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                                                                   EXHIBIT 10.37

                              OFFICER'S CERTIFICATE

         I, the undersigned, do hereby certify and represent that:

         1. I am the duly elected Senior Vice President and Chief Business
Officer of deCODE genetics, Inc., a Delaware Corporation.

         2. Pursuant to Rule 306(a) of Regulation S-T, the following exhibit
10.37 to deCODE genetics, Inc.'s Registration Statement on Form S-1 is a fair
and accurate English translation of a document prepared in the Icelandic
language.

         IN WITNESS WHEREOF, I have signed this Officer's Certificate in my
capacity as Senior Vice President and Chief Business Officer of deCODE genetics,
Inc. on this 7th day of March, 2000.

                       By:      /s/  Hannes T. Smarason
                                ---------------------------

                       Name:    Hannes T. Smarason
                       Title:   Senior Vice President and Chief Business Officer

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                                     LEASE

1.       MAIN ITEMS OF THE LEASE

1.01.    Lessor: the Computer Centre of the Icelandic Savings Banks, State Reg.
         No. 700389-1119, domiciled at Hlidarsmari 19, Kopavogur.

1.02.    Lessee: Islensk erfdagreining ehf., State Reg. No. 691295-3549,
         domiciled at Lynghals 1, Reykjavik.

1.03.    Leased property: office space at Hlidarsmari 19, Kopavogur. The leased
         property is 138.5 square metres on a mezzanine floor over the third
         storey, marked as 03-03. The leased property is 148.3 square metres,
         but a 10-square metre ventilation room is excluded.

1.04.    Activities: development work.

1.05.    Period of lease: 18 months.

1.06.    First date of Lease: 1 December 1999.

1.07.    Final date of Lease: 1 June 2001.

1.08.    Type of Lease: temporary.

1.09.    Terms of Lease: Monthly payments of ISK 800 per square metre.

1.10.    Share in common cost: 4.95% of the total cost of the building. The cost
         of electricity is collected according to estimated use (a certified
         electrical contractor of the building is preparing a plan for this
         purpose).

1.11.    Place of lease and other payments: to the account of the Computer
         Centre of the Icelandic Savings Banks No. 1100-26-2600 at Icebank Ltd.

1.12.    Surety for lease payments and the payment of shared costs: a surety
         bond in the amount of ISK 330,000.

2.       TYPE OF LEASE

2.1      By this Lease, which constitutes a temporary lease pursuant to the
         Leasehold Act No. 36/1994, the Lessee leases the leased property under
         the conditions and terms further specified herein. The period of lease
         shall begin on 24 November 1999 and end without specific termination or
         notice on 24 May 2001. Following this period, the parties may extend
         the Lease by three months at a time.

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3.       LEASE AMOUNT AND PAYMENT

         The rent for the leased property is ISK 110,800 per month. The rent
         shall be adjusted in accordance with changes in the consumer price
         index, on the basis of the base index of November 1999, i.e. 193.3
         points.

         Payments on the lease shall be effected on the first date of each
         month, and are payable one month in advance at each time. In the event
         that the Lessee does not effect payment on the rent within seven days
         from the due date, he shall pay the maximum punitive interest permitted
         by law for the amount outstanding until the date on which payment is
         made.

4.       SURETY TO THE LESSOR

         For the surety of payments of the lease, cost or possible damage caused
         to the premises by the Lessee or persons representing the Lessee, the
         Lessee shall submit a bill of exchange as a surety bond in the amount
         of ISK 330,000. The bill of exchange shall be issued and accepted by
         Islensk erfdagreining ehf.

5.       OPERATING COSTS

5.1      The Lessee shall pay the cost of the leased property as regards the use
         of hot and cold water as well as electricity. The Lessee shall pay the
         cost of cleaning the leased property and a share in the cost of
         cleaning the common area, cf. Article 1.10. Also, the Lessee shall pay
         costs in relation to the clearing of snow, in proportion with the share
         of the leased property in the area surrounding the premises.

5.2      The Lessee shall pay all real property charges on the leased property,
         including sewage charges and special tax on business premises, outdoor
         space rent, fire insurance and home-owner's insurance.

5.3      Operating costs which the Lessor pays for the Lessee shall be paid by
         the Lessee on his receipt of an invoice from the Lessor. In the event
         that the Lessee pays operating cost which should be paid by the Lessor,
         the Lessee may deduct such cost from the next lease payment.

6.       ALTERATIONS OF THE LEASED PROPERTY

6.1      The Lessee may not make changes to the premises, except with the
         written approval of the Lessor. The Lessor shall oppose alterations by
         the Lessee only with good reason. Such reasons include effect of the
         alterations on the appearance, carrying capacity, common area or use of
         the building.

         Minor repairs of the leased property, such as in relation to detachable
         fixtures, partition walls, wall ornaments etc. do not require the
         approval of the Lessor.

         All of the above alterations by the Lessee shall be at his own expense,
         including costs which may fall on the Lessor, other owners or lessees
         as a result of such alterations or their approval.

