Document:

EX-10.5

 Exhibit 10.5 

COMPANY STOCKHOLDER SUPPORT AGREEMENT 

This COMPANY STOCKHOLDER SUPPORT AGREEMENT (this “Agreement”), dated as of October 30, 2022, is made by and among
Phoenix Biotech Acquisition Corp., a Delaware corporation (“Parent”), Intrinsic Medicine, Inc., a Delaware corporation (the “Company”), and each of the undersigned holders (together with each such holder who
executes a signature page to this Agreement after the date hereof, collectively, the “Holders”) of capital stock of the Company. Each of Parent, the Company and the Holders may hereinafter be referred to as a
“Party” and collectively, as the “Parties.” 
 RECITALS 

WHEREAS, Parent, OM Merger Sub, Inc., a Delaware corporation (“Merger Sub”), and the Company have entered into
or will enter into a Business Combination Agreement (as such agreement may be amended from time to time, the “Business Combination Agreement”), pursuant to which, among other things, Merger Sub will merge with and into the Company,
with the Company surviving as the surviving corporation (the “Merger”), and, after giving effect to such Merger, a wholly-owned Subsidiary of Parent, all upon the terms and subject to the conditions set forth in the Business
Combination Agreement; 
 WHEREAS, each Holder beneficially owns (as defined in Rule 13d-3
under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), and has sole voting power with respect to the number and type of the Company Shares indicated opposite such Holder’s name on Schedule 1
attached hereto (or, in the case of any Holder who executes a signature page to this Agreement after the date hereof, attached to such Holder’s signature page) (as used herein, the term “Shares” means all the Company Shares
held by the Holders as of the date hereof and any Company Shares or other equity interests or shares of the capital stock of the Company that such Holder may hereafter acquire, including, without limitation, through acquiring ownership of record or
the power to vote (including, without limitation, by proxy or power of attorney) prior to the termination of the obligations of such Holder under this Agreement); 

WHEREAS, this Agreement is a material inducement to Parent’s and Merger Sub’s willingness to enter into the Business
Combination Agreement and the Ancillary Documents and consummate the transactions contemplated thereby, including the Merger, pursuant to which such Holder will directly or indirectly receive a material benefit; and 

WHEREAS, all capitalized terms used but not defined in this Agreement shall have the respective meanings ascribed to them in the
Business Combination Agreement. 
 NOW, THEREFORE, in consideration of the foregoing recitals, the mutual covenants and agreements
contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, Parent and the Holders agree as follows: 

Section 1.    Agreement to Vote Shares. 

(a)    Each Holder, solely in their capacity as a stockholder of the Company, agrees that, unless the Expiration Date (as
defined below) has occurred, it shall validly execute and deliver to the Company, within forty eight (48) hours after the date that the Proxy Statement/Prospectus is disseminated by the Company to the Company’s stockholders following the
date that the Registration Statement becomes effective, a written consent approving the Business Combination Agreement, the Merger, and any other matters necessary or reasonably requested by the Company for consummation of the Merger and the other
transactions contemplated by the Business Combination Agreement in respect of the Shares. In addition, unless the Expiration Date has occurred, each Holder irrevocably and unconditionally agrees that at any

 
meeting of the holders of Company Shares, or any adjournment or postponement thereof, or in connection with any written consent of the holders of Company Shares, with respect to the Business
Combination Agreement or any of the transactions contemplated thereby, including the Merger, such Holder shall: 

