Item 8.01 Other Events.

On July 7, 2009, we entered into a license agreement and a stock transfer agreement with Merrimack Pharmaceuticals, Inc. pursuant to which we obtained exclusive worldwide rights to the development and commercialization of recombinant human alpha-fetoprotein, or rhAFP, including the recombinant, non-glycosylated version of rhAFP known as MM-093, for the treatment of autoimmune diseases. Under the terms of the agreements we will also receive Merrimack's initial inventory of bulk drug substance suitable for clinical studies and will assume control of the transgenic goats that express rhAFP in their milk, which were originally developed by us for Merrimack under a prior agreement and are cared for in our facilities.

In consideration for the license and these transfers, we have agreed to
(i) return to Merrimack all shares of Merrimack Series C convertible preferred stock that we currently hold and (ii) pay Merrimack development and sales milestones and royalties after any successful development and regulatory approval of the product. Our further development of this potential product is dependent upon our ability to attract a commercial partner to fund the development program.

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