Document:

EX-10.5

 Exhibit 10.5 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS
DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY
CAUSE COMPETITIVE HARM TO DERMAVANT SCIENCES LTD. IF PUBLICLY DISCLOSED. 

Execution Copy 
 LICENSE
AGREEMENT 
 between 

ASTRAZENECA AB 
 and

 ROIVANT SCIENCES GmbH 

Dated as of September 19, 2017 

 TABLE OF CONTENTS 

[Note to Draft: To be inserted.] 

SCHEDULES 
 Schedule A – AstraZeneca Patents
 
 Schedule B – Transition Plan 

Schedule C – [***] 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 I 

 LICENSE AGREEMENT 

This License Agreement (the “Agreement”) is made and entered into effective as of September 19, 2017 (the
“Effective Date”) by and between AstraZeneca AB, a company incorporated in Sweden under no. 556011-7482 with its registered office at SE-151 85 Södertälje, Sweden and with offices at
SE-431 83 Mölndal, Sweden (“AstraZeneca”) and Roivant Sciences GmbH, a company organized and existing pursuant to the laws of Switzerland having a principal place of business at
Viaduktstrasse 8, Basel 4051, Switzerland (“Licensee”). AstraZeneca and Licensee are sometimes referred to herein individually as a “Party” and collectively as the “Parties.” 

Recitals 
 WHEREAS,
AstraZeneca owns and controls certain intellectual property rights with respect to the Licensed Compound (as defined herein) and Licensed Products (as defined herein) in the Territory (as defined herein); and 

WHEREAS, AstraZeneca wishes to grant a license to Licensee and Licensee wishes to take a license under such intellectual property
rights to develop and commercialize Licensed Products in the Territory, in each case in accordance with the terms and conditions set forth below. 

NOW, THEREFORE, in consideration of the premises and the mutual promises and conditions set forth herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, do hereby agree as follows: 

Article 1 
 DEFINITIONS

 Unless otherwise specifically provided herein, the following terms shall have the following meanings: 

[***] 

“Affiliate” means, with respect to a Party, any Person that, directly or indirectly, through one (1) or more
intermediaries, controls, is controlled by or is under common control with such Party. For purposes of this definition, “control” and, with correlative meanings, the terms “controlled by” and “under common
control with” means: (i) the possession, directly or indirectly, of the power to direct the management or policies of a business entity, whether through the ownership of voting securities, by contract relating to voting rights or
corporate governance or otherwise; or (ii) the ownership, directly or indirectly, of fifty percent (50%) or more of the voting securities or other ownership interest of a business entity (or, with respect to a limited partnership or other
similar entity, its general partner or controlling entity). 
 “Agreement” has the meaning set forth in the preamble
hereto. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

 “Anti-Corruption Laws” means the U.S. Foreign Corrupt Practices Act of
1977, as amended, the UK Bribery Act 2010, as amended, and, to the extent applicable, any other applicable anti-corruption laws and laws for the prevention of fraud, racketeering, money laundering or terrorism. 

“Applicable Law” means applicable laws, rules and regulations, including any rules, regulations, legally binding guidelines
or other requirements of the Regulatory Authorities that may be in effect from time to time, including the FFDCA and the Anti-Corruption Laws. 

“Arbitration Notice” has the meaning set forth in Section 10.5.2 (Dispute Resolution). 

“Arbitrators” has the meaning set forth in Section 10.5.2 (Dispute Resolution). 

“AstraZeneca” has the meaning set forth in the preamble hereto. 

“AstraZeneca Know-How” means Information that is Controlled by AstraZeneca or any of
its Affiliates as of the Effective Date and that is reasonably necessary for the Exploitation of the Licensed Compound or a Licensed Product, but excluding any Information to the extent covered or claimed by published AstraZeneca Patents. 

“AstraZeneca Patents” means (i) all Patents in the Territory Controlled by AstraZeneca or any of its Affiliates, as of
the Effective Date, that claim any Licensed Compound or Licensed Product, or its manufacture, formulation or use, including the Patents that are listed on Schedule A; and (ii) all Patents that claim or cover, or otherwise are based upon,
AstraZeneca Know-How as filed for by Licensee in AstraZeneca’s name in accordance with Section 5.2.2 (Maintenance and Prosecution of AstraZeneca Patents; In General). 

“AstraZeneca Regulatory Documentation” means the Regulatory Documentation Controlled by AstraZeneca or any of its Affiliates
as of the Effective Date (as well as any updates thereto during the Term if any) exclusively relating to the Licensed Compound in the Field in the Territory. 

“Auditor” has the meaning set forth in Section 4.10 (Audit Dispute). 

“Authorized Generic Version” means, with respect to a pharmaceutical product, any other pharmaceutical product sold by or on
behalf of Licensee or its Affiliates that (i) is sold under the Drug Approval Application for the first product or any supplement or amendment thereto, (ii) is sold under a different Trademark than the first product and (iii) has a
National Drug Code, or NDC, number that differs from the NDC number for the first product (other than on a temporary basis as may be necessary to launch the second product in the Territory). 

“Background Intellectual Property” has the meaning set forth in Section 5.1.1 (Ownership of Intellectual Property;
Background Intellectual Property). 
 “Breaching Party” has the meaning set forth in Section 9.2.1 (Termination;
Material Breach). 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 2 

 “Business Day” means a day other than a Saturday or Sunday or a day on
which banking institutions are permitted or required to be closed in any of (i) New York, New York, U.S.A., (ii) Gothenburg, Sweden, (iii) London, England, and (iv) Basel, Switzerland. 

“Calendar Quarter” means each successive period of three (3) calendar months commencing on January 1, April 1, July 1
and October 1, except that the first Calendar Quarter of the Term shall commence on the Effective Date and end on the day immediately prior to the first to occur of January 1, April 1, July 1 or October 1 after the Effective Date
and the last Calendar Quarter shall end on the last day of the Term. 
 “Calendar Year” means each successive period of
twelve (12) calendar months commencing on January 1 and ending on December 31, except that the first Calendar Year of the Term shall commence on the Effective Date and end on December 31 of the year in which the Effective Date
occurs and the last Calendar Year of the Term shall commence on January 1 of the year in which the Term ends and end on the last day of the Term. 

“cGMP” means current Good Manufacturing Practices promulgated by the FDA, the EMA and the International Conference on
Harmonization (ICH). 
 “Combination Product” means a Licensed Product that is comprised of or contains the Licensed
Compound as an active ingredient together with one (1) or more other active ingredients and is sold either as a fixed dose/unit, as separate doses/units in a single package, or as separate units in separate packages for a single price. 

“Commercialization” means any and all activities directed to the preparation for sale of, offering for sale of or sale of a
Licensed Product, including activities related to marketing, promoting, distributing and importing such Licensed Product and interacting with Regulatory Authorities regarding any of the foregoing. When used as a verb, “to
Commercialize” and “Commercializing” means to engage in Commercialization and “Commercialized” has a corresponding meaning. 

“Commercially Reasonable Efforts” means, with respect to the performance of Development, Commercialization or Manufacturing
activities with respect to the Licensed Compound or a Licensed Product by Licensee, the carrying out of such activities using efforts and resources comparable to the efforts and resources commonly used in the research-based biopharmaceutical
industry by a company of comparable size for compounds or products of similar market potential at a similar stage in development or product life, taking into account the proprietary position of the product, the regulatory status and approval
process, the probable profitability of the applicable product, and other relevant factors such as technical, legal, scientific or medical factors. “Commercially Reasonable Efforts” shall be determined without regard to the particular
circumstances of Licensee, including any other product opportunities of Licensee and without regard to any payments owed by Licensee to AstraZeneca under this Agreement. Additionally, with respect to North America, Europe, and Asia-Pacific,
“Commercially Reasonable Efforts” shall be determined on a region-by-region basis. 

“Confidential Information” has the meaning set forth in Section 6.1 (Confidentiality Obligations). 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 3 

 “Control” means, with respect to any item of Information, Regulatory
Documentation, material, Patent or other intellectual property right, possession of the right, whether directly or indirectly and whether by ownership, license or otherwise (other than by operation of the license and other grants in Section 2.1
(Grants to Licensee)), to grant a license, sublicense or other right (including the right to reference Regulatory Documentation) to or under such Information, Regulatory Documentation, Patent or other intellectual property right as provided for
herein without violating the terms of any agreement with any Third Party. 
 “Controlling Party” has the meaning set forth
in Section 5.5 (Invalidity or Unenforceability Defenses or Actions). 
 “Corporate Names” means Trademarks, names and
logos specific to AstraZeneca and its Affiliates, as AstraZeneca may designate in writing from time to time. 
 “Delivery
System” means any delivery system comprising equipment, instrumentation, one or more devices, or other components designed to assist in, or useful for, the administration of the Licensed Compound. 

“Development” means all activities related to research, pre-clinical and other non-clinical testing, test method development and stability testing, toxicology, formulation, process development, manufacturing scale-up, qualification and validation,
quality assurance/quality control, clinical studies, including Manufacturing in support thereof, statistical analysis and report writing, the preparation and submission of Drug Approval Applications, regulatory affairs with respect to the foregoing
and all other activities necessary or reasonably useful or otherwise requested or required by a Regulatory Authority as a condition or in support of obtaining or maintaining a Regulatory Approval. When used as a verb, “Develop”
means to engage in Development. 
 “Dispute” has the meaning set forth in Section 10.5.1 (Dispute Resolution). 

“Dollars” or “$” means United States Dollars. 

“Drug Approval Application” means a New Drug Application as defined in the FFDCA or any corresponding foreign application in
the Territory, including, with respect to the European Union, a Marketing Authorization Application filed with the EMA pursuant to the centralized approval procedure or with the applicable Regulatory Authority of a country in Europe with respect to
the mutual recognition or any other national approval. 
 “Effective Date” has the meaning set forth in the preamble
hereto. 
 “EMA” means the European Medicines Agency and any successor agency thereto. 

“Enforcing Party” has the meaning set forth in Section 5.3.2 (Enforcement of Patents; Enforcement of Patents). 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 4 

 “European Union” means the economic, scientific and political organization
of member states as it may be constituted from time to time, which as of the Effective Date consists of Austria, Belgium, Bulgaria, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania,
Luxembourg, Malta, The Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the United Kingdom of Great Britain and Northern Ireland and that certain portion of Cyprus included in such organization. 

“Exploit” means to make, have made, import, use, sell or offer for sale, including to research, Develop, Commercialize,
register, Manufacture, have Manufactured, hold or keep (whether for disposal or otherwise), have used, export, transport, distribute, promote, market or have sold or otherwise dispose of. “Exploitation” means the act of Exploiting a
compound, product or process. 
 “FDA” means the United States Food and Drug Administration and any successor agency
thereto. 
 “FFDCA” means the United States Federal Food, Drug, and Cosmetic Act, as amended from time to time, together
with any rules, regulations and requirements promulgated thereunder (including all additions, supplements, extensions and modifications thereto). 

“Field” means all diagnostic, prophylactic and therapeutic uses in humans and animals. 

“First Commercial Sale” means, with respect to a Licensed Product and a country, the first sale for monetary value for use or
consumption by the end user of such Licensed Product in such country after Regulatory Approval for such Licensed Product has been obtained in such country. Sales prior to receipt of Regulatory Approval for such Licensed Product, such as so- called “treatment IND sales,” “named patient sales,” and “compassionate use sales,” shall not be construed as a First Commercial Sale. 

“Fiscal Year” means each successive period of twelve (12) calendar months commencing on April 1 and ending on March
31. 
 “GAAP” means, with respect to a Party or its Affiliates or its or their sublicensees, United States generally
accepted accounting principles, International Financial Reporting Standards or such other similar national standards as such Party, Affiliates or its or their sublicense adopts, in each case, consistently applied. 

“Generic Product” means, with respect to a particular mode of administration and dosage strength of a Licensed Product, any
other prescription pharmaceutical product that (i) contains the same active ingredient(s) as such Licensed Product, (ii) has the same mode of administration and dosage strength as such Licensed Product and (iii) is
“therapeutically equivalent” as evaluated by the FDA, applying the definition of “therapeutically equivalent” set forth in the preface to the FDA’s Orange Book: Approved Drug Products with Therapeutic Equivalence
Evaluations (the “Orange Book”) (or, with respect to any country in the Territory outside the United States, is similarly substitutable under equivalent Applicable Law in such country), to such Licensed Product. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 5 

 “Government Official” means (i) any Person employed by or acting on
behalf of a government, government-controlled agency or entity or public international organization, (ii) any political party, party official or candidate, (iii) any Person who holds or performs the duties of an appointment, office or
position created by custom or convention or (iv) any Person who holds himself out to be the authorized intermediary of any of the foregoing. 

“Hatch-Waxman Act” means the U.S. “Drug Price Competition and Patent Term Restoration Act” of 1984, as set forth at
21 U.S.C. §355(b)(2)(A)(iv) or (j)(2)(A)(vii)(IV). 
 “Improvements” means any invention, discovery, development or
modification with respect to the Licensed Compound or a Licensed Product or relating to the Exploitation thereof, whether or not patented or patentable, including any enhancement in the efficiency, operation, Manufacture, ingredients, preparation,
presentation, formulation, means of delivery (including the development of any Delivery System or enhancement thereto) or dosage of such Licensed Compound or Licensed Product, any discovery or development of any new or expanded indications for such
Licensed Compound or Licensed Product, or any discovery or development that improves the stability, safety or efficacy of such Licensed Compound or Licensed Product. 

“IND” means (i) an investigational new drug application filed with the FDA for authorization to commence clinical
studies, and its equivalent in other countries or regulatory jurisdictions and (ii) all supplements and amendments that may be filed with respect to the foregoing. 

“Indemnification Claim Notice” has the meaning set forth in Section 8.3.1 (Indemnification Procedures; Notice of Claim).

 “Indemnified Party” has the meaning set forth in Section 8.3.1 (Indemnification Procedures; Notice of Claim). 

“Indication” means a primary sickness or medical condition or any interruption, cessation or disorder of a particular bodily
function, system or organ (each a “disease”) requiring a separate Phase 3 Study to obtain Regulatory Approval to market and sell a Licensed Product for such disease, and shall include sub-types of
the same disease and pediatric populations of the same disease, i.e. such subtypes and pediatric populations shall be part of the indication and shall not be treated as a separate indication. [***] 

“Indirect Taxes” means VAT, sales taxes, consumption taxes and other similar taxes required by law to be disclosed on the
invoice. 
 “Information” means all technical, scientific and other know-how and
information, trade secrets, knowledge, technology, means, methods, processes, practices, formulae, instructions, skills, techniques, procedures, experiences, ideas, technical assistance, designs, drawings, assembly procedures, computer programs,
apparatuses, specifications, data, results and other material, including: biological, chemical, pharmacological, toxicological, pharmaceutical, physical and analytical, pre-clinical, clinical, safety,
manufacturing and quality control data and information, including study designs and protocols, assays and biological methodology, in each case (whether or not confidential, proprietary, patented or patentable) in written, electronic or any other
form now known or hereafter developed. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 6 

 “Infringement” has the meaning set forth in Section 5.3.1 (Enforcement
of Patents; Notice). 
 “Initiation” means, with respect to a clinical study, the first dosing of the first human subject
in such clinical study. 
 “Invalidity Claim” has the meaning set forth in Section 5.5 (Invalidity or Unenforceability
Defenses or Actions). 
 “Invoiced Sales” has the meaning set forth in the definition of “Net Sales.” 

“Licensed Compound” means (a) the pharmaceutical compound known as [***] and (b) any compound claimed by an AstraZeneca
Patent listed on Schedule A, and for both (a) and (b), including any and all forms of such compound and any salt, ester, hydrate, solvate, free acid form, free base form, crystalline form, co-crystalline
form, amorphous form, polymorph, chelate, isomer, enantiomer, racemate, stereoisomer, tautomer or optically active form of any of the foregoing. 

“Licensed Product” means any product that is comprised of or contains the Licensed Compound, in any and all forms,
presentations, dosages and formulations, which, for clarity, shall include any Delivery Systems that are sold with, or for the administration of, such Licensed Compound. 

“Licensee” has the meaning set forth in the preamble hereto. 

“Licensee Know-How” means all Information Controlled by Licensee or any of its
Affiliates or its or their Sublicensees that is generated by or on behalf of Licensee or any of its Affiliates or its or their Sublicensees at any time during the Term in connection with the Development or Commercialization of the Licensed Compound
or Licensed Product that is (i) not generally known and (ii) reasonably necessary for the Exploitation of the Licensed Compound or Licensed Product but excluding any Information to the extent covered or claimed by published Licensee
Patents. 
 “Licensee Patents” means all of the Patents Controlled by Licensee or any of its Affiliates or its or their
Sublicensees claiming Information that is made or conceived by Licensee or any of its Affiliates or its or their Sublicensees at any time during the Term in connection with the Development or Commercialization of the Licensed Compound or Licensed
Product that are reasonably necessary (or, with respect to Patent applications, would be necessary if such Patent applications were to issue as Patents) for the Exploitation of the Licensed Compound or Licensed Product. 

“Licensee Representatives” has the meaning set forth in Section 7.6.1 (Anti-Bribery and Anti-Corruption Compliance).

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 7 

 “Losses” has the meaning set forth in Section 8.1 (Indemnification of
AstraZeneca). 
 “Manufacture” and “Manufacturing” means all activities related to the production,
manufacture, processing, filling, finishing, packaging, labeling, shipping and holding of a product or any intermediate thereof, including process development, process qualification and validation, scale-up, pre-clinical, clinical and commercial manufacture and analytic development, product characterization, stability testing, quality assurance and quality control. 

“Material Anti-Corruption Law Violation” means a violation by Licensee or a Sublicensee of an applicable Anti-Corruption Law
relating to the subject matter of this Agreement that would, if it were publicly known, have a material adverse effect on AstraZeneca or on the reputation of AstraZeneca because of its relationship with Licensee. 

“Net Sales” means, with respect to a Licensed Product for any period, the gross amount billed or invoiced by Licensee, its
Affiliates or its or their Sublicensees (including distributors of Authorized Generic Versions of Licensed Product(s)) to Third Parties for the sale of a Licensed Product (the “Invoiced Sales”), less deductions for: 

 

	 	(1)	 [***] 

  

	 	(2)	 [***] 

  

	 	(3)	 [***] 

  

	 	(4)	 [***] 

  

	 	(5)	 [***] 

  

	 	(6)	 [***] 

  

	 	(7)	 [***] 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 8 

	 	(8)	 [***] 

  

	 	(9)	 [***] 

Any of the deductions listed above that involves a payment by Licensee, its Affiliates or its or their Sublicensees shall be taken as a
deduction in the [***] in which the payment is accrued by such entity. For purposes of determining Net Sales, a Licensed Product shall be deemed sold when invoiced and a “sale” shall [***], in each case without charge. Licensee’s, its
Affiliates’ or its or their Sublicensees’ transfer of any Licensed Product to an Affiliate or Sublicensee shall not result in any Net Sales, unless such Licensed Product is consumed or administered by such Affiliate or Sublicensee in the
course of its commercial activities. With respect to any Licensed Product that is consumed or administered by Licensee or its Affiliates or its or their Sublicensees ([***]), Net Sales shall include any amount received with respect to such
consumption or administration, including any services provided in connection therewith. 
 In the event that a Licensed Product is sold in
any country in the form of a Combination Product, Net Sales of such Combination Product shall be adjusted by multiplying actual Net Sales of such Combination Product in such country calculated pursuant to the foregoing definition of “Net
Sales” by the fraction A/(A+B), where A is the average invoice price in such country of any Licensed Product that contains the same Licensed Compound(s) as such Combination Product as its sole active ingredient(s), if sold separately in such
country and B is the average invoice price in such country of each product that contains active ingredient(s) other than the Licensed Compound(s) contained in such Combination Product as its sole active ingredient(s), if sold separately in such
country; provided that the invoice price in a country for each Licensed Product that contains only the Licensed Compound(s) and each product that contains solely active ingredient(s) other than the Licensed Compound(s) included in the
Combination Product shall be for a quantity comparable to that used in such Combination Product and of substantially the same class, purity and potency. If either such Licensed Product that contains the Licensed Compound(s) as its sole active
ingredient or a product that contains an active ingredient (other than the Licensed Product) in the Combination Product as its sole active ingredient(s) is not sold separately in a particular country, the Parties shall negotiate in good faith a
reasonable adjustment to Net Sales in such country that takes into account the medical contribution to the Combination Product of and all other factors reasonably relevant to the relative value of, the Licensed Compound(s), on the one hand and all
of the other active ingredient(s), collectively, on the other hand. 
 In the case of pharmacy incentive programs, hospital performance
incentive programs, chargebacks, disease management programs, similar programs or discounts on portfolio product offerings, all rebates, discounts and other forms of reimbursements shall be allocated among products on the basis on which such
rebates, discounts and other forms of reimbursements were 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 9 

 
actually granted or, if such basis cannot be determined, in accordance with Licensee’s, its Affiliates’ or its or their Sublicensees’ existing allocation method; provided
that any such allocation to a Licensed Product shall be (i) done in accordance with Applicable Law, including any price reporting laws, rules and regulations and (ii) subject to clause (i), in no event no greater than a pro rata
allocation, such that the portion of each of foregoing rebates, discounts and other forms of reimbursements shall not be included as deductions from Invoiced Sales hereunder in any amount greater than the proportion of the undiscounted dollar value
of such Licensed Product sold by Licensee, its Affiliates or its or their Sublicensees to Third Parties hereunder compared to the undiscounted dollar value of all the products sold by Licensee, such Affiliates and such Sublicensees to Third Parties
to which such foregoing rebate, discount or other form of reimbursement, as applicable, are granted. 
 Subject to the above, Net Sales
shall be calculated in accordance with the standard internal policies and procedures of Licensee, its Affiliates or its or their Sublicensees, which must be in accordance with GAAP. 

“Non-Breaching Party” has the meaning set forth in Section 9.2.1 (Termination;
Material Breach). 
 “Notice Period” has the meaning set forth in Section 9.2.1 (Termination; Material Breach).
“Party” and “Parties” have the meaning set forth in the preamble hereto. 
 “Patents”
means: (i) all national, regional and international patents and patent applications, including provisional patent applications; (ii) all patent applications filed either from such patents, patent applications or provisional applications or
from an application claiming priority from either of these, including divisionals, continuations, continuations-in-part, provisionals, converted provisionals and
continued prosecution applications; (iii) any and all patents that have issued or in the future issue from the foregoing patent applications ((i) and (ii)), including utility models, petty patents, innovation patents and design patents and
certificates of invention; (iv) any and all extensions or restorations by existing or future extension or restoration mechanisms, including revalidations, reissues, re-examinations and extensions
(including any supplementary protection certificates and the like) of the foregoing patents or patent applications ((i), (ii) and (iii)); and (v) any similar rights, including so-called pipeline
protection or any importation, revalidation, confirmation or introduction patent or registration patent or patent of additions to any of such foregoing patent applications and patents. 

“Payment” has the meaning set forth in Section 4.6.1 (Taxes; General). 

“Person” means an individual, sole proprietorship, partnership, limited partnership, limited liability partnership,
corporation, limited liability company, business trust, joint stock company, trust, unincorporated association, joint venture or other similar entity or organization, including a government or political subdivision, department or agency of a
government. 
 “Phase I Study” means the first clinical study conducted in humans, as described in 21 CFR 312.21(a), or an
equivalent clinical study required by a Regulatory Authority in a jurisdiction outside of the United States. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 10 

 “Phase II Study” means a clinical study in humans that is intended to
explore a variety of doses, dose response and duration of effect to generate initial evidence of clinical safety and activity in a target patient population, that would satisfy the requirements of 21 CFR 312.21(b), or an equivalent clinical study
required by a Regulatory Authority in a jurisdiction outside of the United States. 
 “Phase IIb Study” means a further
Phase II Study for a Licensed Product for the same Indication that is intended to identify the definite dose range for efficacy at the primary endpoint for that Indication. 

“Phase III Study” means a clinical study in humans performed to gain evidence of statistical significance of the efficacy of
a Licensed Product in a target patient population, and to obtain expanded evidence of safety for such Licensed Product that is needed to evaluate the overall benefit-risk relationship of such Licensed Product and provide an adequate basis for
obtaining Regulatory Approval, including physician labeling, as described in 21 CFR 312.21(c), or an equivalent clinical study required by a Regulatory Authority in a jurisdiction outside of the United States. 

“PMDA” means the Pharmaceuticals and Medical Devices Agency for Japan and any successor agency thereto. 

“Program Data Package” means a written update to any reports or summaries previously delivered under Sections 3.3.4
(Development; Development Reports) and 3.5.4 (Commercialization; Commercialization Reports) to the date of notice of termination, and all clinical protocols for ongoing clinical trials and detailed estimated costs for conducting such trials
(including all costs committed in contracts with third parties). For the avoidance of doubt, the Program Data Package shall include at least the investigator brochures and clinical study reports (each in preliminary (unless finalized) and final
form) for all Licensed Compounds and Licensed Products. 
 “Prosecuting Party” has the meaning set forth in
Section 5.2.2 (Maintenance and Prosecution of AstraZeneca Patents; In General). 
 “Regulatory Approval” means, with
respect to a country in the Territory, any and all approvals (including Drug Approval Applications), licenses, registrations or authorizations of any Regulatory Authority necessary to commercially distribute, sell or market a Licensed Product in
such country, including, where applicable, (i) pricing or reimbursement approval in such country, (ii) pre- and post-approval marketing authorizations (including any prerequisite Manufacturing approval or
authorization related thereto) and (iii) labeling approval. 
 “Regulatory Authority” means any applicable
supra-national, federal, national, regional, state, provincial or local regulatory agencies, departments, bureaus, commissions, councils or other government entities regulating or otherwise exercising authority with respect to the Exploitation of
Licensed Compound or Licensed Products in the Territory, including the FDA in the United States and the EMA in the European Union. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 11 

 “Regulatory Documentation” means: all (i) applications (including all
INDs and Drug Approval Applications), registrations, licenses, authorizations and approvals (including Regulatory Approvals); (ii) correspondence and reports submitted to or received from Regulatory Authorities (including minutes and official
contact reports relating to any communications with any Regulatory Authority) and all supporting documents with respect thereto, including all adverse event files and complaint files; and (iii) clinical and other data contained or relied upon
in any of the foregoing; in each case ((i), (ii) and (iii)) relating to the Licensed Compound or a Licensed Product. 
 “Regulatory
Exclusivity Period” means, with respect to each Licensed Product in any country in the Territory, any period of data, market or other regulatory exclusivity (other than Patent exclusivity) granted or afforded by Applicable Law or by a
Regulatory Authority in such country that prevents the sale and use by a Person of all Generic Products with respect to such Licensed Product in such country. Such data, market or other regulatory exclusivity may include new chemical entity
exclusivity, new use or indication exclusivity, new formulation exclusivity, orphan drug exclusivity, non-patent related pediatric exclusivity or any other applicable marketing or data exclusivity, including
any such periods listed in the FDA’s Orange Book or any such periods under national implementations in the EU of Article 10 of Directive 2001/83/ED, Article 14(11) of Parliament and Council Regulation (EC) No. 726/2004, Parliament and
Council Regulation (ED) No. 141/2000 on orphan medicines, Parliament and Council Regulation (ED) No. 1901/2006 on medicinal products for pediatric use and all international equivalents of any of the foregoing. 

“Retained Rights” mean, with respect to the Licensed Compound and Licensed Products in the Field in the Territory, the rights
of AstraZeneca, its Affiliates and its and their licensors, (sub)licensees and contractors to (i) perform its and their obligations under this Agreement; (ii) develop, obtain and maintain regulatory approvals for and to Manufacture,
commercialize and otherwise Exploit any compound or product (including the Licensed Compound and Licensed Products) outside the Territory; and (iii) Manufacture and Develop and otherwise use the Licensed Compound or Licensed Products in the
Territory for Exploitation outside the Territory. 
 “[***]” has the meaning set forth in Section 2.4.1 ([***]). 

“[***]” has the meaning set forth in Section 2.4.1 ([***]). 

“[***]” has the meaning set forth in Section 2.4.1 ([***]). 

“Royalty Term” means, with respect to each Licensed Product and each country in the Territory, the period beginning on the
date of the First Commercial Sale of such Licensed Product in such country and ending on the latest to occur of: (i) the expiration of the last-to-expire
AstraZeneca Patent in such country that contains a Valid Claim that claims the Licensed Compound included in such Licensed Product as a composition of matter or a method of treatment or other use of such Licensed Compound for all indications for
which Regulatory Approval has been received for such Licensed Product in such country; (ii) the expiration of Regulatory Exclusivity Period in such country for such Licensed Product; and (iii) the tenth (10th) anniversary of the First
Commercial Sale of the first Licensed Product in such country. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 12 

 “Senior Officer” means, with respect to AstraZeneca, its Vice President,
Scientific Partnering & Alliances and, with respect to Licensee, its Chief Business Officer. 
 “Subcontractor”
means a Person that performs services for or conducts activities on behalf of Licensee or its Affiliates, including clinical research organizations, contract manufacturers and logistic service providers. 

“Sublicensee” means a Person, other than an Affiliate, that is granted a sublicense by Licensee or its Affiliate under the
grants in Section 2.1 (Grants to Licensee), as provided in Section 2.2 (Sublicenses), including any distributors of Authorized Generic Versions of a Licensed Product, irrespective of whether such distributor is granted a sublicense
hereunder. 
 “Tax” or “Taxes” means (a) all federal, provincial, territorial, state, municipal,
local, foreign or other taxes, imposts, rates, levies, assessments and other charges in the nature of a tax (and all interest and penalties thereon and additions thereto imposed by any governmental authority), including without limitation all
income, excise, franchise, gains, capital, real property, good and services, transfer, [***], gross receipts, windfall profits, severance, ad valorem, personal property, production, sales, use, license, stamp, documentary stamp, mortgage recording,
employment, payroll, social security, unemployment, disability, escheat, estimated or withholding taxes, and all customs and import duties, together with all interest, penalties and additions thereto imposed with respect to such amounts, in each
case whether disputed or not; (b) any liability for the payment of any amounts of the type described in clause (a) as a result of being or having been a member of an affiliated, consolidated, combined or unitary group; and (c) any
liability for the payment of any amounts as a result of being party to any tax sharing agreement or arrangement or as a result of any express or implied obligation to indemnify any other person with respect to the payment of any amounts of the type
described in clauses (a) or (b). 
 “Term” has the meaning set forth in Section 9.1 (Term and Expiration). 

“Terminated Territory” means each region with respect to which this Agreement is terminated by AstraZeneca pursuant to
Section 9.2.1 or, if this Agreement is terminated in its entirety, the entire Territory. 
 “Termination Notice” has
the meaning set forth in Section 9.2.1 (Termination; Material Breach). 
 “Territory” means the entire world, other
than any Terminated Territory. 
 “Third Party” means any Person other than AstraZeneca, Licensee and their respective
Affiliates. 
 “Third Party Claims” has the meaning set forth in Section 8.1 (Indemnification of AstraZeneca). 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 13 

 “Third Party Infringement Claim” has the meaning set forth in
Section 5.4 (Infringement Claims by Third Parties). 
 “Third Party Patent Right” has the meaning set forth in
Section 5.6 (Third Party Patent Rights). 
 “Top Line Data” means, with respect to a clinical study, a summary of
demographic data, the data for the primary endpoint and a summary of safety data, which are based upon an unblinded, locked database. All such data will be collected in a database validated in accordance with 21 CFR Part 11 and with full audit
trail. 
 “Trademark” means any word, name, symbol, color, shape, designation or any combination thereof, including any
trademark, service mark, trade name, brand name, sub-brand name, trade dress, product configuration rights, program name, delivery form name, certification mark, collective mark, logo, tagline, slogan, design
or business symbol, that functions as an identifier of source, origin or quality, whether or not registered, and all statutory and common law rights therein and all registrations and applications therefor, together with all goodwill associated with,
or symbolized by, any of the foregoing. 
 “Transition Plan” has the meaning set forth in Section 3.1 (Transition
Plan). 
 “Transfer Activities” has the meaning set forth in Section 3.1 (Transition Plan). 

