Renewal of Research Agreement between Genaera Corporation and Ludwig Institute for Cancer Research (2001-2003)

Summary

Genaera Corporation and the Ludwig Institute for Cancer Research have agreed to renew their research agreement for an additional two years, from December 20, 2001 to December 20, 2003. The Brussels branch of LICR will conduct the research as outlined in the attached workplan. Genaera will provide payments to LICR to support the research, with amounts adjusted for Belgian salary and cost indices. All other terms of the original agreement remain unchanged. Both parties have signed to confirm their acceptance of the renewal and its terms.

EX-10.22 7 dex1022.txt RENEWAL OF LICR RESEARCH AGREEMENT EXHIBIT 10.22 [GENAERA LOGO HERE] October 31, 2001 Ludwig Institute for Cancer Research 605 Third Avenue - 33rd floor New York, NY 10158 Attention: Mr. Edward E. McDermott, President Dear Sirs: Pursuant to Section 4.2(a) of the Second Research Agreement dated December 20, 1999 between The Ludwig Institute for Cancer Research ( "LICR") and Genaera Corporation (formerly named Magainin Pharmaceuticals Inc.) ("Genaera") (the "Agreement") and our September 28, 2001 telephone conference, this letter serves as notice of renewal of the Agreement, effective December 20, 2001 for a two year period, ending on December 20, 2003. Except as set forth below, the Agreement shall remain unchanged and each provision contained therein shall remain in full force and effect. 1) The first sentence of section 4.2(a) shall read as follows: "The Brussels Branch of LICR And Genaera shall undertake the research program as described on the Workplan attached hereto as Attachment A over a period of two years from December 20, 2001." 2) Section 5.1 shall read as follows: "In partial support of the cost of the Second Research Program to be undertaken by LICR as set forth in Attachment A, Genaera shall make the following payments to LICR: Payment Date Payment Due ---------------- ----------- [**] The above payments shall be adjusted by increases in the annual salary costs in accordance with the Belgian Salary Index (Indice Sante) and laboratory costs and overhead in accordance with the Belgian Consumer Price Index (Indice Complet) based on December, 2001." ____________ ** Certain portions of this exhibit have been omitted based upon a request for confidential treatment that has been filed with the Commission. The omitted portions have been filed separately with the Commission. - -------------------------------------------------------------------------------- 5110 Campus Drive . Plymouth Meeting, PA 19642 . Tel ###-###-#### Fax ###-###-#### [GENAERA LOGO HERE] To: Ludwig Institute for Cancer Research October 31, 2001 Page 2 We look forward to a very productive working term on a very exciting workplan to be executed by the LICR scientists in the Brussels branch. Please indicate your agreement with the foregoing by signing and returning a copy of this letter. Best Regards, /s/ Roy C. Levitt, M.D. - ----------------------- Roy C. Levitt, M.D. President and CEO RCL:meb Encl. ACCEPTANCE BY: Ludwig institute for Cancer Research Date: /s/ Lloyd J. Old, M.D. Nov. 6, 2001 ------------------------------------ ------------ Lloyd J. Old, M.D., Chief Executive Officer /s/ Edward A. McDermott, Jr. Nov. 6, 2001 ------------------------------------- ------------ Edward A. McDermott, Jr., President ________________ ** Certain portions of this exhibit have been omitted based upon a request for confidential treatment that has been filed with the Commission. The omitted portions have been filed separately with the Commission.