Document:

Exhibit 10.17

 

NOTE: PORTIONS
OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION
(“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]”
IN PLACE OF THE REDACTED LANGUAGE.

 

AMENDMENT TO JOINT VENTURE FOR R&D
AGREEMENT

 

This amendment to
Joint Venture for R&D Agreement (this “Amendment”) is entered into as of March 12, 2015, by and between Yissum
Research and Development Company of the Hebrew University of Jerusalem Ltd. (“Yissum”) and Intec Pharma Ltd.
(“Company”) (each to be referred to as a “Party” and together as the “Parties”).

 

		WHEREAS,	the Parties entered into a Joint
                                         Venture for R&D Agreement on June 1, 2000, which was extended and amended on October
                                         5, 2004 and July 13, 2005 (the agreement and its amendments shall be referred together
                                         in this Amendment as the “Agreement”); and

 

		WHEREAS,	in connection with
the pending grant of a sublicense by the Company to Biogen Idec, the Parties wish to amend
the Agreement as set forth herein, to become effective only with respect to such sublicense to be granted to Biogen
Idec, as of the date such sublicense agreement is executed with Biogen Idec; 

 

NOW, THEREFORE, the Parties hereto, intending to be legally
bound, hereby agree as follows:

 

Except as specifically defined herein,
all terms used in this Amendment shall have the meaning ascribed to them in the Agreement.

 

		1.	Amendment

 

Effective as of the date of this Amendment, the Agreement shall
be amended as follows:

 

		1.1	Section 2 of Appendix E of the Agreement shall be
amended to read as follows:

 

“The Company will pay Yissum Sublicense Fees
during the Royalty Term at a rate of 15% of all Sublicense Consideration.”

 

		1.2	The following definitions will be added to Appendix
E of the Agreement:

 

“Royalty Term” means, on a country-by-country
basis, a period of 15 years from the date of the First Commercial Sale in each country.

 

“Sublicense Consideration”
shall mean any proceeds or consideration or benefit of any kind whatsoever that the Company or its Affiliate receives from a Sublicensee
to the extent that such is a direct result of the grant of a Sublicense or an option to obtain such Sublicense, other than research
and development funding that is actually used to cover the actual cost for research and development of a Product performed under
the Sublicense agreement.

 

		1.3	The term “Distributor” and all references thereto
                                         (including within the Net Sales definition) shall be deleted.

 

		1.4	The term “Product” shall be
                                         amended to read as follows:

 

“Product” shall mean
any product, process or service, the development, manufacture or sale of which exploits, comprises, contains, incorporates, is
related to, or based on any of the patents and/or patent applications set forth in Exhibit 1.4 attached hereto.

 

		1.5	The Parties acknowledge and agree that
                                         (i) the patent applications and patents set forth on Exhibit 1.5(a) are solely
                                         owned by Yissum and are subject to an exclusive license by Yissum to the Company pursuant
                                         to the Agreement; and (ii) the Company is the sole and exclusive owner of the patents
                                         and/or patent applications set forth in Exhibit 1.5(b) and all inventions disclosed
                                         or claimed in such patents and patent applications (collectively, “Intec Technology”)
                                         and Yissum acknowledges that it has no ownership right or interest in or claim with respect
                                         to such Intec Technology apart from the right to receive Royalties and Sublicense Fees
                                         as provided in the Agreement.

 

    	 

    	 

    

 

NOTE: PORTIONS
OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION
(“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]”
IN PLACE OF THE REDACTED LANGUAGE.

 

		1.6	Section 6(f) of the Agreement shall be amended to read as follows:

 

“Any Sublicensee may sublicense
the rights granted to such Sublicensee by the Company through multiple tiers without notice to or consent of Yissum, provided that
such Sublicensee is Biogen
                                         Idec.”

 

		1.7	The following Section 15(f) shall be added to the Agreement:

 

“15(f). In the
event that the Agreement is terminated for any reason whatsoever, then, at the request of Biogen
                                         Idec, if it is not
then in material default of the applicable Sublicense, Yissum shall enter into a new license agreement with
Biogen
                                         Idec on substantially the same terms as Biogen
                                         Idec, provided, however, that such terms shall
be amended, if necessary, to the extent required to ensure that such new agreement does not impose any obligations or
liabilities on Yissum which are not included in or are greater in scope than Yissum’s obligations or liabilities under
this Agreement”

 

		1.8	Yissum acknowledges and agrees that, notwithstanding the
provisions of Section 6(e), Section 6(f) and Section 11(f) of the Agreement, Biogen
                                         Idec nor a Sub-sublicensee of Biogen
                                         Idec
shall be required to enter into any direct undertaking or agreement of any kind with Yissum.

 

		2.	Effectiveness of Amended Agreement

 

The Agreement, as amended
hereby, shall continue in full force and effect as originally constituted and is hereby ratified and affirmed by the Parties.

 

IN WITNESS
WHEREOF, the parties have caused this Third Amendment to be executed by their duly authorized representatives as of the date first
written above.

 

	Yissum Research and Development	 	Intec Pharma Ltd.
	Company of the Hebrew University	 	 
	of Jerusalem Ltd.	 	 
	 	 	 
	By:	/s/ Yaacov Michlin and Shoshi Keynan	 	By:	/s/ Zeev Weiss
	 	 	 	 	 
	Name:	
        Yaacov Michlin – CEO and

        Shoshi Keynan – VP Licensing, Pharmaceuticals
	 	Name:	Zeev Weiss
	 	 	 	 	 
	Title:	 	 	Title:	 

 

    	 

    	 

    

 

NOTE: PORTIONS
OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION
(“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]”
IN PLACE OF THE REDACTED LANGUAGE.

 

Exhibit 1.4

 

	1.Patent	Yissum Research Development Company of the Hebrew University of Jerusalem Gastroretentive

Controlled Release Pharmaceutical
Dosage Forms -(Client Case:IN-1-IL) - (0047465)	 

 

	Country	 	App. No.	 	Our 

Ref.	 	Filed	 	Patent No./ 

Publication No.	 	Grant Date/ 

Pub. Date	 	Next Renewal
	Israel	 	149853	 	1634914	 	20/11/2000	 	149853	 	01/04/2007	 	20/11/2018
	Patent Cooperation Treaty	 	PCT/IL00/00774	 	1635077	 	20/11/2000	 	WO 01/37812	 	31/05/2001	 	 
	Australia	 	16477/01	 	1635101	 	20/11/2000	 	783062	 	05/01/2006	 	20/11/2015
	Canada	 	2,392,361	 	1635119	 	20/11/2000	 	2,392,361	 	19/01/2010	 	20/11/2015
	Japan	 	2001-539427	 	1635127	 	20/11/2000	 	4679020	 	10/02/2011	 	10/02/2015
	United  States of America	 	10/157,325	 	1635143	 	20/11/2000	 	6,685,962	 	03/02/2004	 	03/08/2015
	South Africa	 	200204268	 	1635150	 	20/11/2000	 	2002/4268	 	26/11/2003	 	20/11/2015
	European Patent Office	 	00978993.4	 	1635168	 	20/11/2000	 	1235557	 	27/07/2005	 	 
	France	 	00978993.4	 	1635572	 	20/11/2000	 	1235557	 	27/07/2005	 	30/11/2015
	Germany	 	00978993.4	 	1635580	 	20/11/2000	 	60021604	 	27/07/2005	 	30/11/2015
	Spain	 	00978993.4	 	1635598	 	20/11/2000	 	1235557	 	27/07/2005	 	30/11/2015
	Switzerland	 	00978993.4	 	1635606	 	20/11/2000	 	EP1235557	 	27/07/2005	 	30/11/2015
	Ireland	 	00978993.4	 	1635630	 	20/11/2000	 	1235557	 	27/07/2005	 	30/11/2015
	Italy	 	00978993.4	 	1635648	 	20/11/2000	 	1235557	 	27/07/2005	 	30/11/2015
	United Kingdom	 	00978993.4	 	1635655	 	20/11/2000	 	1235557	 	27/07/2005	 	30/11/2015

 

    	 

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT
ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

	2.Patent	Intec Pharma Ltd. 

Method and Apparatus for Forming Delivery
Devices for Oral Intake of an Agent -(Client Case:IN-3-USP) -(0047512)	 

 

	Country	 	App. No.	 	Our 

Ref.	 	Filed	 	Patent No./ 

Publication No.	 	Grant Date/ 

Pub. Date	 	Next Renewal
	United States of America	 	60/759,554	 	1636661	 	18/01/2006	 	 	 	 	 	 
	Patent Cooperation Treaty	 	IL2007/000070	 	1724418	 	18/01/2007	 	WO2007/083309	 	26/07/2007	 	 
	European Patent Office	 	07700757.3	 	1853217	 	18/01/2007	 	1981465	 	22/10/2008	 	31/01/2015
	Canada	 	2,637,655	 	1853225	 	18/01/2007	 	 	 	 	 	18/01/2015
	Israel	 	192896	 	1853233	 	18/01/2007	 	192896	 	28/09/2013	 	18/01/2017
	Japan	 	2008-550909	 	1853241	 	18/01/2007	 	5399715	 	01/11/2013	 	01/11/2016
	United States of America	 	12/087,888	 	1853258	 	18/01/2007	 	8,298,574	 	30/10/2012	 	30/04/2016
	United States of America	 	13/613,718	 	2181500	 	18/01/2007	 	8,753,678	 	17/06/2014	 	17/12/2017
	United States of America	 	13/800,471	 	2214433	 	18/01/2007	 	8,609,136	 	17/12/2013	 	17/06/2017
	Japan	 	2013-054912	 	2216375	 	18/01/2007	 	2013-129669	 	04/07/2013	 	 
	Israel	 	226561	 	2228767	 	18/01/2007	 	 	 	 	 	 
	Israel	 	226563	 	2229192	 	18/01/2007	 	 	 	 	 	 
	Israel	 	226564	 	2229205	 	18/01/2007	 	 	 	 	 	 
	United	 	 	 	 	 	 	 	 	 	 	 	 
	States of America	 	14/305,600	 	2275337	 	18/01/2007	 	
        US-2014-

        0360132
	 	11/12/2014	 	 

 

    	 

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT
ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

	3.Patent	Intec Pharma Ltd. 

A Gastro-Retentive System for the
Delivery of Macromolecules -(Client Case:IN-4-USP) -(0047513)	 

 

	Country	 	App. No.	 	Our 

Ref.	 	Filed	 	Patent No./ 

Publication No.	 	Grant Date/ 

Pub. Date	 	Next Renewal
	United States of America	 	60/773,316	 	1636679	 	15/02/2006	 	 	 	 	 	 
	Patent Cooperation Treaty	 	IL2007/000212	 	1731967	 	15/02/2007	 	WO 2007/093999	 	23/08/2007	 	 
	European Patent Office	 	07713260.3	 	1859727	 	15/02/2007	 	1991210	 	19/11/2008	 	28/02/2015
	Canada	 	2,642,479	 	1859735	 	15/02/2007	 	2,642,479	 	19/08/2014	 	15/02/2015
	Israel	 	193450	 	1859743	 	15/02/2007	 	 	 	 	 	 
	United States of 

America	 	12/223,965	 	1859750	 	15/02/2007	 	
        US-2009-

        0304768
	 	10/12/2009	 	 

 

	4.Patent	Intec Pharma Ltd. 

Carbidopa/Lipodopa Gastroretentive
Drug Delivery -(Client Case:IN-7-IL) -(060812)	 

 

	Country	 	App. No.	 	Our 

Ref.	 	Filed	 	Patent No./ 

Publication No.	 	Grant Date/ 

Pub. Date	 	Next Renewal
	Israel	 	208708	 	2051008	 	17/04/2009	 	 	 	 	 	 

 

    	 

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT
ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

	4.Patent	Intec Pharma Ltd. 

Carbidopa/Lipodopa Gastroretentive
Drug Delivery -(Client Case:IN-7-IL) -(060812)	 

 

	Country	 	App. No.	 	Our 

Ref.	 	Filed	 	Patent No./ 

Publication No.	 	Grant Date/ 

Pub. Date	 	Next Renewal
	United States of America	 	12/937,955	 	2144590	 	17/04/2009	 	8,771,730	 	08/07/2014	 	08/01/2018
	Patent Cooperation Treaty	 	PCT/IB2009/005691	 	2153336	 	17/04/2009	 	WO 2009/144558	 	 	 	 
	Canada	 	2,721,493	 	2153341	 	17/04/2009	 	 	 	 	 	17/04/2015
	China	 	200980120103.9	 	2153353	 	17/04/2009	 	CN102149369A	 	10/08/2011	 	 
	European Patent Office	 	09754186.6	 	2153363	 	17/04/2009	 	2276473	 	26/01/2011	 	30/04/2015
	India	 	7638/DELNP/2010	 	2153372	 	17/04/2009	 	 	 	 	 	 
	Japan	 	2011-504573	 	2153395	 	17/04/2009	 	 	 	 	 	 
	Japan	 	 	 	2330464	 	 	 	 	 	 	 	 
	Republic of Korea	 	10-2010-7025481	 	2153405	 	17/04/2009	 	 	 	 	 	 
	South Africa	 	2010/07797	 	2153411	 	17/04/2009	 	2010/07797	 	27/07/2011	 	17/04/2015
	Hong Kong	 	11113197.1	 	2153823	 	17/04/2009	 	1158545	 	20/07/2012	 	17/04/2018
	United States of America	 	14/322,436	 	2286884	 	17/04/2009	 	
        US-2014-

        0314842
	 	23/10/2014	 	 
	United States of America	 	14/322,460	 	2286894	 	17/04/2009	 	
        US-2015-

        0010624
	 	08/01/2015	 	 

 

    	 

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT
ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

	5.Patent	Intec Pharma Ltd. 

ZALEPLON GASTRORETENTIVE DRUG DELIVERY
SYSTEM -(Client Case:IN-8-IL) -(060811)	 

 

	Country	 	App. No.	 	Our 

Ref.	 	Filed	 	Patent No./ 

Publication No.	 	Grant Date/ 

Pub. Date	 	Next Renewal
	Israel	 	213376	 	2127779	 	19/10/2009	 	 	 	 	 	 
	Patent Cooperation Treaty	 	PCT/IB2009/007731	 	2153230	 	19/10/2009	 	WO 2010/064139	 	 	 	 
	China	 	200980153943.5	 	2153258	 	19/10/2009	 	CN102300463A	 	28/12/2011	 	19/10/2014
	European Patent Office	 	09830077.5	 	2153268	 	19/10/2009	 	2378883	 	26/10/2011	 	31/10/2014
	India	 	5067/DELNP/2011	 	2153278	 	19/10/2009	 	 	 	 	 	 
	South Africa	 	2011/04620	 	2153314	 	19/10/2009	 	2011/04620	 	28/03/2012	 	19/10/2015
	United States of America	 	13/132,899	 	2153326	 	19/10/2009	 	
        US-2012-

        0021051
	 	26/01/2012	 	 
	Japan	 	2014-231788	 	2320509	 	19/10/2009	 	 	 	 	 	 

 

    	 

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT
ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

	6.Patent	Intec Pharma Ltd. 

Accordion pill comprising levodopa
for an improved treatment of Parkinson’s Disease symptoms -(Client Case:IN-11-USP) -(060810)	 

 

	Country	 	App. No.	 	Our 

Ref.	 	Filed	 	Patent No./ 

Publication No.	 	Grant Date/ 

Pub. Date	 	Next Renewal
	United States of America	 	61/408,985	 	2153012	 	01/11/2010	 	 	 	 	 	 
	
        Patent Cooperation Treaty
	 	PCT/IB2011/002888	 	2153034	 	01/11/2011	 	WO 2012/059815	 	10/05/2012	 	 
	Canada	 	2,815,959	 	2222633	 	01/11/2011	 	 	 	 	 	01/11/2015
	European Patent Office	 	11805936.9	 	2222641	 	01/11/2011	 	2635272	 	11/09/2013	 	30/11/2015
	India	 	4158/DELNP/2013	 	2222652	 	01/11/2011	 	 	 	 	 	 
	Israel	 	226000	 	2222662	 	01/11/2011	 	 	 	 	 	 
	United States of America	 	13/882,768	 	2222675	 	01/11/2011	 	
        US-2014-

        0017303
	 	16/01/2014	 	 

 

	7.Patent	Intec Pharma Ltd.

 “[***]”	 

 

	Country	 	App. No.	 	Our 

Ref.	 	Filed	 	Patent No./ 

Publication No.	 	Grant Date/ 

Pub. Date	 	Next Renewal
	“[***]”	 	“[***]”	 	“[***]”	 	“[***]”	 	 	 	 	 	 

 

    	 

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT
ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

	8.Patent	Intec Pharma Ltd. 

“[***]”	 

 

	Country	 	App. No.	 	Our 

Ref.	 	Filed	 	Patent No./ 

Publication No.	 	Grant Date/ 

Pub. Date	 	Next Renewal
	“[***]”	 	“[***]”	 	“[***]”	 	“[***]”	 	 	 	 	 	 

 

	9.Patent	Intec Pharma Ltd. 

“[***]”	 

 

	Country	 	App. No.	 	Our 

Ref.	 	Filed	 	Patent No./ 

Publication No.	 	Grant Date/ 

Pub. Date	 	Next Renewal
	“[***]”	 	“[***]”	 	“[***]”	 	“[***]”	 	 	 	 	 	 

 

	10.Patent	Intec Pharma Ltd. 

“[***]”	 

 

	Country	 	App. No.	 	Our 

Ref.	 	Filed	 	Patent No./ 

Publication No.	 	Grant Date/ 

Pub. Date	 	Next Renewal
	“[***]”	 	“[***]”	 	“[***]”	 	“[***]”	 	 	 	 	 	 

 

    	 

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT
ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

Exhibit 1.5 (a)

 

	1.Patent	Yissum Research Development Company of the Hebrew University of Jerusalem Gastroretentive Controlled Release Pharmaceutical
Dosage Forms -(Client Case:IN-1-IL) - (0047465)	 

 

	Country	 	App. No.	 	Our 

Ref.	 	Filed	 	Patent No./ 

Publication No.	 	Grant Date/ 

Pub. Date	 	Next Renewal
	Israel	 	149853	 	1634914	 	20/11/2000	 	149853	 	01/04/2007	 	20/11/2018
	Patent Cooperation Treaty	 	PCT/IL00/00774	 	1635077	 	20/11/2000	 	WO 01/37812	 	31/05/2001	 	 
	Australia	 	16477/01	 	1635101	 	20/11/2000	 	783062	 	05/01/2006	 	20/11/2015
	Canada	 	2,392,361	 	1635119	 	20/11/2000	 	2,392,361	 	19/01/2010	 	20/11/2015
	Japan	 	2001-539427	 	1635127	 	20/11/2000	 	4679020	 	10/02/2011	 	10/02/2015
	United States of America	 	10/157,325	 	1635143	 	20/11/2000	 	6,685,962	 	03/02/2004	 	03/08/2015
	South Africa	 	200204268	 	1635150	 	20/11/2000	 	2002/4268	 	26/11/2003	 	20/11/2015
	European Patent Office	 	00978993.4	 	1635168	 	20/11/2000	 	1235557	 	27/07/2005	 	 
	France	 	00978993.4	 	1635572	 	20/11/2000	 	1235557	 	27/07/2005	 	30/11/2015
	Germany	 	00978993.4	 	1635580	 	20/11/2000	 	60021604	 	27/07/2005	 	30/11/2015
	Spain	 	00978993.4	 	1635598	 	20/11/2000	 	1235557	 	27/07/2005	 	30/11/2015
	Switzerland	 	00978993.4	 	1635606	 	20/11/2000	 	EP1235557	 	27/07/2005	 	30/11/2015
	Ireland	 	00978993.4	 	1635630	 	20/11/2000	 	1235557	 	27/07/2005	 	30/11/2015
	Italy	 	00978993.4	 	1635648	 	20/11/2000	 	1235557	 	27/07/2005	 	30/11/2015
	United Kingdom	 	00978993.4	 	1635655	 	20/11/2000	 	1235557	 	27/07/2005	 	30/11/2015

 

    	 

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT
ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

Exhibit 1.5 (b)

 

	2.Patent	Intec Pharma Ltd. 

Method and Apparatus for Forming Delivery
Devices for Oral Intake of an Agent -(Client Case:IN-3-USP) -(0047512)	 

 

	Country	 	App. No.	 	Our 

Ref.	 	Filed	 	Patent No./ 

Publication No.	 	Grant Date/ 

Pub. Date	 	Next Renewal
	United  States of  America	 	60/759,554	 	1636661	 	18/01/2006	 	 	 	 	 	 
	Patent Cooperation Treaty	 	IL2007/000070	 	1724418	 	18/01/2007	 	WO2007/083309	 	26/07/2007	 	 
	European Patent Office	 	07700757.3	 	1853217	 	18/01/2007	 	1981465	 	22/10/2008	 	31/01/2015
	Canada	 	2,637,655	 	1853225	 	18/01/2007	 	 	 	 	 	18/01/2015
	Israel	 	192896	 	1853233	 	18/01/2007	 	192896	 	28/09/2013	 	18/01/2017
	Japan	 	2008-550909	 	1853241	 	18/01/2007	 	5399715	 	01/11/2013	 	01/11/2016
	United States of America	 	12/087,888	 	1853258	 	18/01/2007	 	8,298,574	 	30/10/2012	 	30/04/2016
	United States of  America	 	13/613,718	 	2181500	 	18/01/2007	 	8,753,678	 	17/06/2014	 	17/12/2017
	United States of America	 	13/800,471	 	2214433	 	18/01/2007	 	8,609,136	 	17/12/2013	 	17/06/2017
	Japan	 	2013-054912	 	2216375	 	18/01/2007	 	2013-129669	 	04/07/2013	 	 
	Israel	 	226561	 	2228767	 	18/01/2007	 	 	 	 	 	 
	Israel	 	226563	 	2229192	 	18/01/2007	 	 	 	 	 	 
	Israel	 	226564	 	2229205	 	18/01/2007	 	 	 	 	 	 
	United States of America	 	14/305,600	 	2275337	 	18/01/2007	 	
        US-2014-0360132
		11/12/2014	 	 

 

    	 

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT
ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

	3.Patent	Intec Pharma Ltd. 

A Gastro-Retentive System for the
Delivery of Macromolecules -(Client Case:IN-4-USP) -(0047513)	 

 

	Country	 	App. No.	 	Our 

Ref.	 	Filed	 	Patent No./ 

Publication No.	 	Grant Date/ 

Pub. Date	 	Next Renewal
	United States of America	 	60/773,316	 	1636679	 	15/02/2006	 	 	 	 	 	 
	Patent Cooperation Treaty	 	IL2007/000212	 	1731967	 	15/02/2007	 	WO2007/093999	 	23/08/2007	 	 
	European Patent Office	 	07713260.3	 	1859727	 	15/02/2007	 	1991210	 	19/11/2008	 	28/02/2015
	Canada	 	2,642,479	 	1859735	 	15/02/2007	 	2,642,479	 	19/08/2014	 	15/02/2015
	Israel	 	193450	 	1859743	 	15/02/2007	 	 	 	 	 	 
	United States of America	 	12/223,965	 	1859750	 	15/02/2007	 	
        US-2009-0304768
	 	10/12/2009	 	 

 

    	 

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT
ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

	4.Patent	Intec Pharma Ltd. 

