Document:

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                                                                   EXHIBIT 10.25

                               INDEMNITY AGREEMENT

THIS AGREEMENT is entered into on the ________day of ___________ 2005.

BETWEEN:

            ASPREVA PHARMACEUTICALS CORPORATION, a company incorporated under
            the laws of British Columbia, and having its address at 2500 - 700
            West Georgia Street, Vancouver, BC, V7Y 1B3

            (the "Company")

AND:

            -

            (the "Indemnitee")

            WHEREAS, the Indemnitee has agreed to serve, at the request of the
Company, as a Director or Officer of the Company;

            AND WHEREAS the Company wishes to indemnify the Indemnitee for
liabilities and expenses that may be incurred in connection with the
Indemnitee's services on behalf of the Company;

            NOW, THEREFORE, in consideration of the premises and the mutual
covenants and agreements contained herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto agree as follows:

1.    AGREEMENT. This Agreement shall supersede and replace entirely the
      indemnity agreement entered into between the Indemnitee and the Company
      dated March 5, 2004.

2.    DEFINITIONS. In this Agreement, except as otherwise expressly provided:

      (a)   the term "Associated Corporation" means a corporation or entity
            referred to in paragraph (b)(ii) and (iii);

      (b)   the terms "Director" and "Officer" include:

            (i)   the Indemnitee's service as a director or officer of the
                  Company;

            (ii)  the Indemnitee's service as a director or officer of another
                  corporation:

                  (A)   at a time when the corporation is or was an affiliate of
                        the Company as defined in the Business Corporations Act
                        (British Columbia), as amended from time to time, or any
                        successor legislation; or

                  (B)   at the request of the Company; or

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            (iii) at the request of the Company, the Indemnitee's service in a
                  position equivalent to that of a director or officer of a
                  partnership, trust, joint venture or other unincorporated
                  entity;

      (c)   the term "Eligible Penalty" means a judgment, penalty or fine
            awarded or imposed in, or an amount paid in settlement of, an
            eligible proceeding;

      (d)   the term "Eligible Proceeding" means a proceeding in which an
            Indemnitee or any of the heirs and personal or other legal
            representatives of the Indemnitee, by reason of the Indemnitee being
            or having been a director or officer of, or holding or having held a
            position equivalent to that of a director or officer of, the Company
            or an Associated Corporation:

            (i)   is or may be joined as a party; or

            (ii)  is or may be liable for or in respect of a judgment, penalty
                  or fine in, or expenses related to, the proceeding;

      (e)   the term "Expenses" includes costs, charges and expenses, including
            legal and other fees, but does not include judgment, penalties,
            fines or amounts paid in settlement of a proceeding; and

      (f)   the term "Proceeding" includes any legal proceeding or investigative
            action, whether current, threatened, pending or completed.

3.    INDEMNITY OF DIRECTOR OR OFFICER. Subject only to the limitations set
      forth in Section 4, the Company shall indemnify the Indemnitee against
      each Eligible Penalty to which the Indemnitee is or may be liable and,
      after the final disposition of an Eligible Proceeding, shall pay the
      Expenses actually and reasonably incurred by the Indemnitee in respect of
      that proceeding.

4.    LIMITATIONS ON INDEMNITY. Notwithstanding any other provisions of this
      Agreement, the Company shall not indemnify the Indemnitee against any
      Eligible Penalty or pay any Expenses of the Indemnitee:

      (a)   if the indemnity or payment is made under an earlier agreement to
            indemnify or pay Expenses and, at the time that the agreement to
            indemnify or pay Expenses was made, the Company was prohibited from
            giving the indemnity or paying the Expenses by its notice of
            articles or articles;

      (b)   if the indemnity or payment is made otherwise than under an earlier
            agreement to indemnify or pay Expenses and, at the time that the
            indemnity or payment is made, the Company is prohibited from giving
            the indemnity or paying the Expenses by its notice of articles or
            articles;

      (c)   if, in relation to the subject matter of an Eligible Proceeding, the
            Indemnitee did not act honestly and in good faith with a view to the
            best interests of the Company or the Associated Corporation, as the
            case may be;

      (d)   in the case of an Eligible Proceeding other than a civil proceeding,
            if the Indemnitee did not have reasonable grounds for believing that
            the Indemnitee's conduct in respect of which the proceeding was
            brought was lawful;

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      (e)   if the Company is prohibited by applicable law from making such
            payments;

      (f)   if such payments have been paid to, or on behalf of, the Indemnitee
            under an insurance policy, except in respect of any excess beyond
            the amount paid under such insurance;

      (g)   for which payments the Indemnitee is indemnified by the Company
            otherwise than pursuant to this Agreement; or

      (h)   resulting from a claim decided in an Eligible Proceeding adversely
            to the Indemnitee based upon or attributable to the Indemnitee
            gaining in fact any personal profit or advantage to which the
            Indemnitee was not legally entitled, including any profits made from
            the purchase or sale by the Indemnitee of securities of the Company.

