<SUBMISSION>
<ACCESSION-NUMBER>0000891554-02-000155
<TYPE>10-Q/A
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20010930
<FILING-DATE>20020115
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>BIOCRYST PHARMACEUTICALS INC
<CIK>0000882796
<ASSIGNED-SIC>2836
<IRS-NUMBER>621413174
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>10-Q/A
<ACT>34
<FILE-NUMBER>000-23186
<FILM-NUMBER>2509573
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>2190 PKWY LAKE DR
<CITY>BIRMINGHAM
<STATE>AL
<ZIP>35244
<PHONE>2054444600
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>2190 PARKWAY LAKE DR
<CITY>BIRMINGHAM
<STATE>AL
<ZIP>35244
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>10-Q/A
<SEQUENCE>1
<FILENAME>d70692_10q-a.htm
<DESCRIPTION>QUARTERLY REPORT
<TEXT>
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     <!-- Control Number: 0                                                                -->
     <!-- Rev Number:     1.0                                                              -->
     <!-- Client Name:    BioCryst Pharmaceuticals                                         -->
     <!-- Project Name:   10-Q/A                                                           -->
     <!-- Firm Name:      ADP                                                              -->
     <TITLE>Form 10-Q/A</TITLE>
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<P ALIGN=CENTER><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>UNITED STATES <BR>SECURITIES AND EXCHANGE
COMMISSION <BR>Washington, D.C. 20549  </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>FORM 10-Q/A <BR>(Amendment No. 1)</FONT></H1>


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<P ALIGN=CENTER><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>(X) QUARTERLY REPORT
UNDER SECTION 13 OR 15(d)<BR>OF THE SECURITIES EXCHANGE ACT OF 1934  </FONT></P>

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<P ALIGN=CENTER><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"><FONT SIZE="2"><B>For the quarterly
period ended September 30, 2001</B></FONT></FONT> </P>

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<P ALIGN=CENTER><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>OR  </FONT></P>

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<P ALIGN=CENTER><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>( &nbsp;&nbsp;) TRANSITION REPORT
PURSUANT TO SECTION 13 0R 15(d)<BR>OF THE SECURITIES EXCHANGE ACT OF 1934  </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>For the
transition period from ____________ to ____________. </FONT></H1>

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<P ALIGN=CENTER><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>Commission File Number
000-23186  </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>BIOCRYST
PHARMACEUTICALS, INC.</B> </FONT><BR>


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<FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Exact name of registrant as
specified in its charter) </FONT></P>

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     <TD ALIGN=CENTER WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>DELAWARE
          <BR>(State or other jurisdiction of<BR>incorporation or organization) </FONT></TD>
     <TD ALIGN=CENTER WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>62-1413174
          <BR>(I.R.S. employer identification no.) </FONT></TD>
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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2190 Parkway Lake
Drive; Birmingham, Alabama 35244 <BR>(Address and zip code
of principal executive offices)  </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(205) 444-4600 <BR>(Registrant&#146;s telephone
number, including area code)  </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>NONE <BR>(Former name, former
address and former fiscal year, if changed since last report)  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Indicate by check mark
whether the registrant (1) has filed all reports required to be filed by Section
13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12
months (or for such shorter period that the registrant was required to file such
reports), and (2) has been subject to such filing requirements for the past 90
days:  </FONT></P>

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<P ALIGN=CENTER><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>Yes _X_ No___  </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Indicate the number of
shares outstanding of each of the issuer&#146;s classes of common stock, as of
the latest practicable date: 17,592,160 shares of the Company&#146;s Common
Stock, $.01 par value, were outstanding as of October 31, 2001.  </FONT></P>


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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Explanatory
Note</FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>This amendment to the
Form 10-Q for the quarterly period ended September 30, 2001, is being filed
solely to amend Part II, Item 6(a), Exhibit 10.9, the Termination Agreement
between the Registrant and The R. W. Johnson Pharmaceutical Research Institute
and Ortho-McNeil Pharmaceutical, Inc., dated September 21, 2001 (with certain
confidential information deleted). Section 4 of the Termination Agreement
includes the name &#147;peramivir&#148; as the adopted name for the
neuraminidase inhibitor RWJ-270201, for which confidential treatment was
requested in the original 10-Q of the Registrant.</B> </FONT></P>


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<A NAME="PART_II._OTHER_INFORMATION"></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PART II.
OTHER INFORMATION</FONT></H1>



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<H2 ALIGN=LEFT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>Item 6. Exhibits and
Reports on Form 8-K: </FONT></H2>

