Amended and Restated Voting Agreement



 Exhibit 10.9 
 CONFIDENTIAL TREATMENT REQUESTED 
  
 AMENDED AND RESTATED VOTING AGREEMENT 
  

This AMENDED AND RESTATED VOTING AGREEMENT (the “Voting Agreement”) is made and entered into as of
May 2, 2012, by and among KaloBios Pharmaceuticals, Inc., a Delaware corporation (the “Company”), the holders of the Company’s Series A Preferred Stock (the “Series A Preferred Stock”), Series B-1
Preferred Stock (the “Series B-1 Preferred Stock”), Series B-2 Preferred Stock (the “Series B-2 Preferred Stock”), Series C Preferred Stock (the “Series C Preferred Stock”), Series D
Preferred Stock (the “Series D Preferred Stock”) and Series E Preferred Stock (the “Series E Preferred Stock”, and collectively with the Series A Preferred Stock, Series B-1 Preferred Stock, Series B-2
Preferred Stock, Series C Preferred Stock and Series D Preferred Stock, the “Preferred Stock”) as listed on the Schedule of Investors attached as Exhibit A hereto (individually, an “Investor” and
collectively, the “Investors”), and certain holders of Common Stock of the Company (individually, a “Common Holder” and collectively, the “Common Holders”) listed on the Schedule of Common Holders
attached as Exhibit B hereto. The Company, the Common Holders and the Investors are individually each referred to herein as a “Party” and are collectively referred to herein as the “Parties.” The
Company’s Board of Directors is referred to herein as the “Board.” 
 WITNESSETH: 

WHEREAS, the Company, the Common Holders, and certain of the Investors (the “Existing Investors”) are
parties to that certain Amended and Restated Voting Agreement, dated as of September 22, 2008 (the “Prior Agreement”); 
 WHEREAS, the Company and certain of the Investors (the “New Investors”) are parties to the Series E Preferred Stock Purchase Agreement dated of even date herewith (the “Series E
Agreement”), pursuant to which the New Investors are purchasing shares of the Company’s Series E Preferred Stock; 
 WHEREAS, the Company, the Common Holders and the Existing Investors wish to provide further inducement to the New Investors to purchase the Series E Preferred Stock by amending and restating the Prior
Agreement to include the New Investors and to amend and restate the rights and obligations set forth therein, in each case as set forth herein; 
 WHEREAS, the Prior Agreement may be amended with the consent of the Company, the holders of a majority of the then outstanding Common Stock held by the Common Holders (a “Majority of Common
Holders”), and Investors holding at least sixty percent (60%) of the outstanding Preferred Stock held by the Investors; 
 WHEREAS, the Company, a Majority of Common Holders and Investors holding at least sixty percent (60%) of the outstanding Preferred Stock held by the Investors are parties hereto; and 

WHEREAS, the Company’s Amended and Restated Certificate of Incorporation filed in connection with the closing of
the Series E Agreement (the “Company’s Amended and 

  
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 COMMISSION. 








 
Restated Certificate of Incorporation”) provides that (a) holders of shares of Preferred Stock, voting together as a single class, shall elect two (2) members of the
Board (the “Preferred Directors”) and (b) holders of shares of Preferred Stock and Common Stock, voting together as a single class, shall be entitled to elect any remaining members of the Board (the “At-Large
Director(s)”). 
 NOW, THEREFORE, in consideration of the foregoing premises and certain other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: 
 1.      Agreement to Vote. Each Investor, as a holder of Preferred Stock, hereby agrees on behalf of itself and any transferee or assignee of any such shares of the
Preferred Stock, to hold all of the shares of Preferred Stock registered in its name (and any securities of the Company issued with respect to, upon conversion of, or in exchange or substitution of the Preferred Stock, and any other voting
securities of the Company subsequently acquired by such Investor) (hereinafter collectively referred to as the “Investor Shares”) subject to, and to vote the Investor Shares at a regular or special meeting of stockholders (or by
written consent) in accordance with, the provisions of this Agreement. Each Common Holder, as a holder of Common Stock of the Company, hereby agrees on behalf of itself and any transferee or assignee of any such shares of Common Stock, to hold all
of such shares of Common Stock and any other securities of the Company acquired by such Common Holder in the future (and any securities of the Company issued with respect to, upon conversion of, or in exchange or substitution for such
securities) (the “Common Holder Shares”) subject to, and to vote the Common Holder Shares at a regular or special meeting of stockholders (or by written consent) in accordance with, the provisions of this Agreement.

