Document:

Exhibit 10.5

 

CONFIDENTIAL TREATMENT REQUESTED
UNDER RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED.

 

[*] INDICATES OMITTED MATERIAL THAT
IS THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY
WITH THE COMMISSION.

 

LICENSE AGREEMENT

 

BETWEEN

 

PROFESSOR DR. ERIC P. KRENNING

 

AND

 

BIOSYNTHEMA INC.

 

    	 

    	 

    

 

LICENSE AGREEMENT

 

This
Agreement, executed this 12th day of June, 2007, ("the Effective Date") is made by and between Professor Dr. Eric P. Krenning, Hoflaan 71, 3062 Je Rotterdam, The Netherlands ("Krenning"),
and BioSynthema Inc., a corporation organized under the laws of the State of Missouri, USA, and having its principal place
of business 4041 Forest Park Blvd., S1. Louis, Missouri, 63108 USA ("BioSynthema"), and hereafter referred to as the
"Agreement". For the purpose of the Agreement, BioSynthema shall include a sublicensee to the Agreement.

 

INTRODUCTION

 

1.
WHEREAS, Krenning has made inventions relating to labelled somatostatin analogues covered in the patent case 100-7382 and patent case
118-7595, as set out in Schedule I annexed hereto (the "Patent") as set out in Schedules I and Ia, which were assigned
to Novartis PharmaAG;

 

2.
WHEREAS, Novartis Pharma AG of Basle, Switzerland, has entered into a License Agreement with Krenning signed on December 21, 2006 granting
Krenning a non-exclusive, royalty-bearing right to the Patent, with the right to sublicense (the "Krenning License");

 

3.
WHEREAS, BioSynthema is the successor of certain intellectual property and related assets of Mallinckrodt Inc., to expand BioSynthema's
research, development and commercialization of radiopharmaceutical products in the field of oncology, and

 

4.
WHEREAS, Krenning is willing to grant to BioSynthema certain sublicense rights under the Krenning License, subject to the terms of the Agreement;

 

NOW
THEREFORE, in consideration of the premises and the mutual covenants herein contained, the Parties mutually agree as follows:
-

 

ARTICLE 1.

DEFINITIONS

 

As used in the
Agreement, the following terms, whether used in the singular or plural, shall have the following meanings:

 

Certain confidential information has
been omitted from this document, as indicated by the notation “[*]”. The omitted information has been filed on a confidential
basis with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

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"Affiliate"
an entity shall be deemed to be an "Affiliate" of BioSynthema whether a corporation or other business entity, that is
controlling, controlled by or under common control with BioSynthema.

 

"Agreement"
means this agreement together with all exhibits, schedules, or appendices, as may be attached, all as respectively amended, modified
or supplemented by the Parties in accordance with the terms of the Agreement.

 

"BioSynthema
License Rights" means the right to all of Krenning's interests in the Krenning License and as defined in Section 4.1.1.

 

"BioSynthema
Non-Exclusive Sublicense" means the non-exclusive sublicense granted by BioSynthema to a Third Party.

 

"Commercialization"
means activities conducted by a Party either by itself or through a Third Party and directed to marketing, promoting, distributing,
importing, exporting, offering for sale or selling a Licensed Product, which may include pre-launch market preparation, whether
undertaken by a Party alone or with a partner or a sublicensee. When used as a verb, "Commercialize" means to engage
in Commercialization.

 

"Control"
means the direct or indirect ownership of more than fifty percent (50%) of the equity interest in such corporation or business
entity, or the ability in fact to control the management decisions of such corporation or business entity.

 

"Cover"
(including the variations such as "Covered", "Coverage" or "Covering") when applied to a patent
means that the making, using, offering for sale, selling or importing of a given product would infringe a Valid Claim of a patent
in the absence of a license under such patent. The determination of whether a product is Covered by a particular patent shall
be made on a country-by-country basis.

 

"Diagnostic
Field" means the use of Licensed Product for diagnostic purposes.

 

"Dollars"
(including "U.S. Dollars" and the abbreviation "USD") means the lawful currency of the United
States of America.

 

"Effective
Date" means the date set forth at the outset of this Agreement.

 

"Euros" means the lawful currency of
the European Union.

 

"Expiration
Date" means, in relation to Krenning's rights and obligations and BioSynthema's rights and obligations under the Agreement,
the date calculated on a country-by-country basis, upon which the Parties payment obligations shall expire.

 

"FDA" means thereto.
the United Stares Food and Drug Administration and any successor agency 

 

Certain confidential information has
been omitted from this document, as indicated by the notation “[*]”. The omitted information has been filed on a confidential
basis with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

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"First
Commercial Sales" means the first shipment of a Licensed Product to an independent Third Party, by BioSynthema or its
sublicensee, in a country following applicable Marketing Authorization of Licensed Product in such country, excluding for use
in a clinical trial.

 

"Krenning
Designee" or "Designee" means an individual, corporation, partnership, association, joint-stock company, trust,
which is designated by Krenning pursuant to lawful purposes as the beneficiary of Krenning considerations defined under Article 4.

 

"Krenning
License Agreement" means the Agreement dated and signed by Krenning on December 21, 2006 by which Novartis grants Krenning a non-exclusive
license to develop, test, make, have made, use, sell, have sold, offer for sale, distribute, export or import a Licensed Product.

 

"Licensed
Product" means any product in the Diagnostic or Therapeutic Field Covered by a Valid Patent Claim, excluding OctreoScan
and OctreoTher, and shall include products, 1) unlabelled in combination with a radioisotope product, or 2) radiolabelled compound,
or 3) an unlabelled compound, sold in a small quantity to be labelled by or for the customer on-site or locally with a generator
isotope for diagnostic purposes.

 

"Marketing
Authorization" means, with respect to a specific country or region in the Territory, the approval by the appropriate
authority necessary for the Commercialization of a Licensed Product in that country or region. For the sake of clarity, Marketing
Authorization shall not include the reimbursement approval by an appropriate authority.

 

"Net
Sales" means, with respect to the Licensed Product (hereinafter collectively referred to as "Product"), the
gross amount invoiced by or on behalf of the relevant Party and its Affiliates, its licensees or sublicensees for the Product
sold to Third Parties other than licensees or sub- licensees in bona fide, arm's-length transactions, less the following customary
deductions, determined in accordance with General Accounting Principles (GAP) as generally and consistently applied by that Party,
to the extent included in the gross invoiced sales price of any Product or otherwise directly paid or incurred by such Party,
its Affiliates or sublicensees with respect to the sale of such Product:

 

		(i)	normal
                                         and customary trade and quantity discounts actually allowed and properly taken directly
                                         with respect to sales of the Product;
		(ii)	amounts actually repaid or credited by reasons of defects,
rejection recalls, returns, rebates and allowances of goods;
		(iii)	charge-backs and other amounts paid on sale or dispensing
of such Product;
		(iv)	rebate amounts payable resulting from governmental mandated
rebate programs;
		(v)	tariffs, duties, excise, sales, value-added and other taxes
(other than taxes based on income);
		(vi)	customary cash discounts for timely payment; (vii) delayed
ship order credits;
		(viii)	discounts pursuant to indigent patient programs and patient
discount programs and coupon discounts; and
		(ix)	all freight, postage and insurance included in the invoice
price.

 

Certain confidential information has
been omitted from this document, as indicated by the notation “[*]”. The omitted information has been filed on a confidential
basis with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

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Sales from a Party
to its Affiliates, its licensees or sublicensee for the Product sold shall be disregarded for purposes of calculating Net Sales.
Any of the items set forth above that would otherwise be deducted from the invoice price in the calculation of Net Sales but which
are separately charged to Third Parties shall not be deducted from the invoice price in the calculation of Net Sales.

 

	a)		In the case of any sale or other disposal of the Product
between or among a Party and its Affiliates or sublicensees for resale, Net Sales shall be calculated as above only on the value
charged or invoiced on the first arm's-length sale thereafter to a Third Party;
	b)		In the case of any sale which is not invoiced or is delivered
before invoice, Net Sales shall be calculated at the time of shipment or when the Product is paid for, if paid for before shipment
or invoice;
	c) 		In
the case of any sale or other disposal for value, such as barter or counter-trade, of any Licensed Product, or part thereof, other
than in an arm's-length transaction exclusively for money, Net Sales shall be calculated as above on the value of the non-cash
consideration received or the fair market price (if higher) of the Product in the country of sale or disposal.

 

In
the event the Product is sold in a finished dosage form containing a Licensed Product in combination with one or more other active
ingredients (a "Combination Product"), the Net Sales of the Product, for the purposes of calculating proposed royalty
payments, shall be determined by multiplying the Net Sales (as defined above in this Article) of the Combination Product by the
fraction, A/(A+B) where A is the weighted (by sales volume) average sale price in a particular country of the Product when
sold separately in finished form and B is the weighted average sale price in that country of the other product(s) sold separately
in finished form. Net Sales for purposes of determining royalty payments shall be agreed by the Parties based on the relative
value contributed by each component, such agreement shall not be unreasonably delayed or withheld.

 

"Party"
means each of Krenning and BioSynthema, and "Parties" means both together.

 

"Patent" means the
patents and patent applications set out in Schedule I, all patents issuing in the future on said patent applications and any divisions,
continuations and continuations-in-part, reexaminations, reissues, additions, extensions, supplementary certificates, and foreign
counterparts thereof. Schedule I will specifically include the list of patents/patent applications corresponding to patent cases
100-7382 and 118-7595.

 

"Royalty
Term" shall be as defined in Section 4.1.2.

 

"Sublicensee"
means a third party granted certain license rights from BioSynthema for Licensed Product.

 

"Territory"
means all countries and territories in the world.

 

Certain confidential information has
been omitted from this document, as indicated by the notation “[*]”. The omitted information has been filed on a confidential
basis with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

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"Therapeutic
Field" means the use of the Licensed Product for therapeutic purposes.

 

"Third
Party" means a person or entity other than (i) BioSynthema, its Affiliates, distributors or agents, or (ii) Krenning or any
of his designees or agents.

 

"Valid
Patent Claim" means on a country-by-country basis a granted claim within the Patent, which has not been held invalid
and/or unenforceable in a decision of a patent office, court or other government agency of competent jurisdiction, unappealable
or unappealed within the time frame allowed for appeal.

 

ARTICLE 2.

