Document:

Exhibit
10.7

 

[CERTAIN
INFORMATION IN THIS EXHIBIT IDENTIFIED BY [***] IS CONFIDENTIAL AND HAS BEEN EXCLUDED BECAUSE IT (I) IS NOT MATERIAL AND (II) THE REGISTRANT
CUSTOMARILY AND ACTUALLY TREATS THAT INFORMATION AS PRIVATE OR CONFIDENTIAL.]

 

CLINICAL
TRIAL COLLABORATION AND SUPPLY AGREEMENT

 

This
Clinical Trial Collaboration and Supply Agreement (the “Agreement”)
is made and entered into effective as of the date signed by the last Party to sign below (the “Effective Date”)
by and between Intensity Therapeutics, Inc., having a place of business at 61 Wilton Road, 3rd Floor, Westport, CT
06880 (the “Recipient”) and Bristol-Myers Squibb Company, having a place of business at Route 206 and
Province Line Road, Princeton, New Jersey, USA 08543 (“BMS”). The Recipient and BMS are sometimes individually
referred to in this Agreement as a “Party” and collectively as the “Parties.”

 

PRELIMINARY
STATEMENTS

 

		A.	The
                                            Recipient desires to conduct, and BMS desires to supply the BMS Study Drug (as defined below)
                                            for the conduct of, the Combined Therapy Study (as defined below) in accordance with the
                                            Combined Therapy Protocol (as defined below) therefor and in accordance with the terms of
                                            this Agreement.

 

		B.	The
                                            Parties desire to agree on various terms and conditions to govern the Parties’ obligations
                                            in connection with the performance of the Combined Therapy Study.

 

NOW,
THEREFORE, in consideration of the foregoing premises and the mutual promises and covenants contained herein, the Parties agree as
follows:

 

Article
1

DEFINITIONS

 

The
terms in this Agreement with initial letters capitalized, whether used in the singular or the plural, shall have the meaning set forth
below or, if not listed below, the meaning designated in places throughout this Agreement.

 

“Adverse
Event,” (“AE”) “Serious Adverse Event” (“SAE”) and “Serious
Adverse Drug Reaction” (“SADR”) shall have the meanings provided to such terms in the International Conference
on Harmonisation (“ICH”) guideline for industry on Clinical Safety Data Management (E2A, Definitions and Standards for Expedited
Reporting).

 

“Affiliate”
means, with respect to a particular Party, an entity that, directly or indirectly, through one or more intermediaries, controls, is controlled
by, or is under common control with such Party. As used in this definition, the term “controls” (with correlative meanings
for the terms “controlled by” or “under common control with”) means (a) that an entity owns, directly or
indirectly, more than fifty percent (50%) of the voting stock of another entity, or (b) that an entity, person or group otherwise
has the actual ability to control and direct the management of the entity, whether by contract or otherwise.

 

“Agreement”
shall have the meaning set forth in the preamble to this Agreement, and includes the Appendices attached hereto, the Supply and Quality
Documentation and any and all amendments of any of the foregoing hereafter signed by the Parties with reference to this Agreement and
made part hereof.

 

    

     

    

 

“Applicable
Law” means all applicable laws, rules and regulations (whether federal, state or local) that may be in effect from time
to time, including current Good Clinical Practices (GCP), Good Laboratory Practices (GLP) and Good Manufacturing Practices (GMP).

 

“Arbitration
Matter” means any disputed matter that relates to or arises out of the validity, interpretation or construction of, or
the compliance with or breach of, this Agreement; provided that such disputed matter has been considered, but not resolved, by
the Executive Officers as set forth in Section 13.3. For clarity, no Publication Dispute, no IP Dispute, and no matter requiring
mutual agreement of both Parties shall be an Arbitration Matter.

 

“BMS”
has the meaning set forth in the preamble to this Agreement.

 

“BMS
Indemnitees” shall have the meaning set forth in Section 11.2.

 

“BMS
Independent Patent Rights” means any Patent Rights Controlled by BMS (or its Affiliates): (a) as of the Effective
Date; or (b) during the Term, the subject matter of which was conceived or first reduced to practice through activities other than
those performed pursuant to this Agreement; in each case (clause (a) or (b)), that Cover the use (whether alone or in combination
with other agents), manufacture, formulation or composition of matter of the BMS Study Drug.

 

“BMS
Regulatory Documentation” means any Regulatory Documentation pertaining to the BMS Study Drug as a monotherapy that exists
as of the Effective Date or that is created during the Term through efforts outside of this Agreement.

 

“BMS
Study Data” shall have the meaning set forth in Section 8.2.

 

“BMS
Study Drug” means BMS’s proprietary anti-CTLA-4 monoclonal antibody product known as Yervoy® (ipilimumab).

 

“BMS
Study Invention” means any Invention to the extent specifically and solely relating to the BMS Study Drug (including compositions
of matter or formulations of the BMS Study Drug as a monotherapy and methods of use or manufacture of the BMS Study Drug as a monotherapy)
and not relating to the Recipient FDC or the Combined Therapy.

 

“BMS
Study Patent Rights” means any Patent Rights to the extent claiming any BMS Study Invention (and not claiming a Recipient
Study Invention or Combined Therapy Invention).

 

“BMS
Technology” means all Technology Controlled by BMS (or its Affiliates): (i) as of the Effective Date; or (ii) during
the Term, created through activities other than those performed pursuant to this Agreement; that, in each case (clause (i) and (ii)),
is related to the BMS Study Drug or the Combined Therapy and is necessary for the conduct of the Combined Therapy Study. For clarity,
BMS Technology does not include (a) Inventions, (b) Study Data, or (c) Combined Therapy Study Regulatory Documentation.

 

“Breaching
Party” shall have the meaning set forth in Section 12.2(a).

 

“Business
Day” means a day other than Saturday, Sunday or any day on which commercial banks located in New York, NY are authorized
or obligated by Applicable Law to close.

 

“CDA”
shall have the meaning set forth in Section 9.1.

 

“Clinical
Hold” means that (a) the FDA has issued an order to a Party pursuant to 21 CFR §312.42 to delay a proposed clinical
investigation or to suspend an ongoing clinical investigation of the Combined Therapy or such Party’s Study Drug in the United
States or (b) a Regulatory Authority other than the FDA has issued an equivalent order to that set forth in (a) in any other country
or group of countries.

 

    Page 2 of 42

     

    

 

“Combined
Therapy” means the use of, or a method of using, the Recipient FDC and the BMS Study Drug in combination with or without
another agent, including in concomitant or sequential administration.

 

“Combined
Therapy IND” shall have the meaning set forth in Section 2.1(b).

 

“Combined
Therapy Invention” means any Invention that is not a Recipient Study Invention or a BMS Study Invention.

 

“Combined
Therapy Patent Right(s)” means any Patent Rights that Cover any Combined Therapy Invention or Combined Therapy Study Data,
excluding BMS Independent Patent Rights and Recipient Independent Patent Rights. In addition, a Patent Right containing claims claiming
both (a) a BMS Study Invention and (b) a Recipient Study Invention and/or a Combined Therapy Invention, shall be treated as
a Combined Therapy Patent Right (and not as a BMS Study Patent Right or Recipient Study Patent Right); provided that neither Party shall
file any such Patent Right without the prior written consent of the other Party, which may be given or withheld in the other Party’s
sole discretion.

 

“Combined
Therapy Protocol” means the portion of the Protocol describing the Combined Therapy Study and the specific activities to
be conducted as part of the Combined Therapy Study (as such protocol may be amended from time-to-time in accordance with this Agreement).
The draft of the Combined Therapy Protocol as of the Effective Date is attached as Appendix A hereto

 

“Combined
Therapy Study” means the arm of the Recipient Clinical Trial described in the Combined Therapy Protocol in which the safety,
pharmacokinetics, pharmacodynamics, and preliminary efficacy of the Combined Therapy will be evaluated. For clarity, the Combined Therapy
Study excludes any and all Monotherapy Arm(s) and Other Combination Arm(s) of the Recipient Clinical Trial.

 

“Combined
Therapy Study Data” shall have the meaning set forth in Section 8.2.

 

“Combined
Therapy Study Regulatory Documentation” means any Regulatory Documentation to be submitted for the conduct of the Combined
Therapy Study, but excluding (a) any Recipient Regulatory Documentation and (b) any BMS Regulatory Documentation.

 

“Commercially
Reasonable Efforts” means, [***].

 

“Confidential
Information” shall have the meaning set forth in Section 9.1.

 

“Control”
or “Controlled” means, with respect to particular information or intellectual property, that the applicable
Party owns, or has a license to (other than pursuant to a license granted to such Party pursuant to this Agreement), such information
or intellectual property and has the ability to grant a right, license or sublicense to the other Party as provided for herein without
violating the terms of any agreement or other arrangement with any Third Party.

 

“Cover”
means, with respect to a Patent Right, that, but for rights granted to a Person under such Patent Right, the practice by such Person
of an invention described in such Patent Right would infringe a claim included in such Patent Right, or in the case of a Patent Right
that is a patent application, would infringe a claim in such patent application if it were to issue as a patent. “Covered”
or “Covering” shall have correlative meanings.

 

    Page 3 of 42

     

    

 

“CRO”
means any Third Party contract research organization used to conduct the Combined Therapy Study, including laboratories and Third Parties
used to maintain the safety database from the Combined Therapy Study, but, for clarity, excluding clinical trial sites and any Third
Parties who are individuals.

 

“Cure
Period” shall have the meaning set forth in Section 12.2(a).

 

“Designated
Clinical Contact” shall have the meaning set forth in Section 2.3.

 

“Designated
Supply Contact” shall have the meaning set forth in Section 4.7.

 

“Dispute”
shall have the meaning set forth in Section 13.3(b).

 

“Effective
Date” shall have the meaning set forth in the preamble to this Agreement.

 

“Executive
Officers” means the Chief Executive Officer of the Recipient and the Head of Oncology Development of BMS (or their respective
designees having authority to negotiate the resolution of a Dispute on behalf of the applicable Party).

 

“FDA”
means the United States Food and Drug Administration, or any successor agency having the same or similar authority.

 

“Filing
Party” shall have the meaning set forth in Section 6.1(c).

 

“Global
Safety Database” means the database containing Adverse Events, Serious Adverse Events, Serious Adverse Drug Reactions and
pregnancy reports for the Combined Therapy, and shall be the authoritative data source for regulatory reporting and responding to regulatory
queries with respect to the Combined Therapy Study.

 

“Good
Clinical Practices” or “GCP” means, as to the United States and the European Union, applicable
good clinical practices as in effect in the United States and the European Union, respectively, during the Term and, with respect to
any other jurisdiction, clinical practices equivalent to good clinical practices as then in effect in the United States or the European
Union.

 

“Good
Laboratory Practices” or “GLP” means, as to the United States and the European Union, applicable
good laboratory practices as in effect in the United States and the European Union, respectively, during the Term and, with respect to
any other jurisdiction, laboratory practices equivalent to good laboratory practices as then in effect in the United States or the European
Union.

 

“Good
Manufacturing Practices” or “GMP” means, as to the United States and the European Union, applicable
good manufacturing practices as in effect in the United States and the European Union, respectively, during the Term and, with respect
to any other jurisdiction, manufacturing practices equivalent to good manufacturing practices as then in effect in the United States
or the European Union.

 

“ICF”
shall have the meaning set forth in Section 5.1(f).

 

“IND”
means (a) an Investigational New Drug Application as defined in the United States Food, Drug and Cosmetic Act, as amended, and regulations
promulgated thereunder, or any successor application or procedure required to initiate clinical testing of a drug in humans in the United
States, (b) a counterpart of such an Investigational New Drug Application that is required in any other country before beginning
clinical testing of a drug in humans in such country, including, for clarity, a “Clinical Trial Application”
in the European Union, and (c) all supplements and amendments to any of the foregoing.

 

    Page 4 of 42

     

    

 

“Indemnify”
shall have the meaning set forth in Section 11.1.

 

“Infringe”
and “Infringement” means any actual, alleged or threatened infringement by a Third Party of any Patent Rights.

 

“Invention”
means any invention or discovery, whether or not patentable, that is made, conceived, or first actually reduced to practice by, for or
on behalf of a Party, or by, for or on behalf of the Parties together (including by a Third Party on behalf of a Party or the Parties),
solely in the design or performance of the Combined Therapy Study pursuant to this Agreement; but excluding in each case any Study Data.

 

“IP
Dispute” shall have the meaning set forth in Section 13.3(d).

 

“IRB”
means an Investigational Review Board or Ethics Committee (or similar body in a given country).

 

“Losses”
shall have the meaning set forth in Section 11.1.

 

“Manufacture”
or “Manufacturing” means manufacturing, processing, formulating, packaging, labeling, holding (including
storage), and quality control testing of a Study Drug or the Combined Therapy, in each case so as to be suitable for use in the Combined
Therapy Study under Applicable Law.

 

“Material
Safety Issue” means a Party’s good faith belief that there is an unacceptable risk for harm in humans of conducting
or continuing the Combined Therapy Study based upon: (a) pre-clinical safety data, including data from animal toxicology studies,
or (b) the observation of Serious Adverse Events in humans after the Recipient FDC or the BMS Study Drug, either as a Single Agent
Study Drug or in combination with another pharmaceutical agent (including as the Combined Therapy), has been administered to or taken
by humans, including during the Combined Therapy Study.

 

“Monotherapy
Arm(s)” means only that arm or those arms of the Recipient Clinical Trial in which the Recipient FDC is dosed alone.

 

“NDA”
means (a) any new drug application or biologics license application filed with the FDA, or any successor application or procedure
required to introduce a drug or biologic into commerce in the United States, (b) a counterpart of such a new drug application or
biologics license application that is required in any other country before beginning the commercialization of a drug or a biologic in
humans in such country, and (c) all supplements and amendments to any of the foregoing.

 

“Non-Breaching
Party” shall have the meaning set forth in Section 12.2(a).

 

“Officials”
shall have the meaning set forth in Section 10.9.

 

[***]

 

“Operational
Matters” shall have the meaning set forth in Section 5.1.

 

“Other
Combination Arm(s)” means only that arm or those arms of the Recipient Clinical Trial in which the Recipient FDC is dosed
in combination with any Other Compound, and not in combination with the BMS Study Drug.

 

“Other
Compound” means any compound, molecule, agent or antibody other than the Recipient FDC or the BMS Study Drug, including
(a) any such other compounds which may be evaluated by the Recipient as part of the Recipient Clinical Trial in combination with
the Recipient FDC; and (b) any such other proprietary compounds being developed and/or commercialized by, or in collaboration with
or under license from, BMS or any of its Affiliates.

 

“Party”
or “Parties” shall have the meaning set forth in the preamble to this Agreement.

 

    Page 5 of 42

     

    

 

“Patent
Rights” means any (a) United States or foreign patents, (b) United States or foreign patent applications, including
all provisional applications, substitutions, continuations, continuations-in-part, divisions, renewals, and all patents granted thereon,
(c) United States or foreign patents-of-addition, reissues, reexaminations (including ex parte reexaminations, inter partes
reviews, inter partes reexaminations, post grant reviews and supplemental examinations) and extensions or restorations by
existing or future extension or restoration mechanisms, including supplementary protection certificates, patent term extensions, or the
equivalents thereof, and (d) any other form of government-issued right substantially similar to any of the foregoing.

 

“Payment”
shall have the meaning set forth in Section 10.9.

 

“Person”
means any individual, sole proprietorship, partnership, limited partnership, limited liability partnership, corporation, limited liability
company, business trust, joint stock company, trust, unincorporated association, joint venture or other similar entity or organization,
including a government or political subdivision, department or agency of a government.

 

“Personal
Data” means any information relating to an identified or identifiable natural person.

 

“Pharmacovigilance
Memorandum of Understanding” shall have the meaning set forth in section 2.2.

 

“POTV”
shall have the meaning set forth in Section 9.6(a).

 

“Protocol”
means the written protocol that describes the Recipient Clinical Trial and sets forth specific activities to be performed as part of
the conduct of the Recipient Clinical Trial, as such protocol may be amended from time to time.

 

“Publication
Dispute” shall have the meaning set forth in Section 9.5(a).

 

“Quarter”
means a calendar quarter.

 

“Recipient
Clinical Trial” means the Recipient-sponsored phase 1/2 clinical trial referred to as protocol IT-01, intended to
evaluate the Recipient FDC as a monotherapy, in combination with the BMS Study Drug, and, if applicable, in combination with one or more
Other Compounds; in each case, in adult patients with advanced refractory cancers. For clarity, the Combined Therapy Study will constitute
one arm of the Recipient Clinical Trial.

 

“Recipient
FDC” means the Recipient’s proprietary fixed-dose combination of cisplatin, vinblastine and a proprietary amphiphilic
diffusion enhancer known as INT230-6.

 

“Recipient
Indemnitees” shall have the meaning set forth in Section 11.1.

 

“Recipient
Independent Patent Rights” means any Patent Rights Controlled by the Recipient (or its Affiliates): (a) as of the
Effective Date; or (b) during the Term, the subject matter of which was conceived or first reduced to practice through activities
other than those performed pursuant to this Agreement; in each case (clause (a) or (b)), that Cover the use (whether alone or in
combination with other agents), manufacture, formulation or composition of matter of the Recipient FDC.

 

“Recipient
Regulatory Documentation” means any Regulatory Documentation pertaining to the Recipient FDC as a monotherapy that exists
as of the Effective Date or that is created during the Term through efforts outside this Agreement.

 

“Recipient
Study Data” shall have the meaning set forth in Section 8.2.

 

    Page 6 of 42

     

    

 

“Recipient
Study Invention” means any Invention to the extent specifically and solely relating to the Recipient FDC (including compositions
of matter or formulations of the Recipient FDC as a monotherapy and methods of use or manufacture of the Recipient FDC as a monotherapy)
and not relating to the BMS Study Drug or the Combined Therapy.

 

“Recipient
Study Patent Rights” means any Patent Rights to the extent claiming any Recipient Study Invention (and not claiming a BMS
Study Invention or Combined Therapy Invention).

 

“Recipient
Technology” means all Technology Controlled by the Recipient (or its Affiliates): (i) as of the Effective Date; or
(ii) during the Term, created through activities other than those performed pursuant to this Agreement; that, in each case (clause (i)
and (ii)), is related to the Recipient FDC, dosing techniques or devices for the Recipient FDC, or the Combined Therapy and is necessary
for the conduct of the Combined Therapy Study. For clarity, Recipient Technology does not include (a) Inventions, (b) Study
Data, or (c) Combined Therapy Study Regulatory Documentation.

 

“Regulatory
Approval” means with respect to a country, extra-national territory, province, state, or other regulatory jurisdiction,
any and all approvals, licenses, registrations or authorizations of any Regulatory Authority necessary in order to commercially distribute,
sell, manufacture, import, export or market a product in such country, state, province, or some or all of such extra-national territory
or regulatory jurisdiction.

 

“Regulatory
Authority” means the FDA or any other governmental authority outside the United States (whether supranational, national,
federal, provincial and/or local) that is the counterpart to the FDA, including the European Medicines Agency for the European Union.

 

“Regulatory
Documentation” means, with respect to the Combined Therapy or a Party’s Single Agent Study Drug, all submissions
to Regulatory Authorities in connection with the development of the Combined Therapy or such Single Agent Study Drug, as applicable,
including all INDs and amendments thereto, NDAs and amendments thereto, drug master files, correspondence with regulatory agencies, periodic
safety update reports, adverse event files, complaint files, inspection reports and manufacturing records, in each case together with
all supporting documents (including documents that include clinical data).

 

“Results”
shall have the meaning set forth in Section 9.5(a).

 

“Right
of Cross-Reference” means the “right of reference” defined in 21 CFR 314.3(b), including with regard to a Party,
allowing the applicable Regulatory Authority in a country to have access to relevant information (by cross-reference, incorporation by
reference or otherwise) contained in Regulatory Documentation (and any data contained therein) filed with such Regulatory Authority with
respect to a Party’s Single Agent Study Drug (and, in the case of BMS, the Right to Cross-Reference the Combined Therapy IND to
the extent expressly permitted by this Agreement), only to the extent necessary for the conduct of the Combined Therapy Study in such
country or as otherwise expressly permitted or required under this Agreement to enable a Party to exercise its rights or perform its
obligations hereunder, and, except as to information contained in the Combined Therapy IND pertaining to the Combined Therapy, without
the disclosure of information contained in a Party’s Regulatory Documentation to the other Party.

 

“Safety
Issue” means any information suggesting an emerging safety concern or possible change in the risk-benefit balance for the
BMS Study Drug, including information on a possible causal relationship between an Adverse Event and a drug, the relationship being unknown
or incompletely documented previously.

 

    Page 7 of 42

     

    

 

“Safety
Signal” means information arising from one or multiple sources, including observations and experiments, which suggests
a new potentially causal association, or a new aspect of a known association between an intervention and an event or set of related events,
either adverse or beneficial, that is judged to be of sufficient likelihood to justify verificatory action.

 

“Samples”
means biological specimens collected from Combined Therapy Study subjects (including fresh and/or archived tumor samples, serum, peripheral
blood mononuclear cells, plasma, and whole blood for RNA and DNA sample isolation).

 

“Shortage”
shall have meaning set forth in Section 4.5.

 

“Single
Agent Study Drug” means, with respect to (a) the Recipient, the Recipient FDC, as monotherapy, and (b) BMS, the
BMS Study Drug, as monotherapy.

 

“Sponsor”
means an applicant or holder of clinical studies applications/notifications.

 

“Study
Data” shall have the meaning set forth in Section 8.1.

 

“Study
Drug” means, with respect to (a) the Recipient, the Recipient FDC, and (b) BMS, the BMS Study Drug.

 

“Sunshine
Laws” shall have the meaning set forth in Section 9.6(c).

 

“Supply
and Quality Documentation” shall have the meaning set forth in Section 4.3.

 

“Technology”
means information, inventions, discoveries, trade secrets, knowledge, technology, methods, processes, practices, formulae, instructions,
skills, techniques, procedures, experiences, ideas, technical assistance, designs, drawings, assembly procedures, computer programs,
specifications, data and results not generally known to the public (including biological, chemical, pharmacological, toxicological, pharmaceutical,
physical and analytical, pre-clinical, clinical, safety, manufacturing and quality control data and know-how, including study designs
and protocols), in all cases, whether or not patentable, in written, electronic or any other form now known or hereafter developed and
materials, including Regulatory Documentation.

 

“Term”
shall have the meaning set forth in Section 12.1.

 

“Territory”
means the countries listed in Appendix C. For clarity the Territory excludes [***].

 

“Third
Party” means any Person or entity other than the Recipient and BMS and their respective Affiliates.

 

“Third
Party Claim” shall have the meaning set forth in Section 11.1.

 

“Third
Party License Payments” means any payments (e.g., upfront payments, milestones, royalties) due to any Third Party under
license agreements or other written agreements granting a Party (or its Affiliate) rights to intellectual property owned or controlled
by such Third Party to the extent that such rights are necessary for (a) the making, using or importing of a Party’s Study
Drug for the conduct of the Combined Therapy Study, or (b) the conduct of the Combined Therapy Study.

 

“TP
Study Costs” shall have the meaning set forth in Section 7.2.

 

    Page 8 of 42

     

    

 

Article
2

SCOPE

 

2.1
Scope.

 

(a)
The Recipient will conduct the Combined Therapy Study in accordance with the Protocol and the terms of this Agreement. The Recipient
shall be solely responsible for the content of the Protocol; provided that: (i) the Recipient will notify BMS of any proposed
amendments to the Combined Therapy Protocol attached as Appendix A to this Agreement (or to the final Combined Therapy Protocol
initially approved by an IRB) and the Recipient will consider any comments provided by BMS regarding the proposed amendments, and (ii) any
changes to the draft Combined Therapy Protocol attached as Appendix A (or to such portion of the final Protocol initially approved
by an IRB) that pertain to the administration of the BMS Study Drug must be reviewed and expressly approved by BMS in writing or the
change may not be implemented. BMS shall have [***] Days from the date on which the Recipient provides
the applicable Protocol amendment to BMS to approve or provide any comments to the Recipient concerning the proposed amendment. During
the Term, BMS shall have the right to review and comment on any proposed amendment to the portion of the Protocol relating to the Monotherapy
Arm(s), but Recipient shall have no obligation to implement any change thereto requested by BMS. For clarity, BMS shall have no right
to review any portion of the Protocol relating to any Other Combination Arm.

 

(b)
The Combined Therapy Study shall be conducted under a combination IND, for which the Recipient will be the sponsor of record (the
“Combined Therapy IND”) and shall be conducted only in the Territory. The Recipient shall be the sole holder
of all legal interests in the Combined Therapy IND; provided, however, that the Recipient may not grant any Third Party any Right
of Cross-Reference with respect to any portion of the Combined Therapy IND pertaining to the BMS Study Drug for use as monotherapy or
for use in combination with any Other Compounds.

 

(c)
BMS will make its current package insert for the BMS Study Drug in the Territory available to the Recipient and will provide any
updates thereto at the same time as the same are made publicly available.

 

(d)
BMS (i) will provide the current version of its investigator brochure for the BMS Study Drug to the Recipient promptly following
the Effective Date and (ii) will thereafter, until the conclusion of the Combined Therapy Study, provide to the Recipient, the latest
investigator’s brochure for the BMS Study Drug or any amendments thereto in accordance with BMS’ customary practices for
same. The Recipient shall, and shall require that any clinical trial sites for the Combined Therapy Study shall, use any such data provided
pursuant to this Section 2.1(d) solely (A) to evaluate the safety and efficacy of the BMS Study Drug and the Combined Therapy
for use in Combined Therapy Study, (B) to meet any regulatory requirements pertaining to the conduct of the Combined Therapy Study
and (C) to enable the Recipient to draft and update as necessary the investigator’s brochure for the Recipient FDC. The Recipient
will ensure that clinical trial sites for the Combined Therapy Study are bound by written obligations of confidentiality and non-use
with respect to such information and disclosures substantially similar to those set forth in Article 9. The Recipient’s right
to use the investigator’s brochure provided by BMS shall terminate upon the expiration or termination of the Combined Therapy Study
and shall not be used for purposes of conducting any other clinical studies.

 

(e)
BMS hereby grants, and shall cause its Affiliates to grant, to Recipient and Recipient’s Affiliates a Right of Cross-Reference
to the BMS Regulatory Documentation for those countries in the Territory where the Combined Therapy Study will be conducted solely as
necessary to allow the Combined Therapy Study to be conducted under the Combined Therapy IND in such countries, and shall provide to
Recipient cross-reference letters or similar communications to the applicable Regulatory Authorities in such countries if needed to effectuate
such Right of Cross-Reference; provided that the Right of Cross-Reference granted under this Section 2.1(e) shall terminate
upon the expiration or termination of this Agreement and shall not be used for purposes of conducting any other clinical studies, except
that, in the case of termination for a Material Safety Issue pursuant to Section 12.4, such Right of Cross-Reference shall remain
in effect solely (i) to the extent necessary to permit the Recipient to comply with any outstanding obligations required by a Regulatory
Authority and/or Applicable Law or (ii) as necessary to permit the Recipient to continue to dose subjects enrolled in the Combined
Therapy Study through completion of the Protocol if required by the applicable Regulatory Authority(ies) and/or Applicable Laws.

 

    Page 9 of 42

     

    

 

(f)
The Recipient shall refer to the applicable BMS study identification number in all Combined Therapy Study reports, reports of Serious
Adverse Events, BMS Study Drug requests, and all other material submissions or communications to BMS relating to the Protocol.

 

2.2
Adverse Event Reporting.

 

(a)
  Safety Data Exchange. The Parties shall use diligent efforts to define and finalize the
processes the Parties shall employ to protect patients and promote their well-being in connection with the use of the Combined Therapy,
and to execute a written Pharmacovigilance Memorandum of Understanding within [***] days after the
Effective Date of this Agreement or sooner as practicable and agreed to by the Parties, and prior to the first dosing of the first study
patient in any new clinical trial subject to this Agreement. Such Pharmacovigilance Memorandum of Understanding shall (a) provide that
Recipient shall hold and be responsible for the maintenance of the Global Safety Database for the Recipient FDC and that BMS shall hold
and be responsible for the maintenance of the Global Safety Database for the BMS Compound, (b) provide that the Recipient shall be responsible
for the safety reporting for the Combined Therapy and shall lead all pharmacovigilance activities for the Combined Therapy and (c) include
mutually acceptable guidelines and procedures for the receipt, investigation, recordation, communication, and exchange (as between the
Parties) of adverse event reports, pregnancy reports, and any other information concerning the safety of the Combined Therapy. Such guidelines
and procedures shall be in accordance with, and enable the Parties and their Affiliates to fulfill, local and international regulatory
reporting obligations to government authorities. Furthermore, such agreed procedures shall be consistent with relevant International
Council for Harmonisation (ICH) guidelines, except where said guidelines may conflict with existing local regulatory safety reporting
requirements or Applicable Law, in which case local reporting requirements or Applicable Law shall prevail. In the event of a conflict
between the terms this Agreement and the terms of Pharmacovigilance Memorandum of Understanding, the Pharmacovigilance Memorandum of
Understanding shall supersede to the extent related to pharmacovigilance matters associated with the Combined Therapy Study and the terms
of this Agreement control with respect to any other matters. In the event that this Agreement is terminated, the Parties agree to implement
the necessary procedures and practices to ensure that any outstanding pharmacovigilance reporting obligations are fulfilled.

