Document:

EX-10.25

 Exhibit 10.25 

CONFIDENTIAL TREATMENT REQUESTED 

UNIVERSITY OF MINNESOTA 

EXCLUSIVE PATENT LICENSE AGREEMENT 

THIS EXCLUSIVE PATENT LICENSE AGREEMENT (this “EPLA”) is made by and between Regents of the University of Minnesota, a
constitutional corporation under the laws of the state of Minnesota, having a place of business at 200 Oak Street, SE, Suite 280, Minneapolis, Minnesota 55455 (the “University”), and the Licensee identified below. The University and the
Licensee agree that: 
 The Terms and Conditions of Exclusive Patent License attached hereto as Exhibit A (the “Terms and
Conditions”) are incorporated herein by reference in their entirety. In the event of a conflict between provisions of this EPLA and the Terms and Conditions, the provisions in this EPLA shall govern. Capitalized terms used in this EPLA without
definition shall have the meanings given to them in the Terms and Conditions. The section numbers used in the parentheses below correspond to the section numbers in the Terms and Conditions. 

1. Licensee (§1.10): REGENXBIO Inc., a corporation under the laws of the state of Delaware, having a place of business at 1701 Pennsylvania
Avenue, NW, Suite 900, Washington, DC 20006. 
 2. Field(s) of Use (§1.5): All fields of use for a period of Five Years from the Effective Date.
Beginning on the fifth anniversary of the Effective Date, the Field of Use will be limited to: (i) all fields of use using the Licensee’s proprietary adeno-associated virus vectors, and/or (ii) any indications in which the Licensee
has done **** (and can document **** per indication). The Licensee shall provide the University with written notice of its proposed fields of use under clause (ii) within **** prior to the **** anniversary of the Effective Date for the
University’s review and confirmation that the proposed fields are consistent with the field of use described in such clause (ii). 
 3.
Territory (§1.17): Any country or territory in which a Licensed Patent has been issued and is unexpired or a Licensed Patent Application is pending. 

4. Effective Date (§2): Date of the last signature of this Agreement. 

5. Licensed Technology: 
 5.1 Licensed
Patent Applications (§1.7): 

  
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	Application No.	  	Country	  	Filing Date	  	Title
	****	  	****	  	****	  	****
	****	  	****	  	****	  	****

 6. Patent-Related Expenses (§§1.12 & 6.3): [Select one of the following] 

 

	 ̈	The Licensee has no obligation under this Agreement to reimburse the University for Patent-Related Expenses. 

  

	x	The Licensee shall reimburse the University for Patent-Related Expenses incurred before and during the Term as provided in section 6.3 of the attached Terms and Conditions; provided that, with respect to Patent-Related
Expenses incurred before the Term, the Licensee is only responsible for Patent-Related Expenses in the amount of **** (which reflects the Patent-Related Expenses incurred after November 1, 2013). 

 

	 ̈	The Licensee shall reimburse the University for Patent-Related Expenses incurred during the Term as provided in section 6.3 of the Terms and Conditions. The Licensee shall have no obligation to reimburse the University
for Patent-Related Expenses incurred before the Effective Date. 

  

	 ̈	The Licensee shall reimburse the University for Patent-Related Expenses incurred before the Effective Date, payable as follows:
                    . The Licensee shall have no obligation to reimburse the University for Patent-Related Expenses during the Term.

 7. Sublicense Rights (§3.1.2): [Select one of the following] 

 

	x	Yes 

  

	 ̈	No 

 8. Federal Government Rights (§3.2): [Select one of the following] 

 

	x	Yes 

  

	 ̈	No 

  
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 9. Performance Milestones (“PM”) (§5.1): The Licensee shall achieve the following
milestones. The Licensee has an automatic right to extend any Performance Milestone for **** periods of **** each for a payment of **** per extension. 
  

					
			
	PM 1	  	Deliver written development plan to University	  	**** after the Effective Date
			
	PM 2	  	Complete in vivo studies for a single indication to demonstrate efficacy (restoring normal enzyme levels, reducing metabolite storage, and correcting behavioral defects).	  	****
			
	PM 3	  	Submit IND for a single indication	  	****
			
	PM 4	  	Begin patient enrollment for a single indication	  	****
			
	PM 5	  	First in human for a single indication	  	****

 10. Commercialization Reports (§5.4): On each anniversary of the Effective Date, the Licensee shall deliver
written commercialization reports to the University as provided in section 5.4 of the Terms and Conditions. 
 11. Payments (§6.1). All amounts
are non-refundable, and payable as defined below or as specified in the University’s invoice. 
 11.1 Upfront Payment: Twenty
Five Thousand dollars ($25,000.00), payable within **** after the Effective Date. 

  
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 11.2 Annual Maintenance Fee: Payable during the Term on each anniversary of the
Effective Date. Creditable against royalties. 
  