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6.2      All fixtures resulting from alterations shall become the property of
         the Lessor at the end of the lease period, unless the Lessor requests
         that the Lessee restore the leased property, in its entirety or in
         part, to its former condition.

7.       MAINTENANCE OF THE LEASED PROPERTY
7.1      The Lessee has inspected the leased property thoroughly and made no
         comments. The premises are clean, window panes are intact, and locks,
         switches, lavatory facilities, water pipes and drainage pipes are in
         good order. The Lessor is not under any obligation to make any changes
         to the premises, nor paint or repair it. No inspection of the leased
         property shall be carried out, unless such inspection is requested by
         either party within one week, at the latest, of the first day of this
         Lease. On receipt of the leased property, the Lessee acknowledges that
         the leased property is suitable for the activities for which it is
         leased, and that it is in a good condition and well maintained.

7.2      The Lessee undertakes to treat the leased property with care and in
         accordance with its agreed use.

         The Lessee shall at his own cost perform all maintenance of the
         specified leased property, including paintwork and repair of locks,
         faucets, electrical connections, fixtures etc.

         In the event that the leased property or its appurtenances are damaged
         by the Lessee, staff or other persons which the Lessee has granted use
         of or access to the premises, the Lessee shall make arrangements to
         compensate for the damage as soon as possible. If the Lessee neglects
         his obligations in this respect, the Lessor may request repair of the
         damage at the expense of the Lessee. The Lessor shall seek the opinion
         of the municipal building inspector before having the repair carried
         out, and obtain the inspector's approval of the cost when the repair
         has been completed.

7.3      When the lease period has ended, the Lessee shall return the leased
         property to the Lessor together with its appurtenances in the same
         condition as he received it. The Lessee bears unlimited liability for
         the compensation of all deterioration and damage to the premises, in so
         far as such deterioration or damage is not a normal consequence of its
         agreed or ordinary use.

7.4      Both parties may request inspection of the leased property at the
         beginning and end of the lease period. The parties shall pay equal
         shares in the cost of the inspection, unless either party is obviously
         the cause of the dispute according to the arbitrator's claims.

7.5      The Lessee shall be responsible for outdoor maintenance as well as the
         maintenance of the common area, including the lift; furthermore, the
         maintenance of windows from the outside, electrical installations and
         pipes to the premises used by the Lessee alone. In the event that the
         Lessee is responsible for the need for repairs to any of the above, he
         shall pay the cost of such repair.

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7.6      In the event that the Lessee considers the maintenance by the Lessor
         inadequate, the Lessee shall request that the Lessor make improvements
         and outline in which respect improvements are needed in his opinion.

7.7      Maintenance personnel of the Lessor shall be granted the necessary
         access to the leased property during repair work. The Lessor shall take
         measures to minimise the disturbance caused to the Lessee by the
         repair.

8.       USE OF THE LEASED PROPERTY

8.1      The Lessee may use the leased property as an office. He may not use the
         leased property in any other manner, except with the approval of the
         Lessor. However, the Lessor shall not obstruct other use of the
         premises by the Lessee if such use affects neither the Lessor nor other
         parties operating in the building.

8.2      The Lessee may not engage in any activities or store any such items in
         the leased property which may cause damage to the Lessor or other
         parties, or contravenes law or regulations.

8.3      The Lessee shall at all times treat the leased property with due care
         and tidiness observe generally accepted practises and rules of conduct
         regarding cleanliness, hygiene and healthiness.

         The Lessee shall observe generally accepted rules of courtesy, and
         ensure that habitual use of the building by others is not disturbed and
         that other occupants are not subjected to discomfort or annoyance. The
         Lessee shall observe any rules of conduct in the building which have
         been or may be established. The Lessor shall ensure that the Lessee
         enjoys the rights resulting from such rules of conduct.

9.       ACCESS OF THE LESSOR TO THE LEASED PROPERTY

9.1      The Lessor shall have the right of access to the leased property with a
         reasonable prior notice and in consultation with the Lessee in the
         presence of the Lessee or his representative, to carry out improvements
         of the leased property, and for the inspection of its condition and
         treatment. Also, the Lessor may exhibit the leased property to
         potential purchasers or lessees, provided that he informs the Lessee
         with at least 24 hours' notice.

9.2      The Lessor reserves the right to keep in his possession a key at all
         times to the leased property, so that he can at any time enter the
         ventilation room which is situated within the leased space. The
         ventilation room shall be the responsibility of the Lessor in all
         respects, and the Lessee shall have no access to the room. For routine
         inspection and maintenance of equipment in the ventilation room, the
         Lessor shall consult the Lessee on the time for such work to be carried
         out.

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10.      TRANSFER OF RENTAL RIGHTS

10.1     The Lessee may not transfer his rental rights or sub-lease the leased
         property without the consent of the Lessor.

11.      CANCELLATION OF LEASE

11.1     This Lease shall be subject to the rules on termination of Chapter III
         of the Leasehold Act No. 36/1994.

