Extension Letter to Letter of Intent between DOR BioPharma, Inc., Gastrotech Pharma A/S, and Sellers
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Summary
DOR BioPharma, Inc., Gastrotech Pharma A/S, and Nordic Biotech K/S have agreed to extend the termination and exclusivity periods of their existing Letter of Intent until January 15, 2006. All other terms of the original agreement remain unchanged. This extension allows the parties more time to negotiate or finalize their intended transaction.
EX-10.1 2 extensionlettergastro.htm DOR EXTENSION LETTER FOR GASTROTECH DOR Extension Letter for Gastrotech
DORBioPharma, Inc.
December 12, 2005
Confidential
Kind Attn: Hans T. Schambye, PhD
Chief Executive Officer
Gastrotech Pharma A/S
Nyhavn 43B
Copenhagen 1051
Denmark
Re: Extension of Letter of Intent between DOR BioPharma, Inc., Gastrotech Pharma A/S and Sellers dated October 28, 2005 (“Letter of Intent”)
Dear Hans:
This letter confirms our mutual agreement as of the date set forth above to extend both the termination date set forth in sub-clause (i) on page 4 of the Letter of Intent and the exclusivity period set forth on page 4 of the Letter of Intent through 11:59 pm (Eastern Standard Time) on January 15, 2006. All other terms of the Letter of Intent shall remain unchanged.
| Agreed and Accepted on December 29, 2005 | Agreed and Accepted on December 20, 2005 |
| DOR BIOPHARMA, INC. | GASTROTECH PHARMA A/S |
| By: /s/ Michael Sember | By: /s/ Hans T. Schambye |
| Mike Sember | Hans T. Schambye, PhD |
| Chief Executive Officer | Chief Executive Officer |
| By: /s/ Olle Isaksson | |
| Olle Isaksson | |
| Chairman of the Board of Directors | |
| NORDIC BIOTECH K/S | |
| By: /s/ Christian Hansen /s/ Florian Schonharting | |
| Christian Hansen Florian Schonharting | |