					
	 Years 1 – 5
	  	 	*	*** 
	 Years 5 – 10
	  	 	*	*** 
	 Years 10 =>
	  	 	*	*** 

 11.3 Running Royalties and Annual Minimums. 

11.3.1 The Licensee shall pay the University a royalty of **** of the Net Sales Amount of the Licensee’s and any sublicensee’s
Commercial Sales of Licensed Products, determined and payable as provided in section 6.4 of the Terms and Conditions. By way of example, if a sublicensee has Net Sales of $1,000, then the Licensee pays the University **** and not **** of what the
Licensee receives from the sublicensee, 
 11.3.2 The annual minimum amount of Royalties owed by the Licensee under subsection 11.3,1 shall
be ****. 
 11.4 Sublicense Revenues. Within **** after the last day of each calendar quarter, during the Term, the Licensee shall
pay to the University Sublicense Revenues as received by the Licensee during such quarter as follows: 
 The Licensee shall pay the
University according to the following schedule with respect to Sublicense Revenues. All amounts paid by the Licensee under this section 11.4 are creditable against future running royalty payments due the University pursuant to section 11.3 above and
section 6.4 of the Terms and Conditions. 
  

			
		
	Sublicense Revenues received from the Effective Date through the first anniversary of the Effective Date	  	****
		
	Sublicense Revenues received after the first anniversary of the Effective Date through the second anniversary of the Effective Date	  	****
		
	Sublicense Revenues received after the second anniversary of the Effective Date through the third anniversary of the 	  	****

  
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	Effective Date	  	
		
	Sublicense Revenues received after the third anniversary of the Effective Date	  	****

 11.5 Other Payments: The Licensee shall pay to the University (a) **** upon approval of IND for
the first Licensed Product by FDA; and (b) **** upon FDA approval of the first Licensed Product for AAV gene therapy that includes intrathecal delivery. Such payments will be due **** after the last day of the calendar quarter during the Term
in which the event took place. Such payments are payable ****, regardless of how ****. 
 11.6 Equity: N/A 

11.7 Transfer Payment: ****, payable as provided in section 12.5 of the Terms and Conditions. 

11.8 Administrative Handling Fee: ****, payable as provided in subsection 8.1.1 of the Terms and Conditions. 

11.9 Interest Rate: **** per annum. 

11.10 Other: Anti-Stacking. The parties are currently working together on additional research which may result in the creation of
additional intellectual property. If such new intellectual property arises and is licensed to the Licensee, the Licensee shall pay the University **** on each Licensed Product at the **** rate available in the license agreements between the parties.

 12. Licensee’s Address for Notice (§12.13). Notices will be sent to the Licensee at: 

 

			
		 	REGENXBIO Inc.
		 	1701 Pennsylvania Avenue, NW
		 	Suite 900
		 	Washington, DC 20006
		 	Attention: Chief Executive Officer
		 	Facsimile No.: (202) 785-7439
		 	Email: kmills@regenxbio.com

 13. Licensee’s Contact Person for Patent Prosecution Consultation (§4.2.1). The University will, as set forth
in this Agreement, communicate with the contact person named below with 

  
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 respect to patent prosecution and maintenance: (Upon ten (10) days prior written notice to the
University, the Licensee may change the person designated below.) 
  

			
		 	REGENXBIO Inc.
		 	1701 Pennsylvania Avenue, NW
		 	Suite 900
		 	Washington, DC 20006
		 	Attention: General Counsel
		 	Facsimile No.: (202) 785-7439
		 	Email: sberl@regenxbio.com

 IN WITNESS WHEREOF, the parties hereto have caused their duly authorized representatives to execute
this Agreement. 
  

									
	Regents of the University of Minnesota	 		 	REGENXBIO Inc.
					
	By:	 	 /s/ Richard Huebsch
	 		 	By:	 	 /s/ Kenneth T. Mills

		 	Richard Huebsch	 		 	Name:	 	Kenneth T. Mills
		 	Associate Director	 		 	Title:	 	President and CEO
		 	Office for Technology Commercialization	 		 		 	
			
	Date: 11-7-14	 		 	Date: 11-10-2014

  
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 UNIVERSITY OF MINNESOTA 

EXHIBIT A 
 Terms and
Conditions 
 Exclusive Patent License Agreement 

These terms and conditions to the Exclusive Patent License Agreement (“Terms and Conditions”) govern the grant of license by Regents
of the University of Minnesota (“University”) to the Licensee identified in the Exclusive Patent License Agreement (the “EPLA”). These Terms and Conditions are incorporated by reference into the EPLA. All section references in
these Terms and Conditions refer to provisions in these Terms and Conditions unless explicitly stated otherwise. 
 1. Definitions. For purposes of
interpreting this Agreement, the following terms have the following meanings: 
 1.1 “Affiliate” means an entity that controls the
Licensee or the sublicensee, as the case may be, is controlled by the Licensee or sublicensee, or along with the Licensee or sublicensee, is under the common control of a Third Party. An entity shall be deemed to have control of the controlled
entity if it (i) owns, directly or indirectly, fifty percent (50%) or more of the outstanding voting securities of the controlled entity, or (ii) has the right, power or authority, directly or indirectly, to direct or cause the
direction of the policy decisions of the controlled entity, whether by ownership of securities, by representation on the controlled entity’s governing body, by contract, or otherwise. 

