such other persons who are not Employees as the Plan Administrator shall
select, subject to any Applicable Laws.

3.3 Options may be granted in substitution for outstanding
Options of another corporation in connection with the merger, consolidation,
acquisition of property or stock or other 

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reorganization between such other corporation and the
Corporation or any subsidiary of the Corporation. Options also may be granted in
exchange for outstanding Options.

3.4 Any person to whom an Option is granted under this Plan is
referred to as an "Optionee". Any person who is the owner of an Option is
referred to as a "Holder".

3.5 As used in this Plan, the term "Related Corporation" shall
mean any corporation (other than the Corporation) that is a "Parent Corporation"
of the Corporation or "Subsidiary Corporation" of the Corporation, as those
terms are defined in Sections 424(e) and 424(f), respectively, of the Code (or
any successor provisions) and the regulations thereunder (as amended from time
to time).

4. STOCK

4.1 The Plan Administrator is authorized to grant Options to
acquire up to a total of 5,000,000 Common Shares. The number of Common Shares
with respect to which Options may be granted hereunder is subject to adjustment
as set forth in Section 5.1(m) hereof. In the event that any outstanding Option
expires or is terminated for any reason, the Common Shares allocable to the
unexercised portion of such Option may again be subject to an Option granted to
the same Optionee or to a different person eligible under Section 3 of this
Plan; provided however, that any cancelled Options will be counted against the
maximum number of shares with respect to which Options may be granted to any
particular person as set forth in Section 5.1(a) hereof.

5. TERMS AND CONDITIONS OF OPTIONS

5.1 Each Option granted under this Plan shall be evidenced by a
written agreement approved by the Plan Administrator (each, an "Agreement").
Agreements may contain such provisions, not inconsistent with this Plan or any
Applicable Laws, as the Plan Administrator in its discretion may deem advisable.
All Options also shall comply with the following requirements:

(a) Number of Shares and Type of Option

Each Agreement shall state the number of Common Shares to which
it pertains and whether the Option is intended to be an Incentive Stock Option
or a Non-Qualified Stock Option; provided that:

(i) the number of Common Shares that
may be reserved pursuant to the exercise of Options granted to any person shall
not exceed 10% of the issued and outstanding Common Shares of the
Corporation;

(ii) in the absence of action to the
contrary by the Plan Administrator in connection with the grant of an Option,
all Options shall be Non-Qualified Stock Options;

(iii) the aggregate fair market value
(determined at the Date of Grant, as defined below) of the Common Shares with
respect to which Incentive Stock Options are exercisable for the first time by
the Optionee during any calendar year (granted under this Plan and all other
Incentive Stock Option plans of the Corporation, a Related Corporation 

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or a predecessor corporation) shall not
exceed U.S.$100,000, or such other limit as may be prescribed by the Code as it
may be amended from time to time (the "Annual Limit"); and

(iv) any portion of an Option which
exceeds the Annual Limit shall not be void but rather shall be a Non-Qualified
Stock Option.

(b) Date of Grant

Each Agreement shall state the date the Plan Administrator has
deemed to be the effective date of the Option for purposes of this Plan (the
"Date of Grant").

(c) Option Price

Each Agreement shall state the price per Common Share at which
it is exercisable. The Plan Administrator shall act in good faith to establish
the exercise price in accordance with Applicable Laws; provided that:

(i) the per share exercise price for an
Incentive Stock Option or any Option granted to a "covered employee" as such
term is defined for purposes of Section 162(m) of the Code shall not be less
than the fair market value per Common Share at the Date of Grant as determined
by the Plan Administrator in good faith; 

(ii) with respect to Incentive Stock
Options granted to greater-than-ten percent (>10%) shareholders of the
Corporation (as determined with reference to Section 424(d) of the Code), the
exercise price per share shall not be less than one hundred ten percent (110%)
of the fair market value per Common Share at the Date of Grant as determined by
the Plan Administrator in good faith; and

(iii) Options granted in substitution
for outstanding options of another corporation in connection with the merger,
consolidation, acquisition of property or stock or other reorganization
involving such other corporation and the Corporation or any subsidiary of the
Corporation may be granted with an exercise price equal to the exercise price
for the substituted option of the other corporation, subject to any adjustment
consistent with the terms of the transaction pursuant to which the substitution
is to occur, and provided that for Incentive Stock Options:

A. the excess of the aggregate fair
market value of the shares subject to the option immediately after the
substitution over the aggregate exercise price of such shares is not more than
the excess of the aggregate fair market value of all shares subject to the
option immediately before such substitution over the aggregate exercise price of
such shares, and

B. the substituted option does not
give the employee additional benefits which he did not have under the previously
held Option; and

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(iv) with respect to Non-Qualified
Stock Options, the exercise price per share shall be the fair market value of
the Common Shares as determined by the Plan Administrator in good faith.

(d) Duration of Options

At the time of the grant of the Option, the Plan Administrator
shall designate, subject to Section 5.1(g) below, the expiration date of the
Option, which date shall not be later than ten (10) years from the Date of
Grant; provided, that the expiration date of any Incentive Stock Option
granted to a greater-than-ten percent (>10%) shareholder of the Corporation
(as determined with reference to Section 424(d) of the Code) shall not be later
than five (5) years from the Date of Grant. In the absence of action to the
contrary by the Plan Administrator in connection with the grant of a particular
Option, and except in the case of Incentive Stock Options as described above,
all Options granted under this Section 5 shall expire ten (10) years from the
Date of Grant.

(e) Vesting Schedule

No Option shall be exercisable until it has vested. The vesting
schedule for each Option shall be specified by the Plan Administrator at the
time of grant of the Option prior to the provision of services with respect to
which such Option is granted; provided, that if no vesting schedule is
specified at the time of grant, the Option shall vest according to the following
schedule:

	 	Number of Years 	 Percentage of Total 
	 	Following
      Date of Grant 	Option Vested 
	 	One 	25% 
	 	Two 	50% 
	 	Three 	75% 
	 	Four 	100% 

The Plan Administrator may specify a
vesting schedule for all or any portion of an Option based on the achievement of
performance objectives established in advance of the commencement by the
Optionee of services related to the achievement of the performance objectives.
Performance objectives shall be expressed in terms of objective criteria,
including but not limited to, one or more of the following: return on equity,
return on assets, share price, market share, sales, earnings per share, costs,
net earnings, net worth, inventories, cash and cash equivalents, gross margin or
the Corporation's performance relative to its internal business plan.
Performance objectives may be in respect of the performance of the Corporation
as a whole (whether on a consolidated or unconsolidated basis), a Related
Corporation, or a subdivision, operating unit, product or product line of either
of the foregoing. Performance objectives may be absolute or relative and may be
expressed in terms 

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of a progression or a range. An Option
that is exercisable (in full or in part) upon the achievement of one or more
performance objectives may be exercised only following written notice to the
Optionee and the Corporation by the Plan Administrator that the performance
objective has been achieved.