 

2.3
Clinical Study Designated Contact. Each Party will designate an employee within its organization (the “Designated Clinical
Contact”) who will coordinate and/or facilitate:

 

(a)
the review of Protocol amendments submitted by the Recipient for BMS approval pursuant to Section 2.1(a) and with whom comments
thereon may be discussed;

 

(b)
any BMS clinical and regulatory responsibilities and communications regarding the Combined Therapy Study;

 

(c)
internal BMS review of any document or regulatory communication and the provision of any BMS comments regarding the Combined Therapy
Study; and

 

    Page 10 of 42

     

    

 

(d)
discussion of any other topics or issues relating to the Combined Therapy Study requested by the Recipient or BMS.

 

2.4
Conduct. Each Party shall use Commercially Reasonable Efforts to (a) perform and fulfill its respective activities under the
Combined Therapy Study and this Agreement on a timely basis and in an effective manner consistent with prevailing standards, (b) supply
the quantities of its Study Drug in accordance with Article 4 as needed to conduct the Combined Therapy Study on a timely basis,
and, in the case of the Recipient, package and deliver same to study sites on a timely basis, and (c) in the case of the Recipient,
conduct and complete the Combined Therapy Study on a timely basis in accordance with the Combined Therapy Protocol and Third Party agreements
relating thereto, and provide sufficient resources, funding and personnel to conduct and perform the Combined Therapy Study on a timely
basis in accordance with the Combined Therapy Protocol for same and the terms of this Agreement. Each Party shall perform its duties
for the Combined Therapy Study in accordance with Applicable Law, including GCP, GLP and GMP as applicable.

 

Article
3

LICENSE GRANTS

 

3.1
Grants by BMS.

 

(a)
  BMS hereby grants, and shall cause its Affiliates to grant, to Recipient and Recipient’s
Affiliates a non-exclusive, worldwide (other than within the [***] Territory), non-transferable,
royalty-free license (with the right to sublicense solely pursuant to the terms of and subject to the limitations of Section 3.3)
under the BMS Independent Patent Rights, BMS Technology and BMS Regulatory Documentation, in each case, to use the BMS Study Drug in
research and development, solely to the extent necessary to conduct the Combined Therapy Study in the Territory subject to and in accordance
with the terms and conditions of this Agreement and the Combined Therapy Protocol.

 

(b)
BMS hereby grants, and shall cause its Affiliates to grant, to Recipient and Recipient’s Affiliates a non-exclusive, worldwide
(other than within the [***] Territory), non-transferable, irrevocable, royalty-free license (with
the right to sublicense solely pursuant to the terms of and subject to the limitations of Section 3.3) under the BMS Independent
Patent Rights, BMS Technology and BMS Regulatory Documentation, in each case, solely to seek Regulatory Approval of the Recipient FDC
for use in a Combined Therapy, and, upon any such Regulatory Approval, to market and promote the Recipient FDC solely for use in a Combined
Therapy in any manner that is consistent with the Regulatory Approval for the Recipient FDC; provided, however, that the foregoing
license excludes any license or other right to research, develop, make, have made, use, sell offer for sale, export or import the BMS
Compound or any generic or biosimilar version of the BMS Compound. The right granted under this Section 3.1(b) includes a Right
of Cross-Reference to the relevant BMS Regulatory Documentation solely to the extent necessary and solely for the purpose of obtaining
Regulatory Approval outside the [***] Territory for the Recipient FDC for use in a Combined Therapy
based upon the Combined Therapy Study (which right shall survive any expiration or termination of this Agreement). In such case, BMS
shall reasonably cooperate with Recipient and make written authorizations and other filings with the applicable Regulatory Authority
reasonably required to effect such Right of Cross-Reference. For avoidance of doubt, no rights are granted under this Section 3.1(b)
for the [***] Territory or for any purpose other than use in a Combined Therapy (i.e., use of the
Recipient FDC in combination with the BMS Study Drug), with no rights being granted for the use of any Other Compound in combination
with the BMS Study Drug or any Other Compound in combination with the Recipient FDC.

 

(c)
  BMS hereby grants, and shall cause its Affiliates to grant, to Recipient and Recipient’s
Affiliates a non-exclusive, worldwide (other than within the [***] Territory), non-transferable,
irrevocable, royalty-free license (with the right to sublicense solely pursuant to the terms of and subject to the limitations of Section 3.3)
under the BMS Study Patent Rights to use BMS Study Inventions for all purposes except to research, develop, make, have made, use, sell
offer for sale, export or import the BMS Study Drug or any biosimilar version of the BMS Study Drug (in each case, whether as a monotherapy
or in combination with the Recipient FDC or any Other Compound).

 

    Page 11 of 42

     

    

 

3.2
Grants by Recipient.

 

(a)
Recipient hereby grants, and shall cause its Affiliates to grant, to BMS and BMS’ Affiliates a non-exclusive, worldwide (other
than within the [***] Territory), non-transferable, royalty-free license (with the right to sublicense
solely pursuant to the terms of and subject to the limitations of Section 3.3) under the Recipient Independent Patent Rights, Recipient
Technology and Recipient Regulatory Documentation, in each case, to use the Recipient FDC in research and development, solely to the
extent necessary to conduct the Combined Therapy Study in the Territory subject to and in accordance with the terms and conditions of
this Agreement.

 

(b)
Recipient hereby grants, and shall cause its Affiliates to grant, to BMS and BMS’ Affiliates a non-exclusive, worldwide (other
than within the [***] Territory), non-transferrable, irrevocable, royalty-free license (with the
right to sublicense solely pursuant to the terms of and subject to the limitations of Section 3.3) under the Recipient Independent
Patent Rights, Recipient Technology and Recipient Regulatory Documentation, in each case, solely to seek Regulatory Approval of the BMS
Study Drug for use in a Combined Therapy, and, upon any such Regulatory Approval, to market and promote the BMS Study Drug solely for
use in a Combined Therapy in any manner that is consistent with the Regulatory Approval for the BMS Study Drug; provided, however,
that the foregoing license excludes any license or other right to research, develop, make, have made, use, sell offer for sale, export
or import the Recipient FDC or any generic or biosimilar version of the Recipient FDC. The right granted under this Section 3.2(b)
includes a Right of Cross-Reference to the relevant Recipient Regulatory Documentation solely to the extent necessary and solely for
the purpose of obtaining Regulatory Approval outside the [***] Territory for the BMS Study Drug
for use in a Combined Therapy based upon the Combined Therapy Study (which right shall survive any expiration or termination of this
Agreement). In such case, Recipient shall reasonably cooperate with BMS and make written authorizations and other filings with the applicable
Regulatory Authority reasonably required to effect such Right of Cross-Reference. For avoidance of doubt, no rights are granted under
this Section 3.2(b) for the [***] Territory or for any purpose other than use in a Combined
Therapy (i.e., use of the BMS Study Drug in combination with the Recipient FDC), with no rights being granted for the use of any Other
Compound in combination with the Recipient FDC or any Other Compound in combination with the BMS Study Drug.

 

(c)
Recipient hereby grants, and shall cause its Affiliates to grant, to BMS and BMS’ Affiliates a non-exclusive, worldwide (other
than within the [***] Territory), non-transferable, irrevocable, royalty-free license (with the
right to sublicense solely pursuant to the terms of and subject to the limitations of Section 3.3) under the Recipient Study Patent
Rights to use Recipient Study Inventions for all purposes except to research, develop, make, have made, use, sell offer for sale, export
or import the Recipient FDC or any biosimilar version of the Recipient FDC (in each case, whether as a monotherapy or in combination
with the BMS Study Drug or any Other Compound).

 

3.3
Sublicensing.

 

(a)
Each Party shall have the right to grant sublicenses under the licenses granted to it under Section 3.1(a) and 3.2(a) to Affiliates
and, if required for a Third Party to perform its duties hereunder (to the extent permitted under the terms and conditions of this Agreement),
to Third Parties, solely as necessary to assist a Party in carrying out its responsibilities with respect to the Combined Therapy Study.
Each Party shall have the right to grant sublicenses under the licenses granted to it under Section 3.1(b) and 3.1(c) and Section 3.2(b)
and 3.2(c) to Affiliates and (i) in the case of Recipient, to Recipient’s bona fide collaborators with respect to, or licensees
of, the Recipient FDC and (ii) in the case of BMS, to BMS’s bona fide collaborators with respect to, or licensees of, the
BMS Study Drug. For the avoidance of doubt neither BMS nor any of its Affiliates or sublicensees will have the right to grant [***]
any sublicenses, within the [***] Territory, under the licenses granted to it under Section 3.2.

 

    Page 12 of 42

     

    

 

(b)
With regard to any such sublicenses permitted and made under this Agreement, (i) such sublicensees, except Affiliates (so long
as they remain Affiliates of a Party), shall be subject to written agreements that bind such sublicensees to obligations that are consistent
with a Party’s obligations under this Agreement including, but not limited to, confidentiality and non-use provisions similar to
those set forth in Article 8 and Article 9, and provisions regarding intellectual property that ensure that the Parties will
have the rights provided under this Agreement to any intellectual property relating to their respective Study Drugs and the Combined
Therapy created by such sublicensee, (ii) each Party shall provide written notice to the other of any such sublicense (and obtain
written approval for sublicenses to Third Parties not contemplated by the Combined Therapy Protocol) and (iii) the licensing Party
shall remain liable for all actions of its sublicensees. For clarity, any agreements with Recipient CROs and its other contractor/vendors,
and Site Agreements and CRO Agreements shall comply and be consistent with the terms and conditions of the Agreement.

 

3.4
No Implied Licenses. Except as specifically set forth in this Agreement, neither Party shall acquire any license or other intellectual
property interest, by implication or otherwise, in any intellectual property of the other Party, including Confidential Information disclosed
to it under this Agreement or under any Patent Rights Controlled by the other Party or its Affiliates. Except to the extent expressly
set forth in the licenses granted under Sections 3.1 and 3.2, nothing in this Agreement is intended or shall be construed as granting
either Party any right or license, expressly or impliedly, to make, have made, use, sell, offer for sale, have sold or import the other
Party’s Study Drug.

 

Article
4

MANUFACTURE AND SUPPLY

 

4.1
Recipient Study Drug Manufacture and Supply.

 

(a)
The Recipient shall be responsible, at its sole cost and expense, for manufacturing, packaging and labeling (or having manufactured,
packaged or labeled) GMP-grade quantities of the Recipient FDC, as well as obtaining any other drug (other than the BMS Study Drug provided
by BMS pursuant to Section 4.2) required for the conduct of the Combined Therapy Study, and shall package and label if and as required
by the Combined Therapy Protocol and/or applicable Regulatory Authorities all drugs (including the BMS Study Drug) used in the Combined
Therapy Study, in accordance with applicable specifications as required for the conduct of the Combined Therapy Study. The Recipient
FDC shall be manufactured in accordance with Applicable Law (including GMP) and shall be of similar quality to the Recipient FDC used
by the Recipient for its other clinical trials of the Recipient FDC.

 

(b)
The Recipient shall provide BMS with prompt notice of any Manufacturing and supply issues with respect to the Recipient FDC, or any
defects or manufacturing problems identified with respect to the BMS Study Drug supplied to Recipient, that may adversely impact the
conduct or timelines of the Combined Therapy Study.

 

    Page 13 of 42

     

    

 

4.2
BMS Study Drug.

 

(a)
Manufacture and Supply. BMS shall Manufacture or have Manufactured the BMS Study Drug in reasonable quantities needed, and at the
points in time as agreed to by the Parties, for the Combined Therapy Study, and shall supply such BMS Study Drug as commercially labeled
or unlabeled vials to the Recipient or its designee for use solely in the Combined Therapy Study. The Recipient will at its sole expense,
package and label the BMS Study Drug for use in the Combined Therapy Study to the extent necessary. The cost of Manufacture and supply
(including shipping, taxes and duty, if applicable) of the BMS Study Drug for the Combined Therapy Study shall be borne solely by BMS,
and BMS shall bear the risk of loss for such quantities of BMS Study Drug until delivery of such quantities of BMS Study Drug to the
Recipient or its designee. BMS shall also be responsible for the payment of any Third Party License Payments that may be due based on
the manufacture, supply and use of the BMS Study Drug used in the Combined Therapy Study. The BMS Study Drug shall be manufactured in
accordance with Applicable Law (including GMP) and shall be of similar quality to the BMS Study Drug used by BMS for its other clinical
trials of the BMS Study Drug. BMS shall deliver certificates of analysis, and any other documents specified in the Supply and Quality
Documentation, including such documentation as is necessary to allow the Recipient to compare the BMS Study Drug certificate of analysis
to the BMS Study Drug specifications. Pursuant to the Supply and Quality Documentation, BMS shall be responsible for the regulatory compliance
of the quality of the BMS Study Drug at the time the BMS Study Drug is delivered to the Recipient with the regulatory filings in the
countries in the Territory where the Combined Therapy Study will be performed. Subject to Section 4.4, the Parties shall cooperate
in accordance with Applicable Law to minimize indirect taxes (such as value added tax, sales tax, consumption tax and other similar taxes)
relating to the BMS Study Drug in connection with this Agreement.

 

(b)
Use of BMS Study Drug Supplied by BMS to the Recipient. The Recipient shall use the quantities of BMS Study Drug supplied to it under
this Agreement solely as necessary for, and in accordance with, this Agreement and the Combined Therapy Protocol, and for no other purpose,
including as a reagent or tool to facilitate its internal research efforts, for any commercial purpose, for other clinical or non-clinical
research unrelated to the Combined Therapy Study or for the conduct of any arms of the Recipient Clinical Trial other than the Combined
Therapy Study. Except as may be required or expressly permitted by the Combined Therapy Protocol or the Supply and Quality Documentation,
the Recipient shall not perform, and shall not allow any Third Party to perform, any analytical testing of the quantities of BMS Study
Drug supplied to it under this Agreement. If BMS Study Drug supplied by BMS is lost, damaged, destroyed or becomes unable to comply with
applicable specifications while under the control of the Recipient or any of its (sub)contractors, including common carriers and clinical
study sites contracted by the Recipient, BMS shall not be obligated to replace same, and if BMS does elect to do so, BMS may elect to
charge the Recipient a reasonable replacement cost to replace same.

 

4.3
Supply and Quality Documentation. BMS shall supply the BMS Study Drug to the Recipient in accordance with such supply and quality
addenda or agreement(s) as the Parties may agree (the “Supply and Quality Documentation”). The Parties shall
finalize and execute the Supply and Quality Documentation within [***] days of the Effective Date,
but in no event later than the date on which the first shipment of the BMS Study Drug is supplied for use in the Combined Therapy Study.
The Supply and Quality Documentation shall outline the additional roles and responsibilities relative to the quality of BMS Study Drug
in support of the Combined Therapy Study. It shall include the responsibility for quality elements as well as exchanged GMP documents
and certifications required to release the BMS Study Drug for the Combined Therapy Study. In addition, the Supply and Quality Documentation
shall detail the documentation required for each shipment of BMS Study Drug supplied to the Recipient or its designee for use in the
Combined Therapy Study.

 

    Page 14 of 42

     

    

 

4.4
Supply Forecast. Estimated supply and delivery details will be outlined in the Supply and Quality Documentation and will be updated
by the Parties by mutual agreement (which agreement can be effected by the Parties’ Designated Supply Contacts and without need
for an amendment to this Agreement) based on the actual enrollment. The Recipient will promptly inform BMS of any change in its requirements,
and BMS will endeavor to accommodate any change in the supply quantities requested by the Recipient so long as it does not unduly disrupt
BMS’s ongoing business activities.

 

4.5
Shortages. BMS shall provide Recipient with prompt written notice of any Manufacturing and supply issues with respect to the BMS
Study Drug that may adversely impact the conduct or timelines of the Combined Therapy Study. In the event of a supply interruption or
shortage of BMS Study Drug as determined by BMS pursuant to its internal processes and policies (a “Shortage”),
such that BMS reasonably believes that it will not be able to fulfill its supply obligations under this Agreement, BMS will provide prompt
written notice thereof to the Recipient (including the quantity of BMS Study Drug that BMS reasonably estimates it will be able to supply)
and, upon request, the Parties will promptly discuss such situation (including how the quantities of BMS Study Drug that BMS is able
to supply under this Agreement will be allocated within the Combined Therapy Study). Notwithstanding anything to the contrary contained
herein, in the event of a Shortage of the BMS Study Drug, BMS will have sole discretion, subject to Applicable Law, to determine the
quantity of BMS Study Drug it will be able to supply as a result of such Shortage; provided, however, that BMS shall consider
in good faith the needs of patients who are actively being treated with BMS Study Drug, including Combined Therapy Study patients, in
making such determination. BMS will not be deemed to be in breach of this Agreement for failure to supply any other quantities of BMS
Study Drug hereunder as a result of a Shortage. Any such allocation of the BMS Study Drug in accordance with this Section 4.5 will
be the Recipient’s exclusive remedy with respect to a Shortage.

 

4.6
Customs Valuation. The Recipient will provide BMS in writing with a list of each country in which it proposes to conduct the Combined
Therapy Study prior to execution of any site agreement specific to the Combined Therapy Study for that country. During the conduct of
the Combined Therapy Study, the Recipient will send in writing any changes to the list of participating countries to BMS one month prior
to the end of each Quarter. If no changes are sent to BMS by the Recipient for a particular Quarter, the prior Quarter’s participating
country list will be used as the basis for customs valuation for that Quarter. BMS will provide the Recipient with country-specific customs
valuations initially for the BMS Study Drug prior to initiation of the Combined Therapy Study. The expiration date(s) of the customs
value(s) will be monitored by the Recipient and the Recipient will send a request in writing to BMS to provide updated customs value(s)
and expiration date(s) at least [***] in advance of any customs value expirations. The Recipient
will use the BMS provided values for the import/export process to the listed participating countries and not make any change to such
valuations without BMS’s prior written consent.

 

4.7
Designated Supply Contact. Each Party will designate an individual (the “Designated Supply Contact”) that
a Party may contact to assist with coordinating supplies and facilitating the resolution of any issues or concerns arising in connection
with the supply of the BMS Study Drug for use in the Combined Therapy Study.

 

    Page 15 of 42

     

    

 

 

Article
5

RESPONSIBILITIES

 

5.1
Specific Responsibilities of the Recipient. The Recipient shall, subject to the terms of the Combined Therapy Protocol, applicable
terms and conditions of this Agreement, and any other agreement between the Parties relating to the Combined Therapy Study, manage and
be responsible for the conduct of the Combined Therapy Study, including timelines and contingency planning. In particular, and not in
limitation of the foregoing, the Recipient shall perform (itself and/or through Third Parties, including clinical trial sites, CROs and
investigators) and/or be responsible for the following (items (a) to (p) below), collectively the “Operational Matters”)
with respect to the Combined Therapy Study:

 

(a)
compiling, amending and filing all necessary Combined Therapy Study Regulatory Documentation with Regulatory Authority(ies), maintaining
and acting as the sponsor of record as provided in 21 CFR 312.50 (and applicable comparable ex-US laws) with responsibility, unless otherwise
delegated in accordance with 21 CFR 312.52 (and applicable comparable ex-US laws), for the Combined Therapy Study and making all required
submissions to Regulatory Authorities related thereto on a timely basis;

 

(b)
conducting clinical study start-up activities, and communicating with and obtaining approval from IRBs for the Protocol and other
relevant documents for the Combined Therapy Study as applicable, as well as patient recruitment and retention activities;

 

(c)
listing of the Combined Therapy Study, if it is required to be listed on a public database on www.clinicaltrials.gov or other public
registry in any country in which such Combined Therapy Study is being conducted, all in accordance with Applicable Law and in accordance
with its internal policies relating to clinical trial registration;

 

(d)
providing BMS with reasonable advance notice of meetings or other non-written communications with a Regulatory Authority regarding
matters related to the Combined Therapy or the BMS Study Drug and the opportunity to participate in each such meeting or other non-written
communication, to the extent involving a safety, efficacy or toxicology issue relating to the Combined Therapy or the BMS Study Drug
or any other matter that would reasonably be expected to have an adverse effect on the BMS Study Drug. In such case, the Recipient will
provide BMS with the opportunity to review and provide comments to the Recipient within [***] Days
(or such shorter period as necessary to comply with any submission deadlines imposed by a Regulatory Authority), and, solely if inconsistent
with the Combined Therapy Protocol, approve, all submissions and written correspondence with a Regulatory Authority that relate to the
BMS Study Drug;

 

(e)
provide BMS (i) written notice to the BMS Designated Clinical Contact (via email to the email address designated by BMS) of
meetings or other substantive non-written communications with a Regulatory Authority within [***]
days of such meeting or communication, and if requested by BMS following such notice, a written summary of such meeting or communication
within [***] days of such request, and (ii) copies of any official correspondence to or from
a Regulatory Authority within [***] Days of receipt or provision, in each case of (i) or (ii) to
the extent involving a safety, efficacy or toxicology issue relating to the Combined Therapy or the BMS Study Drug or any other matter
related to the Combined Therapy or Combined Therapy Study that could reasonably be expected to have an adverse effect on the BMS Study
Drug, and copies of all material Combined Therapy Study Regulatory Documentation and correspondence that relates to same within [***]
days of submission to Regulatory Authorities;

 

    Page 16 of 42

     

    

 

(f)
subject to the terms of this Agreement, the selection and payment of, negotiation of the terms of, contracting with, managing and
overseeing compliance of its agreement by and the receipt of contract deliverables from, any CRO or vendor selected by the Recipient
to assist in the performance of the Combined Therapy Study. The Recipient shall determine and approve contract deliverables and manage
contract performance, including executing site contracts, drafting and obtaining IRB approval for site informed consent forms (each an
“ICF”), obtaining signed ICFs, monitoring plans, etc. The Recipient will be responsible for ensuring that all
such contracts and ICFs: (i) do not conflict with the terms of this Agreement, (ii) allow the Recipient to comply with its
obligations to BMS under this Agreement, including to provide BMS with access to and use of Study Data, Samples and other information
and documents required pursuant to this Agreement, (iii) do not contain any provisions or terms which could reasonably be expected to
adversely affect the BMS Technology or BMS Independent Patent Rights (or the enforcement or defense thereof), (iv) retain each of the
Parties’ respective intellectual property rights in the Recipient FDC, BMS Study Drug and Combined Therapy consistent with this
Agreement, (v) do not impose a new obligation, whether direct, indirect, or contingent, upon BMS that is not set forth in this Agreement,
and (vi) comply with Applicable Law;

 

(g)
providing BMS (if requested by BMS) with a copy of the protocol level ICF template for the Combined Therapy Study as well as copies
of each final site template of the Combined Therapy Study’s ICF. The Recipient shall ensure that each ICF does not impose any financial
obligation, liability, damages or other cost upon BMS with respect to any injury (including death) suffered by a Combined Therapy Study
subject whether or not resulting from the administration of the BMS Study Drug or direct a study subject to BMS to seek reimbursement
for any costs or seek compensation for any injury incurred in connection with the Combined Therapy Study;

 

(h)
providing BMS within [***] Days with minutes from any and all external drug safety monitoring
boards for the Combined Therapy Study after receipt by the Recipient, to the extent relating to the BMS Study Drug or the Combined Therapy;

 

(i)
informing and updating BMS on a monthly basis (with significant issues to be communicated promptly after the Recipient becomes aware
of same) regarding new and ongoing Operational Matters, so that if BMS has any significant concerns or material disagreements regarding
same, the matter can be discussed with the Recipient. Without limiting the foregoing, the Recipient shall inform BMS monthly as to the
overall Combined Therapy Study progress, information regarding the number and status of study sites, the number of screened subjects
(actual to target), the number of any randomized subjects (actual to target), and the number of dosed, ongoing, discontinued and completed
subjects, any changes in study timeline, any important safety updates routinely performed by the Recipient in its normal course of trial
management and reporting and/or as contemplated by the Combined Therapy Protocol that are not disclosed by the pharmacovigilance reports,
and as reasonably requested by BMS any other Combined Therapy Study-related matters to the extent involving a safety, efficacy or toxicology
issue relating to the Combined Therapy or the BMS Study Drug or any other matter that could reasonably be expected to have an adverse
effect on the BMS Study Drug;

 

(j)
owning and being responsible for (or appointing a Third Party to be responsible for) the maintenance of the Global Safety Database
and being responsible for safety reporting, collecting, evaluating and reporting Serious Adverse Events, other safety data and any further
pharmacovigilance information from the Combined Therapy Study;

 

(k)
analyzing the Study Data in a timely fashion and providing BMS with access to the Study Data as follows:

 

(i)
top line data and a copy of all Clinical Study Reports (CSRs), in each case, as and when received by the Recipient’s clinical
management;

 

(ii)
if requested by BMS, sharing with BMS for review and comment drafts of interim and/or final clinical trial report (and/or statistical
analysis in accordance with the Combined Therapy Protocol) from the Combined Therapy Study;

 

(iii)
if requested by BMS, within [***] Days after database lock for the Combined Therapy Study, access
to those safety databases for the Combined Therapy Study that will be used for any interim review by an external consultant (or drug
safety monitoring board, if required);

 

(iv)
if requested by BMS, within [***] Days after database lock for the Combined Therapy Study, access
to case report forms or patient profiles for all patients in the Combined Therapy Study;

 

    Page 17 of 42

     

    

 

(v)
if requested by BMS, within [***] Days of the creation of an electronic clean database for the
Combined Therapy Study, an electronic copy of the clean database (the form and format of the clean database to be reasonably acceptable
to both Parties);

 

(vi)
if requested by BMS, subject to any restrictions contained in any of Recipient’s agreements with any of its CROs, providing
BMS with any programs or SAS codes to be used for any statistical analysis plan for the Combined Therapy Study;

 

(vii)
if Recipient’s steering committee for the Recipient Clinical Trial deems it necessary to generate or assess any of the following
for the Combined Therapy Study, (A) safety analyses, (B) new and/or changing Safety Signals and Safety Issues, (C) new
and/or changing toxicology and efficacy signals, and (D) any statistical analysis, immunogenicity analysis, or bioanalysis, in each
case relating to the BMS Study Drug, the Recipient FDC and/or the Combined Therapy, as and when the same are received by the Recipient;

 

(l)
obtaining supplies of any co-medications, to the extent any such co-medications are required for use in the Combined Therapy Study,
and providing to BMS any information related to the Combined Therapy Study that is provided to the manufacturer of any co-medication
within [***]Days after the provision of the information to the manufacturer;

 

(m)
if requested by BMS, information that Recipient has available to it as of the time of such request (and with no duty to conduct any
interim analysis not specified in the Combined Therapy Protocol for the Combined Therapy Study) regarding the pharmacokinetics, efficacy
and safety of the Recipient FDC alone or in combination with the BMS Study Drug;

 

(n)
performing either directly or through third parties’ collection of Samples from Combined Therapy Study patients required by
the Combined Therapy Protocol;

 

(o)
handling and addressing inquiries from the Combined Therapy Study subjects and investigators, and;

 

(p)
such other responsibilities as may be agreed to by the Parties in writing.

 

5.2
BMS Operational Responsibilities. BMS shall be responsible for the following activities:

 

(a)
Manufacturing and supplying GMP-grade quantities of the BMS Study Drug, as further described in Article 4 above, and, where
and to the extent provided in the Supply and Quality Documentation, providing necessary GMP information and documentation that enables
the Recipient Qualified Person (as such term will be defined in the Supply and Quality Documentation) to release BMS Study Drug for the
Combined Therapy Study;

 

(b)
where and to the extent provided in the Supply and Quality Documentation, providing for the release by a Qualified Person or providing
the necessary documentation in support of such quality release, of the BMS Study Drug if such release is required for the Combined Therapy
Study;

 

(c)
providing the Right of Cross-Reference to the BMS Regulatory Documentation set forth in Section 2.1(e) and, if applicable, providing
access to the BMS investigator’s brochure for the BMS Study Drug (and updates thereto) as provided in Section 2.1(d); and

 

(d)
such other responsibilities as may be agreed to by the Parties in writing.

 

    Page 18 of 42

     

    

 

5.3
Other Clinical Trials. Nothing in this Agreement shall preclude either Party from conducting any other clinical trials as it may
determine in its discretion, so long as it does not use or rely on the Confidential Information that is solely owned by the other Party
in doing so.

 

5.4
Potential Subsequent Studies. Close to or after completion of the Combined Therapy Study, the Parties agree to discuss in good faith,
for a period of no longer than [***] days, additional clinical trials of the BMS Study Drug with
the Recipient FDC, provided that neither Party shall be obligated to collaborate with the other Party or agree on terms with the other
Party with respect to any additional clinical trial. If the Parties mutually agree to jointly conduct any such further clinical trials,
such further clinical trials would only be conducted pursuant to a separate written agreement between the Parties.

 

Article
6

INTELLECTUAL PROPERTY

 

6.1
Inventions and related Patent Rights. All rights to Inventions shall be allocated as follows:

 

(a)
Recipient Ownership. Subject to the terms of this Agreement, all Recipient Study Inventions and Recipient Study Patent Rights shall
be owned solely by the Recipient, and the Recipient will have the full right to exploit such Recipient Study Inventions and Recipient
Study Patent Rights without the consent of, or any obligation to account to, BMS. BMS shall assign and hereby assigns (and shall cause
its Affiliates and contractors to assign) its right, title and interest in any Recipient Study Inventions and Recipient Study Patent
Rights to the Recipient. BMS shall execute such further documents and provide other assistance as may be reasonably requested by the
Recipient to perfect the Recipient’s rights in such Recipient Study Inventions and Recipient Study Patent Rights, all at the Recipient’s
expense. The Recipient shall have the sole right, but not the obligation, to prepare, file, prosecute (including any proceedings relating
to reissues, reexaminations, protests, interferences, oppositions, post-grant reviews or similar proceedings and requests for patent
extensions) and maintain any Recipient Study Patent Rights at its own expense.

 

(b)
BMS Ownership. Subject to the terms of this Agreement, all BMS Study Inventions and BMS Study Patent Rights shall be owned solely
by BMS, and BMS will have the full right to exploit such BMS Study Inventions and BMS Study Patent Rights without the consent of, or
any obligation to account to, the Recipient. The Recipient shall assign and hereby assigns (and shall cause its Affiliates and contractors
to assign) all its right, title and interest in any BMS Study Inventions and BMS Study Patent Rights to BMS. The Recipient shall execute
such further documents and provide other assistance as may be reasonably requested by BMS to perfect BMS’ rights in such BMS Study
Inventions and BMS Study Patent Rights, all at BMS’ expense. BMS shall have the sole right but not the obligation to prepare, file,
prosecute (including any proceedings relating to reissues, reexaminations, protests, interferences, oppositions, post-grant reviews or
similar proceedings and requests for patent extensions) and maintain any BMS Study Patent Rights at its own expense.

 

(c)
Combined Therapy Inventions.

 

(i)
All Combined Therapy Inventions and Combined Therapy Patent Rights shall be jointly owned by the Parties, and either Party shall
have the right to freely use, exploit, and grant licenses (with the right to sublicense) to Third Parties under its interest in, the
Combined Therapy Inventions and Combined Therapy Patent Rights, both within and outside the scope of this Agreement, without the consent
of the other Party and without accounting or any other obligation to the other Party (except as expressly set forth in this Section 6.1(c)
and Section 6.3(d) with regard to the filing, prosecution, maintenance and enforcement of Combined Therapy Patent Rights). The Recipient,
using outside counsel acceptable to both Parties, shall be responsible, at its sole discretion, for preparing and prosecuting Patent
applications and maintaining Patents within the Combined Therapy Patent Rights. The Recipient shall keep BMS advised as to material developments
and steps to be taken with respect to prosecuting any Combined Therapy Patent Rights and shall furnish BMS with copies of applications
for such Combined Therapy Patent Rights, amendments thereto and other related correspondence to and from patent offices, and permit BMS
a reasonable opportunity to review and offer comments prior to submitting such applications and correspondence to the applicable governmental
authority (and will consider BMS’ timely-made comments in good faith in preparing same). If BMS timely identifies to Recipient
any position taken by Recipient in a proposed submission to a patent office with respect to a Combined Therapy Patent Right that BMS
believes in good faith disparages any claimed subject matter of a BMS Independent Patent Right or BMS Study Patent Right, the Parties
shall cooperate in good faith to modify that portion of such submission so as not to disparage such claimed subject matter. BMS shall
reasonably assist and cooperate in obtaining, prosecuting and maintaining the Combined Therapy Patent Rights. BMS shall reimburse Recipient
for [***] of any costs and expenses incurred by Recipient in filing, prosecuting and maintaining
Combined Therapy Patent Rights. From time to time, the Recipient shall invoice BMS such amounts and BMS shall pay the Recipient such
invoiced amounts within [***] days after receipt of an invoice therefor.

 

    Page 19 of 42

     

    

 

(ii)
The Parties shall discuss in good faith the countries in which the Combined Therapy Patent Rights will be filed. In case Recipient
desires not to file or maintain a Combined Therapy Patent Right in a given country, or BMS desires not to be responsible for its [***]
share of the costs of prosecution and maintenance of a Combined Therapy Patent Right in such country, such Party (the “Non-Continuing
Party”) shall promptly notify the other Party in writing thereof (provided that if BMS desires to cease bearing [***]
of such costs, BMS shall remain responsible for its share of such costs incurred during the [***]
days following such notice to Recipient), the other Party shall have the right to file, prosecute and maintain such Combined Therapy
Patent Right in such country in its own name and at its own expense. If the other Party elects to file, prosecute and maintain such Combined
Therapy Patent Right in such country, the Non-Continuing Party with respect to such Combined Therapy Patent Right in such country shall
promptly assign its rights to the Combined Therapy Patent Right in said country to the Party who elects to file or maintain said Combined
Therapy Patent Right in such country (the “Filing Party”), and the Filing Party shall grant, and hereby grants,
to the Non-Continuing Party an irrevocable, perpetual, fully-paid, non-exclusive license, with the right to grant and authorize sublicenses,
under such Combined Therapy Patent Rights for all purposes except to research, develop, make, have made, use, sell offer for sale, export
or import the Filing Party’s Study Drug or any biosimilar or generic version of the Filing Party’s Study Drug (in each case,
whether as a monotherapy or in combination with the Non-Continuing Party’s Study Drug or any Other Compound) in such country. The
Non-Continuing Party with respect to a Combined Therapy Patent Right in any country shall assist in the timely provision of all documents
required under national provisions to register said assignment of rights with the corresponding national authorities at the sole expenses
of the Filing Party.

 

(d)
Separation of Patent Rights. In order to more efficiently enable the prosecution and maintenance of the BMS Study Patent Rights,
the Recipient Study Patent Rights and Combined Therapy Patent Rights as described above, the Parties will use good faith efforts to separate
BMS Study Patent Rights, the Recipient Study Patent Rights, Combined Therapy Patent Rights, BMS Independent Patent Rights and the Recipient
Independent Patent Rights into separate patent filings to the extent possible and without adversely impacting such prosecution and maintenance
or the scope of the protected subject matter. Notwithstanding any other provision of this Agreement to the contrary, neither Party shall
file any patent application claiming: (i) both a BMS Study Invention and a Recipient Study Invention; (ii) both a BMS Study
Invention and a Combined Therapy Invention; or (iii) both a Recipient Study Invention and a Combined Therapy Invention; in each
case, without the prior written consent of the other Party, which the other Party may withhold in its sole discretion.

 

6.2
Disclosure and Assignment of Inventions. Each Party shall disclose promptly to the other Party in writing and on a confidential basis
all Inventions, prior to any public disclosure thereof or filing of Patent Rights therefor and allowing sufficient time for comment by
the other Party. In addition, each Party shall, and does hereby, assign, and shall cause its Affiliates and contractors to so assign,
to the other Party, without additional compensation, such right, title and interest in and to any Inventions as well as any Patent Rights
and other intellectual property rights with respect thereto, as is necessary to fully effect, as applicable, the sole ownership provided
for in Sections 6.1(a) and 6.1(b) and the joint ownership provided for in Section 6.1(c).

 

6.3
Infringement of Patent Rights by Third Parties.

 

(a)
Notice. Each Party shall promptly notify the other Party in writing of any Infringement of Combined Therapy Patent Rights of which
it becomes aware.

 

    Page 20 of 42

     

    

 

(b)
Infringement of Recipient Study Patent Rights. For all Infringements of Recipient Study Patent Rights anywhere in the world, the
Recipient shall have the exclusive right, but not the obligation, to prosecute such Infringements as it may determine in its sole and
absolute discretion, and the Recipient shall bear all related expenses and retain all related recoveries. BMS shall reasonably cooperate
with the Recipient or its designee (to the extent BMS has relevant information arising out of this Agreement), at the Recipient’s
request and expense, in any such action.

 

(c)
Infringement of BMS Study Patent Rights. For all Infringements of BMS Study Patent Rights anywhere in the world, BMS shall have the
exclusive right, but not the obligation, to prosecute such Infringements as it may determine in its sole and absolute discretion, and
BMS shall bear all related expenses and retain all related recoveries. The Recipient shall reasonably cooperate with BMS or its designee
(to the extent that the Recipient has relevant information arising out of this Agreement), at BMS’s request and expense, in any
such action.

 

(d)
Infringement of Combined Therapy Patent Rights.

 

(i)
Recipient shall have the first right to bring legal action to enforce the Combined Therapy Patent Rights against Infringement, where
such Infringement results from the use or sale of a product that includes the Recipient FDC but not the BMS Study Drug or to defend any
declaratory judgment action relating thereto, at its sole expense. In the event that Recipient fails to initiate or defend such action
by the earlier of (A) [***] days after first being notified or made aware of such Infringement
and (B) [***] days before the expiration for initiating or defending such action, BMS shall
have the right to initiate or defend such action at its sole expense.

 

(ii)
BMS shall have the first right to bring legal action to enforce the Combined Therapy Patent Rights against Infringement, where such
Infringement results from the use or sale of a product that includes the BMS Study Drug but not the Recipient FDC or to defend any declaratory
judgment action relating thereto, at its sole expense. In the event that BMS fails to initiate or defend such action by the earlier of
(A) [***] days after first being notified or made aware of such Infringement and (B) [***]
days before the expiration for initiating or defending such action, Recipient shall have the right to do so at its sole expense.

 

(iii)
The Parties shall cooperate in good faith to jointly control legal action to enforce the Combined Therapy Patent Rights against any
Infringement where such Infringement results from the use or sale of a combination therapy using both the Recipient FDC and the BMS Study
Drug or to defend any declaratory judgment action relating thereto, and shall share the costs and expenses of such litigation equally.
Notwithstanding the foregoing, either Party shall have the right to opt-out of controlling such legal action by providing written notice
to the other Party by the earlier of (A) [***] days after first being notified or made aware
of such Infringement and (B) [***] days before the expiration for initiating or defending such
action, and (C) [***] days before the expiration date for filing an answer to a complaint in
a declaratory judgment action.

 

(iv)
If one Party brings any prosecution or enforcement action or proceeding against a Third Party with respect to any Combined Therapy
Patent Right, the second Party agrees to be joined as a party plaintiff where necessary and to give the first Party reasonable assistance
and authority to file and prosecute the suit. The costs and expenses of the Party bringing suit under this Section 6.3(d) shall
be borne by such Party, and, unless otherwise mutually agreed in writing by the Parties as part of a cost- and recovery-sharing arrangement,
any damages or other monetary awards recovered shall be shared as follows: (A) the amount of such recovery actually received by
the Party controlling such action shall be first applied to the out-of-pocket costs of each Party in connection with such action; and
then (B) any remaining proceeds shall be shared by the Parties in proportion to their relative contributions to the total costs
and expenses of the litigation, including, as applicable, any costs and expenses of Recipient to enforce any Recipient Independent Patent
Rights and Recipient Study Patent Rights and any costs and expenses of BMS to enforce any BMS Independent Patent Rights and BMS Study
Patent Rights. Neither Party shall enter into any settlement or consent judgment or other voluntary final disposition of an action under
this Section 6.3(d) without the prior written consent of the other Party.

 

    Page 21 of 42

     

    

 

6.4
Infringement of Third Party Rights.

 

(a)
Notice. If the activities relating to the Combined Therapy Study become the subject of a claim of infringement of a patent, copyright
or other proprietary right by a Third Party anywhere in the world, the Party first having notice of the claim shall promptly notify the
other Party and, without regard to which Party is charged with said infringement and the venue of such claim, the Parties shall promptly
confer to discuss the claim.

 

(b)
Defense. If both Parties are charged with infringement pursuant to a claim described in Section 6.4(a), each Party shall have
the right to defend itself against such claim and the Parties shall discuss in good faith defending such claim jointly. If only one Party
is charged with infringement, such Party will have the first right but not the obligation to defend such claim. If the charged Party
does not commence actions to defend such claim within [***] days after request by the other Party
to do so, then the other Party shall have the right, but not the obligation, to defend any such claim to the extent such claim pertains
to the other Party’s Study Drug. In any event, the non-defending Party shall reasonably cooperate with the Party conducting the
defense of the claim and shall have the right to participate with separate counsel at its own expense, and the defending Party shall
consider comments and suggestions on strategy for defending the action by the non-defending Party in good faith. The Party defending
the claim shall bear the cost and expenses of the defense of any such Third Party infringement claim and shall have sole rights to any
recovery. If the Parties jointly defend the claim, the Recipient shall bear [***] and BMS shall
bear [***]of any costs and expenses of the defense of any such Third Party infringement claim and
shall share any recovery equally; provided, however, that, notwithstanding the foregoing, if the claim relates solely to one Party’s
Study Drug, such Party will bear one hundred percent (100%) of the costs and expenses of the defense of such claim, shall have the sole
right, but not the obligation, to defend, settle and otherwise handle the disposition of such claim, and shall have sole rights to any
recovery. Neither Party shall enter into any settlement concerning activities under this Agreement or the Combined Therapy that affects
the other Party’s rights under this Agreement or imposes any obligations on the other Party, including any admissions of wrongdoing
on behalf of the other Party, without such other Party’s prior written consent, not to be unreasonably withheld or delayed, except
that a Party may settle any claim that solely relates to its Study Drug without the consent of the other Party as long as such other
Party’s rights under this Agreement are not adversely impacted (in which case, it will obtain such other Party’s prior written
consent, not to be unreasonably withheld or delayed).

 

6.5
Combined Therapy Study Regulatory Documentation. Subject to the license and other rights granted by each Party to the other Party
pursuant to this Agreement, the Recipient shall solely own all right, title and interest in and to the Combined Therapy Study Regulatory
Documentation; provided, however, that BMS shall retain sole and exclusive ownership of any BMS Regulatory Documentation
that is submitted with or referenced in the Combined Therapy Study Regulatory Documentation and that the Recipient shall retain sole
and exclusive ownership of any Recipient Regulatory Documentation that is submitted with or referenced in the Combined Therapy Study
Regulatory Documentation. This Section 6.5 is without limitation of any other disclosure obligations under this Agreement.

 

6.6
No Other Use. Except as expressly provided in Section 6.1, the Recipient agrees not to apply for any Patent Rights based on
or containing BMS Confidential Information, and to give no assistance to any Third Party for such application without BMS’ prior
written authorization, and BMS agrees not to apply for any Patent Rights based on or containing the Recipient’s Confidential Information,
and to give no assistance to any Third Party for such application without the Recipient’s prior written authorization.

 

6.7
Joint Research Agreement. The Parties acknowledge and agree that this Agreement is a “joint research agreement” as defined
in 35 USC § 100 (h).

 

    Page 22 of 42

     

    

 

Article
7

COSTS AND EXPENSES

 

7.1
Manufacturing and IP Costs. Expenses incurred as described in Article 4 (regarding Manufacturing and Supply) and Article 6
(regarding Intellectual Property) shall be borne or shared by the Parties as provided in such Articles.

 

7.2
Third Party Study Costs. For all expenses (other than those set forth in Section 7.1) that are directly attributable or reasonably
allocable to the conduct of the Combined Therapy Study: (a) the Recipient will solely bear all out-of-pocket costs reasonably incurred
by the Recipient (or by BMS pursuant to the following sentence) to Third Parties contracted by Recipient under a Recipient authorized
written work order (including to CROs, laboratories and clinical sites/IRBs) in connection with the performance of the Combined Therapy
Study (“TP Study Costs”); and (b) each Party shall be solely responsible for all of its own internal costs
(including costs of individual independent contractors) incurred by such Party or any of its Affiliates. It is not expected that BMS
will incur any TP Study Costs; however, in the event BMS should incur any TP Study Costs in connection with the conduct of the Combined
Therapy Study, the Recipient will reimburse BMS for same on a quarterly basis within [***] days
following submission of an invoice therefor and appropriate supporting documentation. BMS shall pay for any costs of Third Parties contracted
directly by BMS.

 

7.3
Third Party License Payments. If the conduct of the Combined Therapy Study requires a Third Party License Payment, then the Party
required to make such payment shall be responsible for same.

 

Article
8

RECORDS AND STUDY DATA

 

8.1
Records. Each Party shall maintain complete and accurate records of all work conducted with respect to the Combined Therapy Study
and of all results, information, data, data analyses, reports, records, methods, processes, practices, formulae, instructions, skills,
techniques, procedures, experiences and developments made by or provided to either Party, or by the Parties together, in the course of
such Party(ies)’ efforts with respect to the Combined Therapy Study (such results, information, data, data analyses, reports, CRFs,
adverse event reports, trial records, methods, processes, practices, formulae, instructions, skills, techniques, procedures, experiences,
developments, and the Combined Therapy Protocol referred to as the “Study Data”; provided, however,
that “Study Data” specifically excludes Inventions and Patent Rights). Such records shall fully and properly reflect all
work done and results achieved in the performance of the Combined Therapy Study in sufficient detail and in good scientific manner appropriate
for patent and regulatory purposes. For clarity, Study Data shall not be deemed to include any data generated under any arm of the Recipient
Clinical Trial other than the Combined Therapy Study.

 

8.2
Ownership of Study Data. BMS shall own Study Data pertaining solely to the BMS Study Drug (“BMS Study Data”),
and Recipient shall own the Study Data pertaining solely to the Recipient FDC (“Recipient Study Data”). Subject
to the restrictions on use and disclosure as set forth in this Agreement, both Parties shall jointly own any Study Data that is not BMS
Study Data or Recipient Study Data (such jointly owned Study Data being the “Combined Therapy Study Data”).
Each Party shall, and does hereby, assign, and shall cause its Affiliates to so assign, to the other Party, without additional compensation,
such right, title and interest in and to any Study Data as is necessary to fully effect the foregoing, and agrees to execute all instruments
as may be reasonably necessary to effect same.

 

8.3
Use of a Party’s Own Study Data. BMS may use, analyze and disclose to Third Parties the BMS Study Data for any purpose without
obligation or accounting to Recipient. Recipient may use, analyze and disclose to Third Parties the Recipient Study Data for any purpose
without obligation or accounting to BMS.

 

    Page 23 of 42

     

    

 

8.4
Use of Combined Therapy Study Data by BMS.

 

(a)
Subject to the restrictions on disclosure of the Combined Therapy Study Data to Third Parties as set forth below in this Section 8.4,
BMS shall have the right to use and analyze the Combined Therapy Study Data for all lawful purposes, without the consent of, and without
any obligation to account to, Recipient.

 

(b)
The Combined Therapy Study Data shall not be disclosed to Third Parties by BMS except as follows (and otherwise as expressly permitted
under this Agreement).

 

(i)
BMS may disclose the Combined Therapy Study Data to its contractors under confidentiality obligations similar to BMS’ obligations
under the Agreement, solely for purposes and to the extent required for such contractors to provide services for BMS for the development,
regulatory approval and/or commercialization of the BMS Study Drug.

 

(ii)
BMS may disclose the Combined Therapy Study Data (x) to Regulatory Authorities in connection with regulatory filings pertaining
to the BMS Study Drug, (y) to Combined Study investigators as necessary in connection with the Combined Therapy Study and/or (z)
as may be required by Applicable Law.

 

(iii)
To the extent that the Combined Therapy Study Data includes safety information and BMS needs to disclose to Third Parties such safety
information of the Combined Therapy in its studies of the BMS Study Drug with Other Compounds in order to ensure patient safety, BMS
may disclose such safety information. For clarity, BMS shall not disclose safety information related solely to the Recipient FDC.

 

(iv)
BMS may use and disclose to a Third Party the Combined Therapy Study Data, under obligations of confidentiality consistent with this
Agreement, to the extent such Third Party is developing or commercializing a biomarker or diagnostic test for use with the BMS Study
Drug and/or the Combined Therapy.

 

(v)
If BMS is the Filing Party with respect to a Combined Therapy Patent Right in a country, BMS may disclose Combined Therapy Study
Data in filing and prosecuting such Combined Therapy Patent Right in such country in accordance with Section 6.1(c).

 

    Page 24 of 42

     

    

 

8.5
Use of Combined Therapy Study Data by Recipient.

 

(a)
Subject to the restrictions on disclosure of the Combined Therapy Study Data to Third Parties as set forth below in this Section 8.5,
Recipient shall have the right to use and analyze the Combined Therapy Study Data for all lawful purposes, without the consent of, and
without any obligation to account to, BMS.

 

(b)
The Combined Therapy Study Data shall not be disclosed to Third Parties by Recipient except as follows (and otherwise as expressly
permitted under this Agreement).

 

(i)
Recipient may disclose the Combined Therapy Study Data to its contractors under confidentiality obligations similar to Recipient’s
obligations under the Agreement, solely for purposes and to the extent required for such contractors to provide services for Recipient
for the development, regulatory approval and/or commercialization of the Recipient FDC.

 

(ii)
Recipient may disclose the Combined Therapy Study Data (x) to Regulatory Authorities in connection with regulatory filings pertaining
to the Recipient FDC, (y) to investigators as necessary in connection with the Combined Therapy Study and/or (z) as may be
required by Applicable Law.

 

(iii)
To the extent that the Combined Therapy Study Data includes safety information and Recipient needs to disclose to Third Parties such
safety information of the Combined Therapy in its studies of the Recipient FDC with Other Compounds in order to ensure patient safety,
Recipient may disclose such safety information solely for such purposes. For clarity, Recipient shall not disclose safety information
related solely to the BMS Study Drug.

 

(iv)
Recipient may use and disclose to a Third Party the Combined Therapy Study Data, under obligations of confidentiality consistent
with this Agreement, to the extent such Third Party is developing or commercializing a biomarker or diagnostic test for use with the
Recipient FDC and/or the Combined Therapy.

 

(v)
Recipient may disclose Combined Therapy Study Data in filing and prosecuting Combined Therapy Patent Rights in accordance with Section 6.1(c).

 

8.6
No Other Uses. All other uses of Study Data are limited solely to those permitted by this Agreement, and neither Party may use Study
Data for any other purpose without the consent of the other Party during and after the Term of this Agreement.

 

8.7
Access to Study Data. In accordance with the terms and conditions of this Agreement, each Party shall have access to all Study Data
(including the results of testing of Samples (including, but not limited to, de-identified patient records) pursuant to the Combined
Therapy Protocol) in a timely manner.

 

    Page 25 of 42

     

    

 

8.8
Samples.

 

(a)
Samples collected in the course of activities conducted under this Agreement shall be solely owned by Recipient (to the extent not
owned by the patient and/or the clinical trial site). Any such Samples shall be collected in accordance with the applicable Protocol
and ICFs. The Parties shall reasonably discuss in good faith any use of the Samples for any purpose other than conducting the Combined
Therapy Study consistent with the Combined Therapy Protocol and neither Party shall use the Samples for any such other purpose without
the prior written consent of the other Party, which consent shall not be unreasonably withheld if such use is related to the Combined
Therapy (with the terms of such use to be set forth in a written agreement between the Parties setting forth the Samples to be used,
and any appropriate terms/restrictions on such use).

 

(b)
Subject to Section 6.1 and 8.2, any data and Inventions (and Patent Rights claiming such Inventions) arising out of the permitted
testing of the Samples shall be owned by the Party conducting such testing, provided that to the extent that any such data or
Inventions (and Patent Rights claiming such Inventions) relates solely to the Combined Therapy (or biomarkers solely for use solely with
the Combined Therapy), such data or Inventions (and Patent Rights claiming such Inventions) shall be considered Combined Therapy Study
Data or Combined Therapy Inventions (and Combined Therapy Patents), as the case may be.

 

(c)
If the Party holding the Samples determines that it no longer has a use for the Samples and the other Party determines that it does,
then the Samples shall, subject to Applicable Law and the terms of the signed ICFs, be transferred to the other Party and may be used
solely thereafter by the other Party. If neither Party has any further use for the Samples, then the remaining Samples will be destroyed
pursuant to the respective Party’s standard operating procedures for sample retention and destruction, subject to the terms of
and permission(s) granted in the ICFs signed by the subjects contributing the Samples in the Combined Therapy Study.

 

8.9
Monotherapy Study Data and Recipient Study Data. The Recipient agrees to make available to BMS, upon request by BMS, the Recipient
Study Data and study data generated in the Monotherapy Arm(s) of the Recipient Clinical Trial for the same indication(s) in which the
Combined Therapy is evaluated in the Combined Therapy Study for research purposes relating to the Combined Therapy (including allowing
BMS to analyze and estimate contribution of the Recipient FDC and the BMS Study Drug). BMS acknowledges and agrees that such data is
Confidential Information of the Recipient and shall hold such study data in compliance with the confidentiality and non-use obligations
set forth in this Agreement.

 

Article
9

CONFIDENTIALITY

 

9.1
Nondisclosure of Confidential Information.

 

(a)
Prior to the Effective Date, the Recipient and BMS entered into a certain Mutual Confidentiality Agreement dated May 1, 2019 (the
“CDA”). As it relates to disclosures involving the BMS Study Drug, the Recipient FDC or the conduct of the
Combined Therapy Study only, the CDA is hereby terminated and replaced by the terms of this Agreement. Any Confidential Information relating
thereto previously disclosed by the Parties pursuant to the CDA shall now be Confidential Information for purposes of this Agreement
and the Parties shall treat it as such in accordance with the terms hereof. “Confidential Information” of a
Party means all data, information, know-how or other proprietary information or materials, both technical and non-technical, disclosed
by such Party to the other Party pursuant to this Agreement, whether in written, visual, oral, electronic or other form; provided,
however, that all Study Data and Inventions shall be the Confidential Information of the Party owning such Study Data or Invention
(as provided in Section 8.2 with regard to Study Data and Section 6.1 with regard to Inventions). Confidential Information
(other than Study Data and Inventions, to which this sentence shall not apply) that (a) is first disclosed in tangible form shall
be labeled by the disclosing Party in writing as “proprietary” or “confidential” (or similar reference), and
(b) is first disclosed in oral or visual form shall be identified by the disclosing Party as proprietary or confidential or for
internal use only at the time of disclosure or within [***] days thereafter. Notwithstanding the
foregoing, that failure of the disclosing Party to so label or identify Confidential Information shall not constitute a designation of
non-confidentiality nor a waiver of the receiving Party’s obligations under this Agreement if the confidential nature of such information
would be apparent to a reasonable person in the life sciences industry based on the subject matter thereof, the circumstances under which
it was disclosed, or otherwise. For purposes of this Agreement, regardless of which Party discloses such Confidential Information to
the other, (i) all Recipient Study Inventions, Recipient Technology and Recipient Regulatory Documentation shall be Confidential
Information of the Recipient and BMS shall be the receiving Party, (ii) all BMS Study Inventions, BMS Technology, and BMS Regulatory
Documentation shall be Confidential Information of BMS and the Recipient shall be the receiving Party.

 

    Page 26 of 42

     

    

 

(b)
The Parties agree that the terms of this Agreement shall be treated as Confidential Information of both Parties, and thus may be
disclosed only as permitted by Section 9.3. Except as required by Applicable Law, each Party agrees not to issue any press release
or public statement disclosing information relating to this Agreement or the transactions contemplated hereby or the terms hereof without
the prior written consent of the other Party, except as permitted by Sections 9.3 and 9.5(a).