1.2 “Agreement” means, collectively, the EPLA and the Terms and Conditions. 

1.3 “Commercial Sale” means a bona fide sale, use, lease, transfer or other disposition for value of a Licensed Product by the
Licensee or a sublicensee to a Third Party that is not a sublicensee or an Affiliate of the Licensee or a sublicensee. Dispositions between or among any of the Licensee, sublicensees, and their respective Affiliates shall not be deemed a
“Commercial Sale,” except where such person is an end user, but “Commercial Sale” will include the subsequent final sales to Third Parties by such persons. 

1.4 “FDA” means the United States Food and Drug Administration, or a successor agency in the United States with responsibilities
comparable to those of the United States Food and Drug Administration. 
 1.5 “Field of Use” means the field(s) of use described
in section 2 of the EPLA. 

  
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 1.6 “Licensed Patent” means (a) the patent(s) described in section 5.1 of the
EPLA and any patent(s) issued during the Term that arose out of a Licensed Patent Application, (b) any reexaminations, renewals, re-issues, and extensions (including any patent term extensions) of any of such patents, and (c) any foreign
counterparts (including supplemental patent certificates) of any of the foregoing. 
 1.7 “Licensed Patent Application” means
(a) the pending patent application(s) described in section 5.2 of the EPLA, (b) any continuations, continuations-in-part, divisionals, and substitutes, or any other patent application claiming priority, or entitled to claim priority,
directly or indirectly to any, of such patent application(s), and (c) any foreign counterparts of any of the foregoing. 
 1.8
“Licensed Product” means any product or good in the Field of Use that is made by, made for, sold, transferred, or otherwise disposed of by the Licensee or its sublicensees during the Term and, if applicable, the Post-termination Period and
that, on a country-by-country basis, but for the granting of the rights set forth in this Agreement, (i) infringes (including under the doctrine of equivalents) one or more Valid Claims in a Licensed Patent; or (ii) is covered by one or
more Valid Claims in a Licensed Patent Application, or any product or good that is made by the Licensee or its sublicensees during the Term and, if applicable, the Post-termination Period using a process or method that, on a country-by-country basis
but for the granting of rights set forth in this Agreement, (i) infringes (including under the doctrine of equivalents) one or more Valid Claims in a Licensed Patent; or (ii) is covered by one or more Valid Claims in a Licensed Patent
Application. For purposes of this Agreement, Valid Claims in a Licensed Patent Application are to be treated as if they were allowed as proposed. “Licensed Product” also means any service that is provided by or for the Licensee or its
sublicensees during the Term and, if applicable, the Post-termination Period and that, on a country-by-country basis, but for the granting of the rights set forth in this Agreement, (i) infringes (including under the doctrine of equivalents)
one or more Valid Claims in a Licensed Patent; or (ii) is covered by one or more Valid Claims in a Licensed Patent Application. 
 1.9
“Licensed Technology” means collectively the inventions claimed in each Licensed Patent and each Licensed Patent Application. 

1.10 “Licensee” means the entity identified in section 1 of the EPLA. 

1.11 “Net Sales Amount” means the gross amount received by the Licensee or a sublicensee for a Commercial Sale of a Licensed Product
minus ****. 

  
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 Commercial Sales of Licensed Products without charge or at cost in connection with research and development,
clinical trials, compassionate use, humanitarian and charitable donations, or indigent programs or for use as samples shall be excluded from the computation of Net Sales Amounts, and no payments will be payable on such Commercial Sales. 

1.12 “Patent-Related Expenses” means reasonable costs and expenses (including out-of-pocket attorneys’ fees, patent agent fees
and governmental filing fees) that the University incurs in prosecuting and maintaining the Licensed Patents and Licensed Patent Applications. 

1.13 Performance Milestone” means an act or event specified in section 5.1 and described in section 9 of the EPLA. 

1.14 “Post-termination Period” means the **** period commencing on the date of early termination of the Term. 

1.15 “Sublicense Revenues” means all cash revenue, but excluding Sublicense Royalties, received by the Licensee in consideration of
its granting a Third Party a sublicense to any of its rights under this Agreement, including, without limitation, receipt of annual milestone attainment, sublicense issuance, maintenance or up-front payments, or technology access fee but excluding
any portion of any revenue received from any Third Party sublicensee (a) relating to the sale or purchase of securities, (b) the receipt of real, personal or tangible property, (c) for the performance of research, development, or
other services, (d) relating to the license or sublicense of any intellectual property other than the Licensed Patents, Licensed Patent Applications, or Licensed Technology, (e) for the sale of products other than the Licensed Products,
(f) as reimbursement for patent or other expenses, or (g) for payments received from the Third Party sublicensee (including annual milestone attainment, sublicense issuance, maintenance or up-front payments, or technology access fees) to
the extent such payments do not exceed each such payments owed by the Licensee to the University under this Agreement. 
 With respect to (g) above, by
way of example: If a sublicensee achieves the milestone for approval of IND under Section 11.5(a) of the EPLA, the Licensee would owe University **** under Section 11.5 of the EPLA. If a sublicensee pays the Licensee **** for the
achievement of such milestone, no portion of that payment would be considered Sublicense Revenues; however, if the sublicensee pays the Licensee more than **** for the achievement of such milestone, the initial $25,000 of such payment would not be
considered Sublicense Revenues, but any amounts over such **** would be considered Sublicense Revenues. 