5.    MANDATORY PAYMENT OF EXPENSES. The Company shall, after the final
      disposition of an Eligible Proceeding, pay the Expenses actually and
      reasonably incurred by the Indemnitee in respect of that proceeding if the
      Indemnitee:

      (a)   has not been reimbursed for those Expenses, and

      (b)   is wholly successful, on the merits or otherwise, in the outcome of
            the Eligible Proceeding or is substantially successful on the merits
            in the outcome of the Eligible Proceeding.

6.    ADVANCE PAYMENT OF EXPENSES. The Company shall pay, as they are incurred
      in advance of the final disposition of an Eligible Proceeding, Expenses
      actually and reasonably incurred by an Indemnitee in respect of that
      proceeding; provided, however, that Expenses of defence need not be paid
      as incurred and in advance where a court of competent jurisdiction has
      decided that the Indemnitee is not entitled to be indemnified pursuant to
      this Agreement or otherwise. The Indemnitee hereby agrees and undertakes
      to repay such amounts advanced if it is ultimately determined that the
      Indemnitee is not entitled to be indemnified by the Company pursuant to
      this Agreement or otherwise.

7.    ENFORCEMENT. If a claim under this Agreement is not paid by the Company,
      or on its behalf, within thirty days after a written claim has been
      received by the Company, the Indemnitee may at any time thereafter bring
      suit against the Company to recover the unpaid amount of the claim and if
      successful in whole or in part, the Indemnitee shall also be entitled to
      be paid the Expenses of prosecuting such claim.

8.    SUBROGATION. In the event of payment under this Agreement, the Company
      shall be subrogated to the extent of such payment to all of the rights of
      recovery of the Indemnitee, who shall execute all papers required and
      shall do everything that may be necessary to secure such rights, including
      the execution of such documents necessary to enable the Company
      effectively to bring suit to enforce such rights.

9.    NOTICE. The Indemnitee, as a condition precedent to the Indemnitee's right
      to be indemnified under this Agreement, shall give to the Company notice
      in writing as soon as practicable of any claim made against the Indemnitee
      for which indemnity will or could be sought under this Agreement. Notice
      to the Company shall be given at its principal office and shall be
      directed to the Corporate Secretary (or such other address as the Company
      shall designate in writing to the Indemnitee); notice shall be deemed
      received if sent by prepaid mail properly addressed, the date

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      of such notice being the date postmarked. In addition, the Indemnitee
      shall give the Company such information and co-operation as it may
      reasonably require.

10.   INDEMNIFICATION HEREUNDER NOT EXCLUSIVE. Nothing herein shall be deemed to
      diminish or otherwise restrict the Indemnitee's right to indemnification
      under any provision of the notice of articles or articles of the Company
      or under applicable corporate law.

11.   CONTINUATION OF INDEMNIFICATION. The indemnification under this Agreement
      shall continue as to the Indemnitee even though the Indemnitee may have
      ceased to be a Director or Officer and shall enure to the benefit of the
      heirs and personal representatives of the Indemnitee.

12.   COVERAGE OF INDEMNIFICATION. The indemnification under this Agreement
      shall cover the Indemnitee's service as a Director or Officer prior to or
      after the date of the Agreement.

13.   APPLICABLE LAW. This Agreement shall be governed by and construed in
      accordance with the laws of the Province of British Columbia and the
      federal laws of Canada applicable therein and the parties hereto attorn to
      the exclusive jurisdiction of the provincial and federal courts of British
      Columbia.

14.   BENEFIT. This Agreement shall enure to the benefit of and be binding upon
      the parties and their respective heirs, executors, administrators,
      successors and assigns.

15.   SEVERABILITY. If any provision of this Agreement is determined at any time
      by a court of competent jurisdiction to be invalid, illegal or
      unenforceable such provision or part thereof shall be severable from this
      Agreement and the remainder of this Agreement will be construed as if such
      invalid, illegal or unenforceable provision or part thereof had been
      deleted herefrom.

16.   FURTHER ASSURANCES. Each party agrees to take all such actions and execute
      all such documents within its power as may be necessary or desirable to
      carry out or implement and give full effect to the provisions and intent
      of this Agreement.

17.   TIME OF ESSENCE. Time is the essence of this Agreement and no extension of
      time shall constitute a waiver of this provision.