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<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
<TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>a.  </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibits: </FONT></TD>
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<TD ALIGN=CENTER WIDTH=20%><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>Number</B> </FONT> </FONT></TD>
<TD ALIGN=CENTER WIDTH=80%><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>Description</B> </FONT> </FONT></TD>
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<TD WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=6% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3.1*   </FONT></TD>
<TD WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
<TD WIDTH=82%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Composite
Certificate of Incorporation of Registrant. Incorporated by reference to Exhibit 3.1 to
the Company&#146;s Form 10-Q for the second quarter ending June 30, 1995 dated <BR>August 11,
1995.   </FONT></TD>
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<TD WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=6% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3.2* </FONT></TD>
<TD WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
<TD WIDTH=82%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Bylaws
of Registrant. Incorporated by reference to Exhibit 3.1 to the Company&#146;s Form <BR>10-Q
for the second quarter ending June 30, 1995 dated August 11, 1995.   </FONT></TD>
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<TD WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=6% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.1* </FONT></TD>
<TD WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
<TD WIDTH=82%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>See
Exhibits 3.1 and 3.2 for provisions of the Composite Certificate of Incorporation and
Bylaws of the Registrant defining rights of holders of Common Stock of the Registrant.   </FONT></TD>
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<TD WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=6% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.1* </FONT></TD>
<TD WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
<TD WIDTH=82%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1991
Stock Option Plan, as amended and restated as of March 6, 2000. Incorporated by reference
to Exhibit 99.1 to the Company&#146;s Form S-8 Registration Statement dated June 16, 2000
(Registration No. 333-39484).   </FONT></TD>
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<TD WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=6% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.2* </FONT></TD>
<TD WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
<TD WIDTH=82%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Employment
Agreement dated December 27, 1999 between the Registrant and Charles&nbsp;E. Bugg, Ph.D.
Incorporated by reference to Exhibit 10.10 to the Company&#146;s Form 10-K for the year
ending December 31, 1999 dated March 24, 2000.   </FONT></TD>
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<TD WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=6% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.3*   </FONT></TD>
<TD WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
<TD WIDTH=82%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>License
Agreement dated April 15, 1993 between Ciba-Geigy Corporation (now merged into Novartis)
and the Registrant. Incorporated by reference to Exhibit 10.40 to the Company&#146;s Form S-1
Registration Statement (Registration No. 33-73868).   </FONT></TD>
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<TD WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=6% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.4* </FONT></TD>
<TD WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
<TD WIDTH=82%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Employee
Stock Purchase Plan. Incorporated by reference to Exhibit 99.4 to the Company&#146;s Form S-8
Registration Statement (Registration No. 33-95062).   </FONT></TD>
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<TD WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=6% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.5* </FONT></TD>
<TD WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
<TD WIDTH=82%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>License
Agreement dated as of September 14, 1998 between Registrant and The R.W. Johnson
Pharmaceutical Research Institute and Ortho-McNeil Pharmaceutical, Inc. Incorporated by
reference to Exhibit 10.23 to the Company&#146;s Form 10-Q for the third quarter ending
September 30, 1998 dated November 10, 1998.   </FONT></TD>
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<TD WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=6% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.6* </FONT></TD>
<TD WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
<TD WIDTH=82%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Stock
Purchase Agreement dated as of September 14, 1998 between Registrant and Johnson &amp;Johnson
Development Corporation. Incorporated by reference to Exhibit 10.24 to the Company&#146;s
Form 10-Q for the third quarter ending September 30, 1998 dated November 10, 1998.   </FONT></TD>
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<TD WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=6% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.7* </FONT></TD>
<TD WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
<TD WIDTH=82%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Stockholder&#146;s
Agreement dated as of September 14, 1998 between Registrant and Johnson &amp;Johnson
Development Corporation. Incorporated by reference to Exhibit 10.25 to the Company&#146;s
Form 10-Q for the third quarter ending September 30, 1998 dated November 10, 1998.   </FONT></TD>
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<TD WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=6% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.8* </FONT></TD>
<TD WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
<TD WIDTH=82%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Warehouse
Lease dated July 12, 2000 between RBP, LLC an Alabama Limited Liability Company and the
Registrant for office/warehouse space. Incorporated by reference to Exhibit 10.8 to the
Company&#146;s Form 10-Q for the second quarter ending June 30, 2000 dated August 8,
2000.   </FONT></TD>
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<TD WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=6% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.9 </FONT></TD>
<TD WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
<TD WIDTH=82%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Termination  Agreement
dated as of September  21, 2001 between  Registrant  and The R.W. Johnson  Pharmaceutical
Research Institute and Ortho-McNeil  Pharmaceutical,  Inc. (with certain confidential
information deleted).  </FONT></TD>
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<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>* </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Previously
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<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>b. </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Reports
on Form 8-K: <BR>None</FONT></TD>
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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURES </FONT></H1>

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<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.  </FONT></P>

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     <TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
     <TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>BIOCRYST PHARMACEUTICALS, INC. </FONT></TD>
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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;<BR><BR><BR> </FONT></TD>
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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date: January 15, 2002 </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>/s/ Charles E. Bugg
     <BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
     Charles E. Bugg<BR>Chairman and Chief Executive Officer </FONT></TD>
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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;<BR><BR><BR> </FONT></TD>
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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date: January 15, 2002 </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>/s/ W. Randall Pittman
     <BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
     W. Randall Pittman<BR>Chief Financial Officer and <BR>Chief  Accounting Officer </FONT></TD>
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<H2 ALIGN=RIGHT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>EXHIBIT 10.9</FONT></H2>

