Document:

Exhibit 10.6

 

PORTIONS OF THIS EXHIBIT IDENTIFIED BY [*****] HAVE BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE THE EXCLUDED INFORMATION IS BOTH (I) NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED.

 

Ref. SU C15/1731A01

Ref. SATT LUTECH: LIC3-2015-0011-AV01 (ST00022)

 

AMENDMENT No. 1 TO THE LICENSE AGREEMENT

 

Between:

 

·                      The company BIOPHYTIS, a public limited company with share capital of 2,692,682 euros, with registered office at 14 Avenue de l’Opéra - 75001 Paris, registered in the Trade and Companies Register of Paris, under number B 492 002 225, represented by Stanislas VEILLET, its Managing Director, duly authorised for this purpose,

 

Hereinafter referred to as “BIOPHYTIS”,

 

ON THE ONE HAND,

 

AND

 

·                      SORBONNE UNIVERSITY, a scientific, cultural and professional public institution, having its registered office located at 21 rue de l’école de médecine, 75006 PARIS, with the SIRET [French businesses directory] number 130 023 385 00011, represented by its President, Mr Jean CHAMBAZ, duly authorised for this purpose,

 

Hereinafter referred to as “SORBONNE UNIVERSITY” or “SU”,

 

The CENTRE NATIONAL DE LA RECHERCHE SCIENTIFIQUE, a scientific and technological public institution, with registered office at 3, rue Michel-Ange - 75794 Paris cedex 16 - France, with the SIRET number 197 517 220 00012, represented by its President, Mr Antoine PETIT, duly authorised for this purpose,

 

Hereinafter referred to as “CNRS”,

 

THE INSTITUT NATIONAL DE LA RECHERCHE AGRONOMIQUE, a scientific and technological public institution, with registered office at 147, rue de l’Université - 75338 Paris cedex 07 - France, with the SIRET number 180 070 039 01803, represented by its President, Mr Philippe MAUGUIN, duly authorised for this purpose,

 

Hereinafter referred to as “INRA”,

 

The CNRS and the INRA having mandated SU to sign for the purposes of this License agreement,

 

SU, the CNRS and the INRA being hereafter collectively referred to as the “INSTITUTIONS”,

 

ON THE OTHER HAND,

 

1

 

AND IN THE PRESENCE OF:

 

·                      The SATT Paris - Ile de France - Compiègne - Oise, the trade name of which is “SATT LUTECH”, a simplified joint-stock company, with registered office at 4-4bis rue de Ventadour-75001 Paris, registered in the RCS [Trade and Companies Register] of Paris under number B 539 984 500, represented by its President, Mr Jacques PINGET, duly authorised for this purpose,

 

Hereinafter referred to as “SATT LUTECH”,

 

Acting as agent of the INSTITUTIONS for negotiating and then following up on the performance of this License agreement, the rights and obligations attributed to SATT LUTECH pursuant to this agreement may at any time be transferred back to the INSTITUTIONS or to any third party that the INSTITUTIONS may appoint as agent instead of SATT LUTECH, without BIOPHYTIS being able to oppose this,

 

The INSTITUTIONS and BIOPHYTIS being hereinafter collectively referred to as “PARTIES” and individually as a “PARTY”.

 

SATT LUTECH, the INSTITUTIONS and BIOPHYTIS being hereinafter collectively referred to as “SIGNATORIES” and individually as “SIGNATORY”.

 

WHEREAS:

 

The Université Pierre et Marie Curie (“UPMC”), the CNRS, the INRA and BIOPHYTIS, in the presence of SATT LUTECH, entered into a License agreement effective on 27 May 2015 concerning the License of a family of patents which the PARTIES co-own (the “License Agreement”).

 

It is recalled that pursuant to Decree No. 2017-596 of 21 April 2017 relating to the creation of the University named “Sorbonne University”, which groups together the universities Paris-IV (Université Paris-Sorbonne) and Paris-VI (Université Pierre et Marie Curie — UPMC), Sorbonne University replaced the two pre-existing universities as from the 1st of January 2018 and, as a result, took over all of the rights and obligations of Paris-IV and Paris-VI, with no need to sign an amendment to the above-mentioned agreements.

 

The SIGNATORIES wish to conclude an amendment to the License Agreement (the “Amendment No. 1”) to (i) include three (3) new patents in addition to the families of patents licensed to BIOPHYTIS pursuant to the License Agreement as on its above-mentioned effective date, (ii) to extend the scope of utilisation of the License Agreement as on its above-mentioned effective date, (iii) to specify the terms for calculating the annual fees owed by BIOPHYTIS pursuant to Article 5.2.1 of the License Agreement in the event of any PRODUCT being sold in a kit or in combination with other products that are not PRODUCTS, and (iv) to modify the conditions of diligence of utilisation incumbent upon BIOPHYTIS in its capacity as licensee.

 

THIS HAVING BEEN SET FORTH, THE FOLLOWING HAS BEEN AGREED AND DECIDED:

 

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ARTICLE 1: MODIFICATIONS OF THE LICENSE AGREEMENT

 

1.1                     Acknowledging the Decree cited in the preamble of this Amendment No. 1, the SIGNATORIES agree to replace in all provisions of the License Agreement, the term “UPMC” by “SU”.

 

1.2                     Paragraph 3) of the preamble of the License Agreement is amended as follows:

 

“3) BIOPHYTIS is a Biotechnologies company created in 2006, specialising in diseases associated with the challenge of ageing, in particular those affecting the muscular and visual functions. BIOPHYTIS wishes to develop and market nutraceuticals and medicines the manufacturing, holding or marketing of which entail the implementation of all or a portion of the claims of the families of patents cited in point 1) above. BIOPHYTIS intends in particular to market them directly or indirectly for applications related to obesity (in particular sarcopenic obesity), sarcopenia, diabetes, muscular dystrophies in particular genetic ones (including in particular duchenne myopathy), cachexia (including cachexia related to heart failure), neuromuscular diseases (including spinal amyotrophy and amyotrophic lateral sclerosis) and respiratory diseases (including obstructive bronchopneumopathy) and cardiovascular disease (including in particular arterial hypertension);”

 

1.3                     Article 1.5 of the License Agreement is deleted and replaced as follows:

 

“1.5 SCOPE, means any application associated with obesity (including in particular sarcopenic obesity), sarcopenia, diabetes, muscular dystrophy and in particular genetic muscular dystrophy (including the duchenne myopathy), cachexia (including cachexia linked to heart failure), neuromuscular diseases (including in particular spinal amyotrophy and amyotrophic lateral sclerosis), respiratory diseases (including in particular obstructive bronchopneumopathy) and cardiovascular diseases (including arterial hypertension);”