Carbidopa/Lipodopa Gastroretentive
Drug Delivery -(Client Case:IN-7-IL) -(060812)	 

 

	Country	 	App. No.	 	Our 

Ref.	 	Filed	 	Patent No./ 

Publication No.	 	Grant Date/ 

Pub. Date	 	Next Renewal
	Israel	 	208708	 	2051008	 	17/04/2009	 	 	 	 	 	 
	United States of America	 	12/937,955	 	2144590	 	17/04/2009	 	8,771,730	 	08/07/2014	 	08/01/2018
	Patent Cooperation Treaty	 	PCT/IB2009/005691	 	2153336	 	17/04/2009	 	WO2009/144558	 	 	 	 
	Canada	 	2,721,493	 	2153341	 	17/04/2009	 	 	 	 	 	17/04/2015
	China	 	200980120103.9	 	2153353	 	17/04/2009	 	CN102149369A	 	10/08/2011	 	 
	European Patent Office	 	09754186.6	 	2153363	 	17/04/2009	 	2276473	 	26/01/2011	 	30/04/2015
	India	 	7638/DELNP/2010	 	2153372	 	17/04/2009	 	 	 	 	 	 
	Japan	 	2011-504573	 	2153395	 	17/04/2009	 	 	 	 	 	 
	Japan	 	 	 	2330464	 	 	 	 	 	 	 	 
	Republic of Korea	 	10-2010-7025481	 	2153405	 	17/04/2009	 	 	 	 	 	 
	South Africa	 	2010/07797	 	2153411	 	17/04/2009	 	2010/07797	 	27/07/2011	 	17/04/2015
	Hong Kong	 	11113197.1	 	2153823	 	17/04/2009	 	1158545	 	20/07/2012	 	17/04/2018
	United States of  America	 	14/322,436	 	2286884	 	17/04/2009	 	
        US-2014-0314842
	 	23/10/2014	 	 

 

    	 

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT
ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

	4.Patent	Intec Pharma Ltd. 

Carbidopa/Lipodopa Gastroretentive
Drug Delivery -(Client Case:IN-7-IL) -(060812)	 

 

	Country	 	App. No.	 	Our 

Ref.	 	Filed	 	Patent No./ 

Publication No.	 	Grant Date/ 

Pub. Date	 	Next Renewal
	United States of America	 	14/322,460	 	2286894	 	17/04/2009	 	
        US-2015-0010624
	 	08/01/2015	 	 

 

	5.Patent	Intec Pharma Ltd. 

ZALEPLON GASTRORETENTIVE DRUG DELIVERY
SYSTEM -(Client Case:IN-8-IL) -(060811)	 

 

	Country	 	App. No.	 	Our 

Ref.	 	Filed	 	Patent No./ 

Publication No.	 	Grant Date/ 

Pub. Date	 	Next Renewal
	Israel	 	213376	 	2127779	 	19/10/2009	 	 	 	 	 	 
	
        Patent Cooperation Treaty
	 	PCT/IB2009/007731	 	2153230	 	19/10/2009	 	WO2010/064139	 	 	 	 
	China	 	200980153943.5	 	2153258	 	19/10/2009	 	CN102300463A	 	28/12/2011	 	19/10/2014
	European Patent Office	 	09830077.5	 	2153268	 	19/10/2009	 	2378883	 	26/10/2011	 	31/10/2014
	India	 	5067/DELNP/2011	 	2153278	 	19/10/2009	 	 	 	 	 	 
	South Africa	 	2011/04620	 	2153314	 	19/10/2009	 	2011/04620	 	28/03/2012	 	19/10/2015

 

    	 

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT
ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

	5.Patent	Intec Pharma Ltd. 

ZALEPLON GASTRORETENTIVE DRUG DELIVERY
SYSTEM -(Client Case:IN-8-IL) -(060811)	 

 

	Country	 	App. No.	 	Our 

Ref.	 	Filed	 	Patent No./ 

Publication No.	 	Grant Date/ 

Pub. Date	 	Next Renewal
	United States of America	 	13/132,899	 	2153326	 	19/10/2009	 	
        US-2012-0021051
	 	26/01/2012	 	 
	Japan	 	2014-231788	 	2320509	 	19/10/2009	 	 	 	 	 	 

 

	6.Patent	Intec Pharma Ltd. 

Accordion pill comprising levodopa
for an improved treatment of Parkinson’s Disease symptoms -(Client Case:IN-11-USP) -(060810)	 

 

	Country	 	App. No.	 	Our 

Ref.	 	Filed	 	Patent No./ 

Publication No.	 	Grant Date/ 

Pub. Date	 	Next Renewal
	United States of America	 	61/408,985	 	2153012	 	01/11/2010	 	 	 	 	 	 
	Patent Cooperation Treaty	 	PCT/IB2011/002888	 	2153034	 	01/11/2011	 	WO2012/059815	 	10/05/2012	 	 
	Canada	 	2,815,959	 	2222633	 	01/11/2011	 	 	 	 	 	01/11/2015
	European Patent Office	 	11805936.9	 	2222641	 	01/11/2011	 	2635272	 	11/09/2013	 	30/11/2015
	India	 	4158/DELNP/2013	 	2222652	 	01/11/2011	 	 	 	 	 	 
	Israel	 	226000	 	2222662	 	01/11/2011	 	 	 	 	 	 

 

    	 

    	 

    

 

NOTE: PORTIONS OF THIS
EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

	6.Patent	Intec Pharma Ltd. 

Accordion pill comprising levodopa
for an improved treatment of Parkinson’s Disease symptoms -(Client Case:IN-11-USP) -(060810)	 

 

	Country	 	App. No.	 	Our 

Ref.	 	Filed	 	Patent No./ 

Publication No.	 	Grant Date/ 

Pub. Date	 	Next Renewal
	United States of America	 	13/882,768	 	2222675	 	01/11/2011	 	
        US-2014-

        0017303
	 	16/01/2014	 	 

 

	7.Patent	Intec Pharma Ltd.

“[***]”	 

 

	Country	 	App. No.	 	Our 

Ref.	 	Filed	 	Patent No./ 

Publication No.	 	Grant Date/ 

Pub. Date	 	Next Renewal
	“[***]”	 	“[***]”	 	“[***]”	 	“[***]”	 	 	 	 	 	 

 

	8.Patent	Intec Pharma Ltd.

“[***]”

	 

 

	Country	 	App. No.	 	Our 

Ref.	 	Filed	 	Patent No./ 

Publication No.	 	Grant Date/ 

Pub. Date	 	Next Renewal
	“[***]”	 	“[***]”	 	“[***]”	 	“[***]”	 	 	 	 	 	 

  

	9.Patent	Intec Pharma Ltd.

“[***]”	 

 

	Country	 	App. No.	 	Our 

Ref.	 	Filed	 	Patent No./ 

Publication No.	 	Grant Date/ 

Pub. Date	 	Next Renewal
	“[***]”	 	“[***]”	 	“[***]”	 	“[***]”	 	 	 	 	 	 

 

    	 

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT
ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

	10.Patent	Intec Pharma Ltd. 

“[***]”	 

 

	Country	 	App. No.	 	Our 

Ref.	 	Filed	 	Patent No./ 

Publication No.	 	Grant Date/ 

Pub. Date	 	Next Renewal
	“[***]”	 	“[***]”	 	“[***]”	 	“[***]”Exhibit 10.18

 

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE
MARKED WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

RESEARCH,

 

OPTION

 

AND

 

LICENSE AGREEMENT

 

BETWEEN

 

INTEC PHARMA LTD.

 

AND

 

BIOGEN MA INC.

 

April 15, 2015

 

    	 

    	 

    

  

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

TABLE OF CONTENTS

 

	1.	DEFINITIONS	1
	 	 	 
	2.	RESEARCH	13
	 	 	 
	 	2.1	Research Period	13
	 	2.2	Rights Granted During Research Period	13
	 	2.3	Pre-Commercialization Activities During Research Period	14
	 	2.4	Option Exercise	16
	 	2.5	Right to Negotiate for Additional Indications	16
	 	2.6	Sublicenses	17
	 	 	 
	3.	COMMERCIAL PERIOD	17
	 	 	 
	 	3.1	Commercial Period	17
	 	3.2	Rights Granted During Commercial Period	17
	 	3.3	Pre-Commercialization Activities and Regulatory Activities During Commercial Period	17
	 	3.4	Commercialization Activities During the Commercial Period	22
	 	3.5	No Implied Obligations	22
	 	 	 
	4.	PAYMENTS	22
	 	 	 
	 	4.1	Upfront Fee	22
	 	4.2	License Fee	22
	 	4.3	Research Period Milestones	23
	 	4.4	Commercial Period Milestones	23
	 	4.5	Payment of Royalties; Royalty Rate; Accounting and Records	24
	 	 	 
	5.	CONFIDENTIALITY; PUBLICITY; PUBLICATION	27
	 	 	 
	 	5.1	Confidentiality	27
	 	5.2	Publicity	28
	 	5.3	Publications and Presentations	28
	 	5.4	Prior Approved Publication	29
	 	 	 
	6.	INTELLECTUAL PROPERTY RIGHTS	29
	 	 	 
	 	6.1	Intec Pharma Ownership	29
	 	6.2	Biogen Ownership	29
	 	6.3	Joint Technology	30
	 	6.4	Agreement“[***]” Technology	30
	 	6.5	Patent Coordinators	31
	 	6.6	No Other Rights	31

 

    	i

    	 

    

  

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

	7.	FILING, PROSECUTION AND MAINTENANCE OF PATENT RIGHTS	31
	 	 	 
	 	7.1	Patent Filing, Prosecution and Maintenance	31
	 	7.2	Legal Actions	33
	 	 	 
	8.	TERM AND TERMINATION; ADDITIONAL OBLIGATIONS	35
	 	 	 
	 	8.1	Term	35
	 	8.2	Termination	35
	 	8.3	Consequences of Termination	38
	 	8.4	Surviving Provisions	39
	 	 	 
	9.	REPRESENTATIONS AND WARRANTIES; COVENANTS	40
	 	 	 
	 	9.1	Mutual Representations and Warranties	40
	 	9.2	Additional Representations, Warranties and Covenants of Intec Pharma	40
	 	9.3	Limitation on Representations and Warranties of Intec Pharma	43
	 	9.4	Exclusivity	43
	 	 	 
	10.	INDEMNIFICATION AND INSURANCE	44
	 	 	 
	 	10.1	Indemnification by Biogen 	44
	 	10.2	Indemnification by Intec Pharma	44
	 	10.3	Conditions to Indemnification	44
	 	10.4	Warranty Disclaimer	45
	 	10.5	Limited Liability	45
	 	10.6	Insurance	46
	 	 	 
	11.	MISCELLANEOUS	46
	 	 	 
	 	11.1	Notices	46
	 	11.2	Governing Law; Jurisdiction; Dispute Resolution	47
	 	11.3	Binding Effect; Non-Exclusive Remedies	48
	 	11.4	Headings	48
	 	11.5	Counterparts	48
	 	11.6	Amendment; Waiver	48
	 	11.7	No Third Party Beneficiaries	49
	 	11.8	Purposes and Scope	49
	 	11.9	Assignment and Successors	49
	 	11.10	Force Majeure	49
	 	11.11	Interpretation	49
	 	11.12	Integration; Severability	50
	 	11.13	Further Assurances	50

 

    	ii

    	 

    

  

NOTE: PORTIONS OF THIS EXHIBIT ARE THE
SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

List of Exhibits and Schedules

 

	Exhibit A	Research Plan
	 	 
	Exhibit B	Intec Pharma Patent Rights

 

    	iii

    	 

    

  

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

RESEARCH, OPTION AND LICENSE AGREEMENT

 

This RESEARCH, OPTION AND LICENSE AGREEMENT
(this “Agreement”) is entered into as of April 15, 2015 (the “Effective Date”) by and between
INTEC PHARMA LTD., with offices located at 12 Hartom St., P.O.B 45219, Jerusalem 91450 (“Intec Pharma”) and
BIOGEN MA INC. with offices located at 14 Cambeidge Center, Camberidge, Massachusetts, 02142 USA (“Biogen”). Each of Intec Pharma and Biogen is sometimes referred to individually herein as a “Party” and
collectively as the “Parties.”

 

WHEREAS, Intec Pharma
has developed or Controls certain technology and proprietary materials for the administration of pharmaceutical products through
the Accordion Pill System (defined below);

 

WHEREAS, Biogen
is engaged in the research, development and commercialization of human therapeutics and diagnostics, and is currently commercializing
a human therapeutic product containing “[***]” under the brand name “[***]”;

 

WHEREAS, Biogen
desires to engage Intec Pharma to use its formulation technology, including the Accordion Pill System, to develop a new gastro-retentive,
delayed or extended release formulation of “[***]” with a once daily dosing schedule “[***]”; and

 

WHEREAS, Intec Pharma
desires to grant to Biogen an option to obtain an exclusive, worldwide license to conduct Pre-Commercialization Activities for,
Manufacture and Commercialize Collaboration Products that incorporates Intec Pharma’s technology and proprietary materials
for delayed or extended release administration of pharmaceutical products for diagnosis, treatment and prevention of “[***]”,
with an option to negotiate the expansion of the Field for additional indications, and Biogen desires to evaluate and perform
initial development work with respect to such products prior to determining whether it will exercise such option;

 

NOW, THEREFORE, in
consideration of the mutual covenants contained herein, and for other good and valuable consideration, the Parties hereto, intending
to be legally bound, hereby agree as follows:

 

1.         DEFINITIONS

 

1.1         “Abbreviated
New Drug Application” or “ANDA” means an Abbreviated New Drug Application filed with the FDA pursuant
to § 505(j) of the Federal Food, Drug and Cosmetic Act (21 U.S.C. § 355(j)).

 

1.2         “Accordion
Pill System” means Intec Pharma’s gastro-retentive, delayed or extended-release drug delivery system, as it exists
as of the Effective Date and throughout the Term, including (a) such drug delivery system’s components, parameters, features
and characteristics, concepts and mechanisms, (b) “[***]” and (c) release mechanisms and manufacturing processes
of such drug delivery system.

 

    	1

    	 

    

  

NOTE: PORTIONS OF THIS EXHIBIT ARE THE
SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

1.3         “Affiliate”
means, with respect to any Person, any other Person that, directly or indirectly, controls, or is controlled by, or is under common
control with, such Person. For purposes of this definition, “control” means (a) ownership of more than fifty percent
(50%) of the shares of stock entitled to vote for the election of directors in the case of a corporation, or more than fifty percent
(50%) of the equity interests in the case of any other type of legal entity; (b) status as a general partner in any partnership;
or (c) any other arrangement whereby a Person controls or has the right to control the board of directors of a corporation or
equivalent governing body of an entity other than a corporation.

 

1.4         “Agreement
“[***]” Know-How” means any Know-How to the extent that it relates to a Product, including without
limitation any formulation of a Product, and that is developed, conceived or, in the case of patentable Know-How, Invented in
the course of activities conducted by a Party or both Parties or any of its or their Affiliates (or any Third Party acting on
any of their behalf) pursuant to this Agreement (including the Research Plan). For clarity, any Know-How that meets the definition
of General Accordion Pill Know-How shall not constitute Agreement “[***]” Know-How.

 

1.5         “Agreement
“[***]”Patent Rights” means any Patent Rights that claim any Agreement “[***]” Know-How.

 

1.6         “Agreement
“[***]” Technology” means, collectively, Agreement “[***]” Know-How and Agreement
“[***]” Patent Rights.

 

1.7         “Annual
Net Sales” means, with respect to any Calendar Year, the aggregate amount of the Net Sales for such Calendar Year.

 

1.8         “Applicable
Laws” means any federal, state, local, national and supra-national laws, statutes, rules and regulations, including any
rules, regulations or requirements of Regulatory Authorities, national securities exchanges or securities listing organizations,
that are in effect from time to time during the Term and applicable to a particular activity hereunder.

 

1.9         Biogen
Know-How” means any Know-How that is Controlled by Biogen on the Effective Date or during the Term and that relates
to any Product, but excluding (i) Biogen’s interest in any Joint Know-How and (ii) any Agreement “[***]”
Know-How.

 

1.10         Biogen
Patent Rights” means any Patent Rights that are Controlled by Biogen on the Effective Date or during the Term and that
relate to any Product, but excluding (i) Biogen’s interest in any Joint Patent Rights and (ii) any Agreement “[***]”
Patent Rights.

 

1.11         Biogen
Technology” means, collectively, the Biogen Know-How and Biogen Patent Rights.

 

1.12         “Business
Day” means a day on which banking institutions in both Boston, Massachusetts and Tel Aviv, Israel are open for business.

 

    	2

    	 

    

  

NOTE: PORTIONS OF THIS EXHIBIT ARE THE
SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

1.13         “Calendar
Quarter” means the period beginning on the Effective Date and ending on the last day of the calendar quarter in which
the Effective Date falls, and thereafter each successive period of three (3) consecutive calendar months ending on March 31, June
30, September 30 or December 31.

 

1.14         “Calendar
Year” means each successive period of twelve (12) months commencing on January 1 and ending on December 31.

 

1.15         “Clinical
Trial” means a clinical study of a Product prior to receipt of Regulatory Approval that involves the administration of
such Product to humans.

 

1.16         “Collaboration
Product” means any Product in a gastro-retentive, delayed or extended release formulation that is Covered by, or that
incorporates or makes use of, any Intec Pharma Technology.

 

1.17         “Commercialization”
or “Commercialize” means any and all activities directed to the offering for sale and sale of a Product, both
before and after Regulatory Approval has been obtained, including activities related to marketing, promoting, distributing, importing,
selling and offering to sell such Product or conducting post-marketing human clinical studies for any indication with respect to
which Regulatory Approval has been received or for a use that is the subject of an investigator-initiated study program, and interacting
with Regulatory Authorities regarding the foregoing. When used as a verb, “Commercializing” means to engage in Commercialization
and “Commercialized” has a corresponding meaning.

 

1.18         “Confidential
Information” means, (a) all information that is confidential or proprietary to the disclosing Party (whether or not reduced
to writing or other tangible medium of expression, and whether or not patented, patentable, capable of trade secret protection
or protected as an unpublished or published work under the United States Copyright Act of 1976, as amended), including all Know-How,
unpublished patent applications (including any unpublished applications for continuation, extension, re-issue or renewal patents),
inventor certificates, trade secrets, methods of production and other proprietary or confidential information of the disclosing
Party; and (b) any Third Party confidential or proprietary information in the possession of the disclosing Party that is provided
to the receiving Party. Confidential Information may be disclosed in written, oral, electronic or any other form. Confidential
Information which is orally disclosed to or visually observed by the receiving party shall constitute Confidential Information
if (x) it would be apparent to a reasonable person, familiar with the disclosing party’s business and the industry in which
it operates, that such information is of a confidential or proprietary nature the maintenance of which is important to the disclosing
party, or (y) the disclosing party, within thirty (30) days after such disclosure, delivers to the receiving party a written document
or documents describing such information and referencing the place and date of such oral or visual disclosure. The terms of this
Agreement (including any term sheet or prior drafts related hereto) will be treated as Confidential Information of both Parties,
with both Parties deemed to be the receiving Party of such Confidential Information. Notwithstanding anything to the contrary,
“Confidential Information” shall not include any information that (i) is or becomes generally available to the public
other than through any disclosure by the receiving Party in violation of Section 5.1 (Confidentiality), (ii) can be demonstrated
by documentation or other competent proof to have been in the receiving Party’s possession prior to disclosure by the disclosing
Party without any obligation of confidentiality with respect to such information, (iii) becomes available to the receiving Party
on a non-confidential basis from a source not known by the receiving Party to be under any obligation of confidentiality to the
disclosing Party with respect to such information or (iv) can be demonstrated by documentation or other competent proof to have
been independently developed by the receiving Party without reliance on or reference to the Confidential Information of the disclosing
Party.

  

    	3

    	 

    

  

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

1.19         “Control”
or “Controlled” means, with respect to Know-How and Patent Rights, the possession by a Party of the right (other
than the licenses granted pursuant to this Agreement which, as between the Parties, shall be subject to the provisions of Sections
2.2.3 (Retained Rights) and 3.2.3 (Retained Rights), as applicable) to grant a license or sublicense to such Know-How or Patent
Rights as provided herein without violating the terms of any agreement with any Third Party and without violating any Applicable
Laws; provided, however, that with respect to any Know-How or Patent Rights that are owned by a Third Party and
Controlled under the terms of a license or other agreement, a Party will be deemed to Control such Know-How or Patent Rights only
to the extent that the applicable agreement permits such Control.

 

1.20         “Cover,”
“Covering” or “Covers” means, as to a product and Patent Rights, that, in the absence of
a license granted under, or ownership of, such Patent Rights, the making, using, selling, offering for sale or importation of such
product would infringe such Patent Rights or, as to a pending claim included in such Patent Rights, the making, using, selling,
offering for sale or importation of such product would infringe such Patent Rights if such pending claim were to issue in an issued
patent without modification.

 

1.21         “Drug
Approval Application” means, with respect to each Product in a particular regulatory jurisdiction, an application for
Regulatory Approval for such Product in such country or region, including: (a) an NDA; (b) a counterpart of an NDA in any country
or region in the Territory; and (c) all supplements and amendments to any of the foregoing.

 

1.22         “EMA”
means the European Medicines Agency or any successor agency or authority thereto.

 

1.23         “European
Commission” means the European Commission or any successor agency that is responsible for granting marketing approvals
authorizing the sale of pharmaceuticals in the EU.

 

1.24         “European
Union” or “EU” means the organization of member states of the European Union, as it may be constituted
from time to time during the Term.

 

1.25         “Exclusivity
Field” means the diagnosis, treatment or prevention in humans of any disease or medical indication.

 

    	4

    	 

    

  

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

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

 

1.27         “FDCA”
means the United States Federal Food, Drug, and Cosmetic Act, as amended.

 

1.28         “Field”
means the diagnosis, treatment or prevention of “[***]”, and any additional indications added to the Field
pursuant to Section 2.5 (Right to Negotiate for Additional Indications), in any form, and any and all signs and symptoms thereof.

 

1.29         “First
Commercial Sale” means, with respect to a Collaboration Product in a country in the Territory, the first sale, transfer
or disposition for value to an end user of such Collaboration Product in such country following receipt of Regulatory Approval
in such country; provided, however, that any sale to an Affiliate or sublicensee will not constitute a First Commercial
Sale unless the Affiliate or sublicensee is the last entity in the distribution chain of the Collaboration Product and; provided, further,
that any sale on a cost reimbursement basis for use in a Clinical Trial or other distribution for use in a Clinical Trial will
not constitute a First Commercial Sale.

 

1.30         “First
Commercial Sale In Europe” means, with respect to a Collaboration Product, the completion of the First Commercial Sale
of such Collaboration Product in the third (3rd) Major European Market.

 

1.31         “Force
Majeure” means any occurrence that (a) prevents or substantially interferes with the performance by a Party of any of
its obligations hereunder; and (b) occurs by reason of any act of God, flood, fire, explosion, earthquake, strike, lockout, labor
dispute, casualty or accident, war, revolution, civil commotion, act of terrorism, blockage or embargo, or any injunction, law,
order, proclamation, regulation, ordinance, demand or requirement of any government or of any subdivision, authority or representative
of any such government, or other cause that is beyond the reasonable control of such Party.

