Document:

EX-10.64

 Exhibit 10.64 

LICENSE AGREEMENT 

License Agreement made as of the 20th day of March 2017, by and between Madison Avenue Suites LLC and Sellas Life Sciences Group Inc 

In consideration of the mutual terms and conditions herein, Licensor agrees to perform the services more particularly described below and, in
addition, grants Licensee an exclusive license to use a private office(s) as, from time to time, as designated by Licensor, and in common with other licensees of Licensor, a license to use other facilities and services of Licensor located on the 3rd and 4th Floors of 315 Madison Avenue, New York, NY 10017 (hereinafter referred to as the “Premises”) in accordance with the terms set
forth herein. 
  

	1.	DEFINITIONS: 

 For the purposes of this License Agreement the following terms shall have
the meanings ascribed to them below: 
  

	 	A.	Unit(s): Suite Number 4006, 4007, 4008,4009,4010,4011 and 4012 as shown on the floor plan located on the 3rd floor and/or 4th floor of the Premises annexed hereto as
Schedule D. 

  

	 	B.	Premises: 3rd and 4th floors of the building known as 315 Madison Avenue, New York, New York 10017.

  

	 	C.	Name of Licensor: Madison Avenue Suites LLC 

  

	 	D.	Address of Licensor: 315 Madison Avenue, 3rd Floor, New York, NY 10017 

  

	 	E.	Phone Number of Licensor: 212-385-1260 

  

	 	F.	Name of Licensee: Sellas Life Sciences Group Inc 

  

	 	G.	Address of Licensee: 350 Park Avenue 13th Floor New York NY 10022 

  

	 	H.	Phone Number of Licensee: 1917-438-4350 

  

	 	I.	Email Address of Licensee: crhymer@sellaslife.com 

  

	 	J	Commencement Date: May 1st 2017 

  

	 	K	Expiration Date: April 31st, 2019 

  

	 	L.	Monthly Base License Fee: 1st year $17,700 2nd year $19,000 

 

	 	M.	Initial Set-Up Fee: $300 per suite//Waived 

	 	N.	Security Deposit: $35,400 

  

	 	O.	Overlease: Lease dated November 18, 2014 by and between Fifty East Forty Second Company LLC as landlord, and Madison Avenue Suites LLC as tenant, covering the Premises; as such lease may be amended from time to
time. 

  

	 	P.	Broker: None 

  

	 	Q.	Base Services: Use of executive offices and such other services as are enumerated on Schedule A annexed. 

  

	 	R.	Base Services Fee: Charges for Base Services. 

  

	 	S.	Sundry Services: Use of executive offices and such other services as are enumerated on Schedule B annexed. 

  

	 	T.	Sundry Services Fee: Charges for Sundry Services as set forth on Schedule B. 

  

	2.	GRANT OF LICENSE: 

 This agreement is the commercial equivalent of an agreement for
accommodation(s) in a hotel. The whole of the premises remains in Licensor’s possession and control. Licensee accepts that this agreement creates no leasehold or other real property interest with respect to the accommodation(s). Licensee is
hereby granted a license to use and occupy the Unit(s). 
  

	3.	TERM: The license granted hereunder shall have a term commencing on the Commencement Date and ending on the Expiration Date. This License is not to be construed as in any way granting to Licensee any interest in
any office in the Premises or any part thereof, it being the intention that this Agreement merely grants a license to enter upon and use the Premises in accordance with the terms hereof and will not be deemed to grant to the Licensee a leasehold or
other real property interest. The fact that charges may be quoted on an annual or monthly basis is not meant to imply any annual or month-to-month relationship, but is
merely done for convenience purposes. 

  

	4.	BASE SERVICE FEE/SUNDRY SERVICE FEE: 

  

	 	A.	Licensee shall pay Licensor the Base Service Fee, plus applicable sales or use taxes, in advance, on the first day of each month to occur during the term of this license. 

 

	 	B.	 In the event that Licensee shall utilize any Sundry Services offered by Licensor, Licensee shall pay the Licensor
within five (5) days after being billed therefore for all Sundry Services associated with the use of such services. The Sundry 

  
 2 

	 	
Services shall be billed at Licensors standard rates as stated on Schedule B annexed hereto and incorporated herein. Fees for such sundry services are invoiced in arrears. The billing cycle for a
la carte fees is classified as the period as a 30-day period between the 16th of the prior month until the 15th of the month being billed, ie. the March invoice will include the a la carte items employed
between January 16th and February 15th. Licensee agrees that sundry service items must be disputed within thirty (30) days or licensee waives their right to dispute such charges. Licensor shall have the right to change its standard rates, from
time to time. Licensee may also be charged for extraordinary electrical usage on a pro rata basis. 

  

	 	C.	All monthly Base Services Fee and Sundry Service Fee and other sums paid hereunder shall be payable at the office of the Licensor or at such other location or to any agent designated in writing by the Licensor. In
addition to any other sums due, Licensee shall pay late charges equal to five (5%) percent of all amounts for Base Services and Sundry Services not paid within five (5) days of their respective due dates. The parties agree that such late
charges are fair and reasonable compensation for costs incurred by Licensor on collecting payments past due hereunder. 

  

	 	D.	Upon Licensee giving a notice of termination pursuant to paragraph 3 above, the Base Services Fee for the next month of the license term shall be due and payable simultaneously with the giving of the termination notice.

  

	5.	OPERATING COVENANT: 

 Licensee is hereby granted a license to use the Unit within the
Premises on an exclusive basis and shall have access thereto twenty-four (24) hours a day, seven (7) days a week. Licensor shall provide office cleaning services, heating and air-conditioning to the
Premises, Monday through Friday, 9:00 am to 6:00 pm, except on public holidays. In addition, Licensee will have use of the common area of the Premises facilities on a non-exclusive basis in accordance with the
rules and regulations promulgated with respect thereto. It is understood and agreed that the Licensee shall use the office and common area of the Premises solely for general office use in the conduct of the Licensees business and for no other
purpose. Licensee agrees not to engage in any conduct or to allow or permit any of its employees, invitees, visitors or guests to engage in any conduct, which may disturb or annoy any other occupants at the Location or which, in the opinion of
Licensor, is objectionable or undesirable. 
 IN THE ABSENCE OF WILLFUL MISCONDUCT, THE LICENSEE EXPRESSLY AGREES TO WAIVE, AND AGREES NOT
TO MAKE ANY CLAIM FOR DAMAGES, DIRECT OR CONSEQUENTIAL, ARISING OUT OF ANY FAILURE TO FURNISH ANY UTILITY, SERVICE OR FACILITY, ANY ERROR OR OMISSION WITH RESPECT THERETO, OR ANY DELAY OR INTERRUPTION OF THE SAME. 

 

	6.	DEFAULT: 

  

	 	A.	 In the event that Licensee shall default in the performance or observance of any of

  
 3 

	 	
the terms or conditions of this License Agreement, including the Rules and Regulations annexed, which Licensee fails to cure by the due date (including payment for Base Services or Sundry
Services or twenty-four hours in the event of a default under Paragraph 5 above) after the giving of written notice thereof by Licensor to Licensee, then the License shall be deemed to have terminated at the end of said period and Licensee shall
vacate the Unit on or before the date set forth in such notice as if that date were the date set forth as to be the end and expiration of this License Agreement. 

  

	 	B.	In the event that Licensee shall fail to vacate the Unit on or before the date set forth in Licensors notice given pursuant to Article 6 (A) above, then Licensor, in addition to any other remedies available to it, shall
have the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever and without incurring any liability therefore and without limitation to Licensor in the exercise of any other remedy:

 (1) Licensor may forthwith terminate this Agreement and the license to use any portion of the Premises, and re-enter and take possession of same. 
 (2) Licensor may forthwith take and hold any property of Licensee
as payment, in whole or in part, of Licensees obligations hereunder, and if Licensees default continues, after 10 days deem such property abandoned and dispose of same as Licensor shall determine, or 

(3) Licensor may forthwith accelerate and demand immediate payment of all remaining payments due under the balance of the term of the
Agreement; or 
 (4) Licensor may forthwith discontinue any or all Base Services and/or Sundry Services to Licensee, including but not
limited to, phone and reception service, internet access, fax service, and mail service, use of conference room, etc. and any use of any common facilities by Licensee; or 

(5) Pursue any other remedy now or hereunder available to Licensor. Licensor exercise of any right or remedy shall not prevent it from
exercising any other right or remedy. 
  

	 	C.	Licensee agrees to pay all costs and expenses, including reasonable attorney’s fees, expended or incurred by Licensor in connection with the enforcement of the Agreement, the collection of any sums due hereunder,
any action for declaratory relief in any way related to this Agreement, or the protection or preservation of any rights of Licensor hereunder. In the event Licensee delivers notice of non-renewal to Licensor
but fails to surrender occupancy and holds over possession beyond the expiration date then, at Licensor option, (i) the monthly Base Service Fee due and payable during the holdover period shall be 150 % of the Base Service Fee paid by
Licensee prior to holdover, or (ii) the non-renewal notice from Licensee shall be deemed null and void, and the term renewed. In the event Licensee defaults then any concessions or fees previously waived
shall become immediately due and payable. 

  
 4 

	 	D.	If Licensor shall terminate this license pursuant to the terms of this paragraph 6, Licensee shall remain liable to Licensor for any unpaid Base Service Fee and Sundry Service Fee and all other damages, costs and
expenses incurred by Licensor arising out of Licensees default. 

  

	7.	SECURITY DEPOSIT: 

 Licensee has deposited with Licensor the Security Deposit for the
faithful performance and observance by Licensee of the terms, provisions and conditions of this License Agreement. If Licensee shall default with respect to of any of the terms, provisions or conditions of this License Agreement Licensor may apply
all or a portion of the Security Deposit to the extent required to remedy such default, including applying Security Deposit to pay arrears in Licensee Fees and Sundry changes pursuant to Article four (4) above, in which event, Licensee, within
three (3) days after demand from Licensor, shall deposit with Licensor the amount of Security Deposit so applied. Provided that Licensee shall have complied with the terms and conditions of this License Agreement, Licensor shall return the
balance remaining of the Security Deposit to Licensee after the expiration of the term of this license. In the event any part of the Security Deposit is applied towards payment due Licensor, then Licensee shall, within ten (10) days thereafter,
pay to Licensor the amount necessary to restore such Security Deposit to its original amount. 
 The Security Deposit need not be kept
separate and apart from other funds of Licensor, no interest shall be paid thereon, and it may be used by Licensor to pay for Schedule A and/or Schedule B services requested by Licensee. If Licensee is late in making payment of any amounts due
herein three or more times Licensee shall upon demand deposit an additional month of Total Base Monthly Fee into the Security Deposit. In addition to the Security Deposit, Licensee will upon execution hereof, pay to Licensor the Monthly Base Service
Fee for one (1) month and such other fees and deposits as may be appropriate based upon Licensees needs. 
  

	8.	OVERLEASE: 

 The Licensee and License Agreement are subject to and subordinate to the
terms of the Overlease. 
  

	9.	DAMAGES and INSURANCE: 

 Licensee will not damage or deface the furnishings, walls,
floors or ceilings, or make or suffer to be made any waste, obstruction or unlawful, improper or offensive use of any Unit or any other part of the Premises, or damage any of the equipment located on the Premises. Licensee will not cause damage to
any part of the Licensors Premises or the property of Licensor or others or disturb the quiet enjoyment of any other licensees or occupants of the Premises. Licensor will have the right, at any time and from time to time, to enter any Unit occupied
by Licensee to inspect the same, to make such repairs and alterations Licensor reasonably deems necessary, and the cost of any such repair resulting from the act or omission of Licensee shall be reimbursed to Licensor by Licensee upon demand.
Licensor reserves the right to charge reasonable fees for any repairs needed above and beyond normal wear and tear upon the exit of Licensee from the Unit. Licensor shall have the right to show any Unit to prospective Licensees, provided Licensor
will use reasonable efforts not to disrupt Licensees business. 

  
 5 

 Licensor and its respective members, directors, officers, agents, servants and employees shall
not, to the extent permitted by law, except upon the affirmative showing of Licensors gross negligence or willful misconduct, be liable for, and Licensee waives all right to recovery, against such entities and individuals for any damage or claim
with respect to any injury to person or damage to, or loss or destruction of any property of Licensee, its employees, authorized persons and invites due to any act, omission or occurrence in or about the Premises. 