<!-- MARKER FORMAT-SHEET="Head Minor" -->
<H2 ALIGN=LEFT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>CONFIDENTIAL TREATMENT
HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT PURSUANT TO 17 C.F.R. &sect;&sect; 200.80(b)(4),
200.83, 230.406 and 240.24b-2.</FONT></H2>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>THIS
TERMINATION AGREEMENT</B> (the &#147;Agreement&#148;), dated as of September 21,
2001 (the &#147;Effective Date&#148;), is hereby entered into by and between
BIOCRYST PHARMACEUTICALS, INC., a Delaware corporation having its principal
place of business at 2190 Parkway Lake Drive, Birmingham, Alabama 35244
(hereinafter referred to as &#147;BIOCRYST&#148;) and ORTHO-McNEIL
PHARMACEUTICAL, INC., a Delaware corporation having its principal office at U.S.
Route 202, Raritan, NJ 08869 and THE R. W. JOHNSON PHARMACEUTICAL RESEARCH
INSTITUTE, a division of ORTHO-McNEIL PHARMACEUTICAL, INC., having its principal
place of business at U.S. Route 202, Raritan, NJ 08869 (hereinafter collectively
referred to as &#147;ORTHO&#148;). BIOCRYST and ORTHO are sometimes referred to
herein individually as a &#147;Party&#148; and collectively as the
&#147;Parties&#148; and all references to BIOCRYST and ORTHO shall include their
respective Affiliates (hereinafter defined), where appropriate under the terms
of this Agreement. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major 10" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>W I T N E S
S E T H</FONT></H1>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>,
BIOCRYST and ORTHO previously entered into a license agreement dated September
14, 1998 (the &#147;License Agreement&#148;); </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>,
On April 27, 2001 pursuant to Section 12.1 of the License Agreement, ORTHO
provided notice to BIOCRYST of its election to terminate the License Agreement,
with such termination effective as of the August 27, 2001, and the parties, by
letter agreement, subsequently extended the effective date of termination until
the Effective Date; and, </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>,
the Parties desire to clarify the rights and responsibilities of each Party in
respect of such termination in order to facilitate and expedite the transfer to
BIOCRYST of all activities under the License Agreement related to the
development, manufacture and marketing of a Neuraminidase Inhibitor Product
(collectively, the &#147;Development Program&#148;). </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>NOW,
THEREFORE</B>, in consideration of the foregoing premises, and the mutual
promises, covenants and agreement hereinafter set forth, the receipt and
sufficiency of which is hereby acknowledged, both Parties to this Agreement
hereby mutually agree as follows: </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor" -->
<H2 ALIGN=LEFT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>SECTION 1.&nbsp;&nbsp;DEFINITIONS</FONT></H2>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capitalized
terms used in this Agreement shall have the meanings set forth in the License Agreement
unless otherwise defined in this Agreement or unless the context clearly indicates to the
contrary: </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&#147;Agreement&#148; shall mean this Termination Agreement. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&#147;Clinical and Clinical Support Studies&#148; shall mean any and all scientific
evaluations of neuraminidase inhibitors, including Neuraminidase Inhibitor Products,
performed in connection with the Development Program, and all related contracts, data and
materials arising in connection therewith, including but not limited to the clinical
trials, clinical support studies and the other items set forth on Schedule A, attached
hereto.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&#147;Contracts&#148; shall mean the contracts set forth on Schedule B, attached hereto. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&#147;Data&#148; shall mean all data, notes, databases and information in any tangible or
intangible form, including but not limited to paper, electronic and magnetic media,
arising out of or related to the Development Program, including but not limited to that
(i) arising out of or related to Clinical and Clinical Support Studies, (ii) underlying
or supporting the Regulatory Filings; (iii) required in order to maintain the integrity
of New Drug Application files as required by law, rule or regulation, and (iv) which is
set forth on Schedule D, attached hereto.  </FONT></P>

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<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&#147;Domain Names&#148; shall mean the Internet domain names set forth in the Trademark
Assignment Agreement, attached hereto as Schedule F.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&#147;Drug Substance&#148; shall mean the approximately [***]<SUP>1</SUP> of GMP grade
neuraminidase inhibitor drug substance (manufactured and maintained in accordance with
GMP requirements), approximately [***] of which has been manufactured according to the
final synthesis method, all of which has been manufactured by ORTHO during the term of
the License Agreement and which is being stored at ORTHO&#146;s facilities in Spring
House, Pennsylvania as of the Effective Date.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&#147;Drug Tablets&#148; shall mean the drug tablets specified in Schedule C, attached
hereto, including both placebos and tablets comprised of the neuraminidase inhibitor
manufactured by ORTHO or its Affiliates.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&#147;License Agreement Effective Date&#148; shall mean the effective date of the License
Agreement, September 14, 1998.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&#147;Materials&#148; shall mean those tangible materials generated by, purchased by or
allocated to the Development Program by ORTHO, its contractors and agents as set forth on
Schedule C.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&#147;Purchase Order&#148; shall have the meaning set forth in Section 9.2. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&#147;Regulatory Filings&#148; shall mean all filings with regulatory agencies,
departments, bureaus or other government entities, made in connection with the
Development Program by ORTHO, its agent and contractors in order to allow ORTHO to market
or sell a Neuraminidase Inhibitor Product anywhere in the world, including but not
limited to those regulatory filings set forth on Schedule E, attached hereto.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&#147;Trademarks&#148; shall mean the trademarks set forth in the Trademark Assignment
Agreement, attached hereto as Schedule F.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor" -->
<H2 ALIGN=LEFT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>SECTION 2. TERMINATION
OF LICENSE AGREEMENT</FONT></H2>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Parties hereby confirm that the License Agreement is hereby terminated in its
entirety pursuant to Section 12.1 of the License Agreement, with such termination
effective as of the Effective Date.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Parties hereby confirm and agree that all provisions, rights and obligations which
survive termination of the License Agreement pursuant to the terms of the License
Agreement shall continue to survive, except for Article 26 of the License Agreement which
the Parties hereby agree shall not survive. All surviving provisions in the License
Agreement are hereby supplemented by the terms of this Agreement.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor" -->
<H2 ALIGN=LEFT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>SECTION 3.
PATENTS AND INVENTIONS</FONT></H2>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
ORTHO hereby acknowledges and agrees that (i) all of its rights to the Existing
Know-How, Improvements, Existing Patents, and Improvement Patents which arose by
virtue of the License Agreement are terminated; and (ii) BIOCRYST is and shall
be the exclusive owner of all right, title and interest in and to the Existing
Know-How, Improvements, Existing Patents, and Improvement Patents. To the extent
necessary to effectuate the foregoing, ORTHO hereby assigns to BIOCRYST any and
all right, title and interest throughout the world that ORTHO may have in and to
the Existing Know-How, Improvements, Existing Patents, and Improvement Patents. </FONT></P>


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<HR SIZE=1 NOSHADE WIDTH=15% ALIGN=LEFT>

<!-- MARKER FORMAT-SHEET="Para Flush 10" -->
<FONT FACE="Times New Roman, Times, Serif" SIZE=2><SUP>1</SUP>*** Information omitted
and filed separately with the Commission pursuant to 17 C.F.R. &sect;&sect; 200.80(b)(4), 200.83,
230.406, and 240.24b-2. </FONT>



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<P ALIGN=CENTER><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>4 </FONT></P>

