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Exhibit 10.2  

 
 

PURCHASE AGREEMENT    
  

THIS
AGREEMENT dated effective            , 1999 

AMONG:

	 	 	of	 	 
	
	 	 	 	

	

 	
 	

 	
 	

 
	

(the
"Vendor") 

    OF
THE FIRST PART 

AND:

PHAGE THERAPEUTICS INTERNATIONAL INC. of 22116 - 23rd Drive SE, Bothell WA 98021 

(the
"Purchaser") 

    OF
THE SECOND PART 

WHEREAS: 

	A.
	Phage
Therapeutics, Inc. ("Phage") is a company with business offices located in the State of Washington with a business in the research, development and marketing of
bacteriophages.

	B.
	The
Purchaser is desirous of purchasing the shares held by the Vendor in the capital stock of Phage. 

    NOW
THEREFORE THIS AGREEMENT WITNESSES that in consideration of one dollar (the receipt and sufficiency of which is hereby acknowledged) and the mutual promises contained herein the
parties agree as follows: 

ARTICLE 1
  Definitions  

	1.1
	In
this Agreement:

	(a)
	"Agreement" means this agreement and any amendment to any of them;

	(b)
	"Closing" means any closing of the purchase and sale of the Shares or any part of them at any Closing as provided in herein;

	(c)
	"Encumbrances" means mortgages, charges, pledges, security interests, liens, encumbrances, actions, and claims of any nature
whatsoever;

	(d)
	"Purchase Price" means shares of the Purchaser to be paid at the Closing; and

	(e)
	"Shares" means            shares held by the Vendor in the capital stock of Phage which are being offered for sale hereunder
and represent all of the shares held legally and beneficially by the Vendor. 

ARTICLE 2
  Purchase And Sale  

	2.1
	Purchased Shares. Relying upon the representations and warranties herein contained, and on and subject to the terms and conditions
hereof, the Vendor will sell to the Purchaser and the Purchaser will accept and acquire from the Vendor the Shares in exchange for the Purchase Price. 

 
ARTICLE 3
  Representations, Warranties And Covenants Of the Vendor  

	3.1
	Covenants, Representations and Warranties. The Vendor covenants, represents and warrants to the Purchaser that now and at Closing:

	(a)
	the
Vendor is the registered and beneficial owner of the Shares and have a good and marketable title to the Shares free and clear of all mortgages, liens, charges, security
interests, adverse claims, charges, encumbrances and demands whatsoever;

	(b)
	the
Shares have been duly and validly allotted, issued and delivered to the Vendor and are issued and outstanding as fully paid and non-assessable;

	(c)
	the
Vendor holds no other shares legally or beneficially in the capital stock of Phage other than the Shares;

	(d)
	any
convertible right held by the Vendor (the "Convertible Right"), including without limitation, any stock options, stock appreciation rights, warrants or convertible debentures,
shall be deemed to be void and have no force or effect at or subsequent to the Closing;

	(e)
	if
the Vendor hold any Convertible Right, the Vendor agrees not to directly or indirectly exercise any rights pursuant to that Convertible Right;

	(f)
	if
applicable, the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby have been duly authorized by the board of directors of the
Purchaser;

	(g)
	the
shares comprising the Purchase Price have not been registered under the Securities Act of 1933 nor qualified under applicable state securities laws in reliance upon exemptions
therefrom. These shares may be acquired for investment purposes only and not with a view to distribution or resale, and the shares may not be sold, mortgaged, pledged, hypothecated or otherwise
transferred or offered to be so transferred without an effective registration statement for such securities under the Securities Act of 1933 and the regulations promulgated pursuant thereto (unless
exempt therefrom), or an opinion of counsel satisfactory to the board of directors, that any such transaction shall not violate any federal or state securities laws;

	(h)
	no
person, firm or corporation has any agreement or option or any right or privilege, whether by law, pre-emption or contract, that is capable of becoming an agreement
or option for the purchase of the Shares; and

	(i)
	the
Vendor will not sell, transfer, mortgage, charge, or otherwise dispose of any of the Shares while they may have any obligation under this Agreement. 

