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<SEC-DOCUMENT>0001132072-09-000253.txt : 20090626
<SEC-HEADER>0001132072-09-000253.hdr.sgml : 20090626
<ACCEPTANCE-DATETIME>20090626153204
ACCESSION NUMBER:		0001132072-09-000253
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20090612
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20090626
DATE AS OF CHANGE:		20090626

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ADEONA PHARMACEUTICALS, INC.
		CENTRAL INDEX KEY:			0000894158
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				133808303
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12584
		FILM NUMBER:		09912792

	BUSINESS ADDRESS:	
		STREET 1:		3985 RESEARCH PARK DRIVE
		CITY:			ANN ARBOR
		STATE:			MI
		ZIP:			48108
		BUSINESS PHONE:		734-332-7800

	MAIL ADDRESS:	
		STREET 1:		3985 RESEARCH PARK DRIVE
		CITY:			ANN ARBOR
		STATE:			MI
		ZIP:			48108

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PIPEX PHARMACEUTICALS, INC.
		DATE OF NAME CHANGE:	20061214

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SHEFFIELD PHARMACEUTICALS INC
		DATE OF NAME CHANGE:	19970730

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SHEFFIELD MEDICAL TECHNOLOGIES INC
		DATE OF NAME CHANGE:	19940606
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AND EXCHANGE COMMISSION</font></div>
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to Section 13 or 15(d)</font></div>
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Securities Exchange Act of 1934</font></div>
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      1.01</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Entry
      into a Material Definitive
Agreement</font></div>
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    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On June
22, 2009&#160;&#160;Adeona Pharmaceuticals, Inc. (the &#8216;Company&#8221;) and the Regents
of the University of Michigan (the University&#8221;) amended their license agreement
dated <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">August 3, 2005
and amended on August 26, 2008 (collectively, the "License Agreement")
</font>pursuant to which the University and the Company agreed:</font></div>
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          <tr valign="top">
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              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
      limit the licensed patents to U.S. Patent <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">7,416,741 </font>and
      corresponding foreign patents and to limit the field of use under the
      licensed patents to the treatment of Alzheimer&#8217;s, Huntington&#8217;s, and
      Parkinson&#8217;s diseases.</font></div>
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    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
      replace the due diligence obligations of the Company under the License
      Agreement with the following:</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 90pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Initiate
      manufacturing under Good Manufacturing Practices (GMP) of bulk active
      pharmaceutical ingredient used in the licensed products within one (1)
      year;</font></div>
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    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 90pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">File
      an investigational new drug (IND) application within twelve (12)
      months.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 90pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Initiate
      Phase I clinical trial within six months (6) of IND approval;
      and</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 90pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Commence
      first commercial sale by December 31,
2016.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Company is to reimburse the University for patent costs in the amount of
      $37,562 according to the following schedule: Within five (5) days:
      $10,000; within six (6) months: $10,000; and within twelve (12) months:
      $17,562.</font></div>
            </td>
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    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
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information contained in this Item 1.01 is qualified in its entirety by the
Second Amendment to License Agreement attached to this Current Report on Form
8-K as Exhibit 10.1 and incorporated herein by this
reference.&#160;&#160;</font></div>
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9.01.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Financial
Statements and Exhibits</font></div>
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      </font></td>
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      Amendment to License Agreement dated June 19, 2009 and executed June 22,
      2009 between the Regents of the University of Michigan and Adeona
      Pharmaceuticals, Inc.</font></div>
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      </font></td>
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            <td align="left" valign="top" width="22%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="68%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><a name="part_1_2_4"><br></a></div>
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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 hereunto
duly authorized.</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
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        <div align="left">
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              <tr>
                <td align="left" valign="middle" width="47%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
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      PHARMACEUTICALS, INC.</font></div>
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                <td align="left" valign="middle" width="47%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" colspan="3" valign="middle" width="48%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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      26, 2009&#160;</font></div>
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                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;By:</font></div>
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                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">/s/
      Steve H. Kanzer</font></div>
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                <td align="left" valign="middle" width="25%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="middle" width="47%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" colspan="3" valign="middle" width="48%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;Name:&#160;&#160;Steve
      H. Kanzer</font></div>
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              </tr>
              <tr>
                <td align="left" valign="middle" width="47%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
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                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;Its:&#160;
      Chairman and Chief Executive
Officer</font></div>
                </td>
              </tr>
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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>s22-9240_ex101.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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  <head>
    <title>s22-9240_ex101.htm</title>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font style="FONT-WEIGHT: bold">Exhibit 10.1</font><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECOND
AMENDMENT TO LICENSE AGREEMENT</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>This Amendment, dated 19th June 2009
(&#8220;EFFECTIVE DATE OF AMENDMENT&#8221;), is by and between Adeona Pharmaceuticals
(formerly Pipex Pharmaceuticals)&#160;&#160;(&#8220;LICENSEE&#8221;) and the Regents of the
University of Michigan ("MICHIGAN").</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>WHEREAS, LICENSEE and MICHIGAN entered
