Document:

Exhibit
10.1

LICENSE AGREEMENT

This License Agreement (“Agreement”) is effective and
entered into as of _____, 2006 (the “Effective Date”), by and between GE
Healthcare AS., (“GEHC”), a Norwegian corporation with offices at  Nycoveien 1-2 Postboks 4220 Nydalen, Oslo
Norway and Acusphere Inc. (“ACUS”) a Delaware corporation  with offices at 500 Arsenal St., Watertown,
MA 02472.  (GEHC and ACUS collectively “the
Parties”).

WHEREAS, GEHC owns certain patents relating to the
compositions, methods of preparing, and methods of use of ultrasound contrast
agents;

WHEREAS, ACUS is developing that certain ultrasound
contrast agent, AI-700, which is the subject of 
Investigational New Drug Application (“INDA”) with the U.S. Food and
Drug Administration;

WHEREAS, ACUS desires to obtain a non-exclusive
license to certain of GEHC’s patents.

 NOW, THEREFORE,
in consideration of the foregoing and the covenants, acknowledgements and
representations contained in this Agreement, the Parties hereby agree as
follows:

ARTICLE
I.  DEFINITIONS

1.1.          Definitions.  For purposes of this Agreement, the terms
defined here shall have the meanings specified below.  These terms are intended to encompass both
singular and plural forms.

1.1.1.                     “Affiliate” shall mean an
entity that directly, or indirectly through one or more intermediaries,
controls, or is controlled by, or is under common control with a Party.  Without limiting the generality of the
foregoing, “control” shall mean the ownership, directly or indirectly, of fifty
percent (50%) or more of the issued share capital or shares of stock entitled
to vote for the election of directors, in the case of a corporation, or fifty
percent (50%) or more of the equity interests in the case of any other entity
or the legal power to direct or cause the direction of the general management
and policies of the entity in question.

1.1.2.                     “AI-700” shall mean the
ultrasound contrast product currently under development by ACUS and for which
ACUS has filed an INDA.  The term “AI-700”
includes postapproval changes made to the product  in accordance with Section 506A of the
federal Food, Drug, and Cosmetic Act and Section 314.70 (21 CFR 314.70) as
recommended in the document: GUIDANCE FOR INDUSTRY, CHANGES TO AN APPROVED NDA
OR ANDA, April 2004, U.S. Department of Health 

 1
 

 

                                                and
Human Services, Food and Drug Administration, Center for Drug Evaluation and
research (CDER), April 2004, CMC, Revision 1.

1.1.3.                     “Field” shall mean
ultrasound diagnostic imaging in humans and animals.

1.1.4.                     “GEHC Licensed Patents”
shall mean (i) all present patents and patent applications worldwide that claim
the composition of, manufacture of, or methods of use of ultrasound contrast
agents, which are issued or pending as of the Effective Date, together with all
future patents and patent applications that claim priority (directly or
indirectly through other applications) to any patent or patent application
pending as of or before the Effective Date that are owned by or licensed to
GEHC or an Affiliate with a right to sublicense, including without limitation,
those listed on Exhibit A hereto and (ii) all patents and patent applications
worldwide that claim the composition of, manufacture of, or methods of use of
ultrasound contrast agents which GEHC or an Affiliate acquires (by license with
a right to sublicense, acquisition or otherwise (including by internal
invention)) within 12 months after the Effective Date.

1.1.5.                      “Territory” shall mean the
entire world except Japan, the People’s Republic of China, and the Republic of
Korea.

1.1.6.                     “Third Party” shall mean
any entity other than GEHC, ACUS, or their respective Affiliates.

ARTICLE II. 
LICENSE FROM GEHC TO ACUS

2.1.            Subject to the terms and obligations of this
Agreement GEHC hereby grants ACUS, and ACUS accepts, a nonexclusive license
under the GEHC Licensed Patents to make, use, sell, offer to sell, and import
AI-700 in the Field in the Territory.

2.2.          ACUS has the right
to grant distribution rights for AI-700 under the GEHC Licensed Patents and has
the limited right to grant sublicenses to manufacturers to manufacture AI-700
on behalf of ACUS, as well as to its distributors in connection with their
distribution rights.

2.3.          Other than the
limited right to sublicense granted in paragraph 2.2, ACUS does not have the
right to grant sublicenses.

2.4.          The Parties
acknowledge that nothing in this Agreement shall be construed to convey any
title or ownership rights to the GEHC Licensed Patents.  With the exception of the rights explicitly
granted in paragraphs 2.1 through 2.2, no license, or other right, title or
interest to or under the GEHC Licensed Patents is granted by implication,
estoppel or otherwise.

 2
 

 

 

2.5.          To the extent required by and in conformance
with any applicable laws, ACUS shall mark AI-700 with the numbers of the
applicable GEHC Licensed Patents.

ARTICLE
III.  RELEASE AND COVENANT NOT TO SUE

3.1.          GEHC hereby releases
ACUS and its current Affiliates from all claims, allegations, damages,
obligations, liabilities or expenses of any kind or nature that it may have
against any of them, subject to the limitation of paragraph 3.3.  This releases all claims and obligations
resulting from anything which has happened up to now, including claims of which
GEHC is not aware, and specifically including without limitation all claims or
infringement of GEHC Licensed Patents on account of the manufacture, use, sale,
offer for sale, and importation of AI-700 up to and including the Effective
Date.

3.2.          ACUS hereby releases
GEHC and its current Affiliates from all claims, allegations, damages, obligations,
liabilities or expenses of any kind or nature that it may have against any of
them.  This releases all claims and
obligations resulting from anything which has happened up to now, including
claims of which ACUS is not aware, and specifically including without
limitation all claims or infringement of any ACUS patent on account of the
manufacture, use, sale, offer for sale, and importation of ultrasound contrast
agents up to and including the Effective Date.

3.3.          None of the releases
above shall be construed in any way as being a release of any indebtedness to
any GEHC Affiliate under any loan agreement, security interest, agreement of
indebtedness, security interest, or other agreement for the loan of money,
extension of credit, provision of services, or sale or lease of goods.

3.4.          To the extent that
it may apply to Agreement, the parties waive any and all rights under
California Civil Code § 1542 (as well as any similar statute or law in any
other jurisdiction), which section has been duly explained to each of the
parties by their respective counsel, and which reads as follows: “A general
release does not extend to claims which the creditor does not know or suspect
to exist in his favor at the time of executing the release, which if known by
him must have materially affected his settlement with the debtor.”

3.5.          ACUS, for itself and
its current and future Affiliates, covenants not to sue GEHC or its Affiliates
for infringement of any patent on account of GEHC or its Affiliates’
manufacture, use, sale, or offer to sell of Optison or Sonazoid in the
Territory for use in the Field.  This
covenant shall extend to GEHC’s distributors and customers on account of their
purchase, sale, or use of Sonazoid or Optison in the Territory for use in the
Field.

3.6           GEHC, for itself and its current and
future Affiliates, covenants not to sue ACUS or its Affiliates for infringement
of any patent on account of ACUS or its Affiliates’ manufacture, use, sale, or
offer to sell AI-700 in the Territory for use in the Field.  This covenant shall extend to ACUS’s
distributors and customers on account of their purchase, sale, or use of AI-700
in the Territory for use in the Field.

 3
 

 

3.7           It
is the intention of the parties to settle current and potential intellectual
property disputes pertaining to the GEHC Licensed Patents and patents that ACUS
has in the Field. In that connection, the parties shall:

3.7.1.                     withdraw
all current oppositions brought against the other’s patents for the Field in
countries foreign to the United States;

3.7.2.                     refrain
from filing any future opposition or other challenge against the claims of each
other’s patents relating to Optison, Sonazoid or AI-700  in countries foreign to the United States;
and

3.7.3.                     refrain
from filing any requests for interference, reexamination, protest or other
challenge against the claims of each other’s patents relating Optison, Sonazoid
or AI-700  in the United States.

ARTICLE IV. 
FEES, PAYMENTS, WARRANTIES, INDEMNIFICATION

4.1.          In consideration of
the licenses and release granted in Section 3, ACUS shall make the following
payments to GEHC:

4.1.1.                     An upfront
license fee of $10,000,000 paid in two installments of:

a)     $5,000,000 within five business days after
execution of this Agreement.

b)    $5,000,000 on the first anniversary of the
Effective Date,

said fees to be non-contingent and
non-returnable.

4.1.2.                     A license fee
of $10,000,000 paid in two installments of:

a)     $5,000,000 within five business days after
the earlier of (i) receipt of regulatory approval by the U.S. Food and Drug
Administration to market AI-700 or (ii) the approval of a Marketing
Authorization Application in Europe related to AI-700.

b)    $5,000,000 upon the one year anniversary of
the payment set forth in paragraph 4.1.2(a),

said fees to
be non-returnable.

4.2.          All payments by ACUS
to GEHC shall be by wire transfer of same day federal funds to the following
account (or any alternative account which GEHC designates to ACUS prior to the
due date of any of the payments set forth in paragraph 4.1).

Bank Name: BNP Paribas
London Branch

Name on Account: 
Amersham Health AS

 4
 

 

SWIFT-BIC: BNPAGB22

IBAN: GS89 BNPA23463574
375010

Account No.  
09678 074375 00191

4.3.          Any payments made under Section 4 of
this Agreement are inclusive of any tax imposed upon such payments.  In addition, in the event any of the payments
made by ACUS pursuant to Section 4 are subject to withholding taxes under
the laws of any jurisdiction, ACUS shall consult GEHC in advance and take all
reasonable actions, on a timely basis, to reduce the level of withholding to
the minimum permitted under the laws of the jurisdiction having regard to the
terms of any relevant double tax treaty. Should a withholding tax still be due,
such amounts payable to GEHC shall be reduced by the amount of taxes deducted
and withheld, and ACUS shall pay the amounts of such taxes to the proper
governmental authority in a timely manner and promptly transmit to GEHC an
official tax certificate or other evidence of such tax obligations together
with proof of payment from the relevant governmental authority of all amounts
deducted and withheld sufficient to enable GEHC to claim such payment of
taxes.  ACUS will provide GEHC with
reasonable assistance to enable GEHC to recover such taxes as permitted by law.