LICENSE GRANT
BY [*]

 

2.1 License.

 

Subject to the
terms and conditions of this Agreement, Krenning grants to BioSynthema all of Krenning's rights and interests to a worldwide, irrevocable,
non-exclusive license, including the right to grant sublicenses, to develop, test, make, have made, use, sell, have sold, offer
for sale, distribute, export or import a Licensed Product from the Effective Date of this Agreement and ending with the Expiration
Date, after having the terms of the Patent extended due to regulatory delay where possible under the applicable law ("BioSynthema
License Rights").

 

2.2 Sublicense.

 

2.2.1 Krenning shall
have the right to disapprove and block a proposed sublicense by BioSynthema of BioSynthema's License Rights to a third party,
in which event Krenning and BioSynthema shall meet to discuss the proposed sublicense by BioSynthema with the intent to resolve any
issues that may arise for the purpose of BioSynthema executing such sublicense with a third party. Notwithstanding the above,
Krenning has approved BioSyntbema's right to enter into a sublicense agreement with Mallinckrodt Inc., for the license of BioSynthema's
sublicense rights for the licensed product referred to as Lutate.

 

		2.2.2	In
                                         the event that Krenning is unable to act for the purpose of this provision, for any reason,
                                         including that of incapacity or the death of Krenning, Krenning herein designates that Hendrik
                                         van Rossell, residing in Enkhuizen, the Netherlands, shall act in his place at all times
                                         for the purpose of approving a sublicense of BioSynthema to the license rights granted
                                         to BioSynthema by Krenning herein.

 

2.2.2
Any sublicensee of BioSynthema shall be obligated to Krenning to the same extent that BioSynthema is obligated to Krenning under the Agreement,
(including without limitation with respect to all restrictions, exceptions, royalty obligations, maintenance and availability
for inspection of books and records, reports, termination

 

Certain confidential information has
been omitted from this document, as indicated by the notation “[*]”. The omitted information has been filed on a confidential
basis with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

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provisions
and other provisions applicable to a sublicense), and any sublicense shall not relieve BioSynthema of any of its responsibilities
under the Agreement and BioSynthema shall be fully responsible and liable for all acts and omissions of its sublicensees.

 

2.2.3
BioSynthema shall have the right to negotiate a sublicense to the Agreement, as applicable, with a Third Party without notice
to Krenning, and BioSynthema will in good faith negotiate reasonable and customary terms for such sublicense.

 

ARTICLE 3.

 

SUBLICENSE
& AUDITS

 

3.1 Considerations.

 

In the event that a Third Party agrees
to enter into a sublicense agreement with BioSynthema, the sublicense agreement will include specific provisions on payments to
Krenning, including but not be limited to license and sublicense fees, royalty, Patent costs, and any other payments in kind (the "Proceeds").
In the event there is a conflict between the terms of the Krenning License Agreement and a sublicense agreement, the terms of the Krenning
License Agreement shall prevail, at no costs to Krenning and no financial compensation to BioSynthema by Krenning related to a conflict
between the terms of the Krenning License Agreement and this Agreement, for general or specific damages.

 

3.2 Auditing Rights.

 

3.2.1
Upon the written request of Krenning and not more than once in each calendar year, BioSynthema shall permit an independent certified
public accounting firm of nationally recognized standing, selected by Krenning and reasonably acceptable to BioSynthema, at Krenning's expense,
to have access during normal business hours to such records of BioSynthema as may be reasonably necessary to verify the accuracy
of the royalty reports hereunder for any years ending not more than twenty-four (24) months prior to the date of such request.
The accounting firm shall disclose to Krenning only whether the records are correct or not and the specific details concerning any
discrepancies. All other confidential information of the accounting firm, including working papers, shall be shared exclusively
with the legal counsel representing Krenning, and its subcontractors, for the purpose of analysis and verification, on a confidential
basis, such that information provided by the accounting firm shall not be disclosed to Krenning.

 

3.2.2
If such accounting firm concludes that additional royalties were owed during such period, BioSynthema shall pay the additional
royalties within thirty (30) days of the date of delivery by Krenning to BioSynthema of such accounting firm's written report so concluding.
The fees charged by such accounting firm shall be paid by

 

Certain confidential information has
been omitted from this document, as indicated by the notation “[*]”. The omitted information has been filed on a confidential
basis with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

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BioSynthema, provided
however, that if the audit discloses that the royalties payable by BioSynthema for the audited period are more than one hundred
and five percent (105%) of the royalties actually paid for such period, then Krenning shall pay the reasonable and direct fees and
expenses charged by such accounting firm. Any overpayment determined pursuant to this provision shall be credited to the next
payment due hereunder from BioSynthema. If no further payments by BioSynthema will be due hereunder then a refund of any such
overpayment will be made within thirty (30) days of the delivery of a detailed written accountants' report to the Parties hereto.

 

3.3.         Underpayment.

 

If
at any time during the Term of the Agreement and thereafter, it is determined that BioSynthema or its Exclusive Licensee underreported
sales to Krenning, then any royalty payments related to such under reporting of sales shall be reported and paid to Krenning within sixty
(60) days of BioSynthema or its Exclusive Licensee's first knowledge of such underpaymentwith Interest.

 

ARTICLE 4.

CONSIDERATION
TO [*]

 

4.1   Royalty.

 

4.1.1
Royalty Rate. As a consideration for the license of all of Krenning's rights under the Krenning License Agreement to BioSynthema, BioSynthema
agrees to pay to Krenning or Krenning Designee a royalty on Net Sales of Licensed Product or, if and where BioSynthema License Rights are
licensed to a Third Party, to cause its Sublicensee to pay such royalty on the Territory annual Net Sales of such Licensed Product
during the- Royalty Term according to the following rate:

 

	4.1.1.1  		annual
Net Sales up to USD fifty million ($ 50,000,000), [*] percent ([*]%)

 

	4.1.1.2  		incremental annual Net Sales from USD fifty million ($50,000,000)
through USD one hundred million ($100,000,000), [*] percent ([*]%)

 

	4.1.1.3  		incremental annual Net Sales above USD one hundred million
($100,000,000), [*] percent ([*]%)

 

Payments
to Krenning by BioSynthema shall be made in Euros for all Net Sales invoiced in Euros by BioSynthema or its Sublicensee, without currency
conversion, and in US Dollars for all other Net Sales. Such payments will be
non-refundable and will not be subject to any claims by BioSynthema, its Sublicensee, or any Third party, for any reason.

 

Certain confidential information has
been omitted from this document, as indicated by the notation “[*]”. The omitted information has been filed on a confidential
basis with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

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4.1.2   Royalty Term.
The duration of the royalty obligation shall be determined on a country-by-country basis. Royalties shall be payable quarterly
from the First Commercial Sales of the Licensed Product in a country (i) for the period such Licensed Product's use or sale is
Covered by a Valid Patent in such country, or (ii) for a period of ten (10) years from First Commercial Sales; and if both (i)
and (ii) are applicable, for the longer of either.

 

4.1.3
  Report. BioSynthema sha11generate a report for Krenning within sixty (60) days of the end of each calendar quarter and BioSynthema
shall make payment in full to Krenning the amount due Krenning for the previous calendar quarter within sixty (60) days of issuing such
report. The report shall set forth by country, (i) the Net Sales of Licensed Product, (ii) the number of units of Licensed Product
sold and the royalties payable hereunder, (iii) the withholding taxes, if any, required by law to be deducted in respect of such
sales, (iv) the date of the First Commercial Sales of the Licensed Product in each country during the reporting period, and (v)
the exchange rates used in determining the amount of US Dollars, for such payments that are to be made in US Dollars. With respect
to sales of the Licensed Product invoiced in Euros, the Net Sales, and royalties payable shall be expressed in Euros. ' With respect
to sales of the Licensed Product invoiced in a currency other than Euros, the Net Sales and amounts due to Krenning hereunder will
be expressed in the US Dollars equivalent calculated on a monthly basis in the currency of the country of sale and converted to
their US Dollar equivalent using the following method:

 

The Net Sales in
each country in the Territory at each quarterly period shall be calculated by translating the Net Sales in local currency in each
country in the Territory into those in Euros using the exchange rate mechanism in accordance with General Accounting Practice
(GAP) as generally and consistently applied by U.S. Commercial Pharmaceutical Companies, for such currency calculations.

 

4.1.4
   Interest. Payments due by BioSynthema under the Agreement, when overdue, shall bear interest at a rate per annum equal to LIBOR
(London Interbank Offered Rate) plus one percent (1%) at the time such payment is due, and for the time period until payment is
received by Krenning.

 

4.1.5
   Confidential Financial Information. Krenning shall treat all financial information subject to review under this Article
4 as confidential and shall cause his accounting firm to retain all such financial information in confidence, subject to Section
9.2.5.

 

4.1.6    Payment
Method. Royalty, License Fee and Interest payments by BioSynthema under the Agreement shall be paid in US Dollars and/or in Euros
as provided for in Section 4.1.2, by bank wire transfer or bank check in immediately available funds to such accounts as Krenning shall
designate before such payment is due.

 

Certain confidential information has
been omitted from this document, as indicated by the notation “[*]”. The omitted information has been filed on a confidential
basis with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

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 4.1.7
      Exchange Control. If at any time legal restrictions prevent the prompt remittance of part or all royalties with respect
to any country where Licensed Product is sold, payment shall be made through such lawful means or methods as BioSynthema shall
reasonably determine after consultation with Krenning.

 

4.1.8      
Royalty Accrual. There shall be no obligation to pay Krenning royalties on a reasonable amount of samples lawfully used in the
Territory and on Licensed Product used (and not sold) during pre-clinical or clinical testing, or for physician preference testing,
teaching or experimental purposes, or for any other similar pre-commercial uses of Licensed Product.

 

4.2          Designee.

 

4.2.1   
Krenning shall be entitled to assign his consideration rights during the term of the Agreement to a Designee, upon three months notice
to BioSynthema or its Sublicensee and to cancel such assignment upon a three months prior notice to BioSynthema or its Sublicensee.

 

4.2.2
   BioSynthema's payment to Designee shall relieve BioSynthema of any same payment to Krenning. BioSynthema shall not be liable for any
additional tax or costs that such Third Party beneficiary payment may cause.

 

ARTICLE 5.

