Exhibit 10.2

 

CERTAIN INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT
MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY
DISCLOSED. OMISSIONS ARE DESIGNATED AS [†].

AMENDMENT NO. 1 TO ASSET PURCHASE AGREEMENT

This Amendment No. 1 (this “Amendment”), dated August 4, 2020 (the “Effective
Date”), modifies that certain Asset Purchase Agreement (the “Agreement”) entered
into as of April 25, 2017 by and between 1ST Order Pharmaceuticals, Inc., a
Delaware Corporation (“Seller”) and Xenon Pharmaceuticals Inc., a corporation
continued under the federal laws of Canada (“Acquiror”).

WHEREAS, Seller and Acquiror wish to amend certain language in the Agreement
with respect to Milestones 1 and 8;

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the parties hereby agree as follows:

1.

Definitions. For all purposes of and under this Amendment and the Agreement the
capitalized terms shall have the meanings set forth below. Any capitalized terms
not defined herein shall have the meanings set forth in the Agreement.

 

1.1.

“[†]” means [†].

 

1.2.

“[†]” means [†].

2.

Milestone Payments. Section 2.4(a) of the Agreement is hereby deleted in its
entirety and replaced with the following:

 

(a)

Subject to the terms and conditions of this Agreement, the Seller shall be
entitled to certain milestone payments (each payment as it relates to a
particular event, a “Milestone Payment”), each of which, if achieved, will be
due and payable within [†] following achievement of the applicable event set
forth below for the first Product to achieve such event (each, a “Milestone
Event”); provided, however, that no Milestone Payments will be earned or payable
to Seller if an applicable event set forth below is achieved on or after the [†]
anniversary of the Closing Date:

 

--------------------------------------------------------------------------------

 

Milestone Event Number

Milestone Event

Milestone Payment

 

Patent Milestone Event

 

1.

 

 

1(a)

Execution of Amendment No. 1

$0.3M

1(b)

[†]

[†]

1(c)

[†]

[†]

1(d)

 

[†]

[†]

 

Regulatory Milestone Event

 

2.

[†]

[†]

3.

[†]

[†]

4.

[†]

[†]

5.

[†]

[†]

6.

[†]

[†]

7.

[†]

[†]

For purposes of clarity, (i) Milestone Event Number 1(c) is in addition to, and
not a replacement for, Milestone Event Number 4, making the total amount payable
[†], depending on the outcome of Milestone Event Number 1(b).

3.

[†]. Subject to confidentiality and privacy obligations and applicable law,
Acquiror agrees to provide Seller with periodic updates on the progress made on
achieving the [†] as well as with the first draft of the clinical study report
(including all Tables, Listings, and Figures [TLFs]). [†].

4.

Mutual Release by All Parties. Each party hereby does and shall, for itself and
its successors, predecessors, parents, subsidiaries, stockholders, past and
current employees, officers, trustees, directors, board members,
representatives, agents, and assigns in their official and individual capacities
(collectively, the “Releasing Parties”), release the other party and its
successors, predecessors, parents, subsidiaries, partnerships, associated and
affiliated companies, related entities, past and current officers, trustees,
directors, members, board members, employees, agents, attorneys, insurance
companies, and assigns in their official and individual capacities
(collectively, the “Released Parties”) from any and all claims, actions, causes
of action, grievances, suits, charges, or complaints of any kind or nature
whatsoever, that the Releasing Parties ever had or now have up to the Effective
Date, arising from or relating to the payment of certain Milestone Payments,
including any payment or non-payment thereof, whether fixed or contingent,
liquidated or unliquidated, known or unknown, suspected or unsuspected, and
whether arising in tort, contract, statute, or equity, before any federal,
state, administrative, local, or private court, agency, arbitrator, mediator, or
other entity, regardless of the relief or remedy. The Releasing Parties
acknowledge and agree that they are aware that statutes exist that render null
and void releases of any claims, rights, demands, liabilities, actions and
causes of action which are unknown to the Releasing Parties at the time of
execution of the release. The Releasing Parties expressly waive, surrender and
agree to forego any protection to which they otherwise would be entitled against
one another by virtue of the existence of any such statute in any jurisdiction.
The Releasing Parties each retain the rights and remedies expressly or impliedly
provided to the Releasing Parties by the original terms of the Agreement which
are not amended in this Amendment.

5.

Agreement. Except as specifically amended by this Amendment No. 1, the Agreement
shall remain in full force and effect.

 

--------------------------------------------------------------------------------

 

In witness whereof, the Parties have executed this Amendment No. 1 as of the
Effective Date.

1ST ORDER PHARMACEUTICALS, INC.

 

XENON PHARMACEUTICALS INC.

By:

/s/ Christopher Crean

 

By:

/s/ Simon Pimstone

Name:

Christopher Crean

 

Name:

Simon Pimstone

Title

President CSO

 

Title:

CEO

 

 

 

 

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EXHIBIT A

[†]

[†]

1.  [†]

2.  [†]

3.  [†]

4.  [†]