Document:

Exhibit 10.6

 

 

January 31, 2012

 

Via Federal Express

 

Emily Wang

Supervisor

6F., No.306, Sec. 2, Bade Rd., Zhongshan Dist.,

Taipei City 104, Taiwan (R.O.C.)

 

Re:                             OPT-822/821 Products

 

Dear Emily,

 

Optimer Pharmaceuticals, Inc. (“Optimer”) and Optimer Biotechnology, Inc. (“OBI”) are parties to an Intellectual Property Assignment and License Agreement effective as of October 30, 2009 (the “Agreement”).  This letter agreement (this “Letter Agreement”) confirms the mutual agreement of Optimer and OBI concerning the parties’ interest in entering into a license agreement pursuant to which OBI would license certain patents and know-how to Optimer concerning the compound(s) known as OPT-822/821.  All capitalized terms, where not otherwise defined in this Letter Agreement, will have the meanings set forth in the Agreement.

 

By our mutual execution of this Letter Agreement, the parties agree to the following:

 

If OBI or one of its Affiliates receives any Offer (as defined below) within the period of the Effective Date of the Agreement and through the ten (10) year anniversary of the Effective Date, then Optimer shall have a right of first refusal (the “Right of First Refusal”) to obtain an exclusive, royalty-bearing license (including the right to sublicense) under the OPT-822/821 Patents and the OBI OPT-822/821 Technology to develop, make, have made, use, sell, offer for sale, have sold, and import OPT-822/821 Products in the Offered Territory (as defined below) related to such Offer.  Notwithstanding the foregoing, in the event that OBI undergoes a change of control, this Letter Agreement shall be automatically terminated.  In this paragraph,  a “change of control” is deemed to occur if OBI (a) completes a transaction in which OBI merges or consolidates with any other entity (other than a subsidiary of OBI); or (b) effects any other transaction or series of transactions (other than a stock offering resulting in OBI’s shares being listed on a national or other publicly recognized stock exchange and other than other bona-fide fund raising from existing or new investors in the ordinary course of business), such that in either case of clause (a) or (b) the shareholders of OBI immediately prior thereto, in the aggregate, no longer own, directly or indirectly, beneficially or legally, at least fifty percent (50%) of the outstanding voting securities or

 

Confidential

 

10110 SORRENTO VALLEY ROAD, SUITE C   SAN DIEGO, CALIFORNIA 92121   TEL: 858-909-0736 FAX: 858-909-0737

 

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capital stock of the surviving entity following the closing of such merger, consolidation, other transaction or series of transactions.

 

Prior to OBI or any of its Affiliates accepting a bona fide offer (an “Offer”), whether written or oral, to exclusively (or co-exclusively with OBI or any of its Affiliates) license any of the OPT-822/821 Patents and/or OBI OPT-822/821 Technology in a territory that includes any part of the world other than the countries of Taiwan R.O.C., China, the territory of Hong Kong, Indonesia, India and the ASEAN Secretariat countries, comprising Thailand, Vietnam, Laos, Cambodia, Burma, Thailand, Malaysia, Singapore, Brunei, Pakistan or the Philippines (the “Excluded Countries”), OBI shall deliver a written notice to Optimer specifying the OPT-822/821 Patents and/or OBI OPT-822/821 Technology to be licensed and all material terms of such proposed transaction (an “Offer Notice”); provided, however, that if the Offer has been made in writing, the Offer Notice shall include a copy of such Offer.  The previous sentence notwithstanding, OBI shall not be obligated to disclose the name of any potential counterparty with respect to an Offer to the extent such disclosure would be prohibited by a confidentiality agreement with such potential counterparty.  The territory that is the subject of any applicable Offer, excluding any Excluded Countries, is referred to as the “Offered Territory”.  Optimer shall have thirty (30) calendar days after the receipt of the Offer Notice to notify OBI in writing whether it wishes to exercise the Right of First Refusal (an “Exercise Notice”).  If Optimer delivers an Exercise Notice within such thirty (30) calendar day period, then OBI shall negotiate in good faith with Optimer to execute and deliver appropriate documentation to consummate an exclusive license in the Offered Territory within sixty (60) days after OBI’s receipt of the Exercise Notice, including sharing of such information regarding OPT-822/821 as Optimer may reasonably request to evaluate the Offer.  If Optimer and OBI are unable to execute and deliver appropriate documentation to consummate such transaction within sixty (60) days after OBI’s receipt of the Exercise Notice or Optimer affirmatively indicates in writing that it is not interested in exercising its Right of First Refusal or continuing to negotiate, OBI shall be free to accept the applicable Offer and exclusively license the OPT-822/821 Patents and/or the OBI OPT-822/821 Technology in the Offered Territory pursuant to the terms contained in the Offer Notice; provided, however, that neither OBI nor its Affiliates shall consummate any licensing transaction related to the applicable Offer with a third party which contains terms more favorable than those set forth in the applicable Offer Notice or those offered by Optimer during any negotiation period without first re-offering such more favorable terms to Optimer in accordance with this Letter Agreement.