 

1.32         “GCP”
means the then-current Good Clinical Practice Standards promulgated or endorsed by the FDA or, in the case of foreign jurisdictions,
comparable regulatory standards promulgated or endorsed by the applicable Regulatory Authority, including those procedures expressed
in or contemplated by any Regulatory Filings, applicable to the design, conduct, performance, monitoring, auditing, recording,
analysis and reporting of Clinical Trials including the United States regulations set forth under Title 21 of the United States
Code of Federal Regulations, parts 11, 50, 54, 56, 312 and 314, as may be amended from time to time.

 

1.33         “General
Accordion Pill Know-How” means Know-How that relates to the Accordion Pill System as generally applied to products and
compounds other than Products, and that is developed, conceived or, in the case of patentable Know-How, Invented in the course
of activities conducted, by a Party or both Parties or any of its or their Affiliates (or any Third Party acting on any of their
behalf) pursuant to this Agreement (including the Research Plan).

 

1.34         “General
Accordion Pill Patent Rights” means any Patent Rights that claim any General Accordion Pill Know-How.

 

    	5

    	 

    

  

NOTE: PORTIONS OF THIS EXHIBIT ARE THE
SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

1.35         “General
Accordion Pill Technology” means, collectively, General Accordion Pill Know-How and General Accordion Pill Patent Rights.

 

1.36         “GLP”
means the then-current Good Laboratory Practice Standards promulgated or endorsed by the FDA or, in the case of foreign jurisdictions,
comparable regulatory standards promulgated or endorsed by the applicable Regulatory Authority, including those procedures expressed
in or contemplated by any Regulatory Filings.

 

1.37         “GMP”
means then-current Good Manufacturing Practices that apply to the manufacture of active pharmaceutical ingredients and/or pharmaceutical
products, including the United States regulations set forth under Title 21 of the United States Code of Federal Regulations, parts
210, 211 and 600-680, as may be amended from time to time, as well as all applicable guidance published by the FDA from time to
time.

 

1.38         “IND”
means (a) an Investigational New Drug Application as defined in the FDCA and regulations promulgated thereunder, or any successor
application or procedure required to initiate clinical testing of a Product in humans in the United States; or (b) any comparable
filing that is required to initiate clinical testing of a Product in humans in any other regulatory jurisdiction in the Territory,
in each case, including all supplements and amendments thereto.

 

1.39         “Intec
Pharma Know-How” means any proprietary Know-How relating to the Accordion Pill System that is Controlled by Intec Pharma
on the Effective Date or during the Term, including General Accordion Pill Know-How but excluding (a) Intec Pharma’s interest
in any Joint Know-How and (b) any Agreement “[***]” Know-How.

 

1.40         “Intec
Pharma Patent Rights” means any Patent Rights relating to the Accordion Pill System that are Controlled by Intec Pharma
on the Effective Date or during the Term, including the Patent Rights set forth in Exhibit B and General Accordion Pill
Patent Rights, but excluding (a) Intec Pharma’s interest in any Joint Patent Rights and (b) any Agreement “[***]”
Patent Rights.

 

1.41         “Intec
Pharma Technology” means, collectively, the Intec Pharma Know-How and Intec Pharma Patent Rights.

 

1.42         “Invented”
means the act of invention by inventors, as determined in accordance with the patent laws of the United States, irrespective of
where the act of invention occurs.

 

1.43         “Joint
Know-How” means any Know-How that is developed, conceived or, in the case of patentable Know-How, Invented jointly by
Intec Pharma or any of its Affiliates (or a Third Party acting on any of their behalf) and Biogen or any of its Affiliates (or
a Third Party acting on any of their behalf) in the course of activities conducted pursuant to this Agreement (including the Research
Plan), but excluding the following: (i) any Agreement “[***]” Know-How; and (ii) any General Accordion Pill
Know-How.

 

1.44         “Joint
Patent Rights” means any Patent Rights that claim any Joint Know-How.

 

    	6

    	 

    

  

NOTE: PORTIONS OF THIS EXHIBIT ARE THE
SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

1.45         “Joint
Technology” means, collectively, Joint Know-How and Joint Patent Rights.

 

1.46         “Know-How”
means all inventions, discoveries, data, information (including scientific, technical or regulatory information), processes, methods,
techniques, materials, technology, prototypes, results, analyses, laboratory, pre-clinical and clinical data, or other know-how,
whether or not patentable, including pharmacology, toxicology, drug stability, manufacturing and formulation methodologies and
techniques, clinical and non-clinical safety and efficacy studies, marketing studies, absorption, distribution, metabolism and
excretion studies.

 

1.47         “LIBOR
Rate” means, for any applicable interest period, the rate per annum equal to the one-month average of the British Bankers
Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or, if Reuters does not publish quotations of
BBA LIBOR, another commercially available source providing quotations of BBA LIBOR as selected by agreement of the Parties). If
such rate is not available at such time for any reason, then the rate for that interest period will be determined by such alternate
method as reasonably selected by agreement of the Parties.

 

1.48         “MAA”
means a Marketing Authorization Application submitted to the EMA pursuant to the centralized approval procedure to obtain European
Commission approval for the marketing of a pharmaceutical product in the European Union.

 

1.49         “Major
European Markets” means France, Germany, Italy, Spain and the United Kingdom.

 

1.50         “Manufacture”
means all operations involved in the manufacture, receipt, incoming inspections, storage and handling of materials, manufacture,
processing, purification, formulation, packaging, labeling, warehousing, quality control testing (including in-process release
and stability testing), shipping and release of a Product for clinical and commercial supply. When used as a verb, “Manufacturing”
means to engage in Manufacture and “Manufactured” has a corresponding meaning.

 

1.51         “[***]”.

 

1.52         “[***]”.

 

1.53         “Net
Sales” means, with respect to a Collaboration Product in a country in the Territory, (1) the gross amount invoiced for
sales of such Collaboration Product in such country by Biogen or any of its Affiliates or Sublicensees to Third Parties (“Gross
Sales”), and (2) the total amount received (whether characterized as royalty, profit share or otherwise) by Biogen
or any of its Affiliates from a Third Party distributor with respect to sales of such Collaboration Product in such country
by such distributor pursuant to distributor agreements under which such distributor pays to Biogen a share of its sales of Collaboration
Product, less the following deductions, in each case (A) without duplication, (B) where applicable with respect to the Gross Sales
invoiced, (C) as incurred in the ordinary course of business in type and amount consistent with good industry practice and (D)
except with respect to the uncollectible amounts on any previously sold Collaboration Product described in clause (b) below and
the pharmaceutical excise taxes described in clause (d) below, as determined in accordance with, and as recorded in revenues under,
United States Generally Accepted Accounting Principles (“U.S. GAAP”):

 

    	7

    	 

    

  

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

  

(a)         sales
returns and allowances actually paid, granted or accrued on the Collaboration Product, including trade, quantity, prompt pay and
cash discounts and any other adjustments, including those granted on account of price adjustments or billing errors;

 

(b)         credits
or allowances given or made for rejection or return of, and for uncollectible amounts on, a previously sold Collaboration Product
or for rebates or retroactive price reductions (including Medicare, Medicaid, managed care and similar types of rebates and chargebacks),
provided that any amount subsequently recovered will be treated as Net Sales;

 

(c)         to
the extent not already deducted or excluded from the Gross Sales invoiced, taxes, duties or other governmental charges levied on
or measured by the billing amount for the Collaboration Product, as adjusted for rebates and refunds, which, for the avoidance
of doubt, shall not include any tax, duty, or other charge imposed on or measured by net income (however denominated), or any franchise
taxes, branch profits taxes, or similar tax;

 

(d)         pharmaceutical
excise taxes (such as those imposed by the United States Patient Protection and Affordable Care Act of 2010 (Pub. L. No. 111-48)
and other comparable laws);

 

(e)         charges
for freight and insurance directly related to the distribution of the Collaboration Product, to the extent not already deducted
or excluded from the Gross Sales invoiced, for sales of the Collaboration Product by Biogen or its Affiliates or permitted Sublicensees
to Third Parties in the Territory to the extent same are separately itemized on invoices and actually paid as evidenced by invoices
or other appropriate supporting documentation;

 

(f)         credits
for allowances given or made for wastage replacement for the Collaboration Product;

 

(g)         customary
wholesaler and distributor administration fees; and

 

(h)         other
similar or customary deductions taken in the ordinary course of business or in accordance with U.S. GAAP.

 

Net Sales shall be
determined in accordance with U.S. GAAP, except to the extent noted above in clause (D) of the first paragraph of this Section
1.53. Net Sales shall not be imputed to transfers of Collaboration Product for use in any clinical trial, for bona fide charitable
purposes, for compassionate use, for indigent patient programs or as free Collaboration Product samples, so long as such transfers
of Collaboration Product for charitable purposes, compassionate use, indigent patient programs or as samples are consistent with
Biogen’s practices with respect to products similar in nature to Collaboration Products.

 

    	8

    	 

    

  

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

Notwithstanding the
foregoing, in the event a Collaboration Product is sold as a component of a Combination Product in any country in the Territory
in any Calendar Quarter, Net Sales shall be calculated by multiplying the Net Sales of the Combination Product in such country
during such Calendar Quarter (calculated by applying the formula set forth above as if it applied to sales of such Combination
Product in such country) by the fraction A/(A+B), where A is the average Net Sales per unit sold of the Collaboration Product
when sold separately in such country during such Calendar Quarter (calculated by determining the Net Sales of the Collaboration
Product in such country during such Calendar Quarter in accordance with the formula set forth above and dividing such Net Sales
by the number of units of the Collaboration Product sold in such country during such Calendar Quarter) and B is the average Net
Sales per unit sold of the other active component(s) included in the Combination Product when sold separately in such country
during such Calendar Quarter (calculated by determining the Net Sales of such other active component(s) in such country during
such Calendar Quarter by applying the formula set forth above as if it applied to sales of such other active component(s) and
dividing such Net Sales by the number of units of such other active component(s) sold in such country during such Calendar Quarter).
For purposes of calculating the average Net Sales per unit sold of a Collaboration Product and other active component(s) of a
Combination Product in accordance with the above described equation, any of the deductions described in clauses (a) through (h)
above that apply to such Combination Product shall be allocated among sales of the Collaboration Product and sales of the other
active component(s) included in such Combination Product as follows: (1) deductions that are attributable solely to the Collaboration
Product or one of the other active component(s) shall be allocated solely to Net Sales of the Collaboration Product or such other
active component, as applicable, and (2) all other deductions shall be allocated among sales of the Collaboration Product and
sales of the other active component(s) in proportion to Biogen’s reasonable good faith estimate of the fair market value
of the Collaboration Product and the other active component(s). In the event that no separate sales of either (a) the Collaboration
Product or (b) any other active component(s) included in a Combination Product, or both ((a) and (b)), are made by Biogen or
its Affiliates, distributors or Third Party transferees during a Calendar Quarter in which such Combination Product is sold in
a country, the average Net Sales per unit sold in the above described equation shall be replaced with the most recent list price
of the Collaboration Product and each of the other active component(s) of the Combination Product in such country, if applicable,
or, if either such Collaboration Product or such other active component(s), or both, have never been sold separately in such country,
with Biogen’s reasonable good faith estimate of the fair market value of the Collaboration Product and each of the other
active component(s) included in such Combination Product. For purposes of this Section 1.53, “Combination Product”
shall mean (x) any single product in finished form containing as active ingredients both (A) a Collaboration Product and (B) one
or more other pharmaceutically active compounds or substances that are not used to implement any Intec Pharma Technology or Agreement
“[***]” Technology (for example, components of the Accordion Pill System are not considered other pharmaceutically
active compounds or substances); (y) any sale of a Collaboration Product with another product(s) for a single invoice price; or
(z) any sale of a Collaboration Product as part of a bundle with other product(s) or service(s) (i.e., where a Collaboration Product
and such other product(s) or services are sold for a single invoice price or where a discount, rebate or other amount that reduces
the price of a Collaboration Product is provided in exchange for (or otherwise conditioned upon) the purchase of such other product(s)
or services), to the extent not described in clause (x) or (y).

 

    	9

    	 

    

  

NOTE: PORTIONS OF THIS EXHIBIT ARE THE
SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

1.54         “New
Drug Application” or “NDA” means a New Drug Application filed with the FDA, as described in 21 C.F.R.
§ 314.

 

1.55         “Patent
Rights” means any and all (a) patents; (b) pending patent applications, including all provisional applications, substitutions,
continuations, continuations-in-part, divisions and renewals, and all patents granted thereon; (c) all patents-of-addition, reissues,
reexaminations and extensions or restorations by existing or future extension or restoration mechanisms, including supplementary
protection certificates or the equivalent thereof; (d) inventor’s certificates; (e) any other form of government-issued right
substantially similar to any of the foregoing; and (f) all United States and foreign counterparts of any of the foregoing.

 

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

 

1.57         “Phase
1 Clinical Trial” means, as to a particular Product, a Clinical Trial conducted in any country that would satisfy the
requirements of 21 CFR 312.21(a) or a counterpart of such regulation in any regulatory jurisdiction in the Territory.

 

1.58         “Pre-Commercialization
Activities” means, with respect to each Product, all preclinical and clinical activities designed to obtain Regulatory
Approval of such Product, its Manufacture and its Commercialization, up to and including the obtaining of Regulatory Approval of
such Product, including regulatory toxicology studies, statistical analysis and report writing, Clinical Trial design and operations,
preparing and filing Drug Approval Applications, and all regulatory affairs related to the foregoing.

 

1.59         “Product”
means any product that contains “[***]”,“[***]” or “[***]” or any prodrug, anannlog,
salt or derivative of “[***]”,“[***]” or “[***]”. .

 

1.60         “Regulatory
Approval” means, with respect to any regulatory jurisdiction in the Territory, any approval (including pricing and reimbursement
approval and schedule classifications), product and establishment license, registration or authorization of any Regulatory Authority
required to market and/or sell a Product in such regulatory jurisdiction, including (a) approval of an NDA or ANDA for such Product
by the FDA, and (b) approval of an MAA for such Product by the EMA.

 

1.61         “Regulatory
Authority” means any national, supra-national, regional, state or local regulatory agency, department, bureau, commission,
council or other governmental entity with authority over the distribution, importation, exportation, Manufacture, production, use,
storage, transport, clinical testing or sale of a Product.

 

    	10

    	 

    

  

NOTE: PORTIONS OF THIS EXHIBIT ARE THE
SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

1.62         “Regulatory
Exclusivity Period” means, with respect to a Collaboration Product in any country in the Territory, a period of exclusivity
(other than exclusivity with respect to a Patent Right) granted or afforded by Applicable Laws or by a Regulatory Authority in
such country that confers exclusive marketing rights with respect to such Collaboration Product in such country. Where such exclusive
marketing rights only relate to a specific indication, the applicable Regulatory Exclusivity Period shall only be deemed to apply
to such Collaboration Product in such indication.

 

1.63         “Regulatory
Filings” means, collectively: (a) all INDs, NDAs, applications for designation as an “Orphan Product(s)”
under the Orphan Drug Act, for “Fast Track” status under Section 506 of the FDCA (21 U.S.C. § 356) or for a Special
Protocol Assessment under Section 505(b)(4)(B) and (C) of the FDCA (21 U.S.C. § 355(b)(4)(B)) and all other similar filings
(including counterparts of any of the foregoing in any regulatory jurisdiction in the Territory); (b) all supplements and amendments
to any of the foregoing; and (c) all data and other information contained in, and correspondence relating to, any of the foregoing.

 

1.64         “Research
Plan” means the written plan for the formulation and pre-clinical and clinical Pre-Commercialization Activities for
Collaboration Products during the Research Period, which plan is attached hereto as Exhibit A, as such written plan may
be amended, modified or updated in accordance with Section 2.3.1 (Research Plan).

 

1.65         “Royalty
Term” means, with respect to each Collaboration Product in each country in the Territory, the period beginning on the
date of First Commercial Sale of such Collaboration Product in such country and ending on the later of (a) expiration of the last
to expire Valid Claim of (i) the Intec Pharma Patent Rights that Cover such Collaboration Product in such country or (ii) any Agreement
“[***]” Patent Rights or Joint Patent Rights that Cover such Collaboration Product in such country (but solely to the
extent that such Agreement “[***]” Patent Rights claim any Know-How or other intellectual property developed, conceived
or, in the case of patentable Know-How, Invented by Intec Pharma or its Affiliates), and (b) the expiration of the Regulatory Exclusivity
Period with respect to such Collaboration Product in such country.

 

1.66         “Sublicensee”
means any Third Party to whom Biogen sublicenses any of its rights under this Agreement, but excluding any Third Party distributor.
For clarity, “Sublicensee” shall not include any Affiliate of Biogen to whom Biogen sublicenses any of its
rights under this Agreement.

 

1.67         “sNDA”
means a Supplemental New Drug Application, as defined in the FDCA and applicable regulations promulgated thereunder.

 

1.68         “Territory”
means worldwide.

 

1.69         “Third
Party” means a Person other than Intec Pharma and Biogen and their respective Affiliates.

 

    	11

    	 

    

  

NOTE: PORTIONS OF THIS EXHIBIT ARE THE
SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

1.70         “Valid
Claim” means (a) a claim of an issued and unexpired Patent Right, which claim has not been permanently revoked or held
unenforceable, unpatentable or invalid by a decision of a court or other governmental agency of competent jurisdiction, which is
not appealable or has not been appealed within the time allowed for appeal, and which has not been abandoned, disclaimed, denied
or admitted to be invalid or unenforceable through reissue, re-examination or disclaimer or otherwise (i.e., only to the
extent the subject matter is disclaimed or is sought to be deleted or amended through reissue); or (b) a bona fide claim of a pending
patent application included in the Patent Rights that has not been (i) cancelled, withdrawn or abandoned without being refiled
in another application in the applicable jurisdiction or (ii) finally rejected by an administrative agency action from which no
appeal can be taken or that has not been appealed within the time allowed for appeal, provided that any patent application
pending for more than five (5) years from the earliest date on which such patent application claims priority (excluding any time
during which such application is in interference or opposition or similar proceedings, or the decision of an examiner with respect
to such application is being appealed) shall not be considered to have any Valid Claim for purposes of this Agreement from and
after such five (5) year date unless and until a patent issues from such patent application.

 

1.71         Additional
Definitions. Each of the following definitions is found in the body of this Agreement as indicated below:

 

	 	Section
	Agreement	Preamble
	Annual Royalty Cap	4.5.1(b)
	BBA LIBOR	1.47
	Biogen	Preamble
	Biogen Indemnitees	10.2
	Claim	10.1
	Clinical Collaboration Product Supply	3.3.5
	Combination Product	1.53
	Commercial Period	3.1
	Commercial Period Milestone Event	4.4.1
	Commercial Period Milestone Payment	4.4.1
	Commercial Supply Agreement	3.3.6(b)
	“[***]”	Preamble
	Effective Date	Preamble
	Failure of PART B Deliverables	2.3.2(b)
	Field Expansion	2.5
	FCPA	9.2.15
	Gross Sales	1.53
	Indemnified Party	10.3
	Indemnifying Party	10.3
	Infringement	7.2.1
	Infringement Notice	7.2.1
	Insolvency Event	8.2.4

 

    	12

    	 

    

  

NOTE: PORTIONS
OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION
(“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]”
IN PLACE OF THE REDACTED LANGUAGE.

 

	Intec Pharma	Preamble
	Intec Pharma Indemnitees	10.1
	Intec Pharma-Owned Technology	9.2.12
	License Fee	4.2
	Losses	10.1
	Manufacturing Know-How	3.3.7
	Option	2.4.2
	Option Exercise Date	2.4.2
	Option Exercise Notice	2.4.2
	Option Exercise Period	2.4.1
	PART A Deliverables	2.3.2(a)
	PART B Deliverables	2.3.2(b)
	PART B Election Notice	2.3.2(a)
	Party/Parties	Preamble
	Patent Coordinator	6.5
	Phase 1 Clinical Trial Materials	2.3.2(b)
	Phase 1 Materials Acceptance Date	2.3.2(b)
	Pre-Commercialization Collaboration Notice	3.3.2
	Pre-Commercialization Plan	3.3.2
	Research Period	2.1
	Research Period Milestone Event	4.3.1
	Research Period Milestone Payment	4.3.1
	Sunshine Act	9.2.15
	Technology Transfer	3.3.7
	Term	8.1
	U.S. GAAP	1.53
	UK Bribery Act	9.2.15

 

2.      
RESEARCH 

 

2.1         Research
Period. For purposes of this Agreement, “Research Period” means the period beginning on the Effective Date
and ending on the earlier of: (a) the termination of this Agreement in accordance with Section 2.3.2(a) (Performance of the Research),
Section 2.3.2(b) (Performance of the Research) or Article 8 (Term and Termination; Additional Obligations); or (b) the Phase 1
Materials Acceptance Date.

 

2.2         Rights
Granted During Research Period.

 

2.2.1         License
to Biogen. Subject to the terms and conditions of this Agreement, Intec Pharma hereby grants to Biogen an exclusive, fully
paid, worldwide license during the Option Exercise Period, with the right to grant sublicenses through multiple tiers, under the
Intec Pharma Technology and Intec Pharma’s interest in the Joint Technology for the sole purposes of conducting a Phase
1 Clinical Trial, evaluating whether or not to exercise the Option and performing activities in furtherance of the foregoing.

 

    	13

    	 

    

  

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

2.2.2         License
to Intec Pharma. Subject to the terms and conditions of this Agreement, Biogen hereby grants to Intec Pharma a non-exclusive,
royalty-free, fully paid, worldwide license during the Research Period, with the right to grant sublicenses through multiple tiers
(subject to Biogen’s prior written consent), under the Biogen Technology, the Agreement “[***]” Technology
and Biogen’s interest in the Joint Technology for the sole purpose of conducting the activities set forth in the Research
Plan.

 

2.2.3         Retained
Rights. No rights, other than those expressly set forth in this Section 2.2, are granted to either Party during the Research
Period hereunder, and no additional rights shall be deemed granted to either Party during the Research Period by implication, estoppel
or otherwise. All rights not expressly granted by either Party to the other hereunder are reserved.

 

2.3         Pre-Commercialization
Activities During Research Period.

 

2.3.1         Research
Plan. During the Research Period, Intec Pharma shall use commercially reasonable efforts to perform the activities set forth
in the Research Plan in accordance with the terms and conditions set forth in this Agreement and Applicable Law. Biogen and Intec
Pharma may agree in writing to amend the Research Plan at any time during the Research Period to amend, add or remove research
activities relating to the Collaboration Products.

 

2.3.2         Performance
of the Research.

 

(a)         Promptly
following the Effective Date, Intec Pharma shall perform the activities set forth in PART A of the Research Plan, which
include activities related to initial bench-scale research and development of Collaboration Products. Promptly following completion
of the activities set forth in PART A of the Research Plan, Intec Pharma shall deliver to Biogen the deliverables specified
in PART A of the Research Plan (the “PART A Deliverables”), which PART A Deliverables shall comply with the
requirements and specifications set forth in the Research Plan. Within ninety (90) days after receipt of the PART A Deliverables,
Biogen shall notify Intec Pharma in writing if it desires to proceed with PART B of the Research Plan (a “PART
B Election Notice”). If Biogen does not deliver a PART B Election Notice to Intec Pharma within ninety (90) days
after receipt of the PART A Deliverables, then this Agreement shall automatically terminate on the end of such ninety (90) day
period, and Biogen shall reimburse Intec Pharma’s out-of-pocket costs incurred in the performance of the Research
Plan in accordance with Section 8.3.3 (Termination by Biogen during the Research Period), provided that, if Biogen
notifies Intec Pharma within such ninety (90) day period of its decision not to deliver a PART B Election Notice, then Biogen
shall have no obligation to reimburse Intec Pharma for any out-of-pocket costs incurred by Intec Pharma after the date of such
notification.