4.4.          All payments under any provision of
this Agreement shall bear interest from the date due until paid at a rate equal
to the lesser of (i) five percentage points above the prime rate of Citibank, N.A. (or its successor) in New
York, New York, as announced on the date such payment was due, or (ii)
the highest amount allowable by law, compounded monthly.  In addition, ACUS shall reimburse GEHC for
all reasonable costs and expenses, including without limitation reasonable
attorneys’ fees and legal expenses, incurred in the collection of late or
missed payments.

4.5.          Each Party shall bear its own costs
and expenses, including, without limitation, its attorneys fees, relating to
any action to be taken or having been taken in respect to this Agreement.

4.6.          Each Party makes the following
warranties and representations to the other Party:

4.6.1.                     each Party is a corporation duly
organized and validly existing and in good standing under the laws of the state
or country in which it is organized and has all requisite power and authority
to enter into and perform this Agreement and the transactions contemplated
hereby and to require its Affiliates to abide by its terms and conditions;

4.6.2.                     all requisite corporate action on
the part of each Party has been completed for the authorization of the
execution and delivery of this Agreement and the performance of the transaction
contemplated hereunder;

 5
 

 

4.6.3.                     this Agreement is, and such other
transactions will be, valid and binding obligations of each Party enforceable
in accordance with their respective terms; and

4.6.4.                     the execution, delivery and
performance of this Agreement and the consummation of transactions contemplated
hereby do not and will not violate the provisions of any Party’s certificate of
incorporation or bylaws or similar type documents or the provisions of any
note, indenture, lease, license permit or other instrument or obligation or
violate any law, order, rule or regulation applicable to it.

4.7.          Nothing in this Agreement shall be construed as a warranty
or representation by GEHC as to the validity of any GEHC Licensed Patent or
that AI-700 is free from infringement of domestic or foreign patents or other
proprietary interests of other parties. GEHC IS LICENSING THE GEHC LICENSED
PATENTS TO ACUS ON AN “AS IS” BASIS. 
GEHC MAKES NO WARRANTIES EITHER EXPRESS OR IMPLIED OF ANY KIND, AND
HEREBY EXPRESSLY DISCLAIMS ANY WARRANTIES, REPRESENTATIONS OR GUARANTEES OF ANY
KIND AS TO THE GEHC LICENSED PATENTS, THE SUBJECT OF ANY LICENSE HEREUNDER
AND/OR ANY PRODUCTS, INCLUDING BUT NOT LIMITED TO, ANY WARRANTIES OF
MERCHANTABILITY, FITNESS, ADEQUACY OR SUITABILITY FOR A PARTICULAR PURPOSE, USE
OR RESULT, AND ANY WARRANTIES OF FREEDOM OF INFRINGEMENT OF ANY PATENTS,
COPYRIGHTS, TRADE SECRETS OR OTHER PROPRIETARY RIGHTS.  NEITHER GEHC, NOR ANY EMPLOYEE OR AGENT OF
GEHC, SHALL HAVE ANY LIABILITY TO ACUS, ITS AFFILIATES, OR SUBLICENSEES, OR ANY
OTHER PERSON ARISING OUT OF THE USE OF GEHC LICENSED PATENTS OR PRODUCTS
INCLUDING BUT NOT LIMITED TO THE LACK OF MERCHANTABILITY, INADEQUACY OR
UNSUITABILITY OF THE GEHC LICENSED PATENTS OR PRODUCTS FOR ANY PARTICULAR
PURPOSE OR TO PRODUCE ANY PARTICULAR RESULT, OR FOR ANY LATENT DEFECTS THEREIN.

4.8.          ACUS shall indemnify
and hold GEHC and its Affiliates harmless against any and all third-party
actions, suits, claims, demands, prosecutions, liabilities, costs, expenses,
damages, deficiencies, loss or obligations (including reasonable attorneys’
fees) based on or arising out of this Agreement, including, without limitation,
(i) the development, manufacture, packaging, use, or sale of AI-700 (ii) the
practice of the GEHC Licensed Patents by ACUS, its Affiliates, its Sublicensees
or its (or their) customers and (iii) any representation made or warranty given
by ACUS, its Affiliates with respect to GEHC Licensed Patents or AI-700.

4.9.          ACUS shall maintain, during the term of this
Agreement, commercial general liability insurance, including product liability
insurance, with reputable and financially secure insurance carriers, on
commercially reasonable and prudent terms and limits.

4.10.        ACUS and its current and future Affiliates
shall not directly or indirectly challenge or induce any Third Party to
challenge the validity or enforceability of the GEHC Licensed Patents, or any
patent claim(s) therein, or initiate or participate in any re-examination or
other proceeding related to the validity, enforceability or patentability of
any 

 6
 

 

claim
of the GEHC Licensed Patents before any tribunal or patent office.  This section shall not prohibit ACUS and its
Affiliates from responding to a subpoena, process, or discovery requests in any
litigation or administrative proceeding provided that ACUS gives prompt notice
to GEHC of the receipt of said subpoena, process or discovery requests.

ARTICLE V. 
DURATION

5.1.          The term of the licenses
granted by GEHC shall be until the last to expire of the GEHC Licensed Patents.

ARTICLE
VI.  CONFIDENTIALITY

6.1.          No
Party shall disclose the contents of this Agreement to any other person or
entity and each Party shall retain in confidence the terms and conditions of
this Agreement, except as necessary to comply with law or the valid order of a
court or agency of competent jurisdiction of a state or federal authority; or
to the extent necessary in any action, suit or proceeding to enforce this Agreement;
or to their respective Affiliates, banks, auditors, accountants, lawyers, and
any other representative of a Party who has a good faith need to know, provided
that any such person or entity to whom disclosure is made must be advised of
the confidentiality of the information disclosed and agree to keep such
information confidential.

6.2.          No public statements
of any kind pertaining to this Agreement may be made except as required by law,
such as that enforced by the Securities Exchange Commission of the United
States of America, unless the parties otherwise mutually agree in writing.  Attached hereto as Exhibit __is a form of
press release that the parties agree shall be issued by ACUS  promptly after the execution of this
Agreement.

ARTICLE VII. 
MISCELLANEOUS

7.1.          Notice:  All notices or communications required
pursuant to this Agreement shall be in writing and shall be deemed to have been
duly given upon the date of receipt if delivered by hand, international
overnight courier, confirmed facsimile transmission, or registered or certified
mail (return receipt requested, postage prepaid) to the following addresses or
facsimile numbers:

	
  For GEHC:

  	
   

  	
   

  	
  GE Healthcare AS.

  	
   

  
	
   

  	
  c/o GE
  Healthcare

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Nycoveien 1-2
  Postboks 4220

  	
   

  
	
   

  	
  Nycalen, Oslo
  Norway

  	
   

  
	
   

  	
  Attn: General
  Counsel

  	
   

  
	
   

  	
  Fax:
  47-2222-9865

  	
   

  
	
   

  	
   

  	
   

  
	
  For ACUS:

  	
   

  	
   

  	
  Sherri Oberg

  	
   

  	
   

  	
   

  
	
   

  	
  Acusphere Inc.

  	
   

  	
   

  	
   

  
	
   

  	
  500 Arsenal Street

  	
   

  	
   

  	
   

  
													

 

 7
 

 

 

	
  

  	
  Watertown, MA 02472

  	
   

  	
   

  	
   

  
	
   

  	
  FAX 617-926-3605

  	
   

  	
   

  	
   

  
							

 

7.2.          Choice of Law and
Forum:  The Parties agree that this
Agreement shall be governed by the laws of the State of New York without
reference to its conflict of laws principles. 
Any legal action or proceeding arising out of or in connection with this
Agreement or other aspect of the Parties’ relationship shall be brought only in
the state or federal courts located in New York County, New York, and each
Party hereby consents to the jurisdiction of such courts for any such matter.

7.3.          Entire Agreement:  This Agreement sets forth all the licenses, covenants,
promises, agreements, warranties, representations, conditions, and
understandings between the Parties hereto and supersede all prior agreements
and understandings between the Parties relating to the subject matter hereof.  This Agreement, including, without
limitation, the Exhibits attached hereto, is intended to define the full extent
of the legally enforceable undertakings of the Parties hereto.

7.4.          Severability:  In the event that any provision of this
Agreement shall, for any reason, be held to be invalid or unenforceable in any
respect, such invalidity or unenforceability shall not affect any other
provision hereof, and the Parties shall negotiate in good faith to modify the
Agreement to preserve their original intent.

7.5.          Amendment and Waiver:  This Agreement may be amended, supplemented,
or otherwise modified only by means of a written instrument signed by all
Parties.  Any waiver of any rights or
failure to act in a specific instance shall relate only to such instance and
shall not be construed as an agreement to waive any rights or fail to act in
any other instance, whether or not similar.

7.6.          Breach and Cure: 
Either party shall have the right to cure its material breach.  The cure shall be effected within a
reasonable period of time but in no event later than twenty (20) days after
notice of any breach given by the non-breaching party, or five (5) business
days in the event of a payment obligation.

7.7.          Headings:  The sections and paragraphs headings
contained herein are for the purposes of convenience only and are not intended
to define or limit the contents of said sections or paragraphs.

7.8.          Counterparts:  This Agreement may be signed in counterpart,
each of which shall be deemed to be an original.  Signatures shall be provided by facsimile
transmission, with original signatures following by mail.

7.9.          Assignment:  ACUS may not assign this Agreement nor the
licenses granted herein to any Third Party unless said assignment is to a
successor by merger, acquisition, or corporate reorganization, and/or in
connection with the sale or other disposition by license, joint venture or
otherwise of the entire business unit or product(s) to which this Agreement
pertains and assignee must agree to the terms of this Agreement on behalf of
itself and its Affiliates, including but not limited to the provisions of  paragraphs 3.5 and 4.10.  For 

 8
 

 

avoidance of doubt, the release of paragraph 3.1 shall not extend to
the assignee’s business or assets other than those acquired from ACUS.

7.10.        Subsequent Acquisitions:  If, after the Effective Date, ACUS or an
Affiliate either acquires an entity or acquires substantially all of the assets
from an entity, and said entity is, immediately prior to the date of
acquisition, licensed by the other party (“Licensor”) under one or more GEHC
Licensed Patents through an existing agreement pursuant to which royalties or
other payments are made by said entity to Licensor, then the license and other
rights granted herein to the Acquiring Party with respect to said GEHC Licensed
Patents shall apply to products manufactured by said entity or through the use
of said assets, provided that such royalties or other payments shall continue
to be made by the Acquiring Party or said entity to the Licensor with respect
to such products notwithstanding that the Acquiring Party may have been
licensed for the same products before the acquisition.  For avoidance of doubt, the release of
paragraph 3.1 shall not extend to any entity whose assets are acquired or
substantially acquired by ACUS.