“United States” or “U.S.” means the United States of America and its territories and possessions (including
the District of Columbia and Puerto Rico). 
 “Valid Claim” means (i) a claim of any issued and unexpired Patent whose
validity, enforceability or patentability has not been affected by (a) irretrievable lapse, abandonment, revocation, dedication to the public or disclaimer or (b) a holding, finding or decision of invalidity, unenforceability or non-patentability by a court, governmental agency, national or regional patent office or other appropriate body that has competent jurisdiction, such holding, finding or decision being final and unappealable or
unappealed within the time allowed for appeal or (ii) a claim of a pending Patent application that was filed and is being prosecuted in good faith and has not been abandoned or finally disallowed without the possibility of appeal or re-filing of the application; provided that such pending Patent application has not been pending for more than [***] from its earliest priority date; further provided that if such claim is later
issued, it shall from the issuance date forward be deemed to be a Valid Claim. For clarity, any claim in a pending application that is filed after [***] from its earliest priority date shall not be considered a Valid Claim until such claim is
granted and meets the requirement of subsection (i). 
 “VAT” has the meaning set forth in Section 4.6.2 (Taxes; Value
Added Tax). 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 14 

 Article 2 

GRANT OF RIGHTS 

2.1. Grants to Licensee. Subject to Sections 2.2 (Sublicenses) and 2.3 (Retention of Rights; Limitations Applicable to License
Grants) and the other terms and conditions of this Agreement, AstraZeneca hereby grants to Licensee: 
 2.1.1. an exclusive (even as
to AstraZeneca and its Affiliates) license (or sublicense), with the right to grant sublicenses in accordance with Section 2.2 (Sublicenses), under the AstraZeneca Patents and the AstraZeneca Know-How, to
Exploit the Licensed Compound and Licensed Products in the Field in the Territory; and 
 2.1.2. an exclusive (even as to AstraZeneca
and its Affiliates) license and right of reference, with the right to grant sublicenses in accordance with Section 2.2 (Sublicenses), under the AstraZeneca Regulatory Documentation as reasonably necessary for purposes of Exploiting the Licensed
Compound and Licensed Products in the Field in the Territory. 
 2.2. Sublicenses. Subject to Section 2.4.1
(AstraZeneca’s Right of First Negotiation), Licensee shall have the right to grant sublicenses (or further rights of reference), through multiple tiers of sublicensees, under the licenses and rights of reference granted in Section 2.1
(Grants to Licensee), to its Affiliates and other Persons. Any sublicense agreement granted under this Section 2.2 shall be on the same terms and conditions as those set forth in this Agreement, to the extent applicable to the rights granted by
Licensee to such Sublicensee. Licensee hereby (a) guarantees the performance of its Affiliates and permitted Sublicensees that are sublicensed as permitted herein and the grant of any such sublicense shall not relieve Licensee of its
obligations under this Agreement, except to the extent they are satisfactorily performed by such Sublicensee and (b) waives any requirement that AstraZeneca exhaust any right, power or remedy, or proceed against any Sublicensee for any
obligation or performance under this Agreement prior to proceeding directly against Licensee. A copy of any sublicense agreement shall be provided to AstraZeneca within [***] after its execution; provided that in each case the financial terms
of any such sublicense agreement may be redacted. 
 2.3. Retention of Rights; Limitations Applicable to License Grants. 

2.3.1. Retained Rights of AstraZeneca. Notwithstanding anything to the contrary in this Agreement and without limitation of any
rights granted or reserved to AstraZeneca pursuant to any other term or condition of this Agreement, AstraZeneca hereby expressly retains, on behalf of itself and its Affiliates (and on behalf of its licensors, (sub)licensees and contractors) all
right, title and interest in and to the AstraZeneca Patents, the AstraZeneca Know-How, AstraZeneca Regulatory Documentation and AstraZeneca’s Corporate Names, in each case, for purposes of performing or
exercising the Retained Rights. 
 2.3.2. No Other Rights Granted by AstraZeneca. Except as expressly provided herein and
without limiting the foregoing, AstraZeneca grants no other right or license, including any rights or licenses to the AstraZeneca Patents, the AstraZeneca Know-How, the AstraZeneca Regulatory Documentation,
the AstraZeneca Corporate Names or any other Patent, Trademark or other intellectual property rights not otherwise expressly granted herein. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 15 

	 	2.4.	 [***]. 

  

	 	2.4.1.	 [***] 

  

	 	2.4.2.	 [***] 

Article 3 
 TRANSITIONAL,
DEVELOPMENT, REGULATORY AND COMMERCIALIZATION 
 ACTIVITIES 

3.1. Transition Plan. In order to transfer the Development responsibility to Licensee as contemplated hereunder, the Parties
shall use Commercially Reasonable Efforts to comply with the transition plan set forth as Schedule B (the “Transition Plan”), which, for clarity, shall consist of the plan for AstraZeneca to transfer to Licensee:
(a) regulatory obligations in respect of the Regulatory Documentation from AstraZeneca (if any); (b) the amounts of inventory of [***] set forth in Section 3.7 (Supply of [***]); (c) results and data from all
pre- clinical and clinical studies relating to [***] conducted prior to the Effective Date; 
 (d) [***]
manufacturing technology within the AstraZeneca Know-How; and (e) other such AstraZeneca Know-How in existence as of the Effective Date (collectively, the
“Transfer Activities”). The Parties acknowledge and agree that Schedule B attached hereto as of the Effective Date is a draft version of Schedule B. Within [***] of the Effective Date, AstraZeneca and Licensee shall
finalize Schedule B by including, in addition to the items included as of the Effective Date, any further elements reasonably necessary to transfer the Development of [***] from AstraZeneca to Licensee and such updated Schedule B shall
automatically replace the draft Schedule B attached hereto. AstraZeneca shall provide Licensee with up to [***] of support relating to Transfer Activities; thereafter, [***]. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 16 

 3.2. Transfer Activities. AstraZeneca and Licensee will initiate the Transfer
Activities promptly after the Effective Date in accordance with a timeline as specified in the Transition Plan. AstraZeneca and Licensee shall use Commercially Reasonable Efforts to perform the Transfer Activities and complete such Transfer
Activities within the time periods specified in the Transition Plan. 
 3.3. Development. 

3.3.1. Diligence. After the Effective Date, subject to the Retained Rights, as between the Parties, Licensee shall be solely
responsible for all aspects of the Development of the Licensed Compound and Licensed Products in the Field in the Territory. Licensee shall use Commercially Reasonable Efforts to Develop, and obtain and maintain Regulatory Approvals for at least one
Licensed Product for use in the Field in the Territory. 
 3.3.2. Development Costs. Licensee shall be responsible for all of
its costs and expenses in connection with the Development of, and obtaining and maintaining Regulatory Approvals for, the Licensed Products in the Field in the Territory. 

3.3.3. Development Records. Licensee shall, and shall cause its Affiliates and its and their Sublicensees to, maintain, in good
scientific manner, complete and accurate books and records pertaining to Development of Licensed Products hereunder, in sufficient detail to verify compliance with its obligations under this Agreement. Such books and records shall (i) be in
compliance with Applicable Law, (ii) properly reflect all work done and results achieved in the performance of its Development activities hereunder, and (iii) be retained by Licensee for at least [***] after the expiration or termination
of this Agreement in its entirety or for such longer period as may be required by Applicable Law. 
 3.3.4. Development Reports.
Within [***] following the end of each [***] during which Licensee is conducting Development activities hereunder until each Development and Regulatory milestone event listed in Section 4.2.1 (Milestones; Development and Regulatory
Milestones) has been achieved by Licensee for [***], Licensee shall provide AstraZeneca with a detailed written report of such Development activities it has performed, or caused to be performed, since the preceding report, its Development activities
in process and the future activities it expects to initiate during the following [***] period. Each such report shall contain sufficient detail to enable AstraZeneca to assess Licensee’s compliance with its obligations set forth in Sections
3.3.1 (Development; Diligence), including Licensee’s, or its Affiliates’ or its or their Sublicensees’ activities with respect to achieving Regulatory Approvals of Licensed Products in the Territory. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 17 

 3.4. Regulatory Activities. 

3.4.1. Regulatory Approvals. Subject to the Retained Rights, Licensee shall have the sole right to prepare, obtain and maintain
Drug Approval Applications (including the setting of the overall regulatory strategy therefor), other Regulatory Approvals and other submissions (including INDs) and to conduct communications with the Regulatory Authorities, for Licensed Products in
the Field in the Territory in its name. 
 3.4.2. Recalls, Suspensions or Withdrawals. In the event that the Territory is not
worldwide, each Party shall notify the other Party promptly (but in no event later than [***]) following its determination that any event, incident or circumstance has occurred that such Party has determined may result in the need for a recall,
market suspension or market withdrawal of a Licensed Product in the Field in its respective territory and shall include in such notice the reasoning behind such determination and any supporting facts. As between the Parties, Licensee shall be solely
responsible for determining whether to voluntarily implement any recall, market suspension or market withdrawal in the Field in the Territory, and AstraZeneca shall be solely responsible for determining whether to voluntarily implement any recall,
market suspension or market withdrawal in the Field in the Terminated Territory; provided that, prior to any implementation of such a recall, market suspension or market withdrawal, the Party instituting such action shall consult with the
other Party and shall consider the other Party’s comments in good faith. If a recall, market suspension or market withdrawal is mandated by a Regulatory Authority in the Territory, as between the Parties, Licensee shall initiate such a recall,
market suspension or market withdrawal in compliance with Applicable Law. If a recall, market suspension or market withdrawal is mandated by a Regulatory Authority in the Terminated Territory, as between the Parties, AstraZeneca shall initiate such
a recall, market suspension or market withdrawal in compliance with Applicable Law. For all recalls, market suspensions or market withdrawals undertaken pursuant to this Section 3.4.2, as between the Parties, Licensee shall be solely
responsible for the execution thereof in the Territory, and AstraZeneca shall be solely responsible for the execution thereof in the Terminated Territory. Subject to Article 8 (INDEMNITY), each Party shall be responsible for all costs of any such
recall, market suspension or market withdrawal for which it is responsible, except in the event and to the extent that a recall, market suspension or market withdrawal resulted from the other Party’s or its Affiliate’s breach of its
obligations hereunder or from the other Party’s or its Affiliate’s fraud, gross negligence or willful misconduct, in which case, the other Party shall bear the expense of such recall, market suspension or market withdrawal. 

3.4.3. Global Safety Database. Licensee shall establish, hold and maintain ([***]) the global safety database for Licensed
Products. 
 3.5. Commercialization. 

3.5.1. Diligence. As between the Parties, Licensee shall be solely responsible for Commercialization of the Licensed Products in
the Field throughout the Territory at Licensee’s own cost and expense. Licensee shall use Commercially Reasonable Efforts to Commercialize the Licensed Products throughout the Territory. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 18 

 3.5.2. Commercialization Costs; Booking of Sales; Distribution. Except as
otherwise provided in this Agreement, Licensee shall be responsible for all of its costs and expenses in connection with the Commercialization of the Licensed Products in the Field in the Territory. Licensee shall invoice and book sales, establish
all terms of sale (including pricing and discounts) and warehouse and distribute the Licensed Products in the Field in the Territory and perform or cause to be performed all related services. Licensee shall handle all returns, recalls or
withdrawals, order processing, invoicing, collection, distribution and inventory management with respect to the Licensed Products in the Territory. 

3.5.3. Commercialization Records. Without limitation of Section 4.8 (Financial Records), Licensee shall maintain complete
and accurate books and records pertaining to Commercialization of Licensed Products hereunder, in sufficient detail to verify compliance with its obligations under this Agreement and which shall be in compliance with Applicable Law and properly
reflect all work done and results achieved in the performance of its Commercialization activities. Such records shall be retained by Licensee for at least [***] after the expiration or termination of this Agreement in its entirety or for such longer
period as may be required by Applicable Law. 
 3.5.4. Commercialization Reports. Without limiting Section 3.3.4
(Development; Development Reports), within [***] following the end of [***], commencing upon the First Commercial Sale of a Licensed Product and thereafter, Licensee shall provide to AstraZeneca with written reports of such Commercialization
activities it has performed, or caused to be performed, since the preceding report and the future activities it expects to initiate during the following [***] period. Each such report shall contain sufficient detail to reasonably enable AstraZeneca
to assess Licensee’s compliance with its obligations set forth in Section 3.5.1 (Commercialization; Diligence). Following receipt of such report, Licensee shall promptly respond to AstraZeneca’s reasonable questions or requests for
additional information. In addition, at AstraZeneca’s request, Licensee and AstraZeneca will meet to discuss the status of the Commercialization activities within a reasonable time after AstraZeneca’s request. Such meeting may occur either
in person, telephonically, or by video conference at the Parties’ discretion. 
 3.6. Statements and Compliance with
Applicable Law. Licensee shall and shall cause its Affiliates to, comply with all Applicable Law with respect to the Exploitation of Licensed Products. Licensee shall avoid and shall cause its Affiliates and its and their Sublicensees employees,
representatives, agents, and distributors to avoid, taking or failing to take, any actions that Licensee knows or reasonably should know would jeopardize the goodwill or reputation of AstraZeneca, the Licensed Compound or the Licensed Products. 

3.7. Supply of [***]. AstraZeneca shall, within [***] of the Effective Date, transfer [***] to Licensee [***] of [***] that was
(a) manufactured in accordance with cGMP and (b) stored and maintained by AstraZeneca prior to delivery to Licensee in accordance with AstraZeneca’s standard procedures and cGMP. AstraZeneca shall deliver or have delivered such supply to
Licensee EXW (Incoterms 2010) the facility designated by AstraZeneca. The Parties agree that: (i) such [***] and Licensed Products (incorporating such [***]) shall be used solely for the Development of Licensed 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 19 

 Products pursuant to this Agreement; and (ii) such [***] and Licensed Products (incorporating such
[***]) shall not be made available by Licensee to any Third Party (except for a contract manufacturer for the purposes of obtaining subsequent supply of [***] and Licensed Products from such contract manufacturer) except as expressly consented to in
writing by AstraZeneca. LICENSEE AGREES THAT ALL SUCH [***] AND LICENSED PRODUCTS (INCORPORATING SUCH [***]) ARE PROVIDED “AS IS” AND WITHOUT ANY WARRANTIES, EXPRESS OR IMPLIED. 

3.8. Subcontracting. Subject to Section 2.2 (Sublicenses), Licensee may subcontract with a Third Party to perform any or all
of its obligations hereunder (including by appointing one or more distributors); provided that no such permitted subcontracting shall relieve Licensee of any obligation hereunder (except to the extent satisfactorily performed by such
subcontractor) or any liability and Licensee shall be and remain fully responsible and liable therefor. Without limiting the foregoing, each such permitted subcontracting agreement shall be on the same terms and conditions as those set forth in this
Agreement, to the extent applicable to the subcontracted obligation. Licensee hereby waives any requirement that AstraZeneca exhaust any right, power or remedy, or proceed against any subcontractor for any obligation or performance under this
Agreement prior to proceeding directly against Licensee. 
 Article 4 

PAYMENTS AND RECORDS 

4.1. Upfront Payment. In partial consideration of the rights granted by AstraZeneca to Licensee hereunder, Licensee shall pay to
AstraZeneca a nonrefundable and non- creditable upfront payment equal to two million Dollars ($2m) within ten (10) days after the Effective Date of this Agreement, which shall be nonrefundable and non-creditable. 
 4.2. Milestones. 

4.2.1. Development and Regulatory Milestones. In partial consideration of the rights granted by AstraZeneca to Licensee
hereunder, Licensee shall pay to AstraZeneca the following one-time payments within [***] after the achievement of each of the following milestone events, which shall be nonrefundable, non-creditable and fully earned upon the achievement of the applicable milestone event: 
  

	 	[***]	 

  

	 	(i)	 [***] 

  

	 	(ii)	 [***] 

  

	 	(iii)	 [***] 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 20 

	 	(iv)	 [***] 

  

	 	(v)	 [***] 

  

	 	(vi)	 [***] 

  

	 	(vii)	 [***] 

  

	 	[***]	 

  

	 	(viii)	 [***] 

  

	 	(ix)	 [***] 

  

	 	(x)	 [***] 

  

	 	(xi)	 [***] 

  

	 	(xii)	 [***] 

  

	 	(xiii)	 [***] 

  

	 	(xiv)	 [***] 

If, at any time, the achievement of a milestone described in this Section 4.2.1 has occurred with respect to which a payment is due
hereunder and any of the preceding milestones in this Section 4.2.1 have not been due or been paid, then each such skipped milestone payment shall become due and payable concurrently with the milestone payment for the milestone, with respect to
which payment is due. For clarity, each milestone payment is payable only once; no milestone payment shall be payable for subsequent or repeated achievements of such milestone event with one or more of the same or different Licensed Products. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 21 

 4.2.2. Commercial Milestones. In partial consideration of the rights granted
by AstraZeneca to Licensee hereunder, Licensee shall pay to AstraZeneca the following one-time payments, which shall be nonrefundable, non-creditable and fully earned
upon the achievement of the applicable milestone event: 
 (i) in the event that the aggregate of all Net Sales of all Licensed Product(s)
made by Licensee or any of its Affiliates or its or their Sublicensees in a given Calendar Year exceeds [***] for such Calendar Year, Licensee shall pay to AstraZeneca [***]; and 

(ii) in the event that the aggregate of all Net Sales of all Licensed Product(s) made by Licensee or any of its Affiliates or its or their
Sublicensees in a given Calendar Year exceeds [***] for such Calendar Year, Licensee shall pay to AstraZeneca [***)]. 
 In the event that, in a given
Calendar Year, more than one (1) of the foregoing thresholds set forth in clauses (i) and (ii) of this Section 4.2.2 is exceeded, Licensee shall pay to AstraZeneca a separate milestone payment with respect to each such threshold that
is exceeded in such Calendar Year. Each such milestone payment shall be due within [***] (or, if applicable, within [***)] in which such milestone was achieved. Each milestone payment in this Section 4.2.2 shall be payable only once upon the
first achievement of such milestone in a given Calendar Year and no amounts shall be due for subsequent or repeated achievements of such milestone in subsequent Calendar Years. 

4.2.3. Determination that Milestones Have Occurred. Licensee shall notify AstraZeneca promptly of the achievement of each of the
events identified as a milestone in Section 4.2.1 (Milestones; Development and Regulatory Milestones) or Section 4.2.2 (Milestones; Commercial Milestones). In the event that, notwithstanding the fact that Licensee has not provided
AstraZeneca such a notice, AstraZeneca believes that any such milestone has been achieved, it shall so notify Licensee in writing and the Parties shall promptly meet and discuss in good faith whether such milestone has been achieved. Any dispute
under this Section 4.2.3 regarding whether or not such a milestone has been achieved shall be subject to resolution in accordance with Section 10.5 (Dispute Resolution). 

4.3. Royalties. 

4.3.1. Royalty Rates. As further consideration for the rights granted to Licensee hereunder, commencing upon the First
Commercial Sale of a Licensed Product in the Territory, on a Licensed Product-by-Licensed Product basis, Licensee shall pay to AstraZeneca during the Royalty Term a
royalty on Net Sales of each Licensed Product in the Territory during each Calendar Year at the following rates: 
 (i) for that portion of
aggregate Net Sales of such Licensed Product in the Territory during a Calendar Year less than or equal to [***], a royalty rate of [***]; 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 22 

 (ii) for that portion of aggregate Net Sales of such Licensed Product in the Territory
during a Calendar Year that are greater than [***] but less than or equal to [***], a royalty rate of [***] 
 (iii) for that portion of
aggregate Net Sales of such Licensed Product in the Territory during a Calendar Year that are greater than [***] but less than or equal to [***] a royalty rate of [***] and 

(iv) for that portion of aggregate Net Sales of such Licensed Product in the Territory during a Calendar Year that are greater than [***] a
royalty rate of [***] 
 4.3.2. Blended Royalty. Licensee acknowledges that (i) the AstraZeneca Know-How and the Information included in the AstraZeneca Regulatory Documentation licensed to Licensee are proprietary and valuable and that, without the Licensee Know-How and
such Information, Licensee would not be able to obtain and maintain Regulatory Approvals with respect to the Licensed Products, (ii) such Regulatory Approvals will allow Licensee to obtain and maintain regulatory exclusivity with respect to the
Licensed Products in the Field in the Territory, (ii) access to the Licensee Know-How and the rights with respect to the AstraZeneca Regulatory Documentation have provided Licensee with a competitive advantage
in the marketplace beyond the exclusivity afforded by the Licensed Patents and (iv) the milestone payments and royalties set forth in Section 4.2 (Milestones) and Section 4.3.1 (Royalties; Royalty Rates), respectively, are, in part,
intended to compensate AstraZeneca for such exclusivity and such competitive advantage. The Parties agree that the royalty rates set forth in Section 4.3.1 (Royalties; Royalty Rates) reflect an efficient and reasonable blended allocation of the
value provided by AstraZeneca to Licensee. 
 4.3.3. Royalty Term. Licensee shall have no obligation to pay any royalty with
respect to Net Sales of any Licensed Product in any country after the Royalty Term for such Licensed Product in such country has expired. Upon termination of the Royalty Term with respect to a Licensed Product in any country, the license grants to
Licensee in Section 2.1 (Grants to Licensee), as applicable, with respect to such Licensed Product shall become fully paid-up with respect to such country. 

4.4. Royalty Payments and Reports. Licensee shall calculate all amounts payable to AstraZeneca pursuant to Section 4.3.1
(Royalties; Royalty Rates) at the end of each Calendar Quarter, which amounts shall be converted to Dollars, in accordance with Section 4.5 (Mode of Payment; Offsets). Licensee shall pay to AstraZeneca the royalty amounts due with respect to a
given Calendar Quarter within [***] after the end of such Calendar Quarter. Each payment of royalties due to AstraZeneca shall be accompanied by a statement specifying, on a Licensed
Product-by-Licensed Product basis, the amount of Invoiced Sales, Net Sales and deductions taken to arrive at Net Sales attributable to each Licensed Product in each
country the Territory during the applicable Calendar Quarter (including such amounts expressed in local currency and as converted to Dollars) and a calculation of the amount of royalty payment due on such Net Sales for such Calendar Quarter. Without
limiting the generality of the foregoing, Licensee shall require its Affiliates and Sublicensees to account for their Net Sales and to provide such reports with respect thereto, as if such sales were made by Licensee. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 23 

 4.5. Mode of Payment; Offsets. All payments to AstraZeneca under this
Agreement shall be made by deposit of Dollars in the requisite amount to such bank account as AstraZeneca may from time to time designate by notice to Licensee. For the purpose of calculating any sums due under, or otherwise reimbursable pursuant
to, this Agreement (including the calculation of Net Sales expressed in currencies other than Dollars), Licensee shall convert any amount expressed in a foreign currency into Dollar equivalents using its, its Affiliate’s or Sublicensee’s,
as applicable, standard conversion methodology consistent with GAAP. Except as set forth in Section 4.6 (Taxes), Licensee shall [***] the amounts due to AstraZeneca hereunder. 

4.6. Taxes. 

4.6.1. General. The upfront payment, milestone payments and royalties payable by Licensee to AstraZeneca pursuant to this
Agreement (each, a “Payment”) shall be paid free and clear of any and all Taxes, except for any Taxes required by Applicable Law to be withheld or deducted. AstraZeneca shall be solely responsible for paying any and all Taxes (other
than Taxes required by Applicable Law to be withheld or deducted from Payments and remitted by Licensee) levied on account of, or measured in whole or in part by reference to, any Payments it receives. Licensee shall deduct or withhold from the
Payments any Taxes that it is required by Applicable Law to deduct or withhold, and any such Tax that is deducted or withheld shall be treated as having been paid to the recipient of such Payments for the purposes of this Agreement. Notwithstanding
the foregoing, if AstraZeneca is entitled under any applicable tax treaty to a reduction of rate of, or the elimination of, applicable withholding Tax, it may deliver to Licensee or the appropriate governmental authority (with the assistance of
Licensee to the extent that this is reasonably required and is requested in writing) the prescribed forms and information necessary to reduce the applicable rate of withholding or to relieve Licensee of its obligation to deduct or withhold such Tax
and Licensee shall apply the reduced rate of withholding or dispense with withholding, as the case may be; provided that Licensee has received evidence of AstraZeneca’s delivery of all applicable forms (and, if necessary, its receipt of
appropriate governmental authorization) at least [***] prior to the time that the Payments are due. AstraZeneca shall indemnify Licensee and its Affiliates for the full amount of any Taxes (including any interest or penalties thereon) attributable
to any inaccuracy or obsolescence of any of the foregoing forms or information contained therein. If, in accordance with the foregoing, Licensee withholds any amount, it shall pay to AstraZeneca the balance when due, make timely payment to the
proper taxing authority of the withheld amount and send to AstraZeneca proof of such payment within [***] following such payment. 

4.6.2. Value Added Tax. Notwithstanding anything contained in Section 4.6 (Taxes), this Section 4.6.2 shall apply with
respect to value added tax (“VAT”). All Payments are exclusive of VAT. If any VAT is chargeable in respect of any Payments, Licensee shall pay VAT at the applicable rate in respect of any such Payments following the receipt of a VAT
invoice in the appropriate form issued by AstraZeneca in respect of those Payments, such VAT to be payable on the later of the due date of the payment of the Payments to which such VAT 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 24 

 
relates and [***] after the receipt by Licensee of the applicable invoice relating to that VAT payment, provided, however, Licensee shall not have an obligation to pay any such VAT to the extent
such VAT becomes chargeable as a result of a failure by AstraZeneca to comply with a reasonable request of Licensee to provide information or documentation required by law or otherwise necessary to avoid the imposition of such VAT. 

4.7. Interest on Late Payments. If any payment due to either Party under this Agreement is not paid when due, then, if such late
payment is identified through an audit requested by AstraZeneca in accordance with Section 4.9 within [***] from the date such sum became due, such paying Party shall pay interest thereon (before and after any judgment) at an annual rate (but
with interest accruing on a daily basis) at the lower of (a) the maximum rate permitted under Applicable Law and (b) [***] percentage points above the United States Prime Rate for deposits in United States Dollars, as adjusted from time to time
on the first New York business day of each month, such interest to run from the date on which payment of such sum became due until payment thereof in full together with such interest. For clarity, outstanding payments due to either Party identified
after [***] from the date such sum became due shall be repaid without interest. 
 4.8. Financial Records. Licensee shall and
shall cause its Affiliates and its and their Sublicensees to, keep complete and accurate financial books and records pertaining to the Commercialization of Licensed Products hereunder, including books and records of Invoiced Sales and Net Sales of
Licensed Products, in sufficient detail to calculate and verify all amounts payable hereunder. Licensee shall and shall cause its Affiliates and its and their Sublicensees to, retain such books and records until [***] after the end of the period to
which such books and records pertain. 
 4.9. Audit. At the request of AstraZeneca, Licensee shall and shall cause its
Affiliates and its and their Sublicensees to, permit an independent auditor designated by AstraZeneca and reasonably acceptable to Licensee and after executing a confidentiality agreement that is no less onerous than what is set forth in this
Agreement, at reasonable times and upon reasonable notice (but not more than once per Fiscal Year), to audit the books and records maintained pursuant to Section 4.8 (Financial Records) to ensure the accuracy of all reports and payments made
hereunder within the [***] period preceding the date of the request for review. No Fiscal Year will be subject to audit under this Section 4.9 (Audit) more than once. The independent certified public accounting firm shall disclose to
AstraZeneca only whether the audited reports are correct or incorrect and the specific details concerning any discrepancies. No other information shall be provided to AstraZeneca. 

Except as provided below, the cost of this audit shall be borne by AstraZeneca, unless the audit reveals, with respect to a period, a variance
of more than [***] from the reported amounts for such period to the detriment of AstraZeneca, in which case Licensee shall bear the cost of the audit. Unless disputed pursuant to Section 4.10 (Audit Dispute) below, if such audit concludes that
(i) additional amounts were owed by Licensee, Licensee shall pay the additional amounts, with interest from the date originally due as provided in Section 4.7 (Interest on Late Payments) or (ii) excess payments were made by Licensee,
AstraZeneca shall reimburse such excess payments, in either case ((i) or (ii)), within [***] after the date on which such audit is completed by AstraZeneca. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 25 

 4.10. Audit Dispute. In the event of a dispute with respect to any audit under
Section 4.9 (Audit), AstraZeneca and Licensee shall work in good faith to resolve the disagreement. If the Parties are unable to reach a mutually acceptable resolution of any such dispute within [***], the dispute shall be submitted for
resolution to a certified public accounting firm jointly selected by each Party’s certified public accountants or to such other Person as the Parties shall mutually agree (the “Auditor”). The decision of the Auditor shall be
final and the costs of such arbitration as well as the initial audit shall be borne between the Parties in such manner as the Auditor shall determine. Not later than [***] after such decision and in accordance with such decision, Licensee shall pay
the additional amounts, with interest from the date originally due as provided in Section 4.7 (Interest on Late Payments) or AstraZeneca shall reimburse the excess payments, as applicable. 

Article 5 
 INTELLECTUAL
PROPERTY 
 5.1. Ownership of Intellectual Property. 

5.1.1. Background Intellectual Property. For the avoidance of doubt, as between the Parties, each Party shall own all right,
title and interest in and to any and all Information, Improvements and other inventions existing as of the Effective Date, or developed or acquired outside of the scope of this Agreement (“Background Intellectual Property”). Except
as expressly set forth herein, nothing in this Agreement shall transfer any rights in such Background Intellectual Property to the other Party. 

5.1.2. Ownership of Arising Technology. As between the Parties, Licensee shall own all right, title and interest in and to any
and all Information, Improvements and other inventions that are conceived, discovered, developed or otherwise made by or on behalf of Licensee or its Affiliates or its or their (sub)licensees (or Sublicensee(s)), as applicable, under or in
connection with this Agreement, whether or not patented or patentable and any and all Patents and other intellectual property rights with respect thereto. 

5.2. Maintenance and Prosecution of AstraZeneca Patents. 

5.2.1. [***] 

5.2.2. In General. As between the Parties, Licensee shall through counsel of its choice, prepare, file, prosecute and maintain
the AstraZeneca Patents, including any related interference, re-issuance, re-examination and opposition proceedings with respect thereto, in the Territory, [***.] If
Licensee identifies patentable inventions within the AstraZeneca Know-How in the course of reviewing the AstraZeneca Know-How, the rights under this Section 5.2.2
(Maintenance and Prosecution of 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 26 

 
AstraZeneca Patents; In General) include the right for Licensee to file, prosecute and maintain new patent applications in the name of AstraZeneca claiming or covering such patentable inventions
[***]. For purposes of this Section 5.2 (Maintenance and Prosecution of AstraZeneca Patents), the Party prosecuting, maintaining or undertaking other related activities pursuant to the foregoing sentence with respect to a Patent shall be the
“Prosecuting Party.” The Prosecuting Party shall periodically inform the other Party of all material steps with regard to the preparation, filing, prosecution and maintenance of the AstraZeneca Patents, in the Territory, including
by providing the non-Prosecuting Party with a copy of material communications to and from any patent authority in the Territory regarding such Patents and by providing the
non- Prosecuting Party drafts of any material filings or responses to be made to such patent authorities in the Territory sufficiently in advance of submitting such filings or responses so as to allow for a
reasonable opportunity for the non-Prosecuting Party to review and comment thereon. The Prosecuting Party shall consider in good faith the requests and suggestions of the
non-Prosecuting Party with respect to such drafts and with respect to strategies for filing and prosecuting such Patents in the Territory. If, as between the Parties, the Prosecuting Party decides not to
prepare, file, prosecute or maintain an AstraZeneca Patent in a country in the Territory, the Prosecuting Party shall provide reasonable prior written notice to the non-Prosecuting Party of such intention, the
non-Prosecuting Party shall thereupon have the right but not the obligation, in its sole discretion, to assume the control and direction of the preparation, filing, prosecution and maintenance of such
AstraZeneca Patent [***] in such country, whereupon following the taking of such control the non-Prosecuting Party shall be deemed the Prosecuting Party with respect to such Patent. [***] 

5.2.3. Cooperation. The non-Prosecuting Party shall, and shall cause its Affiliates to,
assist and cooperate with the Prosecuting Party, as the Prosecuting Party may reasonably request from time to time, in the preparation, filing, prosecution and maintenance of the AstraZeneca Patents in the Territory under this Agreement, including
that the non-Prosecuting Party shall, and shall ensure that its Affiliates, (i) offer its comments, if any, promptly, (ii) provide access to relevant documents and other evidence and make its
employees available at reasonable business hours; provided, however, that neither Party shall be required to provide legally privileged information with respect to such intellectual property unless and until procedures reasonably acceptable
to such Party are in place to protect such privilege; and provided, further, that the Prosecuting Party shall reimburse the non-Prosecuting Party for its reasonable and verifiable costs and expenses
incurred in connection therewith. 
 5.2.4. Patent Term Extension and Supplementary Protection Certificate. As between the
Parties, Licensee shall have the sole right to make decisions regarding and Licensee shall have the right to apply for, patent term extensions, in the Territory including in the United States with respect to extensions pursuant to 35 U.S.C.
§156 et. seq. and in other 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 27 

 
jurisdictions pursuant to supplementary protection certificates, and in all jurisdictions with respect to any other extensions that are now or become available in the future, wherever applicable,
for the AstraZeneca Patents and with respect to the Licensed Compound and the Licensed Products, in each case including whether or not to do so. AstraZeneca shall provide prompt and reasonable assistance, as requested by Licensee, including by
taking such action as patent holder as is required under any Applicable Law to obtain such extension or supplementary protection certificate. 