Licensee hereby agrees to indemnify, defend and hold harmless Licensor, its members, officers, directors, employees, agents and
representatives from and against any liability to third parties arising out of any acts occurring on or about the Premises, unless such liability arises out of the negligence of Licensor without Licensee having contributed thereto. Licensee assumes
all risk of loss with or about the Licensees Unit which is number 4006, 4007,4008,4009,4010.4011 and 4012. 
 Licensee expressly assumes
that its use of the phone and high speed internet circuits provided by or through Licensor is at Licensees sole risk and is subject to all applicable local, state, national and international laws and regulations. Licensee acknowledges that the
reliability and performance of phone and internet service or other related services provided by or through Licensor are beyond Licensors control and are not in any way warranted by Licensor. Licensee agrees that the internet is not a secure network
and that third parties may be able to intercept, access, use or corrupt the information Licensee transmits over the internet. Licensee shall adopt whatever security measures (such as encryption) it believes are appropriate to its circumstances.
Licensor is not responsible for invalid destinations, transmissions errors, and corruption or security breaches of Licensee’s data. Licensee agrees that Licensor does not warrant that internet service will be uninterrupted or error free.
Licensee agrees that Licensor has no control over third party networks or web sites that Licensee may access and that delays and disruptions of other network transmissions are completely beyond the control of Licensor. Licensor cannot and does not
guarantee that the internet and/or computer related services which it provides will meet Licensees needs. Licensee agrees to defend, indemnify and hold harmless Licensor from and against all liabilities, cost and expenses, including reasonable
attorneys fees, related to or arising from Licensees use of the phone, internet and related services provided by or through Licensor. 

Licensee acknowledges that it is the Licensees responsibility to maintain insurance to cover the risks set forth in this paragraph and name
Madison Avenue Suites LLC as additional insured. Minimum general liability insurance to be maintained is $1,000,000 per occurrence and $2,000,000 million aggregate. 

In the event Licensee makes a written request for a telephone listing, Licensor shall not be responsible for any errors or omissions in the
telephone directory unless resulting from Licensors gross negligence. 
  

	10.	CREDIT CHECK 

 Blank 

 

	11.	BROKER: 

  
 6 

 Licensee represents that Licensee has dealt with no broker in connection with the licensing of
the Units except for the Broker named in paragraph 1” hereof and shall indemnify licensor for reasonable attorneys fees and any awards if any broker other than, the one named above and claims to have introduced licensee to the premises. 

 

	12.	NOTICES: 

  

	 	A.	Any notice, demand or request permitted or required to be given under this License Agreement may be given or served only if in writing by any of the following means: (a) Personal Delivery; (b) Certified or
Registered Mail (Postage Pre-Paid); or (c) Nationally recognized overnight courier service, addressed in each case as follows: 

 

			
	 If to Licensor:
	  	 Madison Avenue Suites LLC
 369 Lexington Ave

2nd Floor

New York, NY 10017

  

			
	 If to Licensee:
	  	At the address set forth on the first page hereof as Licensees mailing address, or to a specified email address to David Moser, J.D., V.P. Corporate Legal Affairs, dmoser@sellaslife.com or if no such address is
specified, at the Premises.

  

	 	B.	Any notice, demand or request permitted or required under this License Agreement shall be deemed given as follows: 

  

	 	-	Personal delivery shall be deemed given upon delivery. 

	 	-	Certified or registered mail, postage pre-paid shall be deemed given upon deposit in an official depository of the United States Post Office. 

	 	-	Nationally recognized overnight courier service shall be deemed given one day after delivery to said overnight courier service. 

C. Licensor will use the email address and/or mailing address provided by Licensee to send invoices and any other communications from
Licensor. Licensee must ensure an accurate and valid email and mailing address is registered with the Licensor. 
  

	13.	APPLICABLE LAW: 

 This License Agreement and the License granted hereunder shall be
governed by the laws of the State of New York. 
  

	14.	DOCUMENTS INCORPORATED BY REFERENCE: 

 Simultaneously herewith Licensee has signed an
Application for Delivery of Mail through Agent, and hereby acknowledges that such document is deemed part of this License Agreement and is hereby acknowledges that such documents is deemed part of this License Agreement and is hereby incorporated
into this License Agreement by reference. 

  
 7 

	15.	MISCELLANEOUS: 

 It is mutually agreed by and between Licensor and Licensee that the
respective parties hereto shall and hereby do waive trial by jury in any action or proceeding or counterclaim brought by either of the parties hereto against the other (except for personal injury or property damage) or any matters whatsoever arising
out of or in any way connected with this License, or the relationship of Licensor and Licensee, Licensees use of or occupancy of the Unit, and any emergency statutory or any other statutory remedy. It is further mutually agreed that in the event
Licensor commences any summary proceeding for possession of the Unit, Licensee will not interpose any counterclaim of whatsoever nature or description in any such proceeding. 

This is the only Agreement between the parties. No other agreements are effective. All amendments to this Agreement shall be in writing and
signed by all parties. Any other attempted amendment shall be void. The invalidity or unenforceability of any provision hereof shall not affect the remainder hereof. Notwithstanding the foregoing, Licensor reserves the right to modify the terms and
provision of this Agreement upon 30 days written notice to Licensee. If Licensee does not accept the modification it may, within 30 days after receiving notice of the modification, notify Licensor of its intent to terminate the Agreement at the end
of the following month, at which time the Agreement shall terminate as if the term had expired. 
 All waivers must be in writing and signed
by the waving party. Licensor failure to enforce any provision of this Agreement or its acceptance or fees shall not be a waiver and shall not prevent Licensor from enforcing any provision of this Agreement in the future. No receipt of money by
Licensor shall be deemed to waive any default of Licensee or to extend, reinstate or continue the term hereof. 
 Licensee agrees that
during the term of this Agreement and within one (1) year of the termination of this Agreement, neither Licensee nor any of its principals, employees or affiliates will hire directly or as an independent contractor, or refer to another for
employment, or offer an internship, or volunteering position of any kind, to any person who is at that time, or was during the term of this Agreement, an employee of licensor or any of its affiliated companies. In the event of a breach of any
obligation of Licensee contained in this Paragraph, Licensee shall be liable to Licensor for, and shall pay to Licensor, on demand, liquidated damages in the amount equivalent to a one year of salary for each employee with respect to whom such
breach shall occur, it being mutually agreed that the actual damage that would be sustained by licensor as the result of any such breach would be, from the nature of the case, extremely difficult to fix, and that the aforesaid liquidated damage
amount is fair and reasonable. Licensee agrees that neither Licensee nor any of its partners, members, officers, or employees will represent, or otherwise provide legal counsel to, any of Licensor’s current or former employees in any dispute
with, or legal proceeding against, Licensor or any of its affiliates. Furthermore, Licensee must not carry out a business which competes with Licensor’s of providing services office accommodations or virtual offices. Property left by licensee
in the unit after the termination of this agreement, is deemed abandoned and the licensor may dispose of the property as it deems appropriate. There will be a dilapidation charge of $250 per office, which will be added to the final invoice. 

  
 8 

 All Schedules attached hereto are hereby incorporated herein by this reference. All parties
signing this Agreement on behalf of a partnership or co-signing individuals shall be jointly and severally liable for all obligations of Licensee. Copies of this Agreement bearing faxed or emailed signatures
shall be deemed binding. This Agreement shall terminate if Licensor lease for the premises terminates. Licensee shall conduct its business without fraud or deception and will diligently seek to avoid complaints from its customers, law
enforcement/regulatory agencies and the general public. Licensee, its employees and agents are not Specially Designated Nationals, Blocked Persons or others prohibited from doing business by the US Department of Treasury Office of Foreign Assets
Control. Licensee represents and warrants to Licensor that there are no agents, brokers, finders or other parties with whom Licensee has dealt who are or may be entitled to a commission or fee with respect to this Agreement, except as stated herein
above and Licensee shall indemnify Licensor for any award or settlement and reasonable attorney fees for breach of this representation. Licensee may not solicit other Licensees for any business or other purpose without Licensors prior written
approval and shall be liable to Licensor for any damages caused by a breach hereof. 
 Neither Licensee nor anyone claiming by, through or
under Licensee shall assign this Agreement or permit the use of any portion of the Unit by any person other than Licensee; provided, however, Licensee may assign this Agreement to an affiliated entity of Licensee if, in Licensors sole opinion, said
assignment shall not impair in any way upon Licensors ability to receive and collect all payments due hereunder. In the event of any such permitted assignment, Licensee shall not thereby be relieved of any of its obligations under this Agreement.
Licensee acknowledges that it shall be a material breach hereof to disclose the terms of this Agreement to anyone, except as necessary for tax reporting purposes. 

The Rules and Regulations of the Building and of Licensor as defined on Schedule C hereto and any additional schedules that may be attached
hereto are expressly made part of this Agreements and Licensee expressly covenants and agrees to abide by all of such Rules and Regulations and such additional terms, as well as such reasonable modifications to such Rules and Regulations as may be
hereafter adopted by Licensor. Licensee agrees that if the funds necessary to fulfill the terms of this agreement are not received within 24 hours of the signing of this agreement, Licensor has the option to declare this agreement null and void.

 Licensor is to provide the number of serviced office accommodation(s) for which the Licensee has agreed to pay for in the premises listed
above. This agreement lists the unit Licensor has initially allocated for the Licensee’s use. Licensee shall have a non-exclusive right to the unit(s) allocated to it. Occasionally, Licensor may need to
allocate different unit(s) to Licensee, but these accommodation(s) will be of reasonably equivalent size and Licensor will notify Licensee with respect to such different accommodation(s) in advance. 

Licensee authorizes Licensor to sign for and accept delivery of packages and mail on Licensees behalf and Licensee hereby indemnifies Licensor
for doing so. Licensee hereby authorizes Licensor to place incoming faxes, telexes, mail and packages in Licensees office in Licensees absence. Upon termination hereof, it will be Licensees responsibility to notify all parties of Licensees
termination of the use of the above described address, assigned telephone numbers, telex and facsimile numbers. After termination Licensee may choose to begin a virtual office plan with mail forwarding. If Licensee does not elect forwarding service
mail will be returned to sender. 

  
 9 

 
Licensor may assign this Agreement and/or any fees hereunder and Licensee agrees to any such assignee. This Agreement is subordinate to any and all maters which Licensor lease agreement for the
premises is subordinate. 
  

	16.	CONFIDENTIALITY: 

 The terms of this agreement are confidential. Neither Licensor nor
Licensee must disclose them without the other’s consent unless required to do so by law or an official authority. This obligation continues after this agreement ends. 

In witness whereof, the parties have executed this agreement as of the date first written above. 

 

	
	Madison Avenue Suites LLC
	
	 /s/ Juda Srour

	Juda Srour General Manager

 
	
	
	 /s/ David Moser

	        Licensee’s Signature

 
	
	
	 David Moser, V.P. Corporate Legal Affairs

	        Legal Name & Title

 
	
	
	 [*]

	        TIN/SS of Licensee

 SCHEDULE A: BASE SERVICES 

Included In Monthly Fee: 
  

	 	•	 	Luxurious reception area to greet your clients and business associates 

  

	 	•	 	Secure 24/7 access 

  

	 	•	 	Manhattan address 

  

	 	•	 	Receptionist 9 AM to 5 PM 

  

	 	•	 	Daily cleaning throughout the facility 

  
 10 

	 	•	 	Mail handling 

  

	 	•	 	Kitchen facility 

  

	 	•	 	Availability of all business tools 

  

	 	•	 	Central AC and heating 

  

	 	•	 	Ice and water 

  

	 	•	 	Doorman Building 

  

	 	•	 	Luxurious furniture 

  

	 	•	 	Support staff 

 SCHEDULE B: MONTHLY SUNDRY SERVICES 

 

			
	 1. VoIP Phone w/Unlimited U.S. Calling -
	  	$125 (includes handset)
		
	 2. All other Telephone Calls -
	  	 Rates vary by location called
 $95.00 per
unlimited international calling plan

		
	 3. Direct TV -
	  	$35.00 per TV (one time installation Fee of $250 for SD Receiver, and $350 for an HD receiver)
		
	 4. High-Speed Internet Connection-
	  	$75.00 per computer
		
	 5. Scan to Email-
	  	$0.25 per page

  
 11 

			
		
	 6. Photocopies or Prints -
	  	50 B/W free monthly. B/W: 12 cents/page < 200 pages, 10 cents/page > than 200 pages. Color: 60 cents/page < 100, 50 cents/page > than 100 pages.
		
	 7. Community Fax -
	  	$1.00 per page receiving or sending
		
	 8. Additional or Lost keys -
	  	$15.00 each (2 Included)
		
	 9. Additional or Lost Lobby Card -
	  	$35.00 each (2 Included)
		
	 10. Static IP Address -
	  	$35.00 per address
		
	 11. Voicemail to Email -
	  	$10.00 per user
		
	 12. Shipping Services (Fedex or Messenger) -
	  	Discounted Rate + $5 per package
		
	 13. Receptionist Answer & Transfer -
	  	$85.00 (for up to 2 extensions, $25 per additional)
		
	 14. In-room dedicated fax line -
	  	$60.00 per line
		
	 15. Use of Conference Rooms -
	  	 Room A—$100.00 per hour
 Room
B—$75.00 per hour

		
	 16. Desk, chair, or file cabinet -
	  	$50.00 for each item
		
	 17. IT Rack Space -
	  	$50.00 for each item
		
	 18. Admin Services -
	  	$30.00 per hour

 Included in Monthly License Fee 
  

	 	•	 	16 VoIP Phone w/Unlimited U.S. Calling 

  

	 	•	 	16 High-Speed Internet Connections 

  

	 	•	 	16 Desks & Chairs 

  

	 	•	 	16 File Cabinets 

  

	 	•	 	$500 Credit Towards Conference Room Usage 

 SCHEDULE C 

RULES AND REGULATIONS 
 1.
Licensees employees and guest will conduct themselves in a businesslike manner; proper business attire will be worn at all times: the noise level will be kept a level so as not to interfere with or annoy other Licensees and Licensee will abide by
Licensor directives regarding security, keys and other such matters common to all occupants. 
 2. Licensee will not affix anything to the
windows, walls or any other part of the Unit(s) or the Premises or make alterations or additions to the Unit(s) or the Premises without the prior written consent of Licensor. 