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<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
ORTHO hereby acknowledges and agrees that (i) all of its rights to the Joint
Inventions and Joint Patents by virtue of the License Agreement are terminated;
and (ii) BIOCRYST is and shall be the exclusive owner of all right, title and
interest in and to the Joint Inventions and Joint Patents. To the extent
necessary to effectuate the foregoing, ORTHO hereby assigns to BIOCRYST all of
ORTHO&#146;s right, title and interest throughout the world in and to the Joint
Inventions and the Joint Patents, including but not limited to the Joint
Inventions and Joint Patents set forth on Schedule G, attached hereto. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
BIOCRYST hereby grants to ORTHO a royalty-free, perpetual, non-sublicenseable,
non-transferable, fully paid-up limited license to use the manufacturing process
claimed in the patent application PCT/US00/15969, all national filings thereof,
and any continuations or divisionals reissues or re-examinations of the
foregoing, solely for ORTHO&#146;s internal business purposes. For purposes of
clarity, internal business purposes shall not include performance of such
processes for any third party or supply of the product of the process to any
third party; however, internal purposes shall include sale of ORTHO products
which are derived from the use of the processes, but which are materially
changed from the product of the process. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor" -->
<H2 ALIGN=LEFT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>SECTION 4.
TRADEMARKS, DOMAIN NAMES AND GENERIC NAME</FONT></H2>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Parties hereby acknowledge that as of the Effective Date and pursuant to the
assignment agreement attached hereto as Schedule F (the &#147;Trademark
Assignment&#148;), ORTHO has assigned to BIOCRYST, at BIOCRYST&#146;s expense,
all right, title and interest in and to the Trademarks and Domain Names and the
applications or registrations therefor, together with the goodwill of the
business symbolized by the Trademarks and Domain Names. The Trademark Assignment
includes the right to sue and recover damages for past and future infringements
of ORTHO&#146;s rights in the Trademarks and the Domain Names and to bring any
proceeding in the United States Patent and Trademark Office or any equivalent
agency in any other country for cancellation or opposition or other proceeding
in connection with the Trademarks and the Domain Names. The right, title and
interest is to be held and enjoyed by BIOCRYST and BIOCRYST&#146;s successors
and assigns as fully and exclusively as it would have been held and enjoyed by
ORTHO had this assignment not been made. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Parties acknowledge that the USAN Council has adopted &#147;peramivir&#148; as the
United States Adopted Name for the neuraminidase inhibitor RWJ-270201 for publication in
the USP Dictionary of USAN and International Nonproprietary Names. ORTHO agrees to
provide BIOCRYST with reasonable assistance in updating such publication, or as other
otherwise reasonably requested by BIOCRYST in relation to the use and maintenance of
peramivir as a nonproprietary name. BIOCRYST agrees to bear ORTHO&#146;s reasonable and
actual out-of-pocket costs related thereto.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor" -->
<H2 ALIGN=LEFT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>SECTION 5.
CONTRACTS</FONT></H2>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Excepting
only the Excluded Contract Liabilities (defined below), ORTHO hereby assigns and
transfers to BIOCRYST all of ORTHO&#146;s right, title and interest in and to, and obligations
under, the Contracts. BIOCRYST hereby assumes all of the obligations of ORTHO under the
Contracts arising from and after the Effective Date, and agrees to make any payments,
perform all covenants, stipulations, agreements, and obligations under the Contracts
accruing after the Effective Date. In no event, however, shall BIOCRYST be deemed to have
assumed, with respect to the Contracts, (i) any obligation to perform which accrued prior
to the Effective Date, (ii) any financial obligations, including obligations to make
payments or reimburse expenses, which accrued prior to the Effective Date; (iii) any
liabilities arising out of the actions or inactions of ORTHO, its agents and contractors;
or (iv) any liability or obligation attributable to ORTHO&#146;s (or its agents&#146; or
contractors&#146;) breach of any provision of the Contracts or any other agreements with any
third parties, ((i) through (iv) shall be collectively referred to as the &#147;Excluded
Contract Liabilities&#148;). </FONT></P>

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<P ALIGN=CENTER><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>5 </FONT></P>

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<!-- MARKER FORMAT-SHEET="Head Minor" -->
<A NAME="SECTION_6._CLINICAL_AND_CLINICAL_SUPPORT_STUDIES_DATA_AND_MATERIALS"></A>
<H2 ALIGN=LEFT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>SECTION 6.
CLINICAL AND CLINICAL SUPPORT STUDIES, DATA AND MATERIALS</FONT></H2>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Excepting
only the Excluded Development Program Liabilities (defined below), ORTHO hereby assigns
to BIOCRYST any and all right, title and interest throughout the world that ORTHO may
have in and to the Clinical and Clinical Support Studies, Data and Materials. In no
event, however, shall BIOCRYST be deemed to have assumed, with respect to the Clinical
and Clinical Support Studies, Data and Materials, (i) any obligation to perform which
accrued prior to the Effective Date, (ii) any financial obligations, including
obligations to make payments or reimburse expenses, which accrued prior to the Effective
Date; (iii) any liabilities arising out of the actions or inactions of ORTHO its agents
and contractors or arising out of the infringement of any third party intellectual
property rights by ORTHO, its agents and contractors; or (iv) any liability or obligation
attributable to ORTHO&#146;s (or its agents&#146; or contractors&#146;) breach of any agreements with
any third parties, ((i) through (iv) shall be collectively referred to as the &#147;Excluded
Development Program Liabilities&#148;). </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor" -->
<A NAME="SECTION_7._REGULATORY_FILINGS"></A>
<H2 ALIGN=LEFT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>SECTION 7.
REGULATORY FILINGS</FONT></H2>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Excepting
only the Excluded Regulatory Liabilities (defined below), ORTHO hereby assigns to
BIOCRYST any and all right, title and interest throughout the world that ORTHO may have
in and to the Regulatory Filings. In no event, however, shall BIOCRYST be deemed to have
assumed, with respect to the Regulatory Filings, (i) any obligation to perform which
accrued prior to the Effective Date, (ii) any financial obligations, including
obligations to make payments or reimburse expenses, which accrued prior to the Effective
Date; (iii) any liabilities arising out of the actions or in actions of ORTHO, its agents
and contractors or arising out of the infringement of any third party intellectual
property rights by ORTHO, its agents and contractors; or (iv) any liability or obligation
attributable to ORTHO&#146;s (or its agents&#146; or contractors&#146;) breach of any agreements with
any third parties; or (v) any liabilities attributable to any failure of ORTHO (or its
agents or contractors) to comply with any applicable laws, regulations or rules,
(collectively, the &#147;Excluded Regulatory Liabilities&#148;). </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor" -->
<A NAME="SECTION_8._CONFIDENTIALITY"></A>
<H2 ALIGN=LEFT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>SECTION 8.
CONFIDENTIALITY</FONT></H2>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Confidentiality provisions set forth in Article 6 of the License Agreement
are hereby incorporated into this Agreement by reference as if fully set forth
herein, and are hereby extended to cover all information transmitted by either
Party to the other in furtherance of either Party&#146;s obligations under this
Agreement. The parties hereby agree that for confidential information
transmitted pursuant to this Agreement the Parties&#146; confidentiality
obligations shall remain in effect for five (5) years from the date of each such
transmission. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Parties hereby understand and agree that ORTHO may keep copies of the Data, Materials
and Regulatory Filings and such items reasonably related thereto, solely for archival and
regulatory or legal compliance purposes.  </FONT></P>