5.2.5. Common Ownership under Joint Research Agreements. Notwithstanding anything to the contrary in this Article 5
(INTELLECTUAL PROPERTY), neither Party shall have the right to make an election under 35 U.S.C. 102(c) when exercising its rights under this Article 5 (INTELLECTUAL PROPERTY) without the prior written consent of the other Party. With respect to any
such permitted election, the Parties shall coordinate their activities with respect to any submissions, filings or other activities in support thereof. The Parties acknowledge and agree that this Agreement is a “joint research agreement”
as defined in 35 U.S.C. 100(h). 
 5.2.6. Patent Listings. Licensee shall have the right and responsibility to make all
filings with Regulatory Authorities in the Territory with respect to the AstraZeneca Patents, including as required or allowed (i) in the United States, in the FDA’s Orange Book and (ii) in the European Union, under the national
implementations of Article 10.1(a)(iii) of Directive 2001/EC/83 or other international equivalents; provided that Licensee shall consult with AstraZeneca to determine the course of action with respect to such filings. 

5.3. Enforcement of Patents. 

5.3.1. Notice. Each Party shall promptly notify the other Party in writing of (i) any alleged or threatened infringement of
the AstraZeneca Patents in any jurisdiction in the Territory or (ii) any certification filed under the Hatch-Waxman Act claiming that any AstraZeneca Patents are invalid or unenforceable or claiming that any AstraZeneca Patents would not be
infringed by the making, use, offer for sale, sale or import of a product for which an application under the Hatch-Waxman Act is filed or any equivalent or similar certification or notice in any other jurisdiction, in each case ((i) and (ii)) of
which such Party becomes aware (an “Infringement”). 
 5.3.2. Enforcement of Patents. As between the Parties,
(i) Licensee shall have the first right, but not the obligation, to prosecute any Infringement with respect to the AstraZeneca Patents, including as a defense or counterclaim in connection with any Third Party Infringement Claim, [***], using
counsel of Licensee’s choice. For purposes of this Section 5.3 (Enforcement of Patents), the Party prosecuting any Infringement pursuant to the foregoing sentence with respect to a Patent shall be the “Enforcing Party.” In
the event Licensee prosecutes any such Infringement in the Field in the Territory, AstraZeneca shall have the right to join as a party to such claim, suit or proceeding and participate with its own counsel [***]; provided that Licensee shall
retain control of the prosecution of such claim, suit or proceeding, including the response to any defense or defense of any counterclaim raised in connection therewith. In the event AstraZeneca prosecutes any such Infringement in the Field in the
Territory, Licensee shall have the right to join as a party to such 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 28 

 
claim, suit or proceeding and participate with its own counsel [***]; provided that AstraZeneca shall retain control of the prosecution of such claim, suit or proceeding, including the
response to any defense or defense of any counterclaim raised in connection therewith. If the Enforcing Party or its designee does not take commercially reasonable steps to prosecute an Infringement in the Field (x) within [***] following the
first notice provided above with respect to such Infringement or (y) provided such date occurs after the first such notice of such Infringement is provided, [***] before the time limit, if any, set forth in appropriate laws and
regulations for filing of such actions, whichever comes first, then (1) the Enforcing Party shall so notify the non-Enforcing Party and (2) upon the Enforcing Party’s written consent (such
consent not to be unreasonably withheld, conditioned or delayed), the non-Enforcing Party may prosecute such alleged or threatened infringement [***], whereupon the
non-Enforcing Party shall be deemed the Enforcing Party with respect to such Infringement. 

5.3.3. Cooperation. The Parties agree to cooperate fully in any Infringement action pursuant to this Section 5.3
(Enforcement of Patents), including by making the inventors, applicable records and documents (including laboratory notebooks) with respect to the relevant Patents available to the Enforcing Party on the Enforcing Party’s request. With respect
to an action controlled by the applicable Enforcing Party, the other Party shall, and shall cause its Affiliates to, assist and cooperate with the Enforcing Party, as the Enforcing Party may reasonably request from time to time, in connection with
its activities set forth in this Section, including where necessary, furnishing a power of attorney solely for such purpose or joining in, or being named as a necessary party to, such action, providing access to relevant documents and other evidence
and making its employees available at reasonable business hours; provided that, the Enforcing Party shall reimburse such other Party for its reasonable and verifiable costs and expenses incurred in connection therewith. Unless otherwise set
forth herein, the Enforcing Party shall have the right to settle such claim; provided that neither Party shall have the right to settle any Infringement litigation under this Section 5.3 (Enforcement of Patents) in a manner that has a
material adverse effect on the rights or interest of the other Party or in a manner that imposes any costs or liability on or involves any admission by, the other Party, without the express written consent of such other Party (which consent shall
not be unreasonably withheld, conditioned or delayed). In connection with any activities with respect to an Infringement action prosecuted by the applicable Enforcing Party pursuant to this Section 5.3 (Enforcement of Patents) involving Patents
Controlled by or licensed under Article 2 (GRANT OF RIGHTS) to the other Party, the Enforcing Party shall (i) consult with the other Party as to the strategy for the prosecution of such claim, suit or proceeding, (ii) consider in good
faith any comments from the other Party with respect thereto and (iii) keep the other Party reasonably informed of any material steps taken and provide copies of all material documents filed, in connection with such action. 

5.3.4. Recovery. Except as otherwise agreed by the Parties in connection with a cost sharing arrangement, any recovery realized
as a result of such litigation described above in this Section 5.3 (Enforcement of Patents) (whether by way of settlement or otherwise) shall be first, allocated to reimburse the Parties for their costs and expenses in making such recovery
(which amounts shall be allocated pro rata if insufficient to cover the totality of such expenses). Any remainder after such reimbursement is made shall be retained as follows: 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 29 

 a. If Licensee is the Enforcing Party, [***]; and 

b. If AstraZeneca is the Enforcing Party, [***]. 

5.4. Infringement Claims by Third Parties. If the Exploitation of a Licensed Product in the Territory pursuant to this Agreement
results in, or is reasonably expected to result in, any claim, suit or proceeding by a Third Party alleging infringement by Licensee or any of its Affiliates or its or their Sublicensees (a “Third Party Infringement Claim”),
including any defense or counterclaim in connection with an Infringement action initiated pursuant to Section 5.3 (Enforcement of Patents), the Party first becoming aware of such alleged infringement shall promptly notify the other Party
thereof in writing. As between the Parties, Licensee shall be responsible for defending any such claim, suit or proceeding at its sole cost and expense, using counsel of Licensee’s choice. AstraZeneca may participate in any such claim, suit or
proceeding with counsel of its choice at its sole cost and expense; provided that Licensee shall retain the right to control such claim, suit or proceeding. AstraZeneca shall, and shall cause its Affiliates to, assist and cooperate with
Licensee, as Licensee may reasonably request from time to time, in connection with its activities set forth in this Section, including where necessary, furnishing a power of attorney solely for such purpose or joining in, or being named as a
necessary party to, such action, providing access to relevant documents and other evidence and making its employees available at reasonable business hours; provided that Licensee shall reimburse AstraZeneca for its reasonable and verifiable
costs and expenses incurred in connection therewith. Licensee shall keep AstraZeneca reasonably informed of all material developments in connection with any such claim, suit or proceeding. Licensee agrees to provide AstraZeneca with copies of all
material pleadings filed in such action and to allow AstraZeneca reasonable opportunity to participate in the defense of the claims. Any damages, or awards, including royalties incurred or awarded in connection with any Third Party Infringement
Claim defended under this Section 5.4 (Infringement Claims by Third Parties) shall be borne by Licensee. 
 5.5. Invalidity or
Unenforceability Defenses or Actions. Each Party shall promptly notify the other Party in writing of any alleged or threatened assertion of invalidity or unenforceability of any of the AstraZeneca Patents by a Third Party (an “Invalidity
Claim”) and of which such Party becomes aware. As between the Parties, Licensee shall have the first right, but not the obligation, to defend and control the defense of the Invalidity Claim at its sole cost and expense, using counsel of
Licensee’s choice, including when such Invalidity Claim is raised as a defense or counterclaim in connection with an Infringement action initiated pursuant to Section 5.3 (Enforcement of Patents). For purposes of this Section 5.5
(Invalidity or Unenforceability Defenses or Actions), the Party defending the Invalidity Claim pursuant to the foregoing sentence with respect to an AstraZeneca Patent shall be the “Controlling Party.” With respect to any such
Invalidity Claim proceeding in the Territory, the non-Controlling Party may participate in such claim, suit or proceeding with counsel of its choice at its sole cost and expense; provided that the
Controlling Party shall retain control of the defense in such claim, suit or proceeding. If the Controlling Party or its designee elects not to defend or control the defense of the applicable AstraZeneca Patents in a suit brought in the Territory or
otherwise fails to initiate and maintain the defense of any such claim, suit or proceeding, then the non-Controlling Party may conduct and 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 30 

 
control the defense of any such claim, suit or proceeding at its sole cost and expense. The non- Controlling Party in such an action shall, and shall cause
its Affiliates to, assist and cooperate with the Controlling Party, as such Controlling Party may reasonably request from time to time in connection with its activities set forth in this Section, including where necessary, furnishing a power of
attorney solely for such purpose or joining in, or being named as a necessary party to, such action, providing access to relevant documents and other evidence and making its employees available at reasonable business hours; provided that the
Controlling Party shall reimburse the non- Controlling Party for its reasonable and verifiable costs and expenses incurred in connection therewith. In connection with any activities with respect to a defense,
claim or counterclaim relating to the AstraZeneca Patents pursuant to this Section 5.5 (Invalidity or Unenforceability Defenses or Actions), the Controlling Party shall (x) consult with the
non-Controlling Party as to the strategy for such activities, (y) consider in good faith any comments from the non-Controlling Party and (z) keep the non-Controlling Party reasonably informed of any material steps taken and provide copies of all material documents filed, in connection with such defense, claim or counterclaim. 

5.6. Third Party Patent Rights. If in the reasonable opinion of Licensee, the Exploitation of the Licensed Compound or Licensed
Product in the Field and in the Territory by Licensee, any of its Affiliates or any of its or their Sublicensees infringes or is reasonably expected to infringe any Patent of a Third Party in any country in the Territory (such right, a
“Third Party Patent Right”), then, as between the Parties, Licensee shall have the right, but not the obligation, to negotiate and obtain a license from such Third Party to such Third Party Patent Right as necessary or desirable for
Licensee or its Affiliates or its or their Sublicensees to Exploit the Licensed Compound and Licensed Products in the Field in such country; provided that Licensee shall bear all expenses incurred in connection therewith, including any
royalties, milestones or other payments incurred under any such license, [***]. 
 5.7. Corporate Names. Licensee shall not and
shall not permit its Affiliates or its or their Sublicensees to, (i) use in their respective businesses, any Trademark that is confusingly similar to, misleading or deceptive with respect to or that dilutes any (or any part) of the Corporate
Names, (ii) do any act that endangers, destroys or similarly affects, in any material respect, the value of the goodwill pertaining to the Corporate Names or (iii) attack, dispute or contest the validity of or ownership of the Corporate
Names anywhere in the Territory or any registrations issued or issuing with respect thereto or any pending registration thereof. Licensee agrees and shall cause its Affiliates and Sublicensees, to conform (x) to the customary industry standards
for the protection of the Trademarks and to such trademark usage guidelines as AstraZeneca may furnish from time to time with respect to the use of the Corporate Names and (y) to adhere to and maintain the highest quality standards of
AstraZeneca with respect to goods sold and services provided under the Corporate Names. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 31 

 Article 6 

CONFIDENTIALITY AND NON-DISCLOSURE 

6.1. Confidentiality Obligations. At all times during the Term and for a period of [***] following termination or expiration
hereof in its entirety, each Party shall and shall cause its officers, directors, employees and agents to, keep confidential and not publish or otherwise disclose to a Third Party and not use, directly or indirectly, for any purpose, any
Confidential Information furnished or otherwise made known to it, directly or indirectly, by the other Party, except to the extent such disclosure or use is expressly permitted by the terms of this Agreement. “Confidential
Information” means any technical, business or other information provided by or on behalf of one Party to the other Party in connection with this Agreement, including information relating to the terms of this Agreement (subject to
Section 6.2 (Permitted Disclosures), Section 6.4 (Public Announcements) and Section 7.6.8 (Anti-Bribery and Anti- Corruption Compliance), information relating to the Licensed Compound or any Licensed Product (including the Regulatory
Documentation), any Development or Commercialization of the Licensed Compound or any Licensed Product, any know-how with respect thereto developed by or on behalf of the disclosing Party or its Affiliates
(including Licensee Know-How and AstraZeneca Know-How, as applicable) or the scientific, regulatory or business affairs or other activities of either Party.
Notwithstanding the foregoing, the terms of this Agreement shall be deemed to be the Confidential Information of both Parties and both Parties shall be deemed to be the receiving Party and the disclosing Party with respect thereto. Notwithstanding
the foregoing, the confidentiality and non-use obligations under this Section 6.1 with respect to any Confidential Information shall not include any information that: 

6.1.1. is or hereafter becomes part of the public domain by public use, publication, general knowledge or the like through no breach of
this Agreement by the receiving Party; 
 6.1.2. can be demonstrated by documentation or other competent proof to have been in the
receiving Party’s possession prior to disclosure by the disclosing Party without any obligation of confidentiality with respect to such information; 

6.1.3. is subsequently received by the receiving Party from a Third Party who is not bound by any obligation of confidentiality with
respect to such information; 
 6.1.4. has been published by a Third Party or otherwise enters the public domain through no fault of
the receiving Party in breach of this Agreement; or 
 6.1.5. can be demonstrated by documentation or other competent evidence to
have been independently developed by or for the receiving Party without reference to the disclosing Party’s Confidential Information. 
 Specific
aspects or details of Confidential Information shall not be deemed to be within the public domain or in the possession of the receiving Party merely because the Confidential Information is embraced by more general information in the public domain or
in the possession of the receiving Party. Further, any combination of Confidential Information shall not be considered in the public domain or in the possession of the receiving Party merely because individual elements of such Confidential
Information are in the public domain or in the possession of the receiving Party unless the combination and its principles are in the public domain or in the possession of the receiving Party. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 32 

 6.2. Permitted Disclosures. Each Party may disclose Confidential Information
to the extent that such disclosure is: 
 6.2.1. made in response to a valid order of a court of competent jurisdiction or other
supra-national, federal, national, regional, state, provincial and local governmental or regulatory body of competent jurisdiction or, if in the reasonable opinion of the receiving Party’s legal counsel, such disclosure is otherwise required by
law, including by reason of filing with securities regulators; provided, however, that the receiving Party shall first have given notice to the disclosing Party and given the disclosing Party a reasonable opportunity to quash such order or to
obtain a protective order or confidential treatment requiring that the Confidential Information and documents that are the subject of such order be held in confidence by such court or agency or, if disclosed, be used only for the purposes for which
the order was issued; and provided, further, that the Confidential Information disclosed in response to such court or governmental order shall be limited to that information which is legally required to be disclosed in response to such court
or governmental order; 
 6.2.2. made by or on behalf of the receiving Party to the Regulatory Authorities as required in connection
with any filing, application or request for Regulatory Approval; provided, however, that reasonable measures shall be taken to assure confidential treatment of such information to the extent practicable and consistent with Applicable Law;

 6.2.3. made by or on behalf of the receiving Party to a patent authority as may be reasonably necessary or useful for purposes of
obtaining or enforcing a Patent; provided, however, that reasonable measures shall be taken to assure confidential treatment of such information, to the extent such protection is available; or 

6.2.4. made by or on behalf of the receiving Party to potential or actual investors, lenders, investment bankers, or acquirers as may
be necessary in connection with their evaluation of such potential or actual investment, loan, financing, or acquisition, and in the case of Licensee, to Third Parties in connection with a proposed public offering of stock of Licensee or its
Affiliate; provided, however, that such persons shall be subject to obligations of confidentiality and non-use with respect to such Confidential Information substantially similar to the obligations of
confidentiality and non-use of the receiving Party pursuant to this Article 6 (CONFIDENTIALITY AND NON-DISCLOSURE) (with a duration of confidentiality and non- use obligation that is no less than [***] from the date of disclosure, unless otherwise approved in writing by AstraZeneca); 

6.2.5. made by or on behalf of the receiving Party in connection with prosecuting or defending litigation; provided, however,
that best efforts shall be taken to assure confidential treatment of such information; or 
 6.2.6. made by or on behalf of
the receiving Party in connection with exercising its rights hereunder, to its Affiliates and potential or actual collaborators; provided, 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 33 

 
however, that such persons shall be subject to obligations of confidentiality and non-use with respect to such Confidential Information
substantially similar to the obligations of confidentiality and non-use of the receiving Party pursuant to this Article 6 (CONFIDENTIALITY AND NON- DISCLOSURE) (with a
duration of confidentiality and non-use obligation that is no less than [*** ***] from the date of disclosure). 

6.3. Use of Name. Except as expressly provided herein, neither Party shall use the name, logo or Trademark of the other Party or
any of its Affiliates or any of its or their (sub)licensees (or Sublicensees) (or any abbreviation or adaptation thereof) in any publication, press release, marketing and promotional material or other form of publicity without the prior written
approval of such other Party in each instance. The restrictions imposed by this Section 6.3 (Use of Names) shall not prohibit (i) either Party from making any disclosure identifying the other Party to the extent required in connection with
its exercise of its rights or obligations under this Agreement and (ii) either Party from making any disclosure identifying the other Party that is required by Applicable Law or the rules of a stock exchange on which the securities of the
disclosing Party are listed (or to which an application for listing has been submitted). Notwithstanding the foregoing, each Party and its Affiliates may disclose on its website and in its promotional materials that the other Party is a development
partner of such Party and may utilize the other Party’s name and logo in conjunction with such disclosure. 
 6.4. Public
Announcements. The Parties will discuss in good faith with the aim to agree upon the content of a press release, the release of which the Parties shall coordinate in order to accomplish such release by Licensee within [***] after the Effective
Date. Neither Party shall issue any other public announcement, press release or other public disclosure regarding this Agreement or its subject matter without the other Party’s prior written consent, which consent shall not be unreasonably
withheld, except for any such disclosure that is, in the opinion of the disclosing Party’s counsel, required by Applicable Law or the rules of a stock exchange on which the securities of the disclosing Party are listed (or to which an
application for listing has been submitted). In the event a Party is, in the opinion of its counsel, required by Applicable Law or the rules of a stock exchange on which its securities are listed (or to which an application for listing has been
submitted) to make such a public disclosure, such Party shall submit the proposed disclosure in writing to the other Party as far in advance as reasonably practicable (and in no event less than [***] prior to the anticipated date of disclosure) so
as to provide a reasonable opportunity to comment thereon. Neither Party shall be required to seek the permission of the other Party to repeat any information regarding the terms of this Agreement or any amendment hereto that has already been
publicly disclosed by such Party or by the other Party, in accordance with this Section 6.4 (Public Announcements); provided that such information remains accurate as of such time and provided the frequency and form of such disclosure
are reasonable. 
 6.5. Publications. The Parties recognize the desirability of publishing and publicly disclosing the results
of and information regarding, activities under this Agreement. Accordingly, Licensee shall be free to publicly disclose the results of and information regarding, activities under this Agreement, subject to prior review by AstraZeneca of any
disclosure of AstraZeneca’s Confidential Information for issues of patentability and protection of such Confidential Information, in a manner consistent with Applicable Law and industry practices, as

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 34 

 
provided in this Section 6.5 (Publications). Accordingly, prior to publishing or disclosing any Confidential Information of AstraZeneca, Licensee shall provide AstraZeneca with drafts of
proposed abstracts, manuscripts or summaries of presentations that cover such Confidential Information. AstraZeneca shall respond promptly through its designated representative and in any event no later than [***] after receipt of such proposed
publication or presentation or such shorter period as may be required by the publication or presentation. Licensee agrees to allow a reasonable period (not to exceed [***]) to permit filings for patent protection and to otherwise address issues of
Confidential Information or related competitive harm to the reasonable satisfaction of AstraZeneca. In addition, Licensee shall give due regard to comments furnished by AstraZeneca and such comments shall not be unreasonably rejected. In the event
that AstraZeneca desires to publish AstraZeneca Know-How, AstraZeneca shall not submit any publications relating to the AstraZeneca Know-How without Licensee’s
prior written consent not to be unreasonable withheld. 
 6.6. Return of Confidential Information. Upon the effective date of
the expiration or termination of this Agreement for any reason, either Party may request in writing and the non-requesting Party shall either, with respect to Confidential Information to which such non- requesting Party does not retain rights under the surviving provisions of this Agreement, at the requesting Party’s election, (i) promptly destroy all copies of such Confidential Information in the
possession or control of the non-requesting Party and confirm such destruction in writing to the requesting Party or (ii) promptly deliver to the requesting Party, at the
non-requesting Party’s sole cost and expense, all copies of such Confidential Information in the possession or control of the non-requesting Party. Notwithstanding
the foregoing, the non-requesting Party shall be permitted to retain such Confidential Information (x) to the extent necessary or useful for purposes of performing any continuing obligations or exercising
any ongoing rights hereunder and, in any event, a single copy of such Confidential Information for archival purposes and (y) any computer records or files containing such Confidential Information that have been created solely by such non-requesting Party’s automatic archiving and back-up procedures, to the extent created and retained in a manner consistent with such
non-requesting Party’s standard archiving and back-up procedures, but not for any other uses or purposes. All Confidential Information shall continue to be subject
to the terms of this Agreement for the period set forth in Section 6.1 (Confidentiality Obligations). 
 6.7. Privileged
Communications. In furtherance of this Agreement, it is expected that the Parties may, from time to time, disclose to one another privileged communications with counsel, including opinions, memoranda, letters and other written, electronic and
verbal communications. Such disclosures are made with the understanding that they shall remain confidential in accordance with this Article 6 (CONFIDENTIALITY AND NON- DISCLOSURE), that they will not be deemed
to waive any applicable attorney-client or attorney work product or other privilege and that they are made in connection with the shared community of legal interests existing between AstraZeneca and Licensee, including the community of legal
interests in avoiding infringement of any valid, enforceable patents of Third Parties and maintaining the validity of the AstraZeneca Patents, Licensee Patents and Joint Patents. In the event of any litigation (or potential litigation) with a Third
Party related to this Agreement or the subject matter hereof, the Parties shall, upon either Party’s request, enter into a reasonable and customary joint defense agreement. In any event, each Party shall consult in a timely manner with 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 35 

 the other Party before engaging in any conduct (e.g., producing information or documents) in connection with
litigation or other proceedings that could conceivably implicate privileges maintained by the other Party. Notwithstanding anything contained in this Section 6.7 (Privileged Communications), nothing in this Agreement shall prejudice a
Party’s ability to take discovery of the other Party in disputes between them relating to the Agreement and no information otherwise admissible or discoverable by a Party shall become inadmissible or immune from discovery solely by this
Section 6.7 (Privileged Communications). 
 Article 7 

REPRESENTATIONS AND WARRANTIES 

7.1. Mutual Representations and Warranties. AstraZeneca and Licensee each represents and warrants to the other, as of the
Effective Date, and covenants, that: 
 7.1.1. It is a corporation duly organized, validly existing and in good standing under the
laws of the jurisdiction of its organization and has all requisite power and authority, corporate or otherwise, to execute, deliver and perform this Agreement; 

7.1.2. The execution and delivery of this Agreement and the performance by it of the transactions contemplated hereby have been duly
authorized by all necessary corporate action and do not violate: (i) such Party’s charter documents, bylaws or other organizational documents; (ii) in any material respect, any agreement, instrument or contractual obligation to which
such Party or its Affiliates is bound; (iii) any requirement of any Applicable Law; or (iv) any order, writ, judgment, injunction, decree, determination or award of any court or governmental agency presently in effect applicable to such
Party or its Affiliates; 
 7.1.3. This Agreement is a legal, valid and binding obligation of such Party enforceable against it in
accordance with its terms and conditions, subject to the effects of bankruptcy, insolvency or other laws of general application affecting the enforcement of creditor rights, judicial principles affecting the availability of specific performance and
general principles of equity (whether enforceability is considered a proceeding at law or equity); 
 7.1.4. It is not under any
obligation, contractual or otherwise, to any Person that conflicts with or is inconsistent in any material respect with the terms of this Agreement or that would impede the diligent and complete fulfillment of its obligations hereunder; and 

7.1.5. Neither it nor any of its Affiliates has been debarred or is subject to debarment and neither it nor any of its Affiliates will
use in any capacity, in connection with the services to be performed under this Agreement, any Person who has been debarred pursuant to Section 306 of the FFDCA or who is the subject of a conviction described in such section. It will inform the
other Party in writing promptly if it or any such Person who is performing services hereunder is debarred or is the subject of a conviction described in Section 306 or if any action, suit, claim, investigation or legal or administrative
proceeding is pending or, to the best of its or its Affiliates’ knowledge, is threatened, relating to the debarment or conviction of it or any such Person performing services hereunder. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 36 

 7.2. Additional Representations and Warranties of AstraZeneca. AstraZeneca
further represents and warrants to Licensee, as of the Effective Date, that AstraZeneca: (i) AstraZeneca has full legal or beneficial title and ownership to the AstraZeneca Patents listed on Schedule A as is necessary to grant the
licenses to Licensee to such AstraZeneca Patents that AstraZeneca grants pursuant to this Agreement; (ii) AstraZeneca has the rights necessary to grant the licenses to Licensee to AstraZeneca Know-How
that AstraZeneca grants pursuant to this Agreement; (iii) the Patents listed on Schedule A are, to AstraZeneca’s knowledge, the only Patents Controlled by AstraZeneca or its Affiliates that claim the Exploitation of a Licensed
Compound or Licensed Product; and (iv) the Patents included in the AstraZeneca Patents are not subject to any liens or encumbrances and AstraZeneca has not granted to any Third Party any rights or licenses under such Patents or Information that
would conflict with the licenses granted to Licensee hereunder. None of the AstraZeneca Patents listed on Schedule A are in- licensed by AstraZeneca. 

7.3. Additional Representations and Warranties of Licensee. Licensee further represents and warrants to AstraZeneca, as of the
Effective Date, that Licensee: (i) has conducted its own investigation and analysis of (a) the Patent and other proprietary rights of Third Parties as such rights relate to the Exploitation of the Licensed Compound and Licensed Products as
contemplated hereunder and (b) the potential infringement thereof; (ii) understands the complexity and uncertainties associated with possible claims of infringement of Patent or other proprietary rights of Third Parties, particularly those
relating to pharmaceutical products; and (iii) acknowledges and agrees that it is solely responsible for the risks of such claims. 

7.4. DISCLAIMER OF WARRANTIES. EXCEPT FOR THE EXPRESS WARRANTIES SET FORTH HEREIN, NEITHER PARTY MAKES ANY REPRESENTATIONS OR
GRANTS ANY WARRANTIES, EXPRESS OR IMPLIED, EITHER IN FACT OR BY OPERATION OF LAW, BY STATUTE OR OTHERWISE AND EACH PARTY SPECIFICALLY DISCLAIMS ANY OTHER WARRANTIES, WHETHER WRITTEN OR ORAL OR EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF QUALITY,
MERCHANTABILITY OR FITNESS FOR A PARTICULAR USE OR PURPOSE OR ANY WARRANTY AS TO THE VALIDITY OF ANY PATENTS OR THE NON-INFRINGEMENT OF ANY INTELLECTUAL PROPERTY RIGHTS OF THIRD PARTIES. 

7.5. ADDITIONAL WAIVER. EXCEPT AS EXPRESSLY PROVIDED FOR HEREIN, LICENSEE AGREES THAT: (i) THE ASTRAZENECA PATENTS ARE
LICENSED “AS IS,” “WITH ALL FAULTS,” AND “WITH ALL DEFECTS,” AND LICENSEE EXPRESSLY WAIVES ALL RIGHTS TO MAKE ANY CLAIM WHATSOEVER AGAINST ASTRAZENECA FOR MISREPRESENTATION OR FOR BREACH OF PROMISE, GUARANTEE OR
WARRANTY OF ANY KIND RELATING TO THE ASTRAZENECA PATENTS; (ii) LICENSEE AGREES THAT ASTRAZENECA WILL HAVE NO LIABILITY TO LICENSEE FOR ANY ACT OR OMISSION IN THE PREPARATION, FILING, PROSECUTION, MAINTENANCE, ENFORCEMENT, DEFENSE OR OTHER
HANDLING OF THE ASTRAZENECA PATENTS; AND (iii) LICENSEE IS SOLELY RESPONSIBLE FOR DETERMINING WHETHER THE ASTRAZENECA PATENTS HAVE APPLICABILITY OR UTILITY IN LICENSEE’S CONTEMPLATED EXPLOITATION OF THE LICENSED PRODUCTS AND LICENSEE
ASSUMES ALL RISK AND LIABILITY IN CONNECTION WITH SUCH DETERMINATION. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 37 

 7.6. Anti-Bribery and Anti-Corruption Compliance. 

7.6.1. Licensee agrees, on behalf of itself, its officers, directors and employees and on behalf of its Affiliates, agents,
representatives, consultants and subcontractors hired in connection with the Exploitation of a Licensed Compound or Licensed Product (together with Licensee, the “Licensee Representatives”) that with respect to Licensee’s
performance of its obligations hereunder: 
 (i) The Licensee Representatives shall not directly or indirectly pay, offer or promise to pay
or authorize the payment of any money or give, offer or promise to give or authorize the giving of anything else of value to: (a) any Government Official in order to influence official action; (b) any Person (whether or not a Government
Official) (1) to influence such Person to act in breach of a duty of good faith, impartiality or trust (“acting improperly”), (2) to reward such Person for acting improperly or to induce that Person to act improperly or (3) where
such Person would be acting improperly by receiving the money or other thing of value; or (c) any Person (whether or not a Government Official) while knowing or having reason to know that all or any portion of the money or other thing of value
will be paid, offered, promised or given to or will otherwise benefit, a Government Official in order to influence official action for or against either Party in connection with the matters that are the subject of this Agreement. 

(ii) The Licensee Representatives shall not, directly or indirectly, solicit, receive or agree to accept any payment of money or anything else
of value in violation of the Anti-Corruption Laws. 
 7.6.2. The Licensee Representatives shall comply with the Anti- Corruption Laws
and shall not take any action that will, or would reasonably be expected to, cause AstraZeneca or its Affiliates to be in violation of any such laws. 

7.6.3. Licensee, on behalf of itself and the other Licensee Representatives, represents and warrants to AstraZeneca that: (i) all
information provided by Licensee to AstraZeneca in any anti-bribery and corruption due diligence checklist or similar due diligence process is true, complete and correct at the date it was provided in all material respects and that any material
changes in circumstances relevant to the answers provided in such exercise shall be immediately disclosed to AstraZeneca; and (ii) to the best of Licensee’s and its Affiliates’ knowledge, no Licensee Representative that will
participate or support Licensee’s performance of its obligations hereunder has, directly or indirectly, (a) paid, offered or promised to pay or authorized the payment of any money, (b) given, offered or promised to give or authorized
the giving of anything else of value or (c) solicited, received or agreed to accept any payment of money or anything else of value, in each case ((a), (b) and (c)), in violation of the Anti-Corruption Laws during the three (3) years
preceding the date of this Agreement. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 38 

 7.6.4. Licensee shall promptly provide AstraZeneca with written notice of the
following events: (i) upon becoming aware of any breach or violation by Licensee or other Licensee Representative of any representation, warranty or undertaking set forth in Sections 7.6.1 through 7.6.3 above; or (ii) upon receiving a
formal notification that it is the target of a formal investigation by a governmental authority for a Material Anti-Corruption Law Violation or upon receipt of information from any of the Licensee Representatives connected with this Agreement that
any of them is the target of a formal investigation by a governmental authority for a Material Anti-Corruption Law Violation. 