 

1.4                     An Article 1.5bis of the License Agreement is inserted as follows:

 

“1.5bis REASONABLE COMMERCIAL EFFORTS, refers to the level of effort and resources comparable to the standards applied by companies of the same size as BIOPHYTIS for the development and marketing of products similar to the PRODUCTS, at a similar stage of development or marketing, taking into account in particular the scientific, technical, clinical, regulatory and normative constraints, and constraints of manufacturing, safety and performance of the product, the level of competition of the market concerned in general or for a given application or indication, the changes in strategy, in particular clinical or regulatory changes, justified by the feedback from a regulatory authority, likely to affect the development or marketing of the PRODUCT or by compliance with the standards of the industry concerned by the PRODUCT (e.g. certification, approval...), likely to affect the development or marketing of the

 

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PRODUCT and significant changes in the conditions of the envisaged market or markets that are likely to affect the potential of the PRODUCT.

 

1.5                     Article 4.3 of the License Agreement is deleted and replaced as follows:

 

“4.3 BIOPHYTIS shall promptly inform SATT LUTECH, acting on behalf of the INSTITUTIONS, of any decision taken by BIOPHYTIS itself or any of the LICENSEES, not to continue the development and/or marketing of any PRODUCT in any country of the TERRITORY or the utilisation of all or a portion of the PATENTS. Where applicable, the INSTITUTIONS or SATT LUTECH acting on their behalf will have the right to withdraw from BIOPHYTIS the exclusivity granted in the country or countries considered or in consideration of the rights not utilised.

 

The INSTITUTIONS, or SATT LUTECH acting on their behalf, may withdraw from BIOPHYTIS the exclusivity granted pursuant to Article 2.1 above, if, for two (2) consecutive years and in consideration of the projections provided pursuant to Article 4.2 above, BIOPHYTIS has not put in place any of the means necessary for the direct or indirect development and marketing of PRODUCTS.

 

Lastly, in the event that the royalties collected (excluding guaranteed minimums) from BIOPHYTIS pursuant to the LICENSE AGREEMENT, on NET SALES and on INDIRECT INCOME, would represent an annual total less than or equal to [****], for a period of two (2) consecutive financial years, SATT LUTECH, acting on behalf of the INSTITUTIONS, may notify to BIOPHYTIS by registered letter with acknowledgement of receipt the automatic and immediate conversion of the exclusive rights concerned by the LICENSE AGREEMENT into non-exclusive rights. However, it is agreed between the PARTIES that in the case referred to in this paragraph, the conversion of the exclusive rights granted into non-exclusive rights will be suspended on condition that BIOPHYTIS demonstrates that it has provided REASONABLE COMMERCIAL EFFORTS over the period considered and that it pays SATT LUTECH a lump sum equal to the difference between the threshold of [****] due annually as indicated above and the royalties already actually paid by BIOPHYTIS to SATT LUTECH, acting on behalf of the INSTITUTIONS, pursuant to Article 5.2 of the AGREEMENT for the period considered. By express agreement between the PARTIES, this paragraph may be implemented at any time during the duration of the LICENSE AGREEMENT, from the expiry of a period of six (6) months after the issuing of a first Marketing Authorisation (or any other equivalent authorisation issued outside of Europe by any health authority before any Marketing Authorisation) in consideration of any PRODUCT, and in any case no later than from the 2023 accounting period.”

 

1.6                     Article 4.5 of the License Agreement is deleted and replaced as follows:

 

“BIOPHYTIS is prohibited from using, for any purposes whatsoever, including in the context of non-commercial transactions, the names “Centre National de la Recherche Scientifique” [National Centre for Scientific Research], “CNRS”, “Université Pierre et Marie Curie”, “UPMC”, “Sorbonne University”, “SU”, “Institut National de la Recherche Agronomique”, “INRA” or any distinctive sign, trade name, registered company name, trade mark, image, logo or figurative sign belonging to any of the INSTITUTIONS and any adaptation thereof, as well as the name of the inventors and of any representative of any of the INSTITUTIONS, without having received prior to each utilisation the written consent of a legal representative of the INSTITUTION 

 

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concerned, duly authorised to commit it on this basis, and, where applicable, the natural person concerned.

 

With a view to obtaining this consent, BIOPHYTIS will notify to the INSTITUTION concerned, in a precise manner, the operation referred to as well as the form of such representation, its duration and the context in which BIOPHYTIS wishes to utilise the distinctive sign, trade name, registered company name, trade mark, image, logo or figurative sign of one or more INSTITUTIONS.

 

It is understood that in the event that the INSTITUTION or INSTITUTIONS concerned give their written consent for the utilisation requested by BIOPHYTIS, they may suspend such authorisation at any time if the disclosure made by BIOPHYTIS no longer corresponds to that described in the notification described in the previous paragraph, whether in terms of form, context, geographic location or duration, or if it could result in a worsening of the image of one or more of the INSTITUTIONS.

 

In any event, and even though an INSTITUTION has given its authorisation for the use planned by BIOPHYTIS, the distinctive signs, trade names, registered company names, trademarks, images, logos or figurative signs belonging to one or more INSTITUTIONS cannot be utilised by BIOPHYTIS in a manner which, by the form and/or the context used, may be interpreted as any guarantee granted by the INSTITUTIONS for any product or service whatsoever developed and/or marketed by BIOPHYTIS.

 

BIOPHYTIS will impose the same obligations on any LICENSEE pursuant to Article 2.3 above.”

 

1.7                     Article 5.2.1 of the License Agreement is deleted and replaced as follows:

 

“5.2.1                      Annual royalties on NET SALES equal to:

 

·                      [****] of NET NUTRACEUTICAL SALES achieved in the year in question. This royalty will be payable on all NUTRACEUTICAL PRODUCTS sold in the countries of the TERRITORY, until the date of expiry or early termination of the LICENSE AGREEMENT;

 

·                      [****] of NET MEDICINAL SALES achieved in the year in question. This royalty will be payable on all MEDICINAL PRODUCTS sold in the countries of the TERRITORY, until the date of expiry or early termination of the LICENSE AGREEMENT.

 

If a PRODUCT is sold in a kit or in combination with other products that are not PRODUCTS, the NET SALES will be calculated by multiplying the NET SALES of the kit or combination by the fraction A/(A+B), where A is the price of the PRODUCTS during the year in question in the country in which the sale took place and B the sum of the prices of the other products or components of the kit or the combination during the year in question in the country in which the sale took place.

