Document:

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                                                                   Exhibit 10.15
                                                                  EXECUTION COPY

              RESEARCH, DEVELOPMENT AND COMMERCIALIZATION AGREEMENT

                                     BETWEEN

                      PREDIX PHARMACEUTICALS HOLDINGS, INC.

                                       AND

              CYSTIC FIBROSIS FOUNDATION THERAPEUTICS INCORPORATED

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

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              Research, Development and Commercialization Agreement

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                     Page
<S>                                                                                                  <C>
ARTICLE I - DEFINITIONS...........................................................................     2

ARTICLE II - RESEARCH PROGRAM.....................................................................     8
   2.1      Commencement; Objective...............................................................     8
   2.2      Term..................................................................................     9
   2.3      Research Diligence....................................................................     9
   2.4      Research Plan.........................................................................     9
   2.5      Joint Research Committee..............................................................    10
   2.6      Exchange of Information...............................................................    11

ARTICLE III - PAYMENTS............................................................................    12
   3.1      Staffing and Research Support Payments................................................    12
   3.2      Payments..............................................................................    15
   3.3      Records...............................................................................    16

ARTICLE IV - COMMERCIALIZATION; ROYALTIES.........................................................    17
   4.1      Discovery and Commercialization of a CFTR Corrector-Based Product;
   Commercialization of P2(Y)2 Product............................................................    17
   4.2      Due Diligence.........................................................................    18
   4.3      Royalties.............................................................................    18
   4.4      Sales Reports.........................................................................    18

ARTICLE V - CONFIDENTIALITY.......................................................................    20
   5.1      Undertaking...........................................................................    21
   5.2      Exceptions............................................................................    22
   5.3      Publicity.............................................................................    23

ARTICLE VI - PUBLICATION..........................................................................    24

ARTICLE VII - INDEMNIFICATION.....................................................................    26
   7.1      Indemnification by Predix.............................................................    26
   7.2      Claims Procedures.....................................................................    26

ARTICLE VIII - PATENTABLE INVENTIONS..............................................................    28
   8.1      Ownership.............................................................................    28
   8.2      Preparation...........................................................................    28
   8.3      Costs.................................................................................    29

ARTICLE IX - TERM AND TERMINATION.................................................................    29
   9.1      Term..................................................................................    29
   9.2      Termination of the Research Programs Without Cause....................................    29
   9.3      Termination of the Research Program by CFFT for Cause.................................    29
   9.4      Termination of the Research Program by Predix for Cause...............................    30
   9.5      General Effect of Termination.........................................................    31
</TABLE>

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

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<TABLE>
<S>                                                                                                   <C>
   9.6      Consequences of an Interruption.......................................................    31

ARTICLE X - REPRESENTATIONS AND WARRANTIES........................................................    32
   10.1     Representations and Warranties of Predix..............................................    32
   10.2     Representations and Warranties of CFFT................................................    32

ARTICLE XI - MISCELLANEOUS PROVISIONS.............................................................    33
   11.1     Governing Law, and Jurisdiction.......................................................    33
   11.2     Waiver................................................................................    33
   11.3     Force Majeure.........................................................................    33
   11.4     Severability..........................................................................    34
   11.5     Government Acts.......................................................................    34
   11.6     Assignment............................................................................    34
   11.7     Counterparts..........................................................................    35
   11.8     No Agency.............................................................................    36
   11.9     Notice................................................................................    36
   11.10    Headings..............................................................................    37
   11.11    Authority.............................................................................    37
   11.12    Entire Agreement......................................................................    38
   11.13    Notice of Pharmaceutical Side-Effects.................................................    38
</TABLE>

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                     - ii -
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              RESEARCH, DEVELOPMENT AND COMMECIALIZATION AGREEMENT

      This Agreement (this "Agreement") is made on this 7th day of March, 2005
(the "Effective Date"), between Predix Pharmaceuticals Holdings, Inc.
("Predix"), a Delaware corporation with principal offices at 10K Gill Street,
Woburn, MA 01801, and Cystic Fibrosis Foundation Therapeutics Incorporated, a
Delaware corporation with its principal offices at 6931 Arlington Road,
Bethesda, Maryland 20814 ("CFFT"). Collectively, Predix and CFFT shall be
referred to hereinafter as the "Parties".

      WHEREAS, Predix has expertise in 3D technology and the discovery and
development of small molecule compounds addressing a variety of diseases; and

      WHEREAS, CFFT is significantly focused on the discovery and development of
methods of treatment of cystic fibrosis, to which CFFT and its Affiliates bring
significant scientific and human resources and financial support; and

      WHEREAS, CFFT wishes to support the Research Programs specified
hereinafter to be undertaken by Predix;

      NOW, THEREFORE, in consideration of the mutual covenants set forth in this
Agreement, and other good and valuable consideration, the Parties agree as
follows:

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

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                            ARTICLE I - DEFINITIONS

      For purposes of this Agreement, the terms defined in this Article 1 shall
have the following meanings whether used in their singular or plural forms. Use
of the singular shall include the plural and vice versa, unless the context
requires otherwise:

      1.1 "Affiliate" shall mean, with respect to any Person, any other Person
who directly or indirectly, by itself or through one or more intermediaries,
controls, or is controlled by, or is under direct or indirect common control
with, such Person. The term "control" means the possession, direct or indirect,
of the power to direct or cause the direction of the management and policies of
a Person, whether through the ownership of voting securities, by contract or
otherwise. Control will be presumed if one Person owns, either of record or
beneficially, more than fifty percent (50%) of the voting stock of any other
Person. For the avoidance of any doubt, the Cystic Fibrosis Foundation and CFFT
are considered to be Affiliates.

      1.2 "Agreement" means this agreement, together with all appendices,
exhibits and schedules hereto, and as the same may be amended or supplemented
from time to time hereafter by a written agreement duly executed by authorized
representatives of each party hereto.

      1.3 "Budget" shall mean the total amount to be paid by CFFT to Predix for
each of Research Program I and Research Program II as specified in Article III.

      1.4 "CF" means the disease known as Cystic Fibrosis.

      1.5 "CF Field" means the treatment of humans diagnosed with CF.

      1.6 "CFTR" shall mean a CF transmembrane conductance regulator protein
which has the biological effect of transporting molecules across human cellular
membranes.

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

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      1.7 "[*******************] Efforts" shall have the definition set forth in
Section 4.2.

      1.8 "Controlled" (except in the context of Section 1.1) shall mean the
legal authority or right of a party hereto to grant a license or sublicense of
intellectual property rights to another party hereto, or to otherwise disclose
proprietary or trade secret information to such other party, without breaching
the terms of any agreement with a Third Party, infringing upon the intellectual
property rights of a Third Party, or misappropriating the proprietary or trade
secret information of a Third Party.

      1.9 "Corrector" shall mean a compound which, as its principal mode of
therapeutic action, modulates the biological effect of CFTR by increasing the
amount of functional AF508 CFTR present at the apical cell membrane.

      1.10 "Effective Date" shall mean the date specified in the first paragraph
of this Agreement.

      1.11 "Field" shall mean the treatment of conditions or diseases in the CF
Field and the Pulmonary Field.

      1.12 "First Commercial Sale" shall mean the first sale of a P2(Y)2 Product
by Predix or an Affiliate, licensee or sublicensee of Predix in a country in the
Territory following Regulatory Approval of the P2(Y)2 Product in that country
or, if no such Regulatory Approval or similar marketing approval is required,
the date upon which the P2(Y)2 Product is first commercially launched in that
country.

      1.13 "FTE" shall mean the equivalent of the work of one Predix scientist
or other project managerial professional, full time for one year, on or directly
related to the Research

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

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Program. Activities included in calculating FTE's shall [***********************
*******************************************************************************
**********************************].

      1.14 "Hit" shall have the meaning ascribed to it in Section 3.1.2 of this
Agreement.

      1.15 "Interruption" shall occur (i) if at any time before the First
Commercial Sale of a P2(Y)2 Product, Predix, its Affiliates and sublicensees,
all cease to conduct, or have conducted, research activities associated with the
development of such Product for a period of [*******************************];
and (ii) as specified in Section 4.1.1.

      1.16 "Joint Research Committee" or "JRC" shall have the meaning ascribed
to it in Section 2.5 of Agreement.

      1.17 "Net Sales" with respect to any product shall mean the gross amount
invoiced by the selling party and its Affiliates, licensees or sublicensees for
products sold in bona fide, arms-length transactions to Third Parties for use in
the Field, less (i) quantity and/or cash discounts from the gross invoice price
which are actually allowed or taken; (ii) freight, postage and insurance
included in the invoice price; (iii) amounts repaid or credited by reasons of
rejections or return of goods or because of retroactive price reductions
specifically identifiable to such product; (iv) amounts payable resulting from
government (or agency thereof) mandated rebate programs; (v) third-party rebates
or charge-backs to the extent actually allowed; (vi) invoiced customs duties and
sales taxes (excluding income, value-added and similar taxes), if any, actually
paid and directly related to the sale that are not reimbursed by the buyer; and
(vii) any other specifically identifiable amounts included in the product's
gross invoice price that should be credited for reasons substantially equivalent
to those listed above; all as determined in

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SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

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accordance with the selling party's usual and customary accounting methods,
which are in accordance with generally accepted accounting principles.

            In the case of any sale or other disposal of a product between or
among the selling party and its Affiliates, licensees and sublicensees, for
resale, Net Sales shall be calculated as above [********************************
**********************************************];

            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;

            In the case of any sale or other disposal for value, such as barter
or counter-trade, of any 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 consideration received;

            In the event the product is sold in a finished dosage form
containing the product in combination with one or more other active ingredients
(a "Combination Product"), the Net Sales of the product, for the purposes of
determining royalty payments, shall be determined [*****************************
********************************************************************************
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********************************************************************************
********************************************************************************
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********************************************************************************

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                      - 5 -
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********************************************************************************
*****************************************************************************].

      1.18 "Patents" means all existing patents and patent applications and all
patent applications hereafter filed, including any continuation,
continuation-in-part, division, provisional or any substitute applications, any
patent issued with respect to any such patent applications, any reissue,
reexamination, renewal or extension (including any supplementary protection
certificate) of any such patent, and any confirmation patent or registration
patent or patent of addition based on any such patent, and all foreign
counterparts of any of the foregoing.

      1.19 "Person" means any individual, corporation, partnership, association,
joint-stock company, trust, unincorporated organization or government or
political subdivision thereof.

      1.20 "Predix CF Technology" shall mean all data, technical information,
know-how, inventions (whether or not patented) trade secrets, processes and
methods discovered or developed, and Controlled by Predix or its Affiliates, in
the performance of the Research Program under this Agreement, including without
limitation, the [***************************************************]; provided,
however, that notwithstanding the foregoing, the term "Predix CF Technology"
shall not include any data, technical information, know-how, inventions (whether
or not patented) trade secrets, processes or methods owned or Controlled by
Predix prior to, or outside of, Predix's performance of the Research Program
under this Agreement, including without limitation, Predix's general receptor
and ion channel modeling technology, or computational drug discovery, drug
optimization and drug design technology, or any enhancements or improvements to
any of the foregoing.

      1.21 "Predix Patents" shall mean any Patents Controlled by Predix or its
Affiliates claiming Predix CF Technology.

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SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

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      1.22 "Prime Rate" shall mean [******************************************
***************************].

      1.23 "Pulmonary Field" shall mean the treatment of diseases of the human
pulmonary tract or lungs, other than CF.

      1.24 "P2Y(2) Product" shall have the meaning set forth in Section 2.1.

      1.25 "Regulatory Approval" shall mean, with respect to any country, all
authorizations by the appropriate governmental entity or entities necessary for
commercial sale of a pharmaceutical product in that country including, without
limitation and where applicable, approval of labeling, price, reimbursement and
manufacturing. "Regulatory Approval" in the United States shall mean final
approval of a new drug application pursuant to 21 CFR Section 314, permitting
marketing of the P2(Y)2 Product in interstate commerce in the United States.
"Regulatory Approval" in the European Union shall mean final approval of a
Marketing Authorization Application, or equivalent.

      1.26 "Research Plan" shall have the meaning set forth in Section 2.4
hereof.

      1.27 "Research Program I" shall have the meaning set forth in Section 2.1.

      1.28 "Research Program II" shall have the meaning set forth in Section
2.1.

      1.29 "Research Programs" shall mean collectively all research activities
undertaken under this Agreement relating to Research Program I and Research
Program II.

      1.30 "Research Termination Date" shall mean the date which is
[***************] following the Effective Date for Research Program I and the
date which is [**********

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OMISSIONS.

                                      - 7 -
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*******] following the Effective Date for Research Program II, in both cases
subject to extension as provided in Section 2.2.

      1.31 "Territory" shall mean worldwide.

      1.32 "Third Party" shall mean any person or entity which is not a party or
an Affiliate of any party to this Agreement.