 

    	14

    	 

    

  

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

(b)         If
Biogen delivers a PART B Election Notice to Intec Pharma within ninety (90) days after receipt of the PART A Deliverables, then
Intec Pharma shall promptly commence and perform the activities set forth in PART B of the Research Plan, which includes activities
related to the Pre-Commercialization Activities and Manufacture of GMP-compliant clinical batches of Collaboration Product (the
“Phase 1 Clinical Trial Materials”). Promptly following completion of the activities set forth in PART B of
the Research Plan, Intec Pharma shall deliver the Phase 1 Clinical Trial Materials to the clinical site(s) designated by Biogen
and shall deliver any other deliverables specified in PART B of the Research Plan to Biogen or its designee, as applicable (collectively,
the “PART B Deliverables”), which PART B Deliverables shall comply with the requirements and specifications
set forth in the Research Plan. Following receipt of the PART B Deliverables, Biogen shall inspect the Phase 1 Clinical Trial
Materials to determine, in its sole discretion, whether such Phase 1 Clinical Trial Materials are suitable for use in humans in
connection with a Phase 1 Clinical Trial of the applicable Collaboration Product as determined in accordance with Biogen’s
quality control acceptance criteria and otherwise satisfy the criteria and specifications set forth in the Research Plan, and
shall notify Intec Pharma of its determination in writing within 60 (sixty) days from receipt of the PART B Deliverables. If such
notice states that such Phase 1 Clinical Trial Materials are suitable for use in humans in connection with a Phase 1 Clinical
Trial of the applicable Collaboration Product and otherwise satisfy the criteria and specifications set forth in the Research
Plan, the date on which Intec Pharma receives such notice shall be deemed to be the “Phase 1 Materials Acceptance Date.”
If such notice states that such Phase 1 Clinical Trial Materials are not suitable for use in humans in connection with a Phase
1 Clinical Trial of the applicable Collaboration Product or are otherwise not in conformity with the criteria and specifications
set forth in the Research Plan (“Failure of PART B Deliverables”), Biogen may elect to either immediately
terminate this Agreement upon written notice to Intec Pharma or to have Intec Pharma repeat the activities set forth in PART B
of the Research Plan one more time, at no additional cost to Biogen.

 

(c)         Subject
to Biogen’s obligations under Article 4 (Payments), Intec Pharma shall be solely responsible for all aspects of, including
all costs associated with, the Manufacture of all clinical supplies of Collaboration Products necessary for the Parties to perform
the activities set forth in the Research Plan. Intec Pharma shall undertake all such Manufacturing activities in accordance with
GMP (for Phase 1 Clinical Trial Materials) and Applicable Laws.

 

2.3.3         Reports
of Research Activities. Within fifteen (15) days following the end of each Calendar Quarter during the Research Period, Intec
Pharma shall deliver to Biogen a report on the Pre-Commercialization Activities undertaken by Intec Pharma in accordance with
the Research Plan during such Calendar Quarter, which report shall include a reasonably detailed summary of (a) all Joint Know-How
and Agreement “[***]” Know-How resulting from such activities; and (b) the Pre-Commercialization Activities
undertaken during the prior Calendar Quarter and in process as of the date of the report.

 

    	15

    	 

    

  

NOTE: PORTIONS OF THIS EXHIBIT ARE THE
SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

2.4         Option
Exercise.

 

2.4.1         Option
Exercise Period. For purposes of this Agreement, “Option Exercise Period” means the period (including the
Research Period) beginning on the Effective Date and ending on the earliest of: (a) termination of this Agreement in accordance
with Section 2.3.2(a) (Performance of the Research), Section 2.3.2(b) (Performance of the Research) or Article 8 (Term and Termination;
Additional Obligations); or (b) the date that is twenty four (24) months after the Phase 1 Materials Acceptance Date, provided
that, if the FDA or EMA places a clinical hold on a Phase 1 Clinical Trial using the applicable Phase 1 Clinical Trial Materials
during such twenty four (24) month period, then such twenty four (24) month period shall be extended by a period of time equal
to the duration of such clinical hold; or (c) the exercise of the Option by Biogen pursuant to, and in accordance with, Section
2.4.2 (Option).

 

2.4.2         Option.
Subject to the terms and conditions of this Agreement, Biogen shall have the exclusive right and option, in its sole discretion,
to obtain an exclusive license in the Territory under the Intec Pharma Technology and under Intec Pharma’s interest in the
Joint Technology as set forth in Section 3.2.1 (Licenses to Biogen) (the “Option”). Biogen  may exercise
the Option by delivering written notice thereof to Intec Pharma (the “Option Exercise Notice”) at any time
during the Option Exercise Period and by paying Intec Pharma the License Fee within ninety (90) days thereof. On the date that
Intec Pharma has received both the Option Exercise Notice and License Fee (the “Option Exercise Date”), the
provisions of Article 3 (Commercial Period) (including the license granted in Section 3.2.1 (Licenses to Biogen) shall automatically
take effect and shall continue to apply for the remainder of the Term.

 

2.4.3         Effect
of Failure to Exercise Option. If Biogen does not deliver an Option Exercise Notice to Intec Pharma prior to the end of the
Option Exercise Period, the Option shall expire and this Agreement shall automatically terminate upon the expiration of the Option
Exercise Period. If Biogen delivers an Option Exercise Notice to Intec Pharma prior to the end of the Option Exercise Period,
but does not pay the License Fee to Intec Pharma within ninety (90) days of such delivery in accordance with Section 2.4.2 (Option),
the Option shall expire and this Agreement shall automatically terminate upon the expiration of such ninety (90) day period.

 

2.5         Right
to Negotiate for Additional Indications. If, at any time during the Term, Biogen determines that it desires to expand the
Field to include additional indications (a “Field Expansion”), then to the extent Intec Pharma is not precluded
contractually from doing so, the Parties shall negotiate the terms and conditions of such Field Expansion in good faith. In the
event that the Parties mutually agree in writing to a Field Expansion, the definition of “Field” under Section 1.28
shall automatically be amended to include the applicable additional indications, with no further action by the Parties. For clarity,
Biogen may request a Field Expansion an unlimited number of times during the Term, and the Parties’ obligations to negotiate
the terms and conditions of such Field Expansion in good faith under this Section 2.5 shall apply in each case.

 

    	16

    	 

    

  

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

2.6         Sublicenses.
Any sublicense from Intec Pharma to a sublicensee or from Biogen to a Sublicensee shall only be granted pursuant to a written
agreement, which shall be in compliance and not inconsistent with and shall be subject and subordinate to the terms and conditions
of this Agreement. The sublicensing Party shall furnish the other Party with a fully executed copy of any such sublicense agreement,
promptly after its execution, provided that, without derogating from Intec Pharma’s rights under Section 4.5.2 (Records;
Audit Rights), the sublicensing Party may redact any Confidential Information from such copy. Each such sublicense agreement shall
contain all provisions necessary to ensure the sublicensing Party’s ability to perform its obligations under this Agreement.

 

3.         COMMERCIAL
PERIOD

 

3.1         Commercial
Period. For purposes of this Agreement, “Commercial Period” means the period beginning on the Option
Exercise Date and ending on the last day of the Term.

 

3.2         Rights
Granted During Commercial Period.

 

3.2.1         Licenses
to Biogen. Effective only in the event of Biogen’s exercise of the Option in accordance with Section 2.4.2 (Option)
and the terms and conditions of this Agreement, Intec Pharma hereby grants to Biogen an exclusive (even as to Intec Pharma), worldwide,
royalty-bearing license with the right to grant sublicenses through multiple tiers, under the Intec Pharma Technology and Intec
Pharma’s interest in the Joint Technology to conduct Pre-Commercialization Activities for, Manufacture and Commercialize
Collaboration Products in the Field in the Territory.

 

3.2.2         License
to Intec Pharma. Subject to the Parties’ mutual agreement upon a Pre-Commercialization Plan pursuant to Section 3.3.2
(Pre-Commercialization Collaboration) and the terms and conditions of this Agreement, Biogen hereby grants to Intec Pharma a nonexclusive,
royalty-free, fully paid, worldwide license during the Commercial Period, with the right to grant sublicenses through multiple
tiers (subject to Biogen’s prior written consent), under the Biogen Technology, the Agreement “[***]” Technology
and Biogens interest in the Joint Technology for the sole purpose of conducting the activities set forth in the Pre-Commercialization
Plan.

 

3.2.3         Retained
Rights. No rights, other than those expressly set forth in this Section 3.2, are granted to either Party during the Commercial
Period hereunder, and no additional rights shall be deemed granted to either Party during the Commercial Period by implication,
estoppel or otherwise. All rights not expressly granted by either Party to the other hereunder are reserved.

 

3.3         Pre-Commercialization
Activities and Regulatory Activities During Commercial Period.

 

3.3.1         Pre-Commercialization
Activities. Subject to the terms of Section 2.3 (Pre-Commercialization Activities During Research Period) and Section 3.3.2
(Pre-Commercialization Collaboration), Biogen shall be solely responsible for all aspects of, including all costs associated with,
the Pre-Commercialization Activities for the Collaboration Products in the Field in the Territory during the Commercial Period,
including conducting Clinical Trials for the purpose of obtaining Regulatory Approval for Collaboration Products in the Field
in the Territory.

 

    	17

    	 

    

  

NOTE: PORTIONS OF THIS EXHIBIT ARE THE
SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

3.3.2         Pre-Commercialization
Collaboration. Upon Biogen’s written request to Intec Pharma on or after the Option Exercise Date, which request shall
be in Biogen’s sole discretion, (the “Pre-Commercialization Collaboration Notice”), the Parties will
discuss and seek to mutually agree upon a pre-commercialization plan pursuant to which Intec Pharma would perform certain Pre-Commercialization
Activities with respect to the Collaboration Products, including the Manufacture and supply of Collaboration Products for use
by Biogen in Clinical Trials (the “Pre-Commercialization Plan”). Such Pre-Commercialization Plan shall
include a budget covering all Pre-Commercialization Activities set forth therein. If the Parties mutually agree upon a Pre-Commercialization
Plan, then Intec Pharma shall conduct all of the Pre-Commercialization Activities set forth therein in accordance with the Pre-Commercialization
Plan. For clarity, (a) Biogen shall have no obligation to collaborate with Intec Pharma during the Commercial Period with
respect to any Pre-Commercialization Activities, unless and until (i) Biogen, in its sole discretion, chooses to deliver to Intec
Pharma a Pre-Commercialization Collaboration Notice and (ii) the Parties mutually agree upon the Pre-Commercialization Plan, and
(b) Intec Pharma shall have no obligations with respect to the Pre-Commercialization Activities during the Commercial Period,
unless and until (i) Intec Pharma receives the Pre-Commercialization Collaboration Notice from Biogen and (ii) the Parties
mutually agree upon the Pre-Commercialization Plan.

 

3.3.3         Pre-Commercialization
Reports. If the Parties mutually agree upon a Pre-Commercialization Plan in accordance with Section 3.3.2 (Pre-Commercialization
Collaboration), then during the period beginning on the date that the Pre-Commercialization Plan is mutually agreed upon by the
Parties and ending upon completion of all activities contemplated by such Pre-Commercialization Plan, Intec Pharma shall, within
fifteen (15) days following the end of each Calendar Quarter, provide a written report to Biogen regarding the Pre-Commercialization
Activities undertaken by Intec Pharma during such Calendar Quarter in accordance with the Pre-Commercialization Plan.

 

3.3.4         Regulatory
Affairs.

 

(a)         Biogen
shall have the exclusive right and responsibility to prepare and implement plans and strategies for seeking Regulatory Approval
for Collaboration Products in the Field in the Territory, and shall own and be responsible for preparing, seeking, submitting
and maintaining all Regulatory Filings and Regulatory Approvals for Collaboration Products in the Field in the Territory. Biogen
shall hold and manage the safety database for all Collaboration Products and will have global responsibility for all adverse event
collection and reporting. At Biogen’s request, Intec Pharma shall cooperate with Biogen in preparation of Regulatory Filings
for the purpose of obtaining Regulatory Approval (including the preparation of the CMC portion of any Regulatory Filing) for Collaboration
Products in the Field in the Territory, and Biogen shall reimburse Intec Pharma for reasonable costs incurred in connection with
such cooperation.

 

    	18

    	 

    

  

NOTE: PORTIONS OF THIS EXHIBIT ARE THE
SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN
PLACE OF THE REDACTED LANGUAGE.

  

(b)         Biogen
shall promptly inform Intec Pharma of any intended or actual inspection, written enquiry and/or visit to its facilities by a Regulatory
Authority in connection with any Collaboration Product, unless Biogen has reason to believe that such inspection, enquiry and/or
visit is not related to the Accordion Pill System as contained in any Collaboration Product, and promptly communicate to Intec
Pharma copies of any correspondence from the Regulatory Authority relating thereto. Biogen will use reasonable endeavors to ensure
that Intec Pharma may have a representative present during any such inspection. Biogen shall provide Intec Pharma with
at least fifteen (15) Business Days advance notice of any material meeting with a Regulatory Authority which is for the purpose
of obtaining Regulatory Approval for any Collaboration Product. Biogen shall provide Intec Pharma drafts of any material documents
or correspondence pertaining to any Collaboration Product prepared for submission to the Regulatory Authority, including with
respect to safety concerns and SUSAR referred to below, solely to the extent that such documents or correspondence relate to the
Accordion Pill System as contained in such Collaboration Product, sufficiently in advance of submission so that Intec Pharma may
review and comment on the substance of such material documents or correspondence. Biogen shall promptly provide copies
of any material documents or other correspondence received from the Regulatory Authority pertaining to Collaboration Products,
unless such documents or correspondence are not related to the Accordion Pill System as contained in any Collaboration Product.
Biogen agrees to report to Intec Pharma any information from any source, including, without limitation, employees, distributors,
agents, customers, user facilities, individuals, or medical or scientific literature, whether published or unpublished, that reasonably
suggests that there may be a safety concern with respect to the Accordion Pill System as contained in a Collaboration Product,
including a probability that the Accordion Pill System as contained in a Collaboration Product has caused or contributed to a
death, or an event defined as “SUSAR” (Suspected Unexpected Serious Adverse Reactions), as promptly as possible and
in any event simultaneously with any report of such information to a Regulatory Authority, and not later than fifteen (15) calendar
days following receipt of information of such event. In addition, Biogen shall, within fifteen (15) days following the
end of each Calendar Quarter, provide a written report to Intec Pharma regarding the activities undertaken by Biogen during
such Calendar Quarter in accordance with this Section 3.3.4.

  

    	19

    	 

    

  

NOTE: PORTIONS OF THIS EXHIBIT ARE THE
SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

(c)         If
Intec Pharma is Manufacturing any Collaboration Products under this Agreement, Intec Pharma shall promptly inform Biogen of
any intended or actual inspection, written enquiry and/or visit to its facilities by a Regulatory Authority in connection with
any Collaboration Product, and promptly communicate to Biogen copies of any correspondence from the Regulatory Authority relating
thereto. Intec Pharma will use reasonable endeavors to ensure that Biogen may have a representative present during any portions
of such inspection relating to a Collaboration Product. Intec Pharma shall promptly provide copies of any material documents or
other correspondence received from any Regulatory Authority pertaining to the manufacturing and safety of Accordion Pill System
or any Collaboration Product. Intec Pharma agrees to report to Biogen any information from any source, including, without
limitation, employees, distributors, agents, customers, user facilities, individuals, or medical or scientific literature, whether
published or unpublished, that reasonably suggests that there may be a safety concern with respect to the Accordion Pill System
or any Collaboration Product, including a probability that the Accordion Pill System or any Collaboration Product has caused or
contributed to a death, or an event defined as SUSAR, as promptly as possible and in any event no later than (i) one (1) Business
Day following receipt of information of such event, if such event is a fatal event, or (ii) two (2) Business Days following receipt
of information of such event, if such event is not a fatal event, in each case ((i) and (ii)), not to exceed four (4) calendar
days; provided, however, that if any such information is subject to any confidentiality obligations of Intec Pharma
towards Third Parties, Intec Pharma shall provide redacted information with respect to the Accordion Pill System to Biogen
 without exposing information that Intec Pharma is legally or contractually precluded from disclosing and, in the event that
Biogen requests any additional information that Intec Pharma is legally or contractually precluded from disclosing, Intec
Pharma shall use reasonable efforts to seek a waiver of such confidentiality obligations so that Intec Pharma may disclose such
additional information to Biogen.

 

(d)         At
any time during the Term, Biogen shall have the right, on thirty (30) days’ advance written notice to Intec Pharma
and during normal business hours, to inspect the manufacturing facilities of Intec Pharma and to audit Intec Pharma’s applicable
books and records in order to confirm compliance with Applicable Laws and with the terms and conditions of this Agreement. Intec
Pharma shall respond in writing to Biogen regarding any material items of concern identified by Biogen during such
inspections or audits within thirty (30) days of Biogen’s notice of the outcome of the audit or inspection and shall develop
a plan, reasonably satisfactory to Biogen, to remedy any items of noncompliance within ninety (90) days of notice thereof (or
more promptly if that can be accomplished in a commercially reasonable manner), and shall remedy such items of noncompliance as
set forth in such plan. Notwithstanding anything to the contrary, this Section 3.3.4(d) shall not apply during any period in which
Intec Pharma is not Manufacturing supplies of Collaboration Products.

 

3.3.5         Clinical
Supply. Biogen shall have the right, in its sole discretion, to Manufacture or authorize a Third Party to Manufacture
supplies of Collaboration Products for use in Clinical Trials or to contract with Intec Pharma for such Manufacture. In the event
that Biogen requests Intec Pharma to Manufacture and supply Collaboration Products for use in Clinical Trials or for other
regulatory purposes (“Clinical Collaboration Product Supply”), Biogen and Intec Pharma shall negotiate
in good faith the terms and conditions, including pricing terms, upon which Intec Pharma will Manufacture and supply Clinical
Collaboration Product Supply.

 

    	20

    	 

    

  

NOTE: PORTIONS
OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION
(“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]”
IN PLACE OF THE REDACTED LANGUAGE.

 

3.3.6         Commercial
Supply.

 

(a)         Responsibility
for Commercial Supply. Except as set forth in Section 3.3.6(b) (Commercial Supply by Intec Pharma) or otherwise agreed to
by the Parties in the Pre-Commercialization Plan or a Commercial Supply Agreement, Biogen shall be solely responsible for all
aspects of, including all costs associated with and the selection of contract manufacturers responsible for, the Manufacture of
all commercial supply of the Collaboration Products.

 

(b)         Commercial
Supply by Intec Pharma. Biogen agrees to consider in good faith the engagement of Intec Pharma as a Manufacturer of commercial
supply of the Collaboration Products. If Biogen determines to engage a Third Party to Manufacture Commercial Supply of Collaboration
Products, it shall so notify Intec Pharma and such engagement shall be subject to such Third Party executing a confidentiality
agreement with Biogen with non-disclosure and non-use terms and conditions that are reasonable and standard for such agreements
in the commercial pharmaceutical manufacturing industry, provided that the confidentiality period shall not be less than
10 years and the non-use terms shall be the most restrictive terms permitted under Applicable Law. Upon Intec Pharma’s written
request to Biogen made within thirty (30) days after notice from Biogen pursuant to the preceding sentence, and for a period
of twelve (12) months from such written request (unless the Parties enter into a manufacturing and supply agreement for Collaboration
Products or Biogen terminates such period in its sole discretion prior to the end of such period), the Parties shall use diligent
efforts to negotiate in good faith an agreement for the Manufacture of commercial supply of Collaboration Products by Intec Pharma
on terms (including pricing terms) customary in the pharmaceutical industry with respect to Manufacture and supply of like products
for commercial use, which terms shall, at Biogen’s election, reflect a toll manufacturing arrangement (the “Commercial
Supply Agreement”). Notwithstanding anything to the contrary, Biogen shall have no obligation to enter into a
Commercial Supply Agreement with Intec Pharma. For the avoidance of doubt, Biogen shall have the sole right, in its sole
discretion, to determine the identity and location of all Manufacturers and Manufacturing facilities with respect to commercial
supply of the Collaboration Products.

 

3.3.7         Transfer
of Manufacturing File. At any time upon Biogen’s request during the Commercial Period, Intec Pharma shall transfer to
Biogen or its designee a complete and final manufacturing file containing all Intec Pharma Know-How and any Agreement “[***]”
Know-How and Joint Know-How in Intec Pharma’s possession that is necessary or useful to enable the Manufacture of Collaboration
Products by Biogen or its designee (such Intec Pharma Know-How, the “Manufacturing File,” and such transfer, the “Technology
Transfer”). The Manufacturing File may not be altered without Intec Pharma's prior written consent. Biogen will reimburse
Intec Pharma for its reasonable out-of-pocket costs incurred in connection with the Technology Transfer. The Technology Transfer
shall be conducted pursuant to a mutually-agreed Technology Transfer plan developed by the Parties for the purpose of ensuring
the complete and timely transfer of the Manufacturing File; provided that, if the Parties are unable to agree on the terms
of such Technology Transfer plan, Biogen shall be entitled to determine the terms of such Technology Transfer plan, subject to
compliance with any applicable rules or requirements of the OCS provided to Biogen in writing by Intec Pharma. Intec Pharma’s
responsibilities under such Technology Transfer plan shall include (a) the provision of copies or samples of relevant documentation,
materials and other embodiments of the Manufacturing File to Biogen or its designee, and (b) the provision of reasonable
access during normal business hours to Intec Pharma’s qualified technical personnel to consult with Biogen or its
designee with respect to the Manufacturing File. Intec Pharma shall use commercially reasonable efforts to conduct the Technology
Transfer in a manner conducive to the successful Manufacture of clinical and commercial supplies of the Collaboration Products.

 

    	21

    	 

    

  

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

3.4         Commercialization
Activities During the Commercial Period. Biogen shall be responsible for all aspects of, including all costs associated with,
the Commercialization of the Collaboration Products in the Field in the Territory, including the conduct of all pre-marketing,
marketing, promotion, sales, distribution, import and export activities (including securing reimbursement, sales and marketing
and conducting any post-marketing trials or post-marketing safety surveillance or maintaining databases), pricing and branding.
Biogen shall, and shall cause its Affiliates and permitted Sublicensees to, undertake all such Commercialization
activities in accordance with Applicable Laws.

 

3.5         No
Implied Obligations. For clarity, nothing in this Agreement shall create any obligation on the part of Biogen to conduct Pre-Commercialization
Activities for, seek Regulatory Approval of, Manufacture or Commercialize any Product (including any Collaboration Product) in
any country in the Territory. Biogen shall conduct any activities related to the Pre-Commercialization Activities, Regulatory
Approval, Manufacture and Commercialization of the Products (including the Collaboration Products) at its sole election and in
its sole discretion. Any decision by Biogen (a) not to pursue the Pre-Commercialization Activities, Regulatory Approval, Manufacture
or Commercialization of any Product (including any Collaboration Product), or (b) to pursue the Pre-Commercialization Activities,
Regulatory Approval, Manufacture or Commercialization of any Product (including any Collaboration Product) in collaboration with
a Third Party, shall not constitute a breach of this Agreement. For the avoidance of doubt, the foregoing provision shall not
be construed as diminishing Biogen’s obligations or expanding Biogen’s rights as expressly set forth
in this Agreement.

