Document:

STOCK
      OPTION AMENDMENT AGREEMENT

     

    This
      Agreement is made and entered into effective the 27th day of April, 2007 between
      SyntheMed, Inc. (the "Company") and the undersigned holder of options to
      purchase shares of the Company's common stock (the "Optionee").

     

    WHEREAS,
      the Company previously granted to Optionee an option to purchase 25,148 shares
      of the Company's common stock at an exercise price of $0.14 per share, with
      an
      expiration date of May 31, 2007 (the "Option").

     

    WHEREAS,
      the Company has entered into a formal Stock Option Agreement evidencing the
      Option (the "Option Agreement").

     

    WHEREAS,
      the Company and the Optionee desire to
      amend
      the Option to add a cashless exercise feature, in consideration for which the
      Optionee has agreed that, upon exercise, the underlying shares will be subject
      to forfeiture under certain circumstances and not transferable for a period
      of
      one year.

     

    NOW
      THEREFORE, the parties hereby agree as follows:

     

    1.
      Cashless
      Exercise.
      The
      Option Agreement is hereby amended to permit the Optionee to satisfy its
      obligation to pay the exercise price through a “cashless exercise.” Upon notice
      to the Company by the Optionee that the Optionee exercises the Option on a
      “cashless” basis, the Company shall issue to the Optionee, in full satisfaction
      of such exercise, the number of shares of common stock determined as
      follows:

     

    X
      = Y
      [(A-B)/A]

    

    where: 

    

    X
      = the
      number of shares to be issued to the Optionee.

     

    Y
      = the
      number of shares with respect to which the Option is being
      exercised.

     

    A
      = the
      common stock closing price on the date immediately prior to the date of
      exercise.

     

    B
      = the
      Option exercise price.

    

    2.
      Transferability.
      Until
      the first anniversary of the date of exercise, any and all shares issued upon
      exercise of the Option shall not be transferable without the prior consent
      of
      the Compensation Committee of the Board of Directors, whether by sale,
      assignment, exchange, pledge or by operation of law except (i) pursuant to
      a
      qualified domestic relations order as defined for purposes of Employee
      Retirement Income Security Act of 1974, as amended, or (ii) by gift: to a member
      of the "Family" (as defined below) of the Optionee, to or for the benefit of
      one
      or more organizations qualifying under Code sec. 501(c)(3) and 170(c)(2)(a
      "Charitable Organization") or to a trust for the exclusive benefit of the
      Optionee, one or more members of the Optionee's Family, one or more Charitable
      Organizations, or any combination of the foregoing, provided that any such
      transferee shall enter into a written agreement to be bound by the terms of
      this
      Agreement. For this purpose, "Family" shall mean the ancestors, spouse,
      siblings, spouses of siblings, lineal descendants and spouses of lineal
      descendants of the Optionee.

    

    The
      Company shall not be required to transfer on its books any of the shares issued
      upon exercise of the Option that shall have been sold or transferred in
      violation of the provisions set forth in this Agreement, or to

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    treat
      any
      transferee to whom such shares have been so sold or transferred as a stockholder
      of the Company.

    

    3.
      Forfeiture.
      Until
      the first anniversary of the date of exercise, any and all shares issued upon
      exercise of the Option shall be forfeited to the Company upon any termination
      of
      Optionee’s employment with the Company by the Optionee without “Good Reason” or
      by the Company for “Cause”, as those terms are defined in the Optionee’s
      employment agreement with the Company. 

    

    4.
      Stock
      Certificates.
      Any
      stock certificates issued for shares upon exercise of the Option shall contain
      the following legend: 

    

    The
      securities represented by this certificate are subject to restrictions on
      forfeiture and transferability for a period of one year from original issuance,
      pursuant to the terms of a Stock Option Amendment Agreement entered into by
      the
      Company with the registered owner of this certificate or the registered owner’s
      predecessor in interest. Copies of said agreement may be obtained upon written
      request to the Secretary of the Company by the registered owner hereof. These
      securities may be cancelled and retired by the Company in the circumstances
      set
      forth in the Stock Option Amendment Agreement, in which case this Certificate
      shall be null and void.