                         ARTICLE II - RESEARCH PROGRAM

      2.1 COMMENCEMENT; OBJECTIVE.

      Predix will be responsible for the conduct of the Research Programs as set
forth herein. CFFT will provide the financial support hereinafter specified, and
consultation and advice as provided herein through its participation on the JRC
as provided below. The Research Program will consist of two sets of separate
activities, as set forth in the Research Plan, and generally described as
follows: (i) Predix will use its 3D technology and modeling expertise to model
the 3D structure of the CFTR (such activities are the "Research Program I") and
(ii) Predix will use its 3D GPCR technology to discover a small-molecule P2Y(2)
agonist that once optimized will be a novel compound for the treatment of CF
(such activities are "Research Program II" and any product containing a
small-molecule P2Y(2) agonist discovered during the performance of Research
Program II, whether or not the molecule has been further optimized, is a "P2Y(2)
Product").

      Following the successful completion of Research Program I (or prior to its
completion if the Parties so desire), the Parties agree to negotiate in good
faith towards an agreement pursuant to which a molecule that will act as a CFTR
Corrector will be discovered, optimized, developed

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OMISSIONS.

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and commercialized, all as more fully set forth in Section 4.1. Subject to
CFFT's rights in the event of an Interruption pursuant to Section 9.6 of this
Agreement, Predix shall have exclusive rights to further develop and
commercialize all P2Y(2) Products.

      2.2 TERM.

      The Research Programs shall commence on the Effective Date and will
conclude on the Research Termination Date, unless extended by agreement of the
Parties, or unless earlier terminated in accordance with the provisions of
Article IX hereof. The Parties may discuss at any time whether, and upon what
basis, the Research Program might be extended beyond the initial Research
Termination Date.

      2.3 RESEARCH DILIGENCE.

      Predix will [***********************************************************
*******], to accomplish the goals of the Research Programs. Predix will dedicate
to the Research Programs at least that level of staffing referenced in Section
3.1 hereof, and expects to employ an appropriate combination of experience and
training in the CF Field.

      2.4 RESEARCH PLAN.

            Predix and CFFT have agreed upon an overall research plan for the
Research Programs, a copy of which is attached to this Agreement as Exhibit 2.4.
The JRC will review and evaluate the Research Plan, taking into consideration
ongoing research outcomes and other scientific and commercial developments, at
each meeting of the JRC after the Effective Date, and any resulting
modifications will be incorporated into the Research Plan (the original plan,
and any such modifications are referred to herein as the "Research Plan").
Modifications to the Research Plan may be proposed by either Predix or CFFT and
must be approved by [*******]

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

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before being adopted. Any modification to the Research Plan proposed by [******]
that would [********************************************************************
*****************************************************************************],
shall not be adopted without the approval of [*****], which will act
expeditiously on any such proposal.

      2.5 JOINT RESEARCH COMMITTEE.

            2.5.1 Composition and Purposes. Predix and CFFT shall establish a
Joint Research Committee ("JRC") consisting of at least six (6) representatives
(as may be increased or decreased by the JRC), half of whom shall be designated
from time to time by each party. Each party shall choose a Program Coordinator
who may be changed from time to time by designation of each party. The Program
Coordinator for Predix shall be [*********]. The Program Coordinator for CFFT
shall be [******************]. If the JRC chooses to designate a Committee
Chair, the Chair will be [******************]. The JRC shall meet formally no
less frequently than once in each three (3) month period during the Research
Program, and at such time and location, as may be established by the Committee.
However, the JRC will make its schedule flexible in order to foster the
successful completion of the Research Programs. The JRC shall meet for the
following purposes:

                  (i) to review and discuss the Research Plan and evaluate any
            proposed revisions to any of those plans;

                  (ii) to determine whether milestones have been achieved; and

                  (iii) to provide guidance to the research team if such
            guidance is needed on next steps to implement the Research Programs.

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

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            At least [**********] working days prior to each JRC meeting, Predix
will send a written report to CFFT detailing the progress made in the respective
Research Programs during the preceding quarter. Within [**************] days
after the date of each meeting, Predix shall prepare and deliver minutes of the
meeting to the members of the JRC, setting forth, inter alia, all decisions of
the JRC, and including as an attachment the report on the progress of work
performed required by this Section 2.5.1.

            2.5.2 MILESTONE DECISION-MAKING. The JRC shall determine whether or
not milestone events have been achieved. Each of Predix and CFFT shall have one
vote on such matter, to be exercised by their respective Program Coordinators.
In the event a deadlock occurs or whether or not a milestone event has been
successfully completed, the Parties shall mutually select a Third Party who
shall make such determination. The determination of such party shall be binding
on the Parties.

            Each party shall retain the rights, powers, and discretion granted
to it under this Agreement, and the JRC shall not be delegated or vested with
any such rights, powers or discretion except as expressly provided in this
Agreement. The JRC shall not have the power to amend or modify this Agreement,
which may only be amended or modified as provided in Section 11.12.

      2.6 EXCHANGE OF INFORMATION.

            Predix will share information with the JRC when available and
necessary to facilitate mutual understanding of the status of the Research
Program and decision-making in connection therewith.

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CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

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                             ARTICLE III - PAYMENTS

      3.1 STAFFING AND RESEARCH SUPPORT PAYMENTS.

            CFFT will make the payments to Predix specified below during the
Term in support of the Research Programs under this Agreement.

            3.1.1 RESEARCH PROGRAM I

<TABLE>
<CAPTION>
                                                         FTE Research
                                                        Funding (# FTEs
                                       Estimated           charged                              Total
                    Item in              Time             at [*******       Out-sourced        Budgeted
                   Exhibit 2.4         (Months)*          **********]        activities         Amount
                   -----------        -----------       ---------------     -----------      -------------
<S>                <C>                <C>               <C>                 <C>              <C>
a) [******************]: to be paid on the date of execution                                 $   2,000,000

b) Base Research Funding:

[**********        [*******]          [*******]          [*********]         [********       [*********]
***********                                                                  *********
****                                                                         ********
***********                                                                  ********
*********                                                                    ********]
***********
*********
*******
*********]

[*********]        [*********]        [*********]        [*********]         [*********]     [*********]
</TABLE>

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CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

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<TABLE>
<S>                <C>                <C>                <C>                 <C>             <C>
[********                                                                    [********
*********                                                                    ********]
**********
***********
**********
***********
********
***********]

[********          [***]              [********]         [********]          [********       [********]
*********                                                                    [********]
**********                                                                   [********]
********
*********
**********]

[********          [***]              [********]         [********]          [********       [********]
*********                                                                    [********]
**********                                                                   [********]
********
*********
**********]

c) Milestones:
</TABLE>

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OMISSIONS.

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<TABLE>
<S>                                                                                            <C>
[************************************************************                                  [********]
****]

[************************************************************                                  [********]
****]

[************************************************************                                  [********]
****]

Aggregate Budgeted Amount for Research Program I                                               [********]
</TABLE>

Each milestone shall be due and payable [************] after it is achieved.
All milestones under Research Program I that are not achieved prior to the
Research Termination Date will nevertheless be paid by CFFT to Predix if
achieved within [********] after the Research Termination Date.

*Periods are estimates. The parties anticipate that particular aspects of the
Research Programs may take longer than the periods indicated but that the
Research Programs will likely be completed on or prior to the Research
Termination Date.

**This payment shall be reduced to [********] if this milestone is accomplished
before the milestone in subparagraph (c)(2) above ("Milestone (c)(2)"); and, the
remaining [********] shall be added to the amount specified for Milestone (c)(2)
and paid to Predix upon the accomplishment of Milestone (c)(2).

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SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
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OMISSIONS.

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            3.1.2 RESEARCH PROGRAM II

      The total Budget for Research Program II shall be [*****] consisting of up
to [******] FTEs per year and/or the expense of out-sourced activities, for the
[******] period beginning on the Effective Date. FTEs budgeted amounts shall be
billed by Predix to CFFT [******]; provided that, total FTE billing in
[*************************] during which Research Program II will be conducted
will not exceed [*****] FTEs billable at [****] per FTE in each such
[*************] period. If Predix does not identify a hit for the P2Y(2)
receptor that has an [***************] in a [**************] (or an equivalent
assay) (a "Hit"), within the [***************] period following the Effective
Date of this Agreement, CFFT will terminate payments for FTE payments for
Research Program II, after payment for the FTE's allocable to the initial
[********] period until a Hit is identified; provided that, FTE payments for the
additional [***********] period budgeted for Research Program II will resume
when a Hit is identified if such identification occurs within
[******************] of such termination.

      3.2 PAYMENTS.

            Budgeted payments due on account of internal FTEs shall be made by
CFFT [******] within [***********] of the receipt of invoices for such amounts.
Budgeted payments on account of external costs shall be made by CFFT [******] in
arrears within [**********] following receipt of an invoice for such external
costs accompanied by usual and customary documentation of such costs. Amounts
budgeted for outsourced activities may be reallocated among different outsourced
activities so long as the total costs to be reimbursed by CFFT do not exceed the
total amount budgeted for outsourced activities. In addition to the amounts
indicated above for outsourced activities, CFFT shall arrange for and direct pay
a service provider for the [******************] services described in Section
10.2.1 of Exhibit 2.4. All payments shall be made without deduction for
withholding or other similar taxes, in United States dollars to the

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                     - 15 -
<PAGE>

credit of such bank account as may be designated by Predix in writing to CFFT.
Any payments which fall due on a date which is a legal holiday in the State of
Maryland may be made on the next following day which is not a legal holiday in
the State of Maryland. On or before each of [**************************] Predix
will provide CFFT with an accounting of all internal FTE costs (consisting of
the names and dates worked for those persons who are included within the
reimbursed FTE costs) and outsourcing costs incurred under the Research Programs
during the most recently concluded calendar year. Internal FTE costs will be
calculated at an annual rate of [******] per FTE. Costs incurred will be
compared with funds provided by CFFT on account of that year, and any excess of
funds paid to Predix over costs incurred will be refunded to CFFT within
[******] or, as to amounts due on account of [*****] activities, applied as
a credit against amounts due for [*****] activities.

      3.3 RECORDS.

            Predix shall keep accurate records and books of accounts containing
all data reasonably required for the calculation and verification of the number
of FTE's employed in the performance of the Research Programs, and outsourcing
costs incurred by Predix in the Research Program during the term of this
Agreement and for a period of [*************] thereafter. CFFT, through an
independent accounting firm unaffiliated with either CFFT or Predix, shall have
the right at its expense to audit Predix's relevant records to verify compliance
with FTE and other research funding allocation requirements hereunder. At CFFT's
request, Predix shall make those records available, no more than [********],
during reasonable working hours, for review by a recognized independent
accounting firm acceptable to both Parties, at CFFT's expense, for the sole
purpose of verifying the accuracy of those records in the calculation of
Research Program FTEs and outsourcing costs. Predix shall not, however, be
required to retain or make available to CFFT or its accountants, any such
records or books of account for [******************************]

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                     - 16 -
<PAGE>

*******] beyond [***************] from the Research Termination Date. CFFT
shall cause the accounting firm to retain all such information in confidence.
Such accounting firm shall report to CFFT only the existence and amount of any
variance between the amount paid and the amount that was actually due hereunder.
In the event that the aggregate costs actually chargeable to the Research
Programs during any calendar year are less than the amount previously advanced
to Predix by CFFT and properly attributable to that calendar year (a "Negative
Difference"), in addition to reimbursing CFFT for the Negative Difference
[*************************** **************************], if the Negative
Difference [*************************] of the amounts properly attributable to
that calendar year, then Predix shall [*****************
****************************************************] in the review.

                    ARTICLE IV - COMMERCIALIZATION; ROYALTIES

      4.1 DISCOVERY AND COMMERCIALIZATION OF A CFTR CORRECTOR-BASED PRODUCT;
COMMERCIALIZATION OF P2(Y)2 PRODUCT.

            4.1.1 DISCOVERY AND COMMERCIALIZATION OF A CFTR CORRECTOR-BASED
PRODUCT. Following the completion of the work set forth in the Research Plan
relating to Research Program I (or prior to its completion if the Parties so
desire), the Parties agree to negotiate in good faith, for a period of up to
[*************], towards an agreement pursuant to which Predix will, building
upon the Predix CF Technology, explore a structure-based route for the discovery
and commercialization of a molecule that will act as a CFTR Corrector with the
financial support of CFFT and subject to a royalty or similar obligation to
CFFT. Other than participating in such good faith negotiations, however, neither
party shall be obligated to enter into such an agreement. If the Parties do not
enter into such an agreement during such [*******

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CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                     - 17 -
<PAGE>

***] period, an Interruption shall be deemed to have occurred with respect to
Research Program I with the attendant consequences provided for in Section 9.6.

            4.1.2 COMMERCIALIZATION OF P2Y(2) PRODUCT. Except in the event of an
Interruption, Predix and/or its licensees and sublicensees shall have exclusive
rights to market, sell and distribute any or all P2Y(2) Products throughout the
Territory.

      4.2 DUE DILIGENCE.

            Predix shall[**********************************************
****************************************************************************] to
effect introduction of P2(Y)2 Products into major markets in North America and
Europe [************************************************************************
********************************************************************************
**********************************************************]  Efforts").