(f) Acceleration of Vesting

The vesting of one or more outstanding Options may be
accelerated by the Plan Administrator at such times and in such amounts as it
shall determine in its sole discretion.

(g) Term of Option

(i) Vested Options shall terminate, to
the extent not previously exercised, upon the occurrence of the first of the
following events:

A. the expiration of the Option, as designated by the Plan
Administrator in accordance with Section 5.1(d) above;

B. the date of an Optionee's
termination of employment or contractual relationship with the Corporation or
any Related Corporation for cause (as determined by the Plan Administrator,
acting reasonably);

C. the expiration of three (3) months
from the date of an Optionee's termination of employment or contractual
relationship with the Corporation or any Related Corporation for any reason
whatsoever other than cause, death or Disability (as defined below) unless, in
the case of a Non-Qualified Stock Option, the exercise period is extended by the
Plan Administrator until a date not later than the expiration date of the
Option; or

D. the expiration of one year (1) from
termination of an Optionee's employment or contractual relationship by reason of
death or Disability (as defined below) unless, in the case of a Non-Qualified
Stock Option, the exercise period is extended by the Plan Administrator until a
date not later than the expiration date of the Option.

(ii) Notwithstanding Section 5.1(g)(i)
above, any vested Options which have been granted to the Optionee in the
Optionee's capacity as a director of the Corporation or any Related Corporation
shall terminate upon the occurrence of the first of the following events:

A. the event specified in Section
5.1(g)(i)A above;

B. the event specified in Section
5.1(g)(i)D above; and

C. the expiration of three (3) months
from the date the Optionee ceases to serve as a director of the Corporation or
Related Corporation, as the case may be unless, in the case of a Non-Qualified
Stock Option, the exercise period is 

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extended by the Plan Administrator
until a date not later than the expiration date of the Option.

(iii) Upon the death of an Optionee,
any vested Options held by the Optionee shall be exercisable only by the person
or persons to whom such Optionee's rights under such Option shall pass by the
Optionee's will or by the laws of descent and distribution of the Optionee's
domicile at the time of death and only until such Options terminate as provided
above.

(iv) For purposes of the Plan, unless
otherwise defined in the Agreement, "Disability" shall mean medically
determinable physical or mental impairment which has lasted or can be expected
to last for a continuous period of not less than twelve (12) months or that can
be expected to result in death. The Plan Administrator shall determine whether
an Optionee has incurred a Disability on the basis of medical evidence
acceptable to the Plan Administrator. Upon making a determination of Disability,
the Plan Administrator shall, for purposes of the Plan, determine the date of an
Optionee's termination of employment or contractual relationship.

(v) Unless accelerated in accordance
with Section 5.1(f) above, unvested Options shall terminate immediately upon
termination of employment of the Optionee by the Corporation for any reason
whatsoever, including death or Disability.

(vi) For purposes of this Plan,
transfer of employment between or among the Corporation and/or any Related
Corporation shall not be deemed to constitute a termination of employment with
the Corporation or any Related Corporation. Employment shall be deemed to
continue while the Optionee is on military leave, sick leave or other bona
fide leave of absence (as determined by the Plan Administrator). The
foregoing notwithstanding, employment shall not be deemed to continue beyond the
first ninety (90) days of such leave, unless the Optionee's re-employment rights
are guaranteed by statute or by contract.

(h) Exercise of Options

(i) Options shall be exercisable, in
full or in part, at any time after vesting, until termination. If less than all
of the Common Shares included in the vested portion of any Option are purchased,
the remainder may be purchased at any subsequent time prior to the expiration of
the Option term. Only whole Common Shares may be issued pursuant to an Option,
and to the extent that an Option covers less than one (1) share, it is
unexercisable.

(ii) Options or portions thereof may be
exercised by giving written notice to the Corporation, which notice shall
specify the number of Common Shares to be purchased, and be accompanied by
payment in the amount of the aggregate exercise price for the Common Shares so
purchased, which payment shall be in the form specified in Section 5.1(i) below.
The Corporation shall not be obligated to issue, transfer or deliver a
certificate representing Common Shares to the Holder of any Option, until
provision has been made by the Holder, to the satisfaction of the Corporation,
for the payment of the 

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aggregate exercise price for all Common
Shares for which the Option shall have been exercised and for satisfaction of
any tax withholding obligations associated with such exercise. During the
lifetime of an Optionee, Options are exercisable only by the Optionee.

(i) Payment upon Exercise of Option

Upon the exercise of any Option, the aggregate exercise price
shall be paid to the Corporation in cash or by certified or cashier's check. In
addition, if pre-approved in writing by the Plan Administrator who may
arbitrarily withhold consent, the Holder may pay for all or any portion of the
aggregate exercise price by complying with one or more of the following
alternatives:

(i) by delivering a properly executed
exercise notice together with irrevocable instructions to a broker promptly to
sell or margin a sufficient portion of the Common Shares and deliver directly to
the Corporation the amount of sale or margin loan proceeds to pay the exercise
price; or

(ii) by complying with any other
payment mechanism approved by the Plan Administrator at the time of
exercise.

(j) No Rights as a Shareholder

A Holder shall have no rights as a shareholder of the
Corporation with respect to any Common Shares covered by an Option until such
Holder becomes a record holder of such Common Shares, irrespective of whether
such Holder has given notice of exercise. Subject to the provisions of Section
5.1(m) hereof, no rights shall accrue to a Holder and no adjustments shall be
made on account of dividends (ordinary or extraordinary, whether in cash,
securities or other property) or distributions or other rights declared on, or
created in, the Common Shares for which the record date is prior to the date the
Holder becomes a record holder of the Common Shares covered by the Option,
irrespective of whether such Holder has given notice of exercise.

