Letter Agreement Regarding Preservation of Meda's Rights Under License and Development Agreement Among Meda AB, BioDelivery Sciences International, Arius Pharmaceuticals, and Arius Two
This agreement, dated August 2, 2006, is between Meda AB, BioDelivery Sciences International, Inc. (BDSI), Arius Pharmaceuticals, Inc., and Arius Two, Inc. The parties agree that BDSI, Arius, and Arius Two will not terminate any agreement in a way that would end Meda's rights under a specific License and Development Agreement, unless Meda's rights are protected and continue without interruption. The agreement ensures Meda's interests remain secure even if related agreements are changed or ended.
Exhibit 10.17
August 2, 2006
Meda AB
Box 906
Pipers vag 2A
17009
Solna, Sweden
Attention: Anders Lonners, CEO
Dear Anders:
This letter will confirm our agreement with Meda that neither BDSI, Arius nor Arius Two will take any action to terminate, by mutual agreement with a third party, any agreement which would cause a termination of Meda’s rights under the License and Development Agreement and each document, instrument, agreement, license and/or sublicense related thereto, unless provision is made for Meda’s rights under the License and Development Agreement to continue undisturbed.
| Very Truly Yours, | ||
| BioDelivery Sciences International, Inc. | ||
| By: | /s/ Mark A. Sirgo | |
| Arius Pharmaceuticals, Inc. | ||
| By: | /s/ Mark A. Sirgo | |
| Arius Two, Inc. | ||
| By: | /s/ Mark A. Sirgo | |