    

    The
      Company will cause the foregoing legend to be removed upon request by the
      Optionee given at any time on or after the first anniversary of the exercise
      of
      the Option, but only if the Optionee is otherwise in compliance with the
      Optionee’s obligations hereunder and has satisfied or made arrangements
      acceptable to the Company to satisfy the Optionee’s withholding tax obligations
      in respect of the shares.

    

    5.
      Rights
      as a Stockholder.
      Except
      as otherwise provided herein, the registered owner of any certificate issued
      in
      respect of shares issued upon exercise of the Option shall until forfeiture
      be
      entitled to all rights of a stockholder of the Company, including the right
      to
      vote such shares and to receive dividends and/or other distributions, if any,
      declared on such shares.
      Upon any
      forfeiture of such shares pursuant to the provisions of this Agreement, the
      Company shall be entitled to treat the forfeited as not outstanding, and the
      registered owner of any certificate representing such shares shall have no
      rights as a stockholder of the Company.

     

    6.
      Entire
      Agreement.
      This
      Agreement, together with the Option Agreement (to the extent not expressly
      amended hereby), represents the entire agreement of the parties with respect
      to
      the Option and supersedes any and all previous contracts, arrangements or
      understandings between the parties with respect to the Option. This Agreement
      may be amended at any time only by means of a writing signed by the Optionee
      and
      an authorized officer of the Company.

     

    7.
      Continuation
      of Option Agreement.
      Except
      for the changes effected hereby, no other terms or provisions of the Option
      Agreement have been modified as a result of this Agreement, and those terms
      and
      provisions shall continue in full force and effect.

     

    IN
      WITNESS WHEREOF, the parties have executed this Agreement on the day and year
      indicated above.

     

     

    SYNTHEMED,
      INC.

     

     

    By: 
      /s/
      Richard L. Franklin, MD

      
        

      

    

    Title:
      Chairman of the Board

     

     

    OPTIONEE

     

     

    /s/
      Robert P. Hickey

      
        

      

    

    Robert
      P.
      Hickey

     

     

    
      
         

      

        -2-STOCK
      OPTION AMENDMENT AGREEMENT

    

    This
      Agreement is made and entered into effective the 27th day of April, 2007 between
      SyntheMed, Inc. (the "Company") and the undersigned holder of options to
      purchase shares of the Company's common stock (the "Optionee").

    

    WHEREAS,
      the Company previously granted to Optionee an option to purchase 50,000 shares
      of the Company's common stock at an exercise price of $0.562 per share, with
      an
      expiration date of May 5, 2007 (the "Option").

    

    WHEREAS,
      the Company has entered into a formal Stock Option Agreement evidencing the
      Option (the "Option Agreement").

    

    WHEREAS,
      the Company and the Optionee desire to
      amend
      the Option to add a cashless exercise feature, in consideration for which the
      Optionee has agreed that, upon exercise, the underlying shares will be subject
      to forfeiture under certain circumstances and not transferable for a period
      of
      one year.

     

    NOW
      THEREFORE, the parties hereby agree as follows:

    

    1.    Cashless
      Exercise.
      The
      Option Agreement is hereby amended to permit the Optionee to satisfy its
      obligation to pay the exercise price through a “cashless exercise.” Upon notice
      to the Company by the Optionee that the Optionee exercises the Option on a
      “cashless” basis, the Company shall issue to the Optionee, in full satisfaction
      of such exercise, the number of shares of common stock determined as
      follows:

     

    X
      = Y
      [(A-B)/A]

    

    where: 

    

    X
      = the
      number of shares to be issued to the Optionee.

     

    Y
      = the
      number of shares with respect to which the Option is being
      exercised.

     

    A
      = the
      common stock closing price on the date immediately prior to the date of
      exercise.

     

    B
      = the
      Option exercise price.

    

    2.    Transferability.
      Until
      the first anniversary of the date of exercise, any and all shares issued upon
      exercise of the Option shall not be transferable without the prior consent
      of
      the Compensation Committee of the Board of Directors, whether by sale,
      assignment, exchange, pledge or by operation of law except (i) pursuant to
      a
      qualified domestic relations order as defined for purposes of Employee
      Retirement Income Security Act of 1974, as amended, or (ii) by gift: to a member
      of the "Family" (as defined below) of the Optionee, to or for the benefit of
      one
      or more organizations qualifying under Code sec. 501(c)(3) and 170(c)(2)(a
      "Charitable Organization") or to a trust for the exclusive benefit of the
      Optionee, one or more members of the Optionee's Family, one or more Charitable
      Organizations, or any combination of the foregoing, provided that any such
      transferee shall enter into a written agreement to be bound by the terms of
      this
      Agreement. For this purpose, "Family" shall mean the ancestors, spouse,
      siblings, spouses of siblings, lineal descendants and spouses of lineal
      descendants of the Optionee.

    

    The
      Company shall not be required to transfer on its books any of the shares issued
      upon exercise of the Option that shall have been sold or transferred in
      violation of the provisions set forth in this Agreement, or to treat any
      transferee to whom such shares have been so sold or transferred as a stockholder
      of the Company.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    3.    Forfeiture.
      Until
      the first anniversary of the date of exercise, any and all shares issued upon
      exercise of the Option shall be forfeited to the Company upon any termination
      of
      Optionee’s employment with the Company by the Optionee without “Good Reason” or
      by the Company for “Cause”, as those terms are defined in the Optionee’s
      employment agreement with the Company. 

    

    4.    Stock
      Certificates.
      Any
      stock certificates issued for shares upon exercise of the Option shall contain
      the following legend: 

    

    The
      securities represented by this certificate are subject to restrictions on
      forfeiture and transferability for a period of one year from original issuance,
      pursuant to the terms of a Stock Option Amendment Agreement entered into by
      the
      Company with the registered owner of this certificate or the registered owner’s
      predecessor in interest. Copies of said agreement may be obtained upon written
      request to the Secretary of the Company by the registered owner hereof. These
      securities may be cancelled and retired by the Company in the circumstances
      set
      forth in the Stock Option Amendment Agreement, in which case this Certificate
      shall be null and void.

    

    The
      Company will cause the foregoing legend to be removed upon request by the
      Optionee given at any time on or after the first anniversary of the exercise
      of
      the Option, but only if the Optionee is otherwise in compliance with the
      Optionee’s obligations hereunder and has satisfied or made arrangements
      acceptable to the Company to satisfy the Optionee’s withholding tax obligations
      in respect of the shares.

    

    5.    Rights
      as a Stockholder.
      Except
      as otherwise provided herein, the registered owner of any certificate issued
      in
      respect of shares issued upon exercise of the Option shall until forfeiture
      be
      entitled to all rights of a stockholder of the Company, including the right
      to
      vote such shares and to receive dividends and/or other distributions, if any,
      declared on such shares.
      Upon any
      forfeiture of such shares pursuant to the provisions of this Agreement, the
      Company shall be entitled to treat the forfeited as not outstanding, and the
      registered owner of any certificate representing such shares shall have no
      rights as a stockholder of the Company.

     

    6.    Entire
      Agreement.
      This
      Agreement, together with the Option Agreement (to the extent not expressly
      amended hereby), represents the entire agreement of the parties with respect
      to
      the Option and supersedes any and all previous contracts, arrangements or
      understandings between the parties with respect to the Option. This Agreement
      may be amended at any time only by means of a writing signed by the Optionee
      and
      an authorized officer of the Company.

    

    7.    Continuation
      of Option Agreement.
      Except
      for the changes effected hereby, no other terms or provisions of the Option
      Agreement have been modified as a result of this Agreement, and those terms
      and
      provisions shall continue in full force and effect.

     

    IN
      WITNESS WHEREOF, the parties have executed this Agreement on the day and year
      indicated above.

     

     

    SYNTHEMED,
      INC.

     

     

    By: 
      /s/
      Richard L. Franklin, MD

      
        

      

    

    Title:
      Chairman of the Board

     

     

    OPTIONEE

     

     

    /s/
      Eli.
      Pines, PhD

      
        

      

    

    Eli
      Pines

     

     

    
      
         

      

        -2-

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