 

4.         PAYMENTS

 

4.1         Upfront
Fee. Biogen shall pay to Intec Pharma an upfront fee of $250,000 within fifteen (15) days after the Effective
Date, which fee shall be irrevocable, non-refundable and non-creditable toward any other payments due to Intec Pharma hereunder.

 

4.2         License
Fee. If Biogen exercises the Option, Biogen shall pay to Intec Pharma a fee of $8,000,000 (the “License
Fee”) within ninety (90) days of delivering to Intec Pharma the Option Exercise Notice which fee shall be irrevocable,
non-refundable and non-creditable toward any other payments due to Intec Pharma hereunder.

 

    	22

    	 

    

  

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

4.3         Research
Period Milestones.

 

4.3.1         Research
Period Milestone Payments. Biogen shall pay to Intec Pharma the applicable milestone payment (each
a “Research Period Milestone Payment”) set forth opposite the corresponding milestone event (each a “Research
Period Milestone Event”) within thirty (30) days after the first occurrence of such Research Period Milestone Event
by Intec Pharma, which fees shall be irrevocable, non-refundable and non-creditable toward any other payments due to Intec Pharma
hereunder:

 

	 	 	 	 	Research Period	 
	 	 	 	 	Milestone	 
	 	 	Research Period Milestone Event	 	Payment	 
	 	 	 	 	 	 
	1	 	Biogen’s
    “[***]”	 	$	“[***]”	 
	 	 	 	 	 	 	 
	2	 	“[***]”	 	$	“[***]”	 

 

4.3.2         Determination
that Research Period Milestone Events have Occurred. Intec Pharma shall provide Biogen  with prompt written
notice upon the first occurrence of a Research Period Milestone Event but, in any event, no later than thirty (30) days after
the occurrence of such Research Period Milestone Event. Each Research Period Milestone Payment will be paid only once, upon the
first achievement by a Collaboration Product to reach the applicable milestone. For the avoidance of doubt, the later achievement
by the same or a different Collaboration Product to reach a milestone for which payment has already been made shall not result
in any payment becoming due.

 

4.4         Commercial
Period Milestones.

 

4.4.1         Commercial
Period Milestone Payments. If Biogen exercises the Option pursuant to Section 2.4.2 (Option), then, subject to
the terms and conditions of this Agreement, Biogen shall pay to Intec Pharma the applicable milestone payments (each a
“Commercial Period Milestone Payment”) set forth opposite the corresponding milestone event (each a
“Commercial Period Milestone Event”) within thirty (30) days after the first achievement of such
Commercial Period Milestone Event by Biogen or its Affiliates or permitted Sublicensees, which fees shall be irrevocable,
non-refundable and non-creditable toward any other payments due to Intec Pharma hereunder:

 

	 	 	 	 	Commercial	 
	 	 	 	 	Period Milestone	 
	 	 	Commercial Period Milestone Event	 	Payment	 
	 	 	 	 	 	 	 
	1	 	“[***]” Biogen
    “[***]” Biogen “[***]”
    Biogen	 	$	“[***]”	 

 

    	23

    	 

    

  

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

	 	 	Commercial Period Milestone Event	 	Commercial 
 Period Milestone 
 Payment	 
	 	 	 	 	 	 
	2	 	“[***]”	 	$	“[***]”	 
	 	 	 	 	 	 	 
	3	 	“[***]”	 	$	“[***]”	 
	 	 	 	 	 	 	 
	4	 	“[***]”	 	$	“[***]”	 
	 	 	 	 	 	 	 
	5	 	“[***]”	 	$	“[***]”	 

 

4.4.2       Determination
that Commercial Period Milestone Events have Occurred. Biogen shall provide Intec Pharma with prompt written notice upon the
first occurrence of a Commercial Period Milestone Event but, in any event, no later than thirty (30) days after the occurrence
of such Commercial Period Milestone Event. Each Commercial Period Milestone Payment will be paid only once, upon the first achievement
by a Collaboration Product to reach the applicable milestone. For the avoidance of doubt, the later achievement by the same or
a different Collaboration Product to reach a milestone for which payment has already been made shall not result in any payment
becoming due.

 

4.5         Payment
of Royalties; Royalty Rate; Accounting and Records.

 

4.5.1       Payment
of Royalties.

 

(a)         Royalty
Rate. If Biogen exercises the Option pursuant to Section 2.4.2 (Option), then, subject to the terms and conditions
of this Agreement, Biogen shall pay Intec Pharma, on a country-by-country and Collaboration Product-by-Collaboration Product
basis, a “[***]” percent (“[***]”%) royalty on Annual Net Sales of all Collaboration Products in
each Calendar Year (or partial Calendar Year for the year in which the First Commercial Sale occurs and any partial year resulting
from the end of the Royalty Term) commencing with the First Commercial Sale of any Collaboration Product in any country in the
Territory and ending upon the last day of the last Royalty Term for all Collaboration Products.

 

(b)         Royalty
Cap. In no event shall the amount of royalties owing to Intec Pharma under Section 4.5.1(a) (Royalty Rate) exceed (i) a total
sum of $25,000,000 in any Calendar Year (the “Annual Royalty Cap”) or (ii) a total sum of $100,000,000 over
the course of this Agreement. For clarity, any amount in excess of the Annual Royalty Cap that would otherwise be payable to Intec
Pharma in a given Calendar Year under Section 4.5.1(a) (Royalty Rate) shall not be carried forward for payment in any subsequent
Calendar Year.

 

(c)         Royalty
Stacking. The amount of royalties owing to Intec Pharma under Section 4.5.1(a) (Royalty Rate) for any Collaboration
Product shall be reduced by “[***]” percent (“[***]”%) of the amount of royalties paid
by Biogen or any of its Affiliates to any Third Party in consideration for the license of Patent Rights or Know-How that
Biogen in good faith, based on the advice of counsel, believes must be obtained in order to practice any Intec Pharma
Technology in connection with any Collaboration Product without infringing or misappropriating Patent Rights or other
intellectual property rights of Third Parties.

 

    	24

    	 

    

  

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

(d)         Limit
on Royalty Reductions. In no event shall the royalties owed under Section 4.5.1(a) (Royalty Rate), with respect to a Collaboration
Product in a country be reduced by operation of Section 4.5.1(c) (Royalty Stacking), by more than “[***]”percent
(“[***]”%) of what would otherwise be owed to Intec Pharma under Section 4.5.1(a) (Royalty Rate); provided,
however, that if any amount payable to a Third Party and otherwise permitted to be offset against the royalties due to
Intec Pharma with respect to a Collaboration Product pursuant to Section 4.5.1(c) (Royalty Stacking) cannot be offset against
such royalties due to the provisions of this Section 4.5.1(d), such unused amount may be carried forward and offset against royalties
due with respect to such Collaboration Product in future royalty periods.

 

(e)         Fully
Paid-Up, Royalty-Free License. Following the expiration of the Royalty Term for any Collaboration Product in any country,
no further royalties shall be payable under Section 4.5.1(a) (Royalty Rate) in respect of sales of such Collaboration Product
in such country and, thereafter, the licenses granted to Biogen under Section 3.2.1 (Licenses to Biogen) with respect
to such Collaboration Product in such country shall automatically become fully paid-up, perpetual, irrevocable, royalty-free,
non-exclusive, sublicensable licenses.

 

(f)         Payment
Dates and Reports. Commencing with the first Calendar Quarter in which the First Commercial Sale of a Collaboration Product
occurs with respect to payments owed under Section 4.5.1(a) (Royalty Rate), Biogen shall deliver to Intec Pharma, within sixty
(60) days after the end of each Calendar Quarter, a report showing, with respect to the relevant Calendar Quarter: (a) the gross
sales and Net Sales of each Collaboration Product by type of Collaboration Product and country in the Territory; (b) the quantity
of each type of Collaboration Product sold; (c) the total amount of deductions from gross sales to determine Net Sales; (d) the
applicable royalty rate for each Collaboration Product in each country in the Territory after applying any reductions set forth
above; and (e) a calculation of the amount of royalty due to Intec Pharma under Section 4.5.1(a) (Royalty Rate). Payments under
Section 4.5.1(a) (Royalty Rate) shall be made by Biogen within sixty (60) days after the end of each Calendar Quarter.

 

4.5.2         Records;
Audit Rights. Biogen shall, and shall cause its Affiliates and permitted Sublicensees to, keep and maintain for three (3)
years from the date of each payment under Section 4.5.1(a) (Royalty Rate) complete and accurate records of gross sales and Net
Sales of each Collaboration Product by Biogen, its Affiliates and its permitted Sublicensees, in sufficient detail to allow the
payments owing under Section 4.5.1(a) (Royalty Rate) to be determined accurately. Intec Pharma shall have the right for a period
of three (3) years after receiving any such payment to appoint, at its expense, an independent certified public accountant reasonably
acceptable to Biogen, to audit the relevant records of Biogen, its Affiliates and its permitted Sublicensees in order to verify
that the amount of such payment was correctly determined. Biogen, its Affiliates and its permitted Sublicensees shall each make
its records available for audit by such independent certified public accountant during regular business hours at such place or
places where such records are customarily kept, upon thirty (30) days written notice from Intec Pharma. Such audit right shall
not be exercised by Intec Pharma more than once in any Calendar Year. All records made available for audit shall be deemed to
be Confidential Information of Biogen. If such independent certified public accountant correctly concludes that there was an underpayment
by Biogen hereunder, Biogen shall promptly (but in any event no later than forty-five (45) days after Intec Pharma’s
receipt of the report so concluding) make payment to Intec Pharma of any shortfall. Intec Pharma shall bear the full cost of such
audit unless such audit discloses an underreporting by Biogen or its Affiliates or permitted Sublicensees of five percent
(5%) of the aggregate amount of royalties payable in any Calendar Year, in which case Biogen shall reimburse
Intec Pharma for all costs incurred by Intec Pharma in connection with such audit.

 

    	25

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT ARE THE
SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

4.5.3         Late
Payments. Any payment under this Agreement, including underpayments discovered during an audit, that is past due shall
bear interest at a rate equal to the thirty (30) day U.S. dollar LIBOR rate effective for the date that payment was due, as
reported by The Wall Street Journal (New York edition), plus one percent (1%) per annum calculated on the number of the days
from the due date until such payment is paid in full or, if less, the maximum interest rate permitted by Applicable Laws. Any
such payment shall, when made, be accompanied by, and credited first to, all interest so accrued.

 

4.5.4         Taxes.
It is understood and agreed between the Parties that any payments made by Biogen under this Agreement are inclusive of any value
added or similar tax imposed upon such payments. In addition, in the event any payments made by Biogen pursuant to this Agreement
become subject to withholding taxes under the laws or regulations of any jurisdiction or court, agency, department, authority
or other instrumentality of any national, state, county, city or other political subdivision, Biogen shall deduct and withhold
the amount of such taxes for the account of Intec Pharma to the extent required by Applicable Laws; such amounts payable to Intec
Pharma shall be reduced by the amount of taxes deducted and withheld; and Biogen shall pay the amounts of such taxes to the proper
governmental authority in a timely manner and promptly transmit to Intec Pharma an official tax certificate or other evidence
of such tax obligations together with proof of payment from the relevant governmental authority of all amounts deducted and withheld
sufficient to enable Intec Pharma to claim such payment of taxes. Any such withholding taxes required under Applicable Laws to
be paid or withheld shall be an expense of, and borne solely by, Intec Pharma. Biogen will provide Intec Pharma with reasonable
assistance to enable Intec Pharma to recover such taxes as permitted by Applicable Laws. Should any payment required to be made
to Intec Pharma in accordance with the provisions of this Agreement be subject to withholding of any taxes assessable upon Intec
Pharma by Biogen or its Affiliates or Sublicensees, Biogen shall inform Intec Pharma of such withholding requirement in advance
of the first payment to be made by Biogen or anyone on its behalf to Intec Pharma hereunder, so as to allow Intec Pharma to obtain
and provide Biogen with an appropriate certificate of exemption, if available. No withholding shall be made if an exemption is
timely obtained, and for as long as such exemption is valid.

 

    	26

    	 

    

  

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

4.5.5         Foreign
Currency Exchange. All payments to be made by Biogen to Intec Pharma under this Agreement shall be made in U.S. Dollars and
may be paid by check made to the order of Intec Pharma or by bank wire transfer in immediately available funds to such bank account
as may be designated in writing by Intec Pharma from time to time. Whenever, for purposes of calculating the payments due under
Section 4.5.1(a) (Royalty Rate), conversion from foreign currency will be required, all amounts will first be calculated in the
currency of sale and then converted into U.S. Dollars by applying the rate of exchange generally used by Biogen for financial
reporting purposes.

 

4.5.6         Blocked
Currency. In each country in the Territory where the local currency cannot be converted to U.S. Dollars and removed from the
country, payments due under Section 4.5.1(a) (Royalty Rate) shall continue to be accrued in such country and Net Sales in such
country shall continue to be reported. Intec Pharma can then choose to receive payment in local currency by deposit in a local
bank or other depository designed in writing by Intec Pharma.

 

5.         CONFIDENTIALITY;
PUBLICITY; PUBLICATION.

 

5.1         Confidentiality.

 

5.1.1         Confidentiality
Obligations. Intec Pharma and Biogen each recognizes that the other Party’s Confidential Information constitutes highly
valuable assets of such other Party. Intec Pharma and Biogen each agrees that, subject to Section 5.1.2 (Limited Disclosure),
it will not disclose, and will cause its Affiliates and permitted sublicensees not to disclose, any Confidential Information of
the other Party, and it will not use, and will cause its Affiliates and permitted sublicensees not to use, any Confidential Information
of the other Party except as expressly permitted under this Agreement, provided that such obligations shall apply during
the Term and for an additional five (5) years thereafter.

 

5.1.2         Limited
Disclosure. Intec Pharma and Biogen each agrees that disclosure or transfer of its Confidential Information may be made by
the other Party to any employee, consultant or Affiliate of such other Party or Third Party subcontractor engaged by such other
Party to enable such other Party to exercise its rights or to carry out its responsibilities under this Agreement, provided
that any such disclosure or transfer shall only be made to Persons who are bound by written obligations as described in Section
5.1.3 (Employees and Consultants). In addition, Intec Pharma and Biogen each agrees that the other Party may disclose its Confidential
Information (a) to such other Party’s sublicensees as expressly permitted under this Agreement; (b) on a need-to-know basis
to such other Party’s legal and financial advisors; (c) as reasonably necessary in connection with an actual or potential
permitted sublicense of such other Party’s rights hereunder; (d) to any Third Party that is or may be engaged by a Party
to perform services in connection with the Research Plan or the Commercialization or Manufacture of Collaboration Products in
accordance with the terms of this Agreement as necessary to enable such Third Party to perform such services under customary obligations
of confidentiality; and (e) for any other purpose with the other Party’s consent. In addition, each Party agrees that the
other Party may disclose such Party’s Confidential Information (i) as reasonably necessary to file, prosecute or maintain
Patent Rights, or to file, prosecute or defend litigation related to Patent Rights, in accordance with this Agreement; or (ii)
as required by Applicable Laws, provided that, in the case of any disclosure under this clause (ii), the disclosing Party
shall (1) if practicable, provide the other Party with reasonable advance notice of, and an opportunity to comment on, any such
required disclosure and (2) if requested by the other Party, cooperate in all reasonable respects with the other Party’s
efforts to obtain confidential treatment or a protective order with respect to any such disclosure, at the other Party’s
expense. Each Party may disclose to potential acquirers and investors or to underwriters, placement agents or advisers in any
such transaction, in each case, pursuant to obligations of confidentiality no less stringent than those set forth in this Article
5, the financial terms of this Agreement. With respect to any disclosure of this Agreement by Intec Pharma under this Section
5.1.2, Intec Pharma shall redact the definitions of the Product and the Field prior to such disclosure, unless required otherwise
under Applicable Laws.

 

    	27

    	 

    

  

NOTE: PORTIONS OF THIS EXHIBIT ARE THE
SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

5.1.3         Employees
and Consultants. Intec Pharma and Biogen each hereby represents that all of its employees and consultants, and all of the
employees and consultants of its Affiliates, who have access to Confidential Information of the other Party are or will, prior
to their access, be bound by written obligations to maintain such Confidential Information in confidence. Each Party agrees to
use, and to cause its Affiliates to use, reasonable efforts to enforce such obligations and to prohibit its employees and consultants
from using such information except as expressly permitted under this Agreement. Each Party will be liable to the other for any
disclosure or misuse by its employees and consultants of Confidential Information of the other Party.

 

5.2         Publicity.
Neither Party shall issue a press or news release or make any similar public announcement related to this Agreement, or publish
or make any public presentation related to this Agreement or its activities hereunder, without the prior written consent of the
other Party, unless required by Applicable Laws, in which case the disclosing Party shall (a) provide the other Party with reasonable
advance notice of, and an opportunity to comment on, any such required public announcement and (b) reasonably consider all comments
provided by the other Party. Without limiting the foregoing, unless required by Applicable Laws, Intec Pharma shall not, without
Biogen’s prior written consent, make any press or news release or other public announcement that directly or indirectly
identifies Biogen, the Product, the Agreement “[***]”Technology or any specific activities conducted under
the Research Plan.

 

5.3         Publications
and Presentations. In the event Biogen wishes to make a publication or public presentation related to this Agreement,
Biogen shall deliver to Intec Pharma a copy of the proposed written publication or an outline of the proposed oral
presentation at least thirty (30) days (or, in the case of consulting or Third Party research agreements, such shorter period
as required by the consulting or other research agreement) prior to submission for publication or presentation. Intec Pharma
shall have the right to delay such proposed publication or presentation for up to sixty (60) days (or, in the case of
consulting or Third Party research agreements, such shorter period as required by the consulting or other research agreement)
in order to file patent applications protecting Intec Pharma’s rights in any information included in such proposed
publication or presentation to the extent such filings are consistent with Section 7.1.1   (Intec
Pharma Prosecution Rights), and Intec Pharma shall have the right to request the removal or redaction of any of its
Confidential Information in any such proposed publication or presentation. Intec Pharma shall not make any publication or
public presentation related to this Agreement or any activities hereunder, except for such publications or public
presentations that (a) relate solely to the general applicability of the Accordion Pill System and (b) do not directly or
indirectly identify Biogen, the Product, the Agreement “[***]” Technology or any specific activities
conducted under the Research Plan.

 

    	28

    	 

    

  

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

5.4         Prior
Approved Publication. Notwithstanding Sections 5.2 (Publicity) and 5.3 (Publications and Presentations), either Party may include
in a public disclosure or in a scientific or medical publication or presentation, without prior delivery to or approval by the
other Party, any information which has previously been included in a public disclosure or scientific or medical publication that
has been approved pursuant to Section 5.2 (Publicity) or reviewed pursuant to Section 5.3 (Publications and Presentations) or published
or publicly disclosed by the other Party. A Party relying on this Section 5.4 shall bear the burden of establishing that information
has previously been included in a public disclosure or scientific or medical publication that has been approved pursuant to Section
5.2 (Publicity) or approved by the other Party pursuant to Section 5.3 (Publications and Presentations) or published or publicly
disclosed by the other Party.

 

6.         INTELLECTUAL
PROPERTY RIGHTS

 

6.1         Intec
Pharma Ownership. Intec Pharma shall have sole and exclusive ownership of all right, title and interest on a worldwide basis
in and to (a) any and all Know-How that is developed, conceived or, in the case of patentable Know-How, Invented solely
by Intec Pharma or any of its Affiliates (or a Third Party acting on any of their behalf) in the course of activities conducted
pursuant to this Agreement (including the Research Plan), (b) any and all Patent Rights that claim the foregoing Know-How and
(c) any and all General Accordion Pill Technology, excluding, in each case ((a) and (b)), any Agreement “[***]”
Technology. Biogen agrees to cooperate with Intec Pharma to execute assignment documents and other documents necessary to
effectuate the intent of this Section 6.1. For the avoidance of doubt, Intec Pharma shall have sole and exclusive ownership of
all right, title and interest on a worldwide basis in and to all Patent Rights and Know-How of Intec Pharma existing as of the
Effective Date. Except for the license grants expressly set forth in this Agreement, nothing herein shall grant Biogen
any right, title or interest in or to any Patent Rights or Know-How of Intec Pharma existing as
of the Effective Date.

 

6.2         Biogen
Ownership. Biogen shall have sole and exclusive ownership
of all right, title and interest on a worldwide basis in and to (a) any and all Know-How that is developed, conceived or, in the
case of patentable Know-How, Invented solely by Biogen or any of its Affiliates (or a Third Party acting on any of their behalf)
in the course of activities conducted pursuant to this Agreement (including the Research Plan), (b) any and all Patent Rights
that claim the foregoing Know-How and (c) any and all Agreement “[***]” Technology, excluding, in each case
((a) and (b)), any General Accordion Pill Technology. Intec Pharma agrees to cooperate with Biogen to execute assignment documents
and other documents necessary to effectuate the intent of this Section 6.2. For the avoidance of doubt, Biogen shall have
sole and exclusive ownership of all right, title and interest on a worldwide basis in and to all Patent Rights and Know-How of
Biogen existing as of the Effective Date. Except for the license grants expressly set forth in this Agreement, nothing herein
shall grant Intec Pharma any right, title or interest in or to any Patent Rights or Know-How of Biogen existing as of the Effective
Date.

 

    	29

    	 

    

  

NOTE: PORTIONS OF THIS EXHIBIT ARE THE
SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

6.3         Joint
Technology. Each Party shall promptly notify the Patent Coordinators in writing of any Joint Know-How arising out of such Party’s
performance of activities pursuant to this Agreement. Each Party shall have joint ownership of all right, title and interest on
a worldwide basis in and to any and all Joint Technology. The Parties will cooperate to execute assignment documents and other
documents necessary to effectuate the intent of the foregoing. Subject to the rights and licenses granted to, and the obligations
of, each Party under this Agreement (including the obligations of Intec Pharma under Section 9.4 (Exclusivity)), each Party is
entitled to practice the Joint Technology for all purposes on a worldwide basis and to license its interest in the Joint Technology
without consent of and without a duty of accounting to the other Party. Each Party will grant, and hereby does grant, all permissions,
consents and waivers with respect to, and licenses under, the Joint Technology, throughout the world, necessary to provide the
other Party with such rights of use and exploitation of the Joint Technology, and will execute documents as necessary to effectuate
the intent of the foregoing.