  
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 1.16 Sublicense Royalties” means a royalty paid to the Licensee that is earned on
Commercial Sales of Licensed Products by sublicensees and that is determined as percentage of the Net Sales Amount of such Commercial Sale or as a per unit amount by the sublicensee. 

1.17 “Territory” means the geographical area described in section 3 of the EPLA. 

1.18 “Third Party” means any party other than the University, the Licensee, or their respective Affiliates. 

1.19 “Transfer Payment” means the payment to be made by the Licensee to the University specified in section 12.5 and described in
section 11 of the EPLA. 
 1.20 “Valid Claim” means (a) a claim of an issued and unexpired Licensed Patent or (b) a
claim of a Licensed Patent Application that has not been pending for more than seven years from the earliest filing date to which such claim or the applicable patent application is entitled to claim priority, in each case under clauses (a) and
(b) that has not expired, lapsed, been abandoned or cancelled, been held revoked, or been deemed unenforceable or invalid by a non-appealable decision or an appealable decision from which no appeal was taken within the time allowed for such
appeal of a court or other governmental agency of competent jurisdiction. 
 2. Term. The term of this Agreement commences on the Effective Date as
defined in section 4 of the EPLA and, unless terminated earlier as provided in section 8, expires on the date on which both no Licensed Patent is active in the Territory and no Licensed Patent Application is pending in the Territory (the
“Term”). Upon expiration of this Agreement, the Licensee’s license under section 3.1 will become a royalty-free, fully-paid up, perpetual, and irrevocable license. 

3. Grant of License. 
 3.1 The
Licensee’s Rights. 
 3.1.1 Subject to the terms and conditions of this Agreement, the University hereby grants to the Licensee, and
the Licensee hereby accepts, an exclusive license, under the Licensed Patents, Licensed Patent Applications, and Licensed Technology, to make (including to have made on its behalf), use, offer to sell or sell (including to have sold on its behalf),
offer to lease or lease (including to have leased on its behalf), import, or otherwise offer to dispose or dispose of Licensed Products in the Field of Use in the Territory, including, for the avoidance of doubt, the right to conduct research and
development. No provision of this Agreement is to be construed to grant the Licensee, by implication, estoppel or otherwise, any rights (other than the rights expressly granted it in this Agreement) to the Licensed Technology, a Licensed Patent or
Licensed Patent 

  
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Application, or to any other University-owned technology, patent applications, or patents. 

3.1.2 The Licensee shall not sublicense its rights under this Agreement, unless otherwise provided in section 7 of the EPLA. If so provided,
the Licensee may sublicense it rights under this Agreement, in whole or in part, through multiple tiers and to Third Parties and Affiliates; provided that, with respect to any sublicense to a Third Party, the Licensee shall deliver to the University
a true and correct copy of the sublicense agreement or other agreement under which the Licensee purports or intends to grant such sublicense rights within **** the execution of such agreement, which copy may be redacted to exclude confidential
information of the Licensee or the applicable sublicensee, but such copy shall not be redacted to the extent that it impairs the University’s ability to ensure compliance with this Agreement. The Licensee shall not enter into such agreement if
the terms of the agreement are inconsistent in any respect with the terms of this Agreement, including without limitation, sections 5.2 - 5.6, 6.5, 8.3, 9.6, 10.3, and 11.2. Any sublicense made in violation of this subsection is void. 

3.2 The United States Government’s Rights. If the University indicated in section 8 of the EPLA that the United States federal
government funded the development, in whole or in part, of the Licensed Technology, then, (i) the federal government may have certain rights in and to the Licensed Technology as those rights are described in Chapter 18, Title 35 of the United
States Code and accompanying regulations, including Part 401, Chapter 37 of the Code of Federal Regulations; and (ii) the parties’ rights and obligations with respect to the Licensed Technology, including the grant of license set forth in
subsection 3.1.1, are subject to the applicable terms of these laws and regulations. 
 3.3 The University’s Rights. The
University retains an irrevocable, world-wide, royalty-free, non-exclusive right to use the Licensed Technology for non-commercial teaching, research, and educational purposes. The University shall have the right to sublicense its rights under this
section to one or more non-profit academic or research institutions for noncommercial teaching, research, and educational purposes, with no right to further sublicense. Notwithstanding the foregoing, the University shall not grant another sponsor
rights to use the Licensed Technology and the University’s Office for Technology Commercialization will use reasonable efforts to inform the other sponsor that the Licensed Technology has been licensed on an exclusive basis to Licensee. 