  
 12 

 3. Licensee will not prop open any corridor doors, exit doors or door connecting corridors during
or after business hours. 
 4. Licensee can only use public areas with the consent of Licensor and those areas must be kept neat and
attractive at all times. Licensee is solely responsible to pay any charges incurred for freight elevator use, if any. 
 5. All corridors,
halls, elevators and stairways shall not be obstructed by Licensee or used for any purpose other than egress and ingress. 
 6. No
advertisement or identifying signs, other than provided by Licensor, or other notices shall be inscribed, painted, or affixed on any part of the corridors, doors or public areas. 

7. Licensee shall not, without Licensors prior written consent, store or operate in the Unit(s) or the Premises any equipment (except a
personal computer) or large business machine, reproduction equipment, heating equipment, stove, radio, stereo equipment or other mechanical amplification equipment, vending or coin operated machine, refrigerator or coffee equipment, or conduct a
mechanical business therein, do any cooking therein, or use or allow to be used in the Building, oil burning fluids, gasoline, kerosene for heating, warning or lighting. No offensive gases, odors or liquids will be permitted. Licensee shall not
install or use automated computer software unless it is pre-approved by Licensor. 
 8. The
electrical current shall be used for ordinary lighting purposes only unless written permission to do otherwise shall first have been obtained form Licensor at an agreed cost to Licensee. 

9. If Licensee requires any special installation or wiring for electrical use, telephone equipment or otherwise, such wiring shall be done at
Licensee’s expense by the personnel designated by Licensor. 
 10. Licensee may not conduct business in the hallways, reception area or
any other area except in an office or conference room without prior written consent of Licensor. 
 11. Licensee will bring no animals other
than seeing-eye dogs in the company of blind persons into the building. 
 12. Licensee shall not
remove furniture, fixtures or decorative material from the Premises without the written consent of Licensor and such removal shall be under the supervision and regulations of the Premises. 

13. Licensee will not use the Licensees Unit for manufacturing or storage of Merchandise except as such storage may be incidental to general
office purposes. 
 14. Licensee will not occupy or permit any portion of the Licensees Unit to be occupied or used for the manufacture,
sale, gift or use of liquor, narcotic or tobacco in any form. 

  
 13 

 15. Licensee will not use the Unit(s) or the Premises for lodging or sleeping or for any immoral
or illegal purposes. 
 16. No additional locks or bolts of any kind shall be placed upon any of the doors or Windows of the Unit(s) by
Licensee nor shall any changes be made on existing locks or the mechanics thereof. 
 17. Licensee shall, before leaving any property in an
office of the Premises unattended for any extended period of time, close and securely lock all doors and shut off all light and other electrical apparatus. Any damage resulting from failure to do so shall be paid by Licensee. 

18. Canvassing, soliciting and peddling in the Building where the Premises is located are prohibited and Licensee shall not solicit other
Licensees for any business or other purpose without the prior written approval of Licensor. 
 19. All property belonging to Licensee or any
employee, agent or invitee of Licensee shall be at the risk of such person only and Licensor shall not be liable for damages thereto or for theft or misappropriation thereof. 

20. If Licensee does not remove any property belonging to Licensee from the Premises by the end of the term, at the option of Licensor,
Licensee shall be conclusively presumed to have conveyed such property to Licensor under this Agreement as a bill of sale without further payment or credit by Licensor to Licensee and Licensor may remove the same and Licensee shall pay Licensor all
costs of such removal upon demand. 
 21. Unless otherwise authorized by the Building, smoking shall be prohibited at all times in all areas
of the Premises, including public areas, outdoor terrace, conference rooms and offices. 
 22. Licensee shall not receive mail, faxes,
packages or parcels for others, nor shall Licensee receive, distribute, forward or send, in Licensor sole opinion, more than the amount of mail, packages or parcels normally associated with a general office use. 

  
 14 

 23. Wireless internet routers are not permitted in the Licensor’s Business Center. 

24. Licensor shall have no responsibility to Licensee for the violation or non-performance by any
other Licensee of any of the Rules and Regulations. 
 25. Licensee is only allowed to bring his own furniture to premises (desk, chair,
file cabinet) with the permission of licensor. 

  
 15 

 SCHEDULE D – FLOOR PLANS 

3rd Floor Plan 
  

 
 

 

  
 16 

 SCHEDULE D – FLOOR PLANS (continued) 

4th Floor Plan 
  

 
 

 

  
 17 

 

 
 Authorization for Pre-Authorized ACH Debits Agreement

Date:                         
        

I                         
                                        , hereby
authorize Jay Suites to initiate monthly recurring automated clearing house (ACH) debit entries to my account indicated below, and the Financial Institution named below, hereinafter called Bank, to debit the same to such account. The recurring
automatic payments will be for the invoice amount and the invoice will be sent out 5 business days in advance. Your recurring automatic payments will occur on the 1st business day of each month
thereafter through the end of your agreement or until you revoke this authorization in writing. If any payment date falls on a weekend or holiday, the payment will be executed on the next business day. 

If your payment is dishonored or returned unpaid by your Bank, you agree that Jay Suites may charge a return item fee and/or late charge to your Jay Suites
account, to the extent allowed by law and/or your Jay Suites contract. You also acknowledge that your Bank may also impose its own additional fees according to your Deposit Account Agreement with such Bank. The origination of ACH debit entries to
your Checking Account must comply with and will be governed by the provisions of applicable laws and rules of the National Automated Clearing house applicable to the transaction. 

This authorization will remain in full force and effect until Jay Suites has received written notification from you of termination at the address above. You
agree to notify Jay Suites both in writing and via email of any changes in your Checking Account information or termination of this authorization at least 15 days prior to the next billing to afford a reasonable opportunity for Company and Bank time
to act. 
 ** Please attach or scan a voided check. Thank you ** 

Company name:
                                         
                                         
                                       

  
 18 

 BANK
NAME:                                        
                     
 CHECKING ROUTING/ABA
#:                                        
                                         

CHECKING ACCOUNT
#:                                        
                                         
        
  
 
                                         
                
     Signature 

  
 19EX-10.65

Table of Contents

 Exhibit 10.65 

Execution Version 
 [*] = Certain
confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 
 AMENDED AND RESTATED 

EXCLUSIVE LICENSE AGREEMENT 

for MSK’s technology 

WT1 Peptide Vaccine Technology 

Table of Contents

 TABLE OF CONTENTS 

 

					
	PREAMBLE	 	
		
	ARTICLES:	 	
			
	1      	 	 DEFINITIONS
	 	 1

			
	2	 	GRANT	 	4
			
	3	 	SUBLICENSES	 	5
			
	4	 	DILIGENCE	 	5
			
	5	 	PAYMENTS	 	7
			
	6	 	REPORTS AND RECORDS	 	11
			
	7	 	PATENT PROSECUTION: THE LICENSED PATENTS	 	12
			
	8	 	INFRINGEMENT	 	13
			
	9	 	CONFIDENTIALITY	 	14
			
	10	 	INDEMNIFICATION, PRODUCT LIABILITY	 	15
			
	11	 	REPRESENTATIONS, WARRANTIES, COVENANTS AND DISCLAIMERS	 	16
			
	12	 	COMPLIANCE WITH LAW	 	21
			
	13	 	NON-USE OF NAMES	 	22
			
	14	 	PUBLICATION	 	22
			
	15	 	ASSIGNMENT	 	22
			
	16	 	TERMINATION	 	22
			
	17	 	NOTICES AND OTHER COMMUNICATIONS	 	24
			
	18    	 	MISCELLANEOUS PROVISIONS	 	25

			
		
	Exhibit A    	 	Original Patent Rights
		
	Exhibit B    	 	Additional Patent Rights
		
	Schedule 7.1    	 	Patent Expenses
		
	Schedule 11.1(b)    	 	Capitalization
		
	Schedule 11.1(e)    	 	Registration Rights

  
 [*] = Certain confidential information contained in this
document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Table of Contents

 This Amended and Restated Exclusive License Agreement (the “Agreement”)
is effective as of the date of the last signature below (“Effective Date”), and is by and between MEMORIAL SLOAN KETTERING CANCER CENTER
(hereinafter referred to as “MSK”), a New York not-for-profit corporation with principal offices at 1275 York Avenue, New York, NY 10065, and
SELLAS LIFE SCIENCES GROUP LTD. (or its successor/assignee) an exempted limited company incorporated under the laws of Bermuda with offices at O’Hara House, 3
Bermudian Road, Hamilton HM 11, Bermuda, (“Licensee”). MSK and Licensee are sometimes referred to singly as “Party” and collectively as “Parties”. 

WITNESSETH 

WHEREAS, Licensee and MSK are parties to that certain exclusive license agreement for MSK’s WT1
peptide vaccine technology effective as of September 4, 2014 (the “Original License Agreement”), which was amended by that certain License Amendment, Waiver and Share Issuance Agreement dated as of October 30, 2015
(the “First Amendment”), amended again by that certain Second License Amendment, Waiver and Agreement dated as of August 10, 2016 (the “Second Amendment”), and amended and restated by that certain
Amended and Restated Exclusive License Agreement dated as of May 25, 2017 (the “First A&R Agreement” and together with the First Amendment and Second Amendment, the “Amendments”,
and the Original License Agreement together with the Amendments, the “Original Agreement”). 

WHEREAS, Licensee and MSK desire to modify certain timelines and payment obligations and add clarifying
language with respect to the initiation of certain development activities; 
 WHEREAS, the Parties
desire to amend and restate the Original Agreement to include such modified terms and conditions and clarifying language. 

NOW, THEREFORE, in consideration of the premises and the mutual covenants contained
herein, the Parties hereto agree as follows: 
 ARTICLE 1 

DEFINITIONS 

For the purpose of this Agreement, the following words and phrases shall have the following meanings: 

1.1 “Additional Patent Rights” means: 

(a) The U.S. and non-U.S. patents and patent applications listed in Exhibit B; 

(b) U.S. and non-U.S. patents that issue from or claim priority to any patent or patent
application listed in Exhibit B, U.S. and non-U.S. patent applications that claim priority to any patent or patent application in Exhibit B, but not including claims in continuation-in-part applications or patents except to the extent provided in (c) below; 

(c) Claims in continuation-in-part applications or
patents described in (b) above to the extent that such claims are entitled to priority to patents or patent applications listed in Exhibit B; and 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Table of Contents

 (d) Any reissues, re-examinations, or term
extensions of patents described in (a), (b), or (c) above. 
 1.2 “Affiliate” as used herein in either
singular or plural means, with respect to a Party, any corporation, company, partnership, joint venture or other entity, which directly or indirectly: (a) Controls, is Controlled by or is under common Control with the specified entity; or
(b) both (i) owns, is owned by, or is under common ownership with the specified entity, in whole or in part, and (ii) conducts business under a trade identifier of the specified entity, with the authorization of the specified entity.
For purposes of this definition, “Control” of an entity means the direct or indirect ownership or control of at least fifty percent (50%) of the right to direct or cause the direction of the policies and management of such
person or entity, whether by the ownership of stock, by contract or otherwise. In any jurisdiction where fifty percent (50%) control is not permitted by applicable law, the “greater than fifty percent (50%)” threshold shall be deemed
satisfied by the possession of substantially the maximum percentage allowable in such jurisdiction. With regard to MSK, “Affiliate” shall include, without limitation, Sloan-Kettering Institute for Cancer Research and the
Memorial Hospital for Cancer and Allied Diseases. 
 1.3 “Business Day” means any day in which normal
business is conducted, Monday through Friday, and excludes weekends and public holidays in the United States. 
 1.4 “[*]”
means, for purposes of Section [*] only, with respect to [*], to (a) [*], (b) [*], and/or (c) [*]. The term “[*]” in all other provisions of this Agreement shall have the meaning commonly associated therewith in contracts generally. 