 

6.4         Agreement
“[***]” Technology. Intec Pharma shall promptly notify the Patent Coordinators in writing of any Agreement
“[***]”  Know-How arising out of Intec Pharma’s performance of activities pursuant to this Agreement.
Biogen shall have sole and exclusive ownership of, and Intec Pharma shall and hereby does assign to Biogen, all right,
title and interest on a worldwide basis in and to any and all Agreement “[***]” Technology. Intec Pharma will
provide all cooperation which Biogen reasonably determines is necessary to effectuate the intent of this Section 6.4, including
executing and delivering further assignments, consents, releases and other commercially reasonable documentation, and providing
good faith testimony by affidavit, declaration, deposition, in-person or other proper means and otherwise assisting Biogen
in support of any effort by Biogen to establish, perfect, defend or enforce its rights in such Agreement “[***]”
Technology through filing and prosecution of Agreement “[***]” Patent Rights, applications to extend patent
term, interferences, oppositions, reexaminations, Inter Partes reviews, post grant reviews, regulatory proceedings, litigation
or other means. Intec Pharma will obtain the cooperation of the individual inventors of any inventions disclosed in any Agreement
“[***]” Patent Rights, including (a) obtaining signatures of such inventors on any patent applications or other
documentation reasonably necessary to obtain patent protection for such inventions and (b) procuring (at Biogen’s expense)
such inventors’ good faith testimony by affidavit, declaration, deposition in-person or other proper means in support of
Biogen’s efforts in establishing, perfecting, defending or enforcing patent rights to such inventions. To the extent Intec
Pharma does not execute any assignment of the Agreement “[***]” Technology reasonably requested by Biogen within
thirty (30) business days of the delivery of such assignment to Intec Pharma, then Intec Pharma hereby irrevocably appoints Biogen
as its attorney-in-fact with the right, authority and ability to execute and enter into such assignment on behalf of Intec Pharma.
Intec Pharma stipulates and agrees that such appointment is a right coupled with an interest and will survive the unavailability
of Intec Pharma at any future time.

 

    	30

    	 

    

  

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

6.5         Patent
Coordinators. No later than thirty (30) days after the Effective Date, Biogen and Intec Pharma shall, by written notice to
the other Party, each appoint a patent coordinator reasonably acceptable to the other Party (each, a “Patent Coordinator”)
to serve as such Party’s primary liaison with the other Party on matters relating to patent filing, prosecution, maintenance
and enforcement. Each Party may replace its Patent Coordinator at any time by notice in writing to the other Party.

 

6.6         No
Other Rights. Except as expressly set forth in this Agreement, neither Party shall have any right, title or interest in or
to, or any right to exploit or practice, the Know-How or Patent Rights of the other Party.

 

7.         FILING,
PROSECUTION AND MAINTENANCE OF PATENT RIGHTS

 

7.1         Patent
Filing, Prosecution and Maintenance.

 

7.1.1         Intec
Pharma Prosecution Rights. As between the Parties, Intec Pharma, acting in good faith, at its sole expense and acting through
patent counsel or agents of its choice, shall be solely responsible for the preparation, filing, prosecution and maintenance of
the Intec Pharma Patent Rights. At Intec Pharma’s request, Biogen shall cooperate with and assist Intec Pharma in all reasonable
respects, in connection with Intec Pharma’s preparation, filing, prosecution (including review and comments regarding responses
to office actions and/or official actions from worldwide patent offices) and maintenance of the Intec Pharma Patent Rights. Intec
Pharma shall provide Biogen with copies of all patent applications filed hereunder for any Intec Pharma Patent Rights that claim
or Cover a Product, and other material submissions and correspondence with relevant patent offices, in sufficient time to allow
for review and comment by Biogen and provide Biogen and its patent counsel with an opportunity to consult with Intec Pharma
and its patent counsel regarding the filing and contents of any such patent application, submission or response. Intec Pharma
shall consider in good faith and implement where possible the reasonable comments made by Biogen with respect to any such patent
application, submission or response.

 

7.1.2         Biogen
Prosecution Rights. Biogen, at its sole expense and acting through patent counsel or agents of its choice, shall be solely
responsible for the preparation, filing, prosecution and maintenance of the Biogen Patent Rights and Agreement “[***]”
Patent Rights. At Biogen’s request, Intec Pharma shall cooperate with and assist Biogen in all reasonable respects,
in connection with Biogen’s preparation, filing, prosecution (including review and comments regarding responses to office
actions and/or official actions from worldwide patent offices) and maintenance of the Biogen Patent Rights and Agreement
“[***]” Patent Rights. Biogen shall provide Intec Pharma with copies of all patent applications filed hereunder
for any Agreement “[***]” Patent Rights, and other material submissions and correspondence with relevant patent
offices, in sufficient time to allow for review and comment by Intec Pharma and provide Intec Pharma and its patent counsel with
an opportunity to consult with Biogen and its patent counsel regarding the filing and contents of any such patent application,
submission or response. Biogen shall consider in good faith and implement where possible the reasonable comments made by Intec
Pharma with respect to any such patent application, submission or response.

  

    	31

    	 

    

  

NOTE: PORTIONS OF THIS EXHIBIT ARE THE
SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

7.1.3         Prosecution
of Joint Patent Rights. The Patent Coordinators shall determine which Party shall be responsible for the preparation, filing,
prosecution, maintenance and enforcement of the Joint Patent Rights. Each Party shall bear fifty percent (50%) of the costs incurred
by the prosecuting Party with respect to the preparation, filing, prosecution and maintenance of the Joint Patent Rights; provided, however,
that if either Party elects not to pay its share of such costs with respect to any Joint Patent Right in one or more countries,
such Party shall so notify the other Party and the other Party shall have the right to prepare, file, prosecute and maintain such
Joint Patent Right in such countries at its sole cost and expense. If a Party elects to prepare, file, prosecute and maintain
a Joint Patent Right in such countries at its sole cost and expense in accordance with the immediately preceding sentence, then
the other Party shall cooperate with such Party to transfer all patent activities relating to such Joint Patent Right in such
countries to such Party (to the extent that such Party is not already in control of such activities), including by executing and
filing of appropriate instruments to facilitate the transition of such patent activities, and shall assign all of its rights,
title and interests in, to and under such Joint Patent Right to such Party. Upon assignment pursuant to the immediately preceding
sentence, the assigned Patent Right shall cease to be a Joint Patent Right in such countries for purposes of this Agreement and
shall be deemed to be a Biogen Patent Right (if Biogen is the assignee) or an Intec Pharma Patent Right (if Intec Pharma is the
assignee).

 

7.1.4         Coordination
of Patent Filings. The Parties, through the Patent Coordinators, shall coordinate as reasonably necessary or useful to achieve
the greatest degree of patent coverage and to avoid creating potential issues in prosecution of the Agreement “[***]”
Patent Rights, the applicable Intec Pharma Patent Rights (including the General Accordion Pill Patent Rights), the Joint Patent
Rights and the Biogen Patent Rights, including coordinating simultaneous filing dates to minimize creating prior art issues. For
clarity, in the event that the Parties desire to prosecute any Patent Rights that claim Know-How that is both (a) generally applicable
to pharmaceutical products and compounds and (b) specifically applicable to a Product, then the Parties shall coordinate through
the Patent Coordinators to submit two separate filings covering the claims in each of clause (a) and clause (b) in a manner to
ensure the greatest opportunity to have both patent applications filed and patents issued therefrom. The Patent Rights and underlying
Know-How described in clause (a) shall constitute General Accordion Pill Patent Rights and General Accordion Pill Know-How, respectively,
if such Patent Rights and underlying Know-How fall within the definitions of General Accordion Pill Patent Rights or General Accordion
Pill Know-How, and the Patent Rights and underlying Know-How described in clause (b) shall constitute Agreement “[***]”
Patent Rights and Agreement “[***]” Know-How, respectively, if such Patent Rights and underlying Know-How
fall within the definitions of Agreement “[***]” Patent Rights or Agreement
“[***]” Know-How.

 

    	32

    	 

    

 

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

7.2         Legal
Actions.

 

7.2.1       Notice.
In the event either Party becomes aware of any suspected infringement, unauthorized use or misappropriation of any Joint Technology,
Intec Pharma Technology, Biogen Technology or Agreement “[***]” Technology (each, an “Infringement”),
such Party shall promptly notify the other Party and provide such other Party with all details and evidence of such Infringement
of which it is aware (each, an “Infringement Notice”).

 

7.2.2       Third
Party Infringement of Joint Technology. Unless otherwise determined by the Parties, in the event of an Infringement of Joint
Technology, Biogen shall have the sole right and option, but not the obligation, to address such Infringement by taking
reasonable steps, which may include the institution of legal proceedings or other action, provided that, if Biogen decides
to bring an action to address such Infringement and such Infringement does not involve a Product, the Parties would jointly determine
the strategy and course of action against such Infringement of Joint Technology, with Biogen having final decision-making
authority with respect to such strategy and course of action. All costs, including attorneys’ fees, relating to such legal
proceedings or other action shall be borne by Biogen.

 

7.2.3       Third
Party Infringement of Intec Pharma Technology.

 

(a)         Right
to Enforce During Option Exercise Period. Unless otherwise determined by the Parties, in the event that the Parties first
become aware of an Infringement of Intec Pharma Technology during the Option Exercise Period, Intec Pharma shall have the sole
right and option, but not the obligation, to address such Infringement by taking reasonable steps, which may include the institution
of legal proceedings or other action. All costs, including attorneys’ fees, relating to such legal proceedings or other
action shall be borne by Intec Pharma.

 

(b)         Right
to Enforce During Commercial Period.

 

(i)         If,
during the Commercial Period, the Parties first become aware of an Infringement of Intec Pharma Technology by infringers that
are manufacturing or commercializing any Product, then, unless otherwise determined by the Parties, Biogen shall have the
first right and option, but not the obligation, to address any such Infringement by taking reasonable steps, which may include
the institution of legal proceedings or other action. All costs, including attorneys’ fees, relating to such legal proceedings
or other action shall be borne by Biogen. If Biogen does not take or initiate commercially reasonable steps to eliminate
the Infringement within one hundred twenty (120) days from any Infringement Notice, then Intec Pharma shall have the right and
option, but not the obligation, to do so at its own expense.

 

(ii)         If,
during the Commercial Period, the Parties first become aware of an Infringement of Intec Pharma Technology by infringers that are
not manufacturing or commercializing any Product, then, unless otherwise determined by the Parties, Intec Pharma shall have the
sole right and option, but not the obligation, to address such Infringement by taking reasonable steps, which may include the institution
of legal proceedings or other action. All costs, including attorneys’ fees, relating to such legal proceedings or other action
shall be borne by Intec Pharma.

 

    	33

    	 

    

  

NOTE: PORTIONS OF THIS EXHIBIT ARE THE
SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”).
SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF
THE REDACTED LANGUAGE.

 

7.2.4       Third
Party Infringement of Biogen  Technology or Agreement “[***]” Technology. In the event of an Infringement
of Biogen Technology or Agreement “[***]” Technology, Biogen shall have the sole right and option, but
not the obligation, to address such Infringement by taking reasonable steps, which may include the institution of legal proceedings
or other action. All costs, including attorneys’ fees, relating to such legal proceedings or other action shall be borne
by Biogen.

 

7.2.5       Enforcement
Procedures.

 

(a)         No
Settlement. Neither Party shall settle any Infringement claim or proceeding under Section 7.2.2 (Third Party Infringement
of Joint Technology) or Section 7.2.3 (Third Party Infringement of Intec Pharma Technology) without the prior written consent
of the other Party, which consent shall not be unreasonably withheld, conditioned or delayed, provided that Intec Pharma
may settle any Infringement claim or proceeding instituted by Intec Pharma under Section 7.2.3 (Third Party Infringement of Intec
Pharma Technology) without the prior written consent of Biogen Idec unless either (a) such Infringement claim or proceeding is
against an infringer that is manufacturing or commercializing any Product or (b) the settlement would admit the invalidity or
unenforceability of any Intec Pharma Patent Right.

 

(b)         Right
to Representation. Each Party shall have the right to participate and be represented by counsel that it selects, in any legal
proceedings or other action instituted under Section 7.2.2 (Third Party Infringement of Joint Technology), Section 7.2.3(b)(i)
(Third Party Infringement of Intec Pharma Technology) or Section 7.2.4 (Third Party Infringement of Biogen Technology or Agreement
“[***]” Technology) (solely with respect to Third Party Infringement of Agreement “[***]”
Technology) by the other Party. If a Party with the right to initiate legal proceedings with respect to an Infringement under
Section 7.2.2 (Third Party Infringement of Joint Technology) or Section 7.2.3(b)(i) (Third Party Infringement of Intec Pharma
Technology) lacks standing to do so and the other Party has standing to initiate such legal proceedings, then the Party with the
right to initiate legal proceedings under Section 7.2.2 (Third Party Infringement of Joint Technology) or Section 7.2.3(b)(i)
(Third Party Infringement of Intec Pharma Technology) may name the other Party as plaintiff in such legal proceedings or may require
the other Party to initiate such legal proceedings at the expense of the Party with the right to initiate legal proceedings under
Section 7.2.2 (Third Party Infringement of Joint Technology) or Section 7.2.3(b) (i) (Third Party Infringement of Intec Pharma
Technology).

 

(c)         Allocation
of Proceeds. Any amounts recovered by either Party pursuant to actions under Section 7.2.2 (Third Party Infringement of Joint
Technology) or Section 7.2.3(b)(i) (Third Party Infringement of Intec Pharma Technology) with respect to an Infringement, whether
by settlement or judgment, shall first be used to reimburse each Party for its reasonable legal fees incurred in connection with
such action, including attorneys’ fees and disbursements, court costs and other litigation expenses (or, if such amounts
are insufficient to fully reimburse such legal fees, pro rata in proportion to such fees incurred by each Party); any of the remaining
amount that is based on sales of a product shall be treated as if it were Net Sales of Biogen, with Intec Pharma receiving a royalty
on such remaining amount pursuant to the terms of Section 4.5 (Payment of Royalties; Royalty Rate; Accounting and Records) and
the balance being retained by the Party bringing the action.

 

    	34

    	 

    

  

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

(d)         Cooperation.
In any action, suit or proceeding instituted under this Section 7.2, the Parties shall cooperate with and assist each other in
all reasonable respects. Upon the request of the Party instituting such action, suit or proceeding, the other Party shall join
such action, suit or proceeding and shall be represented using counsel of its own choice, at the requesting Party’s expense.

 

7.2.6         Defense
of Claims. In the event that any action, suit or proceeding is brought against either Party, or any Affiliate or sublicensee
of either Party, alleging infringement, unauthorized use or misappropriation of the Patent Rights or other intellectual property
of a Third Party by reason of the Pre-Commercialization Activities, Manufacture or Commercialization of any Collaboration Product
in the Field in the Territory, such Party shall notify the other Party within five (5) days of the earlier of (a) receipt of service
of process in such action, suit or proceeding; or (b) the date such Party becomes aware that such action, suit or proceeding has
been instituted, and the Parties shall meet as soon as possible to discuss the overall strategy for defense of such matter. Subject
to Article 10 (Indemnification and Insurance), each Party shall have the right to defend against actions brought against such Party.
The Party against whom no action was brought or any of its Affiliates shall have the right to appoint separate counsel at its own
expense in any such action, suit or proceeding, and the Parties shall cooperate with each other in all reasonable respects in any
such action, suit or proceeding. Each Party shall promptly furnish the other Party with a copy of each communication relating to
the alleged Infringement that is received by such Party, including all documents filed in any litigation. In no event shall either
Party settle or otherwise resolve any such action, suit or proceeding brought against the other Party or any of its Affiliates
or sublicensees without the other Party’s prior written consent. Notwithstanding the foregoing, if a Party seeks recovery
in respect of such action, suit or proceeding pursuant to Article 10 (Indemnification), then the terms of Section 10.3 (Conditions
to Indemnification) shall apply to the defense of such action, suit or proceeding.

 

8.         TERM
AND TERMINATION; ADDITIONAL OBLIGATIONS

 

8.1         Term.
This Agreement shall commence on the Effective Date and, unless earlier terminated pursuant to Section 8.2 (Termination), shall
continue in full force and effect until the expiration of the Royalty Term in all countries of the Territory (the “Term”);
provided, however, that the provisions of Article 3 (Commercial Period) shall not become effective until the
Option Exercise Date.

 

8.2         Termination.

 

8.2.1         Termination
During Research Period; Termination for Failure to Exercise Option. This Agreement shall terminate automatically as set forth
in Section 2.3.2(a) (Performance of the Research) if Biogen does not deliver a PART B Election Notice to Intec Pharma within the
time period set forth in Section 2.3.2(a) (Performance of the Research). Biogen shall have the right to immediately terminate
this Agreement as set forth in Section 2.3.2(b) (Performance of the Research) upon written notice to Intec Pharma for any Failure
of PART B Deliverables. This Agreement shall terminate automatically as set forth in Section 2.4.3 (Effect of Failure to Exercise
Option) if Biogen does not deliver an Option Exercise Notice to Intec Pharma within the Option Exercise Period.

 

    	35

    	 

    

  

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

8.2.2       Termination
by Biogen for Convenience. After the earlier of (a) receipt of the PART A Deliverables or (b) six (6) months  from
the Effective Date, Biogen may terminate this Agreement for any or for no reason by providing written notice to Intec Pharma not
less than sixty (60) days prior to the date of such termination.

 

8.2.3       Termination
for Cause. Except as set forth herein, either Party may terminate this Agreement, effective immediately upon written notice
to the other Party, for (a) any failure by the other Party to make any payment required hereunder that is not cured within forty-five
(45) days after the non-breaching Party first gives written notice to the other Party of such breach and its intent to terminate
this Agreement if such breach is not cured within such forty-five (45)-day period or (b) any material breach by the other Party
of any other term of this Agreement (including, without limitation, the terms of Section 9.4 (Exclusivity)) that remains uncured
ninety (90) days after the non-breaching Party first gives written notice to the other Party of such breach and its intent to
terminate this Agreement if such breach is not cured within such ninety (90)-day period; provided, however,
that in the event the other Party disputes the existence of such breach and initiates dispute resolution proceedings in accordance
with Section 11.2.3 (Dispute Resolution), then such forty five (45)-day or ninety (90)-day cure period, as applicable, shall be
tolled during pendency of such dispute resolution proceedings. Any act or omission by a Sublicensee with respect to activities
under this Agreement that would have constituted a material breach of Article 5 (Confidentiality; Publicity; Publication) or Article
6 (Intellectual Property Rights) of this Agreement by Biogen had it been the act or omission of Biogen, shall constitute a material
breach of this Agreement, subject to the cure, dispute and termination rights set forth in this Section 8.2.3 with respect to
material breach of this Agreement.

 

8.2.4       Termination
for Insolvency. In the event that Intec Pharma makes an assignment for the benefit of creditors, appoints or suffers appointment
of a receiver or trustee over all or substantially all of its property, files a petition under any bankruptcy or insolvency act
or has any such petition filed against it which is not discharged within sixty (60) days of the filing thereof (each, an “Insolvency
Event”), then Biogen may terminate this Agreement effective immediately upon written notice to Intec Pharma. In the
event of any termination by Biogen pursuant to this Section 8.2.4:

 

(a)         All
rights and licenses now or hereafter granted by Intec Pharma to Biogen under or pursuant to this Agreement, including, for the
avoidance of doubt, the licenses granted pursuant to Section 2.2.1 (License to Biogen) and Section 3.2.1 (Licenses to Biogen),
are, for all purposes of Section 365(n) of the Bankruptcy Code, licenses of rights to “intellectual property” as defined
in the Bankruptcy Code. Upon the occurrence of any Insolvency Event with respect to Intec Pharma, Intec Pharma agrees that Biogen,
as licensee of such rights under this Agreement, shall retain and may fully exercise all of its rights and elections under the
Bankruptcy Code. Intec Pharma shall, during the term of this Agreement, create and maintain current copies or, if not amenable
to copying, detailed descriptions or other appropriate embodiments, to the extent feasible, of all intellectual property licensed
under this Agreement. Each Party acknowledges and agrees that “embodiments” of intellectual property within the meaning
of Section 365(n) include, without limitation, laboratory notebooks, cell lines, product samples and inventory, research studies
and data, all Regulatory Filings and Regulatory Approvals and rights of reference therein, the Intec Pharma Technology, the Joint
Technology, the Agreement “[***]” Technology, and all information related to the Intec Pharma Technology, the
Joint Technology and the Agreement “[***]” Technology. If (i) a case under the Bankruptcy Code is commenced
by or against Intec Pharma, (ii) this Agreement is rejected as provided in the Bankruptcy Code, and (iii) Biogen elects to retain
its rights hereunder as provided in Section 365(n) of the Bankruptcy Code, Intec Pharma (in any capacity, including debtor-in-possession)
and its successors and assigns (including a trustee) shall:

 

    	36

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT ARE
THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION
(“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

(i)          provide
to Biogen all such intellectual property (including all embodiments thereof) held by Intec Pharma and such successors and assigns,
or otherwise available to them, immediately upon Biogen’s written request. Whenever Intec Pharma or any of its successors
or assigns provides to Biogen any of the intellectual property licensed hereunder (or any embodiment thereof) pursuant to this
Section 8.2.4(a)(i), Biogen shall have the right to perform Intec Pharma’s obligations hereunder with respect to such intellectual
property, but neither such provision nor such performance by Biogen shall release Intec Pharma from liability resulting from rejection
of the license or the failure to perform such obligations; and

 

(ii)         not
interfere with Biogen’s rights under this Agreement, or any agreement supplemental hereto, to such intellectual property
(including such embodiments), including any right to obtain such intellectual property (or such embodiments) from another entity,
to the extent provided in Section 365(n) of the Bankruptcy Code.

 

(b)          All
rights, powers and remedies of Biogen provided herein are in addition to and not in substitution for any and all other rights,
powers and remedies now or hereafter existing at law or in equity (including the Bankruptcy Code) in the event of the commencement
of a case under the Bankruptcy Code with respect to Intec Pharma. The Parties agree that they intend the following rights to extend
to the maximum extent permitted by law, and to be enforceable under Bankruptcy Code Section 365(n):

 

(i)          the
right of access to any intellectual property (including all embodiments thereof) of Intec Pharma, or any Third Party with whom
Intec Pharma contracts to perform an obligation of Intec Pharma under this Agreement, and, in the case of any such Third Party,
which is necessary for the Manufacture, use, sale, import or export of Products; and

 

(ii)         the
right to contract directly with any Third Party to complete the contracted work.

 

    	37

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT ARE
THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION
(“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE
MARKED WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

8.3         Consequences
of Termination.

 

8.3.1      Termination
During Research Period; Termination for Failure to Exercise Option. Without limiting any other legal or equitable remedies
that either Party may have, if this Agreement is terminated pursuant to Section 8.2.1 (Termination During Research Period; Termination
for Failure to Exercise Option), then (a) each Party hereby grants to the other Party a non-exclusive, royalty-free, fully paid,
perpetual, irrevocable, worldwide license, with the right to grant sublicenses through multiple tiers, under the Joint Technology
to research, develop, manufacture, formulate, test, supply, offer for sale, sell or commercialize any product, subject to the provisions
of Section 9.4 (Exclusivity) and (b) each Party shall promptly return or destroy all Confidential Information of the other Party
in such Party or its Affiliates’ possession.