 2.      Board Size. The holders of Investor Shares and Common Holder
Shares shall vote at a regular or special meeting of stockholders (or by written consent) such shares that they own (or as to which they have voting power) to ensure that the size of the Board shall be set at nine (9) directors; provided,
however, that such Board size may be subsequently increased or decreased pursuant to an amendment of this Agreement in accordance with Section 16 hereof. 
 3.      Election of Directors and Observation Rights. 
 (a)      For so long as each of 5AM Ventures LLC and its affiliated funds (collectively, “5AM”), Singapore Bio-Innovations Pte Ltd. and its affiliated funds
(collectively “Singapore”), GBS Venture Partners Limited and its affiliated funds (collectively “GBS”) and Alloy Ventures and its affiliated funds (collectively “Alloy”) holds in the aggregate at
least three percent (3%) of the Fully-Diluted Capital Stock (as defined below) of the Company (as adjusted for stock splits, stock dividends, recapitalizations or the like), each of 5AM, Singapore, GBS and Alloy shall be entitled to the
following rights: 
 (i)       If a designee of Singapore is not represented on
the Board, then the Company shall invite a representative of Singapore to attend all meetings of the Board (and all committees thereof) in a nonvoting observer capacity and, in this respect, shall give such representative copies of all notices,
minutes, consents, and other material that it provides to its directors; provided, however, that the Company shall reserve the right to exclude such 

  
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representative from access to any material or meeting or portion thereof if the Company believes upon advice of counsel that such exclusion is reasonably necessary to preserve the attorney-client
privilege. Such representative may participate in discussions of matters brought to the Board. 

(ii)      If a designee of 5AM is not represented on the Board, the Company shall invite a
representative of 5AM to attend all meetings of the Board (and all committees thereof) in a nonvoting observer capacity and, in this respect, shall give such representative copies of all notices, minutes, consents, and other material that it
provides to its directors; provided, however, that the Company shall reserve the right to exclude such representative from access to any material or meeting or portion thereof if the Company believes upon advice of counsel that such exclusion is
reasonably necessary to preserve the attorney-client privilege. Such representative may participate in discussions of matters brought to the Board. 
 (iii)      If a designee of GBS is not represented on the Board, the Company shall invite a representative of GBS to attend all meetings of the Board (and all committees
thereof) in a nonvoting observer capacity and, in this respect, shall give such representative copies of all notices, minutes, consents, and other material that it provides to its directors; provided, however, that the Company shall reserve the
right to exclude such representative from access to any material or meeting or portion thereof if the Company believes upon advice of counsel that such exclusion is reasonably necessary to preserve the attorney-client privilege. Such representative
may participate in discussions of matters brought to the Board. 
 (iv)      If a
designee of Alloy is not represented on the Board, the Company shall invite a representative of Alloy to attend all meetings of the Board (and all committees thereof) in a nonvoting observer capacity and, in this respect, shall give such
representative copies of all notices, minutes, consents, and other material that it provides to its directors; provided, however, that the Company shall reserve the right to exclude such representative from access to any material or meeting or
portion thereof if the Company believes upon advice of counsel that such exclusion is reasonably necessary to preserve the attorney-client privilege. Such representative may participate in discussions of matters brought to the Board. 

(b)      In any election of directors of the Company to elect the Preferred Directors, the
Parties holding shares of Preferred Stock shall each vote at any regular or special meeting of stockholders (or by written consent) such number of shares of Preferred Stock then owned by them (or as to which they then have voting power) as may be
necessary to elect (i) one (1) director nominated by funds managed by or affiliated with Sofinnova Ventures, Inc. (“Sofinnova”), which director shall initially be James Healy, for so long as Sofinnova holds at least
five percent (5%) of the Fully-Diluted Capital Stock (as defined below) of the Company (as adjusted for stock splits, stock dividends, recapitalizations or the like) and (ii) one (1) director nominated by a majority of the holders of
shares of Preferred Stock, voting together as a single class, which director shall initially be Dennis Henner. James Healy shall initially serve as Chairman of the Board. 

  
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(c)      (i)      In any election of directors of the Company
to elect At-Large Directors, the Parties holding shares of Common Stock and Preferred Stock shall each vote at any regular or special meeting of stockholders (or by written consent) such number of shares of Common Stock and/or Preferred Stock then
owned by them (or as to which they then have voting power) as may be necessary to elect one (1) director who shall be the Company’s then current Chief Executive Officer (“CEO”). Such At-Large Director shall initially be
David Pritchard; and 
   (ii)      In any election of directors of the
Company to elect additional At-Large Directors, whom, in the reasonable judgment of the Board of Directors of the Company, shall be recognized experts in the biotechnology field, and shall not be employed by the Company, the Investors and the Common
Holders shall each vote at any regular or special meeting of stockholders (or by written consent) such number of voting securities of the Company then owned by them (or as to which they then have voting power) as may be necessary to elect the
At-Large Directors that are nominated by a majority of the holders of shares of Preferred Stock and Common Stock, voting together as a single class, which directors shall initially be Brigitte Smith, Ted Love, Gary Lyons, Denise Gilbert and Ray
Withy. 
 For purposes of this Agreement, “Fully-Diluted Capital Stock” shall mean
(A) outstanding Common Stock, (B) Common Stock issuable upon conversion of Preferred Stock, (C) Common Stock issuable upon exercise of outstanding options and (D) Common Stock issuable upon exercise (and, in the case of warrants
to purchase Preferred Stock, conversion) of outstanding warrants. 