(i)    appear at any such meeting or otherwise cause the Shares to be counted as present thereat for
purposes of calculating a quorum; and 
 (ii)    vote (or cause to be voted) (i) in favor of
adoption and approval of the Business Combination Agreement, the Merger, and any other matters necessary or reasonably requested by the Company for consummation of the Merger and the other transactions contemplated by the Business Combination
Agreement, and (ii) against any proposal that would constitute a breach thereof or that conflicts or materially impedes or interferes therewith, including any Company Acquisition Proposal, or would adversely affect or delay the consummation of
the transactions contemplated by the Business Combination Agreement. 
 (b)    Without limiting any other rights or
remedies of Parent, each Holder hereby irrevocably appoints Parent or any individual designated by Parent as such Holder’s agent, attorney-in-fact and proxy (with
full power of substitution and resubstituting), for and in the name, place and stead of such Holder, up to the Expiration Date, to attend on behalf of such Holder any meeting of the Company Stockholders with respect to the matters described in
Section 1(a)(ii), to include the Shares held by such Holder in any computation for purposes of establishing a quorum at any such meeting of the Company Stockholders, to vote (or cause to be voted) such Shares or consent (or
withhold consent) with respect to any of the matters described in Section 1(a)(ii) in connection with any meeting of the Company Stockholders or any action by written consent by the Company Stockholders (including the
Company Stockholder Written Consent), in each case, only in the event and to the extent that the Holder fails to timely perform or otherwise comply with the covenants, agreements or obligations set forth in Section 1(a).
The proxyholder may not exercise the proxy granted pursuant to this Section 1(b) on any matter except those provided in Section 1(a), and each Holder may vote its, his or her Shares on all other
matters, subject to the other applicable covenants, agreements and obligations set forth in this Agreement. 

(c)    The proxy granted by each Holder pursuant to Section 1(b) (i) will be automatically
revoked upon the Expiration Date, (ii) is coupled with an interest sufficient in Law to support, subject to clause (i), an irrevocable proxy and is granted in consideration for Parent entering into the Business Combination Agreement and
agreeing to consummate the transactions contemplated thereby, and (iii) is a durable proxy and shall survive the bankruptcy, dissolution, death, incapacity or other inability to act by such Holder and shall revoke any and all prior proxies
granted by such Holder with respect to the Shares held by such Holder. The vote or consent of the proxyholder in accordance with Section 1(b) and with respect to the matters in Section 1(a)(ii)
shall control in the event of any conflict between such vote or consent by such proxyholder and a vote or consent by each Holder (or any other Person with the power to vote the Shares held by such Holder) with respect to the matters in
Section 1(a)(ii). 
 (d)    Prior to the Expiration Date, except as expressly set forth
herein, no Holder shall enter into any agreement, understanding or arrangement (whether written or oral) with any Person to vote or give instructions in any manner inconsistent with this Section 1. Any such vote shall be
cast, or consent shall be given, in accordance with such procedures relating thereto so as to ensure that it is duly counted for purposes of determining that a quorum is present and for purposes of recording the results of such vote or consent. 

(e)    In the event of any equity dividend or distribution, or any change in the equity interests of the Company by reason
of any equity dividend or distribution, equity split, recapitalization, combination, conversion, exchange of equity interests or the like prior to the Closing (including the transactions 

  
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contemplated by the Business Combination Agreement), the term “Shares” shall be deemed to refer to and include the Shares as well as all such equity dividends and distributions and any
securities into which or for which any or all of the Shares may be changed or exchanged or that are received in such transaction (including the SPAC Common Stock received as result of the consummation of the Merger pursuant to the Business
Combination Agreement). For the avoidance of doubt, in no event shall the term “Shares” be deemed to refer to or include any securities issued to any Holder pursuant to any Subscription Agreement. 

Section 2.    Transfer of Shares. 

(a)    Each Holder agrees that, prior to the Expiration Date, he, she or it shall not sell, assign, transfer (including by
operation of law), place a lien on, pledge, dispose of or otherwise encumber any of his, her or its Shares or otherwise agree to do any of the foregoing (collectively, a “Transfer”), except (a) in compliance with all applicable
federal and state securities Laws, (b) in compliance with the Governing Documents of the Company (it being understood and agreed than any waiver or consent to any Transfer pursuant to the Governing Documents of the Company shall require the
mutual consent of Parent and the Company), (c) in compliance with the Business Combination Agreement and (d) if, prior to such Transfer, each transferee signs a counterpart to this Agreement pursuant to which such transferee agrees to be bound
by the terms of this Agreement and to be a “Holder” hereunder; provided that, any subsequent transfer of the Shares by any such transferee shall also be made pursuant to, and in accordance with, all of the provisions of this
Section 2 to the same extent as if each such transferee were a Holder. Each Holder shall not, directly or indirectly, 