 

(c)
Except to the extent expressly authorized in this Section 9.1 and Sections 9.2, 9.3 and 9.6 below, or as otherwise agreed
in writing by the Parties, each Party agrees that, for the Term and for a period of [***] thereafter,
it shall (A) keep confidential and shall not publish or otherwise disclose and shall not use for any purpose other than as expressly
provided for in this Agreement any Confidential Information of the other Party (including information relating to this Agreement or the
transactions contemplated hereby or the terms hereof), (B) treat the other Party’s Confidential Information with the same
degree of care the receiving Party uses for its own confidential information but in no event with less than a reasonable degree of care,
and (C) reproduce the disclosing Party’s Confidential Information solely to the extent necessary or reasonably useful to accomplish
the receiving Party’s obligations under this Agreement or exercise the receiving Party’s rights to use and disclose such
Confidential Information as expressly provided for in this Agreement, with all such reproductions being considered the disclosing Party’s
Confidential Information, provided that, with respect to BMS Confidential Information that was received as confidential information
from [***] and is identified by BMS to Recipient in writing as having been received as confidential
information from [***], the obligations of confidentiality and nonuse shall continue until BMS has
obtained [***] written consent that the same may be freely used. Notwithstanding anything to the
contrary in this Section 9.1, and subject to Section 8.2, the receiving Party may disclose the disclosing Party’s Confidential
Information to its employees, consultants, agents or permitted (sub)licensees solely on a need-to-know basis for the purpose of fulfilling
the receiving Party’s obligations under this Agreement or exercising the receiving Party’s rights under this Agreement; provided,
however, that (1) any such employees, consultants, agents or permitted (sub)licensees are bound by obligations of confidentiality
and non-use at least as restrictive as those set forth in this Agreement, and (2) the receiving Party remains liable for the compliance
of such employees, consultants, agents or permitted (sub)licensees with such obligations. Each receiving Party acknowledges that in connection
with its and its representatives examination of the Confidential Information of the disclosing Party, the receiving Party and its representatives
may have access to material, non-public information, and that the receiving Party is aware, and will advise its representatives who are
informed as to the matters that are the subject of this Agreement, that State and Federal laws, including United States securities laws,
may impose restrictions on the dissemination of such information and trading in securities when in possession of such information. Each
receiving Party agrees that it will not, and will advise its representatives who are informed as to the matters that are the subject
of this Agreement to not, purchase or sell any security of the disclosing Party on the basis of the Confidential Information to the extent
such Confidential Information constitute material nonpublic information about the disclosing Party or such security.

 

(d)
Combined Therapy Study Data shall be treated as Confidential Information of each Party and shall not be disclosed to Third Parties
except to the extent it falls within the exceptions set forth in Section 9.2 below, is authorized under this Section 9.1 or
Section 9.3, is required to be filed with a Regulatory Authority or included in a product’s label or package insert, is reasonably
necessary to be disclosed in order for a Party to exercise its rights under Section 8.4 or 8.5 or is disclosed pursuant to Section 9.5.

 

    Page 27 of 42

     

    

 

9.2
Exceptions. The obligations in Section 9.1 shall not apply with respect to any portion of Confidential Information that the
receiving Party can demonstrate by contemporaneous tangible records or other competent proof:

 

(a)
was already known to the receiving Party (or its Affiliates), other than under an obligation of confidentiality, either (i) at
the time of disclosure by the disclosing Party, or (ii) if applicable, at the time that it was generated hereunder, whichever ((i)
or (ii)) is earlier;

 

(b)
was generally available to the public or otherwise part of the public domain either (i) at the time of its disclosure to the
receiving Party, or (ii) if applicable, at the time that it was generated hereunder, whichever ((i) or (ii)) is earlier;

 

(c)
became generally available to the public or otherwise part of the public domain after its disclosure and other than through any act
or omission of the receiving Party in breach of this Agreement;

 

(d)
was disclosed to the receiving Party (or its Affiliates), other than under an obligation of confidentiality, by a Third Party who
had no obligation to the Party owning or Controlling the information not to disclose such information to others; or

 

(e)
was independently discovered or developed by the receiving Party (or its Affiliates) outside of the activities conducted pursuant
to this Agreement and without the use of, or reference to, the Confidential Information belonging to the disclosing Party.

 

9.3
Authorized Disclosure. Notwithstanding any other provision of this Agreement, each Party may disclose Confidential Information belonging
to the other Party to the extent such disclosure is reasonably necessary in the following instances:

 

(a)
filing or prosecuting Patent Rights pursuant to Section 6.1(c);

 

(b)
prosecuting or defending litigation;

 

(c)
complying with Applicable Law or the rules or regulations of any securities exchange on which such Party’s stock is listed;

 

(d)
disclosure, in connection with the performance of this Agreement, to Affiliates, permitted (sub)licensees, contractors, IRBs, CROs,
academic institutions, consultants, agents, investigators, and employees and contractors engaged by study sites and investigators involved
with the Combined Therapy Study, each of whom prior to disclosure must be bound by terms of confidentiality and non-use substantially
similar to those set forth in this Article 9;

 

(e)
disclosure of the Combined Therapy Study Data, Combined Therapy Inventions and Combined Therapy Patent Rights to Regulatory Authorities
in connection with the development and registration of the Combined Therapy, the Recipient FDC or the BMS Study Drug as permitted by
this Agreement;

 

    Page 28 of 42

     

    

 

(f)
disclosure of relevant safety information contained within the Combined Therapy Study Data to investigators, IRBs and/or ethics committees
and Regulatory Authorities that are involved in other clinical trials of the Recipient FDC with respect to the Recipient, and the BMS
Study Drug with respect to BMS, and, in the event of a Material Safety Issue, to Third Parties that are collaborating with the Recipient
or BMS, respectively in the conduct of such other clinical trials of the Recipient FDC or the BMS Study Drug, in each case solely to
the extent necessary for the conduct of such clinical trials and/or to comply with Applicable Law and regulatory requirements; and

 

(g)
disclosure of the terms and conditions of this Agreement and the Combined Therapy Study Data to actual and/or bona fide potential
investors, other financing sources, financial advisors, merger partners and acquirers in connection with due diligence or similar investigations
by or on behalf of such Third Parties, or in confidential financing documents, provided, in each case, that any such Third Party agrees
to be bound by written obligations of confidentiality and non-use substantially similar to those contained herein.

 

Notwithstanding
the foregoing, if a Party is required or otherwise intends to make a disclosure of any other Party’s Confidential Information pursuant
to Section 9.3(b) and/or Section 9.3(c), it shall give advance notice to such other Party of such impending disclosure and
endeavor in good faith to secure confidential treatment of such Confidential Information and/or reasonably assist the Party that owns
such Confidential Information in seeking a protective order or other confidential treatment.

 

9.4
[***]

 

9.5
Press Releases and Publications.

 

(a)
Promptly following the Effective Date, either Party may issue the press release attached hereto as Appendix B. It is further
acknowledged that each Party may desire or be required to issue subsequent press releases relating to this Agreement or activities hereunder.
The Parties agree to consult with each other reasonably and in good faith with respect to the text and timing of subsequent press releases
regarding this Agreement prior to the issuance thereof, provided that a Party may not withhold consent to such releases that the other
Party determines, based on advice of counsel, are reasonably necessary to comply with Applicable Laws, including disclosure requirements
of the U.S. Securities and Exchange Commission, or with the requirements of any stock exchange on which securities issued by a Party
or its Affiliates are traded. In the event of a required public announcement, to the extent there is sufficient time while still being
able to comply with Applicable Laws, including disclosure requirements of the U.S. Securities and Exchange Commission, or the requirements
of any stock exchange on which securities issued by a Party or its Affiliates are traded, the Party making such announcement shall provide
the other Party with a copy of the proposed text of such announcement sufficiently in advance of the scheduled release to afford such
other Party a reasonable opportunity to review and comment upon the proposed text. Each Party may make public statements regarding this
Agreement in response to questions by the press, analysts, investors or those attending industry conferences or financial analyst calls
so long as the contents of any such public statement are contained in a prior public disclosure or public statement approved by the other
Party pursuant to this Section 9.5(a) or permitted by Section 9.3 and does not reveal non-public information about the other
Party. For clarity, if either Party terminates this Agreement pursuant to Section 12.4, the Parties shall mutually agree upon any
external communication related to such termination, which shall not include the rationale for such termination unless (and to the extent)
mutually agreed by the Parties; provided that either Party shall be permitted to publicly disclose information that such Party
determines in good faith is necessary to be disclosed to comply with Applicable Law or the rules or regulations of any securities exchange
on which such Party’s stock may be listed, or pursuant to an order of a court or governmental entity.

 

    Page 29 of 42

     

    

 

(b)
The Recipient and BMS agree to collaborate to publicly disclose, publish or present (i) top-line results from the Combined Therapy
Study, limited if possible to avoid jeopardizing the future publication of the Study Data at a scientific conference or in a scientific
journal, solely for the purpose of disclosing, as soon as reasonably practicable, the safety or efficacy results and conclusions that
are material to either Party under applicable securities laws, and (ii) the conclusions and outcomes (the “Results”)
of the Combined Therapy Study at a scientific conference as soon as reasonably practicable following the completion of such Combined
Therapy Study, subject in the case of (ii) to the following terms and conditions. The Party proposing to disclose, publish or present
the Results shall deliver to the other Party a copy of the proposed disclosure, publication or presentation at least [***]
Days before submission to a Third Party. The reviewing Party shall determine whether any of its Confidential Information that
may be contained in such disclosure, publication or presentation should be modified or deleted, whether to file a patent application
on any Recipient Study Invention (solely with respect to the Recipient) or BMS Study Invention (solely with respect to BMS) or Combined
Therapy Invention disclosed therein. The disclosure, publication or presentation shall be delayed for an additional [***]
Days (i.e., a total of [***] Days from the initial proposal) if the reviewing Party reasonably
requests such extension to allow time for the preparation and filing of relevant patent applications. If the reviewing Party reasonably
requests modifications to the disclosure, publication or presentation to prevent the disclosure of Confidential Information of the reviewing
Party (other than the Results or Study Data), the publishing Party shall edit such publication to prevent the disclosure of such information
prior to submission of the disclosure, publication or presentation. In the event of a disagreement as to content, timing and/or venue
or forum for any disclosure, publication or presentation of the Results, such dispute (a “Publication Dispute”)
shall be referred to the Executive Officers (or their respective designees); provided that, in the absence of agreement after such good
faith discussions, and upon expiration of the additional [***] Day-period, (A) academic collaborators
or clinical trial sites engaged by the Recipient in connection with the performance of the Combined Therapy Study may publish Combined
Therapy Study Data obtained by such academic collaborator or clinical trial site solely to the extent that such ability to publish such
Combined Therapy Study Data is set forth in an agreement between the Recipient and such academic collaborator or clinical trial site
relating to the conduct of Combined Therapy Study and (B) the publishing Party may proceed with the disclosure, publication or presentation
provided that such disclosure, publication or presentation is consistent with its internal publication guidelines and customary industry
practices for the publication of similar data and does not disclose the Confidential Information of the other Party (other than the Results
or Study Data). Authorship of any publication shall be determined based on the accepted standards used in peer-reviewed academic journals
at the time of the proposed disclosure, publication or presentation. The Parties agree that they shall make reasonable efforts to prevent
publication of a press release that could jeopardize the future publication of Study Data at a scientific conference or in a scientific
journal but in no way will this or any other provision of this Agreement supersede the requirements of any Applicable Law or the rules
or regulations of any securities exchange or listing entity on which a Party’s stock is listed (including any such rule or regulation
that may require a Party to make public disclosures about interim results of the Combined Therapy Study). Notwithstanding the foregoing,
nothing herein shall prevent or restrict [***] from making any disclosures of unpublished Study
Data disclosed to it by BMS pursuant to Section 9.4 or of the existence of this Agreement, in each case in order for [***]
to comply with requirements of Applicable Law, the rules or regulations of any securities exchange or listing entity on which
its stock may be traded or pursuant to an order of a court or governmental entity to publicly disclose the existence of the Agreement
and the Study Data, provided that if any such disclosure is made by [***] it will only disclose
the minimum amount of information necessary to achieve compliance and will provide the Recipient with reasonable advance notice of such
disclosure. Notwithstanding the foregoing or any other provision of this Agreement to the contrary, Recipient shall have the right to
publish interim data from the Combined Therapy Study in abstracts, posters and presentations at medical conferences, provided that Recipient
shall deliver to BMS a draft of the proposed abstract, poster or presentation for review and comment prior to submission at least [***]
Days prior to submission, and if reasonably requested by BMS, Recipient shall modify such submission to prevent the disclosure
of BMS Confidential Information (other than Results or Study Data) prior to any such submission.

 

(c)
The Recipient agrees to include in all press releases, presentations and publications it makes related to the Combined Therapy Study
specific mention, if applicable, of the BMS Study Drug and the support and involvement of BMS. BMS agrees to include in all press releases,
presentations and publications it makes related to the Combined Therapy Study specific mention, if applicable, of the Recipient FDC and
the support and involvement of the Recipient.

 

    Page 30 of 42

     

    

 

 

9.6
Compliance with Sunshine Laws.

 

(a)
For purposes of compliance with reporting obligations under Sunshine Laws, as between the Parties, the Recipient represents that
it is not, as of the Effective Date, subject to reporting obligations under the Sunshine Laws. Therefore, as between the Parties, BMS
will report payments or other transfers of value (“POTV”) made by the Recipient or the CRO related to the conduct
of the Combined Therapy Study and any applicable associated contractor engagements as required under the Sunshine Laws for the Combined
Therapy Study. BMS shall request delayed publication for any reported POTV for studies sponsored by the Recipient as permitted under
the Sunshine Laws and if consistent with BMS’ normal business practices. In the event that the Recipient becomes responsible for
reporting POTV for studies sponsored by it in a given country during the Term, the Recipient shall provide written notification to BMS
and the Parties will meet to confer to discuss how they wish to handle reporting thereafter. Interpretation of the Sunshine Laws for
purposes of reporting any POTV by a Party shall be in such Party’s sole discretion so long as the interpretation complies with
Applicable Law.

 

(b)
The Recipient (i) will provide (to the extent in the possession of the Recipient), or will utilize Commercially Reasonable Efforts
to obligate and ensure that each CRO and other applicable Third Party contractors for the Combined Therapy Study provides, BMS with any
information requested by BMS as BMS may reasonably determine is necessary for BMS to comply with its reporting obligations under Sunshine
Laws (with such amounts paid to, or at the direction of, healthcare providers, teaching hospitals and/or any other persons for whom POTVs
must be reported under Sunshine Laws to be reported to BMS within a reasonable time period specified by BMS) and (ii) will reasonably
cooperate with, and will utilize Commercially Reasonable Efforts to obligate and ensure that each CRO and other applicable Third Party
contractors for the Combined Therapy Study reasonably cooperates with, BMS in connection with its compliance with such Sunshine Laws.
The form in which the Recipient provides any such information shall be mutually agreed but sufficient to enable BMS to comply with its
reporting obligations and BMS may disclose any information that it believes is necessary to comply with Sunshine Laws. Without limiting
the foregoing, BMS shall have the right to allocate POTVs in connection with this Agreement in any required reporting under Sunshine
Laws in accordance with its normal business practices. These obligations shall survive the expiration and termination of this Agreement
to the extent necessary for BMS to comply with Sunshine Laws. The Recipient shall not be required to provide any information to BMS that
is subject to disclosure pursuant to the Recipient’s own obligations under the Sunshine Laws.

 

(c)
For purposes of this Section 9.6, “Sunshine Laws” shall mean Applicable Laws requiring collection,
reporting and disclosure of POTVs to certain healthcare providers, entities and individuals. These Applicable Laws may include relevant
provisions of the Patient Protection and Affordable Health Care Act of 2010 and implementing regulations thereunder.

 

9.7
Destruction of Confidential Information. Upon expiration or termination of the Agreement, the receiving Party shall, upon request
by the other Party, immediately destroy or return all of the other Party’s Confidential Information relating solely to its Study
Drug as a monotherapy (but not to the Combined Therapy or the Combined Therapy Study Data) in its possession; provided, however,
that the receiving Party shall be entitled to retain one (1) copy of Confidential Information solely for record-keeping purposes
and shall not be required to destroy any Confidential Information required, or reasonably necessary, to be retained for any clinical
trial activities that continue after expiration or termination, or off-site computer files created during automatic system back up which
are subsequently stored securely by the receiving Party.

 

    Page 31 of 42

     

    

 

9.8
Nonsolicitation of Employees. Each Party agrees that, as of the Effective Date and during the conduct of the Combined Therapy Study
and for six (6) months thereafter, neither it nor any of its Affiliates shall recruit, solicit or induce any employee of the other Party
directly involved in the development or other activities conducted by the other Party under this Agreement to terminate his or her employment
with such other Party and become employed by or consult for such other Party, whether or not such employee is a full-time employee of
such other Party, and whether or not such employment is pursuant to a written agreement or is at-will. For purposes of the foregoing,
“recruit”, “solicit” or “induce” shall not be deemed to mean (a) circumstances where an employee
of one Party initiates contact with the other Party or any of its Affiliates with regard to possible employment, or (b) general
solicitations of employment not specifically targeted at employees of a Party or any of its Affiliates, including responses to general
advertisements.

 

Article
10

REPRESENTATIONS AND WARRANTIES

 

10.1
Authority and Binding Agreement. Each Party represents and warrants to the other Party that (a) it has the corporate power and
authority and the legal right to enter into this Agreement and perform its obligations hereunder, (b) it has taken all necessary
corporate action on its part required to authorize the execution and delivery of the Agreement and the performance of its obligations
hereunder, and (c) the Agreement has been duly executed and delivered on behalf of such Party and constitutes a legal, valid and
binding obligation of such Party that is enforceable against it in accordance with its terms subject to bankruptcy, insolvency, reorganization,
arrangement, winding-up, moratorium, and similar laws of general application affecting the enforcement of creditors’ rights generally,
and subject to general equitable principles, including the fact that the availability of equitable remedies, such as injunctive relief
or specific performance, is in the discretion of the court.

 

10.2
No Conflicts. Each Party represents and warrants to the other Party that, to the best of its knowledge as of the Effective Date,
it has not entered, and shall not enter, into any agreement with any Third Party that is in conflict with the rights granted to the other
Party under this Agreement, and has not taken any action that would in any way prevent it from granting the rights granted to the other
Party under this Agreement, or that would otherwise materially conflict with or adversely affect the rights granted to the other Party
under this Agreement.

 

10.3
Litigation. Each Party represents and warrants to the other Party, to the best of its knowledge as of the Effective Date, it is not
aware of any pending or threatened litigation (and has not received any written communication) that alleges that its activities related
to this Agreement have violated, or that by conducting the activities as contemplated in this Agreement it would violate, any of the
intellectual property rights of any other Person (after giving effect to the license grants in this Agreement).

 

10.4
No Adverse Proceedings. Each Party represents and warrants to the other Party that, except as otherwise notified to the other Party,
as of the Effective Date, there is not pending or, to the knowledge of such Party, threatened, against such Party, any claim, suit, action
or governmental proceeding that would, if adversely determined, materially impair the ability of such Party to perform its obligations
under this Agreement.

 

10.5
Consents. Each Party represents and warrants to the other Party that, to the best of its knowledge, all necessary consents, approvals
and authorizations of all regulatory and governmental authorities and other Persons (a) required as of the Effective Date to be
obtained by such Party in connection with the execution and delivery of this Agreement have been obtained (or will have been obtained
prior to such execution and delivery) and (b) required to be obtained by such Party in connection with the performance of its obligations
under this Agreement have been obtained or will be obtained prior to such performance.

 

    Page 32 of 42

     

    

 

10.6
No Debarment. Each Party hereby certifies to the other that it has not used, and will not use the services of any person disqualified,
debarred, banned, subject to debarment or convicted of a crime for which a person could be debarred by the FDA under 21 U.S.C. 335a,
as amended (or subject to a similar sanction of any other Regulatory Authority), in any capacity in connection with any of the services
or work provided under the Combined Therapy Study and that this certification may be relied upon in any applications to the FDA or any
other Regulatory Authority. It is understood and agreed that this certification imposes a continuing obligation upon each Party to notify
the other promptly of any change in the truth of this certification. Upon request by a Party, the other Party agrees to provide a list
of persons used to perform the services or work provided under any activities conducted for or on behalf of such Party or any of its
Affiliates pursuant to this Agreement who, within the [***] preceding the Effective Date, or subsequent to the Effective Date, were or
are convicted of one of the criminal offenses required by 21 U.S.C. 335a, as amended, to be listed in any application for approval of
an abbreviated application for drug approval.

 

10.7
Compliance with Applicable Law. Each Party represents, warrants and covenants to the other Party that it shall comply with all Applicable
Law of the country or other jurisdiction, or any court or agency thereof, applicable to the performance of its activities hereunder or
any obligation or transaction hereunder, including those pertaining to the production and handling of drug products, such as those set
forth by the Regulatory Authorities, as applicable, and the applicable terms of this Agreement in the performance of its obligations
hereunder.

 

10.8
Affiliates. Each Party represents and warrants to the other Party that, to the extent the intellectual property, Regulatory Documentation
or Technology licensed by it hereunder are Controlled by its Affiliates or a Third Party, it has the right to use, and has the right
to grant (sub)licenses to the other Party to use, such intellectual property, Regulatory Documentation or Technology in accordance with
the terms of this Agreement.

 

10.9
Ethical Business Practices. Each Party represents and warrants to the other Party that neither it nor its Affiliates will make any
payment, either directly or indirectly, of money or other assets, including the compensation such Party derives from this Agreement (collectively
a “Payment”), to government or political party officials, officials of International Public Organizations,
candidates for public office, or representatives of other businesses or persons acting on behalf of any of the foregoing (collectively
“Officials”) where such Payment would constitute violation of any law, including the Foreign Corrupt Practices
Act of 1977, 15 U.S.C. §§ 78dd-1, et seq. In addition, regardless of legality, neither it nor its Affiliates will make any
Payment either directly or indirectly to Officials if such Payment is for the purpose of improperly influencing decisions or actions
with respect to the subject matter of this Agreement. All activities will be conducted in compliance with the U.S. False Claims Act and
the U.S. Anti-Kickback Statute.

 

10.10
Accounting. Each Party represents and warrants to the other Party that all transactions under the Agreement shall be properly and
accurately recorded in all material respects on its books and records and that each document upon which entries in such books and records
are based is complete and accurate in all material respects.

 

10.11
Study Drug Safety Issues. Each Party represents and warrants that, to the best of its knowledge as of the Effective Date, it is not
aware of any material safety or toxicity issue with respect to its Study Drug that is not reflected in the investigator’s brochure
for its Study Drug existing as of the Effective Date.

 

10.12
Compliance with Licensor Agreements. Each Party will use, and will cause its Affiliates to use, Commercially Reasonable Efforts to
comply with its obligations under any agreements entered into by it or its Affiliates with a Third Party under which it is licensed any
intellectual property rights or confidential information relating to a Study Drug (and not to voluntarily terminate same) to the extent
necessary for the Combined Therapy Study to be conducted and completed in accordance with the terms of this Agreement and for the other
Party to receive the rights and benefits provided to it under this Agreement.

 

    Page 33 of 42

     

    

 

10.13
DISCLAIMER OF WARRANTY.  THE EXPRESS REPRESENTATIONS AND WARRANTIES STATED IN THIS ARTICLE 10 ARE IN LIEU OF, AND THE PARTIES DO
HEREBY DISCLAIM, ALL OTHER REPRESENTATIONS AND WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS
FOR A PARTICULAR PURPOSE OR USE, AND NON-INFRINGEMENT OF THIRD PARTY INTELLECTUAL PROPERTY RIGHTS.

 

Article
11

INDEMNIFICATION

 

11.1
BMS Indemnification. BMS hereby agrees to defend, hold harmless and indemnify (collectively, “Indemnify”)
the Recipient, its Affiliates, and its and their agents, directors, officers, employees and subcontractors (the “Recipient
Indemnitees”) from and against any and all liabilities, expenses and/or losses, including reasonable legal expenses and
attorneys’ fees (collectively “Losses”) resulting from Third Party suits, claims, actions and demands
(each, a “Third Party Claim”) to the extent that they arise or result from (a) the negligence or intentional
misconduct of any BMS Indemnitee or any (sub)licensee of BMS conducting activities on behalf of BMS under this Agreement, (b) any
breach by BMS of any provision of this Agreement, (c) any injury to a subject in the Combined Therapy Study to the extent caused
solely by the BMS Study Drug, or (d) the use by BMS, its Affiliates, contractors or (sub)licensees of Combined Therapy Study Data,
BMS Study Data, BMS Study Inventions, BMS Study Patent Rights, Combined Therapy Inventions and Combined Therapy Patent Rights (other
than with respect to Third Party Claims that are covered under Section 6.4); but excluding, in each case ((a) through (d)), any
such Losses to the extent Recipient is obligated to Indemnify the BMS Indemnitees pursuant to Section 11.2.

 

11.2
Recipient Indemnification. The Recipient hereby agrees to Indemnify BMS, its Affiliates, and its and their agents, directors, officers,
employees and subcontractors (the “BMS Indemnitees”) from and against any and all Losses resulting from Third
Party Claims to the extent that they arise or result from (a) the negligence or intentional misconduct of any Recipient Indemnitee
or any (sub)licensee of the Recipient conducting activities on behalf of the Recipient under this Agreement, (b) any breach by the
Recipient of any provision of this Agreement, (c) any injury to a subject in the Combined Therapy Study to the extent not caused
solely by the BMS Study Drug, or (d) the use by the Recipient, its Affiliates, contractors or (sub)licensees of Combined Therapy
Study Data, Recipient Study Data, Recipient Study Inventions, Recipient Study Patent Rights, Combined Therapy Inventions and Combined
Therapy Patent Rights (other than with respect to Third Party Claims that are covered under Section 6.4); but excluding, in each
case ((a) through (d)), any such Losses to the extent BMS is obligated to Indemnify the Recipient Indemnitees pursuant to Section 11.1.

 

11.3
Indemnification Procedure. Each Party’s agreement to Indemnify the other Party is conditioned on the performance of the following
by the Party seeking indemnification: (a) providing written notice to the Indemnifying Party of any Loss and/or Third Party Claim
of the types set forth in Section 11.1 and 11.2 promptly, and in any event within [***] days, after the Party seeking indemnification
has knowledge of such Loss and/or Third Party Claim; provided that, any delay in complying with the requirements of this clause
(a) will only limit the Indemnifying Party’s obligation to the extent of the prejudice caused to the Indemnifying Party by such
delay, (b) permitting the Indemnifying Party to assume full responsibility to investigate, prepare for and defend against any such
Loss and/or Third Party Claim, (c) providing reasonable assistance to the Indemnifying Party, at the Indemnifying Party’s
expense, in the investigation of, preparation for and defense of any Loss and/or Third Party Claim, and (d) not compromising or
settling such Loss and/or Third Party Claim without the Indemnifying Party’s written consent, such consent not to be unreasonably
withheld or delayed.

 

    Page 34 of 42

     

    

 

11.4
Separate Defense of Claims. In the event that the Parties cannot agree as to the application of Sections 11.1 and/or 11.2 to
any particular Loss, the Parties may conduct separate defenses of such Loss. Each Party further reserves the right to claim indemnity
from the other in accordance with Sections 11.1 and/or 11.2 upon resolution of the underlying claim, notwithstanding the provisions
of Section 11.3(b).

 

11.5
Insurance. Each Party shall maintain commercially reasonable levels of insurance or other adequate and commercially reasonable forms
of protection or self-insurance to satisfy its indemnification obligations under this Agreement. Each Party shall provide the other Party
with written notice at least [***] days prior to the cancellation, non-renewal or material change in such insurance or self-insurance
which would materially adversely affect the rights of the other Party hereunder. The maintenance of any insurance shall not constitute
any limit or restriction on damages available to a Party under this Agreement.

 

11.6
LIMITATION OF LIABILITY. NEITHER PARTY SHALL BE LIABLE TO THE OTHER PARTY FOR INDIRECT, INCIDENTAL, CONSEQUENTIAL OR SPECIAL DAMAGES,
INCLUDING LOST PROFITS, ARISING FROM OR RELATING TO THIS AGREEMENT AND/OR SUCH PARTY’S PERFORMANCE HEREUNDER, REGARDLESS OF ANY
NOTICE OF THE POSSIBILITY OF SUCH DAMAGES AND REGARDLESS OF THE CAUSE OF ACTION (WHETHER IN CONTRACT, TORT, BREACH OF WARRANTY OR OTHERWISE).
NOTHING IN THIS SECTION 11.6 IS INTENDED TO LIMIT OR RESTRICT THE INDEMNIFICATION RIGHTS OR OBLIGATIONS OF A PARTY UNDER SECTION 11.1
OR 11.2, OR THE LIABILITY OF A PARTY FOR BREACHES OF CONFIDENTIALITY OBLIGATIONS IN ARTICLE 9.

