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EXHIBIT 10.14
SUPPLEMENTAL AGREEMENT TO THE
LICENSE AGREEMENT
between
EMORY UNIVERSITY
and
PHARMASSET, LTD.
This Agreement is entered into this
26th day of March, 2004 by and between Emory University, a Georgia
non-profit corporation with principal offices located at 1380 South
Oxford Road, Atlanta, Georgia 30322, U.S.A. (hereinafter
“Emory”), and Pharmasset, Ltd., a Barbados
International Business Company with offices located at The
Financial Services Center, Bishop’s Court Hill, Suite 111,
St. Michael, Barbados (hereinafter
“Pharmasset”).
RECITALS:
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A.
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Emory entered
into a license agreement on April 17, 1996 with Triangle
Pharmaceuticals, Inc. (the “Triangle Agreement”),
whereby Emory granted Triangle exclusive rights to develop the
compound (-)-FTC as well as certain rights of first refusal to
“eeFTC” (as that term is defined in the Triangle
Agreement), which agreement has since been transferred to Gilead
Sciences, Inc.
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B.
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Emory and
Pharmasset entered into a License Agreement on December 8,
1998, pursuant to which Emory licensed certain patent rights and
know-how owned or controlled by Emory relating to eeFTC to
Pharmasset (the “License Agreement”).
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C.
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Emory and
Pharmasset thereafter entered into a Termination and Reinstatement
Agreement on June 9, 1999, confirming the effectiveness of the
License Agreement as of June 9, 1999.
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D.
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Both Emory and
Pharmasset have certain obligations to Gilead under Article 2.7(b)
of the Triangle Agreement, both Emory and Pharmasset seek to fully
honor the letter and spirit of those obligations, and both Emory
and Pharmasset desire to specify a procedure whereby Pharmasset may
explore comm
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