4.      Removal.  Any director of the Company may be removed from the
Board in the manner allowed by law and the Company’s Amended and Restated Certificate of Incorporation and Bylaws, but with respect to a director designated pursuant to subsections 3(b) and 3(c), only upon the vote or written consent of the
stockholders holding a majority of the shares or directors entitled to designate such director. 

5.      Legend on Share Certificates.  Each certificate representing any
Shares shall be endorsed by the Company with a legend reading substantially as follows: 

“THE SHARES EVIDENCED HEREBY ARE SUBJECT TO A VOTING AGREEMENT (A COPY OF WHICH MAY BE OBTAINED
UPON WRITTEN REQUEST FROM THE ISSUER), AND BY ACCEPTING ANY INTEREST IN SUCH SHARES THE PERSON ACCEPTING SUCH INTEREST SHALL BE DEEMED TO AGREE TO AND SHALL BECOME BOUND BY ALL THE PROVISIONS OF SAID VOTING AGREEMENT.” 

6.      “Drag Along” Right.  In the event that the Board and
the holders of at least sixty percent (60%) of the then outstanding shares of Preferred Stock (on an as-converted basis) approve a Liquidation Event (as defined in the Company’s Amended and Restated Certificate of Incorporation) (a
“Sale of the Company”), then each Investor and Common Holder hereby agrees 

  
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with respect to all securities of the Company which it own(s) or otherwise exercises voting or dispositive authority: 

(a)      In the event the Sale of the Company is to be brought to a vote at a stockholder
meeting, after receiving proper notice of any meeting of stockholders of the Company to vote on the approval of a Sale of the Company, to be present, in person or by proxy, as a holder of shares of voting securities, at all such meetings and be
counted for the purposes of determining the presence of a quorum at such meetings; 

(b)      to vote (in person, by proxy or by action by written consent, as applicable) all
shares of the capital stock of the Company as to which it has beneficial ownership in favor of such Sale of the Company and in opposition of any and all other proposals that could reasonably be expected to delay or impair the ability of the Company
to consummate such Sale of the Company; 
 (c)      to refrain from exercising
any dissenters’ rights or rights of appraisal under applicable law at any time with respect to such Sale of the Company; 
 (d)      to execute and deliver all related documentation and take such other action in support of the Sale of the Company as shall reasonably be requested by the Company;
and 
 (e)      except for this Voting Agreement, neither any of the parties
hereto nor any affiliates thereof shall deposit any shares of capital stock beneficially owned by such party or affiliate in a voting trust or subject any such shares of capital stock to any arrangement or agreement with respect to the voting of
such shares of capital stock. 
 Notwithstanding the foregoing, (x) no Investor or Common Holder shall be
required to comply with the provisions of this Section 6 with respect to a Sale of the Company (i) if such Investor or Common Holder (solely in its role as a stockholder) is required to (A) make representations and warranties in any
documentation to be entered into in connection with the Sale of the Company (the “Merger Documents”), that are different than the representations and warranties provided by other stockholders (solely in their role as a stockholder)
or (B) contribute additional capital or assets in connection with such sale of the Company, unless such Investor or Common Holder otherwise agrees, or (ii) unless (A) the net proceeds of such Sale of the Company are to be distributed
to stockholders of the Company in accordance with the Company’s Amended and Restated Certificate of Incorporation, (B) the liability of each stockholder on account of such sale or transaction, is several and not joint with any other person
(except to the extent that funds may be paid out of an escrow established to cover breach of representations, warranties and covenants of the Company as well as breach by any stockholder of any of identical representations, warranties and covenants
provided by all stockholders), and will not exceed the value of the consideration received by such stockholder in the sale or transaction; and (C) the amount payable by such stockholder of the Company on account of any particular claim made
against it (including any escrowed proceeds received by it) will not exceed its proportional allocation based on the respective amount of consideration received by it in such transaction relative to all other stockholders and (y) no holder of
Series E Preferred Stock shall be required to comply with the provisions of this Section 6 with respect to a Sale of the Company 

  
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unless such holder would receive for each share of Series E Preferred Stock held by such holder an amount of consideration in such transaction greater than or equal to the Participation Cap
applicable to the Series E Preferred Stock (as defined in the Company’s Amended and Restated Certificate of Incorporation). 
 7.      Covenants of the Company.  The Company agrees to use its best efforts to ensure that the rights granted hereunder are effective and that the Parties
hereto enjoy the benefits thereof. Such actions include, without limitation, the use of the Company’s best efforts to cause the nomination and election of the directors as provided above. The Company will not, by any voluntary action, avoid or
seek to avoid the observance or performance of any of the terms to be performed hereunder by the Company, but will at all times in good faith assist in the carrying out of all of the provisions of this Agreement and in the taking of all such actions
as may be necessary, appropriate or reasonably requested by the holders of a majority of the outstanding voting securities held by the Parties hereto assuming conversion of all outstanding securities in order to protect the rights of the Parties
hereunder against impairment. 
 8.      No Liability for Election of
Recommended Directors.  Neither the Company, the Common Holders, the Investors, nor any officer, director, stockholder, partner, employee or agent of such Party, makes any representation or warranty as to the fitness or competence of
the nominee of any Party hereunder to serve on the Company’s Board by virtue of such Party’s execution of this Agreement or by the act of such Party in voting for such nominee pursuant to this Agreement. 

9.      Grant of Proxy.  Should the provisions of this Agreement be
construed to constitute the granting of proxies, such proxies shall be deemed coupled with an interest and are irrevocable for the term of this Agreement. 
 10.      Specific Enforcement.  It is agreed and understood that monetary damages would not adequately compensate an injured Party for the breach of this
Agreement by any Party, that this Agreement shall be specifically enforceable, and that any breach or threatened breach of this Agreement shall be the proper subject of a temporary or permanent injunction or restraining order. Further, each Party
hereto waives any claim or defense that there is an adequate remedy at law for such breach or threatened breach. 
 11.      Execution by the Company.  The Company, by its execution in the space provided below, agrees that it will cause the certificates evidencing the
shares of Common Stock and Preferred Stock to bear the legend required by Section 5 herein, and it shall supply, free of charge, a copy of this Agreement to any holder of a certificate evidencing shares of capital stock of the Company upon
written request from such holder to the Company at its principal office. The Parties hereto do hereby agree that the failure to cause the certificates evidencing the shares of Common Stock and Preferred Stock to bear the legend required by
Section 5 herein and/or failure of the Company to supply, free of charge, a copy of this Agreement as provided under Section 5 shall not affect the validity or enforcement of this Agreement. 

12.      Captions.  The captions, headings and arrangements used in this
Agreement are for convenience only and do not in any way limit or amplify the terms and provisions hereof. 

  
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 13.      Notices.  All
notices and other communications given or made pursuant hereto shall be in writing and shall be deemed effectively given upon the earlier to occur of actual receipt or: (a) upon personal delivery to the Party to be notified, (b) when sent
by confirmed electronic mail or facsimile if sent during normal business hours of the recipient; or if not, then on the next business day, (c) five (5) days after having been sent by registered or certified mail, return receipt requested,
postage prepaid, or (d) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the respective Parties at the
addresses set forth on the signature pages attached hereto (or at such other addresses as shall be specified by notice given in accordance with this Section 13). 

14.      Term.  This Agreement shall terminate and be of no further force
or effect immediately or on the earlier of (a) the consummation of the Company’s sale of its Common Stock or other securities listed on the Nasdaq National Market or the New York Stock Exchange pursuant to a registration statement on Form
S-1 or successor form under the Securities Act of 1933, as amended, (other than a registration statement relating either to sale of securities to employees of the Company pursuant to its stock option, stock purchase or similar plan or a SEC
Rule 145 transaction), with a pre-initial public offering valuation of at least $225,000,000 and gross proceeds to the Company of not less than $30,000,000; (b) the date on which a registration statement on Form S-1 registering for re-sale
by shareholders of this corporation shares of Common Stock issued upon conversion of the Preferred Stock and, without duplication, shares of Common Stock issued in, or shares of Common Stock issued upon conversion of shares of Preferred Stock issued
in, a PIPE Offering (as defined in the Amended and Restated Investors’ Rights Agreement, dated as of the date hereof among the Company and certain of its shareholders) becomes effective; (c) the consummation of a Sale of the Company; or
(d) the date specified by written consent or agreement of the holders of a majority of the then outstanding Common Stock held by the Common Holders and the holders of not less than sixty percent (60%) of the then outstanding shares of
Preferred Stock. 
 15.      Manner of Voting.  The voting of
shares pursuant to this Agreement may be effected in person, by proxy, by written consent, or in any other manner permitted by applicable law. 
 16.      Amendments and Waivers.  Any term hereof may be amended and the observance of any term hereof may be waived (either generally or in a particular
instance and either retroactively or prospectively) only with the written consent of (a) the Company, (b) the holders of a majority of the then outstanding Common Stock held by the Common Holders, and (c) the holders of sixty percent
(60%) of the then outstanding Preferred Stock held by the Investors; provided, however, that any amendment to clause (y) of the last sentence of Section 6 also shall require the prior written consent of the holders of sixty percent
(60%) of the then outstanding Series E Preferred Stock held by the Investors. Any amendment or waiver so effected shall be binding upon the Parties hereto, and all their respective successors and assigns whether or not such party, assignee, or
other stockholder entered into or approved such amendment or waiver. The Parties hereby agree and acknowledge that the addition of an additional party pursuant to Section 23 below shall not constitute an amendment or waiver of this Agreement.


  
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 17.      Stock Splits, Stock Dividends,
etc.  In the event of any issuance of shares of the Company’s voting securities hereafter to any of the Parties hereto (including, without limitation, in connection with any stock split, stock dividend, recapitalization,
reorganization, or the like), such shares shall become subject to this Agreement and shall be endorsed with the legend set forth in Section 5. 
 18.      Severability.  Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement shall be held to be prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of such
provision or the remaining provisions of this Agreement. 
 19.      Binding
Effect.  In addition to any restriction or transfer that may be imposed by any other agreement by which any Party hereto may be bound, this Agreement shall be binding upon the Parties, their respective heirs, successors and assigns and
to such additional individuals or entities that may become stockholders of the Company and that desire to become Parties hereto; provided that for any such transfer to be deemed effective, the transferee shall have executed and delivered an Adoption
Agreement substantially in the form attached hereto as Exhibit C. Upon the execution and delivery of an Adoption Agreement by any transferee reasonably acceptable to the Company, such transferee shall be deemed to be a Party hereto as if such
transferee’s signature appeared on the signature pages hereto. By their execution hereof or any Adoption Agreement, each of the Parties hereto appoints the Company as its attorney-in-fact for the purpose of executing any Adoption Agreement
which may be required to be delivered hereunder. 
 20.      Governing
Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to conflicts of law principles thereof. 

21.      Entire Agreement and Termination of Prior Agreement.  This
Agreement is intended to be the sole agreement of the Parties as it relates to this subject matter and does hereby supersede all other agreements of the Parties relating to the subject matter hereof. By execution of this Agreement, the Company,
Investors holding at least sixty percent (60%) of the outstanding Preferred Stock held by the Investors and a majority of Common Holders subject to the Prior Agreement acknowledge and agree that the Prior Agreement shall hereby terminate and
shall be of no further force and effect and each of the parties thereto shall have no further rights or obligations thereunder. 
 22.      Counterparts.    This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument. 
 23.      Additional
Parties. 
   (a)      In the event of a subsequent closing with an
investor as provided for in Section 1.3 of the Series E Agreement, such investor shall become a party to this 

  
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Agreement as an “Investor” upon receipt from such investor of a fully executed signature page hereto. 

  (b)      If additional parties purchase shares of the Company’s Common
Stock (each additional party, a “New Common Holder”), including but not limited to, pursuant to the exercise of an option or warrant to purchase shares of Common Stock, then each such New Common Holder may become party to this
Agreement as a “Common Holder” hereunder, without the need for any consent, approval or signature of any Investor or Common Holder, when such New Common Holder has both: (i) purchased such shares of Common Stock and paid the Company
all consideration payable for such shares and (ii) executed a counterpart signature page to this Agreement. The Company shall require each stockholder owning shares of the Company’s Common Stock, which shares represent in the aggregate at
least one percent (1.0%) of the total capital stock of the Company, to become a party to this Agreement as a “Common Holder”. For purposes of this Section 23(b), “total capital stock of the Company” shall include
(A) all outstanding shares of the Company’s Common Stock, (B) all shares of Common Stock issuable upon conversion or exercise of all outstanding convertible or exercisable securities of the Company and (C) all shares of Common
Stock reserved for issuance pursuant to the Company’s employee stock plans. 

24.      Arbitration.  Any controversy between the Parties hereto
involving any claim arising out of or relating to the termination of this Agreement, will be submitted to and be settled by final and binding arbitration in San Francisco, California, in accordance with the then current Commercial Arbitration Rules
of the American Arbitration Association (the “AAA”), and judgment upon the award rendered by the arbitrators may be entered in any court having jurisdiction thereof. Such arbitration shall be conducted by three (3) arbitrators
chosen by the Company, the Investors, and the Common Holders, or failing such agreement, an arbitrator experienced in the sale of similarly-sized companies appointed by the AAA. There shall be limited discovery prior to the arbitration hearing as
follows: (a) exchange of witness lists and copies of documentary evidence and documents relating to or arising out of the issues to be arbitrated, (b) depositions of all party witnesses, and (c) such other depositions as may be
allowed by the arbitrators upon a showing of good cause. Depositions shall be conducted in accordance with the California Code of Civil Procedure, the arbitrator(s) shall be required to provide in writing to the Parties the basis for the award or
order of such arbitrator(s), and a court reporter shall record all hearings, with such record constituting the official transcript of such proceedings. 
 25.      Aggregation of Stock.  All shares of the Preferred Stock and Common Stock held or acquired by affiliated entities or persons shall be aggregated
together for the purpose of determining the availability of any rights under this Agreement. For purposes of this Agreement, the mutual funds, other pooled vehicles and client accounts on whose behalf the [***] Investors (as defined in
Section 26) and their respective investment advisory affiliates exercise investment discretion shall be considered affiliates or affiliated entities or persons of such [***] Investors and such investment advisory affiliates. 