PATENTS AND
OWNERSHIP OF INTELLECTUAL PROPERTY

 

5.1          Patent Prosecution and Maintenance.

 

5.1.1
     Pursuant to the Krenning License, Novartis shall have the first responsibility to draft, file, extend, prosecute (including conducting
opposition proceedings), and maintain (including conducting opposition proceedings) the Patent, and any and all of its substitutions,
extensions, or supplementary protection certificates, reissues, renewals, divisions, patents of addition, or registrations of
any kind, in the Territory.

 

5.1.2
     All costs associated with filing, prosecution, maintenance, and term extension associated with regulatory delay of Patents shall
be borne by Novartis .

 

5.1.3     
Cooperation. Krenning will keep BioSynthema informed of any notice from Novartis, of Novartis making any major decision relating
to the maintenance of the Patent, and Krenning shall provide written notification of such change no less than ninety (90) days prior
to any change relating to the maintenance of the Patents in a country.

 

5.1.4      Should Novartis decide to abandon
the Patent in one or several countries Krenning assigns all of his rights to maintain the Patent under the Krenning License to

 

Certain confidential information has
been omitted from this document, as indicated by the notation “[*]”. The omitted information has been filed on a confidential
basis with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

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BioSynthema. Krenning
shall provide written notice to BioSynthema thereof no less than five (5) days from receipt of notice from Novartis of its intent
to abandon the Patent, and eighty (80) days prior to the final date for filing a response or submitting a payment to the relevant
governmental office regarding such Patent after which the Patent would become abandoned. After receiving such notice, BioSynthema
may, but is not obligated to, elect to continue preparation, filing and prosecution or maintenance of the discontinued Patent
at its sole expense. Ownership of any such abandoned Patents by Novartis shall at the request of BioSynthema be fully assigned
by Krenning to BioSynthema. BioSynthema shall promptly prepare and execute such documents and perform such acts as may be reasonably
necessary for assigning such sole ownership to BioSynthema at BioSynthema's sole expense and at no cost to Krenning.

 

5.1.5
Upon abandonment by Novartis of the Patents and election by BioSynthema to maintain said Patents Krenning shall provide reasonable
assistance to BioSynthema and cooperate in the defense of the Patents at the reasonable request of BiuSynthema, at BioSynthema's
sole expense. BioSynthema or its Sublicensee shall also provide to Krenning upon abandonment of the Patents that BioSynthema elects
to continue, all relevant documentation of Patents filings including, but not limited to, records pertaining to the preparation,
filing and maintenance of the Patents, at BioSynthema's or its Sublicensee's sole expense.

 

5.2         
Infringement Claims Against Third Parties.

 

5.2.1
Cooperation. Each Party shall promptly provide written notice to the other Party during the Agreement Term of any known
infringement or suspected infringement of the Patents by a Third Party's commercial making, using, offering for sale, selling,
or importing Licensed Product.

 

5.2.2 Under the
Krenning License, Novartis shall have the first right, but not the obligation, to take, institute and prosecute legal proceedings of
Patent infringements. In the event that Novartis elects not to take, institute and prosecute legal proceedings of Patent infringement
by a Third Party, BioSynthema shall have the right, but Dot the obligation to take such action, without the approval of Krenning. Any
such action taken under this Section 5.2.2 shall be at BicSynthema's or its Sublicensee's sole - costs and benefits.

 

ARTICLE
6.

 TRADEMARKS

  

BioSynthema shall have the sole right
to select a trademark for Licensed Product ("BioSynthema Trademarks)

 

Certain confidential information has
been omitted from this document, as indicated by the notation “[*]”. The omitted information has been filed on a confidential
basis with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

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ARTICLE 7.

SUPPLY OF
LICENSED PRODUCT FOR RESEARCH

 

Erasmus
Pricing for Licensed Product Used for Research. In the event
that Licensed Product is approved for patient use by Erasmus, BioSynthema agrees, and shall cause its Sublicensees, if any, to
agree to supply Licensed Product to Krenning and to Erasmus for all of Erasmus' Product needs at the best price the Product is sold
in the European Union.

 

ARTICLE 8.

REPRESENTATIONS,
WARRANTIES AND COVENANTS

 

8.1
         Representations and Warranties of Both Parties. Each Party warrants and represents to the other Party that it has the full
right and authority to enter into the Agreement and that to the best of its knowledge it is not aware of any reason which would
inhibit its ability to perform the terms and conditions imposed on it by the Agreement.

 

8.2
         Representations and Warranties of Krenning.

 

No
Material Misstatements.       Krenning has not intentionally failed to disclose any information actually known to it which would be material
to BioSynthema entering into this Agreement, and to the best of his knowledge such information does not contain any untrue statement
of material fact or omit to state a material fact.

 

8.3         Representations and Warranties
of BioSynthema.

 

8.3.1
    BioSynthema is duly organized and validly existing under the Laws of Missouri, USA and has fun legal power and authority to
enter into the Agreement.

 

8.3.2
    BioSynthema is not subject to any order, decree or injunction by any court of competent jurisdiction which prevents or materially
delays the consummation of the transaction contemplated by the Agreement.

 

8.3.3    
No Material Misstatements. BioSynthema (i) has fully disclosed to Krenning; (ii) has not intentionally failed to disclose any
information actually known to it which would be material to Krenning entering into the Agreement, and to the best of its knowledge
such information does not contain any untrue statement of material fact or omit to state a material fact.

 

Certain confidential information has
been omitted from this document, as indicated by the notation “[*]”. The omitted information has been filed on a confidential
basis with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

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ARTICLE
9. 

CONFIDENTIAL INFORMATION

 

	9.1		Treatment of Confidential Information. In carrying
out rights and obligations under the Agreement, the Parties may share proprietary information, but shall not be required to share
proprietary information, which shall include any information in any form, whether disclosed orally, or in writing, of any nature,
including, withoutlimitation all: writings, reports, trade secrets, discoveries, ideas, inventions, know-how, business plans,
business opportunities, future projects or products, projects or products under consideration, information related to [mances,
costs, prices ("Confidential Information") with each other. Except as permitted by this Agreement, each Party shall
and shall cause its/his Affiliates and/or licensees/sublicensees to treat Confidential Information received from the other Party
as it treats its own proprietary information. In particular, it shall not disclose, divulge or otherwise communicate such Confidential
Information to Third Parties, or use it for any purpose except pursuant to and in order to carry out its obligations under the
Agreement during the Agreement Term; provided that, each Party (i) may disclose the Confidential Information to such of its directors,
officers,employees, Affiliates, consultants, subcontractors, licensees, sublicensees, agents to the extent reasonably necessary
to carry out its obligations under the Agreement and so far as disclosure is made to each individual on a need to know basis and
each individual is bound by obligations of confidentiality at least as strict as those contained within the Agreement, and (ii)
hereby agrees to exercise every reasonable precaution to prevent and restrain the unauthorized disclosure or use of Confidential
Information.

 

	9.2		Release from Restrictions. The provisions of this
Article 9 shall not apply to any Confidential Information which:

 

9.2.1   was known or used by the receiving
Party or its Affiliates prior to its date of disclosure to the receiving Party or its Affiliates by the disclosing Party or its
Affiliates, as evidenced by the prior written records of the receiving Party or its Affiliates; or

 

9.2.2
  either before or after the date of the disclosure to the receiving Party or its Affiliates, is lawfully disclosed to the receiving
party or its Affiliates by a Third Party rightfully in possession of the Confidential Information and not in breach of any obligation
of confidentiality to the disclosing Party; or

 

9.2.3
  either before or after the date of the disclosure to the receiving Party or its Affiliates, becomes published or generally known
to the public through no fault or omission on the part of the receiving Party or its Affiliates, but such inapplicability applies
only after such information is published or becomes generally known; or

 

9.2.4
  is independently developed by or on behalf of the receiving Party or its Affiliates without reference to or reliance upon any
Confidential Information of the disclosing Party or its Affiliates; or

 

    	13

    	 

    

 

9.2.5
is reasonably determined to be required to be disclosed by the receiving Party or its Affiliates to comply with applicable securities
or other laws, to defend or prosecute litigation or to comply with governmental regulations; the receiving Party or its Affiliates
shall provide prior written notice within twenty (20) days of such disclosure to the disclosing Party or its Affiliates and shall
take reasonable and lawful actions to prevent such disclosure and/or minimize the degree of such disclosure.

 

9.3
Exceptions. The restrictions set forth in this Article 9 shall not prevent either
Party from (i) preparing, filing, prosecuting or maintaining a patent application or its resulting patents related to a Licensed
Product in accordance with the terms of the Agreement; (ii) disclosing Confidential Information to governmental agencies to the
extent required or desirable to secure government approval for the development or marketing of a Licensed Product; or (iii) disclosing
all the necessary information to potential Third Party licensees or sublicensees, respectively, provided such Third Party is bound
by confidentiality provisions at least as strict as the ones contained herein. In particular, Krenning expressly authorizes BioSynthema
to disclose the relevant terms of this Agreement to a potential sublicensee of Licensed Product. Such exception to the Confidentiality
provisions does not allow BioSynthema to disclose any of the terms of the Agreement to other third parties without the approval
of Krenning.

 

ARTICLE
10.

TERM AND REMEDIES
FOR BREACH

 

10.1   
     Agreement Term. The Agreement Term shall commence on the Effective Date and end, unless earlier terminated pursuant
to Section 10.2.1 on the Expiration Date under the Agreement.

 

10.2         Termination for Breach.

 

10.2.1
Either Party shall have the right to terminate the Agreement at any time with immediate effect by giving written notice to the
other in the event that the other Party should willfully breach its obligation under the Agreement and should fail or be unable
to rectify that breach either (i) within ninety (90) days of receipt of written notice specifying the breach, or (ii) within such
additional time as may be reasonably necessary to rectify the breach.

 

10.2.2
In all other cases of breach, the exclusive remedy to a non-breaching Party for any material breach of the Agreement by the other
Party shall be solely for monetary damages plus interest; no other remedies available by law or otherwise shall apply for a breach
of the Agreement. The non-breaching Party shall have the right to demand monetary damages for alleged breach of the Agreement
by the other Party, at any time with immediate effect, by giving written notice to the other Party in the event that the other
Party should commit an alleged material breach of the terms of the Agreement and should fail or be unable to rectify that breach
either (i) within sixty (60) days of receipt of

 

Certain confidential information has
been omitted from this document, as indicated by the notation “[*]”. The omitted information has been filed on a confidential
basis with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

    	14

    	 

    

 

 written notice specifying the breach, or (ii)
within such additional time as may be reasonably necessary to rectify the breach. For the sake of clarity, neither Party shall
be entitled to terminate the Agreement for material breach by the other Party, except as provided under 10.2.1.

