Document:

EX-10.4

 Exhibit 10.4 

Certain information in this document identified by brackets has been omitted because it is both (i) not material and (ii) would be competitively harmful if
publicly disclosed. 
 Execution Version 

EXCLUSIVE RIGHTS AGREEMENT 

THIS AMENDED AND RESTATED EXCLUSIVE RIGHTS
AGREEMENT (the “Agreement”) is effective January 1st, 2020 (the “Effective Date”) by and between BioAtla LLC, a
Delaware limited liability company (“BioAtla”), Himalaya Therapeutics SEZC (formerly named BioAtla Cayman SEZC), a company organized under the laws of the Cayman Islands, having a registered office c/o International
Corporation Services Ltd., P.O. Box 472, Harbour Place, 2nd Floor, 103 South Church Street, George Town, Grand Cayman KY1-1106, Cayman Islands, and Himalaya
Therapeutics Hong Kong (formerly BioAtla Hong Kong Holding), having offices at 6th Floor, Alexandra House 18 Chater Road, Central Hong Kong (collectively, “Himalaya”). 

RECITALS 

WHEREAS, BioAtla has developed, and possesses intellectual property rights in and to, its proprietary Conditionally
Active Biologics platform for the design and engineering of therapeutic monoclonal antibodies and other therapeutic proteins for selective conditional activation, and is the owner of CAB Antibodies (as defined below); 

WHEREAS, Himalaya is a privately held biotechnology company established to develop and commercialize CAB
Antibodies and other drugs in the Territory (as defined below); 
 WHEREAS, Himalaya desires to obtain from BioAtla,
and BioAtla desires to grant to Himalaya exclusive rights to certain BioAtla Intellectual Property (defined below) and CAB Antibodies to develop and commercialize CAB Antibodies in the Territory, subject to the terms and conditions of this
Agreement. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants contained herein, and
for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, BioAtla and Himalaya hereby agree as follows: 
  

	1.	 DEFINITIONS 

1.1 “ACT” or “Adoptive Cellular Therapy”
means an immunotherapy in which (a) genetically modified lymphocytes are administered to a patient or (b) targeted gene therapy vectors that modify lymphocytes are administered to a patient. Adoptive Cellular Therapies include, but are
not limited to, chimeric antigen receptor-modified T cell (“CAR T”) therapies. 
 1.2
“Affiliate” means, with respect to a given party, any corporation, company, partnership, joint venture, or any other entity that, directly or indirectly, through one or more intermediaries, is controlled by,
controlling, or under common control with such party, as the case may be, but for only so long as such control exists. As used in this Section 1.2, “control” means direct or indirect beneficial ownership of
more than 50% of the outstanding stock or other voting rights entitled to elect directors in any corporation, company, partnership, joint venture, or other entity; but in any country where the local law does not permit foreign equity participation
of more than 50%, then such lesser percentage which is the maximum allowed to be owned by a foreign corporation in such country. For purposes of this Agreement, BioAtla and Himalaya will not be considered Affiliates of each other. 

1.3 “Alliance Manager” has the meaning set forth in Section 2.8. 

1.4 “Animal
Proof-of-Concept” or “Animal POC” shall mean rodent tumor xenograft studies only. 

1.5 “BioAtla Indemnitee” has the meaning set forth in Section 11.2. 

1.6 “BioAtla Clinical Data” means clinical Data generated in connection with the
clinical development of each CAB Antibody and each Product in the ROW by BioAtla. 

 1.7 “BioAtla Data” means any and all scientific, technical
or test Data, including clinical pharmacology Data, chemistry-manufacture-controls Data (including analytical and quality control Data and stability Data), preclinical Data and clinical Data and all submissions made in association with an IND or
NDA, pertaining to the CAB Antibody or Product generated by BioAtla in the ROW. BioAtla Data includes BioAtla Clinical Data. 

1.8 “BioAtla Intellectual Property” means BioAtla Know-How and BioAtla
Patent Rights. 
 1.9 “BioAtla Know-How” means, on a CAB Antibody-by-CAB Antibody and Product-by-Product basis, all
Know-How (including BioAtla Data) that BioAtla Controls as of the Effective Date or during the Term, solely to the extent such Know-How is required to develop,
manufacture, have manufactured, use, conduct clinical trials of, sell, have sold, and offer for sale each Product in the Territory. For avoidance of doubt, BioAtla Know-How shall not include Himalaya Know-How. 
 1.10 “BioAtla Patent Rights” means any and all Patent Rights
that BioAtla or any of its Affiliates Controls as of the Effective Date or during the Term that Cover any BioAtla Know-How, including without limitation any such Patent Rights that Cover methods of
use/treatment using a CAB Antibody composition of matter solely in the Territory (“Composition/Method of Use Patents”). For avoidance of doubt, BioAtla Patent Rights shall not include Himalaya Patent Rights. 

1.11 “CAB Antibody” or “CAB Antibodies” means an Initial CAB Antibody and/or a New Option Antibody.

 1.12 “CAB Antibody Formats” has the meaning set forth in Section 3.1. 

1.13 “CAB Patent Rights” has the meaning set forth in Section 7.2. 

1.14 “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 consecutive months ending on March 31, June 30, September 30, and December 31; provided that, the
final Calendar Quarter shall end on the last day of the Term.  
 1.15 “Calendar
Year” means the period beginning on the Effective Date and ending on December 31 of the calendar year in which the Effective Date falls, and thereafter each successive period of twelve consecutive months ending on
December 31; provided that, the final Calendar Year shall end on the last day of the Term. 
 1.16 “CFDA”
means the China Food and Drug Administration, or any successor agency thereto. 
 1.17 “Change of Control”
means, with respect to BioAtla, (a) the sale of all or substantially all of BioAtla’s assets or business to any Third Party; (b) a merger, consolidation, share exchange or other similar transaction involving BioAtla and any Third
Party which results in the holders of the outstanding voting securities of BioAtla immediately prior to such merger, consolidation, share exchange or other similar transaction ceasing to hold more than 50% of the combined voting power of the
surviving, purchasing or continuing entity, directly or indirectly, immediately after such merger, consolidation, share exchange or other similar transaction, or (c) the acquisition by a Third Party, or group of Third Parties acting in concert,
of more than 50% of the outstanding voting equity securities of BioAtla. Notwithstanding the foregoing, neither (i) a sale of BioAtla’s capital stock in a public offering or other bona fide financing transaction or (ii) a transaction
solely to change the domicile of BioAtla shall constitute a Change of Control. 
 1.18
“Claim” has the meaning set forth in Section 11.1. 
 1.19 “Clinical
Criteria” has the meaning set forth in Section 3.2(b). 
 1.20 “Clinical
Data” has the meaning set forth in Section 7.1(c). 

  
 2 

 1.21 “Commercialization Plan(s)” means, with respect to a
particular CAB Antibody, the written plan setting forth the activities to be performed by or on behalf of each Party, or by a Licensee (as the case may be), with respect to the commercialization of such CAB Antibody in the Territory, which plan will
be agreed upon by the JDCC pursuant to Section 3.2(c) hereunder, as such plan may be amended from time to time. Each Commercialization Plan with a Licensee will also include a budget which will be comprised of actual costs incurred to date, and
a projection of future costs to be incurred summarized by Calendar Quarter. The budget will be prepared in accordance with GAAP. 

1.22 “Commercially Reasonable Efforts” means those efforts, consistent with the exercise of customary
scientific and business practices, as applied in the pharmaceutical industry for development and commercialization activities conducted with respect to other products of similar commercial potential and market size. 

1.23 “Composition/Method of Use Patents” has the meaning set forth in the
definition of “BioAtla Patent Rights” above. 
 1.24 “Confidential Information” means any
confidential or proprietary information and materials, patentable or otherwise, in any form (written, oral, photographic, electronic, magnetic, or otherwise) possessed, obtained, developed, or created by or on behalf of a party that is disclosed by
or on behalf of such party or any of its Affiliates to any other party or its Affiliates. 
 1.25
“Control” or “Controlled” means, with respect to any Know-How, Patent Rights, New Patent Rights or other intellectual property
right, the legal authority or right (whether by ownership, license or otherwise but without taking into account any rights granted pursuant to this Agreement) of a party to grant access, a license or a sublicense of or under such Know-How, Patent Rights, New Patent Rights or other intellectual property rights to another party, or to otherwise disclose proprietary or trade secret information to another party, without breaching the terms of
any agreement with a Third Party, or misappropriating the proprietary or trade secret information of a Third Party. Notwithstanding the foregoing, for the purpose of defining whether intellectual property,
Know-How, Patent Rights, New Patent Rights or other intellectual property rights to another party, is Controlled by a Party, if such intellectual property, Know-How,
Patent Rights, New Patent Rights or other intellectual property rights to another party is first acquired, licensed or otherwise made available to such Party after the Effective Date, and if the use, practice or exploitation thereof by or on behalf
of the other Party, its Affiliates or sublicensees would require the first Party to pay any additional amounts to the Third Party from which the first Party acquired, licensed or otherwise obtained intellectual property, Know-How, Patent Rights, New Patent Rights or other intellectual property rights (“Additional Amounts”), such intellectual property, Know-How, Patent Rights, New
Patent Rights or other intellectual property rights shall be deemed to be Controlled by the first Party only if the other Party agrees to pay (if necessary) and does in fact pay all Additional Amounts with respect to such other Party’s use of
or license. 
 1.26 “Costs of Development” means the cost to develop a CAB
Antibody under a Development Plan, including, for example, to manufacture any CAB Antibody or Product for use in preclinical or clinical development activities as contemplated by the Development Plans (as applicable), including: (a) in the case
of products and services acquired from Third Parties, payments made to such Third Parties; and (b) in the case of services performed by a party or its Affiliates, the actual costs incurred to perform those services. Actual costs shall consist
of direct material and supply costs, direct labor costs, costs of licensed technologies such as any antibody-drug conjugate technology or cell lines used solely for development or commercialization activities, shipping, freight, sales tax, and
overhead attributable to the CAB Antibody or Product, all calculated in accordance with GAAP. Direct material costs shall include the costs incurred in purchasing materials, including sales and excise taxes imposed thereon, customs duties and
charges levied by government authorities, and all costs of packaging components. Direct labor costs shall include the fully-burdened cost of employees including salaries, payroll taxes, and benefits. Manufacturing overhead attributable to the CAB
Antibody or Product shall include a reasonable allocation of indirect labor costs (not previously included in direct labor costs), a reasonable allocation of administrative costs and a reasonable allocation of facilities and other overhead costs.

  
 3 

 1.27 “Costs of Commercialization”
means the cost to commercialize a CAB Antibody under a Commercialization Plan, including: (a) in the case of products and services acquired from Third Parties, payments made to such Third Parties; and (b) in the case of services
performed by a party or its Affiliates, the actual costs incurred to perform those services. Actual costs shall consist of direct material costs, direct labor costs and overhead directly attributable to the commercialization of a CAB Antibody or
Product, all calculated in accordance with GAAP. Direct material costs shall include the costs incurred in purchasing materials, including sales and excise taxes imposed thereon, customs duties and charges levied by government authorities, and all
costs of packaging components. Direct labor costs shall include the fully-burdened cost of employees including salaries, payroll taxes, and benefits. For clarification, under no circumstance shall any Commercialization Cost include any Costs of
Development. 
 1.28 “Cover”, “Covering” or “Covered” means, with respect to a claim of
a Patent Right and a Product, that the manufacture, use, offer for sale, sale or importation of the Product would infringe a Valid Claim of such Patent Right in the country in which such activity occurred, but for the licenses granted in this
Agreement (or ownership thereof). 
 1.29 “Data” means any and all scientific, technical, safety or test
data, including clinical pharmacology data, chemistry-manufacture-controls data (including analytical and quality control data and stability data), preclinical data and clinical data and all submissions made in association with an IND or NDA,
pertaining to any CAB Antibody or Product generated by any person, including generated by or on behalf of Himalaya or its Affiliates or Licensees, or by or on behalf of BioAtla or its Affiliates with respect to any CAB Antibody or Product under a
Development Plan or a Commercialization Plan, as the case may be. Data shall include the Clinical Data. 
 1.30
“Development Plan(s)” means, with respect to a particular CAB Antibody, the written plan setting forth the activities to be performed by or on behalf of each Party, or by a Licensee (as the case may be),
with respect to the development of such CAB Antibody in the Territory, including timelines and the Clinical Criteria, which plan will be agreed upon by the JDCC pursuant to Section 3.2(b) hereunder, as such plan may be amended from time to
time. Each development plan will also include a budget which will be comprised of actual costs incurred to date, and a projection of future costs to be incurred summarized by Calendar Quarter. The budget will be prepared in accordance with GAAP.

 1.31 “Export Control Laws” means all applicable U.S. laws and regulations
relating to (a) sanctions and embargoes imposed by the Office of Foreign Assets Control of the U.S. Department of Treasury or (b) the export or re-export of commodities, technologies, or services,
including, but not limited to, the Export Administration Act of 1979, 24 U.S.C. §§ 2401-2420, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701-1706, the Trading with the Enemy Act, 50 U.S.C. §§ 1 et.
seq., the Arms Export Control Act, 22 U.S.C. §§ 2778 and 2779, and the International Boycott Provisions of Section 999 of the U.S. Internal Revenue Code of 1986 (as amended). 

1.32 “FCPA” means the U.S. Foreign Corrupt Practices Act (15 U.S.C. Section 78dd-1, et. seq.) as amended. 
 1.33
“FDA” means the U.S. Food and Drug Administration, or any successor agency thereto. 

1.34 “Field” means all applications for the treatment of cancer in humans. 

1.35 “First Commercial Sale” means, on a Product-by-Product and country-by-country basis, the first sale of such Product in such country for use or consumption by the
general public and for which any of Himalaya or its Affiliates or Licensees has invoiced sales of Products in the Territory for which all Regulatory Approvals that are legally required in order to sell such Product in such country have been granted;
in each case, provided, however, that the following shall not constitute a First Commercial Sale: (a) any sale to an Affiliate or Licensee unless the Affiliate or Licensee is the last entity in the distribution chain of the Product;
(b) any use of such Product in Clinical Trials or non-clinical development activities with respect to such Product by or on behalf of Himalaya or its Affiliates or Licensees, or disposal or transfer of
such Product or for a bona fide charitable purpose; and (c) compassionate use, in each case (a) – (c) for which no payment is received by Himalaya, its Affiliates or Licensees. 

  
 4 

 1.36 “GAAP” means generally accepted accounting principles
in the United States, or internationally, as appropriate, consistently applied and means the international financial reporting standards (“IFRS”) at such time as IFRS becomes the generally accepted accounting standard and applicable laws
permit that a party use IFRS. 
 1.37 “GC” means the People’s Republic of China, and the Special
Administrative Regions of Hong Kong and Macao, and Taiwan. 
 1.38 “Global Transaction” means any licensing
or other transaction in which a Third Party acquires, directly or indirectly, the rights to develop and commercialize the applicable Product in the Territory and the ROW. 

1.39 “Global Transaction Summary” has the meaning set forth in Section 7.9. 

1.40 “Himalaya Indemnitee” has the meaning set forth in Section 11.1. 

1.41 “Himalaya Know-How” means all Know-How that Himalaya or any of its Affiliates Controls during the Term, which Know-How (a) is necessary to develop, make, have made, use, conduct clinical trials of,
sell, have sold, offer for sale and import any CAB Antibody or any Product in the Field in the ROW or to develop, make, have made and conduct clinical trials of any CAB Antibody or any Product in the Field in the Territory, or (b) for purposes
of Section 10.6(d)(i), as applicable, is necessary to use, sell, have sold, offer for sale and import any CAB Antibody or any Product in the Field in the Territory. For avoidance of doubt, Himalaya
Know-How shall not include BioAtla Know-How. 

1.42 “Himalaya Patent Rights” means any and all Patent Rights that Himalaya or any
of its Affiliates Controls during the Term which Cover the Himalaya Know-How. For avoidance of doubt, Himalaya Patent Rights shall not include BioAtla Patent Rights. 

1.43 “Himalaya Intellectual Property” means the Himalaya Know-How and the Himalaya Patent Rights. 
 1.44
“ICH” means the International Conference on Harmonization (of Technical Requirements for Registration of Pharmaceuticals for Human Use). 

1.45 “IL-22 ANTIBODY” means BioAtla’s lead IL-22 antibody, including all data related thereto
required for development (including manufacturing) and commercialization in the Territory. 
 1.46 “IND”
means an investigational new drug application filed with the applicable Regulatory Authority, which application is required to commence human clinical trials in the applicable country. 

1.47 “Indemnification Claim” has the meaning set forth in Section 11.1 

1.48 “Indemnitee” has the meaning set forth in Section 11.1 

1.49 “Indemnitor” has the meaning set forth in Section 11.1 

1.50 “Initial CAB Antibody” means each CAB Antibody in the CAB Antibody Format listed on Exhibit A.
Notwithstanding anything herein to the contrary, no Initial CAB Antibody shall be in an ACT format (including, without limitation, a CAR T format), and BioAtla shall be free to work with any Third Party in the Territory on Initial CAB Antibodies in
an ACT format (including, without limitation, a CAR T format). 
 1.51 “Inventions”
means all inventions, whether or not patentable, discovered, made, conceived, or conceived and reduced to practice by either Party, on or after the Effective Date in the course of activities conducted pursuant to this Agreement. 

  
 5 

 1.52 “JDCC” has the meaning set
forth in Section 2.1. 
 1.53
“Know-How” means all techniques, technology, trade secrets, inventions (whether patentable or not), methods, know-how, Data and
results (including all research Data, clinical pharmacology Data, chemistry-manufacture-controls Data (including analytical and quality control Data and stability Data), preclinical Data and clinical data), regulatory documents and filings,
compositions of matter, cells, cell lines, assays, animal models and other physical, biological, or chemical material, and all other scientific, clinical, regulatory, marketing, financial and commercial information. 

1.54 “LEAD” means a lead candidate antibody for a CAB Antibody hereunder as
designated by BioAtla. 
 1.55 “License Agreement” has the meaning set forth in Section 4.2(a). 

1.56 “Licensee” means any Third Party to whom Himalaya grants a sublicense under the License Agreement. 

1.57 “Litigation Conditions” means, with respect to a Claim, (a) such Claim does not seek injunctive
relief or non-monetary damages from the Indemnitee and (b) the Indemnitor expressly agrees in writing that as between the Indemnitor and Indemnitee, the Indemnitor shall be solely obligated to satisfy and
discharge such Claim in full and is able to reasonably demonstrate that it has sufficient financial resources to meet such indemnification obligations. 

1.58 “Losses” has the meaning set forth in Section 11.1. 

1.59 “MAA” means a regulatory application filed with a Regulatory Authority
(including the CFDA but excluding the FDA) seeking Regulatory Approval of a biological, pharmaceutical or diagnostic product, and all amendments and supplements thereto filed with such Regulatory Authority. 

1.60 “Materials” has the meaning set forth in Section 3.7. 

1.61 “Milestone Payment” means all payments made to Himalaya and all other Selling
Parties other than an upfront payment or a royalty payment (based upon a specified percentage of Net Sales of the Product) for the development and /or commercialization of Products. 

1.62 “NDA” means a new drug application or MAA, as applicable, filed with the applicable Regulatory Authority,
which application is required for marketing approval for the applicable Product in the applicable country in the Territory. 

1.63 “Net Sales” shall mean the gross amounts invoiced by or on behalf of
Himalaya, Licensees or any of their respective Affiliates and assignees (each individually and collectively, the “Selling Party”) to third parties (other than another Selling Party) for sales or other dispositions of Products in the
Territory, less the following deductions (all in accordance with GAAP) actually incurred, allowed, paid, accrued or otherwise specifically allocated to Products by the Selling Party: 

[***] 

1.64 “New Option Antibody” means the option antibodies, in the CAB Antibody Format
indicated, listed on Exhibit B. Notwithstanding anything herein to the contrary, no New Option Antibody shall be in an ACT format (including, without limitation, a CAR T format), and BioAtla shall be free to work with any Third Party in the
Territory on New Option Antibodies in an ACT format (including, without limitation, a CAR T format). 
  

 
 [***] Certain information in this
document has been omitted from this exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed. 

  
 6 

 1.65 “New Patent Rights” means
Patent Rights first developed on and after the Effective Date that Cover Inventions, as applicable. 
 1.66
“Non-Patented Inventions” shall mean Inventions first developed on and after the Effective Date that are not covered in New Patent Rights. 

1.67 “P2 Initiation” means the enrollment of the first patient in a P2 Clinical Trial. 

1.68 “P3 Initiation” means the enrollment of the first patient in a P3 Clinical Trial. 

1.69 “Parties” means BioAtla and Himalaya and “party” means BioAtla or Himalaya. 

1.70 “Patent Rights” means (a) all patents, certificates of invention, applications for certificates of
invention, priority patent filings and patent applications, and (b) any renewal, division, continuation (in whole or in part), or request for continued examination of any of such patents, certificates of invention and patent applications, and
any and all patents or certificates of invention issuing thereon, and any and all reissues, reexaminations, extensions, divisions, renewals, substitutions, confirmations, registrations, revalidations, revisions, and additions of or to any of the
foregoing. 
 1.71 “Phase I Clinical Trial” or “P1 Clinical
Trial” means a human clinical trial of a Product in which the primary endpoints include determination of most frequent and serious adverse events, as more fully defined in regulations in a country in the Territory, and any
amended or successor regulations. 
 1.72 “Phase II Clinical Trial” or
“P2 Clinical Trial” means the earlier to occur of (a) a human clinical trial of a Product in which the primary endpoints include a determination of dose ranges or preliminary determination of efficacy
of such Product in patients being studied, as more 
 fully defined in regulations in a country in the Territory, and any amended or
successor regulations, and (b) a Pivotal Clinical Trial. 
 1.73 “Phase III Clinical
Trial” or “P3 Clinical Trial” means the earlier to occur of (a) a human clinical trial of a Product, the purpose of which is to demonstrate clinically and statistically the efficacy
and safety of a Product for an indication in order to support regulatory approval of such Product for such indication, as more fully defined in regulations in a country in the Territory, and any amended or successor regulations, and (b) a
Pivotal Clinical Trial. 
 1.74 “Pivotal Clinical Trial” means a human clinical
trial of a product on a sufficient number of subjects that, prior to commencement of the trial, satisfies both of the following ((a) and (b)): 

(a) such trial is designed to establish that such product has an acceptable safety and efficacy profile for its intended use, and to
determine warnings, precautions, and adverse reactions that are associated with such product in the dosage range to be prescribed, which trial is intended to support Regulatory Approval of such product in the Territory; and 

(b) such trial is a registration trial sufficient for filing an application for a Regulatory Approval for such product in the Territory, as
evidenced by (i) an agreement with or statement from the applicable Regulatory Authority on a Special Protocol Assessment or equivalent, or (ii) other guidance or minutes issued by the applicable Regulatory Authority for such registration
trial. 
 1.75 “Product” means any pharmaceutical product that incorporates or is comprised of a CAB
Antibody (or any variant, fragment, modification or derivative of a CAB Antibody), alone or in combination with one or more other active pharmaceutical ingredients, in any dosage form or formulation. 

1.76 “Public Official or Entity” means (a) any officer, employee (including
physicians, hospital administrators, or other healthcare professionals), agent, representative, department, agency, de facto official, corporate entity, instrumentality or subdivision of any government, military or public international organization,
including, but not limited to, any ministry or department of health or any state-owned or affiliated company or hospital, or (b) any candidate for political office, any political party or any official of a political party. 

  
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 1.77 “Regulatory Approval”
means any and all approvals, licenses, registrations, or authorizations of any country, federal, supranational, state or local regulatory agency, department, bureau or other government entity that are necessary for the manufacture, use, storage,
import, transport and sale of a Product in the Territory. 
 1.78 “Regulatory
Authority” means any national, provincial or local regulatory agency, department, bureau or other government entity, that has responsibility in its applicable jurisdiction over the research, development, manufacture and
commercialization of a Product in the Territory, including the FDA and CFDA. 
 1.79 “Regulatory-Based
Exclusivity” means, on a Product-by- Product and
country-by-country basis, that (a) Himalaya or any other Selling Party has been granted the exclusive legal right by a Regulatory Authority (or is otherwise
entitled to the exclusive legal right by operation of Law) in such country to market and sell the Product or the active ingredient comprising such Product in such country, including any pediatric or orphan drug exclusivity, or (b) the data and
information submitted by Himalaya or any other Selling Parties to the relevant Regulatory Authority in such country for purposes of obtaining Regulatory Approval for such Product may not be disclosed, referenced or relied upon in any way by any
person other than Himalaya or other Selling Parties (including by relying upon the Regulatory Authority’s previous findings regarding the safety or effectiveness of the Product) to support the Regulatory Approval or marketing of any Product by
a Third Party in such country. 
 1.80 “Regulatory Filing” means any IND or NDA filed with the applicable
Regulatory Authority in a given country. 
 1.81 “ROW” means the rest of the
world outside the Territory. For clarity, for CAB Antibodies for which the Teritory is worldwide, there is no ROW. 
 1.82
“ROW License” has the meaning set forth in Section 4.3(a). 
 1.83
“Royalty Term” means, on a Product-by- Product and
country-by-country basis, the period of time commencing on the First Commercial Sale of such Product in such country and expiring upon the latest of (a) the
expiration of the last Valid Claim of a Composition/Method of Use Patent that Covers the Product in such country, (b) the expiration of Regulatory-Based Exclusivity for such Product in such country, and (c) the fifteenth (15th) anniversary
of the date of First Commercial Sale of such Product in such country. 
 1.84 “SEC” means the U.S.
Securities and Exchange Commission or any successor entity. 
 1.85 “Specifically Directed” means, with
respect to a Target, the ability of a molecule, agent, or compound to selectively and specifically bind to such Target to inhibit, activate or otherwise modulate the activity of such Target. 

1.86 “Target” means a protein, polypeptide, or nucleic acid molecule, and all nucleic acids encoding such
protein, polypeptide, regulatory sequences or molecule, including all variants thereof. 
 1.87 “Territory”
means the territory for each CAB Antibody set forth on a CAB Antibody-by-CAB Antibody basis in Exhibit A, and each New Option Antibody on a New Option Antibody-by-New Option Antibody basis in Exhibit B. 

1.88 “Term” has the meaning set forth in Section 10.1. 

1.89 “Third Party” means any person other than BioAtla or Himalaya that is not an
Affiliate of BioAtla or of Himalaya. 

  
 8 

 1.90 “Third Party Acquirer” means any entity other than an
Affiliate of BioAtla, in negotiations to acquire BioAtla. 
 1.91 “Third Party Service Provider” means any
entity other than BioAtla, Himalaya, Licensee or an Affiliate of BioAtla or Himalaya or Licensee, which BioAtla, Himalaya or Licensee, or an Affiliate of BioAtla or Himalaya or Licensee, engages to perform development services under a Development
Plan or commercialization services under a Commercialization Plan, or any other services related to a CAB Antibody or Product hereunder. 

1.92 “U.S.” means the United States of America, including the District of Columbia

 1.93 “US$”, “$” or “USD” means the United States dollars. For clarity, all payments
hereunder are due in USD. 
 1.94 “Valid Claim” means a claim of (a) an
issued patent in the Territory, as applicable, that has not expired, lapsed, been cancelled or abandoned, or been dedicated to the public, disclaimed, or held unenforceable, invalid, revoked or cancelled by a court or administrative agency of
competent jurisdiction in an order or decision from which no appeal has been or can be taken, including through opposition, reexamination, reissue, disclaimer, inter partes review, post grant review, other post grant procedures or similar
proceedings; or (b) a pending patent application that has not been finally abandoned or finally rejected or expired and which has been pending for no more than seven (7) years. For clarity, a claim which issues after being pending for more
than seven (7) years from the date of the first substantive office action as described in (b) above shall be considered a Valid Claim as of the date of issuance. 

1.95 “Withdrawal Notice” has the meaning set forth in Section 2.7. 

1.96 “WW” hereunder means worldwide. 

 

	2.	 GOVERNANCE 

2.1 Joint Development Committees. The parties will establish one or more joint development and commercialization
committees (each a “JDCC”) to oversee and coordinate the development of all CAB Antibodies and Products in the Territory pursuant to this Agreement and to facilitate sharing of information from BioAtla regarding development
of CAB Antibodies in the ROW by BioAtla, sharing of information from Himalaya, its Affiliates and Licensees, to BioAtla, and between the Parties, regarding development of the CAB Antibodies and Products in the Territory. JDCCs will be established
with respect to any and all activities in the Territory under this Agreement, and any agreement providing or covering rights to each CAB Antibody or Product. Each JDCC shall include members from BioAtla and Himalaya. Upon sublicense of any CAB
Antibody, the Licensee shall be added as a member of the JDCC for such CAB Antibody, as the case may be. The initial JDCC shall be established as set forth below in 2.2, and any subsequent JDCC shall be established prior to each Transfer Date. 