(k) Non-transferability of Options

(i) Options granted under this Plan and
the rights and privileges conferred by this Plan may not be transferred,
assigned, pledged or hypothecated in any manner (whether by operation of law or
otherwise) other than by will or by applicable laws of descent and distribution
or, in the case of a Non-Qualified Stock Option, pursuant to a qualified
domestic relations order, and shall not be subject to execution, attachment or
similar process; provided however that, subject to applicable laws:

A. for Non-Qualified Stock Options,
any Agreement may provide or be amended to provide that a Non-Qualified Stock
Option to which it relates is transferable without payment of consideration to
immediate family members of the Optionee or to trusts or partnerships or limited
liability companies established exclusively for the benefit of the Optionee and
the Optionee's immediate family members; or

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B. for all Options, the Optionee's
heirs or administrators may exercise any portion of the outstanding Options
within one year of the Optionee's death.

(ii) Upon any attempt to transfer,
assign, pledge, hypothecate or otherwise dispose of any Option or of any right
or privilege conferred by this Plan contrary to the provisions hereof, or upon
the sale, levy or any attachment or similar process upon the rights and
privileges conferred by this Plan, such Option shall thereupon terminate and
become null and void.

(l) Securities Regulation and Tax Withholding

(i) Common Shares shall not be issued
with respect to an Option unless the exercise of such Option and the issuance
and delivery of such Common Shares shall comply with all Applicable Laws, and
such issuance shall be further subject to the approval of counsel for the
Corporation with respect to such compliance, including the availability of an
exemption from prospectus and registration requirements for the issuance and
sale of such Common Shares. The inability of the Corporation to obtain from any
regulatory body the authority deemed by the Corporation to be necessary for the
lawful issuance and sale of any Common Shares under this Plan, or the
unavailability of an exemption from prospectus and registration requirements for
the issuance and sale of any Common Shares under this Plan, shall relieve the
Corporation of any liability with respect to the non-issuance or sale of such
Common Shares.

(ii) As a condition to the exercise of
an Option, the Plan Administrator may require the Holder to represent and
warrant in writing at the time of such exercise that the Common Shares are being
purchased only for investment and without any then-present intention to sell or
distribute such Common Shares. If necessary under Applicable Laws, the Plan
Administrator may cause a stop-transfer order against such Common Shares to be
placed on the stock books and records of the Corporation, and a legend
indicating that the Common Shares may not be pledged, sold or otherwise
transferred unless an opinion of counsel is provided stating that such transfer
is not in violation of any Applicable Laws, may be stamped on the certificates
representing such Common Shares in order to assure an exemption from
registration. The Plan Administrator also may require such other documentation
as may from time to time be necessary to comply with applicable securities laws.
THE CORPORATION HAS NO OBLIGATION TO UNDERTAKE REGISTRATION OF OPTIONS OR THE
COMMON SHARES ISSUABLE UPON THE EXERCISE OF OPTIONS.

(iii) The Holder shall pay to the
Corporation by certified or cashier's check, promptly upon exercise of an Option
or, if later, the date that the amount of such obligations becomes determinable,
all applicable federal, state, local and foreign withholding taxes that the Plan
Administrator, in its discretion, determines to result upon exercise of an
Option or from a transfer or other disposition of Common Shares acquired upon
exercise of an Option or otherwise related to an Option or Common Shares
acquired in connection with an Option. Upon approval of the Plan Administrator,
a Holder may satisfy such obligation by complying with one or more of the
following alternatives selected by the Plan Administrator:

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A. by delivering to the Corporation
Common Shares previously held by such Holder or by the Corporation withholding
Common Shares otherwise deliverable pursuant to the exercise of the Option,
which Common Shares received or withheld shall have a fair market value at the
date of exercise (as determined by the Plan Administrator) equal to any
withholding tax obligations arising as a result of such exercise, transfer or
other disposition; or

B. by complying with any other payment
mechanism approved by the Plan Administrator from time to time.

(iv) The issuance, transfer or delivery
of certificates representing Common Shares pursuant to the exercise of Options
may be delayed, at the discretion of the Plan Administrator, until the Plan
Administrator is satisfied that the applicable requirements of all Applicable
Laws and the withholding provisions of the Code have been met and that the
Holder has paid or otherwise satisfied any withholding tax obligation as
described in Section 5.1(l)(iii) above.

(m) Adjustments Upon Changes In Capitalization

(i) The aggregate number and class of
shares for which Options may be granted under this Plan, the number and class of
shares covered by each outstanding Option, and the exercise price per share
thereof (but not the total price), and each such Option, shall all be
proportionately adjusted for any increase or decrease in the number of issued
Common Shares of the Corporation resulting from:

A. a subdivision or consolidation of
Common Shares or any like capital adjustment, or

B. the issuance of any Common Shares,
or securities exchangeable for or convertible into Common Shares, to the holders
of all or substantially all of the outstanding Common Shares by way of a stock
dividend (other than the issue of Common Shares, or securities exchangeable for
or convertible into Common Shares, to holders of Common Shares pursuant to their
exercise of options to receive dividends in the form of Common Shares, or
securities convertible into Common Shares, in lieu of dividends paid in the
ordinary course on the Common Shares).

(ii) Except as provided in Section
5.1(m)(iii) hereof, upon a merger (other than a merger of the Corporation in
which the holders of Common Shares immediately prior to the merger have the same
proportionate ownership of common shares in the surviving corporation
immediately after the merger), consolidation, acquisition of property or stock,
separation, reorganization (other than a mere re-incorporation or the creation
of a holding Corporation) or liquidation of the Corporation, as a result of
which the shareholders of the Corporation, receive cash, shares or other
property in exchange for or in connection with their Common Shares, any Option
granted hereunder shall terminate, but the Holder shall have the right to
exercise such Holder's Option immediately prior to any such merger,
consolidation, acquisition of property or shares, separation, 

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reorganization or liquidation, and to
be treated as a shareholder of record for the purposes thereof, to the extent
the vesting requirements set forth in the Option agreement have been
satisfied.