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<P ALIGN=CENTER><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>6 </FONT></P>

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<!-- MARKER FORMAT-SHEET="Head Minor" -->
<A NAME="SECTION_9._DRUG_SUBSTANCE"></A>
<H2 ALIGN=LEFT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>SECTION 9.
DRUG SUBSTANCE</FONT></H2>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
ORTHO hereby agrees to maintain the Drug Substance, as specified in Schedule C,
and to sell to BIOCRYST or its agents or designee(s) (BIOCRYST, its agents and
designees shall be collectively referred to in this Section 9 as
&#147;BIOCRYST&#148;) Drug Substance as requested by BIOCRYST upon the terms and
conditions set forth herein. The provisions of this Section 9 shall apply until
the earlier of (i) such time that all Drug Substance has been purchased from
ORTHO or (ii) August 31, 2002. ORTHO shall not otherwise use the Drug Substance
for itself or on behalf of a Third Party, nor shall it sell the Drug Substance
to any Third Party. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
ORTHO agrees to supply BIOCRYST with such quantities of Drug Substance as
BIOCRYST may order by issuing a &#147;Purchase Order&#148; to ORTHO. ORTHO shall
comply with the terms set forth on each Purchase Order. Each Purchase Order will
be substantially in the form of Schedule H, attached hereto, which further sets
forth the terms and conditions that shall govern the purchases of Drug
Substance. In the event of a conflict between the terms of the Purchase Order
and the terms of this Agreement, this Agreement shall prevail. Purchase Orders
shall be delivered to ORTHO via fax, electronically or by any other mutually
agreeable method. ORTHO hereby agrees to fully cooperate with BIOCRYST in
supplying such Drug Substance to BIOCRYST, and agrees to promptly notify
BIOCRYST of any deficiencies in a Purchase Order and of any and all events that
would prevent ORTHO from timely or completely fulfilling any Purchase Order. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Until the earlier of (a) such time that all Drug Substance has been purchased
from ORTHO or (b) August 31, 2002, ORTHO agrees to store the Drug Substance in
its facilities located in Springhouse, PA in a controlled environment (with
respect to temperature, humidity and otherwise) so as to prevent degradation and
contamination of the Drug Substance to the fullest extent possible and as
otherwise required by the FDA or other law, rule, regulation or standards. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
BIOCRYST shall pay to ORTHO [***]<SUP>2</SUP> per kilogram of Drug Substance
delivered by ORTHO pursuant to a Purchase Order. ORTHO&#146;s right to payment
for delivery of Drug Substance pursuant to a Purchase Order shall accrue upon
delivery of the Drug Substance, however, BIOCRYST shall not be required to make
payment in respect of such delivered Drug Substance unless and until BIOCRYST
enters into an agreement with a third party for such third party to develop and
market a Neuraminidase Inhibitor Product, at which time all accrued amounts
shall become due and payable within 60 days. Thereafter, accrued payments shall
be due and payable within thirty (30) days of receipt by BIOCRYST of a correct
and undisputed invoice from ORTHO. BIOCRYST agrees to provide ORTHO with prompt
notice of its entering into an agreement with a third party for such third party
to develop and market a Neuraminidase Inhibitor Product. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
BIOCRYST shall have the right to credit its out-of-pocket expenses related to
testing of the Drug Substance transferred or to be transferred to BIOCRYST
pursuant to this Agreement against the amounts payable to ORTHO pursuant to
Section 9.4, above. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
BIOCRYST agrees to bear the reasonable costs of shipping Drug Substance from
storage to BIOCRYST. BIOCRYST agrees to pay any sales tax or other state, city
or Federal taxes related to the purchase of Drug Substance, other than taxes
based on the income or real property of ORTHO. Such shipping costs and taxes
shall be set forth on each invoice and shall be due and payable as set forth in
Section 9.4, above. </FONT></P>

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<HR SIZE=1 NOSHADE WIDTH=15% ALIGN=LEFT>

<!-- MARKER FORMAT-SHEET="Para Flush 10" -->
<FONT FACE="Times New Roman, Times, Serif" SIZE=2><SUP>2</SUP>*** Information omitted
and filed separately with the Commission pursuant to 17 C.F.R.&sect;&sect; 200.80(b)(4), 200.83,
230.406, and 240.24b-2. </FONT>



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<P ALIGN=CENTER><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>7 </FONT></P>