into a license agreement dated August 3, 2005 and amended on August 26, 2008
(collectively, the "License Agreement"); and</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>WHEREAS, MICHIGAN and LICENSEE desire
to modify certain provisions of the License Agreement as provided
herein.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>NOW THEREFORE, MICHIGAN and LICENSEE
hereby agree as follows:</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Existing
Paragraph 1.6&#160;&#160;&#8220;PATENT RIGHTS&#8221; shall be deleted in its entirety and
replaced with the following:</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.6&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;PATENT
RIGHTS&#8221; means MICHIGAN&#8217;S legal rights under the patent laws of the United States
or relevant foreign countries for all of the following:</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
following United States and foreign patents and/or patent applications, and
divisionals, continuations (except continuations-in-part), and foreign
counterparts of the same:</font></div>
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Issued Patent 7,416,741 entitled, &#8220; Copper Lowering Treatment of Inflammatory
and fibrotic diseases (UM 2169);</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;United
States and foreign patents issued from the applications listed in subparagraph
1(a) above, including any reissued or reexamined patents based upon the
same.</font></div>
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Paragraph 1.1 &#8220;FIELD OF USE&#8221; shall be deleted in its entirety and replaced with
the following:</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;FIELD
OF USE&#8221; means the treatment of Alzheimer&#8217;s, Huntington&#8217;s, and Parkinson&#8217;s
diseases.&#8221;</font></div>
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Paragraph 5.2&#160;&#160;&#8220;DILIGENCE&#8221; shall be deleted in its entirety and
replaced with the following:</font></div>
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part of the diligence required by Paragraph 5.1, LICENSEE agrees to reach the
following commercialization and research and development milestones for the
LICENSED PRODUCTS and LICENSED PROCESSES (together the &#8220;MILESTONES&#8221;) by the
following dates:</font></div>
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          <tr valign="top">
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Initiate
      manufacturing under Good Manufacturing Practices (GMP) of bulk active
      pharmaceutical ingredient used in the LICENSED PRODUCTS within one (1)
      year of the EFFECTIVE DATE OF AMENDMENT. Provide written proof of
      manufacture of bulk active pharmaceutical ingredient to
      MICHIGAN;</font></div>
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      the EFFECTIVE DATE OF AMENDMENT.</font></div>
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          </tr>
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    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
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            <td align="right" style="WIDTH: 72pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)&#160;&#160;</font></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Initiate
      Phase I clinical trial within six months (6) of IND
    approval;</font></div>
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          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
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          <tr valign="top">
            <td align="right" style="WIDTH: 72pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)&#160;&#160;</font></div>
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      COMMERCIAL SALE by December 31,
2016.</font></div>
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          </tr>
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    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
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shall reimburse MICHIGAN for back patent costs of $37,562.81 as
follows:</font></div>
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      </font></div>
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            <td>
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      five (5) days of the EFFECTIVE DATE OF AMENDMENT:
  $10,000;</font></div>
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          </tr>
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    <div>
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            <td style="WIDTH: 94.5pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
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      six (6) months of the EFFECTIVE DATE OF AMENDMENT:
  $10,000;</font></div>
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          </tr>
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    <div>
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          <tr valign="top">
            <td style="WIDTH: 94.5pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
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              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(3)&#160;&#160;&#160;Within
      twelve (12) months of EFFECTIVE DATE OF AMENDMENT:
  $17,562.</font></div>
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          </tr>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Existing
Paragraph 3.1(e) shall be deleted in its entirety and replaced with the
following:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 31.5pt"></font>LICENSEE shall pay to MICHIGAN
minimum annual royalties ("Annual Fee").&#160;&#160;This Annual Fee is accrued
on June 30 of the years specified below, and is payable with the semi-annual
report for the ROYALTY PERIOD in which the Annual Fee
accrues.&#160;&#160;LICENSEE may credit each Annual Fee in full against all
royalties under subparagraphs (b) and (c) above otherwise due MICHIGAN for the
prior July 1 through the June 30 on which the Annual Fee accrues.&#160;&#160;The
Annual Fees are:</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In
<font style="DISPLAY: inline; TEXT-DECORATION: underline">2010-2014</font>:
$<font style="DISPLAY: inline; TEXT-DECORATION: underline">5,000
</font>and</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In
<font style="DISPLAY: inline; TEXT-DECORATION: underline">2015</font> and in
each year thereafter during the term of this Agreement:
$50,000.&#160;&#160;Should this Agreement terminate or expire other than on a
June 30, the Annual Fee for such portion of a year shall be determined by
multiplying the amount set forth above for the given year by a fraction, the
numerator of which shall be the number of days since the prior June 30 during
which the Agreement is in effect and the denominator of which shall be three
hundred and sixty-five.</font></div>
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Paragraph 13.1 shall be deleted in its entirety and replaced with the
following:</font></div>
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notice, request, report or payment required or permitted to be given or made
under this Agreement by either parity is effective when mailed if sent by
recognized overnight carrier or certified mail, electronic mail followed by
confirmation by regular U.S. mail, or registered mail (return receipt requested)
to the address set forth below or such other address as such party specifies by
written notice given in conformity herewith. Any notice, request, report or
payment not so given is not effective until actually received by the other
party.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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        </div>
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        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <div align="center">
        <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">
            <tr>
              <td width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
    MICHIGAN:</font></td>
              <td width="59%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