 

10.3    
Termination for Bankruntcy. Only if required by applicable law, shall a Party have the right to terminate the Agreement
in the event that the other Party becomes insolvent, makes assignment for the benefit of the creditors, is the subject of proceedings
in voluntary or involuntary bankruptcy instituted on behalf of or against such Party (except for involuntary bankruptcies which
are dismissed within ninety (90) days), or has a receiver or trustee appointed for substantially all of its property. In the event
of the insolvency of a Party, the other Party shall seek only monetary remedies through the applicable courts, and shall not seek
termination of the Agreement. All remedies granted the Party not seeking court administration of its agreements and or operations,
by a court of competent jurisdiction in insolvency and bankruptcy matters, shall be the sale remedies available to the other Party.
In case of termination required by law: (i) due to BioSynthema's insolvency, all the rights shall revert to Krenning, or (ii) due to
Krenning's insolvency, BioSynthema shall have a non-exclusive, perpetual, fully paid-up, royalty-free license under the Remaining Interests,
with the right to sublicense and an exclusive perpetual, fully paid-up, royalty-free license, with the right to sublicense, under
BioSynthema Exclusive Rights. Termination of the Agreement will not release the non-insolvent Party from any obligation to make
any payments to the other Party which were accrued prior to and including the effective date of termination or expiration.

 

10.4        Effect of Termination.

 

10.4.1
Upon early termination of this Agreement by BioSynthema due to Krenning's willful and material breach of his obligations under the
Agreement in accordance with Section 10.2.1, BioSynthema shall be entitled to the full proceeds due from any sublicensee or licensee
under a non-exclusive license or sublicense as set forth in Article 3, including the portion of payments that should have normally
been paid to Krenning. In addition, BioSynthema shall have a sale, perpetual, fully paid-up, royalty- free license under the
Remaining Interests, with the right to sublicense, as well as an exclusive perpetual, fully paid-up, royalty-free license, with
the right to sublicense.

 

10.4.2
Upon early termination by Krenning due to BioSynthema's willful and material breach of its obligations under the Agreement in accordance
with Section 10.2.1, all the rights granted by Krenning hereunder shall revert to Krenning. In addition, Krenning shall be entitled to the full
Proceeds due from any of sublicensee or licensee as set forth in Article 3.

 

10.5       
Survival. Any other provision and any definitions used in such Sections or Article which, by its terms, is understood
to survive the termination or expiration of the Agreement shall survive the expiration or termination
of this Agreement.

 

Certain confidential information has
been omitted from this document, as indicated by the notation “[*]”. The omitted information has been filed on a confidential
basis with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

    	15

    	 

    

 

ARTICLE
11.

INDEMNIFICATION

 

11.1         Indemnification by the Parties.

 

11.1.1
  Krenning agrees to indemnify and hold BioSynthema and its directors, officers, employees and agents (the "BioSynthema Indemnified
Parties") harmless from and against any claims, losses, costs, damages, fees or expenses arising out of or otherwise relating
to (i) the gross negligence or willful misconduct of Krenning or (ii) a breach by Krenning of any of his representations, warranties, covenants
or agreements ("BioSynthema Losses"). The foregoing indemnification shall not apply to BioSynthema Losses to the extent
that they are caused by the gross negligence or willful misconduct of BioSynthema.

 

11.1.2
  BioSynthema agrees to indemnify and hold harmless Krenning from and against any claims, losses, costs, damages, fees and expenses arising
out of or otherwise relating to (i) the development, manufacture, if applicable, labelling, use, offer for sale, sale or other
disposition of Licensed Product, (ii) the gross negligence or willful misconduct of BioSynthema or its sublicensee(s), or (iii)
a breach by BioSynthema of any of its representations, warranties, covenants or agreements ("Krenning Losses"). The foregoing
indemnification shall not apply to Krenning Losses to the extent that they are caused by the gross negligence or willful misconduct
of Krenning.

 

ARTICLE
12.

MISCELLANEOUS

 

12.1   
Publicity. Neither party shall originate any publicity, news release or other public announcement, written or oral,
relating to the Agreement, including its terms, without the prior - approval of the other Party. Any such approval shall not
be unreasonably withheld or delayed. Each Party shall to the extent consistent with applicable laws and regulations limit the
disclosure of the financial terms set forth in this Agreement (such as by requesting confidential treatment of such terns in
documents required to be filed with the U.S. Securities and Exchange Commission).

 

12.2
   Force Majeure. Neither Party to the Agreement shall be responsible to the other Party for non performance or delay in performance
of the terms or conditions of the Agreement due to acts of governments, war, riots, strikes, accidents in transportation, or other
causes beyond the reasonable control of such Party, but such force majeure shall toll any and all obligations and time periods
for so long as such force majeure continues.

 

12.3
   Governing Law. The Agreement shall be governed by and interpreted in accordance with the laws of the Netherlands without giving
effect to principles of conflicts of law. Any dispute which cannot be solved amicably shall be submitted to the exclusive

 

Certain confidential information has
been omitted from this document, as indicated by the notation “[*]”. The omitted information has been filed on a confidential
basis with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

    	16

    	 

    

 

jurisdiction of
the courts of Amsterdam, the Netherlands, should Krenning be the defendant, and of the courts of the City of St. Louis, Missouri, should
BioSynthema be the defendant.

 

12.4  
Waiver. The waiver by a Party of a breach or a default of any provision of the Agreement
by the other Party shall not be construed as a waiver of any succeeding breach of the same or any other provision, nor shall any
delay or omission on the part of a Party to exercise or avail itself of any right, power or privilege that it has or may have
hereunder operate as a waiver of any right, power or privilege by such Party.

 

12.5
  Notices. Any notice or other communication in connection with the Agreement must be in writing
and may be given by any of the following methods: (i) personal delivery against a signed receipt; (ii) registered or certified
mail, postage prepaid, return receipt requested; (iii) by overnight delivery service which obtains a signed receipt; or (iv) by
facsimile transmission with confirmation of delivery. Notice shall be effective when delivered to the addressee at the address
listed below or such other address as the addressee shall have specified in a written notice actually received by the addresser.

 

If to Krenning:

 

Professor Dr. Eric P. Krenning

Hoflaan 71

3062 IC Rotterdam

The Netherlands

 

Certain confidential information has
been omitted from this document, as indicated by the notation “[*]”. The omitted information has been filed on a confidential
basis with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

    	17

    	 

    

 

If to BioSynthema:

 

Jack L. Erion

President

4041 Forest Park Blvd.

St. Louis, Missouri 63108

USA

 

With a copy to BioSynthema General
Counsel:

 

Mary A. Palank

Palank &
Associates LLC

1034 S. Brentwood Blvd., Suite
1630

St. Louis, Missouri 63117

USA

 

12.6
   Payments. All payments to be made by either Party to the other Party shall be made to the bank account of the receiving Party
as directed in writing by the receiving Party at the time payment is to be made.

 

12.7
   No Agency. Nothing herein shall be deemed to constitute an agency, joint venture, amalgamation,
partnership or other similar relationship between BioSynthema and Krenning. Each Party shall be an independent contractor, not an
employee or partner of the other Party. Each Party shall be responsible for the conduct of activities and for any liabilities
resulting therefrom. Neither Party shall be responsible for the acts or omissions of the other Party, nor will either Party
have the authority to speak for, represent or obligate the other Party in any way without prior written authority from the
other Party.

 

12.8    Entire
Agreement. The Agreement and Schedules hereto (which Schedules are deemed to be a part of the Agreement for all purposes)
contain the full understanding of the- Parties with respect to the subject matter hereof and supersede, cancel and annul any prior
written or oral understandings and agreements relating thereto. No waiver, alteration or modification of any of the provisions
hereof shall be binding unless made in writing and signed by the Parties.

 

12.9
   Headings. The headings contained in the Agreement are for convenience of reference only and shall not be considered in construing
the Agreement.

 

12.10
 Severability. In the event that any provision of the Agreement is held by a court of competent jurisdiction to be unenforceable
because it is invalid or in conflict with any law of any relevant jurisdiction, the validity of the remaining provisions shall
not be affected, and the Parties shall negotiate a substitute provision that, to the extent possible, accomplishes the original
business purpose. During the period of such negotiation, and thereafter if no substituted provision is agreed upon, any such provision
which is enforceable in part but not in whole shall

be enforced to the maximum extent permitted
by law.

 

Certain confidential information has
been omitted from this document, as indicated by the notation “[*]”. The omitted information has been filed on a confidential
basis with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

    	18

    	 

    

 

12.11
   Assignment. Neither the Agreement nor any of the rights or obligations hereunder may be assigned by either Party without the
prior written consent of the other Party, except to an Affiliate of the assigning Party and such assignment shall only remain
effective as long as such Affiliate remains an Affiliate of the assigning Party or to any other Third Party who acquires all or
substantially all of the business to which the Agreement relates of the assigning Party by merger, sale of assets or otherwise,
so long as such Affiliate or Third Party agrees in writing to be bound by the terms of the Agreement. In all cases the assigning
Party shall provide the other Party with prompt notice of any such assignment.

 

12.12
   Successors and Assigns. Except as otherwise provided herein, the Agreement shall be binding upon and inure to the benefit
of the Parties hereto and their successors and permitted assigns under Section 12.11.

 

12.13
   Counterparts. The Agreement may be executed in any number of counterparts, each of which shall be deemed an original but all
of such together shall constitute one and the same instrument.

 

IN
WITNESS WHEREOF, the Parties hereto have caused the Agreement to be executed in their names by their properly and duly authorized
officers or representatives as of the dates below written.

 

	Professor Dr. Eric P. Krenning	BIOSYNTHEMA
    Inc.