18.   WAIVERS. No waiver of, no consent with respect to, and no approval
      required under any provision of this Agreement will be effective unless in
      writing executed by the party against whom such waiver, consent or
      approval is sought to be enforced, and then any such waiver, consent or
      approval will be effective only in the specific instance and for the
      specific purpose given.

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19.   FACSIMILE AND COUNTERPARTS. This Agreement may be executed by facsimile
      and in one or more counterparts, each of which when taken together will
      constitute this Agreement.

IN WITNESS WHEREOF the parties have executed this Agreement.

ASPREVA PHARMACEUTICALS CORPORATION

Per: __________________________________
     Authorized Signatory

Per: __________________________________
     Authorized Signatory

SIGNED, SEALED and DELIVERED by        )
_____________________________________  )
 in the presence of:                   )
                                       )
_____________________________________  )   ______________________________
Name                                   )   -
                                       )
_____________________________________  )
Address                                )
                                       )
_____________________________________  )
Occupation                             )<PAGE>
[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE
COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED.

                                                                   Exhibit 10.27

      FIRST AMENDMENT TO CELLCEPT(R) COLLABORATION AND PROMOTION AGREEMENT

     This First Amendment to Cellcept(R) COLLABORATION AND PROMOTION AGREEMENT
(the "AMENDMENT") is entered into as of February 4, 2005 (the "AMENDMENT DATE"),
by and among, on the one hand, Aspreva Pharmaceuticals S.A., a Swiss corporation
having offices at Rue Jacquet-Droz 32, 2301 La Chaux-de-Fonds, Neuchatel,
Switzerland ("ASPREVA"), a subsidiary of Aspreva Pharmaceuticals Corporation
("ASPREVA CANADA"), and on the other hand, Hoffmann-La Roche Inc., a New Jersey
corporation having offices at 340 Kingsland Street, Nutley, New Jersey 07110 and
F. Hoffmann-La Roche Ltd, having offices at Grenzacherstrasse 124, CH-4070
Basel, Switzerland (collectively, "ROCHE"). Both Aspreva and Roche are referred
to individually as a "PARTY" and collectively as the "PARTIES."

     WHEREAS, Roche and Aspreva have entered into that certain CellCept(R)
Collaboration and Promotion Agreement, effective as of July 18, 2003, providing
for the development, and if successful, marketing and promotion by Aspreva of
Roche's proprietary drug CellCept(R) (mycophenolate mofetil) for the treatment
of autoimmune diseases (the "ORIGINAL AGREEMENT"); and

     WHEREAS, the Parties, in compliance with the Original Agreement, have each

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COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED.
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appointed a Finance Liaison, and such Finance Liaisons have agreed in principal
to certain modifications to the method by which Roche is to make payments to
Aspreva under Article 8 of the Original Agreement; and

     WHEREAS, Roche and Aspreva now desire to amend the Original Agreement with
respect to certain provisions thereof as recommended by the Finance Liaisons;

     NOW THEREFORE, in consideration of the premises and the mutual covenants
and agreements contained in this Amendment, and for other good and valuable
consideration, the receipt and sufficiency of which signing this Amendment
acknowledge, the Parties, intending to be legally bound, do hereby agree as
follows:

1.   Delete Section 1.15 in its entirety and replace with the following:

          1.15 "BASELINE RESIDUAL SALES" (BRS(1)) shall mean one hundred
     thirty-four million (134,000,000) CHF (and pro rata for any part of a
     year), which amount shall be subject to adjustment after the Effective Date
     as provided in Section 8.7. In any event, Baseline Residual Sales shall not
     exceed one hundred seventy-eight million (178,000,000) CHF.

2.   Delete Section 1.25 "ESTIMATED INCREMENTAL RESIDUAL SALES" in its entirety.

3.   Delete Section 1.43 "PROJECTED GLOBAL TRACKED SALES" in its entirety.

4.   Amend ARTICLE 1 to add the following new definitions:

---------------
(1) For ease of cross-reference, equivalent variables in the Approved Model have
    been listed as underlined acronyms following the defined terms.

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[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE
COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED.
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          "APPROVED MODEL" shall mean the financial model for the calculation of
     Initial Quarterly Payments and Audited Royalties in accordance with this
     Agreement, a copy of which is attached hereto as Schedule A.

          "AUDITED INCREMENTAL RESIDUAL SALES" (AIRS) shall be calculated, for a
     particular quarter, as follows:

                            AIRS = MNS - MTS - QBRS,

     where "AIRS" is Audited Incremental Residual Sales; "MNS" is MAT Net Sales
     for such quarter; "MTS" is the MAT Tracked Sales for such quarter; and
     "QBRS" is the Quarterly Baseline Residual Sales.