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<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Notwithstanding anything to the Contrary in this Agreement, ORTHO agrees to
provide BIOCRYST, free of charge and promptly upon BIOCRYST&#146;s request with: </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
such amounts of Drug Substance as BIOCRYST deems reasonably necessary in order
to complete the clinical studies with the designations PHI 026, PHI 030, and
TX003 and such amounts of the Drug Substance for carcinogenicity studies, animal
studies and QA as referred to in item number 19 of Schedule C-5: and, </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
reasonable amount of Drug Substance for BIOCRYST&#146;S own use as laboratory reference
material and for BIOCRYST&#146;S internal research purposes. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor" -->
<A NAME="SECTION_10._PAYMENT_PROVISIONS"></A>
<H2 ALIGN=LEFT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>SECTION 10.
PAYMENT PROVISIONS</FONT></H2>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
parties acknowledge and agree that as of the Effective Date, each Party is in complete
satisfaction of all of its financial obligations to the other in connection with the
termination of the License Agreement and the transfer to BIOCRYST of the Development
Program. Except as explicitly provided for in this Agreement, neither Party shall be
entitled to seek any further fees, expenses or reimbursements from the other in
connection with the termination of the License Agreement and the transfer to BIOCRYST of
the Development Program including, but not limited to, all inventions, patents,
trademarks, clinical trials and support studies, data, materials, contracts and
regulatory filings. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor" -->
<A NAME="SECTION_11._REPRESENTATIONS_AND_WARRANTIES"></A>
<H2 ALIGN=LEFT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>SECTION 11.
REPRESENTATIONS AND WARRANTIES</FONT></H2>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Each Party hereby represents and warrants that it is a corporation duly
organized, validly existing and in good standing under the laws of the state of
Delaware and has full organizational power and authority to enter into and
perform this Agreement, and to carry out the transactions contemplated under
this Agreement. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
ORTHO hereby represents and warrants that (i) the execution, delivery and
performance by ORTHO of this Agreement, and the consummation by ORTHO of the
transactions contemplated herein, have been duly authorized by all requisite
organizational action; (ii) this Agreement and all of the obligations entered
into and undertaken in connection with the transactions contemplated herein to
which ORTHO is a party constitute, or will constitute upon the execution of such
agreements, the valid and binding obligations of ORTHO enforceable in accordance
with their respective terms, and (iii) the execution of and performance of the
transactions contemplated by this Agreement and compliance with its provisions
by ORTHO will not violate any provision of applicable law and will not conflict
with or result in any breach of any of the terms, conditions or provisions of,
or constitute a default under, or require a consent or waiver under,
ORTHO&#146;s organizational documents or any indenture, lease, agreement or
other instrument to which ORTHO is a party or by which it or any of its
properties is bound, or any decree, judgment, order, statute, rule or regulation
applicable to ORTHO. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
ORTHO hereby represents and warrants that: (i) it has made diligent efforts to
transfer to BIOCRYST (and will in the future) all Regulatory Filings, Clinical
and Clinical Support Studies, Data and Materials, according to the time
schedules set forth in Schedules E, A, D and C, respectively and should
additional items related to the foregoing be discovered by ORTHO or otherwise,
ORTHO will use diligent efforts to transfer such items to BIOCRYST and otherwise
assist BIOCRYST in connection therewith; (ii) it has filed all letters and other
documents with the FDA (and all foreign equivalents) in order to effect a
transfer of the Regulatory Filings to BIOCRYST; (iii) the Regulatory Filings,
Clinical and Clinical Support Studies, Data and Materials transferred to
BIOCRYST include all Regulatory Filings, Clinical and Clinical Support Studies,
Data and Materials initiated, conducted or generated in the Development Program;
and, (iv) it has or will otherwise fully comply with Article 14 of the License
Agreement together with all related time schedules set forth in this Agreement
and the Schedules hereto. </FONT></P>

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<P ALIGN=CENTER><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>8 </FONT></P>

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<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
ORTHO hereby represents and warrants that it has the full power and authority to
assign to BIOCRYST all right title and interest in and to, and obligations
under, the Regulatory Filings, Clinical and Clinical Support Studies, Data and
Materials. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
ORTHO hereby represents and warrants that, to the best of its knowledge, and
except for the interests of BIOCRYST, it has the full power and authority to
assign to BIOCRYST all right title and interest in and to the Joint Inventions,
Joint Patents, Existing Know-How, Existing Patents, Improvements and Improvement
Patents free and clear of all liens, claims and encumbrances of any nature.
ORTHO further represents and warrants that it has not granted and will not grant
any right to any Third Party in or to the Joint Inventions, Joint Patents,
Existing Know-How, Existing Patents, Improvements and Improvement Patents. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
ORTHO hereby represents and warrants (i) that it has the full power and
authority to assign to BIOCRYST all right, title and interest in and to, and
obligations under, the Contracts, (ii) that it has satisfied all financial
obligations under, and all liabilities arising out of, the Contracts which
accrued prior to the Effective Date, and (iii) that it is not in breach of any
of the Contracts. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
ORTHO hereby represents and warrants that it has complied and in the future will
continue to comply with all applicable laws, rules and regulations in connection
with its, or its agents and contractors, conduct of the Development Program. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
ORTHO hereby represents and warrants that there is no threatened or pending
litigation related to the Development Program including but not limited to the
Licensed Products, the Contracts and the Clinical and Clinical Support Studies. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
ORTHO hereby represents that all Drug Substance and other drug materials
transferred to BIOCRYST hereunder and in connection with the termination of the
License Agreement and the transfer to BIOCRYST of the Development Program at the
time of transfer to BIOCRYST that are labeled for use in human clinical trials,
pursuant to Schedule C, and not labeled for laboratory use or otherwise shipped
under quarantine pursuant to Schedule C, met (or will meet) all applicable FDA
requirements and were approved to be administered to humans in connection with
clinical trials. However, it is understood that, pursuant to Schedule C some
Drug Substance may be shipped to BIOCRYST in quarantine status. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
THE EXPRESS REPRESENTATIONS AND WARRANTIES STATED IN THIS ARTICLE 11 ARE IN LIEU
OF ALL OTHER REPRESENTATIONS AND WARRANTIES, EXPRESS OR IMPLIED, INCLUDING
WITHOUT LIMITATION, THE WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A
PARTICULAR PURPOSE. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor" -->
<A NAME="SECTION_12._INDEMNIFICATION"></A>
<H2 ALIGN=LEFT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>SECTION 12.
INDEMNIFICATION</FONT></H2>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
BIOCRYST agrees to indemnify, defend and hold ORTHO and its directors, officers,
employees and agents (the &#147;ORTHO Indemnitees&#148;) harmless from and
against any losses, costs, claims, damages, liabilities or expenses (including
without limitation, fees and disbursements of counsel incurred by ORTHO
Indemnitees in any action or proceeding between ORTHO and ORTHO Indemnitees and
ORTHO Indemnitees and any third party or otherwise) (collectively,
&#147;Liabilities&#148;) arising out of, or in connection with Third Party
claims relating to: (i) any breach by BIOCRYST of the confidentiality provisions
of this Agreement, (ii) personal injury or other liability, which occurs after
the Effective Date, to a participant in any clinical trial conducted by BIOCRYST
of a neuraminidase inhibitor which was the subject of the Development Program;
(iii) Liabilities, accruing after the Effective Date based upon BIOCRYST&#146;S
or its agents or contractor&#146;s, use, sale, distribution or marketing of any
neuraminidase inhibitor which was the subject of the Development Program; (iv)
BIOCRYST&#146;s failure to comply with any law, regulation or rule; and, (v) the
gross negligence or intentional misconduct of BIOCRYST. </FONT></P>