(i)    pledge, encumber or create a Lien on any Shares or enter into any contract, option, commitment or
other arrangement or understanding with respect to the foregoing; 
 (ii)    grant any proxies or powers
of attorney or enter into a voting agreement or other arrangement with respect to any of such Holder’s Shares; 

(iii)    enter into, or deposit any of such Holder’s Shares into, a voting trust or take any other
action which would, or would reasonably be expected to, result in a diminution of the voting power represented by any of such Holder’s Shares; or 

(iv)    commit or agree to take any of the foregoing actions. 

As used in this Agreement, the term “Expiration Date” shall mean the earliest to occur of (i) the Effective Time, (ii) such date
and time as the Business Combination Agreement shall be terminated pursuant to Article 7 thereof and (iii) upon mutual written agreement of the Parties. 

(b)    From the Effective Time until the earlier of (i) the Lock-Up Release
Date (as defined below) or (ii) the valid termination of this Agreement pursuant to Section 13 (the “Lock-Up Period”), each Holder hereby agrees that it shall
not, directly or indirectly, Transfer any of the Shares (including, for the avoidance of doubt, the SPAC Common Stock received as result of the consummation of the Merger pursuant to the Business Combination Agreement); provided,
however, that the foregoing shall not apply to any Transfer (A) to such Holder’s officers or directors, any affiliates or family members thereof or any of their affiliates; (B) in the case of an individual, by gift to a member
of one of the individual’s immediate family or to a trust, the beneficiary of which is a member of the individual’s immediate family, an affiliate of such person or to a charitable organization; (C) in the case of an individual, by
virtue of Laws of descent and distribution upon death of the individual; (D) in the case of an individual, pursuant to a qualified domestic relations order; (E) by private sales or transfers made in connection with the transactions
contemplated by the Business Combination Agreement; (F) pro rata to the direct or indirect partners, members or shareholders of such Holder or any related investment funds or vehicles controlled or managed

  
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by such persons or their respective affiliates in connection with the liquidation or dissolution thereof, and (G) by virtue of such Holder’s organizational documents upon liquidation or
dissolution thereof; provided, that any transferee of any Transfer of the type set forth in clauses (A) through (G) must enter into a written agreement in form and substance reasonably satisfactory to Parent agreeing to be bound by this
Agreement prior to the occurrence of such Transfer. For purposes of this Agreement, the “Lock-Up Release Date” means the earliest of (A) 180 days after the date of the Closing and
(B) subsequent to the Closing, (x) if the last reported sale price of the Class A Common Stock equals or exceeds $12.50 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any
20 trading days within any 30 consecutive trading day period commencing after the Closing, or (y) the date upon completion of a liquidation, merger, stock exchange, reorganization or other similar transaction that results in all of the public
stockholders of Parent having the right to exchange their SPAC Common Stock for cash, securities or other property. In furtherance of the foregoing, Parent hereby agrees to (i) place a revocable stop order on all Shares subject to this
Section 2(b), including those that may be covered by a registration statement, and (ii) notify Parent’s transfer agent in writing of such stop order and the restrictions on such Shares under this
Section 2(b) and direct Parent’s transfer agent not to process any attempts by any Holder to Transfer any Shares except in compliance with this Section 2(b). 

Notwithstanding the foregoing, to the extent any Holder is granted a release or waiver to a substantially similar lockup to those set forth in the
restrictions contained in this Section 2 prior to the expiration of the Lock-Up Period, then all Holders subject to such restrictions shall be automatically granted a release or
waiver from the restrictions contained in this Section 2 to the same extent, on substantially the same terms as and on a pro rata basis with, the Holder to which such release or waiver is granted. 

Section 3.    Certain Covenants of the Holder. 