 

Article
12

 

TERM
AND TERMINATION

 

12.1
Term. The term of this Agreement (the “Term”) shall begin on the Effective Date and, unless earlier terminated
pursuant to Section 12.2, 12.3 or 12.4 or any other termination right expressly stated in this Agreement, shall expire upon completion
of the Combined Therapy Study by all centers participating in the Combined Therapy Study, delivery of all Study Data, including all completed
case report forms, all final analyses and all final clinical study reports contemplated by the Combined Therapy Study to both Parties,
and the completion of any statistical analyses and bioanalyses contemplated by the Protocol or otherwise agreed to by the Parties to
be conducted under this Agreement.

 

12.2
Termination for Material Breach.

 

(a)
Notice and Cure Period. If a Party (the “Breaching Party”) is in material breach of its obligations under
this Agreement, the other Party (the “Non-Breaching Party”) shall have the right to give the Breaching Party
notice specifying the nature of such material breach. The Breaching Party shall have a period of [***] days after receipt of such notice
to cure such material breach (the “Cure Period”) in a manner reasonably acceptable to the Non-Breaching Party.
For the avoidance of doubt, this provision is not intended to restrict in any way either Party’s right to notify the other Party
of any other breach or to demand the cure of any other breach.

 

(b)
Termination Right. The Non-Breaching Party shall have the right to terminate this Agreement, upon written notice, in the event that
the Breaching Party has not cured such material breach within the Cure Period, provided, however, that if such breach is capable
of cure but cannot be cured within the Cure Period, and the Breaching Party commences actions to cure such material breach within the
Cure Period and thereafter diligently continue such actions, the Breaching Party shall have an additional thirty [***] days to cure such
breach. If a Party contests such termination pursuant to the dispute resolution procedures under Section 13.3, such termination
shall not be effective until a conclusion of the dispute resolution procedures in Section 13.3, as applicable, resulting in a determination
that there has been a material breach that was not cured within the Cure Period (which Cure Period shall be tolled for the period from
notice of such dispute until resolution of such dispute pursuant to Section 13.3 or abandonment of such dispute by the disputing
Party).

 

    Page 35 of 42

     

    

 

12.3
Termination for Bankruptcy. Either Party may terminate this Agreement if, at any time, the other Party shall file in any court or
agency pursuant to any statute or regulation of any state, country or jurisdiction, a petition in bankruptcy or insolvency or for reorganization
or for an arrangement or for the appointment of a receiver or trustee of such other Party or of such other Party’s assets, or if
the other Party proposes a written agreement of composition or extension of its debts, or if the other Party shall be served with an
involuntary petition against it, filed in any insolvency proceeding, and such petition shall not be dismissed or stayed within [***]
days after the filing thereof, or if the other Party will propose or be a party to any dissolution or liquidation, or if the other Party
shall make an assignment for the benefit of its creditors.

 

12.4
Termination due to Material Safety Issue; Clinical Hold.

 

(a)
Either Party shall have the right to terminate this Agreement immediately (after meeting and discussing with the other Party in good
faith as described in the following sentence) upon written notice if it deems it necessary to protect the safety, health or welfare of
subjects enrolled in the Combined Therapy Study due to the existence of a Material Safety Issue. In the event of a termination due to
a Material Safety Issue, prior to the terminating Party providing written notice, each Party’s safety committee shall, to the extent
practicable, meet and discuss in good faith the safety concerns raised by the terminating Party and consider in good faith the input,
questions and advice of the non-terminating Party, but should any dispute arise in such discussion, the dispute resolution processes
set forth in Section 13.3 shall not apply to such dispute and the terminating Party shall have the right to issue such notice and
such termination shall take effect without the Parties first following the procedures set forth in Section 13.3.

 

(b)
If a Clinical Hold with respect to either the BMS Study Drug or the Recipient FDC should arise at any time after the Effective Date,
the Parties will meet and discuss the basis for the Clinical Hold, how long the Clinical Hold is expected to last, and how they might
address the issue that caused the clinical hold. If, after [***] days of discussions following the Clinical Hold, either Party reasonably
concludes that the issue adversely impacts the Combined Therapy Study and is not solvable or that unacceptable and material additional
costs/delays have been and/or will continue to be incurred in the conduct of the Combined Therapy Study, then such Party may immediately
terminate this Agreement.

 

12.5
Effect of Termination. Upon expiration or termination of this Agreement, (a) the licenses granted to the Recipient to conduct
the Combined Therapy Study in Section 3.1(a) (and any sublicenses granted thereunder pursuant to Section 3.3) shall terminate,
and (b) the Parties shall use reasonable efforts to wind down activities under this Agreement in a reasonable manner and avoid incurring
any additional expenditures or non-cancellable obligations; provided that, in the case of termination pursuant to Section 12.4,
the Recipient may continue to dose subjects enrolled in the Combined Therapy Study, and BMS shall supply the BMS Study Drug for such
purpose, through completion of the Combined Therapy Protocol if dosing is required by the applicable Regulatory Authority(ies) and/or
Applicable Law. Any such wind-down activities will include the return to BMS, or destruction, of all BMS Study Drug provided to the Recipient
and not consumed in the Combined Therapy Study, except in the event that the Recipient terminates this Agreement pursuant to Section 12.2
or 12.3, in which case the Recipient shall continue to have the right to use any BMS Study Drug provided to Recipient for the conduct
of the Combined Therapy Study.

 

    Page 36 of 42

     

    

 

12.6
Survival. The following Articles and Sections of this Agreement and all definitions relating thereto shall survive any expiration
or termination of this Agreement for any reason: Section 2.1(b), Section 2.4, Sections 5.1(e)-5.1(h), Section 5.1(j),
Section 5.1(k), Section 5.1(o), Article 6 (“Intellectual Property”), Article 7 (“Costs
and Expenses), Article 8 (“Records and Study Data”), Article 9 (“Confidentiality”);
Article 10 (“Representations and Warranties”), Article 11 (“Indemnification”), Section 12.5
(“Effect of Termination”), Section 12.6 (“Survival”), Section 13.1 (“Entire
Agreement”), Section 13.2 (“Governing Law”), Section 13.3 (“Dispute Resolution”),
Section 13.4 (“Injunctive Relief”), Section 13.6 (“Notices”), Section 13.7 (“No
Waiver, Modifications”), Section 13.8 (“No Strict Construction”), Section 13.9 (“Independent
Contractor”), Section 13.10 (“Assignment”), Section 13.11 (“Headings”), Section 13.13
(“Severability”), Section 13.15 (“No Benefit to Third Parties”), and Section 13.16 (“Construction”).

 

Article
13

 

MISCELLANEOUS

 

13.1
Entire Agreement. The Parties acknowledge that this Agreement shall govern all activities of the Parties with respect to the Combined
Therapy Study from the Effective Date forward. This Agreement, including the Exhibits hereto and together with the Supply and Quality
Documentation, sets forth the complete, final and exclusive agreement between the Parties concerning the subject matter hereof and supersedes
all prior agreements and understandings between the Parties with respect to such subject matter. There are no covenants, promises, agreements,
warranties, representations, conditions or understandings, either oral or written, between the Parties with respect to such subject matter
other than as are set forth in this Agreement. All Exhibits attached hereto are incorporated herein as part of this Agreement.

 

13.2
Governing Law. This Agreement shall be governed and construed in accordance with the internal laws of the State of New York, USA,
excluding any choice of law rules that may direct the application of the laws of another jurisdiction.

 

13.3
Dispute Resolution.

 

(a)
The Parties’ Designated Clinical Contacts (for clinical and regulatory matters) and the Parties’ Designated Supply Contacts
(for supply matters) shall attempt in good faith to resolve any dispute or concern that either Party may bring to the other Party’s
attention.

 

(b)
In the event of any dispute, controversy or claim arising out of, relating to or in connection with any provision of this Agreement
(each a “Dispute”), other than a Publication Dispute, an IP Dispute or a dispute as to whether a Material Safety
Issue exists, which Dispute cannot be resolved by the applicable Designated Contacts of each Party within a period of [***] days, then
upon the request of either Party by written notice, the Parties shall refer such Dispute to the Executive Officers. This Agreement shall
remain in effect during the pendency of any such Dispute. In the event that no resolution is made by the Executive Officers (or their
designee) in good faith negotiations within [***] days after such referral to them, then:

 

(i)
if such Dispute constitutes an Arbitration Matter, such Dispute shall be resolved through arbitration in accordance with the remainder
of this Section 13.3; provided, however, that with respect to any such Dispute that constitutes an Arbitration
Matter and relates to a matter described in Section 13.4, either Party shall have the right to seek an injunction or other equitable
relief without waiting for the expiration of such [***]-period;

 

(ii)
if such Dispute constitutes a Publication Dispute, the specific dispute resolution processes contained in Section 9.5(b) will
apply;

 

    Page 37 of 42

     

    

 

(iii)
if such Dispute regards the supply, quality or compliance with specifications of the Recipient FDC, the Dispute will be resolved
by the Recipient; provided that (A) the Recipient shall have no authority to amend, change or waive compliance with this
Agreement, which matters may be approved only by the written consent of both Parties, and (B) all determinations made by the Recipient
shall be consistent with the terms of this Agreement; and

 

(iv)
if such Dispute regards the supply, quality or compliance with specifications of the BMS Study Drug, the Dispute will be resolved
by BMS; provided that (A) BMS shall have no authority to amend, change or waive compliance with this Agreement, which matters
may be approved only by the written consent of both Parties, and (B) all determinations made by BMS shall be consistent with the
terms of this Agreement.

 

(c)
If a Dispute that constitutes an Arbitration Matter remains unresolved after escalation to the Executive Officers as described above,
either Party may refer the matter to arbitration as described herein. Any arbitration of an Arbitration Matter under this Agreement shall
be conducted under the auspices of the American Arbitration Association by a panel of three (3) arbitrators pursuant to that organization’s
Commercial Arbitration Rules then in effect. The fees and expenses of the arbitrators shall be borne in equal shares by the Parties.
Each Party shall bear the fees and expenses of its legal representation in the arbitration. The arbitral tribunal shall not reallocate
either the fees and expenses of the arbitrators or of the Parties’ legal representation. The arbitration shall be held in New York,
New York, USA, which shall be the seat of the arbitration. The language of the arbitration shall be English. The determination of the
arbitral tribunal shall be final and binding on the Parties and enforceable in any court of competent jurisdiction.

 

(d)
Notwithstanding the foregoing or any other provision of this Agreement to the contrary, either Party may bring an action in any court
or patent office of competent jurisdiction to resolve disputes pertaining to the validity, construction, scope, enforceability, infringement
or other violations of Patent Rights or other intellectual property rights (an “IP Dispute”), and no such claim
shall be subject to arbitration pursuant to the preceding provisions of this Section 13.3.

 

13.4
Injunctive Relief. Notwithstanding anything herein to the contrary, a Party may seek an injunction or other injunctive relief from
any court of competent jurisdiction in order to prevent immediate and irreparable injury, loss or damage on a provisional basis. For
the avoidance of doubt, if either Party (a) discloses Confidential Information of the other Party other than as permitted under
Article 9, (b) uses (in the case of the Recipient) the BMS Study Drug or BMS Technology or (in the case of BMS) the Recipient
FDC or Recipient Technology, in any manner other than as expressly permitted under this Agreement or (c) otherwise is in material
breach of this Agreement and such material breach could cause immediate harm to the value of the Recipient FDC (if BMS is in material
breach) or the BMS Study Drug (if the Recipient is in material breach), the other Party shall have the right to seek an injunction or
other equitable relief precluding the other Party from continuing its activities related to the Combined Therapy Study without waiting
for the conclusion of the dispute resolution procedures under Section 13.3.

 

13.5
Force Majeure. The Parties shall be excused from the performance of their obligations under this Agreement (other than the payment
of monies owed to the other Party) to the extent that such performance is prevented by force majeure and the non-performing Party promptly
provides notice of the prevention to the other Party. Such excuse shall be continued so long as the condition constituting force majeure
continues and the nonperforming Party takes reasonable efforts to remove the condition. For purposes of this Agreement, force majeure
shall mean acts of God, strikes or other concerted acts of workers, civil disturbances, fires, earthquakes, acts of terrorism, floods,
explosions, riots, war, rebellion, sabotage or failure or default of public utilities or common carriers or similar conditions beyond
the control of the Parties.

 

    Page 38 of 42

     

    

 

13.6
Notices. Any notice required or permitted to be given under this Agreement shall be in writing, shall specifically refer to this
Agreement and shall be deemed to have been sufficiently given for all purposes if such notice is timely and is: (a) mailed by certified
or registered mail, postage prepaid, return receipt requested, (b) sent by express delivery service, or (c) personally delivered.
Unless otherwise specified in writing, the mailing addresses of the Parties shall be as described below.

 

	For the Recipient:	Intensity Therapeutics, Inc.
	 	61 Wilton Road
	 	3rd Floor
	 	Westport, CT 06880
	 	

Attention:
Chief Executive Officer

	 	 
	With a copy to:	Cooley LLP
	 	

4401
Eastgate Mall

	 	San Diego, CA 92121
	 	Attention: Jane K. Adams
	 	 
	For BMS:	Bristol-Myers Squibb Company
	 	

Route
206 and Province Line Road

	 	

Princeton,
NJ 08543-4000

	 	Attention: VP, Business Development
	 	 
	With a copy to:	Bristol-Myers Squibb Company
	 	Route 206 and Province Line Road
	 	Princeton, NJ 08543-4000
	 	

Attention:
VP & Assistant General Counsel, Business Development

 

Any
such communication shall be deemed to have been received when delivered. It is understood and agreed that this Section 13.6 is not
intended to govern the day-to-day business communications necessary between the Parties in performing their duties, in due course, under
the terms of this Agreement.

 

13.7
No Waiver; Modifications. It is agreed that no waiver by a Party hereto of any breach or default of any of the covenants or agreements
herein set forth shall be deemed a waiver as to any subsequent and/or similar breach or default. No amendment, modification, release
or discharge shall be binding upon the Parties unless in writing and duly executed by authorized representatives of both Parties.

 

13.8
No Strict Construction. This Agreement has been prepared jointly and shall not be strictly construed against either Party. No presumption
as to construction of this Agreement shall apply against either Party with respect to any ambiguity in the wording of any provision(s)
of this Agreement irrespective of which Party may be deemed to have authored the ambiguous provision(s).

 

13.9
Independent Contractor. The Parties are independent contractors of each other, and the relationship between the Parties shall not
constitute a partnership, joint venture or agency. Neither Party shall be the agent of the other or have any authority to act for, or
on behalf of, the other Party in any matter.

 

13.10
Assignment. Neither Party may assign or transfer this Agreement or any rights or obligations hereunder without the prior written
consent of the other Party, except that a Party may make such an assignment without the other Party’s consent (i) to
an Affiliate, (ii) to a Third Party that merges with, consolidates with or acquires substantially all of the assets or voting control
of the assigning Party or (iii) to a Third Party that acquires all the rights of the assigning Party to the Recipient FDC, in the
case of the Recipient, or the BMS Study Drug, in the case of BMS. If assigned or transferred to an Affiliate, the assigning/transferring
Party shall remain jointly and severally responsible and liable with the assignee/transferee Affiliate for the assigned rights and/or
obligations. If assigned to a Third Party, any permitted successor or assignee of rights and/or obligations hereunder shall, in a writing
to the other Party, expressly assume performance of such rights and/or obligations. Any assignment or attempted assignment by any Party
in violation of the terms of this Section 13.10 shall be null and void and of no legal effect.

 

    Page 39 of 42

     

    

 

13.11
Headings. The captions to the several Sections and Articles hereof are not a part of this Agreement, but are included merely for
convenience of reference only and shall not affect its meaning or interpretation.

 

13.12
Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all
of which together shall constitute one (1) and the same instrument. This Agreement may be executed by facsimile or electronic (e.g.,
pdf) signatures and such signatures shall be deemed to bind each Party hereto as if they were original signature.

 

13.13
Severability. If any provision of this Agreement is held to be illegal, invalid or unenforceable under any present or future law,
and if the rights or obligations of a Party under this Agreement will not be materially and adversely affected thereby, (a) such
provision shall be fully severable, (b) this Agreement shall be construed and enforced as if such illegal, invalid or unenforceable
provision had never comprised a part hereof, (c) the remaining provisions of this Agreement shall remain in full force and effect
and shall not be affected by the illegal, invalid or unenforceable provision or by its severance herefrom and (d) in lieu of such
illegal, invalid or unenforceable provision, there shall be added automatically as a part of this Agreement a legal, valid and enforceable
provision as similar in terms to such illegal, invalid or unenforceable provision as may be possible and reasonably acceptable to the
Parties.

 

13.14
Further Assurance. Each Party shall duly execute and deliver, or cause to be duly executed and delivered, such further instruments
and do and cause to be done such further acts and things, including the filing of such assignments, agreements, documents and instruments,
as may be necessary or as the other Party may reasonably request in order to perfect any license, assignment or other transfer or any
properties or rights under, or pursuant, to this Agreement.

 

13.15
No Benefit to Third Parties. The representations, warranties and agreements set forth in this Agreement are for the sole benefit
of the Parties and their successors and permitted assigns, and they shall not be construed as conferring any rights on any other parties.

 

13.16
Construction. Except as otherwise explicitly specified to the contrary, (i) references to a Section, Article or Exhibit means
a Section or Article of, or Exhibit to, this Agreement and all subsections thereof, unless another agreement is specified, (ii) references
to a particular statute or regulation include all rules and regulations promulgated thereunder and any successor statute, rules or regulations
then in effect, in each case including the then-current amendments thereto, (iii) words in the singular or plural form include the
plural and singular form, respectively, (iv) the terms “including,” “include(s),” “such as,”
and “for example” used in this Agreement mean including the generality of any description preceding such term and will be
deemed to be followed by “without limitation”, (v) the words “hereof,” “herein,” “hereunder,”
“hereby” and derivative or similar words refer to this Agreement, (vi) “or” is used in the conjunctive (“and/or”)
unless the context requires otherwise, (vii) “will” and “shall” are synonyms, and (viii) days means
[***] days. No presumption as to construction of this Agreement shall apply against either Party with respect to any ambiguity in the
wording of any provision(s) of this Agreement irrespective of which Party may be deemed to have authored the ambiguous provision(s).

 

[Signature
page follows] 

 

    Page 40 of 42

     

    

 

IN
WITNESS WHEREOF, the Parties, intending to be legally bound hereby, have caused this Agreement to be executed by their duly authorized
representatives as of the Effective Date.

 

	Intensity Therapeutics,
    Inc. 	 	Bristol-Myers Squibb
    Company
	 	 	 
	By:	/s/
    Lewis Bender	 	By: 	/s/
    *
	Name:	Lewis
    Bender	 	Name: 	*
	Title: 	President
    and CEO	 	Title: 	*
	Date: 	April
    10, 2020	 	Date: 	April
    13, 2020

 

    Page 41 of 42

     

    

 

Exhibit
Index

 

Attached:

 

Appendix
A: Draft Combined Therapy Protocol

Appendix
B: Press Release

Appendix
C: Territory

 

    Page 42 of 42

     

    

 

APPENDIX
A

 

COMBINED
THERAPY PROTOCOL 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

APPENDIX
B

 

PRESS
RELEASE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

APPENDIX
C

 

TERRITORYExhibit 10.8

 

[CERTAIN INFORMATION IN THIS EXHIBIT IDENTIFIED
BY [***] IS CONFIDENTIAL AND HAS BEEN EXCLUDED BECAUSE IT (I) IS NOT MATERIAL AND (II) THE REGISTRANT CUSTOMARILY AND ACTUALLY TREATS
THAT INFORMATION AS PRIVATE OR CONFIDENTIAL.]

 

CLINICAL TRIAL COLLABORATION AND SUPPLY AGREEMENT

 

by and between

 

MSD International GmbH,

 

and

 

Intensity Therapeutics, Inc.

 

Dated: June 21, 2019

 

     

     

    

 

TABLE OF CONTENTS

 

	 	 	Page

	 	 	 
	1.	Definitions	1
	 	 	 
	2.	Scope of the Agreement.	7
	 	2.1.	Generally	7
	 	2.2.	Clinical Safety Data Review	 
	 	2.3.	Manufacturing Delay.	7
	 	2.4.	Compound Commitments	7
	 	2.5.	Delegation of Obligations	7
	 	2.6.	Compounds	7
	 	 	 	 
	3.	Conduct of the Study	8
	 	3.1.	Sponsor	8
	 	3.2.	Performance	8
	 	3.3.	Debarred Personnel; Exclusions Lists	8
	 	3.4.	Regulatory Matters	8
	 	3.5.	Documentation	8
	 	3.6.	Copies	8
	 	3.7.	Sample Testing	9
	 	3.8.	Ownership and Use of Clinical Data	9
	 	3.9.	Regulatory Submission.	9
	 	3.10.	Joint Development Committee; Alliance Managers	9
	 	3.11.	Certain Memoranda and Reports	10
	 	3.12.	Relationship	10
	 	3.13.	Licensing	10
	 	3.14.	Subsequent Study	10
	 	 	 	 
	4.	Protocol and Informed Consent; Certain Covenants	11
	 	4.1.	Protocol	11
	 	4.2.	Informed Consent	11
	 	4.3.	Transparency Reporting.	11
	 	4.4.	Financial Disclosure.	12
	 	 	 	 
	5.	Adverse Event Reporting	12
	 	5.1.	Pharmacovigilance Agreement	12
	 	5.2.	Transmission of SAEs	12
	 	5.3.	Provision of Clinical Safety Data	12

 

    i

     

    

 

	6.	Term and Termination.	12
	 	6.1.	Term	12
	 	6.2.	MSD Termination for Safety	12
	 	6.3.	Termination for Material Breach	12
	 	6.4.	Termination for Patient Safety	13
	 	6.5.	Termination for Regulatory Action; Other Reasons	13
	 	6.6.	Termination related to Anti-Corruption Obligations	13
	 	6.7.	Return of MSD Compound	13
	 	6.8.	Survival	13
	 	6.9.	No Prejudice	13
	 	6.10.	Confidential Information	13
	 	6.11.	Manufacturing Costs	14
	 	 	 	 
	7.	Costs of Study	14
	 	 	 
	8.	Supply and Use of the Compounds	14
	 	8.1.	Supply of the Compounds	14
	 	8.2.	Clinical Quality Agreement	14
	 	8.3.	Minimum Shelf Life Requirements	14
	 	8.4.	Provision of Compounds	14
	 	8.5.	Labeling and Packaging; Use, Handling and Storage	14
	 	8.6.	Product Specifications	15
	 	8.7.	Changes to Manufacturing	15
	 	8.8.	Product Testing; Noncompliance	15
	 	8.9.	Investigations	16
	 	8.10.	Shortage; Allocation	16
	 	8.11.	Records; Audit Rights	16
	 	8.12.	Quality	16
	 	8.13.	Quality Control	16
	 	8.14.	Audits and Inspections	16
	 	8.15.	Recalls	16
	 	8.16.	VAT	16
	 	 	 	 
	9.	Confidentiality	17
	 	9.1.	Confidential Information	17
	 	9.2.	Inventions	17
	 	9.3.	Personal Identifiable Data	17
	 	9.4.	Publicity/Use of Names	17

 

    ii

     

    

 

	10.	Intellectual Property	17
	 	10.1.	Joint Ownership, Prosecution and Enforcement	19
	 	10.2.	Inventions Owned by Intensity	19
	 	10.3.	Inventions Owned by MSD	19
	 	10.4.	Mutual Freedom to Operate for Combination Inventions	19
	 	10.5.	Ownership of Other Inventions	19
	 	 	 	 
	11.	Reprints; Rights of Cross-Reference	19
	 	 	 
	12.	Publications; Press Releases	19
	 	12.1.	Clinical Trial Registry	19
	 	12.2.	Publication	20
	 	12.3.	Press Releases	20
	 	 	 	 
	13.	Representations and Warranties; Disclaimers	20
	 	13.1.	Due Authorization	20
	 	13.2.	Compounds	20
	 	13.3.	Results	20
	 	13.4.	Anti-Corruption	21
	 	13.5.	DISCLAIMER	22
	 	 	 	 
	14.	Insurance; Indemnification; Limitation of Liability	22
	 	14.1.	Insurance	22
	 	14.2.	Indemnification	22
	 	14.3.	LIMITATION OF LIABILITY	23
	 	 	 	 
	15.	Use of Name	23
	 	 	 
	16.	Force Majeure	23
	 	 	 
	17.	Entire Agreement; Amendment; Waiver	23
	 	 	 
	18.	Assignment and Affiliates	23
	 	 	 
	19.	Invalid Provision	23
	 	 	 
	20.	No Additional Obligations	23
	 	 	 
	21.	Governing Law; Dispute Resolution	24
	 	 	 
	22.	Notices	24
	 	 	 
	23.	Relationship of the Parties	24
	 	 	 
	24.	Counterparts and Due Execution	25
	 	 	 
	25.	Construction	25

 

    iii

     

    

 

	Appendices
	Appendix A	 – Protocol Synopsis
	Appendix B	 – Supply of Compound
	Appendix C 	– Form of Intensity Press Release
	 	 
	
    Schedules

	
    Schedule I
	 – Data Sharing Schedule

    

	Schedule II 	– Sample Testing Schedule

 

    iv

     

    

 

CLINICAL TRIAL COLLABORATION AND SUPPLY AGREEMENT

 

This CLINICAL TRIAL COLLABORATION
AND SUPPLY AGREEMENT (this “Agreement”), is entered into as of June 21, 2019 (the “Effective Date”),
by and between MSD International GmbH, having a place of business at Weystrasse 20, 6000 Luzern 6, Switzerland (“MSD”),
and Intensity Therapeutics, Inc., having a place of business at 61 Wilton Road, 3rd Floor, Westport, CT 06880 USA (“Intensity”).
MSD and Intensity are each referred to herein individually as “Party” and collectively as “Parties”.

 

RECITALS

 

A.
MSD holds intellectual property rights with respect to the MSD Compound (as defined below).

 

B.
Intensity is developing the Intensity Compound (as defined below) for the treatment of certain tumor types.

 

C.
MSD is developing the MSD Compound for the treatment of certain tumor types.

 

D.
Intensity desires to sponsor a clinical trial in which the Intensity Compound and the MSD Compound would be dosed concurrently
or in combination.

 

E.
MSD and Intensity, consistent with the terms of this Agreement, desire to collaborate as more fully described herein, including
by providing the MSD Compound and the Intensity Compound for the Study (as defined below).

 

NOW, THEREFORE, in consideration
of the premises and of the following mutual promises, covenants and conditions, the Parties, intending to be legally bound, mutually agree
as follows:

 

1.   
Definitions.

For all purposes of this Agreement, the capitalized terms defined in this Article 1 and throughout this Agreement shall have the
meanings herein specified.

 

1.1.
“Affiliate” means, with respect to either Party, a firm, corporation or other entity that, now or hereafter,
directly or indirectly owns or controls said Party, or, now or hereafter, is owned or controlled by said Party, or is under common ownership
or control with said Party. The word “control” as used in this definition means (a) the direct or indirect ownership
of fifty percent (50%) or more of the outstanding voting securities of a legal entity or (b) possession, directly or indirectly, of the
power to direct the management or policies of a legal entity, whether through the ownership of voting securities, contract rights, voting
rights, corporate governance or otherwise.

 

1.2.
“Agreement” means this agreement, as amended by the Parties from time to time, and as set forth in the preamble.

 

1.3.
“Alliance Manager” has the meaning set forth in Section 3.10.3.

 

1.4.
“Applicable Law” means all federal, state, local, national and regional statutes, laws, rules, regulations and
directives applicable to a particular activity hereunder, including performance of clinical trials, medical treatment and the processing
and protection of personal and medical data, that may be in effect from time to time, including those promulgated by the United States
Food and Drug Administration (“FDA”), national regulatory authorities, the European Medicines Agency (“EMA”)
and any successor agency to the FDA or EMA or any agency or authority performing some or all of the functions of the FDA or EMA in any
jurisdiction outside the United States or the European Union (each a “Regulatory Authority” and collectively, “Regulatory
Authorities”), and including cGMP and GCP (each as defined below); Data Protection Law; export control and economic sanctions
regulations which prohibit the shipment of United States-origin products and technology to certain restricted countries, entities and
individuals; and anti-bribery and anti-corruption laws pertaining to interactions with government agents, officials and representatives;
laws and regulations governing payments to healthcare providers.

 

     

     

    

 

1.5.
“Business Day” means any day other than a Saturday, Sunday, or a day on which commercial banks located in the
country where the applicable obligations are to be performed are authorized or required by law to be closed.

