Item 1.01. Entry into A Material Definitive Agreement

(a) Effective November 3, 2009, the secured promissory note dated September 11, 2009, among deCODE genetics, Inc., MediChem Life Sciences, Inc., deCODE Biostructures, Inc. and Saga Investments LLC, as amended on September 25, 2009, October 1, 2009, October 9, 2009, October 15, 2009, October 21, 2009, and October 26, 2009 was further amended to increase the principal amount thereof to $4,340,000 and to extend the maturity date to November 11, 2009.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

---