ARTICLE 4
  Representations. Warranties And Covenants Of the Purchaser  

	4.1
	Representations and Warranties. The Purchaser represents and warrants to the Vendor that he has the full authority to enter into this
Agreement. 

ARTICLE 5
  Survival Of Representations. Warranties And Covenants. And Indemnification  

	5.1
	Survival and Indemnification. The representations, warranties and covenants made by the Vendor and the Purchaser in this Agreement
will survive any Closing and, notwithstanding such Closing or any investigation made by or on behalf of either the Vendor, the Purchaser or any other person acting on their behalf, will continue in
full force and effect. 

2

 
ARTICLE 6
  Conditions Precedent To The Obligations Of the Purchaser  

	6.1
	Conditions. The obligations of the Purchaser to complete the transactions provided for in this Agreement are subject to the
fulfillment prior to or concurrently with any Closing of the following conditions:

	(a)
	the
representations and warranties of the Vendor contained hereunder will be true and accurate in every material respect at the time of any Closing with the same effect as if such
representations and warranties had been made at such Closing;

	(b)
	the
Vendor will have complied with or performed all of the terms, covenants and conditions contained in this Agreement which are to be complied with or performed by the Vendor on or
before any Closing; and

	(c)
	the
Purchaser shall be at liberty to photocopy and telecopy the Closing Documents to the legal counsel and registered office of Phage to confirm the transferability of the Shares
being sold hereunder, and if so advised by any of such parties, the Vendor shall provide such further
documentation, signatures and do such further acts to facilitate the conveyance of the Shares to the Purchaser. 

	6.2
	Waiver of Conditions. The conditions contained in Section 6.1 are inserted for the exclusive benefit of the Purchaser and may
be waived in whole or in part by the Purchaser at any time without prejudice to the right of the Purchaser to rely on all covenants, agreements, representations and warranties in this Agreement and
all conditions contained in Section 6.1, except to the extent so waived in writing by the Purchaser. In case any of the conditions contained in Section 6.1 are not fulfilled or complied
with as provided, the Purchaser may, on or prior to any Closing at its option, rescind this Agreement by notice in writing to the Vendor and in such event the Purchaser and the Vendor will be released
from all obligations hereunder. 

ARTICLE 7
  Conditions Precedent To The Obligations Of the Vendor  

	7.1
	Conditions. The obligations of the Vendor to complete the transactions provided for in this Agreement are subject to the fulfillment
prior to or concurrently with the Closing, of the following conditions:

	(a)
	the
representations and warranties of the Purchaser contained hereunder will be true and accurate in every material respect at the time of the Closing with the same effect as if
such representations and warranties had been made at the Closing;

	(b)
	the
Purchaser will have complied with or performed all of the terms, covenants and conditions contained in this Agreement which are to be completed or performed by the Purchaser on
or before the Closing; 

	7.2
	Waiver of Conditions. The conditions contained in Section 7.1 are inserted for the exclusive benefit of the Vendor and may be
waived in whole or in part by the Vendor at any time without prejudice to the right of the Vendor to rely on all covenants, agreements, representations and warranties in this Agreement and all
conditions contained in Section 7.1, except to the extent so waived in writing by the Vendor. 

3

 
ARTICLE 8
  Closing  

	8.1
	Deliveries

	(a)
	Within
3 business days of this Agreement, the Vendor shall deliver to Phage the following in respect of each their shares:

	(i)
	the
Shares originally and duly endorsed for transfer;

	(ii)
	in
the case where the Vendor is a corporate entity, an originally executed director's resolution authorizing the endorsement of the Shares;

	(iii)
	an
instruction sheet addressed to the Purchaser describing (a) in what name and what address the Vendor wishes to have the shares
comprising the Purchase Price registered; and (b) where such shares are to be delivered by the Purchaser's transfer agent, (the "Closing Documents"). 

