Document:

Exhibit
      10.8

    AMENDMENT
      NO. 004

    

    THIS
      AMENDMENT NO. 004 (“Amendment”) is made as of the 9th day of May, 2006, between
      General Electric Capital Corporation (“Secured Party”) and Discovery
      Laboratories, Inc. (“Debtor”) in connection with that certain Master Security
      Agreement, dated as of December 20, 2002, as amended from time to time
      (“Agreement”). The terms of this Amendment No. 004 are hereby incorporated into
      the Agreement as though fully set forth therein.
      Secured
      Party and Debtor mutually desire to amend the Agreement as set forth below.
      Section references below refer to the section numbers of the Agreement.

    

    In
      consideration of Secured Party (i) extending the Anticipated Funding Period
      under the Confidential Loan Proposal dated October 18, 2004 (“Proposal”) for an
      additional period of six (6) months and (ii) making available, subject to the
      funding conditions contained in the Proposal, the entire Loan Amount under
      the
      Proposal (notwithstanding that FDA approval to market Debtor’s SurfaxinTM for RDS
      in premature infants (“FDA Approval”) has not been obtained), Debtor agrees that
      all existing Indebtedness and all advances from and after the date of this
      Amendment No, 004 shall be subject to the Agreement as amended by this
      Amendment.

    

    Subsection
      2(l) is
      hereby added and read as follows:

     

    “(i)
      Subject to the rights of PharmaBio Development Inc. (“PharmaBio”) under that
      certain Amended and Restated Security Agreement dated December 10, 2001, as
      amended and restated as of November 3, 2004 (the PharmaBio Agreement”) and any
      rights granted under the terms of this Amendment, Debtor will not subject its
      Intellectual Property, as defined in Section 7 below, or permit its Intellectual
      Property to made the subject of any liens, claims or encumbrances of any kind
      whatsoever, except for Permitted Liens as defined in subsection (k) of this
      Section. The prohibitions described in this Section 2(l)(i) shall terminate
      upon
      Debtor’s receipt of the FDA Approval.

    

    (ii)
      Supplemental Collateral. Capitalized terms used but not defined in this Section
      2(l)(ii) and not defined in the Agreement shall have the meanings given to
      them
      in the PharmaBio Agreement.

    

    (A)
      Debtor grants to Secured Party, its successors and assigns to Secured Party,
      its
      successors and assigns, a security interest in all of the Supplemental
      Collateral.

    

    (B)
      For
      purposes of this Section 2(l), “Supplemental Collateral” shall mean (but only to
      the extent the following elements of the Supplemental Collateral relate to
      or
      arise out of or in connection with the sale, lease, conveyance, transfer or
      disposition of any right, title or interest in, to or under the Product, the
      Product Intellectual Property or the License Agreement in the Territory) all
      right, title and interest of Borrower in, to and under any and all of the
      following, whether now existing or hereafter existing or acquired from time
      to
      time, in the Territory: (a) all Accounts, Chattel Paper, Contract Rights,
      Contracts, Commercial Tort Claims, Deposit Accounts, Documents, General
      Intangibles, Instruments, monies, Payment Intangibles, Promissory Notes and
      Receivables, relating to, arising out of or in connection with any sale, lease,
      conveyance, transfer or disposition of any right, title or interest in, to
      or
      under the Product, the Product Intellectual Property or the License Agreement;
      (b) all regulatory applications, filings or similar items related to the
      Product, including without limitation the NDA for the Product and all
      supplements, records, and reports that are required to be maintained under
      applicable FDA regulations and all related correspondence to and from the FDA,
      and all clinical data related to any such regulatory applications, filings
      or
      similar items; (c) all books, records, computer information, files, documents,
      data or other materials related to or arising out of or in connection with
      any
      and all of the foregoing; and (d) all Proceeds of any and all of the foregoing;
      provided,
      however,
      that
      the Supplemental Collateral shall not include the Product Intellectual Property
      or the License Agreement themselves; provided,
      further,
      that
      the Supplemental Collateral shall not include Proceeds derived from or in
      connection with the sale, lease, conveyance, transfer or disposition of any
      right, title or interest in Intellectual Property of Borrower to the extent,
      and
      only to the extent, that such Proceeds relate to the sale, lease, conveyance,
      transfer or disposition of any right, title or interest in products other than
      the Product. For the avoidance of doubt, the Supplemental Collateral shall
      not
      include any payment rights or proceeds to which Borrower is entitled under
      any
      third party licensing agreements involving the Product, the Product Intellectual
      Property or the License Agreement (each a “Product Licensing Agreement”);
provided,
      however,
      that
      the Supplemental Collateral shall include the proceeds of any outright sale
      or
      other similar disposition by Borrower of any or all its rights under any such
      Product Licensing Agreement.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    (C)
      The
      Supplemental Collateral shall for all purposes constitute “Collateral” under the
      terms of the Agreement; provided, however, that the Secured Party’s security
      interest in the Supplemental Collateral shall be subordinate to those granted
      to
      PharmaBio under the PharmaBio Agreement, notwithstanding the time, order or
      method of attachment or perfection of security interests, or the time or order
      of filing of financing statements or other liens or security interests of
      Secured Party or PharmaBio. Secured Party expressly acknowledges and agrees
      that
      (i) Secured Party expressly agrees that it shall not exercise any rights
      provided in this Section 2(l) seek to enforce any remedy with respect to the
      Supplemental Collateral until such time as the obligations of Debtor to
      PharmaBio have been fully discharged, and (ii) the security interest granted
      to
      Secured Party by Borrower in the Supplemental Collateral provides only a right
      to receive proceeds of any sale, conveyance, transfer or disposition described
      in the above definition of Supplemental Collateral and does not provide Secured
      Party with any right to commence or demand commencement of any such sale, lease,
      conveyance, transfer or disposition or to exercise any other remedies with
      respect to the Supplemental Collateral.