 

	Date: June
    12th 2007	Date:
    June 12th 2007

 

	 	/s/ Hendrik van Rossem	 
	 	By: 	Hendrik van Rossem
	 	 	 
	 	Title: 	Chairman

 

Certain confidential information has
been omitted from this document, as indicated by the notation “[*]”. The omitted information has been filed on a confidential
basis with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

    	19

    	 

    

 

SCHEDULE 1 —
1. Patent (Case 100-7382)

 

	Country	 	Grant
    Date	 	Patent
    n°	 	Exp.
    Date
	Australia	 	04.06.93	 	633859	 	04.12.09
	Austria	 	09.12.97	 	403476	 	30.11.09
	Belgium	 	20.11.90	 	1002296	 	05.12.09
	Canada	 	22.02.00	 	2004532	 	04.12.09
	Cyprus	 	01.12.95	 	1893	 	01.12.09
	Denmark	 	30.08.04	 	175338	 	05.12.09
	Finland	 	30.09.98	 	101967	 	11.07.14
	Finland	 	31.12.98	 	102540	 	04.12.09
	France	 	21.04.95	 	8915993	 	04.12.09
	Germany	 	20.04.06	 	3991505	 	30.11.09
	Great Britain	 	20.01.93	 	2225579	 	01.12.09
	Greece	 	26.11.96	 	1002475	 	05.12.09
	Hong Kong	 	21.12.95	 	1899/95	 	01.12.09
	Hungary	 	20.09.95	 	211468	 	01.12.09
	Ireland	 	05.12.94	 	62091	 	04.12.09
	Israel	 	25.09.94	 	92534	 	04.12.09
	Italy	 	19.10.93	 	1239285	 	05.12.09
	Japan	 	10.06.05	 	3686503	 	04.12.09
	Japan	 	05.12.97	 	2726320	 	04.12.09
	Korea South	 	22.07.98	 	156541	 	22.07.13
	Luxemburg	 	18.09.91	 	87633	 	05.12.09
	Malaysia	 	31.03.95	 	106120	 	31.03.10
	Netherland	 	03.04.03	 	194828	 	04.12.09
	New Zealand	 	20.01.94	 	231623	 	04.12.09
	Nigeria	 	13.04.93	 	10732	 	05.12.09
	Pakistan	 	21.03.92	 	132014	 	05.12.09
	Philippines	 	07.05.96	 	29649	 	07.05.13
	Poland	 	28.09.93	 	163432	 	04.12.09
	Portugal	 	20.10.95	 	92487	 	20.10.10
	Saudi Arabia*	 	 	 	 	 	01.01.09
	Singapore	 	15.04.97	 	38709	 	01.12.09
	South Africa	 	28.08.91	 	89/9285	 	05.12.09
	Spain	 	22.11.91	 	2023533	 	05.12.09
	Sweden	 	09.11.98	 	8904087-7	 	04.12.09
	Switzerland	 	30.08.91	 	678329-6	 	30.12.09
	Tanganyida	 	30.09.97	 	2533	 	01.12.09
	Trinidad+Tabago	 	14.11.95	 	78/95	 	01.12.09
	USA	 	19.05.98	 	5753627	 	06.06.15

 

    	20

    	 

    

 

	Country	 	Grant
    Date	 	Patent
    n°	 	Exp.
    Date
	USA	 	07.07.98	 	5776894	 	07.07.15

 

*Saudi Arabia: patent application still
pending, filing number 95160495

 

SCHEDULE Ia — Additional Patent
(Case 100-7774)

 

	Country	 	Grant
    Date	 	Patent
    n°	 	Exp.
    Date
	Belgium	 	09.08.00	 	515313	 	20.05.12
	Canada	 	07.01.03	 	2069154	 	21.05.12
	France	 	09.08.00	 	515313	 	20.05.12
	Germany	 	09.08.00	 	515313	 	20.05.12
	Great Britain	 	09.08.00	 	515313	 	20.05.12
	Italy	 	09.08.00	 	515313	 	20.05.12
	Japan	 	14.02.03	 	3397338	 	22.05.12
	Netherlands	 	09.08.00	 	515313	 	20.05.12
	Switzerland	 	09.08.00	 	515313	 	20.05.12

 

    	21Exhibit 10.6

 

 

CLINICAL SERVICES AGREEMENT

 

THIS CLINICAL SERVICES AGREEMENT (together
with all corresponding Exhibits, "AGREEMENT") is entered into as the 1st of November 2011 by and between Advanced
Accelerator Applications, with registered office in Saint-Genis-Pouilly, 20 rue Diesel, France ("SPONSOR"), and Pierrel
Research Italy Spa ("CRO"), with registered office in Via Pietro Mascagni 14, Milan, Italy and operational offices in
Italy, in Sesto S. Giovanni (MI), Via Alberto Falck 15 and in Cantù (CO), Via Como 5.

 

WHEREAS, SPONSOR requires various clinical
research services in support of the clinical trial “A multicenter, stratified, open, randomized, comparator-controlled parallel
groups phase III study comparing treatment with 177Lu-DOTA0-Tyr3-Octreotate to Octreotide LAR in patients with inoperable, progressive
, somatostatin receptor positive midgut carcinoid tumours ” (“Project” or “Study”) to be conducted
in various clinical institutions according to the protocol synopsis which is set forth in Exhibit A to this Agreement (“Protocol”);

 

WHEREAS, CRO is properly qualified by the competent
regulatory authorities and engaged in the business of providing such services;

 

WHEREAS, CRO has been approved by The French
Ministry of Higher Education and Research, as an organization carrying out R&D activities for the account of private companies
(see Exhibit B) and said approval is needed in order to enable AAA to benefit of the so called “Credit d’impôt
recherché (CIR)”;

 

WHEREAS, SPONSOR and CRO entered into a Letter
of Intent dated 01 May 2011 and following First Extension and Amendment of the Letter of intent dated 01 September 2011, concerning
some preliminary clinical research services linked to the clinical services of this Agreement (“Start-up Agreement”);

 

WHEREAS, pursuant to the Start-up Agreement
CRO has invoiced to SPONSOR the overall amount of Euro 178.375,50 for CRO services activities, Euro 3.576,00 for CRO Operational
Costs and Euro 23.290,00 for Pass-Through Costs.

 

NOW, THEREFORE, for good and valuable consideration,
and intending to be legally bound, SPONSOR and CRO hereby agree as follows:

 

1. SCOPE OF AGREEMENT 

 

1.1           The
specific responsibilities, tasks and obligations to be performed by CRO with respect to the Project, as set forth in the Protocol,
and relevant timing (the "Services") are expressly set forth in Exhibits C attached to this Agreement, which,
together with the Exhibits attached hereto, are incorporated by reference herein. The responsibility for the Services is being
transferred to CRO in accordance with the applicable provisions of law concerning the CRO activity.

 

    	 

    	 

    

 

Execution copy

 

Sponsor authorises the CRO to conduct the Services,
to submit on its behalf the Protocol as well as any subsequent amendment, previously shared and agreed with SPONSOR, to all Competent
Authorities for approval.

Without prejudice of the of paragraph 2.1 below,
Parties agree that the agreements with the jointly selected central laboratories for the purpose of the implementation and execution
of the Project will be signed directly by CRO in the exclusive interest of Sponsor.

 

Without prejudice of the provision of paragraph
1.3 below, Parties agree that the agreements with Public Institutions (hospitals) in USA and in Switzerland for the purpose of
the implementation and execution of the Project will be signed directly by CRO in the exclusive interest of Sponsor and will be
in line with the budgeted costs. Payments under said agreements shall be invoiced by the USA and Swiss Public Institutions to Pierrel
and Pierrel will pay the invoiced amount to them. Said pass-through cost shall be charged to AAA according to paragraph 2.5.2)
below, provided that SPONSOR may require that CRO invoices the Pass-Through Costs relevant to USA Public Institutions be charged
and invoiced to SPONSOR’s USA affiliate and, upon SPONSOR’s request, CRO shall invoice as required by SPONSOR.

 

The agreements with Public Institutions (hospitals)
in EU countries will be signed by Sponsor, being agreed between the Parties that the CRO will take care of the negotiation and
managing of the agreements (contact with the institution, negotiation and finalization of the agreement), and will help SPONSOR
to manage the payments: EU Public Institutions will invoice SPONSOR for any payment under their agreements and SPONSOR will directly
pay the amount so invoiced and CRO shall timely check all invoices issued by the EU Public Institutions to ensure that the relevant
amounts are effectively due under the relevant agreements.

 

The Services regulated by this agreement include
the sub-study in Protocol N° AAA-III-01/FINAL version 1.0, November 14th, 2011, Par. 6.6 Dosimetry, Pharmacokinetics and ECG
(from page 64 to page 70)  -  and related appendices. If SPONSOR requires CRO to make additional sub-studies, CRO shall
provide SPONSOR with a budget proposal that, if and when accepted by SPONSOR, will be regulated as an addendum to the present agreement.

 

1.2           CRO
agrees to provide the Services in accordance with this Agreement and its Exhibits and: (a) all applicable laws and regulations,
including without limitations the Declaration of Helsinki, the ICH-Guideline of Good Clinical Practice (CPMP/ICH/135/1995), Directives
2001/20/EC and 2005/28/EC and the laws and regulations implementing said directives in each territory where the Project is performed;
(b) the relevant provisions regulating the ethic committee activity and taking into account the peculiarity of the clinical institutions
involved. CRO will use (i) appropriately qualified and trained personnel, (ii) standard operating procedures, ensuring a full compliance
with the above mentioned guidelines and regulations and, in general (iii) the standard of care that are customary required in the
performance of the type of services as the Services.

 

1.3. CRO will take all reasonable steps to
ensure that personnel it uses to perform its obligations under this Agreement are appropriately trained and qualified to conduct
the Study in accordance with the terms of this Agreement.

CRO shall promptly deliver general terms and
conditions of any agreement which CRO is negotiating with clinical institutions (including Public Institutions – hospitals
- in USA) or subcontractors for the performance of any of the Services. SPONSOR is committed to give its feedback on the received
documents as soon as possible and in any case in no more than 5 working days (i.e. days when banks are open both in France and
in Italy) and CRO shall take it in due consideration.

Upon SPONSOR request, CRO shall deliver any
executed agreement between CRO and clinical institutions or subcontractors.

 

    	2

    	 

    

 

  Execution copy

 

For the avoidance of doubt, any subcontractor
of the Services (in whole or in part) must be previously approved by SPONSOR.

In case any of the Services is subcontracted,
CRO shall remain fully responsible for its performance under this Agreement.

As far as subcontracting with external laboratories
is concerned, SPONSOR shall be responsible jointly with CRO for those contractual obligations - referred to the CRO in the agreements
signed between CRO and external laboratories - that involve SPONSOR’s actions or responsibilities.