(iii) If the shareholders of the
Corporation receive shares in the capital of another corporation ("Exchange
Shares") in exchange for their Common Shares in any transaction involving a
merger (other than a merger of the Corporation in which the holders of Common
Shares immediately prior to the merger have the same proportionate ownership of
Common Shares in the surviving corporation immediately after the merger),
consolidation, acquisition of property or shares, separation or reorganization
(other than a mere re-incorporation or the creation of a holding Corporation),
all Options granted hereunder shall be converted into options to purchase
Exchange Shares unless the Corporation and the corporation issuing the Exchange
Shares, in their sole discretion, determine that any or all such Options granted
hereunder shall not be converted into options to purchase Exchange Shares but
instead shall terminate in accordance with, and subject to the Holder's right to
exercise the Holder's Options pursuant to, the provisions of Section 5.1(m)(ii)
.. The amount and price of converted options shall be determined by adjusting the
amount and price of the Options granted hereunder in the same proportion as used
for determining the number of Exchange Shares the holders of the Common Shares
receive in such merger, consolidation, acquisition or property or stock,
separation or reorganization. Unless accelerated by the Board, the vesting
schedule set forth in the option agreement shall continue to apply to the
options granted for the Exchange Shares.

(iv) In the event of any adjustment in
the number of Common Shares covered by any Option, any fractional shares
resulting from such adjustment shall be disregarded and each such Option shall
cover only the number of full shares resulting from such adjustment.

(v) All adjustments pursuant to Section
5.1(m) shall be made by the Plan Administrator, and its determination as to what
adjustments shall be made, and the extent thereof, shall be final, binding and
conclusive.

(vi) The grant of an Option shall not
affect in any way the right or power of the Corporation to make adjustments,
reclassifications, reorganizations or changes of its capital or business
structure, to merge, consolidate or dissolve, to liquidate or to sell or
transfer all or any part of its business or assets.

6. EFFECTIVE DATE; AMENDMENT; SHAREHOLDER APPROVAL

6.1 Options may be granted by the Plan Administrator from time
to time on or after the date on which this Plan is adopted by the Board (the
"Effective Date").

6.2 Unless sooner terminated by the Board, this Plan shall
terminate on the tenth anniversary of the Effective Date. No Option may be
granted after such termination or during any suspension of this Plan.

6.3 Any Incentive Stock Options granted by the Plan
Administrator prior to the ratification of this Plan by the shareholders of the
Corporation shall be granted subject to approval of this Plan 

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by the holders of a majority of the Corporation's outstanding
voting shares, voting either in person or by proxy at a duly held shareholders'
meeting within twelve (12) months before or after the Effective Date. If such
shareholder approval is sought and not obtained, all Incentive Stock Options
granted prior thereto and thereafter shall be considered Non-Qualified Stock
Options and any Options granted to Covered Employees will not be eligible for
the exclusion set forth in Section 162(m) of the Code with respect to the
deductibility by the Corporation of certain compensation.

7. NO OBLIGATIONS TO EXERCISE OPTION

7.1 The grant of an Option shall impose no obligation upon the
Optionee to exercise such Option.

8. NO RIGHT TO OPTIONS OR TO EMPLOYMENT

8.1 Whether or not any Options are to be granted under this
Plan shall be exclusively within the discretion of the Plan Administrator, and
nothing contained in this Plan shall be construed as giving any person any right
to participate under this Plan. The grant of an Option shall in no way
constitute any form of agreement or understanding binding on the Corporation or
any Related Corporation, express or implied, that the Corporation or any Related
Corporation will employ or contract with an Optionee for any length of time, nor
shall it interfere in any way with the Corporation's or, where applicable, a
Related Corporation's right to terminate Optionee's employment at any time,
which right is hereby reserved.

9. APPLICATION OF FUNDS

9.1 The proceeds received by the Corporation from the sale of
Common Shares issued upon the exercise of Options shall be used for general
corporate purposes, unless otherwise directed by the Board.

10. INDEMNIFICATION OF PLAN ADMINISTRATOR

10.1 In addition to all other rights of indemnification they
may have as members of the Board, members of the Plan Administrator shall be
indemnified by the Corporation for all reasonable expenses and liabilities of
any type or nature, including attorneys' fees, incurred in connection with any
action, suit or proceeding to which they or any of them are a party by reason
of, or in connection with, this Plan or any Option granted under this Plan, and
against all amounts paid by them in settlement thereof (provided that such
settlement is approved by independent legal counsel selected by the
Corporation), except to the extent that such expenses relate to matters for
which it is adjudged that such Plan Administrator member is liable for willful
misconduct; provided, that within fifteen (15) days after the institution of any
such action, suit or proceeding, the Plan Administrator member involved therein
shall, in writing, notify the Corporation of such action, suit or proceeding, so
that the Corporation may have the opportunity to make appropriate arrangements
to prosecute or defend the same.

11. AMENDMENT OF PLAN

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11.1 The Plan Administrator may, at any time, modify, amend or
terminate this Plan or modify or amend Options granted under this Plan,
including, without limitation, such modifications or amendments as are necessary
to maintain compliance with the Applicable Laws. The Plan Administrator may
condition the effectiveness of any such amendment on the receipt of shareholder
approval at such time and in such manner as the Plan Administrator may consider
necessary for the Corporation to comply with or to avail the Corporation and/or
the Optionees of the benefits of any securities, tax, market listing or other
administrative or regulatory requirements.

Effective Date: March 16, 2007Filed by Automated Filing Services Inc. (604) 609-0244 -  Upstream Biosciences Inc. -  Exhibit 10.13

THE SECURITIES REPRESENTED HEREBY HAVE BEEN OFFERED IN AN
OFFSHORE TRANSACTION TO A PERSON WHO IS NOT A U.S. PERSON (AS DEFINED HEREIN)
PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED (THE "1933 ACT"). 

NONE OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN
REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO
REGISTERED, MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED
STATES (AS DEFINED HEREIN) OR TO U.S. PERSONS EXCEPT IN ACCORDANCE WITH THE
PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION
FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE
1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES
LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE
CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT. "UNITED STATES" AND "U.S.
PERSON" ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT. 

STOCK OPTION AND SUBSCRIPTION AGREEMENT
For Non – U.S.
Persons

This AGREEMENT is entered into as of the 16th day of March,
2007 (the "Date of Grant").

BETWEEN:

UPSTREAM BIOSCIENCES INC., with
an office at Suite 100 – 570 
West 7th Avenue, Vancouver, British Columbia,
Canada
 (the "Company")

AND:

DEXSTER SMITH, a person with a
business address at Suite 100 – 570
 West 7th Avenue, Vancouver, British
Columbia, Canada V5Z 4S6
 (the "Optionee")

WHEREAS:

A. The Company's board of directors (the "Board") has approved
and adopted a Stock Option Plan (the "Plan"), whereby the Board is authorized to
grant stock options to purchase common shares of the Company to the directors,
officers, employees, management company employees and consultants of the
Company;

B. The Optionee provides services as a director and executive
officer of the Company (the "Services"); and

C. The Company seeks to grant stock options to purchase a total
of FOUR HUNDRED THOUSAND (400,000) shares of Common Stock to the Optionee in
consideration for the provision of the Services.