 

When the price of the PRODUCT and/or the price of the other products utilised in kit or in combination with the PRODUCT is not known to the SIGNATORIES, the SIGNATORIES will meet to negotiate in good faith the amount of the NET SALES owed on the PRODUCT sold in a kit or in combination with other products which are not PRODUCTS. If no price can be set in good faith between the SIGNATORIES, they will jointly appoint an expert who will then be tasked with determining the corresponding price.”

 

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1.8.                  Article 11.2 of the License Agreement is deleted and replaced as follows:

 

“11.2 Without prejudice to the stipulations of Articles 2.3, 4.3 and 6.4 above, this LICENSE AGREEMENT may be automatically terminated by one of the PARTIES or SATT LUTECH acting on behalf of the INSTITUTIONS, in case of non-fulfilment by another PARTY of one or more of the obligations contained in its various clauses, and in particular in Article 4 (Utilisation) and in Article 5 (Financial Conditions). This termination will become effective only three (3) months after the sending by the complaining PARTY, or SATT LUTECH acting on behalf of the INSTITUTIONS, of a registered letter with acknowledgement of receipt setting forth the reasons for the complaint, unless, within this period, the defaulting PARTY has fulfilled its obligations or has provided proof of an impediment resulting from a case of force majeure within the meaning of Article 1218 of the Civil Code.

 

It will be the defaulting PARTY’s responsibility to notify the other PARTIES and SATT LUTECH, as soon as possible of a case of force majeure as well as the cessation thereof. The defaulting PARTY must make all efforts to limit the duration and the effects of the case of force majeure in question and to quickly remedy the cause of the non-fulfilment and resume its obligation as soon as possible. The occurrence of a case of force majeure will cause, subject however to compliance with the aforementioned notification within the time limit allowed, the suspension of the obligation in question, it being understood that the defaulting PARTY will be exempt from its obligation only within the limit of said impediment.

 

Notwithstanding the preceding, if the case of force majeure persists more than six (6) months, this LICENSE AGREEMENT may be automatically terminated by the complaining PARTY by means of notification.

 

The exercise of the termination option defined in this Article 11.2 does not release the defaulting PARTY from fulfilling the obligations accepted until the effective date of the termination, without prejudice to the payment of damages owed by the defaulting PARTY for the loss potentially sustained by the other PARTIES due to the early termination of this LICENSE AGREEMENT.

 

In the event of termination of this LICENSE AGREEMENT by the INSTITUTIONS or SATT LUTECH, for any cause other than a breach by BIOPHYTIS of the stipulations of Article 2.3 above, the INSTITUTIONS undertake to take over on their own account and to maintain any license granted by BIOPHYTIS.”

 

1.9                     Article 13.1 of the License Agreement is deleted and replaced as follows:

 

“13.1 Any notification required in connection with the fulfilment of this LICENSE AGREEMENT will be considered legal from the moment that it is sent by registered letter with acknowledgement of receipt to the addresses indicated below. Any change of address of BIOPHYTIS must be notified to SATTLUTECH, which will be responsible for forwarding it to the INSTITUTIONS. Any change of address of the INSTITUTIONS or SATT LUTECH must be notified to BIOPHYTIS.

 

For SATT LUTECH:

SATT LUTECH

To the attention of its President

4-4bis rue de Ventadour, 75001 PARIS

Telephone: 01 78 94 68 51

Email: licensing@sattlutech.com

Ref. SATT to be specified: LIC3-2015-0011

 

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For SU and the INSTITUTIONS:

SORBONNE UNIVERSITY

Directorate General for Research and Innovation (DR&I)

Office of Development of Contractual Activity

4 place Jussieu

75252 PARIS cedex 05

Telephone: 01 44 27 30 65

 

For BIOPHYTIS:

BIOPHYTIS

14 Avenue de l’Opéra

75001 Paris

Email: stanislas.veillet@biophytis.com

 

Any notice will be deemed to have been carried out on the day when it was actually received by its intended recipient.

 

Any other written communication required by this LICENSE AGREEMENT may be effected by any written means, including by email.”

 

1.10              Annex 1 of the License Agreement is deleted and replaced by Annex 1bis attached to this Amendment No. 1 which includes the three (3) new patents.

 

ARTICLE 2: INTANGIBILITY OF THE UNAMENDED CLAUSES

 

All other provisions of the License Agreement, not amended by Amendment No. 1, will remain in full force.

 

ARTICLE 3: EFFECTIVE DATE

 

Amendment No. 1 will enter into force on the date of its signature by the last SIGNATORY to sign.

 

IN WITNESS WHEREOF, the SIGNATORIES signed this Amendment No. 1 in triplicate through their respective duly authorised representatives on the date indicated below.

 

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Signed in four (4) originals drawn up in French, one (1) for each of the SIGNATORIES and one (1) for the purpose of registration with the National Register of Patents.

 

 

	
For BIOPHYTIS
    	
 
    	
For SATT LUTECH
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
/s/ Jacques   Pinget
    
	
/s/ Stanislas Veillet
    	
 
    	
[logo:]   SATT LUTECH
    
	
[stamp:] BIOPHYTIS   14 avenue de l’Opéra 75001 PARIS SA with share capital of €2,692,682.60 — RCS   [Trade and Companies Register] PARIS 492 002 225

Name:   STANISLAS VEILLET

Position:   Managing Director

Signed at:   Paris

On:
    	
 
    	
[stamp:] SATT LUTECH S.A.S. 4 and 4bis Rue de Ventadour, 75001   Paris SIRET [French businesses directory] 539 984 500 00030 VAT   No. FR 65 539 984 500 contact@sattlutech.com

Name:   Jacques PINGET

Position:   President

Signed at:   Paris

On: [stamp]   27 MARCH 2019
    
	
 
    
	
 
    
	
 
    
	
 
    
	
 
    
	
 
    	
 
    	
 
    
	
For SORBONNE UNIVERSITY
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
/s/ Jean Chambaz
    	
 
    	
 
    
	
Name: Jean   CHAMBAZ
    	
 
    	
 
    
	
Position:   President
    	
 
    	
 
    
	
Signed at:   Paris
    	
 
    	
 
    
	
On: [hw:] 02/04/2019
    	
 
    	
 
    
	
[stamp:]   Sorbonne University
    	
 
    	
 
    
	
For the   president and by delegation
    	
 
    	
 
    
	
Bruno   Bachimont
    	
 
    	
 
    
	
Deputy   Director of the SAIC
    	
 
    	
 
    

 

8

 

ANNEX 1bis - List of PATENTS

 

	
No.
    	