IN WITNESS WHEREOF, the undersigned Parties have duly
executed and delivered this Agreement as of the date first written above.

	
  GE Healthcare AS.

  	
   

  	
  Acusphere, Inc.

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
   

  	
   

  	
  Date:

  	
   

  
	
   

  	
   

  	
   

  
							

 

 

 9

 

SCHEDULE A

	
  Title

  	
   

  	
   

  	
   

  	
  Country

  	
   

  	
  Patent No.

  	
   

  	
  Application No.

  
	
  Diagnostic and contrast
  agent

  	
   

  	
  US

  	
   

  	
  5618514

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  6544496

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  5670135

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  IMPROVEMENTS IN OR
  RELATING TO CONTRAST AGENTS

  	
   

  	
  CH

  	
   

  	
  0576519

  	
   

  	
   

  
	
   

  	
   

  	
  DE

  	
   

  	
  69231794.5

  	
   

  	
   

  
	
   

  	
   

  	
  ES

  	
   

  	
  2156109

  	
   

  	
   

  
	
   

  	
   

  	
  FR

  	
   

  	
  0576519

  	
   

  	
   

  
	
   

  	
   

  	
  GB

  	
   

  	
  0576519

  	
   

  	
   

  
	
   

  	
   

  	
  HK

  	
   

  	
  1004980

  	
   

  	
   

  
	
   

  	
   

  	
  IT

  	
   

  	
  0576519

  	
   

  	
   

  
	
   

  	
   

  	
  NO

  	
   

  	
   

  	
   

  	
  19933431

  
	
   

  	
   

  	
  US

  	
   

  	
  5536490

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
   

  	
   

  	
  08/470044

  
	
   

  	
   

  	
  US

  	
   

  	
  6106806

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  5567413

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
   

  	
   

  	
  10/449832

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  IMPROVEMENTS IN OR
  RELATING TO CONTRAST AGENTS

  	
   

  	
  DE

  	
   

  	
  0831926

  	
   

  	
   

  
	
   

  	
   

  	
  EP

  	
   

  	
  0831926

  	
   

  	
   

  
	
   

  	
   

  	
  ES

  	
   

  	
  0831926

  	
   

  	
   

  
	
   

  	
   

  	
  FR

  	
   

  	
  0831926

  	
   

  	
   

  
	
   

  	
   

  	
  GB

  	
   

  	
  0831926

  	
   

  	
   

  
	
   

  	
   

  	
  IT

  	
   

  	
  0831926

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  6217850

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  IMPROVEMENTS IN OR
  RELATING TO CONTRAST AGENTS

  	
   

  	
  AT

  	
   

  	
  E238072

  	
   

  	
   

  
	
   

  	
   

  	
  AU

  	
   

  	
  726503

  	
   

  	
   

  
	
   

  	
   

  	
  BR

  	
   

  	
   

  	
   

  	
  PI1100844.0

  
	
   

  	
   

  	
  CZ

  	
   

  	
  293986

  	
   

  	
   

  
	
   

  	
   

  	
  DE

  	
   

  	
  0881915

  	
   

  	
   

  
	
   

  	
   

  	
  EP

  	
   

  	
  0881915

  	
   

  	
   

  
	
   

  	
   

  	
  ES

  	
   

  	
  0881915

  	
   

  	
   

  
	
   

  	
   

  	
  FR

  	
   

  	
  0881915

  	
   

  	
   

  
	
   

  	
   

  	
  GB

  	
   

  	
  0881915

  	
   

  	
   

  
	
   

  	
   

  	
  HK

  	
   

  	
  HK1014872

  	
   

  	
   

  
	
   

  	
   

  	
  IE

  	
   

  	
  0881915

  	
   

  	
   

  
	
   

  	
   

  	
  IL

  	
   

  	
  125748

  	
   

  	
   

  
	
   

  	
   

  	
  IT

  	
   

  	
  0881915

  	
   

  	
   

  
	
   

  	
   

  	
  NL

  	
   

  	
  0881915

  	
   

  	
   

  

 

 10
 

 

 

	
   

  	
   

  	
  NO

  	
   

  	
  318875

  	
   

  	
   

  
	
   

  	
   

  	
  PH

  	
   

  	
  1997-55604

  	
   

  	
   

  
	
   

  	
   

  	
  PT

  	
   

  	
  0881915

  	
   

  	
   

  
	
   

  	
   

  	
  RU

  	
   

  	
  001135

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  6221337

  	
   

  	
   

  
	
   

  	
   

  	
  ZA

  	
   

  	
  97/1408

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  THERMALLY STABILIZED
  CONTRAST AGENT

  	
   

  	
  DE

  	
   

  	
  0885016

  	
   

  	
   

  
	
   

  	
   

  	
  EP

  	
   

  	
  0885016

  	
   

  	
   

  
	
   

  	
   

  	
  ES

  	
   

  	
  0885016

  	
   

  	
   

  
	
   

  	
   

  	
  FR

  	
   

  	
  0885016

  	
   

  	
   

  
	
   

  	
   

  	
  GB

  	
   

  	
  0885016

  	
   

  	
   

  
	
   

  	
   

  	
  IT

  	
   

  	
  0885016

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  6165442

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  6562320

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  PROCESS FOR PREPARATION
  OF VESICLES

  	
   

  	
  DE

  	
   

  	
  69806020.2

  	
   

  	
   

  
	
   

  	
   

  	
  DE

  	
   

  	
  1007102

  	
   

  	
   

  
	
   

  	
   

  	
  EP

  	
   

  	
  1005391

  	
   

  	
   

  
	
   

  	
   

  	
  EP

  	
   

  	
  1007102

  	
   

  	
   

  
	
   

  	
   

  	
  GB

  	
   

  	
  1007102

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  6444193

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  6509004

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  IMPROVEMENTS IN OR
  RELATING TO CONTRAST AGENTS

  	
   

  	
  AT

  	
   

  	
  0576521

  	
   

  	
   

  
	
   

  	
   

  	
  AU

  	
   

  	
  701817

  	
   

  	
   

  
	
   

  	
   

  	
  BE

  	
   

  	
  0576521

  	
   

  	
   

  
	
   

  	
   

  	
  CA

  	
   

  	
  2107107

  	
   

  	
   

  
	
   

  	
   

  	
  CH

  	
   

  	
  0576521

  	
   

  	
   

  
	
   

  	
   

  	
  DE

  	
   

  	
  P69222037.2

  	
   

  	
   

  
	
   

  	
   

  	
  DK

  	
   

  	
  0576521

  	
   

  	
   

  
	
   

  	
   

  	
  EP

  	
   

  	
  0576521

  	
   

  	
   

  
	
   

  	
   

  	
  ES

  	
   

  	
  2106857

  	
   

  	
   

  
	
   

  	
   

  	
  FI

  	
   

  	
   

  	
   

  	
  934227

  
	
   

  	
   

  	
  FR

  	
   

  	
  0576521

  	
   

  	
   

  
	
   

  	
   

  	
  GB

  	
   

  	
  0576521

  	
   

  	
   

  
	
   

  	
   

  	
  GR

  	
   

  	
  20040401146

  	
   

  	
   

  
	
   

  	
   

  	
  HK

  	
   

  	
  1002624

  	
   

  	
   

  
	
   

  	
   

  	
  IE

  	
   

  	
  82203

  	
   

  	
   

  
	
   

  	
   

  	
  IT

  	
   

  	
  0576521

  	
   

  	
   

  
	
   

  	
   

  	
  LU

  	
   

  	
  0576521

  	
   

  	
   

  
	
   

  	
   

  	
  MC

  	
   

  	
  0576521

  	
   

  	
   

  
	
   

  	
   

  	
  NL

  	
   

  	
  0576521

  	
   

  	
   

  
	
   

  	
   

  	
  NO

  	
   

  	
  307448

  	
   

  	
   

  
	
   

  	
   

  	
  SE

  	
   

  	
  0576521

  	
   

  	
   

  

 

 11
 

 

 

	
   

  	
   

  	
  US

  	
   

  	
  5529766

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
   

  	
   

  	
  11/055543

  

 

 12
 

 

 

	
  METHOD FOR INFUSION OF
  ULTRASOUND

  	
   

  	
  AU

  	
   

  	
  770389

  	
   

  	
   

  
	
  CONTRAST AGENTS

  	
   

  	
  DE

  	
   

  	
  60006683.5

  	
   

  	
   

  
	
   

  	
   

  	
  EP

  	
   

  	
  1206286

  	
   

  	
   

  
	
   

  	
   

  	
  ES

  	
   

  	
  1206286

  	
   

  	
   

  
	
   

  	
   

  	
  FR

  	
   

  	
  1206286

  	
   

  	
   

  
	
   

  	
   

  	
  GB

  	
   

  	
  1206286

  	
   

  	
   

  
	
   

  	
   

  	
  IT

  	
   

  	
  1206286

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  CONTRATED STABILIZED
  MICROBUBBLE-TYPE ULTRASONIC IMAGING AGENT AND METHOD OF PRODUCTION

  	
   

  	
  US

  	
   

  	
   

  	
   

  	
  139577

  
	
   

  	
   

  	
  DK

  	
   

  	
  173528

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  4844882

  	
   

  	
   

  
	
   

  	
   

  	
  AU

  	
   

  	
  603718

  	
   

  	
   

  
	
   

  	
   

  	
  AT

  	
   

  	
  0324938

  	
   

  	
   

  
	
   

  	
   

  	
  BE

  	
   

  	
  0324938

  	
   

  	
   

  
	
   

  	
   

  	
  DE

  	
   

  	
  P3885730.8

  	
   

  	
   

  
	
   

  	
   

  	
  CH

  	
   

  	
  0324938

  	
   

  	
   

  
	
   

  	
   

  	
  FR

  	
   

  	
  0324938

  	
   

  	
   

  
	
   

  	
   

  	
  GB

  	
   