	(b)
	Upon
receipt by the Purchaser of the Closing Documents in the proper form pursuant to the terms of this Agreement, the Purchaser shall cause its transfer agent to immediately issue
the shares comprising the Purchase Price and have the transfer agent deliver such shares directly to the Vendor. 

ARTICLE 9
  Miscellaneous  

	9.1
	Transactional Expenses. It is agreed that each party to this Agreement will bear their own respective costs incurred in negotiating
and preparing this Agreement, in closing and carrying out the transaction contemplated hereunder. All costs related to satisfying any condition or fulfilling any covenant contained in this Agreement
will be borne by the party whose responsibility it is to satisfy the provision in question.

	9.2
	Arbitration. Any dispute between the parties in respect of the interpretation of this Agreement or any matter to be agreed upon under
this Agreement, or otherwise arising under this Agreement will be determined by arbitration. Either party may, by written notice to the other as provided herein, demand arbitration of any dispute
under this Agreement. Upon a demand for arbitration, each party will, within 10 days after the date on which notice of the demand is given, appoint an arbitrator and the 2 arbitrators so
appointed will choose a third arbitrator. If either party fails to appoint an arbitrator, the arbitrator appointed by the other party will proceed to determine the dispute as sole arbitrator. If the
arbitrators appointed by the parties do not within 3 days after they have both been appointed agree on a third arbitrator, the third arbitrator will be appointed pursuant to the Commercial
Arbitration Act (British Columbia). The decision of the arbitrator or the arbitrators or a majority of them will be final and binding upon the parties.

	9.3
	Further Assurances. Each of the parties hereby covenants and agrees that at any time and from time to time either before or after the
Closing it will, upon the request of the other party, do, execute, acknowledge and deliver or cause to be done, executed, acknowledged and delivered all such further acts, deeds, assignments,
transfers, conveyances, powers of attorney and assurances as may he required for the better carrying out and performance of all the terms of this Agreement.

	9.4
	Notice. Any notice required or permitted to be given or delivery required to be made to any party may be effectively given or
delivered if it is delivered personally or by telex or telecopy at the addresses or telephone numbers set out above or to such other address or telephone number as 

4

 

the
party entitled to or receiving such notice may notify the other party as provided for herein. Delivery shall be deemed to have been received: 

	(a)
	the
same day if given by personal service or if transmitted by fax; and

	(b)
	the
fifth business day next following the day of posting if sent by regular post. 

	9.5
	Governing Law. This Agreement will be governed by and be construed in accordance with the laws of British Columbia.

	9.6
	Successors and Assigns. This Agreement will be binding upon and enure to the benefit of the parties hereto and their respective
successors and permitted assigns as the case may be.

	9.7
	Entire Agreement. This Agreement constitutes the entire agreement between the parties and supersedes all prior letters of intent,
agreements, representations, warranties, statements, promises, information, arrangements and understandings, whether oral or written, express or implied.

	9.8
	Time of the Essence. Time will be of the essence.

	9.9
	Publicity. All news releases or other public announcements or disclosures to clients of the parties or others will be mutually agreed
upon and in any event will be subject to regulatory requirements.

	9.10
	Amendment. No modification or amendment to this Agreement may be made unless agreed to by the parties thereto in writing.

	9.11
	Severability. In the event any provision of this Agreement will be deemed invalid or void, in whole or in part, by any court of
competent jurisdiction, the remaining terms and provisions will remain in full force and effect.

	9.12
	Headings. The headings contained herein are inserted for convenience only and will not be construed as part of the Agreement.

	9.13
	Counterparts. This Agreement may be executed by facsimile and in any number of counterparts with the same effect as if all parties
to this Agreement had signed the same document and all counterparts will be construed together and will constitute one and the same instrument, and any facsimile signature shall be taken as an
original. 