 
    	
Declaration of
   invention (UPMC
   ref.)
    	
 
    	
Declaration of
   invention (SATT
   LUTECH ref.)
    	
 
    	
Priority application
   filing No.
    	
 
    	
Priority
   application
   filing date
    	
 
    	
Priority application title
    	
 
    	
Co-owners
    
	
PATENT 1
    	
 
    	
X07059
    	
 
    	
SL00419
    	
 
    	
FR0759478
    	
 
    	
30/11/2007
    	
 
    	
Utilisation   of phytoecdysones in the preparation of a compound to act on metabolic   syndrome
    	
 
    	
BIOPHYTIS
    
    UPMC
    
    CNRS
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
PATENT 2
    	
 
    	
X10100
    	
 
    	
SL00420
    	
 
    	
FR1160280
    	
 
    	
10/11/2011
    	
 
    	
Phytoecdysones   for use in stabilisation of weight after a weight-loss diet
    	
 
    	
BIOPHYTIS
    
    UPMC
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
PATENT 3
    	
 
    	
X13O98
    	
 
    	
SL00422
    	
 
    	
FR1161519
    	
 
    	
13/12/2011
    	
 
    	
Phytoecdysones   for use in improving the muscle quality of obese and/or sarcopenic mammals
    	
 
    	
BIOPHYTIS
    
    UPMC
    
    INRA
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
PATENT 4
    	
 
    	
X14039
    	
 
    	
SL00421
    	
 
    	
FR1454538
    	
 
    	
20/05/2014
    	
 
    	
Derivatives   of 20-hydroxyecdysone and their use in the preparation of drugs
    	
 
    	
BIOPHYTIS
    
    UPMC
    
    METABRAIN RESEARCH
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
PATENT 5
    	
 
    	
X17066
    	
 
    	
SL00785
    	
 
    	
FR1753775
    	
 
    	
28/04/2017
    	
 
    	
Extract of   20-hydroecdysone of pharmaceutical quality, its use and its preparation
    	
 
    	
BIOPHYTIS
    
    SORBONNE UNIVERSITY
    

 

[signature] [stamp:] JP

 

9

 

	
PATENT 6
    	
 
    	
X17102
    	
 
    	
SL00786
    	
 
    	
FR1758071
    	
 
    	
31/08/2017
    	
 
    	
Utilisation   of 20-hydroecdysone and its derivatives in the treatment of myopathies
    	
 
    	
BIOPHYTIS
    
    SORBONNE
    UNIVERSITY
    
    CNRS
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
PATENT 7
    	
 
    	
X18078
    	
 
    	
[hw:] SL00942
    	
 
    	
FR1851778
    	
 
    	
28/02/2018
    	
 
    	
Photoecdysones   for use in the prevention of loss of muscle strength during a period of   immobilisation
    	
 
    	
BIOPHYTIS
    
    SORBONNE
    UNIVERSITY
    

 

[signature] [stamp:] JP

 

10Exhibit 10.7

 

PORTIONS OF THIS EXHIBIT IDENTIFIED BY [*****] HAVE BEEN EXCLUDED  FROM THIS EXHIBIT BECAUSE THE EXCLUDED  INFORMATION IS BOTH (I) NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED.

 

Translation for information purposes only

 

CO-OWNERSHIP AGREEMENT
 L08142

 

BETWEEN THE UNDERSIGNED

 

1°)                   BIOPHYTIS INSTITUTE, simplified joint-stock company with a capital of €63,000, SIRET no. 492002225000018, whose registered office is located at 14 avenue de l’Opéra 75001 Paris, represented by its Chairman, Mr Stanislas VEILLET, hereinafter referred to as the “COMPANY”,

 

ON THE ONE HAND,

 

And

 

2°)                   UNIVERSITE PIERRE ET MARIE CURIE (Paris 6),  scientific, cultural and professional public institution, SIRET No.: 19751722000012 — APE code: 803Z, located 4 place Jussieu - 75252 PARIS Cedex 05, represented by its Chairman, Mr Jean-Charles POMEROL, hereinafter referred to as “UPMC”,

 

And

 

3°)                   The CENTRE NATIONAL DE LA RECHERCHE SCIENTIFIQUE, scientific and technological public institution, whose registered office is at 3, rue Michel-Ange, 75794 PARIS Cedex 16, whose European VAT number is FR40180089013 , SIRET number 180089013 03720, APE code 7219Z, represented by its Managing Director, Mr Arnold MIGUS, hereinafter referred to as “CNRS”.

 

The CNRS and TUPMC acting in their own name and on behalf of the Laboratory entitled “Protein: structural and functional biochemistry” FRE 2852, hereinafter called the “LABORATORY”.

 

FURTHERMORE

 

The UPMC and the CNRS are hereinafter referred to jointly as the “ESTABLISHMENTS”.

 

The UPMC, the CNRS and the COMPANY are hereinafter jointly referred to as “PARTIES” and individually as “PARTY”.

 

	
CONFIDENTIAL
    	
 
    

 

1

 

IT IS RECALLED THAT:

 

In the context of research within the LABORATORY, René LAFONT, UPMC agent and Mr Stanislas VEILLET of the COMPANY have developed an invention relating to use of phytoecdysteroids in the preparation of a composition for action on metabolic syndrome.

 

This invention being protected by industrial property, a French patent application under NO. 0759478 was filed as a precaution on 30 November 2007 jointly in the names of both the COMPANY and the UPMC.

 

Under this agreement, the UPMC and the COMPANY wish to formalise the co-ownership between the PARTIES on the patent application mentioned above as well as its extensions and determining the rights and obligations of each PARTY, particularly in regards to the use of the invention referred to above.

 

The COMPANY made it known in a letter dated 26 June 2008 sent for the attention of the UPMC, on behalf of the ESTABLISHMENTS, that it wants to qualify for exclusive operation of the PATENTS as defined below, in the area of nutrition and herbal medication. The PARTIES have agreed to define the terms of this exclusive exploitation by separate agreements (hereinafter “LICENSE AGREEMENT”) signed concomitantly with this contract.

 

THEREFORE, THE PARTIES HAVE AGREED AS FOLLOWS:

 

Preliminary Article - DEFINITIONS

 

CONFIDENTIAL INFORMATION,  means any confidential information or any protected information not yet published, belonging to PARTIES or one of the PARTIES, relating to the invention protected by PATENTS, or relating to KNOW-HOW, whether its form is written, graphic, verbal, or in any other form.