  	
  0324938

  	
   

  	
   

  
	
   

  	
   

  	
  IT

  	
   

  	
  0324938

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  METHODS FOR SELECTING
  AND USING GASES AS ULTRASOUND CONTRAST MEDIA

  	
   

  	
  AT

  	
   

  	
  E191346

  	
   

  	
   

  
	
   

  	
   

  	
  AU

  	
   

  	
   

  	
   

  	
  2006200108

  
	
   

  	
   

  	
  BE

  	
   

  	
  0605477

  	
   

  	
   

  
	
   

  	
   

  	
  BR

  	
   

  	
  PI1100168.2

  	
   

  	
   

  
	
   

  	
   

  	
  BR

  	
   

  	
  PI1100167.4

  	
   

  	
   

  
	
   

  	
   

  	
  CA

  	
   

  	
  2119129

  	
   

  	
   

  
	
   

  	
   

  	
  CA

  	
   

  	
  2273140

  	
   

  	
   

  
	
   

  	
   

  	
  CH

  	
   

  	
  0605477

  	
   

  	
   

  
	
   

  	
   

  	
  CL

  	
   

  	
  40380

  	
   

  	
   

  
	
   

  	
   

  	
  CZ

  	
   

  	
  286149

  	
   

  	
   

  
	
   

  	
   

  	
  DE

  	
   

  	
  69230885

  	
   

  	
   

  
	
   

  	
   

  	
  DK

  	
   

  	
  0605477

  	
   

  	
   

  
	
   

  	
   

  	
  ES

  	
   

  	
  0605477

  	
   

  	
   

  
	
   

  	
   

  	
  FI

  	
   

  	
   

  	
   

  	
  941242

  
	
   

  	
   

  	
  FR

  	
   

  	
  0605477

  	
   

  	
   

  
	
   

  	
   

  	
  GB

  	
   

  	
  0605477

  	
   

  	
   

  
	
   

  	
   

  	
  GR

  	
   

  	
  3033908

  	
   

  	
   

  

 

 13
 

 

 

	
   

  	
   

  	
  HK

  	
   

  	
  HK1012564

  	
   

  	
   

  
	
   

  	
   

  	
  HU

  	
   

  	
  218018

  	
   

  	
   

  
	
   

  	
   

  	
  ID

  	
   

  	
  ID0014883

  	
   

  	
   

  
	
   

  	
   

  	
  IE

  	
   

  	
  0605477

  	
   

  	
   

  
	
   

  	
   

  	
  IL

  	
   

  	
  103120

  	
   

  	
   

  
	
   

  	
   

  	
  IT

  	
   

  	
  0605477

  	
   

  	
   

  
	
   

  	
   

  	
  LU

  	
   

  	
  0605477

  	
   

  	
   

  
	
   

  	
   

  	
  MC

  	
   

  	
  0605477

  	
   

  	
   

  
	
   

  	
   

  	
  MX

  	
   

  	
  182912

  	
   

  	
   

  
	
   

  	
   

  	
  MY

  	
   

  	
  MY/111060

  	
   

  	
   

  
	
   

  	
   

  	
  NL

  	
   

  	
  0605477

  	
   

  	
   

  
	
   

  	
   

  	
  NO

  	
   

  	
  313577

  	
   

  	
   

  
	
   

  	
   

  	
  NZ

  	
   

  	
  244341

  	
   

  	
   

  
	
   

  	
   

  	
  PL

  	
   

  	
  173817

  	
   

  	
   

  
	
   

  	
   

  	
  PT

  	
   

  	
  100867

  	
   

  	
   

  
	
   

  	
   

  	
  RU

  	
   

  	
  2114637

  	
   

  	
   

  
	
   

  	
   

  	
  SE

  	
   

  	
  0605477

  	
   

  	
   

  
	
   

  	
   

  	
  SG

  	
   

  	
  54121

  	
   

  	
   

  
	
   

  	
   

  	
  TW

  	
   

  	
  63126

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  5573751

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  5393524

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  5409688

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  5558094

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  6723303

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  5558854

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  6156292

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  6875420

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  6620404

  	
   

  	
   

  
	
   

  	
   

  	
  ZA

  	
   

  	
  92/7114

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ULTRASOUND IMAGING OF
  TISSUE PERFUSION BY PULSE ENERGY DISRUPTION

  	
   

  	
  US

  	
   

  	
  6315730

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  IMPROVEMENTS IN OR
  RELATING TO CONTRAST AGENTS

  	
   

  	
  US

  	
   

  	
  6595925

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ULTRASONOGRAPHY OF THE
  PROSTATE

  	
   

  	
  DE

  	
   

  	
  69831353.4

  	
   

  	
   

  
	
   

  	
   

  	
  EP

  	
   

  	
  1039833

  	
   

  	
   

  
	
   

  	
   

  	
  ES

  	
   

  	
  1039833

  	
   

  	
   

  
	
   

  	
   

  	
  FR

  	
   

  	
  1039833

  	
   

  	
   

  
	
   

  	
   

  	
  GB

  	
   

  	
  1039833

  	
   

  	
   

  
	
   

  	
   

  	
  IT

  	
   

  	
  1039833

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  6428479

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  6689065

  	
   

  	
   

  

 

 14
 

 

 

	
  IMPROVEMENTS IN OR
  RELATING TO ULTRASONOGRAPHY

  	
   

  	
  US

  	
   

  	
  6409671

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  PHASE SHIFT COLLOIDS AS
  ULTRASOUND CONTRAST AGENTS

  	
   

  	
  AU

  	
   

  	
  680652

  	
   

  	
   

  
	
   

  	
   

  	
  AU

  	
   

  	
  710508

  	
   

  	
   

  
	
   

  	
   

  	
  CA

  	
   

  	
  2154590

  	
   

  	
   

  
	
   

  	
   

  	
  DE

  	
   

  	
  0680341

  	
   

  	
   

  
	
   

  	
   

  	
  EP

  	
   

  	
  0680341

  	
   

  	
   

  
	
   

  	
   

  	
  ES

  	
   

  	
  0680341

  	
   

  	
   

  
	
   

  	
   

  	
  FR

  	
   

  	
  0680341

  	
   

  	
   

  
	
   

  	
   

  	
  GB

  	
   

  	
  0680341

  	
   

  	
   

  
	
   

  	
   

  	
  IT

  	
   

  	
  0680341

  	
   

  	
   

  
	
   

  	
   

  	
  PL

  	
   

  	
  176870

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  5595723

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  5707607

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  5876696

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  5558853

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  6569404

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  6245319

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  5558855

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  5707606

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  GAS-FILLED MICROSPHERES
  WITH FLUORINE-CONTAINING SHELLS

  	
   

  	
  AU

  	
   

  	
  703652

  	
   

  	
   

  
	
   

  	
   

  	
  CA

  	
   

  	
   

  	
   

  	
  2196599

  
	
   

  	
   

  	
  DE

  	
   

  	
  0769969

  	
   

  	
   

  
	
   

  	
   

  	
  EP

  	
   

  	
  0769969

  	
   

  	
   

  
	
   

  	
   

  	
  ES

  	
   

  	
  0769969

  	
   

  	
   

  
	
   

  	
   

  	
  FR

  	
   

  	
  0769969

  	
   

  	
   

  
	
   

  	
   

  	
  GB

  	
   

  	
  0769969

  	
   

  	
   

  
	
   

  	
   

  	
  IT

  	
   

  	
  0769969

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  5562893

  	
   

  	
   

  

 

 15
 

 

 

	
  USE OF PRESSURE
  RESISTANT PROTEIN MICROSPHERES ENCAPSULATING GASES AS ULTRASONIC IMAGING
  AGENTS FOR VASCULAR PERFUSION

  	
   

  	
  CA

  	
   

  	
   

  	
   

  	
  2253734

  
	
   

  	
   

  	
  DE

  	
   

  	
  69732568.7

  	
   

  	
   

  
	
   

  	
   

  	
  EP

  	
   

  	
  0907380

  	
   

  	
   

  
	
   

  	
   

  	
  ES

  	
   

  	
  0907380

  	
   

  	
   

  
	
   

  	
   

  	
  FR

  	
   

  	
  0907380

  	
   

  	
   

  
	
   

  	
   

  	
  GB

  	
   

  	
  0907380

  	
   

  	
   

  
	
   

  	
   

  	
  IT

  	
   

  	
  0907380

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  5976501

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SENTINEL LYMPH NODE
  DETECTION

  	
   

  	
  AU

  	
   

  	
   

  	
   

  	
  2003272154

  
	
   

  	
   

  	
  US

  	
   

  	
   

  	
   

  	
  10/530094

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  CONTRAST AGENTS FOR
  ULTRASONIC IMAGING

  	
   

  	
  AT

  	
   

  	
  0224934

  	
   

  	
   

  
	
   

  	
   

  	
  AU

  	
   

  	
  575735

  	
   

  	
   

  
	
   

  	
   

  	
  BE

  	
   

  	
  0224934

  	
   

  	
   

  
	
   

  	
   

  	
  CA

  	
   

  	
  1274773

  	
   

  	
   

  
	
   

  	
   

  	
  CH

  	
   

  	
  0224934

  	
   

  	
   

  
	
   

  	
   

  	
  DE

  	
   

  	
  0224934

  	
   

  	
   

  
	
   

  	
   

  	
  EP

  	
   

  	
  0224934

  	
   

  	
   

  
	
   

  	
   

  	
  FR

  	
   

  	
  0224934

  	
   

  	
   

  
	
   

  	
   

  	
  GB

  	
   

  	
  0224934

  	
   

  	
   

  
	
   

  	
   

  	
  IT

  	
   

  	
  0224934

  	
   

  	
   

  
	
   

  	
   

  	
  NL

  	
   

  	
  0224934

  	
   

  	
   

  
	
   

  	
   

  	
  SE

  	
   

  	
  0224934

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  CONTRAST AGENTS
  CONSISTING OF GALACTOSE PARTICLES AND AN AMPHIPHILIC CARBOXYLIC ACID

  	
   

  	
  DE

  	
   

  	
  P69319888.5

  	
   

  	
   

  
	
   

  	
   

  	
  EP

  	
   

  	
  0620743

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  5567412

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  5614169

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  IMPROVEMENTS IN OR RELATING
  TO CONTRAST AGENTS

  	
   