1.5 “Confidential Information” means all confidential or proprietary information disclosed by one Party to the
other Party relating to and in the performance of this Agreement, including methods of manufacture or use, formulations, clinical data, test results, and research and development plans, whether in oral, graphic, electronic, or any other media or
form. 
 1.6 “Contract Quarter-Year” means the three month periods ending on March 31, June 30,
September 30 and December 31 of each year. 
 1.7 “Effective Time” means the earliest to occur of
(x) an initial public offering of the Shares, (y) the listing or quotation of the Shares on a public trading market or (z) the effective time of a merger, business combination, reorganization or other similar transaction, pursuant to
which the Shares are exchanged for securities of a publicly-traded company. 
 1.8 “Equity Securities” means
(i) any Shares, (ii) any security convertible into or exercisable or exchangeable for, with or without consideration, into Shares (including any option to purchase such a convertible security), (iii) any security carrying any warrant or
right to subscribe to or purchase any Shares; provided, however that Equity Securities shall not include any (w) Shares issued or issuable pursuant to any rights or agreements, options, restricted stock units, warrants or convertible
securities outstanding as of the date of this Agreement or pursuant to the exercise or vesting of awards granted under the Sellas Stock Incentive Plan #1; (x) Shares issued pursuant to Equity Securities granted or issued after the date of this
Agreement, so long as MSK’s rights were complied with, waived, or were inapplicable to the issuance of such Equity Securities; (y) any Equity Securities issued in connection with any (A) share split, (B) share dividend,
(C) or other recapitalization by Licensee, in each of cases (A) through (C) in which the 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 2 

Table of Contents

 
MSK participates pro rata as a shareholder of Licensee on the same terms as other shareholders of Licensee and (z) any Equity Securities issued in connection with a strategic
transaction related to a license or partnering arrangement. 
 1.9 “Field of Use” means all therapeutic and
diagnostic uses. 
 1.10 “First Commercial Sale” means, on a Licensed Product-by-Licensed Product basis, the first commercial sale by Licensee or any of its Affiliates or Sublicensees to another person or entity. 

1.11 “Licensed Know-How” means tangible and intangible technical
information, materials, inventions, processes, protocols, procedures, formulations, compounds, compositions, devices, methods, formulae, protocols, techniques, algorithms, software, works of authorship, designs, drawings, results, findings, ideas,
concepts, creations, discoveries, developments, techniques, processes, know-how, drawings, designs, specifications, data, content, information, formulas, formulations, algorithms, software, and other
technologies or subject matter of any kind, in each case, that are not generally publicly known, that is [*]. 
 1.12
“Licensed Rights” means the Licensed Know-How and the Patent Rights. 

1.13 “Licensed Product” means: 

(a) any product or material [*], and 

(b) any process [*]. 

1.14 “Net Sales” means the gross price billed or invoiced on sales of Licensed Products by Licensee, its
Affiliates, or Sublicensees, less: 
 (a) Freight expense (actual), including insurance, to the extent it is not charged to or
reimbursed by the customer; 
 (b) Cash discounts actually granted and deducted solely on account of sales of Licensed Products; 

(c) Rebates actually paid to individual or group purchasers of Licensed Products that are solely on account of the purchase of such
Licensed Products; 
 (d) Credits issued for returns of Licensed Products recalled or not accepted by customers; and 

(e) Taxes (including, but not limited to sales, value added, consumption and similar taxes) actually incurred, paid or collected and
remitted to the relevant tax authority for the sale or Licensed Products. 
 [*] 

1.15 “Original Patent Rights” means: 

(a) The U.S. and non-U.S. patents and patent applications listed in Exhibit A; 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 3 

Table of Contents

 (b) U.S. and non-U.S. patents that issue from or
claim priority to any patent or patent application listed in Exhibit A, U.S. and non-U.S. patent applications that claim priority to any patent or patent application in Exhibit A, but not including claims in continuation-in-part applications or patents except to the extent provided in (c) below; 

(c) Claims in continuation-in-part applications or
patents described in (b) above to the extent that such claims are entitled to priority to patents or patent applications listed in Exhibit A; and 

(d) Any reissues, re-examinations, or term extensions of patents described in (a), (b), or
(c) above. 
 1.16 “Patent Rights” means the Original Patent Rights and the Additional Patent Rights.

 1.17 “Royalty Term” means, on a Licensed
Product-by-Licensed Product basis and country-by-country basis, the period from the
Effective Date to the later of: (a) expiration of the last Valid Claim embracing such Licensed Product; (b) expiration of any market exclusivity period granted by law with respect to such Licensed Product; or (c) ten (10) years from
the first commercial sale in such country. 
 1.18 “Royalty Year” means each twelve (12) month period
commencing January 1 and ending December 31 during the term of this Agreement. For the first year of this Agreement, the Royalty Year shall be the period of time between the signing of the Agreement and December 31. 

1.19 “Shares” means the common shares of Licensee having a par value of Ten U.S. Dollars ($10.00) per share.

 1.20 “Sublicensee” means any person or business entity to which Licensee has granted a sublicense of the
Licensed Rights. 
 1.21 “Term” means the term of this Agreement, which will commence on the Effective Date
and expire upon Licensee’s satisfaction of all obligations hereunder following the expiration of the last Royalty Term for any Licensed Product, unless earlier terminated pursuant to the Article 16 of this Agreement. 

1.22 “Territory” means worldwide. 

1.23 “Valid Claim” means an issued and unexpired claim or a pending claim within the Patent Rights, that shall
not have been irretrievably withdrawn, cancelled, or disclaimed, nor been held invalid or unenforceable by a court or other appropriate agency of competent jurisdiction in an unappealable decision. 

ARTICLE 2 
 
GRANT 
 2.1 License Grant. In consideration of Licensee’s satisfaction of all of its obligations hereunder, MSK
hereby grants to Licensee a license to make, use, sell, offer for sale, and import 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 4 

Table of Contents

 
Licensed Products in the Field of Use in the Territory under its Licensed Rights, together with the right to sublicense as provided in Article 3. Such license shall be exclusive as to the
Patent Rights, except as provided in Sections 2.2 and 2.3 below, and nonexclusive as to the Licensed Know-How. 

2.2 Reserved Rights. Notwithstanding anything in this Agreement to the contrary, MSK shall have the right to (i) use the
Patent Rights for research purposes and care of patients of MSK, its Affiliates, its network facilities, and clinical trial sites that are participating with MSK in a multicenter clinical trial, and (ii) permit others at academic, government,
and not-for-profit institutions to use the Patent Rights in the course of research or clinical trials being conducted jointly with MSK. 

2.3 U.S. Government Rights. All rights granted herein are subject to rights of the United States pursuant to 35 U.S.C. §
200 et seq., and implementing regulations and agreements. 
 2.4 No Implied Rights. MSK reserves all rights not expressly
granted in the Agreement. The licenses granted hereunder shall not be construed to confer any rights upon Licensee by implication, estoppel or otherwise, and it is understood that practice of the full scope of the Licensed Rights may not be possible
absent the grant of a license to patents not included in the Licensed Rights. 
 ARTICLE 3 

SUBLICENSES 

3.1 Licensee may grant sublicenses (and may amend sublicenses) [*], Licensee shall provide MSK with a complete, unredacted copy of the
proposed sublicense agreement (or amendment) and any associated agreements between it and sublicensee. Licensee shall also promptly provide MSK with full executed copies of such agreements. All such documents shall be deemed Confidential Information
of Licensee. 
 3.2 Any sublicense shall by its terms bind the Sublicensee to all provisions of this Agreement that by their terms
are capable of performance by a sublicensee, including without limitation the restrictions, limitations, and obligations of [*], and shall provide that [*]. Any breach by a Sublicensee shall be considered a breach by Licensee. 

3.3 Licensee shall promptly provide MSK with a copy of any notice of breach, termination, or the like sent to or received from a
Sublicensee. 
 ARTICLE 4 

DILIGENCE 

4.1 Licensee will secure at least [*] in funding (“Initial Funding”), as evidenced by bank statements or
electronic account statements by [*]. If Licensee has not secured this amount of minimum funding by the date specified above, MSK shall have the right to terminate the Agreement upon [*] business days’ advance written notice, subject to
Licensee’s right to cure any shortfall during said notice period. Licensee will secure financing (either debt or equity) with gross proceeds totaling [*] by [*] (the “First Raise”) and additional gross proceeds totaling
Twenty-Five Million U.S. Dollars ($25,000,000) by December 31, 2018 (the “Second Raise”). If Licensee has not secured either of the First Raise or Second Raise by the applicable dates

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 5 

Table of Contents

 
specified above, MSK shall have the right to terminate the License with [*] business days’ written notice, subject to Licensee’s right to cure any shortfall during said notice period;
provided, however, that if MSK terminates the License as provided herein, Section 5.1(a)(iv) shall become null and void (and no additional Shares as contemplated therein shall be due and owing unless previously issued or accrued
to be issued). 
 4.2 Licensee shall use commercially reasonable best efforts to (i) bring Licensed Products to market through a
thorough, vigorous and diligent program for exploitation of the Licensed Rights, and (ii) continue active, diligent marketing efforts for Licensed Products throughout the Term. 

Without limiting the foregoing, Licensee shall exercise its best efforts to achieve the following milestones: 

Licensee will use commercially reasonable efforts to develop and commercialize Licensed Products. 

Specifically, Licensee will: 

(a) Either: 
 (i)
[*]; or 
 (ii) [*]; 

(the achievement of the milestone described in this Section 4.2(a) the “[*] Milestone Achievement”). 

(b) [*] in exercise of commercially reasonable efforts in [*]. 

(c) [*]. 
 4.3
Licensee shall give MSK written notice and evidence within [*] days of the achievement of each of the above specific diligence obligations. 

4.4 [*] all clinical trials conducted in the United States and sponsored by Licensee during the Term. Licensee shall have access to,
and the right to utilize, all data generated in clinical trials conducted by MSK relating to the Licensed Rights, including without limitation those trials that are ongoing as of the Effective Date. Further, Licensee shall [*] to the extent that
[*]. 
 4.5 Licensee’s current projections of its business plan for the development of the Licensed Rights, including, for
example, estimates of [*] planned for each phase of development of the Licensed Rights for a [*] period, to the extent formed by Licensee, is annexed hereto and made part of this Agreement. Licensee shall provide similar reports to MSK [*] to relay
update and status information on Licensee’s business, research and development progress, including projections of activity anticipated for the next [*]. 

4.6 Licensee shall be solely responsible, at its sole cost and expense, for securing any necessary governmental or regulatory approvals
for development, manufacture, and sale of 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 6 

Table of Contents

 
Licensed Products (“Regulatory Approval”). Licensee shall advise MSK, through information contained in annual reports described in Section 4.5 above, of its
program of development for obtaining said approvals. 
 4.7 If Licensee is the subject of a demand, notice, inquiry, or inspection
report by a governmental authority or certification agency in relation to any Licensed Product that (i) by its terms directs or contemplates, or may reasonably be expected to require or relate to, suspension or cessation of manufacturing, sale,
development, or marketing of Licensed Products efforts, (ii) concerns a recall or potential recall of Licensed Products, (iii) concerns a loss of life or material issue of safety, or (iv) may reasonably be expected to prevent
Licensee’s compliance with its diligence obligations, then Licensee shall provide a copy to MSK without delay and keep MSK reasonably apprised of its response. 

ARTICLE 5 
 
PAYMENTS 
 5.1 For the rights, privileges and licenses granted hereunder and under the Original Agreement, the Parties
acknowledge and agree that: 
 (a) Equity Issuances. 

(i) Original Share Issuance. Pursuant to the Original License Agreement, Licensee issued to MSK Three Hundred
(300) Shares (the “Original Shares”) deemed issued as of September 4, 2014. 
 (ii) First
Amendment Share Issuance. Pursuant to Section 2.2 of the First Amendment, Licensee issued to MSK Two Hundred Forty-Seven (247) Shares. 

(iii) Second Amendment Share Issuance. Pursuant to the Second Amendment and the First Amendment and pursuant to a
conversion of obligations owed by Licensee to MSK, in November 2016, Licensee issued to MSK an aggregate of One Thousand and Three (1,003) Shares, which, for the avoidance of doubt, includes the Shares described in Section 5.1(b)(iii). 