      4.3 ROYALTIES.

            Within [**********] following the [***************] of the first
P2(Y)2 Product, Predix shall pay a [********************************]. If
aggregate Net Sales of such P2(Y)2 Product in the [***************] following
the month the [*************************] is granted ("Relevant [**]") exceed
$250 million, Predix shall pay to CFFT an additional [********************]; or,
if such Net Sales exceed [************], Predix shall pay to CFFT an additional
[***********************] (in lieu of the [**********] payment). The additional
royalty shall be paid within [********] following the close of the relevant
[*************].

      4.4 SALES REPORTS.

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SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                     - 18 -
<PAGE>

            (a) Within [*********] after the conclusion of the Relevant [**],
Predix shall furnish or cause to be furnished to CFFT a written report or
reports covering the Relevant [**] showing, for Net Sales, (i) the Net Sales for
the first P2(Y)2 Product in each country in the world during the reporting
period by Predix and each Affiliate, licensee and sublicensee; (ii) any royalty,
payable in U.S. dollars ("Dollars"), which shall have accrued under Section 4.3
hereof in respect of such sales and the basis of calculating the royalty; and
(iii) the exchange rates used in converting into Dollars, from the currencies in
which sales were made, any amounts which are included within Net Sales; and (iv)
dispositions of P2(Y)2 Products other than pursuant to sale for cash. With
respect to sales of P2(Y)2 Products invoiced in Dollars, the Net Sales amounts
and the amounts due to CFFT hereunder shall be expressed in Dollars. With
respect to sales of P2(Y)2 Products invoiced in a currency other than Dollars,
the Net Sales and amounts due to CFFT hereunder shall be expressed in the
domestic currency of the party making the sale, together with the Dollar
equivalent of the amount payable to CFFT, calculated by translating foreign
currency sales into U.S. dollars at the exchange rates for the [**************
************************************************************]. If any licensee
or sublicensee makes any sales invoiced in a currency other than its domestic
currency, the Net Sales shall be converted to its domestic currency in
accordance with the licensee's or sublicensee's normal accounting principles.
Predix shall keep accurate records in sufficient detail to enable the amounts
due hereunder to be determined and to be verified by CFFT.

            (b) Amounts shown to have accrued by each sales report provided for
under Section 4.4(a), above, shall be due and payable on the date that sales
report is due.

            (c) All payments shall be made in Dollars.

            (d) Upon the written request of CFFT, at CFFT's expense and not more
than [***] time in the [*************] period following the receipt by CFFT of
the report required

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                     - 19 -
<PAGE>

under Section 4.4(a), Predix shall permit an independent accountant of national
prominence selected by CFFT, to have access during normal business hours to
those records of Predix as may be reasonably necessary to verify the accuracy of
the report furnished by Predix pursuant to this Section 4.4. The report prepared
by such independent accountant, a copy of which shall be sent or otherwise
provided to Predix by such independent accountant at the same time it is sent or
otherwise provided to CFFT, shall contain the conclusions of such independent
accountant regarding the existence and amount of any variance between the amount
paid and the amount that was actually due hereunder. If such independent
accountant's report shows any underpayment, Predix shall remit to CFFT within
[************] after Predix's receipt of such report (i) the amount of such
underpayment [******************************************************************
*************************************************] and (ii) if such underpayment
exceeds [*************] of the total amount owed, [****************************
*********************************************************************
********************************************************************************
***************]. Any overpayment shall be refunded by CFFT to Predix within
[***********] following CFFT's receipt of the auditor's report. CFFT agrees
that all information subject to review under this Section 4.4 is confidential
and that CFFT shall retain and cause its accountant to retain all such
information in confidence.

            (e) In case of any delay in payment by Predix to CFFT not occasioned
by Force Majeure, [**********************************************************
**********************************************].

                          ARTICLE V - CONFIDENTIALITY

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                     - 20 -
<PAGE>

      5.1 UNDERTAKING.

            During the term of this Agreement, each party shall keep
confidential, and other than as provided herein, shall not use or disclose,
directly or indirectly, any trade secrets, confidential or proprietary
information, or any other knowledge, information, documents or materials, owned,
developed or possessed by the other party, whether in tangible or intangible
form, the confidentiality of which such other party takes reasonable measures to
protect ("Confidential Information"). Neither CFFT nor Predix will use the other
party's Confidential Information except as expressly permitted in this
Agreement:

                  (a) Each party shall take any and all lawful measures to
            prevent the unauthorized use and disclosure of the other party's
            Confidential Information, and to prevent unauthorized persons or
            entities from obtaining or using that Information.

                  (b) Each party will refrain from directly or indirectly taking
            any action which would constitute or facilitate the unauthorized use
            or disclosure of the other party's Confidential Information. Each
            party may disclose that Information to its officers, employees and
            agents, to authorized licensees and sublicensees, and to
            subcontractors in connection with the development or manufacture of
            P2(Y)2 Products, to the extent necessary to enable such parties to
            perform their obligations hereunder or under the applicable license,
            sublicense or subcontract, as the case may be; provided, that such
            officers, employees, agents, licensees, sublicensees and
            subcontractors have entered into appropriate confidentiality
            agreements for secrecy and non-use of such Confidential

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CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                     - 21 -
<PAGE>

            Information which by their terms shall be enforceable by injunctive
            relief at the instance of the disclosing party.

                  (c) Each party shall be liable for any unauthorized use and
            disclosure of the other party's Confidential Information by its
            officers, employees and agents and any such sublicensees and
            subcontractors.

      5.2 EXCEPTIONS.

            Notwithstanding the foregoing, the provisions of Section 5.1 hereof
shall not apply to Confidential Information which the receiving party can
conclusively establish:

                  (a) has entered the public domain without such party's breach
            of any obligation owed to the disclosing party;

                  (b) is permitted to be disclosed by the prior written consent
            of the disclosing party;

                  (c) has become known to the receiving party from a source
            other than the disclosing party, other than by breach of an
            obligation of confidentiality owed to the disclosing party;

                  (d) is independently developed by the receiving party without
            breach of this Agreement; or

                  (e) is required to be disclosed by the receiving party to
            comply with applicable laws or regulations, to defend or prosecute
            litigation or to comply with governmental regulations, provided that
            the receiving party provides prior written

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                     - 22 -
<PAGE>

            notice of such disclosure to the disclosing party and takes
            reasonable and lawful actions to avoid or minimize the degree of
            such disclosure.

            Either Predix or CFFT may at any time, by notice in writing to the
other party, waive any or all of the confidentiality obligations to which the
other party is subject hereunder, for any length or time or with respect to any
specific information.

      5.3 PUBLICITY.

            The Parties will agree upon the timing and content of any initial
press release or other public communications relating to this Agreement and the
transactions contemplated herein.

                  (a) Except to the extent already disclosed in that initial
            press release or other public communication, no public announcement
            concerning the terms of this Agreement or concerning the
            transactions described herein shall be made, either directly or
            indirectly, by Predix or CFFT, except (i) as may be legally required
            by applicable laws, regulations, or judicial order, (ii) as may be
            required by the rules of any stock exchange on which such party's
            securities are listed, or (iii) if limited to the fact that the
            Research Programs exist, that research is in progress, and its
            anticipated completion without first obtaining the approval of the
            other party and agreement upon the nature, text, and timing of such
            announcement, which approval and agreement shall not be unreasonably
            withheld.

                  (b) The party desiring to make any such public announcement
            shall provide the other party with a written copy of the proposed
            announcement in

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                     - 23 -
<PAGE>

            sufficient time prior to public release to allow such other party to
            comment upon such announcement, prior to public release.

                            ARTICLE VI - PUBLICATION

      Each of Predix and CFFT reserves the right to publish or publicly present
the data generated during the performance of the Research Programs (the
"Results"), subject to the following terms and conditions. The party proposing
to publish or publicly present the Results (the "publishing party") will submit
a draft of any proposed manuscript or speech to the other party (the
"non-publishing party") for comments at least [*************] prior to
submission for publication or oral presentation. The non-publishing party shall
notify the publishing party in writing within [************] of receipt of such
draft whether such draft contains (i) information of the non-publishing party
which it considers to be confidential under the provisions of Article V hereof,
(ii) information that if published would have an adverse effect on a patent
application which the non-publishing party intends to file, or (iii) information
which the non-publishing party reasonably believes would be likely to have a
material adverse impact on the development or commercialization of a P2(Y)2
Product or a CFTR Corrector-based product. In any such notification, the
non-publishing party shall indicate with specificity its suggestions regarding
the manner and degree to which the publishing party may disclose such
information. In the case of item (ii) above, the non-publishing party may
request a delay and the publishing party shall delay such publication, for a
period not exceeding an additional [*************], to permit the timely
preparation and filing of a patent application or an application for a
certificate of invention on the information involved. In the case of item (i)
above, no party may publish Confidential Information of the other party without
its consent in violation of Article V of this Agreement. In the case of item
(iii) above, if the publishing party shall disagree with the non-publishing
party's

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                     - 24 -
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assessment of the impact of the publication, then the issue shall be referred to
the Chief Executive Officer of CFFT and the Chief Executive Officer of Predix
who shall attempt in good faith to reach a fair and equitable resolution of this
disagreement. If the disagreement is not resolved in this manner within
[*************] of referral to the respective Chief Executive Officers, then the
decision of the publishing party as to publication of any information generated
by it, subject always to the confidentiality provisions of Article V hereof,
shall be final, provided that such decision shall be exercised with reasonable
regard for the interests of the non-publishing party. The Parties agree that
authorship of any publication will be determined based on the customary
standards then being applied in the relevant scientific journal. The Parties
will use their reasonable best efforts to gain the right to review proposed
publications relating to the subject matter of the Research Programs by
consultants or contractors.

      Notwithstanding the foregoing and subject to the last sentence of this
paragraph, Predix intends to advance the body of general scientific knowledge of
CF and its potential therapies, and to contribute to the identification of
chemical tools as optimal scientific benchmarks, all in a manner consistent with
its general scientific and commercial objectives in entering into the
collaboration with CFFT to which this Agreement relates. In furtherance of that
objective, Predix will publish the 3D structure of the CFTR to be developed by
Predix by the [*******************] after the achievement of the second
milestone set forth in Section 3.1.1, or the termination of this Agreement,
whichever occurs first. CFFT's funding of the research will be acknowledged by
the publication; and by the [*************] after the achievement of such second
milestone, Predix shall cause the 3D structure of the CFTR developed by Predix
to become part of the public domain. In addition, Predix shall grant to up to
[******] requesting qualified, not-for-profit research institutions, reasonably
acceptable to Predix, a nonexclusive license to use the 3D structure of the CFTR
solely for research purposes. Such non-exclusive

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
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CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                     - 25 -
<PAGE>

licenses shall include restrictions on the disclosure of Predix' confidential
information, including without limitation, the structure of the CFTR (if not
previously published by Predix); provided that the licensee shall be permitted
to publish the data, including mutagenesis data, it may generate in the exercise
of the license. Notwithstanding the foregoing publication and licensing
obligations in this paragraph, if at any time such obligations are scheduled to
occur, CFFT has a license pursuant to Section 9.6, CFFT (and not Predix) shall
determine the timing and scope of such publication and the recipients of such
sublicenses with respect to the rights covered by the license granted to CFFT.

                         ARTICLE VII - INDEMNIFICATION

      7.1 INDEMNIFICATION BY PREDIX.

            Predix will indemnify and hold CFFT and its Affiliates, and their
employees, officers and directors harmless against any loss, damage, action,
suit, claim, demand, liability, expense, bodily injury, death or property damage
(a "Loss"), that may be brought, instituted or arise against or be incurred by
such persons to the extent such Loss is based on or arises out of:

                  (a) the conduct of the Research Programs by Predix or its
            Affiliates or their representatives, agents, authorized licensees,
            sublicensees or subcontractors under this Agreement, or any actual
            or alleged violation of law resulting therefrom; or

                  (b) the breach by Predix of any of its covenants,
            representations or warranties set forth in this Agreement; and

                  (c) provided however, that the foregoing indemnification shall
            not apply to any Loss to the extent such Loss is caused by the
            negligent or willful

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SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                     - 26 -
<PAGE>

            misconduct of CFFT or its Affiliates or a breach of this Agreement
            by CFFT or its Affiliates.

      7.2 CLAIMS PROCEDURES.

            In order to be indemnified by Predix, pursuant to Section 7.1, CFFT
shall give notice to Predix promptly after CFFT has actual knowledge of any
threatened or asserted claim as to which indemnity may be sought, and shall
permit Predix to assume the defense of any such claim or any litigation
resulting therefrom; provided:

                  (a) that counsel for Predix, who shall conduct the defense of
            such claim or any litigation resulting therefrom, shall be approved
            by CFFT (the approval of which shall not unreasonably be withheld)
            and CFFT may participate in such defense at its expense, unless (i)
            the employment of counsel by CFFT has been authorized by Predix; or
            (ii) there is a conflict of interest that would prevent Predix and
            CFFT from being represented by a single law firm in the defense of
            such action, in each of which instance Predix shall pay the
            reasonable fees and expenses of one law firm serving as counsel for
            CFFT, which law firm shall be subject to approval, not to be
            unreasonably withheld, by Predix; and

                  (b) the failure of CFFT or its Affiliates to give notice as
            provided herein shall relieve Predix of its obligations under this
            Agreement to the extent that the failure to give notice prejudices a
            defense that otherwise may have been available or increases the
            amount of the Loss or otherwise results in harm to Predix.