    

    (D)
      The
      rights of Secured Party in and to the Supplemental Collateral granted under
      this
      Section 2(l)(ii) shall terminate upon the earlier to occur of (x) receipt by
      Debtor of the FDA Approval, and (y) payment in full of Debtor’s Obligations
      under the PharmaBio Agreement, but only so long as Debtor
      has 12 months of cash burn at the time of such payment. If Debtor does not
      have
      12 months of cash burn at the time of such payment Secured
      Party’s rights in and to the Supplemental Collateral shall terminate at any time
      thereafter upon demonstration by Debtor that such 12 month cash burn status
      has
      been achieved.

    

    (E)
      Secured Party agrees that, to the extent that Supplemental Collateral is applied
      to satisfy any Indebtedness of Debtor to Secured Party under the Debt Documents,
      as provided under the terms of this Agreement, Secured Party shall be deemed
      to
      have consented to any such prepayment.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (F)
      Upon
      termination of the security interest provided herein, either pursuant to this
      Section 2(l) or as a consequence of the full payment by Debtor of all
      Indebtedness, Secured Party hereby agrees that it will immediately file
      termination statements and execute such other documents and acknowledgments
      that
      Debtor may reasonably request; provided, that if Secured Party shall fail to
      file any termination statement, Secured Party agrees that Debtor as the true
      and
      lawful attorney-in-fact of Secured Party, may take all appropriate action,
      including filing termination statements, to effect the termination of the
      security interest provided herein.

    

    

    Subsection
      7(a)(xvi) is
      hereby amended and restated in its entirety as follows:

    

    “(xvi)
      Debtor or any guarantor or other obligor for any of the Indebtedness
      sells,
      transfers, assigns, mortgages, pledges, leases, grants a security interest
      in or
      encumbers any or all of Debtor’s Intellectual Property now existing or hereafter
      acquired.  For purposes of Subsection 2(l)(i) and this Subsection
      7(a)(xvii), “Intellectual Property” shall consist of Debtor’s material owned or
      licensed patents, trademarks and copyrights used in Debtor’s research and
      development activities in connection with the development of its drug
      pipeline;
      provided,
      that
      licenses or sublicenses by the Debtor of its Intellectual Property as
      part of a research and development or similar arrangement or otherwise
      related to the development, marketing and distribution of its drug products
      shall be excluded.  For the avoidance of doubt, Intellectual Property shall
      not include computer programs owned or leased by Debtor for use in the
      administration of its general business activities or installed in computer
      hardware that is not a part of Debtor’s research and development activities.
      Debtor shall provide Secured Party with a listing of licenses and
      sublicenses granted to third parties within ten (10) days of receipt of written
      request. Upon
      Debtor’s receipt of the FDA Approval this Subsection 7(a)(xvi) shall terminate
      and none of the events described herein shall constitute a default under this
      Agreement.”

    

    

    EXCEPT
      AS
      EXPRESSLY PROVIDED IN SECTION 2(l) OF THE AGREEMENT, ADDED ABOVE, TERMS USED,
      BUT NOT OTHERWISE DEFINED IN THIS AMENDMENT SHALL HAVE THE MEANINGS GIVEN TO
      THEM IN THE AGREEMENT. EXCEPT AS EXPRESSLY AMENDED HEREBY, THE AGREEMENT SHALL
      REMAIN IN FULL FORCE AND EFFECT. IF THERE IS ANY CONFLICT BETWEEN THE PROVISIONS
      OF THE AGREEMENT AND THIS AMENDMENT NO. 004, THEN THIS AMENDMENT NO. 004 SHALL
      CONTROL.

