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Chemgenics Pharmaceuticals - Employment Agreement W/ Alan Crane
[MYCO PHARMACEUTICALS INC. LETTERHEAD]
CONFIDENTIAL
June 21, 1995
Mr. Alan Crane 217 Varick Road Waban, MA 02168
Dear Alan:
We are pleased with the prospect of your joining Myco Pharmaceuticals as an employee and to offer you the position of Executive Director-Business Development. We believe you will find your position challenging and professionally rewarding. Terms of the offer are as follows:
Responsibilities: You will be responsible for analyzing, planning and as noted below implementing business development at Myco. Your responsibilities will involve both strategic and operational tasks including the following: seek and work to ensure the success of present and future strategic alliances; enhance Myco's development as a business and research, analyze and recommend pathways to optimize Myco's value and revenue stream; identify, analyze, prioritize, recommend and, as appropriate, negotiate product and technology opportunities and research agreements; prepare and update Myco's business strategy and business plan; meet with investment bankers, stock analysts, venture capitalists, and senior business development executives from other organizations to discuss strategic alliances, business deals, licensing, fund raising and valuation issues so as to optimize Myco's development as an effective and profitable business; work with high diligence and commitment to achieve the goals of the Company and ensure effective communication and cooperation with your colleagues in the Company; in conjunction with the senior scientific and financial staff, participate in the planning, strategy and evaluation of internal Myco projects and technology opportunities by performing market and risk analysis, portfolio analysis and financial modeling; oversee selected programs and prepare summary documents relating to corporate in-licensing and out-licensing opportunities; facilitate and participate effectively in selected Myco senior staff meetings.
You will be an employee at will and your services are to be on a full-time basis with your best efforts. Your duties and responsibilities may be modified by your supervisor from time to time. You will report to the CEO or other senior Myco executives as determined by the CEO.
2 CONFIDENTIAL...
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