4. Applications and Patents. 
 4.1
Pre-EPLA Patent Filings. The Licensee acknowledges that it has reviewed the pending patent application(s) described in section 5.1 of the EPLA, as of the Effective Date, and that it will not dispute the inventorship, validity, or
enforceability of any of the claims made in such patent application as of the effective date. The Licensee further represents that, as of the 

  
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Effective Date, it has not and does not manufacture, have manufactured, offer to sell, sell, offer to lease, lease, or import (a) any product or good that infringes (including under the
doctrine of equivalents) a Valid Claim in any pending patent application(s) described in section 5.1 of the EPLA, or (b) any product or good that is made using a process or machine that infringes (including under the doctrine of equivalents) a
Valid Claim in any such patent(s) or patent application(s). 
 4.2 Patent Application Filings during the Term. 

4.2.1 The University, in consultation with the Licensee, shall determine in which countries patent application(s) will be filed and prosecuted
with respect to the Licensed Technology. The University shall retain counsel of its choice (and reasonably acceptable to the Licensee) to file and prosecute such patent applications. The University shall inform the Licensee of the status of the
prosecution of the patent application, including delivering to the Licensee pertinent notices, written and oral communications with governmental officials, and documents (including drafts of documents to be provided to governmental officials), and
shall consult with the Licensee on the prosecution of the patent application and consider the Licensee’s comments in good faith. The Licensee shall reasonably cooperate with the University in the filing and prosecution of all patent
applications with respect to the Licensed Technology. In furtherance of the foregoing, the Licensee shall notify the University, in writing, of the individual whom the Licensee has designated to consult and cooperate as provided in this subsection
and is identified in section 13 of the EPLA. The Contact Person shall respond to the University’s request for consultation and cooperation on a pending matter within **** or sooner as may be required under the circumstances. If the Contact
Person fails to respond in such time period, the University, exercising its own judgment and discretion, may respond to the matter as it deems appropriate. Except as provided in subsection 4.2.2, the Licensee shall reimburse the University for all
Patent-Related Expenses as provided in section 6.3 and in section 6 of the EPLA. The grant of license in section 3.1 and the definition of “Licensed Patent” or “Licensed Patent Application” in section 1.6 or 1.7, respectively,
shall not extend to or include any patent or patent application, on a country-by-country basis, with respect to which the Licensee elects, in writing to the University, not to pay or reimburse the payment of the cost, in whole or in part, to seek or
maintain such patent or patent application. 
 4.2.2 No provision of this Agreement limits, conditions, or otherwise affects the
University’s right to prosecute a patent application with respect to the Licensed Technology in any country. The University retains the sole and exclusive right to file or otherwise prosecute a patent application with respect to the Licensed
Technology. The 

  
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Licensee shall cooperate with the University in the filing and prosecution of all patent applications with respect to the Licensed Technology. 

4.3 Rights in the Licensed Patents and Licensed Patent Applications. No provision of this Agreement grants the Licensee any rights,
titles, or interests (except for the grant of license in subsection 3.1.1) in the Licensed Patents or Licensed Patent Applications, notwithstanding the Licensee’s payment of all or any portion of the patent prosecution, maintenance, and related
costs. 
 5. Commercialization. 
 5.1
Commercialization and Performance Milestones. The Licensee (itself or through its Affiliates and sublicensees) shall use its commercially reasonable efforts, consistent with sound and reasonable business practices and judgment, to
commercialize the Licensed Technology and to manufacture and offer to sell and sell Licensed Products as soon as reasonably practicable and to maximize sales thereof. The Licensee (itself or through its Affiliates and sublicensees) shall perform, or
shall cause to happen or be performed, as the case may be, all the performance milestones described in section 9 of the EPLA. 
 5.2
Covenants Regarding the Manufacture of Licensed Products. The Licensee acknowledges that it is responsible for ensuring that the manufacture, use, sale, or transfer of Licensed Products complies with all applicable federal and state laws,
including all federal export laws and regulations. The Licensee hereby further covenants and agrees that, pursuant to 35 United States Code Section 204, it shall, and it shall cause each sublicensee, to substantially manufacture in the United
States of America all products to be used or sold in the United States that embody or are produced through the use of an invention that is subject to the rights of the federal government of the United States of America. Upon the Licensee’s
request, the University will provide reasonable assistance (not to exceed two hours of administrative time) in obtaining a waiver from the United States government with respect to such manufacturing requirement. If additional administrative time is
needed, the parties will negotiate a reasonable rate for the University assistance, which would not be contingent on the outcome with respect to obtaining the waiver. 

