Termination Letter for License and Development Agreement between Pfizer Inc. and Corvas International Inc.

Contract Categories: Business Operations › Termination Agreements
Summary

This letter from Pfizer Inc. to Corvas International Inc. formally notifies Corvas that Pfizer is terminating the 1995 License and Development Agreement regarding Neutrophil Inhibitory Factor. Pfizer will also end all development activities related to this product. The parties will arrange a meeting to discuss the transfer of materials and documents from Pfizer to Corvas, as required by the original agreement.

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EX-10.50 3 corvas_ex10-50.txt EXHIBIT 10.50 [Pfizer letterhead] John L. LaMattina, Ph.D. Vice President, Pfizer Inc Executive Vice President, PGRD President, Worldwide Research June 13, 2002 George Vlasuk Corvas International Inc. 3030 Science Park Road San Diego, California 92121-1102 Dear George: In accordance with Section 18.4 of the License and Development Agreement, dated October 14, 1995 between Corvas International, Inc. and Pfizer Inc, including Pfizer Limited (the " 1995 Agreement"), Pfizer has terminated the development in all indications of Neutrophil Inhibitory Factor and terminates the 1995 Agreement. Pfizer and Corvas shall meet at a date to be determined to discuss the transfer of materials and documents from Pfizer to Corvas to fulfill the obligations of Pfizer under the 1995 Agreement. Sincerely yours, /s/ JOHN L. LAMATTINA John. L. LaMattina