  	
  CA

  	
   

  	
  2127705

  	
   

  	
   

  

 

 16
 

 

 

	
   

  	
   

  	
  EP

  	
   

  	
   

  	
   

  	
  99203253.2

  
	
   

  	
   

  	
  US

  	
   

  	
  5558856

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  5827502

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
   

  	
   

  	
  11/055544

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  IMPROVEMENTS IN
  CONTRAST AGENTS, CONSISTING OF GALACTOSE PARTICLES

  	
   

  	
  US

  	
   

  	
  5637289

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  5648062

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  5928626

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  IMPROVEMENTS IN OR
  RELATING TO CONTRAST AGENTS

  	
   

  	
  DE

  	
   

  	
  P69326447.0

  	
   

  	
   

  
	
   

  	
   

  	
  EP

  	
   

  	
  0627942

  	
   

  	
   

  
	
   

  	
   

  	
  GB

  	
   

  	
  0627942

  	
   

  	
   

  
	
   

  	
   

  	
  IT

  	
   

  	
  0627942

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  5795562

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  5674468

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  5676925

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  IMPROVEMENTS IN OR
  RELATING TO CONTRAST AGENTS

  	
   

  	
  US

  	
   

  	
  5718884

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  IMPROVEMENTS IN OR
  RELATING TO CONTRAST AGENTS

  	
   

  	
  DE

  	
   

  	
  P69425136.4

  	
   

  	
   

  
	
   

  	
   

  	
  EP

  	
   

  	
  0689461

  	
   

  	
   

  

 

 17
 

 

 

	
  MEDICAL USE OF ORGANIC
  AEROGELS AND BIODEGRADABLE ORGANIC AEROGELS

  	
   

  	
  DE

  	
   

  	
  69425573.4

  	
   

  	
   

  
	
   

  	
   

  	
  EP

  	
   

  	
  0707474

  	
   

  	
   

  
	
   

  	
   

  	
  GB

  	
   

  	
  0707474

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  POLYMERIC
  SURFACTANT-ENCAPSULATED MICROBUBBLES AND THEIR USE IN ULTRASOUND IMAGING

  	
   

  	
  DE

  	
   

  	
  69430432.8

  	
   

  	
   

  
	
   

  	
   

  	
  EP

  	
   

  	
  0717658

  	
   

  	
   

  
	
   

  	
   

  	
  ES

  	
   

  	
  0717658

  	
   

  	
   

  
	
   

  	
   

  	
  FR

  	
   

  	
  0717658

  	
   

  	
   

  
	
   

  	
   

  	
  GB

  	
   

  	
  0717658

  	
   

  	
   

  
	
   

  	
   

  	
  IT

  	
   

  	
  0717658

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  5919434

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  5990263

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  IMPROVEMENTS IN OR
  RELATING TO CONTRAST AGENTS

  	
   

  	
  US

  	
   

  	
  6274120

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  IMPROVEMENTS IN OR
  RELATING TO CONTRAST AGENTS

  	
   

  	
  DE

  	
   

  	
  69526093.6

  	
   

  	
   

  
	
   

  	
   

  	
  EP

  	
   

  	
  0779821

  	
   

  	
   

  
	
   

  	
   

  	
  ES

  	
   

  	
  0779821

  	
   

  	
   

  
	
   

  	
   

  	
  FR

  	
   

  	
  0779821

  	
   

  	
   

  
	
   

  	
   

  	
  GB

  	
   

  	
  0779821

  	
   

  	
   

  
	
   

  	
   

  	
  IT

  	
   

  	
  0779821

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  IMPROVEMENTS IN OR
  RELATING TO ULTRASOUND IMAGING

  	
   

  	
  US

  	
   

  	
  5980460

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  5601085

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  IMPROVEMENTS IN OR
  RELATING TO DIAGNOSTIC/THERAPEUTIC AGENTS

  	
   

  	
  EP

  	
   

  	
  0973552

  	
   

  	
   

  
	
   

  	
   

  	
  GB

  	
   

  	
  0973552

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  6264917

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  6261537

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
   

  	
   

  	
  10/722075

  

 

 18
 

 

 

	
  IMPROVEMENTS IN OR
  RELATING TO DIAGNOSTIC/THERAPEUTIC AGENTS

  	
   

  	
  US

  	
   

  	
  6331289

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  6680047

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  CONTRAST AGENTS CONTAINING
  TWO TYPES OF GAS FILLED MICROBUBBLES

  	
   

  	
  US

  	
   

  	
  6054118

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  IMPROVEMENTS IN OR
  RELATING TO DIAGNOSTIC/THERAPEUTIC AGENTS

  	
   

  	
  US

  	
   

  	
  6548048

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  IMPROVEMENTS IN OR
  RELATING TO CONTRAST AGENTS

  	
   

  	
  AU

  	
   

  	
  745047

  	
   

  	
   

  
	
   

  	
   

  	
  DE

  	
   

  	
  1007100

  	
   

  	
   

  
	
   

  	
   

  	
  EP

  	
   

  	
  1007100

  	
   

  	
   

  
	
   

  	
   

  	
  ES

  	
   

  	
  1007100

  	
   

  	
   

  
	
   

  	
   

  	
  FR

  	
   

  	
  1007100

  	
   

  	
   

  
	
   

  	
   

  	
  GB

  	
   

  	
  1007100

  	
   

  	
   

  
	
   

  	
   

  	
  HU

  	
   

  	
  224218

  	
   

  	
   

  
	
   

  	
   

  	
  IT

  	
   

  	
  1007100

  	
   

  	
   

  
	
   

  	
   

  	
  MX

  	
   

  	
   

  	
   

  	
  9903664

  
	
   

  	
   

  	
  US

  	
   

  	
  6375931

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
  6783752

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  CONTRAST AGENTS
  COMPRISING AN AZEOTROPIC MIXTURE OF TWO GASES FOR ULTRASOUND INVESTIGATIONS

  	
   

  	
  US

  	
   

  	
  6177061

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ULTRASOUND IMAGING WITH
  CONTRAST AGENT TARGETED TO MICROVASCULATURE AND A VASODILATOR DRUG

  	
   

  	
  US

  	
   

  	
  6811766

  	
   

  	
   

  
	
   

  	
   

  	
  US

  	
   

  	
   

  	
   

  	
  10/867237

  

 

 19
 

 

 

	
  APPARATUS HAVING
  PARTIALLY GOLD-PLATED SURFACE

  	
   

  	
  US

  	
   

  	
   

  	
   

  	
  10/761967

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ULTRASOUND CONTRAST
  AGENT DISPERSIONS COMPRISING GAS AND DESTABILISING AGENT

  	
   

  	
  DE

  	
   

  	
  69921317.7

  	
   

  	
   

  
	
   

  	
   

  	
  EP

  	
   

  	
  1079865

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  CONTRAST AGENTS

  	
   

  	
  US

  	
   

  	
   

  	
   

  	
  10/717196

  

 

 

 20Exhibit
10.2

[CONFIDENTIAL
TREATMENT REQUESTED] /*/ INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH
CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN
FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 PROMULGATED UNDER THE SECURITIES EXCHANGE ACT
OF 1934, AS AMENDED.

PATENT
LICENSE AGREEMENT

This Agreement is made by and between

BRACCO INTERNATIONAL BV, a corporation duly organized and existing
under the laws of The Netherlands, having its registered office at
Strawinskylaan 3051, 1077 ZX Amsterdam, (hereinafter referred to as “BRACCO”)

and

ACUSPHERE INC., a corporation organized and existing
under the laws of the State of Delaware, U.S.A (hereinafter referred to as “ACUS”)

ACUS and BRACCO may each be alternatively referred to
herein individually as a “Party” or collectively as the “Parties”)

WHEREAS, BRACCO owns or controls certain patent rights
pertinent to ultrasound contrast agents;

WHEREAS, ACUS wishes to obtain licenses under the
patent rights specified hereinafter and BRACCO is willing to grant such
licenses on the terms and conditions as set forth hereinafter.

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

Article 1

Definitions

As used in the Agreement, terms referred to in the
singular shall include the plural (and vice
versa) unless the express terms or context herein clearly require
otherwise, and the following terms shall have the following meanings:

1.01                           “Agreement”
shall mean this present document and all Exhibits attached hereto and signed or
initialled by the Parties hereto, all of which Exhibits form an integral part
hereof.

1.02                          “ACUS Net Sales” shall mean the amounts invoiced on the sales of
Licensed Product carried out in the Territory 
by ACUS, its Subsidiaries, and its Sub-Licensees under this 

 

 

Agreement
other than Nycomed Danmark APS (“Nycomed”) 
to independent, unrelated third parties in bona fide arms’ length
transactions, less (i) trade, cash and quantity discount; (ii) refunds, credits
or other write-offs, (iii) sales taxes (excluding taxes paid on net income),
and government mandated rebates and (iv), two percent (2%) flat deduction to
cover shipping and freight charges and any other expenses and deduction not
otherwise accounted for. Except pursuant to paragraph (iv) above, any and all
deductions used in the calculation of ACUS Net Sales are allowable only to the
extent that they have actually  been
included in the amounts invoiced or otherwise charged or granted on the sales
of Licensed Products.

With respect to the sales of Licensed Product carried
out in by Nycomed in the countries covered by the license agreement at present
in force between ACUS and Nycomed and that are listed in Exhibit 2.01, ACUS Net
Sales shall be the net sales reported by Nycomed to ACUS according to the terms
set forth in the license agreement between ACUS and Nycomed, provided that any
and all deductions used in the calculation of such net sales are allowable only
to the extent that they have actually been included in the amounts invoiced or
otherwise charged or granted on the sales of Licensed Products.

1.03         “Effective Date” shall mean the date of
the last signature of the Agreement

1.04         “Field” shall mean ultrasound
diagnostic imaging

1.05                           “Licensed
Patents” shall mean the patents and patent applications listed in Exhibit 1.05

1.06                           “Licensed
Product” shall mean AI-700, an ultrasound contrast agent in the form of [CONFIDENTIAL
TREATMENT REQUESTED] /*/

1.07                          “Sub-Licensees”
shall mean Nycomed,  any Permitted
Sublicensee to which a sub-license is granted under this Agreement and any
other third party, selected by ACUS and approved by BRACCO pursuant to Section
2.01, granted with a sub-license under this Agreement.

1.08                          “Subsidiaries”
shall mean any corporation, company or other entity of which more than fifty
per cent (50%) of the issued and outstanding capital, or of which more than
fifty per cent (50%) of the power to vote for the election of the directors, or
more than fifty per cent (50%) of which, in the case of a non-stock-issuing
entity, is owned or controlled, directly or indirectly, by BRACCO or by ACUS,
but only for as long as such ownership or control exists.

1.09                          “Permitted
Assignee” shall mean any corporation, company, person or entity, other than the
companies listed on Exhibit 1.08 hereto and their respective Subsidiaries, less
than US $ 5,000,000.00 (five million) of whose revenues in the most recent
fiscal year were provided by sales of diagnostic imaging
agents (excluding revenues derived from the contract manufacturing of
diagnostic imaging agents on behalf of third parties where the contract
manufacturer does not actively market or sell the diagnostic imaging agent to
end-users), including those corporations, companies or entities to whom the assignment has been approved by BRACCO according to
the procedure set forth in Section 6.02 (b) hereunder.

 2
 

 

 

1.10                          “Permitted
Sublicensee” shall mean any corporation, company, person or entity, other
than  the companies listed on Exhibit
1.08 hereto and their respective Subsidiaries, less than US $ 5,000,000.00
(five million) of whose revenues in the most recent fiscal year were provided
by sales of diagnostic imaging agents (excluding revenues derived from the
contract manufacturing of diagnostic imaging agents on behalf of third parties
where the contract manufacturer does not actively market or sell the diagnostic
imaging agent to end-users).

1.11                          “Valid
Claim” means a claim of any pending patent application and/or any issued and
unexpired Licensed Patent which has not lapsed, become abandoned or been held
revoked, invalid, or unenforceable by a decision of a court or administrative
or government authority or agency of competent jurisdiction from which no
appeal can be or has been taken within the time allowed for such appeal, and
which has not been admitted to be invalid or unenforceable through reissue,
disclaimer or otherwise.

1.12                          “Territory”
shall mean any country in the world where a Valid Claim exists. Exhibit 1.09
lists such countries at the time of the execution of the Agreement.

Article 2

Licenses

2.01                           Subject
to the terms and conditions provided for in the Agreement, BRACCO hereby grants
to ACUS and its Subsidiaries a non-exclusive, indivisible, non-transferable(
except as set forth herein), license in the Territory limited to the Field,
with the limited right to grant sublicenses as set forth here below in this
Section 2.01, under the Licensed Patents to make, have made, develop, have
developed, use, sell, offer to sell, import and distribute  the Licensed Products.

ACUS shall have the right to grant a sublicense under
the Licensed Patents to Nycomed Danmark APS 
for the countries covered by the license agreement at present in force
between ACUS and Nycomed that are listed in Exhibit 2.01 and that are part of
the Territory. Acusphere shall have the right to grant a sub-license under the
Licensed Patents to a Permitted Sublicensee without Bracco’s prior approval. In
such a case ACUS shall timely communicate to BRACCO the name of such Permitted
Sublicenses and the pertaining countries covered by the Permitted Sublicensee.
If ACUS wishes to  sublicense the  Licensed Patents in any country of the
Territory through a third party that is not a Permitted Sublicensee, ACUS shall request the
prior written approval of BRACCO to sublicense the Licensed Patents to such
third party, which approval shall not be unreasonably withheld or delayed.  Requests for consent shall be made by ACUS,
and BRACCO shall respond, as set forth in Section 6.02, below. Sub-licences
hereunder shall not be inconsistent with the terms of this Agreement, shall not
include the right to grant further sub-licences under the Licensed Patents and
shall automatically and immediately terminate upon termination of the Agreement.

2.02                        Upon
payment by ACUS under Section 3.02 below of an aggregate amount of royalties (including the 50% of the amounts paid pursuant
to Section 3.01 (a) (iii) and (iv) credited 

 3
 

 

as advance royalties under
Section 3.01(b)) equal to Euro 10,000,000.00 (ten millions), the licenses
granted under this Agreement shall be deemed fully paid-up as far as royalty
payment is concerned and, subject to ACUS’s fulfilment with the terms of this
Agreement and provisions set forth in Section 6.02, shall thereafter be  irrevocable.

Article
3

Consideration

3.01                           Milestones.
(a) In consideration of the rights and license granted hereunder with respect
to the Licensed Patents, ACUS shall pay to BRACCO:

(i)                                     non-refundable
sum of Euro 500,000.00 (five hundred thousand) in immediately available funds
within five business days after the signature of the Agreement;

(ii)                                  non-refundable
sum of [CONFIDENTIAL TREATMENT REQUESTED] /*/ in immediately available funds
within five business days after the acceptance by FDA (US Food and Drug Administration) of NDA (New Drug Approval) filing package relating
to the Licensed Product;

(iii)                               non-refundable
sum of [CONFIDENTIAL TREATMENT REQUESTED] /*/ in immediately available funds
within five business days after the obtainment in the first country in Europe
of the marketing approval relating to the Licensed Product;

(iv)                              non
refundable sum of [CONFIDENTIAL TREATMENT REQUESTED] /*/ in immediately
available funds within five business days after the obtainment in USA of the
marketing approval relating to the Licensed Product.

The above amounts
shall be net of any imposed tax, duty etc.

(b) The parties acknowledge and agree that the 50%
(fifty per cent) of the sum that ACUS will pay to BRACCO pursuant to paragraphs
3.01 (a) (iii) and (iv) above shall be considered as advance royalty payment to
be off-set against future royalty payments due by ACUS to BRACCO pursuant to
Section 3.02 (a) below, according to the mechanism set forth in Section 3.02
(b).

3.02                          Royalties. (a) In further
consideration of the license granted in Article 2 hereof, during the term of
the Agreement ACUS shall pay BRACCO a royalty in an amount equal to:

(i)                                                       until such time as the total cumulative amount of ACUS Net Sales (“Cumulative
Net Sales”) equals [CONFIDENTIAL TREATMENT REQUESTED] /*/, [CONFIDENTIAL
TREATMENT REQUESTED] /*/ % of ACUS Net Sales;

(ii)                                                    from the time that Cumulative Net Sales are greater than [CONFIDENTIAL
TREATMENT REQUESTED] /*/ until they equal [CONFIDENTIAL TREATMENT REQUESTED]
/*/, [CONFIDENTIAL TREATMENT REQUESTED] /*/ % of ACUS Net Sales;

 4
 

 

 

(iii)                                                 at all times after Cumulative Net Sales have reached [CONFIDENTIAL
TREATMENT REQUESTED] /*/, [CONFIDENTIAL TREATMENT REQUESTED] /*/ % of ACUS Net
Sales.

(b) The parties acknowledge and agree that ACUS shall
be entitled to terminate the payment of the royalty when the total amount of
royalty paid by ACUS to BRACCO (including amounts paid pursuant to Section 6.02
(a)) has reached . As a consequence of the credit against future royalties
provided for in Section 3.01 (b), then

(i) ACUS shall be entitled to terminate the payment of
the royalty when the total amount of royalty paid by ACUS to BRACCO has reached
[CONFIDENTIAL TREATMENT REQUESTED] /*/ in case ACUS has already paid to BRACCO
the amount provided for in either Section 3.01 (a) (iii) or 3.01 (a) (iv)

(ii) ACUS shall be entitled to terminate the payment
of the royalty when the total amount of royalty paid by ACUS to BRACCO has
reached [CONFIDENTIAL TREATMENT REQUESTED] /*/, in case ACUS has already paid
to BRACCO the amounts provided for in both Section 3.01 (a) (iii) and 3.01 (a)
(iv).

3.03                           Payments. During the term
of the Agreement, within sixty (60) days after the end of each calendar quarter
following the first sale of the Licensed Product in the market, ACUS shall
submit to BRACCO a written statement, according to the model attached in
Exhibit 3.03, identifying the number of Licensed Products sold in the relating
calendar quarter for which royalties are payable and the amount of royalties
due according to Section 3.02 above. Concurrent with the submission of
royalties statement, ACUS shall pay to BRACCO the full amount of royalties
shown thereon. For royalties based on Net Sales of Nycomed, ACUS shall have 75
days after the end of each calendar quarter to provide such report and payment.

ACUS shall pay to
BRACCO in Euro to the account of BRACCO specified in Exhibit 3.03 or such other account as designated by
BRACCO, all in accordance with the instructions by BRACCO as may be modified
from time to time, and by the due dates of the written statements of Section
3.03, the royalties due as specified in such written statements. Net Sales denominated in local currencies shall
be converted in Euro using the exchange rate fixed by the European Central Bank
on the last business day of the relevant calendar quarter.

3.04                           Records. In order that the royalties and
statements provided for in this Article 3 may be verified, ACUS shall keep
complete and accurate books and records relating to all receipts of ACUS Net
Sales by or for it and/or its Subsidiaries, sub-licensee and/or distributors,
for a period of three (3) years following such sales or other disposals. Upon
seven (7) days prior written notice to ACUS, BRACCO shall have the right to
inspect the books and records of ACUS and/or its Subsidiaries from time to
time, in order to verify the correctness of the aforementioned royalty
statements. Any such inspection shall take place no more than once in each
calendar year and shall be conducted by an independent auditor selected by
BRACCO and reasonably accepted by ACUS. ACUS shall willingly co-operate and
provide all such assistance in connection with such inspection as BRACCO and/or
its representatives may reasonably require. Such independent auditor shall
agree to maintain the confidentiality of ACUS books and records, it being 

 5
 

 

 

understood that the only information that he shall be entitled to
disclose to BRACCO shall be his conclusions regarding whether the
aforementioned royalty statements were correct and, if not, in what respects
they were incorrect.

The inspection shall be conducted at BRACCO’ own expense, provided
that in the event that any underpayment of the monies actually due is
established, in addition to ACUS’s obligation promptly to make up for such
underpayment increased by the interest according to Article 3.05, the cost of
the inspection shall be borne by ACUS, without prejudice to any other claim or
remedy as BRACCO may have under the Agreement or under applicable law.  BRACCO’ right of inspection as set out in this
Article 3.04 shall survive termination or expiration of this Agreement for a
period of 3 years.