(a)    Each Holder and the Company hereby agree that, notwithstanding anything to the contrary in any such agreement,
(i) each of the agreements set forth on Schedule 2 hereto shall be automatically terminated and of no further force and effect (including any provisions of any such agreement that, by its terms, survive such termination) effective as of,
and subject to and conditioned upon the occurrence of, the Effective Time and (ii) upon such termination neither the Company nor any of its Affiliates shall have any further obligations or any Liability under or with respect to each such
agreement. Without limiting the above, each of the Equity Holders who are a party to the agreements set forth on Schedule 2 hereby expressly and irrevocably acknowledge and agree that all terms and conditions of the respective agreements to
which they are a party were duly observed or waived, as applicable. 
 (b)    Each Holder hereby agrees to be bound by
and subject to (i) Sections 5.3(a) (Confidentiality) and 5.4(a) (Public Announcements) of the Business Combination Agreement to the same extent as such provisions apply to the parties to the Business Combination
Agreement, as if such Holder is directly party thereto, and (ii) Section 5.6(a) (Exclusive Dealing) of the Business Combination Agreement to the same extent as such provisions apply to the Company, as if the Holder is
directly party thereto. 
 Section 4.    Representations and Warranties of Holders. Each Holder hereby
represents and warrants to Parent as follows: 
 (a)    such Holder has the full power and authority to execute and
deliver this Agreement and to perform such Holder’s obligations hereunder; 
 (b)    this Agreement has been duly
executed and delivered by such Holder and, assuming due authorization, execution and delivery by the other Parties, constitutes a valid, legal and binding agreement with respect to such Holder, enforceable against such Holder in accordance with its
terms, subject to applicable bankruptcy, insolvency, reorganization, fraudulent transfer, moratorium or similar Laws affecting creditors’ rights generally and general principles of equity; 

  
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 (c)    if such Holder is the beneficial owner of any Shares held in
trust, no consent of any beneficiary of such trust is required in connection with the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby or by the Business Combination Agreement; 

(d)    such Holder beneficially owns the number of Shares indicated opposite such Holder’s name on Schedule 1
hereto, free and clear of any Liens (other than Liens created by this Agreement, applicable securities laws, the Company’s Governing Documents, that certain Registration Rights Agreement made as of August 31, 2021 by and among the Company
and certain of its stockholders (the “Registration Rights Agreement”), that certain Stockholders Agreement made as of May 22, 2019 by and among the Company and certain of its stockholders (the “Stockholders
Agreement”), and Permitted Liens), and has sole, and otherwise unrestricted, voting and investment power with respect to such Shares; none of the Shares are subject to any voting trust or other agreement, arrangement or restriction with
respect to the voting of the Shares (other than the Stockholders Agreement); and no Person has any right to acquire from such Holder any of the Shares indicated opposite such Holder’s name on Schedule 1 hereto; 

(e)    such Holder agrees to promptly notify Parent in writing of any changes or updates to Schedule 1 hereto as it
relates to such Holder after the date hereof; 
 (f)    such Holder understands that, at the Effective Time, each
outstanding Share shall be converted into the right to receive the Merger Consideration as set forth in the Business Combination Agreement; 

(g)    the execution and delivery of this Agreement by such Holder, the consummation by such Holder of the transactions
contemplated hereunder and the performance by such Holder of his, her or its obligations hereunder do not and will not conflict with, or result in any violation or breach of, or default (with or without notice or lapse of time or both) under, any
Contract or any judgment to which such Holder is a party or by which such Holder is bound, or any Law to which such Holder is subject or, in the event that such Holder is a corporation, company, partnership, limited liability company, joint venture,
association, trust, business trust or other entity, any Governing Document of such Holder; 
 (h)    the execution and
delivery of this Agreement by such Holder, the consummation by such Holder of the transactions contemplated hereunder and the performance by such Holder of his, her or its obligations hereunder do not and will not require any consent, approval,
qualification, order or authorization of, registration, declaration or filing with, or notice to, any Governmental Entity by such Holder except for applicable requirements, if any, of the Exchange Act, and except where the failure to obtain such
consents, approvals, qualifications, orders or authorizations or registrations, declarations or filings, would not prevent or impair in any material respect the performance by such Holder of his, her or its obligations under this Agreement; and 

(i)    no investment banker, broker, finder, consultant or intermediary or other Person is entitled to any broker’s,
finder’s, financial advisor’s or other similar fee or commission based upon arrangements made by or on behalf of such Holder in connection with its entering into this Agreement. 