2.2 JDCC Composition. Initially, each JDCC will be comprised of at least two members appointed by BioAtla and two
members appointed by Himalaya, which members shall be senior level employees of such party with decision-making authority. BioAtla and Himalaya will each notify the other of its initial JDCC members within fifteen (15) days of written
notification from Himalaya to BioAtla of preparedness to establish the JDC. Such notification shall name each party’s appointment its two members to the relevant JDCC. BioAtla, Himalaya, and the Licensee, as the case may be, through the JDCC,
may change the number of JDCC members as long as there are an equal number of members from each of the members on the JDCC. Each party may change its JDCC members at any time by written notice to the other party. Any member of the JDCC may designate
a substitute to attend and perform the functions of that member at any meeting of the JDCC. Himalaya shall appoint one of its JDCC members as chairman, whose role shall be to convene and preside at meetings of the JDCC, but the chairman shall not be
to cast any tie-breaking vote. JDCC members may invite a reasonable number of non-member, non-voting representatives of such
party to attend meetings of the JDCC. 

  
 9 

 2.3 JDCC Meetings. The JDCC will hold meetings at such frequency as
determined by the JDCC members, but no less than once each Calendar Quarter, unless otherwise reasonably agreed to by the parties. Such meetings may be conducted by videoconference, teleconference or in person, as agreed to by the parties;
provided, that no less than two (2) JDCC meetings each Calendar Year shall be in-person unless the members otherwise mutually agree. Minutes will be kept of all JDCC meetings and will reflect material
decisions made at such meetings. Meeting minutes will be prepared by BioAtla and sent to each member of the JDCC for review and approval promptly following each meeting. Minutes will be deemed approved unless a member of the JDCC objects to the
accuracy of such minutes within 15 days of receipt. Any costs and expenses incurred by each party related to a JDCC meeting, including, if applicable, travel and/or telecommunication expenses, shall be borne by Himalaya. 

2.4 JDCC Authority. The JDCC shall be responsible for oversight of the parties’ activities with respect to
development of CAB Antibodies, and Products in the Territory pursuant to this Agreement. Without limiting the foregoing, the JDCC shall: (a) share information about the development and commercialization of each CAB Antibody and Product by the
parties pursuant to the Development Plans and the Commercialization Plans in the Territory; (b) provide a forum for review and discussion of the Development Plans and the Commercialization Plans; (c) review amendments to the Development
Plans and the Commercialization Plans; (d) facilitate the exchange of Data between the parties; and (e) such other responsibilities as mutually agreed upon by the parties in writing on a case-by-case basis. For clarity, the JDCC is solely responsible for oversight and coordination of development and commercialization activities in the Territory under a relevant Development Plan and/or
Commercialization plan, as the case may be, and only after transfer at the Transfer Date of a CAB Antibody hereunder from BioAtla to Himalaya in the Territory. The JDCC has no oversight, or participation, in any development or commercialization
activity of any CAB Antibody hereunder in the Territory prior to such transfer by BioAtla, and no oversight, or participation, in any development or commercialization activity of any CAB Antibody in the ROW hereunder, at any time. 

2.5 JDCC Decision-Making. Decisions of the JDCC for matters within its decision-making authority shall be made by
unanimous vote, with BioAtla’s representatives to the JDCC collectively having one vote, Himalaya’s representatives to the JDCC collectively having one vote, and Licensee’s representatives to the JDCC collectively having one vote. If
the JDCC fails to reach unanimous agreement on such a matter for a period in excess of 30 days, the matter shall be referred to a senior officer of BioAtla and a senior officer of Himalaya, in his/her capacity as the designee of Himalaya, who shall
attempt in good faith to resolve such disagreement. Subject to Section 2.6 (and for so long as a Withdrawal Notice has not been issued or, if issued, not withdrawn pursuant to Section 2.7), if such disagreement has not been resolved within
30 days after being referred to such executives, Himalaya shall have final decision-making authority over all matters to be decided by the JDCC regarding development and commercialization of any CAB Antibody or Product in the Territory, however to
the extent such matter may impact the safety of the CAB Antibody in the ROW, BioAtla shall have final decision-making authority. For avoidance of doubt, BioAtla shall have final decision-making authority over all matters regarding development and
commercialization of any CAB Antibody or Product in ROW . Notwithstanding the foregoing, Himalaya shall have final decision-making authority over all matters to be decided by the JDCC regarding development and commercialization of any CAB Antibody
or Product exclusive to Himalaya worldwide. 
 2.6 Scope of Governance. The JDCC shall only have such powers as are
specifically assigned to it in this Agreement and such powers shall be subject to the terms and conditions set forth herein. Without limiting the generality of the foregoing, the JDCC shall have no power to amend this Agreement or expand or reduce
the rights of the JDCC or any Party hereunder, and no decision of the JDCC shall be in contravention of any terms and conditions of this Agreement. It is understood and agreed that issues to be formally decided by the JDCC are only those specific
issues that are expressly provided in this Agreement to be decided by the JDCC. 
 2.7 Withdrawal. At any time
during the Term and for any reason, BioAtla shall have the right to withdraw from participation in the JDCC upon written notice to Himalaya, which notice shall be effective immediately upon receipt (“Withdrawal Notice”).
Following the issuance of a Withdrawal Notice and subject to this Section 2.7, BioAtla’s representatives to the JDCC shall not participate in any meetings of the JDCC. If, at any time, following the issuance of a Withdrawal Notice, BioAtla
wishes to resume participation in the 

  
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JDCC, BioAtla shall notify Himalaya in writing and, thereafter, BioAtla’s representatives to the JDCC shall be entitled to attend any subsequent meeting of the JDCC as provided in this
Section 2.7 as if a Withdrawal Notice had not been issued by BioAtla. Following BioAtla’s issuance of a Withdrawal Notice, unless and until BioAtla resumes participation in the JDCC in accordance with this Section 2.7: (i) all
meetings of the JDCC shall be held at Himalaya’s facilities; and (ii) BioAtla shall have the right to continue to receive the minutes of the JDCC meetings, but shall not have the right to approve the minutes for any JDCC meeting held after
BioAtla’s issuance of a Withdrawal Notice. 
 2.8 Alliance Managers. Upon establishment of the JDCC, each
party shall appoint an individual to act as the alliance manager for such party (the “Alliance Manager”). Each Alliance Manager shall be responsible for alliance management between the parties on a day-to-day basis throughout the Term. Each Alliance Manager shall be permitted to attend meetings of the JDCC as non-voting
participants. The Alliance Managers shall be the primary contact for the parties regarding the activities contemplated by this Agreement and shall facilitate all such activities hereunder. Each party may replace its Alliance Manager with an
alternative representative at any time with prior written notice to the other party. Any Alliance Manager may designate a substitute to temporarily perform the functions of that Alliance Manager. Each Alliance Manager shall be charged with creating
and maintaining a collaborative work environment within the JDCC. 
 2.9 Worldwide Exlcusive Territory Antibodies.
Notwithstanding anything herein to the contrary, any CAB Antibody licensed to Himalaya hereunder worldwide shall not have a JDCC. Himalaya shall be solely responsible for the global development and commercialization of such CAB Antibodies, and shall
update BioAtla quarterly in writing about the progress of the development and commercialization of such CAB Antibodies. Himalaya shall use commercially reasonable efforts to diligently develop and commercialize all such CAB Antibodies. 

 

	3.	 DEVELOPMENT AND COMMERCIALIZATION 

3.1 CAB Antibody Format. Antibodies can have multiple antibody formats, including different formats for treating
different therapeutic indications. Examples of antibody formats include naked antibodies, antibody drug conjugates, bi-specific antibodies, or antibodies with different Fc functionality, among others. The
parties acknowledge that each CAB Antibody licensed hereunder is in a specific antibody format (a “CAB Antibody Format”) set forth in Exhibit A and Exhibit B attached hereto. Each CAB Antibody is only licensed under this
Agreement by BioAtla for the specified CAB Antibody Format, and no other antibody format. CAB Antibodies in any ACT format, including, without limitation, CAR-T CAB Antibodies, are specifically excluded from the grant of licenses by BioAtla under
this Agreement. 
 3.2 Development and Commercialization Plans. 

(a) CAB Antibody Development and Commercialization Activities. Subject to the terms and conditions of this Agreement,
Himalaya and BioAtla shall each diligently conduct the development activities in the Territory, and the ROW, for each CAB Antibody specifically as set forth in the applicable Development Plan, and the commercialization activities in the Territory
for each CAB Antibody specifically as set forth in the applicable CAB Antibody Commercialization Plan. No research, development, commercialization or any other activity shall be conducted on any CAB Antibody by Himalaya, other than as set forth in a
relevant Development Plan or Commercialization Plan. For clarity, and for all avoidance of any doubt, neither Himalaya nor any other Selling Party shall conduct, and neither Himalaya nor any other Selling Party shall grant any rights to any Third
Party to conduct, any activity on any CAB Antibody at any time, other than as set forth in a relevant Development Plan or a Commercialization Plan hereunder, including, for example, modification or evaluation of a CAB Antibody for any purpose other
than as set forth in a Development Plan or Commercialization Plan 
 (b) CAB Antibody Development
Plan(s). BioAtla and Himalaya will work together (through the JDCC) to mutually agree to a Development Plan prior to continued development in the Territory of each CAB Antibody. Each CAB Antibody shall have a Development Plan, and each
Development Plan shall set forth all development activities, including studies for each disease indication under the plan, timelines, and Third Party Service Providers required (if applicable). All Development Plans shall require 

  
 11 

 
BioAtla’s and Himalaya’s prior written approval in the Territory. The JDCC shall send BioAtla and Himalaya a draft of each Development Plan for review and written approval, and BioAtla
and Himalaya shall review and comment on each Development Plan within thirty (30) days of receipt. Work under each Development Plan shall commence no later than thirty (30) days of written approval of such plan, unless mutually agreed upon
in writing by the parties. Depending on the stage of transfer from BioAtla, each Development Plan may comprise the following stages (each a “Stage”) of development: Stage 1: Candidate selection, clone selection, working cell
bank production; Stage 2: process development, initiation of master cell bank; Stage 3: preclinical development and manufacturing; Stage 4: Animal models and biomarker studies; Stage 5: Clinical development including P1 Clinical Trials; Stage 6:
Clinical development including P2 Clinical Trials; Stage 7: Clinical development including P3 Clinical Trials; and Stage 8: NDA submission (or the equivalent) in the Territory. Each Development Plan shall set forth the timing and scope of the
transfer of the relevant CAB Antibody material, data and information from BioAtla to Himalaya, as well as the identification of the LEAD, if relevant. Each Development Plan shall further include timelines, and shall set forth specific criteria for
the generation of Data related to the CAB Antibody as a result of clinical studies conducted hereunder (the “Clinical Criteria”). Each approved Development Plan shall be attached to this Agreement as Exhibit C. 

(c) CAB Antibody Commercialization Plan(s). BioAtla and Himalaya will work together (through the JDCC) to
mutually agree to a Commercialization Plan prior to commercial launch of each Product in the Territory. Each Commercialization Plan shall include all commercialization related activities, including Third Party Service Providers required (if
applicable), a written launch plan describing, in reasonable detail, all planned and anticipated commercialization activities for commercial launch of each Product in the Territory, including estimated timelines with respect thereto. Each CAB
Antibody shall have a Commercialization Plan. All Commercialization Plans shall require BioAtla’s and Himalaya’s prior written approval. The JDCC shall send BioAtla and Himalaya a draft of each Commercialization Plan for review and written
approval, and BioAtla and Himalaya shall review and comment on each Commercialization Plan within thirty (30) days of receipt. Execution of each Commercialization Plan shall commence no later than thirty (30) days of written approval of
such plan. Each Commercialization Plan shall be attached to this Agreement as Exhibit D. 
 (d) Third Party Service
Providers. In accordance with each Development Plan and Commercialization Plan, Himalaya, or Licensee, may procure and utilize Third Party Service Providers to provide services in connection with development and/or commercialization of CAB
Antibodies and Products pursuant to this Agreement. Each Third Party Service Provider shall be required to execute contracts protecting all intellectual property related to each CAB Antibody and all confidential information and assigning all
Inventions developed in connection with such services to Himalaya (subject to further assignment as provided in Section 7.1(c) below). Himalaya agrees that BioAtla shall have the right to reject and/or require replacement of such Third Party
Service Providers to the extent BioAtla reasonably deems that use or continued use of such Third Party Service Providers may have a negative impact regarding (i) the quality of CAB Antibodies and Products developed and commercialized hereunder,
or (ii) protection of any developed Inventions. For clarity, Licensees shall not be considered Third Party Service Providers for purposes of this Section 3.2(c). 

(e) Commercially Reasonable Efforts. Himalaya shall use, and shall cause each Licensee and/or Selling Party to
use under a License Agreement or other agreement, its Commercially Reasonable Efforts to diligently perform the development and commercialization activities contemplated by this Agreement in accordance with each applicable Development Plan and
Commercialization Plan, in good scientific manner, and in accordance with the terms and conditions of this Agreement. 

(f) Transfer of each CAB Antibody. BioAtla shall deliver the Data Package (as defined below) for each CAB Antibody at
the Transfer Date (as defined below) to Himalaya. The “Data Package” shall include the Data (including the releant in-vitro and Animal POC Data, the IND submission documents and/or P1 Clinical Trial
Data) for each CAB Antibody to the extent such data is required for Himalaya to develop and commercialize the CAB Antibody or related Product under each Development Plan and Commercialization Plan. The transfer date for each CAB Antibody (the
“Transfer Date”) is set forth in Exhibit A and Exhibit B hereunder. Upon transfer, the Himalaya shall continue development in the Territory under each Development Plan and commercialization under each Commercialization Plan.
BioAtla shall develop each CAB Antibody through the relevant Transfer Date. Nothwithstanding the foregoing, in the 

  
 12 

 
event BioAtla, for reasons unrelated to the CAB Antibody data, but, for example, for strategic business reasons, decides to discontinue development of a CAB Antibody prior to the Transfer Date,
or delays development of a CAB Antibody under a Development Plan for longer than six (6) months (“Preclinical Development Termination”), BioAtla shall notify Himalaya within thirty (30) days of such termination of the development
of the CAB Antibody, and fifteen (15) days from the date of such notice shall become the new Transfer Date for such CAB Antibody. BioAtla shall transfer the existing Data Package for such CAB Antibody subject to a Preclinical Development
Termination, and Himalaya shall have the right, but not the obligation, to continue development under the Development Plan and commercialization under the Commercialization Plan for such CAB Antibody. BioAtla shall further transfer any technology
required by Himalaya to continue development under the Development Plan and commercialization under the Commercialization Plan for the CAB Antibody subject to such Preclinical Development Termination in the Data Package, including any rights related
to the required technology, solely to the extent required for Himalaya to develop and commercialize the CAB Antibody subject to such Preclinical Development Termination. Payments and the new Territory for any CAB Antibody subject to a Preclinical
Development Termination shall be as set forth below in Exhibit G. 
 (g) In the event Third Party technologies or
rights, not related solely to the CAB Antibody, are required for Himalaya’s manufacturing of the CAB Antibody as provided for hereunder, for example cell lines, or for a linker payload technology for any ADC, Himalaya shall be responsible for
such license, including any fees, and BioAtla will secure such rights from such Third Party under its own relationships for access to such rights from such Third Party. 

(h) BioAtla Development of Products. BioAtla shall be solely responsible for developing and commercializing any Product
in the ROW, and shall be entitled to conduct any preclinical or clinical development for Products in the Territory. 
 3.3
Amendments to Development Plans or Commercialization Plans. Either party may submit to the other party proposed amendments to the Development Plans or Commercialization Plans as it considers necessary or appropriate, and any material amendment
to a Development Plan or Commercialization Plan shall be subject to the applicable JDCC’s, BioAtla’s and Himalaya’s written approval as provided hereunder. 

3.4 New Option Antibodies Designation, Selection Process & Option Exercise. BioAtla shall provide
written notice to the JDCC identifying its designation of a lead candidate (“LEAD”) for a New Option Antibody (from the New Option Antibodies listed in Exhibit B). Within thirty (30) days of the JDCC’s receipt of such notice from
BioAtla (the “Selection Period”), Himalaya shall notify the JDCC, and the JDCC shall immediately notify BioAtla, in writing, that it is exercising its option to the individual New Option Antibody hereunder (“Selection Notice”).
Provided that Himalaya provides such notice to BioAtla prior to expiration of the Selection Period, the New Option Antibodies selected by Himalaya shall be included under this Agreement as New Option Antibody as of the date of such notice to
BioAtla. For clarity, a New Option Antibody provided by BioAtla in a notice provided pursuant to this Section that is not selected by Himalaya as a New Option Antibody in a written notice provided to BioAtla prior to the expiration of the applicable
Selection Period shall not be a New Option Antibody. BioAtla shall have no further obligations under this Agreement to re-offer such New Option Antibody to Himalaya, but it may do so if both parties mutually
agree in writing to do so. Further, at any time during the Term, Himalaya may propose in writing to BioAtla a New Option Antibody developed in the Territory. Within thirty (30) days of receipt of the written proposal from Himalaya, BioAtla
shall notify Himalaya if the New Option Antibody remains available in the Territory. Upon Himalaya’s receipt of such notification from BioAtla, the New Option Antibody that is the subject of a positive notice shall constitute a New Option
Antibody hereunder. Thereafter, the JDCC shall agree to a Development Plan and a Commercialization Plan as set forth hereunder. 

3.5 [***] Lead Designation. BioAtla shall notify Himalaya upon designation of a LEAD candidate for [***] (“[***]
Lead Designation Notice”). BioAtla shall include its decision whether or not to advance development of the [***] LEAD in the Lead Designation Notice. In the event BioAtla decides not to advance development of the [***] LEAD in the ROW in the
[***] Lead Designation Notice, BioAtla shall simultaneously transfer to Himalaya the [***] LEAD and the relevant Data Package required for Himalaya to advance development and commercialization of the [***] in the Territory. If by [***], BioAtla has
not advanced the [***] to a LEAD stage, Himalaya, shall have the right (but not the obligation) to notify BioAtla in writing of its desire to fund development of the [***] to a LEAD stage, the parties shall agree on a Development Plan for BioAtla to
develop the [***] to the LEAD stage, and Himalaya shall pay BioAtla as set forth hereunder. BioAtla shall transfer the Data Package for the LEAD to Himalaya upon completion of the work as set forth under the Development Plan. 

 
  

[***] Certain information in this document identified by brackets has been omitted because it is both (i) not material and (ii) would be competitively
harmful if publicly disclosed. 

  
 13 

 3.6 [***] Lead Designation. BioAtla shall notify Himalaya upon
designation of a LEAD candidate for [***] (“[***] Lead Designation Notice”). BioAtla shall include its decision whether or not to advance development of the [***] LEAD in the Lead Designation Notice. In the event BioAtla decides not to
advance development of the [***] LEAD in the ROW, BioAtla shall simultaneously transfer to Himalaya the [***] LEAD and the relevant Data Package required for Himalaya to advance development and commercialization of the [***] in the Territory. If by
[***], BioAtla has not advanced the [***] to a LEAD stage, Himalaya, shall have the right (but not the obligation) to notify BioAtla in writing of its desire to fund development of the [***] to a LEAD stage, the parties shall agree on a Development
Plan for BioAtla to develop the [***] to the LEAD stage, and Himalaya shall pay BioAtla as set forth hereunder. BioAtla shall transfer the Data Package for the LEAD to Himalaya upon completion of the work as set forth under the Development Plan.

 3.7 Development, Manufacturing Commercialization. 

(a) Development and Commercialization. Himalaya (itself or through its Affiliates, Licensees or other Selling Parties)
shall be responsible, at its, or their, sole cost and expense, for all (i) development activities with respect to licensed, or sublicensed, CAB Antibodies and Products in the Territory, and (ii) commercialization activities with respect to
Products in the Territory. Himalaya shall use, and shall cause its Affiliates, Third Party Service Providers, Licensees and/or other Selling Parties to use Commercially Reasonable Efforts to diligently develop all CAB Antibodies and all Products in
the Territory, to diligently file for and obtain Regulatory Approval of Products in the Territory, and, after such Regulatory Approval is obtained, to diligently commercialize applicable Products in the Territory. The development activities shall
comprise, at a minimum, the following activities: 
 (i) Provide BioAtla with annual forecasts of funding required for the
development, manufacture and sale of Products beginning on the first anniversary of the Effective Date; 
 (ii) Fully fund the
development of Products for Regulatory Approval as set forth under each Development Plan and each Commercialization Plan; 
 (iii)
Timely pay all patent prosecution and maintenance costs in the Territory; and 
 (iv) If Himalaya fails to perform any of its
obligations as specified herein with respect to any particular CAB Antibody on the timelines set forth in the Development and/or Commercialization Plans as applicable, then BioAtla shall have the right and option to either terminate this Agreement
or change the grant of rights to Himalaya to any such CAB Antibody from exclusive to non-exclusive if it has notified Himalaya of its intent to do so and the reason and Himalaya has not cured such failure
within sixty (60) days. This right, if exercised by BioAtla, supersedes the rights granted in Paragraph 4.1 below. Upon such event, Himalaya hereby covenants and agrees to assign to BioAtla all right and title to all data and information
generated and related to the CAB Antibody and all Intellectual Property Rights related thereto developed by or on behalf of Himalaya and the other Selling Parties. 

(b) Manufacturing in the Territory. The Parties shall negotiate in good faith a supply agreement for the manufacture by
either party of any Product developed by Himalaya. Material shall be supplied at direct cost by either party to the other party. For avoidance of all doubt, no manufacturing development or overhead costs shall be charged by the supplying party, and
third party service providers may be used. 
  
  

[***] Certain information in this document identified by brackets has been omitted because it is both (i) not material and (ii) would be competitively
harmful if publicly disclosed. 

  
 14 

 (c) Records and Reports. Each party shall maintain records, in
sufficient detail and in good scientific manner appropriate for patent and regulatory purposes, which shall fully and properly reflect all work done and results achieved by or on behalf of such party in the performance of development and
commercialization activities contemplated by this Agreement. 
 3.8 Disclosure Regarding Development and Commercialization
Efforts. 
 (a) Development Efforts. The parties will share information, directly or through the JDCC, about the
development and commercialization of CAB Antibodies and Products in the Field in the Territory, and in the event BioAtla develops and commercializes a CAB Antibody in the ROW itself, it shall share its Data and other information related to such
development in ROW solely to the extent the Data or other information assists Himalaya or any Licensee to develop and commercialize a CAB Antibody and/or Product in the Territory under a Development Plan or Commercialization Plan. Following
completion of the applicable Development Plan for a CAB Antibody, Himalaya will update BioAtla on a regular basis (but no less than every thirty (30) days during the Term) regarding the development of CAB Antibodies and Products in the Field in
the Territory by any Licensee, their Affiliates and Third Party Service Providers. Activities related to clinical development, including, but not limited to, commencement and status of any clinical trials, the filing of any submissions or
communications with applicable Regulatory Authorities and the receipt of Regulatory Approval in the Territory shall be reported immediately upon submission or receipt thereof to Himalaya and BioAtla. For a period ending on the tenth anniversary of
the Effective Date, Himalaya shall reasonably assist BioAtla in its development of each Product and, under a separate services agreement to be attached hereto as Exhibit F, other pharmaceutical products as BioAtla shall request from time to time; it
being understood and agreed that Himalaya shall be reimbursed for use of its personnel at a full-time equivalent rate to be mutually agreed by the Parties plus [***]%. 

(b) Commercialization Efforts. Himalaya shall provide (or shall cause its Affiliates or other Selling Parties to
provide) to BioAtla with a written report, every six (6) months during each Calendar Year during the Term, describing, in reasonable detail, commercialization activities undertaken by Himalaya, Licensee, its Affiliates and other Selling Parties
and Third Party Service Providers with respect to Products in the Territory, the results achieved since the last report and activities planned for the subsequent Calendar Year, and shall update BioAtla throughout such Calendar Year with respect to
any material changes thereto, including material developments that might adversely impact the continued development or commercialization of one or more Products in the Territory. Throughout the Term, Himalaya shall provide (or shall cause its
Affiliates or other Selling Parties or Third Party Service Providers to provide) to BioAtla prior written notice of any recall of Products in the Territory during the Term, which notice shall contain reasonable detail of the nature and scope of such
recall. 
 3.9 Ownership of Data; Cooperation. All Data generated in connection with the development and
commercialization of CAB Antibodies or any Product by BioAtla and its Affiliates, licensees, and any Licensees shall be the sole and exclusive property of BioAtla or its Affiliates and shall be considered BioAtla Know How, and Himalaya hereby
assigns, and shall cause its Affiliates, employees, consultants, Selling Parties, agents, or independent contractors to assign, to BioAtla, such person’s or entity’s right, title and interest in and to any such Inventions, and intellectual
property rights therein, as is necessary to enable BioAtla to fully effect the ownership of Inventions, and intellectual property rights therein, as provided for in this Agreement. Himalaya shall also include provisions in its relevant agreements
with Third Party Service Providers performing activities on its behalf pursuant to this Agreement, that effect the intent of this Section 3.6. Himalaya agrees to provide reasonable cooperation to BioAtla, and shall cause its Affiliates,
employees, consultants, Selling Parties, agents, or independent contractors to, cooperate with BioAtla and take all reasonable additional actions and execute such agreements, instruments and documents as may be reasonably required to perfect
BioAtla’s right, title and interest in and to Inventions, and intellectual property rights therein, as set forth in this Agreement, including by executing and delivering all documents reasonably required to evidence or record any assignment
pursuant to this Agreement. 
 3.10 Materials Transfer. In order to facilitate the development activities contemplated
by this Agreement, BioAtla may provide to Himalaya, its Licensees or Affiliates or other Selling Parties or Third Party Service Providers, or Himalaya may provide to BioAtla on behalf of its Licensees or Affiliates or Third Party Service Providers,
certain biological materials or chemical compounds Controlled by the supplying party 
  

 
 [***] Certain information in this
document identified by brackets has been omitted because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed. 

  
 15 

 
(collectively, “Materials”) for use by the receiving party solely in furtherance of such development activities. For clarity, such Materials do not include
the CAB Antibodies provided by BioAtla hereunder or under any License Agreement. Except as otherwise provided for under this Agreement, all such Materials delivered to a party will remain the sole property of the supplying party, will be used only
in furtherance of the development activities conducted in accordance with this Agreement, will not be used or delivered to or for the benefit of any Third Party, except for subcontractors or Third Party Service Providers, without the prior written
consent of the supplying party, and will be used in compliance with all applicable laws, rules and regulations. The Materials supplied under this Agreement must be used with prudence and appropriate caution in any experimental work because not all
of their characteristics may be known. Except as expressly set forth in this Agreement, THE MATERIALS ARE PROVIDED “AS IS” AND WITHOUT ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION ANY IMPLIED WARRANTY OF
MERCHANTABILITY OR OF FITNESS FOR ANY PARTICULAR PURPOSE OR ANY WARRANTY THAT THE USE OF THE MATERIALS WILL NOT INFRINGE OR VIOLATE ANY PATENT OR OTHER PROPRIETARY RIGHTS OF ANY THIRD PARTY. 

3.11 Adverse Event Reporting; Pharmacovigilance Agreement. As between the parties: (a) BioAtla shall
be responsible for the timely reporting of all relevant adverse drug reactions/experiences, Product quality, Product complaints and safety Data relating to Products to the appropriate Regulatory Authorities in the ROW; and (b) except as
otherwise agreed in writing by BioAtla and Himalaya, Himalaya shall be responsible for the timely reporting of all relevant adverse drug reactions/experiences, Product quality, Product complaints and safety Data relating to Products to the
appropriate Regulatory Authorities in the Territory; all in accordance with applicable laws, rules and regulations of the relevant countries and Regulatory Authorities in the Territory. The parties shall enter into a pharmacovigilance agreement
(“Safety Agreement”) which shall be negotiated and attached hereto as Exhibit E, on terms that comply with ICH guidelines, including: (i) providing detailed procedures regarding the maintenance of core safety information
and the exchange of safety Data relating to Products worldwide within appropriate timeframes and in an appropriate format to enable each party to meet both expedited and periodic regulatory reporting requirements; and (ii) ensuring compliance
with the reporting requirements of all applicable Regulatory Authorities on a worldwide basis for the reporting of safety Data in accordance with standards stipulated in the ICH guidelines, and all applicable regulatory and legal requirements
regarding the management of safety Data. 
  

	4.	 License Rights. 

4.1 Exclusive License by BioAtla to Himalaya in the Territory. Subject to the terms and conditions of this
Agreement (including the rights retained by BioAtla pursuant to Sections 3.2, 3.6, 4.3 and 7.9), BioAtla hereby grants to Himalaya, during the Term, an exclusive license under the BioAtla Intellectual Property solely to the extent required to
develop, manufacture, conduct clinical trials, obtain Regulatory Approval of, make, have made, use, import, offer for sale and sell Products in the Field in the Territory; it being understood and agreed the license granted pursuant to this
Section 4.1 includes the right of Himalaya to (i) use, make reference to and incorporate Clinical Data in filings with Regulatory Authorities in the ROW by BioAtla, solely for the purpose of obtaining Regulatory Approval for Products in
the Field in the Territory and (ii) cross-reference filings made by BioAtla with applicable Regulatory Authorities in the ROW solely for the purpose of obtaining Regulatory Approval for Products in the Field in the Territory. 