 

COSTS OF INDUSTRIAL PROPERTY,  means the costs incurred for- the preparation process, of filing, obtaining, extension, issue and maintenance of the PATENTS, to defend the PATENTS before any Patent Office and in particular for appeal proceedings, interference, opposition, reviews or reissues. The COSTS OF INDUSTRIAL PROPERTY do not include any costs incurred due to infringement procedures.

 

DOMAIN, means the area of food and phytotherapeutics medicine

 

EFFECTIVE DATE, refers to the date of filing the French application patent under no. 0759478, i.e., 30 November 2007.

 

INVENTORS, refers to René LAFONT and Stanislas VEILLET.

 

KNOW-HOW, means all scientific and technical information, whether they are written, graphs or verbal, regardless of the medium used, developed by the INVENTORS until the EFFECTIVE DATE and necessary for the sole implementation of the PATENTS. A

 

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description of the KNOW-HOW is attached in Appendix 1 which forms an integral part of this agreement.

 

PATENTS  means:

 

·       The application for a French patent lodged on behalf of the COMPANY and the UPMC, on 30 November 2007 under the number NO. 0759478, entitled “Use of phytoecdysteroids in the preparation of a composition for action on metabolic syndrome”, and quoting as inventors René LAFONT and Stanislas VEILLET,

·        any patent application made abroad or in France on the basis of this request, any continuation, partial continuation, addition, division, patents that are created as a result or any equivalent titles, as well as any patent re-filed, reissued, or reviewed, as well as any Additional Protection Certificates.

 

SHARE,  refers to the sharing of ownership of the PATENTS of each PARTY, as defined in article 1.1 below.

 

Words in singular can be understood in plural and vice versa.

 

Article 1 - PURPOSE AND SCOPE OF THE AGREEMENT

 

1.1                The UPMC and the COMPANY confer free of charge to the CNRS, which accepts, twenty-five per cent (25%) of ownership rights to the PATENTS and on the attached priority right.

 

Consequently, the PARTIES agree that they co-own the PATENTS and the attached priority rights as follows:

 

·                  fifty percent (50%) for the COMPANY,

·                  twenty-five per cent (25%) for the CNRS,

·                  twenty-five per cent (25%) for the UPMC,

 

and they jointly hold the KNOW-HOW.

 

1.2                Therefore, the PARTIES wish to officialise the applicable rules to the co-ownership of PATENTS and on the KNOW-HOW held in common as well as the rights and obligations resulting therefrom.

 

3

 

Article 2-TERM

 

As from when it was last signed by the PARTIES, this contract will take effect retroactively from the EFFECTIVE DATE, and will remain in force, unless terminated earlier, until expiry or discontinuation of the PATENTS.

 

Article 3 - FILING, EXTENSION, DELIVERY AND CONTINUANCE ENFORCEMENT OF THE PATENTS

 

3.1                  The PARTIES mutually agree that the COMPANY will be responsible for managing the PATENTS which it co-owns with the ESTABLISHMENTS, both in France and abroad and that it will bear the COSTS OF INDUSTRIAL PROPERTY.

 

In the event of a failure to pay by the COMPANY of sums due in respect of the COSTS OF INDUSTRIAL PROPERTY, the ESTABLISHMENTS may decide to advance the COSTS OF INDUSTRIAL PROPERTY that are owed by COMPANY. This advance shall constitute a binding debt for the COMPANY in favour of the ESTABLISHMENTS that will then be entitled to make a formal demand for the COMPANY to pay the sums owed and, if necessary, use any procedures they deem useful for the recovery of the receivables.

 

3.2                  The COMPANY undertakes to consult in writing with the UPMC on behalf of the ESTABLISHMENTS, before commencing any legal action in relation to the procedures or to the choice of countries for any of the PATENTS. The UPMC, on behalf of the ESTABLISHMENTS, must be given a copy of any document relating to such procedures sufficiently in advance to allow it, where applicable, to submit its comments before maturity. It is more notably understood between the PARTIES that the text of any PATENT shall be communicated by the COMPANY to the UPMC for approval before its filing with a Patent Office.

 

Failure to reply within the thirty (30) days following receipt of the above-mentioned documents by the UPMC will be presumed as acceptance by the ESTABLISHMENT of the COMPANY’S proposition.

 

The PARTIES agree, subject to the reservations and conditions provided herein, to ensure that the members of their personnel cited as INVENTORS provide the necessary signatures and take steps for which they are responsible as necessary for the lodging as an inventor and, by extension, to the issuing and maintenance of the PATENTS and, more generally, to any procedure of Industrial Property relating to the PATENTS. Furthermore, subject to the reservations and conditions provided herein, the PARTIES agree to provide any signature and all necessary documents to the procedures for the PATENTS referred to above and, more generally, for any procedure of Industrial Property relating to the PATENTS.

 

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3.3                  If one of the PARTIES does not wish to maintain a deed in force, or to pursue a procedure to extend abroad (including international PCT application), of transition in phases that are national/regional, in review, in obtention, or to be delivered or defended by a PATENT’ in one or more countries, they will notify in writing the other PARTIES at least three (3) months before the expiry date of the Industrial Property so that they can, if they wish, continue in their own name, at their own discretion and at their own expense the procedures referred to above in those countries, either in France or abroad. In the event that said PARTIES would like to continue at their own discretion this or these procedure(s), they will acquire, within their rights and free of charge, the full and sole ownership of said PATENT. In this case, this PARTY will no longer benefit from any right of industrial or commercial exploitation on the PATENT and on the KNOW-HOW in the country concerned and will lose all its rights to royalties and other sums from the exploitation of the PATENTS and/or the KNOW-HOW in the countries concerned.

 

The waiving PARTY undertakes to provide without delay or charge all of the signatures and documents required for the assignment under its SHARE of ownership over the PATENTS and to ensure that its INVENTOR gives all signatures and fulfils any formalities necessary for the intellectual property procedures pursued by the other PARTIES.

 

Furthermore if one of the PARTIES decides to abandon its rights to the PATENTS in one or more countries given, the COSTS OF INDUSTRIAL PROPERTY paid for those countries by the waiving PARTY prior to its decision to abandon may not under any circumstances be reimbursed. The decision to abandon does not absolve the waiving PARTY from settling their share of the COSTS OF INDUSTRIAL PROPERTY incurred for these countries given until notification of the abandonment. In any country where other PARTIES choose to continue alone the procedures for application, Extensions, certification and maintenance of the PATENTS, the corresponding COSTS OF INDUSTRIAL PROPERTY will be the sole responsibility of said PARTIES.