2

NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of
the covenants and agreements set forth herein and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties hereto agree as follows:

1.1 In this Agreement, the following terms shall have the
following meanings:

	 	(a) 	
      "Common Stock" means the shares of common stock of
      the Company;

	 	 	 
	 	(b) 	
      "Exercise Payment" means the amount of money equal
      to the Exercise Price multiplied by the number of Optioned Shares
      specified in the Notice of Exercise;

	 	 	 
	 	(c) 	
      "Exercise Price" means $0.96;

	 	 	 
	 	(d) 	
      "Expiry Date" means March 16, 2017;

	 	 	 
	 	(e) 	
      "Notice of Exercise" means a notice in writing
      addressed to the Company at its address first recited (or such other
      address of the Company as may from time to time be notified to the
      Optionee in writing), substantially in the form attached as Appendix "A"
      hereto, which notice shall specify therein the number of Optioned Shares
      in respect of which the Options are being exercised;

	 	 	 
	 	(f) 	
      "Options" means the irrevocable right and option
      to purchase, from time to time, all, or any part of the Optioned Shares
      granted to the Optionee by the Company pursuant to Section 1.2 of this
      Agreement;

	 	 	 
	 	(g) 	
      "Optioned Shares" means the shares of Common
      Stock, subject to the Options;

	 	 	 
	 	(h) 	
      "Securities" means, collectively, the Options and
      the Optioned Shares;

	 	 	 
	 	(i) 	
      "Shareholders" means holders of record of the
      shares of Common Stock;

	 	 	 
	 	(j) 	
      "U.S. Person" shall have the meaning ascribed
      thereto in Regulation S under the 1933 Act, and for the purpose of the
      Agreement includes any person in the United States; and

	 	 	 
	 	(k) 	
      "Vested Options" means the Options that have
      vested in accordance with Section 1.3 of this
Agreement.

1.2 The Company hereby grants to the Optionee, on the terms and
conditions set out in this Agreement and in the Plan, Options to purchase a
total of FOUR HUNDRED THOUSAND (400,000) Optioned Shares at the Exercise
Price.

1.3 The Options may be exercised after vesting and only in
accordance with the following schedule, whereby:

	 	(a) 	
      ONE HUNDRED FIFTY THOUSAND (150,000) of the Options shall
      vest immediately upon the Date of Grant,

	 	 	 
	 	(b) 	
      ONE HUNDRED FIFTY THOUSAND (150,000) of the Options shall
      vest on February 28, 2008, and

	 	 	 
	 	(c) 	
      ONE HUNDRED THOUSAND (100,000) of the Options shall vest
      on February 28, 2009.

3

1.4 The Options shall, at 5:00 p.m. (Vancouver time) on the
Expiry Date, expire and be of no further force or effect whatsoever.

1.5 Vested Options shall terminate, to the extent not
previously exercised, in accordance with Section 5(g) of the Plan. Each unvested
Option granted pursuant hereto shall terminate immediately upon termination of
or resignation from the Optionee's employment or contractual relationship with
the Company for any reason whatsoever.

1.6 Subject to the provisions of this Agreement and the Plan
and subject to compliance with any applicable securities laws, the Options shall
be exercisable, in full or in part, at any time after vesting, until
termination; provided, however, that if the Optionee is subject to the reporting
and liability provisions of Section 16 of the Securities Exchange Act of
1934 with respect to the Common Stock, the Optionee shall be precluded from
selling, transferring or otherwise disposing of any Common Stock underlying any
Options during the six (6) months immediately following the grant of that
Option. If less than all of the shares included in the vested portion of any
Options are purchased, the remainder may be purchased at any subsequent time
prior to the Expiry Date. Only whole shares may be issued pursuant to the
exercise of any Options, and to the extent that any Options covers less than one
(1) share, it is unexercisable.

Each exercise of the Options shall be by means of delivery of a
Notice of Exercise (which may be in the form attached hereto as Appendix A) to
the President of the Company at its principal executive office, specifying the
number of shares of Common Stock to be purchased and accompanied by payment in
cash by certified check or cashier's check in the amount of the full exercise
price for the Common Stock to be purchased. In addition to payment in cash by
certified check or cashier's check, an Optionee or transferee of the Options may
pay for all or any portion of the aggregate exercise price by complying with one
or more of the following alternatives:

	 	(a) 	
      by delivering a properly executed Notice of Exercise
      together with irrevocable instructions to a broker promptly to sell or
      margin a sufficient portion of the Common Stock and deliver directly to
      the Company the amount of sale or margin loan proceeds to pay the exercise
      price; or

	 	 	 
	 	(b) 	
      by complying with any other payment mechanism approved by
      the Board at the time of exercise.

It is a condition precedent to the issuance of Optioned Shares
that the Optionee execute and/or deliver to the Company all documents and
withholding taxes required in accordance with applicable laws.

1.7 Nothing in this Agreement shall obligate the Optionee to
purchase any Optioned Shares except those Optioned Shares in respect of which
the Optionee shall have exercised the Options in the manner provided in this
Agreement.

1.8 Reference is made to the Plan for particulars of the rights
and obligations of the Optionee and the Company in respect of:

	 	(a) 	
      the terms and conditions on which the Options are
      granted; and

	 	 	 
	 	(b) 	
      a consolidation or subdivision of the Company's share
      capital or an amalgamation or merger;

4

all to the same effect as if the
provisions of the Plan were set out in this Agreement and to all of which the
Optionee assents.

1.9 The terms of the Options are subject to the provisions of
the Plan, as the same may from time to time be amended, and any inconsistencies
between this Agreement and the Plan, as the same may be from time to time
amended, shall be governed by the provisions of the Plan.