26.      Massachusetts Business Trust.  A copy of the Agreement and
Declaration of Trust of [***] Advisor Series I: [***] Advisor Dividend Growth Fund, [***] Advisor Series VII: [***] Advisor Biotechnology Fund, [***] Magellan Fund: [***] Magellan Fund, [***] 


  
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Rutland Square Trust II: Strategic Advisers Core Fund, [***] Rutland Square Trust II: Strategic Advisers Core Multi-Manager Fund, [***] Securities Fund: [***] Dividend Growth Fund, [***] Select
Portfolios: Biotechnology Portfolio and Variable Insurance Products Fund III: Balanced Portfolio (each, a “[***] Investor”) (or any affiliate thereof) is on file with the Secretary of the Commonwealth of Massachusetts and notice is
hereby given that this Agreement is executed on behalf of the trustees of each such [***] Investor or any such affiliate thereof as trustees and not individually and that the obligations of this Agreement are not binding on any of the trustees,
officers or stockholders of any such [***] Investor or any such affiliate thereof individually but are binding only upon each such [***] Investor or any such affiliate thereof and its assets and property. 

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 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date
first written above. 
  

			
		 	KALOBIOS PHARMACEUTICALS, INC.
		
		 	 /s/ David Pritchard

		 	David Pritchard
		 	Chief Executive Officer
		
	Address:  	 	260 East Grand Avenue
		 	South San Francisco, CA 94080


  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED & RESTATED VOTING AGREEMENT 

[***] CONFIDENTIAL PORTIONS OF THIS DOCUMENT REDACTED AND SEPARATELY FILED WITH THE COMMISSION. 









					
		 	INVESTORS:
		
		 	[***] MAGELLAN FUND:
		 	[***] MAGELLAN FUND
			
		 	By:	 	 [***]

			
		 	Name:	 	 [***]

			
		 	Title:	 	 [***]

		
		 	[***] SELECT PORTFOLIOS:
		 	BIOTECHNOLOGY PORTFOLIO
			
		 	By:	 	 [***]

			
		 	Name:	 	 [***]

			
		 	Title:	 	 [***]

		
		 	[***] ADVISOR SERIES VII:
		 	[***] ADVISOR BIOTECHNOLOGY FUND
			
		 	By:	 	 [***]

			
		 	Name:	 	 [***]

			
		 	Title:	 	 [***]



  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED & RESTATED VOTING AGREEMENT 

[***] CONFIDENTIAL PORTIONS OF THIS DOCUMENT REDACTED AND SEPARATELY FILED WITH THE COMMISSION. 









					
		 	INVESTORS:
		
		 	VARIABLE INSURANCE PRODUCTS
FUND III: BALANCED PORTFOLIO
			
		 	By:	 	 [***]

			
		 	Name:	 	 [***]

			
		 	Title:	 	 [***]

		
		 	[***] ADVISOR SERIES I:
		 	[***] ADVISOR DIVIDEND GROWTH FUND
			
		 	By:	 	 [***]

			
		 	Name:	 	 [***]

			
		 	Title:	 	 [***]

		
		 	[***] SECURITIES FUND:
		 	[***] DIVIDEND GROWTH FUND
			
		 	By:	 	 [***]

			
		 	Name:	 	 [***]

			
		 	Title:	 	 [***]



  
 SIGNATURE
PAGE TO KALOBIOS PHARMACEUTICALS, INC. 
 AMENDED & RESTATED VOTING AGREEMENT 

[***] CONFIDENTIAL PORTIONS OF THIS DOCUMENT REDACTED AND SEPARATELY FILED WITH THE COMMISSION. 









					
		 	INVESTORS:
		
		 	[***] RUTLAND SQUARE TRUST II:
		 	STRATEGIC ADVISERS CORE
MULTI-MANAGER FUND
			
		 	By:	 	 [***]

			
		 	 Name:	 	 [***]

			
		 	 Title:	 	 [***]

		
		 	[***] RUTLAND SQUARE TRUST II:
		 	STRATEGIC ADVISERS CORE FUND
			
		 	By:	 	 [***]

			
		 	 Name:	 	 [***]

			
		 	 Title:	 	 [***]

		
	Address for Notices:  	 	[***]


  
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		 	INVESTORS:
		
		 	Mitsubishi UFJ Capital II, Limited partnership
		
		 	by: Mitsubishi UFJ Capital its General Partner
				
		 	By:	 	 /s/ Yoshihiro Hashimoto
	 	
		
		 	Name: Yoshihiro Hashimoto
		
		 	Title: President

  

 

					
		 	Address:  	  	1-7-17 Nihonbashi, Chuo-ku
		 		  	Tokyo, 103-0027, Japan
		 		  	Fax- 81-3-3273-5570


  
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		 	INVESTORS:
		
		 	GENZYME CORPORATION
			
		 	By:	 	 /s/ David Meeker

			
		 	 Name:	 	 David Meeker

			
		 	 Title:	 	 President and Chief Executive Officer

		
	Address:  	 	Genzyme Corporation
		 	500 Kendall Street
		 	Cambridge, MA 02142


  
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		 	INVESTORS:
		
		 	MPM BIOVENTURES III, L.P.
		