 

8.3.2      Termination
by Biogen for Convenience; Termination for Cause. Without limiting any other legal or equitable remedies that either Party
may have, if this Agreement is terminated by Biogen pursuant to Section 8.2.2 (Termination by Biogen for Convenience) or
by either Party pursuant to Section 8.2.3 (Termination for Cause), then:

 

(a)          all
license grants in this Agreement from either Party to the other shall immediately terminate, except for those licenses that have
become perpetual licenses on or prior to the date of such termination in accordance with Section 4.5.1(e) (Fully Paid-Up, Royalty-Free
License);

 

(b)          each
Party shall promptly return or destroy all Confidential Information of the other Party in such Party or its Affiliates’ possession;

 

(c)          each
Party shall promptly pay any amounts owed to the other Party as of the effective date of such termination; and

 

(d)          solely
in the event that this Agreement is terminated by Biogen pursuant to Section 8.2.3 (Termination for Cause) or Section 8.2.4 (Termination
for Insolvency), Intec Pharma hereby grants to Biogen a non-exclusive, royalty-bearing, perpetual, irrevocable, worldwide license,
with the right to grant sublicenses through multiple tiers, under the Intec Pharma Technology and Intec Pharma’s interest
in the Joint Technology to conduct Pre-Commercialization Activities for, Manufacture and Commercialize any Product. The consideration
payable to Intec Pharma on account of such non-exclusive license shall be 100% of the consideration payable under Article 4 (Payments)
in the event that this Agreement is terminated by Biogen pursuant to Section 8.2.4 (Termination for Insolvency), and 50% of the
consideration payable under Article 4 (Payments) in the event that this Agreement is terminated by Biogen pursuant to Section
8.2.3 (Termination for Cause).

 

(e)          solely
in the event that this Agreement is terminated by Biogen pursuant to Section 8.2.2 (Termination by Biogen for Convenience), Biogen
hereby grants to the Intec Pharma a non-exclusive, royalty-free, fully paid, perpetual, irrevocable, worldwide license, with the
right to grant sublicenses through multiple tiers, under the Joint Technology to research, develop, manufacture, formulate, test,
supply, offer for sale, sell or commercialize any product, subject to the provisions of Section 9.4 (Exclusivity).

 

    	38

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT
ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE
MARKED WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

  

(f)          solely
in the event that this Agreement is terminated by Intec Pharma pursuant to Section 8.2.3 (Termination for Cause), Biogen hereby
grants to Intec Pharma a non-exclusive, royalty-free, fully paid, perpetual, irrevocable, worldwide license, with the right to
grant sublicenses through multiple tiers, under the Joint Technology to research, develop, manufacture, formulate, test, supply,
offer for sale, sell or commercialize any product subject to the provisions of Section 9.4 (Exclusivity).

 

8.3.3      Termination
by Biogen during the Research Period. Without limitation of any of the foregoing, if Biogen terminates this Agreement
after completion of PART A of the Research Plan, but prior to completion of PART B of the Research Plan for any reason other than
for cause in accordance with Section 8.2.3 (Termination for Cause), then, Biogen shall reimburse all reasonable out-of-pocket
costs incurred (including non-cancellable obligations) by Intec Pharma in performance of PART B of the Research Plan through the
date that Biogen notifies Intec Pharma of its intent to terminate this Agreement, provided, however, that Biogen
shall have no obligation to reimburse Intec Pharma for any such out-of-pocket costs that exceed $“[***]”.

 

8.3.4      Survival
of Sublicenses. In the event of termination of the license granted to Biogen hereunder for any reason, any existing Sublicensee
of Biogen that is not then in material breach of its sublicense agreement shall be able to retain its license and become a direct
licensee of Intec Pharma of the same scope in any such sublicense, if such Sublicensee provides to Intec Pharma written acknowledgment
of its acceptance of the following terms: (a) Intec Pharma’s obligations to such Sublicensee shall be no greater than Intec
Pharma’s obligations to Biogen under this Agreement and (b) such Sublicensee shall pay to Intec Pharma the higher of: (i)
any consideration it would have paid to Biogen under the sublicense agreement entered into by Biogen and such Sublicensee, or
(ii) the consideration payable by Biogen to Intec Pharma hereunder.

 

8.4         Surviving
Provisions. Termination or expiration of this Agreement for any reason shall be without prejudice to:

 

(a)          survival
of rights specifically stated in this Agreement to survive, including as set forth in this Section 8.4;

 

 

    	39

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT ARE
THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION
(“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE
MARKED WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

(b)          the
rights and obligations of the Parties provided in Article 1 (Definitions), Section 2.2.3 (Retained Rights), Section 2.6 (Sublicenses)
(solely with respect to the survival of any sublicense agreements), Section 3.2.3 (Retained Rights), Section 3.5 (No Implied Obligations),
Section 4.5.1(e) (Fully Paid-Up, Royalty-Free License) (solely to the extent that Biogen has already been granted a perpetual
license thereunder), Section 4.5.2 (Records; Audit Rights), Section 4.5.3 (Late Payments) through Section 4.5.6 (Blocked Currency)
(in each case, solely with respect to any payments due and payable as of the effective date of termination), Article 5 (Confidentiality;
Publicity; Publication), Section 6.1 (Intec Pharma Technology) through Section 6.4 (Agreement “[***]” Technology),
Section 6.6 (No Other Rights), Article 7 (Filing, Prosecution and Maintenance of Patent Rights), Section 8.2.4 (Termination for
Insolvency) (if applicable), Section 8.3 (Consequences of Termination), this Section 8.4 (Surviving Provisions), Section 9.4 (Exclusivity),
Section 10.1 (Indemnification by Biogen) through Section 10.3 (Conditions to Indemnification) (in each case, solely as to activities
arising during the Term or as to any activities conducted in the course of a Party’s exercise of a license surviving the
Term), Section 10.4 (Warranty Disclaimer), Section 10.5 (Limited Liability), Section 10.6 (Insurance) and Article 11 (Miscellaneous),
including all other Sections or Articles referenced in any such Section or Article, all of which shall survive such termination
except as provided in this Article 8; or

 

(c)          any
other rights or remedies provided at law or in equity which either Party may otherwise have.

 

9.          REPRESENTATIONS
AND WARRANTIES; COVENANTS

 

9.1         Mutual
Representations and Warranties. Biogen and Intec Pharma each represents and warrants to the other, as of the Effective Date,
as follows:

 

9.1.1    Organization.
It is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization,
and has all requisite power and authority, corporate or otherwise, to execute, deliver and perform this Agreement.

 

9.1.2    Authorization.
The execution and delivery of this Agreement and the performance by it of the transactions contemplated hereby have been duly authorized
by all necessary corporate action and will not violate (a) such Party’s certificate of incorporation or bylaws; (b) any agreement,
instrument or contractual obligation to which such Party is bound in any material respect; (c) any requirement of any Applicable
Law; or (d) any order, writ, judgment, injunction, decree, determination or award of any court or governmental agency presently
in effect applicable to such Party.

 

9.1.3    Binding
Agreement. This Agreement is a legal, valid and binding obligation of such Party enforceable against it in accordance with
its terms and conditions.

 

9.1.4    No
Inconsistent Obligation. It is not under any obligation, contractual or otherwise, to any Person that conflicts with or is
inconsistent in any respect with the terms of this Agreement or that would impede the diligent and complete fulfillment of its
obligations hereunder.

 

9.2         Additional
Representations, Warranties and Covenants of Intec Pharma. Intec Pharma further represents, warrants and covenants to Biogen,
as of the Effective Date, as follows:

 

9.2.1    Intec
Pharma is the sole and exclusive owner of, or has a valid right to use, the Intec Pharma Technology in existence on the Effective
Date;

 

    	40

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT ARE
THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION
(“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE
MARKED WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

9.2.2    to
Intec Pharma’s knowledge, the Intec Pharma Patent Rights that are necessary to conduct Pre-Commercialization Activities for,
Manufacture and Commercialize the Collaboration Products in the Territory are existing, valid and enforceable;

 

9.2.3    the
list of inventors of each Intec Pharma Patent Right specified in the applicable patent or patent application is true, correct and
complete;

 

9.2.4    there
are no claims, judgments or settlements against Intec Pharma pending or, to Intec Pharma’s knowledge, threatened that invalidate
or seek to invalidate the Intec Pharma Patent Rights;

 

9.2.5    to
Intec Pharma’s knowledge, no claim or litigation has been brought or threatened by any Third Party alleging, and Intec Pharma
is not aware of any reasonable basis for a claim alleging that the Intec Pharma Patent Rights are invalid or unenforceable;

 

9.2.6    Intec
Pharma has not previously assigned, transferred, conveyed or otherwise encumbered its right, title and interest in the Intec Pharma
Technology in any manner inconsistent with the terms of this Agreement;

 

9.2.7    Intec
Pharma has not previously used the Intec Pharma Technology to formulate any Product;

 

9.2.8    there
are no complaints filed in court or, to Intec Pharma’s knowledge, otherwise threatened, in each case pending relating to
the Intec Pharma Technology which, if decided in a manner adverse to Intec Pharma, would materially affect Intec Pharma’s
ability to practice the Intec Pharma Technology as contemplated by this Agreement;

 

9.2.9    there
are no judgments or settlements, or pending settlement discussions, involving Intec Pharma or its Affiliate or to which they are
a party, which would materially affect Intec Pharma’s ability to practice the Intec Pharma Technology as contemplated by
this Agreement;

 

9.2.10   to
Intec Pharma’s knowledge, the conception, development and reduction to practice of the Intec Pharma Technology used by Intec
Pharma to formulate pharmaceutical products, as it exists on the Effective Date, have not constituted or involved misappropriation
of Third Party Know-How;

 

9.2.11   to
Intec Pharma’s knowledge without conducting a freedom to operate search, the Intec Pharma Technology used by Intec Pharma
to formulate pharmaceutical products, as practiced by Intec Pharma on the Effective Date, does not infringe any Third Party Patent
Rights;

 

9.2.12   Intec
Pharma has obtained from all inventors of Intec Pharma Technology owned or purported to be owned by Intec Pharma (“Intec
Pharma-Owned Technology”) valid and enforceable agreements assigning to Intec Pharma each such inventor’s entire
right, title and

 

    	41

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT ARE
THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION
(“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE
MARKED WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

interest in and to all such Intec Pharma-Owned
Technology expressly waiving any rights such inventors may have had to compensation or royalties in respect of any inventions
arising as consequence of service to Intec Pharma, including but not limited to service inventions under Section 134 of the Israeli
Patents Law. Intec Pharma covenants that it shall obtain valid and enforceable agreements and waivers as set forth in this Section
9.2.12 from all Persons involved in any activities hereunder that may lead to the creation or development of any Intec Pharma-Owned
Technology, Joint Technology or Agreement “[***]” Technology (other than Persons acting on behalf of Biogen).
Intec Pharma shall be responsible for and shall pay any and all compensation or royalties owed to Persons in respect of any inventions
arising as consequence of service to Intec Pharma, including but not limited to service inventions under Section 134 of the Israeli
Patents Law;

 

9.2.13    no
funding, facilities, assets or resources of any government or government-affiliated entity or any university, college, hospital,
other educational institution or research center or Third Parties was used or will be used in the development of any Intec Pharma-Owned
Technology, Joint Technology or Agreement “[***]” Technology, in a manner that would contradict, limit or otherwise
adversely affect the rights granted to Biogen hereunder or provide basis for third party claims against Biogen. No current or
former employee, consultant or independent contractor of Intec Pharma that was or will be involved in, or that contributed to
or will contribute to, the creation or development of any Intec Pharma-Owned Technology, or that will be involved in any activities
hereunder that may lead to the creation or development of any Joint Technology or Agreement “[***]” Technology,
has performed or will perform services for a government, university, college, hospital or other educational institution or research
center concurrently with such employee’s, consultant’s or independent contractor’s performance of services for
Intec Pharma, in a manner that would contradict, limit or otherwise adversely affect the rights granted to Biogen hereunder or
provide basis for third party claims against Biogen. Intec Pharma covenants that it shall not use any funding, facilities, assets
or resources of any government or government-affiliated entity, university, college, hospital, other educational institution or
research center or Third Parties in connection with activities hereunder; and

 

9.2.14    neither
Intec Pharma nor any of its Affiliates or personnel has been debarred or is subject to conviction by the FDA pursuant to Section
306 of the FD&C Act (or subject to a similar sanction of any other Regulatory Authority). Intec Pharma shall not use, in any
capacity in connection with the performance of its obligations under this Agreement, any Person that has been debarred pursuant
to Section 306 of the FD&C Act, or that is the subject of a conviction described in such section. Intec Pharma agrees to inform
Biogen in writing immediately if it or if it becomes aware that any Person that is performing activities pursuant to this Agreement
is debarred or is subject to debarment or is the subject of a conviction described in Section 306, or if any action, suit, claim,
investigation or legal or administrative proceeding is pending or, to the best of the Intec Pharma’s knowledge, is threatened,
relating to the debarment or conviction of Intec Pharma or any Person or entity used in any capacity by Intec Pharma or any of
its Affiliates in connection with the performance of its obligations under this Agreement.

 

    	42

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT ARE
THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION
(“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE
MARKED WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

9.2.15    Intec
Pharma and its Affiliates shall, and shall cause its Affiliates and its subcontractors and distributors to, in all respects
comply with all Applicable Law in the course of performing obligations under this Agreement, including to the extent
applicable, the Foreign Corrupt Practices Act of 1977, as amended (“FCPA”) and the UK Bribery Act 2010,
Chapter 23, as amended (“UK Bribery Act”); the FD&C Act; the Public Health Service Act, as amended;
the Prescription Drug Marketing Act of 1987, as amended; Federal Health Care Program Anti-Kickback Law (42 U.S.C.
§§ 1320a-7b), as amended; the Health Insurance Portability and Accountability Act of 1996, as amended; the FDA
Guidance for Industry-Supported Scientific and Educational Activities; and all federal, state and local “fraud and
abuse,” consumer protection and false claims statutes and regulations, including the Medicare and State Health Programs
Anti-Fraud and Abuse Amendments of the Social Security Act and the “Safe Harbor Regulations” found at 42 C.F.R.
§1001.952 et seq.; the Office of the Inspector General’s Compliance Guidance Program, the Pharmaceutical Research
and Manufacturers of America Code on Interactions with Healthcare Professionals, as hereafter amended from time to time; the
standards set forth by the Accreditation Council for Continuing Medical Education relating to educating the medical community
in the Territory; 42 U.S.C. 1320a-7h and its implementing regulations (also known as the National Physician Payment
Transparency Program and the Open Payments Program) (“Sunshine Act”); and all foreign equivalents in the
Territory of any of the foregoing; provided that with respect to the Sunshine Act, each Party shall be responsible for
reporting relating to payments or other transfers of value actually made by such Party, and each Party shall use commercially
reasonable efforts to cooperate with the other Party to coordinate such disclosure. Intec Pharma and its Affiliates shall
promptly notify Biogen in writing with respect to any material non-compliance with any Applicable Law relating to this
Agreement or its obligations hereunder.

 

9.3         Limitation
on Representations and Warranties of Intec Pharma. Other than as expressly set forth in Section 9.2 (Additional Representations
and Covenants of Intec Pharma), Intec Pharma makes no representation or warranty that the use of the Intec Pharma Technology as
contemplated herein, or that making, having made, using, selling or importing of any Collaboration Product will not infringe any
patent or other proprietary right of any Third Party.

 

9.4         Exclusivity.
During the period beginning on the Effective Date and ending on (a) if Biogen does not exercise the Option, the date that is “[***]”
after the end of the Option Exercise Period; or (b) if Biogen exercises the Option, the later of (i) the “[***]”
or (ii) the last day of the Term, Intec Pharma and its Affiliates shall not, directly or indirectly, and shall not collaborate
with, license or otherwise authorize any Third Party to, research, develop, manufacture, formulate, test, supply, offer for sale,
sell or commercialize any Product in the Exclusivity Field. If Intec Pharma breaches this Section 9.4, then, in addition to any
other remedies available in equity or at law, Intec Pharma shall assign, and hereby does assign, to Biogen, any and all Know-How,
including all pre-clinical and clinical data and regulatory filings, and Patent Rights that are developed, conceived or Invented
by Intec Pharma, any Third Party or any Affiliate of Intec Pharma or Third Party, in the course of performing the activities that
constitute a breach of this Section 9.4, and Intec Pharma shall execute assignment

 

    	43

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT ARE
THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION
(“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE
MARKED WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

documents and other documents necessary
to perfect any and all of Biogen’s rights, title and interests in and to such Intec Pharma Technology.

 

10.         INDEMNIFICATION
AND INSURANCE

 

10.1       Indemnification
by Biogen. Biogen shall indemnify, defend and hold harmless Intec Pharma, its Affiliates, their respective directors,
officers, employees and agents, and their respective successors, heirs and assigns (collectively, the “Intec Pharma Indemnitees”),
from and against all costs, fees, damage, loss, liability, expense or judgment (including attorneys’ fees and expenses of
litigation if assessed against the indemnified Party by a court of competent jurisdiction) (collectively “Losses”)
incurred by or imposed upon the Intec Pharma Indemnitees, or any of them, as a direct result of any claim, demand or action brought
by a Third Party (collectively, a “Claim”) arising out of or resulting from, directly or indirectly, (a) any
material breach of, or inaccuracy in, any representation or warranty made by Biogen in this Agreement, or any breach or
violation of any covenant or agreement of Biogen, its Affiliates or permitted Sublicensees in or pursuant to this Agreement or
any permitted sublicense; (b) the Pre-Commercialization Activities, Manufacture or Commercialization by Biogen or any of
its Affiliates, Sublicensees, distributors or agents of any Collaboration Product; (c) the gross negligence or willful misconduct
by or of Biogen, its Affiliates, and their respective directors, officers, employees and agents, except: (i) with respect to any
Claim or Losses that result from a breach of this Agreement by, or the gross negligence or willful misconduct of, Intec Pharma
Indemnitees, or (ii) with respect to Losses or Claims attributable to bodily injuries that have been determined to result solely
from the Accordion Pill System contained in any Collaboration Product.

 

10.2       Indemnification
by Intec Pharma. Intec Pharma shall indemnify, hold harmless, and defend Biogen, its Affiliates and their respective directors,
officers, employees and agents, and their respective successors, heirs and assigns (collectively, the “Biogen Indemnitees”)
from and against any and all Losses arising out of or resulting from, directly or indirectly, (a) any material breach of, or inaccuracy
in, any representation or warranty made by Intec Pharma in this Agreement, or any breach or violation of any covenant or agreement
of Intec Pharma in or pursuant to this Agreement; (b) the Pre-Commercialization Activities or Manufacture by Intec Pharma or any
of its Affiliates, sublicensees, distributors or agents of any Collaboration Product; or (c) the gross negligence or willful misconduct
by or of Intec Pharma, its Affiliates, and their respective directors, officers, employees and agents, except: (i) with respect
to any Claim or Losses that result from a breach of this Agreement by, or the gross negligence or willful misconduct of, Biogen
Indemnitees, or (ii) with respect to Losses or Claims attributable to bodily injuries that have been determined to result solely
from components other than the Accordion Pill System contained in any Collaboration Product.

 

10.3       Conditions
to Indemnification. A Person seeking recovery under this Article 10 (the “Indemnified Party”) in
respect of a Claim shall give prompt notice of such Claim to the other Party (the “Indemnifying Party”)
and, provided that the Indemnifying Party is not contesting its obligation under this Article 10, shall permit the
Indemnifying Party to control any litigation relating to such Claim and the disposition of such Claim, provided that
the Indemnifying Party shall (a) act reasonably and in good faith with respect to all matters relating to the settlement or
disposition of such Claim as the settlement or disposition relates to such Indemnified Party and (b) not settle or otherwise
resolve such Claim without the prior written consent of such Indemnified Party (which consent shall not be unreasonably
withheld, conditioned or delayed). Each Indemnified Party shall cooperate with the Indemnifying Party in its defense of any
such Claim in all reasonable respects and shall have the right to be present in person or through counsel at all legal
proceedings with respect to such Claim.

 

    	44

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT ARE
THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION
(“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE
MARKED WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

10.4       Warranty
Disclaimer. EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THIS AGREEMENT, NEITHER PARTY MAKES ANY WARRANTY WITH RESPECT TO ANY
TECHNOLOGY, GOODS, SERVICES, RIGHTS OR OTHER SUBJECT MATTER OF THIS AGREEMENT AND EACH PARTY HEREBY DISCLAIMS ALL WARRANTIES, EXPRESS
OR IMPLIED, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT.
NOTHING CONTAINED IN THIS AGREEMENT SHALL BE CONSTRUED AS A WARRANTY, EITHER EXPRESS OR IMPLIED, ON THE PART OF EITHER PARTY THAT
(A) THE PRE-COMMERCIALIZATION ACTIVITIES WILL YIELD A COLLABORATION PRODUCT OR OTHERWISE BE SUCCESSFUL OR MEET ITS GOALS, TIME
LINES OR BUDGETS, OR (B) THE OUTCOME OF THE PRE-COMMERCIALIZATION ACTIVITIES WILL BE COMMERCIALLY EXPLOITABLE IN ANY RESPECT.

 

10.5       Limited Liability.

 

(a)          NOTWITHSTANDING
ANYTHING TO THE CONTRARY IN THIS AGREEMENT, NEITHER PARTY SHALL BE LIABLE TO THE OTHER PARTY OR ANY OF ITS AFFILIATES FOR (I)
ANY SPECIAL, PUNITIVE, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES, INCLUDING, WITHOUT LIMITATION, LOST PROFITS OR LOST REVENUES,
OR (II) COST OF PROCUREMENT OF SUBSTITUTE GOODS, TECHNOLOGY OR SERVICES, WHETHER UNDER ANY CONTRACT, WARRANTY, NEGLIGENCE, STRICT
LIABILITY OR OTHER LEGAL OR EQUITABLE THEORY), IN EACH CASE (I) AND (II), EXCEPT AS A RESULT OF SUCH PARTY’S BREACH OF ARTICLE
5 (CONFIDENTIALITY; PUBLICITY; PUBLICATION), OR, IN THE CASE OF INTEC PHARMA AS THE BREACHING PARTY, SECTION 9.4 (EXCLUSIVITY)
OR THE REPRESENTATIONS AND WARRANTIES SET FORTH IN SECTION 9.2.13. FOR CLARITY, NOTHING IN THIS SECTION 10.5(a) IS INTENDED TO
LIMIT OR RESTRICT EITHER PARTY’S INDEMNIFICATION OBLIGATIONS, WITH RESPECT TO THIRD PARTY CLAIMS ONLY, AS SET FORTH IN SECTION
10.1 (INDEMNIFICATION BY BIOGEN) OR SECTION 10.2 (INDEMNIFICATION BY INTEC PHARMA).

 

(b)          NOTWITHSTANDING
ANYTHING TO THE CONTRARY, EXCEPT WITH RESPECT TO THE INTENTIONAL MISCONDUCT OR FRAUD OF INTEC PHARMA INDEMNITEES,
INTEC PHARMA’S LIABILITY FOR DIRECT DAMAGES TO BIOGEN SHALL NOT EXCEED THE AGGREGATE AMOUNTS RECEIVED BY INTEC PHARMA
UNDER THIS AGREEMENT. FOR CLARITY, NOTHING IN THIS SECTION 10.5(b) IS INTENDED TO LIMIT OR RESTRICT INTEC PHARMA’S
INDEMNIFICATION OBLIGATIONS, WITH RESPECT TO THIRD PARTY CLAIMS ONLY, AS SET FORTH IN SECTION 10.2 (INDEMNIFICATION BY INTEC
PHARMA).