 

As consideration for the grant of the Right of First Refusal, Optimer hereby waives OBI’s obligations under Section 5.1 of the Agreement with respect to OPT-822/821; provided that such obligations shall be reinstated if and when OBI undergoes a change of control which results in the termination of this Letter Agreement.

 

Each party will keep the contents, terms and existence of this Letter Agreement, as well as information exchanged by the parties relating to the OPT-822/821 Patents and/or the OBI OPT-822/821 Technology, including, without limitation, technical information, know-how, scientific information, formulae, manufacturing data and procedures, marketing information and strategies, sales and financial data (collectively, “Confidential Information”), in complete confidence and will not, without the prior written consent of the other party, use or exploit, in whole or in part, any Confidential Information other than as contemplated herein or disclose any Confidential Information to any person not

 

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otherwise contemplated herein; provided, however, that (a) each party may disclose Confidential Information to its Affiliates and third-party manufacturers and their respective officers and employees and to their respective legal, accounting, tax, regulatory and other professional advisors whose knowledge of such Confidential Information, in the reasonable opinion of the disclosing party, is necessary for assessing and/or implementing the transactions contemplated hereby; (b) each party will use reasonable efforts to ensure that each person to whom any Confidential Information is disclosed pursuant to clause (a) above adheres to the terms of this undertaking as if he, she, or it were a party hereto; and (c) either party may disclose Confidential Information to the extent required by law (including requirements of any regulatory body or securities exchange on which a party’s common stock is listed) but shall use commercially reasonable efforts to provide adequate prior notice to the other party to seek a protective order or other relief to prevent such disclosure.

 

This Letter Agreement may not be assigned by any party without the prior written consent of the other party; provided that Optimer may assign its Right of First Refusal (including any portion thereof with respect to a particular territory or territories) to any subsidiary that is wholly-owned, directly or indirectly, by Optimer.

 

[Signature Page Follows]

 

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Please sign two (2) originals of this Letter Agreement and return one to Optimer at the address above.

 

	
OPTIMER   PHARMACEUTICALS, INC.
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
 
    	
 
    
	
Name:
    	
Pedro   Lichtinger
    	
 
    
	
Title:
    	
President   and Chief Executive Officer
    	
 
    
	
Date:
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
ACCEPTED   and AGREED:
    	
 
    
	
OPTIMER   BIOTECHNOLOGY, INC.
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
 
    	
 
    
	
Name:
    	
Emily   Wang
    	
 
    
	
Title:   
    	
Supervisor
    	
 
    
	
Date:
    	
 
    	
 
    

 

4Exhibit 4.1

 

AMENDMENT TO RIGHTS AGREEMENT

 

This Amendment dated as of May 10, 2012 (this “Amendment”) to the Rights Agreement, dated as of September 4, 2009 (the “Rights Agreement”), is entered into between AMAG PHARMACEUTICALS, INC., a Delaware corporation (the “Company”), and AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC, as Rights Agent (the “Rights Agent”).  Capitalized terms used herein and not defined shall have the meanings specified in the Rights Agreement.