		 	By:  MPM BioVentures III GP, L.P., its General Partner
		 	By:  MPM BioVentures III LLC, its General Partner
				
		 	By:	 	 /s/ Dennis Henner
	 	
		 	Name:	 	 Dennis Henner
	 	
		 	Title: Series A Member
		
		 	MPM BIOVENTURES III-QP, L.P.
		
		 	By:  MPM BioVentures III GP, L.P., its General Partner
		 	By:  MPM BioVentures III LLC, its General Partner
				
		 	By:	 	 /s/ Dennis Henner
	 	
		 	Name:	 	 Dennis Henner
	 	
		 	Title: Series A Member
		
		 	MPM BIOVENTURES III GMBH & CO. BETEILIGUNGS KG
		
		 	By:  MPM BioVentures III GP, L.P., in its capacity as the Managing Limited Partner
		 	By:  MPM BioVentures III LLC, its General Partner
				
		 	By:	 	 /s/ Dennis Henner
	 	
		 	Name:	 	 Dennis Henner
	 	
		 	Title: Series A Member


  
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		 	MPM BIOVENTURES III PARALLEL FUND, L.P.
		
		 	By:  MPM BioVentures III GP, L.P., its General Partner
		 	By:  MPM BioVentures III LLC, its General Partner
				
		 	By:	 	 /s/ Dennis Henner
	 	
		 	Name:	 	 Dennis Henner
	 	
		 	Title: Series A Member
		
		 	MPM ASSET MANAGEMENT INVESTORS 2005 BVIII LLC
				
		 	By:	 	 /s/ Dennis Henner
	 	
		 	Name:	 	 Dennis Henner
	 	
		 	Title: Manager
		
		 	MPM BIOVENTURES STRATEGIC FUND, L.P.
		
		 	By:  MPM BioVentures III GP, L.P., its General Partner
		 	By:  MPM BioVentures III LLC, its General Partner
				
		 	By:	 	 /s/ Dennis Henner
	 	
		 	Name:	 	 Dennis Henner
	 	
		 	Title: Series A Member


  
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		 	INVESTORS:
		
		 	SOFINNOVA VENTURE PARTNERS V, LP
		 	By:	 	Sofinnova Management V 2005, LLC
		 		 	Its General Partner
			
		 	By:	 	 /s/ James Healy

		 		 	James I. Healy, Managing Director
		
		 	SOFINNOVA VENTURE AFFILIATES V, LP
		 	By:	 	Sofinnova Management V, LLC
		 		 	Its General Partner
			
		 	By:	 	 /s/ James Healy

		 		 	James I. Healy, Managing Director
		
		 	SOFINNOVA VENTURE PRINCIPALS V, LP
		 	By:	 	Sofinnova Management V, LLC
		 		 	Its General Partner
			
		 	By:	 	 /s/ James Healy

		 		 	James I. Healy, Managing Director


  
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		 	INVESTORS:
		
		 	ALLOY PARTNERS 2000, L.P.
		 	ALLOY VENTURES 2000, L.P.
		 	ALLOY CORPORATE 2000, L.P.
		 	ALLOY INVESTORS 2000, L.P.
		 	ALLOY ANNEX I, L.P.
			
		 		 	 /s/ [Illegible]

		 	By:	 	Alloy Ventures 2000, LLC,
		 		 	its General Partner
		
	Address:  	 	480 Cowper Street, 2nd Floor
		 	Palo Alto, CA 94301


  
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		 	INVESTORS:
		
		 	5AM VENTURES LLC
			
		 	By:	 	 /s/ [Illegible]

			
		 	Name:	 	  

			
		 	Title:	 	  



 

			
	Address:  	 	2200 Sand Hill Road, Suite 110
		 	Menlo Park, CA 94025

  

					
		 	5AM CO-INVESTORS LLC
			
		 	By:	 	 /s/ [Illegible]

			
		 	Name:	 	  

			
		 	Title:	 	  



 

			
	Address:  	 	2200 Sand Hill Road, Suite 110
		 	Menlo Park, CA 94025


  
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		 	INVESTORS:
		
		 	LB I GROUP INC.
			
		 	By:	 	 /s/ Ashvin Rao

			
		 	Name:	 	 Ashvin Rao

			
		 	Title:	 	 Vice President



  
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		 	INVESTORS:	 	

  

					
		 	Signed for and on behalf of GBS Venture Partners Limited (ABN 54 072 515 247) in its capacity as trustee of GBS BioVentures II
			
		 	 /s/ Brigitte Smith
	  	 /s/ Geoff Brooke

		 	Director	  	Director
			
		 	 Brigitte Smith
	  	 Geoff Brooke

		 	Name	  	Name
		
		 	Signed for and on behalf of GBS Venture Partners Limited (ABN 54 072 515 247) in its capacity as trustee of the Genesis Fund
			
		 	 /s/ Brigitte Smith
	  	 /s/ Geoff Brooke

		 	Director	  	Director
			
		 	 Brigitte Smith
	  	 Geoff Brooke

		 	Name	  	Name

  

					
		 	Address:  	  	 Level 5, 71 Collins St.