4.2 Licenses and Sublicenses by Himalaya to a Third Party. 

(a) Terms of Licenses to CAB Antibodies by Himalaya to a Third Party. Himalaya shall have the right to grant licenses
under the Himalaya Intellectual Property to a CAB Antibody (each a “License”) to a Third Party (a “Licensee”), solely to the extent required by that Third Party to develop, conduct clinical trials,
obtain Regulatory Approval of, make, have made, use, import, offer for sale and sell Products in the Field in the Territory; provided, that all Licenses shall be subject to the prior written approval of BioAtla in each instance which approval shall
not be unreasonably withheld and which approval shall be provided within thirty (30) days of receipt of such agreement by BioAtla for approval from Himalaya. Further, subject to this Section 4.2, Himalaya shall have the right to sublicense
rights to a CAB Antibody under the Himalaya Intellectual Property (“Sublicense”) to a Third Party service provider, solely to the extent 

  
 16 

 
required by such Third Party service provider to provide services to Himalaya necessary to develop, conduct clinical trials, obtain Regulatory Approval of, make, have made, use, import, offer for
sale and sell Products in the Field in the Territory; provided, that all sublicensed rights to any Licensee shall: (i) be set forth in a written agreement in a form to be agreed to in writing between the parties (each such agreement, a
“Service Agreement”); (ii) not allow the further sublicense of such rights to another party other than as permitted in the Service Agreement; and (iii) be subject to the prior written approval of BioAtla in each
instance. 
 (b) Terms of Sublicenses to BioAtla Know-How by Himalaya to a Third
Party. Subject to this Section 4.2 and 10.6, Himalaya shall have the right to sublicense rights under the BioAtla Know-How, solely to a Licensee, and solely to the extent required to develop, conduct
clinical trials, obtain Regulatory Approval of, make, have made, use, import, offer for sale and sell Products in the Field in the Territory to any Third Party. 

4.3 Exclusive License of Himalaya Intellectual Property to BioAtla for ROW. Subject to the terms and conditions of this
Agreement, Himalaya hereby grants to BioAtla: 
 (a) an exclusive (even as to Himalaya, its Affiliates, Licensees and
Third Party service providers), royalty-free, fully-paid, irrevocable, perpetual license, with the right to sublicense through multiple tiers of sublicense, under the Himalaya Intellectual Property to develop, conduct clinical trials, obtain
Regulatory Approval, make, have made, use, import, offer for sale and sell Products in the Field in the ROW (the “ROW License”); 

(b) a non-exclusive, royalty-free, fully-paid, license under the Himalaya
Intellectual Property as necessary for BioAtla to perform, and have performed, its obligations under this Agreement; and 

(c) the ROW License includes the right of BioAtla to (i) use, make reference to and incorporate Clinical Data in
filings with Regulatory Authorities in the Territory solely for the purpose of obtaining Regulatory Approval for Products in the Field in the ROW and (ii) cross-reference filings made by Himalaya with applicable Regulatory Authorities in the
Territory solely for the purpose of obtaining Regulatory Approval for Products in the Field in the ROW. Himalaya shall obtain from its Affiliates and Third Party Service Providers all rights necessary for Himalaya to grant the ROW License and other
rights granted to BioAtla under this Agreement. 
 4.4 Limitations. 

(a) Limitations on Himalaya. Himalaya hereby covenants and agrees that it shall not, and shall cause its Affiliates and
Third Party Service Providers not to, (i) develop, conduct clinical trials, make, have made, or obtain Regulatory Approvals for Products in the ROW, or (ii) offer for sale or sell any Product to customers in the ROW or to any Third Party
in the Territory that Himalaya has reasonable grounds to believe is likely to export any Product in the ROW. If Himalaya becomes aware that a Third Party is exporting Products acquired from Himalaya or its Affiliates or Third Party service providers
to a country in the ROW, then Himalaya shall use Commercially Reasonable Efforts within its legal rights and the remedies afforded by applicable laws to stop or deter such Third Party from continuing such exportation, including by ceasing or
limiting the supply of the Product to such Third Party. All inquiries or orders received by Himalaya or its Affiliates or Third Party service providers for Products to be delivered or distributed in the ROW shall be referred to BioAtla or its
designee. 
 (b) Limitations on BioAtla. To the extent not otherwise prohibited by law, BioAtla hereby covenants and
agrees that it shall not, and shall cause its Affiliates and Licensees not to, offer for sale or sell any Product to customers in the Territory or to any Third Party that BioAtla has reasonable grounds to believe are likely to import any Product in
the Territory. If BioAtla becomes aware that a Third Party is exporting any Product acquired from BioAtla or its Affiliates or Licensees to the Territory, then BioAtla shall use Commercially Reasonable Efforts within its legal rights and the
remedies afforded by applicable laws to stop or deter such Third Party from continuing such exportation, including by ceasing or limiting the supply of such Product to such Third Party. All inquiries or orders received by BioAtla or its Affiliates
for Products to be delivered or distributed in the Territory shall be referred to Himalaya or its designee. 

  
 17 

 4.5 No Implied License. No right or license under any
intellectual property rights of a party is granted or shall be granted by implication to the other party, and each party agrees not to practice any intellectual property rights of any other party except pursuant to the licenses expressly granted in
this Agreement or any other written agreement between the parties. All such rights or licenses are or shall be granted only as expressly provided in the terms of this Agreement or such other written agreement between the parties. 

4.6 No Other CAB Antibody Rights or BioAtla Intellectual Property. It is understood that Himalaya shall not have any
rights to any other CAB antibody or any BioAtla Intellectual Property, except as expressly permitted by this Agreement. Further, Himalaya shall not have the right to conduct, or to grant any right to conduct, any activity on any CAB Antibody other
than as set forth in a Development Plan, including the right to evaluate any CAB Antibody for any purpose other than as set forth in a Development Plan. Any and all rights granted in any License Agreement, shall be consistent with, the terms and
conditions of this Agreement. Further, Himalaya shall be responsible for the compliance of its Affiliates and Third Party service providers and Licensees with the terms and conditions of this Agreement. Within 30 days of execution, Himalaya shall
provide BioAtla with a full and complete copy of each Third Party service provider agreement, executed License Agreement. 

4.7 Reserved Rights. Subject to the restrictions hereunder, and the rights expressly granted hereunder to the other
party, each party reserves all rights to practice, and to grant licenses under, its intellectual property rights for any and all purposes, including to develop, conduct clinical trials of, obtain Regulatory Approval for, make, have made, use,
import, offer for sale and sale of Products, for Himalaya in the Field in the Territory, and for BioAtla in the ROW, in accordance with this Agreement 

4.8 Diligence. Himalaya will use Commercially Reasonable Efforts to develop (including toseek Regulatory Approval for)
and market at least one (1) Product in one (1) country for each CAB Antibody licensed. Except as provided in this Section 4.7, Himalaya will have no other diligence obligations with respect to the development or Regulatory Approval of
Products under this Agreement. For avoidance of doubt, any actions taken by Hiamalaya’s Affiliates or Sublicensees under this Agreement shall be treated as actions taken by Himalaya in regard to satisfaction of the requirements of this
Section 4.7. 
  

	5.	 PAYMENTS; RECORDS; AUDITS 

5.1 In partial consideration for the rights and licenses granted hereunder, Himalaya shall be responsible for, and/or
make the following payments to BioAtla: 
 (a) Development and Commercialization Payments/Costs. 

(i) For each Initial CAB Antibody, Himalaya shall make the payments to BioAtla and shall bear Costs of Development under, and in
accordance with, each Development Plan, and Costs of Commercialization in accordance with each Commercializatoin Plan. For each Initial CAB Antibody, such payments and costs shall specifically include the payments and costs as set forth in Exhibit G
attached hereto and made a part hereof; 
 (ii) In the event Himalaya exercises its option to license a New Option Antibody as set
forth under 3.2(h), Himalaya shall make the payments to BioAtla and shall bear Costs of Development under, and in accordance with, each Development Plan, and Costs of Commercialization in accordance with each Commercializatoin Plan. For each New
Option Antibody, such payments and costs shall specifically include the payments and costs as set forth in Exhibit G attached hereto and made a part hereof; 

(iii) Royalty. Himalaya shall pay BioAtla, on a
country-by-country basis for each Calendar Quarter during the applicable Royalty Term, the lower of (a) a [***] royalty on annual Net Sales of Products for each
Product and (b) in the event Himalaya licenses the rights to commercialize the Products in any country in the Territory to a Third Party, [***] of the royalties or other comparable payments (based upon sales of Products) received by Himalaya
from such Third Party in such country; and 
  
  

[***] Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be competitively
harmful if publicly disclosed. 

  
 18 

 (iv) Other CAB Antibody Payments. Subject to other payments due
hereunder, and subject to (i) Himalaya being a publicly traded company on any stock exchange, or (ii) Himalaya experiencing a Change of Control, Himalaya shall pay BioAtla either (i) [***] of any Milestone Payment received for each CAB
Antibody under a Sublicense, or (ii) if Himalaya or any Affiliate develops and commercializes Products itself, the development and sales milestone payments that are set forth in Exhibit G for each CAB Antibody. For clarity, each milestone set
forth in Exhibit G shall be due and payable one time only (regardless of the number of Products to achieve any such development and sales milestone event within the Territory). 

5.2 Payment Reports and Payments. Himalaya shall, at the time of payment of any amounts pursuant to
Section 5.1 (and Exhibit G), deliver to BioAtla any reports of Himalaya, or reports received by Himalaya from a Licensee of Himalaya related to such payments, in addition to any other information requested by BioAtla with respect to such
payments and the calculation thereof. 
 5.3 Records. Himalaya shall maintain, and shall obligate its Affiliates,
Licensees and other Selling Parties and their Affiliates to maintain, complete and accurate records of Products made, used or sold by them under this Agreement, and any amounts payable to BioAtla in relation to Products, which records shall contain
sufficient information to confirm the accuracy of any reports delivered to BioAtla hereunder. Himalaya shall retain, and shall obligate its Affiliates, Licensees and other Selling Parties to retain, such records relating to each Calendar
Quarter for three (3) years after the end of that Calendar Quarter. 
 5.4 Audits. Either party
(acting as the “Auditing Party”) shall have the right, at its own expense, to cause an internationally recognized, independent certified public accountant reasonably acceptable to the other party (the
“Auditor”) to inspect such records of the other party, including in the case of Himalaya, records of Himalaya, its Affiliates, Licensees, and other Selling Parties (the “Audited
Party”) during normal business hours for the sole purpose of verifying any reports and payments delivered under this Agreement. The Auditor shall not disclose to the Auditing Party any information other than information relating to
accuracy of reports and payments delivered under this Agreement and shall provide the Audited Party with a copy of any report given to the Auditing Party. If the Auditor concludes from the inspection that any payments under Section 5.1
have been underpaid, the Auditor shall report that conclusion to both parties, and Himalaya or BioAtla, as applicable as the Audited Party, shall have sixty (60) days in which to review the details of the Auditor’s report with the Auditor
in order to resolve the asserted discrepancy. The Audited Party shall pay the amount of any underpayment plus interest on such amount computed pursuant to this Agreement within (a) thirty (30) days after the Auditor first delivers the
results of the audit, to the extent that the Audited Party agrees with the Auditor’s report, or (b) fifteen (15) days after the end of the sixty (60) day review period and the issuance of a confirming report by the Auditor that the
Auditor continues to conclude that payments under Section 5.1 remain unpaid, to the extent the Audited Party disagrees with the Auditor’s report. The Auditing Party shall bear the full cost of the audit unless the audit performed
under this Section reveals an underpayment in excess of five percent (5%) of the amount paid in any quarter, in which case the Audited Party shall bear the full cost of such audit. The Auditing Party may exercise its rights under this Section
only once every year and only with reasonable prior notice to the Audited Party. 
  

	6.	 EXCHANGE RATE; TAXES; LATE
PAYMENTS 

 6.1 Exchange Rate; Manner and Place of Payment. All references to
dollars and “$” herein shall refer to U.S. dollars. All payments hereunder shall be payable in U.S. dollars unless expressly noted otherwise. When conversion of payments from any currency other than U.S. dollars is required, such
conversion shall be at an exchange rate equal to the weighted average of the rates of exchange for the currency of the country from which such payments are payable as published by The Wall Street Journal, Western U.S. Edition (the
“Wall Street Journal”), during the Calendar Quarter in which the applicable sales were made (with respect to payments related to Net Sales) and during the 5 business days preceding the payment for all other payments. All
payments owed under this Agreement shall be made by wire transfer in immediately available funds to a bank account designated in writing by the receiving party, unless otherwise specified in writing by such party. 

 
  

[***] Certain information in this document identified by brackets has been omitted because it is both (i) not material and (ii) would be competitively
harmful if publicly disclosed. 

  
 19 

 6.2 Tax Withholding. All payments hereunder shall be due and
payable net of taxes paid in the Territory. For clarity, each Upfront and Milestone payment to BioAtla shall be calculated based on the gross amount before any local tax witholdings, and any Royalty payments shall be based on the gross Net Sales
before any local tax witholdings. For clarity, Himalaya shall be fully obligated to pay for any and all Territory taxes related to such payment. Himalaya shall not deduct any Territory tax due from any payment, and shall be fully obligated for any
such Territory taxes. 
 6.3 Late Payments. In the event that any payment due under this Agreement is not sent to the
party entitled to receive such payment when due in accordance with the applicable provisions of Section 5, the payment shall accrue interest from the date due at a rate equal to eight percent (8%) per annum, compounded monthly. The payment of
such interest shall not limit the party entitled to receive payment from exercising any other rights it may have as a consequence of the lateness of any payment and in all cases shall be adjusted downward to reflect the maximum rate then legally
permissable. 
  

	7.	 INTELLECTUAL PROPERTY 

7.1 Ownership of Intellectual Property. 

(a) New Patent Rights. Subject to Section 7.1(b), Himalaya shall own all right, title and interest in and to New
Patent Rights in the Territory and BioAtla shall own all right, title and interest in and to New Patent Rights in the ROW for inventions developed by and on behalf of such party. To the extent Himalaya, its Affiliates, Licensees, or Third Party
Service Providers and their respective personnel or agents or Affiliates are deemed to have an inventive contribution to the Inventions under New Patent Rights contemplated to be owned by BioAtla pursuant to this Section 7.1, or other rights,
title or interest within or to such Inventions, Himalaya hereby assigns, and shall cause to be promptly assigned, all of its, its Affiliates’, Licensees’, and Third Party Service Providers’ and their Affiliates’ rights, title and
interest in and to such Inventions to BioAtla in the ROW. To the extent BioAtla is deemed to have an inventive contribution to the Inventions under New Patent Rights contemplated to be owned by Himalaya by this Section 7.1, or other rights,
title or interest within or to such Inventions, BioAtla hereby assigns, its rights, title and interest in and to such Inventions to Himalaya in the Territory. 

(b) Composition of Matter/Method of Use Patents in the ROW. BioAtla shall own all right, title and interest to the
Composition of Matter/Method of Use Patents in the ROW. 
 (c) Composition of Matter Patents in the Territory. Subject
to Himalaya making all payments due for a CAB Antibody, hereunder BioAtla shall assign i) patents and/or patent applications specifically directed to CAB Antibody compositions (“CAB Antibody Compositions”), and ii) patents and/or patent
applications specifically directed to methods of use/treatment using a CAB Antibody Composition, transferred under a Development Plan under this Agreement, solely in the Territory (“Composition Patents”), to Himalaya, using the form of
assignment set forth in Exhibit H hereto, at the time of filing of such patents and/or patent applications in the Territory. Simultaneously with such assignment, Himalaya shall also sign, an assignment to BioAtla for BioAtla’s use in the event
of a Default as set forth in paragraph 7.1 (e) below (the “Default Assignment”) set forth in Exhibit I. 
 (d)
Ownership of Data and Know-How. All (a) Data generated in connection with the development of each CAB Antibody and each Product under a Development Plan by Himalaya, its Affiliates, Licensees, and
Third Party Service Providers, and their Affiliates (the “Clinical Data”) and (b) Know-How generated in connection with the development of each CAB Antibody and each Product under
a Development Plan by Himalaya, its Affiliates, Licensees, and Third Party Service Providers, and their Affiliates shall be the sole and exclusive property of BioAtla and shall be considered BioAtla Know How, and Himalaya, hereby assigns, and shall
cause its Affiliates, Licensees, and Third Party Service Providers, and their Affiliates to promptly assign, all of its and their rights, title and interest in and to such Clinical Data and Know-How to
BioAtla. 

  
 20 

 (e) Default Event. In the event Himalaya, its Affiliates, Licensees
and Third Party Service Providers, and/or their Affiliates: i) deviate from agreed upon activities set forth under a Development Plan, including, but not limited to the agreed upon timelines or agreed upon funding set forth under such Development
Plan; ii) terminates, discontinues or abandons the development or commercialization, or funding of such development or commercialization, of a CAB Antibody and/or Product in the Territory; iii) fails to make any payment related to patent costs; or
iv) undertakes any action in the Territory which challenges the validity, scope or enforceability of or otherwise opposes any BioAtla Patent Rights (each a “Default Event”), then BioAtla shall provide written notice of such
default to Himalaya, and Himalaya shall provide written notice of such default to the applicable Affiliate, Licensees, Third Party Service Provider, or their Affiliate. Himalaya shall have forty (40) days in which to cure such default, or cause
such default to be cured. In the event Himalaya fails to cure such default, or cause such default to be cured, within such forty (40) day period, Himalaya hereby transfers to BioAtla, and shall cause all Affiliates, Licensees, Third Party
Service Providers, and their Affiliates, all right, title and interest in such event, in the Composition/Method of Use Patents and Data, including Clinical Data, in the Territory, and BioAtla shall have the right to terminate this Agreement with
immediate effect. 
 7.2 Prosecution and Maintenance of Composition/Method of Use Patents, Patent Rights and New Patent
Rights. BioAtla shall have the first right, but not the obligation, to control and manage the preparation, filing, prosecution and maintenance of all Composition/Method of Use Patents and New Patent Rights (collectively “CAB
Patent Rights”), subject to this Section 7.2. Himalaya shall, or shall cause the applicable Licensees to, reimburse BioAtla for all external patent fees and costs incurred with respect to preparation, filing, prosecution and
maintenance of CAB Patent Rights in the Territory within 30 days from the date of invoice for such costs and expenses by BioAtla. BioAtla shall keep Himalaya, or the applicable Licensee, reasonably informed of progress with regard to the
preparation, filing, prosecution and maintenance of all CAB Patent Rights, including content, timing and jurisdiction of the filing and prosecution of such CAB Patent Rights, and shall consult with, and consider in good faith the requests and
suggestions of, Himalaya with respect to filing and prosecuting CAB Patent Rights. In the event that BioAtla desires to not file, abandon or cease prosecution or maintenance of any CAB Patent Right, BioAtla shall provide reasonable prior written
notice to Himalaya, or the applicable Licensee, of such intention to abandon (which notice shall, to the extent possible, be given no later than 60 days prior to the next deadline for any action that must be taken with respect to any such CAB Patent
Right in the relevant patent office in the Territory). In such case, at Himalaya’s, or the applicable Licensee’s, sole discretion and upon written notice to BioAtla, Himalaya, or the applicable Licensee, may elect to continue prosecution
and/or maintenance of any such CAB Patent Right in BioAtla’s name, at Himalaya’s sole cost and expense and by counsel of Himalaya’s or the applicable Licensee’s choice, and BioAtla shall take such actions, at Himalaya’s or
the applicable Licensee’s expense, as may be reasonably necessary to enable Himalaya or the applicable Licensee to do so. In such event, Himalaya or the applicable Licensee shall keep BioAtla reasonably informed on matters regarding such
prosecution and maintenance. 
 7.3 Cooperation of the Parties. Each party agrees, and Himalaya will cause the
applicable Licensees, or Third Party Service Provider to agree, to cooperate fully in the preparation, filing, prosecution and maintenance of CAB Patent Rights under Section 7.2 and in the obtaining and maintenance of any patent extensions,
supplementary protection certificates and the like with respect thereto respectively at its own costs. Such cooperation includes: (a) executing all papers and instruments, or requiring its employees or contractors, to execute such papers and
instruments, so as to enable the other party to apply for and to prosecute patent applications in any country as permitted by Section 7.2; and (b) promptly informing the other party of any matters coming to such party’s attention that
may affect the preparation, filing, prosecution or maintenance of any such patent applications and patents issuing therefrom. 

7.4 Hold Harmless. During the term of this Agreement, Himalaya shall hold BioAtla harmless from and against claims by
Himalaya of infringement of Himalaya Intellectual Property with respect to BioAtla’s activities in accordance with this Agreement solely for the purposes of carrying out the development as set forth in each Development Plan, or
commercialization as set forth in each Commercialization Plan. The provisions of this Section 7.4 are intended to permit BioAtla to have freedom to carry out its responsibilities and perform its obligations under this Agreement and each
Development Plan and each Commercialization Plan without fear of being made a party to any legal action concerning infringing any of the Himalaya Intellectual Property that is used to carry out such responsibilities or perform such obligations. 

  
 21 

 7.5 Infringement by Third Parties. 

(a) Notice. In the event that either BioAtla or Himalaya becomes aware of any infringement or threatened infringement by
a Third Party of any CAB Patent Right, it will notify the other party in writing to that effect. Any such notice shall include evidence to support an allegation of infringement or threatened infringement by such Third Party. 

(b) CAB Patent Rights. Subject to this Section 7.5(b), Himalaya shall have the first right, as between BioAtla and
Himalaya, but not the obligation, to bring and control any action or proceeding with respect to infringement of any CAB Patent Rights in the Territory, at its own expense and by counsel of its own choice. BioAtla shall have the right, at its own
expense, to be represented in any such action by counsel of its own choice, and Himalaya and its counsel will reasonably cooperate with BioAtla and its counsel in strategizing, preparing and presenting any such action or proceeding. If Himalaya
fails to bring an action or proceeding with respect to infringement of any CAB Patent Rights in the Territory within (i) 75 days following the notice of alleged infringement or (ii) 10 days before the time limit, if any, set forth in the
appropriate laws and regulations for the filing of such actions, whichever comes first, BioAtla shall have the right to bring and control any such action at its own expense and by counsel of its own choice, and Himalaya shall have the right, at its
own expense, to be represented in any such action by counsel of its own choice. Except as otherwise agreed to by the parties as part of a cost-sharing arrangement, any recovery or damages realized as a result of such action or proceeding with
respect to CAB Patent Rights in the Territory shall be used first to reimburse the parties’ documented out-of-pocket legal expenses relating to the action or
proceeding, and any remaining compensatory damages relating to Products (including lost sales or lost profits with respect to Products) shall be retained [***]% by the party that brought and controlled such action or proceeding and [***]% by the
other party, and any punitive damages shall be equally shared by the parties. Himalaya may grant a Licensee the rights granted to it in this Section 7.4 pursuant to any License Agreement . 

(c) Cooperation. In the event a party brings an infringement action in accordance with this Section 7.5, the other
parties shall cooperate fully, including, if required to bring such action, the furnishing of a power of attorney or being named as a party. 

7.6 Infringement of Third Party Rights. Each party shall promptly notify the other in writing of any allegation by a
Third Party that the activity of BioAtla, Himalaya, Licensee or any of their respective Affiliates pursuant to this Agreement or any License Agreement infringes or may infringe the intellectual property rights of a Third Party. BioAtla shall have
the sole right to control any defense of any such claim involving alleged infringement of Third Party rights by activities of BioAtla or its Affiliates at its own expense and by counsel of its own choice, and Himalaya and the Licensee under the
applicable License Agreement shall have the right, at its own expense, to be represented in any such action by counsel of its own choice. Himalaya or the Licensee under the applicable License Agreement shall have the sole right to control any
defense of any such claim involving alleged infringement of Third Party rights by activities of Himalaya or any Selling Party at its own expense and by counsel of its own choice, and BioAtla shall have the right, at its own expense, to be
represented in any such action by counsel of its own choice. 
 7.7 Consent for Settlement. No party shall enter into
any settlement or compromise of any action or proceeding under this Section 7 which would in any manner alter, diminish, or be in derogation of another party’s rights under this Agreement without the prior written consent of such other
party, which shall not be unreasonably withheld. 
 7.8 Trademarks. Subject to BioAtla’s written approval on a
case by case basis, which shall not be unreasonably withheld, Himalaya shall own and be responsible for all trademarks, trade names, branding, or logos related to Products in the Field in the Territory, and will be responsible for selecting,
registering, defending, and maintaining the same at Himalaya’s sole cost and expense, provided that BioAtla’s approval shall be deemed granted if BioAtla does not respond to Himalaya within 30 days of being informed by Himalaya of the
same. 
  
  

[***] Certain information in this document identified by brackets has been omitted because it is both (i) not material and (ii) would be competitively
harmful if publicly disclosed. 

  
 22 

 7.9 BioAtla Global Transaction. BioAtla Global Transaction. In
the event BioAtla has a party interested, or is interested itself, in exclusively licensing rights to a CAB Antibody subject to the rights granted to, or otherwise owned by, Himalaya hereunder, as part of a Global Transaction, BioAtla shall notify
Himalaya of such interest in writing (“Global Transaction Notification”), and the parties shall confer within fifteen (15) days of such notification. Within thirty (30) days of the notification, Himalaya shall ntofiy BioAtla in
writing whether or not it will agree to participate in such Global Transaction (“Himalaya Approval”). BioAtla shall be solely responsible for the Global Transaction negotiation and execution, and shall update Himalaya on the status of the
negotiation and relevant terms, in writing, every two (2) weeks. In the event the Global Transaction is not fully executed within three (3) months of the Himalaya Approval (“Negotiation Term”), Himalaya shall no longer be
obligated to participate with its rights in such Global Transaction, however, the parties shall agree in writing the desire to extend the Negotiation Term for a specified period. The parties understand and agreed that: (a) BioAtla shall provide
to Himalaya a summary, including the financial terms (which may be a term sheet), of any such proposed Global Transaction (such summary, the “Global Transaction Summary”) in the Global Transaction Notification; (b) Himalaya
shall shall cooperate and assist BioAtla in consummating such Global Transaction, including the execution of all agreements and documentation requested by BioAtla and shall not, during the Negotiation Term, cease and otherwise refrain from
discussing, negotiating or otherwise consummating any sublicense of any of the rights granted to, or otherwise owned by, Himalaya under this Agreement; (c) in connection with each such Global Transaction, the financial terms for Himalaya shall
be as follows: within five (5) business days of receipt, BioAtla shall pay to Himalaya: A) in the event the Global Transaction involes an exclusive license, (i) [***] of all upfront and development milestones, (ii) [***] of sales milestones
which are paid with respect to net sales of the applicable Product in the Territory, and (iii) [***] of the royalties paid with respect to net sales of the applicable Product in the Territory, all as and to the extent paid to BioAtla pursuant to
such Global Transaction, or B) in the event that the Global Transaction involves a sharing of profits and losses by BioAtla and the Third Party pursuant to such Global Transaction (a “Co-Development
Deal”), Himalaya shall be responsible for all Costs of Development associated with obtaining Regulatory Approval, and solely to the extent required to obtain Regualtory Approval, in the Territory, and Costs of Commercialization for the
applicable Product solely in the Territory, and, in return, BioAtla shall promptly pay to Himalaya [***] of all global profits received by BioAtla pursuant to such Global Transaction. In the event the Global Transaction is a blend of a Co-Development Deal and an exclusive license, Himalaya shall Himalaya shall be responsible for all Costs of Development associated with obtaining Regulatory Approval, and solely to the extent required to obtain
Regualtory Approval, in the Territory, and Costs of Commercialization for the applicable Product solely in the Territory, and, in return, BioAtla shall promptly pay to Himalaya the greater of: a) [***] of any upfront payment received under such
Global Transaction, and [***] of all proceeds received in the Territory, b) [***] of all proceeds received under such Global Transaction in the Territory. Notwithstanding the foregoing or anything to the contrary in this Agreement, in the case of
BioAtla’s Co-Development of CTLA-4 with Beigene, in consideration of the rights in the Territory, BioAtla shall promptly pay Himalaya [***] percent of all
development and sales milestones and royalties, received from Beigene in the Territory. For clarity, BioAtla shall pay Himalaya [***] of the development and sales milestones and royalties it receives under the
CTLA-4 Co-Development with BeiGene in the BeiGene territory under the Co-Development agreement between BioAtla and BeiGene, since the BeiGene territory is larger than
the Territory. 
 7.10 Prior to May 31st, 2020, in the event a
Third Party Acquirer requires worldwide rights to [***] licensed to Himalaya hereunder (“Clinical Stage Licensed CAB Antibodies”), BioAtla shall notify Himalaya of such requirement in writing (“Acquisition Requirement
Notification”), and the parties shall confer within ten (10) days of the Acquisition Requirement Notification and shall agree appropriate terms, including compensation, to Himalaya to exclusively license the rights to one or both of these
two Clinical Stage Licensed CAB antibodies back to BioAtla (“Exclusive Back-License”), so BioAtla can conclude the acquisition transaction (“BioAtla Acquisition”). The Exclusive Back-License shall be effective upon the BioAtla
Acquisition. BioAtla shall be solely responsible for the negotiation and execution of the BioAtla Acquisition, and shall update Himalaya on the status of the negotiation and relevant terms, in writing, every two (2) weeks. In the event the
BioAtla Acquistion is not fully executed within three (3) months of the Acquisition Requirement Notification 
  

 
 [***] Certain information in this
document has been omitted from this exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed. 