          "AUDITED QUARTER" shall mean, with respect to a given calendar
     quarter, the calendar quarter ending [ * ] prior to the end of that
     calendar quarter. For example, for the quarter ending March 31, 2007, the
     Audited Quarter would be [ * ].

          "AUDITED ROYALTY" (AR) shall equal 50% of the Audited Incremental
     Residual Sales.

          "COLLAR" shall equal Four Million (4,000,000) CHF, subject to
     modification by the JC from time to time pursuant to Section 8.2(c).

          "GLOBAL TRACKED NET SALES" (GTS) shall mean, for a given time period,
     those Net Sales in the Territory determined to have resulted from purchases
     of the Product for use in Transplant Indications through an audit conducted
     in

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COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED.
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     accordance with the then-applicable Sales Tracking Methodology, as provided
     in Section 8.5.

          "GLOBAL TRACKED SALES PROXY" (GTSP) means, with respect to a given
     calendar quarter, the ratio of [ * ] to [ * ] for the quarter ending [ * ]
     prior to the end of such calendar quarter. For example, for the quarter
     ending March 31, 2007, Global Tracked Sales Proxy would be equal to the
     ratio of [ * ] to [ * ] for [ * ].

          "INITIAL QUARTERLY PAYMENT" (IQP) shall have the meaning set forth in
     Section 8.1(a).

          "MAT NET SALES" (MNS) shall mean, with respect to a particular
     quarter, the [ * ] quarterly Net Sales for such quarter obtained by [ * ]
     Net Sales from such quarter [ * ] to obtain a [ * ] and then [ * ] by
     [ * ]. For example, the MAT Net Sales for Q2 of 2006 would be [ * ].

          "MAT TRACKED SALES" (MTS) shall mean, with respect to a particular
     quarter, the [ * ] quarterly Global Tracked Net Sales for such quarter
     obtained by [ * ] Global Tracked Net Sales from such quarter [ * ] to
     obtain a [ * ] and then [ * ] by [ * ]. For example, the MAT Tracked Sales
     for Q2 of 2006 would be [ * ].

          "OFFSET VALUE" (OV) shall be set initially at [ * ] CHF. In the event
     that the differential between the Audited Royalty and the Initial Royalty
     Payment for a particular quarter, as calculated under Section 8.2(b), is
     greater than the [ * ]

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BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE
COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED.
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     applicable to such quarter, the Offset Value shall be adjusted in
     accordance with following formula:

                                     [ * ],

     where "OV" is the Offset Value for such calendar quarter; and "Overage" is
     equal to the amount by which the [ * ] the [ * ] and the corresponding
     [ * ] for the [ * ] relevant to such calendar Quarter exceeds [ * ] (which
     shall be [ * ] if such [ * ] is in Roche's favor and [ * ] if such [ * ] is
     in Aspreva's favor). After [ * ] (or sooner if agreed by the Parties), the
     JC and/or the Finance Committee will revisit in good faith the calculation
     of the Offset Value and if it is determined that a change to such
     calculation is appropriate, then, subject to their mutual agreement, the
     Parties will amend the Agreement accordingly.

          "QUARTERLY BASELINE RESIDUAL SALES" (QBRS) shall mean Baseline
     Residual Sales for the then current calendar year multiplied by 0.25.

          "QUARTERLY INCREMENTAL RESIDUAL SALES" (QIRS) shall be calculated, for
     each calendar quarter, as follows:

                        QIRS = {MNS x (1 - GTSP)} - QBRS,

     where "QIRS" is Quarterly Incremental Residual Sales; "MNS" is MAT Net
     Sales for such quarter; "GTSP" is the Global Tracked Sales Proxy for such
     quarter; and "QBRS" is the Quarterly Baseline Residual Sales.

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BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE
COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED.
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          "SALES TRACKING METHODOLOGY" shall have the meaning set forth in
     Section 8.5.

5.   The Parties acknowledge and agree that the document attached as Annex A to
     this Amendment accurately describes the basis for the initial value of the
     Offset Value set forth above.

6.   Delete ARTICLE 8 in its entirety and replace with the following:

                                    ARTICLE 8

                            ROYALTIES AND ACCOUNTING

          8.1 INITIAL ROYALTY PAYMENTS TO ASPREVA. Beginning with the quarter
     commencing April 1, 2005, and continuing each calendar quarter until the
     end of the Term (such period, the "ROYALTY TERM"), Roche shall owe to
     Aspreva royalty payments as follows:

               (a) INITIAL QUARTERLY PAYMENT. Beginning with the quarter
     commencing April 1, 2005, Roche shall owe to Aspreva a royalty payment
     equal to the [ * ] (adjusted pro-rata for any partial quarters) plus fifty
     percent (50%) of the Quarterly Incremental Residual Sales for such quarter
     or portion thereof (the "INITIAL QUARTERLY PAYMENT").