5.3 Export and Regulatory Compliance. The Licensee understands that the Arms Export Control Act (AECA), including its implementing
International Traffic In Arms Regulations (ITAR,) and the Export Administration Act (EAA), including its Export Administration Regulations (EAR), are some (but not all) of the laws and regulations that comprise the U.S. export laws and regulations.
The Licensee further understands that the U.S. export laws and regulations include (but are not limited to): (1) ITAR and EAR product/service/data-specific requirements; (ii) ITAR and EAR ultimate destination-specific requirements;
(iii) ITAR and EAR end user-specific requirements; (iv) Foreign Corrupt Practices Act; and (v) antiboycott laws and regulations. The Licensee shall comply with all then-current applicable export laws and regulations of the U.S.

  
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 Government (and other applicable U.S. laws and regulations) pertaining to the Licensed Products (including
any associated products, items, articles, computer software, media, services, technical data, and other information). The Licensee certifies that it shall not, directly or indirectly, export (including any deemed export), nor re-export (including
any deemed re-export) the Licensed Products (including any associated products, items, articles, computer software, media, services, technical data, and other information) in violation of U.S. export laws and regulations or other applicable U.S.
laws and regulations. The Licensee shall include an appropriate provision in its agreements with its authorized sublicensees to assure that these parties comply with all then-current applicable U.S. export laws and regulations and other applicable
U.S. laws and regulations. 
 5.4 Commercialization Reports. Throughout the Term, and within **** of the date specified in the
schedule set forth in section 10 of the EPLA, the Licensee shall deliver to the University written reports of the Licensee’s and the sublicensees’ efforts and plans to commercialize the Licensed Technology and to manufacture, offer to
sell, or sell Licensed Products. 
 5.5 Use of the University’s Name and Trademarks or the Names of University Faculty, Staff, or
Students. No provision of this Agreement grants the Licensee or sublicensee any right or license to use the name, logo, or any marks owned by or associated with the University or the names, or identities of any member of the faculty, staff, or
student body of the University. The Licensee shall not use and shall not permit a sublicensee to use any such logos, marks, names, or identities without the University’s and, as the case may be, such member’s prior written approval.
Notwithstanding the foregoing, the Licensee may acknowledge the existence and general nature of this Agreement and the Licensee’s status as a licensee under the Licensed Patents, Licensed Patent Applications, and Licensed Technology. 

5.6 Governmental Markings. 

5.6.1 The Licensee shall mark all Licensed Products, where feasible, with patent notice appropriate under Title 35, United States Code. 

5.6.2 The Licensee is responsible for obtaining all necessary governmental approvals for the development, production, distribution, sale, and
use of any Licensed Product, at the Licensee’s expense, including, without limitation, any safety studies. The Licensee is responsible for including with the Licensed Product any warning labels, packaging and instructions as to the use and the
quality control for any Licensed Product. 
 5.6.3 Upon the University’s reasonable request and the agreement of the parties, the
Licensee agrees to register this Agreement with any foreign governmental agency that requires such registration, and the Licensee shall pay all costs and legal fees 

  
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in connection with such registration. The Licensee shall be responsible for complying with all foreign laws affecting this Agreement or the sale of Licensed Products. 

6. Payments, Reimbursements, Reports, and Records. 

6.1 Payments. The Licensee shall pay all amounts due under this Agreement by check (payable to the “Regents of the University of
Minnesota” and sent to the address specified in section 12.13), wire transfer, or any other mutually agreed-upon method of payment. 

6.2 Interest. All amounts due under this Agreement shall bear interest as provided in section 11 of the EPLA on the entire unpaid
balance computed from the due date until the amount is paid. 
 6.3 Reimbursement of Patent-Related Expenses. The Licensee shall pay
invoices for Patent-Related Expenses under this Agreement within **** of its receipt of the University’s invoice. With respect to each invoice, the University shall use reasonable efforts to specify the date on which the Patent-Related Expense
was incurred and the purpose of the expense (including, as applicable, a summary of patent attorney services giving rise to the expense); provided, however, the University is not required to disclose to the Licensee any information that is protected
by the University’s attorney-client privilege. Patent-Related Expenses incurred as of the Effective Date are set forth in section 6 of the EPLA. 

6.4 Royalty Payments/Sales Reports. Within **** after the last day of the second and fourth calendar quarters during the Term and, if
applicable, within **** after the last day of the Post-termination Period, the Licensee shall deliver to the University a written sales report, in the form attached hereto as Schedule 1, recounting the number and Net Sales Amount (expressed in U. S.
dollars) of all Commercial Sales of Licensed Products, whether made by the Licensee or a sublicensee, during such semi-annual period. The Licensee shall deliver such written report to the University even if the Licensee is not required hereunder to
pay to the University a payment for Commercial Sales of Licensed Products during the semiannual period. The Licensee shall deliver along with such sales reports its payment for royalties owed on all Commercial Sales of Licensed Products by the
Licensee and the sublicensees during such semi-annual period. Only one royalty shall be payable by the Licensee for each Commercial Sale of a Licensed Product. 