7.6.5. On the occurrence of any of the following events: (A) AstraZeneca becomes aware of that Licensee (or any other Licensee
Representative) is in material breach of any representation, warranty or undertaking in Sections 7.6.1 through 7.6.3 or of the Anti- Corruption Laws; or (B) (i) any Material Anti-Corruption Law Violation by Licensee or any other Licensee
Representative or (ii) receipt of notification under Section 7.6.4, in either case ((A) or (B)), AstraZeneca shall have the right, in addition to any other rights or remedies under this Agreement or to which AstraZeneca may be entitled in
law or equity, to upon written notice to Licensee terminate this Agreement in its entirety with immediate effect (provided, however, that with respect to (A) or (B)(ii) above, if the material breach was by a Person other than Licensee, then
AstraZeneca shall not have the right to terminate the Agreement if Licensee, at Licensee’s election, (x) terminates the applicable agreement with such Person or (y) takes such steps, including by requiring Licensee to agree to such
additional measures, representations, warranties, undertakings and other provisions, in each case, as AstraZeneca believes in good faith are reasonably necessary in order to avoid a potential violation or continuing violation by such Person of the
Anti-Corruption Laws). 
 7.6.6. Any termination of this Agreement pursuant to Section 7.6.5 shall be treated as a termination
by AstraZeneca for Licensee’s breach and the consequences of termination set forth in Section 9.4.2 (Consequences of Termination; Termination by AstraZeneca), as applicable, shall apply and additionally, subject to the accrued rights of
the Parties prior to termination, AstraZeneca shall have no liability to Licensee for any fees, reimbursements or other compensation or for any loss, cost, claim or damage resulting, directly or indirectly, from such termination. 

7.6.7. Licensee shall be responsible for any breach of any representation, warranty or undertaking in this Section 7.6
(Anti-Bribery and Anti-Corruption Compliance) or of the Anti-Corruption Laws by any Licensee Representative. 
 7.6.8. AstraZeneca
may disclose the terms of this Agreement or any action taken under this Section 7.6 (Anti-Bribery and Anti-Corruption Compliance) to prevent a potential violation or continuing violation of applicable Anti-Corruption Laws, including the
identity of Licensee or a Licensee Representative and the payment terms, to any governmental authority if AstraZeneca determines, upon advice of counsel, that such disclosure is necessary. 

7.6.9. Licensee represents and warrants that (i) it has reviewed its internal programs in relation to the Anti-Corruption Laws and the
ability of the Licensee Representatives to adhere to such laws in performance of its obligations hereunder in advance of the signing of this Agreement and (ii) it and the other Licensee Representatives can and will continue to comply with such
Anti-Corruption Laws in performance of its obligations hereunder. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 39 

 Article 8 

INDEMNITY 
 8.1.
Indemnification of AstraZeneca. Licensee shall indemnify AstraZeneca, its Affiliates, its and their respective directors, officers, employees and agents and defend and save each of them harmless, from and against any and all losses, damages,
liabilities, costs and expenses (including reasonable attorneys’ fees and expenses) (collectively, “Losses”) in connection with any and all suits, investigations, claims or demands of Third Parties (collectively, “Third
Party Claims”) arising from or occurring as a result of: (i) the breach by Licensee of this Agreement, including the enforcement of AstraZeneca’s rights under this Section 8.1 (Indemnification of AstraZeneca); (ii) the gross
negligence or willful misconduct on the part of Licensee or its Affiliates or its or their Sublicensees or its or their distributors or contractors or its or their respective directors, officers, employees or agents in performing its or their
obligations under this Agreement; or (iii) the Exploitation by Licensee or any of its Affiliates or its or their Sublicensees or its or their distributors or contractors of any Licensed Product or the Licensed Compound in or for the Territory,
except, in each case ((i), (ii) and (iii)), for those Losses for which AstraZeneca has an obligation to indemnify Licensee pursuant to Section 8.2 (Indemnification of Licensee) hereof, as to which Losses each Party shall indemnify the other to
the extent of their respective liability. 
 8.2. Indemnification of Licensee. AstraZeneca shall indemnify Licensee, its
Affiliates and its and their respective directors, officers, employees and agents and defend and save each of them harmless, from and against any and all Losses in connection with any and all Third Party Claims arising from or occurring as a result
of: (i) the breach by AstraZeneca of this Agreement, including the enforcement of Licensee’s rights under this Section 8.2 (Indemnification of Licensee); (ii) the gross negligence or willful misconduct on the part of AstraZeneca or
its Affiliates or its or their respective directors, officers, employees or agents in performing its obligations under this Agreement; or (iii) the Exploitation by AstraZeneca or any of its Affiliates or its or their sublicensees or its or
their distributors or contractors of any Licensed Product or the Licensed Compound in or for the Territory prior to the Effective Date; except, in each case (i), (ii) and (iii), for those Losses for which Licensee has an obligation to indemnify
AstraZeneca pursuant to Section 8.1 (Indemnification of AstraZeneca) hereof, as to which Losses each Party shall indemnify the other to the extent of their respective liability for the Losses. 

8.3. Indemnification Procedures. 

8.3.1. Notice of Claim. All indemnification claims in respect of a Party, its Affiliates or its or their (sub)licensees or their
respective directors, officers, employees and agents shall be made solely by such Party to this Agreement (the “Indemnified Party”). The Indemnified Party shall give the indemnifying Party prompt written notice (an
“Indemnification Claim Notice”) of any Losses or discovery of fact upon which such indemnified Party intends to base a request for indemnification under this Article 8 (INDEMNITY), but in no event shall the indemnifying Party be
liable for any Losses that result from any delay in providing such notice. Each Indemnification Claim Notice must contain a description of the claim and the nature and amount of such Loss (to the extent that the nature and amount of such Loss is
known at such time). 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 40 

 The Indemnified Party shall furnish promptly to the indemnifying Party copies of all papers and official
documents received in respect of any Losses and Third Party Claims. 
 8.3.2. Control of Defense. The indemnifying Party shall
have the right to assume the defense of any Third Party Claim by giving written notice to the Indemnified Party within [***] after the indemnifying Party’s receipt of an Indemnification Claim Notice, provided that the indemnifying Party
expressly agrees to indemnify the Indemnified Party with respect to such Third Party Claim. The assumption of the defense of a Third Party Claim by the indemnifying Party shall not be construed as an acknowledgment that the indemnifying Party is
liable to indemnify the Indemnified Party in respect of the Third Party Claim, nor shall it constitute a waiver by the indemnifying Party of any defenses it may assert against the Indemnified Party’s claim for indemnification. Upon assuming the
defense of a Third Party Claim, the indemnifying Party may appoint as lead counsel in the defense of the Third Party Claim any legal counsel selected by the indemnifying Party; provided that it obtains the prior written consent of the
Indemnified Party (which consent shall not be unreasonably withheld, conditioned or delayed). In the event the indemnifying Party assumes the defense of a Third Party Claim, the Indemnified Party shall immediately deliver to the indemnifying Party
all original notices and documents (including court papers) received by the Indemnified Party in connection with the Third Party Claim. Should the indemnifying Party assume the defense of a Third Party Claim, except as provided in Section 8.3.3
(Indemnification Procedures; Right to Participate in Defense), the indemnifying Party shall not be liable to the Indemnified Party for any legal expenses subsequently incurred by such Indemnified Party in connection with the analysis, defense or
settlement of the Third Party Claim unless specifically requested in writing by the indemnifying Party. In the event that it is ultimately determined that the indemnifying Party is not obligated to indemnify, defend or hold harmless the Indemnified
Party from and against the Third Party Claim, the Indemnified Party shall reimburse the indemnifying Party for any and all reasonable and verifiable costs and expenses (including attorneys’ fees and costs of suit) and any Losses incurred by the
indemnifying Party in accordance with this Article 8 (INDEMNITY) in its defense of the Third Party Claim. 
 8.3.3. Right to
Participate in Defense. Any Indemnified Party shall be entitled to participate in the defense of such Third Party Claim and to employ counsel of its choice for such purpose; provided, however, that such employment shall be at the
Indemnified Party’s sole cost and expense unless (i) the employment thereof has been specifically authorized in writing by the indemnifying Party in writing (in which case, the defense shall be controlled as provided in Section 8.3.2
(Indemnification Procedures; Control of Defense)), (ii) the indemnifying Party has failed to assume the defense and employ counsel in accordance with Section 8.3.2 (Indemnification Procedures; Control of Defense) (in which case the Indemnified
Party shall control the defense) or (iii) the interests of the indemnitee and the indemnifying Party with respect to such Third Party Claim are sufficiently adverse to prohibit the representation by the same counsel of both Parties under
Applicable Law, ethical rules or equitable principles (in which case, the Indemnified Party shall control its defense). 
 8.3.4.
Settlement. With respect to any Losses relating solely to the payment of money damages in connection with a Third Party Claim and that shall not result in the applicable indemnitee(s) becoming subject to injunctive or other relief or
otherwise adversely affecting the business of the Indemnified Party in any manner and as to which the indemnifying 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 41 

 
Party shall have acknowledged in writing the obligation to indemnify the applicable indemnitee hereunder, the indemnifying Party shall have the sole right to consent to the entry of any judgment,
enter into any settlement or otherwise dispose of such Loss, on such terms as the indemnifying Party, in its sole discretion, shall deem appropriate. With respect to all other Losses in connection with Third Party Claims, where the indemnifying
Party has assumed the defense of the Third Party Claim in accordance with Section 8.3.2 (Indemnification Procedures; Control of Defense), the indemnifying Party shall have authority to consent to the entry of any judgment, enter into any
settlement or otherwise dispose of such Loss; provided it obtains the prior written consent of the Indemnified Party (which consent shall not be unreasonably withheld, conditioned or delayed). If the indemnifying Party does not assume and
conduct the defense of a Third Party Claim as provided above, the Indemnified Party may defend against such Third Party Claim; provided that the Indemnified Party shall not settle any Third Party Claim without the prior written consent of the
indemnifying Party (which consent shall not be unreasonably withheld, conditioned or delayed). 
 8.3.5. Cooperation.
Regardless of whether the indemnifying Party chooses to defend or prosecute any Third Party Claim, the Indemnified Party shall and shall cause each indemnitee to, cooperate in the defense or prosecution thereof and shall furnish such records,
information and testimony, provide such witnesses and attend such conferences, discovery proceedings, hearings, trials and appeals as may be reasonably requested in connection therewith. Such cooperation shall include access during normal business
hours afforded to the indemnifying Party to and reasonable retention by the Indemnified Party of, records and information that are reasonably relevant to such Third Party Claim and making Indemnified Parties and other employees and agents available
on a mutually convenient basis to provide additional information and explanation of any material provided hereunder and the indemnifying Party shall reimburse the Indemnified Party for all its, its Affiliates’ and its and their
(sub)licensees’ or their respective directors’, officers’, employees’ and agents’, as applicable, reasonable and verifiable out-of-pocket
expenses in connection therewith. 
 8.3.6. Expenses. Except as provided above, the costs and expenses, including fees and
disbursements of counsel, incurred by the Indemnified Party and its Affiliates and its and their (sub)licensees and their respective directors, officers, employees and agents, as applicable, in connection with any claim shall be reimbursed on a
[***] basis by the indemnifying Party, without prejudice to the indemnifying Party’s right to contest the Indemnified Party’s right to indemnification and subject to refund in the event the indemnifying Party is ultimately held not to be
obligated to indemnify the Indemnified Party. 
 8.4. Special, Indirect and Other Losses. EXCEPT (i) IN THE EVENT THE
WILLFUL MISCONDUCT OR FRAUD OF A PARTY OR OF A PARTY’S BREACH OF ITS OBLIGATIONS UNDER ARTICLE 6 (CONFIDENTIALITY AND NON-DISCLOSURE), OR (ii) TO THE EXTENT ANY SUCH DAMAGES ARE REQUIRED TO BE PAID TO A
THIRD PARTY AS PART OF A CLAIM FOR WHICH A PARTY PROVIDES INDEMNIFICATION UNDER THIS ARTICLE 8, NEITHER PARTY NOR ANY OF ITS AFFILIATES OR (SUB)LICENSEES SHALL BE LIABLE IN CONTRACT, TORT, NEGLIGENCE, BREACH OF STATUTORY DUTY OR OTHERWISE FOR ANY
SPECIAL, INDIRECT, INCIDENTAL, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES OR FOR LOSS OF PROFITS SUFFERED BY THE OTHER PARTY. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 42 

 8.5. Insurance. Licensee shall have and maintain such types and amounts of
insurance covering its Exploitation of the Licensed Compound and Licensed Products as is (i) normal and customary in the pharmaceutical industry generally for parties similarly situated and (ii) otherwise required by Applicable Law. Upon
request by AstraZeneca, Licensee shall provide to AstraZeneca evidence of its insurance coverage, including copies of applicable insurance policies. The insurance policies shall be under an occurrence form, but if only a claims-made form is
available to Licensee, then Licensee shall continue to maintain such insurance after the expiration or termination of this Agreement in its entirety for a period of [***]. 

Article 9 
 TERM AND
TERMINATION 
 9.1. Term and Expiration. This Agreement shall commence on the Effective Date and, unless earlier
terminated in accordance herewith, shall continue in force and effect until the date of expiration of the last Royalty Term for the last Licensed Product (such period, the “Term”). Following the expiration of the Royalty Term for a
Licensed Product in a country, the grants in Section 2.1 (Grants to Licensee) shall become non-exclusive, fully-paid, royalty-free, and irrevocable for such Licensed Product in such country. For clarity,
upon the expiration of the Term, the grants in Section 2.1 (Grants to Licensee) shall become non-exclusive, fully-paid, royalty-free, and irrevocable in their entirety. 

9.2. Termination. 

9.2.1. Material Breach. In the event that either Party (the “Breaching Party”) shall be in material breach in
the performance of any of its obligations under this Agreement, in addition to any other right and remedy the other Party (the “Non-Breaching Party”) may have, the Non-Breaching Party may terminate this Agreement by providing [***] (the “Notice Period”) prior written notice (the “Termination Notice”) to the Breaching Party and specifying the
breach and its claim of right to terminate; provided that (i) the termination shall not become effective at the end of the Notice Period if the Breaching Party cures the breach specified in the Termination Notice during the Notice Period
(or, if such default cannot be cured within the Notice Period, if the Breaching Party commences actions to cure such breach within the Notice Period and thereafter diligently continues such actions), and (ii) with respect to an uncured material
breach consisting of [***] after First Commercial Sale of a Licensed Product in the Territory, AstraZeneca shall have the right to terminate this Agreement, in its sole discretion, solely with respect to [***]. 

9.2.2. Termination for Patent Challenge. In the event that Licensee or any of its Affiliates or Sublicensees, anywhere in the
Territory, institutes, prosecutes or otherwise participates in (or in any way aids any Third Party in instituting, prosecuting or participating in), at law or in equity or before any administrative or regulatory body, including the U.S. Patent and

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 43 

 
Trademark Office or its foreign counterparts, any claim, demand, action or cause of action for declaratory relief, damages or any other remedy or for an enjoinment, injunction or any other
equitable remedy, including any interference, re-examination, opposition or any similar proceeding, alleging that any claim in a AstraZeneca Patent listed on Schedule A is invalid, unenforceable or
otherwise not patentable or would not be infringed by Licensee’s activities absent the rights and licenses granted hereunder, AstraZeneca shall have the right to immediately terminate this Agreement in its entirety, including the rights of any
Sublicensees, upon written notice to Licensee; provided, however, that if any such proceeding is brought by a Sublicensee, Licensee shall have a period of [***] to cause such Sublicensee to cease such proceeding or terminate the applicable
sublicense agreement. 
 9.2.3. Termination for Insolvency. In the event that either Party (i) files for protection under
bankruptcy or insolvency laws, (ii) makes an assignment for the benefit of creditors, (iii) appoints or suffers appointment of a receiver or trustee over substantially all of its property that is not discharged within [***] after such
filing, (iv) proposes a written agreement of composition or extension of its debts, (v) proposes or is a party to any dissolution or liquidation, (vi) files a petition under any bankruptcy or insolvency act or has any such petition
filed against that is not discharged within [***] of the filing thereof or (vii) admits in writing its inability generally to meet its obligations as they fall due in the general course, then the other Party may terminate this Agreement in its
entirety effective immediately upon written notice to such Party. 
 9.2.4. Termination by Licensee. Licensee shall have the
right to terminate this Agreement in its entirety upon the later of (i) [***] prior written notice to AstraZeneca and (ii) [***] after delivery by Licensee to AstraZeneca of the Program Data Package. Following any such notice of termination,
Licensee shall have no further obligation pursuant to Section 3.3.1 (Development; Diligence) or Section 3.5.1 (Commercialization; Diligence) to further Exploit any Licensed Compound or Licensed Product (except as specifically set forth in
Section 9.4 (Consequences of Termination). 
 9.3. Rights in Bankruptcy. All rights and licenses granted under or pursuant
to this Agreement by Licensee or AstraZeneca are and shall otherwise be deemed to be, for purposes of Section 365(n) of the U.S. Bankruptcy Code or any analogous provisions in any other country or jurisdiction, licenses of right to
“intellectual property” as defined under Section 101 of the U.S. Bankruptcy Code. The Parties agree that the Parties, as licensees of such rights under this Agreement, shall retain and may fully exercise all of their rights and
elections under the U.S. Bankruptcy Code or any analogous provisions in any other country or jurisdiction. The Parties further agree that, in the event of the commencement of a bankruptcy proceeding by or against either Party under the U.S.
Bankruptcy Code or any analogous provisions in any other country or jurisdiction, the Party hereto that is not a Party to such proceeding shall be entitled to a complete duplicate of (or complete access to, as appropriate) any such intellectual
property and all embodiments of such intellectual property, which, if not already in the non-subject Party’s possession, shall be promptly delivered to it (i) upon any such commencement of a
bankruptcy proceeding upon the non-subject Party’s written request therefor, unless the Party subject to such proceeding elects to continue to perform all of its obligations under this Agreement or
(ii) if not delivered under clause (i) above, following the rejection of this Agreement by or on behalf of the Party subject to such proceeding upon written request therefor by the non-subject Party.

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 44 

 9.4. Consequences of Termination. 

9.4.1. Termination by Licensee for Insolvency or Material Breach. In the event of a termination of this Agreement by Licensee in
its entirety in accordance with Sections 9.2.1 (Termination; Material Breach) or 9.2.3 (Termination; Termination for Insolvency) (but not Section 9.2.4 (Termination; Termination by Licensee)): 

(i) all rights and licenses granted by AstraZeneca hereunder shall immediately terminate, including, for clarity, except as set forth in
Section 9.4.4 (Consequences of Termination; Sublicense Survival), any sublicense granted by Licensee pursuant to Section 2.2 (Sublicenses); 

(ii) Licensee shall and hereby does, and shall cause its Affiliates and its and their Sublicensees to, when and as requested by AstraZeneca
(such request to be delivered prior to the effective date of such termination), [***] to AstraZeneca [***] (a) each Trademark related to a Licensed Compound or Licensed Product and (b) all Regulatory Documentation (including any Regulatory
Approvals) applicable to any Licensed Compound or Licensed Products then owned or Controlled by Licensee or any of its Affiliates; provided that if any such Regulatory Documentation or Regulatory Approval is [***] in a country, Licensee shall
provide AstraZeneca with all benefit of such Regulatory Documentation or Regulatory Approval, as applicable, and such assistance and cooperation as necessary or reasonably requested by AstraZeneca to [***] such Regulatory Documentation or Regulatory
Approval, as applicable, to AstraZeneca or its designee or, at AstraZeneca’s option, to enable AstraZeneca to obtain a substitute for such Regulatory Documentation or Regulatory Approval, as applicable, without disruption to AstraZeneca’s
Exploitation of the Licensed Compound or applicable Licensed Product(s); and 
 (iii) Licensee shall and hereby does, and shall cause its
Affiliates and its and their Sublicensees to, effective as of the effective date of termination, grant AstraZeneca a [***], in and to all Regulatory Documentation (including any Regulatory Approvals) then owned or Controlled by Licensee or any of
its Affiliates or its or their Sublicensees that are [***] solely to Exploit in the Territory any Licensed Compound or Licensed Product. 

9.4.2. Termination by AstraZeneca or by Licensee in accordance Section 9.2.4 (Termination by Licensee). In
the event of a termination of this Agreement by AstraZeneca in its entirety in accordance with Sections 9.2.1 (Termination; Material Breach), 9.2.2 (Termination; Termination for Patent Challenge) and 9.2.3 (Termination; Termination for Insolvency)
or by Licensee in accordance with Section 9.2.4 (Termination; Termination by Licensee): 
 (i) all rights and licenses granted by
AstraZeneca hereunder shall immediately terminate, including, for clarity, except as set forth in Section 9.4.4 (Consequences of Termination; Sublicense Survival), any sublicense granted by Licensee pursuant to Section 2.2 (Sublicenses);

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 45 

 (ii) Licensee shall and hereby does, and shall cause its Affiliates and its and their
Sublicensees to, when and as requested by AstraZeneca, [***] to AstraZeneca all of its right, title and interest in and to (a) each Trademark related to a Licensed Compound or Licensed Product and (b) all Regulatory Documentation
(including any Regulatory Approvals) applicable to any Licensed Compound or Licensed Products then owned or Controlled by Licensee or any of its Affiliates; provided that if any such Regulatory Documentation or Regulatory Approval is [***] in
a country, Licensee shall provide AstraZeneca with all benefit of such Regulatory Documentation or Regulatory Approval, as applicable, and such assistance and cooperation as necessary or reasonably requested by AstraZeneca to [***] such Regulatory
Documentation or Regulatory Approval, as applicable, to AstraZeneca or its designee or, at AstraZeneca’s option, to enable AstraZeneca to obtain a substitute for such Regulatory Documentation or Regulatory Approval, as applicable, without
disruption to AstraZeneca’s Exploitation of the Licensed Compound or applicable Licensed Product(s); 
 (iii) in the event of a
termination of this Agreement by AstraZeneca in its entirety in accordance with Sections 9.2.1 (Termination; Material Breach), 9.2.2 (Termination; Termination for Patent Challenge) and 9.2.3 (Termination; Termination for Insolvency), all
Confidential Information of Licensee solely relating to the Licensed Compound or any Licensed Product shall be treated as the Confidential Information of AstraZeneca; 

(iv) in the event of a termination of this Agreement by AstraZeneca in its entirety in accordance with Sections 9.2.1 (Termination; Material
Breach), 9.2.2 (Termination; Termination for Patent Challenge) and 9.2.3 (Termination; Termination for Insolvency), Licensee shall and hereby does, and shall cause its Affiliates and its and their Sublicensees to, effective as of the effective date
of termination, grant AstraZeneca [***], in and to (a) the Licensee Patents, (b) Licensee Know-How, (c) all Regulatory Documentation (including any Regulatory Approvals) then owned or Controlled
by Licensee or any of its Affiliates or its or their Sublicensees that are [***], and (d) any Improvements, in each case ((a) through (d)), solely to Exploit in the Territory any Licensed Compound or Licensed Product; 

(v) in the event of a termination of this Agreement by Licensee in its entirety in accordance with Sections 9.2.4 (Termination; Termination by
Licensee), Licensee shall and hereby does, and shall cause its Affiliates and its and their Sublicensees to, effective as of the effective date of termination, grant AstraZeneca [***], in and to (a) the Licensee Patents, (b) Licensee Know-How, (c) all Regulatory Documentation (including any Regulatory Approvals) then owned or Controlled by Licensee or any of its Affiliates or its or their Sublicensees that are [***], and (d) any
Improvements (the “Grant Back Rights”), in each case ((a) through (d)), solely to Exploit in the Territory any Licensed Compound or Licensed Product, provided that, [***] [***]***unaffected; 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 46 

 (vi) unless expressly prohibited by any Regulatory Authority or if in Licensee’s good
faith belief patient safety would be adversely impacted, at AstraZeneca’s written request (such request to be delivered prior to the effective date of such termination), Licensee shall and hereby does, and shall cause its Affiliates and its and
their Sublicensees to, (a) transfer control to AstraZeneca of any or all clinical studies involving Licensed Products being conducted by or on behalf of Licensee, an Affiliate or a Sublicensee as of the effective date of termination or
(b) continue to conduct such clinical studies for up to [***] to enable such transfer to be completed without interruption of any such clinical study, provided that (x) AstraZeneca shall not have any obligation to continue any
clinical study and (y) with respect to each clinical study for which such transfer is expressly prohibited by the applicable Regulatory Authority, if any, Licensee shall continue to conduct such clinical study to completion, provided,
that: 
 (A) in the event of a termination of this Agreement by AstraZeneca in its entirety in accordance with Section 9.2.3
(Termination; Insolvency), then AstraZeneca shall be responsible for reimbursing Licensee for [***] for activities pre-agreed by AstraZeneca (unless already committed in a contract with a third party and
clearly disclosed in the Program Data Package), 
 (B) in the event of a termination of this Agreement by AstraZeneca in its entirety in
accordance with Sections 9.2.1 (Termination; Material Breach) or 9.2.2 (Termination; Termination for Patent Challenge), then Licensee shall be responsible for the first [***] of costs and expenses incurred after the effective date of termination,
and thereafter AstraZeneca shall be responsible for reimbursing Licensee for [***] 
 ***[***], and 

(C) in the event of a termination of this Agreement by Licensee in its entirety in accordance with Section 9.2.4 (Termination; Termination
by Licensee), then Licensee shall be responsible for the first [***] of costs and expenses incurred after the effective date of termination, and thereafter AstraZeneca shall be responsible for reimbursing Licensee for [***] for activities agreed
with AstraZeneca in advance (unless already committed in a contract with a third party and clearly disclosed in the Program Data Package); and 

(vii) at AstraZeneca’ written request (such request to be delivered at the later of (A) the effective date of such termination, (B)
[***] after AstraZeneca’s receipt of the Program Data Package (if applicable), and (C) the end of the [***] (if applicable)), Licensee shall supply to AstraZeneca such quantities of the Licensed Compound and Licensed Products as
AstraZeneca indicates in written forecasts and orders therefor (to the extent Licensee has the ability to do so itself or through an Affiliate or a third party) from time to time at Licensee’s [***] until the earlier of (a) such time as
AstraZeneca has established an alternate, validated source of supply for the Licensed Compound and Licensed Products and AstraZeneca is receiving supply from such alternative source and (b) the [***] of the effective date of termination of this
Agreement. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 47 

 9.4.3. Termination in a Terminated Territory. In the event of a termination
of this Agreement with respect to a Terminated Territory by AstraZeneca pursuant to Section 9.2.1 (Termination; Material Breach) (but not in the case of any termination of this Agreement in its entirety): 

(i) all rights and licenses granted by AstraZeneca hereunder, including, for clarity, except as set forth in Section 9.4.4(i), any
sublicense granted by Licensee pursuant to Section 2.2 (Sublicenses), (a) shall automatically be deemed to be amended to exclude, if applicable, the right to market, promote, detail, distribute, import, sell for commercial use, offer for
commercial sale, file any Drug Approval Application for or seek any Regulatory Approval for Licensed Products in such Terminated Territory and (b) shall otherwise survive and continue in effect in such Terminated Territory solely for the
purpose of furthering any Commercialization of the Licensed Products in the Territory or any Development or Manufacturing in support thereof; 

(ii) Licensee shall and hereby does, and shall cause its Affiliates and its and their Sublicensees to, when and as requested by AstraZeneca,
[***] to AstraZeneca all of its right, title and interest in and to (a) each Trademark related the Licensed Compound or Licensed Products in such Terminated Territory and (b) all Regulatory Documentation (including any Regulatory
Approvals) applicable to the Exploitation of the Licensed Compound or Licensed 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 48 

 
Products solely in the Terminated Territory then owned or Controlled by Licensee or any of its Affiliates or its or their Sublicensees; provided that if any such Regulatory Documentation
or Regulatory Approval is [***] in a country, Licensee shall provide AstraZeneca with all benefit of such Regulatory Documentation or Regulatory Approval, as applicable, and such assistance and cooperation as necessary or reasonably requested by
AstraZeneca to [***] such Regulatory Documentation or Regulatory Approval, as applicable, to AstraZeneca or its designee or, at AstraZeneca’s option, to enable AstraZeneca to obtain a substitute for such Regulatory Documentation or Regulatory
Approval, as applicable, without disruption to AstraZeneca’s Exploitation of the Licensed Compound or applicable Licensed Product(s); 

(iii) all Confidential Information of Licensee solely relating to the Licensed Compound or any Licensed Product relating to the Terminated
Territory shall become Confidential Information of AstraZeneca; 
 (iv) Licensee shall and hereby does, and shall cause its Affiliates and
its and their Sublicensees to, effective as of the effective date of termination, grant AstraZeneca [***], in and to (a) the Licensee Patents, (b) Licensee Know-How, (c) all Regulatory
Documentation (including any Regulatory Approvals), including, for clarity, Regulatory Documentation outside the Terminated Territory then owned or Controlled by Licensee or any of its Affiliates or its or their Sublicensees that is [***], and
(d) any Improvements, in each case ((a) through (d)), solely to Exploit for commercial use in the Terminated Territory any Licensed Compound or Licensed Product, including the right to Manufacture, Develop and otherwise use the Licensed
Compound and the Licensed Products in the Field in the Territory for Exploitation in the Terminated Territory; and 
 (v) unless expressly
prohibited by any Regulatory Authority or if in Licensee’s good faith belief patient safety would be adversely impacted, at AstraZeneca’s written request (such request to be delivered prior to the effective date of such termination),
Licensee shall, and shall cause its Affiliates and its and their Sublicensees to (a) transfer control to AstraZeneca of any or all clinical studies involving Licensed Products being conducted by or on behalf of Licensee, an Affiliate or a
Sublicensee as of the effective date of termination in the Terminated Territory and (b) continue to conduct such clinical studies, at Licensee’s cost, for up to [***] to enable such transfer to be completed without interruption of any such
clinical study; provided that (x) AstraZeneca shall not have any obligation to continue any clinical study unless required by Applicable Law and (y) with respect to each clinical study for which such transfer is expressly prohibited
by the applicable Regulatory Authority, if any, Licensee shall continue to conduct such clinical study to completion (at Licensee’s cost and expense for up to [***] and thereafter AstraZeneca shall be responsible for reimbursing Licensee for
its cost and expenses (including internal costs) for such activities); and 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 49 

 (vi) at AstraZeneca’s written request (such request to be delivered prior to the
effective date of such termination), Licensee shall supply to AstraZeneca such quantities of the Licensed Compound and Licensed Products as AstraZeneca indicates in written forecasts and orders therefor (to the extent Licensee has the ability to do
so itself or through an Affiliate or a third party) from time to time at Licensee’s [***] until the earlier of (a) such time as AstraZeneca has established an alternate, validated source of supply for the Licensed Compound and Licensed
Products, and AstraZeneca is receiving supply from such alternative source and (b) [***] of the effective date of termination of this Agreement. 

9.4.4. Sublicense Survival. 

(i) Notwithstanding Section 9.4.1 (Consequences of Termination; Termination by Licensee) and Section 9.4.2 (Consequences of
Termination; Termination by AstraZeneca), upon termination of this Agreement, any sublicense granted by Licensee under this Agreement in accordance with Section 2.2 (Sublicenses) shall survive and shall automatically be assigned by Licensee to
AstraZeneca such that such sublicense becomes a direct license between AstraZeneca and such Sublicensee on the same terms and conditions as those set forth in this Agreement, to the extent applicable to the rights granted by Licensee to such
Sublicensee, provided that such sublicense was granted in accordance with the terms of Section 2.2 (Sublicenses) and that such Sublicensee is in compliance with the terms of the sublicense agreement and agrees to comply with all
applicable terms of this Agreement. 
 (ii) Notwithstanding Section 9.4.3 (Consequences of Termination; Termination in a Terminated
Territory), in the event this this Agreement is terminated with respect to a Terminated Territory by AstraZeneca, any sublicense granted by Licensee under this Agreement shall automatically be assigned by Licensee to AstraZeneca solely with respect
to the right to market, promote, detail, distribute, import, sell for commercial use, offer for commercial sale, file any Drug Approval Application for or seek any Regulatory Approval for Licensed Products in such Terminated Territory, such that
such portion of the sublicense becomes a direct license between AstraZeneca and such Sublicensee on the same terms and conditions as those set forth in this Agreement, to the extent applicable to the rights granted by Licensee to such Sublicensee
and to the extent applicable to such Licensed Product in such Terminated Territory; provided that such sublicense was granted in accordance with the terms of Section 2.2 and that such Sublicensee is in compliance with the terms of the
sublicense agreement and agrees to comply with all applicable terms of this Agreement. 
 9.5. Remedies. Except as otherwise
expressly provided herein, termination of this Agreement (either in its entirety or with respect to one (1) or more country(ies)) in accordance with the provisions hereof shall not limit remedies that may otherwise be available in law or
equity. 
 9.6. Accrued Rights; Surviving Obligations. Termination or expiration of this Agreement (either in its entirety or
with respect to one (1) or more region(s)) for any reason shall be without prejudice to any rights that shall have accrued to the benefit of a Party prior to such termination or expiration. Such termination or expiration shall not relieve a
Party from obligations that are expressly indicated to survive the termination or expiration of this Agreement. Without limiting the foregoing, [***] of this Agreement shall survive the termination or expiration of this Agreement for any

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 50 

 
reason. If this Agreement is terminated with respect to the Terminated Territory but not in its entirety, then following such termination the foregoing provisions of this Agreement shall remain
in effect with respect to the Terminated Territory (to the extent they would survive and apply in the event the Agreement expires or is terminated in its entirety or as otherwise necessary for any of AstraZeneca and its Affiliates and its and their
(sub)licensees to exercise their rights in the Terminated Territory) and all provisions not surviving in accordance with the foregoing shall terminate upon termination of this Agreement with respect to the Terminated Territory and be of no further
force and effect (and for the avoidance of doubt all provisions of this Agreement shall remain in effect with respect to all countries in the Territory other than the Terminated Territory). 

