Amendment to Investor Rights Agreement between Memory Pharmaceuticals Corp. and Investors (February 27, 2004)

Summary

Memory Pharmaceuticals Corp. and its investors have agreed to amend their existing Investor Rights Agreement. The amendment specifically changes the definition of "Initial Public Offering" to require a minimum offering price of $7.50 per share and net proceeds of at least $25 million to the company. All other terms of the original agreement remain unchanged. This amendment is effective with the consent of the company and holders of at least two-thirds of the preferred stock.

EX-4.7 6 y92465a3exv4w7.txt AMENDMENT TO THE INVESTORS RIGHTS AGREEMENT Exhibit 4.7 Amendment to the Investor Rights Agreement dated as of February 27, 2004 (this "Amendment"), among Memory Pharmaceuticals Corp. and the investors set forth on the signature page hereto (the "Investors") ------------------------------------------------------ A. The Company and the Investors entered into a Fourth Amended and Restated Investor Rights Agreement dated as of September 11, 2003, as amended by an Agreement dated as of December 18, 2003, among the Company, Dr. Eric Kandel and the Investors (the "Investor Rights Agreement"). Capitalized terms used and not otherwise defined herein shall have the meanings ascribed to such terms in the Investor Rights Agreement. B. The Company and the Investors wish to amend the definition of "Initial Public Offering" in the Investor Rights Agreement. C. Pursuant to Section 8.3 of the Investor Rights Agreement, this Amendment requires the Company's consent and the consent in writing of holders of at least two-thirds (2/3) of the outstanding shares of Preferred Stock. The Company and the Investors hereby agree as follows: 1. Section 1.3 of the Investor Rights Agreement is hereby amended to delete the definition of "Initial Public Offering" in its entirety and replace it with the following: "Initial Public Offering" shall mean the closing of a firm commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933, as amended, covering the offer and sale of Common Stock for the account of the Company to the public at an initial public offering price per share of not less than $7.50 (such dollar amount being subject to equitable adjustment in the event of any stock dividend, stock split, combination, reorganization, recapitalization or similar event involving a change in the Common Stock) with net proceeds to the Company of not less than $25,000,000." 2. Except as specifically amended by this Amendment, the Investor Rights Agreement remains in full force and effect. Wherever the terms of this Amendment and the Investor Rights Agreement conflict, this Amendment controls. All references in the Investor Rights Agreement to "this Agreement" shall mean the Investor Rights Agreement, as amended hereby. 3. This Agreement may be executed in counterparts, which together shall constitute one and the same instrument. In witness whereof, the undersigned have executed this Amendment to the Investor Rights Agreement as of the date first above written. Company: Memory Pharmaceuticals Corp. By:/s/ Tony Scullion -------------------------------------- Name: Tony Scullion Title: Chief Executive Officer Investors: Oxford Bioscience Partners II L.P. By: OBP Management II L.P. By:/s/ Jonathan J. Fleming -------------------------------------- Name: Title: Oxford Bioscience Partners (Bermuda) II Limited Partnership By: OBP Management II (Bermuda) Limited Partnership By:/s/ Jonathan J. Fleming -------------------------------------- Name: Title: Oxford Bioscience Partners (Adjunct) II, L.P. By: OBP Management II L.P. By:/s/ Jonathan J. Fleming -------------------------------------- Name: Title: Oxford Bioscience Partners (GS-Adjunct) II, L.P. By: OBP Management II L.P. By:/s/ Jonathan J. Fleming -------------------------------------- Name: Title: Healthcare Ventures V L.P. By:/s/ Jeffrey Steinberg -------------------------------------- Name: Jeffrey Steinberg Title: Administrative Partner of HealthCare Partners V, L.P. The General Partner of HealthCare Ventures V, L.P. Hudson Trust By: -------------------------------------- Name: Title: Venrock Associates By:/s/ Anthony Evnin -------------------------------------- Name: Title: Venrock Associates II, L.P. By:/s/ Anthony Evnin -------------------------------------- Name: Title: Alta Embarcadero Partners II LLC By:/s/ Alix Marduel -------------------------------------- Name: Title: GLSLP Investment I Ltd. By:/s/ Christopher W. Cochrane -------------------------------------- Name: Christopher W. Cochrane Title: Authorized Signatory: Nelson Representatives Limited S.R. One Limited By:/s/ Philip L. Smith -------------------------------------- Name: Philip L. Smith Title: General Partner Alexandria Real Estate Equities, L.P., a Delaware limited partnership By: ARE-QRS Corp., a Maryland general partner By:/s/ Peter T. Nelson -------------------------------------- Name: Peter T. Nelson Title: Chief Financial Officer Pharma/w Health By:/s/ Michael Sheffery -------------------------------------- Name: Michael Schffery Title: General Partner, Orbimed Advisors, LLC Finsbury Worldwide Pharmaceutical Trust By:/s/ Michael Sheffery -------------------------------------- Name: Michael Sheffery Title: General Partner, Orbimed Advisors, LLC Eaton Vance Worldwide Health Sciences Portfolio By:/s/ Michael Sheffery -------------------------------------- Name: Michael Sheffery Title: General Partner, Orbimed Advisors, LLC Artal Services N.V. By:/s/ Bernard Darimont -------------------------------------- Name: Bernard Darimont Title: Managing Director Venrock Entrepreneuers Fund, L.P. By:/s/ Anthony B. Evnin -------------------------------------- Name: Title: Medica II Investment (Israel), LP By: -------------------------------------- Name: Title: Medica II Investment (International), LP By: -------------------------------------- Name: Title: GIMV /s/ Partick Von Benedek By:/s/ Dirk Boogmons - ----------------------- -------------------------------------- Patrick Von Benedek Name: Dirk Boogmons VP Life Sciences Title: CEO Memories Plus, LLC By: -------------------------------------- Name: Title: M&G Equities By:/s/ Michael Kartunkel -------------------------------------- Name: Michael Kartunkel Title: Partner ----------------------------------------- Kenneth J. Novack /s/ Larry Abrams ----------------------------------------- Larry Abrams Hare & Co., FAO Finsbury Worldwide Pharmaceutical Trust PLC By: -------------------------------------- Name: Title: Adviesbeheer GIMV Life Sciences /s/ Patrick Von Benedek By:/s/ Dirk Boogmons - ----------------------- -------------------------------------- Patrick Von Benedek Name: Dirk Boogmons Director Title: Director Bioveda Fund Pte Ltd By: -------------------------------------- Name: Title: By:Bioveda Capital Pte Ltd, Its Investment Manager By: -------------------------------------- Name: Title: Medica II Investments (P.F.)(Israel) L.P. By: -------------------------------------- Name: Title: Oxford Bioscience Partners II (Annex) L.P. By: OBP Management II L.P. By:/s/ Jonathan J. Fleming -------------------------------------- Name: Title: The Yasuda Enterprise Development I Limited Partnership By: Yasuda Enterprise Development Co., Ltd. By:/s/ Minoru Oka -------------------------------------- Name: Minoru Oka Title: President and Representative Director Gray Ghost, LLC By:/s/ Frank A. Bonsal, Jr. -------------------------------------- Name: Frank A. Bonsal, Jr. Title: Manager Mitsubishi Corporation By:/s/ Tsunehiko Yanagihara -------------------------------------- Name: Tsunehiko Yanagihara Title: General Manager Life Sciences Business Unit Mitsubishi International Corporation By:/s/ Motoatsu Sakurai -------------------------------------- Name: Motoatsu Sakwai Title: President and CEO CZ Specialty Chemicals, Inc. By:/s/ Tsunehiko Yanagihara -------------------------------------- Name: Tsunehiko Yanagihara Title: ----------------------------------------- Kenneth A. Sorensen, Ph.D. ----------------------------------------- Hans-Jurgen Hess, Ph.D. Mchugh, Divincent, Allessi, Inc. By: -------------------------------------- Name: Title: Societe Generale Investment Corporation By:/s/ David M. Malcom -------------------------------------- Name: David M. Malcom Title: Vice President RHO Management Trust II By: Rho Capital Partners, Inc., Investment Advisor By: -------------------------------------- Name: Title: Yamanouchi Venture Capital, LLC By:/s/ Yoshitaka Yoneyama -------------------------------------- Name: Yoshitaka Yoneyama Title: President and Chief Financial Officer Alta California Partners II, L.P. By: Alta California Management Partners II, LLC, Its General Partner By:/s/ Alix Marduel -------------------------------------- Name: Title: Biomedicine L.P. By: International Bm Biomedicine Holdings (Cayman) Ltd., Its General Partner By:/s/ Illegible -------------------------------------- Name: Title: /s/ Alexander Scriabine -------------------------------------- Alexander Scriabine, M.D. New England Partners Capital, L.P. By: Nep Capital, Llc, Its General Partner By: -------------------------------------- Name: Title: Middlegate Ventures, LLC By:/s/ Albert Sutton -------------------------------------- Name: Albert Sutton Title: Managing Partner ----------------------------------------- David I. Wolsk ----------------------------------------- David R. Novack ----------------------------------------- Helen Novack ----------------------------------------- Hyman Novack /s/ Natalie C. Scriabine (i.t.f.) ----------------------------------------- Natalie C. Scriabine /s/ Christine B. Scriabine ----------------------------------------- Christine B. Scriabine /s/ Steven Ostrofsky ----------------------------------------- Steven Ostrofsky ----------------------------------------- Peter Smith ----------------------------------------- Judith Smith ----------------------------------------- Stephen White ----------------------------------------- Mariam White Hoffmann-La Roche Inc. By: -------------------------------------- Name: Title: