CONFIDENTIAL TREATMENT REQUESTED.
CONFIDENTIAL PORTIONS OF THIS DOCUMENT HAVE BEEN REDACTED AND HAVE
SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION.
AMENDMENT NO. 2
License Agreement dated 13th of June, 2000
as amended by Amendment No. 1 to that License Agreement dated May 20, 2001 by
ANTARES Pharma IPL AG, Zug, Baarerstrasse 95, 6301 Zug, Switzerland as
Licensor (formerly known as Permatec Technologie AG)
BioSante Pharmaceuticals, Inc., 175 Olde Half Day Road, Lincolnshire, IL.,
60069 U.S.A. as Licensee
WHEREAS, Antares Pharma IPL AG ("ANTARES") and BioSante Pharmaceuticals, Inc. ("BIOSANTE") have
entered into that certain License Agreement dated 13th of June, 2000 (the "Agreement"), regarding the grant of a
license with the right to sublicense products as defined in the Agreement, and have entered into a May 20, 2001
amendment to that Agreement entitled in part "Amendment No. 1 to the License Agreement dated 13th of June
2000" ("Amendment No. 1");
WHEREAS, ANTARES has granted BIOSANTE an option regarding the licensing of E2/T Combi-Gel in the
WHEREAS, ANTARES has offered within the "offering period" and BIOSANTE has an interest in licensing
WHEREAS, the parties acknowledge that the prerequisites provided for in 10.3.1 of the Agreement have been
NOW, THEREFORE, the Parties hereby agree according to this Amendment No. 2 to the License Agreement
dated 13th of June 2000 (the "Agreement") ("Amendment No. 2") to amend the Agreement as follows:
1. BIOSANTE hereby agrees to accept an exclusive license of the E2/T Combi-Gel pursuant to the terms and
conditions set forth in the Agreement as amended by Amendment No. 1.
2. The Parties hereby reaffirm their agreement to the terms and conditions under 10.3.2 and 10.3.3 of the
Agreement, and reaffirm that the payment obligations in 10.3.3.1 of the Agreement have been fully eliminated
pursuant to 4.1(c) of Amendment No. 1.
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