Article 10 

MISCELLANEOUS 

10.1. Force Majeure. Neither Party shall be held liable or responsible to the other Party or be deemed to have defaulted under
or breached this Agreement for failure or delay in fulfilling or performing any term of this Agreement (other than an obligation to make payments) when such failure or delay is caused by or results from events beyond the reasonable control of the non-performing Party, including fires, floods, earthquakes, hurricanes, embargoes, shortages, epidemics, quarantines, war, acts of war (whether war be declared or not), terrorist acts, insurrections, riots, civil
commotion, strikes, lockouts or other labor disturbances (whether involving the workforce of the non-performing Party or of any other Person), acts of God or acts, omissions or delays in acting by any
governmental authority (except to the extent such delay results from the breach by the non-performing Party or any of its Affiliates of any term or condition of this Agreement). The non-performing Party shall notify the other Party of such force majeure within [***] after such occurrence by giving written notice to the other Party stating the nature of the event, its anticipated duration and
any action being taken to avoid or minimize its effect. The suspension of performance shall be of no greater scope and no longer duration than is necessary and the non-performing Party shall use commercially
reasonable efforts to remedy its inability to perform. Without limitation to the foregoing, in the event that the suspension of performance continues for [***] after the date of the occurrence and such suspension of performance would constitute a
material breach of this Agreement in the absence of this Section 10.1 (Force Majeure), AstraZeneca shall have the right to terminate this Agreement pursuant to Section 9.2.1 (Termination; Material Breach) without regard to this
Section 10.1 (Force Majeure), except that in such event no cure period shall apply and AstraZeneca shall have the right to effect such termination upon written notice to Licensee, in its sole discretion. 

10.2. Export Control. This Agreement is made subject to any restrictions concerning the export of products or technical
information from the United States or other countries that may be imposed on the Parties from time to time. Each Party agrees that it will not export, directly or indirectly, any technical information acquired from the other Party under this
Agreement or any products using such technical information to a location or in a manner that at the time of export requires an export license or other governmental approval, without first obtaining the written consent to do so from the appropriate
agency or other governmental entity in accordance with Applicable Law. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 51 

 10.3. Assignment. Neither Party may assign its rights or, except as provided
in Section 3.8 (Subcontracting), delegate its obligations under this Agreement, whether by operation of law or otherwise, in whole or in part without the prior written consent of the other Party, which consent shall not be unreasonably
withheld, conditioned or delayed, except that either Party shall have the right, without such consent, (i) to perform any or all of its obligations and exercise any or all of its rights under this Agreement through any of its Affiliates or its
or their (sub)licensees, and (ii) assign any or all of its rights and delegate any or all of its obligations hereunder to any of its Affiliates or its or their (sub)licensees or to any successor in interest (whether by merger, acquisition,
asset purchase or otherwise) to all or substantially all of the business to which this Agreement relates; provided that such assigning Party shall provide written notice to the other Party within [***] after such assignment or delegation. Any
permitted successor of a Party or any permitted assignee of all of a Party’s rights under this Agreement that has also assumed all of such Party’s obligations hereunder in writing shall, upon any such succession or assignment and
assumption, be deemed to be a party to this Agreement as though named herein in substitution for the assigning Party, whereupon the assigning Party shall cease to be a party to this Agreement and shall cease to have any rights or obligations under
this Agreement. All validly assigned rights of a Party shall inure to the benefit of and be enforceable by, and all validly delegated obligations of such Party shall be binding on and be enforceable against, the permitted successors and assigns of
such Party; provided such Party, if it survives, shall remain jointly and severally liable for the performance of such delegated obligations under this Agreement. Any attempted assignment or delegation in violation of this Section 10.3
(Assignment) shall be void and of no effect. Notwithstanding anything else in Section 4.6 (Taxes), if either Licensee or AstraZeneca assigns this Agreement to an Affiliate or Third Party and, as a result of such assignment, Payments made
hereunder are subject to additional withholding Tax or Indirect Tax, such assigning Party shall be responsible for the resulting additional withholding Taxes or Indirect Taxes; provided, however, that if the non-assigning Party derives a Tax benefit (including through the use of foreign Tax credit) determined on a with and without basis as a result of such additional withholding or Indirect Tax, then the non-assigning Party shall promptly reimburse the assigning Party for the amount of such benefit; provided, further, that the non-assigning Party shall take all
commercially reasonable actions necessary to obtain any Tax benefit (including through the use of foreign Tax credit) with respect to such additional withholding Taxes or Indirect Tax and to defend such benefit in a Tax audit. 

10.4. Severability. If any provision of this Agreement is held to be illegal, invalid or unenforceable under any present or
future law and if the rights or obligations of either Party under this Agreement will not be materially and adversely affected thereby, (i) such provision shall be fully severable, (ii) this Agreement shall be construed and enforced as if
such illegal, invalid or unenforceable provision had never comprised a part hereof, (iii) the remaining provisions of this Agreement shall remain in full force and effect and shall not be affected by the illegal, invalid or unenforceable
provision or by its severance herefrom and (iv) in lieu of such illegal, invalid or unenforceable provision, there shall be added automatically as a part of this Agreement a legal, valid and enforceable provision as similar in terms to such
illegal, invalid or unenforceable provision as may be possible and reasonably acceptable to the Parties. To the fullest extent permitted by Applicable Law, each Party hereby waives any provision of law that would render any provision hereof illegal,
invalid or unenforceable in any respect. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 52 

 10.5. Dispute Resolution. 

10.5.1. Except as provided in Section 4.10 (Audit Dispute) or Section 10.10 (Equitable Relief), if a dispute arises between
the Parties in connection with or relating to this Agreement or any document or instrument delivered in connection herewith (a “Dispute”), then either Party shall have the right to refer such Dispute to the Senior Officers for
attempted resolution by good faith negotiations during a period of [***]. Any final decision mutually agreed to by the Executive Officers shall be conclusive and binding on the Parties. 

10.5.2. If such Executive Officers are unable to resolve any such Dispute within such [***] period, either Party shall be free to
institute binding arbitration in accordance with this Section 10.5.2 upon written notice to the other Party (an “Arbitration Notice”) and seek such remedies as may be available. Upon receipt of an Arbitration Notice by a Party,
the applicable Dispute shall be resolved by final and binding arbitration before a panel of three (3) experts with relevant industry experience (the “Arbitrators”). Each of Licensee and AstraZeneca shall promptly select one
(1) Arbitrator, which selections shall in no event be made later than [***] after the notice of initiation of arbitration. The third Arbitrator shall be chosen promptly by mutual agreement of the Arbitrator chosen by Licensee and the Arbitrator
chosen by AstraZeneca, but in no event later than [***] after the date that the last of such Arbitrators was appointed. The Arbitrators shall determine what discovery will be permitted, consistent with the goal of reasonably controlling the cost and
time that the Parties must expend for discovery; provided that the Arbitrators shall permit such discovery as they deem necessary to permit an equitable resolution of the dispute. The arbitration shall be administered by [***] (or its
successor entity) in accordance with the then current [***] (including the [***]), except as modified in this Agreement. The arbitration shall be held in New York, and the Parties shall use reasonable efforts to expedite the arbitration if requested
by either Party. The Arbitrators shall, within [***] after the conclusion of the arbitration hearing, issue a written award and statement of decision describing the essential findings and conclusions on which the award is based, including the
calculation of any damages awarded. The decision or award rendered by the Arbitrators shall be final and non-appealable, and judgment may be entered upon it in accordance with Applicable Law in the State of
Delaware or any other court of competent jurisdiction. The Arbitrators shall be authorized to award compensatory damages, but shall not be authorized to reform, modify or materially change this Agreement or any other agreements contemplated
hereunder. 
 10.5.3. Each Party shall bear its own counsel fees, costs, and disbursements arising out of the dispute resolution
procedures described in this Section 10.5 (Dispute Resolution), and shall pay an equal share of the fees and costs of the Arbitrators, as applicable, and all other general fees related to any arbitration described in Section 10.5.2;
provided, however, the Arbitrators shall be authorized to determine whether a Party is the prevailing Party, and if so, to award to that prevailing Party reimbursement for its reasonable counsel fees, costs and disbursements (including expert
witness fees and expenses, photocopy charges, or travel expenses), or the fees and costs of the Arbitrators, as applicable. Unless the Parties otherwise agree in writing, during the period of time that any arbitration proceeding described in

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 53 

 
Section 10.5.2 is pending under this Agreement, the Parties shall continue to comply with all those terms and provisions of this Agreement that are not the subject of such pending
arbitration proceeding. Nothing contained in this Agreement shall deny any Party the right to seek injunctive or other equitable relief from a court of competent jurisdiction in the context of a bona fide emergency or prospective irreparable harm,
and such an action may be filed and maintained notwithstanding any ongoing arbitration proceeding. All arbitration proceedings and decisions of the Arbitrators, as applicable, under Section 10.5.2 shall be deemed Confidential Information of
both Parties under Article 6 (CONFIDENTIALITY AND NON-DISCLOSURE). 
 10.6. Governing Law,
Jurisdiction and Service. 
 10.6.1. Governing Law. This Agreement shall be governed by and construed in accordance with
the Laws of the State of New York, excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this Agreement to the substantive law of another jurisdiction. The Parties agree to exclude
the application to this Agreement of the United Nations Convention on Contracts for the International Sale of Goods. 
 10.6.2.
Jurisdiction. Subject to Section 10.5 (Dispute Resolution) and Section 10.10 (Equitable Relief), the Parties hereby irrevocably and unconditionally consent to the exclusive jurisdiction of the courts of the County of New York, State
of New York for any action, suit or proceeding (other than appeals therefrom) arising out of or relating to this Agreement and agree not to commence any action, suit or proceeding (other than appeals therefrom) related thereto except in such courts.
The Parties irrevocably and unconditionally waive their right to a jury trial. 
 10.6.3. Venue. The Parties further hereby
irrevocably and unconditionally waive any objection to the laying of venue of any action, suit or proceeding (other than appeals therefrom) arising out of or relating to this Agreement in the courts of New York and hereby further irrevocably and
unconditionally waive and agree not to plead or claim in any such court that any such action, suit or proceeding brought in any such court has been brought in an inconven+ient forum. 

10.6.4. Service. Each Party further agrees that service of any process, summons, notice or document by registered mail to its
address set forth in Section 10.7.2 (Notices; Address for Notice) shall be effective service of process for any action, suit or proceeding brought against it under this Agreement in any such court. 

10.7. Notices. 

10.7.1. Notice Requirements. Any notice, request, demand, waiver, consent, approval or other communication permitted or required
under this Agreement shall be in writing, shall refer specifically to this Agreement and shall be deemed given only if delivered by hand or by internationally recognized overnight delivery service that maintains records of delivery, addressed to the
Parties at their respective addresses specified in Section 10.7.2 (Notices; Address for Notice) or to such other address as the Party to whom notice is to be given may have provided to the other Party in accordance with this Section 10.7.1
(Notices; Notice Requirements). Such Notice shall be deemed to have been given as of the date delivered by hand or on the second Business Day (at the place of delivery) after deposit with an internationally recognized overnight delivery service.
This Section 10.7.1 (Notices; Notice Requirements) is not intended to govern the day-to-day business communications necessary between the Parties in performing
their obligations under the terms of this Agreement. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 54 

 10.7.2. Address for Notice. 

If to Licensee, to: 
 Roivant
Sciences GmbH 
 Viaduktstrasse 8 

Basel 4051 
 Switzerland 

[***] 
 [***] 

with a copy (which shall not constitute notice) to: 

Roivant Sciences, Inc. 
 320
West 37th Street, 5th Floor 
 New York, NY 10018 [***] 

[***] 
 If to AstraZeneca, to:

 AstraZeneca AB 
 SE-431 83 Mölndal 
 Sweden 

[***] 
 with a copy (which shall
not constitute notice) to: 
 AstraZeneca AB 

Scientific Partnering and Alliances 

SE-431 83 Mölndal 

Sweden 
 [***] 

10.8. Entire Agreement; Amendments. This Agreement, together with the Schedules attached hereto, sets forth and constitutes the
entire agreement and understanding between the Parties with respect to the subject matter hereof and all prior agreements, understandings, promises and representations, whether written or oral, with respect thereto are superseded hereby. Each Party
confirms that it is not relying on any representations or warranties of the other Party except as specifically set forth in this Agreement. No amendment, modification, release or discharge shall be binding on the Parties unless in writing and duly
executed by authorized representatives of both Parties. In the event of any inconsistencies between this Agreement and any schedules or other attachments hereto, the terms of this Agreement shall control. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 55 

 10.9. English Language. This Agreement shall be written and executed in and
all other communications under or in connection with this Agreement shall be in, the English language. Any translation into any other language shall not be an official version thereof and in the event of any conflict in interpretation between the
English version and such translation, the English version shall control. 
 10.10. Equitable Relief. Each Party acknowledges
and agrees that the restrictions set forth in Article 6 (CONFIDENTIALITY AND NON-DISCLOSURE) are reasonable and necessary to protect the legitimate interests of the other Party and that such other Party would
not have entered into this Agreement in the absence of such restrictions and that any breach or threatened breach of any provision of such Articles may result in irreparable injury to such other Party for which there will be no adequate remedy at
law. In the event of a breach or threatened breach of any provision of such Articles, the non-breaching Party shall be authorized and entitled to seek from any court of competent jurisdiction injunctive
relief, whether preliminary or permanent, specific performance, which rights shall be cumulative and in addition to any other rights or remedies to which such non-breaching Party may be entitled in law or
equity. Both Parties agree to waive any requirement that the other (i) post a bond or other security as a condition for obtaining any such relief and (ii) show irreparable harm, balancing of harms, consideration of the public interest or
inadequacy of monetary damages as a remedy. Nothing in this Section 10.10 (Equitable Relief) is intended or should be construed, to limit either Party’s right to equitable relief or any other remedy for a breach of any other provision of
this Agreement. 
 10.11. Waiver and Non-Exclusion of Remedies. Any term or condition
of this Agreement may be waived at any time by the Party that is entitled to the benefit thereof, but no such waiver shall be effective unless set forth in a written instrument duly executed by or on behalf of the Party waiving such term or
condition. The waiver by either Party hereto of any right hereunder or of the failure to perform or of a breach by the other Party shall not be deemed a waiver of any other right hereunder or of any other breach or failure by such other Party
whether of a similar nature or otherwise. The rights and remedies provided herein are cumulative and do not exclude any other right or remedy provided by Applicable Law or otherwise available except as expressly set forth herein. 

10.12. No Benefit to Third Parties. Except as provided in Article 8 (INDEMNITY), covenants and agreements set forth in this
Agreement are for the sole benefit of the Parties hereto and their successors and permitted assigns and they shall not be construed as conferring any rights on any other Persons. 

10.13. Further Assurance. Each Party shall duly execute and deliver or cause to be duly executed and delivered, such further
instruments and do and cause to be done such further acts and things, including the filing of such assignments, agreements, documents and instruments, as may be necessary or as the other Party may reasonably request in connection with this Agreement
or to carry out more effectively the provisions and purposes hereof or to better assure and confirm unto such other Party its rights and remedies under this Agreement. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 56 

 10.14. Relationship of the Parties. It is expressly agreed that AstraZeneca,
on the one hand and Licensee, on the other hand, shall be independent contractors and that the relationship between the two Parties shall not constitute a partnership, joint venture or agency. Neither AstraZeneca, on the one hand, nor Licensee, on
the other hand, shall have the authority to make any statements, representations or commitments of any kind or to take any action that will be binding on the other, without the prior written consent of the other Party to do so. All persons employed
by a Party shall be employees of such Party and not of the other Party and all costs and obligations incurred by reason of any such employment shall be for the account and expense of such first Party. 

10.15. References. Unless otherwise specified, (i) references in this Agreement to any Article, Section or Schedule shall
mean references to such Article, Section or Schedule of this Agreement, (ii) references in any Section to any clause are references to such clause of such Section and (iii) references to any agreement, instrument or other document in this
Agreement refer to such agreement, instrument or other document as originally executed or, if subsequently amended, replaced or supplemented from time to time, as so amended, replaced or supplemented and in effect at the relevant time of reference
thereto. 
 10.16. Construction. Except where the context otherwise requires, wherever used, the singular shall include the
plural, the plural the singular, the use of any gender shall be applicable to all genders and the word “or” is used in the inclusive sense (and/or). Whenever this Agreement refers to a number of days, unless otherwise specified, such
number refers to calendar days. The captions of this Agreement are for convenience of reference only and in no way define, describe, extend or limit the scope or intent of this Agreement or the intent of any provision contained in this Agreement.
The term “including,” “include,” or “includes” as used herein shall mean including, without limiting the generality of any description preceding such term. The language of this Agreement shall be deemed to be the
language mutually chosen by the Parties and no rule of strict construction shall be applied against either Party hereto. 
 10.17.
Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. This Agreement may be executed by facsimile,
PDF format via email or other electronically transmitted signatures and such signatures shall be deemed to bind each Party hereto as if they were original signatures. 

[SIGNATURE PAGE FOLLOWS.] 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 57 

 THIS AGREEMENT IS EXECUTED by the authorized representatives of the Parties as of the date
first written above. 
  

									
	ASTRAZENECA AB (publ.)	  	        	  	ROIVANT SCIENCES GmbH

									
					
	By:	  	[***                                    
            ]	  	      	  	By:	  	[***                                    
            ]

									
					
	Name:	  	[***]	  	        	  	Name:	  	[***]                                     
     

									
					
	Title:	  	[***]                                     
       	  	        	  	Title:	  	[***]                                     
       

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

 Schedule A 

AstraZeneca Patents 
 [***] 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 A-1 

 Schedule B 

Transition Plan 
 This Transition Plan
details the Transfer Activities agreed upon by the Parties to transfer Development responsibility for [***] from AstraZeneca to Licensee. 
 Definitions in
this Transition Plan refer to the definitions in the main agreement between AstraZeneca and Licensee (the “Agreement”), unless otherwise stated. 

High level Scope (in-scope and
out-of-scope) 
 This Transition Plan covers all aspects of technology
transfer for [***] to allow the effective Development of this agent. 
 The plan is broken down into functional elements. The key functional elements
described are: 
  

	 	•	 	 Know-How 

 

	 	•	 	 Regulatory 

  

	 	•	 	 Drug Substance 

These functional elements will describe the knowledge, documents & material. 

Any internal documents related to the discovery or development of [***] (e.g. laboratory notebooks) will not be transferred to Licensee. 

Transitioning Strategy and Major Milestones 
 Transition
will focus initially on those activities and documents which are a priority for Licensee to start planning its development strategy. The intention is to complete other elements of transition within [***] of the Effective Date. 

In situations where Licensee feels specific expertise or knowledge exists with named individuals employed or contracted to work for AstraZeneca, Licensee may
seek access to those individuals for defined periods of time for knowledge transfer, and these named individuals will be identified specifically. 
 In the
event of any conflict between the terms and conditions of the Transition Plan and the terms and conditions of the Agreement, the terms and conditions of the Agreement shall take precedence. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 B-1 

 Transition Schedule 
  

	1)	 Know-how: Documents posted in the data room will be transferred to
Licensee within [***] of Effective Date of the Agreement. 

  

	2)	 Regulatory: Documents from the internal regulatory database ([***]) will be shared with Licensee within [***]
after the Effective Date of the Agreement. 

  

	3)	 Drug Substance: Within [***] after the Effective Date of the Agreement, [***] of [***] will be delivered to
Licensee EXW (Incoterms 2010) the facility designated by AstraZeneca. The drug substance will be provided on an “as-is” basis as described in Section 3.7 of the Agreement. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 B-2 

 Schedule C 

[***] 
 [***] 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 C-1EX-10.6

 Exhibit 10.6 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS
DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY
CAUSE COMPETITIVE HARM TO DERMAVANT SCIENCES LTD. IF PUBLICLY DISCLOSED. 

 

			
	Confidential	  	EXECUTION VERSION

 LICENSE AGREEMENT 

This LICENSE AGREEMENT (“Agreement”) is made as of January 31, 2018 (“Effective Date”), by and between
TheraVida, Inc., a corporation organized and existing under the laws of Delaware (“TheraVida”), having its principal place of business at 177 Bovet Rd., Suite 600, San Mateo, California 94402, and Roivant Sciences
GmbH, a Swiss limited liability company (“Roivant”), having an address of Viaduktstrasse 8, 4051 Basel, Switzerland. Roivant and TheraVida are referred to individually as a “Party” and collectively as the
“Parties.” 
 RECITALS 

WHEREAS, TheraVida has developed a proprietary pharmaceutical product comprising a combination of Oxybutynin and Pilocarpine and known as THVD-102; 
 WHEREAS, TheraVida owns and/or controls certain intellectual property rights relating to THVD-102; 
 WHEREAS, Roivant wishes to obtain from TheraVida an exclusive license to develop and, if
successful, commercialize THVD-102 and/or any other products within the scope of Roivant’s license under this Agreement, and TheraVida is willing to grant such license to Roivant, all under the terms and
conditions set forth herein. 
 NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants herein contained, the
receipt and sufficiency which are hereby acknowledged, Roivant and TheraVida hereby agree as follows. 
 ARTICLE 1 

DEFINITIONS 
 Unless the
context otherwise requires, the terms in this Agreement with initial letters capitalized, shall have the meanings set forth below, or the meaning as designated in the indicated places throughout this Agreement. 

1.1 “Active Pharmaceutical Ingredient” means any substance intended to be used in a pharmaceutical product that when
used becomes an active ingredient of that product intended to exert a pharmacological, immunological or metabolic action with a view to restoring, correcting or modifying physiological functions in man or animal or to make a medical diagnosis (such
pharmacological, immunological or metabolic action, the “Intended Action”); but excluding formulation components such as coatings, stabilizers, excipients or solvents, adjuvants or controlled release technologies. 

1.2 “Actual Combination Product Net Sales” has the meaning set forth in Section 1.56 (Net Sales). 

  
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 1.3 “Affiliate” means, with respect to a Party, any Person that,
directly or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with that Party, but for only so long as such control exists. For the purpose of this definition, “control” (including, with
correlative meaning, the terms “controlled by” and “under common control”) means (a) to possess, directly or indirectly, the power to direct the management or policies of an 

entity, whether through ownership of voting securities, by contract relating to voting rights or corporate governance, or otherwise; or (b) direct or
indirect beneficial ownership of more than fifty percent (50%) (or such lesser percentage which is the maximum allowed to be owned by a foreign corporation in a particular jurisdiction) of the voting share capital or other equity interest in such
entity. 
 1.4 “Aggregate Annual Net Sales” has the meaning set forth in Section 8.4(a) (Royalty Payments). 

1.5 “Applicable Laws” means the applicable provisions of any and all national, supranational, regional, state and local
laws, treaties, statutes, rules, regulations, administrative codes, guidances, ordinances, judgments, decrees, directives, injunctions, orders, permits (including MAAs) of or from any court, arbitrator, Regulatory Authority or Governmental Authority
having jurisdiction over or related to the subject item. 
 1.6 “Auditor” has the meaning set forth in
Section 8.11 (Audit Dispute). 
 1.7 “Business Day” means a day other than a Saturday, Sunday or a bank or other
public holiday in Basel or New York. 
 1.8 “Calendar Quarter” means each respective period of three
(3) consecutive months ending on March 31, June 30, September 30, and December 31. 
 1.9 “Calendar
Year” means each respective period of twelve (12) consecutive months ending on December 31. 
 1.10 “CFR”
means the U.S. Code of Federal Regulations. 
 1.11 “CIOMS” means the Council for International Organizations of
Medical Sciences. 
 1.12 “Claims” means all Third Party demands, claims, actions, proceedings and liability (whether
criminal or civil, in contract, tort or otherwise) for losses, damages, legal costs and other expenses of any nature. 
 1.13
“CMC” means chemistry, manufacturing, and controls. 
 1.14 “CMO” means contract manufacturing
organization. 
 1.15 “Combination Product” means any Licensed Product comprising a fixed-dose combination of:
(a) a Proprietary Drug and (b) at least one Other Active. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

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 1.16 “Commercialization” means the conduct of all activities
undertaken before and after Regulatory Approval relating to the promotion, marketing, sale and distribution (including importing, exporting, transporting, customs clearance, warehousing, invoicing, handling and delivering Licensed Products to
customers) of Licensed Products in or outside of the Territory, including: (a) sales force efforts, detailing, advertising, medical education, planning, marketing, sales force training, and sales and distribution; and (b) scientific and
medical affairs. For clarity, Commercialization does not include any Development activities, whether conducted before or after Regulatory Approval. “Commercialize” and “Commercializing” have correlative meanings.

 1.17 “Commercially Reasonable Efforts” means, with respect to an entity’s obligations under this Agreement
relating to Proprietary Drugs and Licensed Products, those efforts and resources that are consistent with the exercise of customary scientific and business practices as applied in the pharmaceutical industry for a company of a similar stage and size
as the entity and having similar resources, for development, regulatory, manufacturing and commercialization activities conducted with respect to products at a similar stage of development or commercialization and having similar commercial
potential, taking into account relative safety and efficacy, product profile, the regulatory environment, payors’ policies and regulations, competitiveness of the marketplace and the market potential of such products, the nature and extent of
market exclusivity, including patent coverage and regulatory data protection, and price and reimbursement status. 
 1.18
“Confidential Information” of a Party means all Know-How, unpublished patent applications and other information and data of a financial, commercial, business, operational or technical nature
of such Party that is disclosed or made available by or on behalf of such Party or any of its Affiliates to the other Party or any of its Affiliates, whether made available orally, in writing or in electronic or other form. The terms of this
Agreement are the Confidential Information of both Parties. 
 1.19 “Control” or “Controlled” means, with
respect to any Know-How, Patent or other intellectual property rights, that a Party has the legal authority or right (whether by ownership, license or otherwise, other than by virtue of any license granted to
such Party by the other Party pursuant to this Agreement) to grant a license, sublicense, access or other right (as applicable) under such Know-How, Patent, or other intellectual property rights to the other
Party on the terms and conditions set forth herein, in each case without breaching the terms of any agreement with a Third Party. 

1.20 “Develop” or “Development” means to develop (including clinical,
non-clinical and CMC development), analyze, test and conduct preclinical, clinical and all other regulatory trials for a Proprietary Drug or Licensed Product, including all post-approval clinical trials, as
well as all related regulatory activities and any and all activities pertaining to new Indications, pharmacokinetic studies and all related activities including work on new formulations, new methods of treatment and CMC activities including new
manufacturing methods. “Developing” and “Development” have correlative meanings. 
 1.21
“Disclosing Party” has the meaning set forth in Section 10.1(a) (Duty of Confidence—subsection (a)). 

1.22 “Dollar” means U.S. dollars, and “ $” shall be interpreted accordingly. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

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	Confidential	  	EXECUTION VERSION

  

 1.23 “EMA” means the European Medicines Agency or any successor
entity thereto. 
 1.24 “EU” means the European Union. 

1.25 “Excluded Claim” has the meaning set forth in Section 14.9(g) (Dispute Resolution—subsection (g)). 

1.26 “FDA” means the United States Food and Drug Administration or any successor entity thereto. 

1.27 “Field” means the treatment, prevention and diagnosis of any and all human and animal diseases, disorders and
conditions with the exception of overactive bladder. 
 1.28 “First Commercial Sale” means, with respect to any
Licensed Product in any country or jurisdiction in the Territory, the first arm’s length sale of such Licensed Product by Roivant, its Affiliates or Sublicensees to a Third Party for distribution, use or consumption in such country or
jurisdiction after Regulatory Approval has been obtained for such Licensed Product in such country or jurisdiction. 
 1.29
“Fiscal Year” means the period from [***] of a Calendar Year through [***] of the following Calendar Year. 
 1.30
“GAAP” means the then-current Generally Accepted Accounting Principles or International Financial Reporting Standards (IFRS), whichever is adopted as the standard financial accounting guideline in the United States for public
companies, as consistently applied. 
 1.31 “Generic Competition” means, on a Licensed
Product-by-Licensed Product and country-by-country basis, that, in a given Calendar
Quarter, unit sales of one or more Generic Versions of a Licensed Product in a country account for more than [***] of combined unit sales of (a) such Licensed Product and (b) such Generic Version(s), in such country, as determined by
reference to applicable sales data obtained from IQVIA or from such other independent source for such sales data as may be agreed upon by the Parties (provided that such other source, if any, shall be generally recognized as a reliable source for
pharmaceutical sales data among major pharmaceutical companies). 
 1.32 “Generic Version” means, with respect to a
Licensed Product, on a country-by-country basis, a pharmaceutical product that: (a) is sold in a given country by a Third Party, other than a Sublicensee, or any
other Third Party in a chain of distribution originating from Roivant, any of its Affiliates or any Sublicensee; (b) contains the same Proprietary Drug (and, if such Licensed Product is a fixed-dose combination that also contains any Active
Pharmaceutical Ingredient in addition to Oxybutynin and Pilocarpine, the same such other Active Pharmaceutical Ingredient) as such Licensed Product; and (c) has been approved for marketing by the relevant Regulatory Authority in such country in
reliance on the approved MAA for such Licensed Product in such country, including any such pharmaceutical product that has been approved for marketing (i) in the U.S., pursuant to Section 505(b)(2) or Section 505(j) of the Act (21
U.S.C. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

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	Confidential	  	EXECUTION VERSION

  

 §355(b)(2) or 21 U.S.C. §355(j), respectively), (ii) in the EU or an EU member state, as a
“generic medicinal product” pursuant to Article 10 of Parliament and Council Directive 2001/83/EC as amended, or (iii) in any other country or jurisdiction, pursuant to any equivalent of the foregoing laws, regulations or
directives, wherein the approval of such pharmaceutical product is based on reference to the approved MAA for such Licensed Product in such country and a demonstration of bio-equivalence to such Licensed
Product; and, in each case, which may be substituted for the Licensed Product without any action by the physician or health care practitioner. 

1.33 “Government Authority” means any federal, state, national, state, provincial or local government, or political
subdivision thereof, or any multinational organization or any authority, agency or commission entitled to exercise any administrative, executive, judicial, legislative, police, regulatory or taxing authority or power, any court or tribunal (or any
department, bureau or division thereof, or any governmental arbitrator or arbitral body). 
 1.34 “Incremental Withholding
Taxes” has the meaning set forth in Section 8.9(b) (Tax Cooperation). 
 1.35 “IND” means any
investigational new drug application, clinical trial application, clinical trial exemption or similar or equivalent application or submission for approval to conduct human clinical investigation filed with or submitted to a Regulatory Authority in
conformance with the requirements of such Regulatory Authority. 
 1.36 “Indemnified Party” has the meaning set forth
in Section 13.3 (Indemnification Procedure). 
 1.37 “Indemnifying Party” has the meaning set forth in
Section 13.3 (Indemnification Procedure). 
 1.38 “Indication” means a separate and distinct disease, disorder,
illness or health condition for which a separate MAA approval is required. 
 1.39 “Initial Proprietary Drug” means
any fixed-dose combination of Oxybutynin and Pilocarpine. 
 1.40 “Initiation” means, with respect to a clinical
trial, the first dosing (whether with investigational drug, comparator drug or placebo) of the first subject in such clinical trial. 

1.41 “Intended Action” has the meaning set forth in Section 1.1 (Active Pharmaceutical Ingredient). 

1.42 “Invention” shall mean any process, method, composition of matter, article of manufacture, discovery or finding,
patentable or otherwise, that is made, generated, conceived or otherwise invented as a result of a Party exercising its rights or carrying out its obligations under this Agreement, whether directly or via its Affiliates, agents or independent
contractors, including all rights, title and interest in and to the intellectual property rights therein. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

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	Confidential	  	EXECUTION VERSION

  

 1.43 “Joint Inventions” has the meaning set forth in
Section 9.1(a) (Ownership of Inventions). 
 1.44 “Joint Patents” has the meaning set forth in
Section 9.1(a) (Ownership of Inventions). 
 1.45 “Know-How” means any
information, including discoveries, improvements, modifications, processes, methods, techniques, protocols, formulas, data, inventions, know-how, trade secrets and results, patentable or otherwise, including
physical, chemical, biological, toxicological, pharmacological, safety, and pre-clinical and clinical data, dosage regimens, control assays, and product specifications, but excluding any Patents. 

