Amendment to License Agreement Between West Pharmaceutical Services, Inc., Its Subsidiary, and Innovative Drug Delivery Systems, Inc.

Contract Categories: Intellectual Property › License Agreements
Summary

This agreement amends a previous license agreement between West Pharmaceutical Services, Inc., its subsidiary, and Innovative Drug Delivery Systems, Inc. The amendment changes the payment terms, requiring Innovative Drug Delivery Systems, Inc. to pay West $2,250,000 by September 27, 2000. The agreement is effective upon execution by both parties and serves as the official record of the revised payment obligation.

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EX-10.5 11 b315337_ex10-5.txt LICENSE AGREEMENT Exhibit 10.5 Innovative Drug Delivery Systems, Inc. September 22, 2000 CONFIDENTiAL Dr. Donald B. Morel Sr,, Division President West Pharmaceutical Services, Inc. 101 Gordon Drive Lionville, PA 19341 Re: Letter Agreement Dear Don: This letter shall serve as our agreement that Section 4.1 of the License Agreement between West Pharmaceutical Services, Inc., its wholly owned subsidiary West Pharmaceutical Services Drug Delivery & Clinical Research Centre Ltd. and Innovative Drug Delivery Systems, Inc. is hereby amended in its entirety to read as follows: 4.1 License Fees. IDDS shall pay to West the amount of $2,250,000 on or before September 27, 2000. If this is acceptable to you, kindly execute this Letter Agreement where appropriate and return a copy to me at your earliest convenience. Thank you. Sincerely, Mark C. Rogers, M.D. Chairman WEST PHARMACEUTICAL SERVICES, INC. By: /s/ Donald E. Morel Jr. ---------------------------------------------- Donald E. Morel Jr., Division President, Drug Delivery Systems WEST PHARMACEUTICAL SERVICES DRUG DELIVERY & CLINICAL RESEARCH CENTRE LTD. By: /s/ Donald E. Morel Jr., Chairman ---------------------------------------------- Donald E. Morel Jr., Chairman 787 Seventh Avenue 48th Floor New York, NY 10019 Tel: 212 ###-###-#### Fax: 212 ###-###-####