 

WHEREAS, the Company and the Rights Agent are parties to the Rights Agreement;

 

WHEREAS, the Company is entering into a Stockholder Agreement, dated as of May 9, 2012, with Adage Capital Management, L.P. (“Adage”), pursuant to which, among other things, the shares of the Company’s Common Stock, $0.01 par value per share (the “Common Stock”) held by Adage shall be subject to certain restrictions;

 

WHEREAS, Adage has indicated to the Company that it desires to purchase additional shares of Common Stock on behalf of its clients and itself that would cause Adage’s Beneficial Ownership to exceed 20% of the issued and outstanding shares of the Common Stock;

 

WHEREAS, Section 27 of the Rights Agreement permits the Company to amend the Rights Agreement on the terms set forth in this Amendment;

 

WHEREAS, the Board of Directors of the Company (the “Board”) has determined that one or more purchases of additional shares of Common Stock by Adage as provided herein would not be inconsistent with the purpose and intent of the Board in adopting the Rights Agreement;

 

WHEREAS, the Board has determined that it is in the best interests of the Company and its stockholders to modify the terms of the Rights Agreement as set forth herein, and in connection therewith the Company is entering into this Amendment and directing the Rights Agent to enter into this Amendment.

 

NOW, THEREFORE, in consideration of the promises and mutual agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the Company and the Rights Agent hereby agree as follows:

 

1.                                      Amendment to the Rights Agreement.

 

(a)                                  Section 1(a) of the Rights Agreement is hereby amended by inserting the following new paragraph immediately after the existing paragraph in such Section 1(a):

 

“Notwithstanding the foregoing, Adage Capital Management, L.P. (“Adage”), shall not be deemed to be an Acquiring Person for purposes of this Agreement unless and until Adage, together with all Affiliates and Associates thereof, is the Beneficial Owner of

 

 

25% or more of the Common Shares then outstanding; provided, however, that Adage shall also not become an Acquiring Person as the result of an acquisition of Common Shares by the Company which, by reducing the number of shares outstanding, increases the proportionate number of shares beneficially owned by Adage to 25% or more of the Common Shares then outstanding; and provided further, that if Adage shall become the Beneficial Owner of 25% or more of the Common Shares then outstanding by reason of share purchases by the Company and shall, following written notice from, or public disclosure by the Company of such share purchases by the Company, become the Beneficial Owner of any additional Common Shares without the prior consent of the Company and shall then beneficially own more than 25% of the Common Shares then outstanding, then Adage shall be deemed to be an Acquiring Person.  The provisions of this paragraph shall terminate and be of no further force and effect upon the earlier of (a) the termination of the Stockholder Agreement dated May 9, 2012 by and among Adage and the Company and (b) Adage reducing its Beneficial Ownership below 20% of the Common Shares then outstanding after it increases its Beneficial Ownership to 20% or more of the Common Shares then outstanding.”

 

2.                                      Miscellaneous.

 

(a)                                  Except as expressly set forth herein, the Rights Agreement shall not by implication or otherwise be supplemented or amended by virtue of this Amendment, but shall remain in full force and effect, as amended hereby.  This Amendment shall be construed in accordance with and as a part of the Rights Agreement, and all terms, conditions, representations, warranties, covenants and agreements set forth in the Rights Agreement and each other instrument or agreement referred to therein, except as herein amended, are hereby ratified and confirmed.  To the extent that there is a conflict between the terms and provisions of the Rights Agreement and this Amendment, the terms and provisions of this Amendment shall govern for purposes of the subject matter of this Amendment only.

 

(b)                                  If any term, provision, covenant or restriction of this Amendment is held by a court of competent jurisdiction or other authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Amendment shall remain in full force and effect and shall in no way be affected, impaired or invalidated.

 

(c)                                  This Amendment shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall be governed by and construed in accordance with the laws of such State applicable to contracts to be made and performed entirely within such State.

 

(d)                                  This Amendment may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

(e)                                  This Amendment shall be deemed effective as of the date first written above, as if executed on such date.

 

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date first written above.

 

	
 
    	
AMAG PHARMACEUTICALS, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Joseph L. Farmer
    
	
 
    	
Name:
    	
Joseph   L. Farmer
    
	
 
    	
Title:
    	
Chief   Administrative Officer & General Counsel
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC, AS   RIGHTS AGENT
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Carlos Pinto
    
	
 
    	
Name:
    	
Carlos   Pinto
    
	
 
    	
Title:
    	
Senior   Vice President
    
				

 

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