 

1.4           CRO
warrants its full cooperation with the SPONSOR in pursuing the completion of the Project. To this purpose, CRO undertakes to submit
to SPONSOR for approval the necessary and appropriate documentation for the start-up, conduct and reporting of the Study. CRO shall
upon SPONSOR request and in any case at least monthly report to SPONSOR on the progress (activities, results and timing) of the
Project and Services and provide to SPONSOR all requested documents and details in relation thereto.

 

1.5           In
the event the position of any person dedicated to the Project remains for any reason vacant during the performance of the relevant
Service, CRO shall immediately notify SPONSOR of such event and, subject to SPONSOR’s written consent which shall not be
unreasonably withheld, shall appoint without delay another qualified person in order to ensure the continuity of the performance
of such a Service without any interruption.

 

2. PAYMENT

 

2.1           In
consideration of the Services, SPONSOR shall pay to CRO the Service Fees and Pass-Through Costs provided in Exhibit C (except for
the amount of the “Investigator Grant” for the EU countries, which shall be paid directly by SPONSOR as provided in
paragraph 1.1. above), provided that the relevant price/cost per unit are definitively agreed (without prejudice of the provision
of paragraph2.4), but the aggregate amount of the Service Fees and Pass-Through Costs may change in case the number of units vary.
The amount chargeable by CRO to SPONSOR under the term of this Agreement, excluding the preliminary clinical research services
performed by CRO pursuant to the Start-up Agreement, is estimated in Euro 3.102.181,00 for Service Fees (the amount includes “CRO
Services Fees” and “CRO Operational Costs”) and Euro 4.196.140,00 for Pass-Through Costs (all as better described
and detailed in Exhibit C and except for the amount of the “Investigator Grant” for the EU countries), unless otherwise
agreed in writing by both SPONSOR and CRO.

 

2.2           In
the Pass-Through Costs amount are not included the Pass-Through Costs related to external laboratories (KEOSYS-QUALIM and INTERLAB)
and related to insurance coverage (if any) for DSMB members; these Pass-through costs will be in any case regulated by this Agreement
– provided that they are previously agreed with the SPONSOR - and will be subject to the same billing as the Pass-Through
Cost detailed in Exhibit C, that is as indicated in article 2.5.2): the relevant amount shall be ascribed to the upfront payment
under article 2.5.2)(a) until the same is reached and will thereafter invoiced by CRO to SPONSOR “at cost”. Any agreement
with external laboratories (KEOSYS-QUALIM and INTERLAB or others) or related to insurance coverage, which is not included in the
above estimate must be negotiated with the participation of SPONSOR and its execution and any future amendment must be previously
approved by SPONSOR.

 

2.3           As
used in this Agreement, the term "Pass-Through Costs" means all investigator’s grants, ethics committee fees, shipping
costs, external vendors costs (if applicable), or other applicable pass-through costs actually incurred by CRO under this Agreement
or the Exhibit(s)

 

    	3

    	 

    

 

  Execution copy

 

in order to expedite successful completion
of the Project, which costs are normal and routine to studies similar to such Project.

 

2.4           CRO
hereby represents to SPONSOR that the Service Fees and Pass Through Costs provided in Exhibit C have been determined and made after
due and careful inquiry. It is also agreed that Starting 1st of May, 2012, and each May for the following years, a %
service price increase based on the Official European CPI (Consumer Price Index) of the previous year, will be applied to the Services
Fees provided in Exhibit C .

 

2.5   The payments will be regulated as follow:

 

		1)	Payments for Service Fees will be made accordingly to the following (see also Exhibit D):

 

(a) within January 2012,
CRO shall invoice to SPONSOR Euro 277.336,50 as upfront payment for Service Fees in Europe and Euro 187.990,65 as upfront Payment
for Service Fees in USA

 

(b) every subsequent month,
for 40 months (from February 2012 till May 2015 included), CRO shall invoice to Sponsor fixed instalments of Euro 39.289,34 for
Service Fees in Europe and Euro 26.632,01 for Service Fees in USA.

 

With the monthly instalments, CRO shall also
invoice the amounts indicated in Exhibit C with the wording: “as required/if required/at cost”, if any and after Sponsor
approval.

 

As far as the instalments related to USA are
concerned, the art. 2.7 will be applied.

 

		2)	Payments for Pass-Through Costs will be made accordingly to the following:

 

(a) Within January 2012,
CRO shall invoice to SPONSOR Euro 200.000,00 as upfront payment for pass-through costs in Europe and Euro 80.000,00 as upfront
Payment for Pass-through costs in USA.

 

(b) When, with the incurred
Pass-Through Costs, the amount of the upfront payments will be reached, CRO will start issuing monthly invoices to SPONSOR for
the amount of Pass-Through Costs effectively incurred in the preceding month (in excess of the upfront payment under letter (a)
above), including also the “at cost” Pass-Through Costs, if any.

 

In the event that SPONSOR requires detailed
information relating to any Pass Through Cost (excluding the ones where a flat rate/fixed cost has been agreed), SPONSOR may, at
its option visit CRO facilities pursuant to Section 8 contained herein or promptly receive by CRO the relevant documents evidencing
the incurred Pass-Through Costs.

 

As far as the invoices related to USA are concerned,
the art. 2.7 will be applied.

 

2.6           Sponsor
shall make all payment to CRO in Euro and accordingly CRO shall invoice SPONSOR in said currency.

 

As far as the upfront payments
are concerned (see 2.5.1.a and 2.5.2.a), SPONSOR shall pay by bank transfer the amount undisputed and invoiced to it by the CRO
in Euro at the receipt of the invoices; for the subsequent invoices Sponsor shall pay by bank transfer the amount undisputed and
invoiced to it by the CRO in Euro within 30 days from the end of the month of the invoice.

 

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Following are the wire
transfer instructions for CRO, provided that, even if CRO designates new wire transfer instructions from time to time during the
Term by written notice to SPONSOR, CRO’s bank accounts shall be always in the EU.

 

All payments to CRO shall be made to:

 

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Bank   

Account Name        

Account Number                                                     

IBAN 

Swift Code   

 

The CRO shall submit all invoices to the SPONSOR
at the address listed below:

 

Advanced
Accelerator Applications, 20 Rue Diesel, 01630 Saint-Genis-Pouilly, France.

 

2.7           As
far as USA is concerned, the parties agree not to mitigate for fluctuations in the exchange rate if the closing daily euro/USD
exchange rate on the date of invoice for the rendered services and pass-through costs (as reported in the Wall Street Journal)
is equal to or between 1,45 and 1,15 euro to the USD, but (i) if such exchange rate is greater than 1,45 euros to the US Dollar
for more than 60 consecutive days, then the price for the services and pass-through costs in Euro will be decreased in the same
proportion as the ratio of (a) 80% of the average increase in the closing daily euro/USD exchange rate during those 60 days to
(b) 1,45; and (ii) if such exchange rate is less than 1,15 euros to the US Dollar for more than 60 consecutive days, then the price
for the services and pass-through costs in euros will be increased in the same proportion as the as the ratio of (a) 80% of the
average decrease of the closing daily euro/USD exchange rate during those 60 days to (b) 1,15.

By way of example,
if the average closing daily euro/USD exchange rate during a period of 60 consecutive days in which the
exchange rate exceed 1,45 equals 1,60 euros to the UD Dollars, then the price for the service will be reduced as follows:

 

80%
(1,60 euro minus 1,45 euro) / 1,45 euro = 0,08

1000,00
euro minus (1000,00 euro X 0,08) = 920,00 euro (new price)

 

By
way of example, if the average closing daily euro/USD exchange rate during a period of 60 consecutive days in which the exchange
rate is below 1,15 equals 1,00 euros to the UD Dollars, then the price for the service will be increased as follows:

 

80%
(1,15 euro minus 1,00 euro) / 1,15 euro = 0,10

1000,00 euro plus (1000 euro X 0,10) = 1100,00
euro (new price)

 

2.8.          The
cost, fee and budget estimates specified in Exhibit C with respect to the STUDY are subject to a number of general and specific
assumptions. The general assumptions (collectively, the “ ASSUMPTIONS”) are as follows:

		·	There are no material changes to Exhibits
A ;

		·	CRO and SPONSOR will each execute all
of their obligations under this Agreement in a timely fashion;

		·	CRO and SPONSOR will fully cooperate with
each other in the performance of their obligations under this Agreement and refrain from any actions or inactions which prevent
each from timely or properly performing its obligations hereunder and there under, respectively; and

		·	No event outside of CRO’s control
occurs (that is events related to safety, IMP supply issues, force majeure events - see also art. 11- and events under direct Sponsor’s
responsibility.

 

Certain confidential information has been omitted from this document,
as indicated by the notation “[*]”. The omitted information has been filed on a confidential basis with the Securities
and Exchange Commission pursuant to a request for confidential treatment.

 

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In the event that SPONSOR desires to modify
or deviate from any of the ASSUMPTION, or CRO reasonably determines and evidences that the STUDY objectives cannot be fulfilled,
based on the ASSUMPTIONS, (each a “DEVIATION”) then the budget, fees, costs and time estimates for such STUDY as specified
in Exhibit C shall be modified in accordance with the terms of this Section.

 

In the event a DEVIATION is identified, the
identifying party shall notify the other party of such DEVIATION. Within 15 working days from the receipt by CRO or from sending
of such DEVIATION notice, CRO shall provide SPONSOR with an estimate of the modification to the timeline, costs and fees and overall
budget (whether an increase or decrease) arising from such DEVIATION, if any, provided that said costs and fees shall be in line
with costs and fees agreed in Exhibit C. SPONSOR shall have 15 working days to approve such modification estimates.

 

If SPONSOR does not, in its reasonable discretion,
approve the modification estimates and has not terminated the Study but prefer the STUDY to be modified to take in account the
DEVIATION, then CRO and SPONSOR shall use their commercially reasonable efforts to agree on modification estimates that are mutually
acceptable.

Once the DEVIATION is approved by SPONSOR and
the modification estimates are agreed, the services and activities included in the DEVIATION shall be considered Services under
this Agreement and the Study and Project accordingly amended.

During the DEVIATION ASSESSMENT PERIOD (defined
below), CRO shall continue work on the STUDY if practicable but shall not implement the modification representing the DEVIATION
unless approved by SPONSOR.