                  (c) Predix shall not, in the defense of any such claim or
            litigation, except with the approval of CFFT which approval shall
            not be unreasonably

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OMISSIONS.

                                     - 27 -
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            withheld, consent to entry of any judgment or enter into any
            settlement which (i) would result in injunctive or other relief
            being imposed against CFFT and its Affiliates; or (ii) does not
            include, as an unconditional term thereof, the giving by the
            claimant or plaintiff to CFFT and its Affiliates of a release from
            all liability in respect to such claim or litigation.

                  (d) CFFT and its Affiliates shall cooperate in the defense of
            such claim as reasonably requested by Predix, including without
            limitation, by furnishing such information regarding itself or the
            claim in question as Predix may reasonably request in writing.

                      ARTICLE VIII - PATENTABLE INVENTIONS

      8.1 OWNERSHIP.

            All inventions made and all data and know-how generated exclusively
by either party or its Affiliates (directly or through others acting on its
behalf) prior to and during the term of this Agreement relating to the Research
Program shall be owned by the party making the invention or generating the data
or know-how claimed, or if such invention is made jointly (a "Joint Invention"),
shall be owned jointly, all as determined in accordance with United States laws
of inventorship; provided that, CFFT hereby grants to Predix an exclusive (even
as to CFFT) worldwide license to its rights in any Joint Invention and any
invention made by a CFFT employee resulting from the Research Program for the
purposes specified in this Agreement.

      8.2 PREPARATION.

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OMISSIONS.

                                     - 28 -
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            Predix shall take responsibility for the preparation, filing,
prosecution and maintenance of all Predix Patents, and any patents and patent
applications claiming Joint Inventions, and CFFT shall take responsibility for
the preparation, filing, prosecution and maintenance of all CFFT Patents. Predix
shall provide the JRC with periodic reports listing, by name, Patents filed by
Predix in the United States and other jurisdictions, along with a general
summary of the claims made and the jurisdictions of filing.

      8.3 COSTS.

            [*******] shall be responsible for all costs incurred in the
preparation, prosecution and maintenance of [*************] and [*************].

                       ARTICLE IX - TERM AND TERMINATION

      9.1 TERM.

            This Agreement will expire upon the Research Termination Date as
defined herein, unless earlier terminated by either party hereto in accordance
with this Agreement, or unless extended by mutual agreement of the Parties.

      9.2 TERMINATION OF THE RESEARCH PROGRAMS WITHOUT CAUSE.

            CFFT may terminate either or both of the Research Programs without
cause upon one hundred and twenty (120) day's notice.

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OMISSIONS.

                                     - 29 -
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      9.3 TERMINATION OF THE RESEARCH PROGRAM BY CFFT FOR CAUSE.

            Without limitation of its ability to seek damages for breach of this
Agreement, CFFT may at its sole discretion unilaterally terminate the Research
Program and this Agreement upon the occurrence of any of the following events:

                  (a) Predix shall materially breach any of its material
            obligations under this Agreement, and such material breach shall not
            have been remedied or material steps initiated to remedy the same to
            CFFT's reasonable satisfaction, within thirty (30) days after CFFT
            sends written notice of breach to Predix; or

                  (b) Predix shall cease to function as a going concern by
            suspending or discontinuing its business for any reason except for
            interruptions caused by events of Force Majeure.

            In the event of any valid termination under this Section 9.3, CFFT
shall not be required to make any payments which have not accrued prior to
receipt by Predix of the notice of breach referenced under Section 9.3(a) or
receipt by Predix of the notice of termination pursuant to this Section 9.3(b),
as the case may be.

      9.4 TERMINATION OF THE RESEARCH PROGRAM BY PREDIX FOR CAUSE.

            Without limitation of its ability to seek damages for breach of this
Agreement, Predix may at its sole discretion terminate this Agreement upon
written notice to CFFT upon the occurrence of the following event:

            CFFT shall materially breach any of its material obligations under
this Agreement and such material breach shall not have been remedied or material
steps initiated to remedy the same to Predix's reasonable satisfaction, within
thirty (30) days after Predix sends written notice of breach to CFFT.

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
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CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                     - 30 -
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      9.5 GENERAL EFFECT OF TERMINATION.

                  (a) The termination of this Agreement for any reason, or
            expiration of this Agreement, will not affect obligations which have
            accrued as of the date of termination or expiration, and obligations
            and rights under the following Sections, each of which shall survive
            any expiration or termination: Sections 2.5.2, 3.1.1 (solely for
            payment for milestones completed within [*****************] of such
            expiration), 3.3, 9.5 and 9.6 and Articles IV, V, VI, VII, VIII, X
            and XI.

                  (b) Subject to Section 4.1 hereof, and subject to the license
            that may be granted under Section 9.6(a), upon termination or
            expiration of this Agreement, Predix will retain ownership or
            exclusive rights to the Predix CF Technology and the inventions
            licensed to it by CFFT pursuant to Section 8.1 of this Agreement
            (including intellectual property rights).

      9.6 CONSEQUENCES OF AN INTERRUPTION.

            Upon the effective date of any Interruption with respect to Research
Program I and/or Research Program II, the following license in favor of CFFT
shall become effective:

                  (a) CFFT shall have an irrevocable, with respect to the
            Research Program to which an Interruption has occurred, exclusive
            (even as to Predix) worldwide license, with the right to sublicense,
            under the Predix CF Technology and Joint Inventions to develop,
            manufacture, have manufactured, use, sell, offer to sell and import
            CFTR Corrector-based products or P2Y(2) Products, as applicable, in
            the Field.

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                     - 31 -
<PAGE>

                  (b) In lieu of any research funding obligation owed by CFFT to
            Predix pursuant to this Agreement, except obligations that accrued
            prior to the date of termination and obligations that survive
            termination of this Agreement, CFFT shall pay Predix a
            [*************] royalty on the annual Net Sales of any CFTR
            Corrector-based products discovered or developed using the Predix CF
            Technology or P2Y(2) Products, as applicable, thereafter sold by
            CFFT or any Affiliate, licensee or sublicensee of CFFT, to which the
            foregoing licenses relate.

                  (c) In connection with either or both of the foregoing
            licenses, Predix shall deliver to CFFT, expeditiously upon the
            occurrence of an Interruption, all materials and data generated in
            the performance of Research Program I or Research Program II as
            applicable and the Predix CF Technology, including without
            limitation, the 3D coordinates of the CFTR, that are relevant to
            Research Program I or Research Program II, as applicable.

                   ARTICLE X - REPRESENTATIONS AND WARRANTIES

      10.1 REPRESENTATIONS AND WARRANTIES OF PREDIX.

            Predix represents and warrants to CFFT that this Agreement has been
duly executed and delivered by Predix and constitutes the valid and binding
obligation of Predix, enforceable against Predix in accordance with its terms
except as enforceability may be limited by bankruptcy, fraudulent conveyance,
insolvency, bankruptcy, reorganization, moratorium and other laws relating to or
affecting creditors' rights generally and by general equitable principles. The
execution, delivery and performance of this Agreement have been duly authorized
by all necessary action on the part of Predix, its officers and directors.

      10.2 REPRESENTATIONS AND WARRANTIES OF CFFT.

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                     - 32 -
<PAGE>

            CFFT represents and warrants to Predix that this Agreement has been
duly executed and delivered by CFFT and constitutes the valid and binding
obligation of CFFT, enforceable against CFFT in accordance with its terms except
as enforceability may be limited by bankruptcy, fraudulent conveyance,
insolvency, bankruptcy, reorganization, moratorium and other laws relating to or
affecting creditors' rights generally and by general equitable principles. The
execution, delivery and performance of this Agreement have been duly authorized
by all necessary action on the part of CFFT, its officers and directors.

                     ARTICLE XI - MISCELLANEOUS PROVISIONS

      11.1 GOVERNING LAW, AND JURISDICTION.

            This Agreement shall be governed and construed in accordance with
the internal laws of the State of Maryland.

      11.2 WAIVER.

            No provision of this Agreement may be waived except in writing by
both Parties hereto. No failure or delay by either party hereto in exercising
any right or remedy hereunder or under applicable law will operate as a waiver
thereof, or a waiver of any right or remedy on any subsequent occasion.

      11.3 FORCE MAJEURE.

            Neither party will be in breach hereof by reason of its delay in the
performance of or failure to perform any of its obligations hereunder, if that
delay or failure is caused by strikes, acts of God or the public enemy, riots,
incendiaries, interference by civil or military authorities,

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                     - 33 -
<PAGE>

compliance with governmental priorities for materials, or any fault beyond its
reasonable control or without its fault or negligence.

      11.4 SEVERABILITY.

            Should one or more provisions of this Agreement be or become
invalid, then the Parties hereto shall attempt to agree upon valid provisions in
substitution for the invalid provisions, which in their economic effect come so
close to the invalid provisions that it can be reasonably assumed that the
Parties would have accepted this Agreement with those new provisions. If the
Parties are unable to agree on such valid provisions, the invalidity of such one
or more provisions of this Agreement shall nevertheless not affect the validity
of the Agreement as a whole, unless the invalid provisions are of such essential
importance for this Agreement that it may be reasonably presumed that the
Parties would not have entered into this Agreement without the invalid
provisions.

      11.5 GOVERNMENT ACTS.

            In the event that any act, regulation, directive, or law of a
country or its government, including its departments, agencies or courts, should
make impossible or prohibit, restrain, modify or limit any material act or
obligation of CFFT or Predix under this Agreement, the party, if any, not so
affected, shall have the right, at its option, to suspend or terminate this
Agreement as to such country, if good faith negotiations between the Parties to
make such modifications therein as may be necessary to fairly address the impact
thereof, are not successful after a reasonable period of time in producing
mutually acceptable modifications to this Agreement.

      11.6 ASSIGNMENT.

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SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                     - 34 -
<PAGE>

            This Agreement may not be assigned or otherwise transferred by
either party without the prior written consent of the other party; provided,
however, that either party may assign this Agreement, without the consent of the
other party, (i) to any of its Affiliates, if the assigning party guarantees the
full performance of its Affiliates' obligations hereunder, or (ii) in connection
with the transfer or sale of all or substantially all of its assets or business
to which this Agreement relates or in the event of its merger or consolidation
with another company. Any purported assignment in contravention of this Section
11.6 shall, at the option of the non-assigning party, be null and void and of no
effect. No assignment shall release either party from responsibility for the
performance of any accrued obligation of such party hereunder. This Agreement
shall be binding upon and enforceable against the successor to or any permitted
assignees from either of the Parties hereto.

      11.7 COUNTERPARTS.

            This Agreement may be executed in duplicate, each of which shall be
deemed to be original and both of which shall constitute one and the same
Agreement.

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                     - 35 -
<PAGE>

      11.8 NO AGENCY.

            Nothing herein contained shall be deemed to create an agency, joint
venture, amalgamation, partnership or similar relationship between CFFT and
Predix. Notwithstanding any of the provisions of this Agreement, neither party
to this Agreement shall at any time enter into, incur, or hold itself out to
third parties as having authority to enter into or incur, on behalf of the other
party, any commitment, expense, or liability whatsoever, and all contracts,
expenses and liabilities in connection with or relating to the obligations of
each party under this Agreement shall be made, paid, and undertaken exclusively
by such party on its own behalf and not as an agent or representative of the
other.

      11.9 NOTICE.

            All communications between the Parties with respect to any of the
provisions of this Agreement will be sent to the addresses set out below, or to
such other addresses as may be designated by one party to the other by notice
pursuant hereto, by prepaid, certified air mail (which shall be deemed received
by the other party on the seventh business day following deposit in the mails),
or by facsimile transmission, or other electronic means of communication (which
shall be deemed received when transmitted), with confirmation by first class
letter, postage pre-paid, given by the close of business on or before the next
following business day:

            if to CFFT, at:

               Cystic Fibrosis Foundation Therapeutics Incorporated

               6931 Arlington Road

               Bethesda, Maryland  20814

               Attention:  Dr. Robert J. Beall, President

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                     - 36 -
<PAGE>

            with a copy to: Kenneth I. Schaner, Esq.

               Swidler Berlin LLP

               3000 K Street, N.W., Suite 300

               Washington, D.C. 20007

            if to Predix, at:

               Predix Pharmaceuticals Holdings , Inc.

               10K Gill Street

               Woburn, MA  01810

               Attention:  President

               with a copy to: Christopher J. Denn, Esq.

               Mintz, Levin, Cohn, Ferris, Glovsky and Popeo PC

               One Financial Center

               Boston, MA 02111

      11.10 HEADINGS.

            The paragraph headings are for convenience only and will not be
deemed to affect in any way the language of the provisions to which they refer.

      11.11 AUTHORITY.

            The undersigned represent that they are authorized to sign this
Agreement on behalf of the Parties hereto. The Parties each represent that no
provision of this Agreement will

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                     - 37 -
<PAGE>

violate any other agreement that such party may have with any other person or
company. Each party has relied on that representation in entering into this
Agreement.