               (b) CALCULATION OF GLOBAL TRACKED SALES PROXY AND INITIAL
     QUARTERLY PAYMENT. Roche shall determine the Global Tracked Sales Proxy for

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BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE
COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED.
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     a particular quarter, and shall calculate the Initial Quarterly Payment for
     such quarter, within [ * ] business days after the end of such calendar
     quarter.

               (c) PAYMENT. Roche shall pay to Aspreva the Initial Quarterly
     Payment set forth in Section 8.1(a) in accordance with Section 8.3.

          8.2 PAYMENTS BASED UPON AUDITED INCREMENTAL RESIDUAL SALES.

               (a) CALCULATION OF MAT TRACKED SALES. For the calendar quarter
     ending [ * ] after the end of the first calendar quarter in respect to
     which an Initial Quarterly Payment is owed, and for each calendar quarter
     thereafter during the Term (the "RECENT QUARTER"), Roche shall calculate
     the MAT Tracked Sales for the Audited Quarter relevant the Recent Quarter,
     using the results of the Sales Tracking Methodology for [ * ] and shall
     provide such calculation to Aspreva in writing within [ * ] business days
     after the end of the Recent Quarter. Roche shall in addition present such
     calculation to the Finance Subcommittee for review and approval (the "AUDIT
     MEETING") as soon as reasonably possible.

               (b) DETERMINATION OF AUDITED ROYALTY. Roche shall calculate the
     Audited Incremental Residual Sales for such Audited Quarter (using the MAT
     Tracked Sales approved in the Audit Meeting, if available) and shall
     calculate the Audited Royalty, and the Parties shall proceed as provided
     below:

                    (i) if the Audited Royalty for such Audited Quarter is
     greater than the Initial Royalty Payment paid with respect to the Audited
     Quarter, then Roche shall owe to Aspreva an amount equal to such
     differential amount,

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COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED.
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     but in no event shall Roche owe to Aspreva under this Section 8.2 more than
     the Collar (such payment to Aspreva referred to as the "ASPREVA
     DIFFERENTIAL PAYMENT"). By way of example, assuming that the Collar remains
     at the initial value of Four Million (4,000,000) CHF, if the Initial
     Royalty Payment was Twenty Million (20,000,000) CHF, and the Audited
     Royalty was Twenty-Five Million (25,000,000) CHF, Roche would owe to
     Aspreva Four Million (4,000,000) CHF;

                    (ii) if the Audited Royalty for such Audited Quarter is less
     than the Initial Royalty Payment for such Audited Quarter, then Aspreva
     shall owe to Roche an amount equal to such differential amount, but in no
     event shall Aspreva owe to Roche under this Section 8.2 more than the
     Collar (such payment to Roche referred to as the "ROCHE DIFFERENTIAL
     PAYMENT"). By way of example, assuming that the Collar remains at the
     initial value of Four Million (4,000,000) CHF, if the Initial Royalty
     Payment was Twenty-Five Million (25,000,000) CHF, and the Audited Royalty
     was Twenty Million (20,000,000) CHF, Aspreva would owe to Roche Four
     Million (4,000,000) CHF.

               (c) The JC may elect at any point to change the value of the
     Collar, which, if the JC so elects, shall become effective immediately upon
     such election.

          8.3 REPORTS; PAYMENTS

               (a) ROCHE REPORT. Within [ * ] days after the end of each
     calendar quarter as to which a payment is due under Section 8.1 and/or
     Section

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COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED.
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     8.2, Roche shall submit to Aspreva an updated version of the Approved
     Model, which shall incorporate the most recent data available to Roche and
     shall be accompanied by all related calculations necessary for
     substantiating the calculation of the Initial Quarterly Payment for such
     calendar quarter and the Audited Royalty for the Audited Quarter relative
     to such calendar quarter. In connection with such updated model, Roche
     shall certify that the determination of the MAT Tracked Sales was performed
     based on numbers calculated in accordance with the then-current Sales
     Tracking Methodology.

               (b) PAYMENTS. Along with delivery of the report referred to in
     Section 8.3(a) above, Roche agrees to pay to Aspreva an amount equal to
     either (i) the Initial Royalty Payment plus the Aspreva Differential
     Payment, or (ii) the Initial Royalty Payment minus the Roche Differential
     Payment, as appropriate.