 

For purposes of this Agreement, “DEVIATION
ASSESSMENT PERIOD” means the time from the date CRO sends or receives a notice of DEVIATION pursuant to this Section and
the date SPONSOR either accepts or rejects CRO’s modification estimates as specified in this Section.

 

2.9           The
following bonus/malus is agreed between the Parties:

 

a) In case CRO will reach the target of final
draft report within 43 months from the start of the activities (that is from 1st of November, 2011), SPONSOR will pay
to CRO, in addition to the full contract value (i.e. the overall amount of the Service Fees and Pass Through Costs under this Agreement),
a BONUS of Euro 400.000,00.

 

b) If CRO will not deliver the final draft
report within 43 months from the start of the activities (that is from 1st of November, 2011) and the reason for such
a delay is other than safety, IMP supply issues, force majeure events (see also art. 11) and events under direct Sponsor’s
responsibility, CRO will continue the study activities on its own charge and expense for Service Fees up to a value of Euro
400.000,00.

 

3. CONFIDENTIALITY

 

3.1           In
connection with the performance of the Services, SPONSOR shall provide to CRO, and CRO shall have access to, SPONSOR's Confidential
Information. As used in this Agreement, "SPONSOR’s Confidential Information" means any: (a) information provided
by, or developed for, SPONSOR within the framework of this Agreement, the Start-up Agreement, the Exhibit(s) or the Project; or
(b) data collected or developed during the Project.

 

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3.2           In
connection with this Agreement, SPONSOR will have access to, or become acquainted with, CRO's Confidential Information. As used
in this Agreement, "CRO's Confidential Information" means any: (a) information generated or obtained in connection with
CRO's pricing, proposals or contracts; (b) CRO's procedures, programs, guidelines or policies (including, without limitation, its
Standard Operating Procedures).

 

3.3           Neither
SPONSOR's Confidential Information nor CRO's Confidential Information (collectively, "CONFIDENTIAL INFORMATION") shall
include any information that:

(a) was known by the receiving party at the
time of disclosure to it by the disclosing party, or that is independently developed or discovered by the receiving party, after
disclosure by the disclosing party, without the aid, application or use of any item of the disclosing party's Confidential Information,
as evidenced by written records;

(b) is now or subsequently becomes, through
no act or failure to act on the part of the receiving party, generally known or available;

(c) is disclosed to the receiving party by
a third party authorized to disclose it; or

(d) is required by law or by court or administrative
order to be disclosed; provided, that the receiving party shall have first given prompt notice to the other party of such required
disclosure.

 

3.4           Each
party shall exercise due care to prevent the unauthorized use or disclosure of the other party's Confidential Information, and
shall not, without the other party's prior written consent: (a) use the other party's Confidential Information for any purpose
other than performing its obligations under this Agreement and the Exhibit(s); or (b) disclose or otherwise make available, directly
or indirectly, any item of the other party's Confidential Information to any person or entity other than those employees, independent
contractors, agents or investigators of such party and/or its affiliated entities (collectively, "Representatives") who
reasonably need to know the same in the performance of such party's obligations under this Agreement (including the Exhibit(s)),
or in order to make decisions or render advice in connection therewith. Each party shall advise its Representatives who have access
to the other party's Confidential Information of the confidential nature thereof, and agrees that such Representatives will be
bound by terms of confidentiality and restrictions on use with respect thereto that are at least as restrictive as the terms of
this Section 3 (it being understood that each Party shall remain responsible to the other for any breach by the respective Representatives
of the confidentiality obligations under this Agreement).

 

3.5           The
provisions of this Section 3 shall survive until the information remains Confidential Information and, in any event, for a period
of ten (10) years from the date of any expiration or termination of this Agreement, however caused.

 

4. PERSONAL DATA

 

4.1           The
Parties, duly informed with reference to the relevant legislative provisions on privacy and data protection, express their reciprocal
consent and authorization for the processing and communication of their personal data which is necessary for any specific accounting
and tax requirements and also for execution and management of relationship and contractual obligations between themselves.

 

4.2           With
regard to all patients’ personal and sensitive data processing that are caused by performance of the SERVICES, the Parties
agree that SPONSOR is the data controller and CRO is the data processor. For this purpose the parties shall enter into an appointment
of

 

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“data processor”. CRO commits to
comply with all applicable laws and regulations concerning personal data protection and treatment, including collecting all required
authorizations and appointing the persons in charge of the processing where required.

 

4.3           All
information provided under this Agreement by CRO to SPONSOR, final report, Case Report Forms and SAS datasets included, will be
made available only under coded data format or in aggregated form, as appropriate, without any identifiable personal data. The
Project will be therefore conducted by CRO in a way to prevent disclosure of any identifiable patient personal data to any SPONSOR’s
employee according to the ICH, to applicable law, regulation and guidelines (including but not limited to the Italian Data Protection
Authority’s “Guidelines for Data Processing within the Framework of Clinical Drug Trials”) . Any knowledge or
treatment of such patient personal data by CRO and its employees or collaborators will be made in strict compliance with applicable
laws and regulations on personal data, provided any prior express consent and authorization is duly obtained.

 

5. PROPERTY OF SPONSOR

 

5.1           All
(a) of SPONSOR's Confidential Information (including, without limitation, all original Project records and reports), (b) unused
clinical supplies provided by SPONSOR, and (c) complete and incomplete Case Report Forms, which in any case are in CRO's possession,
shall be and remain SPONSOR's property.

 

5.2           All
inventions, improvements, know-how, new uses, processes and compounds involving or however concerning the Study, drug(s) and/or
product(s) covered by this Agreement and/or the Exhibit(s) and /or the Project that are conceived or reduced to practice or however
result from the Study or the Services under this Agreement (including any work performed by clinical institutions, external laboratories
or subcontractors) ("Results") shall be and remain the sole property of SPONSOR. CRO shall cooperate fully with SPONSOR
in obtaining, at SPONSOR's sole cost and expense, any patent protection as may be available for the Results, and shall execute
all documents reasonably deemed necessary by SPONSOR for purposes of procuring such patent protection. CRO agrees that it shall
endeavour to ensure contractually the prompt disclosure to SPONSOR by any investigator, employee or other individual retained by
CRO for the Project of any Results, as well as the cooperation of such persons in securing patent protection as set forth herein.

 

5.3           Notwithstanding
the foregoing, SPONSOR acknowledges that CRO and its professional staff currently possess certain inventions, processes, know-how,
trade' secrets, methods, approaches, analyses, improvements, other intellectual properties and other assets including, but not
limited to, clinical trial management analyses, analytical methods, procedures and techniques, computer technical expertise and
proprietary software, and technical and conceptual expertise in the area of conducting clinical trials, all of which have been
developed independently by CRO without the benefit of any information provided by SPONSOR (collectively, "CRO Property").
SPONSOR agrees that any CRO Property which is used, improved, modified or developed by CRO under or during the term of this Agreement
shall be and remain the sole and exclusive property of CRO.

 

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6. RESTRICTIONS ON ANNOUNCEMENTS

 

CRO shall not make any announcement, oral presentation
or publication relating to the Project without SPONSOR's prior written consent (which consent shall not be unreasonably withheld),
except as required by law or by court or administrative order. The Parties shall coordinate the wordings of such announcement,
oral presentation or publication. Neither party shall employ or use the name of the other party in any publication or promotional
material or in any form for public distribution, without the prior written consent of the other party, except as required by law
or by court or administrative order.

 

7. INSPECTIONS

 

In the event that CRO receives a notice of
inspection (a "Notice") from any authority entitled to do so which relates to the Project, CRO shall: (a) notify SPONSOR
promptly of such Notice; (b) keep SPONSOR informed of the progress of the inspection; and (c) provide to SPONSOR a copy of any
documents produced to the inspecting authority pursuant to such Notice. SPONSOR acknowledges that it is CRO's obligation to respond
to a Notice directed to CRO. CRO ensures the attendance of one of its representatives, to be previously agreed upon with the Sponsor,
during all the inspection operations.

SPONSOR shall have the right to perform co-monitoring
visits or audit at the CRO/subcontractor facilities or at the investigator’s sites with respect to the services provided
for the STUDY with reasonable prior written notice and with normal business hours. In such a case, the CRO will assist and cooperate
with the SPONSOR.

 

8. ACCESS TO FACILITIES

 

SPONSOR's authorized representatives may visit
CRO's site and facilities at reasonable times and with reasonable frequency during normal business hours and upon reasonable advance
written notice, to observe the progress of any Services.

 

9. INDEMNIFICATION AND WARRANTIES

 

9.1           CRO
shall defend, indemnify and hold harmless SPONSOR, its affiliated entities, and their respective trustees, officers, agents and
employees from any and all losses, costs, expenses, liabilities, claims, actions and damages, directly and objectively attributable
to the responsibility of CRO in the conduction of the Project and/or performance of the Services including without limitations,
the failure to strictly comply with the Protocol, with good clinical practices, with Service timelines, with SPONSOR's written
recommendations and instructions relative to the conduct of the Project, or with any applicable law, regulations or authority’s
requirements, subject to the restrictions set forth in articles 9.2 and 9.3 below.

 

9.2           The
above obligation of CRO shall not apply nor shall CRO be liable for any indemnification or expenses, and in fact, SPONSOR shall
defend, indemnify, and hold harmless CRO, for actions or claims in any way arising from or caused by the wilful misconduct or gross
negligence of SPONSOR or arising from or caused by any of its failures to comply with this Agreement.

 

9.3           The
obligation of the indemnifying party hereunder, in connection with a third party claim or suit, shall apply only if the other party
provides prompt written notification upon receipt of notice of any claim or suit (provided, however, that neither party shall be
released

 

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from its obligations under this Section 9 if
the failure to promptly notify the other party does not materially prejudice the defence of any claim), permits the indemnifying
party and its attorneys and personnel to handle and control the defence of such claims or suits, including pre-trial, trial or
settlement, and the indemnified party fully cooperates and assists in such defence. The indemnified party further agrees that it
will not settle or compromise any such claim or suit without the prior written consent of the indemnifying party.

 

9.4           The
parties shall secure and maintain in full force and effect through the performance of the Project (and following termination of
the applicable Study to cover any claims arising from the applicable Study) insurance coverage in amounts appropriate to the conduct
of the Project and the Services contemplated by the applicable Project, and shall provide evidence of insurance coverage in an
acceptable form upon request.