12.      OTHER

12.1     Any dispute arising out of this Lease shall be brought before the
         District Court of Reykjavik.

12.2     Any issues which the provisions of this Lease do not cover shall be
         subject to the Leasehold Act No. 36/1994.

In witness whereof, the Lessor and Lessee attach their signatures to this Lease
in the presence of witnesses.

                          Reykjavik, 24 November 1999.

On behalf of                                         On behalf of
the Computer Centre of                               Islensk erfdagreining ehf.
the Icelandic Savings Banks
[Company signature]                                  Kari Stefansson [sign.]

Witnesses:
Helga Stefansdottir [sign.]
Elin Poroardottir [sign.], Id. No. 060763-4969

                                                                               5<PAGE>   1
                                                                   EXHIBIT 10.38

                        RESEARCH COLLABORATION AGREEMENT

between Islenskar hveraorverur ehf., Keldnaholti 112, Reykjavik, Iceland,
National ID No 620698-2379, and Islensk erfdagreining ehf, National ID No
691295-3549, Lynghalsi 1, 110 Reykjavik, Iceland, both companies incorporated
under the laws of Iceland.

1. PRELIMINARY STATEMENTS

1.1. Islensk erfdagreining (IE) operates an advanced, high-throughput genotyping
laboratory and DNA sequencing facility and possesses the infrastructure and
expertise necessary to generate, store and analyze vast amounts of genetic
information,

1.2. Islenskar hveraorverur ehf. (IH) has an extensive experience in thermophile
research.

1.3. For the past 2 years IH and deCODE have been jointly engaged in research
collaboration ("Collaboration") in the field of discovery of novel enzymes and
other useful compounds derived from thermophilic organisms. Specifically, the
focus of the work has been on 2 research projects, i.e. long-range thermostable
DNA polymerases and resolvases for enzymatic mutation detection, which are
described in Appendix A in more detail.

1.4. The company Islensk natturuefni ehf. (IN) and IE have collaborated to
discover new and useful compounds from lichens for therapeutic purposes. By the
decision of shareholders of IH and IN, these companies will merge under the name
of IH.

1.5. In 1999 a provisional patent application was filed with the United States
Patent and Trademark Office, claiming novel nucleic acids and polypeptides from
a thermophilic bacteriophage, and uses thereof, invented jointly by employees of
IH and IE.

2. RESEARCH FUNDING AND PROJECTS.

As of year end 1999, IE had provided a total of USD 593.955 in research funding
for both IH and IN. IE will continue to provide USD 100.000 in research funding
per quarter for the Collaboration, according to quarterly operating and finance
plans that must be accepted in advance by IE. The parties have decided to expand
the Collaboration to include research on lichens and may decide to expand it to
other research projects.

3. INTELLECTUAL PROPERTY RIGHTS AND OWNERSHIP.

The parties agree that IE will own all patents, research data and other
intellectual property rights relating to the Collaboration, that have been
created and will be created during the term of this agreement. IH undertakes to
assign and have its employees assign all patent rights to IE.

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4. TERM AND GOVERNING LAW.

This agreement will remain in force until terminated by either party. Either
party may terminate this Agreement upon 90 days written notice to the other
party. This agreement shall be construed and governed by Icelandic law.

Reykjavik, December 28, 1999.

On behalf of Islensk erfdagreining ehf.

Kari Stefansson [SIGN]
Kari Stefansson

On behalf of Islenskar hveraorverur ehf.

Jakob Kristjansson [SIGN]
Jakob Kristjansson

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Appendix A.

AIM OF PROJECT 1: LONG-RANGE THERMOSTABLE DNA POLYMERASES

A major possibility lies in the development of thermophilic DNA polymerases for
accurate long-range PCR and long-range sequencing. Accurate in vitro synthesis
of long tracts of DNA as templates for sequencing and diagnosis is also an
attractive technique which is likely to gain wide acceptance. Thermophilic
counterparts of phage T7 DNA polymerase are likely to exhibit greater
processivity and fidelity than Taq DNA polymerase and other currently available
PCR enzymes. Through specific PCR-based gene fishing methods IT will discover a
range of new DNA polymerases that will be tested by deCODE for their in-house
applications.

AIM OF PROJECT 2: RESOLVASES FOR ENZYMATIC MUTATION DETECTION

Resolvases from mesophilic bacteriophages can recognize a single base mismatch
and subsequently cut one DNA strand. This property could be used as a basis for
improved and rapid mutation detection. Thermostable resolvases would allow more
stringent conditions and therefore more accurate recognition of the mismatches.
Currently no thermostable resolvase is known but thermophilic bacteriophages
such as those IT is working on are the most likely source. IT will select such
thermophilic bacteriophages and sequence their genomes (totally or in part) to
seek enzymes that can be used for mutation and SNP detection. The enzymes will
be cloned, produced and handed over to deCODE for testing in their in-house
applications.

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