 

3.4                  The COMPANY and the ESTABLISHMENTS will personally see to compensation and possible indemnities for their respective INVENTOR.

 

Article 4 - EXPLOITATION AND USE OF THE PATENTS

 

4.1                  Use for purposes of research:

 

The ESTABLISHMENTS are free to use the invention which is the subject of the PATENTS and the KNOW-HOW for research/ exclusively, alone or in conjunction with third parties/subject to the requirement to maintain the confidentiality of CONFIDENTIAL INFORMATION, The ESTABLISHMENTS will maintain this rights of free usage of the PATENTS and the KNOW-HOW, for research purposes, even in cases of disposal or abandonment of their SHARE of ownership over all or part of the PATENTS.

 

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4.2                 Operation in the DOMAIN.

 

The COMPANY advised by letter dated 26 June 2008 sent to the attention of the UPMC, on behalf of the ESTABLISHMENTS, wants to benefit from the exclusive rights of operation of the PATENTS and the KNOW-HOW in the DOMAIN, that the ESTABLISHMENTS accept provided that the PARTIES agree on the conditions of granting such exclusivity in the context of the LICENSE AGREEMENT.

 

If no longer able to benefit from exclusive operation granted to the COMPANY in accordance with the first paragraph of this article and in the LICENSE AGREEMENT, it is hereinafter agreed that the PARTIES will then immediately cooperate in order to define in good faith the operating procedures for the PATENTS and the KNOW-HOW in the DOMAIN, in the best interest of the PARTIES.

 

The COMPANY recognises that the ESTABLISHMENTS may propose to them a third party interested by the use of all or part of the PATENTS and/or the KNOW-HOW in the DOMAIN. The COMPANY will have one (1) month from the notification sent by the ESTABLISHMENTS to refuse to provide the operating license to another third party if the COMPANY can demonstrate in writing that such exploitation is likely to violate its industrial and commercial strategy. After this deadline and without written response from the COMPANY, the agreement of the COMPANY for such exploitation by the third party will be considered as granted. In the event that the COMPANY should be opposed to an operation proposed by the ESTABLISHMENTS, the PARTIES will negotiate a fair compensation for the ESTABLISHMENTS.

 

The COMPANY also acknowledges, that if no due diligence is made to seriously exploit the PATENTS and the KNOW-HOW upon which it has a right to use, it may not oppose the granting of an operating license of the PATENTS and the KNOW-HOW to a third party proposed by the ESTABLISHMENTS.

 

Furthermore, it is already understood between the PARTIES that any operation directly or indirectly of all or part of the PATENTS and/or the KNOW-HOW shall give rise to remuneration for the PARTIES and a specific contract defining the operating conditions will be drawn up before being used.

 

4.3                 Operating outside the DOMAIN :

 

Outside of the DOMAIN, the PARTIES will cooperate at the written request of one of them to be defined by separate agreement, in good faith and in the best interest of the PARTIES the conditions of industrial and commercial operations of the PATENTS and the KNOW-HOW.

 

The COMPANY may not oppose an operation proposed by the ESTABLISHMENTS without good reason that should be brought to their attention, without delay and by registered letter with acknowledgement of receipt. In this case, the PARTIES will negotiate a fair compensation for the ESTABLISHMENTS.

 

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4.4                  Securities

 

4.4.1        Nothing in this agreement shall be interpreted as constituting any expressed or implied guarantee by one of the PARTIES, other than the physical existence of the PATENTS and the KNOW-HOW.

 

Consequently, potential fluctuations, risks and perils for the fulfilment of the present contract and the licenses and any legal defects contained by one or more of the PATENTS are the sole responsibility of the operating PARTY, its subsidiaries and its licensees. The operating PARTY will notably make it their responsibility to identify and examine, if it deems this necessary, the rights of third parties whose PATENTS and/or KNOW-HOW may depend and assess the scope of those rights of third parties.

 

4.4.2        The operating PARTY may not make a warranty call on the other PARTIES in the case of loss or damage of any nature that may be caused by the use of PATENTS, the KNOW-HOW and/or products implementing the PATENTS and/or KNOW-HOW, the operating PARTY is liable towards its clients and/or any third party, the implementation of the PATENTS, the KNOW-HOW and the quality and performance of the products it is operating.

 

The operating PARTY guarantees the other PARTIES and their employees, against any appeal that might be brought against them as a result of damages to persons or property, suffered in connection with the use of the PATENTS and/or the KNOW-HOW and marketing products used by the operating PARTY. The operating PARTY /waives the right to take any action against other PARTIES in the case where these claims, requests, proceedings, shares are made against the operating PARTY and are licensed by a third party.

 

The operating PARTY agrees to ensure this commitment by its subsidiaries and licensees.

 

4.4.3        The operating PARTY will ensure that it, it’s subsidiaries and licensees have the necessary insurance to sufficiently cover their accountability in respect of this agreement.

 

4.4.4        In the event of rejection, cancellation of one or more PATENTS, the dependency of such PATENTS, and/or KNOW-HOW on a previously dominating patent, in the event the products as a result of the use of PATENTS and/or the KNOW-HOW were declared by a final court decision as counterfeit, other PARTIES will not be held accountable for either the restitution of the monies already gained from the operating PARTY, or for the reduction in monies until the date of final court decision, or to pay any compensation due by the operating PARTY, its subsidiaries and/or its licensees as compensation for the damage caused by the rejection, the aforementioned cancellation, dependency or counterfeiting.

 

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4.4.5        The provisions of this article 4.4 shall remain in force notwithstanding the maturation or termination of the contract.

 

Article 5 -TRANSFER OF SHARE OF PATENTS

 

5.1                  Each PARTY may transfer at any time its SHARE for all or part of the PATENTS and its rights in regards to the KNOW-HOW. The transferring PARTY must first notify the other PARTIES of its intention to sell such rights, and send the name, the potential transferee’s address and the financial sales conditions. This information is made on a confidential basis, Article 6 detailed below being applicable. Other PARTIES have a pre-emptive right over a period of [****] from receipt of such notice. They will notify, within this period, their decision to the transferring PARTY by registered letter with acknowledgement of receipt.

 

Other PARTIES may also, refuse the transferee if they can reasonably demonstrate in writing, within [****] from the date of notification, that assignment with such transferee creates a serious quarrel with their articles of association, activities and/or assignments.