 

1.6.
“cGMP” means the current Good Manufacturing Practices officially published and interpreted by EMA, FDA and other
applicable Regulatory Authorities that may be in effect from time to time and are applicable to the Manufacture of the Compounds.

 

1.7.
“Clinical Data” means all data (including raw data) and results generated by or on behalf of either Party or
at either Party’s direction, or by or on behalf of the Parties together or at their direction, in the course of the performance
of the Study. Notwithstanding the foregoing, Clinical Data does not include [***]. For clarity, Clinical Data excludes [***].

 

1.8.
“Clinical Quality Agreement” has the meaning set forth in Section 8.2.

 

1.9.
“Clinical Safety Data” means all safety and tolerability data from the Monotherapy Arm(s) of the Intensity Clinical
Trial involving the Intensity Compound, which data is presented at Intensity’s safety review meeting and include safety reports
containing information on adverse events, SAEs, and any FDA-reporting requirements, including summary tables of laboratory and radiographic
data.

 

1.10.
“CMC” means “Chemistry Manufacturing and Controls” as such term of art is used in the pharmaceutical
industry.

 

1.11.
“Combination” means the use or method of using the Intensity Compound and the MSD Compound [***].

 

1.12.
“Compounds” means the Intensity Compound and the MSD Compound. A “Compound” means either
the Intensity Compound or the MSD Compound, as applicable.

 

1.13.
“Confidential Information” means any information (including personal data), Know-How or other proprietary information
or materials furnished to one Party (“Receiving Party”) by or on behalf of the other Party (“Disclosing Party”)
in connection with this Agreement, except to the extent that [***]such information or materials: (a) were already known to the Receiving
Party, other than under an obligation of confidentiality, at the time of disclosure by the Disclosing Party, as demonstrated by competent
evidence; (b) were generally available to the public or otherwise part of the public domain at the time of its disclosure to the Receiving
Party; (c) became generally available to the public or otherwise part of the public domain after its disclosure and other than through
any act or omission of the Receiving Party in breach of this Agreement; (d) were disclosed to the Receiving Party by a Third Party who
had no obligation to the Disclosing Party not to disclose such information to others; or (e) were subsequently developed by the Receiving
Party without use of the Disclosing Party Confidential Information[***].

 

1.14.
“Continuing Party” has the meaning set forth in Section 10.1.1(c).

 

1.15.
“Control” or “Controlled” means, with respect to particular information or intellectual property,
that the applicable Party owns, or has a license to [***] such information or intellectual property and has the ability to grant a right,
license or sublicense to the other Party as provided for herein [***].

 

1.16.
“CTA” means an application to a Regulatory Authority for purposes of requesting the ability to start or continue
a clinical trial.

 

1.17.
“Data Protection Agreement” has the meaning set forth in Section 3.6.

 

    2

     

    

 

1.18.
“Data Protection Law” means any applicable data protection or privacy laws to which a Party, as applicable,
is subject in connection with this Agreement.

 

1.19.
“Data Sharing Schedule” means the schedule attached hereto as Schedule I.

 

1.20.
“Defending Party” has the meaning set forth in Section 14.2.3.

 

1.21.
“Delivery” with respect to the MSD Compound has the meaning set forth in Section 8.4.1, and with respect
to the Intensity Compound, the meaning set forth in Section 8.4.2.

 

1.22.
“Direct Manufacturing Costs” has the meaning set forth in Section 6.11.

 

1.23.
“Disclosing Party” has the meaning set forth in the definition of Confidential Information.

 

1.24.
“Disposition Package” has the meaning set forth in Section 8.8.1.

 

1.25.
“Effective Date” has the meaning set forth in the preamble.

 

1.26.
“EMA” has the meaning set forth in the definition of Applicable Law.

 

1.27.
“Exclusions List” has the meaning set forth in the definition of Violation.

 

1.28.
“FDA” has the meaning set forth in the definition of Applicable Law.

 

1.29.
“Filing Party” has the meaning set forth in Section 10.1.1(c).

 

1.30.
“Final Study Report” has the meaning set forth in Section 3.11.2.

 

1.31.
“Force Majeure” has the meaning set forth Section 16.

 

1.32.
“GAAP” has the meaning set forth in Section 6.11.

 

1.33.
“GCP” means the Good Clinical Practices officially published by EMA, FDA and the International Conference on
Harmonisation of Technical Requirements for Registration of Pharmaceuticals for Human Use (ICH) that may be in effect from time to time
and are applicable to the testing of the Compounds.

 

1.34.
“Government Official” means: (a) any officer or employee of a government or any department, agency or instrument
of a government; (b) any Person acting in an official capacity for or on behalf of a government or any department, agency, or instrument
of a government; (c) any officer or employee of a company or business owned in whole or part by a government; (d) any officer or employee
of a public international organization such as the World Bank or United Nations; (e) any officer or employee of a political party or any
Person acting in an official capacity on behalf of a political party; and/or (f) any candidate for political office; who, when such Government
Official is acting in an official capacity, or in an official decision-making role, has responsibility for performing regulatory inspections,
government authorizations or licenses, or otherwise has the capacity to make decisions with the potential to affect the business of either
of the Parties.

 

1.35.
“IND” means any Investigational New Drug Application filed or to be filed with the FDA as described in Title
21 of the U.S. Code of Federal Regulations, Part 312, and the equivalent application in the jurisdictions outside the United States, including
an “Investigational Medicinal Product Dossier” filed or to be filed with Regulatory Authorities in the European Union.

 

1.36.
“Indication” means [***].

 

1.37.
“Indirect Manufacturing Costs” has the meaning set forth in Section 6.11.

 

1.38.
“Intensity” has the meaning set forth in the preamble.

 

1.39.
“Intensity Background Patents” has the meaning set forth in Section 10.4.1.

 

1.40.
“Intensity Class Compound” means [***].

 

    3

     

    

 

1.41.
“Intensity Clinical Trial” means the Phase 1/2 clinical trial referred to as protocol IT-01 to evaluate the
Intensity Compound as a monotherapy, in combination with the MSD Compound, and, if applicable, in combination with one or more Third Party
Compounds; in each case, in adult patients with advanced refractory cancers.

 

1.42.
“Intensity Compound” means INT230-6, a combination of low dose cisplatin, vinblastine and a cell penetration
excipient, combined in a fixed ratio[***].

 

1.43.
“Intensity Inventions” has the meaning set forth in Section 10.2.

 

1.44.
“Inventions” means all inventions and discoveries, whether or not patentable, that are made, conceived, or first
actually reduced to practice by or on behalf of a Party, or by or on behalf of the Parties together[***].

 

1.45.
“Joint Development Committee” or “JDC” has the meaning set forth in Section 3.10.1.

 

1.46.
“Joint Patent Application” has the meaning set forth in Section 10.1.1(c).

 

1.47.
“Joint Patent” means a Patent that issues from a Joint Patent Application.

 

1.48.
“Jointly Owned Invention” has the meaning set forth in Section 10.1.1(a).

 

1.49.
“Know-How” means any proprietary invention, innovation, improvement, development, discovery, computer program,
device, trade secret, method, know-how, process, technique or the like, including manufacturing, use, process, structural, operational
and other data and information; in each case, (i) whether or not written or otherwise fixed in any form or medium, regardless of
the media on which contained and whether or not patentable or copyrightable and (ii) that is not generally known or otherwise in
the public domain.

 

1.50.
“Liability” has the meaning set forth in Section 14.2.1.

 

1.51.
“Manufacture,” “Manufactured,” or “Manufacturing” means all activities
related to the manufacture of a Compound, including planning, purchasing, manufacture, processing, compounding, storage, filling, packaging,
waste disposal, labeling, leafleting, testing, quality assurance, sample retention, stability testing, release, dispatch and supply, as
applicable.

 

1.52.
“Manufacturer’s Release” or “Release” has the meaning ascribed to such term in the
Clinical Quality Agreement.

 

1.53.
“Manufacturing Site” means the facilities where a Compound is Manufactured by or on behalf of a Party, as such
Manufacturing Site may change from time to time in accordance with Section 8.7.

 

1.54.
“Monotherapy Arm(s)” means only that arm or those arms of the Intensity Clinical Trial in which the Intensity
Compound is dosed alone.

 

1.55.
“MSD” has the meaning set forth in the preamble.

 

1.56.
“MSD Background Patents” has the meaning set forth in Section 10.4.2.

 

1.57.
“MSD Compound” means pembrolizumab, a humanized anti-human PD-1 monoclonal antibody[***].

 

1.58.
“MSD Inventions” has the meaning set forth in Section 10.3.

 

    4

     

    

 

1.59.
“NDA” means a New Drug Application, Biologics License Application, Marketing Authorization Application, filing
pursuant to Section 510(k) of the United States Federal Food, Drug and Cosmetic Act, or similar application or submission for a marketing
authorization of a product filed with a Regulatory Authority to obtain marketing approval for a biological, pharmaceutical or diagnostic
product in that country or in that group of countries.

 

1.60.
“Non-Conformance” means, with respect to a given unit of Compound, (a) an event that deviates from an approved
cGMP requirement with respect to the applicable Compound, such as a procedure, Specification, or operating parameter, or that requires
an investigation to assess impact to the quality of the applicable Compound or (b) that such Compound failed to meet the applicable representations
and warranties set forth in Section 2.3. Classification of the Non-Conformance is detailed in the Clinical Quality Agreement.

 

1.61.
“Non-Filing Party” has the meaning set forth in Section 10.1.1(c).

 

1.62.
“Option Period” has the meaning set forth in Section 3.14.1.

 

1.63.
“Other Combination Arm(s)” means any arm(s) of the Intensity Clinical Trial in which the Intensity Compound
is dosed in combination with a Third Party Compound (an “Other Combination”).

 

1.64.
“Other Party” has the meaning set forth in Section 14.2.3.

 

1.65.
“Opting-out Party” has the meaning set forth in Section 10.1.1(c).

 

1.66.
“Party” has the meaning set forth in the preamble.

 

1.67.
“Patent” means a patent [***]that issues from a given Patent Application.

 

1.68.
“Patent Application” means a patent application in respect of a given invention.

 

1.69.
“PD-1 Antagonist” means any [***].

 

1.70.
“Person” means any individual, sole proprietorship, partnership, corporation, business trust, joint stock company,
trust, unincorporated organization, association, limited liability company, institution, public benefit corporation, joint venture, entity
or governmental entity.

 

1.71.
“Pharmacovigilance Agreement” has the meaning set forth in Section 5.1.

 

1.72.
“Project Manager” has the meaning set forth in Section 3.10.1.

 

1.73.
“Protocol” means the written documentation that describes the Intensity Clinical Trial, as amended to include
the Study, and sets forth specific activities to be performed as part of the conduct of the Intensity Clinical Trial.

 

1.74.
“Receiving Party” has the meaning set forth in the definition of Confidential Information.

 

1.75.
“Regulatory Approvals” means, with respect to a Compound, any and all permissions (other than the Manufacturing
approvals) required to be obtained from Regulatory Authorities and any other competent authority for the development, registration, importation
and distribution of such Compound in the United States, Europe or other applicable jurisdictions for use in the Study.

 

1.76.
“Regulatory Authorities” has the meaning set forth in the definition of Applicable Law.

 

    5

     

    

 

1.77.
“Regulatory Documentation” means, with respect to the Compounds, all submissions to Regulatory Authorities in
connection with the development of such Compounds, including all INDs and amendments thereto, NDAs and amendments thereto, drug master
files, correspondence with regulatory agencies, periodic safety update reports, adverse event files, complaint files, inspection reports
and manufacturing records, in each case together with all supporting documents (including documents that include Clinical Data).

 

1.78.
“Related Agreements” means the Data Protection Agreement, the Pharmacovigilance Agreement and the Clinical Quality
Agreement.

 

1.79.
“Right of Reference” means the “right of reference” defined in 21 CFR 314.3(b), including with regard
to a Party, allowing the applicable Regulatory Authority in a country to have access to relevant information (by cross-reference, incorporation
by reference or otherwise) contained in Regulatory Documentation (and any data contained therein) filed with such Regulatory Authority
with respect to a Party’s Compound, only to the extent necessary for the conduct of the Study in such country or as otherwise expressly
permitted or required under this Agreement to enable a Party to exercise its rights or perform its obligations hereunder.

 

1.80.
“SAEs” has the meaning set forth in Section 5.2.

 

1.81.
“Samples” means biological specimens collected from subjects participating in the Study, including urine, blood
and tissue samples.

 

1.82.
“Sample Testing” means the analyses to be performed by each Party using the applicable Samples, as described
in the Sample Testing Schedule.

 

1.83.
“Sample Testing Results” means those data and results arising from the Sample Testing performed by a Party.

 

1.84.
“Sample Testing Schedule” means the schedule attached hereto as Schedule II.

 

1.85.
“Specifications” means, with respect to a given Compound, the set of requirements for such Compound as set forth
in the Clinical Quality Agreement.

 

1.86.
“Study” means the arm of the Intensity Clinical Trial described in the Protocol to evaluate the safety, pharmacokinetics,
pharmacodynamics, and preliminary efficacy of the Combination in patients in the Indications.

 

1.87.
“Study Completion” means the date of the last visit for the last patient enrolled in the Study, excluding any
survival follow-up.

 

1.88.
“Subcontractors” has the meaning set forth in Section 2.4.

 

1.89.
“Subsequent Study” has the meaning set forth in Section 3.14.1.

 

1.90.
“Subsequent Study Agreement” has the meaning set forth in Section 3.14.1.

 

1.91.
“Term” has the meaning set forth in Section 6.1.

 

1.92.
“Third Party” means any Person or entity other than Intensity, MSD or their respective Affiliates.

 

1.93.
“Third Party Compound” means a compound of a Third Party that is not a PD-1 Antagonist.

 

1.94.
“Third Party Infringement” has the meaning set forth in Section 10.1.2(a).

 

1.95.
“Toxicity & Safety Data” means all clinical adverse event information and/or patient-related safety data
included in the Clinical Data, as more fully described in the Pharmacovigilance Agreement.

 

1.96.
“Transparency Report” has the meaning set forth in Section 4.3.3.

 

1.97.
“VAT” has the meaning set forth in Section 8.16.1.

 

    6

     

    

 

1.98.
“Violation” means that a Party or any of its officers or directors or any other personnel (or other permitted
agents of a Party performing activities hereunder) has been: (a) convicted of any of the felonies identified among the exclusion authorities
listed on the U.S. Department of Health and Human Services, Office of Inspector General (OIG) website, including 42 U.S.C. 1320a-7(a)
(http://oig.hhs.gov/exclusions/authorities.asp); (b) identified in the OIG List of Excluded Individuals/Entities (LEIE) database (http://exclusions.oig.hhs.gov/)
or listed as having an active exclusion in the System for Award Management (http://www.sam.gov); or (c) listed by any US Federal agency
as being suspended, proposed for debarment, debarred, excluded or otherwise ineligible to participate in Federal procurement or non-procurement
programs, including under 21 U.S.C. 335a (http://www.fda.gov/ora/compliance_ref/debar/) ((a), (b) and (c) collectively the “Exclusions
Lists”).

 

2.
Scope of the Agreement.

 

2.1.
Generally. Each Party shall: (a) contribute to the
Study such resources as are necessary to fulfill its obligations set forth in this Agreement; and (b) act in good faith in performing
its obligations under this Agreement and each Related Agreement to which it is a Party.

 

2.2.
Manufacturing Delay. Each Party shall notify the
other Party as promptly as possible in the event of any Manufacturing delay that is likely to adversely affect supply of its Compound
as contemplated by this Agreement.

 

2.3.
Compound Commitments.

 

2.3.1.
Intensity agrees to Manufacture and supply the Intensity Compound for purposes of the Study in accordance with Article 8,
and Intensity hereby represents and warrants to MSD that, at the time of Delivery of the Intensity Compound, such Intensity Compound shall
have been Manufactured and supplied in compliance with: (a) the Specifications for the Intensity Compound; (b) the Clinical Quality Agreement;
and (c) all Applicable Law, including cGMP and health, safety and environmental protections.

 

2.3.2.
MSD agrees to Manufacture and supply the MSD Compound for purposes of the Study in accordance with Article 8, and MSD hereby
represents and warrants to Intensity that, at the time of Delivery of the MSD Compound, such MSD Compound shall have been Manufactured
and supplied in compliance with: (a) the Specifications for the MSD Compound; (b) the Clinical Quality Agreement; and (c) all Applicable
Law, including cGMP and health, safety and environmental protections.

 

2.3.3.
Without limiting the foregoing, each Party is responsible for obtaining all regulatory approvals (including facility licenses)
that are required to Manufacture its Compound in accordance with Applicable Law (provided that, for clarity, Intensity shall be
responsible for obtaining Regulatory Approvals for the Study as set forth in Section 3.4).

 

2.4.
Delegation of Obligations. Each Party shall have
the right to delegate any portion of its obligations hereunder as follows: (a) to such Party’s Affiliates; (b) to Third Parties
that are set forth on Schedule 2.4 or are set forth in the Protocol as performing Study activities or as conducting Sample Testing
for such Party; (c) to the extent related to the Manufacture of such Party’s Compound; and (d) upon the other Party’s prior
written consent. Any and all Third Parties to whom a Party delegates any of its obligations hereunder are referred to as “Subcontractors”.
Notwithstanding any delegation of its obligations hereunder, each Party shall remain solely and fully liable for the performance of its
Affiliates and Subcontractors to which such Party delegates the performance of its obligations under this Agreement. Each Party shall
ensure that each of its Affiliates and Subcontractors performs such Party’s obligations pursuant to the terms of this Agreement,
including the Appendices and Schedules attached hereto. Each Party shall use reasonable efforts to obtain and maintain copies of documents
relating to the obligations performed by such Affiliates and Subcontractors that are required to be provided to the other Party under
this Agreement.

 

2.5.
Compounds. This Agreement does not create any obligation
on the part of MSD to provide the MSD Compound for any activities other than the Study, nor does it create any obligation on the part
of Intensity to provide the Intensity Compound for any activities other than the Study.

 

    7

     

    

 

3.
Conduct of the Study.

 

3.1.
Sponsor. Intensity shall act as the sponsor of the
Intensity Clinical Trial under its existing IND for the Intensity Compound with a Right of Reference to the IND of the MSD Compound for
the Study, as necessary, as further described in Section 3.4; provided, however, that in no event shall Intensity
file an additional IND for the Study unless required by Regulatory Authorities to do so. If a Regulatory Authority requests an additional
IND for the Study the Parties shall meet and mutually agree on an approach to address such requirement.

 

3.2.
Performance. Intensity shall ensure that the Study
is performed in accordance with this Agreement, the Protocol and all Applicable Law, including GCP.

 

3.3.
Debarred Personnel; Exclusions Lists. Notwithstanding
anything to the contrary contained herein, neither Party shall employ or subcontract with any Person that is excluded, debarred, suspended,
proposed for suspension or debarment, in Violation or otherwise ineligible for government programs for the performance of the Study or
any other activities under this Agreement or the Related Agreements. Each Party hereby certifies that it has not employed or otherwise
used in any capacity and will not employ or otherwise use in any capacity, the services of any Person suspended, proposed for debarment,
or debarred under United States law, including 21 USC 335a, or any foreign equivalent thereof, in performing any portion of the Study
or other activities under this Agreement or the Related Agreements and that each Party has, as of the Effective Date, screened itself,
and its officers and directors, against the Exclusions Lists and that it has informed the other Party whether it or any of its officers
or directors has been in Violation. Each Party shall notify the other Party in writing immediately if any such suspension, proposed debarment,
debarment or Violation occurs or comes to its attention, and shall, with respect to any Person so suspended, proposed for debarment, debarred
or in Violation, promptly remove such Person from performing in any capacity related to the Study or otherwise related to activities under
this Agreement or the Related Agreements.

 

3.4.
Regulatory Matters. Intensity shall: (a) obtain,
prior to initiating the Study, all Regulatory Approvals from all Regulatory Authorities, ethics committees and/or institutional review
boards with jurisdiction over the Study; and (b) follow all directions from any such Regulatory Authorities, ethics committees and/or
institutional review boards . MSD [***]with a Regulatory Authority regarding matters related to the Study and the MSD Compound and [***].
If a Right of Reference from a Party is necessary, such Party shall provide to the other Party a cross-reference letter or similar communication
to the applicable Regulatory Authority if needed to effectuate the Right of Reference. [***]. MSD shall authorize FDA and other applicable
Regulatory Authorities to cross-reference the appropriate MSD Compound INDs and CTAs to provide data access to Intensity sufficient to
support conduct of the Study. If MSD’s CTA is not available in a given country, [***].

 

3.5.
Documentation. Intensity shall maintain reports and
all related documentation in good scientific manner and in compliance with Applicable Law. Intensity shall provide to MSD all Study information
and documentation reasonably requested by MSD to enable MSD to (a) comply with any of its legal, regulatory and/or contractual obligations,
or any request by any Regulatory Authority, related to the MSD Compound and (b) determine whether the Study has been performed in accordance
with this Agreement.

 

3.6.
Copies. Intensity shall provide to MSD copies of
all Clinical Data, in electronic form or other mutually agreeable alternate form and on the timelines specified in the Data Sharing Schedule
(if applicable) or upon mutually agreeable timelines; provided, however, that a complete copy of the Clinical Data shall
be provided to MSD no later than [***] following Study Completion. Intensity shall ensure that (a) all patient authorizations and consents
required under Data Protection Law in connection with the Intensity Clinical Trial permit such sharing of Clinical Data with MSD and (b)
it complies with Applicable Law in transferring personal data in connection with sharing the Clinical Data. Prior to the initiation of
clinical activities under the Study, and in any event within [***] after the Effective Date, Intensity and MSD shall enter into a Data
Protection Agreement that ensures certain protections are in place for the processing personal data in the performance of the Study and
sets forth Intensity’s responsibility for certain obligations, including, without limitation, addressing the rights of data subjects,
ensuring a legal basis for processing personal data, conducting appropriate data protection impact assessments and prior consultations
with relevant supervisory authorities, complying with all personal data breach notification obligations, and certain other compliance
obligations under Data Protection Law (the “Data Protection Agreement”). In the event of any inconsistencies between
the terms of this Agreement and the Data Protection Agreement, the terms of the Data Protection Agreement will control.

 

    8

     

    

 

3.7.
Sample Testing.

 

3.7.1.
Intensity shall provide Samples to MSD as specified in the Protocol or the Sample Testing Schedule, or as agreed to by the Joint
Development Committee. Each Party shall (a) use the Samples only for the Sample Testing and (b) conduct the Sample Testing solely in accordance
with the Sample Testing Schedule and the Protocol.

 

3.7.2.
[***]

 

3.7.3.
[***].

 

3.7.4.
Except to the extent otherwise agreed in a writing signed by authorized representatives of each Party, each Party may use and disclose
the Sample Testing Results owned by the other Party and shared by such other Party in accordance with the Sample Testing Schedule solely
for the purposes of [***].

 

3.8.
Ownership and Use of Clinical Data.

 

3.8.1.
 [***]. Intensity shall maintain the Clinical Data in its internal database; provided, however, that at all times
during the Term, Intensity shall grant MSD access to all Clinical Data. [***].

 

3.8.2.
Notwithstanding Section 3.8.1, before publication of the Clinical Data in accordance with Article 12, neither Party
may disclose the Clinical Data publicly or to a Third Party without the consent of the other Party and each Party’s use of such
unpublished Clinical Data is restricted to: [***]; provided, however, that the foregoing shall not limit or restrict either
Party’s ability to [***].

 

3.9.
Regulatory Submission.
It is understood and acknowledged by the Parties that positive Clinical Data could be used to obtain label changes for the Compounds,
and each Party may propose a Subsequent Study in accordance with Section 3.14. 

 

3.10.
Joint Development Committee; Alliance Managers.

 

3.10.1. The Parties shall form
a joint development committee (the “Joint Development Committee” or “JDC”) made up of an equal
number of representatives of MSD and Intensity, which shall have responsibility for coordinating all regulatory and other activities
under, and pursuant to, this Agreement. The JDC will review and finalize the Protocol (excluding any portion thereof regarding an Other
Combination Arm) in accordance with Section 4.1. Each Party shall designate a project manager (the “Project Manager”)
who shall be responsible for implementing and coordinating activities and facilitating the exchange of information between the Parties
with respect to the Study and shall be a member of the JDC. Other JDC members will be agreed by both Parties.

 

3.10.2. The JDC shall meet
as soon as practicable after the Effective Date and then no less than [***], and more often as reasonably considered necessary at the
request of either Party, to provide an update on the progress of the Study. The JDC may meet in person or by means of teleconference,
Internet conference, videoconference or other similar communications equipment. Prior to any such meeting, Intensity’s Project
Manager shall provide an update in writing to MSD’s Project Manager, which update shall contain information about the overall progress
of the Study, recruitment status, interim analysis (if results available), final analysis and other information relevant to the conduct
of the Study.

 

3.10.3.
In addition to a Project Manager, each Party shall designate an alliance manager (the “Alliance Manager”), who
shall endeavor to ensure clear and responsive communication between the Parties and the effective exchange of information and shall serve
as the primary point of contact for any issues arising under this Agreement. The Alliance Managers shall have the right to attend all
JDC meetings and may bring to the attention of the JDC any matters or issues either of them reasonably believes should be discussed and
shall have such other responsibilities as the Parties may mutually agree in writing. In the event that an issue arises and the Alliance
Managers cannot or do not, after good faith efforts, reach agreement on such issue, or if there is a decision to be made by the JDC on
which the members of the JDC cannot unanimously agree, the issue shall be elevated to the [***] for MSD and the Chief Executive Officer
for Intensity. In the event such escalation does not result in resolution or consensus[***].

 

    9

     

    

 

3.11.
Certain Memoranda and Reports. Without limiting any
other provision of this Agreement requiring Intensity to provide to MSD documentation related to the Study, Intensity shall provide to
MSD drafts and final versions of the top-line results memorandum and final study report for the Study as described below.

 

3.11.1.
Top-Line Results Memo. Promptly following Study Completion, Intensity shall provide to MSD an electronic draft of the top-line
results memorandum for the Study, and MSD shall have [***] after receipt of such draft to provide comments thereon. Intensity shall consider
in good faith any comments provided by MSD on such draft top-line results memorandum and shall not include any statements therein relating
to the MSD Compound that have not been approved by MSD. Intensity shall deliver to MSD a final version of the top-line results memorandum
promptly following finalization thereof.

 

3.11.2. Final Study Report.
Intensity shall provide MSD with an electronic draft of the final report promptly following Study Completion, and MSD shall have [***]
after receipt of such draft to provide comments thereon. Intensity shall consider in good faith any comments provided by MSD on the draft
final study report and shall not include any statements therein relating to the MSD Compound that have not been approved by MSD. Intensity
shall deliver to MSD a final version of the final report promptly following finalization thereof (the “Final Study Report”).

 

3.12.
Relationship. Except as expressly set forth in this
Agreement, nothing in this Agreement shall: (a) prohibit either Party from performing clinical studies other than the Study relating to
its own Compound, either individually or in combination with any other compound or product, in any therapeutic area; or (b) create an
exclusive relationship between the Parties with respect to any Compound. Each Party acknowledges and agrees that nothing in this Agreement
shall be construed as a representation or inference that the other Party will not develop for itself, or enter into business relationships
with other Third Parties regarding, any products, programs, studies (including combination studies), technologies or processes that are
similar to or that may compete with the Combination or any other product, program, technology or process, including [***]are not used
or disclosed in connection therewith in violation of this Agreement.

 

3.13.
Licensing. Nothing in this Agreement shall prohibit
or restrict a Party from licensing, assigning or otherwise transferring to an Affiliate or Third Party such Party’s Compound [***]owned
solely by such Party. A Party may license, assign or transfer to an Affiliate or Third Party such Party’s interest in the [***]owned
jointly by the Parties and/or [***] and in connection therewith share the [***] owned by the other Party, solely to the extent such licensee,
assignee or transferee agrees in writing to be bound by the terms of this Agreement with respect to such [***]. For purposes of clarity,
any assignment or transfer of this Agreement must comply with Article 18 of this Agreement.