               (c) REVIEW OF AUDITED DATA. Notwithstanding the Audit Meeting,
     Aspreva shall have a period of [ * ] after receipt to review, comment upon,
     or otherwise object in writing or inquire as to the information provided by
     Roche pursuant to Section 8.3(a), it being understood that any such
     comments or objections shall be directed to the accurate implementation of
     the Sales Tracking Methodology and the auditing process as described in
     Section 8.2, and not to the utility or appropriateness of the Sales
     Tracking Methodology itself. Upon receipt of any such objections or
     questions, Roche shall supply to Aspreva such information as Aspreva
     reasonably requests. In the event an error is identified, Roche shall have
     [ * ] business days to re-run the determination of

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COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED.
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     Global Tracked Net Sales or MAT Tracked Sales, or re-calculate the Audited
     Royalty or the Aspreva Differential Payment or the Roche Differential
     Payment, as the case may be, and shall either remit any additional payment
     owed Aspreva, or shall have the right to credit any overpayment to Aspreva
     against the next payment owed Aspreva under Section 8.2. This Section
     8.3(c) shall not be construed as diminishing Aspreva's rights under Section
     8.13 (Accounting; Audits).

          8.4 REASSESSMENT OF RECONCILIATION PROCESS. In the event that, for
     each of [ * ] quarters, the differential between the Audited Royalty and
     the Initial Royalty Payment for such quarter, as calculated under Section
     8.2(b), is greater than the Collar(s) applicable to such quarters [ * ],
     then:

               (a) Notwithstanding Section 8.2(b), the Aspreva Differential
     Payment or the Roche Differential Payment, as the case may be, for [ * ]
     such [ * ] quarters shall not be limited to the Collar and instead shall be
     [ * ].

               (b) Either Party shall have the right to demand a meeting of the
     JC or the Finance Subcommittee, as the case may be, and the Parties'
     representatives shall reassess the Sales Tracking Methodology, and/or the
     method of calculating the Initial Quarterly Payment, as set forth in
     Section 8.1, and the Parties shall meet in good faith to determine a more
     appropriate methodology so as to ensure fair and accurate compensation to
     the Parties under this Agreement by tracking as accurately as possible
     purchases of the Product in the Transplant Indications and by estimating as
     closely as is

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COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED.
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     reasonably possible the initial royalty payments to Aspreva in light of the
     fact that audited information regarding any given calendar quarter is not
     available at the end of such calendar quarter, but only subsequent thereto.
     If the JC fails to agree on a different methodology proposed by either
     Party by the time that the next Initial Quarterly Payment must be
     calculated, the Sales Tracking Methodology and the method for paying
     royalty payments and the reconciliation thereof then in effect shall
     continue to be used, except that, unless and until the JC agrees on a
     different methodology, the Aspreva Differential Payment or the Roche
     Differential Payment, as the case may be, for each quarter shall not be
     limited to the Collar and instead shall be [ * ].

          8.5 SALES TRACKING METHODOLOGY.

               (a) METHODOLOGY. For the purpose of the determination of Global
     Tracked Net Sales, the Global Tracked Sales Proxy, and MAT Tracked Sales,
     Roche shall utilize a defined methodology to determine which portion of Net
     Sales in the Territory resulted from purchases of the Product for use in
     the Transplant Indications (the "SALES TRACKING METHODOLOGY"). Aspreva and
     Roche agree that the Sales Tracking Methodology shall initially be such
     methodology as is described in Schedule 8.5 to this Agreement, and may
     modified by the JC pursuant to Section 8.5(b).

               (b) MODIFICATIONS TO METHODOLOGY. On a periodic basis [ * ], the
     JC shall review the current Sales Tracking Methodology and shall either
     affirm such Sales Tracking Methodology or elect to adopt a different or
     modified

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     Sales Tracking Methodology. If the JC elects to adopt a different or
     modified Sales Tracking Methodology, it shall become effective for the
     Audited Quarter with respect to the quarter in which such election occurs,
     and Schedule 8.5 shall be so amended to substitute such newly agreed-upon
     Sales Tracking Methodology. If the JC fails to agree on a different Sales
     Tracking Methodology proposed by either Party, the Sales Tracking
     Methodology then in effect shall continue to be used. Notwithstanding the
     foregoing, it is understood and agreed by the Parties that each shall have
     the right, at its own expense, to undertake such market research and
     analysis, including "probes" or sampling of patient data, physician
     prescribing habits and the like (the "NEW SALES TRACKING DATA") or
     otherwise propose modifications to the Sales Tracking Methodology at any
     time during the Term, and to present such data or otherwise propose
     modifications to the Sales Tracking Methodology to the JC to enhance the
     validity or reliability of the Sales Tracking Methodology. It shall be the
     JC's continuing obligation to review any such New Sales Tracking Data in
     good faith, with the overriding obligation to ensure fair and accurate
     compensation to the Parties under this Agreement by tracking as accurately
     as reasonably possible, purchases of the Product in the Transplant
     Indications, balancing the desirability of increased accuracy against the
     costs of obtaining same. In the event that the JC adopts a new Sales
     Tracking Methodology that incorporates New Sales Tracking Data proposed by
     a Party, such proposing Party bears the burden of payment of any
     incremental costs of obtaining such New Sales Tracking Data;

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     provided, however, that after [ * ], the Parties will share such costs
     [ * ] to the extent such costs are then prospective.