    LICENSEE:</font></td>
            </tr>
            <tr>
              <td width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="59%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            </tr>
            <tr>
              <td width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The University of
      Michigan</font></td>
              <td width="59%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Adeona
      Pharmaceuticals</font></td>
            </tr>
            <tr>
              <td width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Office of Technology
      Transfer</font></td>
              <td width="59%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3930 Varsity
      Drive</font></td>
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              <td width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1214 S. University
      Ave. 2<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: super">nd</font>
      Floor</font></td>
              <td width="59%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Ann Arbor, MI
      48108</font></td>
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            <tr>
              <td width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Ann Arbor, MI
      48104-2592</font></td>
              <td width="59%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            </tr>
            <tr>
              <td width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="59%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            </tr>
            <tr>
              <td width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Attn: File No.
      2169</font></td>
              <td width="59%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Attn: Steve H.
      Kanzer</font></td>
            </tr>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Except
as specifically modified and amended above, all other terms and conditions of
the License Agreement remain unchanged and in effect and are hereby ratified and
adopted as though fully set forth herein.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>IN WITNESS WHEREOF, the parties have
entered into this Amendment to the Amended Agreement as of the date and year
first above-written.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">
      <div>
        <div align="left">
          <div align="left">
            <div align="left">
              <div align="left">
                <div align="left">
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                    <div align="left">
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                        <div align="left">
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                                                      <tr>
                                                        <td align="left" valign="top" width="34%" style="BORDER-TOP: medium none; PADDING-BOTTOM: 2px; BORDER-LEFT: medium none">
                                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">LICENSEE</font></div>
                                                        </td>
                                                        <td valign="top" width="6%" style="BORDER-TOP: medium none; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                                        <td align="left" valign="top" width="33%" style="BORDER-TOP: medium none; PADDING-BOTTOM: 2px">
                                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">THE
      REGENTS OF THE UNIVERSITY OF MICHIGAN</font></div>
                                                        </td>
                                                        <td valign="top" width="27%" style="BORDER-RIGHT: medium none; BORDER-TOP: medium none"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                                      </tr>
                                                      <tr>
                                                        <td valign="top" width="34%" style="PADDING-BOTTOM: 2px; BORDER-LEFT: medium none"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                                        <td valign="top" width="6%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                                        <td valign="top" width="33%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                                        <td valign="top" width="27%" style="BORDER-RIGHT: medium none"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                                      </tr>
                                                      <tr>
                                                        <td align="left" valign="top" width="34%" style="BORDER-LEFT: medium none; BORDER-BOTTOM: black 2px solid">
                                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">By:</font></div>
                                                        </td>
                                                        <td valign="top" width="6%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                                        <td align="left" valign="top" width="33%" style="BORDER-BOTTOM: black 2px solid">
                                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">By</font></div>
                                                        </td>
                                                        <td valign="top" width="27%" style="BORDER-RIGHT: medium none; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                                      </tr>
                                                      <tr>
                                                        <td valign="top" width="34%" style="PADDING-BOTTOM: 2px; BORDER-LEFT: medium none"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                                        <td valign="top" width="6%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                                        <td valign="top" width="33%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                                        <td valign="top" width="27%" style="BORDER-RIGHT: medium none"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                                      </tr>
                                                      <tr>
                                                        <td align="left" valign="top" width="34%" style="BORDER-LEFT: medium none; BORDER-BOTTOM: black 2px solid">
                                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Title:</font></div>
                                                        </td>
                                                        <td valign="top" width="6%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                                        <td align="left" valign="top" width="33%" style="BORDER-BOTTOM: black 2px solid">
                                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Title</font></div>
                                                        </td>
                                                        <td valign="top" width="27%" style="BORDER-RIGHT: medium none; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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                                                        <td valign="top" width="34%" style="PADDING-BOTTOM: 2px; BORDER-LEFT: medium none; BORDER-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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                                                        <td valign="top" width="6%" style="PADDING-BOTTOM: 2px; BORDER-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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                                                        <td valign="top" width="33%" style="PADDING-BOTTOM: 2px; BORDER-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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                                                        <td valign="top" width="27%" style="BORDER-RIGHT: medium none; BORDER-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
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