 

    	45

    	 

    

  

NOTE: PORTIONS OF THIS EXHIBIT ARE
THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION
(“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE
MARKED WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

10.6     Insurance.
Without derogating from Biogen’s liability under this Agreement or under Applicable Law, Biogen shall, at its own expense,
maintain insurance policies (including but not limited to, Clinical Trials Insurance, Comprehensive General liability including
Product liability insurance) that is reasonably adequate to fulfill any potential obligation to Intec Pharma consistent with industry
standards, during the period that any Product is being tested in clinical trials prior to commercial sale and during the period
that any Product is being commercially distributed or sold. Such insurance shall be in reasonable amounts and on reasonable terms
in the circumstances, having regard, in particular, to the nature of the Products, and shall be subscribed for from a reputable
insurance company. Such insurance policies shall include Intec Pharma as an additional insured during the Term. Biogen will be
obliged to notify Intec Pharma in writing at least thirty (30) days in advance of the expiry or cancellation of the policy or
policies. Biogen hereby undertakes to comply with all obligations imposed upon it under such policies and in particular, without
limiting the generality of the foregoing, to pay in full and punctually all premiums and other payments for which it is liable
pursuant to such policy or policies. Upon Intec Pharma’s request, Biogen shall provide Intec Pharma with written evidence
of such insurances. Biogen shall maintain, at its own expense, liability insurances as set forth in this section, beyond the expiration
or termination of this Agreement as long as a Collaboration Product is being commercially distributed or sold by Biogen, its Affiliates
or Sublicensees, and thereafter as required by Applicable Law. To avoid any doubt, only Biogen will bear all deductibles
and premiums for such policies. Notwithstanding anything to the contrary, Biogen may self-insure to the extent that it self-insures
for other products to satisfy all or a portion of its obligations under this Section 10.6.

 

11.      MISCELLANEOUS

 

11.1       Notices.
  All notices and communications shall be in writing and delivered personally or by internationally-recognized overnight
express courier providing evidence of delivery or mailed via certified mail, return receipt requested, addressed as follows, or
to such other address as may be designated from time to time:

 

	If to Intec Pharma:	Intec Pharma Ltd.
	 	12 Hartom St., P.O.B 45219, Jerusalem 91450
	 	ISRAEL
	 	Tel: 972-2-586-4657
	 	Fax: 972-2-586-9176
	 	Attention: Mr. Zeev Weiss, CEO

 

    	46

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT ARE
THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION
(“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE
MARKED WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

	With a copy to (which will not constitute notice):	
        Horn & Co. Law Offices

        Amot Investments Tower, 2 Weizmann St., 24th Floor

        Tel-Aviv 6423902

        ISRAEL

        Tel: 972-3-6378200

        Fax: 972-3-6378201

        Attention: Adv. Yuval Horn

 

	If
    to Biogen:	Biogen MA Inc.
	 	14 Cambridge
    Center

    Cambridge MA
    02142
	 	USA
	 	Attention: “[***]”
	 	 
	With copies to:	Biogen Inc.

        225 Binney Street

        Cambridge, MA 02142

        USA

        Attention: “[***]”

        

        

	 	 
	 	and
	 	 
	 	Ropes & Gray LLP 
	 	Prudential Tower 
	 	800 Boylston Street 
	 	Boston, MA 02199-3600
	 	USA
	 	Attention: Marc Rubenstein
	 	Tel: (617) 951-7826 
	 	Fax: (617) 235-0706

 

Except as otherwise expressly provided
in this Agreement or mutually agreed in writing, any notice, communication or document (excluding payment) required to be given
or made shall be deemed given or made and effective upon actual receipt or, if earlier, (a) three (3) Business Days after deposit
with an internationally-recognized overnight express courier with charges prepaid; or (b) five (5) Business Days after mailed by
certified, registered or regular mail, postage prepaid, in each case addressed to a Party at its address stated above or to such
other address as such Party may designate by written notice given in accordance with this Section 11.1.

 

11.2      Governing Law; Jurisdiction;
Dispute Resolution.

 

11.2.1    Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard
to the application of principles of conflicts of law.

 

11.2.2    Jurisdiction.
Subject to Section 11.2.3 (Dispute Resolution), each Party (a) irrevocably submits to the exclusive jurisdiction of the federal
and state courts of the State of New York, with respect to actions or proceedings arising in whole or in part out of, related
to, based upon or in connection with this Agreement
or the subject matter hereof; (b) agrees that all claims in respect of such actions or proceedings may be heard and determined
only in any such court; and (c) agrees not to bring any action or proceeding arising out of or relating to this Agreement in any
other court. Each Party waives any defense of inconvenient forum to the maintenance of any action or proceeding so brought and
waives any bond, surety or other security that might be required of the other Party with respect thereto.

 

    	47

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT ARE
THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION
(“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE
MARKED WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

11.2.3    Dispute
Resolution. In the event of a dispute arising out of or relating to this Agreement, either Party shall provide written notice
of the dispute to the other Party, in which event the dispute shall be referred to the executive officers designated below or
their successors, for attempted resolution by good faith negotiations within thirty (30) days after such notice is received. Said
designated officers are initially as follows:

 

	For Intec Pharma:	Mr. Zeev Weiss, CEO (or Intec Pharma’s
	 	designee)
	 	 
	For Biogen:	“[***]”
	 	 
	 	or his/her designee

 

In the event the designated executive officers
do not resolve such dispute within the allotted thirty (30) days, either Party may, after the expiration of the thirty (30) day
period, seek to resolve the dispute through the courts in accordance with Section 11.2.2 (Jurisdiction).

 

11.3       Binding
Effect; Non-Exclusive Remedies. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective
legal representatives, successors and permitted assigns. Except as otherwise explicitly set forth herein, all rights, powers and
remedies of each Party provided herein are in addition to and not in substitution for any and all other rights, powers and remedies
now or hereafter existing at law or in equity.

 

11.4       Headings.
Section and subsection headings are inserted for convenience of reference only and do not form a part of this Agreement.

 

11.5       Counterparts.
This Agreement may be executed simultaneously in two or more counterparts, each of which shall be deemed an original and both of
which, together, shall constitute a single agreement. An executed signature page of this Agreement delivered by facsimile transmission
shall be as effective as an original executed signature page.

 

11.6       Amendment;
Waiver. This Agreement may be amended, modified, superseded or canceled, and any of the terms of this Agreement may be waived,
only by a written instrument executed by each Party or, in the case of waiver, by the Party or Parties waiving compliance. The
delay or failure of either Party at any time or times to require performance of any provisions shall in no manner affect the rights
at a later time to enforce the same. No waiver by either Party of any condition or of the breach of any term contained in this
Agreement, whether by conduct, or otherwise, in any one or more instances, shall be deemed to be, or considered as, a further
or continuing waiver of any such condition or of the breach of such term or any other term of this Agreement.

 

    	48

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT ARE
THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION
(“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE
MARKED WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

11.7       No
Third Party Beneficiaries.  Except as set forth in Sections 10.1 (Indemnification by Biogen) and 10.2 (Indemnification
by Intec Pharma), no Third Party (including employees of either Party) shall have or acquire any rights by reason of this Agreement.

 

11.8       Purposes
and Scope. Nothing in this Agreement shall be construed (a) to create or imply a general partnership between the Parties; (b)
to make either Party the agent of the other for any purpose; (c) to alter, amend, supersede or vitiate any other arrangements between
the Parties with respect to any subject matters not covered hereunder; (d) to give either Party the right to bind the other; (e)
to create any duties or obligations between the Parties except as expressly set forth herein; or (f) to grant any direct or implied
licenses or any other right other than as expressly set forth herein.

 

11.9       Assignment
and Successors. Neither this Agreement nor any obligation of a Party hereunder may be assigned by either Party without the
consent of the other which shall not be unreasonably withheld, except that each Party may assign this Agreement and the rights,
obligations and interests of such Party, without the consent of the other Party, (i) in whole or in part, to any of its Affiliates,
or (ii) in whole, but not in part, to any purchaser of all of its assets or all of its assets to which this Agreement relates or
shares representing a majority of its common stock voting rights or to any successor corporation resulting from any merger, consolidation,
share exchange or other similar transaction.

 

11.10     Force
Majeure. Neither Intec Pharma nor Biogen shall be liable for failure of or delay in performing obligations set forth in this
Agreement, and neither shall be deemed in breach of its obligations, if such failure or delay is due to a Force Majeure. In event
of such Force Majeure, the Party affected shall use reasonable efforts to cure or overcome the same and resume performance of
its obligations hereunder.

 

11.11     Interpretation.
The Parties hereto acknowledge and agree that: (a) each Party and its counsel reviewed and negotiated the terms and provisions
of this Agreement and have contributed to its revision; (b) the rule of construction to the effect that any ambiguities are resolved
against the drafting Party shall not be employed in the interpretation of this Agreement; and (c) the terms and provisions of
this Agreement shall be construed fairly as to each Party and not in a favor of or against either Party, regardless of which Party
was generally responsible for the preparation of this Agreement. In addition, unless a context otherwise requires, wherever used,
(i) the singular shall include the plural, the plural the singular; (ii) the use of any gender shall be applicable to all genders;
(iii) the word “or” is used in the inclusive sense (and/or); (iv) the word “including” is used without
limitation and shall mean “including without limitation”; (v) all amounts set forth in this Agreement are expressed
in United States Dollars; and (vi) the terms “Biogen” and “Intec Pharma” shall be deemed to include such Party’s
respective current and future Affiliates.

 

    	49

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT ARE
THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION
(“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE
MARKED WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

11.12     Integration;
Severability. This Agreement sets forth the entire agreement with respect to the subject matter hereof and supersedes all other
agreements and understandings between the Parties with respect to such subject matter. If any provision of this Agreement is or
becomes invalid or illegal or is ruled invalid or illegal by any court of competent jurisdiction or is deemed unenforceable, it
is the intention of the Parties that (a) the remainder of the Agreement shall not be affected and (b) the Parties shall substitute,
by mutual agreement in good faith, valid provisions for such invalid, illegal or unenforceable provisions, which valid provisions
accomplish, as nearly as possible, the original intention of the Parties with respect thereto.

 

11.13     Further
Assurances. Each of Biogen and Intec Pharma agrees to 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, without limitation, the filing of
such additional assignments, agreements, documents and instruments, as the other Party may at any time and from time to time reasonably
request in connection with this Agreement or to carry out more effectively the provisions and purposes of, or to better assure
and confirm unto such other Party its rights and remedies under, this Agreement.

 

[Remainder of page intentionally left
blank.]

 

    	50

    	 

    

 

NOTE: PORTIONS OF THIS EXHIBIT ARE
THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION
(“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE
MARKED WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

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

 

	 	 	INTEC PHARMA LTD.
	 	 	 	 
	 	 	By: 	/s/ Zeev Weiss
	 	 	 	 
	 	 	Name:	Zeev Weiss
	 	 	 	 
	 	 	Title:	CEO

 

	 	BIOGEN MA INC.  

  

	 	 	By: 	[***]
	 	 	 	 
	 	 	Name:	[***]
	 	 	 	 
	 	 	Title:	[***]

 

[Signature page to Research, Option
and License Agreement]

 

    	 

    	 

    

 

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

Exhibit A

 

Research
Plan

 

“[***]”

 

    	 

    	 

    

 

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

Exhibit B

 

Intec Pharma
Patents

 

	1.Patent	Yissum
    Research Development Company of the Hebrew University of Jerusalem Gastroretentive Controlled Release Pharmaceutical Dosage
    Forms -(Client Case:IN-1-IL) - (0047465)

 

	Country	App.
    No.	Our Ref.	Filed	Patent
        No./

        Publication
        No.
	Grant
        Date/

        Pub.
        Date
	Next
    Renewal
	Israel	149853	1634914	20/11/2000	149853	01/04/2007	20/11/2018
	Patent

        Cooperation Treaty
	PCT/IL00/00774	1635077	20/11/2000	WO 01/37812	31/05/2001	 
	Australia	16477/01	1635101	20/11/2000	783062	05/01/2006	20/11/2015
	Canada	2,392,361	1635119	20/11/2000	2,392,361	19/01/2010	20/11/2015
	Japan	2001-539427	1635127	20/11/2000	4679020	10/02/2011	10/02/2015
	United

        States of

        America
	10/157,325	1635143	20/11/2000	6,685,962	03/02/2004	03/08/2015
	South
    Africa	200204268	1635150	20/11/2000	2002/4268	26/11/2003	20/11/2015
	European

        Patent

        Office
	00978993.4	1635168	20/11/2000	1235557	27/07/2005	 
	France	00978993.4	1635572	20/11/2000	1235557	27/07/2005	30/11/2015
	Germany	00978993.4	1635580	20/11/2000	60021604	27/07/2005	30/11/2015
	Spain	00978993.4	1635598	20/11/2000	1235557	27/07/2005	30/11/2015
	Switzerland	00978993.4	1635606	20/11/2000	EP1235557	27/07/2005	30/11/2015
	Ireland	00978993.4	1635630	20/11/2000	1235557	27/07/2005	30/11/2015
	Italy	00978993.4	1635648	20/11/2000	1235557	27/07/2005	30/11/2015

 

    	 

    	 

    

 

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

	1.Patent	Yissum
    Research Development Company of the Hebrew University of Jerusalem Gastroretentive Controlled Release Pharmaceutical Dosage
    Forms -(Client Case:IN-1-IL) - (0047465)

 

 

	Country	App.
    No.	Our Ref.	Filed	Patent
        No./

        Publication
        No.
	Grant
        Date/

        Pub.
        Date
	Next
    Renewal
	United
    Kingdom	00978993.4	1635655	20/11/2000	1235557	27/07/2005	30/11/2015

 

	2.Patent	Intec
    Pharma Ltd.
	 	Method
    and Apparatus for Forming Delivery Devices for Oral Intake of an Agent -(Client Case:IN-3-USP) - (0047512)

 

	Country	App.
    No.	Our Ref.	Filed	Patent
        No./ 

        Publication
        No.
	Grant
        Date/ 

        Pub.
        Date
	Next
    Renewal
	United

        States of

        America
	60/759,554	1636661	18/01/2006	 	 	 
	Patent

        Cooperation Treaty
	IL2007/000070	1724418	18/01/2007	WO2007/083309	26/07/2007	 
	European

        Patent

        Office
	07700757.3	1853217	18/01/2007	1981465	22/10/2008	31/01/2015
	Canada	2,637,655	1853225	18/01/2007	 	 	18/01/2015
	Israel	192896	1853233	18/01/2007	192896	28/09/2013	18/01/2017
	Japan	2008-550909	1853241	18/01/2007	5399715	01/11/2013	01/11/2016

 

    	 

    	 

    

 

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

	 

        United

        States of

        America
	12/087,888	1853258	18/01/2007	8,298,574	30/10/2012	30/04/2016
	United

        States of

        America
	13/613,718	2181500	18/01/2007	8,753,678	17/06/2014	17/12/2017
	United

        States of

        America
	13/800,471	2214433	18/01/2007	8,609,136	17/12/2013	17/06/2017
	Japan	2013-054912	2216375	18/01/2007	2013-129669	04/07/2013	 
	Israel	226561	2228767	18/01/2007	 	 	 
	Israel	226563	2229192	18/01/2007	 	 	 
	Israel	226564	2229205	18/01/2007	 	 	 
	United

        States of

        America
	14/305,600	2275337	18/01/2007	US-2014-0360132	11/12/2014	 

 

	3.Patent	Intec
    Pharma Ltd.
	 	A
    Gastro-Retentive System for the Delivery of Macromolecules -(Client Case:IN-4-USP) -(0047513)

 

	Country	App.
    No.	Our Ref.	Filed	Patent
        No./ 

        Publication
        No.
	Grant
        Date/ 

        Pub.
        Date
	Next
    Renewal
	United

        States of

        America
	60/773,316	1636679	15/02/2006	 	 	 
	Patent

        Cooperation Treaty
	IL2007/000212	1731967	15/02/2007	WO 2007/093999	23/08/2007	 

 

    	 

    	 

    

 

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

	3.Patent	Intec
    Pharma Ltd.
	 	A
    Gastro-Retentive System for the Delivery of Macromolecules -(Client Case:IN-4-USP) -(0047513)

 

	Country	App.
    No.	Our Ref.	Filed	Patent
        No./ 

        Publication
        No.
	Grant
        Date/ 

        Pub.
        Date
	Next
    Renewal
	European

        Patent

        Office
	07713260.3	1859727	15/02/2007	1991210	19/11/2008	28/02/2015
	Canada	2,642,479	1859735	15/02/2007	2,642,479	19/08/2014	15/02/2015
	Israel	193450	1859743	15/02/2007	 	 	 
	United

        States of

        America
	12/223,965	1859750	15/02/2007	US-2009-0304768	10/12/2009	 

 

	4.Patent	Intec
    Pharma Ltd.
	 	Carbidopa/Lipodopa
    Gastroretentive Drug Delivery -(Client Case:IN-7-IL) -(060812)

 

	Country	App.
    No.	Our Ref.	Filed	Patent
        No./ 

        Publication
        No.
	Grant
        Date/ 

        Pub.
        Date
	Next
    Renewal
	Israel	208708	2051008	17/04/2009	 	 	 
	United

        States of

        America
	12/937,955	2144590	17/04/2009	8,771,730	08/07/2014	08/01/2018
	Patent

        Cooperation Treaty
	PCT/IB2009/005691	2153336	17/04/2009	WO 2009/144558	 	 
	Canada	2,721,493	2153341	17/04/2009	 	 	17/04/2015
	China	200980120103.9	2153353	17/04/2009	CN102149369A	10/08/2011	 

 

    	 

    	 

    

 

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

	4.Patent	Intec
    Pharma Ltd.
	 	Carbidopa/Lipodopa
    Gastroretentive Drug Delivery -(Client Case:IN-7-IL) -(060812)

 

	Country	App.
    No.	Our Ref.	Filed	Patent
        No./ 

        Publication
        No.
	Grant
        Date/ 

        Pub.
        Date
	Next
    Renewal
	European

        Patent

        Office
	09754186.6	2153363	17/04/2009	2276473	26/01/2011	30/04/2015
	India	7638/DELNP/2010	2153372	17/04/2009	 	 	 
	Japan	2011-504573	2153395	17/04/2009	 	 	 
	Japan	 	2330464	 	 	 	 
	Republic
    of Korea	10-2010-7025481	2153405	17/04/2009	 	 	 
	South
    Africa	2010/07797	2153411	17/04/2009	2010/07797	27/07/2011	17/04/2015
	Hong
    Kong	11113197.1	2153823	17/04/2009	1158545	20/07/2012	17/04/2018
	United

        States of

        America
	14/322,436	2286884	17/04/2009	US-2014-0314842	23/10/2014	 
	United

        States of

        America
	14/322,460	2286894	17/04/2009	US-2015-0010624	08/01/2015	 

 

	5.Patent	Intec
    Pharma Ltd.
	 	ZALEPLON
    GASTRORETENTIVE DRUG DELIVERY SYSTEM -(Client Case:IN-8-IL) -(060811)

 

	Country	App.
    No.	Our Ref.	Filed	Patent
        No./ 

        Publication
        No.
	Grant
        Date/ 

        Pub.
        Date
	Next
    Renewal
	Israel	213376	2127779	19/10/2009	 	 	 

 

    	 

    	 

    

 

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

	5.Patent	Intec
    Pharma Ltd.
	 	ZALEPLON
    GASTRORETENTIVE DRUG DELIVERY SYSTEM -(Client Case:IN-8-IL) -(060811)

 

	Country	App.
    No.	Our Ref.	Filed	Patent
        No./ 

        Publication
        No.
	Grant
        Date/ 

        Pub.
        Date
	Next
    Renewal
	Patent

        Cooperation Treaty
	PCT/IB2009/007731	2153230	19/10/2009	WO
    2010/064139	 	 
	China	200980153943.5	2153258	19/10/2009	CN102300463A	28/12/2011	19/10/2014
	European

        Patent

        Office
	09830077.5	2153268	19/10/2009	2378883	26/10/2011	31/10/2014
	India	5067/DELNP/2011	2153278	19/10/2009	 	 	 
	South
    Africa	2011/04620	2153314	19/10/2009	2011/04620	28/03/2012	19/10/2015
	United

        States of

        America
	13/132,899	2153326	19/10/2009	US-2012-0021051	26/01/2012	 
	Japan	2014-231788	2320509	19/10/2009	 	 	 

 

	6.Patent	Intec
    Pharma Ltd.
	 	Accordion
    pill comprising levodopa for an improved treatment of Parkinson`s Disease symptoms -(Client Case:IN-11-USP) -(060810)

 

	Country	App.
    No.	Our Ref.	Filed	Patent
        No./ 

        Publication
        No.
	Grant
        Date/ 

        Pub.
        Date
	Next
    Renewal
	United

        States of

        America
	61/408,985	2153012	01/11/2010	 	 	 

 

    	 

    	 

    

 

NOTE:
PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE
COMMISSION (“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED
WITH A “[***]” IN PLACE OF THE REDACTED LANGUAGE.

 

	6.Patent	Intec
    Pharma Ltd.
	 	Accordion
    pill comprising levodopa for an improved treatment of Parkinson`s Disease symptoms -(Client Case:IN-11-USP) -(060810)

 

	Country	App.
    No.	Our
    Ref.	Filed	Patent
        No./

        Publication
        No.
	Grant
        Date/ 

        Pub.
        Date
	Next
    Renewal
	Patent

        Cooperation Treaty
	PCT/IB2011/002888	2153034	01/11/2011	WO
    2012/059815	10/05/2012	 
	Canada	2,815,959	2222633	01/11/2011	 	 	01/11/2015
	European

        Patent

        Office
	11805936.9	2222641	01/11/2011	2635272	11/09/2013	30/11/2015
	India	4158/DELNP/2013	2222652	01/11/2011	 	 	 
	Israel	226000	2222662	01/11/2011	 	 	 
	United

        States of

        America
	13/882,768	2222675	01/11/2011	US-2014-0017303	16/01/2014	 

 

	7.Patent	Intec
    Pharma Ltd.
	 	“[***]”

 

	Country	App.
    No.	Our Ref.	Filed	Patent
        No./

        Publication
        No.
	Grant
        Date/ 

        Pub.
        Date
	Next
    Renewal
	“[***]”	“[***]”	“[***]”	“[***]”	 	 	 

 

    	 

    	 

    

 

NOTE: PORTIONS
OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION
(“COMMISSION”). SUCH PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION AND ARE MARKED WITH A “[***]”
IN PLACE OF THE REDACTED LANGUAGE.

 

	8.Patent	Intec
    Pharma Ltd.
	 	“[***]”

 

	Country	App.
    No.	Our
    Ref.	Filed	Patent
        No./

        Publication
        No.
	Grant
        Date/ 

        Pub.
        Date
	Next
    Renewal
	“[***]”	“[***]”	“[***]”	“[***]”	 	 	 

 

	9.Patent	Intec
    Pharma Ltd.
	 	“[***]”

 

	Country	App.
    No.	Our
    Ref.	Filed	Patent
        No./

        Publication
        No.
	Grant
        Date/ 

        Pub.
        Date
	Next
    Renewal
	“[***]”	“[***]”	“[***]”	“[***]”	 	 	 

 

	10.Patent	Intec
    Pharma Ltd.
	 	“[***]”

 

	Country	App.
    No.	Our
    Ref.	Filed	Patent
        No./

        Publication
        No.
	Grant
        Date/ 

        Pub.
        Date
	Next
    Renewal
	“[***]”	“[***]”	“[***]”	“[***]”

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