 

3.14.
Subsequent Study.

 

3.14.1 During
the Term and for a period of * thereafter (the “Option Period”), either Party shall have the option to propose amending
this Agreement and the Related Agreements or negotiating a new agreements , as appropriate (such amendment or new agreement, a “Subsequent
Study Agreement”), for the purpose of conducting a registration study for the Combination in the same Indication(s) as the Study
(each a “Subsequent Study”) by sending a written proposal to the other Party during the Option Period. During the Option
Period, Intensity must offer MSD the option of participating in a Subsequent Study prior to entering into an agreement with a Third Party
to conduct a registration study of the Intensity Compound in concomitant and/or sequential administration with a PD-1 Antagonist in the
same Indication(s) as the Study. [***]

 

3.14.2 [***]

 

    10

     

    

 

4.
Protocol and Informed Consent; Certain Covenants.

 

4.1.
Protocol. The Protocol for the Intensity Clinical
Trial has been agreed to by the Parties as of the Effective Date and is attached hereto as Appendix A. Through the JDC, Intensity
shall (a) provide a draft of the statistical analysis plan and any subsequent proposed revisions of the Protocol or statistical analysis
plan to MSD for MSD’s review and comment (excluding any portions thereof specific to Other Combination Arms), (b) consider in good
faith any changes to the draft of the Protocol or statistical analysis plan requested by MSD and (c) incorporate any changes requested
by MSD with respect to MSD Compound. Intensity shall submit any revised Protocol and statistical analysis plan to the JDC. To the extent
the JDC cannot agree unanimously regarding the contents of the Protocol for final approval: (i) [***] shall have final decision-making
authority with respect to matters in the Protocol related to[***]; (ii) [***] shall have final decision-making authority with respect
to matters in the Protocol related to [***]; and (iii) all other matters in respect of the Protocol on which the JDC cannot agree shall
be resolved in accordance with Section 3.10.3. Once the final Protocol has been approved in accordance with this Section 4.1,
any changes to such approved final Protocol relating to the Study or [***] shall require MSD’s prior written consent, provided that
[***].

 

4.1.1.
Notwithstanding anything to the contrary contained herein, MSD, in its sole discretion, shall have the sole right to determine
the dose and dosing regimen for the MSD Compound and shall have the final decision on all matters relating to the MSD Compound (including
quantities of MSD Compound to be supplied pursuant to Article 8) and any information regarding the MSD Compound included in the
Protocol.

 

4.1.2.
Notwithstanding anything to the contrary contained herein, Intensity, in its sole discretion, shall have the sole right to determine
the dose and dosing regimen for the Intensity Compound and shall have the final decision on all matters relating to the Intensity Compound
(including quantities of Intensity Compound to be supplied pursuant to Article 8) and any information regarding the Intensity Compound
included in the Protocol.

 

4.2.
Informed Consent. Intensity shall prepare the patient
informed consent form for the Study (which shall include provisions regarding the use of Samples in Sample Testing) in consultation with
MSD (it being understood and agreed that the portion of the informed consent form relating to the Sample Testing of the MSD Compound shall
be provided to Intensity by MSD). Any proposed changes to such form that relate to the MSD Compound, including Sample Testing of the MSD
Compound, shall be subject to MSD’s prior written consent. Any such proposed changes will be sent in writing to MSD’s Project
Manager and MSD’s Alliance Manager. MSD will provide such consent, or a written explanation for why such consent is being withheld,
within [***] after MSD receives a copy of Intensity’s requested changes.

 

4.3.
Transparency Reporting.

 

4.3.1.
With respect to any annual reporting period in which Intensity is not an entity that is required to make a Transparency Report
under Applicable Law, Intensity will: (a) notify MSD, in writing, within [***] after the commencement of such reporting period that Intensity
is not so required; and (b) during such reporting period Intensity will track and provide to MSD data regarding “indirect”
payments or other transfers of value by Intensity to such health care professionals to the extent such payments or other transfers of
value were required, instructed, directed or otherwise caused by MSD pursuant to this Agreement in the format requested by MSD and provided
on a basis to be agreed upon by both Parties. Intensity represents and warrants that any data provided by Intensity to MSD pursuant to
Section 4.3.1(b) above will be complete and accurate to the best of Intensity’s knowledge.

 

4.3.2.
With respect to any annual reporting period in which Intensity is required to make a Transparency Report under Applicable Law,
Intensity will provide to MSD, in writing, Intensity’s point of contact for purposes of receiving information from MSD pursuant
to this Section 4.3, along with such contact’s full name, email address, and telephone number. Intensity may update such
contact from time to time by notifying MSD in writing pursuant to Article 22 (Notices). Where applicable, MSD will provide to such
Intensity contact all information regarding the value of the MSD Compound provided for use in the Study required for such reporting. In
the event that the value of the MSD Compound provided pursuant to this Section 4.3.2 changes, MSD shall notify Intensity of such
revised value and the effective date thereof.

 

4.3.3.
For purposes of this Section 4.3, “Transparency Report” means a transparency report in connection with
reporting payments and other transfers of value made to health care professionals, including, without limitation, investigators, steering
committee members, data monitoring committee members, and consultants in connection with the Intensity Clinical Trial in accordance with
reporting requirements under Applicable Law, including, without limitation, the Physician Payment Sunshine Act and state gift laws, and
the European Federation of Pharmaceutical Industries and Associations Disclosure Code, or a Party’s applicable policies.

 

    11

     

    

 

4.4.
Financial Disclosure. To the extent required by Applicable
Law, Intensity will be responsible for preparing and submitting the Financial Disclosure Module 1.3.4 components to the FDA for any Regulatory
Documentation in connection with the Intensity Clinical Trial. [***] 

 

5.  Adverse Event Reporting.

 

5.1.
Pharmacovigilance Agreement. Intensity will be solely
responsible for compliance with all Applicable Laws pertaining to safety reporting for the Intensity Clinical Trial and related activities.
The Parties (or their respective Affiliates) will execute a pharmacovigilance agreement (the “Pharmacovigilance Agreement”)
prior to the initiation of clinical activities under the Study, but in any event within [***] after the Effective Date, to ensure the
exchange of relevant safety data within appropriate timeframes and in an appropriate format to enable the Parties to fulfill local and
international regulatory reporting obligations and to facilitate appropriate safety reviews. In the event of any inconsistency between
the terms of this Agreement and the Pharmacovigilance Agreement, the terms of this Agreement shall prevail and govern, except to the extent
such conflicting terms relating directly to the pharmacovigilance responsibilities of the parties (including the exchange of safety data),
in which case the terms of the Pharmacovigilance Agreement shall prevail and govern. The Pharmacovigilance Agreement will include safety
data exchange procedures governing the coordination of collection, investigation, reporting, and exchange of information concerning any
adverse experiences, pregnancy reports, and any other safety information arising from or related to the use of the MSD Compound and Intensity
Compound in the Study, consistent with Applicable Law. Such guidelines and procedures shall be in accordance with, and enable the Parties
and their Affiliates to fulfill, local and international regulatory reporting obligations to Regulatory Authorities. For the avoidance
of doubt, the obligations to provide safety data under the Pharmacovigilance Agreement will be independent of any obligations to provide
safety data pursuant to any other provisions contained in this Agreement.

 

5.2.
Transmission of SAEs. Intensity will transmit to
MSD all serious adverse events (“SAEs”) as follows:

 

5.2.1.
For drug-related fatal and life-threatening SAEs, Intensity will send a processed case (on a CIOMS-1 form in English) within [***]
after receipt by Intensity of such SAEs.

 

5.2.2.
For all other SAEs, including non-drug-related fatal and life-threatening SAEs, Intensity will send a processed case (on a CIOMS-1
form in English) within [***] after receipt by Intensity of such SAEs.

 

5.3.
Provision of Clinical Safety Data. On an ongoing
basis, Intensity shall invite MSD to attend its safety review meetings and provide to MSD an updated copy of all Clinical Safety Data.
Following review of such Clinical Safety Data and discussion at the JDC, if MSD determines that the Intensity Clinical Trial or the Study
affects patient safety, MSD may decide to discontinue the Study by notifying Intensity in writing and may terminate this Agreement in
accordance with Section 6.4 of this Agreement. For the avoidance of doubt, the obligations to provide Clinical Safety Data under
this Section 5.3 will be independent of any obligations to provide safety data pursuant to any other provisions contained in this
Agreement.

 

6. 
Term and Termination.

 

6.1.
Term. The term of this Agreement shall commence on
the Effective Date and shall continue in full force and effect until delivery of the Final Study Report, unless terminated earlier by
either Party pursuant to this Article 6 (the “Term”).

 

6.2.
MSD Termination for Safety. In the event that MSD
in good faith believes that the MSD Compound is being used in the Study in an unsafe manner and notifies Intensity in writing of the grounds
for such belief, and Intensity fails to promptly incorporate changes into the Protocol requested by MSD to address such issue or to otherwise
address such issue reasonably and in good faith, MSD may terminate this Agreement and the supply of the MSD Compound immediately upon
written notice to Intensity.

 

6.3.
Termination for Material Breach. Either Party may
terminate this Agreement if the other Party commits a material breach of this Agreement, and such material breach continues for [***]
after receipt of written notice thereof from the non-breaching Party; provided that if such material breach cannot reasonably be
cured within [***], the breaching Party shall be given a reasonable period of time to cure such breach; provided further, that
if such material breach is incapable of cure, then the notifying Party may terminate this Agreement effective after the expiration of
such [***] period.

 

    12

     

    

 

6.4.
Termination for Patient Safety. If either Party determines
in good faith, [***], that the Study or the Intensity Clinical Trial may unreasonably affect patient safety, such Party shall promptly
notify the other Party of such determination. The Party receiving such notice may propose modifications to the Study or the Intensity
Clinical Trial to address the safety issue identified by the other Party and, if the notifying Party agrees, shall act to implement immediately
such modifications; provided, however, that if the notifying Party, in its sole discretion, believes that there is imminent
danger to patients, such Party need not wait for the other Party to propose modifications and may instead terminate this Agreement immediately
upon written notice to such other Party. Furthermore, if the notifying Party, in its sole discretion, believes that any modifications
proposed by the other Party will not resolve the patient safety issue, such Party may terminate this Agreement effective upon written
notice to such other Party.

 

6.5.
Termination for Regulatory Action; Other Reasons.
Either Party may terminate this Agreement immediately upon written notice to the other Party in the event that any Regulatory Authority
takes any action, or raises any objection, that prevents the terminating Party from supplying its Compound for purposes of the Study.
Additionally, either Party shall have the right to terminate this Agreement immediately upon written notice to the other Party in the
event that it determines in its sole discretion to withdraw any applicable Regulatory Approval for its Compound or to discontinue development
of its Compound, for medical, scientific or legal reasons.

 

6.6.
Termination related to Anti-Corruption Obligations.
Either Party shall have the right to terminate this Agreement immediately upon written notice to the other Party, if such other Party
fails to perform any of its obligations under Section 13.4 or breaches any representation or warranty contained in Section 13.4.
Except as set forth in [***], the non-terminating Party shall have no claim against the terminating Party for compensation for any loss
of whatever nature by virtue of the termination of this Agreement in accordance with this Section 6.6.

 

6.7.
Return of MSD Compound. In the event that this Agreement is terminated, or in the event Intensity remains
in possession (including through any Affiliate or Subcontractor) of MSD Compound at the time this Agreement expires, Intensity shall,
at MSD’s sole discretion, promptly either return or destroy all unused MSD Compound pursuant to MSD’s instructions. If MSD
requests that Intensity destroy the unused MSD Compound, Intensity shall provide written certification of such destruction.

 

6.8.
Survival. The provisions of Sections 3.4 through
3.9 (inclusive), 3.14, 6.7 through 6.11 (inclusive), 8.5.2, 8.11, 8.14 through 8.16
(inclusive), 12.2, 13.4.6, 14.2, and 14.3, and Articles 1, 5, 9 through 12 (inclusive),
17, and 20 through 25 (inclusive) shall survive the expiration or termination of this Agreement. *

 

6.9.
No Prejudice. Termination of this Agreement shall
be without prejudice to any claim or right of action of either Party against the other Party for any prior breach of this Agreement.

 

6.10.
Confidential Information. Upon termination of this
Agreement, each Party and its Affiliates shall promptly return to the Disclosing Party or destroy any Confidential Information of the
Disclosing Party (other than Clinical Data, Sample Testing Results and Inventions) furnished to the Receiving Party by the Disclosing
Party; provided, however that the Receiving Party may retain one copy of such Confidential Information in its confidential
files, solely for purposes of exercising the Receiving Party’s rights hereunder, satisfying its obligations hereunder or complying
with any legal proceeding or requirement with respect thereto, and provided further that the Receiving Party shall not be required
to erase electronic files created in the ordinary course of business during automatic system back-up procedures pursuant to its electronic
record retention and destruction practices that apply to its own general electronic files and information so long as such electronic files
are (a) maintained only on centralized storage servers (and not on personal computers or devices), (b) not accessible by any of its personnel
(other than its information technology specialists), and (c) are not otherwise accessed subsequently except with the written consent of
the Disclosing Party or as required by law or legal process. Such retained copies of Confidential Information shall remain subject to
the confidentiality and non-use obligations herein.

 

    13

     

    

 

6.11.
Manufacturing Costs. In the event of termination
by MSD pursuant to Section 6.2, 6.3 or 6.6 above, MSD shall be entitled to [***].

 

7.  Costs
of Study.

 

The Parties agree that: [***]in
connection with the Study or the Intensity Clinical Trial.

 

8.  Supply
and Use of the Compounds.

 

8.1.
Supply of the Compounds. Subject to the terms and
conditions of this Agreement, each of Intensity and MSD will use commercially reasonable efforts to supply, or cause to be supplied, the
quantities of its respective Compound as are set forth in Appendix B, on the timelines set forth in Appendix B, in each
case for use in the Study. If the Protocol is changed in accordance with Article 4 in such a manner that may affect the quantities
of Compound to be provided or the timing for providing such quantities, the Parties shall amend Appendix B to reflect any changes
required to be consistent with the Protocol. Each Party shall also provide to the other Party a contact person for the supply of its Compound
under this Agreement. Notwithstanding the foregoing, or anything to the contrary herein, in the event that a Party is: (a) not supplying
its Compound in accordance with the terms of this Agreement, then the other Party shall have no obligation to supply its Compound; or
(b) allocating under Section 8.9, then the other Party may allocate proportionally.

 

8.2.
Clinical Quality Agreement. Within [***] after the
Effective Date, but in any event before any supply of MSD Compound hereunder, the Parties (or their respective Affiliates) shall enter
into a quality agreement that shall address and govern issues related to the quality of clinical drug supply to be supplied by the Parties
for use in the Study (the “Clinical Quality Agreement”). In the event of any inconsistency between the terms of this
Agreement and the Clinical Quality Agreement, the terms of this Agreement shall control. The Clinical Quality Agreement shall, among other
things: (a) detail classification of any Compound found to have a Non-Conformance; (b) include criteria for Manufacturer’s Release
and related certificates and documentation; (c) include criteria and timeframes for acceptance of MSD Compound; (d) include procedures
for the resolution of disputes regarding any Compounds found to have a Non-Conformance; and (e) include provisions governing the recall
of Compounds.

 

8.3.
Minimum Shelf Life Requirements. Each Party shall
use commercially reasonable efforts to supply its Compound hereunder with an adequate remaining shelf life at the time of Delivery to
meet the Study requirements.

 

8.4.
Provision of Compounds.

 

8.4.1.
MSD will deliver the MSD Compound [***] to Intensity’s, or its designee’s, location as specified by Intensity (“Delivery”
with respect to such MSD Compound). Title and risk of loss for the MSD Compound shall transfer from [***]. All costs associated with the
subsequent transportation, warehousing and distribution of MSD Compound shall be borne by Intensity. Intensity will, or will cause its
designee to: (a) take delivery of the MSD Compound supplied hereunder; (b) perform the acceptance (including testing) procedures allocated
to it under the Clinical Quality Agreement; (c) subsequently label and pack the MSD Compound (in accordance with Section 8.5);
and promptly ship the MSD Compound to the Study sites for use in the Study, in compliance with cGMP, GCP and other Applicable Law and
the Clinical Quality Agreement; and (d) provide, from time to time at the reasonable request of MSD, the following information: any applicable
chain of custody forms, in-transport temperature recorder(s), records and receipt verification documentation, such other transport or
storage documentation as may be reasonably requested by MSD, and usage and inventory reconciliation documentation related to the MSD Compound.

 

8.4.2.
Intensity is solely responsible, at its own cost, for supplying (including all Manufacturing, acceptance and release testing) the
Intensity Compound for the Intensity Clinical Trial, and the subsequent handling, storage, transportation, warehousing and distribution
of the Intensity Compound supplied hereunder. Intensity shall ensure that all such activities are conducted in compliance with cGMP, GCP
and other Applicable Law and the Clinical Quality Agreement. For purposes of this Agreement, the “Delivery” of a given
quantity of the Intensity Compound shall be deemed to occur when such quantity is packaged for shipment to a Study site.

 

8.5.
Labeling and Packaging; Use, Handling and Storage.

 

8.5.1.
The Parties’ obligations with respect to the labeling and packaging of the Compounds are as set forth in the Clinical Quality
Agreement. Notwithstanding the foregoing or anything to the contrary contained herein, MSD shall provide the MSD Compound to Intensity
in the form of unlabeled vials, and Intensity shall be responsible for labeling, packaging and leafleting such MSD Compound in accordance
with the terms and conditions of the Clinical Quality Agreement and otherwise in accordance with all Applicable Law, including cGMP, GCP,
and health, safety and environmental protections.

 

    14

     

    

 

8.5.2.
Intensity shall: (a) use the MSD Compound supplied by MSD hereunder solely for purposes of performing the Study; (b) not use such
MSD Compound in any manner that is inconsistent with this Agreement or for any commercial purpose; and (c) label, use, store, transport,
handle and dispose of such MSD Compound in compliance with Applicable Law and the Clinical Quality Agreement, as well as all instructions
of MSD. Intensity shall not reverse engineer, reverse compile, disassemble or otherwise attempt to derive the composition or underlying
information, structure or ideas of the MSD Compound supplied by MSD hereunder, and in particular shall not analyze such MSD Compound by
physical, chemical or biochemical means except as necessary to perform its obligations under the Clinical Quality Agreement.

 

8.6.
Product Specifications. A certificate of analysis
shall accompany each shipment of the MSD Compound to Intensity. Upon request, Intensity shall provide MSD with a certificate of analysis
covering each shipment of Intensity Compound used in the Study.

 

8.7.
Changes to Manufacturing. Each Party may make changes
from time to time to its Compound or the Manufacturing Site, provided that such changes shall be in accordance with the Clinical
Quality Agreement.

 

8.8.
Product Testing; Noncompliance.

 

8.8.1.
After Manufacturer’s Release. After Manufacturer’s
Release of the MSD Compound and concurrently with Delivery of the MSD Compound to Intensity, MSD shall provide Intensity with such certificates
and documentation as are described in the Clinical Quality Agreement (“Disposition Package”). Intensity shall, within
the time defined in the Clinical Quality Agreement, perform, with respect to the MSD Compound, the acceptance (including testing) procedures
allocated to it under the Clinical Quality Agreement. Intensity shall be solely responsible for taking all steps necessary to determine
that MSD Compound or Intensity Compound, as applicable, is suitable for release before making such MSD Compound or Intensity Compound,
as applicable, available for human use, and MSD shall provide cooperation or assistance as reasonably requested by Intensity in connection
with such determination with respect to the MSD Compound. Intensity shall be responsible for storage and maintenance of the MSD Compound
until it is tested and/or released, which storage and maintenance shall be in compliance with (a) the Specifications for the MSD Compound,
the Clinical Quality Agreement and Applicable Law and (b) any specific storage and maintenance requirements as may be provided by MSD
from time to time. Intensity shall be responsible for any failure of the MSD Compound to meet the Specifications to the extent caused
by shipping, storage or handling conditions after Delivery to Intensity hereunder.

 

8.8.2.
Non-Conformance.

 

(a)  
In the event that either Party becomes aware that any Compound may have a Non-Conformance, despite testing and quality assurance
activities (including any activities conducted by the Parties under Section 8.8.1), such Party shall immediately notify the other
Party in accordance with the procedures of the Clinical Quality Agreement. The Parties shall investigate any Non-Conformance in accordance
with Section 8.9 (Investigations) and any discrepancy between them shall be resolved in accordance with Section 8.8.3.

 

(b)
In the event that any proposed or actual shipment of the MSD Compound (or portion thereof) shall be agreed to have a Non-Conformance
at the time of Delivery to Intensity, then unless otherwise agreed to by the Parties, MSD shall replace such MSD Compound as is found
to have a Non-Conformance (with respect to MSD Compound that has not yet been administered in the course of performing the Study). Unless
otherwise agreed to by the Parties in writing, [***] with respect to any MSD Compound that is found to have a Non-Conformance at the time
of Delivery shall be [***] provided that, for clarity, [***] In the event MSD Compound is lost or damaged by Intensity after Delivery,
MSD shall [***] provided that [***] and provided further [***].

 

(c)  
Intensity shall be responsible for, and MSD shall have no obligation or liability with respect to, any Intensity Compound supplied
hereunder that is found to have a Non-Conformance. Intensity shall replace any Intensity Compound as is found to have a Non-Conformance
(with respect to Intensity Compound that has not yet been administered in the course of performing the Study). Unless otherwise agreed
to by the Parties in writing, [***]with respect to any Intensity Compound that is found to have a Non-Conformance at the time of Delivery
shall be[***]; provided that, for clarity[***] .

 

8.8.3.
Resolution of Discrepancies. Disagreements regarding any
determination of Non-Conformance by Intensity shall be resolved in accordance with the provisions of the Clinical Quality Agreement.

 

    15

     

    

 

8.9.
Investigations. The process for investigations of
any Non-Conformance shall be handled in accordance with the Clinical Quality Agreement.

 

8.10.
Shortage; Allocation. In the event that a Party’s
Compound is in short supply such that a Party reasonably believes in good faith that it will not be able to fulfill its supply obligations
hereunder with respect to its Compound, such Party will provide prompt written notice to the other Party thereof (including the shipments
of Compound hereunder expected to be impacted and the quantity of its Compound that such Party reasonably determines it will be able to
supply) and the Parties will promptly discuss such situation (including how the quantity of Compound that such Party is able to supply
hereunder will be allocated within the Study). In such event, the Party experiencing such shortage shall (i) use its commercially reasonable
efforts to remedy the situation giving rise to such shortage and to take action to minimize the impact of the shortage on the Study, and
(ii) [***].

 

8.11.
Records; Audit Rights. Intensity shall keep complete
and accurate records pertaining to its use and disposition of MSD Compound (including its storage, shipping (cold chain) and chain of
custody activities) and, upon request of MSD, shall make such records open to review by MSD for the purpose of conducting investigations
for the determination of MSD Compound safety and/or efficacy and Intensity’s compliance with this Agreement with respect to the
MSD Compound.

 

8.12.
Quality. Quality matters related to the Manufacture
of the Compounds shall be governed by the terms of the Clinical Quality Agreement in addition to the relevant quality provisions of this
Agreement.

 

8.13.
Quality Control. Each Party shall implement and perform
operating procedures and controls for sampling, stability and other testing of its Compound, and for validation, documentation and release
of its Compound and such other quality assurance and quality control procedures as are required by the Specifications, cGMPs and the Clinical
Quality Agreement.

 

8.14.
Audits and Inspections. The Parties’ audit
and inspection rights related to this Agreement shall be governed by the terms of the Clinical Quality Agreement.

 

8.15.
Recalls. Recalls of the Compounds shall be governed
by the terms of the Clinical Quality Agreement.

 

8.16.
VAT.

 

8.16.1. 
It is understood and agreed between the Parties that any payments made and any other consideration given under this Agreement are
each exclusive of any value added or similar tax (“VAT”), which shall be added thereon as applicable and at the relevant
rate.  Subject to Section 8.16.1, where VAT is properly charged by the supplying Party and added to a payment made or other
consideration provided (as applicable) under this Agreement, the Party making the payment or providing the other consideration (as applicable)
will pay the amount of VAT properly chargeable only on receipt of a valid tax invoice from the supplying Party issued in accordance with
the laws and regulations of the country in which the VAT is chargeable.  Each Party agrees that it shall provide to the other Party
any information and copies of any documents within its Control to the extent reasonably requested by the other Party for the purposes
of (i) determining the amount of VAT chargeable on any supply made under this Agreement, (ii) establishing the place of supply for VAT
purposes, or (iii) complying with its VAT reporting or accounting obligations.

 

8.16.2. 
Where one Party or its Affiliate (the “First Party”) is treated as making supply of goods or services
in a particular jurisdiction (for VAT purposes) for no consideration, and the other Party or its Affiliate (the “Second Party”)
is treated as receiving such supply in the same jurisdiction, thus resulting in an amount of VAT being properly chargeable on such supply,
the Second Party shall only be obliged to pay to the First Party the amount of VAT properly chargeable on such supply (and no other amount).
The Second Party shall pay such VAT to the First Party on receipt of a valid VAT invoice from the First Party (issued in accordance with
the laws and regulations of the jurisdiction in which the VAT is properly chargeable). Each Party agrees to (i) use its reasonable efforts
to determine and agree the value of the supply that has been made and, as a result, the corresponding amount of VAT that is properly chargeable
and (ii) provide to the other Party any information or copies of documents in its Control as are reasonably necessary to evidence that
such supply will take, or has taken, place in the same jurisdiction (for VAT purposes).

 

    16

     

    

 

9.
Confidentiality.

 

9.1.
Confidential Information. Subject to Section 13.4.8,
Intensity and MSD agree to hold in confidence any Confidential Information provided by or on behalf of the other Party, and neither Party
shall use Confidential Information of the other Party except to fulfill such Party’s obligations under this Agreement or exercising
its rights. Without limiting the foregoing, the Receiving Party may not, without the prior written permission of the Disclosing Party,
disclose any Confidential Information of the Disclosing Party to any Third Party except to the extent disclosure (i) is required by Applicable
Law; (ii) is pursuant to the terms of this Agreement; or (iii) is necessary for the conduct of the Study, and in each case ((i) through
(iii)) provided that the Receiving Party shall provide reasonable advance notice to the Disclosing Party before making such disclosure.
For the avoidance of doubt, Intensity may, without MSD’s consent, disclose Confidential Information to clinical trial sites and
clinical trial investigators performing the Study, the data safety monitoring and advisory board relating to the Study, and Regulatory
Authorities working with Intensity on the Study, in each case to the extent necessary for the performance of the Study and provided
that such Persons (other than governmental entities) are bound by an obligation of confidentiality at least as stringent as the obligations
contained herein.

 

9.2.
Inventions. Notwithstanding the foregoing: (i) Inventions
that constitute Confidential Information and are jointly owned by the Parties, shall constitute the Confidential Information of both Parties
and each Party shall have the right to use and disclose such Confidential Information consistent with Articles 10, 11 and
12; and (ii) Inventions that constitute Confidential Information and are solely owned by one Party shall constitute the Confidential
Information of that Party and each Party shall have the right to use and disclose such Confidential Information consistent with Articles
10, 11 and 12.

 

9.3.
Personal Identifiable Data. All Confidential Information
containing personal identifiable data shall be handled in accordance with all data protection and privacy laws, rules and regulations
applicable to such data.

 

9.4.
Publicity/Use of Names. No disclosure of the existence,
or the terms, of this Agreement may be made by either Party, and no Party shall use the name, trademark, trade name or logo of the other
Party, its Affiliates or their respective employee(s) in any publicity, promotion, news release or disclosure relating to this Agreement
or its subject matter, without the prior express written permission of that other Party, except as may be required by Applicable Law.

 

10.
Intellectual Property.

 

10.1.
Joint Ownership, Prosecution and Enforcement.

 

10.1.1. Joint Ownership and
Prosecution.

 

(a)
All rights to all Inventions relating to, or covering, the Combination that are [***] or [***] (each a “Jointly Owned
Invention”) shall be owned jointly by Intensity and MSD. MSD hereby assigns to Intensity an undivided one-half interest in,
to and under the Jointly Owned Inventions that are invented or created solely by MSD or by Persons having an obligation to assign such
rights to MSD. Intensity hereby assigns to MSD an undivided one-half interest in, to and under any Jointly Owned Inventions that are invented
or created solely by Intensity or by Persons having an obligation to assign such rights to Intensity. For those countries where a specific
license is required for a joint owner of a Jointly Owned Invention to exploit such Jointly Owned Invention in such countries: (a) MSD
hereby grants to Intensity a perpetual, irrevocable, non-exclusive, worldwide, royalty-free, fully paid-up license, transferable and sublicensable,
under MSD’s right, title and interest in and to all Jointly Owned Inventions to exploit such Jointly Owned Inventions in accordance
with the terms of this Agreement, including Section 10.1.1(b); and (b) Intensity hereby grants to MSD a perpetual, irrevocable,
non-exclusive, worldwide, royalty-free, fully paid-up license, transferable and sublicensable, under Intensity’s right, title and
interest in and to all Jointly Owned Inventions to exploit such Jointly Owned Inventions in accordance with the terms of this Agreement,
including Section 10.1.1(b). For clarity, the terms of this Agreement do not provide Intensity or MSD with any rights, title
or interest or any license to the other Party’s intellectual property except as necessary to conduct the Study and as expressly
provided under this Agreement, including as set forth in Section 10.4.

