Exhibit 10.71
ImClone Systems Incorporated
180 Varick Street, 7th Floor
New York, NY 100014
March 1, 1999
VIA FACSIMILE (011) 49-6151-72-3435 and DHL
Dr. Klaus Hoenneknoevel
Senior Vice President,
Licensing and Business Development
Merck KGaA
Frankfurter Strasse 250
64271 Darmstadt
Germany
Re: Development and License Agreement between Merck KGaA and ImClone dated
December 14, 1998
Dear Klaus:
As per the discussion that you have recently had in the Steering Committee
for C225 development, the parties have agreed to extend the three month period
during which the parties are to have agreed upon the commercially feasible
production concept for the C225 manufacturing facility of ImClone and for Merck
to have provided the Manufacturing Line of Credit for funding that facility. The
efforts to achieve such are going forward well between the parties. The
extension of such period shall be for one additional month, through April 15,
1999.
Therefore, by signing an enclosed consent copy of this letter, Merck
indicates that it agrees with ImClone to amend the reference to "three months"
in the third line of Section 4.9( c ) of the Agreement to "four months".
Kindly sign and return a signed copy of this letter of extension.
Very truly yours,
/s/ John B. Landes
-----------------------------
John B. Landes
Vice President,
Business Development
General Counsel
Merck KGaA Merck KGaA
By:/s/ Dr. Klaus Hoenneknoevel By: /s/ Dr. Klaus-Peter Brandis
Name: Dr. Hoenneknoevel Name: Dr. Brandis
Date: March 2, 1999 Date: March 2, 1999
Title: Head of Business Development Title: Head of Legal Department