Research Grant Agreement between Mayo Foundation and EXACT Laboratories for Colorectal Neoplasia Study

Summary

The Mayo Foundation and EXACT Laboratories have entered into an agreement where EXACT will provide a grant totaling $256,892 to support a clinical study on colorectal neoplasia detection, led by Dr. David Ahlquist at Mayo. The grant will be paid in three installments over two years. Both parties agree not to use each other's names or trademarks in publicity without written consent. Mayo will publish study results with acknowledgment of EXACT's support and share anonymized data with EXACT, ensuring patient confidentiality. The study will comply with all applicable laws and regulations.

EX-10.15 6 a2033601zex-10_15.txt EXHIBIT 10.15 Exhibit 10.15 MAYO FOUNDATION 200 First Street SW Rochester, Minnesota 55905 ###-###-#### February 4, 1998 VIA PRIORITY MAIL - ----------------- Mr. Stan Lapidus EXACT LABORATORIES 63 Great Road Maynard, MA 01754 Re: Mayo Protocol "Screen Detection of Colorectal Neoplasia by DNA-based Assay (EXACT Test): Comparison with Fecal Occult Blood Testing"; Mayo TRB# 105-98, with Dr. David Ahlquist as Principal Investigator Dear Mr. Lapidus: The above-entitled study with Doctor Ahlquist of our Institution has been approved by the appropriate Mayo committees. It is my understanding that EXACT Laboratories has agreed to provide a grant to support this study. The purpose of this letter is to outline some general policies under which we undertake this arrangement with your company. You have agreed to provide a grant of $256,892.00 to fund expenses associated with this study. You will provide this grant in the following manner: $30,000.00 upon execution of this agreement; $113,446.00 on June 1, 1998; and $113,446.00 on June 1, 1999. Checks should be made payable to "Mayo Foundation" and sent to Mr. Ames Putnam, Research Services, Siebens 6, 200 First Street SW, Rochester, MN 55905. Each check shall reference Mayo IRB#. The Mayo Foundation taxpayer identification number is ###-###-####. Mayo will not use your company's name or trademarks in any news release, publicity release, or commercial communication without your express written approval. Correspondingly, EXACT shall not use the name of Mayo or its staff, or any of its trademarks, without the prior written approval of Mayo. In the interest of free exchange of scientific information, Mayo and the Principal Investigator intend to publish the results of this study. Mayo will include in that publication acknowledgement for your company's contribution to this study and will provide you with a copy. Mayo and Investigator agree to share data relating to the study with you. In order to protect patient confidentiality, any relevant patient data from this study furnished to you will be supplied without patient names or other patient identifying information. Your ability to review Mr. Stan Lapidus 2 February 4, 1998 patient medical records will be subject to reasonable safeguards for the protection of the patients' confidentiality. Mayo warrants that this study will be performed in accordance with all applicable federal, state and local laws and regulations, and Institutional guidelines, and that, if appropriate, Mayo will obtain from all subjects enrolled into the study a properly executed informed consent form that complies with such laws and regulations. Thank you for your generous support of Mayo's clinical and research efforts. Please indicate your acceptance of these issues by signing one copy of this letter and returning it to me. Sincerely, /s/ Nickie M. Bruce Nickie M. Bruce Research Contracts Manager NB/MKV cc: David Ahlquist, M.D. EXACT CORPORATION By --------------------------------------- Name ------------------------------------- Title ------------------------------------ Date -------------------------------------