ACUS agrees to furnish whatever additional information BRACCO may
reasonably request from time to time in order to enable BRACCO to ascertain
ACUS Net Sales and the amount of royalties payable.

3.05                           Interest. If ACUS does not pay any amount due
by the dates specified in Articles 3.01 and 3.03, such amounts shall
automatically accrue interest on a daily basis at the yearly rate of EURIBOR
three months plus 150 basis points calculated from the due date until the date
of payment.

3.06                          Termination. 
The obligation of ACUS to pay royalties hereunder shall terminate for
each country concurrently with the expiration or termination of the last
applicable Valid Claim of the Licensed Patents in such country in which the
Licensed Product is developed, made, used or sold.

3.07                          Taxes. 
All payments due hereunder shall be paid after deducting any taxes or
other fees which may be imposed on such payments by any government (other than
taxes payable by ACUS on its income).  Any withholding tax required to be withheld
by ACUS on royalty payments under the laws of any country on behalf of BRACCO
will be timely paid by ACUS to the appropriate governmental authority, and ACUS
will furnish BRACCO with proof of payment of such tax.  If at any time legal restrictions prevent the
prompt remittance of part or all of any payments owed by ACUS to BRACCO
hereunder with respect to any country, payment shall be made through any lawful
means or methods that may be available, and as ACUS shall reasonably determine
is appropriate.

Article 4

Term and Termination

4.01                          This Agreement shall be effective as from the
Effective Date and, unless terminated earlier pursuant to Article 4.02, Article
4.03, Article 6.02 or Article 6.05, shall remain in force and effect until the
date of expiration of the last to expire of Valid Claim of the Licensed Patents
in each country.

4.02                          In the event of a material breach of
or a material failure to perform any of the obligations set forth in the
Agreement by ACUS or BRACCO or any of their respective Subsidiaries, the
non-breaching Party shall have the right to terminate the Agreement forthwith
by notice in writing, provided that it has given written notice to the other Party
describing the 

 6
 

 

 

details of the alleged breach or failure and such breach or failure
is not corrected within thirty (30) days after written notice describing such
breach or failure has been given by the non-breaching Party.

4.03                          If a Party enters into a proceeding
relating to dissolution, files a voluntary petition in bankruptcy, seeks any
court or governmental protection from creditors or makes any assignment for
creditors, or should an order be entered pursuant to any law relating to
bankruptcy or insolvency appointing a receiver or trustee for such Party, the
other Party may give written notice terminating the Agreement and the Agreement
shall then be terminated in accordance with the notice; provided that in no
event shall BRACCO take any action seeking to terminate or modify the Agreement
by reason of or in connection with its dissolution or bankruptcy, or any other
act taken, or occurrence or event incurred, by BRACCO as described in this
Article 4.03.

4.04                           The following rights and obligations
shall survive any termination of the Agreement to the degree necessary to
permit their fulfilment or discharge:

(a)                                  BRACCO’ right to receive or recover
and ACUS’s obligation to pay royalties on Net Sales made prior to the date of
such termination as well as any applicable interest accrued or to accrue for
payment at the time of termination, and

(b)                                 the inspection rights pursuant to
Article 3.04 for so long as any amount payable under Section 3.02 remains
unpaid; and

(c)                                  the confidentiality obligations of
Article 6.06.

Article
5

Representations and Warranties; Limitation of
Liability

5.01                          Representations and Warranties of ACUS. 
ACUS hereby represents and warrants (a) that it has been duly organized,
and is validly existing and in good standing as a corporation under the laws of
the State of Delaware, (b) that it has all requisite power and authority to
enter into this Agreement, (c) that this Agreement has been duly authorized,
executed and delivered by ACUS, (d) that this Agreement is a valid, binding and
enforceable agreement of ACUS,  (e) that
entering into and performing this Agreement will not conflict with or violate
any other agreement or understanding of ACUS, (f) that it and its Subsidiaries
are not involved in any pending action or procedure to oppose or challenge the
validity of any of the Licensed Patents.

5.02                          Representations and Warranties of
BRACCO.  BRACCO hereby represents and warrants (a)
that this Agreement has been duly authorized, executed and delivered by BRACCO,
(b) that this Agreement is a valid, binding and enforceable agreement of
BRACCO, (c) that entering into and performing this Agreement will not conflict
with or violate any other agreement or understanding of BRACCO, (d) that there
is no pending or in writing threatened claim or litigation challenging or
questioning the validity of, ownership or rights under the Licensed Patents,
and (e) that BRACCO has good and title to the Licensed Patents, free and clear
of any liens, pledges or encumbrances of any description. Based upon 

 7
 

 

the definition of the
Licensed Product included herein, which ACUS hereby represents and warrants is
an accurate and complete (where “complete” is intended to the extent to support
the following representations and warrants of BRACCO) description of its
product AI-700, BRACCO represents and warrants that, to the best of its
knowledge, Exhibit 1.05 lists all patents and patent applications now owned or
controlled by BRACCO that contain Valid Claims that would be infringed by the
manufacture, use or sale of  the Licensed
Product in any jurisdiction.

5.03                       EXCEPT AS EXPRESSLY
SET FORTH IN THIS ARTICLE V, NEITHER ACUS NOR BRACCO MAKES ANY REPRESENTATIONS
OR WARRANTIES, EXPRESS OR IMPLIED, WITH RESPECT TO THE LICENSED PRODUCTS, THE
LICENSED PATENTS, THE LICENSED TECHNOLOGY, OR ANY OTHER MATTER RELATED TO THIS
AGREEMENT.  WITHOUT LIMITATION OF THE
FOREGOING, ACUS AND BRACCO EACH EXPRESSLY DISCLAIM ALL IMPLIED WARRANTIES OF
MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE.

5.04                          Except as specifically set forth in
the Agreement, BRACCO makes no warranties or representations relating to the
manufacture, purchase, sell or use of the Licensed Products, whether express or
implied (by statute or otherwise), and all warranties implied by law or
otherwise are specifically excluded.

5.05                          ACUS shall hold harmless and keep
indemnified BRACCO and its Subsidiaries with respect to any and all claims, and
costs and expenses incurred as a result of defending such claims, by third
parties against BRACCO and/or its Subsidiaries relating to or arising from the
development, manufacture, purchase, sale or use by ACUS and/or its
Subsidiaries, Sub-licensees of any Licensed Product.

Article
6

Miscellaneous

6.01                          The Agreement and the licenses granted
herein shall inure to the benefit of the Parties hereto and to any of their
respective Subsidiaries.  Except in
connection with the sale or other disposition by ACUS of its entire AI-700
business to a Permitted Assignee, in which case no approval by BRACCO shall be
required, neither ACUS, nor its Subsidiaries shall assign or transfer any of
its rights hereunder without the prior written consent of BRACCO which shall
not be unreasonably withheld, whether such assignment or transfer is by way of
merger, acquisition of stock or assets, contract, change of control, operation
of law, or otherwise.

6.02                          (a)            In
the event ACUS desires to assign its right under Section 6.01 hereof to a
Permitted Assignee, ACUS shall promptly inform BRACCO communicating the name of
such Permitted Assignee and, at the time of such assignment, ACUS shall pay to
BRACCO an amount equal to [CONFIDENTIAL TREATMENT REQUESTED] /*/ minus all amounts previously paid to
BRACCO as royalties hereunder (including 50% of amounts paid pursuant to
Section 3.01 (a) (iii) and (iv)).

 8
 

 

 

(b)           In the event that
ACUS desires to market or sell the Licensed Product in the Territory through
anyone other than a Permitted Sublicensee or to assign its rights under Section
6.01 hereof to anyone other than a Permitted Assignee, it shall submit a
request in writing to BRACCO.  Such
request  shall be delivered by registered
letter anticipated by facsimile or email pursuant to Section 6.07, and shall
include the name of the proposed sublicensee or assignee and, in the case of a
sublicense, the proposed territory to be covered by such sublicensee.  BRACCO shall have fifteen full business days
after receipt of such request to respond to ACUS, and any response refusing the
requested consent shall state the reasons for such refusal.  If BRACCO does not respond to ACUS’s request
with such reasons by 5:00 p.m., Boston Time, on the fifteenth full business day
in Boston after receipt of the request by BRACCO, it shall be deemed to have
consented to such request for all purposes hereunder.

(c)            If ACUS’ request
of BRACCO’s permission according to Section 2.01 to sublicense the Licensed
Patents to a third party that is not a Permitted Sublicensee is refused by
BRACCO and, notwithstanding BRACCO’s refusal, ACUS grants any right to market
or sell the Licensed Product in the Territory to such third party, BRACCO may
terminate the Agreement with respect to the particular jurisdiction or
jurisdictions within the Territory where the Licensed Product is marketed or
sold through such third party, but shall have no other remedy under this Agreement.

(d)           If ACUS’ request
of BRACCO’s permission to assign under Section 6.01 hereof its
rights and obligations hereunder to a third party that is not a Permitted
Assignee is refused by  BRACCO, ACUS,
within thirty (30) days from BRACCO’s refusal, may terminate the Agreement upon
payment to BRACCO of (i) an amount equal to [CONFIDENTIAL TREATMENT REQUESTED]
/*/ minus all amounts previously paid to BRACCO as royalties hereunder
(including 50% of amounts paid pursuant to Section 3.01 (iii) and (iv)),  and (ii) an amount equal to [CONFIDENTIAL
TREATMENT REQUESTED] /*/ as additional financial compensation.   In such event, BRACCO agrees to negotiate in
good faith with such third party, to whom ACUS has sold or otherwise disposed
its entire AI-700 business, the terms and conditions of a license agreement
under the Licensed Patents.

6.03                          Nothing contained in the Agreement
shall be construed as:

(i)               a warranty or representation by BRACCO
and/or its Subsidiaries as to the validity or scope of any patent rights licensed
hereunder; or,

(ii)             a warranty or representation that any
manufacture, sale, lease, use or other disposition of Licensed Products
hereunder will be free from infringement of third parties’ patent rights, or
other industrial or intellectual property rights, under which no express
licenses have been granted pursuant to the Agreement; or,

(iii)         an obligation on BRACCO and/or its Subsidiaries to file any patent
application or to secure any patent rights or maintain any patent rights in
force; or,

(iv)        an agreement to bring or prosecute actions or suits against third
parties for 

 9
 

 

 

infringement or conferring any rights to bring or prosecute actions
or suits against third parties for infringement; or,

(v)           conferring any right upon ACUS and/or its Subsidiaries to use in
advertising, publicity or otherwise, any trademark, trade name or names, or any
contraction, abbreviation or simulation thereof, of BRACCO and/or its
Subsidiaries, except that ACUS may state that its ultrasound contrast agent
products are licensed under BRACCO’ patents; or,

(vi)        conferring upon ACUS and/or its Subsidiaries any license or other
right under any patent rights or other industrial or intellectual property
rights except for the licenses and rights expressly granted hereunder; or,

(vii)     an obligation of BRACCO and/or its Subsidiaries to furnish any
technical information or know-how to ACUS and/or its Subsidiaries.