2. Documents Required from Optionee

2.1 The Optionee must complete, sign and return an executed
copy of this Agreement to the Company.

2.2 The Subscriber shall complete, sign and return to the
Company as soon as possible, on request by the Company, any documents,
questionnaires, notices and undertakings as may be required by regulatory
authorities, and applicable law

3. Acknowledgements of the Optionee

3.1 The Optionee acknowledges and agrees that:

	 	(a) 	
      the Optionee is a director and executive officer of the
      Company;

	 	 	 
	 	(b) 	
      none of the Securities have been registered under the
      1933 Act or under any state securities or "blue sky" laws of any state of
      the United States, and, unless so registered, may not be offered or sold
      in the United States or, directly or indirectly, to U.S. Persons, except
      in accordance with the provisions of Regulation S, pursuant to an
      effective registration statement under the 1933 Act, or pursuant to an
      exemption from, or in a transaction not subject to, the registration
      requirements of the 1933 Act and in each case only in accordance with
      applicable state securities laws;

	 	 	 
	 	(c) 	
      the Company has not undertaken, and will have no
      obligation, to register any of the Securities under the 1933
Act;

	 	 	 
	 	(d) 	
      the Optionee has received and carefully read this
      Agreement and the public information which has been filed with the SEC in
      compliance or intended compliance with applicable securities legislation
      (collectively, the "Company Information");

	 	 	 
	 	(e) 	
      the decision to execute this Agreement and acquire the
      Securities hereunder has not been based upon any oral or written
      representation as to fact or otherwise made by or on behalf of the
      Company, and such decision is based entirely upon a review of the Company
      Information (the receipt of which is hereby acknowledged);

	 	 	 
	 	(f) 	
      no securities commission or similar regulatory authority
      has reviewed or passed on the merits of the Securities;

	 	 	 
	 	(g) 	
      there is no government or other insurance covering the
      Securities;

	 	 	 
	 	(h) 	
      there are risks associated with an investment in the
      Securities;

	 	 	 
	 	(i) 	
      the Company has advised the Optionee that the Company is
      relying on an exemption from the requirements to provide the Optionee with
      a prospectus and to sell the Securities

5

	 		
      through a person registered to sell securities under the
      Securities Act (British Columbia) (the "B.C. Act") and, as a
      consequence of acquiring the Securities pursuant to this exemption,
      certain protections, rights and remedies provided by the B.C. Act,
      including statutory rights of rescission or damages, will not be available
      to the Optionee;

	 	 	 
	 	(j) 	
      the Optionee has not acquired the Securities as a result
      of, and will not itself engage in, any "directed selling efforts" (as
      defined in Regulation S under the 1933 Act) in the United States in
      respect of the Securities which would include any activities undertaken
      for the purpose of, or that could reasonably be expected to have the
      effect of, conditioning the market in the United States for the resale of
      the Securities; provided, however, that the Optionee may sell or otherwise
      dispose of the Securities pursuant to registration thereof under the 1933
      Act and any applicable state and provincial securities laws or under an
      exemption from such registration requirements;

	 	 	 
	 	(k) 	
      the Optionee and the Optionee's advisor(s) (if
      applicable) have had a reasonable opportunity to ask questions of and
      receive answers from the Company in connection with the distribution of
      the Securities hereunder, and to obtain additional information, to the
      extent possessed or obtainable without unreasonable effort or expense,
      necessary to verify the accuracy of the information about the
    Company;

	 	 	 
	 	(l) 	
      the books and records of the Company were available upon
      reasonable notice for inspection, subject to certain confidentiality
      restrictions, by the Optionee during reasonable business hours at its
      principal place of business, and all documents, records and books in
      connection with the distribution of the Securities hereunder have been
      made available for inspection by the Optionee, the Optionee's attorney
      and/or advisor(s) (if applicable);

	 	 	 
	 	(m) 	
      the Company is entitled to rely on the representations
      and warranties and the statements and answers of the Optionee contained in
      this Agreement;

	 	 	 
	 	(n) 	
      the Optionee will indemnify and hold harmless the Company
      and, where applicable, its directors, officers, employees, agents,
      advisors and shareholders, from and against any and all loss, liability,
      claim, damage and expense whatsoever (including, but not limited to, any
      and all fees, costs and expenses whatsoever reasonably incurred in
      investigating, preparing or defending against any claim, lawsuit,
      administrative proceeding or investigation whether commenced or
      threatened) arising out of or based upon any representation or warranty of
      the Optionee contained herein or in any document furnished by the Optionee
      to the Company in connection herewith being untrue in any material respect
      or any breach or failure by the Optionee to comply with any covenant or
      agreement made by the Optionee to the Company in connection
    therewith;

	 	 	 
	 	(o) 	
      none of the Securities are listed on any stock exchange
      or automated dealer quotation system and no representation has been made
      to the Optionee that any of the Securities will become listed on any stock
      exchange or automated dealer quotation system; except that currently
      certain market makers make market in the common shares of the Company on
      the OTC Bulletin Board service of the National Association of Securities
      Dealers, Inc.;

	 	 	 
	 	(p) 	
      in addition to resale restrictions imposed under U.S.
      securities laws, there are additional restrictions on the Optionee's
      ability to resell the Securities under the B.C. Act and National
      Instrument 45-102 adopted by the British Columbia Securities
      Commission;

6

	 	(q) 	
      the Company will refuse to register any transfer of the
      Securities not made in accordance with the provisions of Regulation S,
      pursuant to an effective registration statement under the 1933 Act or
      pursuant to an available exemption from the registration requirements of
      the 1933 Act and in accordance with applicable state and provincial
      securities laws;

	 	 	 	 
	 	(r) 	
      the statutory and regulatory basis for the exemption
      claimed for the offer of the Securities, although in technical compliance
      with Regulation S, would not be available if the offering is part of a
      plan or scheme to evade the registration provisions of the 1933 Act or any
      applicable state and provincial securities laws;

	 	 	 	 
	 	(s) 	
      the Optionee has been advised to consult the Optionee's
      own legal, tax and other advisors with respect to the merits and risks of
      an investment in the Securities and with respect to applicable resale
      restrictions, and it is solely responsible (and the Company is not in any
      way responsible) for compliance with:

	 	 	 	 
	 		(i) 	
      any applicable laws of the jurisdiction in which the
      Optionee is resident in connection with the distribution of the Securities
      hereunder, and

	 	 	 	 
	 		(ii) 	
      applicable resale restrictions; and

	 	 	 	 
	 	(t) 	
      this Agreement is not enforceable by the Optionee unless
      it has been accepted by the Company.