(iv) First A&R Agreement Share Issuance. Pursuant to the First A&R Agreement, Licensee issued to MSK Two Hundred
(200) Shares. 
 (v) Amended and Restated Agreement Share Issuance. In consideration of MSK’s agreement to
modify certain provisions of the Original Agreement in connection with the execution of this Agreement, Licensee agrees to issue to MSK an aggregate of One Thousand Seven Hundred (1,700) Shares, such Shares to be issued and delivered to MSK no later
than thirty (30) days after the Effective Date. Upon issuance to MSK of the One Thousand Seven Hundred Shares pursuant to this Section 5.1(a)(v), MSK will hold [*]% of Licensee’s issued and outstanding Shares on an As Adjusted Basis
(such [*]% on an As Adjusted Basis, the “MSK Percentage”). For purposes of this Agreement, “As Adjusted Basis” means taking into account any Shares issuable upon the conversion and/or exercise of any
securities, warrants, notes or other instruments convertible into or exercisable for Shares, whether or not actually converted or exercised, but excludes (i) outstanding convertible debt securities having an aggregate principal amount of
$5,000,000 and (ii) warrants to acquire Shares 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 7 

Table of Contents

 
that are issuable upon conversion of the $5,000,000 convertible note (which number of Shares will equal 50% of the amount of Shares issued upon conversion of such $5,000,000 note), and
(iii) Shares issued upon exercise or vesting of awards under the Sellas Stock Incentive Plan #1 (under which awards to acquire 289 Shares are currently outstanding and under which an additional 1,645 Shares remain available for future grants
under such plan). 
 (vi) Anti-Dilution Protection; Freely Tradeable. (A) Subject to applicable securities laws,
MSK shall have the right to receive (and Licensee shall so issue and deliver to MSK for no additional consideration), MSK’s pro rata share of all Equity Securities that Licensee may, from time to time, sell and/or issue after the date of this
Agreement through the Effective Time such that MSK holds the MSK Percentage immediately prior to the Effective Time. MSK’s rights pursuant to this Section 5.1(a)(vi)(A) shall expire and be of no further force and effect upon the Effective
Time. (B) Licensee shall use commercially reasonable best efforts, subject to Section 11.4, such that all of the Shares held by MSK (or shares received upon exchange of MSK Shares at the Effective Time) shall be freely tradeable by MSK
from and after the Effective Time. Licensee’s obligation pursuant to this Section 5.1(a)(vi)(B) shall expire and be of no further force and effect at such time as Shares held by MSK (or shares received upon exchange of MSK Shares at the
Effective Time) may be sold absent registration under the Securities Act either pursuant to Rule 144 (or a successor rule) or another available exemption. 

(vii) Additional Share Issuance. Without limitation to any other rights or remedies of MSK under this Agreement (or otherwise),
in the event that Licensee has not secured the Second Raise (including any and all proceeds raised after August 10, 2016) by December 31, 2018, MSK may promptly notify Licensee of its election to take additional Shares in an amount equal
to one and one-half percent (1.5%) of the fully diluted share capital of Licensee as of December 31, 2018 (the “Additional Shares”), and in any event, no later than [*]. If MSK
elects to take the Additional Shares, Licensee agrees to issue and deliver to MSK the Additional Shares on or before February 28, 2019, (such date, the “Additional Delivery Date”); and MSK’s right to terminate this
Agreement pursuant to Section 4.1 shall be [*] immediately following the Additional Delivery Date [*]. 
 (b) Payments
Under the Original Agreement. The Parties acknowledge and agree that: 
 (i) Licensee paid to MSK Five Hundred Thousand
U.S. Dollars ($500,000) in March 2015 pursuant to the Original License Agreement. 
 (ii) Licensee paid to MSK Four Hundred Thousand
U.S. Dollars ($400,000) in May 2015 pursuant to the Original License Agreement. 
 (iii) In lieu of paying MSK Nine Hundred Thousand
U.S. Dollars ($900,000) referred to as “License Fees” in Section 2.1 of the Second Amendment (which License Fees included the Four Hundred Thousand U.S. Dollars ($400,000) payment due within forty-five (45) business days
of the one-year anniversary of the effective date of the Original License Agreement pursuant to the Original License Agreement), in November 2016, Licensee issued to MSK Three Hundred Fourteen
(314) Shares as described in Section 5.1(a)(iii) above. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 8 

Table of Contents

 (iv) In lieu of paying MSK the One Hundred Fifty Thousand U.S. Dollars ($150,000)
milestone payment in Section 5.1(e)(ii) of the First A&R Agreement, in June 2017, Licensee issued to MSK Two Hundred Ninety (290) Shares. 

(c) Running royalties. Licensee shall pay to MSK a royalty in an amount equal to: 

(i) [*] for worldwide annual Net Sales, of up to [*]; 

(ii) [*] for worldwide annual Net Sales in excess of [*]. 

(d) Guaranteed minimum royalties. Licensee shall pay to MSK annual minimum royalty payments, due on December 31st of each year, in the amount of One Hundred Thousand U.S. Dollars ($100,000) per Royalty Year during the Term, commencing in 2015. The minimum royalty payments shall be credited against any running
royalty payments required pursuant to Section 5.1(c) above for the same Royalty Year. For clarity, no annual minimum royalty payments are due or payable as of the Effective Date. 

(e) Milestones. Licensee shall pay to MSK milestone payments as follows upon achievement of the milestone by Licensee, its
Affiliates, and/or Sublicensees: 
 The following milestone payments shall be due [*]: 

(i) One Hundred Fifty Thousand U.S. Dollars ($150,000) by August 31, 2016. (For clarity, the Parties acknowledge and agree that,
as of the Effective Date, this milestone has been fully paid by Licensee); 
 (ii) One Hundred Fifty Thousand U.S. Dollars
($150,000) by June 30, 2017; 
 (iii) Four Hundred Thirty-Seven Thousand Five Hundred U.S. Dollars ($437,500) within sixty
(60) days following the commencement of the Phase 3 mesothelioma clinical trial; 
 (iv) Five Hundred Twelve Thousand Five
Hundred U.S. Dollars ($512,500) within sixty (60) days following the commencement of the Phase 3 Acute Myeloid Leukemia clinical trial. 

[*] 
 (f) Additional
Milestones. Licensee shall pay to MSK milestone payments as follows upon achievement of the milestone by Licensee, its Affiliates, and/or Sublicensees: 

The following milestone payments shall be due [*]. For the purpose of this Section 5.1(f), [*] (for clarity, the following shall be [*]):

 [*] 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 9 

Table of Contents

 (g) Amended and Restated Agreement Payments. In consideration of MSK’s
agreement to modify certain provisions of the Original Agreement in connection with the execution of this Agreement, Licensee agrees to make the following one-time payments to MSK: 

[*] 
 (h) Sublicensing
Income. 
 (i) Licensee shall pay MSK (A) [*] of income received from Sublicensees that is not based on Net Sales, e.g., up-front licensing fees, and other income not calculated as a running royalty on Net Sales, but, for clarity, excluding payments received by Licensee from Sublicensee for (1) reimbursement of costs actually
incurred by Licensee for research services or development activities for a Licensed Product and (2) reimbursement of patent prosecution and maintenance costs actually incurred by Licensee (such income collectively, “Sublicensing
Income”), if such sublicense is entered into prior to [*], (B) [*] of Sublicensing Income if such sublicense is entered into after [*], but before [*], and (C) [*] of Sublicensing Income if such sublicense is entered into after [*];

 (ii) If Licensee receives from any Sublicensee anything of value in lieu of cash payments in fulfillment of payment obligations
of any sublicense agreement, Licensee shall pay MSK its share as required above based on the fair market value of such payment, or if elected by MSK shall divide the consideration if it is reasonably capable of being divided (as for example in the
case of equity). 
 (i) Funding Requirements. Licensee represents and warrants that Licensee secured the Initial Funding and
the First Raise within the time limits set forth in Section 4.1. 
 5.2 Payment Terms. Payments shall be payable
[*] business days after they are due, paid in United States dollars in New York, NY, or at such other place as MSK may reasonably designate consistent with the laws and regulations controlling in any foreign country. If any currency conversion shall
be required in connection with the payment of royalties hereunder, such conversion shall be made by using the exchange rate prevailing at the JP Morgan Chase Bank on the last business day of the Contract Quarter-Year reporting period to which such
royalty payments relate. 
 5.3 Interest. Licensee shall pay to MSK interest on any amounts not paid when due at the rate [*].

 5.4 Tax withholding. Payments shall be made in full, without deduction or withholding for wire transfer fees or currency
exchange fees. The parties will cooperate to prevent or minimize the need for any withholding, and at the request of Licensee, MSK will provide Licensee with documents evidencing its tax status in the United States. Any withholding or other tax that
is required by law to be withheld with respect to payments owed by Licensee shall be deducted by Licensee from such payment prior to remittance, and paid over to the relevant taxing authorities when due. Licensee shall promptly furnish MSK evidence
of any such taxes withheld and of payment thereof, and MSK shall seek to obtain the release of any such withheld amounts from the taxing authority. At MSK’s request, Licensee shall provide MSK with reasonable assistance to release the withheld
amount to MSK. [*] 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 10 

Table of Contents

 5.5 Sponsored Research Agreement. Licensee agrees to provide, under a separate
sponsored research agreement, funding for research in mutually-agreed fields conducted in Dr. David Scheinberg’s laboratory in an amount of at least Two Hundred Thousand U.S. Dollars ($200,000) per year for three (3) years, commencing
in January 2016. Licensee will get a time-limited, free option to obtain a world-wide exclusive license upon commercially reasonable terms for any new inventions or improvements on existing inventions that result from this research. The term of the
option shall be [*] after disclosure of the invention to Licensee by MSK. The Parties agree that as of the Effective Date, Licensee’s payment obligations under this Section 5.5 with respect to 2016 have been fulfilled. 

ARTICLE 6 
 
REPORTS AND RECORDS 
 6.1 Licensee shall keep, and shall require its Affiliates and Sublicensees to keep, full, true and
accurate books of account containing all particulars that may be necessary for the purpose of showing the amounts payable to MSK hereunder. Said books and records shall include, but not be limited to: Invoice registers and original invoices, product
sales analysis reports, accounting general ledgers, sub-license and distributor agreements, price lists, contracts for the sale of Licensed Products, product catalogs and marketing materials, audited financial
statements and/or income tax returns, sales tax returns, inventory and production records and shipping documents. Said books and records shall be maintained for a period of no less than [*] years following the period to which they pertain. Such
records shall include original data files used to prepare the submitted royalty reports. For the term of this Agreement, and [*], MSK or its agents shall have the right upon reasonable written notice to inspect such books and records for the purpose
of verifying Licensee’s royalty statement or compliance in other respects with this Agreement. Such inspections shall be during normal working hours of Licensee. Should such inspection result in the discovery of a discrepancy greater than the
greater of [*], Licensee shall pay the full cost of such audit plus interest as provided for late payments. 
 If the audit determines an
error that is due to a misinterpretation of the license agreement language or if the error results from the application of an incorrect accounting or clerical methodology, MSK and or their agents shall be entitled to correct such errors for the
period of time that the statute of limitations of the governing state allows. Any additional royalties due from the correction of errors from the prior periods will be subject to interest as provided for late payments. 

6.2 Commercialization Reports. 

Licensee, within [*] days of the end of each Contract Quarter-Year, shall deliver to MSK true and accurate reports, giving such particulars of
the business conducted by Licensee and its Sublicensees during the preceding period. 
 The reports shall include at least the following
information, to be itemized per Licensed Product by country of sales origin: 
 (a) Product number 

(b) Units sold 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 11 

Table of Contents

 (c) Unit price 

(d) Extended sales dollars 

(e) Royalty rate 

(f) Extended royalty dollars due 

(g) the portion of Net Sales that was received from Sublicensees; 

(h) country of sale; 

(i) foreign currency conversion rate; and 

(j) any Other Consideration received in the prior quarter. 

6.3 With each such report submitted, Licensee shall pay to MSK the royalties due and payable under this Agreement. If no royalties
shall be due, Licensee shall so report. 
 6.4 Milestone payments shall be reported and paid when due as defined in
Section 5.2. 
 6.5 Licensee shall promptly forward to MSK copies of reports received from Sublicensees. 

ARTICLE 7 
 
PATENT PROSECUTION: THE LICENSED PATENTS 
 7.1 Patent Cost Reimbursement. Licensee shall pay during the term of the
Agreement reasonable out-of-pocket expenses borne by MSK for filing, prosecuting and maintaining the Patent Rights through a patent counsel of MSK’s choice,
reasonably acceptable to Licensee. Licensee shall reimburse MSK for all historic unreimbursed patent costs related to the Additional Patent Rights within [*] business days of the Effective Date. For clarity, the Parties acknowledge and agree that,
as of the Effective Date, the patent expenses set forth in Schedule 7.1 relating to the Original Patent Rights have been fully paid by Licensee. 

7.2 MSK shall diligently prosecute and maintain the Patent Rights in the United States and in such countries as are determined by MSK
and agreed to by Licensee, using counsel of MSK’s choice reasonably acceptable to Licensee. If Licensee does not agree to bear the expense of filing patent applications in any foreign countries in which MSK wishes to obtain patent protection,
then MSK may file and prosecute such applications at its own expense and any license granted hereunder shall exclude such countries. 

7.3 MSK shall provide Licensee with copies of all relevant patent prosecution documentation so that Licensee may be informed and to
give Licensee reasonable opportunity to advise MSK on the continuing prosecution, and Licensee agrees to keep this documentation confidential. Upon written request from Licensee, MSK shall participate in a teleconference or an in-person meeting, during business hours, upon reasonable notice, attended by MSK personnel with decision-making authority to discuss issues related to the prosecution and/or maintenance of the Patent Rights in any
jurisdiction. Any such meeting conducted in person shall take place at the offices of MSK. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 12 

Table of Contents

 7.4 The Parties agree that they share a common legal interest in obtaining valid,
enforceable patents and that Licensee will maintain confidential all information received pursuant to this Article 7. In light of the shared interest of the parties, MSK and Licensee agree to maintain good communication as to all matters related to
the terms and actions governed by this License Agreement and further agree to make reasonable efforts to resolve disagreements or disputes as to any aspect of this License Agreement through discussion among management personnel of each Party. 

7.5 Licensee shall not challenge the validity or enforceability of any claim within the Licensed Patents and shall cause its Affiliates
and Sublicensees to refrain from doing so. In addition to all other rights and remedies available to MSK for any breach of this provision by Licensee, its Affiliates or Sublicensees, in the event that any such challenge is not successful then
Licensee shall reimburse MSK for all costs and expenses, including but limited to attorneys’ fees, incurred by MSK as a result of such challenge. 

ARTICLE 8 
 
INFRINGEMENT 
 8.1 Monitoring. Licensee shall use commercially reasonable efforts to monitor third party infringement
of the Patent Rights in the Field of Use. Licensee shall keep MSK timely informed of any activities by Licensee in regard hereto. 

8.2 Actions. This Section 8.2 sets forth the parties’ right of enforcement and defense in relation to the
Patent Rights. 
 (a) First Right. Licensee shall have the first right, but not the obligation, for the initiation, defense,
and management of any adversarial legal proceeding relating to the Patent Rights in the Field of Use and Territory (including without limitation any declaratory judgment action, patent infringement action or opposition) during the Term, and will be
responsible for all expenses related thereto. MSK shall join in any such action, at Licensee’s request and expense. 
 (b)
Secondary Right. If Licensee does not wish to exercise either of the foregoing rights in (a), Licensee shall provide MSK with written notice that Licensee declines such right, and after receiving such notice, MSK shall have the secondary
right to undertake such infringement action or defend against such challenge. 
 8.3 Cooperation; Settlement. To the extent
either Party conducts any legal proceedings in relation to the enforcement or defense of the Patent Rights in the Field of Use and Territory, it shall keep the other Party reasonably informed of such proceedings. The other Party shall reasonably
cooperate in any such legal proceedings, at the expense of the requesting Party. In any action conducted by MSK, Licensee will join as may be requested by MSK, and in any action conducted by Licensee, Licensee may affect joinder of MSK if MSK is an
indispensable or necessary party under the applicable law. Notwithstanding anything in this Agreement to the contrary, no settlement, consent judgment, or other voluntary final disposition of any action by Licensee that admits the invalidity,
unenforceability, or reduces the scope of the Patent Rights, or impairs the validity, enforceability or scope of the Patent Rights, may be entered into without the prior written consent of MSK in its sole reasonable discretion. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 13 

Table of Contents

 8.4 Costs and Recoveries. All costs of any action by either Party to enforce, or to
defend against a challenge to, the Patent Rights shall be borne by such Party, which shall keep any sums recovered or obtained in connection therewith (whether as damages, reasonable royalties, license fees, or otherwise in judgment or settlement
derived therefrom), except that in the case of actions commenced by Licensee, the excess of such sums over such costs shall be treated as Net Sales subject to MSK’s rights under this Agreement to collect royalties thereon. For the avoidance of
doubt, Licensee may not deduct, from Net Sales any portion of Licensee’s costs or expenses related to any investigation, enforcement, defense, judgment or settlement of any such actions. 

8.5 Third Party Patents. In the event Licensee is sued for patent infringement or, threatened with such suit, Licensee shall
promptly notify MSK. In any such action, Licensee shall be fully responsible for all its costs, including expenses, judgments and settlements. 

ARTICLE 9 
 
CONFIDENTIALITY 
 Each Party agrees that Confidential Information of the other Party disclosed to it or to its employees under this
Agreement shall for [*] years after disclosure: 
 (a) be used only in connection with the legitimate purposes of this Agreement; 

(b) be disclosed only to those who have a need to know it in connection with the Agreement; and 

(c) be safeguarded with the same care normally afforded confidential information in the possession, custody or control of the Party
holding the Confidential Information but no less than reasonable. 
 (d) not be disclosed, divulged or otherwise communicated except
with the express written consent of the disclosing Party. 
 The foregoing shall not apply when, after and to the extent the Confidential
Information disclosed: 
 (i) can be demonstrated to have been in the public domain prior to the date of the disclosure; or 

(ii) enters the public domain through no fault of the receiving Party; or 

(iii) was already known to the receiving Party at the time of disclosure as evidenced by written records in the possession of the
receiving Party prior to such time; or 
 (iv) is subsequently received by the receiving Party in good faith from a third party
without breaching any confidential obligation between the third party and the disclosing party; or 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 14 

Table of Contents

 (v) was independently developed, as established by tangible evidence, by the receiving
Party without reference to information or material provided by the disclosing party; or 
 (vi) is required to be disclosed for
compliance with court orders, statutes or regulations or MSK audits for compliance with such regulatory requirements, provided that prior to any such disclosure to the extent reasonably practicable, the Party from whom disclosure is sought
shall promptly notify the other Party and shall afford such other Party the opportunity to challenge or otherwise lawfully seek limits upon such disclosure of Confidential Information. 

ARTICLE 10 
 
INDEMNIFICATION, PRODUCT LIABILITY 
 10.1 Licensee will indemnify, defend and hold harmless (and cause its Sublicensees to
so indemnify, defend and hold harmless) MSK and its respective trustees, directors, officers, medical and professional staff, employees, students, and agents and their respective successors, heirs, and assigns (each an
“Indemnitee”), against all third party claims and expenses (including legal expenses and reasonable attorney’s fees) arising out of the death of or injury to any person or persons, or out of any damage to property,
against any infringement or misappropriation of intellectual property and against any other claim, proceeding, demand, expense and liability of any kind whatsoever resulting from the production, manufacture, sale, use, lease, consumption, or
advertisement of Licensed Products hereunder or from a breach by Licensee of any of its representations, warranties or obligations under this Agreement, provided, however, that Licensee will not be obligated to indemnify, defend and hold
harmless any Indemnitee against any claim, proceeding, demand, expense, or liability to the extent it arises out of, results from, or is increased by MSK’s gross negligence or willful misconduct. The Indemnitee will promptly give notice to
Licensee of any claims or proceedings which might be covered by this Section 10.1 and Licensee will have the right to defend the same, including selection of counsel and control of the proceedings; provided that Licensee will not,
without the written consent of the Indemnitee, settle or consent to the entry of any judgment with respect to such third party claims (i) that does not release the Indemnitee from all liability with respect to such third party claim, or
(ii) which may materially adversely affect the Indemnitee or under which the Indemnitee would incur any obligation or liability, other than one as to which Licensee has an indemnity obligation hereunder. MSK agrees to cooperate and provide
reasonable assistance to such defense at Licensee’s expense. MSK at all times reserves the right to select and retain counsel of its own at its own expense to defend MSK’s interests. 

10.2 Licensee shall obtain and carry in full force and effect general liability insurance that shall protect Licensee and MSK in regard
to events covered by Section 10.1 above. Such insurance shall be written by a reputable insurance company, shall list MSK as an additional named insured thereunder, shall be endorsed to include liability coverage, and shall require [*]
days written notice to be given to MSK prior to any cancellation or material change thereof. The limits of such insurance shall not be less than [*] per occurrence with an annual aggregate of [*] for personal injury, death or property damage.
Licensee shall provide MSK with Certificates of Insurance evidencing the same and provide MSK with prior written notice of any material change in or cancellation of such insurance. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 15 

Table of Contents

 ARTICLE 11 

REPRESENTATIONS, WARRANTIES, COVENANTS AND DISCLAIMERS 

11.1 Representations and Warranties of Licensee; Certain Covenants of Licensee. Licensee represents, warrants and agrees that:

 (a) Organization, Good Standing and Qualification. Licensee is an exempted limited company incorporated under the
laws of Bermuda. Licensee has all requisite corporate power and authority to own and operate its properties and assets, to execute and deliver this Agreement, and to carry out the provisions of this Agreement and to carry on its business as
presently conducted. Licensee is duly qualified to do business and is in good standing as a foreign corporation in all jurisdictions in which the nature of its activities and of its properties (both owned and leased) makes such qualification
necessary, except for those jurisdictions in which failure to do so would not have a material adverse effect on Licensee or its business. 

(b) Capitalization; Voting Rights. 

(i) Licensee has an authorized share capital of 95,000 Shares at $10.00 per Share, which includes a total of 75,999 Shares
issued as of the Effective Date, which are the sole outstanding Shares of Licensee and all of which have been subscribed and are registered in the name of shareholders as set forth on Schedule 11.1(b)(i) hereto. 

(ii) Other than (A) 14,372 Shares that may be issued upon outstanding convertible term notes with an aggregate principal amount of
Five Million U.S. Dollars ($5,000,000) (the “Convertible Note”), (B) warrants to purchase 7,186 Shares issuable upon exercise of conversion of the Convertible Note (which Warrants will have an exercise price per Share equal to either one
hundred five percent (105%) of the (I) initial public offering price per Share or (II) the 30-day volume weighted average price per share of the listed company’s stock if issued in a merger
following the effective time of such merger, and in each case a 5-year term from the issuance date), (C) Shares that may be issued pursuant to Licensee’s Stock Incentive Plan #1 established effective as
of November 4, 2016, (D) 2,919 Shares that may be issuable in lieu of cash payments to Equilibria Capital Management pursuant to that certain Management and Strategic Collaboration dated effective June 1, 2016, as amended February 7,
2017 and further amended August 2, 2017 and (E) except as may be issued pursuant to this Agreement, there are no outstanding options, warrants, rights (including conversion or preemptive rights and rights of first refusal), proxy or
shareholder agreements, or agreements of any kind for the purchase or acquisition from Licensee of any of its securities. 
 (iii)
Schedule 11.1(b)(iii) hereto sets for certain pro forma information regarding the calculation of the MSK Percentage as of the date of this Agreement. Such Schedule 11.1(b)(iii), to the knowledge of SELLAS, fairly presents the
information set forth therein and does not contain any material misstatement. 
 (c) Authorization; Binding Obligations; No-Conflict. 
 (i) All corporate action on the part of Licensee, its officers, directors and
shareholders necessary for the authorization of this Agreement, the performance of all obligations of Licensee hereunder has been taken. This Agreement, when executed and delivered, will be valid and binding obligation of Licensee enforceable in
accordance with its 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 16 

Table of Contents

 
terms, except (a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application affecting enforcement of creditors’ rights, and
(b) general principles of equity that restrict the availability of equitable remedies. 
 (ii) Consummation of the transactions
contemplated by this Agreement in compliance with the provisions of this Agreement will not result in any material breach of any of the terms, conditions, or provisions of, or constitute a material default under, or result in the creation of any
lien, charge, or encumbrance on, any property or assets of Licensee pursuant to any indenture, mortgage, deed of trust, agreement, corporate charter, bylaws, contract, or other instrument to which Licensee is a party or by which Licensee may be
bound or any law, rule, regulation, qualification, license, order or judgment applicable to Licensee or any of its property. Licensee is not a party to any actions, suits, or proceedings pending or, to Licensee’s knowledge, threatened against
or affecting Licensee, its officers or directors in their capacity as such or its properties in any court or before any governmental or administrative agency, which would reasonably be expected to have a material adverse effect on the transactions
contemplated by this Agreement. Without limiting the generality of the foregoing, Licensee hereby represents and warrants to MSK that as of the Effective Date, to its knowledge, the execution and performance of Licensee’s obligation under this
Agreement does not conflict with, cause a default under, or violate any existing contractual obligation that may be owed by Licensee to any third party. 

(iii) Assuming the accuracy of MSK’s representations and warranties set forth in Section 5 hereof, Shares issued to
MSK pursuant to this Agreement have been or will be, fully authorized and validly issued, fully paid and non-assessable, and issued in compliance with all applicable federal and state securities laws and no
order, license, consent, authorization or approval of, or exemption by, or action by or in respect of, or notice to, or filing or registration with, any governmental body, agency or official is required by or with respect to Licensee in connection
with the execution, delivery and performance by Licensee of this Agreement except (i) for such filings and approvals as have been made or obtained, or (ii) where the failure to obtain any such order, license, consent, authorization,
approval or exemption or give any such notice or make any filing or registration would not have a material and adverse effect on the ability of Licensee to perform its obligations hereunder. 

(d) Licensee Can Protect its Interests. Licensee represents that by reason of its, or of its management’s, business
or financial experience, Licensee has the capacity to protect its own interests in connection with the transactions contemplated in this Agreement. 

(e) Registration Rights and Voting Agreement. Licensee is presently not under any obligation, and has not granted any
rights, to register under the Securities Act of 1933, as amended (the “Securities Act”), any of Licensee’s presently outstanding securities or any of its securities that may hereafter be issued. To Licensee’s
knowledge, no shareholder of Licensee has entered into any agreement with respect to the voting of equity securities of Licensee, except as set forth in Schedule 11.1(e). 

(f) Manufacturing of Licensed Products. Licensee hereby represents, warrants and covenants to MSK that Licensed Products
shall be manufactured in all material respects in accordance with applicable federal, state and local laws, rules and regulations, including, without limitation, in all material respects in accordance with all applicable rules and regulations of the
FDA. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 17 

Table of Contents

 11.2 Representations and Warranties of MSK. As of the Effective Date: 

(a) Requisite Power and Authority. MSK has all necessary power and authority to execute and deliver this Agreement and to
carry out its provisions. All action on MSK’s part required for the lawful execution and delivery of this Agreement has been taken. Upon execution and delivery, this will be a valid and binding obligation of MSK, enforceable in accordance with
its terms, except (a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application affecting enforcement of creditors’ rights and (b) as limited by general principles of equity that
restrict the availability of equitable remedies. 
 (b) No-Conflict.
Consummation of the transactions contemplated by this Agreement in compliance with the provisions of this Agreement will not as of the Effective Date result in any material breach of any of the terms, conditions, or provisions of, or constitute
a material default under, or result in the creation of any lien, charge, or encumbrance on, any property or assets of MSK pursuant to any indenture, mortgage, deed of trust, agreement, corporate charter, bylaws, contract, or other instrument to
which MSK is a party or by which MSK may be bound or any law, rule, regulation, qualification, license, order or judgment applicable to MSK or any of its property. MSK is not as of the Effective Date a party to any actions, suits, or proceedings
pending or, to MSK’s knowledge, threatened against or affecting MSK, its officers or directors in their capacity as such or its properties in any court or before any governmental or administrative agency, which would reasonably be expected to
have a material adverse effect on the transactions contemplated by this Agreement. 
 (c) Investment Representations.
MSK understands that the Shares have not been, and any other Shares it may receive hereunder may not be, registered under the Securities Act. MSK also understands that any Shares have been and are being offered pursuant to an exemption from
registration contained in the Securities Act based in part upon MSK’s representations contained in this Agreement. MSK hereby represents and warrants as follows: 

(i) MSK Bears Economic Risk. MSK has substantial experience in evaluating and investing in securities in companies
similar to Licensee so that it is capable of evaluating the merits and risks of its investment in Licensee and has the capacity to protect its own interests. MSK must bear the economic risk of this investment indefinitely unless the Shares are
registered pursuant to the Securities Act, or an exemption from registration is available. MSK understands that Licensee has no present intention of registering the Shares. MSK also understands that there is no assurance that any exemption from
registration under the Securities Act will be available and that, even if available, such exemption may not allow MSK to transfer all or any portion of its Shares under the circumstances, in the amounts or at the times MSK might propose. 

(ii) Acquisition for Own Account. All Shares acquired by MSK pursuant to this Agreement are for MSK’s own account
for investment only, and not with a view towards their distribution. 
 (iii) MSK Can Protect Its Interest. MSK
represents that by reason of its, or of its management’s, business or financial experience, MSK has the capacity to protect its own interests in connection with the transactions contemplated in this Agreement. Further, MSK is aware of no
publication of any advertisement in connection with the transactions contemplated in the Agreement. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 18 

Table of Contents

 (iv) Accredited Investor. MSK represents that it is an accredited investor
within the meaning of Regulation D under the Securities Act. 
 (v) Licensee Information. MSK has had an opportunity
to discuss Licensee’s business, management and financial affairs with directors, officers and management of Licensee and has had the opportunity to review Licensee’s operations and facilities. MSK has also had the opportunity to ask
questions of and receive answers from, Licensee and its management regarding the terms and conditions of this investment. 
 (vi)
Rule 144. Without limitation to Section 5.1(a)(vi), MSK acknowledges and agrees that its Shares are “restricted securities” as defined in Rule 144 promulgated under the Securities Act as in effect from time to time and must be
held indefinitely unless they are subsequently registered under the Securities Act or an exemption from such registration is available. MSK has been advised or is aware of the provisions of Rule 144, which permits limited resale of shares purchased
in a private placement subject to the satisfaction of certain conditions, which may include, among other things: the resale occurring following the required holding period under Rule 144, the availability of certain current public information about
Licensee, and the number of shares being sold during any three-month period not exceeding specified limitations. 
 (vii)
Residence. The office or offices of MSK in which its investment decision may be made is located at the address or addresses of MSK set forth on the signature page of this Agreement. 

11.3 Rights Covenant. 

(a) Generally. Licensee agrees that MSK shall have [*] rights in respect of its Shares [*]. In the event of [*], MSK shall [*],
and shall [*], and shall [*] or [*] or required by applicable laws and other regulations applicable to such transaction. 
 (b)
Information. Without limiting the generality of the foregoing, for so long as MSK or its affiliates own Shares, Licensee shall deliver or furnish to MSK: 

(i) as soon as practicable, but in any event within [*] days after the end of each fiscal year of Licensee, (i) a balance sheet as
of the end of such year, (ii) statements of income and of cash flows for such year, and (iii) a statement of shareholders’ equity as of the end of such year. All such financial statements shall be unaudited unless and until Licensee
shall provide, for such fiscal year, audited financials to any other equity holders; 
 (ii) as soon as practicable, but in any
event within [*] days after the end of each fiscal year, a statement showing the number of shares of each class and series of capital stock and securities convertible into or exercisable for shares of capital stock outstanding at the end of the
year, the stock issuable upon conversion or exercise of any outstanding securities convertible or exercisable for stock and the exchange ratio or exercise price applicable thereto, and the number of shares of issued stock options and stock options
not yet issued but reserved for issuance, if any, all in sufficient detail as to permit MSK to calculate its percentage equity ownership in Licensee, and certified by the chief financial officer or chief executive officer of Licensee as being true,
complete, and correct; and 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 19 

Table of Contents

 (iii) such other information relating to the financial condition, business, prospects, or
corporate affairs of Licensee as MSK may from time to time reasonably request; provided, however, that Licensee shall not be obligated under this Section 11.3 to provide information (i) that Licensee reasonably determines in
good faith to be a trade secret or confidential information (unless covered by an enforceable confidentiality agreement, in a form acceptable to Licensee) or (ii) the disclosure of which would adversely affect the attorney-client privilege
between Licensee and its counsel. 
 11.4 Market Stand-Off Agreement. Subject
to Section 11.3(a), MSK hereby agrees that MSK shall not sell, dispose of, transfer, make any short sale of, grant any option for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale, any
Shares (or other securities in Licensee) held by MSK (other than those included in the registration) during the period commencing on the date of the final prospectus relating to Licensee’s first underwritten public offering pursuant to an
effective registration statement filed by Licensee with the Securities and Exchange Commission under the Securities Act and ending on the date specified by Licensee and the managing underwriter (such period not to exceed one hundred eighty (l80)
days), or such other period as may be reasonably requested by Licensee or an underwriter to accommodate regulatory restrictions on (1) the publication or other distribution of research reports; and (2) analyst recommendations and opinions,
including, but not limited to, the restrictions contained in FINRA Rule 2711(f)(4) or NYSE Rule 472(f)(4), or any successor provisions or amendments thereto; provided, that, all officers and directors of Licensee are bound by and have entered
into similar agreements and Licensee uses commercially reasonable efforts to obtain a similar agreement from all shareholders individually owning at least one-half of one percent (0.5%) of the Shares
(including without limitation holders with securities convertible or exercisable into Shares). MSK agrees to execute and deliver such other agreements as may be reasonably requested by Licensee or the managing underwriters that are consistent with
the foregoing or that are necessary to give further effect thereto. In addition, if reasonably requested by Licensee or the representative of the underwriters of the registered Shares (or other securities) of Licensee, MSK shall provide, within ten
(10) days of such request, such information as may be reasonably required by Licensee or such representative in connection with the completion of any public offering of Licensee’s securities pursuant to a registration statement filed under
the Securities Act. The obligations described in this Section 11.4 shall not apply to a registration relating solely to employee benefit plans on Forms F-1 or
S-1, or Form F-8 or S-8 or similar forms that may be promulgated in the future, or a registration relating solely to a
transaction on Form F-4 or S-4 or similar forms that may be promulgated in the future. In order to enforce the foregoing covenant, Licensee may impose stop-transfer
instructions with respect to such Shares (or other securities) until the end of such period. MSK agrees that any transferee of any of its Shares or other securities of Licensee held by MSK shall be bound by this Section 11.4. The
underwriters of Licensee’s securities are intended third party beneficiaries of this Section 11.4 and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto. 

11.5 Investor Rights; Co-Sale Agreement. MSK hereby agrees to execute and deliver
and become party to any reasonable and customary investor rights, reasonable and customary co-sale or other reasonably customary agreements for financing transactions similar to

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 20 

Table of Contents

 
the First Raise that may be entered into by and among Licensee and the investors in the First Raise in connection with the First Raise, subject to review and approval by MSK and its counsel, such
approval not to be unreasonably withheld. 
 11.6 Disclaimer of Warranties. 

EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN THIS AGREEMENT, MSK MAKES NO REPRESENTATIONS, NO WARRANTIES, EITHER EXPRESS OR IMPLIED, INCLUDING,
WITHOUT LIMITATION, WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE, MERCHANTABILITY, VALIDITY OF LICENSED RIGHTS, CLAIMS ISSUED OR PENDING OR THAT THE MANUFACTURE, SALE OR USE OF THE LICENSED PRODUCTS WILL NOT INFRINGE ANY PATENT, COPYRIGHT,
TRADEMARK, OR OTHER PROPRIETARY RIGHTS. 
 11.7 Limitation of Damages. 

IN NO EVENT SHALL EITHER PARTY BE LIABLE FOR ANY CONSEQUENTIAL, INDIRECT, SPECIAL, INCIDENTAL, OR PUNITIVE DAMAGES ARISING OUT OF OR IN
CONNECTION WITH THIS AGREEMENT, INCLUDING BUT NOT LIMITED TO LOSS OF ANTICIPATED PROFIT, FROM ITS PERFORMANCE OR NONPERFORMANCE OF ITS OBLIGATIONS UNDER THIS AGREEMENT. 

ARTICLE 12 
 
COMPLIANCE WITH LAW 
 12.1 It is understood that MSK is subject to United States laws and regulations controlling the export
of technical data, computer software, laboratory prototypes and other commodities (including the Arms Export Control Act, as amended and the Export Administration Act of 1979), and that its obligations hereunder are contingent on compliance with
applicable United States export laws and regulations. The transfer of certain technical data and commodities may require a license from the cognizant agency of the United States Government and/or written assurances by Licensee that Licensee shall
not export data or commodities to certain foreign countries without prior approval of such agency. MSK neither represents that a license shall not be required nor that, if required, it shall be issued. 

12.2 Licensee shall in all respects conduct its activities under this Agreement, and shall cause its Affiliates and Sublicensees to
conduct their activities under this Agreement, in full compliance with all controlling laws and regulations. 
 12.3 Licensee shall
to the extent required by law substantially manufacture in the United States any Licensed Product to be sold in the United States. 

12.4 To the extent required by law, or if the failure to mark would reduce the rights of MSK or Licensee to enforce the Patent Rights
against infringers, Licensee shall mark, and shall cause its Affiliates and Sublicensees to mark, any Licensed Products with the appropriate Patent Rights. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 21 

Table of Contents

 ARTICLE 13 

NON-USE OF NAMES 

Neither Party shall use the name of the other Party, nor of any of their employees, nor any adaptation thereof, in any press release,
advertising, promotional or sales literature without prior written consent obtained from the other Party in each case. During and after the term of this Agreement, neither Party shall utilize or register any trademark, service mark, tradename, or
other trade identifier of the other Party, or that contains (in whole or in part) or is confusingly similar to the foregoing, or is a translation of any of the foregoing, without the prior express written consent of the other Party. Notwithstanding
the above, each Party may freely disclose in the ordinary course of business (but not in a press release, except with prior approval) that it has entered into this Agreement. 

ARTICLE 14 
 
PUBLICATION 
 Licensee recognizes and accepts that under MSK’s mission as an academic medical center, MSK and its
investigators must have a meaningful right to publish without Licensee’s approval or editorial control. MSK reserves the right to publish the scientific findings from research related to Licensed Rights and clinical use of Licensed Products. If
any proposed publication (e.g., manuscript, abstract or other public disclosure), contains Confidential Information of Licensee or its Affiliates or Sublicensees, MSK will submit the abstract or manuscript to Licensee at least [*] calendar days
before public disclosure thereof, and Licensee shall have the right to review and comment upon the proposed public disclosure in order to protect such Confidential Information and the patentability of any inventions disclosed therein. Upon
Licensee’s request, public disclosure shall be delayed up to [*] additional calendar days to enable MSK to secure adequate intellectual property protection of any patentable subject matter contained therein that would otherwise be affected by
the publication. 
 ARTICLE 15 

ASSIGNMENT 

Without restricting MSK’s rights to transfer or assign Shares or any rights in respect thereof, no Party may assign or delegate any or
all of its rights or obligations under this Agreement, or transfer this Agreement, without the prior written consent of the other Party, except that (a) either Party shall have the right to assign any of its rights, delegate any of its
obligations, or transfer this Agreement without such consent (i) to an Affiliate or (ii) as part of a merger, or acquisition so long as any successor corporation shall assume all obligations under this Agreement, and (b) MSK may
without consent of Licensee freely assign all or any portion of the payments due under this Agreement to a third party. Any assignment by Licensee shall bind its assignee to all provisions of this Agreement, including without limitation those
concerning dispute resolution (choice of law, choice of forum, and consent to jurisdiction in New York). Any assignment, delegation or transfer by any party without the consent of the other Party shall be void and of no effect. 