6.04                          Each Party shall give prompt notice to the
other if either Party becomes aware of any infringement or threatened infringement
of the Licensed Patents. ACUS agrees not to take any steps in, or to compromise
any litigation relating to the Licensed Patents, or threatened or potential
litigation, without the prior written consent of BRACCO.

6.05                           If ACUS, its Subsidiaries or its
Sub-licensees initiates and/or carries on any action or procedure to oppose or
challenge the validity of any of the Licensed Patents, any and all sums set
forth in Article 3.01 will become immediately due and BRACCO shall be entitled
at its own discretion either to terminate the Agreement forthwith or,
irrespectively of what is provided for in Sections 3.02 (a) and 3.02 (b), to
receive from ACUS a royalty equal to [CONFIDENTIAL TREATMENT REQUESTED] /*/ % of ACUS Net Sales until the expiration o f the Agreement.

6.06                          During the term of the Agreement and for a
period of five (5) years following the expiration or earlier termination
hereof, each Party shall maintain in confidence the information received by the
other Party, including but not limited to the ones relating to the existence
and terms of the Agreement, and shall not disclose, use or grant the use of
such information of the other Party, except on a need-to-know basis to such
Party’s or its Subsidiaries’ directors, officers and employees, and such Party’s
consultants and collaborators, to the extent such disclosure is reasonably
necessary in connection with such Party’s activities as expressly authorized by
the Agreement.  To the extent that
disclosure to any person is authorized by the Agreement, prior to disclosure, a
Party shall advise such person of the confidential nature of such information
and not to disclose, use or grant the use of the information of the other Party
except as expressly permitted under the Agreement. The confidentiality obligations
under this Article 6.05 shall not apply to the extent that a Party is required
to disclose information by applicable law, regulation or order of a
governmental agency or a court of competent jurisdiction; provided, however,
that to the extent practicable, such Party (a) shall provide advance
written notice thereof to the other Party and consult with the other Party
prior to such disclosure with respect thereto, and (b) shall provide the
other Party with reasonable assistance, as requested by 

 10
 

 

 

the other Party, to
object to any such disclosure or to request confidential treatment thereof, and
(c) shall take reasonable action to avoid and/or minimize the extent of such
disclosure. BRACCO understands that promptly after execution of this Agreement,
ACUS shall report the Agreement pursuant to a filing of a report on Form 8-K
with the United States Securities and Exchange Commission (“SEC”), which report
shall include filing a copy of this Agreement with the exclusion of those
Sections relating to the financial and commercial terms that, upon ACUS’ prompt
request, the SEC will accept to maintain confidential.

6.07                           Any notice or request required or
permitted to be given under or in connection with this Agreement or the subject
matter hereof, shall be deemed to have been sufficiently given when, if given
to ACUS, addressed to:

Sherri Oberg,

President and CEO

Acusphere, Inc.

500 Arsenal Street

Watertown, MA 02472

USA

Facsimile:  (617) 926-4750

Phone: (617) 648-8800

and, if given to
BRACCO, addressed to:

Dr. Roberto Rettani

CEO and Managing Director

Bracco Imaging Spa

Via Egidio Folli 50

20134 Milano

Italy

Phone:      (+39) 02 21 77 28 18

Facsimile:  (+39) 02 21 77 27 71

 

copy to:

Legal Department

Bracco Spa

Via Egidio Folli 50

20134 Milano

Italy

Phone:      (+39) 02 21 77 24 31

Facsimile:  (+39) 02 21 77 27 74

 11
 

 

 

sent by electronic telecopy (fax) or email and, in each case,
confirmed by certified or registered mail.

Any notice, if sent properly addressed by electronic telecopy (fax)
or email and confirmed by certified or registered mail, shall be deemed made on
the certified or delivered date.

Either Party may give written notice of a change of address in the
above-mentioned way and, after notice of such change has been received, any
notice or request required to be given shall thereafter be given to such Party
at such changed address in the manner as provided above.

6.08         The Agreement shall be governed by and
construed in all respects in accordance with the Swiss law.

If a divergence or a dispute between the Parties arising out of or in
connection with this Agreement cannot be settled by them though negotiations in
good faith, such divergence or dispute shall be finally settled by a panel of
three Arbitrators, appointed one by each of the Parties and a third, who shall
act as President, either by agreement between the two Arbitrators or, in the
absence of such agreement, by the President of the Swiss Federal Tribunal.

The Party requesting arbitration shall notify the other Party of its
intention and shall at the same time indicate its own appointed Arbitrator.

The Party receiving such notice shall within 30 (thirty) days of said
notice appoint its own Arbitrator and notify the other Party thereof.

The President of the Swiss Federal Tribunal shall also proceed with
the appointment of an Arbitrator if any Party required to proceed with such an
appointment shall not have done so within the aforesaid 30 (thirty) day period,
and the President of the Swiss Federal Tribunal shall proceed in the same way
in the event that the Parties do not agree on the appointment of the third
Arbitrator.

The Arbitration shall be held in accordance with Chapter XII of the
Swiss Federal Law on Private International Law, the Parties expressly excluding
all appeal against the award of the arbitral tribunal. The seat of the
Arbitration panel shall be in Geneva, and the proceedings shall be in the
English language.

6.09                         The waiver by either Party of a breach
or default of any provision of the Agreement by the other Party shall not be
construed as a waiver by such Party of any succeeding breach of the same or
other provisions, nor shall any delay or omission on the part of either Party
to exercise or avail itself of any right, power or privilege that it has or may
have hereunder, operate as a waiver of any right, power or privilege by such
Party.

6. 10                        The Agreement sets forth the entire
agreement and understanding between the Parties hereto as to the subject matter
hereof and merges and supersedes all prior discussions between them and neither
of the Parties shall be bound by any conditions, definitions, warranties,
waivers, releases to the subject matter of the Agreement, other than expressly 

 12
 

 

 

provided for herein, or as duly set forth on or subsequent to the
date hereof in writing, signed by duly authorized representatives of the
Parties hereto to be bound thereby.

6.11                           In the event that any provision of the
Agreement shall finally be determined to be unlawful or unenforceable, such
provision shall be deemed severed from the Agreement, but all other provisions
of the Agreement shall remain in full force and effect, and in substitution for
any such provision held unlawful or unenforceable, there shall be substituted a
provision of similar import reflecting the original intent of the Parties
hereto to the extent permissible under applicable law.

6.12                           The Agreement is executed in two (2)
counterparts, each of which shall constitute one original copy.

IN WITNESS WHEREOF,
the Parties have executed the Agreement by their duly authorised
representative.

	
  ACUSPHERE INC.

  	
  BRACCO INTERNATIONAL
  BV

  

 

	
  By:

  	
   

  	
  /s/ Sherri C. Oberg

  	
  By:

  	
   

  	
  /s/ Diana Bracco

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
   

  	
  Sherri C. Oberg

  	
  Name:

  	
   

  	
  Diana Bracco

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
   

  	
  President

  	
  Title:

  	
   

  	
  Managing Director,
  Bracco Holdings BV

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
   

  	
  June 1, 2006

  	
  Date:

  	
   

  	
  June 1, 2006

  

 13
 

 

 

EXHIBIT 1.05 - BRACCO
Patents and Patent Applications. 
Includes patents and patent applications listed below and all other
patents and applications claiming priority to any of the applications listed
below or any of the applications that resulted in the below-listed patents.

[CONFIDENTIAL
TREATMENT REQUESTED] /*/

 14
 

 

 

EXHIBIT
1.08

[CONFIDENTIAL
TREATMENT REQUESTED] /*/

 15
 

 

 

EXHIBIT
1.09

 

Australia,

Austria,

Belgium,

Canada,

China,

Denmark,

Finland,

France,

Germany,

Great Britain,

Hungary,

Israel,

Italy,

Japan,

Netherlands,

Norway,

Republic of Korea,

Russian Federation,

Spain,

Sweden,

Switzerland,

United States of America.

 16
 

 

 

EXHIBIT
2.01

Albania,
Andorra, Armenia, Austria, Azerbaijan, Belarus, Belgium, Bosnia and Herzegovina,
Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France,
Georgia, Germany, Greece, Hungary, Iceland, Ireland, Italy, Kazakhstan,
Kyrgyzstan, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco,
Netherlands, Norway, Poland, Portugal, Republic of Moldova, Romania, Russian
Federation, Slovakia, Slovenia, Spain, Sweden, Switzerland, The former Yugoslav
Republic of Macedonia, Turkey, Tadzhikistan, Turkmenistan, Ukraine, Uzbekistan,
United Kingdom and Yugoslavia.

 17
 

 

 

EXHIBIT 3.03

QUARTERLY
SALES REPORT MODEL:  1st (2nd, 3rd, 4th)
QUARTER YYYY

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Sales

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Presentation

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Amount

  	
   

  	
   

  	
   

  	
  Sales

  	
   

  
	
   

  	
   

  	
  Company

  	
   

  	
  (e.g. 10ml,

  	
   

  	
  Units

  	
   

  	
  Local

  	
   

  	
  in Local

  	
   

  	
  Exchange

  	
   

  	
  Amount

  	
   

  
	
  Country

  	
   

  	
  [Distributor]

  	
   

  	
  50ml etc.)

  	
   

  	
  Sold

  	
   

  	
  Currency

  	
   

  	
  Currency

  	
   

  	
  Rate

  	
   

  	
  in Euro

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Total Euro

  	
   

  	
   

  	
   

  

 

 

 

Royalty
Calculation:

 

 

 

 

Bracco
Account:

[CONFIDENTIAL TREATMENT
REQUESTED] /*/

 18

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