4. Representations, Warranties and Covenants of the
Optionee

4.1 The Optionee hereby represents and warrants to and
covenants with the Company (which representations, warranties and covenants
shall survive the closing) that:

	 	(a) 	
      the Optionee is a director and executive officer of the
      Company;

	 	 	 
	 	(b) 	
      the Optionee has the legal capacity and competence to
      enter into and execute this Agreement and to take all actions required
      pursuant hereto;

	 	 	 
	 	(c) 	
      the Optionee has received and carefully read this
      Agreement;

	 	 	 
	 	(d) 	
      the Optionee has duly executed and delivered this
      Agreement and it constitutes a valid and binding agreement of the Optionee
      enforceable against the Optionee in accordance with its terms;

	 	 	 
	 	(e) 	
      the Optionee is not acquiring the Securities for the
      account or benefit of, directly or indirectly, any U.S. Person;

	 	 	 
	 	(f) 	
      the Optionee is not a U.S. Person;

	 	 	 
	 	(g) 	
      the Optionee is resident in the jurisdiction set out on
      page 1 of this Agreement;

	 	 	 
	 	(h) 	
      the acquisition of the Securities by the Optionee as
      contemplated in this Agreement complies with or is exempt from the
      applicable securities legislation of the jurisdiction of residence of the
      Optionee;

7

	 	(i) 	
      the Optionee is acquiring the Securities for investment
      only and not with a view to resale or distribution and, in particular, it
      has no intention to distribute either directly or indirectly any of the
      Securities in the United States or to U.S. Persons;

	 	 	 
	 	(j) 	
      the Optionee is outside the United States when receiving
      and executing this Agreement and is acquiring the Securities as principal
      for the Optionee's own account, for investment purposes only, and not with
      a view to, or for, resale, distribution or fractionalisation thereof, in
      whole or in part, and no other person has a direct or indirect beneficial
      interest in such Securities;

	 	 	 
	 	(k) 	
      the Optionee is not an underwriter of, or dealer in, the
      common shares of the Company, nor is the Optionee participating, pursuant
      to a contractual agreement or otherwise, in the distribution of the
      Securities;

	 	 	 
	 	(l) 	
      the Optionee (i) has adequate net worth and means of
      providing for his/her/its current financial needs and possible personal
      contingencies, (ii) has no need for liquidity in this investment, and
      (iii) is able to bear the economic risks of an investment in the
      Securities for an indefinite period of time, and can afford the complete
      loss of such investment;

	 	 	 
	 	(m) 	
      the Optionee is aware that an investment in the Company
      is speculative and involves certain risks, including the possible loss of
      the investment, and the Optionee has carefully read and considered the
      matters set forth under the caption "Risk Factors" appearing in the
      Company's various disclosure documents, filed with the SEC;

	 	 	 
	 	(n) 	
      the Optionee has the requisite knowledge and experience
      in financial and business matters as to be capable of evaluating the
      merits and risks of the investment in the Securities and the
    Company;

	 	 	 
	 	(o) 	
      the Optionee understands and agrees that the Company and
      others will rely upon the truth and accuracy of the acknowledgements,
      representations and agreements contained in this Agreement, and agrees
      that if any of such acknowledgements, representations and agreements are
      no longer accurate or have been breached, the Optionee shall promptly
      notify the Company;

	 	 	 
	 	(p) 	
      the Optionee acknowledges that the Optionee has not
      acquired the Securities as a result of, and will not itself engage in, any
      "directed selling efforts" (as defined in Regulation S under the 1933 Act)
      in the United States in respect of the Securities which would include any
      activities undertaken for the purpose of, or that could reasonably be
      expected to have the effect of, conditioning the market in the United
      States for the resale of the Securities; provided, however, that the
      Optionee may sell or otherwise dispose of the Securities pursuant to
      registration of the Securities pursuant to the 1933 Act and any applicable
      state and provincial securities laws or under an exemption from such
      registration requirements and as otherwise provided herein;

	 	 	 
	 	(q) 	
      the Optionee has made an independent examination and
      investigation of an investment in the Securities and the Company and has
      depended on the advice of its legal and financial advisors and agrees that
      the Company will not be responsible in anyway whatsoever for the
      Optionee's decision to invest in the Securities and the Company;

	 	 	 
	 	(r) 	
      the Optionee understands and agrees that none of the
      Options or the Optioned Securities have been or will be registered under
      the 1933 Act, or under any state securities or
"blue

8

	 		
      sky" laws of any state of the United States, and, unless
      so registered, may not be offered or sold except in accordance with the
      provisions of Regulation S, pursuant to an effective registration
      statement under the 1933 Act, or pursuant to an exemption from, or in a
      transaction not subject to, the registration requirements of the 1933 Act
      and in each case only in accordance with applicable state securities
      laws;

	 	 	 	 
	 	(s) 	
      it understands and agrees that the Company will refuse to
      register any transfer of the Optioned Securities not made in accordance
      with the provisions of Regulation S, pursuant to an effective registration
      statement under the 1933 Act or pursuant to an available exemption from,
      or in a transaction not subject to, the registration requirements of the
      1933 Act;

	 	 	 	 
	 	(t) 	
      the Optionee is not aware of any advertisement of any of
      the Securities and is not acquiring the Securities as a result of any form
      of general solicitation or general advertising including advertisements,
      articles, notices or other communications published in any newspaper,
      magazine or similar media or broadcast over radio or television, or any
      seminar or meeting whose attendees have been invited by general
      solicitation or general advertising; and

	 	 	 	 
	 	(u) 	
      no person has made to the Optionee any written or oral
      representations:

	 	 	 	 
	 		(i) 	
      that any person will resell or repurchase any of the
      Securities;

	 	 	 	 
	 		(ii) 	
      that any person will refund the purchase price of any of
      the Securities; or

	 	 	 	 
	 		(iii) 	
      as to the future price or value of any of the
      Securities.

4.2 In this Agreement, the term "U.S. Person" shall have the
meaning ascribed thereto in Regulation S promulgated under the 1933 Act and, for
the purpose of this Agreement, includes any person in the United States.

5. Acknowledgement and Waiver

5.1 The Optionee has acknowledged that the decision to purchase
the Securities was solely made on the basis of publicly available information
contained in the Company Information. The Optionee hereby waives, to the fullest
extent permitted by law, any rights of withdrawal, rescission or compensation
for damages to which the Optionee might be entitled in connection with the
distribution of any of the Securities.

