ARYx Therapeutics, Inc.
EX-10.22
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<TYPE>EX-10.22
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<DESCRIPTION>EX-10.22
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 10.22</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="background:white;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">AMENDMENT TO</font></b></p>

<p style="background:white;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="background:white;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">LICENSE, DEVELOPMENT, AND
COMMERCIALIZATION AGREEMENT</font></b></p>

<p style="background:white;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="background:white;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Amendment to License, Development, and Commercialization Agreement
<b>(</b>the <b>&#147;Amendment&#148;)
</b>is entered into this 29<sup>th</sup> day of February, 2008, <b>(</b>the <b>&#147;Amendment Effective
Date&#148;) </b>by and between ARYx Therapeutics,&nbsp;Inc., a Delaware
corporation having offices at 6300 Dumbarton Circle, Fremont, CA 94555 <b>(&#147;ARYx&#148;)</b>, and Procter &amp; Gamble Pharmaceuticals,&nbsp;Inc.,
an Ohio corporation having offices at One Procter&nbsp;&amp; Gamble Plaza,
Cincinnati, Ohio 45202 <b>(&#147;P&amp;G&#148;).</b></font></p>

<p style="background:white;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="background:white;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">RECITALS</font></b></p>

<p style="background:white;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="background:white;font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WHEREAS</font></b>, AYRx
and P&amp;G are parties to that certain License, Development, and
Commercialization Agreement <b>(&#147;Agreement&#148;),</b> which was executed on June&nbsp;30, 2006;</p>

<p style="background:white;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="background:white;font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WHEREAS,</font></b> pursuant
to Section&nbsp;8.2(a)(ii) of the Agreement, P&amp;G is required to deliver to
ARYx a written analysis of the data and results from the Definitive QTc Study
(as such term is defined in the Agreement), along with a notification of the
milestone event arising from such data and results (as described in Section&nbsp;8.2(a)(ii)
and Exhibit H), unless P&amp;G exercises its right to terminate within a
specified time period following the QTc Milestone Date (as such term is defined
in the Agreement);</p>

<p style="background:white;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="background:white;font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WHEREAS,</font></b> in a
letter dated February&nbsp;22, 2008, ARYx and P&amp;G agreed to extend the foregoing
time period by five (5) business days to allow the Parties to discuss the data
and results from the Definitive QTc Study;</p>

<p style="background:white;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="background:white;font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WHEREAS,</font></b> based
on this discussion, P&amp;G and ARYx now desire to amend the Agreement to set a
new QT Milestone Date to permit a manual analysis of the data and results of
the Definitive QTc Study, all under the terms and conditions set forth below.</p>

<p style="background:white;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="background:white;font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;text-transform:uppercase;">Now</font></b><b> THEREFORE, </b>the Parties agree as follows:</p>

<p style="background:white;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="background:white;font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.</font></b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; All capitalized terms in this
Amendment that are not otherwise defined herein shall have the meanings given
to such terms in the Agreement.</p>

<p style="background:white;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="background:white;font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.</font></b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; As soon as practicable after the
Amendment Effective Date, the Parties shall submit the data from the Definitive
QTc Study to a Third Party for manual analysis <b>(</b>the
<b>&#147;Study Analyses&#148;)</b>,<b>  </b>where
the identity of such Third Party and the details of such manual analysis have
been mutually agreed by the Parties prior to the Amendment Effective Date and
documented in written minutes circulated between the Parties.</p>

<p style="background:white;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="background:white;font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">3.</font></b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Notwithstanding Section&nbsp;1.81
of the Agreement, the term <b>&#147;QTc Milestone
Date&#148;</b> shall mean the
date on which P&amp;G receives the results of the Study Analyses. &#160;This new definition shall apply to all
instances of &#147;QTc Milestone Date&#148; in the Agreement, including without
limitation in Sections 4.3(c), 8.2(a)(ii), and 14.3(b); provided, however, that
to the extent</p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="background:white;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">that
ARYx receives the results of the Study Analyses prior to or at the same time as
P&amp;G, P&amp;G obligations under Section&nbsp;8.2(a)(ii) with respect to the
disclosure of raw, analyzable data shall be inapplicable.</font></p>

<p style="background:white;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="background:white;font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">4.</font></b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Any references in the Agreement to
the data or results from the Definitive QTc Study shall be interpreted to
include the results of the Study Analyses. &#160;For the avoidance of doubt, all original data
and results from the Definitive QTc Study shall be evaluated in light of, and
to the extent appropriate based on sound statistical and regulatory principles
and data analysis methodologies, shall be superseded by, the results of the
Study Analyses.</p>

<p style="background:white;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="background:white;font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">5.</font></b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; This Amendment amends the terms of
the Agreement as expressly provided above, and the Agreement, as so amended and
including all of its other terms and provisions that are not amended, remains
in full force and effect. &#160;The validity,
performance, construction, and effect of this Amendment shall be governed by
the laws of the State of Delaware, without regard to conflicts of law
principles that would provide for application of the law of another
jurisdiction. &#160;This Amendment may be
executed in counterparts, all of which taken together shall be regarded as one
and the same instrument.</p>

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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IN
WITNESS WHEREOF, the Parties have executed this Amendment to License,
Development, and Commercialization Agreement through their duly authorized
representatives as of the Amendment Effective Date.</font></p>

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 <tr>
  <td width="49%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:49.18%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARYX THERAPEUTICS, INC.</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.78%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:48.04%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PROCTER &amp; GAMBLE<br>
  PHARMACEUTICALS, INC.<br><br></font></b></p>
  </td>
 </tr>
 <tr>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="45%" colspan="3" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:45.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Paul Goddard&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2/29/08</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.78%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.46%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="44%" colspan="3" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:44.58%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;/s/ Thomas
  M Fran&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2/29/08</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:49.18%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.78%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:48.04%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:5.16%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="44%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:44.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">PAUL GODDARD</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.78%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:4.96%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="43%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:43.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp; Thomas M Fran</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:49.18%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.78%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:48.04%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
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 <tr>
  <td width="4%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:4.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:&nbsp;</font></p>
  </td>
  <td width="44%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:44.68%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CEO</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.78%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:4.46%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="43%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:43.58%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President,
  Global Health Care</font></p>
  </td>
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