Section 5.    Remedies. Notwithstanding anything to the contrary set forth in the Business Combination
Agreement, the Parties agree that irreparable damage for which monetary damages, even if available, would not be an adequate remedy, would occur in the event that the Parties do not perform their respective obligations under the provisions of this
Agreement in accordance with their specific terms or otherwise breach such provisions. It is accordingly agreed that the Parties shall be entitled to an injunction 

  
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or injunctions, specific performance and other equitable relief to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement, in each case, without
posting a bond or undertaking and without proof of damages and this being in addition to any other remedy to which they are entitled at law or in equity. Each of the Parties agrees that it will not oppose the granting of an injunction, specific
performance and other equitable relief when expressly available pursuant to the terms of this Agreement on the basis that the other Parties have an adequate remedy at law or an award of specific performance is not an appropriate remedy for any
reason at law or in equity. 
 Section 6.    No Waivers. No waiver of any breach of this Agreement extended
by Parent to a Holder shall be construed as a waiver of any rights or remedies of Parent with respect to any other Holder or with respect to any subsequent breach of such Holder or any other such Holder. No waiver of any provisions hereof by either
Party shall be deemed a waiver of any other provisions hereof by any such Party, nor shall any such waiver be deemed a continuing waiver of any provision hereof by such Party. 

Section 7.    Appraisal Rights; Claims. Each Holder hereby agrees (a) not to exercise any
appraisal rights or any dissenters’ rights that such Holder may have (whether under applicable Law or otherwise) or could potentially have or acquire in connection with the Business Combination Agreement and the transactions contemplated by the
Business Combination Agreement, including the Merger, and (b) not to commence or participate in any claim, derivative or otherwise, against the Company, Parent, Merger Sub or any of their respective Affiliates relating to the negotiation,
execution or delivery of this Agreement or the Business Combination Agreement or the consummation of the Merger, including any claim (i) challenging the validity of, or seeking to enjoin the operation of, any provision of this Agreement or
(ii) alleging a breach of any fiduciary duty of the Company Board in connection with this Agreement, the Business Combination Agreement or the Merger. 

Section 8.    Fees and Expenses. Except as otherwise provided herein or in the Business Combination Agreement,
all fees and expenses incurred in connection with or related to this Agreement and the Business Combination Agreement and the transactions contemplated hereby and thereby will be paid by the party incurring such fees or expenses, whether or not such
transactions are consummated. 
 Section 9.    Trust Account Waiver. Reference is made to the final
prospectus of Parent, filed with the Securities and Exchange Commission (the “SEC”) (File No. 333-259491) on October 8, 2021 (the “Prospectus”). The Holder
acknowledges, agrees and understands that Parent has established a trust account (the “Trust Account”) containing the proceeds of its initial public offering and certain proceeds of the private placement (including interest accrued
from time to time thereon) for the benefit of Parent’s public stockholders. The Holder hereby agrees that it does not now and shall not at any time hereafter have any right, title, interest or claim of any kind in or to any assets held in the
Trust Account, and shall not make any claim against the Trust Account, regardless of whether such claim arises as a result of, in connection with or relating in any way to this Agreement, the transactions contemplated hereby or any proposed or
actual business relationship between Parent or any of its Representatives or Affiliates, on the one hand, and the Holder or any of its Representatives or Affiliates, on the other hand or any other matter, and regardless of whether such claim arises
based on contract, tort, equity or any other theory of legal liability (any and all such claims are collectively referred to hereafter as the “Released Claims”). The Holder hereby agrees that, notwithstanding anything to the
contrary in this Agreement, it does not now and shall not at any time hereafter have any right, title, interest or claim of any kind in or to any monies in the Trust Account or distributions therefrom, or make any claim against the Trust Account
(including any distributions therefrom), regardless of whether such claim arises based on contract, tort, equity or any other theory of legal liability. 