      11.12 ENTIRE AGREEMENT.

            This Agreement contains the entire understanding of the Parties
relating to the matters referred to herein, and may only be amended by a written
document, duly executed on behalf of the respective Parties.

      11.13 NOTICE OF PHARMACEUTICAL SIDE-EFFECTS.

            During the term of this Agreement, the Parties shall keep each other
promptly and fully informed and will promptly notify appropriate authorities in
accordance with applicable law, after receipt of information with respect to any
serious adverse event (as defined by the ICH Harmonized Tripartite Guideline on
Clinical Safety Data Management), directly or indirectly attributable to the use
or application of any P2(Y)2 Product, and any other product for which royalties
are payable under this Agreement.

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                     - 38 -
<PAGE>

Agreed and acknowledged as of the Effective Date.

                                  PREDIX PHARMACEUTICALS HOLDINGS, INC.

                                  By: /s/ MICHAEL G. KAUFFMAN, MD
                                      ---------------------------------
                                      Title: President and CEO

                                  CYSTIC FIBROSIS FOUNDATION THERAPEUTICS
                                  INCORPORATED

                                  By: /s/ ROBERT J. BEALL
                                      -----------------------
                                      Title: President and CEO

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                     - 39 -
<PAGE>

                                  CONFIDENTIAL

                                   EXHIBIT 2.4

                             CFTR PROGRAM WORK PLAN

     [ * * * * * * * * CFTR Program Work Plan contains confidential material
             and has been omitted in its entirety. * * * * * * * *]

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

<PAGE>

                            P2Y(2) PROGRAM WORK PLAN

     [ * * * * * * * P2Y(2) Program Work Plan contains confidential material
             and has been omitted in its entirety. * * * * * * * *]

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.<PAGE>

                                                                   EXHIBIT 10.16

                                                                  EXECUTION COPY

                     AMENDED AND RESTATED LICENSE AGREEMENT

            This Amended and Restated License Agreement (this "Agreement") is
made effective as of May 20, 2004 (the "Restated Effective Date") by and between
Ramot at Tel Aviv University Ltd., Company Registration No. 51-066714-0, a
corporation duly organized and existing under the laws of the State of Israel
("Ramot") and Predix Pharmaceuticals Holdings, Inc. a corporation duly organized
and existing under the laws of the State of Delaware (hereinafter
"Predix")(Ramot and Predix are each hereafter referred to individually as a
"Party" and together as the "Parties").

      WHEREAS, Ramot is a company formed by Tel-Aviv University ("TAU") for
applied research and industrial development of know-how and inventions developed
or arrived at by scientists of TAU; and

      WHEREAS, by operation of law or under the terms of such scientists'
employment or other relationships with TAU or Ramot, and according to agreement
between TAU and Ramot, all rights, title and interest in and to such know-how
and inventions are owned by Ramot; and

      WHEREAS, Ramot has the right and authority to enter into agreements
relating to such know-how and inventions; and

      WHEREAS, Ramot (formerly Ramot University Authority For Applied Research
and Industrial Development Ltd.) and Predix (by assignment from a predecessor
corporation) are Parties to that certain License Agreement dated September 18,
2000 (the "Effective Date"), pursuant to which Ramot granted to Predix an
exclusive license under intellectual property rights controlled by Ramot and
pertaining to certain drug discovery and development technology (the "Original
Agreement"); and

      WHEREAS, Ramot and Predix now desire to amend and restate the Original
Agreement in its entirety as set forth herein.

      NOW, THEREFORE, in consideration of the mutual covenants contained herein,
and for other good and valuable consideration, the receipt and adequacy of which
are hereby acknowledged, the Parties hereby agree as follows:

      1. DEFINITIONS

      Whenever used in the Agreement with an initial capital letter, the terms
defined in this Article 1 shall have the meanings specified.

            1.1 "AFFILIATE" shall mean, with respect to either Party, any other
person, corporation, company, partnership, joint venture and/or firm which
controls, is controlled by or is under common control with such Party. As used
in this Section 1.1 only, "control" of another person, corporation, company,
partnership, joint venture and/or firm shall mean the possession, directly or
indirectly, of the power to direct or cause the direction of the activities,
management or policies of such person, organization or entity, whether through
the ownership of voting securities, by contract or otherwise. Without limiting
the foregoing, control shall be presumed to

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

<PAGE>

exist when a person, corporation, company, partnership, joint venture and/or
firm (a) in the case of corporate entities, directly or indirectly owns at least
twenty percent (20%) of the stock or shares having the right to vote for the
election of directors, and (b) in the case of non-corporate entities, holds the
direct or indirect power to manage, direct or cause the direction of the
management and policies of the non-corporate entity or the power to elect at
least twenty percent (20%) of the members of the governing body of such
non-corporate entity, any corporation, firm, limited liability company,
partnership or other entity that directly controls or is controlled by or is
under common control with a Party to this Agreement.

            1.2 "CONFIDENTIAL INFORMATION" shall mean any confidential
scientific, technical, trade or business information relating to the subject
matter of this Agreement disclosed by or on behalf of one party to the other
that is either marked as confidential or if disclosed orally is reduced to a
written summary marked as confidential and delivered to the receiving party
within 30 days of disclosure. Confidential Information does not include
information that (i) is in possession of the receiving Party at the time of
disclosure, as reasonably demonstrated by written records; (ii) is or later
becomes part of the public domain through no fault of the receiving Party; (iii)
is received by a receiving Party from a third Party having no obligation of
confidentiality to the disclosing Party; or (iv) is developed independently by a
receiving Party without use of the disclosing Party's Confidential Information.

            1.3 "CONTROL" or "CONTROLLED" shall mean, with respect to any
intellectual property rights, the right and authority of a Party to grant the
rights, licenses and options provided for herein without breaching any written
agreement with any third Party by virtue of such grant.

            1.4 "DEVELOPMENT" and "DEVELOP" shall mean, with respect to any
Licensed Product, all activities with respect to such Licensed Product relating
to research and development and in connection with seeking, obtaining and/or
maintaining any Regulatory Approval for such Licensed Product in the Field in
the Territory, including without limitation, all pre-clinical research and
development activities, all human clinical studies, all activities relating to
developing the ability to manufacture any Licensed Product or any component
thereof (including, without limitation, process development work), and all other
activities relating to seeking, obtaining and/or maintaining any Regulatory
Approvals from the FDA and/or any Foreign Regulatory Authority.

            1.5 "DERIVATIVE WORK" means any software that is derived from the
Licensed Technology, including without limitation, software that is a
translation (including any translation into other computer languages),
portation, modification, correction, extension, upgrade, improvement,
compilation, abridgment, adaptation or other form of the Licensed Technology.
Derivative Works shall include without limitation any software that would
infringe any of Ramot's copyrights in the Licensed Technology.

            1.6 "DERIVED PRODUCT" shall mean a product, compound or drug
candidate that is identified, characterized or developed through the Use of
Licensed Technology and/or a Derivative Work, which is not a Discovered Product,
and that is commercialized by Predix, an Affiliate of Predix or a Sublicensee.
"Derived Products" include, without limitation, those compounds listed on
Exhibit 1.6 attached hereto.

            1.7 "DISCOVERED PRODUCT" shall mean a product, compound or drug
candidate that is identified from an in silico library through the Use of the
Licensed Technology and/or a

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                       2
<PAGE>

Derivative Work, which is commercialized by Predix, an Affiliate of Predix or
a Sublicensee, without Modification and which had not been Modified by Predix
prior to such identification. For purposes of this Section 1.7, "Modification"
and "Modified" shall mean modification or optimization that increases the
likelihood that the product, compound or drug candidate can be successfully
developed into a drug product, including without limitation, by making
modifications to such product, compound or drug candidate to alter the
pharmacokinetics, bioavailability, toxicity, or efficacy, to improve stability,
to solve or avoid manufacturing issues or to avoid the intellectual property
rights of a Third Party.

            1.8 "DISPUTE" shall have the definition set forth in Section 10.1.

            1.9 "DRUG APPROVAL APPLICATION" shall mean any application for
Regulatory Approval (including pricing and reimbursement approvals) required
prior to any commercial sale or use of a Licensed Product in any country or
jurisdiction in the Territory.

            1.10 "FIELD" shall mean and include all uses, including without
limitation, all uses relating to the diagnosis, prevention and treatment of any
and all diseases or conditions in humans or animals.

            1.11 "FIRST COMMERCIAL SALE" shall mean, on a country-by-country
basis, the date of the first arm's length transaction, transfer or disposition
for value to a Third Party of a Licensed Product by or on behalf of Predix or
any Affiliate of Predix in such country after Regulatory Approval has been
achieved in the country in which such Licensed Product is sold. Sales for test
marketing, sampling and promotional uses, clinical trial purposes or
compassionate or similar use shall not be considered to constitute a First
Commercial Sale.

            1.12 "FDA" shall mean the United States Food and Drug Administration
and any successor agency or authority thereto.

            1.13 "FOREIGN REGULATORY AUTHORITIES" shall mean any applicable
supranational, national, federal, state or local regulatory agency, department,
bureau or other governmental entity of any country or jurisdiction in the
Territory (other than the FDA in the United States), having responsibility in
such country or jurisdiction for any Regulatory Approvals of any kind in such
country or jurisdiction, and any successor agency or authority thereto.

            1.14 "LICENSED PATENT RIGHTS" shall mean all Patent Rights owned by
Ramot that claim Licensed Technology.

            1.15 "LICENSED PRODUCT" shall mean any and all Derived Products and
Discovered Products, taken collectively.

            1.16 "LICENSED TECHNOLOGY" shall mean: (a) the inventions disclosed
in Israeli Patent Application IL 137885, including without limitation, the novel
computational method for modeling the three (3) dimensional structure of
G-protein coupled receptors from their one (1) dimensional sequence, (b) the
inventions disclosed in Israeli Patent Application IL 137886, including without
limitation, the novel automated protein design algorithm based on the physical
properties that determine the protein structure stability and that is useful for
predicting protein sequences likely to achieve a desired folding pattern in a
very high computational efficiency.

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                       3
<PAGE>

            1.17 "LICENSED TECHNOLOGY EXCLUSIVITY TERM" shall mean that period
commencing on the Effective Date and continuing until the later of: (a) the
expiration or termination of the last [************] within the Licensed Patent
Rights and (b) the [*******] anniversary of the Effective Date.

            1.18 "NET SALES" shall mean the gross invoiced sales price for all
Licensed Products sold by Predix and its Affiliates to Third Parties throughout
the Territory during each calendar quarter, less the following amounts incurred
or paid by Predix or its Affiliates during such calendar quarter with respect to
sales of Licensed Products regardless of the calendar quarter in which such
sales were made:

            (a) trade, cash and quantity discounts or rebates actually allowed
            or taken, including discounts or rebates to governmental or managed
            care organizations;

            (b) credits or allowances actually given or made for rejection of,
            and for uncollectible amounts on, or return of previously sold
            Licensed Products (including Medicare and similar types of rebates);

            (c) any charges for insurance, freight, and other transportation
            costs directly related to the delivery of Licensed Product to the
            extent included in the gross invoiced sales price;

            (d) any tax, tariff, duty or governmental charge levied on the
            sales, transfer, transportation or delivery of a Licensed Product
            (including any tax such as a value added or similar tax or
            government charge) borne by the seller thereof, other than franchise
            or income tax of any kind whatsoever; and

            (e) any import or export duties or their equivalent borne by the
            seller;

            provided that:

            (i) In any transfers of Licensed Products between Predix and an
Affiliate of Predix or between an Affiliate of Predix and an Affiliate of such
Affiliate, Net Sales (subject to the deductions listed above) shall be equal to
the higher of: (x) the [**************] of the Licensed Products so transferred,
assuming [********************************************************] and (y) the
total amount invoiced by such Affiliate on resale to an independent third party
purchaser; and

            (ii) In the event that Predix, or an Affiliate of Predix, receives
non-monetary consideration for any Licensed Products or in the case of
transactions not at arm's length with a non-Affiliate of Predix or its
Affiliate, Net Sales (subject to the deductions listed above) shall be
calculated based on the fair market value of such consideration or transaction,
assuming an arm's length transaction made in the ordinary course of business.

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                       4
<PAGE>

Notwithstanding the foregoing, "Net Sales" shall not include sales or transfers
between Predix and its Affiliates, if the Licensed Product is resold by the
Affiliate.

In the event that a Licensed Product under this Agreement is sold in combination
with another active ingredient or component having independent therapeutic
effect or diagnostic utility, then "Net Sales," for purposes of determining
royalty payments on the combination, shall be calculated by [******************
******************************************************************************
***********]. 1.19 "PATENT RIGHTS" shall mean all patent applications and
patents, including Israeli and foreign applications, divisions, continuations,
and continuations-in-part, applications for certificates of invention and
priority rights, certificates of invention, reissues, re-examination
certificates, extensions or other governmental acts that effectively extend the
period of exclusivity by the patent holder, substitutions, renewals,
supplementary protection certificates, confirmations, registrations, validations
and additions.

            1.20 "REGULATORY APPROVAL" shall mean any and all final approvals
(including pricing and reimbursement approvals), product and establishment
licenses, registrations or authorizations of any kind of the FDA or any Foreign
Regulatory Authority permitting the commercial sale of a Licensed Product (or
any component thereof) for use in the Field in any country or other jurisdiction
in the Territory.