    IN
WITNESS WHEREOF the parties hereto have duly executed this Agreement as of            , 1999. 

	
PHAGE THERAPEUTICS INTERNATIONAL INC.	
 	

 
	

 	
 	

 
	
 Per: Authorized Signatory	 	 
	

 	
 	

 
	VENDOR	 	 
	

 	
 	

 
	
 Per: Authorized Signatory

	 	 

5

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Exhibit 10.3  

 
 

SUBSCRIPTION AGREEMENT
  
    PHAGE THERAPEUTICS INTERNATIONAL INC.
  
    REGULATION D - RULE 506 - OFFERING    
  

Phage
Therapeutics International Inc.

(the "Company")

22116 — 23rd Drive SE

Bothell, Washington 98021 

Gentlemen,

    The
undersigned (the "Purchaser") hereby tenders this Subscription Agreement to you and applies for the purchase of            units for $0.70 each for an aggregate purchase
price of $            . Each "Unit" consisting of one common share in the capital of the Company (a "Share") and one common share purchase warrant of the Company ("Warrant") at a price of
$0.70
per Unit. Each whole Warrant entitles the holder to purchase one additional common share in the Company for $1.25 per share at any time on or before the end of one year from the date of acquisition of
the Units and and thereafter for US$2.00 at any time on or before the end of two years from the date of acquisition. All sums are in US currency. THESE SECURITIES ARE
CONSIDERED RESTRICTED SECURITIES IN UNITED STATES. 

    The
undersigned hereby acknowledges: 

	(a)
	the
undersigned is familiar with the business and financial condition, properties, operations and prospects of the Company and the undersigned has obtained copies of all information
the undersigned deems necessary or appropriate to evaluate the merits and risks of an investment in the Units. The undersigned further acknowledges that the undersigned has had the opportunity to ask
questions of, and to receive answers from representatives of the Company concerning the terms and conditions of the offering;

	(b)
	that
upon the execution hereof by the undersigned, payment by the undersigned of the full price of the Units subscribed for hereby shall be due and payable and shall accompany the
return of this Subscription Agreement by the undersigned and shall be payable in U.S. funds;

	(c)
	that
in the event this Subscription Agreement is rejected by the Company, the initial payment by the undersigned shall be returned to the undersigned with the notice of such
rejection;

	(d)
	that
any cash payment for the Units (in a form payable to the Company) will be deposited directly into the Company's bank account and will be immediately available for use by the
Company. In the event that this subscription has not been accepted by the earliest of (1) the date the Company may, in its sole discretion, determine; (2) the date on which all the Units
are sold; or (3) February 14, 2000, (the "Closing Date"), the payment made by the undersigned and documents provided will be promptly returned by the Company to the undersigned without
further obligation;

	(e)
	the
undersigned understands and acknowledges that an investment in the Company is not liquid, not easily transferable or disposed of, and that he has no need for liquidity of this
investment. The underlying Shares and Warrants forming the Units and issued under Rule 506 will bear a restrictive legend; and

	(f)
	that
each subscriber is personally liable for the total amount of the subscription price.

	(g)
	the
undersigned understands and acknowledges that an investment in the Company is not liquid, not easily transferable or disposed of, and that he has no need for liquidity of this
investment. There will be no public market for the Units, and accordingly, the undersigned 

 

will
need to bear the economic risk of his investment for an indefinite period of time and will not be readily able to liquidate this investment in case of any emergency. Further, there are
substantial restrictions on the transferability of the Units. The Units issued under Rule 506 of Regulation D of the Securities Act of 1933 will
bear the following restrictive resale exemption: 

"No
sale, offer to sell, or transfer of the shares represented by this certificate shall be made unless a registration statement under the Federal Securities Act of 1933, as amended, with respect to
the shares is then in effect or an exemption from the registration requirements of said act is then in fact applicable to said shares." 