Section 10.    Notices. All notices, requests, claims, demands and other communications under this Agreement
shall be in writing and shall be given (and shall be deemed to have been duly given) by 

  
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delivery in person, by facsimile (having obtained electronic delivery confirmation thereof), email (having obtained electronic delivery confirmation thereof), or by registered or certified mail
(postage prepaid, return receipt requested) (upon receipt thereof) to the other Parties as follows: 
 (a)    if to
Parent: 
 Phoenix Biotech Acquisition Corp. 

2201 Broadway, Suite 705 

Oakland, CA 94612 
 Attention:
Chris Ehrlich 
 Email: chris@phoenixbiotechacquisitioncorp.com 

with copies (which shall not constitute notice) to: 

Goodwin Procter LLP 
 The New
York Times Building 
 620 Eighth Avenue 

New York, NY 10018 
 Attention:
Stephen M. Davis; Jeffrey A. Letalien 
 Email: SDavis@goodwinlaw.com; JLetalien@goodwinlaw.com 

(b)    if to Company: 

Intrinsic Medicine, Inc. 
 500
Yale Avenue North 
 Seattle, WA 98109 

Attention: Alex Martinez; Dustin Crawford 

Email: alex@intrinsicmedicine.com; dustin@intrinsicmedicine.com 

with copies (which shall not constitute notice) to: 

Ropes & Gray LLP 
 1211
Avenue of the Americas 
 New York, NY 10036-8704 

Attention: Daniel L. Forman; Carl P. Marcellino 

Email: Daniel.Forman@ropesgray.com; Carl.Marcellino@ropesgray.com 

(c)    if to a Holder, to the address or facsimile number set forth under such Holder’s signature on the signature
page hereto. 
 Section 11.    Assignment. Neither this Agreement nor any of the rights, interests or
obligations hereunder shall be assigned, in whole or in part, by operation of Law or otherwise by any of the Parties without the prior written consent of the other Parties. Subject to the preceding sentence, this Agreement shall be binding upon,
inure to the benefit of and be enforceable by, the Parties and their respective successors and assigns. 

Section 12.    Amendment. Except as otherwise specifically set forth in this Agreement, this Agreement may not
be amended except by an instrument in writing signed on behalf of each of the Parties. Except as otherwise specifically set forth in this Agreement, any amendment, supplement or modification of or to any provision of this Agreement and any waiver of
any provision of this Agreement shall be effective (a) only if it is made or given in writing and signed by Parent and all of the Holders or, in the case 

  
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of a waiver, by Parent and (b) only in the specific instance and for the specific purpose for which made or given. Notwithstanding anything to the contrary contained herein, any holder of
Shares may become party to this Agreement by executing and delivering a counterpart signature page hereto agreeing to be bound by and subject to the terms of this Agreement as a Holder hereunder. In such event, each such person shall thereafter be
deemed a Holder for all purposes under this Agreement. 
 Section 13.    Termination. This Agreement shall
automatically terminate, without any notice or other action by any Party, and be void ab initio upon the earliest to occur of (a) the Effective Time, (b) such date and time as the Business Combination Agreement shall be terminated
pursuant to Article 7 thereof, and (c) upon mutual written agreement of the Parties. Upon termination of this Agreement as provided in the immediately preceding sentence, none of the Parties shall have any further obligations or Liabilities
under, or with respect to, this Agreement; provided, however, that (i) the termination of this Agreement pursuant to the foregoing clause (b) shall not affect any Liability on the part of any Party for a Willful Breach of any
covenant or agreement set forth in this Agreement prior to such termination or Fraud; (ii) the provisions of Section 2(b) (Transfer Restrictions), Section 3(a) (Termination of
Related Party Agreements) and Section 7(b) (Claims) shall survive the termination of this Agreement pursuant to the foregoing clause (a); and (iii) the provisions of Section 5
(Remedies), Section 7(a) (Appraisal Rights), Section 8 (Fees and Expenses), Section 9 (Trust Account Waiver),
Section 10 (Notices), Section 11 (Assignment), Section 12 (Amendment), this Section 13 (Termination),
Section 14 (Entire Agreement), Section 17 (Further Assurances), Section 20 (Miscellaneous) and Section 21 (Parties
Advised by Counsel) of this Agreement shall remain in full force and effect and survive any termination of this Agreement. 