            1.21 "ROYALTY TERM" shall mean with respect to [****] Licensed
Product, on a country-by-country basis, a period of [**************] commencing
on the First Commercial Sale of [****] Licensed Product in such country.

            1.22 "SERVICE INCOME" shall mean all amounts and other consideration
received by Predix, or an Affiliate of Predix, for or in connection with the
performance of Services; provided that in the event that Predix or an Affiliate
of Predix receives non-monetary consideration in connection with any such
services or in the case of transactions not at arm's length, Service Income
shall be calculated based on the fair market value of such consideration or
transaction, assuming an arm's length transaction made in the ordinary course of
business.

            1.23 "SERVICES" shall mean services performed by Predix, or an
Affiliate of Predix, for the benefit of (a) a Third Party or (b) for the benefit
of a Third Party and Predix and/or an Affiliate of Predix, using the Licensed
Technology.

            1.24 "SOFTWARE PRODUCT" shall mean a software product that
incorporates Licensed Technology. Notwithstanding the foregoing, Software
Products that are also within the definition of "Discovered Product" or "Derived
Product" are hereby deemed to be Software Products only.

            1.25 "SUBLICENSE" shall mean a sublicense, assignment or other grant
of rights by Predix or an Affiliate of Predix to a Third Party (regardless of
whether such grant of rights is or is referred to as a sublicense) of or with
respect to: (a) some or all of the rights granted to Predix under this
Agreement; (b) a Software Product; or (c) the right to Develop, have Developed,
make, have made, use, have used, sell, offer for sale, have sold, import or have

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                        5
<PAGE>

imported Licensed Product(s). For avoidance of doubt, an assignment completed in
accordance with Section 11.3 shall not be included within the term "Sublicense".

            1.26 "SUBLICENSE INCOME" shall mean all amounts and other
consideration received by Predix or an Affiliate of Predix, in connection with a
Sublicense, excluding loans given at prevailing market conditions, research
funding specifically committed to cover costs [******] incurred by Predix in the
research and development of Licensed Products under and in accordance with
[**********************************] bona-fide sublicense agreements with
Sublicensees [*************************************************************
*******] and equity investments in Predix [**********************************];
provided that in the event that Predix or an Affiliate of Predix receives
non-monetary consideration in connection with any such Sublicense or in the case
of transactions not at arm's length, Sublicense Income shall be calculated based
on the fair market value of such consideration or transaction, assuming an arm's
length transaction made in the ordinary course of business. [*******************
*****************************************************************************].

            1.27 "SUBLICENSEE" shall mean any Third Party to whom Predix grants
a Sublicense.

            1.28 "TECHNOLOGY" shall mean any and all technical data,
information, processes, designs, ideas, know-how, methods, procedures, trade
secrets, formulae and all other technology, whether tangible or intangible and
whether patented, patentable or otherwise.

            1.29 "TERM" shall have the definition set forth in Section 9.1.

            1.30 "TERRITORY" shall mean all countries and jurisdictions of the
world.

            1.31 "THIRD PARTY" shall mean any person or entity other than
Predix, Ramot and their respective Affiliates.

            1.32 "USE" shall mean the use of the Licensed Technology or a
Derivative Work in any stage of the characterization, optimization or
development of a Licensed Product or the characterization of the protein
targeted by the Licensed Product; provided that such use either was made prior
to the Effective Date or is made during the Licensed Technology Exclusivity
Term.

            1.33 "VALID CLAIM" shall mean a claim in an unexpired patent or
patent application that: (a) has not been finally cancelled, withdrawn,
abandoned or rejected by any administrative agency or other body of competent
jurisdiction in a final non-appealable or unappealable decision, and (b) has not
been revoked, held invalid, or declared unpatentable in a decision of a court or
other body of competent jurisdiction that is unappealable or unappealed within
the time allowed for appeal.

      2. GRANT OF RIGHTS

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                        6
<PAGE>

      2.1 LICENSE TO PREDIX.

            2.1.1 Grant of License. Ramot hereby grants to Predix an exclusive,
royalty-bearing license, including the right to grant sublicenses in accordance
with Section 2.1.2, under the Licensed Patent Rights and Licensed Technology,
during the Term, to Develop, have Developed, make, have made, use, have used,
sell, offer for sale, have sold, import and have imported, Licensed Products in
the Territory, for any and all uses within the Field, subject to the terms and
conditions of this Agreement.

            2.1.2 Right to Sublicense. Predix shall have the right to grant
sublicenses to any Sublicensee to all or any portion of its rights under the
license granted pursuant to this Article 2, including without limitation as part
of a license to a Software Product; provided, however, that any and all such
sublicenses shall be made for consideration and in arm's length transactions.
Predix shall promptly deliver to Ramot a copy of all sublicenses and all
sublicenses shall be consistent with the material terms and conditions of this
Agreement that impact Ramot.

      3. DEVELOPMENT AND COMMERCIALIZATION OF LICENSED PRODUCTS.

            3.1 COMMERCIALIZATION.

                  3.1.1 Responsibility. From and after the Effective Date,
Predix shall have full control and authority over the Development and
commercialization of Licensed Products. All activities relating to Development
and commercialization under this Agreement shall be undertaken at Predix's sole
cost and expense.

                  3.1.2 Diligence. Predix will exercise [***********************
********] in developing and commercializing Licensed Products in the Field in
the Territory, such [*********************] to be in accordance [************
*****************************************************************************].
The collective annual expenditure by Predix, its Affiliates and Sublicensees of
not less than [*******************************] on the Development of Licensed
Products shall be deemed to satisfy Predix's obligations under this Section
3.1.2 for such year.

      4. PAYMENTS AND ROYALTIES

            4.1 LICENSE FEE. In consideration of the grant of the license
described in Section 2.1 hereof, Predix agrees to the payment to Ramot of an
upfront license fee in the amount of forty thousand dollars ($40,000). Ramot
hereby acknowledges the receipt of such payment prior to the Restated Effective
Date.

            4.2 SHARING OF SUBLICENSE INCOME. In further consideration of the
grant of the license by Ramot hereunder, and subject to the other terms of this
Agreement (including the remainder of this Article 4), Predix agrees to pay to
Ramot, within [***********] of receipt of

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                       7
<PAGE>

any Sublicense Income, an amount equal to: (a) [***********] of such Sublicense
Income if such Sublicense Income is attributable to a Sublicense with respect to
Discovered Products or Software Products and (b) [***********] of any and all
other Sublicense Income.

            4.3 SERVICE INCOME. In further consideration of the grant of the
license by Ramot hereunder, and subject to the other terms of this Agreement
(including the remainder of this Article 4), Predix agrees to pay to Ramot,
within [***********] of receipt of any Service Income, an amount equal to: (a)
[**] of all cumulative Service Income from [*********] to [*****************];
(b) [**] of all cumulative Service Income from [*********] to [************];
and (c) an amount equal to [**] of all cumulative Service Income above [****
*******]. Predix shall not be required to pay Ramot any amount on the first
[********] in cumulative Service Income.

            4.4 PAYMENT OF ROYALTIES; ROYALTY RATES; MINIMUM AND MAXIMUM ANNUAL
ROYALTIES.

                  4.4.1 Royalty Payments In further consideration of the grant
of the license by Ramot hereunder, and subject to the other terms of this
Agreement (including the remainder of this Article 4), commencing on the date of
the First Commercial Sale of [***] Licensed Product and continuing during the
Royalty Term for [***] Licensed Product, Predix shall pay to Ramot a royalty,
[*********************************************], and equal to a percentage of
cumulative annual Net Sales of [*******] Licensed Product sold by Predix and/or
its Affiliates in the Territory, as set forth below:

<TABLE>
<CAPTION>
                                                       PERCENTAGE OF NET SALES
LICENSED PRODUCT TYPE     ANNUAL NET SALES              PAYABLE AS ROYALTY
---------------------     -----------------            ----------------------
<S>                       <C>                          <C>
Discovered Products       [***************]                      [***]

                          [***************]                      [***]
                          [********]

                          [***************]                      [***]

Derived Products          [***************]                      [***]

                          [***************]                      [***]
                          [********]

                          [***************]                      [***]
</TABLE>

                  4.4.2 Minimum Royalties. In further consideration of the grant
of the license by Ramot hereunder, and subject to the other terms of this
Agreement (including the remainder of this Article 4), Predix agrees to pay to
Ramot an [*****] minimum royalty of [************************], payable on
[**************], and on [******************************************************

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                       8
<PAGE>

**********************************************]. All amounts paid by Predix
under Section 4.4.1 shall be fully credited against its obligations under this
Section 4.4.2.

                  4.4.3 Maximum Annual Royalties. Anything herein to the
contrary notwithstanding, the maximum amount Predix shall be obligated to pay to
Ramot under Section 4.4.1 as royalties on Net Sales generated during any
calendar year shall be [*****************************].

            4.5 PAYMENT TERMS.

                  4.5.1 Payment. Predix shall make any payments under Section
4.4 to Ramot in arrears within [**************] from the end of each quarter in
which such payment accrues. Each royalty payment shall be accompanied by a
report for each country in the Territory in which sales of Licensed Products
occurred in the calendar quarter covered by such statement, specifying: the
gross sales and Net Sales in each country's currency; the applicable royalty
rate under this Agreement; the royalties payable in each country's currency,
including an accounting of deductions taken in the calculation of Net Sales; the
applicable exchange rate to convert from each country's currency to United
States Dollars under this Section 4.4; and the royalties payable in United
States Dollars. [***************************************************************
**********************************************].

                  4.5.2 Accounting. All payments hereunder shall be made in
United States dollars by wire transfer to a bank account designated by Ramot.
Conversion of foreign currency to United States dollars shall be made at the
conversion rate existing in the United States [*********************************
************************************************************************
**********************************************], then the rate of exchange to be
used shall be [****************************************************************]
as the Parties reasonably agree. Such payments shall be without deduction of
exchange, collection, or other charges.

                  4.5.3 Tax Withholding; Restrictions on Payment. All payments
hereunder shall be made free and clear of any taxes, duties, levies, fees or
charges, except for withholding taxes (to the extent applicable). If applicable
law requires that taxes be withheld from any amounts due Ramot under this
Agreement, Predix shall make any applicable withholding payments due on behalf
of Ramot and shall promptly provide Ramot with a statement including the amount
of tax withheld and justification therefore, and such other written
documentation regarding any such payment as available to Predix relating to an
application by Ramot for a foreign tax credit for such payment. If by law,
regulations or fiscal policy of a particular country in the Territory,
remittance of royalties in United States Dollars is restricted or forbidden,
written notice thereof shall promptly be given to Ramot, and payment of the
royalty shall be made by the deposit thereof in local currency to the credit of
Ramot in a recognized banking institution reasonably designated by Ramot by
written notice to Predix. Ramot shall be responsible for paying all income taxes
attributable to Ramot as a result of its receipt of funds hereunder, to the
extent applicable.

                  4.5.4 Late Payments. Any payments to be paid under this
Agreement that are not paid on or before the date such payments are due under
this Agreement [**************************************************************
**********************************************************************].

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                       9
<PAGE>

            4.6 REPORTS; RECORDS RETENTION; REVIEW.

                  4.6.1 Reporting. Predix undertakes to notify Ramot promptly
following the grant of a Sublicense or the execution of an agreement for the
provision of Services. Each such notification shall include a brief summary of
the financial terms of such transaction.

                  4.6.2 Reports. In addition to the reports under Section 4.5.1,
commencing with the receipt of the first Sublicense Income or Service Income,
Predix shall provide Ramot with quarterly reports setting forth all Sublicense
Income and Service Income received by Predix and its Affiliates. In addition,
within [***********] after the end of each calendar year, Predix shall furnish
Ramot with a written report on the progress of its, its Affiliate's and
Sublicensees' efforts during the prior year to develop and commercialize
Licensed Products, including without limitation research and development
efforts, efforts to obtain Regulatory Approval and marketing efforts. All
reports provided by Predix under Section 4.6.1 and Section 4.6.2 shall
[********************************************************************].

                  4.6.3 Records. Commencing as of the date of the receipt of the
first Net Sales, Sublicense Income or Service Income hereunder, Predix and its
Affiliates shall keep for at least [***********] from the end of the calendar
year to which they pertain complete and accurate records of sales by Predix or
its Affiliates, as the case may be, of each Licensed Product and of Sublicense
Income and Service Income received, in sufficient detail to allow the accuracy
of the payments hereunder to be confirmed.