  
 23 

 
(“Negotiation Term”), Himalaya shall no longer be obligated to enter into the Exclusive Back-License, however, the parties shall agree in writing the desire to extend the Negotiation
Term for a specified period. The parties understand and agreed that: (a) Himalaya shall, during the Negotiation Term, cease and otherwise refrain from discussing, negotiating or otherwise consummating any sublicense of any of the rights granted
to, or otherwise owned by, Himalaya under this Agreement; (c) in connection with each such Exclusive Back-License, the financial terms for Himalaya shall be as follows for each CAB Antibody: an upfront payment of [***], (i) a [***] milestone
payment upon NDA (or the equivalent) approval, and royalties as set forth hereunder for the Territory. BioAtla shall be responsible for all Costs of Development associated with obtaining Regulatory Approval in the Territory, and for all Costs of
Commercialization for the applicable Product in the Territory. BioAtla shall make all reasonable attempts under the BioAtla Acquisition to require an Exclusive Back-License for either
CAB-AXL-ADC or CAB-ROR2-ADC from Himalaya, but not both. 

 

	8.	 REPRESENTATIONS AND WARRANTIES 

8.1 Mutual Representations and Warranties. Each party represents and warrants to the other that, as of the Effective
Date: (a) it is duly organized and validly existing under the laws of its jurisdiction of incorporation or formation, and has full corporate or other power and authority to enter into this Agreement and to carry out the provisions hereof,
(b) it is duly authorized to execute and deliver this Agreement and to perform its obligations hereunder, and each person executing this Agreement on its behalf has been duly authorized to do so by all requisite corporate or partnership action,
(c) this Agreement is legally binding upon it, enforceable in accordance with its terms, and does not conflict with any agreement, instrument or understanding, oral or written, to which it is a party or by which it may be bound, nor violate any
material law or regulation of any court, governmental body or administrative or other agency having jurisdiction over it, and (d) it has the right to grant the rights and licenses granted by it under this Agreement. 

8.2 Mutual Covenants. 

(a) Employees, Consultants and Contractors. Each party covenants that it has obtained or will obtain written agreements
from each of its employees, consultants and contractors who perform development activities pursuant to this Agreement, which agreements will obligate such persons to obligations of confidentiality and non-use
and to assign Inventions in a manner consistent with the provisions of this Agreement. 
 (b) Debarment. Each party
represents, warrants and covenants to the other party that it is not debarred or disqualified under the U.S. Federal Food, Drug and Cosmetic Act or comparable laws in any country or jurisdiction other than the U.S. and it does not, and will not
during the Term, employ or use the services of any person who is debarred or disqualified, in connection with activities relating to CAB Antibodies or any Product. In the event that either party becomes aware of the debarment or disqualification or
threatened debarment or disqualification of any person providing services to such party, including the party itself or its Affiliates or Licensees or Third Party Service Providers, which directly or indirectly relate to activities contemplated by
this Agreement, such party shall immediately notify the other party in writing and such party shall cease employing, contracting with, or retaining any such person to perform any such services. 

(c) Compliance. 

(i) In the performance of its obligations under this Agreement, such party shall comply and shall cause its and its Affiliates’
employees and contractors to comply with all applicable laws, rules and regulations. 
 (ii) Such party and, to its knowledge, its
and its Affiliates’ employees and contractors shall not, in connection with the performance of their respective obligations under this Agreement, directly or indirectly through Third Parties, pay, promise or offer to pay, or authorize the
payment of, any money or give any promise or offer to give, or authorize the giving of anything of value to a Public Official or Entity or other person for purpose of obtaining or retaining business for or with, or directing business to, any person,
including, without limitation, either party (it being understood that, without any limitation to the foregoing, such party, and to its knowledge, its and its Affiliates’ employees and contractors, has not directly or indirectly promised,
offered or provided any corrupt payment, gratuity, emolument, bribe, kickback, illicit gift or hospitality or other illegal or unethical benefit to a Public Official or Entity or any other person in connection with the performance of such
party’s obligations under this Agreement, and shall not, directly or indirectly, engage in any of the foregoing). 
  

 
 [***] Certain information in this
document identified by brackets has been omitted because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed. 

  
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 (iii) Such party and its Affiliates, and their respective employees and contractors,
in connection with the performance of their respective obligations under this Agreement, shall not cause such other party’s indemnitees to be in violation of the FCPA, Export Control Laws, or any other applicable laws, rules or regulations or
otherwise cause any reputational harm to such other party. 
 (iv) Such party shall immediately notify the other party if such party
has any information or suspicion that there may be a violation of the FCPA, Export Control Laws, or any other applicable laws, rules or regulations in connection with the performance of this Agreement or the development, manufacture or
commercialization of any Product. 
 (v) In connection with the performance of its obligations under this Agreement, such party shall
comply and shall cause its and its Affiliates’ employees and contractors to comply with such party’s own anti-corruption and anti-bribery policy, a copy of which has been provided to the other party. 

(vi) The other party will have the right, upon reasonable prior written notice and during such Party’s regular business hours, to
audit such party’s books and records in the event that a suspected violation of any of the representations, warranties or covenants in this Section 8.2(c) needs to be investigated. 

(vii) In the event that such party has violated or been suspected of violating any of the representations, warranties or covenants in
this Section 8.2(c), such party will cause its or its Affiliates’ personnel or others working under its direction or control to submit to periodic training that such party will provide on anti-corruption law compliance. 

(viii) Such party will, at the other party’s request, annually certify to such other party in writing such party’s
compliance, in connection with the performance of such party’s obligations under this Agreement, with the representations, warranties or covenants in Section 8.2(c). 

8.3 Additional BioAtla Representations, Warranties and Covenants. BioAtla represents, warrants and covenants to Himalaya
that, as of the Effective Date: 
 (a) BioAtla has received no written notice from any Third Party that the
development of any CAB Antibody conducted by BioAtla infringes any intellectual property rights of any Third Party; and 

(b) there are no pending actions, claims, investigations, suits or proceedings against BioAtla, at law or in equity, or
before or by any Regulatory Authority, and BioAtla has not received any written notice regarding any pending or threatened actions, claims, investigations, suits or proceedings against BioAtla, at law or in equity, or before or by any Regulatory
Authority, in either case with respect to the BioAtla Know-How. 
 8.4 Additional
Himalaya Representations, Warranties and Covenants. Himalaya represents, warrants and covenants to BioAtla that: 

(a) Himalaya has not as of the Effective Date, and will not, and will not permit any Affiliate, Licensee or Third Party
Service Provider to, during the Term, grant any right to any Third Party under the Himalaya Rights that would conflict with the rights granted to BioAtla hereunder; 

(b) Himalaya shall not alone or with or for any Third Party (and shall not permit any Affiliate or Licensee to),
research (including without limitation screen or conduct assays) in the Field any Licensed Candidate, or otherwise develop or commercialize any pharmaceutical product which is Specifically Directed to the Target of any Product; and 

  
 25 

 (c) Himalaya shall obtain, and maintain throughout the Term, all
rights, authorizations, permits, licenses and consents necessary to perform and conduct the activities, in the Territory, contemplated by this Agreement. 

8.5 Disclaimer. Except as expressly set forth in this Agreement, THE TECHNOLOGY AND INTELLECTUAL PROPERTY RIGHTS
PROVIDED BY EACH PARTY HEREUNDER ARE PROVIDED “AS IS” AND EACH PARTY EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING THE WARRANTIES OF DESIGN, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE,
NONINFRINGEMENT OF THE INTELLECTUAL PROPERTY RIGHTS OF THIRD PARTIES, OR ARISING FROM A COURSE OF DEALING, USAGE OR TRADE PRACTICES, IN ALL CASES WITH RESPECT THERETO. Without limiting the generality of the foregoing, (a) neither party
represents or warrants that any Data obtained from conducting clinical trials in one country or jurisdiction will comply with the laws and regulations of any other country or jurisdiction, and (b) neither party represents or warrants the
success of any study or test conducted pursuant to this Agreement or the safety or usefulness for any purpose of the technology it provides hereunder. 

8.6 Limitation of Liability. EXCEPT (A) FOR A BREACH OF SECTION 8.4(b), OR (B) SECTION 13.5 OR
(C) FOR CLAIMS THAT ARE SUBJECT TO INDEMNIFICATION UNDER 11 OR (C) FOR DAMAGES DUE TO FRAUD, MALICIOUS ACTIONS AND/OR INTENTIONAL TORT OF THE LIABLE PARTY, NEITHER PARTY NOR ANY OF THEIR RESPECTIVE AFFILIATES WILL BE LIABLE TO THE OTHER
PARTY TO THIS AGREEMENT FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL OR PUNITIVE OR EXEMPLARY DAMAGES OR LOST PROFITS, WHETHER LIABILITY IS ASSERTED IN CONTRACT, TORT (INCLUDING NEGLIGENCE AND STRICT PRODUCT LIABILITY), INDEMNITY OR
CONTRIBUTION, AND IRRESPECTIVE OF WHETHER THAT PARTY OR ANY REPRESENTATIVE OF THAT PARTY HAS BEEN ADVISED OF, OR OTHERWISE MIGHT HAVE ANTICIPATED THE POSSIBILITY OF, ANY SUCH LOSS OR DAMAGE (EXCEPT TO THE EXTENT THE PARTY SEEKING INDEMNIFICATION IS
ACTUALLY LIABLE TO A THIRD PARTY FOR SUCH CONSEQUENTIAL, PUNITIVE OR EXEMPLARY DAMAGES OR LOST PROFITS IN CONNECTION WITH A CLAIM BY SUCH THIRD PARTY). 
  

	9.	 CONFIDENTIALITY 

9.1 Confidential Information. Except to the extent expressly authorized by this Agreement or otherwise agreed in writing
by the parties, the parties agree that, during the Term and for ten (10) years thereafter, the receiving party shall keep confidential and shall not publish or otherwise disclose and shall not use for any purpose other than as expressly
provided for in this Agreement any Confidential Information furnished to it by the other party pursuant to this Agreement or any Confidential Information developed by the other party hereunder, and both parties shall keep confidential and, subject
to Section 9.5, shall not publish or otherwise disclose the terms of this Agreement. Each party may use the other party’s Confidential Information only to the extent required to accomplish the purposes of this Agreement. Each party will
use at least the same standard of care as it uses to protect proprietary or confidential information of its own (but no less than reasonable care) to ensure that its employees, agents, consultants, contractors and other representatives do not
disclose or make any unauthorized use of the Confidential Information of the other party. Each party will promptly notify the other upon discovery of any unauthorized use or disclosure of the Confidential Information of the other party. 

9.2 Exceptions. The obligations of confidentiality and restriction on use under this Article 9 shall not apply to any
information which the receiving party can prove by competent written evidence: (a) is now, or hereafter becomes, through no act or failure to act on the part of the receiving party, generally known or available to the public; (b) is known
by the receiving party at the time of receiving such information, other than by previous disclosure of the disclosing party, or its Affiliates, employees, agents, consultants, or contractors; (c) is hereafter furnished to the receiving party
without restriction by a Third Party who has no obligation of confidentiality or limitations on use with respect thereto, as a matter of right; or (d) is independently discovered or developed by the receiving party without access or reference
to, or use of, Confidential Information belonging to the disclosing party. 

  
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 9.3 Authorized Disclosure. Each party may disclose Confidential
Information belonging to the other party as expressly permitted by this Agreement or if and to the extent such disclosure is reasonably necessary in the following instances: 

(a) filing, prosecuting, or maintaining New Patent Rights as permitted by this Agreement; 

(b) Regulatory Filings for Products that such party has a license or right to develop hereunder in a given country or
jurisdiction; 
 (c) prosecuting or defending litigation as permitted by this Agreement; 

(d) complying with applicable court orders or governmental regulations or stock exchange rules; and 

(e) disclosure to Affiliates, Licensees, Third Party Service Providers, employees, consultants, contractors, agents or
other Third Parties in connection with due diligence or similar investigations by such Third Parties, and disclosure to potential Third Party investors in confidential financing documents, provided, in each case, that any such Affiliate, Licensee,
Third Party Service Provider, employee, consultant, contractor, agent or other Third Party agrees to be bound by terms of confidentiality and non-use consistent with those set forth in this Section 9.

 Notwithstanding the foregoing, in the event a party is required to make a disclosure of the other party’s Confidential Information pursuant to
Section 9.3(c) or (d), it will, except where impracticable, give reasonable advance notice to the other party of such disclosure and use Commercially Reasonable Efforts to secure confidential treatment of such Confidential Information and at
least as diligently as such party would use to protect its own confidential information. In any event, the parties agree to take all reasonable action to avoid disclosure of Confidential Information hereunder. Any information disclosed pursuant to
9.3(c) or (d) shall still be deemed Confidential Information and subject to the restrictions set forth in this Agreement, including the foregoing provisions of Section 9. 

9.4 Publications. BioAtla shall have the right to review and comment on any material proposed for disclosure or
publication by Himalaya regarding results of and other information regarding Himalaya’s research or development activities with respect to Products, whether by oral presentation, manuscript or abstract. Before any such material is submitted for
publication or presentation of the same is made, Himalaya shall deliver a complete copy to BioAtla at least 60 days prior to submitting the material to a publisher or initiating any other disclosure. Each party shall review any such material and
give its comments to the other party within 30 days of the receipt of such material. With respect to oral presentation materials and abstracts, BioAtla shall make reasonable efforts to expedite review of such materials and abstracts, and shall
return such items as soon as practicable to the other party with appropriate comments, if any, but in no event later than 30 days from receipt. Himalaya shall comply with BioAtla’s request to delete references to the Confidential Information of
BioAtla in any such material and agrees to delay any submission for publication or other public disclosure for a period of up to an additional 90 days for the purpose of preparing and filing appropriate patent applications. Himalaya shall reference
BioAtla as the origin of the CAB Antibodies and shall include BioAtla authors as appropriate. 
 9.5 Publicity;
Public Disclosures. It is understood that each party may desire or be required to issue future press releases relating to this Agreement or activities hereunder. The parties agree to consult with each other reasonably and in good faith with
respect to the text and timing of such subsequent press releases prior to the issuance thereof, provided that a party may not unreasonably withhold, condition or delay consent to such releases, and that either party may issue such press releases or
make such disclosures to the SEC or any other national securities exchange or other internationally recognized securities exchange pursuant to registration statements, periodic reports or current reports or otherwise as it determines, based on
advice of counsel, are reasonably necessary to comply with laws or regulations or for appropriate market disclosure. The parties will consult with each other on the provisions of this Agreement to be redacted in any filings made by a party with the
SEC or any other national securities exchange or other internationally recognized securities exchange or as otherwise required by law. In addition, following the initial joint press release announcing this Agreement, either party shall be free to
disclose, without the other party’s prior written consent, the existence of this Agreement, the identity of the other party and those terms of the Agreement which have already been publicly disclosed in accordance herewith. 

  
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 9.6 Prior Non-Disclosure
Agreement. As of the Effective Date, the terms of this Section 9 shall supersede any prior non-disclosure, secrecy or confidentiality agreement between the parties (or their Affiliates) dealing with
the subject of this Agreement. Any information disclosed pursuant to any such prior agreement shall be deemed Confidential Information for purposes of this Agreement. 

9.7 Equitable Relief. Given the nature of the Confidential Information and the competitive damage that a party would
suffer upon unauthorized disclosure, use or transfer of its Confidential Information to any Third Party, the parties agree that monetary damages would not be a sufficient remedy for any breach of this Section 9. In addition to all other
remedies, a party shall be entitled to specific performance and injunctive and other equitable relief as a remedy for any breach or threatened breach of this Section 9. 
  

	10.	 TERM AND TERMINATION 

10.1 Term. This Agreement shall commence on the Effective Date, and unless terminated earlier as provided in this
Section 10 or by mutual written agreement of the parties, shall continue until the expiration of all payment obligations under Section 5 (the “Term”). 

10.2 Termination for Cause. Each party shall have the right to terminate this Agreement upon 60 days’ prior written
notice to the other party upon the occurrence of any of the following: 
 (a) upon or after the bankruptcy,
insolvency, dissolution or winding up of the other party (other than a dissolution or winding up for the purpose of reconstruction or amalgamation); or 

(b) after the breach of any material provision of this Agreement by the other party (including any failure to pay any
amounts in excess of $100,000) if the breaching party has not cured such breach within the 60 day period following written notice of termination by the non-breaching party. 

10.3 Termination for Patent Challenge. BioAtla shall have the right to terminate this Agreement
immediately upon written notice to Himalaya if (a) Himalaya or any of its Affiliates directly, or indirectly through any Third Party, commences any interference or opposition proceeding with respect to, challenges the validity or enforceability
of, or opposes any extension of or the grant of a supplementary protection certificate with respect to, any BioAtla Intellectual Property or (b) any Licensee or Third Party Service Provider directly, or indirectly through any Third Party,
commences any interference or opposition proceeding with respect to, challenges the validity or enforceability of, or opposes any extension of or the grant of a supplementary protection certificate with respect to, any BioAtla Intellectual Property,
and (i) Himalaya does not cause such Licensee or Third Party Service Provider to withdraw such action or (ii) Himalaya does not terminate the License Agreement with such Licensee or Third Party Service Provider, in each case, within 10
days of Himalaya receiving from BioAtla written notice of any such action being taken by such Licensee or Third Party Service Provider with sufficient evidence showing that such Licensee or Third Party Service Provider has taken such action. 

10.4 Termination by BioAtla. 

(a) If Himalaya notifies BioAtla in writing that it intends to abandon development of any CAB Antibody in the Territory,
then BioAtla shall be entitled to terminate this Agreement immediately upon written notice to Himalaya with respect to such CAB Antibody. 

(b) If Himalaya fails to comply with its diligence obligations set forth in this Agreement with respect to any CAB
Antibody or Product in the Territory, then BioAtla shall be entitled to terminate this Agreement with respect to such CAB Antibody or Product immediately upon written notice to Himalaya if Himalaya has not complied with such diligence obligations to
BioAtla’s satisfaction within the 60 day period following written notice of termination by BioAtla; provided, however, that in the event that Himalaya’s noncompliance with such diligence obligations cannot be cured prior to the expiration
of the 60 

  
 28 

 
day cure period, termination under this Section 10.4 shall not occur if Himalaya has taken appropriate steps to commence such cure during such 60 day period and Himalaya diligently continues
to pursue reasonable efforts to cure such noncompliance within a reasonable period of time thereafter, but in any event within 90 days after notice of termination. 

(c) BioAtla shall be entitled to terminate this Agreement pursuant to Sections 3.4(a)(iv) and 7.1. 

10.5 Termination by Himalaya. Himalaya shall have the right to terminate this Agreement with respect to a CAB Antibody
in the event that such CAB Antibody does not met the Clinical Criteria. 
 10.6 Effect of Expiration or Termination;
Surviving Obligations. 
 (a) Effect of Termination by Himalaya. In the event that this Agreement is terminated by
Himalaya pursuant to Sections 10.2 or 10.5, as of such date of termination all rights of Himalaya hereunder shall immediately cease. 

(b) Effect of Expiration or Termination. Upon expiration or termination of this Agreement, all rights and obligations of
the parties under this Agreement shall terminate, except as provided elsewhere in this Section 10.6. 
 (c)
Additional Effect of Termination by Himalaya. Upon any termination of this Agreement by Himalaya pursuant to Sections 10.2 and 10.5, the ROW License shall continue in effect in accordance with its terms. 

(d) Additional Effect of Termination by BioAtla. Upon any termination of this Agreement by BioAtla pursuant to
Section 10.2, 10.3 or 10.4: 
 (i) in lieu of the ROW License (with respect to Products), Himalaya shall, and it hereby does,
grant to BioAtla an exclusive (even as to Himalaya), worldwide, royalty-free, fully-paid, irrevocable, perpetual license, with the right to sublicense through multiple tiers of sublicense, under the Himalaya Intellectual Property to develop, conduct
clinical trials, obtain Regulatory Approval, make, have made, use, import, offer for sale and sell Products in the Field in both the Territory and the ROW; 

(ii) as promptly as practicable (and in any event within ninety (90) days) after such termination, Himalaya shall: (A) to the
extent not previously provided to BioAtla, deliver to BioAtla true, correct and complete copies of all Regulatory Filings and registrations (including Regulatory Approvals) for Products in the Field in the Territory, and disclose to BioAtla all
Himalaya Know-How not previously disclosed to BioAtla; (B) transfer or assign, or cause to be transferred or assigned, to BioAtla or its designee (or to the extent not so assignable, take all reasonable
actions to make available to BioAtla or its designee the benefits of) all Regulatory Filings and registrations (including Regulatory Approvals) for Products in the Field in the Territory, whether held in the name of Himalaya or its Affiliates,
Licensee; and (C) take such other actions and execute such other instruments, assignments and documents as may be necessary to effect, evidence, register and record the transfer, assignment or other conveyance of rights under this
Section 10.6 to BioAtla; 
 (iii) Himalaya shall, as directed by BioAtla and consistent with applicable law, cause to be
wound-down any ongoing development activities of Himalaya and its Affiliates and other Selling Parties with respect to any Products in the Field in the Territory in an orderly fashion or promptly transfer such development activities to BioAtla or
its designee, in compliance with all applicable laws, rules and regulations; and 
 (iv) Himalaya shall, and it hereby does,
effective as of such termination, assign to BioAtla all of Himalaya’s right, title and interest in and to any and all Product-specific trademarks used by Himalaya and its Affiliates, including all goodwill therein, and Himalaya shall promptly
take such actions and execute such instruments, assignments and documents as may be necessary to effect, evidence, register and record such assignment, at Himalaya’s cost. 

  
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 (e) Effects of Termination on Sublicenses. In the event of any
termination of this Agreement by either party pursuant to Sections 10.2, 10.3 and 10.4(a), all Sublicenses granted by Himalaya hereunder shall terminate effective as of the date of such termination of this Agreement. In the event of any termination
of this Agreement with respect to a CAB Antibody by BioAtla pursuant to Section 10.4(b) or by Himalaya pursuant to Section 10.5, all Sublicenses granted by Himalaya hereunder with respect to such terminated CAB Antibody shall terminate
effective as of the date of termination of such CAB Antibody. 
 (f) Confidential Information. Upon expiration or
termination of this Agreement in its entirety, except to the extent that a party retains a license from any other party as provided in this Section 10.6, each party shall promptly return to the other parties, or delete or destroy, all relevant
records and materials in such party’s possession or control containing Confidential Information of the other party; provided that such party may keep one copy of such materials for archival purposes only subject to a continuing confidentiality
obligations. 
 (g) Survival. Expiration or termination of this Agreement shall not relieve the parties of any
obligation or right accruing prior to such expiration or termination. Except as set forth below or elsewhere in this Agreement, the obligations and rights of the parties under the following provisions of this Agreement shall survive expiration or
termination of this Agreement: Sections 3.6, 5.4, 7.1, 10.6, 11, 12 and 13.1. 
 10.7 Exercise of Right to Terminate.
Termination of this Agreement shall not preclude either party from claiming any other damages, compensation or relief that it may be entitled to upon such termination. 

10.8 Rights in Bankruptcy. All rights and licenses granted under or pursuant to this Agreement by one party to another
party are, and will otherwise be deemed to be, for purposes of Section 365(n) of the U.S. Bankruptcy Code or comparable provision of applicable bankruptcy or insolvency laws, licenses of right to “intellectual property” as defined
under Section 101 of the U.S. Bankruptcy Code or comparable provision of applicable bankruptcy or insolvency laws. The parties agree that a party that is a licensee of such rights under this Agreement will retain and may fully exercise all of
its rights and elections under the U.S. Bankruptcy Code or comparable provision of applicable bankruptcy or insolvency laws. The parties further agree that, in the event of the commencement of a bankruptcy proceeding by or against a party to this
Agreement under the U.S. Bankruptcy Code or comparable provision of applicable bankruptcy or insolvency laws, a party which has been granted a license to intellectual property under this Agreement will be entitled to a complete duplicate of (or
complete access to, as appropriate) any such intellectual property and all embodiments of such intellectual property, and same, if not already in its possession, will be promptly delivered to it (a) upon any such commencement of a bankruptcy or
insolvency proceeding upon its written request therefor, unless the bankrupt party elects to continue to perform all of its obligations under this Agreement, or (b) if not delivered under (a) above, following the rejection of this
Agreement by or on behalf of the bankrupt party upon written request therefor by such party. 
  

	11.	 INDEMNIFICATION 

11.1 Indemnification by BioAtla. BioAtla hereby agrees to save, defend and hold Himalaya, its Affiliates (for so
long as such entities remain Affiliates of Himalaya) and their respective directors, officers, employees and agents (each, a “Himalaya Indemnitee”), harmless from and against any and all liabilities, expenses and losses,
including reasonable legal expenses and attorneys’ fees (collectively, “Losses”), to which any Himalaya Indemnitee may become subject as a result of any claim, demand, action or other proceeding by any Third Party (a
“Claim”) to the extent such Losses arise out of: (a) the practice by BioAtla of any license granted to it hereunder by Himalaya or (b) the breach by BioAtla of any warranty, representation, covenant or agreement
made by BioAtla in this Agreement; except, in each case, to the extent such Losses result from the gross negligence or willful misconduct of any Himalaya Indemnitee, or the breach by Himalaya of any warranty, representation, covenant or agreement
made by Himalaya in this Agreement. 
 11.2 Indemnification by Himalaya. Himalaya hereby agrees to save, defend and
hold BioAtla, its Affiliates (for so long as such entities remain Affiliates of BioAtla) and their respective directors, officers, employees and agents (each, a “BioAtla Indemnitee”), harmless from and against any and all
Losses to which 

  
 30 

 
any BioAtla Indemnitee may become subject as a result of any claim, demand, action or other proceeding by any Third Party to the extent such Losses arise out of: (a) the practice by Himalaya
of any rights or license granted to it hereunder by BioAtla or (b) the breach by Himalaya of any warranty, representation, covenant or agreement made by Himalaya in this Agreement; except, in each case, to the extent such Losses result from the
gross negligence or willful misconduct of any BioAtla Indemnitee, or the breach by BioAtla of any warranty, representation, covenant or agreement made by BioAtla in this Agreement. 

11.3 Control of Defense. 

(a) Notice of Claims. A Claim to which indemnification applies under Section 11.1 or Section 11.2 shall
be referred to herein as an “Indemnification Claim.” If the Indemnitee intends to claim indemnification under this Article 11, the Party claiming indemnification (the “Indemnitee”) shall notify the
indemnifying Party (the “Indemnitor”) in writing, promptly upon becoming aware of an Indemnification Claim, describing in reasonable detail the facts giving rise to the Indemnification Claim; provided, that an Indemnification
Claim in respect of any action at law or suit in equity by or against a Third Party as to which indemnification shall be sought shall be given promptly after the action or suit is commenced (provided that the Indemnitee is aware of such
commencement); and provided further, that the failure by an Indemnitee to give such notice shall not relieve the Indemnitor of its indemnification obligation under this Agreement except and only to the extent that the Indemnitor is actually
prejudiced as a result of such failure to give notice. 
 (b) Indemnification Procedures. If an Indemnitee receives
written notice of a Claim that the Indemnitee believes may result in a claim for indemnification under this Article 11, such Indemnitee shall deliver a notice of such Indemnification Claim to the Indemnitee in accordance with the provisions of
Section 11.3(a). If the Litigation Conditions are satisfied, then the Indemnitor shall have the right to assume and control the defense of the Claim, at its own expense with counsel selected by it and reasonably acceptable to the Indemnitee, by
delivering written notice of its assumption of such defense to the Indemnitee within twenty (20) days of its receipt of notice of such Claim from the Indemnitor (but the Indemnitor shall in any event have the right to assume and control the
defense of a Claim that initially sought injunctive relief (including a declaratory judgment) from the Indemnitee when the only remaining dispute in such matter is the determination of non-injunctive relief or
when the only remaining relief sought by the Third Party in such matter is non-injunctive relief, whichever is first); provided, however, that the Indemnitee shall have the right to retain its own counsel,
with the reasonable fees and expenses to be paid by the Indemnitor, if at any time the Litigation Conditions are not satisfied with respect to such Claim. If the Indemnitor assumes and controls the defense of such Claim, the Indemnitor shall keep
the Indemnitee reasonably apprised of the status of the Claim and the Indemnitee shall be entitled to otherwise monitor such Claim at its sole cost and expense. If the Claim seeks injunctive relief (including a declaratory judgment) against or from
the Indemnitee or if the Indemnitor does not assume the defense of the Claim as described in this Section 11.3, the Indemnitee shall be permitted to assume and control the defense of such Claim (but shall have no obligation to do so) and in
such event shall be entitled to settle or compromise the Indemnification Claims in its sole and reasonable discretion. If the Indemnitor has assumed and controls the defense of the Claim in accordance with this Section 11.3, (i) the Indemnitee
shall not settle or compromise the Indemnification Claim without the prior written consent of the Indemnitor, such consent not to be unreasonably withheld, conditioned or delayed and (ii) the Indemnitor shall not settle or compromise the
Indemnification Claim in any manner that would result in the payment of amounts by the Indemnitee, impose any other obligation on the Indemnitee or otherwise have an adverse effect on the Indemnitee’s rights or interests (including any rights
under this Agreement or the scope or enforceability of any Patents or Know-How licensed by one Party to another Party pursuant to this Agreement), without the prior written consent of the Indemnitee. In each
case, the Party that is not controlling the defense of any Claim shall reasonably cooperate with the Party that is controlling the defense of such Claim, at the controlling Party’s expense and shall make available to the controlling Party all
pertinent information under the control of the non-controlling Party, which information shall be subject to Article 9 of this Agreement. Each Party shall use commercially reasonable efforts to avoid production
of Confidential Information of the other Party (consistent with applicable law and rules of procedure), and to cause all communications among employees, counsel and other representatives of such Party to be made so as to preserve any applicable
attorney-client or work-product privileges. 