ARTICLE 16 
 
TERMINATION 
 16.1 Term. The term of this Agreement is the Term (as defined in Article 1). 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 22 

Table of Contents

 16.2 Bankruptcy or Cessation/Enjoinder of Business. MSK may terminate this
Agreement upon written notice to Licensee if: (a) Licensee becomes insolvent; (b) a petition in bankruptcy is filed against Licensee and is consented to, acquiesced in or remains undismissed for [*] days; (c) Licensee or makes a
general assignment for the benefit of creditors, or a receiver is appointed for Licensee, or Licensee commences a voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to itself or its debts under any
bankruptcy, insolvency or similar law, and Licensee does not return to solvency or such case or other proceeding remains undismissed before the expiration of a [*] day period; (d) Licensee ceases to do business; or (e) if the enactment of
any law, decree, or regulation, or the issuance of any order (including, but not limited to, an injunction), by any governmental authority renders it impracticable or impossible for Licensee to perform any of its obligations hereunder. 

16.3 Nonpayment. If Licensee fails to pay MSK fees, royalties, ongoing patent expenses or other amounts payable hereunder, and
such payments remain past due for more than [*] business days, MSK shall have the right to terminate this Agreement on [*] business days written notice, unless Licensee pays to MSK within the [*] business day notice period, all such past-due fees, royalties and patent expenses, together with any interest due and payable thereon. 

16.4 Criminal Activity. MSK may terminate this Agreement upon immediate written notice to Licensee if Licensee is convicted in a
final judgment of a felony relating to the manufacture, use, or sale of Licensed Products in any jurisdiction where Licensee manufactures, uses or sells Licensed Products. 

16.5 Breach. In addition to any other termination right specified in this Agreement, MSK may terminate this Agreement upon [*]
business days’ written notice to Licensee, if Licensee materially breaches a provision of this Agreement, unless Licensee cures any such breach prior to the expiration of the [*] business day period. 

16.6 Effect on Sublicensees. All sublicenses, and rights of Affiliates and Sublicensees, will terminate as of the effective date
of termination of this Agreement, provided, however, that if at the effective date of termination any Sublicensee is in good standing with regard to its obligations under its sublicense and agrees to assume the applicable obligations of
Licensee hereunder (as if no termination occurred), then, at the request of the Sublicensee, such sublicense shall survive such termination or expiration of this Agreement and be assigned to MSK; provided, in such case the obligations of MSK
to Sublicensee shall not exceed the obligations of MSK to Licensee under this Agreement. 
 16.7 Survival. Upon any expiration
or termination of this Agreement, the following shall survive: 
 (a) any provision expressly indicated to survive; 

(b) any liability which any Party has already incurred to another Party prior to expiration or termination; 

(c) Licensee’s reporting and payment obligations for activities occurring prior to expiration or termination, and MSK’s audit
rights; 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 23 

Table of Contents

 (d) Articles 9, 12, 13, 17, and 18 and Sections 7.5, 10.1, 11.3,
16.6, and 16.7 and; 
 (e) Any and all rights of MSK in respect of or incidental to its ownership of Shares. 

ARTICLE 17 
 
NOTICES AND OTHER COMMUNICATIONS 
 Except for payments (which are subject to Section 5.2), each notice or other communication
pursuant to the Agreement shall be sufficiently made or given when delivered by courier or other means providing proof of delivery to such party at its address below or as it shall designate by written notice given to the other party: 

In the case of MSK: 
 Memorial
Sloan Kettering Cancer Center 
 Office of Technology Development 

 

			
	If by mail:	  	 1275 York Ave., Box 524
 New York, NY 10065

 

	If by courier:	  	 600 Third Avenue, 16th floor
 New York, NY
10016

	  
 Attn: Vice President, Technology Development

Tel: 1-212-639-6181 (not for
notice)
 Fax: 1-212-888-1120 (not
for notice)
  

	With copies to:
	  
 Memorial Sloan Kettering Cancer Center

Office of General Counsel
  

	If by mail:	  	 1275 York Ave.
 New York, NY 10065

 

	 If by courier:
	  	 1275 York Ave.
 New York, NY 10065

	  
 Attn: General Counsel

Tel: 1-212-639-5800 (not for
notice)
 Fax: 1- 212-717-3517 (not
for notice)
  

	In the case of Licensee:
	  
 SELLAS Life Sciences Group Ltd.

O’Hara House
 3 Bermudian Road

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 24 

Table of Contents

 Hamilton HM 11, Bermuda 

Attn.: Director, Legal Affairs 

Tel: +1 813 864 2571 (not for notice) 

E-mail: dmoser@sellaslife.com 

With copies to (which shall not constitute notice): 

Yvan-Claude Pierre 
 Cooley LLP

 1114 Avenue of the Americas 

New York, NY 10036-7798 
 Tel: +1
212 479 6721 (not for notice) 
 Fax: +1 212 479 6275 (not for notice) 

E-mail: ypierre@cooley.com 

ARTICLE 18 
 
MISCELLANEOUS PROVISIONS 
 18.1 Governing Law. This Agreement shall be governed by and construed under the laws of
the State of New York in all respects as such laws are applied to agreements among New York residents entered into and performed entirely within New York, without giving effect to conflict of law principles thereof. The Parties agree that any action
brought by either Party under or in relation to this Agreement, including without limitation to interpret or enforce any provision of this Agreement, shall be brought in, and each Party agrees to and does hereby submit to the jurisdiction and venue
of, any state or federal court sitting in The City of New York, Borough of Manhattan, for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein. 

18.2 Successors and Assigns. This Agreement will inure to the benefit of the Parties and their respective successors and
permitted assigns. 
 18.3 Severability. In the event that any provision(s) of this Agreement is(are) held to be invalid,
illegal or unenforceable under any controlling body of the law, such invalidity, illegality, or unenforceability shall not in any way affect the validity, legality, or enforceability of the remaining provisions. The Parties will in such an instance
use their best efforts to replace the invalid, illegal, or unenforceable provision(s) with valid, legal, and enforceable provision(s) that implement the purposes of this Agreement. 

18.4 Waiver. The failure of either Party to assert a right hereunder or to insist upon compliance with any term or condition of
this Agreement shall not constitute a waiver of that right or excuse a similar subsequent failure to perform any such term or condition by the other Party. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 25 

Table of Contents

 18.5 Delays or Omissions. It is agreed that no delay or omission to exercise any
right, power or remedy accruing to any Party, upon any breach, default or noncompliance by another Party under this Agreement shall impair any such right, power or remedy, nor shall it be construed to be a waiver of any such breach, default or
noncompliance, or any acquiescence therein, or of or in any similar breach, default or noncompliance thereafter occurring. It is further agreed that any waiver, permit, consent or approval of any kind or character on any Party’s part of any
breach, default or noncompliance under this Agreement or any waiver on such Party’s part of any provisions or conditions of this Agreement must be in writing and shall be effective only to the extent specifically set forth in such writing. All
remedies, either under this Agreement or otherwise afforded to any Party, shall be cumulative and not alternative. 
 18.6
Counterparts. This Agreement may be executed in any number of counterparts and each of such counterparts shall for all purposes be an original and all such counterparts shall together constitute but one and the same agreement. 

18.7 Force Majeure. Neither Party shall lose any rights hereunder or be liable to the other Party for damages or losses (except
for payment obligations) on account of failure of performance by the defaulting Party to the extent such the failure is occasioned by war, strike, fire, Act of God, earthquake, flood, lockout, embargo, governmental acts or orders or restrictions
(except if imposed due to or resulting from the Party’s violation of law or regulations), failure of suppliers, or any other reason where failure to perform is beyond the reasonable control and not caused by the negligence, intentional conduct
or misconduct of the nonperforming Party and the nonperforming party has exerted all reasonable efforts to avoid or remedy such force majeure; provided, however, that in no event shall a force majeure excuse performance for a period of more
than six (6) months. For clarity, a failure to obtain funding shall not constitute a force majeure event. 
 18.8 Entire
Agreement. This Agreement, including its attachments and exhibits (which attachments and exhibits are incorporated herein by reference), constitutes the entire understanding among and between the Parties with respect to the subject matter
hereof, and supersedes all prior agreements and communications, whether written, oral or otherwise, including, for the avoidance of doubt, that certain side letter agreement entered into by and between the Parties and dated as of May 25, 2017,
which is hereby terminated by the Parties. This Agreement may only be modified or supplemented in a writing expressly stated for such purpose and signed by the parties to this Agreement. It is expressly understood that and agreed that any waivers
included in the Amendments remain in full force and effect. 
 18.9 Relationship between the Parties. The relationship between
the parties under this Agreement is that of independent contractors. Nothing contained in this Agreement shall be construed to create a partnership, joint venture or agency relationship between any of the parties. No Party is a legal representative
of any other Party, and no Party can assume or create any obligation, liability, representation, warranty or guarantee, express or implied, on behalf of another Party for any purpose whatsoever. 

18.10 Attorneys’ Fees. 

(a) In the event that any suit or action is instituted under or in relation to this Agreement, including without limitation to enforce
any provision in this Agreement, the prevailing Party in such dispute shall be entitled to recover from the losing Party all fees, costs 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 26 

Table of Contents

 
and expenses of enforcing any right of such prevailing Party under or with respect to this Agreement, including without limitation, such reasonable fees and expenses of attorneys and accountants,
which shall include, without limitation, all fees, costs and expenses of appeals. 
 (b) [*] 

18.11 Broker’s Fees. Each Party hereto represents and warrants that no agent, broker, investment banker, person or firm
acting on behalf of or under the authority of such Party hereto is or will be entitled to any broker’s or finder’s fee or any other commission directly or indirectly in connection with the transactions contemplated herein. Each Party
hereto further agrees to indemnify the other Party hereto for any claims, losses or expenses resulting from such Party’s breach of the foregoing representation and warranty. 

18.12 Construction and Interpretation. Words (including defined terms) denoting the singular shall include the plural and vice
versa. The words “hereof’, “herein”, “hereunder” and words of the like import when used in this Agreement shall refer to this Agreement as a whole, and not to any particular provision of this Agreement. The term
“include” (and any variant thereof), and the giving of examples, shall not be construed as terms of limitation unless expressly indicated by the context in which they is used. The headings in this Agreement shall not affect its
interpretation. Except as expressly provided herein, the rights and remedies herein provided shall be cumulative and not exclusive of any other rights or remedies provided by law or otherwise. Each of the parties has had an opportunity to consult
with counsel of its choice. Each provision of this Agreement shall be construed without regard to the principle of contra proferentum. If any provision of this Agreement is held to be invalid or unenforceable the validity of the remaining
provisions shall not be affected. The parties shall replace the invalid or unenforceable provision by a valid and enforceable provision closest to the intention of the parties when signing this Agreement This Agreement was negotiated, and shall be
construed and interpreted, exclusively in the English language. 
 {Signature Page Follows} 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 27 

Table of Contents

 IN WITNESS WHEREOF, authorized
representatives of the Parties have signed and dated this Agreement below. 
  

									
	Sellas Life Sciences Group Ltd.	 		 	Memorial Sloan Kettering Cancer Center

									
					
	By:	 	 /s/Angelos Stergiou
	 		 	  By:	 	     /s/ Eric M.
Cottington

									
					
	Name:	 	     Angelos Stergiou
	 		 	      Name:	 	     Eric M. Cottington, PhD.

		 		 		 		 	    Senior Vice President
		 		 		 		 	    Research & Technology
		 		 		 		 	    Management
					
	Date:	 	     Oct. 10, 2017
	 		 	    Date:	 	     October 11, 2017

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Table of Contents

 EXHIBIT A 

Original Patent Rights 
 [*] (2 pages
omitted) 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Table of Contents

 EXHIBIT B 

Additional Patent Rights 
 [*] (1 page
omitted) 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  

Table of Contents

 SCHEDULE 7.1 

Patent Expenses Relating to the Original Patent Rights Paid Pursuant to the Original License Agreement 

[*] (1 page omitted) 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  

Table of Contents

 SCHEDULE 11.1(b) 

CAPITALIZATION 
 [*] (1
page omitted) 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  

Table of Contents

 SCHEDULE 11.1(e) 

REGISTRATION RIGHTS AND VOTING AGREEMENT 

Shareholders’ Agreement dated July 25, 2016 by and among Dr. Angelos M. Stergiou, Dr. Miltiadis Sougioultzoglou, EQC Biotech Sely I
Fund, EQC Biotech Sely II Fund, Sellas Life Sciences Group Ltd. (f/k/a Sellas Life Sciences Group AG) and the Other Shareholders (as defined in such agreement). 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00275-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00275-of-00352.parquet"}]]