 

    17

     

    

 

(b)
Each Party shall have the right to [***].

 

(c)
Promptly following the Effective Date, but in any event as soon as practicable after the discovery of a Jointly Owned Invention,
patent representatives of each of the Parties shall meet (in person or by telephone) to discuss the patenting strategy for any Jointly
Owned Inventions that may arise. In particular, the Parties shall discuss which Party will file a Patent Application in respect of any
Jointly Owned Invention (each, a “Joint Patent Application”) or whether the Parties wish to appoint counsel that is
mutually acceptable to the Parties to file any such Joint Patent Applications. Unless otherwise agreed in writing, the Parties shall appoint
mutually acceptable outside counsel to prosecute any Joint Patent Applications. In any event, the Parties shall consult and reasonably
cooperate with one another in the preparation, filing, prosecution (including prosecution strategy) and maintenance of each Joint Patent
Application [***]. In the event that one Party (the “Filing Party”) wishes to file a Joint Patent Application in respect
of a Jointly Owned Invention and the other Party (the “Non-Filing Party”) does not want to file such Joint Patent Application
or does not want to file in a particular country, the Non-Filing Party shall execute [***]an assignment of such Jointly Owned Invention
to the Filing Party (in such country or all countries, as applicable) and any additional documents as may be reasonably necessary to allow
the Filing Party to file and prosecute such Joint Patent Application. If a Party (the “Opting-out Party”) wishes to
discontinue the prosecution and maintenance [***]of a Joint Patent Application or Joint Patent (in one or more countries), the other Party,
at its sole option (the “Continuing Party”), may continue such prosecution and maintenance. In such event, the Opting-out
Party shall execute [***]an assignment of such Joint Patent Application or Joint Patent to the Continuing Party (in such country or all
countries, as applicable) and any additional documents as may be necessary to allow the Continuing Party to prosecute and maintain such
Joint Patent Application or Joint Patent. Any Jointly Owned Invention, Joint Patent Application or Joint Patent so assigned shall thereafter
be owned solely by the Continuing Party or Filing Party (as applicable), [***], and the Non-Filing Party or Opting-out Party (as applicable)
shall have no right to practice under such Joint Patent Application or Joint Patent in the applicable country or countries.

 

(d)
Except as expressly provided in Section 10.1.1(c) and in furtherance and not in limitation of Section 9.1, each Party
agrees to make no Patent Application based on the other Party’s Confidential Information, and to give no assistance to any Third
Party for such application, without the other Party’s prior written authorization.

 

10.1.2. Patent Enforcement

 

(a)
Each Party shall promptly notify the other in writing of any actual or threatened infringement or misappropriation by a Third Party
of any Joint Patent or Jointly Owned Invention of which such Party becomes aware (“Third Party Infringement”).

 

(b)
[***] shall have the first right to initiate legal action to enforce all Joint Patents and Jointly Owned Inventions against Third
Party Infringement, [***]or to defend any declaratory judgment action relating thereto, at its sole expense. In the event that [***] fails
to initiate or defend such action by the earlier of (i) [***] after first being notified or made aware of such Third Party Infringement
and (ii) [***]before the expiration for initiating or defending such action, [***] shall have the right to initiate or defend such action
at its sole expense.

 

(c)
[***] shall have the first right to initiate legal action to enforce all Joint Patents and Jointly Owned Inventions against Third
Party Infringement, [***]or to defend any declaratory judgment action relating thereto, at its sole expense. In the event that [***] fails
to initiate or defend such action by the earlier of (i) [***]after first being notified or made aware of such Third Party Infringement
and (ii) [***]before the expiration for initiating or defending such action, [***]shall have the right to do so at its sole expense.

 

(d)
The Parties shall cooperate in good faith to jointly control legal action to enforce all [***]against any Third Party Infringement
where such Third Party Infringement results from the [***]or to defend any declaratory judgment action relating thereto, and [***]. Notwithstanding
the foregoing, either Party shall have the right to opt-out of controlling such legal action by providing written notice to the other
Party by the earliest of (1) [***] after first being noticed of such Third Party Infringement, (2) [***] before the expiration date for
filing such action, (3) [***]before the expiration date for filing an answer to a complaint in a declaratory judgment action, and (4)
[***] after receipt of an application to the U.S. Food & Drug Administration under Section 351(k) of the U.S. Public Health Services
Act (42 U.S.C. 262(k)), or to a similar agency under any similar provisions in another country, seeking approval of a biosimilar or interchangeable
biological product of the MSD Compound, whichever comes first.

 

    18

     

    

 

(e)
If one Party brings any prosecution or enforcement action or proceeding against a Third Party with respect to [***], the second
Party agrees to be joined as a party plaintiff where necessary and to give the first Party reasonable assistance and authority to file
and prosecute the suit. The costs and expenses of the Party bringing suit under this Section 10.1.2 shall be borne by such Party,
and any damages or other monetary awards recovered shall be shared as follows: (a) [***]; and [***] (b) [***] and [***]. A settlement
or consent judgment or other voluntary final disposition of a suit under this Section 10.1.2 may not be entered into without the
consent of the Party not bringing the suit.

 

10.2.
Inventions Owned by Intensity. Notwithstanding anything
to the contrary contained in Section 10.1, the Parties agree that all rights to Inventions relating [***] are the exclusive property
of Intensity (“Intensity Inventions”). Intensity shall (a) be entitled to file and prosecute in its own name Patent
Applications in respect of Intensity Inventions and (b) own Patents that issue from any such Patent Applications in respect of Intensity
Inventions. For the avoidance of doubt, any Invention [***]is an Intensity Invention. MSD hereby assigns its right, title and interest
to any and all Intensity Inventions to Intensity.

 

10.3.
Inventions Owned by MSD. Notwithstanding anything
to the contrary contained in Section 10.1, the Parties agree that all rights to Inventions relating [***] are the exclusive property
of MSD (“MSD Inventions”). MSD shall (a) be entitled to file and prosecute in its own name Patent Applications in respect
of MSD Inventions and (b) own Patents that issue from any such Patent Applications in respect of MSD Inventions. For the avoidance of
doubt, any Invention [***]is a MSD Invention. Intensity hereby assigns its right, title and interest to any and all MSD Inventions to
MSD.

 

10.4.
Mutual Freedom to Operate for Combination Inventions.

 

10.4.1. Intensity License
to MSD. Intensity hereby grants to MSD a non-exclusive, worldwide, royalty-free, fully paid-up, transferable and sublicensable license
to any patent Controlled by Intensity that [***] (the “Intensity Background Patents”) solely for the purposes of:
[***].

 

10.4.2. MSD License to Intensity.
MSD hereby grants to Intensity a non-exclusive, worldwide, royalty-free, fully paid-up, transferable and sublicensable license to any
patent Controlled by MSD that [***] (the “MSD Background Patents”) solely for the purposes of: [***].

 

10.4.3.
No Other Rights. For clarity, the terms of this Section 10.4 do not (a) provide MSD with any rights, title or interest
or any license to the Intensity Background Patents except [***] or (b) provide Intensity with any rights, title or interest or any license
to the MSD Background Patents except [***].

 

10.4.4. Termination.
[***]

 

10.5.
Ownership of Other Inventions. Ownership of all Inventions other than Jointly Owned
Inventions, MSD Inventions and Intensity Inventions shall be based on inventorship as determined under United States patent law.

 

11.
Reprints; Rights of Cross-Reference.

 

Consistent with applicable
copyright and other laws, each Party may use, refer to, and disseminate reprints of scientific, medical and other published articles and
materials from journals, conferences and/or symposia relating to the Study that disclose the name of a Party, provided, however,
that such use does not constitute an endorsement of any commercial product or service by the other Party.

 

12.
Publications; Press Releases.

 

12.1.
Clinical Trial Registry. Intensity shall register
the Intensity Clinical Trial with the Clinical Trials Registry located at www.clinicaltrials.gov and is committed to timely publication
of the results following completion of the Study, after taking appropriate action to secure intellectual property rights (if any) arising
from the Study. The publication of the results of the Study will be in accordance with the Protocol.

 

    19

     

    

 

12.2.
Publication. Each Party shall use reasonable efforts
to publish or present scientific papers dealing with the Study in accordance with accepted scientific practice. The Parties agree that
prior to submission of the results of the Study for publication or presentation or any other dissemination of such results including oral
dissemination, the publishing Party shall invite the other to comment on the content of the material to be published, presented, or otherwise
disseminated according to the following procedure:

 

12.2.1. 
At least [***] prior to submission for [***], the publishing Party shall provide to the other Party the full details of the proposed
publication, presentation, or dissemination in an electronic version (cd-rom or email attachment). Upon written request from the non-publishing
Party, the publishing Party agrees not to submit data for publication/presentation/dissemination for an additional [***] in order to allow
for actions to be taken to preserve rights for patent protection.

 

12.2.2. 
The publishing Party shall give reasonable consideration to any request by the other Party made within the periods mentioned in
Section 12.2.1 to modify the publication and the Parties shall work in good faith and in a timely manner to resolve any issue regarding
the content for publication.

 

12.2.3. 
The publishing Party shall remove all Confidential Information of the other Party before finalizing the publication.

 

12.3.
Press Releases. Promptly following the Effective
Date, Intensity may issue the press release attached hereto as Appendix C. Unless otherwise required by Applicable Law, neither
Party shall make any other public announcement concerning this Agreement without the prior written consent of the other Party. To the
extent a Party desires to make such public announcement, such Party shall provide the other Party with a draft thereof at least [***]
prior to the date on which such Party would like to make the public announcement.

 

13.
Representations and Warranties; Disclaimers.

 

13.1.
Due Authorization. Each of Intensity and MSD represents
and warrants to the other that: (a) it has the corporate power and authority and the legal right to enter into this Agreement and perform
its obligations hereunder; (b) it has taken all necessary corporate action on its part required to authorize the execution and delivery
of this Agreement and the performance of its obligations hereunder; and (c) this Agreement has been duly executed and delivered on behalf
of such Party and constitutes a legal, valid and binding obligation of such Party that is enforceable against it in accordance with its
terms.

 

13.2.
Compounds.

 

13.2.1. Intensity Compound.
Intensity hereby represents and warrants to MSD that: [***] Intensity has the full right, power and authority to grant all of the licenses
granted to MSD under this Agreement; [***] Intensity Controls the Intensity Compound.

 

13.2.2.
MSD Compound. MSD hereby represents and warrants to Intensity that: [***] MSD has the full right, power and authority to
grant all of the licenses granted to Intensity under this Agreement; [***] MSD Controls the MSD Compound.

 

13.3.
Results. Intensity does not undertake that the Study
shall lead to any particular result, nor is the success of the Study guaranteed. Neither Party shall be liable for any use that the other
Party may make of the Clinical Data or shared Sample Testing Results, nor for advice or information given in connection therewith.

 

    20

     

    

 

13.4.
Anti-Corruption.

 

13.4.1.
In performing their respective obligations hereunder, the Parties acknowledge that the corporate policies and/or Codes of Conduct
of Intensity and MSD and their respective Affiliates require that each Party’s business be conducted within the letter and spirit
of the law. By signing this Agreement, each Party agrees to conduct the business contemplated herein in a manner that is consistent with
all Applicable Law, including the Stark Act, Anti-Kickback Statute, Sunshine Act, and the U.S. Foreign Corrupt Practices Act and agrees
to abide by the spirit of the other Party’s guidelines, which may be provided by such other Party from time to time.

 

13.4.2.
Specifically, each Party represents and warrants that it and Third Parties acting on its behalf have not, and covenants that it,
its Affiliates, and its and its Affiliates’ directors, employees, officers, and anyone acting on its behalf, will not, in connection
with the performance of this Agreement, directly or indirectly, make, promise, authorize, ratify or offer to make, or take any action
in furtherance of, any payment or transfer of anything of value for the purpose of influencing, inducing or rewarding any act, omission
or decision to secure an improper advantage; or improperly assisting it in obtaining or retaining business for it or the other Party,
or in any way with the purpose or effect of public or commercial bribery.

 

13.4.3.
Neither Party shall contact, or otherwise knowingly meet with, any Government Official for the purpose of discussing activities
arising out of or in connection with this Agreement, without the prior written approval of the other Party, except where such meeting
is consistent with the purpose and terms of this Agreement and in compliance with Applicable Law.

 

13.4.4.
Each Party represents and warrants that it (a) is not excluded, debarred, suspended, proposed for suspension or debarment, in Violation
or otherwise ineligible for government programs; (b) has not employed or subcontracted with any Person for the performance of the Study
who is excluded, debarred, suspended, proposed for suspension or debarment, or is in Violation or otherwise ineligible for government
programs; and (c) has conducted anti-corruption and bribery (e.g., FCPA) due diligence review of all Third Parties it may hire to act
on its behalf in connection with its performance under this Agreement.

 

13.4.5. Each Party represents
and warrants that, except as disclosed to the other in writing prior to the Effective Date, such Party: (a) does not have any interest
that directly or indirectly conflicts with its proper and ethical performance of this Agreement; (b) shall maintain arm’s length
relations with all Third Parties with which it deals for or on behalf of the other in performance of this Agreement; and (c) has provided
complete and accurate information and documentation to the other Party, the other Party’s Affiliates and its and their personnel
in the course of any due diligence conducted by the other Party for this Agreement, including disclosure of any officers, employees,
owners or Persons directly or indirectly retained by such Party in relation to the performance of this Agreement who are Government Officials
or relatives of Government Officials. Each Party shall make all further disclosures to the other Party as are necessary to ensure the
information provided remains complete and accurate throughout the Term. Subject to the foregoing, each Party agrees that it shall not
hire or retain any Government Official to assist in its performance of this Agreement, with the sole exception of conduct of or participation
in clinical trials under this Agreement, provided that such hiring or retention shall be subject to the completion by the hiring
or retaining Party of a satisfactory anti-corruption and bribery (e.g., FCPA) due diligence review of such Government Official. Each
Party further covenants that any future information and documentation submitted to the other Party as part of further due diligence or
a certification shall be complete and accurate.

 

13.4.6.
Each Party shall have the right during the Term, [***] to conduct an investigation and audit of the other Party’s activities,
books and records, to the extent they relate to that other Party’s performance under this Agreement, to verify compliance with the
terms of this Section 13.4. Such other Party shall cooperate fully with such investigation or audit, the scope, method, nature
and duration of which shall be at the sole reasonable discretion of the Party requesting such audit.

 

    21

     

    

 

13.4.7. Each Party shall use
commercially reasonable efforts to ensure that all transactions under the Agreement are properly and accurately recorded in all material
respects on its books and records and that each document upon which entries in such books and records are based is complete and accurate
in all material respects. Each Party further represents, warrants and covenants that all books, records, invoices and other documents
relating to payments and expenses under this Agreement are and shall be complete and accurate and reflect in reasonable detail the character
and amount of transactions and expenditures. Each Party shall maintain a system of internal accounting controls reasonably designed to
ensure that no off-the-books or similar funds or accounts will be maintained or used in connection with this Agreement.

 

13.4.8.
Each Party agrees that in the event that the other Party believes in good faith that there has been a possible violation of any
provision of Section 13.4, such other Party may make full disclosure of such belief and related information needed to support such
belief at any time and for any reason to any competent government bodies and agencies, and to anyone else such Party determines in good
faith has a legitimate need to know.

 

13.4.9.
Each Party shall comply with its own ethical business practices policy and any corporate integrity agreement (if applicable) to
which it is subject, and shall conduct its Study-related activities in accordance with Applicable Law. Each Party shall ensure that all
of its employees involved in performing its obligations under this Agreement are made specifically aware of the compliance requirements
under this Section 13.4. In addition, each Party shall ensure that all such employees participate in and complete mandatory compliance
training to be conducted by each Party, including specific training on anti-bribery and corruption, prior to his/her performance of any
obligations or activities under this Agreement. Each Party shall certify its continuing compliance with the requirements under this Section
13.4 on a periodic basis during the Term in such form as may be reasonably specified by the other Party.

 

13.4.10.
Each Party shall have the right to terminate this Agreement immediately upon violation of this Section 13.4 in accordance
with Section 6.6.

 

13.5.
DISCLAIMER. EXCEPT AS EXPRESSLY PROVIDED HEREIN,
MSD MAKES NO WARRANTIES, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, WITH RESPECT
TO THE MSD COMPOUND, AND INTENSITY MAKES NO WARRANTIES, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A
PARTICULAR PURPOSE, WITH RESPECT TO THE INTENSITY COMPOUND.

 

14.
Insurance; Indemnification; Limitation of Liability.

 

14.1.
Insurance. Each Party warrants that it maintains
a policy or program of insurance or self-insurance at levels sufficient to support the indemnification obligations assumed herein. Upon
request, a Party shall provide evidence of such insurance.

 

14.2.
Indemnification.

 

14.2.1. Indemnification
by Intensity. Intensity agrees to defend, indemnify and hold harmless MSD, its Affiliates, and its and their employees, directors,
Subcontractors and agents from and against any loss, damage, reasonable costs and expenses (including reasonable attorneys’ fees
and expenses) incurred in connection with any claim, proceeding, or investigation by a Third Party arising out of [***] (a “Liability”),
except to the extent that such Liability [***].

 

14.2.2.
Indemnification by MSD. MSD agrees to defend, indemnify
and hold harmless Intensity, its Affiliates, and its and their employees, directors, Subcontractors and agents from and against any Liability
to the extent such Liability was directly caused by [***].

 

14.2.3. Procedure.
The obligations of MSD and Intensity under this Section 14.2 are conditioned upon the delivery of written notice to MSD or Intensity,
as the case might be, of any potential Liability within a reasonable time after a Party becomes aware of such potential Liability. The
indemnifying Party will have the right to assume the defense of any suit or claim related to the Liability (using counsel reasonably
satisfactory to the indemnified Party) if it has assumed responsibility for the suit or claim in writing; provided that the indemnified
Party may assume the responsibility for such defense to the extent the indemnifying Party does not do so in a timely manner. The indemnified
Party may participate in (but not control) the defense thereof at its sole cost and expense. The Party controlling such defense (the
“Defending Party”) shall keep the other Party (the “Other Party”) advised of the status of such
action, suit, proceeding or claim and the defense thereof and shall consider recommendations made by the Other Party with respect thereto.
The Defending Party shall not agree to any settlement of such action, suit, proceeding or claim without the prior written consent of
the Other Party, which shall not be unreasonably withheld. The Defending Party, but solely to the extent the Defending Party is also
the indemnifying Party, shall not agree to any settlement of such action, suit, proceeding or claim or consent to any judgment in respect
thereof that does not include a complete and unconditional release of the Other Party from all liability with respect thereto or that
imposes any liability or obligation on the Other Party without the prior written consent of the Other Party.

 

    22

     

    

 

14.2.4.
Study Subjects. Intensity shall not offer compensation on
behalf of MSD to any Study subject or bind MSD to any indemnification obligations in favor of any Study subject. MSD shall not offer compensation
on behalf of Intensity to any Study subject or bind Intensity to any indemnification obligations in favor of any Study subject.

 

14.3.
LIMITATION OF LIABILITY. IN NO EVENT SHALL EITHER
PARTY (OR ANY OF ITS AFFILIATES OR SUBCONTRACTORS) BE LIABLE TO THE OTHER PARTY UNDER ANY THEORY FOR, NOR SHALL ANY INDEMNIFIED PARTY
HAVE THE RIGHT TO RECOVER, ANY SPECIAL, INDIRECT, INCIDENTAL, CONSEQUENTIAL OR OTHER SIMILAR DAMAGES OR ANY PUNITIVE DAMAGES OR ANY LOST
PROFIT, LOST SALE OR LOST OPPORTUNITY DAMAGES (WHETHER SUCH CLAIMED DAMAGES ARE DIRECT OR INDIRECT), WHETHER ARISING DIRECTLY OR INDIRECTLY
OUT OF (A) THE MANUFACTURE OR USE OF ANY COMPOUND SUPPLIED HEREUNDER OR (B) ANY BREACH OF OR FAILURE TO PERFORM ANY OF THE PROVISIONS
OF THIS AGREEMENT OR ANY REPRESENTATION, WARRANTY OR COVENANT CONTAINED IN OR MADE PURSUANT TO THIS AGREEMENT, EXCEPT THAT SUCH LIMITATION
SHALL NOT APPLY TO DAMAGES PAID OR PAYABLE TO A THIRD PARTY BY AN INDEMNIFIED PARTY FOR WHICH THE INDEMNIFIED PARTY IS ENTITLED TO INDEMNIFICATION
HEREUNDER OR WITH RESPECT TO DAMAGES ARISING OUT OF OR RELATED TO A PARTY’S BREACH OF ITS OBLIGATIONS UNDER THIS AGREEMENT WITH
RESPECT TO [***].

 

15.
Use of Name.

 

Except as otherwise provided
herein, neither Party shall have any right, express or implied, to use in any manner the name or other designation of the other Party
or any other trade name, trademark or logo of the other Party for any purpose in connection with the performance of this Agreement without
the other Party’s prior written consent.

 

16.
Force Majeure.

 

If, in the performance of
this Agreement, one of the Parties is prevented, hindered or delayed by reason of any cause beyond such Party’s reasonable control
(e.g., war, riots, fire, strike, acts of terror, governmental laws), such Party shall be excused from performance to the extent that it
is necessarily prevented, hindered or delayed (“Force Majeure”). The non-performing Party shall notify the other Party
of such Force Majeure within [***] after such occurrence by giving written notice to the other Party stating the nature of the event,
its anticipated duration, and any action being taken to avoid or minimize its effect. The suspension of performance will be of no greater
scope and no longer duration than is necessary and the non-performing Party shall use commercially reasonable efforts to remedy its inability
to perform.

 

17.
Entire Agreement; Amendment; Waiver.

 

This Agreement, together with
the Appendices and Schedules hereto and the Related Agreements, constitutes the sole, full and complete agreement by and between the Parties
with respect to the subject matter of this Agreement, and all prior agreements, understandings, promises and representations, whether
written or oral, with respect thereto are superseded by this Agreement. In the event of a conflict between a Related Agreement and this
Agreement, the terms of this Agreement shall control. No amendments, changes, additions, deletions or modifications to or of this Agreement
shall be valid unless reduced to writing and signed by the Parties hereto. Any term or condition of this Agreement may be waived at any
time by the Party that is entitled to the benefit thereof, but no such waiver shall be effective unless set forth in a written instrument
duly executed by or on behalf of the Party waiving such term or condition. The waiver by either Party of any right hereunder or of the
failure to perform or of a breach by the other Party shall not be deemed a waiver of any other right hereunder or of any other breach
or failure by said other Party whether of a similar nature or otherwise.

 

18.
Assignment and Affiliates.

 

Neither Party shall assign
or transfer this Agreement without the prior written consent of the other Party; provided, however, that either Party may
assign all or any part of this Agreement to one or more of its Affiliates without the other Party’s consent, and any and all rights
and obligations of either Party may be exercised or performed by its Affiliates, provided that such Affiliates agree to be bound
by this Agreement.

 

19.
Invalid Provision.

 

If any provision of this Agreement
is held to be illegal, invalid or unenforceable, the remaining provisions shall remain in full force and effect and will not be affected
by the illegal, invalid or unenforceable provision. In lieu of the illegal, invalid or unenforceable provision, the Parties shall negotiate
in good faith to agree upon a reasonable provision that is legal, valid and enforceable to carry out as nearly as practicable the original
intention of the entire Agreement.

 

20.
No Additional Obligations.

 

Intensity and MSD have no
obligation to renew this Agreement or apply this Agreement to any clinical trial other than the Study. Nothing in this Agreement obligates
the Parties to enter into any other agreement (other than the Related Agreements) at this time or in the future, including any Subsequent
Study Agreement.

 

    23

     

    

 

21.
Governing Law; Dispute Resolution.

 

21.1.
The Parties shall attempt in good faith to settle all disputes arising out of or in connection with this Agreement in an amicable
manner. Any claim, dispute or controversy arising out of or relating to this Agreement, including the breach, termination or validity
hereof or thereof, shall be governed by and construed in accordance with the substantive laws of the State of New York, without giving
effect to its choice of law principles.

 

21.2.
Nothing contained in this Agreement shall deny either Party the right to seek injunctive or other equitable relief from a court
of competent jurisdiction in the context of a bona fide emergency or prospective irreparable harm, and such an action may be filed or
maintained notwithstanding any ongoing discussions between the Parties.

 

22.
Notices.

 

All notices or other communications
that are required or permitted hereunder shall be in writing and delivered personally, sent by facsimile (and promptly confirmed by personal
delivery or overnight courier), or sent by internationally-recognized overnight courier addressed as follows:

 

If to Intensity, to:

 

Intensity Therapeutics, Inc.

61 Wilton Road

3rd Floor

Westport, CT 06880

Attention: Chief Executive Officer

 

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

 

*

 

If to MSD, to:

 

MSD International GmbH

Weystrasse 20

6000 Luzern 6

Switzerland

Attention: Director

[***]

 

With copies (which shall not constitute notice) to:

 

[***]

 

[***]

 

[***]

 

23.
Relationship of the Parties.

 

The relationship between the
Parties is and shall be that of independent contractors, and does not and shall not constitute a partnership, joint venture, agency or
fiduciary relationship. Neither Party shall have the authority to make any statements, representations or commitments of any kind, or
take any actions, that are binding on the other Party, except with the prior written consent of the other Party to do so. All Persons
employed by a Party will be the employees of such Party and not of the other Party and all costs and obligations incurred by reason of
any such employment shall be for the account and expense of such Party.

 

    24

     

    

 

24.
Counterparts and Due Execution.

 

This Agreement and any amendment
may be executed in any number of counterparts (including by way of facsimile or electronic transmission), each of which shall be deemed
an original, but all of which together shall constitute one and the same instrument, notwithstanding any electronic transmission, storage
and printing of copies of this Agreement from computers or printers. When executed by the Parties, this Agreement shall constitute an
original instrument, notwithstanding any electronic transmission, storage and printing of copies of this Agreement from computers or printers.
For clarity, facsimile signatures and signatures transmitted via PDF shall be treated as original signatures.

 

25.
Construction.

 

Except where the context otherwise
requires, wherever used, the singular will include the plural, the plural the singular, the use of any gender will be applicable to all
genders, and the word “or” is used in the inclusive sense (and/or). Whenever this Agreement refers to a number of [***],
unless otherwise specified, such number refers to [***]. The captions of this Agreement are for convenience of reference only and in no
way define, describe, extend or limit the scope or intent of this Agreement or the intent of any provision contained in this Agreement.
The term “including” as used herein shall be deemed to be followed by the phrase “without limitation”
or like expression. The term “will” as used herein means shall. The terms “hereof”, “hereto”,
“herein” and “hereunder” and words of similar import when used in this Agreement refer to this Agreement
as a whole and not to any particular provision of this Agreement. References to “Article,” “Section”,
“Appendix” or “Schedule” are references to the numbered sections of this Agreement and the appendices
attached to this Agreement, unless expressly stated otherwise. A reference to any statute, law, rule, regulation or directive will be
construed as a reference to such statute, law, rule, regulation or directive as amended, extended, repealed and replaced or re-enacted
from time to time. Except where the context otherwise requires, references to this “Agreement” shall include the appendices
attached to this Agreement. The language of this Agreement shall be deemed to be the language mutually chosen by the Parties and no rule
of strict construction will be applied against either Party hereto.

 

[Remainder of page intentionally left blank.]

 

    25

     

    

 

IN WITNESS WHEREOF, the respective
representatives of the Parties have executed this Agreement as of the Effective Date.

 

	Intensity Therapeutics, Inc.	 
	 	 
	By:	 /s/ Lewis Bender	 
	Name 	Lewis Bender	 
	Title	President and CEO	 

 

	MSD International GmbH	 
	 	 
	By:	*                 	 
	Director	 	 
	Title	 

 

     

     

    

 

Appendix A

 

PROTOCOL

 

*

 

     

     

    

 

Appendix B

 

SUPPLY OF COMPOUND

 

*

 

     

     

    

 

Appendix C

 

FORM OF INTENSITY PRESS RELEASE

 

     

     

    

 

Schedule I

 

DATA SHARING SCHEDULE

 

*

 

     

     

    

 

Schedule II

 

SAMPLE TESTING SCHEDULE

 

*

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00335-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00335-of-00352.parquet"}]]