1.46 “Licensed Know-How” means (a) all
Know-How that TheraVida Controls as of the Effective Date or during the Term that is necessary or reasonably useful for the Development, manufacture and/or Commercialization of any Proprietary Drug, and
(b) TheraVida’s Sole Inventions and TheraVida’s joint ownership interest in Joint Inventions. 
 1.47 “Licensed
Manufacturing Know-How” has the meaning set forth in Section 6.2(a) (Manufacturing Technology Transfer—subsection (a)). 

1.48 “Licensed Patents” means: (a) the Patents listed on Exhibit C; (b) all other Patents Controlled by
TheraVida as of the Effective Date or during the Term that (i) claim the composition of matter, or any method of manufacture or use, of any Proprietary Drug in the Field in the Territory or (ii) in the absence of a license or similar
right, would be infringed (assuming issuance thereof in the case of any patent application) by the manufacture, use, sale, offer for sale or import of any Proprietary Drug in the Field in the Territory; and (c) TheraVida’s joint ownership
interest in Joint Patents. For clarity, the Licensed Patents exclude any Patent Controlled by TheraVida as of the Effective Date or during the Term, the claims of which are limited to methods of using any Proprietary Drug or Muscarinic Modulator
solely outside of the Field. 
 1.49 “Licensed Product” means any pharmaceutical product that contains a Proprietary
Drug, alone or in combination with one or more Other Actives, in any dosage form or formulation, including THVD-102. 

1.50 “Licensed Technology” means the Licensed Know-How and Licensed Patents.

 1.51 “MAA” or “Marketing Authorization Application” means an application to the appropriate Regulatory
Authority for approval to market a Licensed Product (but excluding Pricing Approval) in any particular jurisdiction and all amendments and supplements thereto, including an NDA filed with the FDA in the U.S. 

1.52 “Major Markets” has the meaning set forth in Section 4.2 (Development Diligence). 

1.53 “Manufacturing Transfer Period” has the meaning set forth in Section 6.2(a) (Manufacturing Technology
Transfer—subsection (a)). 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

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	Confidential	  	EXECUTION VERSION

  

 1.54 “Muscarinic Modulator” means any Active Pharmaceutical
Ingredient that is a muscarinic antagonist or a muscarinic agonist; except, in each case, for any such Active Pharmaceutical Ingredient the activity of which as a muscarinic antagonist or a muscarinic agonist (as applicable) (a) is incidental
and (b) is not responsible (in whole or in part) for exerting the Intended Action of such Active Pharmaceutical Ingredient. By way of example and not of limitation, Oxybutynin and Pilocarpine are Muscarinic Modulators. 

1.55 “NDA” means a New Drug Application (as more fully defined in 21 C.F.R. §314.5 et seq. or successor
regulation) and all amendments and supplements thereto filed with the FDA. 
 1.56 “Net Sales” means, with respect to
any Licensed Product, the gross amounts invoiced for sales or other dispositions of such Licensed Product by or on behalf of Roivant, its Affiliates and Sublicensees (each, a “Selling Party”) to Third Parties (other than a Selling Party),
less the following deductions to the extent included in the gross amounts invoiced for such Licensed Product or otherwise actually paid or incurred by the Selling Party with respect to the sale or other disposition of such Licensed Product: 

(a) [***] 
 (b)
[***] 
 (c) [***] 

(d) [***] 
 (e)
[***] 
 (f) [***] 

(g) [***] 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

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	Confidential	  	EXECUTION VERSION

  

 [***] 

(h) [***] 
 Such amounts
shall be determined in accordance with GAAP, consistently applied. In no event shall any particular amount identified above be deducted more than once in calculating Net Sales (i.e., no “double counting” of deductions). 

The sale of any Licensed Product by a Selling Party to another Selling Party for resale by such Selling Party to a Third Party (other than a
Selling Party) shall not be deemed a sale for purposes of this definition of “Net Sales,” provided that the subsequent resale is included in the computation of Net Sales. Further, transfers or dispositions of Licensed
Products as free promotional samples in commercially reasonable amounts, consistent with prevailing industry standards, and Licensed Products provided at or below their manufacturing cost and used in research, development or regulatory activities,
compassionate use, indigent programs, investigator-initiated trials or on a named patient basis shall be disregarded in determining Net Sales. 

If any discounts or other deductions or rebates are made in connection with sales of a Licensed Product that is bundled or sold together with
other products of the Selling Parties, then the discount, deduction or rebate applied to the Licensed Product shall not exceed the discount, deduction or rebate applied to any of the other products of the Selling Parties in such arrangement based
upon the respective list prices of the Licensed Product and such other products prior to applying the discount. 
 On a country-by-country basis, if a Licensed Product is sold in a country as part of a Combination Product, Net Sales of such Licensed Product for the purpose of determining
royalties and commercial milestone payments due hereunder shall be calculated as follows: 
 (i) [***] 

(i) [***] 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

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	Confidential	  	EXECUTION VERSION

  

 (ii) [***] 

(iii) [***] 
 1.57
“Other Active” means any Active Pharmaceutical Ingredient that is not a Muscarinic Modulator. 
 1.58
“Oxybutynin” means the drug known by the generic name oxybutynin, having the chemical structure set forth in Exhibit B, and/or any pharmaceutically acceptable salt form, base form, pro-drug,
ester, ether, isomer, metabolite, crystalline polymorph, and hydrate or solvate thereof. 
 1.59 “Patent” means all
patents and patent applications, including all provisionals, substitutions, divisionals, reissues, reexaminations, renewals, continuations, continuations-in-part,
substitute applications, priority applications and inventors’ certificates, extensions and supplemental certificates and any and all foreign equivalents of the foregoing. 

1.60 “Person” means any individual, partnership, limited liability company, firm, corporation, association, trust,
unincorporated organization or other entity. 
 1.61 “Phase 2 Clinical Trial” means a human clinical trial that would
satisfy the requirements for a Phase 2 study as defined in 21 CFR § 312.21(b) (or any amended or successor regulations) or any equivalent regulations in other countries in the Territory, regardless of where such clinical trial is conducted.

 1.62 “Phase 3 Clinical Trial” means a human clinical trial that would satisfy the requirements for a Phase 3 study
as defined in 21 CFR § 312.21(c) (or any amended or successor regulations) or any equivalent regulations in other countries in the Territory, regardless of where such clinical trial is conducted. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

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	Confidential	  	EXECUTION VERSION

  

 1.63 “Pilocarpine” means the drug known by the generic name
pilocarpine, having the chemical structure set forth in Exhibit B, and/or any pharmaceutically acceptable salt form, base form, pro-drug, ester, ether, isomer, metabolite, crystalline polymorph, and hydrate or
solvate thereof. 
 1.64 “Pivotal Trial” means: (a) a Phase 3 Trial; or (b) any other human clinical trial
that the applicable Regulatory Authority has agreed, whether before first dosing of the first patient in such trial (e.g., pursuant to a special protocol assessment agreement with the FDA) or after first dosing of the first patient in such trial
(e.g., based on an interim data analysis), is sufficient to form the primary basis of an efficacy claim in an MAA submission, regardless of whether the sponsor of such trial characterizes or refers to such trial as a “Phase 3,” “Phase
2b” or “Phase 2b/3” trial (or otherwise) in the applicable protocol, on clinicaltrials.gov, or in any other context. If a human clinical trial does not constitute a Pivotal Trial at the time of first dosing of the first patient in
such trial, but is later determined by the applicable Regulatory Authority to be sufficient to form the primary basis of an efficacy claim in an MAA submission, then, for purposes of Section 8.2 (Regulatory Milestone Payments) hereof, and
notwithstanding Section 1.40 (Initiation) hereof, “Initiation” of such Pivotal Trial shall be deemed to have occurred on the date of such determination by the applicable Regulatory Authority. 

1.65 “PMDA” means Japan’s Pharmaceuticals and Medical Devices Agency or any successor entity thereto. 

1.66 “Pricing Approval” means such governmental approval, agreement, determination or decision establishing prices for
a Licensed Product that can be charged and/or reimbursed in a regulatory jurisdiction where the applicable Governmental Authorities approve or determine the price and/or reimbursement of pharmaceutical products and where such approval or
determination is necessary for the commercial sale of such Licensed Product in such jurisdiction. 
 1.67 “Product
Infringement” has the meaning set forth in Section 9.4(a) (Notice). 
 1.68 “Proprietary Drug” means
(a) the Initial Proprietary Drug and (b) any other product that comprises a fixed-dose combination of two or more Muscarinic Modulators (but does not comprise or contain any Other Active). 

1.69 “Receiving Party” has the meaning set forth in Section 10.1(a) (Duty of Confidence—subsection (a)). 

1.70 “Regulatory Approval” means all approvals, including Pricing Approvals and MAAs, that are necessary for the
commercial sale of a Licensed Product in a given country or regulatory jurisdiction. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

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 1.71 “Regulatory Authority” means any applicable Government Authority
responsible for granting Regulatory Approvals for Licensed Product, including the FDA, the EMA, the PMDA, and any corresponding national or regional regulatory authorities. 

1.72 “Regulatory Exclusivity” means any exclusive marketing rights or data exclusivity rights conferred by any
Regulatory Authority with respect to a pharmaceutical product other than Patents, including orphan drug exclusivity, new chemical entity exclusivity, data exclusivity, or pediatric exclusivity. 

1.73 “Regulatory Filings” means, with respect to a Proprietary Drug or Licensed Products, any submission to a
Regulatory Authority of any appropriate regulatory application specific to the Proprietary Drug or Licensed Products, and shall include, without limitation, any submission to a regulatory advisory board and any supplement or amendment thereto. For
the avoidance of doubt, Regulatory Filings shall include any IND, NDA, MAA, Regulatory Approval or the corresponding application in any other country or jurisdiction. 

1.74 “Roivant Know-How” means all
Know-How that Roivant Controls as of the Effective Date or during the Term that is necessary or reasonably useful for the Development, manufacture or Commercialization of any Proprietary Drug or Licensed
Product in the Field, including Roivant’s Sole Inventions and Roivant’s joint ownership interest in Joint Inventions. 

1.75 “Roivant Indemnitees” has the meaning set forth in Section 13.1 (Indemnification by TheraVida). 

1.76 “Roivant Patents” means all Patents that Roivant Controls as of the Effective Date or during the Term that are
necessary or reasonably useful for the Development, manufacture or Commercialization of any Proprietary Drug or Licensed Product in the Field. For clarity, Roivant Patents include Roivant’s joint ownership interest in Joint Patents. 

1.77 “Roivant Technology” means the Roivant Know-How and the Roivant Patents.

 1.78 “Royalty Term” has the meaning set forth in Section 8.4(b) (Royalty Term). 

1.79 “SEC” has the meaning set forth in Section 10.5(a) (Publicity/Use of Names—subsection (a)). 

1.80 “Selling Party” has the meaning set forth in Section 1.56 (Net Sales). 

1.81 “Sole Inventions” has the meaning set forth in Section 9.1(a) (Ownership of Inventions). 

1.82 “Sublicense” means a license or sublicense to Develop, make, use, import, promote, offer for sale or sell any
Proprietary Drug or Licensed Product. 
 1.83 “Sublicensee” means a Third Party to whom Roivant or its Affiliate has
granted a Sublicense in accordance with the terms of this Agreement. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

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 1.84 “Sublicensee Revenue” means all amounts received by Roivant and
its Affiliates from any Sublicensee in consideration of the grant to such Sublicensee of a Sublicense. Without limiting the generality of the foregoing, Sublicensee Revenue shall include up-front fees, license
fees, milestone payments (except as expressly specified below), technology access fees, premiums above the fair market value on sales of debt or equity securities of Roivant or its Affiliate, and annual agreement maintenance fees, and any other
payments attributable to the grant to such Sublicensee of a Sublicense; provided, however, that [***]. Notwithstanding the foregoing, Sublicensee Revenue shall exclude: (i) royalties and commercial milestone payments paid or
payable by any Sublicensee to Roivant or its Affiliates with respect to a Sublicensee’s sales or other dispositions of Proprietary Drugs or Licensed Products; (ii) bona fide research and development funding (e.g., FTE
funding) received from a Sublicensee for Roivant’s or its Affiliate’s employees’ performance of specified research and development work with respect to any Proprietary Drug or Licensed Product after the date of the Sublicense, which
may be calculated on a fully-burdened basis, and reimbursement by such Sublicensee of documented external costs incurred by Roivant or its Affiliate after the date of the Sublicense for specialized materials (except for standard materials costs
included in Roivant’s or its Affiliate’s fully-burdened FTE rate), specialized equipment and Third Party services, in each case, specifically for such specified research and development work with respect to any Proprietary Drug or Licensed
Product; (iii) payments for equity securities of Roivant or its Affiliate [***], as determined in good faith by Roivant’s or its Affiliate’s Board of Directors, if such securities are not then traded on a public securities exchange,
or as determined by the closing price of such securities of Roivant or its Affiliate (as applicable) on the date of receipt, if such securities are then traded on a public securities exchange; (iv) payments for debt securities of Roivant or its
Affiliate [***] in full (whether in cash or in kind); and (v) payments and reimbursements by any Sublicensee of patent costs actually incurred by Roivant or its Affiliate after the date of the Sublicense. 

1.85 “Tax” or “Taxes” means any (a) all federal, provincial, territorial, state, municipal,
local, foreign or other taxes, imposts, rates, levies, assessments and other charges in the nature of a tax (and all interest and penalties thereon and additions thereto imposed by any governmental authority), including without limitation all
income, excise, franchise, gains, capital, real property, goods and services, transfer, value added, gross receipts, windfall profits, severance, ad valorem, personal property, production, sales, use, license, stamp, documentary stamp, mortgage
recording, employment, payroll, social security, unemployment, disability, escheat, estimated or withholding taxes, and all customs and import duties, together with all interest, penalties and additions thereto imposed with respect to such amounts,
in each case whether disputed or not; (b) any liability for the payment of any amounts of the type described in clause (a) as a result of being or having been a member of an affiliated, consolidated, combined 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

12 

			
	Confidential	  	EXECUTION VERSION

  

 or unitary group; and (c) any liability for the payment of any amounts as a result of
being party to any tax sharing agreement or arrangement or as a result of any express or implied obligation to indemnify any other person with respect to the payment of any amounts of the type described in clause (a) or (b). 

1.86 ”Term” has the meaning set forth in Section 11.1 (Term). 

1.87 “Territory” means worldwide, excluding the Republic of Korea and the Democratic People’s Republic of Korea.

 1.88 “TheraVida CMOs” has the meaning set forth in Section 6.2(b) (Manufacturing Technology
Transfer—subsection (b)). 
 1.89 “TheraVida Indemnitees” has the meaning set forth in Section 13.2
(Indemnification by Roivant). 
 1.90 “Third Party” means any Person other than a Party or an Affiliate of a Party.

 1.91 “Third Party Licenses” has the meaning set forth in Section 8.5(a) (Royalty Adjustments for Third Party
Royalties). 
 1.92 “THVD-102” means TheraVida’s proprietary fixed-dose
combination of Oxybutynin and Pilocarpine known as THVD-102, in the form and formulation described in Exhibit A hereto. 

1.93 “Transfer Plan” has the meaning set forth in Section 2.4 (Initial Transfer of
Know-How and Materials). 
 1.94 “Transfer Tax” has the meaning set forth in
Section 8.9(c) (Transfer Tax). 
 1.95 “United States” or “U.S.” means the United States of America
including its territories and possessions. 
 1.96 “Valid Claim” means, with respect to any country, a claim
contained in (a) an issued and unexpired patent (as may be extended through supplementary protection certificate or patent term extension or the like) which has not been held unenforceable, unpatentable or invalid by a decision of a court or
other governmental agency of competent jurisdiction, unappealable or unappealed within the time allowed for appeal, and which has not been admitted to be invalid or unenforceable through abandonment, reissue, disclaimer or otherwise, or (b) a
patent application that has not been irretrievably cancelled, withdrawn or abandoned and that has been pending for less than (i) [***] from the filing date from which such claim takes priority in the case of a U.S. patent application or (ii) [***]
from the filing date from which such claim takes priority in the case of any non-U.S. patent application. If a claim of a patent application that ceased to be a Valid Claim under clause (b) of the
preceding sentence because of the passage of time later issues as a part of a patent within clause (a) of the preceding sentence, then it shall again be considered a Valid Claim effective as of the issuance of such patent. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

13 

			
	Confidential	  	EXECUTION VERSION

  

 1.97 Interpretation. In this Agreement, unless otherwise specified: 

(a) “includes” and “including” shall mean, respectively, includes without limitation and including without
limitation; 
 (b) words denoting the singular shall include the plural and vice versa and words denoting any gender shall include all
genders; 
 (c) words such as “herein”, “hereof”, and “hereunder” refer to this Agreement as a whole and
not merely to the particular provision in which such words appear; and 
 (d) the Exhibits and other attachments form part of the
operative provision of this Agreement and references to this Agreement shall include references to the Exhibits and attachments. 

ARTICLE 2 
 LICENSE

 2.1 Licenses to Roivant. Subject to the terms and conditions of this Agreement, TheraVida hereby grants to Roivant an
exclusive (even as to TheraVida, except as expressly set forth herein), royalty-bearing license, with the right to grant sublicenses including through multiple tiers in accordance with Section 2.2 (Sublicense Rights), under the Licensed
Technology to research, Develop, make, have made, use, distribute, sell, offer for sale, have sold, import, export and otherwise Commercialize Proprietary Drugs and Licensed Products, in each case, in the Field in the Territory. 

2.2 Sublicense Rights. Subject to the terms of this Section 2.2 (Sublicense Rights), Roivant may grant a sublicense of the
licenses granted in Section 2.1 (Licenses to Roivant) through multiple tiers to an Affiliate of Roivant or any Third Party without the prior written authorization of TheraVida. Each authorized sublicense granted hereunder, if any, whether to an
Affiliate or Sublicensee, shall (a) be in writing, (b) be subject and subordinate in all respects to, and consistent with, all terms of this Agreement and (c) incorporate terms and conditions sufficient to enable Roivant to comply
with this Agreement. Roivant shall provide TheraVida with a copy of any sublicense agreement entered into by Roivant or its Affiliate, and any amendment thereto, within [***] of its execution (provided that Roivant may redact from such copy any
confidential information contained therein that is not necessary to ascertain compliance with this Agreement). Roivant shall be liable for the failure of its Affiliates and Sublicensees to comply with this Agreement and shall, [***], enforce
compliance by Affiliates and Sublicensees with the terms of their respective sublicense agreements. 
 2.3 TheraVida’s
Retained Rights. TheraVida retains the right under the Licensed Technology to exercise its rights and perform its obligations under this Agreement. In addition, but subject to Section 2.6 (Exclusivity), TheraVida retains, and hereby
expressly reserves, the exclusive right to practice, and to grant licenses under, the Licensed Technology for any and all purposes other than the specific purposes for which the Licensed Technology is exclusively licensed to Roivant under
Section 2.1 (Licenses to Roivant). 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

14 

			
	Confidential	  	EXECUTION VERSION

  

 2.4 Initial Transfer of Know-How and
Materials. As promptly as practicable (and in any event within [***]) after the Effective Date, the Parties shall agree on a plan for the transfer of Licensed Know-How (including the data therein) and
certain tangible materials Controlled by TheraVida as of the Effective Date to Roivant (the “Transfer Plan”). As soon as practical after mutual agreement on the Transfer Plan, TheraVida shall commence disclosing and making available
to Roivant the Licensed Know-How and materials listed in the Transfer Plan, according to the timeline set forth in the Transfer Plan, and will complete such transfer no later than [***] after the Parties
mutually agree on the Transfer Plan. The Parties shall cooperate with each other in good faith to enable a smooth transfer of the Licensed Know-How to Roivant. [***], TheraVida shall provide reasonable
technical assistance, including making appropriate existing personnel available to Roivant at reasonable times, places and frequency, and [***], for the purpose of assisting Roivant to understand and use the Licensed
Know-How in connection with Roivant’s Development of Licensed Products. For clarity, TheraVida makes no representation or warranty, and does not covenant, that any such assistance provided by TheraVida
will enable Roivant to Develop Licensed Products, and TheraVida shall have no obligation to obtain or generate any Know-How that is not within TheraVida’s possession and Control as of the Effective Date.
If, during the Term and as a result of discussions between the Parties via the JDC (or otherwise), either: (a) TheraVida becomes aware of Licensed Know-How that was Controlled by TheraVida as of the
Effective Date but, despite TheraVida’s good faith efforts to identify and include in the Transfer Plan all Licensed Know-How existing on the Effective Date, was not identified and included in the
Transfer Plan and disclosed and made available to Roivant; or (b) one or both Parties become aware of Licensed Know-How that first came within the Control of TheraVida after the Effective Date and was
therefore not included in the Transfer Plan and transferred to Roivant pursuant thereto; then, in each case ((a) and (b)), TheraVida shall promptly disclose and make available such Licensed Know-How to Roivant
and shall provide reasonable technical assistance, including making appropriate then-current personnel available to Roivant at reasonable times, places and frequency, and upon reasonable prior notice, for the purpose of assisting Roivant to
understand and use such Licensed Know-How in connection with Roivant’s Development of Licensed Products; provided that [***]. 

2.5 No Implied Licenses; Negative Covenant. Except as set forth herein, neither Party shall acquire any license or other
intellectual property interest, by implication or otherwise, under any Know-How, Patents, trademarks or other intellectual property rights owned or controlled by the other Party. Roivant hereby covenants not
to practice, and not to permit or cause any of its Affiliate or any Third Party to practice, any Licensed Technology for any purpose other than as expressly authorized in this Agreement. Without limiting the generality of the foregoing, Roivant
shall not, directly or indirectly: (a) practice Licensed Technology to Develop, make, have made, use, distribute, sell, offer for sale, have sold, import, export and otherwise Commercialize any Proprietary Drug or Licensed Product for use
(i) outside of the Field or (ii) outside of the Territory; or (b) permit or cause any of its Affiliates or any Third Party to engage in any of the activities described in the preceding clause (a). 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

15 

			
	Confidential	  	EXECUTION VERSION

  

 2.6 Exclusivity. During the Term of this Agreement, TheraVida shall not
conduct, itself or through an Affiliate or Third Party, and shall not enable a Third Party to conduct, any clinical development, promotion or commercialization of any product: (a) comprising a Muscarinic Modulator or a combination of two or
more Muscarinic Modulators or (b) for the [***]. 
 ARTICLE 3 

GOVERNANCE 
 3.1
Joint Development Committee. Within [***] after the Effective Date, the Parties shall establish a joint development committee (the “Joint Development Committee” or the “JDC”), composed of one
(1) representative of each Party, to guide the collaboration of the Parties under this Agreement and to oversee the exchange of information between the Parties with respect to the Development of Proprietary Drugs and Licensed Products until the
end of the first Phase 3 Clinical Trial for any Licensed Product. Each JDC representative shall have appropriate knowledge and expertise and sufficient seniority within the applicable Party to make decisions arising within the scope of the
JDC’s responsibilities. The JDC shall in particular: 
 (a) provide a forum for the discussion of the Development of Proprietary
Drugs and Licensed Products until the end of the first Phase 3 Clinical Trial for any Licensed Product; 
 (b) oversee the transfer of
Licensed Know-How and materials to Roivant under Section 2.4 (Initial Transfer of Know-How and Materials); and 

(c) provide a forum for Roivant to keep TheraVida reasonably informed regarding the Development of Licensed Products including the
status of any Regulatory Filings, Regulatory approvals, or clinical trials. 
 The JDC shall have only such powers as are expressly assigned to it in this
Agreement, and such powers shall be subject to the terms and conditions of this Agreement. For clarity, the JDC shall primarily be advisory and provide a forum for information exchange, with Roivant having ultimate decision making authority to the
extent any decisions must be made by the JDC; provided, however, that neither the JDC, nor Roivant in the exercise of its ultimate decision making authority, shall have any right, power or authority: (i) to determine any issue in a manner that
would conflict with the express terms and conditions of this Agreement; or (ii) to modify or amend the terms and conditions of this Agreement. Upon the first approval by the FDA of an NDA for any Licensed Product or the first approval by the
EMA of an MAA for any Licensed Product (whichever occurs first), the JDC will cease to exist and the Parties will no longer have any obligations with respect to the JDC. 

3.2 JDC Membership and Meetings. 

(a) Members. TheraVida’s initial JDC representative will be [***], TheraVida, Inc. and Roivant’s initial JDC
representative will be [***], Dermavant Sciences, Inc. Each Party may replace its JDC representative on written notice to the other 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

16 

			
	Confidential	  	EXECUTION VERSION

  

 
Party, but each Party shall strive to maintain continuity. The JDC members shall jointly prepare an agenda and shall direct the preparation of reasonably detailed minutes for each JDC meeting,
which shall be approved and circulated within [***] of such meeting. 
 (b) Meetings. The JDC shall hold meetings at such times
as it elects to do so, but in no event shall such meetings be held less frequently than once every [***]. Meetings may be held in person, or by audio or video teleconference; provided, that unless otherwise agreed by both Parties, at least one
(1) meeting per year shall be held in person, and all in-person JDC meetings shall be held at locations alternately selected by the Parties. Each Party shall be responsible for all of its own expenses of
participating in JDC meetings. 
 (c) Non-Member Attendance. Each Party may from time
to time invite a reasonable number of participants, in addition to its representative, to attend JDC meetings in a non-voting capacity; provided, that if either Party intends to have any Third Party (including
any consultant) attend such a meeting, such Party shall provide at least [***] prior written notice to the other Party and obtain the other Party’s approval for such Third Party to attend such meeting, which approval shall not be unreasonably
withheld or delayed. Such Party shall ensure that such Third Party is bound by confidentiality and non-use obligations consistent with the terms of this Agreement. 

ARTICLE 4 
 DEVELOPMENT

 4.1 General. Subject to the terms and conditions of this Agreement, Roivant shall be solely responsible for the
Development of Proprietary Drugs and Licensed Products in the Field in the Territory, including the performance of preclinical and clinical studies of any Proprietary Drug or Licensed Product in the Field and the manufacture and supply of
Proprietary Drugs and Licensed Products for use in such Development work. Roivant shall provide TheraVida with [***], both via the JDC and in accordance with Section 4.5 (Development Reports), of its
pre-clinical and clinical Development plans, progress and results for Proprietary Drugs and Licensed Products. 

4.2 Development Diligence. Roivant, directly and/or with or through Affiliates or Sublicensees, shall use Commercially Reasonable
Efforts to Develop, and to obtain Regulatory Approval with respect to, at least one Proprietary Drug and Licensed Product in the Field in [***]. For clarity, such Commercially Reasonable Efforts shall be determined on a country-by-country basis [***]and it is anticipated that the level of efforts constituting Commercially Reasonable Efforts in one country [***] may differ from the level of
efforts constituting Commercially Reasonable Efforts in another country [***]. Without limiting the generality of the foregoing, the Parties acknowledge that Roivant may prioritize the Development of a Licensed Product in one or more countries [***]
over the Development of a Licensed Product in another country [***] and that the timing of Development may differ in each country [***], and the Parties agree that such prioritization and timing of Development shall not, by themselves, cause
Roivant’s Development efforts in any such country not to constitute Commercially Reasonable Efforts. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

17 

			
	Confidential	  	EXECUTION VERSION

  

 4.3 Development Costs. As between the Parties, Roivant shall be solely
responsible for the cost for the Development of Proprietary Drugs and Licensed Products in the Field in the Territory. 
 4.4
Development Records. Roivant shall use Commercially Reasonable Efforts to maintain reasonably complete, current and accurate records of all Development activities conducted by or on behalf of Roivant, its Affiliates and Sublicensees for any
Proprietary Drug and Licensed Product in the Field, and all data and other information resulting from such activities. Such records shall properly reflect all work done and results achieved in the performance of the Development activities in good
scientific manner appropriate for regulatory and patent purposes. 
 4.5 Development Reports. Roivant shall keep TheraVida
reasonably informed as to the progress and results of its and its Affiliates’ and Sublicensees’ Development and regulatory activities under this Agreement. Without limiting the foregoing, on [***] of each year beginning on [***], Roivant
shall provide TheraVida with a written report summarizing material Development and regulatory activities performed in the preceding Calendar Year and the results thereof, and the Development and regulatory activities planned for the current Calendar
Year. Roivant shall promptly respond to TheraVida’s reasonable questions or requests for additional information relating to the progress and results of its and its Affiliates’ and Sublicensees’ Development and regulatory activities
under this Agreement. In addition, [***], Roivant and TheraVida will meet to discuss the status of the Development and regulatory activities within a reasonable time [***]. Such meeting may occur either in person, telephonically, or by video
conference at TheraVida’s discretion. 
 4.6 Compliance. Roivant agrees that in performing its obligations under this
Agreement: (a) it shall comply with all Applicable Laws; and (b) it will not employ or engage any Person who has been debarred or disqualified by any Regulatory Authority, or, to its knowledge, is the subject of debarment or
disqualification proceedings by a Regulatory Authority. 
 4.7 Subcontractor. Roivant shall have the right to engage
subcontractors for the performance of its obligations under the Agreement, and shall cause the subcontractor(s) engaged by it to be bound by written obligations of confidentiality and non-use of
TheraVida’s Confidential Information and invention assignment consistent with those contained herein, and Roivant shall remain primarily responsible for the performance of such subcontractor(s). 

ARTICLE 5 
 REGULATORY

 5.1 Regulatory Responsibilities. Roivant shall be responsible for all regulatory activities necessary to obtain and
maintain Regulatory Approval of Proprietary Drugs and Licensed Products in the Field in the Territory. Roivant shall keep TheraVida informed of regulatory developments related to Proprietary Drugs and Licensed Products in the Field in the Territory
both via the JDC and Roivant’s reports pursuant to Section 4.5 (Development Reports). 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

18 

			
	Confidential	  	EXECUTION VERSION

  

 5.2 Regulatory Filings. Roivant shall prepare and submit all Regulatory Filings
for Proprietary Drugs and Licensed Products in the Field in the Territory and shall own all Regulatory Filings and Regulatory Approvals for Proprietary Drugs and Licensed Products in the Field in the Territory. 

5.3 Adverse Events. With respect to adverse experiences associated with the Licensed Product in the Field in the Territory, after
the Effective Date, Roivant shall be solely responsible for the collection, review, assessment, tracking and regulatory submission of the adverse experiences in the Territory, in accordance with the Applicable Laws governing adverse experiences in
the Territory. 
 5.4 Legacy Safety Data. As soon as possible after the Effective Date, TheraVida shall provide Roivant with an
electronic copy of the CIOMS I forms of all legacy data of adverse events within TheraVida’s safety database with respect to the Licensed Product that is within TheraVida’s possession, for inclusion in Roivant’s safety database for
the Licensed Product; provided, that TheraVida shall promptly provide Roivant with any CIOMS I received or generated by TheraVida referencing the Licensed Product following the Effective Date. 

5.5 Global Safety Database. [***] after the Effective Date, or sooner if agreed between the Parties, TheraVida shall transfer the
global safety database for Licensed Product to Roivant and, thereafter, Roivant will maintain the global safety database pursuant to its own policy and as necessary to comply with Applicable Laws governing adverse experiences in the Territory. 

