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 | |