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Exhibit
10.2 

CONFIDENTIAL

 

					
		 	*	 	Confidential Treatment has been
		 		 	requested for the marked portions of
		 		 	this exhibit pursuant to Rule 24B-2
		 		 	of the Securities Exchange Act of
		 		 	1934, as amended.

WYETH
LLC 

ACTING
THROUGH ITS 

WYETH
 PHARMACEUTICALS DIVISION 

500
ARCOLA ROAD 

COLLEGEVILLE,
PENNSYLVANIA 19426 USA 

April 12,
2010 

Trubion
Pharmaceuticals, Inc. 

2401
4th Avenue, Suite 1050 

Seattle,
Washington 98121 

Re:
Amendment No. 2 to the Collaboration and License Agreement dated as of
December 19, 2005 (as previously amended, the "Agreement") by and between
Trubion Pharmaceuticals, Inc. ("Trubion") and Wyeth LLC (formerly known as
Wyeth), acting through its Wyeth Pharmaceuticals Division ("Wyeth") 

Ladies
and Gentlemen: 

This
letter agreement (the "Letter Agreement") constitutes Amendment No. 2 to
the Agreement referred to above. Capitalized terms used but not defined herein
shall have the meanings set forth in the Agreement. Trubion and Wyeth desire to
discontinue their collaborative efforts toward the research and Development of
[*] and, as a result thereof, wish to amend the Agreement as set forth herein.
In addition, Trubion and Wyeth desire to discontinue their collaborative efforts
towards the research and Development of the following Wyeth Targets: [*] (the
"Discontinued Targets"), of SMIPs directed against such Discontinued Targets
(the "Discontinued SMIPs") and of Other Products containing SMIPS directed
against such Discontinued Targets (the "Discontinued Other Products"). This
Letter Agreement sets forth the agreement of Trubion and Wyeth with respect to
such amendment. 

*Confidential
Treatment Requested. 

Each
of Trubion and Wyeth agrees that, upon execution of this Letter Agreement,
(a) all rights and licenses granted to Wyeth by Trubion under the Agreement
with respect to [*] shall immediately terminate, and Wyeth shall have no further
obligations to Trubion under the Agreement with respect to [*], (b) all rights
and licenses granted to Wyeth by Trubion under the Agreement with respect to the
Discontinued Targets, the Discontinued SMIPs or the Discontinued Other Products
shall immediately terminate, and Wyeth shall have no further obligations to
Trubion under the Agreement with respect to the Discontinued Targets, the
Discontinued SMIPs or the Discontinued Other Products, (c) Trubion shall
have no further obligations to Wyeth under the Agreement with respect to [*],
the Discontinued Targets, the Discontinued SMIPs or the Discontinued Other
Products, and (d) the Discontinued Targets shall be deemed Released Targets for
purposes of Section 3.2.2 of the Agreement. Notwithstanding the foregoing
or any provision in the Agreement to the contrary but subject to the following
sentence, each of Trubion and Wyeth agrees that the Research Program shall
continue in full force and effect in accordance with the terms of the Agreement
with respect to Licensed Targets other than [*] and the Discontinued Targets and
 with respect to Products other than [*] and the Discontinued Other Products.
Wyeth and Trubion agree that the Research Term hereby is extended until
December 31, 2010. The following Targets remain Wyeth Targets under the
Agreement: [*] (the "Remaining Wyeth Targets"). 

In
connection with the foregoing, each of Trubion and Wyeth agree to make the
following amendments to the Agreement: 

 

	1.	
      Amendments
      to Article 1. Article 1 of the Agreement hereby is amended by
  

 

	 	a.	
      deleting
      Sections 1.46 through 1.49 of Article 1 in their entirety;
  

 

	 	b.	
      in
      Section 1.93, deleting the phrase [*] each time it appears within the
      definition of "Product"; 

 

	 	c.	
      replacing
      Section 1.130 in its entirety with "'Trubion Target' shall
      mean the human CD20 Antigen"; and 

 

	 	d.	
      replacing
      Section 1.140 in its entirety with "'Wyeth Targets' shall mean
      the Targets designated by Wyeth under the Research Program, as described
      in Section 3.2 hereof. Notwithstanding anything herein to the
      contrary, as of April 12, 2010 the Wyeth Targets are [*] (all of
      which have been previously designated as Wyeth Targets pursuant to
      Section 3.2 hereof); any other Targets previously designated by Wyeth
      as Wyeth Targets pursuant to Section 3.2 are no longer Wyeth Targets
      for purposes of the Agreement." 

 

	2.	
      Amendments
      to Article 2. Article 2 of the Agreement is hereby amended by
  

 

	 	a.	
      deleting
      Section 2.3.2 in its entirety; and 

 

	 	b.	
      in
      Section 2.3.3 replacing the phrase "Sections 2.3.1 and 2.3.2" with
      "Section 2.3.1". 

 

	3.	
      Amendments
      to Article 3. Article 3 of the Agreement is hereby amended by
  

 

	 	a.	
      in
      Section 3.1 deleting the phrase [*] from clause (a) thereof.
    

 

	4.	
      Amendments
      to Article 4. Article 4 of the Agreement is hereby amended by
  

 

	 	a.	
      in
      Section 4.5(a), deleting the phrase [*]; and 

 

	 	b.	
      deleting
      Section 4.5(c) in its entirety. 

*Confidential
Treatment Requested. 

	5.	
      Amendments
      to Article 5. Article 5 of the Agreement is hereby amended by
  

 

	 	a.	
      deleting
      the reference to Section 5.4.3 from Section 5.4.1.
  

 

	 	b.	
      deleting
      Section 5.4.3 in its entirety; 

 

	 	c.	
      deleting
      the second sentence of Section 5.4.6(a) in its entirety;
  

 

	 	d.	
      deleting
      the last sentence of Section 5.5.1 in its entirety; and
  

 

	 	e.	
      replacing
      clause (c) of Section 5.5.2 in its entirety with "(c) any
      adjustments (including the basis therefor) made pursuant to Sections
      5.4.2(b), 5.4.2(c), 5.4.4(b), 5.4.4(c) or 5.4.6(a) to the royalty amount
      payable fore the sale of each Licensed Product, the applicable Marginal
      Royalty Rates and the CD20 Effective Royalty Rate (as the case may be)
      payable on Net Sales, and". 

 

	6.	
      Amendments
      to Article 9. Article 9 of the Agreement is hereby amended by
  

 

	 	a.	
      in
      the second sentence of Section 9.7.2(a)(ii), deleting the phrase [*]
      from each of clauses (B) and (C); 

 

	 	b.	
      in
      Section 9.8.4(i), deleting the phrase "or 2.3.2";

 

	 	c.	
      in
      Section 9.10.2(c), replacing the phrase "the restrictive covenants
      set forth in Sections 2.3.1 and 2.3.2" with "the restrictive covenants set
      forth in Section 2.3.1", and deleting the phrase [*] each time it
      appears therein; and 

 

	 	d.	
      also
      in Section 9.10.2(c), deleting from the third sentence thereof the
      phrase "and/or all [*] (only where such Existing Activities relate to
      products directed against the [*] which would otherwise violate Wyeth's
      exclusivity covenants in Section 2.3.2 hereof)".

 

	7.	
      Amendments
      to Exhibit 5.3. Exhibit 5.3 of the Agreement is hereby amended by
    

 

	 	a.	
      Deleting
      Part B of Exhibit 5.3 in its entirety. 

 

	 	b.	
      In
      subclauses (i) and (iv) of Part D of Exhibit 5.3, replacing "Sections
      A-C" with "Sections A and C".
      

 

	 	c.	
      In
      subclause (iv) of Part D of Exhibit 5.3, replacing, in the second
      sentence thereof, [*] with "the human CD20 Antigen".

 

	 	d.	
      In
      subclause (v) of Part D of Exhibit 5.3, deleting, from the first
      sentence thereof, the reference to Section B, and replacing, in second
      sentence thereof, [*] with "CD20 Product" each time it appears therein.
      

This
Amendment No. 2 shall become effective as of the date of this letter set
forth above. As modified by this Amendment No. 2, the Parties confirm that
the Agreement is in full force and effect. 

*Confidential
Treatment Requested. 

Please
indicate your acknowledgement of and agreement with the foregoing by having each
counterpart of this Letter Agreement executed on behalf of Trubion and returning
one fully executed original counterpart to me. 