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<P ALIGN=CENTER><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>9 </FONT></P>

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<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
ORTHO agrees to indemnify, defend and hold BIOCRYST and its directors, officers,
employees and agents (the &#147;BIOCRYST Indemnitees&#148;) harmless from and
against any losses, costs, claims, damages, liabilities or expense (including
without limitation, fees and disbursements of counsel incurred by BIOCRYST
Indemnitees in any action or proceeding between ORTHO and BIOCRYST Indemnitees
and BIOCRYST Indemnitees and any third party or otherwise) (collectively,
&#147;Liabilities&#148;) arising out of, or in connection with Third Party
claims relating to: (i) the Development Program prior to the Effective Date;
(ii) any breach by ORTHO of its representations and warranties under this
Agreement; (iii) any breach by ORTHO of the confidentiality provisions of this
Agreement, (iv) any breach by ORTHO in the performance or observation of any
covenant, agreement, obligation or provision in any of the Contracts to be
performed or observed by ORTHO, (v) the Clinical and Clinical Support Studies
prior to the Effective Date, (vi) ORTHO&#146;s failure to comply with any law,
regulation or rule, (vii) the administration of Drug Tablets, Drug Substance or
any other drug tablets manufactured by ORTHO from Drug Substance, to humans, to
the extent that such Liabilities are attributable to any failure of ORTHO in
properly manufacturing or storing the foregoing, or any failure of ORTHO to meet
any and all requirements of the FDA with respect to manufacture or storage of
the foregoing, and (viii) the negligence or intentional misconduct of ORTHO. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An indemnitee that intends to claim indemnification under this Agreement shall
promptly notify indemnifying party of any claim, demand, action or other
proceeding for which the Indemnitee intends to claim such indemnification, and
the indemnifying party shall have the right to participate in, and, to the
extent the indemnifying party so desires, to assume sole control of the defense
thereof with counsel selected by the indemnifying party; provided, however, that
the Indemnitee shall have the absolute right to retain its own counsel, with the
fees and expenses to be paid by the Indemnitee. The indemnity obligations under
this Agreement shall not apply to amounts paid in settlement of any loss, claim,
damage, liability or action if such settlement is effected without the consent
of the indemnifying party, which consent shall not be unreasonably withheld or
delayed. The Indemnitee, its employees and agents, shall cooperate fully with
the indemnifying party and its legal representatives in the investigation of any
action, claim or liability covered by an indemnification from the indemnifying
party. The Indemnifying party shall not, without the prior written consent of
the Indemnitee, effect any settlement of any pending or threatened action, suit
or proceeding in respect of which any Indemnitee is or could have been a party
and indemnity could have been sought hereunder by such Indemnitee, unless such
settlement includes an unconditional release of such Indemnitee from all
liability on claims that are the subject matter of such action, suit or
proceeding. </FONT></P>

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<A NAME="SECTION_13._FURTHER_ASSURANCES"></A>
<H2 ALIGN=LEFT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>SECTION 13.
FURTHER ASSURANCES</FONT></H2>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In addition to the actions specifically provided for elsewhere in this
Agreement, from and after the Effective Date, each of the parties hereto shall
take, or cause to be taken, all actions, and to do, or cause to be done, all
things reasonably necessary, proper or advisable under applicable laws,
regulations and agreements to consummate and make effective the transactions
contemplated by this Agreement and to reasonably aid BIOCRYST in its assumption
and continuation of the Development Program, including the execution and
delivery of instruments of conveyance, assignment and transfer, cooperation in
all filings with, and to obtain all consents, approvals or authorizations of,
any governmental authority or any other person under any permit, license,
agreement, indenture or other instrument, at the expense of the requesting
party. </FONT></P>

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<P ALIGN=CENTER><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>10 </FONT></P>

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<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In the event that following the Effective Date ORTHO discovers any document,
data, contract, invention, patent, or any other item related to the Development
Program, which has not been transferred to BIOCRYST but which ORTHO is obligated
to transfer and/or assign to BIOCRYST pursuant to the License Agreement, or
makes any invention that would be characterized as a Joint Invention under the
License Agreement, ORTHO shall promptly notify BIOCRYST and assign and transfer
the foregoing to BIOCRYST. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In the event that ORTHO is contacted by any third party (including for example,
the FDA), in any fashion regarding the subject matter of the Development
Program, ORTHO shall promptly notify BIOCRYST of the of the nature and substance
of such contact or inquiry and shall comply with its confidentiality obligations
set forth herein. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor" -->
<A NAME="SECTION_14._INTERPRETATION"></A>
<H2 ALIGN=LEFT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>SECTION 14.
INTERPRETATION</FONT></H2>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
construction, validity and performance of this Agreement shall be governed in all
respects by the laws of the State of New York, without giving effect to principles of
conflict of laws. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor" -->
<A NAME="SECTION_15._DISPUTE_RESOLUTION"></A>
<H2 ALIGN=LEFT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>SECTION 15.
DISPUTE RESOLUTION</FONT></H2>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Dispute Resolution provisions set forth in Article 19 of the License Agreement are hereby
incorporated into this Agreement by reference, and shall apply to this Agreement as if
fully set forth herein. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor" -->
<A NAME="SECTION_16._NOTICES"></A>
<H2 ALIGN=LEFT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>SECTION 16.
NOTICES</FONT></H2>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Any notice required or permitted to be given under this Agreement shall be
mailed by registered or certified mail, postage prepaid, addressed to the Party
to be notified at its address stated below, or at such other address as may
hereafter be furnished in writing to the notifying Party or by telefax (with
confirmation sent by mail) to the numbers set forth below or to such changed
telefax numbers as may thereafter be furnished. </FONT></P>