Section 14.    Entire Agreement. This Agreement, the schedules hereto and the Business Combination Agreement
contain the entire agreement and understanding between the Parties with respect to the subject matter hereof and thereof and supersede all prior discussions, negotiations, commitments, agreements and understandings, both written and oral, relating
to such subject matter. 
 Section 15.    No Third-Party Beneficiaries. Except as otherwise provided in this
Agreement, this Agreement is for the sole benefit of the Parties and their permitted successors and assigns, and nothing herein expressed or implied shall give or be construed to give to any Person, other than the Parties and such successors and
assigns, any legal or equitable rights hereunder. 
 Section 16.    Capacity as a Holder. Notwithstanding
anything herein to the contrary, the Holder signs this Agreement solely in the Holder’s capacity as a stockholder of the Company, and not in any other capacity and this Agreement shall not limit or otherwise affect the actions of any affiliate,
employee, or designee of the Holder or any of its affiliates in his or her capacity, if applicable, as an officer or director of the Company or any other Person. 

Section 17.    Further Assurances. From time to time and without additional consideration, each Holder agrees
that it (i) shall not take any action that would reasonably be expected to prevent, impede, interfere with or adversely affect such Holder’s, the Company’s and/or Parent’s ability to perform its obligations under this Agreement
and/or the Business Combination Agreement, except as expressly contemplated by this Agreement or the Business Combination Agreement, and (ii) shall execute and deliver, or cause to be executed and delivered, such additional transfers,
assignments, endorsements, proxies, consents and other instruments, and shall take such further actions, as Parent may reasonably request for the purpose of carrying out and furthering the intent of this Agreement. In addition, each Holder that is a
party to the Registration Rights Agreement agrees to execute and deliver a counterpart of the Investor Rights Agreement, to become effective as of, and contingent upon consummation of, the Closing. 

Section 18.    Disclosure. Each Holder agrees to provide to Parent, the Company and their respective
Representatives any information regarding such Holder or such Holder’s Shares that is 

  
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reasonably requested by Parent, the Company or their respective Representatives and required in order for the Company and Parent to comply with Sections 5.4(b) (Public
Announcements) and 5.7 (Preparation of Registration Statement/Proxy Statement) of the Business Combination Agreement. Each Holder hereby authorizes Parent and the Company to publish and disclose in any announcement or disclosure
required by the SEC or Nasdaq (including the Registration Statement/Proxy Statement), the Holder’s identity and ownership of the Shares and the nature of the Holder’s obligations under this Agreement. 

Section 19.    Certain Events. Each Holder agrees (severally with respect to itself and not jointly) that this
Agreement and the obligations hereunder will attach to such Holder’s Shares and will be binding upon any Person to which legal or beneficial ownership of such Holder’s Shares passes, whether by operation of law or otherwise, including such
Holder’s heirs, guardians, administrators or successors. 
 Section 20.    Miscellaneous. The
provisions of Section 8.5 (Governing Law), Section 8.7 (Construction; Interpretation), Section 8.10 (Severability),
Section 8.11 (Counterparts; Electronic Signatures), Section 8.15 (Waiver of Jury Trial) and Section 8.16 (Submission to Jurisdiction) of the Business
Combination Agreement shall apply to this Agreement mutatis mutandis as if set forth herein. 

Section 21.    Parties Advised by Counsel. This Agreement has been negotiated between unrelated parties who
are sophisticated and knowledgeable in the matters contained in this Agreement and who have acted in their own self interest. In addition, each Party has had the opportunity to seek advice of legal counsel. This Agreement will not be interpreted or
construed against any Party because that Party or any attorney or representative for that Party drafted or participated in the drafting of this Agreement. 