 

			
	Very truly yours,
	
	WYETH LLC, acting through its
	WYETH PHARMACEUTICALS DIVISION
		
	By:	 	
      /s/
      ROBERT J. SMITH

		 	Name: Robert J. Smith
		 	Title:   Senior Vice President
	
	ACKNOWLEDGED AND AGREED:
	
	TRUBION PHARMACEUTICALS, INC.
		
	By:	 	
      /S/
      MICHELLE G. BURRIS

		 	Name: Michelle G. Burris
		 	Title:   SVP, COO
	Date: 14 April
2010HTML

Exhibit
10.3 

CONFIDENTIAL

EXECUTION
VERSION 

WYETH
LLC 

ACTING
 THROUGH ITS 

WYETH
PHARMACEUTICALS DIVISION 

500
ARCOLA ROAD 

COLLEGEVILLE,
PENNSYLVANIA 19426 USA 

May 18,
2011 

Emergent
Product Development Seattle, LLC. 

2401
4th Avenue, Suite 1050

Seattle,
Washington 98121 

Re:
Amendment No. 3 to the Collaboration and License Agreement dated as of
December 19, 2005 (as previously amended, the "Agreement") by and between
Emergent Product Development Seattle, LLC (successor to Trubion Pharmaceuticals,
Inc. ("Trubion")) ("EPDS") and Wyeth LLC (formerly known as Wyeth), acting
through its Wyeth Pharmaceuticals Division ("Wyeth") 

Ladies
and Gentlemen: 

This
letter agreement (the "Letter Agreement") constitutes Amendment No. 3 to
the Agreement referred to above. Capitalized terms used but not defined herein
shall have the meanings set forth in the Agreement. EPDS and Wyeth desire to
amend the Agreement with respect to the restrictions on Development and
Commercialization of CD20 Antigens and CD20 Products. This Letter Agreement sets
forth the agreement of EPDS and Wyeth with respect to such amendment. 

Each
of EPDS and Wyeth agrees as follows: 

1.
Amendments to Article 1. Article 1 of the Agreement is hereby amended by
inserting the following new definitions in alphabetical order therein: 

'"Biosimilar
Combination Product' shall mean any product containing as active ingredients
both (a) a CD 20 Biosimilar Product and (b) one or more other
pharmaceutically active compounds or substances." 

			
	Trubion Pharmaceuticals, Inc.	  	CONFIDENTIAL
	May 18, 2011	  	
	Page 2 of 7	  	

 

'"Biosimilar
Product' shall mean a biological product other than a SMIP which, through
reference to a biological product that has already received approval from the
applicable regulatory authority (the "reference product"), is eligible for
approval pursuant to an abbreviated follow-on biological approval pathway
established by either the US FDA, the EMEA (currently Similar Biological
Medicinal Product as described in CHMP/437/04, issued 30 October 2005, as
amended from time to time) or the Pharmaceuticals and Medical Devices Agency
(PMDA) of Japan, as such regulations may be amended from time to time. A product
which qualifies as a Biosimilar Product under the regulatory pathway of any one
such jurisdiction shall constitute a Biosimilar Product for purposes of this
Agreement in all jurisdictions, even if the marketing approval for such product
in other jurisdictions requires a more restrictive regulatory pathway." 

'"CD20
Biosimilar Product' shall mean a Biosimilar Product with respect to which
Development or Commercialization is first commenced or conducted by Wyeth during
the CD20 Biosimilar Product Applicability Period, and such Biosimilar Product
contains a protein directed against or that Specifically Binds to the CD20
Antigen or any portion thereof. A CD20 Biosimilar Product shall not be
considered to be a CD20 Product for the purposes of this Agreement." 

'"CD20
Biosimilar Product Applicability Period' shall mean any time that occurs
both (a) during the term of this Agreement and (b) prior to the later
of (i) the date which is ninety (90) days after the date of expiration
or termination of Wyeth's obligations under Section 2.3.1 of this Agreement
and (ii) May 26, 2012." 