                  4.6.4 Review. Subject to the other terms of this Section
4.6.4, at the request of Ramot, which shall not be made more frequently than
[*****************] during the Term, upon reasonable prior notice from Ramot,
and at the expense of Ramot, except as otherwise provided herein, Predix and its
Affiliates shall permit an independent certified public accountant selected by
Ramot and reasonably acceptable to Predix to inspect, during regular business
hours, the relevant records required to be maintained by Predix and its
Affiliates under this Section 4.6. In every case the accountant must have
previously entered into a confidentiality agreement with both Parties
substantially similar to the provisions of Article 5 and limiting the disclosure
and use of such information by such accountant to authorized representatives of
the Parties and the purposes germane to this Section 4.6. Results of any such
review shall be binding on both Parties absent manifest error. Ramot agrees to
treat the results of any such accountant's review as Confidential Information of
Predix subject to the terms of Article 5. If any review reveals a deficiency in
the calculation and/or payment of royalties by Predix, then Predix shall
promptly pay Ramot the amount remaining to be paid, and if such underpayment is
by [*******************] of the amount payable during the period under audit,
Predix shall [**********************************************************] in
connection with the review.

      5. TREATMENT OF CONFIDENTIAL INFORMATION; PUBLICATION

            5.1 Confidentiality. Commencing on the Effective Date and continuing
until the [*****************] of the expiration or earlier termination hereof,
each Party shall maintain in confidence the Confidential Information of the
other Party, shall not use or grant the use of the Confidential Information of
the other Party except as expressly permitted hereby, and

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                       10
<PAGE>

shall not disclose the Confidential Information of the other Party except on a
need-to-know basis to such Party's directors, officers and employees, and to
such Party's consultants, to the extent such disclosure is necessary in
connection with such Party's activities as expressly authorized by this
Agreement. In addition to the foregoing, Predix may disclose Confidential
Information of Ramot to any Sublicensees that are bound by restrictions on
disclosure that are at least as stringent as those set forth herein. To the
extent that disclosure to any person is authorized by this Agreement, prior to
disclosure, a Party shall obtain, or shall have obtained prior to the date of
this Agreement, written agreement of such person pursuant to which such person
is bound to hold in confidence and not disclose, use or grant the use of the
Confidential Information of the other Party except as expressly permitted under
this Agreement. Each Party shall notify the other Party promptly upon discovery
of any unauthorized use or disclosure of the other Party's Confidential
Information.

            5.2 Terms of Agreement. Neither Party shall disclose any terms or
conditions of this Agreement to any Third Party without the prior consent of the
other Party; provided, however, that a Party may disclose the terms or
conditions of this Agreement: (a) on a need-to-know basis to its legal and
financial advisors to the extent such disclosure is reasonably necessary in
connection with such Party's activities as expressly permitted by this
Agreement, and (b) to a Third Party who is subject to confidentiality
obligations similar to those set forth herein in connection with: (i) an equity
investment in or by such Party, (ii) a merger, consolidation or similar
transaction involving such Party, (iii) the negotiation of a sublicense of
rights granted hereunder or (iv) the sale of all or substantially all of the
assets of such Party. Notwithstanding the foregoing, prior to execution of this
Agreement, the Parties have agreed upon the text of one or more press releases
that describe the terms and conditions of this transaction, and each Party may
disclose such information, as modified by mutual written agreement the Parties,
without the consent of the other Party.

            5.3 Permitted Disclosures. The confidentiality obligations under
this Article 5 shall not apply to the extent that a Party is required to
disclose information by applicable law, regulation or order of a governmental
agency or a court of competent jurisdiction; provided, however, that such Party
shall provide written notice thereof to the other Party, consult with the other
Party with respect to such disclosure and provide the other Party sufficient
opportunity to object to any such disclosure or to request confidential
treatment thereof.

      6. OWNERSHIP OF TECHNOLOGY AND INVENTIONS; FILING, PROSECUTION AND
MAINTENANCE OF PATENT RIGHTS

            6.1 OWNERSHIP OF TECHNOLOGY. Subject to the terms and conditions set
forth herein, including without limitation the license granted in Section 2.1,
Ramot shall own all right, title and interest in and to any and all Licensed
Technology. No rights or licenses in or to any Technology are conveyed hereunder
by implication or estoppel or by any means other than express grant.

            6.2 OWNERSHIP OF LICENSED PRODUCTS. Predix shall own all right,
title and interest in and to any and all Licensed Products, subject to Ramot's
ownership of the underlying Licensed Technology, the terms of the license
granted herein and Predix's obligations herein, including the obligation to pay
royalties as set forth above.

            6.3 PATENT FILING, PROSECUTION AND MAINTENANCE.

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                       11
<PAGE>

                  6.3.1 Licensed Patent Rights. Ramot and Predix shall consult
each other regarding the preparation, filing and prosecution of all patent
applications, and the maintenance of all patents, included within the Licensed
Patent Rights, including, without limitation, the content, timing and
jurisdiction of the filing of such patent applications and their prosecution,
and other details. Predix shall be responsible for preparing, filing,
prosecuting, obtaining and maintaining, at its sole cost and expense, using
patent counsel reasonably acceptable to Ramot, all Licensed Patent Rights, in
the name of Ramot, with the goal of obtaining and maintaining the Licensed
Patents in a manner that will provide the maximum economic advantage and return
to the Parties under this Agreement. Predix: (i) will provide Ramot with a copy
of any proposed patent application within such Licensed Patent Rights for review
and comment reasonably in advance of filing, and (ii) will keep Ramot informed
of the status of such filing, prosecution and maintenance, including, without
limitation, by providing Ramot with copies of all communications received from
or filed in patent office(s) with respect to such filing, and by providing
Ramot, a reasonable time prior to taking or failing to take any action that
would affect the scope or validity of any such filing (including the
substantially narrowing, cancellation or abandonment of any claim(s) without
retaining the right to pursue such subject matter in a separate application, or
the failure to file or perfect the filing of any claim(s) in any country), with
prior written notice of such proposed action or inaction so that Ramot has a
reasonable opportunity to review and comment. Predix shall not take any such
action that would affect the scope of validity or any such filing without the
prior written consent of Ramot. If Predix fails to undertake the filing(s),
prosecution, protection and/or maintenance of any patent application, patent or
submission within the Licensed Patent Rights, without the prior consent of
Ramot, all claims included in such patent applications, patents and/or
submissions shall be deemed Valid Claims within the Licensed Patent Rights for
purposes of Section 1.17 until such times as the relevant patents would have
expired had they continued to their fullest term.

                  6.3.2 Other Patent Rights. Except as set forth in Section
6.3.1, each Party shall be responsible for preparing, filing, prosecuting,
obtaining and maintaining, at its sole cost, expense and discretion, all of its
own Patent Rights. Predix undertakes to notify Ramot, on an annual basis, of the
filing by or on behalf of Predix or any of its AFFILIATES of any priority patent
application relating to or covering an actual or potential Licensed Product.
Each such notification shall include a brief summary of the invention disclosed
in such application.

            6.4 NOTICE OF INFRINGEMENT. If, during the Term, either Party learns
of any actual, alleged or threatened infringement by a Third Party of any
Licensed Patent Rights, such Party shall promptly notify the other Party and
shall provide such other Party with available evidence of such infringement.

            6.5 INFRINGEMENT OF PATENT RIGHTS. Predix, after consultation with
Ramot, shall have the first right, but not the obligation and with legal counsel
of its own choice, to bring suit, or take other appropriate legal action,
against any actual, alleged or threatened infringement of the Licensed Patent
Rights. If Ramot is joined as a party plaintiff in any such suit, Ramot shall
have the right to approve or disapprove of the counsel selected by Predix to
represent Predix and Ramot, such approval not to be unreasonably withheld. The
expenses of such suit or suits that Predix elects to bring, including any
expenses of Ramot incurred in conjunction with the prosecution of such suits or
the settlement thereof, shall be paid for entirely by Predix and Predix shall
hold Ramot free, clear and harmless from and against any and all costs of such
litigation, including attorney's fees. Predix shall not compromise or settle
such litigation without

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                       12
<PAGE>

the prior written consent of Ramot, which consent shall not be unreasonably
withheld or delayed. Ramot shall have the right, at its own expense, to be
represented in any such action by Predix by counsel of Ramot's own choice. If
Predix does not file any action or proceeding against any such infringement
within three (3) months after the earlier of: (i) Predix's notice to Ramot under
Section 6.4 above, (ii) Ramot's notice to Predix under Section 6.2 above, or
(iii) a written request from Ramot to take action with respect to such
infringement, then Ramot shall have the right, but not the obligation, at its
own expense, to bring suit, or take other appropriate legal action, against such
actual, alleged or threatened infringement, with legal counsel of its own
choice, but shall not be permitted to settle any such suit without the prior
consent of Predix, which consent shall not be unreasonably withheld. Any
damages, monetary awards or other amounts recovered, whether by judgment or
settlement, pursuant to any suit, proceeding or other legal action taken under
this Section 6.3, shall be applied as follows:

                  (a) First, to reimburse the Parties for their respective costs
and expenses (including reasonable attorneys' fees and costs) incurred in
prosecuting such enforcement action; and

                  (b) Second, any amounts remaining shall be allocated as
follows: (a) if Ramot is the Party bringing such suit or proceeding or taking
such other legal action, [********************************], (b) if Predix is
the Party bringing such suit or proceeding or taking such other legal action,
[****************************], and (c) if the suit is brought jointly,
[*************************].

If a Party brings any such action or proceeding hereunder, the other Party
agrees to be joined as Party plaintiff if necessary to prosecute such action or
proceeding, and to give the Party bringing such action or proceeding reasonable
assistance and authority to file and prosecute the suit; provided, however, that
neither Party shall be required to transfer any right, title or interest in or
to any property to the other Party or any Third Party to confer standing on a
Party hereunder.

      7. REPRESENTATIONS AND WARRANTIES

            7.1 RAMOT REPRESENTATIONS. Ramot represents and warrants to Predix
that:

            (a) the execution and delivery of this Agreement and the performance
of the transactions contemplated hereby have been duly authorized by all
appropriate Ramot corporate action;

            (b) this Agreement is a legal and valid obligation binding upon
Ramot and enforceable in accordance with its terms, and the execution, delivery
and performance of this Agreement by the Parties does not conflict with any
agreement, instrument or understanding to which Ramot is a Party or by which it
is bound;

            (c) Ramot has the full right and legal capacity to grant the rights
granted to Predix hereunder;

            (d) To the best of Ramot's knowledge, the Licensed Patent Rights
have been properly filed and prosecuted and Ramot is the sole owner of the
Licensed Patent Rights;

            (e) Ramot has no actual knowledge as of the date hereof of any legal
suit or proceeding by a third party (whether threatened or filed) against Ramot
or TAU contesting the

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                       13
<PAGE>

ownership or validity of the Licensed Patent Rights, or claiming that the
practice of the Licensed Patent Rights in the manner contemplated by this
Agreement would infringe the rights of such third party;

            (f) Ramot will not grant or convey any rights or licenses to the
Licensed Technology that may limit Predix's ability to exercise the rights and
licenses granted herein to their fullest extent; and

            (g) No member of Ramot's legal staff has received notice of any
infringement or misappropriation by a Third Party of the Licensed Technology.

            7.2 PREDIX REPRESENTATIONS. Predix represents and warrants to Ramot
      that:

            (a) the execution and delivery of this Agreement and the performance
of the transactions contemplated hereby have been duly authorized by all
appropriate Predix corporate action; and

            (b) this Agreement is a legal and valid obligation binding upon
Predix and enforceable in accordance with its terms, and the execution, delivery
and performance of this Agreement by the Parties does not conflict with any
agreement, instrument or understanding to which Predix is a Party of or by which
it is bound.

            (c) Predix will comply with, and shall ensure that its Affiliates
and Sublicensees undertake to comply with, all local, state, federal, and
international laws and regulations relating to the use of the Licensed
Technology and the development, manufacture, use, license and sale of Licensed
Products.

            7.3 NO WARRANTIES.

                  7.3.1 Nothing in this Agreement is or shall be construed as:

                        (a) a warranty or representation by either Party as to
the validity or scope of any patent application or patent licensed hereunder;

                        (b) a warranty or representation that the Licensed
Technology or anything made, used, sold or otherwise disposed of under any
license granted pursuant to this Agreement is or will be free from infringement
of patents, copyrights, and other rights of third Parties.

                  7.3.2 Except as expressly set forth in this Agreement, NEITHER
PARTY MAKES ANY REPRESENTATION OR EXTENDS ANY WARRANTIES OF ANY KIND, EITHER
EXPRESS OR IMPLIED. THERE ARE NO EXPRESS OR IMPLIED WARRANTIES OF
MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, OR OF NON-INFRINGEMENT OF
ANY PATENT, COPYRIGHT, TRADEMARK, OR OTHER RIGHTS OF THIRD PARTIES, OR ANY OTHER
EXPRESS OR IMPLIED WARRANTIES.

      8. INDEMNIFICATION; INSURANCE

            8.1 INDEMNIFICATION. Predix shall indemnify, defend and hold
harmless Ramot, its Affiliates and their respective governors, directors,
officers, employees, stockholders

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                       14
<PAGE>

and agents and their respective successors, heirs and assigns (the "Ramot
Indemnitees") from and against any liability, damage, loss or expense (including
reasonable attorneys' fees and expenses of litigation) incurred by or imposed
upon such Ramot Indemnitees, or any of them, in connection with any Third Party
claims, suits, actions, demands or judgments, including, without limitation,
personal injury and product liability matters, to the extent arising out of: (a)
the development, testing, production, manufacture, supply, promotion, import,
sale or use by any person of any Software Product or Licensed Product (or any
component thereof) manufactured or sold by Predix or any Affiliate or
Sublicensee under this Agreement, (b) the use of the Licensed Technology or
practice of the Licensed Patent Rights by Predix, any of its Affiliates or any
Sublicensees, (c) any material breach of this Agreement by Predix, (d) any
breach by a Sublicensee of a Sublicense, or (e) the gross negligence or willful
misconduct on the part of Predix or any Affiliate or Sublicensee, in any such
case under this Section 8.1.1, except to the extent any of the foregoing is
caused by the negligence or willful misconduct of Ramot or a breach of this
Agreement by Ramot.