 

Without exercise of the pre-emption right or right to refuse by the other co-owning PARTIES expiry of this period of [****] the transferring PARTY will benefit from an authorization to transfer to a potential third party, under the conditions stipulated in the first notification sent by the transferring PARTY to the other PARTIES.

 

However, the COMPANY acknowledges that it will  not benefit from any pre-emption right over the ownership of the SHARE of UPMC or of CNRS if the potential transferee is the CNRS, the UPMC or René Lafont.

 

The terms for the transfer of PATENTS and KNOW-HOW to a third party must not under any circumstances be more favourable than those offered to other PARTIES.

 

5.2                  In the event of an assignment of a SHARE of all or part of the PATENTS or rights to the KNOW-HOW to a third party, the deed of transfer shall stipulate that the transferee undertakes to assume all the obligations incumbent upon the transferor under this agreement,

 

5.3                  The transferring PARTY undertakes to provide the other PARTIES all signatures and all the necessary documents for the Intellectual Property proceedings relating to the PATENTS.

 

In addition to this, the transferring PARTY undertakes to ensure that its personnel members cited as inventors provide the necessary signatures and take steps necessary for the filing and the maintenance of the PATENTS and, more generally, to any Intellectual Property proceedings relating to said PATENTS.

 

This article 5.3 shall remain in force notwithstanding the expiry or termination of the this agreement

 

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Article 6 - CONFIDENTIALITY

 

6.1                  Each PARTY agrees to respect and to keep confidential all CONFIDENTIAL INFORMATION received from other PARTIES.

 

6.2                  The PARTIES undertake to have their staff and any person attached to their service in any capacity whatsoever observe the same commitment, and to make sure that they respect this confidentiality commitment as regards the CONFIDENTIAL INFORMATION.

 

6.3                  Each PARTY undertakes not to submit an application to claim any other kind of intellectual property including CONFIDENTIAL INFORMATION received from other PARTIES, unless specifically agreed in writing with the PARTIES concerned.

 

6.4                  The confidentiality commitments between the PARTIES through this agreement do not apply to the use or the disclosure of CONFIDENTIAL INFORMATION for which the receiving PARTY can demonstrate:

 

a)            that they have been disclosed after prior obtention of written authorisation from the owning PARTY, or that disclosure was conducted by the owning PARTY,

 

b)            that it was in the public domain at the time of its disclosure or was published or made available to the public, in any manner whatsoever, without action or fault on the part of the recipient PARTY,

 

c)             that have been received by the receiving PARTY from a third party without any breach of this agreement,

 

d)            that at the date of its communication by the owner PARTY that provided it, the recipient PARTY was already in possession of this information,

 

e)             that its disclosure was imposed by the application of a mandatory legal or regulatory provision or by the application of a final court decision or an arbitral award.

 

The aforementioned exceptions are not cumulative.

 

6.5                  Notwithstanding the stipulations of the above Article 6.1, the PARTIES agree that any disclosure to third parties of any CONFIDENTIAL INFORMATION that is key to the development of the PATENTS or the KNOW-HOW cannot be refused. However, such disclosure must be preceded by the signing of a confidentiality agreement whose terms and conditions will at least be similar to those in this article.

 

6.6                  This article shall remain in force notwithstanding the expiry or termination of this agreement.

 

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Article 7 - INFRINGEMENT — VALIDITY OF PATENTS

 

7.1                  In the event of a declaration of invalidity, or infringement of the PATENTS by a third party, the PARTIES will mutually provide all the elements in their possession needed to assess the nature and extent of these and shall consult to determine a mutual agreement of the strategy to be maintained.

 

In a case where consensus could not be achieved, each PARTY may exercise alone and at its own expense the actions that it deems appropriate, it being understood that, in this case, compensation resulting from said shares allocated by the deliberating court are fully and irrevocably the property of the acting PARTY.

 

The PARTIES agree to provide all documents, powers or information that is necessary for the acting PARTIES aforementioned prosecution for the above actions.

 

7.2                  Pursuant to the provisions of Article 4.4 above, each PARTY acknowledges that it is their sole responsibility to identify and examine, if it deems this necessary, the rights of third parties when exploitation by said PARTY of the PATENTS and/or the KNOW-HOW could be dependent on said third party rights.

 

Consequently, the PARTIES agree that in the event of indictments being made by a third party, the acting PARTIES currently in question will take sole ownership of the costs of their own defence. The PARTIES in question will be personally liable  for the potential sanctions pronounced against it by the courts, notwithstanding any solidarity that could be expressed towards them.

 

In particular, the COMPANY acknowledges that, for any operation where they will directly or indirectly apply the PATENTS and/or the KNOW-HOW, where legal proceedings for infringement are exercised against the COMPANY, the COMPANY will exonerate the ESTABLISHMENTS. In accordance with Article 4.4, the COMPANY undertakes not to call the ESTABLISHMENTS and/or its INVENTORS into guarantee for any reason whatsoever.

 

Where legal proceedings for infringement are exercised against the COMPANY or against its licensees and/or subsidiaries, it will immediately notify the ESTABLISHMENTS. No compensation, no reimbursement of monies paid, or reductions of the outstanding receivables at the time of the court’s decision may be claimed off the ESTABLISHMENTS

 

The COMPANY undertakes to have its subsidiaries and licensees undertake the same commitments.

 

7.3                  Each PARTY renounces the right to pursue the other PARTIES in regard to the consequences on the validity of PATENTS due to a share as a claimant or defendant conducted by the latter.

 

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7.4                  Articles 7.2, and 7.3 of this agreement shall remain in full force and effect notwithstanding expiry or termination of this agreement.

 

Article 8 — TERMINATION

 

The contract will automatically be terminated in the event that one of the PARTIES becomes sole owner of all the PATENTS.

 

The provisions provided for in articles 3.4, 4.1, 4.4, 5.3, 6, 7.2, 7.3, 10, 11, 12, 13, 14, 15 and 17 shall remain in force notwithstanding the expiry or termination of this agreement.

 

In the event of termination, the PARTIES which are no longer owners undertake, in accordance with Article 3.3, not to operate and to not allow direct or indirect exploitation of the PATENTS and/or the KNOW-HOW until they expire.

 

Article 9- TRANSFER OF THE AGREEMENT

 

This agreement is personal, non-transferable, subject to the provisions of article 5 above.