'"CD20
Biosimilar Royalty Period' shall mean the period of time beginning on the
date of the first commercial sale by Wyeth or any sublicensee of the first CD20
Biosimilar Product anywhere in the Territory and ending on the seventh (7th) anniversary of the first
commercial sale by Wyeth or any sublicensee of the first CD20 Biosimilar Product
in any Major Market Country; provided, however, that if the first
commercial sale by Wyeth or any sublicense of the first CD20 Biosimilar Product
in a Major Market Country occurs in a Major Market Country that is not the
United States, then (a) the "CD20 Biosimilar Royalty Period" for all
countries in the Territory other than the United States shall end on the seventh
(7th) anniversary of the
first commercial sale by Wyeth or any sublicensee of the first CD20 Biosimilar
Product in such Major Market Country and (b) the "CD20 Biosimilar Royalty
Period" for the United States shall end on the seventh (7th)
anniversary of the first commercial sale by Wyeth or any sublicensee of the
 first CD20 Biosimilar Product in the United States. For the avoidance of doubt,
if the first commercial sale by Wyeth or any sublicense of the first CD20
Biosimilar Product in a Major Market Country occurs in the United States, then
the "CD20 Biosimilar Royalty Period" for all countries in the Territory shall
end on the on the seventh (7th) anniversary of the first
commercial sale by Wyeth or any sublicensee of the first CD20 Biosimilar Product
in the United States." 

			
	Trubion Pharmaceuticals, Inc.	  	CONFIDENTIAL
	May 18, 2011	  	
	Page 3 of 7	  	

 

'"CD20
Biosimilar Product Net Sales' shall mean the gross amounts charged for sales
of CD20 Biosimilar Products by Wyeth or its sublicensees to Third Parties, less
the sum of (a) and (b) where (a) is a provision, determined under
Generally Accepted Accounting Principles in the United States and in accordance
with Wyeth's customary and usual accrual procedures, consistently applied, for
the accrual of (i) trade, cash, quantity and wholesaler discounts or
rebates (other than price discounts granted at the time of sale), if any,
 allowed or paid, (ii) credits or allowances given or made for rejection or
return of, previously sold CD20 Biosimilar Products or for retroactive price
reductions (including Medicaid, managed care and similar types of rebates),
(iii) taxes, duties or other governmental charges levied on or measured by the
billing amount (excluding income and franchise taxes), as adjusted for rebates
and refunds, and (iv) charges for packing, freight, and shipping to the
extent included in the invoice price and (b) is a periodic adjustment
(positive or negative, as applicable), determined under Generally Accepted
Accounting Principles in the United States and in accordance with Wyeth's
customary and usual adjustment procedures, consistently applied, of the
provision determined in (a) to reflect amounts actually incurred for (i),
(ii), (iii) and (iv) based on amounts actually invoiced or as separately
set forth in agreements with Third Parties or as deducted or paid as required by
applicable law or regulations. (The deductions described in (i), (ii), (iii) and
(iv) are also referred to herein as "Permitted Deductions.") In the case of
any sale of CD20 Biosimilar Products for consideration other than cash, CD20
Biosimilar Product Net Sales shall be calculated on the fair market value of the
consideration received. 

Notwithstanding
the foregoing, if a CD20 Biosimilar Product is sold as a Biosimilar Combination
Product (also a "Combination Sale"), the Net Sales for such Biosimilar
Combination Product shall be the portion of such Combination Sale allocable to
the CD20 Biosimilar Product determined as follows: 

Except
as provided below, the CD20 Biosimilar Product Net Sales amount for a
Combination Sale shall equal the gross amount invoiced for the Combination Sale,
reduced by the Permitted Deductions (also the "Net Combination Sale Amount"),
multiplied by the fraction A/(A+B), where: 

A
is the invoice price, in the country where such Combination Sale occurs, of the
CD20 Biosimilar Product contained in the Biosimilar Combination Product, if sold
as a separate product in such country by Wyeth or its sublicensees, as the case
may be, and B is the aggregate of the invoice price or prices, in such country,
of products which collectively contain as their respective sole active
ingredient such other pharmaceutically active compounds or substances, as the
case may be, included in the Biosimilar Combination Product, if sold separately
in such country by Wyeth or its sublicensees, as applicable. 