In
consideration of the sale of the Units and intending to be legally bound, the undersigned hereby represents and warrants as follows: 

	1.
	The
undersigned has substantial knowledge, skill and experience in business, financial and investment matters and is capable of evaluating the merits and risks of an investment in
the Units. To the extent that the undersigned has deemed it appropriate to do so, the undersigned has retained, at his or her own expense, and relied on, appropriate professional advice regarding the
investment, tax and legal merits and consequences of purchasing the Units.

	2.
	The
principal residence of each of the undersigned, if an individual, is in the State, Province or Country shown in this Subscription Agreement; if the undersigned is a corporation,
trust or other entity (except a partnership), it was incorporated or organized and is existing under the laws of the State, Province or Country shown in this Subscription Agreement; if the undersigned
is a partnership, the principle residence of all of its general partners are in the States shown in this Subscription Agreement; and if the undersigned is a corporation, trust, partnership or other
entity; it was not organized for the specific purpose of acquiring the Units.

	3.
	The
Units for which the undersigned hereby subscribes will be acquired solely for the account of the undersigned (or if the undersigned is a trust, solely for the beneficiaries
thereof), for investment and is not being purchased for subdivision or fractionalization thereof; and the undersigned has no contract, undertaking, agreement or arrangement with any person to sell,
transfer or pledge to such person, or to anyone else, the Units which the undersigned hereby subscribes to purchase or any part thereof, and the undersigned has no present plans to enter into any such
contract, undertaking, agreement or arrangement.

	4.
	The
Company has made all documents pertaining to this investment available to the undersigned.

	5.
	The
undersigned is investing in his own name or in the capacity indicated herein; and was not solicited by any form of general solicitation or general advertising.

	6.
	The
undersigned, if an individual, is at least 21 years of age and a bona fide resident of the State, Province or Country indicated herein and has no present intention of becoming a
resident of any other state or jurisdiction; 

    The
undersigned is one of the following: (Please check one) 

	 
	 	 

	For Individual Investors Only
	

	
 	

(a) a natural person who has an individual net worth, or joint worth with that person's spouse of more than $1,000,000; or
	

	
 	

(b) a natural person who had an individual income in excess of $200,000 (a joint income in excess of $300,000 with his spouse) in each of the two most resent years and who reasonably expects to reach the same income level in the current year;
or
	

	
 	

(c) a director or executive officer of the Company;

2

 

	

	
 	

(d) a person with an annual income of at least $65,000 per year with sufficient knowledge and experience in financial and business matters to valuate the risks of the investment.
	

	
 	

(e) none of the above.
	

For Corporate Investors Only
	

	
 	

(e) the undersigned hereby certifies that it is an accredited investor because it has total assets in excess of $5,000,000 and was not formed for the specific purpose of investing in the Company;
	

	
 	

(f) the undersigned hereby certifies that it is a accredited investor because all of its equity owners are accredited investor under statement 6(a), (b), (c),or (d) above.
	

	
 	

(g) none of the above.
	

For Trusts
	

	
 	

(h) the undersigned hereby certifies that it is an accredited investor because it is a trust which has total assets in excess of $5,000,000 and was not formed for the specific purpose of investing in the Company and that the purchase is directed by a
person with such knowledge and experience in financial and business matters that he is capable of evaluating the risks and merits of an investment in the Company;
	

	
 	

(i) the undersigned hereby certifies that it is an accredited investor because it is (i) a bank, or savings and loan association or other institution, as defined in Sections 3(a)(2) or 3(a)(5)(A) of the Securities Act of 1933,
(ii) acting in its fiduciary capacity as trustee, and (iii) subscribing on behalf of a trust for the purchase of the Units.
	

	
 	

(j) the undersigned hereby certifies that it is an accredited investor because it is a revocable trust which may be amended or revoked at any time by the grantors thereof and all of the grantors are accredited investors under either statement 7(a),
(b), (c), or (d) above.
	