ARTICLE 6 
 MANUFACTURING

 6.1 Manufacturing Responsibilities. Roivant shall be solely responsible for all preclinical, clinical and commercial
manufacture and supply of Proprietary Drugs and Licensed Products for all uses under this Agreement, at its sole expense. Roivant may conduct such manufacturing activities itself or through a Third Party CMO, subject to Section 4.7
(Subcontractor). 
 6.2 Manufacturing Technology Transfer. In order to enable Roivant to manufacture Proprietary Drugs and
Licensed Products, TheraVida shall perform or facilitate technology transfer to Roivant as set forth below: 
 (a) During a mutually
agreed time period of no more than [***] (the “Manufacturing Transfer Period”), TheraVida shall make available and transfer to Roivant, copies of existing embodiments of the Licensed Know-How
in TheraVida’s possession that are necessary or useful in the manufacture of Proprietary Drugs and Licensed Products and as of such date are being used by TheraVida to manufacture Proprietary Drugs and Licensed Products (the “Licensed
Manufacturing Know-How”) solely for Roivant and/or its contract manufacturer to manufacture or have manufactured Proprietary Drugs and Licensed Products in accordance with the terms and conditions of
this Agreement. To the extent that any Licensed Manufacturing Know-How is in the Control of TheraVida but is in the possession of a Third Party CMO of TheraVida (and is not in TheraVida’s possession),
Section 6.2(b) shall apply. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

19 

			
	Confidential	  	EXECUTION VERSION

  

 (b) During the Manufacturing Transfer Period, [***], TheraVida will provide
(i) introductions to TheraVida’s Third Party CMOs (“TheraVida CMOs”) for Proprietary Drugs and Licensed Products and (ii) written authorization and instructions to any such TheraVida CMO in possession of Licensed
Manufacturing Know-How to make such Licensed Manufacturing Know-How available to Roivant and its Affiliates [***] (it being understood that if Roivant wishes to have a
TheraVida CMO perform technology transfer to Roivant or its designee with respect to Licensed Manufacturing Know-How other than providing copies of existing embodiments of Licensed Manufacturing Know-How in the Control of TheraVida but in the possession of the TheraVida CMO, [***]). Roivant, in its sole discretion [***], may contract with any such TheraVida CMO for technical assistance (both on site and
otherwise) in the transfer and demonstration of the Licensed Manufacturing Know-How that is necessary to manufacture Proprietary Drugs and Licensed Products. After the Manufacturing Transfer Period, if
requested by Roivant, TheraVida will in good faith endeavor to provide additional technical assistance in the transfer of Licensed Manufacturing Know-How to Roivant. 

ARTICLE 7 

COMMERCIALIZATION 

7.1 General. Subject to the terms and conditions of this Agreement, Roivant shall be responsible for all aspects of the
Commercialization of the Licensed Products in the Field in the Territory, including: (a) developing and executing a commercial launch and pre-launch plan, (b) negotiating with applicable governmental
authorities regarding the price and reimbursement status of the Licensed Products and obtaining and maintaining Pricing Approvals; (c) marketing and promotion; (d) booking sales and distribution and performance of related services;
(e) handling all aspects of order processing, invoicing and collection, inventory and receivables; (f) providing customer support, including handling medical queries, and performing other related functions; and (g) conforming its
practices and procedures to Applicable Law relating to the marketing, detailing and promotion of Licensed Products in the Field in the Territory. As between the Parties, Roivant shall be solely responsible for the costs and expenses of
Commercialization of the Licensed Products in the Field in the Territory. 
 7.2 Commercial Diligence. Roivant, directly and/or
with or through Affiliates or Sublicensees, shall use Commercially Reasonable Efforts to Commercialize Licensed Products in the Field in each country in the Territory in which it receives Regulatory Approval. 

7.3 Commercialization Reports. Roivant shall keep TheraVida reasonably informed of Roivant’s, its Affiliates’ and
Sublicensees’ Commercialization activities with respect to the Licensed Products in the Field in the Territory. Without limiting the foregoing, on [***] of each Calendar Year, beginning in the Calendar Year of Roivant’s first submission of
an MAA for a Licensed Product in the Territory, Roivant shall provide TheraVida with a written report summarizing material Commercialization activities with respect to the Licensed 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

20 

			
	Confidential	  	EXECUTION VERSION

  

 Products in the Field in the Territory performed in the preceding Calendar Year and Commercialization
activities with respect to the Licensed Products in the Field in the Territory planned for the current Calendar Year. Roivant shall promptly respond to TheraVida’s reasonable questions or requests for additional information relating to the
progress and results of its and its Affiliates’ and Sublicensees’ Commercialization activities under this Agreement. In addition, [***], Roivant and TheraVida will hold a meeting to discuss the status of the Commercialization activities
within a reasonable time [***]. Such meeting may occur either in person, telephonically, or by video conference at the Parties’ discretion. 

ARTICLE 8 
 FINANCIAL
PROVISIONS 
 8.1 Upfront Payment. Within ten (10) Business Days after the Effective Date, Roivant shall pay to
TheraVida a one-time, non-refundable and non-creditable upfront payment of two million Dollars ($2,000,000). 

8.2 Regulatory Milestone Payments. Within [***] after the first achievement of each milestone event below by or on behalf of
Roivant or any of its Affiliates or Sublicensees, Roivant shall notify TheraVida of the achievement of such milestone event and TheraVida shall invoice Roivant for the applicable non-refundable, non-creditable milestone payment corresponding to such milestone event as shown below. Roivant shall remit payment to TheraVida within [***] of the receipt of such invoice. 

 

			
	 Regulatory Milestone Events
	  	Milestone Payments (in
U.S. Dollars)
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

21 

			
	Confidential	  	EXECUTION VERSION

  

 8.3 Commercial Milestones. 

(a) Within [***] after the end of the Calendar Quarter in which Aggregate Annual Net Sales of all Licensed Products in the Territory in
a Calendar Year first reach any threshold indicated in the milestone events listed below, Roivant shall notify TheraVida of the achievement of such milestone event and TheraVida shall invoice Roivant for the corresponding non-refundable, non-creditable milestone payment set forth below. Roivant shall remit payment to TheraVida within [***] of the receipt of such invoice. 

 

			
	 Annual Net Sales Milestone Events
	  	Milestone Payments
(in U.S. Dollars)
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]

 (b) For purposes of determining whether a Net Sales milestone event has been achieved, Net Sales of all
Licensed Products in the Territory shall be aggregated. For clarity, each of the annual Net Sales milestone payments set forth in Section 8.3(a) (Commercial Milestones—subsection (a)) shall be payable only once for all Licensed Products,
upon the first achievement of the applicable milestone event. 
 (c) If a Milestone Event in Section 8.3(a) (Commercial
Milestones—subsection(a)) is achieved and payment with respect to any previous milestone event has not been made, then such previous milestone event shall be deemed achieved, TheraVida shall invoice Roivant for such unpaid previous milestone
event(s) and Roivant shall pay TheraVida such unpaid previous milestone payment(s) within [***] of receipt of such invoice. If more than one Milestone Event in Section 8.3(a) (Commercial Milestones—subsection(a)) is achieved in a Calendar
Year, then the corresponding milestone payment for each such achievement shall be due and owing with respect to such Calendar Year. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

22 

			
	Confidential	  	EXECUTION VERSION

  

 8.4 Royalty Payments. 

(a) Royalty Rate. Roivant shall pay to TheraVida non-refundable, non-creditable royalties on aggregate annual Net Sales of all Licensed Products in the Territory in each Calendar Year (“Aggregate Annual Net Sales”) at the applicable rate(s) set forth below, with
such royalties to be calculated by multiplying the applicable incremental amount of Aggregate Annual Net Sales in such Calendar Year by the corresponding royalty rate set forth in the table below: 

 

			
	 Aggregate Annual

Net Sales of the Licensed Products
	  	Royalty Rate
	 [***]
	  	[***]
	 [***]
	  	[***]

 (b) Royalty Term. Royalties under this Section 8.4 (Royalty Payments) shall be payable on a country-by-country and Licensed Product-by-Licensed Product basis from the First Commercial
Sale of a Licensed Product in a country until the latest of: (i) expiration of the last-to-expire Valid Claim of the Licensed Patents that would, but for the
licenses granted hereunder, be infringed by the manufacture, use or sale of such Licensed Product (or the Proprietary Drug contained therein) in such country in the Territory; (ii) expiration of Regulatory Exclusivity for such Licensed Product
in such country; and (iii) the tenth (10th) anniversary of the First Commercial Sale of such Licensed Product in such country (the “Royalty Term” for such Licensed Product and country). 

(c) Royalty Reports and Payment. Within [***] after each Calendar Quarter, commencing with the Calendar Quarter during which the
First Commercial Sale of any Licensed Product is made anywhere in the Territory, Roivant shall provide TheraVida with a report that contains the following information for the applicable Calendar Quarter, on a Licensed
Product-by-Licensed Product and country-by-country basis: (i) gross sales and Net
Sales in the Territory; (ii) itemized deductions from gross sales (by each subsection set forth in the definition of Net Sales); (iii) a calculation of the royalty payment due on Net Sales in the Territory, including details of any royalty
adjustments made pursuant to Section 8.5(a) (Royalty Adjustment for Third Party Royalties) on a Third Party License-by-Third Party License basis and any other
royalty adjustments made pursuant to Section 8.5 (Royalty Adjustments); (iv) Sublicensee Revenue received on a Sublicensee-by-Sublicensee basis and amounts due
thereon pursuant to Section 8.6 (Sublicensing Revenue); and (v) the exchange rates used. Concurrent with the delivery of such report, Roivant will pay TheraVida all royalties owed with respect to Net Sales and all amounts due with respect
to Sublicensee Revenue for such Calendar Quarter. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

23 

			
	Confidential	  	EXECUTION VERSION

  

 8.5 Royalty Adjustments. Except as otherwise set forth in this Agreement,
royalties due hereunder are subject to adjustment as set forth below (such adjustments to be prorated for the Calendar Quarter in which the adjustment becomes applicable). 

(a) Royalty Adjustment for Third Party Royalties. If Roivant or any of its Affiliates or Sublicensees determines, in its
reasonable judgment, that it is necessary or reasonably useful to obtain one or more licenses under Patents of Third Parties in order to manufacture, use or sell a Proprietary Drug in a country (hereinafter “Third Party Licenses”),
[***] of the royalties with respect to sales of Licensed Products containing such Proprietary Drug (or commercial milestone payments specifically and solely attributable to sales of Licensed Products containing such Proprietary Drug) actually paid
under such Third Party Licenses by Roivant or its Affiliate or Sublicensee in such country in a Calendar Quarter will be creditable against the royalty payments owed by Roivant to TheraVida with respect to Net Sales of such Licensed Product in such
country pursuant to Section 8.4(a) (Royalty Rate) for such Calendar Quarter; provided, however, that in no event will the royalties owed by Roivant to TheraVida pursuant to Section 8.4(a) (Royalty Rate) with respect to Net Sales of
such Licensed Product in such country for such Calendar Quarter be reduced by more than [***] as a result of any and all such credits in the aggregate; and provided, further, that Roivant will not be entitled to credit any portion of
royalties or commercial milestone payments paid by Roivant or its Affiliate or Sublicensee to Third Parties with respect to Patents claiming or covering any Other Active. 

(b) Royalty Adjustment for No Valid Claim. During any portion of the Royalty Term for a Licensed Product in a country when no
Valid Claim of the Licensed Patents would be infringed (or, in the case of a Valid Claim in a pending patent application, would be infringed if issued) by the manufacture, use, sale, offer for sale or import of such Licensed Product or the
Proprietary Drug contained therein in such country, but there is Regulatory Exclusivity for such Licensed Product in such country, the royalties payable under Section 8.4(a) (Royalty Rate) with respect to Net Sales of such Licensed Product in
such country shall be reduced by [***]. During any portion of the Royalty Term for a Licensed Product in a country when (A) no Valid Claim of the Licensed Patents would be infringed (or, in the case of a Valid Claim in a pending patent
application, would be infringed if issued) by the manufacture, use, sale, offer for sale or import of such Licensed Product or the Proprietary Drug contained therein in such country, and (B) there is no Regulatory Exclusivity for such Licensed
Product in such country, the royalties payable under Section 8.4(a) (Royalty Rate) with respect to Net Sales of such Licensed Product in such country shall be reduced by [***] 

(c) Royalty Adjustment for Generic Competition. If there is Generic Competition for a particular Licensed Product in a particular
country in a particular Calendar Quarter, the royalties payable to TheraVida on Net Sales of such Licensed Product in such country in such Calendar Quarter shall be reduced by [***] 

(d) Royalty Floor. In no event shall the effective royalty rate applicable to Net Sales of a Licensed Product in a country in a
Calendar Quarter be reduced to [***] of Net Sales of such Licensed Product in such country in such Calendar Quarter as a result of any and all adjustments made pursuant to Section 8.5(a) (Royalty Adjustment for Third Party Royalties),
Section 8.5(b) (Royalty Adjustment for No Valid Claim) and Section 8.5(c) (Royalty Adjustment for Generic Competition) in the aggregate. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

24 

			
	Confidential	  	EXECUTION VERSION

  

 8.6 Sublicensing Revenue. If Roivant or its Affiliate grants a Sublicense to a
Sublicensee [***] of any Licensed Product, Roivant shall pay to TheraVida [***] of all Sublicensee Revenue received from such Sublicensee. If Roivant grants a Sublicense to a Sublicensee [***] for any Licensed Product, Roivant shall pay to TheraVida
[***] of all Sublicensee Revenue received from such Sublicensee. Within [***] after receipt of any Sublicensee Revenue subject to this Section 8.6 (Sublicensing Revenue), Roivant shall notify TheraVida of the receipt of such Sublicensee Revenue
and the amount due to TheraVida and TheraVida shall invoice Roivant for the corresponding amount. Roivant shall remit payment to TheraVida within [***] of the receipt of such invoice. 

8.7 Currency; Exchange Rate. All payments to be made by Roivant to TheraVida under this Agreement shall be made in Dollars by
bank wire transfer in immediately available funds to a bank account designated by written notice from TheraVida. If any currency conversion shall be required in connection with any payment hereunder, such conversion shall be made by using the
exchange rates at the closing on the last Business Day of the Calendar Quarter to which such payment relates as reported in The Wall Street Journal on the following day. 

8.8 Late Payments. Late payments shall be subject to an interest charge of [***] per month, or maximum rate permitted by law,
whichever is lower. The payment of such interest shall not limit TheraVida from exercising any other rights it may have as a consequence of the lateness of any payment. 

8.9 Taxes. 

(a) Taxes on Income. Except as otherwise set forth in this Section 8.9 (Taxes), each Party shall be solely responsible for
the payment of all Taxes imposed on such Party’s income arising directly or indirectly from the activities of the Parties under this Agreement. 

(b) Tax Cooperation. The Parties agree to use commercially reasonable efforts to cooperate with one another and use commercially
reasonable efforts to avoid or reduce, to the extent permitted by Applicable Laws, tax withholding or similar obligations in respect of royalties, milestone payments, and other payments made by Roivant to TheraVida under this Agreement. If
withholding taxes are imposed on any such payment, the liability for such taxes shall be the sole responsibility of TheraVida, and Roivant shall (i) deduct or withhold such Taxes from the payment made to TheraVida, (ii) timely pay such
Taxes to the proper taxing authority, and (iii) send proof of payment to TheraVida within [***] following such payment. Each Party shall comply with (or provide the other Party with) any certification, identification or other reporting
requirements that may be reasonably necessary in order for Roivant to not withhold Tax or to withhold Tax at a reduced rate under an applicable bilateral income tax treaty. Each Party shall provide the other with commercially reasonable assistance
to enable the 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

25 

			
	Confidential	  	EXECUTION VERSION

  

 
recovery, as permitted by Applicable Laws, of withholding Taxes or similar obligations resulting from payments made under this Agreement, such recovery to be for the benefit of TheraVida as the
Party bearing the cost of such withholding Tax under this Section 8.9(b) (Tax Cooperation). Notwithstanding the foregoing, if as a result of any assignment or sublicense by Roivant, any change in Roivant’s tax residency, any change in the
entity that originates the payment, or any failure on the part of Roivant to comply with Applicable Laws with respect to withholding Taxes (including filing or record retention requirements), withholding Taxes are imposed that would not otherwise
have been imposed (“Incremental Withholding Taxes”), then Roivant shall be solely responsible for the amount of such Incremental Withholding Taxes and shall increase the amounts payable to TheraVida so that TheraVida receives a sum
equal to the sum which it would have received had there been no such imposition of Incremental Withholding Taxes, except to the extent that such Incremental Withholding Taxes would not have been imposed but for the failure of TheraVida to comply
with any certification, identification or other reporting requirements if such compliance is required or imposed by Applicable Law as a precondition to an exemption from, or reduction in, such Incremental Withholding Taxes. 

(c) Transfer Tax. Roivant shall bear and pay any transfer, stamp, value added, sales, use, or similar Taxes or obligations
(“Transfer Tax”) imposed on amounts payable by Roivant to TheraVida in connection with this Agreement. If TheraVida is required by Applicable Laws to directly pay any Transfer Taxes, Roivant shall indemnify TheraVida for such
Transfer Taxes and shall promptly reimburse TheraVida for any such Transfer Tax. Roivant shall be responsible for the timely filing of any Tax returns related to any such Transfer Taxes provided that TheraVida shall cooperate to file any such Tax
returns if required by Applicable Laws. 
 8.10 Financial Records and Audit. Roivant shall (and shall ensure that its
Affiliates and Sublicensees will) maintain complete and accurate records in sufficient detail to permit TheraVida to confirm the accuracy of any royalty payments and other amounts payable under this Agreement and to verify the achievement of
milestone events under this Agreement. Upon at least [***] prior notice, such records shall be open for examination, during regular business hours, for a period of [***] from the end of the Calendar Year to which such records pertain, and not more
often than [***], by an independent certified public accountant selected by TheraVida and reasonably acceptable to Roivant, for the sole purpose of verifying for TheraVida the accuracy of the financial reports furnished by Roivant under this
Agreement or of any payments made, or required to be made, by Roivant to TheraVida pursuant to this Agreement. The independent certified public accountant shall disclose to TheraVida only whether the audited reports are correct or incorrect and the
specific details concerning any discrepancies. No other information shall be provided to TheraVida. No record may be audited more than once. TheraVida shall bear the full cost of such audit unless such audit reveals an underpayment by Roivant of
more than [***] of the amount actually due for any Calendar Year being audited, in which case Roivant shall reimburse TheraVida for the reasonable costs for such audit. Roivant shall pay to TheraVida any underpayment discovered by such audit within
[***] after the accountant’s report, plus interest (as set forth in Section 8.8 (Late Payments)) from the original due date. If the audit reveals an overpayment by Roivant, then Roivant may take a credit for such overpayment against any
future payments due to TheraVida. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

26 

			
	Confidential	  	EXECUTION VERSION

  

 8.11 Audit Dispute. If Roivant disputes the results of any audit conducted
pursuant to Section 8.10 (Financial Records and Audit), the Parties shall work in good faith to resolve the disagreement. If the Parties are unable to reach a mutually acceptable resolution of any such dispute within [***], the dispute shall be
submitted for resolution to a certified public accounting firm jointly selected by each Party’s certified public accountants or to such other Person as the Parties shall mutually agree (the “Auditor”). The decision of the
Auditor shall be final and the costs of such procedure as well as the initial audit shall be borne between the Parties in such manner as the Auditor shall determine. If the Auditor determines that there has been an underpayment by Roivant, Roivant
shall pay to TheraVida the underpayment within [***] after the Auditor’s decision, plus interest (as set forth in Section 8.8 (Late Payments)) from the original due date. If the Auditor determines that there has been an overpayment by
Roivant, then Roivant may take a credit for such overpayment against any future payments due to TheraVida. 
 ARTICLE 9 

INTELLECTUAL PROPERTY RIGHTS 

9.1 Ownership. 

(a) Ownership of Inventions. Ownership of all Inventions shall be based on inventorship, as determined in accordance with the
rules of inventorship under United States patent laws. Each Party shall solely own any Inventions made solely by its or its Affiliates’ employees, agents or independent contractors (“Sole Inventions”). The Parties shall jointly
own any Inventions that are made jointly by one or more employees, agents or independent contractors of one Party or its Affiliates and one or more employees, agents or independent contractors of the other Party or its Affiliates (“Joint
Inventions”). All Patents claiming Joint Inventions shall be referred to herein as “Joint Patents.” Each Party agrees to assign, and hereby assigns, to the other Party an equal, undivided
one-half ownership in and to all Joint Inventions and Joint Patents. 
 (b) Disclosure of
Inventions. Each Party shall promptly disclose to the other Party all Sole Inventions that are related to Proprietary Drugs or Licensed Products and all Joint Inventions, including any invention disclosures or other similar documents submitted
by its respective employees, agents or independent contractors describing such Inventions, and shall promptly respond to reasonable requests from the other Party for additional information relating to such Inventions. 

9.2 Patent Prosecution and Maintenance. 

(a) Roivant shall have the sole right, but not the obligation, to control the preparation, filing, prosecution (including any
interferences, reissue proceedings and reexaminations) and maintenance of all Roivant Patents worldwide, [***] and by counsel of its own choice. Roivant shall have the first right, but not the obligation, to control the preparation, filing,
prosecution (including any interferences, reissue proceedings and reexaminations) and maintenance of all Joint Patents and Licensed Patents in the Territory, [***] and by counsel selected by Roivant and reasonably acceptable to 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

27 

			
	Confidential	  	EXECUTION VERSION

  

 
TheraVida. Roivant shall consult with TheraVida and keep TheraVida reasonably informed of the status of such Patents and shall promptly provide TheraVida with all material correspondence received
from any patent authority in connection therewith. In addition, Roivant shall promptly provide TheraVida with drafts of all proposed material filings and correspondence to any patent authority with respect to such Patents for TheraVida’s review
and comment prior to the submission of such proposed filings and correspondence. Roivant shall confer with TheraVida and consider in good faith TheraVida’s comments prior to submitting such filings and correspondence, provided that TheraVida
provides such comments within [***] (or a shorter period reasonably designated by Roivant if [***] is not practicable given the filing deadline) of receiving the draft filings and correspondence from Roivant. 

(b) In the event that Roivant desires to abandon or cease prosecution or maintenance of any Joint Patent or Licensed Patent, Roivant
shall provide reasonable prior written notice to TheraVida of such intention to abandon (which notice shall, to the extent possible, be given no later than [***] prior to the next deadline for any action that must be taken with respect to any such
Patent in the relevant patent office). In such case, upon TheraVida’s written election provided no later than [***] after such notice from Roivant, TheraVida shall have the right to assume prosecution and maintenance of such Patent [***]. If
TheraVida does not provide such election within [***] after such notice from Roivant, Roivant may, in its sole discretion, continue prosecution and maintenance of such Patent or discontinue prosecution and maintenance of such Patent. 

9.3 Cooperation of the Parties. Each Party agrees to cooperate fully in the preparation, filing, prosecution and maintenance of
Patents under Section 9.2 (Patent Prosecution and Maintenance), at its own cost. Such cooperation includes: (a) executing all papers and instruments, or requiring its employees or contractors, to execute such papers and instruments, so as
enable the other Party to apply for and to prosecute patent applications in any country as permitted by Section 9.2 (Patent Prosecution and Maintenance); and (b) promptly informing the other Party of any matters coming to such Party’s
attention that may affect the preparation, filing, prosecution or maintenance of any such patent applications. 
 9.4 Infringement
by Third Parties. 
 (a) Notice. In the event that either TheraVida or Roivant becomes aware of any infringement or
threatened infringement by a Third Party of any Licensed Patent, Roivant Patent or Joint Patent in the Territory, which infringing activity involves the using, making, importing, offering for sale or selling of a Licensed Product (regardless of
whether or not Roivant is currently Developing using, making, importing, offering for sale, selling, or otherwise Commercializing the same Licensed Product), or the submission to a Party or a Regulatory Authority in the Territory of an application
for a product referencing a Licensed Product, or any declaratory judgment or equivalent action (including an action before the U.S. Patent and Trademark Office such as an inter partes review) challenging any Licensed Patent, Roivant Patent or Joint
Patent in the Territory in connection with any such infringement (each, a “Product Infringement”), it will promptly notify the other Party in writing to that effect. Any such notice shall include evidence to support an allegation of
infringement or threatened infringement, or declaratory judgment or equivalent action, by such Third Party. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

28 

			
	Confidential	  	EXECUTION VERSION

  

 (b) Enforcement of Licensed Patents and Joint Patents. 

(i) Roivant shall have the first right, as between TheraVida and Roivant, but not the obligation, to bring an appropriate suit or take
other action against any Person or entity engaged in, or to defend against, a Product Infringement of any Licensed Patent or Joint Patent, [***] and by counsel of its own choice. TheraVida shall have the right, [***], to be represented in any such
action by counsel of its own choice, and Roivant and its counsel will reasonably cooperate with TheraVida and its counsel in strategizing, preparing and prosecuting any such action or proceeding. If Roivant fails to bring an action or proceeding
with respect to such Product Infringement of any Licensed Patent or Joint Patent within (A) [***] following the notice of alleged infringement or declaratory judgment or (B) [***] before the time limit, if any, set forth in the appropriate laws and
regulations for the filing of such actions, whichever comes first, TheraVida shall have the right, but not the obligation, to bring and control any such action [***] and by counsel of its own choice, and Roivant shall have the right, [***], to be
represented in any such action by counsel of its own choice. 
 (ii) Except as otherwise agreed by the Parties as part of a
cost-sharing arrangement, any recovery or damages realized as a result of such action or proceeding with respect to Product Infringement of any Licensed Patent or Joint Patent shall be used first to reimburse the Parties’ documented out-of-pocket legal expenses relating to the action or proceeding, and any remaining compensatory damages relating to Product Infringement of a Licensed Patent or Joint Patent
(including lost sales or lost profits) shall be [***], and in the case that Roivant brought and controlled such action or proceeding, such remaining compensatory damages shall be [***] [***], and any punitive damages relating to Product Infringement
of a Licensed Patent or Joint Patent shall be [***]. 
 (c) Enforcement of Roivant Patents. Roivant shall have the sole right,
as between TheraVida and Roivant, but not the obligation, to bring an appropriate suit or take other action against any Person or entity engaged in, or to defend against, a Product Infringement of any Roivant Patents, [***] and by counsel of its own
choice. Any recovery or damages realized as a result of such action or proceeding by Roivant with respect to Roivant Patents shall be used first to reimburse the Parties’ documented out-of-pocket legal expenses relating to the action or proceeding, and any remaining compensatory damages relating to Product Infringement of a Roivant Patent (including lost sales or lost profits) shall be
[***], and any punitive damages relating to Product Infringement of a Roivant Patent shall be [***]. 
 (d) Cooperation. In the
event a Party brings an action in accordance with this Section 9.4 (Infringement by Third Parties), the other Party shall cooperate fully, including, if required to bring such action, the furnishing of a power of attorney or being named as a
party to such action. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

29 

			
	Confidential	  	EXECUTION VERSION

  

 9.5 Infringement of Third Party Rights. Each Party shall promptly notify the
other in writing of any allegation by a Third Party that the manufacture, Development, importation, use, marketing, offer for sale, or sale of any Proprietary Drug or Licensed Product in the Territory infringes or may infringe the intellectual
property rights of a Third Party. If a Third Party asserts that any of its Patents or other rights are infringed by the manufacture, Commercialization or Development by Roivant or its Affiliates of any Licensed Product in the Territory, Roivant
shall have the right but not the obligation to defend against any such assertions [***]. In the event that Roivant elects not to defend against such Third Party claims within [***] of learning of same, TheraVida shall have the right, but not the
obligation, to defend against such an action. In any event, the other Party shall cooperate fully and shall provide full access to documents, information and witnesses as reasonably requested by the Party defending such action. The Party defending
the action will reimburse all Third Party costs incurred in connection with such requested cooperation. Notwithstanding the foregoing, the Parties’ rights and obligations under this Section 9.5 (Infringement of Third Party Rights),
including payment obligations, will be subject to the terms of Article 13 (Indemnification; Liability). 
 9.6 Consent for
Settlement. Neither Party shall unilaterally enter into any settlement or compromise of any action or proceeding under this Article 9 (Intellectual Property Rights) that would in any manner alter, diminish, or be in derogation of the other
Party’s rights under this Agreement without the prior written consent of such other Party, which shall not be unreasonably withheld. 

9.7 Patent Extensions. Roivant shall have discretion regarding, and TheraVida shall cooperate with Roivant in obtaining, patent
term restoration, supplemental protection certificates or their equivalents, and patent term extensions with respect to the Licensed Patents and Joint Patents in any country in the Territory where applicable. Roivant shall file for such extensions
[***]. 
 9.8 Trademarks. Roivant shall own and be responsible for all trademarks, trade names, branding or logos related to
Licensed Products in the Field in the Territory. Roivant shall be responsible for selecting, registering, prosecuting, defending, and maintaining all such marks [***]. 

ARTICLE 10 

CONFIDENTIALITY; PUBLICATION 

10.1 Duty of Confidence. Subject to the other provisions of this Article 10 (Confidentiality; Publication): 

(a) all Confidential Information disclosed by a Party (the “Disclosing Party”) or its Affiliates under this Agreement
will be maintained in confidence and otherwise safeguarded by the recipient Party (the “Receiving Party”) and its Affiliates using at least the same standard of care as the Receiving Party uses to protect its own proprietary or
Confidential Information (but in no event less than reasonable care); 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

30 

			
	Confidential	  	EXECUTION VERSION

  

 (b) the Receiving Party may only use any such Confidential Information for the
purposes of performing its obligations or exercising its rights under this Agreement; and 
 (c) the Receiving Party may disclose
Confidential Information of the Disclosing Party only to: (i) the Receiving Party’s Affiliates and, in the case of Roivant as the Receiving Party, its Sublicensees; and (ii) employees, directors, agents, contractors, consultants and
advisers of the Receiving Party and its Affiliates and, in the case of Roivant as the Receiving Party, Sublicensees, in each case to the extent reasonably necessary for the purposes of, and for those matters undertaken pursuant to, this Agreement;
provided, that such Persons are bound to maintain the confidentiality, and not to make any unauthorized use, of the Confidential Information in a manner consistent with this Article 10 (Confidentiality; Publication). 

10.2 Exceptions. The foregoing obligations as to particular Confidential Information of a Disclosing Party shall not apply to the
extent that the Receiving Party can demonstrate by competent evidence that such Confidential Information: 
 (a) is known by the
Receiving Party at the time of its receipt, and not through a prior disclosure by the Disclosing Party, as shown by contemporaneous written documents of the Receiving Party; 

(b) is in the public domain by use and/or publication before its receipt from the Disclosing Party, or thereafter enters the public
domain through no fault of, or breach of this Agreement by, the Receiving Party; 
 (c) is subsequently disclosed to the Receiving
Party on a non-confidential basis by a Third Party who may lawfully do so and is not under an obligation of confidentiality to the Disclosing Party; or 

(d) is developed by the Receiving Party independently and without use of or reference to any Confidential Information disclosed to it by
or on behalf of the Disclosing Party, as shown by contemporaneous written documents of the Receiving Party. 
 10.3 Authorized
Disclosures. Notwithstanding the obligations set forth in Section 10.1 (Duty of Confidence), the Receiving Party may disclose Confidential Information of the Disclosing Party and the terms of this Agreement to the extent such disclosure is
reasonably necessary in the following instances: 
 (a) filing or prosecuting of Patents as permitted by this Agreement; 

(b) enforcing the Receiving Party’s rights under this Agreement or performing the Receiving Party’s obligations under this
Agreement; 
 (c) in Regulatory Filings for Licensed Products that such Party has the right to file under this Agreement; 

(d) prosecuting or defending litigation as permitted by this Agreement; 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

31 

			
	Confidential	  	EXECUTION VERSION

  

 (e) to the Receiving Party’s directors, Affiliates, actual or potential
Sublicensees (in the case of Roivant), commercial partners, independent contractors, consultants, attorneys, independent accountants or financial advisors who, in each case, have a need to know such Confidential Information in order for the
Receiving Party to exercise its rights or fulfill its obligations under this Agreement, provided, in each case, that any such Person agrees to be bound by terms of confidentiality and non-use (or, in
the case of the Receiving Party’s attorneys and independent accountants, such Person is obligated by applicable professional or ethical obligations) at least as restrictive as those set forth in this Article 10; 

(f) to actual or potential investors, investment bankers, lenders, other financing sources or acquirors (and attorneys and independent
accountants thereof) in connection with potential investment, acquisition, collaboration, merger, public offering, due diligence or similar investigations by such Third Parties or in confidential financing documents, provided, in each case, that any
such Third Party agrees to be bound by terms of confidentiality and non-use (or, in the case of the Receiving Party’s attorneys and independent accountants, such Third Party is obligated by applicable
professional or ethical obligations) that are no less stringent than those contained in this Agreement (except to the extent that a shorter confidentiality period is customary in the industry); and 

(g) such disclosure is required by court order, judicial or administrative process or Applicable Law, provided that in such event
the Receiving Party shall promptly inform the Disclosing Party of such required disclosure and provide the Disclosing Party an opportunity to challenge or limit the disclosure obligations. Confidential Information that is disclosed as required by
court order, judicial or administrative process or Applicable Law shall remain otherwise subject to the confidentiality and non-use provisions of this Article 10 (Confidentiality; Publication), and the
Receiving Party shall take all steps reasonably necessary, including seeking of confidential treatment or a protective order, to ensure the continued confidential treatment of such Confidential Information. 