			
	Trubion Pharmaceuticals, Inc.	  	CONFIDENTIAL
	May 18, 2011	  	
	Page 4 of 7	  	

 

In
the event that Wyeth or its sublicensees sell the CD20 Biosimilar Product
included in a Biosimilar Combination Product as a separate product in a country,
but do not separately sell all of the other pharmaceutically active compounds or
substances, as the case may be, included in such Biosimilar Combination Product
in such country, the calculation of the CD20 Biosimilar Product Net Sales amount
for such Combination Sale shall be determined by multiplying the Net Combination
Sale Amount by the fraction A/C where: 

A
is the average wholesale price, in such country, charged by Wyeth or its
sublicensees, as the case may be, for the CD20 Biosimilar Product contained in
such Biosimilar Combination Product, when sold as a separate product by Wyeth or
its sublicensees, as applicable, and C is the average wholesale price, in such
country, charged by Wyeth or its sublicensees, as applicable, for the entire
 Biosimilar Combination Product. 

In
the event that Wyeth or its sublicensees do not sell the CD20 Biosimilar Product
included in a Biosimilar Combination Product as a separate product in a country
where such Combination Sale occurs, but do separately sell products which
collectively contain as their respective sole active ingredient all of the other
pharmaceutically active compounds or substances, as the case may be, included in
the Biosimilar Combination Product in such country, the calculation of CD20
Biosimilar Product Net Sales resulting from such Combination Sale shall be
determined by multiplying the Net Combination Sale Amount by the fraction (C-D)/C, where: 

C
is the average wholesale price, in such country, charged by Wyeth or its
sublicensees, as the case may be, for the entire Biosimilar Combination Product,
and D is the average wholesale price charged by Wyeth or its sublicensees, as
the case may be, for the products which collectively contain as their sole
active ingredient such other pharmaceutically active compounds or substances, as
the case may be, included in the Biosimilar Combination Product. 

Where
active ingredient portions of a Biosimilar Combination Product are sold
separately as other products but in different dosage strengths than are in the
Biosimilar Combination Product, the calculation of the Net Sales amount for such
Biosimilar Combination Product shall be based on appropriate proration of the
amounts of each active ingredient component included therein when applying the
formulas set forth above. 

Where
the calculation of CD20 Biosimilar Product Net Sales resulting from a
Combination Sale in a country cannot be determined by any of the foregoing
methods, the calculation of CD20 Biosimilar Product Net Sales for such
Combination Sale shall be that portion of the Net Combination Sale Amount
reasonably determined in good faith by the Parties as properly reflecting the
value of the CD20 Biosimilar Product included in the Biosimilar Combination
Product. 

			
	Trubion Pharmaceuticals, Inc.	  	CONFIDENTIAL
	May 18, 2011	  	
	Page 5 of 7	  	

 

Notwithstanding
the foregoing, CD20 Biosimilar Product Net Sales shall not include any
 reimbursement received by Wyeth or its sublicensees in respect of the use of a
CD20 Biosimilar Product in a country solely as part of a clinical trial prior to
the receipt of marketing authorization required to commence commercial sales of
such CD20 Biosimilar Product in such country." 

2.
Amendment to Section 2.3.1. Section 2.3.1 of the
Agreement is hereby amended by adding the following new paragraph at the end
thereof: 

"The
foregoing provisions of this Section 2.3.1 shall not, and shall not be
deemed to, prohibit Wyeth from Developing or Commercializing any CD20 Biosimilar
Product. For clarity, no rights or licenses are granted to Wyeth under the
Trubion Technology with respect to any CD20 Biosimilar Products." 

3.
Amendment to Section 5.4. In partial consideration for
EPDS agreeing to amend Section 2.3.1 of the Amendment as set forth above,
Section 5.4 of the Agreement is hereby amended by adding the following new
Section at the end thereof: 

"5.4.7.
CD20 Biosimilar Product Payments. Wyeth shall pay to Trubion an amount
equal to two and one-half percent
(2.5%) multiplied by the aggregate CD20 Biosimilar Product Net Sales
collectively obtained by Wyeth and its sublicensees from the sale of CD20
Biosimilar Products during each calendar year. Such payments shall be made
during the CD20 Biosimilar Royalty Period. Sections 5.5 (excluding clause
(c) of Section 5.5.2) and 5.6 shall apply to the payments to be made
pursuant to this Section 5.4.7 on CD20 Biosimilar Products. 