 

Article 10 - NAMES OF THE PARTIES

 

10.1           The COMPANY undertakes not to use either in writing or verbally the name, the trade name, the brand or other designation or distinctive sign belonging to the UPMC or to the CNRS, or any of their agents, including in a shortened or imitated format, within the scope of operating and/or any promotional activity and this, regardless of the mediums used (advertising, posters, video..), without having obtained prior, written approval from the relevant PARTY.

 

Pursuant to the above, any operation of the PATENTS and/or the KNOW- HOW by the COMPANY will be conducted under its own brand or under the trademarks for which it will need to be regularly licensed.

 

However, solely for information purposes information on the origin of the PATENTS and KNOW-HOW, the reference “Technologie Biophytis”! UPMC/CNRS” may appear on any advertising, technical or explanatory notice relating to products operated by the COMPANY and its licensees. The COMPANY will ensure that this statement, by its form and the context in which it is placed, cannot be interpreted as a warranty given by the ESTABLISHMENTS for the products operated.

 

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The COMPANY may, whenever required by the law of a country, affix or have affixed on the products the reference “Technologie Biophytis/UPMC/CNRS” branding, or any other equivalent notice approved in advance and in writing by the ESTABLISHMENTS.

 

10.2           Any declaration or public communication relating to the execution of this agreement and the statement, in this context exclusively, in the name of the PARTIES or one of their agents or employees may be made freely. On the other hand, any declaration or public communication relating to its contents will be made only upon the written agreement of all the PARTIES.

 

10.3           The provisions specified in sub-clause 10.1. do not forbid one of the PARTIES from referring to other PARTIES in any documentation established for the needs of any administrative, regulatory or judicial procedure, or for information by the ESTABLISHMENTS of third parties involved in the PATENTS, for example organizations such as the OSEO who assist with technology transfer.

 

10.4           The COMPANY may affix or have affixed on the products it sells the number of PATENTS whenever required by the laws of a country.

 

10.5           The COMPANY will ensure that its subsidiaries and its licensees are bound by the same obligations in regard to the ESTABLISHMENTS as those set forth in article 10. The provisions of article 10 shall remain in force notwithstanding the expiry or termination of this agreement.

 

Article 11 - WAIVER

 

The fact that one of the PARTIES does not invoke a breach by another PARTY of any obligations set forth in this agreement shall be construed in the future as constituting a waiver by the initial PARTY in question.

 

Article 12- APPLICABLE LAW - DISPUTES

 

12.1           This agreement is governed by French laws and regulations.

 

12.2           In cases of difficulty on the existence, interpretation or execution of this agreement, the PARTIES endeavour to resolve their differences amicably.

 

12.3           The occurrence of a dispute will be materialised by sending a registered letter with acknowledgement of receipt, by one of the PARTIES to the other PARTIES, outlining the reasons for the dispute. In the event of a persistent disagreement, the dispute shall be brought by the most diligent PARTY before competent French courts.

 

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12.4           This article will remain in force notwithstanding the expiry or termination of this agreement.

 

Article 13 - ENTIRE AGREEMENT

 

This agreement sets out all the obligations of the PARTIES relating to the co-ownership of the PATENTS and the KNOW-HOW and can only be modified by a written agreement between the PARTIES signed by the representatives of the PARTIES duly authorised for this purpose. None of the general or specific conditions contained in the documents sent or delivered by the PARTIES may be integrated into this agreement.

 

Article 14 INVALIDITY OF A CLAUSE

 

If one or more stipulations of this contract are considered invalid or declared as such under any law, regulation - and in particular, European Union law - or following the final ruling of competent jurisdiction, the other stipulations shall retain their full pertinence and scope, and the PARTIES will proceed without delay with the required modifications in accordance with, to the fullest extent possible, the agreement existing at the time of signature of this contract.

 

Article 15 -TITLES

 

In the event of difficulties of interpretation between any titles at the heading of clauses and any of the clauses, the titles will be declared non-existent.

 

Article 16 - REGISTRATION ON THE NATIONAL PATENTS REGISTER

 

The COMPANY will register, at its expense, this agreement in the National Patents Register, held by the National Institute of Industrial Property, and the national patent registers required by the national offices of Industrial Property concerned by the PATENTS.

 

Article 17 — ENHANCEMENTS

 

Unless is agreed otherwise in writing by the PARTIES, the existence of this agreement shall in no case be construed as conferring, implicitly or expressly, any rights, particularly for ownership and/or use of the improvements made by each of the PARTIES to the PATENTS and/or the KNOW-HOW, each PARTY will retain ownership of its own enhancements..

 

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Article 18-NOTICES

 

18.1           Any notice required under this agreement shall be carried out by registered letter with acknowledgement of receipt, to the PARTY concerned at the following address:

 

For the COMPANY:

Biophytis

14 avenue de l’Opéra

75001 Paris

 

For the ESTABLISHMENTS:

Université Pierre et Marie Curie

DRITT-SAIC

Réf:X07026

4 Place Jussieu

75252 Paris codex 05

 

Any notice shall be deemed to have been given  on the day it was actually received by the addressee, unless the date of receipt is a holiday or a period of closure of the relevant department in which case, it shall be deemed to have been received on the following working day.

 

18.2           Any change of address must be provided in writing to the other PARTIES, by registered letter with acknowledgement of receipt or any other equivalent notification procedure.

 

18.3           Each Party undertakes to sign, ratify and authenticate all documents required for the complete performance of this agreement.

 

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Drawn up in three (4) original copies in French, one (1) for each of the PARTIES and one (1) of which is for registration to the F INPI. .

 

	
Signed at Paris, on 9 JULY 2008
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
/s/ Stanislas Veillet
    	
 
    	
 
    
	
Mr   Stanislas VEILLET
    	
 
    	
 
    
	
Chairman of   the Biophytis institution
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Signed in   Paris, on the 08 JULY. 2008
    	
 
    	
Signed in   Paris, 10 JULY. 2008
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
March J.LEDOUX
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
/s/ Arnold Migus
    	
 
    	
/s/ Jean-Charles Pomerol
    
	
Mr Arnold   MIGUS
    	
 
    	
Mr   Jean-Charles POMEROL
    
	
Chief   Executive Officer of the CNRS
    	
 
    	
Chairman of   the UPMC
    

 

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Annex 1:

 

Description of the KNOW-HOW

 

1)            All data, that is not published, obtained by the INVENTORS, from animal models with metabolic syndromes, on the effect of the 20 hydroxyecdysone regarding the revolution of body fat.

 

2)            Development and clarification of the extraction and enhancement procedures for the extraction of quinoa in phytoecdysteroids.

 

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