		 		  	 Melbourne, VIC, Australia



  
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		 	INVESTORS:
		
		 	G&H PARTNERS
			
		 	By:	 	 /s/ Jonathan Gleason

			
		 	Name:	 	 Jonathan Gleason

			
		 	Title:	 	  



 

			
	Address:  	 	c/o Gunderson Dettmer
		 	1200 Seaport Blvd.
		 	Redwood City, CA 94063


  
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		 	INVESTORS:
		
		 	BAXTER INTERNATIONAL INC.
			
		 	By:	 	 /s/ Michael Baughman

			
		 	Name:	 	 Michael Baughman

			
		 	Title:	 	 CVP Controller



 

			
	Address:  	 	One Baxter Parkway
		 	Deerfield, IL 60015-4625


  
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		 	COMMON HOLDERS:
		
		 	 /s/ Dan Shochat

		 	Dan Shochat
		
	Address:  	 	  

		 	  

		
		 	 /s/ Geoffrey Yarranton

		 	Geoffrey Yarranton
		
	Address:  	 	  

		 	  

		
		 	 /s/ David Pritchard

		 	David Pritchard
		
	Address:  	 	  

		 	  



  
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 EXHIBIT A 
 GBS Venture Partners Limited, as trustee of the Bioscience Ventures II Fund and the Genesis Fund 

Lotus BioScience Investment Holdings Ltd. 
 5AM
Investors, LLC 
 5AM Co-Investors, LLC 

Singapore Bio-Innovations Pte Ltd. 
 Sofinnova
Venture Partners V, LP 
 Sofinnova Ventures Affiliates V, LP 
 Sofinnova Venture Principals V, LP 
 Alloy Partners 2000, L.P. 

Alloy Ventures 2000, L.P. 
 Alloy Corporate 2000,
L.P. 
 Alloy Investors 2000, L.P. 

Alloy Annex I, L.P. 
 Robert Balint 

James Larrick 
 MPM BioVentures III, L.P.

 MPM BioVentures III-QP, L.P. 
 MPM
BioVentures III GmbH & Co. Beteiligungs KG 
 MPM BioVentures III Parallel Fund, L.P. 

MPM Asset Management Investors 2005 BVIII LLC 

MPM BioVentures Strategic Fund, L.P. 
 Howard
Baer 
 Stuart E. Builder 
 George Sachs

 LB I Group Inc. 
 Mitsubishi UFJ
Capital II, Limited partnership 
 Genzyme Corporation 
 G&H Partners 
 Montgomery & Co., LLC 

Baxter International Inc. 
 Development Bank of
Japan 
 [***] Advisor Series I: [***] Advisor Dividend Growth Fund 
 [***] Advisor Series VII: [***] Advisor Biotechnology Fund 
 [***] Magellan Fund: [***] Magellan
Fund 
 [***] Rutland Square Trust II: Strategic Advisers Core Fund 
 [***] Rutland Square Trust II: Strategic Advisers Core Multi-Manager Fund 
 [***] Securities Fund:
[***] Dividend Growth Fund 
 [***] Select Portfolios: Biotechnology Portfolio 
 Variable Insurance Products Fund III: Balanced Portfolio 

  
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 EXHIBIT B 
 Robert F. Balint, PhD 
 Geoffrey Yarranton 
 Dan Shochat 
 David Pritchard 
 5AM Ventures LLC 
 5AM Co-Investors LLC 

  
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 EXHIBIT C 
 ADOPTION AGREEMENT 
 This Adoption Agreement
(“Adoption Agreement”) is executed by the undersigned (the “Transferee”) pursuant to the terms of that certain Amended and Restated Voting Agreement dated as of May 2, 2012 (the “Agreement”) by
and among the Company and certain of its Stockholders. Capitalized terms used but not defined herein shall have the respective meanings ascribed to such terms in the Agreement. By the execution of this Adoption Agreement, the Transferee agrees as
follows: 
 (a)      Acknowledgment.    Transferee
acknowledges that Transferee is acquiring certain shares of the capital stock of the Company (the “Stock”), subject to the terms and conditions of the Agreement. 

(b)      Agreement.    Transferee (i) agrees that the
Stock acquired by Transferee shall be bound by and subject to the terms of the Agreement, and (ii) hereby adopts the Agreement with the same force and effect as if Transferee were originally a Party thereto. 

(c)      Notice.  Any notice required or permitted by the Agreement shall
be given to Transferee at the address listed beside Transferee’s signature below. 
 EXECUTED AND DATED
this           day of
                            ,       . 

 

							
	 	 	 	 	TRANSFEREE:
				
		 		 	By:	 	  

		 		 		 	Name and Title
			
		 	Address:	 	  

		 		 	  

			
		 	Fax:	 	  


  

			
	Accepted and Agreed:
	
	KALOBIOS PHARMACEUTICALS, INC
		
	By:	 	  



			
		
	Name:	 	  



			
		
	Title:	 	  



  
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