ASSET PURCHASE AGREEMENT

Asset Purchase Agreement

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DISCOVERY LABORATORIES INC /DE/ | LAUREATE PHARMA, INC

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Title: ASSET PURCHASE AGREEMENT
Governing Law: New Jersey Date: 1/3/2006
Industry: BIOTRX Law Firm: Morgan Lewis& Bockius LLP:Taylor, Colicchio & Silverman, LLP Taylor, Colicchio & Silverman, LLP Sector: HEALTH

Search Asset Purchase Agreement by:

Unassociated Document

Exhibit 10.1

ASSET PURCHASE AGREEMENT

among

LAUREATE PHARMA, INC.

(a Delaware corporation),

and

DISCOVERY LABORATORIES, INC.

(a Delaware corporation)

TABLE OF CONTENTS

Section

Page

INTRODUCTION			1
BACKGROUND			1
1.	Definitions		1
2.	Sale and Purchase		10
	2.1	Agreement to Sell and Purchase	10
	2.2	Purchase Price	12
	2.3	Assumption of Liabilities	12
	2.4	Consent of Third Parties	13
3.	Closing		14
	3.1	Location; Date	14
	3.2	Deliveries	14
4.	Representations and Warranties of Seller		15
	4.1	Organization and Standing	16
	4.2	[Reserved]	16
	4.3	Authority and Binding Effect	16
	4.4	Consents and Approvals	16
	4.5	[Reserved]	16
	4.6	[Reserved]	16
	4.7	Taxes	16
	4.8	[Reserved]	17
	4.9	[Reserved]	17
	4.10	Inventory	17
	4.11	Title to Purchased Assets and Related Matters	17
	4.12	Condition of Purchased Assets	18
	4.13	Real Property	18
	4.14	Intellectual Property.	19
	4.15	Contracts	20
	4.16	Employees/Independent Contractors	21
	4.17	Governmental Permits	21
	4.18	Compliance with Law and Court Orders	21
	4.19	Claims	22
	4.20	Insurance	22
	4.21	Non-Real Estate Leases	22

TABLE OF CONTENTS

(continued)

Section

Page

	4.22	Employee Benefit Plans	22
	4.23	[Reserved]	23
	4.24	Environmental Matters	23
	4.25	[Reserved]	25
	4.26	Broker’s or Finder’s Fee	25
	4.27	[Reserved]	25
	4.28	Certain Personal Property	25
	4.29	[Reserved]	25
	4.30	[Reserved]	25
	4.31	Solvency	25
	4.32	FDA	25
	4.33	Statements and Other Documents Not Misleading.	26
5.	Representations and Warranties of Buyer		26
	5.1	Organization and Standing	26
	5.2	Authority and Binding Effect	26
	5.3	Validity of Contemplated Transactions	26
	5.4	Broker’s or Finder’s Fee	27
	5.5	Availability of Funds	27
	5.6	Claims	27
	5.7	FDA	27
6.	Pre-Closing Covenants		27
	6.1	Access	27
	6.2	[Reserved]	27
	6.3	Operation of the Business	27
	6.4	Update of Schedules	28
	6.5	Employees and Business Relations	28
	6.6	Confidentiality.	30
	6.7	Related Parties	30
	6.8	Transfer of Purchased Assets and Business	30
	6.9	Fulfillment of Closing Conditions	30
	6.10	DMF	31
	6.11	[Reserved]	31
	6.12	[Reserved]	31

TABLE OF CONTENTS

(continued)

Section

Page

	6.13	[Reserved]	31
	6.14	Environmental	31
	6.15	Further Assurances	31
7.	Post-Closing Covenants		31
	7.1	Transition Period	31
	7.2	Employees	31
	7.3	Tax Matters	32
	7.4	Governmental Permits	33
	7.5	Existing Seller Clients	34
	7.6	DMF	34
	7.7	Insurance	34
	7.8	Totowa Property Signage	34
8.	Conditions Precedent to Obligations of Buyer		34
	8.1	Representations and Warranties; Performance of Obligations	34
	8.2	Closing Documents	34
	8.3	Closing Consents	34
	8.4	[Reserved]	35
	8.5	[Reserved]	35
	8.6	Legal Matters	35
	8.7	Opinion of Seller’s Counsel	35
9.	Conditions Precedent to Obligations of Seller		35
	9.1	Representations and Warranties; Performance of Obligations	35
	9.2	Legal Matters	35
	9.3	Consents	35
10.	Indemnification		35
	10.1	By Seller	35
	10.2	By Buyer	36
	10.3	Procedure for Claims	37
	10.4	Limitations on Liability	37
	10.5	Third Party Claims	39
	10.6	Right of Offset	40
	10.7	Effect of Investigation or Knowledge	40
	10.8	Contingent Claims	40

iii

TABLE OF CONTENTS

(continued)

Section

Page

11.	Termination		40
	11.1	Grounds for Termination	40
	11.2	Effect of Termination	41
12.	Other Matters		41
	12.1 </