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<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>If
to BIOCRYST:</FONT></TD>
</TR>
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<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>BIOCRYST
Pharmaceuticals, Inc. <BR>2190 Parkway Lake Drive <BR>Birmingham, Alabama 35244 <BR>Telefax No.:
(205) 444-4640 <BR>Attention: Chief Executive Officer</FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>If
to ORTHO:</FONT></TD>
</TR>
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<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>President <BR>
ORTHO-McNeil Pharmaceutical, Inc. <BR>
U.S. Route 202 South <BR>Raritan, NJ 08869-0602 <BR>Telefax
No.: (908) 218-1416</FONT></TD>
</TR>
</TABLE>
<BR>

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<TD>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Any such notice shall be
deemed to have been received when it has been delivered in the ordinary course
of post or received by telefax. </FONT></P>

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<P ALIGN=CENTER><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>11 </FONT></P>

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<!-- MARKER FORMAT-SHEET="Head Minor" -->
<A NAME="SECTION_17._WAIVER"></A>
<H2 ALIGN=LEFT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>SECTION 17.
WAIVER</FONT></H2>

<!-- MARKER FORMAT-SHEET="Para 10" -->
<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
failure on the part of BIOCRYST or ORTHO to exercise or enforce any rights conferred upon
it hereunder shall not be deemed to be a waiver of any such rights nor operate to bar the
exercise or enforcement thereof at any time or times thereafter. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor" -->
<A NAME="SECTION_18._ENTIRE_AGREEMENT"></A>
<H2 ALIGN=LEFT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>SECTION 18.
ENTIRE AGREEMENT</FONT></H2>

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<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Agreement constitutes the entire agreement between the Parties hereto concerning the
subject matter hereof and any representation, promise or condition in connection
therewith, not incorporated herein, shall not be binding upon either Party. </FONT></P>

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<H2 ALIGN=LEFT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>SECTION 19.
ASSIGNMENT</FONT></H2>

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<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Agreement, and all rights and obligations hereunder, is personal to ORTHO and shall not
be assigned in whole or in part by ORTHO to any other person or company (other than
Affiliates of ORTHO) without the prior written consent of BIOCRYST. When assigned as
permitted herein this Agreement shall be binding on each Party&#146;s successors and assigns. </FONT></P>

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<H2 ALIGN=LEFT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>SECTION 20.
TITLES</FONT></H2>

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<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It is
agreed that the marginal headings appearing at the beginning of the numbered Articles
hereof have been inserted for convenience only and do not constitute any part of this
Agreement. </FONT></P>

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<H2 ALIGN=LEFT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>SECTION 21.
UNENFORCEABLE PROVISIONS</FONT></H2>

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<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
provision hereof which is prohibited or unenforceable in any jurisdiction shall, as to
such jurisdiction, be ineffective only to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof or affecting the
validity or enforceability of such provisions in any other jurisdiction. </FONT></P>

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<H2 ALIGN=LEFT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>SECTION 22.
OTHERS</FONT></H2>

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<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
used in this Agreement, singular includes the plural and plural includes the singular,
wherever so required by fact or context. </FONT></P>

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<H2 ALIGN=LEFT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>SECTION 23.
EXECUTION</FONT></H2>

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<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Agreement shall be executed in two (2) counterparts each of which shall for all purposes
be deemed an original. </FONT></P>

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<P><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN
WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed by their
respective duly authorized officers or representatives as of the day and year first above
written. </FONT></P>

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<P ALIGN=CENTER><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>12 </FONT></P>

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     <TD WIDTH=40%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
     <TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
     <TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>BIOCRYST PHARMACEUTICALS, INC. </FONT></TD>
</TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;<BR><BR><BR> </FONT></TD>
</TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>WITNESS&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;_____  </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By:&nbsp;&nbsp;&nbsp;&nbsp;____________________________<BR>
     Title: ____________________________<BR>Date: ____________________________ </FONT></TD>
</TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;<BR><BR><BR> </FONT></TD>
</TR>
<TR VALIGN=TOP>
     <TD WIDTH=40%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
     <TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
     <TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ORTHO-McNEIL PHARMACEUTICAL, INC. </FONT></TD>
</TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;<BR><BR><BR> </FONT></TD>
</TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>WITNESS&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;_____ </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By:&nbsp;&nbsp;&nbsp;&nbsp;____________________________<BR>
     Title: ____________________________<BR>Date: ____________________________ </FONT></TD>
</TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;<BR><BR><BR> </FONT></TD>
</TR>
<TR VALIGN=TOP>
     <TD WIDTH=40%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
     <TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
     <TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>R.W. JOHNSON PHARMACEUTICAL RESEARCH <BR>INSTITUTE, DIVISION OF ORTHO-McNEIL<BR>PHARMACEUTICAL, INC.</FONT></TD>
</TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;<BR><BR><BR> </FONT></TD>
</TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>WITNESS&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;_____  </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By:&nbsp;&nbsp;&nbsp;&nbsp;____________________________<BR>
     Title: ____________________________<BR>Date: ____________________________ </FONT></TD>
</TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;<BR><BR><BR> </FONT></TD>
</TR>
</TABLE>

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<P ALIGN=CENTER><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>13 </FONT></P>

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