4.
Amendment to Section 9.7.10. In further consideration
for Trubion agreeing to amend Section 2.3.1 of the Agreement as set forth
above, Section 9.7.10 of the Agreement is hereby amended and replaced by
the following text: 

"9.7.10.
Continuation of Certain Rights and Licenses. 

 

	 	(a)	
      Notwithstanding
      anything in this Section 9.7 to the contrary, the Parties' rights and
      licenses set forth in Sections 6.1.1 and 6.1.2 shall survive any
      expiration or termination of this Agreement. 

 

	 	(b)	
      Notwithstanding
      anything in this Section 9.7 to the contrary, Trubion's right to
      receive CD20 Biosimilar Product Payments in accordance with
      Section 5.4.7 shall survive any expiration or termination of this
      Agreement and continue until the end of the CD20 Biosimilar Royalty
      Period." 

			
	Trubion Pharmaceuticals, Inc.	  	CONFIDENTIAL
	May 18, 2011	  	
	Page 6 of 7	  	

 

5.
Amendment Payment. Wyeth shall pay to EPDS Two Million Five Hundred
Thousand Dollars ($2,500,000.00) within thirty (30) days after the
effective date set forth below, which payment shall be non-refundable
and non-creditable. 

6.
Assignment. Wyeth hereby assigns the Agreement, as amended hereby, and
all of its rights, obligations and interests thereunder, to Pfizer Inc. Pfizer
 Inc. hereby accepts such assignment and assumes the rights, obligations and
interests of Wyeth under the Agreement. 

7.
Continuity of Royalty Obligation. In the event that Wyeth or Pfizer Inc.
sells, transfers, licenses or otherwise assigns its rights and interests in any
CD20 Biosimilar Product for which royalties are or will become due and payable
as provided for in the amendments to the Agreement set forth in Paragraph 3
above, Pfizer Inc. shall remain responsible for the obligation to pay such
royalties with respect to such CD20 Biosimilar Product unless the successor to
such rights and interests confirms in writing to EPDS that such successor
assumes the obligations to pay such royalties to EPDS. 

8.
Notice. 

 

	 	(a)	
      On
      or prior to January 15, 2012 and thereafter on or prior to each
      January 15 and July 15 that occurs during the CD20 Biosimilar
      Product Applicability Period, Wyeth or Pfizer Inc. shall provide EPDS with
      a written report with respect to whether the Development or
      Commercialization of any CD20 Biosimilar Product was first commenced or
       conducted by Wyeth since the date of the last such report.
  

 

	 	(b)	
      Wyeth
      or Pfizer Inc. shall provide EPDS with notice of the consummation of any
      transaction contemplated pursuant to Section 7 of this Letter
      Agreement within thirty (30) days after consummation thereof and such
      notice shall indicate whether the obligations set forth in Section 7
      remain with Pfizer Inc or were transferred to the successor.
  

This
Letter Agreement shall be deemed entered into and effective as of May 26,
2011. As modified by this Amendment No. 3, the Parties confirm that the
Agreement is in full force and effect. 

			
	Trubion Pharmaceuticals, Inc.	  	CONFIDENTIAL
	May 18, 2011	  	
	Page 7 of 7	  	

 

Please
indicate your acknowledgement of and agreement with the foregoing by having each
counterpart of this Letter Agreement executed on behalf of EPDS and returning
one fully executed original counterpart to me. 

 

			
	Very truly yours,
	
	WYETH LLC, acting through its
	WYETH PHARMACEUTICALS DIVISION
		
	By:	 	
      /s/
      Mikael Dolsten

	Name:	 	Mikael Dolsten
	Title:	 	President Worldwide Research and Development
	
	PFIZER INC.
		
	By:	 	
      /s/
      Mikael Dolsten

	Name:	 	Mikael Dolsten
	Title:	 	President Worldwide Research and Development
	
	ACKNOWLEDGED AND AGREED:
	
	EMERGENT PRODUCT DEVELOPMENT SEATTLE,
  LLC
		
	By:	 	
      /s/
      Kyle W. Keese

	Name:	 	
      Kyle
      W. Keese

	Title:	 	
           

	Date:	 	
      18
      May 11

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