  
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 11.4 Insurance. Each party, at its own expense, shall maintain
appropriate insurance (or self-insure) in an amount consistent with sound business practice and reasonable in light of its obligations under this Agreement during the Term. Each party shall provide a certificate of insurance (or evidence of
self-insurance) evidencing such coverage to the other party upon request. 
  

	12.	 DISPUTE RESOLUTION 

12.1 Disputes. In the event of any dispute arising out of or relating to this Agreement, except as otherwise provided in
Section 2.5 of this Agreement, the parties shall, through their respective executive officers, first meet and attempt to resolve the dispute in face-to-face
negotiations. This meeting shall occur within 15 days after a party provides notice to another party that it wishes to invoke such negotiations. 

12.2 Arbitration. If the parties are unable to resolve such dispute through such negotiations, then, except in the case
of a dispute, controversy or claim that concerns (a) the validity or infringement of a patent, trademark or copyright, or (b) any antitrust, anti-monopoly or competition law or regulation, whether or not statutory, the dispute shall be
resolved by binding arbitration before a single independent and neutral experienced arbitrator selected by mutual agreement of the parties. In the event that the parties are unable to mutually agree on the appointment of such arbitrator, then such
arbitration shall be conducted before a panel of three independent and neutral experienced arbitrators, one chosen by BioAtla, one chosen by Himalaya and the third chosen by the foregoing two arbitrators. Any such arbitration proceeding shall be
administered by the Hong Kong International Arbitration Centre (HKIAC) in accordance with the Hong Kong International Arbitration Centre Administered Arbitration Rules (HKIAC Rules, with limited discovery, in accordance with its then current rules
governing commercial disputes and the place of arbitration shall be Hong Kong. Any arbitration shall be conducted in the English language and applicable arbitration association shall use the laws of the State of New York as the governing law for
this Agreement and the parties’ obligations hereunder. The arbitrator(s) shall have no authority to award punitive or any other type of damages not measured by a party’s compensatory damages. Except to the extent necessary to confirm or
enforce an award or as may be required by law, neither a party nor any arbitrator may disclose the existence, content, or results of an arbitration without the prior written consent of all parties (BioAtla and Himalaya) to such arbitration. In no
event shall an arbitration be initiated after the date when commencement of a legal or equitable proceeding based on the dispute, controversy or claim would be barred by the applicable statute of limitations. Each party shall bear its own
attorneys’ fees, costs and disbursements arising out of the arbitration, and shall pay an equal share of the fees and costs of the arbitrators; provided, however, that the arbitrators shall be authorized to determine whether a party is the
prevailing party, and if so, to award to that prevailing party reimbursement for its reasonable attorneys’ fees, costs and disbursements (including, for example, expert witness fees and expenses, photocopy charges, travel expenses, etc.) and/or
the fees and costs of the arbitrators. Each party agrees to fully perform and satisfy any arbitration award made against it within 15 days of the service of the award. By agreeing to this binding arbitration provision, the parties understand that
they are waiving certain rights and protections which may otherwise be available if a dispute between the parties were determined by litigation in court, including the right to seek or obtain certain types of damages precluded by this provision, the
right to a jury trial, certain rights of appeal and a right to invoke formal rules of procedure and evidence. 
 12.3
Court Actions. Nothing contained in this Agreement shall deny a party the right to (a) seek, upon good cause, injunctive or other equitable relief from a court of competent jurisdiction in the context of an emergency or prospective
irreparable harm, and such an action may be filed and maintained notwithstanding any ongoing dispute resolution discussions or arbitration proceedings or (b) the right to bring any dispute regarding its intellectual property rights in a court
of competent jurisdiction. 
  

	13.	 GENERAL PROVISIONS 

13.1 Governing Law. This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the
State of New York, excluding its conflicts of laws principles. 
 13.2 Entire Agreement; Modification. This Agreement
is both a final expression of the Parties’ agreement and a complete and exclusive statement with respect to all of its terms. This Agreement, together with all other written agreements specifically referenced herein, supersedes all prior and
contemporaneous agreements and communications, whether oral, written or otherwise, concerning any and all matters contained herein. This Agreement may only be modified or supplemented in a writing expressly stated for such purpose and signed by the
parties to this Agreement. 

  
 32 

 13.3 Relationship Between the Parties. 

The parties’ relationship, as established by this Agreement, is solely that of independent contractors. This Agreement does not create any
partnership, joint venture or similar business relationship between the parties. Except as expressly set forth hereunder, no party is a legal representative of any other party, and no party can assume or create any obligation, representation,
warranty or guarantee, express or implied, on behalf of any other party for any purpose whatsoever. 
 13.4 Non-Waiver. The failure of a party to insist upon strict performance of any provision of this Agreement or to exercise any right arising out of this Agreement shall neither impair that provision or right nor
constitute a waiver of that provision or right, in whole or in part, in that instance or in any other instance. Any waiver by a party of a particular provision or right shall be in writing, shall be as to a particular matter and, if applicable, for
a particular period of time and shall be signed by such party. 
 13.5 Assignment. Except as expressly provided
hereunder, neither this Agreement nor any rights or obligations hereunder may be assigned or otherwise transferred by any party without the prior written consent of the other parties (which consent shall not be unreasonably withheld); provided,
however, that a party may assign or otherwise transfer this Agreement and its rights and obligations hereunder without the other parties’ consent: 

(a) in connection with the transfer or sale of all or substantially all of the business or assets of such party relating
to Products to a Third Party, whether by merger, consolidation, divesture, restructure, sale of stock, sale of assets or otherwise, provided that in the event of a transaction (whether this Agreement is actually assigned or is assumed by the
acquiring party by operation of law (e.g., in the context of a reverse triangular merger)), (i) intellectual property rights of the acquiring party to such transaction (if other than one of the parties to this Agreement) shall not be included
in the technology licensed hereunder, (ii) in the event of a Change of Control of BioAtla, no CAB antibodies and candidates of the acquiring party to such transaction, would be included under this Agreement; or 

(b) to an Affiliate, provided that the assigning party shall remain liable and responsible to the non-assigning party hereto for the performance and observance of all such duties and obligations by such Affiliate. 
 The
rights and obligations of the parties under this Agreement shall be binding upon and inure to the benefit of the successors and permitted assigns of the parties specified above, and the name of a party appearing herein will be deemed to include the
name of such party’s successors and permitted assigns to the extent necessary to carry out the intent of this section. Any assignment not in accordance with this Agreement shall be void. 

13.6 No Third Party Beneficiaries. This Agreement is neither expressly nor impliedly made for the benefit of any party
other than those executing it, except for the persons expressly entitled to indemnification as provided in Section 11. 

13.7 Severability. If, for any reason, any part of this Agreement is adjudicated invalid, unenforceable or illegal by a
court of competent jurisdiction, such adjudication shall not, to the extent feasible, affect or impair, in whole or in part, the validity, enforceability, or legality of any remaining portions of this Agreement. All remaining portions shall remain
in full force and effect as if the original Agreement had been executed without the invalidated, unenforceable or illegal part. 

13.8 Notices. Any notice to be given under this Agreement must be in writing and delivered either in person, by
(a) air mail (postage prepaid) requiring return receipt, (b) overnight courier, or (c) email or facsimile confirmed thereafter by any of the foregoing, to the party to be notified at its address(es) given below, or at any address such
party may designate by prior written notice to the other parties in accordance 

  
 33 

 
with this Section 13.8. Notice shall be deemed sufficiently given for all purposes upon the earliest of: (i) the date of actual receipt; (ii) if air mailed, five days after the
date of postmark; (iii) if delivered by overnight courier, the next day the overnight courier regularly makes deliveries or (iv) if emailed or sent by facsimile, the date of confirmation of receipt if during the recipient’s normal
business hours, otherwise the next day. 
 If to Himalaya, notices must be addressed to: 

Himalaya Therapeutics SEZC 

Attention: Carolyn Short, General Manager 

If to BioAtla, notices must be addressed to: 

BioAtla, LLC 
 11085 Torreyana
Road, Suite 100 
 San Diego, CA 92121 USA 

Attention: Monica Sullivan 

with a copy to: 

David Schulman 
 Dechert LLP

 1900 K Street, NW 

Washington, DC 20006-1110 
 T +1
202 261 3440 
 F +1 202 261 3333

13.9 Force Majeure. Each party shall be excused from liability for the failure or delay in performance of any obligation
under this Agreement (other than failure to make payment when due) by reason of any event beyond such party’s reasonable control including but not limited to Acts of God, fire, flood, explosion, earthquake, pandemic flu, or other natural
forces, war, civil unrest, acts of terrorism, accident, destruction or other casualty, any lack or failure of transportation facilities, any lack or failure of supply of raw materials, or any other event similar to those enumerated above. Such
excuse from liability shall be effective only to the extent and duration of the event(s) causing the failure or delay in performance and provided that the party has not caused such event(s) to occur. Notice of a party’s failure or delay in
performance due to force majeure must be given to the other party within 10 calendar days after its occurrence. All delivery dates under this Agreement that have been affected by force majeure shall be tolled for the duration of such force
majeure. In no event shall any party be required to prevent or settle any labor disturbance or dispute. 
 13.10
Interpretation. The headings of clauses contained in this Agreement preceding the text of the sections, subsections and paragraphs hereof are inserted solely for convenience and ease of reference only and shall not constitute any part of this
Agreement, or have any effect on its interpretation or construction. All references in this Agreement to the singular shall include the plural where applicable. Unless otherwise specified, references in this Agreement to any Article shall include
all Sections, subsections and paragraphs in such Article, references to any Section shall include all subsections and paragraphs in such Section, and references in this Agreement to any subsection shall include all paragraphs in such subsection. The
word “including” and similar words means including without limitation. The word “or” means “and/or” unless the context dictates otherwise because the subject of the conjunction are mutually exclusive. The words
“herein,” “hereof” and “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular Section or other subdivision. All references to days in this Agreement means calendar
days, unless otherwise specified. Ambiguities and uncertainties in this Agreement, if any, shall not be interpreted against either Party, irrespective of which Party may be deemed to have caused the ambiguity or uncertainty to exist. 

  
 34 

 13.11 Counterparts; Electronic or Facsimile Signatures. This
Agreement may be executed in any number of counterparts, each of which shall be an original, but all of which together shall constitute one instrument. This Agreement may be executed and delivered electronically or by facsimile and upon such
delivery such electronic or facsimile signature will be deemed to have the same effect as if the original signature had been delivered to the other party.  

13.12 English Language. This Agreement is in the English language, and the English language shall control their
interpretation. In addition, all notices required or permitted to be given under this Agreement, and all written, electronic, oral or other communications between the Parties regarding this Agreement, shall be in the English language. 

13.13 Exhibits and Schedules. All exhibits or schedules referred to in this Agreement are attached hereto and
incorporated herein by this reference. 
 [SIGNATURE PAGE FOLLOWS] 

  
 35 

 IN WITNESS WHEREOF, the parties hereto
have caused this EXCLUSIVE RIGHTS AGREEMENT to be executed and entered into by their duly authorized representatives as of the Effective Date. 

 

									
	BIOATLA, LLC	  	        	  	HIMALAYA THERAPEUTICS SEZC
					
	By:	  	 /s/ Jay M. Short
	  		  	By:	  	 /s/ Carolyn Short

	 Name: Jay M. Short, Ph.D.
 Title:
Chairman & CEO
	  		  	 Name: Carolyn Short
 Title: General
Manager

 SIGNATURE PAGE TO EXCLUSIVE RIGHTS
AGREEMENT 

 EXHIBIT A 

Initial CAB Antibody 
  

							
	 CAB-ANTIBODY
	  	 FORMAT
	  	 TRANSFER DATE
	  	 TERRITORY

	 [***]
	  		  		  	

  
  

[***] Certain information in this document identified by brackets has been omitted because it is both (i) not material and (ii) would be competitively
harmful if publicly disclosed. 

 EXHIBIT B 

New Option Antibody 
 [***] 

 
  

[***] Certain information in this document identified by brackets has been omitted because it is both (i) not material and (ii) would be competitively
harmful if publicly disclosed. 

 EXHIBIT G 

Development and Commercialization Payments/Costs 

All payments due to BioAtla hereunder are due and payable in USD, and by wire to the bank account of written notice by BioAtla. 

 

	1)	 Himalaya shall make the following payments to BioAtla, and each party shall bear Costs of Development under,
and in accordance with, each Development Plan, and Costs of Commercialization in accordance with each Commercializatoin Plan. Notwithstanding anything herein to the contrary, such payments and costs shall specifically include the following:

  

	 	a)	 [***]: (i) Upon submission of a IND in the Territory, Himalaya will pay to BioAtla [***] for, and BioAtla will
deliver to Himalaya, sufficient supply of [***] GMP manufactured material for at least [***]; (ii) Himalaya will conduct and fund [***] of the P1 Clinical Trial in the Territory, if required (for example an additional [***] patient study may be
required by regulatory bodies in the Territory, despite all of the US P1 Clincal Trial data); (iii) Himalaya will conduct and fund [***] of the P2 Clinical Trial Territory patient costs, solely to the extent required for Himalaya to advance the
[***] in the Territory for its desired indication(s), while leveraging BioAtla’s ROW P2 patient data, which may be approximately [***] patients per indication, or more, in the Territory; for clarity, in the event the P2 Clinical Trial is
comprised of patients from both the Territory and ROW for a particular indication, Himalaya shall be responsible for the costs for the patients in the study that are in the Territory, solely up to [***] of the total patients for the worldwide study,
and BioAtla shall be responsible for the remainder of the costs; (iv) Himalaya will conduct and fund [***] of a P3 Clinical Trial in the Territory, if required, (v) Himalaya shall make the royalty and milestone payments as set forth in
(3) and (4) below. For clarity, Himalaya shall have the right to use all relevant BioAtla Clinical Data to support its Clinical Trials and Regulatory Filings in the Territory, and BioAtla shall have the right to use all relevant Himalaya
Clinical Data to support its Clinical Trials and Regulatory Filings in the ROW. It is the anticipated by the parties hereunder that both parties benefit from the cost efficiencies of leveraging each others data, and with BioAtla, or its licensee,
developing and commercializing the [***] in the ROW, the parties anticipate that Himalaya may require fewer patients to advance the [***] in the Territory, since it will use the ROW data from BioAtla to support its studies. Himalaya will be
responsible for and fund [***] percent ([***]%) of the Costs of Commercialization in the Territory; 

  

	 	b)	 [***]: (i) Upon submission of a IND in the Territory, Himalaya will pay to BioAtla [***] for, and BioAtla
will deliver to Himalaya, sufficient supply of [***] GMP manufactured material for at least [***]; (ii) Himalaya will conduct and fund [***] of the P1 Clinical Trial in the Territory, if required (for example an additional [***] patient study may be
required by regulatory bodies in the Territory, despite all of the US P1 Clincal Trial data); (iii) Himalaya will conduct and fund [***] of the P2 Clinical Trial Territory patient costs, solely to the extent required for Himalaya to advance the
[***] in the Territory for its desired indication(s), while leveraging BioAtla’s ROW P2 patient data, which may be approximately [***] per indication, or more, in the Territory; for clarity, in the event the P2 Clinical Trial is comprised of
patients from both the Territory and ROW for a particular indication, Himalaya shall be responsible for the costs for the patients in the study that are in the Territory, solely up to [***] of the total patients for the worldwide study, and BioAtla
shall be responsible for the remainder of the costs; (iv) Himalaya will conduct and fund [***] of a P3 Clinical Trial in the Territory, if required, (v) Himalaya shall make the royalty and milestone payments as set forth in (3) and
(4) below. For clarity, Himalaya shall have the right to use all relevant BioAtla Clinical Data to support its Clinical Trials and Regulatory Filings in the Territory, and BioAtla shall have the right to use all relevant Himalaya Clinical Data to
support its Clinical Trials and Regulatory Filings in the ROW. It is the anticipated by the parties hereunder that both parties benefit from the cost efficiencies of leveraging each others data, and with BioAtla, or its licensee, developing and
commercializing the [***] in the ROW, the parties anticipate that Himalaya may require fewer patients to advance the [***] in the Territory, since it will use the ROW data from BioAtla to support its studies. Himalaya will be responsible for and
fund [***] of the Costs of Commercialization in the Territory; 

  

 
 [***] Certain information in this
document has been omitted from this exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed. 

	 	c)	 [***]: Himalaya will pay to BioAtla [***] within [***] business days from notice from BioAtla of its IND filing
in the US. Further, (i) upon submission of a IND in its Territory, Himalaya will pay to BioAtla [***] for, and BioAtla will deliver to Himalaya, sufficient supply of [***] GMP manufactured material for at least [***] patients; (ii) in the
event the Parties jointly decide to perform the entire P1 Clinical Trial in the Territory, or the entire P1 Clinical Trial in the ROW, Himalya shall be responsible for [***] of the direct costs (for clarity, direct costs do not include overhead) for
such P1 Clinical Trial costs, and BioAtla shall be responsible for the remainder of such P1 Clinical Trial costs for such shared P1 Clinical Trial; in the event the P1 Clinical Trial is comprised of patients from both the Territory and ROW, Himalaya
shall be responsible for the costs for the patients in the study that are in the Territory, up to [***] of the total patients for the worldwide study, and BioAtla shall be responsible for the remainder of the costs; (iii) Himalaya will conduct
and fund [***] of the P2 Clinical Trial Territory patient costs, solely to the extent required for Himalaya to advance the [***] in the Territory for its desired indication(s), while leveraging BioAtla’s ROW P2 patient data, which may be
approximately [***] per indication, or more, in the Territory; for clarity, in the event the P2 Clinical Trial is comprised of patients from both the Territory and ROW for a particular indication, Himalaya shall be responsible for the costs for the
patients in the study that are in the Territory, solely up to [***] of the total patients for the worldwide study, and BioAtla shall be responsible for the remainder of the costs; (iv) Himalaya will conduct and fund [***] of a P3 Clinical Trial
in the Territory, if required, and (v) Himalaya shall make the royalty and milestone payments as set forth in (3) and (4) below. For clarity, Himalaya shall have the right to use all relevant BioAtla Clinical Data to support its Clinical
Trials and Regulatory Filings in the Territory, and BioAtla shall have the right to use all relevant Himalaya Clinical Data to support its Clinical Trials and Regulatory Filings in the ROW. It is the anticipated by the parties hereunder that both
parties benefit from the cost efficiencies of leveraging each others data, and with BioAtla, or its licensee, developing and commercializing the [***] in the ROW, the parties anticipate that Himalaya may require fewer patients to advance the [***]
in the Territory, since it will use the ROW data from BioAtla to support its studies. Himalaya will be responsible for and fund [***] of the Costs of Commercialization in the Territory; 

 

	 	d)	 [***]: Himalaya will pay to BioAtla [***] within [***] business days from notice from BioAtla of its IND filing
in the US. Further, (i) upon submission of a IND in its Territory, Himalaya will pay to BioAtla [***] for, and BioAtla will deliver to Himalaya, sufficient supply of [***] GMP manufactured material for at least [***] patients; (ii) in the
event the Parties jointly decide to perform the entire P1 Clinical Trial in the Territory, or the entire P1 Clinical Trial in the ROW, Himalya shall be responsible for [***] of the direct costs (for clarity, direct costs do not include overhead) for
such P1 Clinical Trial costs, and BioAtla shall be responsible for the remainder of such P1 Clinical Trial costs for such shared P1 Clinical Trial; in the event the P1 Clinical Trial is comprised of patients from both the Territory and ROW, Himalaya
shall be responsible for the costs for the patients in the study that are in the [***] Territory, up to [***] of the total patients for the worldwide study, and BioAtla shall be responsible for the remainder of the costs; (iii) Himalaya will
conduct and fund [***] of the P2 Clinical Trial Territory patient costs, solely to the extent required for Himalaya to advance the [***] in the Territory for its desired indication(s), while leveraging BioAtla’s ROW P2 patient data, which may
be approximately [***] patients per indication, or more, in the Territory; for clarity, in the event the P2 Clinical Trial is comprised of patients from both the Territory and ROW for a particular indication, Himalaya shall be responsible for the
costs for the patients in the study that are in the Territory, solely up to [***] of the total patients for the worldwide study, and BioAtla shall be responsible for the remainder of the costs; (iv) Himalaya will conduct and fund [***] of a P3
Clinical Trial in the Territory, if required, and (v) Himalaya shall make the royalty and milestone payments as set forth in (3) and (4) below. For clarity, Himalaya shall have the right to use all relevant BioAtla Clinical Data to support
its Clinical Trials and Regulatory Filings in the Territory, and BioAtla shall have the right to use all relevant Himalaya Clinical Data to support its Clinical Trials and Regulatory Filings in the ROW. It is the anticipated by the parties hereunder
that both parties benefit from the cost efficiencies of leveraging each 

  

 
 [***] Certain information in this
document identified by brackets has been omitted because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed. 

	 	
others data, and with BioAtla, or its licensee, developing and commercializing the [***] in the ROW, the parties anticipate that Himalaya may require fewer patients to advance the [***] in the
Territory, since it will use the ROW data from BioAtla to support its studies. Himalaya will be responsible for and fund [***] of the Costs of Commercialization in the Territory; 

 

	 	e)	 [***]: Himalaya shall pay BioAtla [***] to initiate work under a Development Plan to develop the [***] to a
LEAD. Upon delivery of the LEAD and Data Package, under the Development Plan, Himalaya will pay BioAtla [***]. Himalaya will pay to BioAtla [***] within the earlier of: a) [***] business days from notice from BioAtla of its IND filing in the US, or
b) [***] days from Himalaya filing its IND in the Territory. Further, in the event BioAtla is advancing development of [***] in ROW, Himalaya shall pay BioAtla, and the parties shall share costs, as follows: (i) upon submission of a IND in its
Territory, Himalaya will pay to BioAtla [***] for, and BioAtla will deliver to Himalaya, sufficient supply of [***] manufactured material for at least [***] patients; (ii) in the event the Parties jointly decide to perform the entire P1
Clinical Trial in the Territory, or the entire P1 Clinical Trial in the ROW, Himalya shall be responsible for [***] of the direct costs (for clarity, direct costs do not include overhead) for such P1 Clinical Trial costs, and BioAtla shall be
responsible for the remainder of such P1 Clinical Trial costs for such shared P1 Clinical Trial; in the event the P1 Clinical Trial is comprised of patients from both the Territory and ROW, Himalaya shall be responsible for the costs for the
patients in the study that are in the Territory, up to [***] of the total patients for the worldwide study, and BioAtla shall be responsible for the remainder of the costs; (iii) Himalaya will conduct and fund [***] of the P2 Clinical Trial
Territory patient costs, solely to the extent required for Himalaya to advance the [***] in the Territory for its desired indication(s), while leveraging BioAtla’s ROW P2 patient data, which may be approximately [***] patients per indication,
or more, in the Territory; for clarity, in the event the P2 Clinical Trial is comprised of patients from both the Territory and ROW for a particular indication, Himalaya shall be responsible for the costs for the patients in the study that are in
the Territory, solely up to [***] of the total patients for the worldwide study, and BioAtla shall be responsible for the remainder of the costs; (iv) Himalaya will conduct and fund [***] of a P3 Clinical Trial in the Territory, if required,
and (v) Himalaya shall make the royalty and milestone payments as set forth in (3) and (4) below. For clarity, Himalaya shall have the right to use all relevant BioAtla Clinical Data to support its Clinical Trials and Regulatory Filings in
the Territory, and BioAtla shall have the right to use all relevant Himalaya Clinical Data to support its Clinical Trials and Regulatory Filings in the ROW. It is the anticipated by the parties hereunder that both parties benefit from the cost
efficiencies of leveraging each others data, and with BioAtla, or its licensee, developing and commercializing the [***] in the ROW, the parties anticipate that Himalaya may require fewer patients to advance the [***] in the Territory, since it will
use the ROW data from BioAtla to support its studies. In the event BioAtla decides not to advance development of the [***] in the ROW in the [***] Lead Designation Notice, Himalaya shall be responsible for [***] of the remaining development costs
for the [***] in the Territory. Himalaya will be responsible for and fund [***] of the Costs of Commercialization in the Territory; 

  

	 	f)	 [***]: Himalaya will pay to BioAtla [***] within [***] business days from notice from BioAtla of its IND filing
in the US. Further, (i) upon submission of a IND in its Territory, Himalaya will pay to BioAtla [***] for, and BioAtla will deliver to Himalaya, sufficient supply of [***] GMP manufactured material for at least [***] patients; (ii) in the
event the Parties jointly decide to perform the entire P1 Clinical Trial in the Territory, or the entire P1 Clinical Trial in the ROW, Himalya shall be responsible for [***] of the direct costs (for clarity, direct costs do not include overhead) for
such P1 Clinical Trial costs, and BioAtla shall be responsible for the remainder of such P1 Clinical Trial costs for such shared P1 Clinical Trial; in the event the P1 Clinical Trial is comprised of patients from both the Territory and ROW, Himalaya
shall be responsible for the costs for the patients in the study that are in the Territory, up to [***] of the total patients for the worldwide study, and BioAtla shall be responsible for the remainder of the costs; (iii) Himalaya will conduct
and fund [***] of the P2 Clinical Trial Territory patient costs, solely to the extent required for Himalaya to advance the [***] in the Territory for its desired indication(s), while leveraging BioAtla’s ROW P2 patient data, which may be
approximately [***] patients per indication, or 

  

 
 [***] Certain information in this
document has been omitted from this exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed. 

	 	
more, in the Territory; for clarity, in the event the P2 Clinical Trial is comprised of patients from both the Territory and ROW for a particular indication, Himalaya shall be responsible for the
costs for the patients in the study that are in the Territory, solely up to [***] of the total patients for the worldwide study, and BioAtla shall be responsible for the remainder of the costs; (iv) Himalaya will conduct and fund [***] of a P3
Clinical Trial in the Territory, if required, and (v) Himalaya shall make the royalty and milestone payments as set forth in (3) and (4) below. For clarity, Himalaya shall have the right to use all relevant BioAtla Clinical Data to support
its Clinical Trials and Regulatory Filings in the Territory, and BioAtla shall have the right to use all relevant Himalaya Clinical Data to support its Clinical Trials and Regulatory Filings in the ROW. It is the anticipated by the parties hereunder
that both parties benefit from the cost efficiencies of leveraging each others data, and with BioAtla, or its licensee, developing and commercializing the [***] in the ROW, the parties anticipate that Himalaya may require fewer patients to advance
the [***] in the Territory, since it will use the ROW data from BioAtla to support its studies. Himalaya will be responsible for and fund [***] of the Costs of Commercialization in the Territory; 

 

	 	g)	 [***]: BioAtla shall transfer the [***] after LEAD, and Himalaya will pay to BioAtla [***] within ten
(10) business days of its IND filing in the Territory. Himalaya will conduct all development (including manufacturing) and commercialization activities and [***] of all Costs of Development and Costs of Commercialization in the Territory.
Himalaya shall make the royalty and milestone payments as set forth in (3) and (4) below; 

  

	 	h)	 [***]: Himalaya shall pay BioAtla [***] to initiate work under a Development Plan to develop the [***] to a
LEAD. Upon delivery of the LEAD and Data Package, under the Development Plan, Himalaya will pay BioAtla [***]. Further, Himalaya will pay to BioAtla [***] within [***] business days of IND filing of the [***] in the Territory. Himalaya will conduct
all development (including manufacturing) and commercialization activities, and fund [***] of all Costs of Development and Costs of Commercialization in the Territory. Himalaya shall make the royalty and milestone payments as set forth in
(3) and (4) below; 

  

	 	i)	 [***]: The parties shall jointly develop and commercialize
(“Co-Develop”) the [***] as set forth under the Development Plan and Commercialization Plan, and shall share equally in all costs and all proceeds related thereto. BioAtla shall have the option to opt-out of the plan to Co-Develop the [***] by providing Himalaya written notice by [***] (“Opt-Out Notice”). Upon the Opt-Out Notice, BioAtla shall transfer the [***], including the relevant Data Package, to Himalaya, and Himalaya shall have the right to continue development and commercialization of the [***] itself in the
Territory. If BioAtla decides to opt-out of the plan to Co-Develop, and Himalaya elects to continue development and commercialization, Himalaya will (i) conduct all
development (including manufacturing) and commercialization activities and fund [***] of all Costs of Development and Costs of Commercialization in the Territory, including all costs of manufacturing (ii) pay to BioAtla [***] within [***]
business days of IND filing of the [***], Himalaya shall make the royalty and milestone payments as set forth in (3) and (4) below; 

  

	 	j)	 Any CAB Antibody subject to a Preclinical Development Termination: BioAtla shall transfer a CAB Antibody
subject to a Preclinical Development Termination as set forth in 3.2(f) above, including the Data Package. 