    

    IN
      WITNESS WHEREOF,
      the
      parties hereto have executed this Amendment No.004 by signature of their
      respective authorized representative set forth below.

    

    
      	
              General
                Electric Capital Corporation

            	
              Discovery
                Laboratories, Inc.

            
	 	 
	
              By:        /s/
                John
                Edel                                               
                

            	
              By:  
                /s/
                John G.
                Cooper                                           
                

            
	 	 
	
              Name:      
                /s/ John
                Edel                                           
                

            	
              Name:  
                /s/ John G.
                Cooper                                      
                

            
	 	 
	
              Title:     
                SVP                                                              
                

            	
              Title:  
                Executive
                VP,
                CFOExhibit
      - 10.14

    Supplementary
      Agreement to Lease Agreement dated on 5th September 2004

     

    Party
      A:
      Shanghai Kaihong Electronic Co., Ltd 

    Add:
      Chenchun Road East-end, Xingqiao Town, Songjiang District, Shanghai

    

    Party
      B:
      Shanghai Dinghong Electronic Co., Ltd

    Add:
      No.
      999, Chenchun Road, Xingqiao Town, Songjiang District, Shanghai

    

    Whereas,
      

    Party
      A
      and Party B have entered into a Lease Agreement for the rental of part of the
      Multi-Purpose Four-Stored Building as well as the Dormitory Building at No.375
      of the Land in Songjiang District, Shanghai as of September 5th
      2004.
      Such Agreement has been in effect and performed by the two parties thus far.
      Hereby, based on amiable negotiation, both parties agree to further enter into
      the following clauses as a Supplementary Agreement regarding the lease of the
      first and second floors of the Dormitory Building thereof:

    

    Lease
      of Area 

    The
      first
      and second floors of the Dormitory Building cover a total building area of
      1,796
      square
      meters including 40 rooms. Party A shall inform Party B of rooms needed at
      the
      beginning of each quarter, and both parties shall sign an Annex to this
      Supplementary Agreement. The Annex shall be deemed as a complementary agreement
      to the Supplementary Agreement and of the same effectiveness.

    

    2.
      Rental

    The
      Parties agree that the rent of the first and second floors shall be
      RMB29.8
      per
      square meter per month and the area of each room is 44.9 square meters, so
      the
      monthly rental per dormitory room shall be RMB $1,338.02.

    

    3.
      Deposit

    As
      for
      the lease of the first and second floors, Party A shall pay a deposit to Party
      B
      amounting to one month rental within 10 days after signing the Annex to this
      Supplementary Agreement. Part B will refund the deposit to Part A after 2 weeks
      of termination of the Supplementary Agreement.

    

    4.
      Term of Lease

    The
      term
      of lease of the first and second floors shall commence from the date of signing
      an Annex to this Supplementary Agreement till September 4, 2009, with an
      automatic renewal for every five(5) years, unless Party A gives a termination
      notice no less than 30 days prior to the expiration of any Lease Term. Effective
      in its business and operation period, Party A has the priority to the lease
      area
      defined herein and Party B shall not terminate this Supplementary Agreement
      without a reasonable cause unless otherwise Party A agrees in writing. During
      renewal, items relating to rental herein could be re-negotiated and adjusted
      with a reference to the then prevailing market rentals.

    

    5.
      This
      Supplementary Agreement shall be deemed as a complementary agreement to the
      Lease Agreement and of the same effectiveness. In cases of matters not covered
      herein, the Lease Agreement shall be used as a reference.

    

    6.
      Any
      Exhibit to this Supplementary Agreement shall constitute to be a part of the
      entire Supplementary Agreement.

    

    7.
      This
      Supplementary Agreement is valid in both Chinese and English versions.

    

    8.
      This
      Supplementary Agreement is effective as of January 1, 2006. 

     

    
      	
              Party
                A: Shanghai Kaihong Electronic Co., Ltd

            	 	
              Party
                B: Shanghai Dinghong Electronic Co., Ltd

            
	
              Representative:
                

              /s/:
                Joseph Liu

              Joseph
                Liu

            	 	
              Representative:

              /s/:
                Qin-Zhu, Zhang

              Qin-zhu,
                Zhang

            
	
              Date
                of Signature: March 15, 2006

            	 	
              Date
                of Signature: March 15, 2006

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