6.5 Records Retention and Audit Rights. 

6.5.1 Throughout the Term and, if applicable, the Post-termination Period and for **** thereafter, the Licensee, at its expense, shall keep and
maintain and shall cause each sublicensee and each non-affiliated Third Party that manufactures, sells, leases, or otherwise disposes of Licensed Products on behalf of the Licensee to 

  
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keep and maintain complete and accurate records of all sales, leases, and other dispositions of Licensed Products during the Term and, if applicable, the Post-termination Period and all other
records related to this Agreement. 
 6.5.2 In connection with an audit described in section 6.5.3, the Licensee, upon written request,
shall deliver to the University and its representatives true, correct and complete copies of all documents and materials (including electronic records) reasonably relevant to the Licensee’s and sublicensees’ performance of this Agreement,
including, without limitation, all sublicenses granted. 
 6.5.3 To determine the Licensee’s compliance with the terms of this
Agreement, the University, at its expense (except as set forth in this subsection), may inspect and audit the Licensee’s records referred to in subsection 6.5.1 at the Licensee’s address as set forth in this Agreement or such other
location(s) as the parties mutually agree during the Licensee’s normal business hours and with reasonable advance notice. The Licensee shall cooperate in the audit, including providing at no cost, commodious space in the Licensee’s place
of business for the auditor. The University may perform an audit no more frequently than once each calendar year and any period may not be audited more than once. The Licensee shall reimburse the University for all its out-of-pocket expenses to
inspect and audit such records if the University, in accordance with the results of such inspection and audit, determines that the Licensee has underpaid amounts owed to the University by at least **** or ****, whichever is smaller, in a reporting
period. The Licensee shall cause each sublicensee and each non-affiliated Third Party that manufactures, sells, leases, or otherwise disposes of Licensed Products on behalf of the Licensee to grant the University a right to inspect and audit the
sublicensee’s or Third Party’s records substantially similar to the rights granted the University in this subsection. In connection with, and before the commencement of, an audit, if the Licensee requests in writing to the University, then
prior to conducting such audit, the Licensee (or sublicensee, if applicable), the University and the auditor must enter into an agreement prohibiting the auditor and the University from disclosing the Licensee’s (or sublicensee’s)
nonpublic, proprietary information to any Third Party without the Licensee’s (or sublicense’s) prior written consent or from using such information other than for purposes of determining the Licensee’s compliance with the terms of
this Agreement; provided, however, that consistent with generally accepted auditing standards and the auditor’s professional judgment, the auditor may disclose such information to the University and its agents, counsel, or consultants. The
Licensee acknowledges that such an agreement is adequate to protect its legitimate interests, and the parties agree that there shall be no additional nondisclosure agreement demanded as a condition to the commencement of an audit and the
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 6.6 Currency and Checks. All computations and payments made under this Agreement shall
be in United States dollars. To determine the dollar value of transactions conducted in non-United States dollar currencies, the parties shall use the exchange rate for the currency into dollars as reported in the Wall Street Journal as the New York
foreign exchange mid-range rate on the last business day of the month in which the transaction occurred. 
 6.7 Withholding. If any
payment made by the Licensee hereunder is subject to withholding taxes under the laws of any jurisdiction, the Licensee will be entitled to deduct and withhold the amount of such taxes for the account of the University to the extent required by law
and, in such event, will pay the amounts of such taxes to the proper governmental authority in a timely manner and promptly transmit to the University appropriate proof of payment of such withholding taxes. At the request of the Licensee, the
University will give the Licensee such reasonable assistance, which will include the provision of documentation as may be required by the relevant tax authority, to enable the Licensee to pay and report and, as applicable, claim exemption from or
reduction of, such withholding tax. Any taxes withheld or remitted pursuant to this section will be treated as paid by the Licensee to the University. 
 7.
Infringement. 
 7.1 If a party learns of substantial, credible evidence that a Third Party is making, using, or selling a product in
the Field of Use in the Territory that infringes a Licensed Patent or would infringe a Licensed Patent Application if such application were to issue, such party shall promptly notify the other party in writing of the possible infringement and in
such notice describe in detail the information suggesting infringement of the Licensed Patent or Licensed Patent Application. The Licensee, under its own control and at its own expense, shall have the first right but not the obligation to prosecute
any third party infringement of the Licensed Patents or Licensed Patent Applications (an “Infringement Action”) with respect to any infringement related to the Field of Use, to the extent permitted by law. With respect to any infringement
not related to the Field of Use, the University shall have the first right to bring an Infringement Action. Prior to commencing any action to enforce a Licensed Patent or Licensed Patent Application, the parties shall enter into good faith
negotiations on the desirability of bringing suit, the parties to the action, the selection of counsel, and such other matters as the parties may agree to discuss; provided that the party bringing the Infringement Action shall have ultimate
discretion over such matters. If a party is unsuccessful in persuading the alleged infringer to desist or fails to have initiated an Infringement Action within a reasonable time after such party first becomes aware of the basis for such action, the
other party shall have the right, at its sole discretion, to prosecute such infringement under its sole control and at its sole expense, on notice to the other party. In any Infringement Action, the parties agree to cooperate reasonably (without a
duty to join suit) with each other, at the enforcing party’s request and expense, including by using reasonable efforts to permit access to relevant personnel, records, papers, information, samples and specimens during regular business hours.