  

	2)	 In the event Himalaya exercises its option to license a New Option Antibody as set forth under 3.2 above,
Himalaya shall make the following payments to BioAtla, and shall bear Costs of Development under, and in accordance with, each Development Plan, and Costs of Commercialization under, and in accordance with, each Commercialization Plan. Such payments
and costs shall specifically include the following: 

  

	 	a)	 [***] within [***] business days following written notice from the JDCC to BioAtla that Himalaya desires to
proceed with a CAB-OPTION antibody; [***] within [***] business days following Himalaya’s IND submission in the Territory. Further, (i) in the event the Parties jointly decide to perform the entire
P1 Clinical Trial in the Territory, or the entire P1 Clinical Trial in the ROW, Himalya shall be responsible for 

  

 
 [***] Certain information in this
document has been omitted from this exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed. 

	 	
[***] of the direct costs (for clarity, direct costs do not include overhead) for such P1 Clinical Trial costs, and BioAtla shall be responsible for the remainder of such P1 Clinical Trial costs
for such shared P1 Clinical Trial; in the event the P1 Clinical Trial is comprised of patients from both the CAB-OPTION Territory and ROW, Himalaya shall be responsible for the costs for the patients in the
study that are in the CAB-OPTION Territory, up to [***] of the total patients for the worldwide study, and BioAtla shall be responsible for the remainder of the costs; (iii) Himalaya will conduct and fund
[***] of the P2 Clinical Trial Territory patient costs, solely to the extent required for Himalaya to advance the CAB-OPTION in the CAB-OPTION Territory for its desired
indication(s), while leveraging BioAtla’s ROW P2 patient data, which may be approximately [***] patients per indication, or more, in the CAB-OPTION Territory; for clarity, in the event the P2 Clinical
Trial is comprised of patients from both the CAB-OPTION Territory and ROW for a particular indication, Himalaya shall be responsible for the costs for the patients in the study that are in the CAB-OPTION Territory, solely up to [***] of the total patients for the worldwide study, and BioAtla shall be responsible for the remainder of the costs; (iv) Himalaya will conduct and fund [***] of a P3
Clinical Trial in the Territory, if required, and (v) Himalaya shall make the royalty and milestone payments as set forth in (3) and (4) below; and 

  

	 	b)	 royalties and milestones payable pursuant to this Section 5.1. 

 

	3)	 Royalty. Himalaya shall pay BioAtla, on a country-by-country basis for each Calendar Quarter during the applicable Royalty Term, [***] 

  

	4)	 Other CAB Antibody Payments. Subject to other payments due hereunder, upon (i) Himalaya becoming a
publicly traded company on any stock exchange, or (ii) Himalaya experiencing a Change of Control, Himalaya shall pay BioAtla (i) [***] of any Milestone Payment received for CAB Antibodies, or (ii) if Himalaya or any Affiliate or Licensee
develops and commercializes Products itself the development and sales milestone payments that are set forth below upon the first achievement by or on behalf of Himalaya, its Affiliates or its Licensees with respect to the first Product that achieves
such event. For clarity, each milestone set forth below shall be due and payable one time only (regardless of the number of Products to achieve any such development and sales milestone event within the Territory). 

 

					
	 Event
	  	Milestone Payment Amount	 
	 [***]
	  	 	[	***] 

  
  

[***] Certain information in this document identified by brackets has been omitted because it is both (i) not material and (ii) would be competitively
harmful if publicly disclosed. 

 EXHIBIT H 

Assignment Form 

CONFIRMATORY PATENT ASSIGNMENT 
 This is a
Confirmatory Patent Assignment (this “Assignment”) dated effective [DATE] by and between BioAtla, LLC (“Assignor”) on one hand, and Himalaya Therapeutics Hong Kong (“Assignee”) on the other hand. 

WHEREAS, pursuant to an Exclusive Rights agreement between Assignor and Assignee dated as of [EFFECTIVE DATE] (the “Agreement”), the
Assignor agreed to transfer, sell, and assign to Assignee all of its rights, title, and interest in corresponding patent applications or patents in the People’s Republic of China, the Special Administrative Regions of Hong Kong and Macao, and
in Taiwan based on the PCT Patent Application Serial No. [NUMBER] (“Patents”). 
 NOW, THEREFORE, for good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, Assignor hereby confirms having assigned, transferred, conveyed, and delivered to the Assignee, its successors and assigns, effective as of the date first referred to above,
all right, title, and interest of the Assignor in and to the Patents; the same to be held and enjoyed by the Assignee for its own use and enjoyment and for the use and enjoyment of its successors, assigns, and other legal representatives, to the end
of the term or terms for which the Patents are issued, granted, reissued, or extended, as fully and entirely as the same would have been held and enjoyed by the Assignor. 

IN WITNESS WHEREOF, the undersigned has caused this Assignment to be duly executed and delivered. 

 

											
	BioAtla LLC, a California company	  	        	  		  		  	
	(Assignor)	  		  		  		  	
						
	By:	  	              
	  		  	Date:	  	  
	  	
	Name:	  	Jay M. Short, PhD	  		  		  		  	
	Title:	  	Chairman & CEO	  		  		  		  	
					
	Himalaya Therapeutics Hong Kong	  		  		  		  	
	(Assignee)	  		  		  		  	
						
	By:	  	
                 
	  		  	Date:	  	  
	  	
	Name:	  	Carolyn Anderson Short	  		  		  		  	
	Title:	  	Managing Director	  		  		  		  	

 EXHIBIT I 

Default Assignment Form 

CONFIRMATORY PATENT ASSIGNMENT 
 This is a
Confirmatory Patent Assignment (this “Assignment”) dated effective [DATE] by and between Himalaya Therapeutics Hong Kong (“Assignor”) on one hand, and BioAtla, LLC (“Assignee”) on the other hand. 

WHEREAS, pursuant to a Exclusive Rights agreement between Assignor and Assignee dated as of [EFFECTIVE DATE] (the “Agreement”), the
Assignor agreed to transfer, sell, and assign to Assignee all of its rights, title, and interest in corresponding patent applications or patents in the People’s Republic of China, the Special Administrative Regions of Hong Kong and Macao, and
in Taiwan based on the PCT Patent Application Serial No. [NUMBER] (“Patents”). 
 NOW, THEREFORE, for good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, Assignor hereby confirms having assigned, transferred, conveyed, and delivered to the Assignee, its successors and assigns, effective as of the date first referred to above,
all right, title, and interest of the Assignor in and to the Patents; the same to be held and enjoyed by the Assignee for its own use and enjoyment and for the use and enjoyment of its successors, assigns, and other legal representatives, to the end
of the term or terms for which the Patents are issued, granted, reissued, or extended, as fully and entirely as the same would have been held and enjoyed by the Assignor. 

IN WITNESS WHEREOF, the undersigned has caused this Assignment to be duly executed and delivered. 

 

											
	Himalaya Therapeutics Hong Kong	  	        	  		  		  	
	(Assignor)	  		  		  		  	
						
	By:	  	
                 
	  		  	Date:	  	  
	  	
	Name:	  	Carolyn Anderson Short	  		  		  		  	
	Title:	  	Managing Director	  		  		  		  	
					
	BioAtla LLC, a California company	  		  		  		  	
	(Assignee)	  		  		  		  	
						
	By:	  	
                 
	  		  	Date:	  	  
	  	
	Name:	  	Jay M. Short, PhD	  		  		  		  	
	Title:	  	Chairman, CEO & PresidentEX-10.5

 Exhibit 10.5 

Certain information in this document identified by brackets has been omitted because it is both (i) not material and (ii) would be competitively harmful if
publicly disclosed. 
 EXECUTION COPY 

EXCLUSIVE LICENSE AGREEMENT 

INVERSAGEN LLC AND BIOATLA, LLC 

THIS EXCLUSIVE LICENSE AGREEMENT
(“Agreement”) is entered into as of March 15, 2019 (the “Execution Date”), by and between INVERSAGEN LLC, a Delaware limited liability company, (the
“Company”), and BIOATLA, LLC, a Delaware limited liability company (“BioAtla”). 

RECITALS 

WHEREAS, BioAtla has developed, and possesses intellectual property rights in and to, its proprietary CAB Biologics
platform for the design and engineering of therapeutic monoclonal antibodies and other therapeutic proteins for selective conditional activation under specific microphysical conditions, and related proprietary technologies for the discovery and
development of CAB Biologics therapeutic antibodies and proteins; 
 WHEREAS, the Company desires to obtain, and
BioAtla is willing to grant to the Company, an exclusive, worldwide license under the BioAtla Licensed Technology (defined below) to develop and commercialize Products (defined below) for the treatment of diseases related to senescent cell therapy
in the Field, on the terms and subject to the conditions set forth herein. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants set forth below, and
for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 
  

	1.	 DEFINITIONS. 

1.1 “Affiliate” shall mean, as to an Entity, any other Entity that, directly or indirectly, controls, is
controlled by or is under common control with such Entity, as the case may be, for so long as such control exists. As used in this Section 1.1, “control” means: (a) to possess, directly or indirectly, the power to direct the
management and policies of an Entity, whether through ownership of voting securities or by contract relating to voting rights or corporate governance; or (b) direct or indirect beneficial ownership of at least fifty percent (50%) (or such
lesser percentage that is the maximum allowed to be owned by a foreign Entity in a particular jurisdiction and is sufficient to grant the holder of such voting stock or interest the power to direct the management and policies of such entity) of the
voting share capital in an Entity. For purposes of this Agreement, neither Company nor BioAtla shall be deemed an Affiliate of the other Party. 

1.2 “Anti-Corruption Laws” means the U.S. Foreign Corrupt Practices Act, as amended, the Organization
for Economic Co-operation and Development (OECD) Convention on combating bribery of foreign public officials in international business transactions, and any other comparable anti-corruption laws of any country
or organization or nations within whose jurisdiction either party or any of its Affiliates operates or does business. 

  
 1. 

 1.3 “Applicable Laws” shall mean the applicable provisions of any and all
national, supranational, regional, state and local laws, treaties, statutes, rules, regulations, administrative codes, guidances, ordinances, judgments, decrees, directives, injunctions, orders, permits of or from any court, arbitrator, regulatory
authority or governmental agency or authority having jurisdiction over or related to the subject item, including Anti-Corruption Laws and Export Control Laws. 

1.4 “Assert” or “Assertion” shall mean to commence or prosecute patent infringement Litigation, or to make an
express, specific written threat (such as, without limitation, a cease and desist demand letter) to commence or prosecute patent infringement Litigation. 

1.5 “BioAtla Invention” shall mean any invention, whether or not patentable, made solely by one or more employees, consultants
or contractors of BioAtla and its Affiliates in the course and as a result of the performance of the activities contemplated by Article 3. 

1.6 “BioAtla Licensed Know-How” shall mean all Information Controlled by BioAtla and
its Affiliates during the Collaboration Period that is necessary or useful for the development, manufacture, or commercialization of Products, including BioAtla Inventions but excluding BioAtla’s interest in Joint Inventions. 

1.7 “BioAtla Licensed Patents” shall mean all Patent Rights Controlled by BioAtla during the Term covering or claiming any
invention (including any BioAtla Invention but excluding any Joint Invention) Controlled by BioAtla during the Collaboration Period that is necessary or useful for the development, manufacture, or commercialization of Products. The BioAtla Licensed
Patents existing as of the Execution Date include the patents and patent applications listed in Exhibit 1 hereto. For clarity, BioAtla Licensed Patents exclude BioAtla’s interest in Joint Patents. 

1.8 “BioAtla Licensed Technology” shall mean BioAtla Licensed Patents and BioAtla Licensed
Know-How. 
 1.9 “BioAtla Non-Assert Patent”
shall mean any Patent Right (excluding any BioAtla Licensed Patent) Controlled by BioAtla during the Term that claims any invention made solely by one or more employees, consultants or contractors of BioAtla after the Collaboration Period in the
course and as a result of using or practicing Company Licensed Technology. 
 1.10 “Business Day” means a day other than a
Saturday or Sunday or any other day on which commercial banks in San Diego, California are authorized or required by Applicable Law to close. 

1.11 “CAB Biologics” shall mean a conditionally active biologic therapeutic molecule (which may, but need not, be a monoclonal
antibody) that induces a tumor selective increase in any Potential Target antigen binding and is designed or developed for selective conditional activation under specific microphysical conditions. 

1.12 “CAST” shall mean BioAtla’s proprietary conditionally active biologic therapeutic technology known as Conditionally
Active Senescent Therapies which applies CAB Biologics’s for the treatment of age-related diseases, as more specifically described on Schedule A. 

  
 2. 

 1.13 “Change of Control” of a Party means any of the following, in a single
transaction or a series of related transactions: (a) the sale or disposition of all or substantially all of the assets of such Party to a Third Party, (b) the direct or indirect acquisition by a Third Party (other than an employee benefit
plan (or related trust) sponsored or maintained by such Party or any of its Affiliates) of beneficial ownership of more than fifty percent (50%) of the then-outstanding common shares or voting power of such Party or any direct or indirect entity
which holds, directly or indirectly, beneficial ownership of more than fifty percent (50%) of the then-outstanding common shares or voting power of such Party (a “Parent Entity”), or (c) the merger or consolidation of such
Party or any Parent Entity with or into a Third Party, unless, following such merger or consolidation, the stockholders of such Party or Parent Entity immediately prior to such merger or consolidation beneficially own directly or indirectly more
than fifty percent (50%) of the then-outstanding common shares or voting power of the entity resulting from such merger or consolidation. 

1.14 “Collaboration Period” shall mean the period beginning on the Execution Date and expiring on the later of (a) third
(3rd) anniversary of the Execution Date and (b) completion of the last project under a Project Plan. 

1.15 “Company Invention” shall mean any invention, whether or not patentable, made solely by one or more employees,
consultants or contractors of the Company (other than by BioAtla or its Affiliates pursuant to Article 3 hereof) during the Collaboration Period in the course and as a result of using or practicing BioAtla Licensed Technology that is necessary
or useful for the development, manufacture, or commercialization of Products outside the Field. 
 1.16 “Company Licensed Know-How” shall mean all Information generated or developed by or on behalf of the Company (other than by BioAtla or its Affiliates pursuant to Article 3 hereof) during the Collaboration Period in the
course and as a result of using or practicing BioAtla Licensed Technology that is necessary or useful for the development, manufacture, or commercialization of Products outside the Field, including Company Inventions but excluding Company’s
interest in Joint Inventions. 
 1.17 “Company Licensed Patents” shall mean all Patent Rights Controlled by the Company
during the Term covering or claiming any Company Invention. For clarity, Company Licensed Patents exclude the Company’s interest in Joint Patents. 

1.18 “Company Licensed Technology” shall mean Company Licensed Patents and Company Licensed
Know-How. 
 1.19 “Company Non-Assert
Patent” shall mean any Patent Right (excluding any Company Licensed Patent) Controlled by the Company during the Term that claims any invention made solely by one or more employees, consultants or contractors of the Company during the Term
but after the Collaboration Period in the course and as a result of using or practicing BioAtla Licensed Technology. 
 1.20
“Confidential Information” shall have the meaning provided in Section 5.1. 

  
 3. 

 1.21 “Control” or “Controlled by” shall mean, with respect
to any Patent Rights, Information or other intellectual property rights, the possession by a party of the ability (whether by ownership, license or other right, other than pursuant to a license granted to such party by the other party under this
Agreement) to grant access to, or a license or sublicense of, such Patent Rights, Information or other intellectual property rights without violating the terms of any agreement or other arrangement with any Third Party. Notwithstanding the
foregoing, for the purpose of defining whether intellectual property rights, Patent Rights, Information or Confidential Information is Controlled by a Party, if such intellectual property, Patent Rights, Information or Confidential Information is
first acquired, licensed or otherwise made available to such Party after the Execution Date and if the use, practice or exploitation thereof by or on behalf of the other Party, its Affiliates or sublicensees would require the first Party to pay any
amounts to the Third Party from which the first Party acquired, licensed or otherwise obtained such intellectual property rights, Patent Rights, Information or Confidential Information (“Additional Amounts”), such intellectual
property rights, Patent Rights, Information or Confidential Information shall be deemed to be Controlled by the first Party only if the other Party agrees to pay (if necessary) and does in fact pay all Additional Amounts with respect to such other
Party’s use of or license to such intellectual property rights, Patent Rights, Information or Confidential Information to the extent specified in this Agreement. 

1.22 “[***] Product” shall mean the candidate known as [***]. 

1.23 “Entity” shall mean any company, corporation, limited liability company, partnership, joint venture, firm, trust or other
business entity. 
 1.24 “Exclusive License” shall have the meaning provided in Section 2.1. 

1.25 “Exclusive Non-CAST License” shall have the meaning provided in
Section 2.2. 
 1.26 “Execution Date” shall have the meaning provided in the introductory paragraph of this Agreement.

 1.27 “Export Control Laws” shall mean: (a) all applicable U.S. export control laws, including the Arms Export
Controls Act (22 U.S.C. Ch. 39), the International Emergency Economic Powers Act (50 U.S.C. §§ 1701 et seq.), the Trading With the Enemy Act (50 U.S.C. app. §§ 1 et seq.), the Export Administration Act of 1979 (50 U.S.C. app.
§§ 2401 et seq.), International Boycott Provisions of Section 999 of the U.S. Internal Revenue Code of 1986, and all rules, regulations and executive orders relating to any of the foregoing, including but not limited to the
International Traffic in Arms Regulations (22 C.F.R. §§ 120 et seq.), the Export Administration Regulations (15 C.F.R. §§ 730 et. seq.), and the regulations administered by the Office of Foreign Assets Controls of the United
States Department of the Treasury; and (b) all export controls imposed on any item by any country or organization or nations within whose jurisdiction either party operates or does business. 

1.28 “Field” (a) with respect to all [***] shall mean the diagnosis, prevention, palliation or treatment of all diseases
(excluding oncology) in humans involving (i) senescent cell elimination therapy, and (ii) the use of [***] for diagnostic products which are included in the field described in clause (i) and (b) [***]. 

 
  

[***] Certain information in this document identified by brackets has been omitted because it is both (i) not material and (ii) would be
competitively harmful if publicly disclosed. 

  
 4. 

 1.29 “First Commercial Sale” means the first commercial sale of a Product
by Company, its Affiliates, or Selling Parties in a country in an arms’ length transaction to a Third Party following receipt of applicable Regulatory Approval of such Product in such country. Sales for test marketing or clinical trial purposes
shall not constitute a First Commercial Sale; provided, that, on a country-by-country basis, with respect to any named patient sales, expanded access sales or similar
sales to Third Parties by the Selling Parties prior to receipt of Regulatory Approval of the Product in any country (on a country-by-country basis, the “Pre-Regulatory Approval Period”), all such sales shall be included in Net Sales. The Parties understand and agree that any such sales during the applicable
Pre-Regulatory Approval Period shall not be deemed to trigger the “First Commercial Sale” for purposes of commencing the Royalty Term. 

1.30 “Information” shall mean any and all tangible and intangible (a) techniques, technology, practices, trade secrets,
inventions (whether patentable or not), methods, knowledge, know-how, skill, experience, test data and results (including pharmacological, toxicological and clinical test data and results), analytical and
quality control data, results or descriptions, software and algorithms, and (b) compositions of matter, cells, cell lines, assays, animal models and physical, biological or chemical material. 

1.31 “Invention” shall mean a BioAtla Invention, Company Invention or Joint Invention. 

1.32 “Joint Invention” shall mean any invention, whether or not patentable, made jointly by one or more employees, consultants
or contractors of BioAtla or its Affiliates and one or more employees, consultants or contractors of Company in the course and as a result of the performance of the activities contemplated by Article 3. 

1.33 “Joint Patents” shall mean all Patent Rights claiming Joint Inventions. 

1.34 “Joint Technology” shall mean Joint Inventions and Joint Patents. 

1.35 “Limited CAB Rights” shall have the meaning provided in Section 2.1. 

1.36 “Litigation” means any procedure for the resolution of a controversy, whether created by a claim, a counterclaim or
otherwise, in whatever form, administrative, judicial, arbitral or otherwise, including any proceeding in the United States International Trade Commission or any regulatory authority in any jurisdiction in the world. 

1.37 “Materials” shall have the meaning provided in Section 3.3. 

1.38 “Net Sales” shall mean the gross amounts invoiced by or on behalf of the Company or any of
its Affiliates or sublicensees or assignees (each, a “Selling Party”) to Third Parties (other than another Selling Party) for sales or other dispositions of Products, less the following deductions
actually incurred, allowed, paid, accrued or otherwise specifically allocated to Products by the Selling Party, all in accordance with U.S. generally accepted accounting principles consistently applied: 

  
 5. 

 [***] 

1.39 “Patent Rights” shall mean (a) all national, regional and international patents and patent applications filed in any
country of the world, including without limitation provisional patent applications, (b) all patent applications filed either from such patents and patent applications or from a patent application claiming priority from either of these,
including any continuation, continuation-in-part, division, provisional, converted provisional and continued prosecution applications, or any substitute applications,
(c) any patent issued with respect to or in the future issued from any such patent applications including utility models, petty patents and design patents and certificates of invention, and (d) any and all extensions or restorations by
existing or future extension or restoration mechanisms, including revalidations, reissues, reexaminations and extensions (including any supplementary protection certificates and the like) of the foregoing patents or patent applications. 

1.40 “Person” means any individual, Entity, or governmental authority or agency, or any other entity not specifically listed
herein. 
 1.41 “Potential Target” means a protein or polypeptide or biological molecule, including all variants thereof and
any specific protein that is identified by a GenBank protein accession number or by its amino acid sequence and coded by a genetic locus. 

1.42 “Product” shall mean (a) any composition comprising or containing a CAB Biologic and (b) the [***] Product.

 1.43 “Regulatory Approval” means all approvals of each applicable regulatory authority necessary for the commercial
marketing and sale of a product for a particular indication in a country (including separate regulatory authority pricing or reimbursement approvals whether or not legally required in order to sell the product in such country). 

1.44 “Regulatory Exclusivity” means, with respect to a Product in a country, that the Product has been granted (a) data
exclusivity afforded approved drug products pursuant to Section 505(c), 505(j), or 505A of the Federal, Food, Drug and Cosmetic Act, and the regulations promulgated thereunder, as amended from time to time, or their equivalent in a country
other than the United States, (b) market exclusivity pursuant to the orphan drug provisions governing approved drugs designated for rare diseases or conditions under Sections 526 and 527 of the Federal, Food, Drug and Cosmetic Act, and the
regulations promulgated thereunder, as amended from time to time, or its equivalent in a country other than the United States, or (c) any other data exclusivity or market exclusivity pursuant to any future Applicable Law. 

1.45 “Royalty Term” shall have the meaning provided in Section 4.3. 

1.46 “Term” shall have the meaning provided in Section 8.1. 

1.47 “Territory” shall mean the entire world. 
  

 
 [***] Certain information in this
document identified by brackets has been omitted because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed. 

  
 6. 

 1.48 “Third Party” shall mean an entity other than BioAtla and its
Affiliates, and Company and its Affiliates. 
 1.49 “Valid Claim” shall mean: (a) a claim of an issued and unexpired
patent, which claim has not been revoked or held unenforceable or invalid by a decision of a court or governmental agency of competent jurisdiction, which decision is not appealable or has not been appealed within the time allowed for appeal, and
has not been abandoned, disclaimed, denied or admitted to be invalid or unenforceable through reissue, re-examination, disclaimer or otherwise; or (b) a patent application that has not been irretrievably
cancelled, withdrawn or abandoned and that has been pending for less than seven (7) years from the earliest worldwide priority date from which such claim takes priority. If a claim of a patent application that ceased to be a Valid Claim under
clause (b) of the preceding sentence because of the passage of time later issues as a part of a patent within clause (a) of the preceding sentence, then it shall again be considered a Valid Claim effective as of the issuance of such
patent. 
  

	2.	 EXCLUSIVE LICENSES. 

2.1 Exclusive License Grant to the Company. Subject to the terms and conditions of this Agreement, and effective on the Execution Date,
BioAtla hereby grants to Company, an exclusive (even as to BioAtla and its Affiliates, except as expressly set forth hereunder), worldwide, royalty-bearing license, with the right to sublicense through
multiple tiers of sublicense under the BioAtla Licensed Technology and BioAtla’s interest in the Joint Technology, solely to develop, make, have made, use, sell, have sold, offer for sale and import Products in the Field (the
“Exclusive License”). The Exclusive License includes, without limitation, the right under the BioAtla Licensed Technology, exercisable solely by the Company and its Affiliates to identify, develop,
make, have made, use and import CAB Biologics solely for the purpose of obtaining or generating Products in the Field (the “Limited CAB Rights”), subject, in each case, to the terms and conditions
of this Agreement. 
 2.2 Exclusive Non-CAST License Grant to BioAtla. Subject to the
terms and conditions of this Agreement, the Company hereby grants to BioAtla, an exclusive (even as to the Company and its Affiliates), worldwide, royalty-free and
fully-paid license, with the right to sublicense through multiple tiers of sublicense, under the Company Licensed Technology and the Company’s interest in the Joint Technology, solely to develop, make,
have made, use, sell, have sold, offer for sale and import Products (other than the [***] Product) outside the Field (the “Exclusive Non-CAST
License”). 
 2.3 Sublicensing. 

(a) By the Company. 

(i) Generally. The Company shall have the right to grant sublicenses under the Exclusive License through multiple tiers of sublicense
solely to develop, make, have made, use, sell, have sold, offer for sale and import Products in the Field; provided, however, that neither the Company nor any of its Affiliates may grant to any Third Party any sublicense under the Limited CAB
Rights to discover, identify, evolve, modify, develop, make, have made, use or import any CAB Biologic. 
  

 
 [***] Certain information in this
document identified by brackets has been omitted because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed. 

  
 7. 

 (b) By BioAtla. BioAtla shall have the right to grant sublicenses under the Exclusive
Non- CAST License through multiple tiers of sublicense solely to develop, make, have made, use, sell, have sold, offer for sale and import Products outside the Field. 

(c) General Requirements. 

(i) Each sublicense granted hereunder by a Party or its Affiliates shall be consistent with the requirements of this Agreement. 

(ii) Each Party granting a sublicense under this Agreement shall be primarily liable for any failure by its Affiliates and Selling
Parties and Third Party contractors to comply with all relevant restrictions, limitations and obligations in this Agreement. 
 (iii)
Each sublicense must be granted pursuant to a written sublicense agreement and, with respect to any sublicense other than a sublicense by a Party to an Affiliate of such Party, such Party must provide the other Party with a copy of any
sublicense agreement entered into within thirty (30) days after the execution of such sublicense agreement; provided that any such copy may be reasonably redacted to remove any confidential, proprietary or competitive information, but such copy
shall not be redacted to the extent that it impairs the other Party’s ability to ensure compliance with this Agreement. Such sublicense agreement shall be treated as Confidential Information of the sublicensing Party and no copies are required
with respect to sublicense agreements with Third Party contractors. 
 2.4 Technology Transfer. As soon as reasonably practical after
the Execution Date and thereafter upon Company’s reasonable request during the period ending twelve months after the Execution Date, BioAtla shall provide the Company with reasonable technical assistance in the practice of the BioAtla Licensed
Technology in the exercise of the Limited CAB Rights in the same manner and to the same extent as practiced by BioAtla. 
 2.5 License
Exclusions and Limitations. 
 (a) Exclusive License. 

(i) For clarity the Exclusive License specifically excludes any license or other right under the BioAtla Licensed Technology: 

(1) to make or have made any CAB Biologic, except as expressly permitted by this Agreement; 

(2) to sell, have sold or offer for sale any CAB Biologic, except as incorporated into a Product in the Field. 

(ii) In addition, the Exclusive License specifically excludes any license or other right under the BioAtla Licensed Technology to
develop, make, have made, use, sell, have sold, offer for sale or import Products outside of the Field. 
 (b) Exclusive Non-CAST License. For clarity, the Exclusive Non-CAST License specifically excludes any license or other right under the Company Licensed Technology to identify, develop,
make, have made, use, sell, have sold, offer for sale or import any Product in the Field. 

  
 8. 

 2.6 Retained Rights. Notwithstanding the exclusivity of the Exclusive License,
BioAtla reserves such non-exclusive rights under the BioAtla Licensed Technology and its interest in the Joint Technology as are necessary for BioAtla to perform its obligations hereunder. As between the
parties, BioAtla retains the exclusive right under the BioAtla Licensed Technology, to develop, make, have made, use, sell, have sold, offer for sale and import CAB Biologics outside the Field. 