10.4 Publication. TheraVida shall not publish nor otherwise publicly disclose any data or results regarding any Proprietary Drug
or Licensed Product without the prior written consent of Roivant. Prior to publishing peer reviewed manuscripts disclosing the results of studies carried out under this Agreement, Roivant shall provide TheraVida with the opportunity to review and
comment on any proposed publication which relates to any Proprietary Drug or Licensed Product at least [***] prior to its intended submission for publication. Roivant shall: (i) consider in good faith any comments thereto provided by TheraVida
within such [***] period; and (ii) remove any Confidential Information of TheraVida identified by TheraVida as part of its review. 

10.5 Publicity/Use of Names. No disclosure of the existence, or the terms, of this Agreement may be made by either Party or its
Affiliates, and neither Party shall use the name, trademark, trade name or logo of the other Party, its Affiliates or their respective employee(s) in any publicity, promotion, news release or disclosure relating to this Agreement or its subject
matter, without the prior express written permission of the other Party, except as may be required by law. Notwithstanding the above, each Party and its Affiliates may disclose on its website and in its promotional materials that the other Party is
a development partner of such Party for the Licensed Products and may use the other Party’s name and logo in conjunction with such disclosure. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

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	Confidential	  	EXECUTION VERSION

  

 (a) A Party may disclose this Agreement and its terms, and material developments or
material information generated under this Agreement, in securities filings with the U.S. Securities and Exchange Commission (“SEC”) (or equivalent foreign agency) to the extent required by law after complying with the procedure set
forth in this Section 10.5 (Publicity/Use of Names). In such event, the Party seeking to make such disclosure will prepare a draft confidential treatment request and proposed redacted version of this Agreement to request confidential treatment
for this Agreement, and the other Party agrees to promptly (and in any event, no less than [***] after receipt of such confidential treatment request and proposed redactions) give its input in a reasonable manner in order to allow the Party seeking
disclosure to file its request within the time lines prescribed by applicable SEC regulations. The Party seeking such disclosure shall exercise Commercially Reasonable Efforts to obtain confidential treatment of this Agreement from the SEC as
represented by the redacted version reviewed by the other Party. 
 (b) Further, each Party acknowledges that the other Party may be
legally required, or may be required by the listing rules of any exchange on which the other Party’s or its Affiliate’s securities are traded, to make public disclosures (including in filings with the SEC or other agency) of certain
material developments or material information generated under this Agreement and agrees that each Party may make such disclosures as required by law or such listing rules, provided that the Party seeking such disclosure shall provide the other Party
with a copy of the proposed text of such disclosure sufficiently in advance of the scheduled release to afford such other Party a reasonable opportunity to review and comment thereon. 

(c) If either Party desires to issue a press release or make a public announcement concerning the material terms of this Agreement or
the Development or Commercialization of the Licensed Product under this Agreement, such as the achievement of Regulatory Approvals of the Licensed Product, such Party shall provide the other Party with the proposed text of such announcement for
prior review and, except to the extent such press release or public announcement is permitted by subsection (a) or (b) above, approval by such other Party. 

(d) The Parties agree that after a public disclosure has been made or a press release or other public announcement has been issued in
compliance with subsection (a), (b) or (c) hereof, each Party may make subsequent public disclosures or issue press releases or other public announcements disclosing the same content without having to obtain the other Party’s prior consent
and approval. 
 10.6 Reporting of Financial Information. From and after the Effective Date, to the extent required by the SEC
in connection with Roivant or an Affiliate of Roivant registering securities in a public offering, TheraVida shall (a) cooperate with Roivant or its Affiliates and their respective accountants and auditors by providing access to information,
books, and records related to the Licensed Products as Roivant may reasonably request in connection with the preparation by Roivant or its Affiliates of historical and pro forma financial statements related to 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

33 

			
	Confidential	  	EXECUTION VERSION

  

 
the Licensed Products as may be required to be included in any filing made by Roivant or any of its Affiliates under the Securities Act of 1933, as amended, or the Securities Exchange Act of
1934, as amended, and the regulations promulgated thereunder, including Regulation S-X and (b) without limiting the foregoing, shall provide Roivant with such information as is required for Roivant or its
Affiliates to prepare audited “carve out” financial statements related to the Licensed Products, for the [***] prior to the Effective Date (or such shorter period as agreed to by Roivant) and information requested by Roivant and
reasonably necessary to prepare any applicable pro forma financial information required to be filed by Roivant with the SEC. Such cooperation shall include, as applicable, (i) the signing of management representation letters to the extent
required in connection with any such audit performed by Roivant’s auditors, (ii) providing Roivant or its Affiliates and their respective accountants and auditors with access to management representation letters provided by TheraVida to
TheraVida’s accountants and auditors, and (iii) causing TheraVida’s accountants, auditors, and counsel to cooperate with Roivant or its Affiliates and its accountants, auditors, and counsel in connection with the preparation and audit
of any financial information to be provided under this Section 10.6 (Reporting of Financial Information). If TheraVida elects to provide Roivant with the audited financial statements contemplated hereunder, the selection of an external audit
firm will be at the discretion of TheraVida. Such financial statements shall be derived from TheraVida’s historical financial statements, and accurately present in all material respects the financial position of the Licensed Products as of the
dates thereof. TheraVida hereby consents to the inclusion or incorporation by reference of any financial statements provided to Roivant under this Section 10.6 (Reporting of Financial Information) in any filing by Roivant or its Affiliates with
the SEC and, upon request therefor of Roivant, agrees to request that any auditor of TheraVida that audits any financial statements provided to Roivant or its Affiliates under this Section 10.6 (Reporting of Financial Information) consent to
the inclusion or incorporation by reference of its audit opinion with respect to such financial statements in any filing by Roivant or its Affiliates with the SEC. Roivant shall promptly pay or reimburse all documented costs incurred by TheraVida or
its Affiliates in complying with this Section 10.6 (Reporting of Financial Information). 
 ARTICLE 11 

TERM AND TERMINATION 

11.1 Term. Unless earlier terminated as permitted by this Agreement, the term of this Agreement will commence upon the Effective
Date and continue in full force and effect, on a Licensed Product-by-License Product basis, until the expiration of the last Royalty Term for such Licensed Product in
the Territory (the “Term”). Upon the expiration (but not early termination) of the Term for such Licensed Product, the licenses granted to Roivant shall continue in effect, as non-exclusive,
fully paid-up, royalty-free, transferable, perpetual and irrevocable with respect to such Licensed Product in the Field in the Territory. 

11.2 Termination. 

(a) Termination by Roivant for Convenience. At any time, Roivant may terminate this Agreement, at its sole discretion and for any
reason or no reason, by providing written notice of termination to TheraVida, which notice includes an effective date of termination at least (i) [***] after the date of the notice if the notice is given before the Regulatory Approval of any
Product; or (ii) [***] after the date of the notice if the notice is given after the Regulatory Approval of any Product. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

34 

			
	Confidential	  	EXECUTION VERSION

  

 (b) Termination for Cause. If either Party believes that the other is in
material breach of its obligations hereunder, then the non-breaching Party may deliver notice of such breach to the other Party. The allegedly breaching Party shall have [***] (or [***] in the case of any
payment breach) to cure such breach from the receipt of the notice. If the allegedly breaching Party fails to cure that breach within the applicable period set forth above, then the Party originally delivering the notice of breach may terminate this
Agreement on written notice of termination. Any right to terminate this Agreement under this Section 11.2(b) (Termination for Cause) shall be stayed and the applicable cure period tolled in the event that, during such cure period, the Party
alleged to have been in material breach shall have initiated dispute resolution in accordance with Section 14.9 (Dispute Resolution) with respect to the alleged breach, which stay and tolling shall continue until such dispute has been resolved
in accordance with Section 14.9 (Dispute Resolution). If a Party is determined to be in material breach of this Agreement, the other Party may terminate this Agreement if the breaching Party fails to cure the breach within [***] after the
conclusion of the dispute resolution procedure (and such termination shall then be effective upon written notification from the notifying Party to the breaching Party). 

(c) Termination for Patent Challenge. Except to the extent the following is unenforceable under the laws of a particular
jurisdiction, TheraVida may terminate this Agreement immediately upon written notice to Roivant if Roivant or its Affiliates or Sublicensees, individually or in association with any other person or entity, commences a legal action challenging the
validity, enforceability or scope of any Licensed Patents and does not dismiss or withdraw such legal action within [***] of commencing such legal action. 

(d) Termination for Bankruptcy. This Agreement may be terminated at any time during the Term by either Party upon the other
Party’s filing or institution of bankruptcy, reorganization, liquidation or receivership proceedings, or upon an assignment of a substantial portion of the assets for the benefit of creditors by the other Party; provided, however, that in the
case of any involuntary bankruptcy proceeding such right to terminate shall only become effective if the Party consents to the involuntary bankruptcy or such proceeding is not dismissed within [***] after the filing thereof. 

11.3 Effect of Termination. Upon termination of this Agreement [***], the following consequences shall apply and shall be
effective as of the effective date of such termination: 
 (a) If this Agreement is terminated by Roivant pursuant to
Section 11.2(a) (Termination by Roivant for Convenience) or by TheraVida pursuant to Section 11.2(b) (Termination for Cause), 11.2(c) (Termination for Patent Challenge), or 11.2(d) (Termination for Bankruptcy), then (i) Roivant’s
license under Section 2.1 (License to Roivant) shall terminate; 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

35 

			
	Confidential	  	EXECUTION VERSION

  

 
and (ii) Roivant hereby grants to TheraVida, effective only upon such termination, [***] under the Roivant Technology and the Joint Inventions and Joint Patents, to research, develop, make,
have made, use, distribute, sell, offer for sale, have sold, import, export and otherwise commercialize Proprietary Drugs and Licensed Products in the Field. If this Agreement is terminated by Roivant pursuant to Section 11.2(b) (Termination
for Cause), then TheraVida may request, within [***] of termination, that Roivant enter into good faith negotiations for no more than [***] concerning the terms of an agreement with TheraVida granting TheraVida a license under the Roivant
Technology, Joint Patents, and Joint Inventions. 
 (b) TheraVida shall be solely responsible for all future Development, manufacture
and Commercialization of Proprietary Drugs and Licensed Products in the Field, at its sole cost and expense. 
 (c) Roivant shall
return to TheraVida or destroy, at TheraVida’s election, all Confidential Information of TheraVida, including all copies thereof and all materials, substances and compositions delivered or provided by TheraVida to Roivant. 

(d) Roivant shall [***] to TheraVida all Regulatory Filings and Regulatory Approvals for any Proprietary Drug and Licensed Product, and
any Roivant Know-How contained in such Regulatory Filings and Regulatory Approvals shall be subject to the license grants in Section 11.3(a) (Effects of Termination—subsection(a)) above. 

(e) Roivant shall disclose to TheraVida all Roivant Know-How and all Joint Inventions to the
extent not already known to TheraVida, which may be necessary or reasonably useful for TheraVida to continue to Develop, manufacture and Commercialize Proprietary Drugs and Licensed Products in the Field. In addition, Roivant shall, [***], provide
reasonable technical assistance and transfer all Roivant Know-How and Joint Inventions necessary to manufacture Proprietary Drugs and Licensed Products to TheraVida or its designee. 

(f) Roivant shall, at TheraVida’s request and election, use Commercially Reasonably Efforts to facilitate negotiations between
TheraVida and Roivant’s Third Party providers of clinical research, manufacturing and/or distribution services. 
 (g) Roivant
shall reasonably cooperate, at TheraVida’s request and expense, with TheraVida and its designee(s) to facilitate a smooth, orderly and prompt transition of [***] with respect to Proprietary Drugs or Licensed Products to TheraVida or its
designee(s). 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

36 

			
	Confidential	  	EXECUTION VERSION

  

 (h) TheraVida shall have the right to purchase from Roivant, [***] commercial
quantities of Proprietary Drugs and Licensed Products in Roivant’s or its Affiliates’ possession or control, within [***] after receipt of TheraVida’s request. Any packaging, transport, insurance and other costs for delivery of any
such purchased materials to TheraVida or its designee shall be paid by TheraVida. 
 (i) Roivant shall, and hereby does, effective on
such termination, [***] to TheraVida all of Roivant’s and its Affiliates’ right, title and interest in and to any and all trademarks used by Roivant and its Affiliates in the Territory in connection with its Development, manufacture or
Commercialization of Licensed Products (excluding any such trademarks that include, in whole or part, any corporate name or logo of Roivant or its Affiliates), including all goodwill therein, and Roivant shall promptly take such actions and execute
such instruments, assignments and documents as may be necessary to effect, evidence, register and record such assignment. 
 11.4
Survival. Expiration or termination of this Agreement shall not relieve the Parties of any obligation accruing prior to such expiration or termination, nor shall expiration or any termination of this Agreement preclude either Party from
pursuing all rights and remedies it may have under this Agreement, at law or in equity, with respect to breach of this Agreement. In addition, the provisions of [***] hereof shall survive the expiration or termination of this Agreement. Solely as to
Joint Inventions, the following provisions shall also survive the expiration or termination of this Agreement: [***]. 
 11.5
Termination Not Sole Remedy. Termination is not the sole remedy under this Agreement and, whether or not termination is effected and notwithstanding anything contained in this Agreement to the contrary, all other remedies will remain
available except as agreed to otherwise herein. 
 ARTICLE 12 

REPRESENTATIONS AND WARRANTIES 

12.1 Representations and Warranties of Each Party. Each Party represents and warrants to each other Party as of the Effective
Date that: 
 (a) it has the full right, power and authority to enter into this Agreement, to perform its obligations hereunder; and

 (b) this Agreement has been duly executed by it and is legally binding upon it, enforceable in accordance with its terms, and does
not conflict with any agreement, instrument or understanding, oral or written, to which it is a party or by which it may be bound, nor violate any material law or regulation of any court, governmental body or administrative or other agency having
jurisdiction over it. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

37 

			
	Confidential	  	EXECUTION VERSION

  

 12.2 Representations and Warranties by TheraVida. TheraVida represents and
warrants to Roivant as of the Effective Date that: 
 (a) it has not previously assigned, transferred, conveyed or otherwise
encumbered its right, title and interest in Licensed Technology in a manner that is inconsistent with the exclusive license granted to Roivant under Section 2.1 (Licenses to Roivant); 

(b) TheraVida has not received any written notice from a Third Party that the Development of any Proprietary Drug or Licensed Product
conducted by TheraVida prior to the Effective Date has infringed any Patents of any Third Party or misappropriated any other intellectual property of any Third Party and, without any duty to investigate, is not aware of any imminent or likely threat
from a Third Party of such infringement or misappropriation; 
 (c) TheraVida has not as of the Effective Date, and will not during
the Term, grant any right to any Third Party under the Licensed Technology that would conflict with the rights granted to Roivant hereunder; 

(d) TheraVida has no knowledge as of the Effective Date of any Third Party that is infringing or misappropriating any of the Licensed
Technology; 
 (e) no claim or action has been brought or, to TheraVida’s knowledge, threatened in writing by any Third Party
alleging that the Licensed Patents are invalid or unenforceable, and no Licensed Patent is the subject of any interference, opposition, cancellation or other protest proceeding; 

(f) the patents and patent applications listed on Exhibit C constitute all existing Licensed Patents as of the Effective Date; and 

(g) to TheraVida’s knowledge (without any duty to investigate), as of the Effective Date, there is no Know-How necessary for the Development and manufacture of the Initial Proprietary Drug (as Developed and manufactured by or on behalf of TheraVida prior to the Effective Date) that is Controlled (mutatis
mutandis) by any Third Party. 
 12.3 No Other Warranties. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, NEITHER PARTY
MAKES, AND EACH PARTY EXPRESSLY DISCLAIMS, ANY AND ALL WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING THE WARRANTIES OF DESIGN, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, VALIDITY OF PATENTS,
NON-INFRINGEMENT OF THE INTELLECTUAL PROPERTY RIGHTS OF THIRD PARTIES, OR ARISING FROM A COURSE OF DEALING, USAGE OR TRADE PRACTICES. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

38 

			
	Confidential	  	EXECUTION VERSION

  

 ARTICLE 13 

INDEMNIFICATION; LIABILITY 

13.1 Indemnification by TheraVida. TheraVida shall indemnify and hold Roivant, its Affiliates and Sublicensees, and their
respective officers, directors, agents and employees (“Roivant Indemnitees”) harmless from and against any Claims against them to the extent arising or resulting from: 

(a) the use, Development, manufacture, Commercialization, handling, storage or other disposition by or on behalf of TheraVida or any of
its Affiliates or Third Party licensees (excluding Sublicensees) of any Proprietary Drug or Licensed Product outside the Territory, including any product liability claim; or 

(b) the negligence or willful misconduct of any of the TheraVida Indemnitees; or 

(c) the material breach of any of the covenants, warranties or representations made by TheraVida to Roivant under this Agreement; or

 (d) any material breach by TheraVida of its obligations pursuant to this Agreement; 

except in each case, to the extent such Claims result from the material breach by Roivant of any covenant, representation, warranty or other
agreement made by Roivant in this Agreement or the negligence or willful misconduct of any Roivant Indemnitee. 
 13.2
Indemnification by Roivant. Roivant shall indemnify and hold TheraVida, its Affiliates, and their respective officers, directors, agents and employees (“TheraVida Indemnitees”) harmless from and against any Claims arising
under or related to this Agreement against them to the extent arising or resulting from: 
 (a) the use, Development, manufacture,
Commercialization, handling, storage or other disposition by or on behalf of Roivant or any of its Affiliates or Sublicensees of any Proprietary Drug or Licensed Product in the Territory, including any product liability claim; or 

(b) the negligence or willful misconduct of any of the Roivant Indemnitees; or 

(c) the material breach of any of the covenants, warranties or representations made by Roivant to TheraVida under this Agreement; or

 (d) any material breach by Roivant of its obligations pursuant to this Agreement; 

except in each case, to the extent such Claims result from the material breach by TheraVida of any covenant, representation, warranty or other
agreement made by TheraVida in this Agreement or the negligence or willful misconduct of any TheraVida Indemnitee. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

39 

			
	Confidential	  	EXECUTION VERSION

  

 13.3 Indemnification Procedure. If either Party is seeking indemnification
under Sections 13.1 (Indemnification by TheraVida) or 13.2 (Indemnification by Roivant) (the “Indemnified Party”), it shall inform the other Party (the “Indemnifying Party”) of the claim giving rise to the
obligation to indemnify pursuant to such section as soon as reasonably practicable after receiving notice of the claim. The Indemnifying Party shall have the right to assume the defense of any such claim for which it is obligated to indemnify the
Indemnified Party. The Indemnified Party shall cooperate with the Indemnifying Party and the Indemnifying Party’s insurer as the Indemnifying Party may reasonably request, and at the Indemnifying Party’s cost and expense. The Indemnified
Party shall have the right to participate, at its own expense and with counsel of its choice, in the defense of any claim or suit that has been assumed by the Indemnifying Party. Neither Party shall have the obligation to indemnify the other Party
in connection with any settlement made without such Party’s written consent, which consent shall not be unreasonably withheld or delayed. If the Parties cannot agree as to the application of Section 13.1 (Indemnification by TheraVida) or
13.2 (Indemnification by Roivant) as to any claim, pending resolution of the dispute pursuant to Section 14.9 (Dispute Resolution), the Parties may conduct separate defenses of such claims, with each Party retaining the right to claim
indemnification from the other Party in accordance with Section 13.1 (Indemnification by TheraVida) or 13.2 (Indemnification by Roivant) upon resolution of the underlying claim. 

13.4 Mitigation of Loss. Each Indemnified Party will take and will procure that its Affiliates take all such reasonable steps and
action as are reasonably necessary or as the Indemnifying Party may reasonably require in order to mitigate any Claims (or potential losses or damages) under this Article 13 (Indemnification; Liability). Nothing in this Agreement shall or shall be
deemed to relieve any Party of any common law or other duty to mitigate any losses incurred by it. 
 13.5 Special, Indirect and
Other Losses. EXCEPT IN THE EVENT OF A PARTY’S BREACH OF [***] OR ARTICLE 10 (CONFIDENTIALITY; PUBLICATION), NEITHER PARTY SHALL BE ENTITLED TO RECOVER FROM THE OTHER PARTY ANY SPECIAL, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES IN
CONNECTION WITH THIS AGREEMENT OR ANY LICENSE GRANTED HEREUNDER; provided, however, that this Section 13.5 shall not be construed to limit either Party’s indemnification obligations under Section 13.1 (Indemnification by
TheraVida) or Section 13.2 (Indemnification by Roivant), as applicable. 
 13.6 Insurance. Each Party, at its own expense,
shall maintain product liability and other appropriate insurance (or self-insure) in an amount consistent with sound business practice and reasonable in light of its obligations under this Agreement during the Term. Each Party shall provide a
certificate of insurance (or evidence of self-insurance) evidencing such coverage to the other Party upon request. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

40 

			
	Confidential	  	EXECUTION VERSION

  

 ARTICLE 14 

GENERAL PROVISIONS 

14.1 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York
without reference to any rules of conflict of laws with the exception of sections 5-1401 and 5-1402 of New York General Obligations Law. 

14.2 Assignment. Except as expressly provided hereunder, neither this Agreement nor any rights or obligations hereunder may be
assigned or otherwise transferred by either Party without the prior written consent of the other Party (which consent shall not be unreasonably withheld); provided, however, that either Party may assign or otherwise transfer this Agreement
and its rights and obligations hereunder without the other Party’s consent: (a) in connection with the transfer or sale of all or substantially all of the business or assets of such Party to which this Agreement relates to a Third Party,
whether by merger, consolidation, divesture, restructure, sale of stock, sale of assets or otherwise; provided that in the event of any such transaction (whether this Agreement is actually assigned or is assumed by the acquiring party by
operation of law (e.g., in the context of a reverse triangular merger)), intellectual property rights of the acquiring party to such transaction (if other than one of the Parties to this Agreement) and its affiliates existing prior to the
transaction shall not be included in the technology licensed hereunder; or (b) to an Affiliate, provided that the assigning Party shall remain liable and responsible to the non-assigning Party
hereto for the performance and observance of all such duties and obligations by such Affiliate. The rights and obligations of the Parties under this Agreement shall be binding upon and inure to the benefit of the successors and permitted assigns of
the Parties, and the name of a Party appearing herein will be deemed to include the name of such Party’s successors and permitted assigns to the extent necessary to carry out the intent of this section. Any assignment not in accordance with
this Section 14.2 (Assignment) shall be null and void. 
 14.3 Entire Agreement; Modification. This Agreement is both a
final expression of the Parties’ agreement and a complete and exclusive statement with respect to all of its terms. This Agreement supersedes all prior and contemporaneous agreements and communications, whether oral, written or otherwise,
concerning any and all matters contained herein. This Agreement may only be modified or supplemented in a writing expressly stated for such purpose and signed by the Parties to this Agreement. 

14.4 Relationship Between the Parties. The Parties’ relationship with one another, as established by this Agreement, is
solely that of independent contractors. This Agreement does not create any partnership, joint venture or similar business relationship between the Parties. Neither Party is a legal representative of the other Party. Neither Party can assume or
create any obligation, representation, warranty or guarantee, express or implied, on behalf of the other Party for any purpose whatsoever. 

14.5 Non-Waiver. The failure of a Party to insist upon strict performance of any
provision of this Agreement or to exercise any right arising out of this Agreement shall neither impair that provision or right nor constitute a waiver of that provision or right, in whole or in part, in that instance or in any other instance. Any
waiver by a Party of a particular provision or right shall be in writing, shall be as to a particular matter and, if applicable, for a particular period of time and shall be signed by such Party. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

41 

			
	Confidential	  	EXECUTION VERSION

  

 14.6 Force Majeure. Neither Party shall be held liable to the other Party nor
be deemed to have defaulted under or breached this Agreement for failure or delay in performing any obligation under this Agreement to the extent such failure or delay is caused by or results from causes beyond the reasonable control of the affected
Party, potentially including, but not limited to, embargoes, war, acts of war (whether war be declared or not), acts of terrorism, insurrections, riots, civil commotions, strikes, lockouts or other labor disturbances, fire, floods, or other acts of
God, or acts, omissions or delays in acting by any governmental authority or unavailability of materials related to the manufacture of Products. The affected Party shall notify the other Party of such force majeure circumstances as soon as
reasonably practical, and shall promptly undertake and continue diligently all reasonable efforts necessary to cure such force majeure circumstances or to perform its obligations in spite of the ongoing circumstances. 

14.7 Severability. If any one or more of the provisions contained in this Agreement is held invalid, illegal or unenforceable in
any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby, unless the absence of the invalidated provision(s) adversely affects the substantive rights of
the Parties. The Parties shall in such an instance use their best efforts to replace the invalid, illegal or unenforceable provision(s) with valid, legal and enforceable provision(s) which, insofar as practical, implement the purposes of this
Agreement. 
 14.8 Notices. Any notice to be given under this Agreement must be in writing and delivered either (a) in
person, (b) by air mail (postage prepaid) requiring return receipt, (c) by overnight courier, or (d) by e-mail with delivery and return receipts requested and confirmation of delivery
thereafter, to the Party to be notified at its address(es) given below, or at any address such Party may designate by prior written notice to the other. Notice shall be deemed sufficiently given for all purposes upon the earliest of: (i) the
date of actual receipt; (ii) if air mailed, five (5) days after the date of postmark; (iii) if delivered by overnight courier, the next day the overnight courier regularly makes deliveries or (iv) if sent by e-mail, the date of confirmation of receipt. 
  

	
	If to TheraVida:
	
	 TheraVida, Inc.

177 Bovet Rd., Suite 600

	 San Mateo, California 94402

	 [***]

	
	If to Roivant:
	
	 Roivant Sciences GmbH

	 Viaduktstrasse 8

4051 Basel, Switzerland

	 [***]

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

42 

			
	Confidential	  	EXECUTION VERSION

  

	
	with a copy (which shall not constitute notice) to:
	
	 Roivant Sciences, Inc.

320 West 37th Street, 5th Floor

	 New York, NY 10018

	 [***]

	 [***]

 14.9 Dispute Resolution 

(a) The Parties shall negotiate in good faith and use reasonable efforts to settle any dispute, controversy or claim arising from or
related to this Agreement or the breach thereof. Subject to Section 14.9(h) (Dispute Resolution—subsection (h)), in the event the Parties cannot resolve such dispute, controversy or claim within a period of [***], then the matter shall be
referred to designated senior executives of the Parties for resolution. The initial designated senior executives shall be the Chief Business Officer of Roivant Sciences, Inc., and [***] of TheraVida. Each Party shall be entitled to name substitute
senior executives upon written notice to the other Party. 
 (b) Except as expressly set forth in Section 14.9(h) (Dispute
Resolution—subsection (h)), if, after going through this procedure, the Parties do not fully settle, and a Party wishes to pursue the matter, each such dispute, controversy or claim that is not an Excluded Claim (defined in Section 14.9(g)
(Dispute Resolution—subsection (g)) below) shall be finally resolved by binding arbitration administered by [***] pursuant to [***] then in effect (the “[***]”). 

(c) The arbitration shall be conducted by a panel of three (3) neutral arbitrators experienced in the pharmaceutical business, none
of whom shall be a current or former employee or director, or a current stockholder, of either Party or any of their respective Affiliates or any Sublicensee: within [***] after initiation of arbitration, each Party shall select one (1) person
to act as arbitrator and the two (2) Party-selected arbitrators shall select a third (3rd) arbitrator within [***] of their appointment. If the arbitrators selected by the Parties are unable or fail to agree upon the third (3rd) arbitrator, the
third (3rd) arbitrator shall be appointed by [***]. The place of arbitration shall be New York, New York, and all proceedings and communications shall be in English. Within [***] after selection of the third arbitrator, the arbitrators shall conduct
the Preliminary Conference (as defined in the [***]). In addressing any of the subjects within the scope of the Preliminary Conference, the arbitrators shall take into account both the desirability of making discovery efficient and cost-effective
and the needs of the Parties for an understanding of any legitimate issue raised in the arbitration. The award rendered by the arbitrators shall be final, binding and non-appealable, and judgment may be
entered upon it in any court of competent jurisdiction. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

43 

			
	Confidential	  	EXECUTION VERSION

  

 (d) Either Party may apply to the arbitrators for interim injunctive relief until the
arbitration award is rendered or the controversy is otherwise resolved. The arbitrators’ authority to award punitive or any other type of damages not measured by a Party’s compensatory damages shall be subject to the limitation set forth
in Section 13.5 (Special, Indirect and Other Losses). Each Party shall bear its own costs and expenses and attorneys’ fees and an equal share of the arbitrators’ fees and any administrative fees of arbitration. 

(e) Except to the extent necessary to confirm or enforce an award or as may be required by law, neither Party nor an arbitrator may
disclose the existence, content, or results of an arbitration without the prior written consent of the other Party. In no event shall an arbitration be initiated after the date when commencement of a legal or equitable proceeding based on the
dispute, controversy or claim would be barred by the applicable New York statute of limitations. 
 (f) The Parties agree that, in the
event of a dispute over the nature or quality of performance under this Agreement, neither Party may terminate this Agreement until final resolution of the dispute through arbitration or other judicial determination. The Parties further agree that
any payments made pursuant to this Agreement pending resolution of the dispute shall be refunded if an arbitrator or court determines that such payments are not due. 

(g) As used in this Section, the term “Excluded Claim” means a dispute, controversy or claim that concerns (i) the
construction, scope, validity, enforceability, inventorship or infringement of a patent, patent application, trademark or copyright; or (ii) any antitrust, anti-monopoly or competition law or regulation, whether or not statutory. 

(h) Nothing contained in this Agreement shall deny either Party the right to seek injunctive or other equitable relief from a court of
competent jurisdiction in the context of a bona fide emergency or prospective irreparable harm, and such an action may be filed and maintained notwithstanding any ongoing discussions between the Parties or any ongoing arbitration proceeding.
In addition, either Party may bring an action in any court of competent jurisdiction to resolve disputes pertaining to the validity, construction, scope, enforceability, infringement or other violations of Patents or other intellectual property
rights, and no such claim shall be subject to arbitration pursuant to subsections (b) and (c) of this Section 14.9 (Dispute Resolution). 

14.10 Performance by Affiliates. Each Party may discharge any obligations and exercise any rights hereunder through any of its
Affiliates. Each Party hereby guarantees the performance by its Affiliates of such Party’s obligations under this Agreement, and shall cause its Affiliates to comply with the provisions of this Agreement in connection with such performance. Any
breach by a Party’s Affiliate of any of such Party’s obligations under this Agreement shall be deemed a breach by such Party, and the other Party may proceed directly against such Party without any obligation to first proceed against such
Party’s Affiliate. 
 14.11 Headings. The captions to the several Articles, Sections and subsections hereof are not a part
of this Agreement, but are merely for convenience to assist in locating and reading the several Articles and Sections hereof. 
 14.12
Waiver of Rule of Construction. Each Party has had the opportunity to consult with counsel in connection with the review, drafting and negotiation of this Agreement. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

44 

			
	Confidential	  	EXECUTION VERSION

  

 Accordingly, the rule of construction that any ambiguity in this Agreement shall be construed against the
drafting Party shall not apply. 
 14.13 Business Day Requirements. In the event that any notice or other action or omission is
required to be taken by a Party under this Agreement on a day that is not a Business Day then such notice or other action or omission shall be deemed to require to be taken on the next occurring Business Day. 

14.14 English Language. This Agreement has been prepared in the English language, and the English language shall control its
interpretation. In addition, all notices required or permitted to be given hereunder, and all written, electronic, oral or other communications between the Parties regarding this Agreement shall be in the English language. 

14.15 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. 
 {REMAINDER OF PAGE INTENTIONALLY LEFT BLANK} 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

45 

			
	Confidential	  	EXECUTION VERSION

  

 IN WITNESS WHEREOF, the Parties intending to be bound have caused this License Agreement to
be executed by their duly authorized representatives. 
  

									
	ROIVANT SCIENCES GMBH	 		  	THERAVIDA INC.
					
	By:	 	 [***]
	 		  	By:	  	 [***]

	Name:	 	[***]	 	                    	  	Name:	  	[***]
	Title:	 	[***]	 		  	Title:	  	[***]
	Date:	 	[***]	 		  	Date:	  	[***]

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

46 

			
	    	  	

  

 LIST OF EXHIBITS 
  

	
	Exhibit A: THVD-102
	Exhibit B: Chemical Structures of Oxybutynin and Pilocarpine
	Exhibit C: Licensed Patents Existing as of the Effective Date

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
  

			
	    	  	

  

 Exhibit A 

THVD-102 

THVD-102 is a combination of Oxybutynin and Pilocarpine. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 A-1 

			
	    	  	

  

 EXHIBIT B 

[***] 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 B-1 

			
	    	  	

  

 EXHIBIT C 

LICENSED PATENTS EXISTING AS OF THE
EFFECTIVE DATE 
 [***] 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 C-1

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