          8.6 INTENTIONALLY DELETED.

          8.7 ADJUSTMENTS TO BASELINE RESIDUAL SALES.

               (a) CHANGES IN AVERAGE UNIT SELLING PRICE. Commencing January
     2004, Roche shall calculate the Average Unit Selling Price and communicate
     same to Aspreva in writing. On an annual basis thereafter, Roche shall
     calculate the increase or decrease in the Average Unit Selling Price from
     the prior twelve month period, and the Parties shall adjust Baseline
     Residual Sales upward or downward, as the case may be, by that same
     percentage. On or before January 31st of each year, Roche shall provide to
     Aspreva a report listing (i) such increase or decrease in the Average Unit
     Selling Price and (ii) the new Baseline Residual Sales figure for the
     then-current year, both calculated pursuant to this Section 8.7(a).

               (b) PRODUCT RECALLS AND WITHDRAWALS. In the event that, due to a
     Product recall or withdrawal, the Product is no longer sold in such
     country, then Baseline Residual Sales shall be adjusted downward to offset
     the loss of sales in such country. Such adjustment for such country shall
     be at that percentage level set forth in Schedule 8.7(b) opposite the name
     of such country. For example, in the event the Product were no longer being
     sold in Germany,

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     Baseline Residual Sales would be reduced by [ * ], and would only be
     subject to upward adjustment thereafter as provided in Section 8.7(a).
     [ * ].

               (c) TERMINATION BY ASPREVA. In the event that Aspreva terminates
     this Agreement with respect to a particular country in the Territory as
     provided in Section 14.2, then the Territory shall be defined thereafter as
     excluding such country for purposes of calculating Net Sales, and Baseline
     Residual Sales shall be adjusted downward to offset the loss of sales in
     such country. Such adjustment for such country shall be equal to that
     percentage level set forth in Schedule 8.7(b) opposite the name of country.
     For example, in the event the Product were no longer being sold in Germany,
     Baseline Residual Sales would be reduced by [ * ], and would only be
     subject to upward adjustment thereafter as provided in Section 8.7(a).

          8.8 FINANCE LIAISON. No later than thirty (30) days prior to the start
     of the Royalty Term, each Party shall designate a Finance Liaison
     responsible for overseeing and facilitating the exchange of information
     contemplated under this Article 8. Either Party may replace its Finance
     Liaison at any time upon thirty (30) days prior written notice to the other
     Party.

          8.9 CURRENCY AND CONVERSION. All payments under this Agreement shall
     be in Swiss Francs. For the purpose of computing Net Sales for Product sold
     in a currency other than Swiss Francs, Roche shall convert the amount of
     Net Sales in foreign currencies as computed in accordance with Roche's then
     current standard practices.

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          8.10 INTEREST. In the event that Roche is late in paying to Aspreva
     any amounts due under this Agreement within the applicable time period set
     forth herein, such payment shall bear interest at the lesser of (a) [ * ]
     as reported by [ * ] (or a successor or similar organization) from time to
     time and (b) the maximum amount permitted by applicable law.

          8.11 TAXES.

               (a) COOPERATION AND COORDINATION. The Parties acknowledge and
     agree that it is their mutual objective and intent to minimize, to the
     extent feasible, taxes payable with respect to their collaboration efforts
     under this Agreement and that they shall use their best efforts to
     cooperate and coordinate with each other to achieve such objective.

               (b) PAYMENT OF TAX. A Party receiving a payment pursuant to this
     Article 8, or deemed to receive a payment as a result of the
     cross-licensing arrangement under Article 2, shall pay any and all taxes
     levied on such payment or deemed payment. If applicable laws or regulations
     require that taxes be deducted and withheld from a payment made pursuant to
     this Article 8, the remitting Party shall (i) deduct those taxes from the
     payment; (ii) pay the taxes to the proper taxing authority; and (iii) send
     evidence of the obligation together with proof of payment to the other
     Party within sixty (60) days following that payment.