2.7 Negative Covenants. 

(a) By BioAtla. 
 (i)
BioAtla hereby covenants: 
 (1) not to develop, make, have made, use, sell, have sold, offer for sale or import any Product
intended for use in the Field (based upon its approved product label), except with and through the Company and its Affiliates and sublicensees as expressly contemplated by this Agreement and the Sublicense Agreements; 

(2) not to use or practice the Company Licensed Technology to identify, develop, make, have made, use, sell, have sold, offer for sale
or import any Product intended for use in the Field (based upon its approved product label); and 
 (3) not to cause or permit, or
grant any license or other right to, any of its Affiliates or any Third Party to engage in any of the activities prohibited by the preceding subparagraphs of this Section. 

(ii) BioAtla covenants, on behalf of itself and its Affiliates, and its and their respective successors and assigns of any BioAtla Non-Assert Patent, that none of them will Assert against any Company Non-Assert Entity (as defined below), in any country or jurisdiction worldwide, any claim that the
manufacture, use, sale, offer for sale or import of any Product in the Field in accordance with the terms and conditions of this Agreement infringes a BioAtla Non-Assert Patent. The term
“Company Non-Assert Entity” means the Company, any of its Affiliates, any permitted Third Party sublicensee under the Exclusive License, or any Third Party
contractor performing services on behalf of any of the foregoing. The Assertion by BioAtla, any of its Affiliates, or any of its or their respective successors and assigns of any BioAtla Non-Assert Patent,
against a Company Non-Assert Entity (other than the Company) that has not been identified to BioAtla by the Company in writing shall not be deemed to breach the covenant set forth in this
Section 2.7(a)(ii), provided that such Assertion and any and all Litigation relating thereto cease within 30 days after written notice from the Company identifying the applicable Affiliate or Third Party as a Company Non-Assert Entity. Notwithstanding anything to the contrary, BioAtla shall have no obligation to disclose to the Company any BioAtla Non-Assert Patent. 

  
 9. 

 (b) By Company. 

(i) Notwithstanding the scope of the Exclusive License, the Company hereby covenants: 

(1) during the Term, not to develop, make, have made, use, sell, have sold, offer for sale or import any CAB Biologic hereunder, except
as incorporated in a Product intended for use in the Field (based on its approved product label); 
 (2) during the Term, not to
develop, make, have made, use, sell, have sold, offer for sale or import outside of the Field (other than as expressly permitted by Section 2.5(a)(ii)) any Product that incorporates any CAB Biologic; 

(3) not to cause or permit, or grant any sublicense or other right to, any of its Affiliates or any Third Party to engage in any of the
activities prohibited by the preceding subparagraphs of this Section 2.7(b); 
 (4) not to cause or permit any Third Party
(other than a Third Party service provider performing contract services on behalf of the Company in accordance with Section 2.8 solely for the purpose of performing such services) to make or have made any CAB Biologic; and 

(5) not to cause or permit, and not to grant any sublicense or other right to, any Third Party: 

a. to sell, have sold or offer for sale any CAB Biologic; or 

b. to sell, have sold or offer for sale any CAB Biologic component, except as incorporated in a Product in the Field; subject to
Section 2.5(a)(ii). 
 (ii) The Company covenants, on behalf of itself and its Affiliates, and its and their respective
successors and assigns of any Company Non-Assert Patent, that none of them will Assert against any BioAtla Non-Assert Entity (as defined below), in any country or
jurisdiction worldwide, any claim that the manufacture, use, sale, offer for sale or import of any Product in the Field in accordance with the terms and conditions of this Agreement infringes a Company
Non-Assert Patent. The term “BioAtla Non-Assert Entity” means BioAtla, any of its Affiliates, any permitted Third
Party sublicensee under the Exclusive Non-CAST License, or any Third Party contractor performing services on behalf of any of the foregoing. The Assertion by the Company, any of its Affiliates, or any of its
or their respective successors and assigns of any Company Non-Assert Patent, against a BioAtla Non-Assert Entity (other than BioAtla) that has not been identified to the
Company by BioAtla in writing shall not be deemed to breach the covenant set forth in this Section 2.7(b)(ii), provided that such Assertion and any and all Litigation relating thereto cease within 30 days after written notice from
BioAtla identifying the applicable Affiliate or Third Party as a BioAtla Non-Assert Entity. Notwithstanding anything to the contrary, the Company shall have no obligation to disclose to BioAtla any Company Non-Assert Patent. 

  
 10. 

 2.8 Use of Third Party Contractors. Each party may engage Third Party contract
service providers to perform on behalf of such party any activity that such party itself has the right to conduct under the license granted to such party in Section 2.1 or Section 2.2 (as applicable); provided, in each case, that:
(a) such party shall require any such Third Party service provider to take all reasonable steps and use all reasonable measures to prevent unauthorized disclosure and unauthorized use of the Patent Rights and Information licensed to such party
under Section 2.1 or Section 2.2 (as applicable); (b) none of the other party’s rights hereunder are diminished or otherwise adversely affected as a result of such contracting; (c) each such contractor undertakes in writing
obligations of confidentiality and non-use regarding Confidential Information of the other party at least as stringent as those undertaken by such party pursuant to Article 5; (d) prior to initiating
performance of any such contract services, such Third Party service provider has signed a binding written agreement or instrument assigning, and agreeing to assign, to such party all Inventions resulting from performance of such services; and
(e) such party shall at all times be fully responsible for the compliance of such Third Party service provider with the terms and conditions of this Agreement. 

2.9 No Implied Licenses. No right or license under any Information, Patent Rights or other intellectual property rights is granted or
shall be granted by implication. All such rights or licenses are or shall be granted only as expressly provided in the terms of this Agreement. 
  

	3.	 PROJECT PLANS. 

3.1 Project(s). During the Collaboration Period, BioAtla and Inversagen shall mutually agree in writing after discussions in good faith
to specific projects for BioAtla to discover and transfer CAB Biologics to Inversagen under specified project plan(s) (each, a “Project Plan”). 

3.2 Project Plans. 

(i) Each Project Plan shall be attached to this Agreement as Schedule 1 and sequentially numbered (i.e., Schedule 1, Project 1, etc.).
Each Project Plan shall describe and define the project, the CAB Biologic protein target, the estimated schedule for performance of the project, the total costs for the Project and the payment schedule therefor. Any work requested outside of a
Project Plan will require entering into a new Project Plan, or if a change to an existing Project Plan, an amendment to an existing Project Plan. Within ninety (90) days of the Execution Date, the parties shall meet to discuss potential
projects and define Project Plans. The parties agree that no work shall commence on a Project until an agreement for such Project is executed by both parties. The costs for the project and the payment schedule therefor shall be based on
BioAtla’s good faith estimate of activities reasonably required to perform such generation, identification and/or development, including BioAtla’s internal costs for those activities based on an annual FTE rate equal to [***]% of the
lesser of (A) BioAtla’s then-effective internal fully-burdened annual FTE rate used throughout its internal project accounting system and (B) the lowest annual FTE rate then being charged by BioAtla to any Third Party for the
generation, identification and/or development of BioAtla CAB Biologics, and any direct outsourced Third Party costs; it being understood and agreed that, if the total costs for the project incurred by BioAtla in any calendar year exceed the total
costs budgeted for such project under the applicable Project Plan for such calendar year by more than [***] percent ([***]%), then Company will pay for up to [***] percent ([***]%) in excess of the total costs budgeted for such project under
the applicable Project Plan and BioAtla shall be responsible for paying any remaining costs. Direct outsourced Third Party costs will be billed at cost without markup. BioAtla shall use commercially reasonable efforts to generate, identify and/or
develop (as applicable) CAB Biologics under each Project Plan, and to deliver the CAB Biologics within the timeline and budget set forth in such Project Plan. 
  

 
 [***] Certain information in this
document identified by brackets has been omitted because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed. 

  
 11. 

 3.3 Materials Transfer. In furtherance of the activities contemplated by this
Article 3 or the transfer of BioAtla Licensed Know-How contemplated hereunder, each party may provide to the other party chemical compounds or biological materials, including, in the case of BioAtla as
the supplying party, but not limited to, BioAtla CAB Biologics (collectively, the “Materials”), for use by the other party in accordance with this Agreement. Except as otherwise expressly provided
under this Agreement, all such Materials delivered to the other party will remain the sole property of the supplying party, will be used only in accordance with the terms and conditions of this Agreement, will not be used or delivered to or for the
benefit of any Third Party without the prior written consent of the supplying party, and will be used in compliance with all Applicable Laws. The Materials supplied under this Agreement must be used with prudence and appropriate caution in any
experimental work because not all of their characteristics may be known. Except as expressly set forth in this Agreement, THE MATERIALS ARE PROVIDED “AS IS” AND WITHOUT ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, INCLUDING WITHOUT
LIMITATION ANY IMPLIED WARRANTY OF MERCHANTABILITY OR OF FITNESS FOR ANY PARTICULAR PURPOSE OR ANY WARRANTY THAT THE USE OF THE MATERIALS WILL NOT INFRINGE OR VIOLATE ANY PATENT OR OTHER PROPRIETARY RIGHTS OF ANY THIRD PARTY. 

3.4 Company shall be solely and fully responsible for all development and commercialization activities and costs of the CAB Biologics in
the Field delivered by BioAtla hereunder, and/or discovered by the Company for its use in the Field hereunder. 
  

	4.	 PAYMENTS. 

4.1 Compensation for Development Work. BioAtla shall deliver written invoices to the Company, and the Company shall compensate BioAtla,
for the development work under each timeline and budget accepted by the Company hereunder and for delivery of the resulting BioAtla CAB Biologics on the schedule and in the amounts set forth in such timeline and budget. Any proposed adjustments
exceeding the accepted timeline and/or budget shall be approved in advance, in writing, by the parties. Each such invoice shall be due and payable within 30 days of receipt. 

4.2 Royalties. Company shall pay royalties to BioAtla on aggregate annual Net Sales of each Product in the Territory by the
Company, its Affiliates and Licensees in each calendar year at the applicable rate(s) set forth below: 
  

					
	 	 	 Annual Net Sales Increments
	  	 Royalty

Rate

		 	[***]	  	[***]

  
  

[***] Certain information in this document identified by brackets has been omitted because it is both (i) not material and (ii) would be
competitively harmful if publicly disclosed. 

  
 12. 

 4.3 Royalty Term. Royalties hereunder shall be payable on a Product-by-Product and country-by-country basis in the Territory during the period of time
commencing on the First Commercial Sale of a Product in a country of the Territory and ending upon expiration of the later to occur of (a) the last-to-expire Valid
Claim of the BioAtla Licensed Patents and Company Licensed Patents covering the manufacture, use, sale, offer for sale or import of such Product in such country, (b) the tenth (10th)
anniversary following the First Commercial Sale in such country and (c) the expiration of Regulatory Exclusivity for such Product in such country (the “Royalty Term”). On a Product-by-Product and country-by-country basis, upon expiration of the Royalty Term for a
Product in a country of Territory, the Company’s license hereunder with respect to such Product in such country shall become fully-paid, irrevocable and perpetual. 

4.4 Payment; Reports. Royalties hereunder shall be calculated and reported for each calendar quarter and shall be paid within
60 days after the end of each calendar quarter. Each payment shall be accompanied by a report of Net Sales of Products by the Company, its Affiliates and Licensees, which report shall include the gross sales and Net Sales of each Product, the
royalties payable, a description of the method used to calculate the royalties payable, and the exchange rates used, in each case presented on an Product-by-Product and country-by-country basis. 
 4.5 Exchange Rate; Manner and Place
of Payment. All payments under this Article 4 shall be payable in U.S. dollars by wire transfer in immediately available funds to a bank and account designated in writing by BioAtla. When conversion of payments from any foreign currency is
required, such conversion shall be made at the rate of exchange used throughout the accounting system of the Company and its Affiliates for the applicable period. 

4.6 Audits. The Company shall keep (and shall cause its Affiliates and Licensees to keep) complete and accurate records pertaining to
the sale or other disposition of Products in sufficient detail to permit BioAtla to confirm the accuracy of all royalty payments due hereunder for a period of three years from the end of the calendar year to which such records relate. BioAtla shall
have the right, once annually, to cause an independent, certified public accountant reasonably acceptable to the Company (the “Auditor”) to audit such records solely to confirm Net Sales and
royalties for a period covering not more than the preceding three years. Such audits may be exercised during normal business hours upon reasonable prior written notice to the Company. No calendar year shall be subject to audit under this section
more than once. The Auditor will execute a reasonable written confidentiality agreement with the Company and will disclose to BioAtla only such information as is reasonably necessary to provide BioAtla with information regarding any actual or
potential discrepancies between amounts reported and actually paid and amounts payable under this Agreement. The Auditor will send a copy of the report to the Company at the same time it is sent to BioAtla. The report sent to both parties will
include the methodology and calculations used to determine the results. Prompt adjustments shall be made by the parties to reflect the results of such audit. BioAtla shall bear the full cost of such audit unless such audit discloses an underpayment
by the Company of more than 5% of the amount due for any calendar year under this Agreement, in which case, the Company shall bear the full cost of such audit and shall promptly remit to BioAtla the amount of any underpayment. If such audit
discloses an overpayment by the Company, then the Company will deduct the amount of such overpayment from amounts otherwise owed to BioAtla under this Agreement. 

  
 13. 

 4.7 Withholding. BioAtla will pay any and all taxes levied on account of any payments
made to it under this Agreement. If any taxes are paid or required to be withheld by the Company for the benefit of BioAtla on account of any amounts payments payable to BioAtla hereunder, the Company will deduct such taxes from the amount of
payments otherwise due to BioAtla, timely pay the taxes to the proper taxing authority, and send proof of payment to BioAtla within 30 days following such payment. 

4.8 Late Payments. In the event that any payment due under Section 4.1 (other than any invoiced amount or portion thereof that is
subject to good faith dispute between the parties) is not made when due, the payment shall accrue interest from the date due at the rate of 1.0% per month; provided, however, that in no event shall such rate exceed the maximum legal annual
interest rate. The payment of such interest shall not limit BioAtla from exercising any other rights it may have as a consequence of the lateness of any payment. 
  

	5.	 CONFIDENTIALITY. 

5.1 Confidential Information. Except to the extent expressly authorized by this Agreement or otherwise agreed in writing by the parties,
each party agrees that, during the Term, and for five years thereafter, such party (the “Receiving Party”) shall keep confidential and shall not publish or otherwise disclose and shall not use for
any purpose other than as expressly provided for in this Agreement any Information furnished to it by the other party (the “Disclosing Party”) pursuant to this Agreement, the Confidentiality
Agreement (the “Confidential Information”). Notwithstanding the foregoing, the parties hereby agree that: (a) each timeline and budget set forth under any Project Plan shall be considered the
Confidential Information of both parties, and each party be deemed the Disclosing Party and the Receiving Party with respect thereto; (b) the terms of this Article 5 shall supersede the Confidentiality Agreement; and (c) any
Information disclosed by a party pursuant to the Confidentiality Agreement shall be deemed Confidential Information of such party for purposes of this Agreement. The Receiving Party may use Confidential Information only to the extent required to
accomplish the purposes of this Agreement. The Receiving Party will use at least the same standard of care as it uses to protect proprietary or Confidential Information of its own, but no less than reasonable care, to ensure that its employees,
agents, consultants and other representatives do not disclose or make any unauthorized use of the Confidential Information. The Receiving Party will promptly notify the Disclosing Party upon discovery of any unauthorized use or disclosure of the
Confidential Information. 
 5.2 Exceptions. Confidential Information shall not include any information which: (a) is now, or
hereafter becomes, through no act or failure to act on the part of the Receiving Party in breach of this Agreement, publicly known or available; (b) is known by the Receiving Party at the time of receiving such information (other than as a
result of disclosure by or on behalf of the Disclosing Party), as evidenced by its records; provided, however, that the exception set forth in this clause (b) shall not apply to results, or to any timeline and budget under any Project
Plan; (c) is hereafter furnished to the Receiving Party by a Third Party, as a matter of right and without restriction on disclosure; or (d) is independently discovered or developed by the Receiving Party

  
 14. 

 
outside of a Project Plan and without the use of Confidential Information of the Disclosing Party. For purposes of clause (a) of this Section, no combination of elements within the
Confidential Information shall be deemed to be part of the public domain merely because the individual elements of such combination are part of the public domain, unless the entire combination itself, or the entire principle of use or operation of
such combination (if any), is part of the public domain. In addition, no element within the Confidential Information shall be deemed to be a part of the public domain merely because it is embraced by more general information or data that is part of
the public domain. 
 5.3 Authorized Disclosure. A Receiving Party may disclose Confidential Information of the Disclosing Party as
expressly permitted by this Agreement (including as reasonably necessary for the Receiving Party’s performance of its obligations under this Agreement), or if and to the extent such disclosure is reasonably necessary in the following instances:

 (a) prosecuting or defending Litigation as permitted by this Agreement; 

(b) complying with requests of government agencies, applicable court orders, Applicable Laws, rules or regulations, or the listing rules
of any exchange on which the Receiving Party’s or its Affiliate’s securities are traded; 
 (c) enforcing the Receiving
Party’s rights under this Agreement; 
 (d) filing or prosecuting Patent Rights as permitted by this Agreement; 

(e) in the case of the Company, disclosure in regulatory submissions with respect to Products within the scope of the Exclusive
License; 
 (f) in the case of BioAtla, disclosure in regulatory submissions with respect to Products within the scope of the
Exclusive Non-CAST License; 
 (g) disclosure to the Receiving Party’s Affiliates, to the
Company’s actual or potential licensees or sublicensees of rights with respect to Products in the Field, to BioAtla’s actual or potential licensees or sublicensees of rights with respect to Products outside the Field, and to the Receiving
Party’s and its Affiliates’ representatives who, in each case, have a need to know such information in order for the Receiving Party to exercise its rights or fulfill its obligations under this Agreement, provided, in each case, that any
such Affiliate, actual or potential licensee or sublicensee, or representative agrees to be bound by terms of confidentiality and non-use at least as restrictive as those set forth in this Article; and 

(h) disclosure to Third Parties in connection with due diligence or similar investigations by such Third Parties, and disclosure to
potential Third Party investors in confidential financing documents, provided, in each case, that any such Third Party agrees to be bound by reasonable obligations of confidentiality and non-use. 

Notwithstanding the foregoing, in the event the Receiving Party is required to make a disclosure of the Disclosing Party’s Confidential
Information pursuant to this Section 5.3, it will, except where impracticable, (i) give reasonable advance notice to the Disclosing Party of such disclosure, (ii) use efforts to secure confidential treatment of such information at
least as diligent as the Receiving Party would use to protect its own Confidential Information, but in no event less than reasonable efforts, and (iii) cooperate with any efforts by the Disclosing Party, at the Disclosing Party’s request
and expense, to secure confidential treatment of such Confidential Information. 

  
 15. 

 5.4 Publication. 

(a) By the Company. 

(i) Subject to Section 5.4(a)(ii), BioAtla shall have the right to review and comment on any material proposed for disclosure or
publication by the Company regarding results of the Company’s development activities with respect to Products, whether by oral presentation, manuscript or abstract, but only to the extent (A) any such Product or the development,
manufacture, use, sale or offer for sale thereof is covered by or uses or incorporates any BioAtla Licensed Technology or (B) any such material contains any BioAtla Licensed Know-How. Before any such
material is submitted for publication or presentation of the same is made, the Company shall deliver a complete copy to BioAtla at least 60 days prior to submitting the material to a publisher or initiating any other disclosure. BioAtla shall
review any such material and give its comments to the Company within 30 days of the receipt of such material and Company shall accept BioAtla’s reasonable comments. With respect to oral presentation materials and abstracts, BioAtla shall
make reasonable efforts to expedite review of such materials and abstracts, and shall return such items as soon as practicable to the Company with appropriate comments, if any, but in no event later than 30 days from receipt. The Company shall
comply with BioAtla’s request to delete references to the Confidential Information of BioAtla in any such material and agrees to delay any submission for publication or other public disclosure for a period of up to an additional 60 days
for the purpose of allowing preparation and filing of appropriate patent applications. 
 (ii) Company and its Affiliates shall be
free to publish, and to authorize their respective sublicensees to publish, the results of any clinical trial of any Product conducted by or on behalf of the Company, its Affiliate or any such sublicensee, without the prior review or approval of
BioAtla. 
 (b) By BioAtla. 

(i) Subject to Section 5.4(b)(ii), the Company shall have the right to review and comment on any material proposed for disclosure
or publication by BioAtla regarding results of BioAtla’s development activities with respect to Products in the Field, whether by oral presentation, manuscript or abstract, but only to the extent (A) any such Product or the development,
manufacture, use, sale or offer for sale thereof is covered by or uses or incorporates any Company Licensed Technology or (B) any such material contains any Company Licensed Know-How. Before any such
material is submitted for publication or presentation of the same is made, BioAtla shall deliver a complete copy to the Company at least 60 days prior to submitting the material to a publisher or initiating any other disclosure. The Company
shall review any such material and give its comments to BioAtla within 30 days of the receipt of such material and BioAtla shall accept Company’s reasonable comments. With respect to oral presentation materials and abstracts, the Company
shall make reasonable efforts to expedite review of such materials and 

  
 16. 

 
abstracts, and shall return such items as soon as practicable to BioAtla with appropriate comments, if any, but in no event later than 30 days from receipt. BioAtla shall comply with the
Company’s request to delete references to the Confidential Information of the Company in any such material and agrees to delay any submission for publication or other public disclosure for a period of up to an additional 60 days for the
purpose of allowing preparation and filing of appropriate patent applications. 
 (ii) BioAtla and its Affiliates shall be free to
publish, and to authorize their respective sublicensees to publish, the results of any clinical trial of any Product in the Field conducted by or on behalf of BioAtla, its Affiliate or any such sublicensee, without the prior review or approval of
the Company. 
 5.5 Public Announcements. 

(a) Joint Press Release. The parties may issue a joint press release announcing the execution of this Agreement in a form to be mutually
agreed upon by the parties. 
 (b) Additional Press Releases. The parties acknowledge that, after the issuance of the initial joint
press release (if any), each party may desire or be required to issue subsequent press releases relating to this Agreement. The parties agree to consult with each other reasonably and in good faith with respect to the text and timing of subsequent
press releases prior to the issuance thereof, provided that a party may not withhold consent to such releases that the other party determines, based on advice of outside legal counsel, are necessary to comply with Applicable Law or the listing rules
of any exchange on which the other party’s or its Affiliate’s securities are traded. In the event of a required public announcement or any public disclosure (including, without limitation, disclosure in any filing with the U.S. Securities
and Exchange Commission) relating to this Agreement, the party required to make such announcement or proposing to make such public disclosure shall provide the other party with a copy of the proposed text of such announcement or disclosure
sufficiently in advance of the scheduled release or disclosure to afford such other party a reasonable opportunity to review and comment upon the proposed text, or at a minimum as far in advance of the scheduled release or disclosure as is
practicable under the circumstances, and such party shall comply with the other party’s reasonable and timely comments thereto. Each party may: (i) make public statements regarding this Agreement in response to questions by the press,
analysts, investors or those attending industry conferences or financial analyst calls, provided, in each case, that such party shall have consulted with the other party and the parties shall have mutually agreed to a written discussion guide or
“talking points” memo in advance, and the responding party shall provide responses that are consistent with such guide or memo; or (ii) make public statements regarding this Agreement in reports to shareholders or to any exchange on
which such party’s or its Affiliate’s securities are traded, or issue press releases; in each case, so long as the contents of any such public statement, report or press release are contained in a prior public disclosure or public
statement approved by the other party pursuant to this Section 5.4(b) or permitted by Section 5.3 and do not reveal non-public information about the other party. 

  
 17. 

 (c) Filing of this Agreement. The parties shall coordinate in advance with each other
in connection with the filing of this Agreement (including redaction of certain provisions of this Agreement) with any securities authority or with any stock exchange on which securities issued by a party or its Affiliate are traded, and each party
will use reasonable efforts to seek and obtain confidential treatment for the terms proposed to be redacted; provided that each party will ultimately retain control over what terms are disclosed to any securities authority or stock exchange, as the
case may be, to the extent such party determines, on the advice of outside legal counsel, that disclosure is reasonably necessary to comply with Applicable Laws, including disclosure requirements of the U.S. Securities and Exchange Commission, or
with the requirements of any stock exchange on which securities issued by a party or its Affiliates are traded; and provided further that the parties will use their reasonable efforts to file redacted versions with any governing bodies which are
consistent with redacted versions previously filed with any other governing bodies. 
  

	6.	 INTELLECTUAL PROPERTY. 

6.1 Ownership. Inventorship of inventions, whether or not patentable, shall be determined in accordance with U.S. patent laws. Each
party shall promptly disclose to the other party in writing each Invention made in whole or in part by such party, and the parties, with the advice of each party’s outside patent counsel, use commercially reasonable efforts and exercise good
faith to determine the inventorship of each such Invention for purposes of U.S. patent laws. The Company shall solely own all Company Inventions. BioAtla shall solely own all BioAtla Inventions. The parties shall jointly own all Joint Inventions and
Joint Patents. Subject to the Exclusive License, the Exclusive Non-CAST License and the terms and conditions of this Agreement, each party shall have the right to use, and grant licenses under its joint
ownership interest in, Joint Technology, without the other party’s consent and without any duty to account to the other party for such use or license, and each party hereby waives any right it may have under the laws of any country to require
any such consent or accounting. 
 6.2 Patent Prosecution and Maintenance. For purposes of this Section 6.2, the terms
“prosecution” and “maintenance” (including variations such as “prosecute” and “maintain”) shall mean, with respect to a Patent Right, the preparing, filing, prosecution, maintenance and defense of such Patent
Right, in the applicable jurisdiction, as well as re-examinations, reissues and requests for patent term extensions and the like with respect to such Patent Right, together with the conduct of interferences,
the defense of oppositions and other similar proceedings with respect to a Patent Right. 
 (a) BioAtla Licensed Patents. BioAtla
shall have the sole right, but not the obligation, to prosecute and maintain the BioAtla Licensed Patents, at its sole cost and expense. 

(b) Company Licensed Patents. The Company shall have the sole right, but not the obligation, to prosecute and maintain the Company
Licensed Patents, at its sole cost and expense. 
 (c) Joint Patents. BioAtla will have the first right and responsibility to prepare,
file, prosecute and maintain Joint Patents claiming a Joint Invention. BioAtla shall use counsel reasonably acceptable to the other party, and, unless otherwise agreed by the parties in writing, the parties shall share equally the reasonable and
documented expenses of preparing, filing, prosecuting and maintaining such Joint Patents. BioAtla shall consult with Company as to the preparation, filing, prosecution and maintenance of the Joint Patents reasonably prior to any

  
 18. 

 
deadline or action with any patent office, and shall furnish to the other party copies of all relevant drafts and documents reasonably in advance of such consultation. BioAtla shall keep Company
reasonably informed of progress with regard to the preparation, filing, prosecution and maintenance of such Joint Patents, and shall provide to Company copies of all material patent office submissions within a reasonable amount of time following
submission thereof by BioAtla. In the event that BioAtla desires to abandon or cease prosecution or maintenance of any such Joint Patent, BioAtla shall provide written notice to Company of such intention to abandon promptly after BioAtla makes such
determination (which notice shall be given no later than 90 days (or for Hatch-Waxman actions, or the equivalent thereof, 30 days) prior to the next deadline for any action that must be taken with respect to such Joint Patent in the
relevant patent office). In such case, Company shall have the right, in its discretion, exercisable upon written notice to the first party delivered no later than 30 days after receipt of notice from BioAtla, to assume responsibility for
prosecution and maintenance of such Joint Patent, at its sole cost and expense and by counsel of its own choice. 
 6.3 Cooperation of the
Parties. Each party agrees to cooperate fully in the prosecution and maintenance of Patent Rights under Section 6.2 and in the obtaining and maintenance of any patent extensions, supplementary protection certificates and the like with
respect thereto. Such cooperation includes, but is not limited to: (a) executing all papers and instruments, or requiring its employees or contractors to execute such papers and instruments, so as to effectuate the joint ownership of Joint
Inventions and Joint Patents set forth in Section 6.1, and to enable the other party to apply for and to prosecute patent applications in any country as permitted by Section 6.2; and (b) promptly informing the other party of any
matters coming to such party’s attention that may affect the preparation, filing, prosecution or maintenance of any such patent applications. 

6.4 Infringement by Third Parties. 

(a) Notice. In the event that either BioAtla or the Company becomes aware of any infringement or threatened infringement by a Third
Party of any BioAtla Licensed Patent, Company Licensed Patent or Joint Patent, it shall notify the other party in writing to that effect. 

(b) Enforcement. 
 (i)
BioAtla Licensed Patents. BioAtla shall have the sole right to bring and enforce any action or proceeding with respect to infringement of any BioAtla Licensed Patent, at BioAtla’s sole cost and expense. 

