Amendment No. 1 to License Agreement between PRAECIS Pharmaceuticals Incorporated and Pharmaceutical Applications Associates LLC

Summary

This amendment updates the original License Agreement dated April 15, 1999, between PRAECIS Pharmaceuticals Incorporated and Pharmaceutical Applications Associates LLC (along with C. Donald Williams, M.D., and Robert Murdock, R.Ph.). It changes Section 4.6 to require PRAECIS to pay $50,000 to PAA within 60 days after the first patient is treated in a Phase III study of the licensed product, if PRAECIS chooses to start such a study. All other terms of the original agreement remain unchanged.

EX-10.14 3 a2036100zex-10_14.txt EXHIBIT 10.14 EXHIBIT 10.14 AMENDMENT NO. 1 TO LICENSE AGREEMENT Pursuant to Section 15.2 of the License Agreement dated as of April 15, 1999 between Pharmaceutical Applications Associates LLC, C. Donald Williams, M.D., C.G.P., Robert Murdock, R.Ph. and PRAECIS PHARMACEUTICALS INCORPORATED (the "Agreement"), the parties hereto, intending to be legally bound, hereby agree as follows: Section 4.6 of the Agreement is hereby amended in its entirety to read as follows: 4.6 In the event that Licensee elects, in its sole discretion, to initiate a Phase III study of the Licensed Product, Licensee shall pay to PAA the sum of fifty thousand dollars ($50,000) within sixty (60) days of the treatment of the first patient. Capitalized terms used herein and not otherwise defined shall have the meanings ascribed to such terms in the Agreement. [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] IN WITNESS WHEREOF, the parties have duly executed this Amendment No. 1 to the Agreement as of this 25th day of August, 2000. PRAECIS PHARMACEUTICALS INCORPORATED /s/ Marc A. Silver ------------------------------------------ Marc A. Silver Vice President of Corporate Development PHARMACEUTICAL APPLICATIONS ASSOCIATES LLC By /s/ C. Donald Williams, M.D., C.G.P. ------------------------------------------ Name: C. Donald Williams, M.D., C.G.P. Title: President