 

9.5           In
the event any breach or default by any of the Party of this Agreement with respect to its obligations under this Agreement, the
respective Party’s damage liability to the other Party for such breach or default shall be limited to emerging damages (i.e.
“danno emergente” under Italian law), except in case of losses sought or awarded for death or bodily injury for which
such limitation shall not apply.

 

9.6           CRO
represents and warrants that this Agreement will be performed in material compliance with all applicable laws and regulations,
including without limitation, laws and regulations relating to health, safety and environment, fair labour practices, unlawful
discrimination.

 

9.7           CRO
shall maintain/extend/renew, for the entire duration of this Agreement, the approval by the French Ministry of Higher Education
and Research mentioned in the premises of this agreement (the “French Ministry Approval”).

 

Without limitation of the foregoing, CRO shall
make all filings and take all actions needed in order to maintain/extend/renew the French Ministry Approval and use its best effort
thereto.

 

In case the French Ministry Approval is not
maintained/extended/renewed for the entire duration of the Agreement, due to responsibility directly and objectively attributable
to CRO, CRO shall pay to SPONSOR – also by way of set off with any amount due by SPONSOR to CRO under this agreement - as
forfeiture (“penale” under Italian law), per each year in which the French Ministry Approval is not maintained/extended/renewed,
30% of the Services Fees invoiced in the reference year.

 

The above is provided that, in case the French
Ministry Approval is not maintained/extended/renewed due to changes in the applicable legislation that prevent CRO to obtain it,
the above provided forfeiture shall not apply.

 

10. DURATION AND TERMINATION

 

10.1         Without
prejudice of the Parties’ rights in case of breach of this Agreement by the other Party, this Agreement is applicable to
all Services rendered or to be rendered by CRO with respect to the Project, in accordance with Exhibit C, from 1st of
November, 2011 until May 2015 (43 months).

 

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In case art. 2.9 b) shall apply, the duration
is extended until completion of the Services or up to the € 400.000,00 value stated therein (whatever
occurs first)

 

10.2         Without
prejudice of any other remedy available, SPONSOR will be entitled to terminate this Agreement at any time by registered letter
upon serious breach by CRO of its obligations not remedied, provided remediation is possible, within the term set out by SPONSOR.

 

10.3         SPONSOR
shall have the right at any time to terminate the Agreement at will, serving thirty (30) days written notice to CRO.

 

10.4         In
the event the Agreement is terminated by SPONSOR pursuant to article 10.3 above, SPONSOR shall pay to CRO all Service Fees
due and owed in relation to conforming Services completed and Pass-through costs incurred through the effective date of termination,
provided that they are duly documented.

Also SPONSOR shall pay an additional amount
corresponding to the 15% of the Service Fees relating to the Services not performed, due to the termination; in the amount of the
Services Fees relating to the Services not performed the bonus must be also considered if (i) the timing of the Services as provided
in Exhibit C was respected up to termination and, if not respected, (ii) the reason for such a delay is force majeure events (see
also art. 11) or safety, IMP supply issues and other events under direct Sponsor’s responsibility.

 

10.5         Upon
receipt of a termination note, CRO shall over a ninety (90) days period cease performing any work not necessary for the orderly
closeout of the Project or for the fulfilment of regulatory requirements. CRO shall use its best efforts to minimize any expenses
resulting from any such early termination.

Except as provided above, CRO shall not be
entitled to any other compensation nor indemnification in case of termination of this Agreement under the above article 10.3.

 

10.6         Any
funds or advance payments held by CRO which by contract are deemed unearned shall be returned to SPONSOR within 30 (thirty) days
after expiration or termination of this Agreement.

 

10.7         Following
termination of this Agreement or the finalization of the Clinical Study Report, CRO shall forward, within 60 (sixty) days all original
Project records and reports (including any CONFIDENTIAL INFORMATION) to SPONSOR (or to a repository designated by SPONSOR in writing),
SPONSOR being the owner of all Project documentation, information and results. Thereafter, CRO shall retain only the documentation
related to such Project that is required according to ICH regulation or local regulations on retention and destruction of records.

 

11. FORCE MAJEURE

 

If either party's performance of this Agreement
or any Exhibit is prevented, restricted or delayed (either totally or in part) by reason of any cause beyond the reasonable control
of the parties, such as acts of God, explosion, disease, weather, war, insurrection, civil strike, riot or power failure, the party
so affected shall, upon giving notice thereof to the other party, be excused from such performance to the extent of such prevention,
restriction or delay; PROVIDED, that the affected party shall use its commercially reasonable efforts to avoid or remove such causes
of non-performance.

 

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12. NO CONFLICT

 

Each party represents and warrants that it
is authorized to enter into this Agreement and that the terms hereof are not inconsistent with or a violation of any contractual
or other legal obligation to which it is subject.

 

13. LABOR LAWS

 

CRO shall take care at its own charge of any
and all obligations towards its employees and collaborators arising from applicable labour and social security laws and regulations.
Working condition for CRO’s employees rendering the Services under this Agreement will not be less than those stated in applicable
national collective employment agreements. CRO will provide SPONSOR with evidence of compliance of above obligations and will permit
and shall cause that any CRO’s collaborators permit SPONSOR any inspection.

 

14. INDEPENDENT CONTRACTOR

 

The status of the parties under this Agreement
is that of independent contractors, and, except as specifically set forth herein, or in the Exhibit(s), neither party has any authority
to bind or act on behalf of the other party without its express written consent. All contracts, expenses and liabilities undertaken
or incurred by CRO in connection with or relating to this Agreement shall be undertaken, incurred or paid exclusively by CRO and
not as an agent or representative of SPONSOR.

 

15. NOTICES

Apart from the ordinary business communications
related to the conduct of the Study, which may be given also by informal means, any relevant notices, requests or other communications
given under this Agreement (i.e. related to a modification, termination, indemnification procedure) shall be in writing and shall
be given by personal delivery, or sent by (a) facsimile transmission (with message confirmed during normal business hours); (b)
first class mail, postage prepaid; or (c) Federal Express (or equivalent nationally recognized overnight delivery service), delivery
charges prepaid. All notices shall be given to a party at its respective address set forth below, or at such other address as such
party from time to time may specify by notice in accordance with this Section 15. A notice shall be deemed given when actually
received, PROVIDED, that if any facsimile notice is received after 5:00 P.M. local time at the place of receipt, it shall be deemed
to have been given as of the next following business day.

 

If to CRO:

Pierrel Research Italy Spa

Via Alberto Falck 15

20099 Sesto S. Giovanni (MI)

Attention: Mr. Luigi Visani

fax: 0224862994.; E-mail: l.visani@pierrel-research.com

 

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 If to SPONSOR:

Advanced Accelerator Application

Via Ribes, 5

10010 Colleretto Giacosa (TO)

Italy

Attention Mrs. Paola Santoro

Fax: +39 0125561212; E-mail paola.santoro@adacap.com

 

16. ENTIRE AGREEMENT

 

This Agreement, together with all corresponding
Exhibits, Amendments or Deviation, constitutes the entire agreement between SPONSOR and CRO with respect to the subject matter
hereof, and replaces and supersedes any and all prior and contemporaneous agreements and/or understandings, whether oral or written,
between SPONSOR and CRO with respect to the subject matter hereof. This Agreement (including the Exhibit(s)) may be amended or
modified only by a written instrument executed by a duly authorized officer of each party.

 

17. CONSTRUCTION OF AGREEMENT

 

The descriptive headings of the Sections of
this Agreement are for convenience only and shall not affect the meaning or construction of any of the provisions of this Agreement.
The failure of either party to enforce any provision of this Agreement (including Exhibit(s)) shall not be construed as a waiver
or limitation of that party's subsequent rights to enforce and compel strict compliance with every provision of this Agreement.
To the extent any provision of this Agreement or the application thereof is found by a proper authority to be invalid or unenforceable,
it shall be considered deleted herefrom, and the remainder of this Agreement shall continue in full force and effect.

 

18. APPLICABLE LAW AND JURISDICTION

 

This Agreement shall be governed by and construed
in accordance with the laws of Italy, without regard to provisions of conflicts of law. Any lawsuit arising from or related to
this Agreement shall be brought exclusively before the Court of Milano, and each party hereby consents to the jurisdiction of such
court.

 

19. ASSIGNMENT 

 

Neither
SPONSOR nor CRO may assign this Agreement or any rights hereunder or delegate the performance of any duties hereunder without the
prior written approval of the other party, which approval shall not be unreasonably delayed or withheld; it is therefore agreed
between the Parties that CRO shall subcontract the Services, in whole or in part, to the subsidiaries and/or affiliates of Pierrel
Research without prejudice to CRO liability vis-à-vis SPONSOR for the fulfilment of the obligations set forth by this Agreement.

 

Also, without CRO consent, SPONSOR may assign
this Agreement to its affiliated companies (directly or indirectly controlled). Subject to the foregoing, this Agreement shall
be binding

 

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upon, inure to the benefit of and be enforceable
by the parties and their respective successors and permitted assigns.

 

20. SURVIVAL

 

Sections 3 and all other provisions that expressly
or by their nature survive (including, without limitation, Section 2, 4, 5, 8, 9, and this Section 20), will survive the termination
or expiration of this Agreement.

 

21. SIGNATORIES

 

This Agreement may be executed in counterparts,
each of which, when executed and delivered, shall be deemed to be an original, and all of which, when joined, shall together constitute
one and the same agreement.

 

***

IN WITNESS WHEREOF, the parties have executed
this Agreement by their duly authorized officers as of the date first above written.

 

	Advanced Accelerator Applications	 	PIERREL RESEARCH ITALY S.p.A.
	Saint-Genis-Poully	 	Sesto S. Giovanni (MI)
	 	 	 
	/s/ Stefano Buono	 	/s/ Luigi Visani
	Stefano Buono	 	Luigi Visani
	Chief Executive Officer	 	Chief Executive Officer
	 	 	 
	09/02/2012  	 	16/02/2012  
	Date	 	Date

 

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EXIBIT A: PROTOCOL / PROTOCOL SYNOPSIS 

 

EXIBIT B: APPROVAL by FRENCH MINISTRY OF HIGHER EDUCATION and
RESEARCH

 

EXIBIT C: ASSUMPTIONS and COST PROPOSAL BY CRO

 

EXHIBIT D: PAYMENT SCHEDULE FOR CRO SERVICES AND OPERATIONAL
COSTS

 

    	16

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00239-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00239-of-00352.parquet"}]]