(ii) Company Licensed Patents. The Company shall have the sole right to bring and enforce any action or proceeding with respect to
infringement of any Company Licensed Patent, at the Company’s sole cost and expense. 
 (iii) Joint Patents. BioAtla shall have
the sole right to bring any action or proceeding with respect to infringement of any Joint Patent by a Third Party. Any damages or other monetary awards recovered in any action, suit or proceeding brought under this Section 6.4 shall first be
applied to reimburse BioAtla for all of the costs and expenses it incurred in connection with such action, and any remaining proceeds shall be shared as follows: BioAtla shall retain [***] and Company shall retain [***] of such amount. 

 
  

[***] Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be competitively
harmful if publicly disclosed. 

  
 19. 

 (c) Cooperation. The party enforcing Patent Rights under this Section 6.4 may
require the participation of the other party where necessary to bring any suit. Such other party shall provide reasonable assistance, including being joined as a party plaintiff if necessary, at the enforcing party’s expense. 

6.5 Infringement of Third Party Rights. Each party shall promptly notify the other party in writing of any allegation by a Third Party
that the activity of either party or any of their respective Affiliates pursuant to this Agreement infringes or may infringe the intellectual property rights of a Third Party. BioAtla shall have the sole right to control any defense of any such
claim involving alleged infringement of Third Party rights by activities of BioAtla or its Affiliates at its own expense and by counsel of its own choice, and the Company shall have the right, at its own expense, to be represented in any such action
by counsel of its own choice. The Company shall have the sole right to control any defense of any such claim involving alleged infringement of Third Party rights by activities of the Company or its Affiliates at its own expense and by counsel of its
own choice, and BioAtla shall have the right, at its own expense, to be represented in any such action by counsel of its own choice. 

6.6 Consent to Settlement. Neither party shall enter into any settlement or compromise of any action or proceeding under this
Article 6 which would in any manner alter, diminish, or be in derogation of the other party’s rights under this Agreement without the prior written consent of the other party, which shall not be unreasonably withheld. 

 

	7.	 REPRESENTATIONS AND WARRANTIES; DISCLAIMER;
LIMITATION OF LIABILITY. 

 7.1 Mutual Representations and
Warranties. Each party represents and warrants to the other as of the Execution Date that: 
 (a) it is duly organized and validly
existing under the laws of its jurisdiction of incorporation or formation, and has full corporate or other power and authority to enter into this Agreement and to carry out the provisions hereof; 

(b) it is duly authorized to execute and deliver this Agreement and to perform its obligations hereunder, and the person or persons
executing this Agreement on its behalf has been duly authorized to do so by all requisite corporate or partnership action; 
 (c) this
Agreement is legally binding upon it, enforceable in accordance with its terms, and does not conflict with any agreement, instrument or understanding, oral or written, to which it is a party or by which it may be bound (including, with respect to
BioAtla, any agreement between BioAtla or any of its Affiliates), nor violate any material law or regulation of any court, governmental body or administrative or other agency having jurisdiction over it; and 

  
 20. 

 (d) neither it nor any of its Affiliates is debarred from the drug industry by any
regulatory authority (e.g., by the FDA pursuant to 21 U.S.C. §335a), and it has not received written notice or other communication from any regulatory authority threatening debarment of such party or any of its Affiliates. 

7.2 BioAtla Representations and Warranties. BioAtla represents and warrants to the Company as of the Execution Date that: 

(a) BioAtla has not granted to any of its Affiliates or any Third Party any license or other right with respect to CAB Biologics or the
BioAtla Licensed Technology that conflicts with the Exclusive License and rights granted to the Company herein, other than any such license or right that terminated prior to the Execution Date and is of no further force or effect; 

(b) BioAtla is not a party to, and is not otherwise bound by or subject to, any agreement with any of its Affiliates or any Third Party
that restricts or encumbers in any way BioAtla’s right and ability (i) to grant the Exclusive License on the terms and conditions set forth in this Agreement or (ii) to comply with any of BioAtla’s obligations hereunder; 

(c) it has not received written notice from any Third Party claiming that the manufacture, use, sale, offer for sale or import of CAB
Biologics infringes or would infringe the patent or other intellectual property rights of any Third Party; and 
 (d) there are no
claims, judgments or settlements against or owed by BioAtla or any of its Affiliates with respect to the BioAtla Licensed Technology, and neither BioAtla nor any of its Affiliates is a party to any legal action, suit or proceeding relating to the
BioAtla Licensed Technology, nor has BioAtla or any of its Affiliates received any written communication from any Third Party threatening such action, suit or proceeding. 

7.3 Mutual Covenants. Each party covenants to the other party as follows: 

(a) neither such party nor any of its Affiliates will employ or use the services of any Person that has been disqualified by a
regulatory authority from conducting clinical testing of new drugs (e.g., by the FDA pursuant to 21 C.F.R. Part 312.70) or debarred by a regulatory authority from the drug industry (e.g., by the FDA pursuant to 21 U.S.C.
§335a), in connection with any development activities within the scope of this Agreement; and if a party becomes aware of the debarment or disqualification or threatened debarment or disqualification of any Person providing services to such
party or any of its Affiliates in connection with any development activities within the scope of this Agreement, such party shall immediately notify the other party in writing, and such party shall cease, or cause its Affiliate to cease (as
applicable), employing, contracting with, or retaining any such Person to perform any services in connection with such development activities; 

(b) neither such party nor any of its Affiliates will, in connection with the exercise of its rights or performance of its obligations
under this Agreement, directly or indirectly through Third Parties, pay, promise or offer to pay, or authorize the payment of, any money or give any promise or offer to give, or authorize the giving of anything of value to a public official or
entity for the purpose of obtaining or retaining business for or with, or directing business to, any Person, including such party and its Affiliates, nor will such party or any of its Affiliates directly

  
 21. 

 
or indirectly promise, offer or provide any corrupt payment, gratuity, emolument, bribe, kickback, illicit gift or hospitality or other illegal or unethical benefit to a public official or entity
or other Person or otherwise violate any Anti-Corruption Laws in connection with the exercise of such party’s rights or performance of such party’s obligations under this Agreement; 

(c) neither such party nor any of its Affiliates (or any of their respective employees and contractors), in connection with the exercise
of such party’s rights or performance of such party’s obligations under this Agreement, shall cause the other party to be in violation of Anti-Corruption Laws or Export Control Laws; and 

(d) such party shall immediately notify the other party if such party has any information or suspicion that there may be a violation of
Anti-Corruption Laws or Export Control Laws in connection with the exercise of such party’s rights or performance of such party’s obligations under this Agreement. 

7.4 BioAtla Covenants. In addition to any covenants made by BioAtla elsewhere in this Agreement, BioAtla hereby covenants to the Company
that, during the Term: 
 (a) BioAtla will not grant any of its Affiliates or any Third Party any license or other right with respect
to any BioAtla Licensed Technology that conflicts with the Exclusive License and rights granted to the Company herein; and 
 (b)
BioAtla will not become a party to, or otherwise become bound by or subject to, any agreement with any of its Affiliates or any Third Party that restricts or encumbers in any way BioAtla’s right and ability to comply with any of
BioAtla’s obligations hereuunder. 
 7.5 Company Covenants. In addition to any covenants made by the Company elsewhere in this
Agreement, the Company hereby covenants to BioAtla that, during the Term: 
 (a) the Company will not grant any of its Affiliates or
any Third Party any license or other right with respect to any Company Licensed Technology that conflicts with the Exclusive Non-CAST License and rights granted to BioAtla herein; and 

(b) the Company will not become a party to, or otherwise become bound by or subject to, any agreement with any of its Affiliates or any
Third Party that restricts or encumbers in any way the Company’s right and ability to comply with any of the Company’s obligations hereunder. 

7.6 Disclaimer. Except as expressly set forth in this Agreement, EACH PARTY EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES OF ANY KIND,
EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, THE WARRANTIES OF DESIGN, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, VALIDITY OF PATENTS, NON-INFRINGEMENT OF THE INTELLECTUAL PROPERTY RIGHTS OF
THIRD PARTIES, OR ARISING FROM A COURSE OF DEALING, USAGE OR TRADE PRACTICES; IN EACH CASE, ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE SUBLICENSE AGREEMENTS. 

	

	

	

	

	

	

	

	

	

	

	

  

  
 22. 

 7.7 Limitation of Liability. EXCEPT FOR LIABILITY FOR BREACH OF ARTICLE 5,
NEITHER PARTY SHALL BE ENTITLED TO RECOVER FROM THE OTHER PARTY ANY SPECIAL, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES IN CONNECTION WITH THIS AGREEMENT OR ANY LICENSE GRANTED HEREUNDER; provided, however, that this Section shall not be
construed to limit either party’s indemnification obligations hereunder. 
  

	8.	 TERM AND TERMINATION. 

8.1 Term. The term of this Agreement (the “Term”) shall begin on the Execution Date
and, unless earlier terminated in accordance with this Article 8, shall continue in existence for so long as the Company or any of its Affiliates, licensees or sublicensees is developing or commercializing any Product in the Field or BioAtla or any
of its Affiliates, licensees or sublicensees is developing or commercializing any Product outside the Field. 
 8.2 Termination. This
Agreement may be terminated by BioAtla upon thirty (30) days prior written notice to Company for any failure by Company to pay any amounts owed to BioAtla under this Agreement which in the aggregate exceed [***] and have been outstanding for
more than [***] days. 
 8.3 Consequences of Termination and Expiration; Accrued Obligations; Survival. 

(a) Upon termination of this Agreement in accordance with Section 8.2(a), the Exclusive License shall terminate and the Exclusive Non-CAST License shall survive on a non-exclusive, fully paid, royalty free, irrevocable, perpetual basis. 

(b) Upon expiration of this Agreement in accordance with Section 8.1, the Exclusive License and Exclusive Non-CAST License shall survive on a non-exclusive, fully-paid, royalty-free, irrevocable,
perpetual basis. Expiration or termination of this Agreement shall not relieve either party of any obligation or liability accruing prior to such expiration or termination, nor shall such expiration preclude either party from pursuing all rights and
remedies it may have under this Agreement, at law or in equity, with respect to breach of this Agreement. In addition, the parties’ rights and obligations under Sections 2.2, 2.3 (other than Section 2.3(a)), 4.4, 4.5, 4.6, 4.7, 4.8, 7.6,
7.7 and 8.3 and Articles 5, 11, 12 and 13 of this Agreement shall survive expiration of this Agreement. 
  

	9.	 INDEMNIFICATION. 

9.1 Indemnification by the Company. The Company hereby agrees to save, defend, indemnify and hold harmless BioAtla, its Affiliates, its
and their respective officers, directors, agents, employees, successors and assigns (the “BioAtla Indemnitees”), from and against any and all losses, damages, liabilities, expenses and costs,
including reasonable legal expense and attorneys’ fees (“Losses”), to which any BioAtla Indemnitee may become subject as a result of 

 
  

[***] Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be competitively
harmful if publicly disclosed. 

  
 23. 

 
any claim, demand, action or other proceeding by any Third Party (each, a “Claim”) to the extent such Losses arise out of or relate to: (a) the development,
manufacture, use, handling, storage, sale, offer for sale, import or other disposition by or on behalf of the Company, its Affiliates, licensees or sublicensees of Products, or any other exercise of the Exclusive License by or on behalf of the
Company, its Affiliates or sublicensees; (b) the gross negligence or willful misconduct of any Company Indemnitee (defined below); or (c) the breach by the Company of any warranty, representation, covenant or agreement made by the Company
in this Agreement; except, in each case, to the extent such Losses result from the gross negligence or willful misconduct of any BioAtla Indemnitee or the breach by BioAtla of any warranty, representation, covenant or agreement made by BioAtla in
this Agreement. 
 9.2 Indemnification by BioAtla. BioAtla hereby agrees to save, defend, indemnify and hold harmless the Company, its
Affiliates and their respective officers, directors, employees, consultants and agents (the “Company Indemnitees”) from and against any and all Losses to which any Company Indemnitee may become
subject as a result of any Claim to the extent such Losses arise out of or relate to: (a) the development, manufacture, use, handling, storage, sale, offer for sale, import or other disposition by or on behalf of BioAtla, its Affiliates,
licensees or sublicensees of Products outside the Field, involving the exercise of the Exclusive Non-CAST License by or on behalf of BioAtla, its Affiliates, licensees or sublicensees; (b) the gross
negligence or willful misconduct of any BioAtla Indemnitee; or (c) the breach by BioAtla of any warranty, representation, covenant or agreement made by BioAtla in this Agreement; in each case except to the extent such Losses result from the
gross negligence or willful misconduct of any Company Indemnitee or the breach by the Company of any warranty, representation, covenant or agreement made by the Company in this Agreement. 

9.3 Control of Defense. In the event a party (the “Indemnified Party”) seeks
indemnification under Section 9.1 or 9.2, it shall inform the other party (the “Indemnifying Party”) of a claim as soon as reasonably practicable after it receives notice of the claim (it
being understood and agreed, however, that the failure by an Indemnified Party to give notice of a claim as provided in this Section 9.3 shall not relieve the Indemnifying Party of its indemnification obligation under this Agreement except and
only to the extent that such Indemnifying Party is actually damaged as a result of such failure to give notice), shall permit the Indemnifying Party to assume direction and control of the defense of the claim (provided that such claim is solely for
monetary damages and the Indemnifying Party agrees to pay all damages relating to such matter, as evidenced in a written confirmation delivered by the Indemnifying Party to the Indemnified Party) using counsel reasonably satisfactory to the
Indemnified Party, and shall cooperate as requested (at the expense of the Indemnifying Party) in the defense of the claim. If the Indemnifying Party does not assume control of such defense within 15 days after receiving notice of the claim
from the Indemnified Party, the Indemnified Party shall control such defense and, without limiting the Indemnifying Party’s indemnification obligations, the Indemnifying Party shall reimburse the Indemnified Party for all costs, including
reasonable attorney fees, incurred by the Indemnified Party in defending itself within 30 days after receipt of any invoice therefor from the Indemnified Party. The party not controlling such defense may participate therein at its own expense.
The party controlling such defense shall keep the other party advised of the status of such action, suit, proceeding or claim and the defense thereof and shall consider recommendations made by the other party with respect thereto. The Indemnified
Party shall not agree to any settlement of such action, suit, proceeding or claim without the prior written consent of the 

  
 24. 

 
Indemnifying Party, which shall not be unreasonably withheld, delayed or conditioned. The Indemnifying Party shall not agree to any settlement of such action, suit, proceeding or claim or consent
to any judgment in respect thereof that does not include a complete and unconditional release of the Indemnified Party from all liability with respect thereto, that imposes any liability or obligation on the Indemnified Party or that acknowledges
fault by the Indemnified Party without the prior written consent of the Indemnified Party. If the parties cannot agree as to the application of Section 9.1 or 9.2 to any claim, pending resolution of the Dispute pursuant to Article 10, the
parties may conduct separate defenses of such claims, with each party retaining the right to claim indemnification from the other party in accordance with Section 9.1 or 9.2, as applicable, upon resolution of the underlying claim. 

9.4 Insurance. Each party shall procure and maintain insurance, including comprehensive or commercial general liability insurance
(including contractual liability and product liability), adequate to cover its obligations hereunder and which is consistent with normal business practices of prudent companies similarly situated. It is understood that such insurance shall not be
construed to create a limit of either party’s liability with respect to its indemnification obligations under this Article 9 or otherwise. Each party shall provide the other party with written evidence of such insurance upon request. 

 

	10.	 DISPUTE RESOLUTION. 

10.1 Disputes. Subject to Section 10.3, any claim, dispute, or controversy as to the breach, enforcement, interpretation or
validity of this Agreement (each, a “Dispute”) will be referred to the Chief Executive Officer of the Company and the Chief Executive Officer of BioAtla (the
“Executives”) for attempted resolution. In the event such Executives are unable to resolve such Dispute within 30 days of such Dispute being referred to them, then, either Party may, at its
sole discretion, seek resolution of such matter in accordance with Section 10.2. 
 10.2 Submission to Court for Resolution.
Subject to Section 10.1, the Parties hereby irrevocably and unconditionally consent to the exclusive jurisdiction of the courts located in the Southern District of California for any action, suit or proceeding (other than appeals therefrom)
arising out of or relating to this Agreement, and agree not to commence any action, suit or proceeding (other than appeals therefrom) related thereto except in such courts. The Parties further hereby irrevocably and unconditionally waive any
objection to the laying of venue of any action, suit or proceeding (other than appeals therefrom) arising out of or relating to this Agreement in the courts of California, and hereby further irrevocably and unconditionally waive and agree not to
plead or claim in any such court that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum. Each Party further agrees that service of any process, summons, notice or document by registered mail to
its address set forth in Section 11.9 shall be effective service of process for any action, suit or proceeding brought against it under this Agreement in any such court. Notwithstanding anything to the contrary in this Section 10.2, each
Party shall have the right to institute judicial proceedings against the other Party or anyone acting by, through or under such other Party, in any court of competent jurisdiction, in order to enforce the instituting Party’s rights hereunder
through reformation of contract, specific performance, injunction or similar equitable relief. 

  
 25. 

 10.3 Court Actions. Nothing contained in this Agreement shall deny either party the
right to seek injunctive or other equitable relief from a court of competent jurisdiction in the context of a bona fide emergency or prospective irreparable harm, and such an action may be filed and maintained notwithstanding any ongoing
discussions between the parties or any ongoing arbitration proceeding. In addition, either party may bring an action in any court of competent jurisdiction to resolve Disputes pertaining to the validity, construction, scope, enforceability,
infringement or other violations of Patent Rights or other intellectual property rights, and no such claim shall be subject to arbitration pursuant to Section 10.2. 
  

	11.	 MISCELLANEOUS. 

11.1 Rights Upon Bankruptcy. All rights and licenses granted under or pursuant to this Agreement are, and shall otherwise be deemed to
be, for purposes of Section 365(n) of Title 11 of the United States Code and other similar laws in any jurisdiction outside the US (collectively, the “Bankruptcy Laws”), licenses of rights to be “intellectual
property” as defined under the Bankruptcy Laws. If a case is commenced during the Term by or against a party under Bankruptcy Laws then, unless and until this Agreement is rejected as provided in such Bankruptcy Laws, such party (in any
capacity, including debtor-in-possession) and its successors and assigns (including a trustee) shall perform all of the obligations provided in this Agreement to be
performed by such party. If a case is commenced during the Term by or against a party under the Bankruptcy Laws, this Agreement is rejected as provided in the Bankruptcy Laws and the other party elects to retain its rights hereunder as provided in
the Bankruptcy Laws, then the party subject to such case under the Bankruptcy Laws (in any capacity, including debtor-in-possession) and its successors and assigns
(including a Title 11 trustee), shall provide to the other party copies of all Information necessary for such other party to prosecute, maintain and enjoy its rights under the terms of this Agreement promptly upon such other party’s
written request therefor. All rights, powers and remedies of the non-bankrupt party as 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 Laws) in the event of the commencement of a case by or against a party under the Bankruptcy Laws. 

11.2 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of California, USA,
excluding its conflicts of laws principles. 
 11.3 Entire Agreement; Amendments. This Agreement (including the Exhibits hereto), is
both a final expression of the parties’ agreement and a complete and exclusive statement with respect to all of its terms. This Agreement supersedes all prior and contemporaneous agreements and communications, whether oral, written or
otherwise, concerning any and all matters contained herein between the Company and BioAtla. The Exhibits to this Agreement are incorporated herein by reference and shall be deemed a part of this Agreement. This Agreement may be amended, or any term
hereof modified, only by a written instrument duly executed by authorized representatives of both parties hereto. 
 11.4 Non-Waiver. The failure of a party to insist upon strict performance of any provision of this Agreement or to exercise any right arising out of this Agreement shall neither impair that provision or right nor
constitute a waiver of that provision or right, in whole or in part, in that instance or in any other instance. Any waiver by a party of a particular provision or right shall be in writing, shall be as to a particular matter and, if applicable, for
a particular period of time and shall be signed by such party. 

  
 26. 

 11.5 Assignment. Except as expressly provided hereunder, neither this Agreement nor
any rights or obligations hereunder may be assigned or otherwise transferred by either party without the prior written consent of the other party; it being understood and agreed that, either Party may assign this Agreement to an Affiliate, provided
that the assigning party shall remain liable and responsible to the non-assigning party hereto for the performance and observance of all such duties and obligations by such Affiliate. 

The rights and obligations of the parties under this Agreement shall be binding upon and inure to the benefit of the successors and permitted
assigns of the parties, and the name of a party appearing herein will be deemed to include the name of such party’s successors and permitted assigns to the extent necessary to carry out the intent of this section. Any assignment not in
accordance with this Agreement shall be void. 
 11.6 Change of Control. Notwithstanding anything to the contrary in this Agreement,
with respect to any intellectual property rights controlled by the acquiring party or its Affiliates (if other than one of the Parties to this Agreement or any Affiliate of a Party immediately before such Change of Control) involved in any Change of
Control of either Party, such intellectual property rights shall not be included in the technology and intellectual property rights licensed to the other Party hereunder to the extent held by such acquirer or its Affiliates (other than the relevant
Party to this Agreement or any Affiliate of a Party immediately before such Change of Control) prior to such transaction, or to the extent such technology is developed outside the scope of activities conducted with respect to any Product. The
BioAtla Licensed Technology and the Company Licensed Technology shall exclude any intellectual property owned or controlled by a permitted assignee or successor and not developed in connection with any Product developed, manufactured or
commercialized pursuant to this Agreement. 
 11.7 Force Majeure. Each party shall be excused from liability for the failure or delay
in performance of any obligation under this Agreement by reason of any event beyond such party’s reasonable control, including but not limited to acts of God, fire, flood, explosion, earthquake, or other natural forces, war, civil unrest, acts
of terrorism, accident, destruction or other casualty, any lack or failure of transportation facilities, any lack or failure of supply of raw materials, any strike or labor disturbance, or any other event similar to those enumerated above. Such
excuse from liability shall be effective only to the extent and duration of the event(s) causing the failure or delay in performance and provided that the party has not caused such event(s) to occur. The affected party shall notify the other party
of such force majeure circumstances as soon as reasonably practical, and shall promptly undertake all reasonable efforts necessary to cure such force majeure circumstances. 

11.8 Severability. If any one or more of the provisions contained in this Agreement is held invalid, illegal or unenforceable in any
respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby, unless the absence of the invalidated provision(s) adversely affects the substantive rights of the
parties. The parties shall in such an instance use their best efforts to replace the invalid, illegal or unenforceable provision(s) with valid, legal and enforceable provision(s) which, insofar as practical, implement the purposes of this Agreement.

  
 27. 

 11.9 Notices. Any notice to be given under this Agreement must be in writing and
delivered either in person, by any method of mail (postage prepaid), or by internationally-recognized express courier or facsimile, to the party to be notified at its address(es) given below, or at any address such party has previously designated by
prior written notice to the other. Notice shall be deemed sufficiently given for all purposes upon the earliest of: (a) the date of actual receipt; (b) if mailed, three (3) days after the date of postmark; (c) if delivered by
express courier, the next Business Day the express courier regularly makes deliveries; (d) if delivered by email, upon the date upon which the receipt of such email is confirmed by return email or other written or electronic confirmation; or
(e) if delivered by facsimile, upon confirmation of successful transmission. 
  

			
	If to the Company, to:	 	Inversagen LLC
		 	11085 Torreyana Road
		 	San Diego, CA 92121
		 	Attention: Managing Member
		 	Email: cshort@inversagen.com
		
	If to BioAtla, to:	 	BioAtla, LLC
		 	11085 Torreyana Road
		 	San Diego, CA 92121
		 	Attention: Vice President of IP & Contracts
		 	Email: msullivan@bioatla.com
		 	Facsimile: (858) 558-0701

 11.10 Relationship between the Parties. The parties’ relationship, as established by this
Agreement, is solely that of independent contractors. This Agreement does not create any partnership, joint venture or similar business relationship between the parties. Neither party is a legal representative of the other party, and neither party
may assume or create any obligation, representation, warranty or guarantee, express or implied, on behalf of the other party for any purpose whatsoever. 

11.11 No Third Party Rights. The provisions of this Agreement are for the exclusive benefit of the parties, and no other person or
entity shall have any right or claim against either party by reason of these provisions or be entitled to enforce any of these provisions against either party. 

11.12 Interpretation. The headings of clauses contained in this Agreement preceding the text of the sections, subsections and paragraphs
hereof are inserted solely for convenience and ease of reference only and shall not constitute any part of this Agreement, or have any effect on its interpretation or construction. All references in this Agreement to the singular shall include the
plural where applicable. The term “including” or “includes” as used in this Agreement means including, without limiting the generality of any description preceding such term, and the word “or” has the inclusive meaning
represented by the phrase “and/or.” Unless otherwise specified, references in this Agreement to any section shall include all subsections and paragraphs in such Section and references in this Agreement to any subsection shall include all
paragraphs in such 

  
 28. 

 
subsection. All references to days in this Agreement shall mean calendar days, unless otherwise specified. Ambiguities and uncertainties in this Agreement, if any, shall not be interpreted
against either party, irrespective of which party may be deemed to have caused the ambiguity or uncertainty to exist. This Agreement has been prepared in the English language, and the English language shall control its interpretation. In addition,
all notices required or permitted to be given hereunder, and all written, electronic, oral or other communications between the parties regarding this Agreement shall be in the English language. In the event of any inconsistency or conflict between
the English version of this Agreement and any translation of this Agreement into any other language, the English version shall control. 

11.13 Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original document, and all of
which, together with this writing, shall be deemed one instrument. This Agreement may be executed by facsimile or PDF signatures, which signatures shall have the same force and effect as original signatures. 

[Signature page follows.] 

  
 29. 

 IN WITNESS WHEREOF, the parties have
duly executed this Exclusive License Agreement as of the Execution Date. 
  

									
	INVERSAGEN LLC	 		  	BIOATLA, LLC
					
	By:	 	 /s/ Carolyn Short
	 		  	By:	  	 /s/ Monica Sullivan

			
	 Name: Carolyn Short
  

Title: Managing Member
	 		  	 Name: Monica Sullivan
  

Title: Vice President of IP & Contracts

  
 30. 

 BioAtla – 7 July 2020 

FIRST AMENDMENT TO EXCLUSIVE LICENSE AGREEMENT 

This First Amendment to Exclusive License Agreement (this “Amendment”) is dated as of July 7, 2020 (the
“Amendment Effective Date”) by and between Inversagen LLC, a Delaware limited liability company (“Inversagen”) and BioAtla, LLC, a Delaware limited liability company (“BioAtla”). Capitalized terms
used but not otherwise defined herein shall have the meanings ascribed to such terms in the Exclusive License Agreement by and between Inversagen and BioAtla effective as of March 15, 2019 (the “Agreement”). 

Background 
 The parties
desire to amend the Agreement as described more fully herein to provide BioAtla with an option as provided below. 
 Terms 

NOW, THEREFORE, in consideration of the mutual covenants contained herein, and for other good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, the Parties hereto, intending to be legally bound, hereby agree as follows: 
 1. Amendment
to Agreement. New Section 2.10 is hereby added as an amendment to the Agreement: “Option Grant. Subject to this Section 2.10, the Company hereby grants to BioAtla the exclusive option (the “Option”),
exercisable at any time during the period commencing on July 7, 2020 and ending on July 7, 2030 (the “Option Term”), to acquire the sole and exclusive rights solely to develop, make, have made, use, sell, have sold, offer
for sale and import the [***] Product in the Field in the Territory (other than the People’s Republic of China, Hong Kong, Taiwan and Macau) (such sole and exclusive rights, the “Rights”) with all provisions of the Agreement
applying, mutatis mutandis, provided that (a) all references to the Company and BioAtla shall be switched and (b) all references to Product shall be switched so as to refer to the [***] Product, and (c) the royalty rate
referred to in Section 4.2 shall be [***]. During the Option Term, BioAtla shall have the right, but not the obligation, to exercise the Option in its sole discretion by delivering written notice of such exercise (the “Option Exercise
Notice”) to the Company. Within ten (10) Business Days following the Option Exercise Notice delivery, the Company and BioAtla shall negotiate and enter into a definitive license agreement as contemplated by this Section 2.10. The
Company hereby represents and 
  
  

[***] Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be competitively
harmful if publicly disclosed. 
  

 
warrants to BioAtla that, as of July 7, 2020, the Company has not directly or indirectly licensed, assigned or otherwise transferred any of the Rights to any person (other than to BioAtla
pursuant to this Section 2.10). The Company hereby covenants and agrees with BioAtla that, during the Option Term, the Company shall not directly or indirectly license, assign or otherwise transfer any of the Rights to any person (other than to
BioAtla pursuant to this Section 2.10).” 
 2. Miscellaneous. The Parties hereby confirm and agree that, except as amended
hereby, the Agreement remains in full force and effect and is a binding obligation of the Parties hereto. This Amendment may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and
the same instrument. 
 This Amendment is executed by the authorized representatives of the parties as of the date first written above. 

 

									
	Inversagen LLC	  		  	BioAtla, LLC
					
	By:	 	 /s/ Carolyn Short
	  		  	By:	  	 /s/ Carolyn Short

	 Name: Carolyn Short
  

Title: Member
	  		  	 Name: Carolyn Short
  

Title: Member

  
 2

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