PANC » Topics » PATENT LICENSE AGREEMENT

This excerpt taken from the PANC 8-K filed Jan 23, 2009.

PATENT LICENSE AGREEMENT

PATENT LICENSE AGREEMENT (“Agreement”), dated January 20, 2009 (the “Effective Date”), by and between PANACOS PHARMACEUTICALS, INC., a Delaware corporation (“Panacos”), and MYRIAD PHARMACEUTICALS, INC., a Delaware corporation (“Myriad”). Panacos and Myriad are referred to collectively herein as the “Parties” and each, individually as a “Party.”

WHEREAS, pursuant to an Asset Purchase Agreement dated as of January 20, 2009, by and between Panacos and Myriad (“Purchase Agreement”), Myriad acquired certain assets from Panacos used or which Myriad intends to use in connection with the development (preclinical and clinical), manufacture and commercialization of 3-O-(3’,3’-dimethylsuccinyl) betulinic acid and salts and solvates thereof, and polymorphs thereof (“Bevirimat”);

WHEREAS, the assets acquired by Myriad under the Purchase Agreement include all of Panacos’s interest in and to the Bevirimat Patents (as hereinafter defined), and the assets retained by Panacos under the Purchase Agreement include the Panacos Patents (as hereinafter defined);

WHEREAS, Myriad has agreed to grant certain licenses to Panacos and its Affiliates under the Bevirimat Patents; and

WHEREAS, Panacos has agreed to grant certain licenses to Myriad and its Affiliates under the Panacos Patents.

NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements set forth herein, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto agree as follows:

"PATENT LICENSE AGREEMENT" elsewhere:

Sevion Therapeutics, Inc. (SNT)
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