	
 	

(k) none of the above.

	7.
	If
the undersigned warrants eligibility for participation in accordance with Paragraph 6(d) above, undersigned hereby represents and warrants
that he has an individual net worth (or joint net worth with his spouse) at the time of Subscription of at least $65,000 (exclusive of home, home furnishings and personal automobiles) for the Units
subscribed for.

	8.
	The
undersigned acknowledges an understanding of the restrictions on transferability of the Units purchased herein. 

The
undersigned acknowledges and is aware of the following: 

	9.
	This
subscription may be accepted or rejected, in whole or in part by the Company in its sole and absolute discretion.

	12.
	The
Units are a speculative investment which involves a high degree of risk of loss by the undersigned of the entire investment of the undersigned
and there is no assurance of any income from such investment.

	10.
	No
federal or state agency has made any finding or determination as to the fairness of the offering, or any recommendation or endorsement of the
Units.

	11.
	There
are substantial restrictions on the transferability of the Units and the underlying Shares and Warrants. There will be no public market for the
Units and the underlying Shares and Warrants, and accordingly, the undersigned will need to bear the economic risk of his investment for an 

3

 

indefinite
period of time and will not be readily able to liquidate this investment in case of any emergency. Further, the underlying Shares and Warrants issued under Rule 506 of Regulation D
of the Securities Act of 1933 will bear a restrictive legend concerning resale restrictions imposed under Rule 144 of the  Securities Act of 1934.

	16.
	The
undersigned agrees not to transfer or assign this subscription or any interest therein and agrees that if this subscription is accepted by the
Company, the assignment and transferability of the Units and the underlying Shares and Warrants purchased by the undersigned will be governed by all applicable state, provincial and federal laws.

	17.
	In
connection with this subscription, the undersigned is relying on the following representations and warranties of the Company:

	(a)
	the
Company has been duly incorporated and organized, is validly subsisting under the laws of its jurisdiction of incorporation, is current and up
to date with all material filings required to be made under the laws of that jurisdiction and has all requisite corporate power and authority to own its property and assets and to carry on its
business as now conducted or proposed to be conducted;

	(b)
	the
authorized capital of the Issuer consists of 50,000,000 shares of common stock with a par value of $0.001 per unit, of which 6,552,586 shares
have been validly issued and are outstanding as of the date hereof;

	(c)
	no
person has any agreement or option, or any right or privilege (whether pre-emptive or contractual) capable of becoming an agreement (including
convertible securities or warrants), to acquire any unissued shares or other securities of the Company;

	(d)
	the
Company has not entered into any contracts, commitments or engagements or incurred any liabilities that could be regarded as presently material
to a proposed investor in this offer of shares other than contracts, commitments or engagements entered into or liabilities incurred in the ordinary course of business of the Company and except in
connection with the offering of the subject securities;

	(e)
	to
the knowledge of the Company, there are no actions, suits, proceedings or inquiries pending or threatened against or affecting the Company, at
law or in equity, before or by any federal, state, provincial, municipal or other governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, which may in any
way materially and adversely affect the Company taken as a whole or which may question the validity of the issue and sale of the securities;

	(f)
	neither
the acceptance or execution of this subscription agreement nor the consummation of the transactions provided for or contemplated herein
results or will result in the breach of nor conflict with any of the terms, conditions or provisions of, or will constitute a default under, the articles, by-laws or resolutions of the Company or any
indenture, agreement or instrument to which the Company is a party or is bound;

	(g)
	the
audited balance sheet of the Company as at August 31, 1998, and the statements of income, retained earnings and changes in cash for the
years then ended, together with the report of the auditors of the Company thereon, have been prepared in accordance with the accounting practices described in the notes thereto, on a basis consistent
with previous years and present fairly the assets,
liabilities and the financial condition of the Company as at such dates and the sales, income and results of operations of the Company during the periods covered thereby;