            8.2 INDEMNIFICATION PROCEDURES. In the event that any Indemnitee is
seeking indemnification under Section 8.1 above from Predix, Ramot shall notify
Predix of such claim with respect to such Indemnitee as soon as reasonably
practicable after the Ramot Indemnitee receives notice of the claim, and Ramot
(on behalf of itself and such Ramot Indemnitee) shall permit the Predix to
assume direction and control of the defense of the claim (including the right to
settle the claim solely for monetary consideration, provided that no settlement
shall be made without the consent of Ramot, which consent shall not be
unreasonably withheld) and shall cooperate as requested (at the expense of
Predix) in the defense of the claim. The indemnification obligations under
Article 8 shall not apply to any harm suffered as a direct result of any delay
in notice to Predix hereunder or to amounts paid in settlement of any claim,
demand, action or other proceeding if such settlement is effected without the
consent of Predix, which consent shall not be withheld or delayed unreasonably.
The Indemnitee, its employees and agents, shall reasonably cooperate with Predix
and its legal representatives in the investigation of any claim, demand, action
or other proceeding covered by Section 8.1.

            8.3 INSURANCE. Predix shall, at its sole cost and expense, procure
and maintain product liability insurance with respect to Licensed Products
commencing upon the First Commercial Sale of the first Licensed Product and
continuing until the termination of this Agreement. Such insurance coverage
shall be on terms that are in keeping with industry standards within the
bio-pharmaceutical industry. The insurance shall be underwritten by a reputable
insurance carrier. Ramot shall be named as an additional insured on such policy
and shall be entitled to advance notice of cancellation or expiration of such
policy. Predix shall comply with the requirements and restrictions imposed by
such insurance policy including with respect to the full and timely payment of
all premiums due thereon. Predix shall provide a copy of such insurance policy
to Ramot upon request.

      9. TERM AND TERMINATION

            9.1 TERM; EXPIRATION. The term of this Agreement shall, unless
sooner terminated in accordance with this Section 9, expire upon the expiration
of the final payment obligation under Article 4 above (the "Term"). Upon the
expiration of the Term of this Agreement, Predix shall have a fully paid-up,
irrevocable, freely transferable and sublicensable exclusive license in the
Territory under the Licensed Patent Rights and Licensed Technology, to Develop,
have Developed, make, have made, use, have used, sell, offer for sale, have
sold,

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                       15
<PAGE>

import and have imported any and all Licensed Products in the Territory for any
and all uses within the Field.

            9.2 TERMINATION RIGHTS FOR BREACH.

                  Subject to the other terms of this Agreement, this Agreement
and the rights and options granted herein may be terminated by either Party upon
any material breach by the other Party of any material obligation or condition,
effective thirty (30) days after giving written notice to the breaching Party of
such termination in the case of a payment breach and ninety (90) days after
giving written notice to the breaching Party of such termination in the case of
any other breach, which notice shall describe such breach in reasonable detail.
The foregoing notwithstanding, if such default or breach is cured or remedied or
shown to be non-existent within the aforesaid thirty (30) or ninety (90) day
period, the notice shall be automatically withdrawn and of no effect. However,
prior to giving any notice of termination for breach, the Parties shall first
attempt to resolve any disputes as to the existence of any breach as set forth
in Article 10.

            9.3 TERMINATION FOR BANKRUPTCY. In the event that either Party files
for protection under bankruptcy laws, makes an assignment for the benefit of
creditors, appoints or suffers appointment of a receiver or trustee over its
property, files a petition under any bankruptcy or insolvency act or has any
such petition filed against it which is not discharged within sixty (60) days of
the filing thereof, then the other Party may terminate this Agreement effective
immediately upon written notice to such Party.

            9.4 EFFECTS OF TERMINATION.

                  9.4.1 Termination for Predix Breach. Upon any termination of
this Agreement by Ramot under Section 9.2, as of the effective date of such
termination all relevant licenses and sublicenses granted by Ramot to Predix
hereunder shall terminate automatically. Notwithstanding the foregoing: (a) no
such termination of this Agreement shall be construed as a termination of any
valid sublicense of any Sublicensee hereunder, and thereafter each such
Sublicensee shall be considered a direct licensee of Ramot, provided that (i)
such Sublicensee is then in full compliance with all terms and conditions of its
sublicense, (ii) all accrued payments obligations to Ramot have been paid, and
(iii) such Sublicensee agrees in writing to assume all applicable obligations of
Predix under this Agreement, and (b) Predix and its Affiliates and Sublicensees
shall have the right, for [**********] or such longer time period (if any) on
which the Parties mutually agree in writing, to sell or otherwise dispose of all
Licensed Products then on hand, with royalties to be paid to Ramot on all Net
Sales of such Licensed Products as provided for in this Agreement.

                  9.4.2 Termination for Ramot Breach. Upon any termination of
this Agreement by Predix under Section 9.2, as of the effective date of such
termination, Predix thereafter automatically shall have a fully sublicensable
and transferable, fully paid up (subject to the remainder of this Section 9.4),
exclusive license in the Territory under the Licensed Patent Rights and Licensed
Technology, to Develop, have Developed, make, have made, use, have used, sell,
offer for sale, have sold, import and have imported any and all Licensed
Products in the Territory for any and all uses within the Field, provided that
Predix shall pay, [***************************************************
********************************************************************************
********************************************************************************

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                       16
<PAGE>

********] that would otherwise apply with respect to Net Sales, Sublicense
Income and Service Income under Section 4 of this Agreement.

            9.5 REMEDIES. Except as otherwise expressly set forth in this
Agreement, the termination provisions of this Article 9 are in addition to any
other relief and remedies available to either Party at law.

            9.6 SURVIVING PROVISIONS. Notwithstanding any provision herein to
the contrary, the rights and obligations of the Parties set forth in Articles 5,
7, 8 and 10 and Sections 6.1, 6.2, 9.1, 9.4, 9.5, 9.6, 11.1, 11.8, and 11.11 as
well as any rights or obligations otherwise accrued hereunder (including any
accrued payment obligations), shall survive the expiration or termination of the
Term.

      10. DISPUTE RESOLUTIONS

      10.1 DISPUTE RESOLUTION. Prior to engaging in any formal dispute
resolution with respect to any dispute, controversy or claim arising out of or
in relation to this Agreement, or the breach, termination or invalidity hereof
(each, a "Dispute"), the Chief Executive Officers of the Parties shall attempt
over a period of not less than [***********] to resolve such Dispute.

      11. MISCELLANEOUS

      11.1 GOVERNING LAW. Except as otherwise provided herein, this Agreement
shall be governed by, interpreted and construed in accordance with the laws of
the State of Israel, without regard to the conflicts of law principles thereof,
and sole jurisdiction is granted to the competent courts in Tel Aviv, Israel.

      11.2 WAIVER. No waiver by a Party hereto of any breach or default of any
of the covenants or agreements herein set forth shall be effective unless set
forth in a writing signed by the waiving Party or shall be deemed a waiver as to
any subsequent and/or similar breach or default.

      11.3 ASSIGNMENT. Neither this Agreement nor any right or obligation
hereunder may be assigned or delegated, in whole or part, by either Party
without the prior express written consent of the other; provided, however, that
either Party may, without the written consent of the other, assign this
Agreement and its rights and delegate its obligations hereunder in connection
with the transfer or sale of all or substantially all of its business, or in the
event of its merger, consolidation, change in control or similar transaction.
Any permitted assignee shall assume all obligations of its assignor under this
Agreement. Any purported assignment in violation of this Section 11.3 shall be
void.

      11.4 INDEPENDENT CONTRACTORS. The relationship of the Parties hereto is
that of independent contractors. Neither Party hereto shall be deemed to be the
agent, partner or joint venturer of the other for any purpose as a result of
this Agreement or the transactions contemplated thereby.

      11.5 FURTHER ACTIONS. Each Party agrees to execute, acknowledge and
deliver such further documents and instruments and to perform all such other
acts as may be necessary or appropriate in order to carry out the purposes and
intent of this Agreement.

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                       17
<PAGE>

      11.6 NOTICES. All requests and notices required or permitted to be given
to the Parties hereto shall be given in writing, shall expressly reference the
section(s) of this Agreement to which they pertain, and shall be delivered to
the other Party, effective on receipt, at the appropriate address as set forth
below or to such other addresses as may be designated in writing by the Parties
from time to time during the term of this Agreement.

           If to Ramot:

                  Ramot at Tel Aviv University Ltd.
                  32 Haim Levanon Street
                  POB 39296
                  Tel Aviv 61392
                  ISRAEL

                  Attn: CEO

           If to Predix:

                  Predix Pharmaceuticals
                  10K Gill Street
                  Woburn, MA 01801
                  USA
                  Attn: Chief Executive Officer

                  Copy to:

                  Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, PC
                  One Financial Center
                  Boston, MA 02111
                  USA
                  Attn: Christopher J. Denn, Esq.

      11.7 FORCE MAJEURE. Nonperformance of a Party (other than for the payment
of money) shall be excused to the extent that performance is rendered impossible
by strike, fire, earthquake, flood, governmental acts or orders or restrictions,
failure of suppliers, or any other reason where failure to perform is beyond the
reasonable control and not caused by the negligence, intentional conduct or
misconduct of the nonperforming Party; provided, however, that the nonperforming
Party shall use commercially reasonable efforts to resume performance as soon as
reasonably practicable.

      11.8 NO CONSEQUENTIAL DAMAGES. IN NO EVENT SHALL A PARTY BE LIABLE FOR
SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF THIS AGREEMENT OR
THE EXERCISE OF ITS RIGHTS HEREUNDER, INCLUDING WITHOUT LIMITATION LOST PROFITS
ARISING FROM OR RELATING TO ANY BREACH OF THIS AGREEMENT, REGARDLESS OF ANY
NOTICE OF SUCH DAMAGES.

      11.9 COMPLETE AGREEMENT. This Agreement constitutes the entire agreement
between the Parties regarding the subject matter hereof, and all prior
representations, understandings and agreements regarding the subject matter
hereof, either written or oral, expressed or implied, are

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                       18
<PAGE>

superseded and shall be and of no effect.

      11.10 HEADINGS. The captions to the several sections hereof are not a part
of this Agreement, but are included merely for convenience of reference only and
shall not affect its meaning or interpretation.

      11.11 SECTION 365(n). All licenses granted under this Agreement are deemed
to be, for purposes of Section 365(n) of the U.S. Bankruptcy Code, licenses of
right to "intellectual property" as defined in Section 101 of such Code.

      11.12 FURTHER ASSURANCES. Each Party agrees to execute, acknowledge and
deliver such further instructions, and to do all such other acts, as may be
necessary or appropriate in order to carry out the purposes and intent of this
Agreement.

      11.13 COUNTERPARTS. This Agreement may be executed simultaneously in one
or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument.

      11.14 TERMINATION OF ORIGINAL AGREEMENT. The Parties acknowledge and agree
that: (i) the Original Agreement is hereby terminated as of the Restated
Effective Date and (ii) except as provided herein, all rights, obligations and
licenses provided for under the Original Agreement shall terminate and shall be
of no further force or effect on and after the Restated Effective Date.

                  [Remainder of page intentionally left blank]

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                       19
<PAGE>
      IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed
by their duly authorized representative in two (2) originals.

<Table>
<Caption>
<S>                                                            <C>
PREDIX PHARMACEUTICALS
HOLDINGS, INC.                                                 RAMOT AT TEL AVIV UNIVERSITY LTD.

By: /s/ MICHAEL G. KAUFFMAN       /s/ CHEN SCHOR               By: /s/ ISAAC T. KOHLBERG       /s/ MENASHE KAY
    -------------------------------------------                    --------------------------------------------

Name: Michael Kauffman            Chen Schor                   Name: Isaac T. Kohlberg         Menashe Kay

Title: President and CEO CBO                                   Title: Chief Executive Officer Chief
                                                                      Operating Officer
</Table>

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

                                       20
<PAGE>

                                   EXHIBIT 1.6

                                DERIVED PRODUCTS

<TABLE>
<CAPTION>
PREDIX COMPOUNDS TARGET MINTZ LEVIN DOCKET NO. COUNTRY TITLE NAMED INVENTOR(S) APPLICATION NO. PATENT NO. FILING DATE
<S>              <C>                           <C>     <C>   <C>               <C>             <C>        <C>
[ * * * * * * * Exhibit 1.6 contains confidential material and has been omitted
                      in its entirety. * * * * * * * * * *]
</TABLE>

PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE
SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING
CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [*] DENOTES
OMISSIONS.

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