6. Legending of Subject Securities

6.1 The Optionee hereby acknowledges that that upon the
issuance thereof, and until such time as the same is no longer required under
the applicable securities laws and regulations, the certificates representing
any of the Securities will bear a legend in substantially the following
form:

		
      THE SECURITIES REPRESENTED HEREBY HAVE BEEN
      OFFERED IN AN OFFSHORE TRANSACTION TO A PERSON WHO IS NOT A
      U.S. PERSON (AS DEFINED HEREIN) PURSUANT TO REGULATION S
      UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE
      "1933 ACT"). NONE OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN
      REGISTERED UNDER THE 
	

9

		
      1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND,
      UNLESS SO REGISTERED, MAY NOT BE OFFERED OR SOLD, DIRECTLY OR
      INDIRECTLY, IN THE UNITED STATES (AS DEFINED HEREIN) OR TO U.S.
      PERSONS EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S
      UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
      UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR
      IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
      REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE
      WITH APPLICABLE STATE SECURITIES LAWS. IN ADDITION,
      HEDGING TRANSACTIONS INVOLVING THE
      SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE
      1933 ACT. "UNITED STATES" AND "U.S. PERSON" ARE AS DEFINED BY
      REGULATION S UNDER THE 1933 ACT. 
	

6.2 The Optionee hereby acknowledges and agrees to the Company
making a notation on its records or giving instructions to the registrar and
transfer agent of the Company in order to implement the restrictions on transfer
set forth and described in this Agreement.

7. British Columbia Resale Restrictions

7.1 The Optionee acknowledges that the Securities are subject
to resale restrictions in British Columbia and may not be traded in British
Columbia except as permitted by the B.C. Act and the rules made thereunder.

7.2 Pursuant to National Instrument 45-102, as adopted by the
BCSC, a subsequent trade in the Securities will be a distribution subject to the
prospectus and registration requirements of applicable Canadian securities
legislation (including the B.C. Act) unless certain conditions are met, which
conditions include a hold period (the "Canadian Hold Period") that shall have
elapsed from the date on which the Options were issued to the Optionee and,
during the currency of the Canadian Hold Period, any certificate representing
the Securities is to be imprinted with a restrictive legend (the "Canadian
Legend").

7.3 By executing and delivering this Agreement, the Optionee
will have directed the Company not to include the Canadian Legend on any
certificates representing the Securities to be issued to the Optionee.

7.4 As a consequence, the Optionee will not be able to rely on
the resale provisions of National Instrument 45-102, and any subsequent trade in
the Securities during or after the Canadian Hold Period will be a distribution
subject to the prospectus and registration requirements of Canadian securities
legislation, to the extent that the trade is at that time subject to any such
Canadian securities legislation.

8. Costs

8.1 The Optionee acknowledges and agrees that all costs and
expenses incurred by the Optionee (including any fees and disbursements of any
special counsel retained by the Optionee) relating to the acquisition of the
Securities shall be borne by the Optionee.

10

9. Governing Law

9.1 This Agreement is governed by the laws of the Province of
British Columbia and the federal laws of Canada applicable therein. The Optionee
irrevocably attorns to the jurisdiction of the courts of the Province of British
Columbia.

10. Survival

10.1 This Agreement, including without limitation the
representations, warranties and covenants contained herein, shall survive and
continue in full force and effect and be binding upon the parties hereto
notwithstanding the completion of the purchase of the shares underlying the
Options by the Optionee pursuant hereto.

11. Assignment

11.1 This Agreement is not transferable or assignable.

12. Counterparts and Electronic Means

12.1 This Agreement may be executed in several counterparts,
each of which will be deemed to be an original and all of which will together
constitute one and the same instrument. Delivery of an executed copy of this
Agreement by electronic facsimile transmission or other means of electronic
communication capable of producing a printed copy will be deemed to be execution
and delivery of this Agreement as of the date first above written.

13. Currency

13.1 Unless explicitly stated otherwise, all funds in this
Agreement are stated in United States dollars.

14. Severability

14.1 The invalidity or unenforceability of any particular
provision of this Agreement shall not affect or limit the validity or
enforceability of the remaining provisions of this Agreement.

15. Entire Agreement

15.1 Except as expressly provided in this Agreement and in the
agreements, instruments and other documents contemplated or provided for herein,
this Agreement is the only agreement between the Optionee and the Company with
respect to the Options, and this Agreement supersedes all prior and
contemporaneous oral and written statements and representations and contain the
entire agreement between the parties with respect to the Securities.

16. Effectiveness

16.1 This Agreement shall be deemed to be effective following
the delivery by the Optionee to the Company of two fully executed copies of this
Agreement.

11

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

UPSTREAM BIOSCIENCES INC.

	By: 	/s/ Joel Bellenson 	 
	  	Authorized Signatory 	 

	WITNESSED BY: 	) 	  
	  	) 	  
	  	) 	  
	Name 	) 	  
	  	) 	  
	Address 	) 	/s/
      Dexster Smith 
	  	) 	DEXSTER SMITH 
	  	) 	  
	  	) 	  
	Occupation 	) 	  

APPENDIX A

	TO: 	Upstream Biosciences Inc. 
	  	Suite 100 – 570 West 7th Avenue 
	 	Vancouver, British
    Columbia  
	  	Canada 

Notice of Exercise

This Notice of Exercise shall constitute proper notice pursuant
to Section 1.6 of the Stock Option and Subscription Agreement dated as of March
16, 2007 (the "Agreement"), between the Company and the undersigned. The
undersigned hereby elects to exercise Optionee's option to
purchase____________________shares of the common stock of the Company at a price
of US$0.96 per share, for aggregate consideration of US$____________, on the
terms and conditions set forth in the Agreement. Such aggregate consideration,
in the form specified in Section 1.6 of the Agreement, accompanies this
notice.

The Optionee hereby directs the Company to issue, register and
deliver the certificates representing the shares as follows:

	Registration Information: 	 	Delivery Instructions: 
	 	 	 
	Name to appear on
      certificates 	 	Name
  
	 	 	 
	Address 	 	Address
    
	 	 	 
	 
    	 	  
	  	 	Telephone Number 

DATED at ____________________________________, the _______day
of______________, _______.

	 	 
	 	(Name of Optionee – Please type or print)

	 	 
	 	(Signature and, if applicable, Office) 
	 	 
	 	(Address of Optionee) 
	 	 
	 	(City, State, and Zip Code of Optionee) 
	 	 
	 	(Fax Number)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00130-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00130-of-00352.parquet"}]]