	(h)
	the
unaudited financial statements of the Company as at April 30, 1999, have been prepared in accordance with the same accounting practices
described in section (g) above applied on a 

4

 

basis
consistent with previous years and present fairly the sales, income and results of operations of the Company during the periods covered thereby; 

	(i)
	the
proceeds to the Company from the sale of the shares will be used as general working capital;

	(j)
	there
has been no material change (actual, anticipated,            or            , financial or otherwise) except as publicly
disclosed prior to February 6, 2000,            the business,            , operations,
            or liabilities (contingent or otherwise) of the Company since
April 30, 1998; and

	(k)
	the
shares of the common stock of the Company are quoted on the Over the Counter Bulletin Board operated by the National Accreditation of Securities
Dealers in the United States. 

    The
undersigned recognizes that the offer and sale of the Units to the undersigned is based on the representations and warranties of the undersigned contained in Paragraphs 1 through
8 above and hereby agrees to indemnify the Company and the officers and directors of the Company, and to hold each of such entities and persons harmless against all liabilities, costs or expenses
(including reasonable attorney's fees) arising by reason of or in connection with any misrepresentations or breach of such warranties by the undersigned or arising as a result of the sale or
distribution of the Units by the undersigned in violation of the Securities Exchange Act of 1934, as amended, the Securities Act
of 1933, as amended, or any other applicable federal or state statute. 

    Upon
acceptance of the Company of the subscription agreement by the undersigned, the undersigned agrees to become an investor in the Company. The undersigned acknowledges and agrees
that the undersigned is not entitled to cancel, terminated revoke this subscription agreement or any agreements of the undersigned herein, and that such subscription or agreements shall survive
(a) changes in transactions, documents and instruments described in any materials provided by the Company which the aggregate are not material, and (b) the death or disability of t he
undersigned; provided, however, that if the Company shall not have accepted this subscription by the Closing Date, either by personally delivering to the undersigned an executed copy hereof reflecting
such acceptance or by depositing in the United States Mail, postage prepaid, a written notice of acceptance addressed to the undersigned
hereunder, and the power of attorney granted hereby shall be automatically canceled, terminated and revoked. 

    The
undersigned acknowledges the he/she is a person who has knowledge and experience in financial and business matters such that the undersigned is capable of evaluating the merits
and risk of an investment in the Company and making an informed decision. 

    WHEREFORE,
IN CONSIDERATION, of the foregoing covenants and restrictions, I hereby submit the following subscription for the below referenced number of Units as described in this
Subscription Agreement, furthermore, I acknowledge I have received copies of all information I deemed necessary or appropriate to evaluate the merits and risks of an investment in the Units. 

                        Number
of Units 

                        Cash
Payment ($0.70 per Unit) 

	 
	 	 
	 	 

	
 Per: Authorized Signatory	 	
 Date
	

Print Name:	
 	

	
 	

 
	

Address:	
 	

	
 	

 
	

	
 	

 
	

 Social Security Number/Employer Identification Number

5

 

ACCEPTANCE  

    Phage Therapeutics International Inc. herewith accepts the foregoing subscription for Units. 

PHAGE THERAPEUTICS INTERNATIONAL INC.  

	 
	 	 
	 	 

	
 Per: Authorized Signatory	 	
 Date

6

 
PHAGE THERAPEUTICS INTERNATIONAL INC.

REGISTRATION INSTRUCTIONS  

    Please register the Units acquired by the undersigned as follows: 

	 
	 
	 

	

	Printed Name	 	 
	

	Address	 	 
	

	City	State/Province	Zip Code/Postal Code
	

 Social Security Number/Employer Identification Number
	

Number of Units:	

	

 
	

Date Acquired:	

	

 

	 
	 	 

	
 Signature	 	
 Date
	

 Printed Name	
 	

 

7

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SUBSCRIPTION AGREEMENT PHAGE THERAPEUTICS INTERNATIONAL INC. REGULATION D - RULE 506 - OFFERING

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