               (c) TAX RESIDENCE CERTIFICATE. A Party (including any party to
     whom this Agreement may be assigned as permitted under Section 16.2)

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     receiving a payment pursuant to this Article 8 shall provide the remitting
     Party certification from the revenue authorities of a jurisdiction (a "TAX
     RESIDENCE CERTIFICATE") that it is a tax resident of that jurisdiction if
     such receiving Party wishes to claim the benefits of an income tax treaty
     to which that jurisdiction is a party. Upon the receipt thereof, any
     deduction and withholding of taxes shall be made at the appropriate treaty
     tax rate.

               (d) ASSESSMENT. Either Party may, at its own expense, protest any
     assessment, proposed assessment, or other claim by any governmental
     authority for any additional amount of taxes, interest or penalties or seek
     a refund of such amounts paid if permitted to do so by law. The Parties
     shall cooperate with the other in any protest by providing records and such
     additional information as may reasonably be necessary for a Party to pursue
     such protest.

          8.12 BLOCKED CURRENCY. If by reason of law Roche is unable to convert
     to Swiss Francs a portion of the amount due by Roche under this Agreement,
     then Roche shall notify Aspreva in writing and Aspreva shall have the right
     to receive such portion and, upon written request from Aspreva, Roche shall
     pay to Aspreva such portion, in the currency of any other country
     designated by Aspreva and legally available to Roche.

          8.13 ACCOUNTING; AUDITS.

               (a) RECORDS. Roche agrees to keep full, clear, and accurate
     records for a period of at least three (3) years, or such longer period as
     may

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     coincide with Roche's internal records retention policy, setting forth
     sales of the Product in the Territory during the Term in sufficient detail
     to permit Aspreva to confirm the accuracy of (i) Roche's determination of
     Global Tracked Net Sales pursuant to the Sales Tracking Methodology and
     (ii) the calculation of royalty payments and other compensation payable to
     Aspreva under this Agreement.

               (b) AUDIT. Roche further agrees to permit Aspreva to engage
     Roche's independent, certified public accountant, on behalf of Aspreva, to
     examine by way of an audit conducted in accordance with IAS, such of its
     books and records related to the calculations set forth in this Article 8,
     including all data used in conducting the Sales Tracking Methodology and in
     calculating Global Tracked Net Sales, but in any event no more than once in
     any given calendar year. Aspreva shall have a right to request from the
     independent certified public accountant full access to review all work
     papers and supporting documents pertinent to such audit. If Aspreva
     reasonably believes, after reviewing information received from Roche's
     independent public accountant, that an additional audit is appropriate to
     address an apparent discrepancy with respect to Roche's calculation of Net
     Sales or other calculations set forth in this Article 8, Aspreva shall have
     the right, by an audit specialty firm acceptable to Roche, employed by
     Aspreva and at Aspreva's own expense, to perform such necessary audit
     procedures.

               (c) COSTS OF AUDIT. Aspreva shall bear the cost of any audit
     under this Section 8.13, except in the event that the results of the audit
     reveal an

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     underpayment of the amounts described in this Article 8 by [ * ] or more
     over the period being audited, in which case Roche shall pay all costs of
     such examination. In the event that such examination concludes that
     additional amounts are owed to Aspreva, Roche shall pay any such additional
     amounts within thirty (30) days of the date that Roche receives the written
     report so concluding. In the event that such examination concludes that
     there has been an overpayment with respect to amounts paid to Aspreva, the
     excess (after deducting the cost of the examination) shall be credited to
     Roche against future payments required by this Article 8.

7.   The Parties acknowledge and agree that the Sales Tracking Methodology will
     be implemented [ * ] described on Schedule B to this Amendment, and the
     Parties shall [ * ] after the Amendment Date to [ * ] of the [ * ]
     accordingly. In no event shall any [ * ] pursuant to this Section 7
     disadvantage either Party with respect to the financial arrangement of the
     Agreement as hereby amended.

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

ASPREVA PHARMACEUTICALS S.A.               F. HOFFMANN-LA ROCHE LTD

By: /s/ Kalust Zorik                       By: /s/ D. P. Moorhead
    ---------------------------------          ---------------------------------
    Name:  Kalust  Zorik                       Name:  D. P. Moorhead
    Title: Board Member                        Title: Head of Pharma Finance

By: /s/ P. Comte                           By: /s/  Stefan Arnold
    ---------------------------------          ---------------------------------
    Name:  Pierre Comte                        Name: Stefan Arnold
    Title: Director                            Title: Deputy Director

                                           HOFFMANN-LA ROCHE INC.

                                           By: /s/ George W. Johnston
                                               ---------------------------------
                                               Name:  George W. Johnston
                                               Title: Vice President

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                                   SCHEDULE A

                                      [ * ]

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                                   SCHEDULE B

                                      [ * ]

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