Acknowledgement Letter Agreement among CDC IV, LLC and Meda AB regarding Meda License Agreement

Summary

This letter agreement, dated September 5, 2007, is between CDC IV, LLC and Meda AB. CDC IV, LLC acknowledges its execution of a Sublicensing Consent and Amendment with BioDelivery Sciences International, Inc. and Arius Pharmaceutical, Inc., and confirms that Meda AB relied on this consent to enter into a License and Development Agreement. The letter also clarifies that CDC IV, LLC's rights to unilaterally terminate its license are limited to specific sections of the CDC License. The agreement is confirmed by authorized signatures from both parties.

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EX-10.26 29 dex1026.htm ACKNOWLEDGEMENT BY CDC Acknowledgement by CDC

Exhibit 10.26

September 5, 2007

CDC IV, LLC

47 Hulfish Street, Suite 310

Princeton, NJ 08542

Attention: David Ramsay

Dear Sirs:

Reference is made to the License and Development Agreement made as of September 5, 2007 by and among BioDelivery Sciences International, Inc. (“BDSI”), Arius Pharmaceutical, Inc. (“Arius”) and Meda AB (“Meda”) (the “Meda License Agreement”), a copy of which is attached hereto as Exhibit A.

The undersigned, CDC IV, LLC hereby acknowledges (i) that it has executed that certain Sublicensing Consent and Amendment by BDSI, Arius and CDC IV,LLC attached hereto as Exhibit B; (ii) that Meda has relied upon the attached consent in connection with its execution of the Meda License Agreement; and (iii) that the only rights of unilateral termination available to CDC IV, LLC under the CDC License (as defined in the attached consent) are contained in Sections 10.2, 10.3 and 10.4 of the CDC License.

Please indicate your agreement to the provisions of this Letter Agreement by having a duly authorized officer of each of the addressees execute this Letter Agreement in duplicate and then return an executed copy to the undersigned.

[Signature page to follow.]

Very truly yours,
MEDA AB
By:  

/s/ Anders Lonner

Name:   Anders Lonner
Title:   Chief Executive Officer

 

ACCEPTED AND AGREED TO AS OF

THE DATE OF THIS LETTER AGREEMENT:

CDC IV, LLC
By:  

/s/ David Ramsey

Name:   David Ramsey
Title:   Partner

EXHIBIT A

MEDA LICENSE AGREEMENT

EXHIBIT B

CDC SUBLICENSING CONSENT AND AMENDMENT