[Signature page follows] 

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

			
	PHOENIX BIOTECH ACQUISITION CORP.
		
	By:	 	 /s/ Chris Ehrlich

	Name:	 	Chris Ehrlich
	Title:	 	Chief Executive Officer
	
	INTRINSIC MEDICINE, INC.
		
	By:	 	 /s/ Alexander Martinez

	Name:	 	Alexander Martinez
	Title:	 	Chief Executive Officer

  
 [Signature Page to
Support Agreement] 

 
			
	 /s/ Terry Dustin Crawford

	Terry Dustin Crawford
	
	[for an entity, use the following signature block instead]
	
	[[HOLDER]
	
	[Type in name of Holder entity]
		
	By:	 	
                     

	Name:	 	
	Title:                                ]
	
	 Address for Notice:     [omitted]

	
	 Email for Notice:         [omitted]

  
 [Signature Page to
Support Agreement] 

 SCHEDULE 1 

 

													
	Holder	  	Number of
Shares Held	 	  	Type	 	  	Address	 
	 Terry Dustin Crawford
	  	 	36,750	 	  	 	Common Stock	 	  	 	[omitted	] 

  
 [Schedule 1 to Support
Agreement] 

 SCHEDULE 2 

Terminated Related Party Agreements 

  
 [Schedule 2 to Support
Agreement]Exhibit 10.7

 

Amendment #1 to

OFF TAKE AGREEMENT

 

 

THIS Amendment (the “Amendment”) to the
Offtake Agreement (the “Agreement”) originally entered into on June 13, 2016 between NioCorp Developments LTD (“NioCorp”)
and CMC Cometals division of Commercial Metals Company (“CMC”), and subsequently, on Sept 1, 2017, assigned to and assumed
from CMC by Traxys Cometals USA, LLC., is entered into on April 13, 2020.

WHEREAS, the parties to the Agreement wish to amend the terms of the Agreement as set out herein and in accordance with
the terms of Clause 18.4 of the Agreement;

 

WHEREAS,
Traxys North America LLC (“TNA”) is the successor by merger to Traxys Cometals USA LLC. By virtue of the merger, TNA assumed
all of Traxys Cometals USA LLC’s rights, title and interest and all obligations under the Agreement.

 

NOW, THEREFORE, the undersigned
parties do hereby agree to amend the Agreement as follows:

 

The definition of the term “Territory”
in Clause 1.1 (“Definitions and Interpretation”) of the Agreement is hereby replaced with the following:

 

“Territory: North America
(with the exception of U.S. Steel), South Africa, Indonesia, Malaysia, Thailand, Vietnam, Singapore, Commonwealth of Independent States
and Mainland China with the exception of the following excluded companies:

- Baosteel Group

- Shagang Group

- Shougang Group

- Taiyuan Iron &
Steel Group (TISCO for short)

- Huzhou Yongxing
Special Steel Import & Export Co., Ltd.

- Tianjin New Wei
San Industrial Co., Ltd. & Tianjin Da Shiang Precision Industrial Co., Ltd.

 

and any other country as the Parties
may agree from time to time in writing, where the parties intend the Buyer to have the exclusive right to sell the Product. Anything herein
contained to the contrary notwithstanding, any country, territory or area not specifically set forth above, is excluded from the Territory.
In addition, Thyssen Krupp Metallurgical Products GMBH and its parent, subsidiary and affiliate companies are specifically excluded from
the Territory, regardless of where in the world they may be located.”

 

Capitalized terms not otherwise defined
herein shall have the meanings ascribed to them in the Agreement. Except as specifically set forth herein, all other terms and provisions
of the Agreement not expressly modified hereby shall remain in full force and effect and are hereby expressly ratified and confirmed.

 

 

	Traxys North America LLC	NioCorp Developments, LTD
	By: /s/ John Kahn	By: /s/ John F. Ashburn Jr.
	Name: John Kahn	Name: John F. Ashburn Jr.
	Title: Global Product Manager	Title: VP & General Counsel

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