  
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 Notwithstanding the foregoing, if a court determines that the Licensee cannot prosecute an infringement
Action without including the University as a party, and the court does not involuntarily join the University, then the University shall have no obligation to join such action but may do so if it determines, in its sole discretion, that joining the
action would not be adverse to the best interests of the University; provided that, if the University does not join such action, the parties will negotiate in good faith an adjustment to the payment terms of this License, which may include,
depending on the economic impact of the alleged infringement on Licensee’s commercialization of the Licensed Technology, a suspension of Licensee’s obligations to make any payments under sections 6.1 and 6.4 (including any payments
described in sections 11.1, 11.2, 11.3, 11.4, 11.5 and 11.7 of the EPLA) for so long as the infringement continues. In any such Infringement Action, the enforcing party shall keep the non-enforcing party reasonably informed of the status and
progress of the action, including, among other things, delivering to the non-enforcing party no less than once a quarter a written report of the status of the action. The non-enforcing party shall have the right to be represented in any such action
by counsel of its own choice and at its own expense. Without the non-enforcing party’s prior written consent, the enforcing party may not settle or compromise any such action in a manner that imposes any obligations or restrictions on the other
party or grants any rights to the Licensed Patents or Licensed Patent Applications other than rights that the enforcing Party has the right to grant under this Agreement. Any amounts recovered (less amounts actually paid for costs and expenses
associated with the litigation, including reasonable attorney’s fees and legal expenses) by the Licensee in any such action or settlement that constitute compensation for lost profits or sales will be ****. All other amounts recovered (less
amounts actually paid for costs and expenses associated with the litigation, including reasonable attorney’s fees and legal expenses) by the Licensee in such action or settlement ****. 

7.2 If any suit, action or proceeding is brought or commenced against the Licensee alleging the infringement of a patent or other intellectual
property right owned by a Third Party by reason of the manufacture, use or sale of Licensed Products, the Licensee shall give the University prompt notice thereof. If the validity of a Licensed Patent is questioned in such suit, action or
proceeding, the Licensee shall have no right to make any settlement or compromise which affects the scope, validity, enforceability or otherwise the Licensed Patent without the University’s prior written approval. 

8. Termination. 
 8.1 By the
University. 
 8.1.1 If the Licensee materially breaches or materially fails to perform one or more of its obligations under this
Agreement, the University may deliver a written notice of default to the Licensee. Without further action by a party, this Agreement shall 

  
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terminate if (a) the University has not been paid the full amount of the greater of (i) the Administrative Handling Fee set forth in section 11 of the EPLA and (ii) interest in the
amount set forth in section 11.9 of the EPLA, except neither such payment will be due if the default is not a monetary default (other than a breach of the obligation to meet the performance milestones pursuant to the last sentence of
Section 5.1), and (b) the default has not been cured in full within either sixty (60) days after the delivery to the Licensee of the notice of default if the default relates to a payment or reimbursement obligation under this Agreement, or
ninety (90) days after the delivery to the Licensee of the notice of default if the default relates to any other matter. If any default by the Licensee is as a result of an act of any sublicensee, the Licensee may cure such default by terminating
such sublicensee’s sublicense agreement. 
 8.1.2 The University may terminate this Agreement by delivering to the Licensee a written
notice of termination at least ten (10) days before the date of termination if the Licensee (i) becomes insolvent; (ii) voluntarily files or has filed against it a petition under applicable bankruptcy or insolvency laws that the Licensee
fails to have released within ninety (90) days after filing; (iii) proposes any dissolution, composition, or financial reorganization with creditors or if a receiver, trustee, custodian, or similar agent is appointed; or (iv) makes a
general assignment for the benefit of creditors. 
 8.1.3 The University may terminate this Agreement immediately by delivering to the
Licensee a written notice of termination if the Licensee or its agents or representatives commences or maintains an action in any court of competent jurisdiction or a proceeding before any governmental agency asserting or alleging, in any respect,
the invalidity or unenforceability of any of the Licensed Patent or Licensed Patent Application. The Licensee shall notify the University, in writing, at least thirty (30) days prior to the commencement of any such action or the institution of any
such proceeding. 
 8.2 By the Licensee. 

8.2.1 If the University materially breaches or materially fails to perform one or more of its duties under this Agreement, the Licensee may
deliver to the University a written notice of default. The Licensee may terminate this Agreement by delivering to the University a written notice of termination if the default has not cured in full within **** of the delivery to the University of
the notice of default. 
 8.2.2 The Licensee may, upon **** prior written notice to the University, terminate this Agreement for any reason,
with or without cause; provided that (i) the Licensee is current in all payment obligations due as of the notice and termination date; and (ii) the Licensee pays the University ****. 

  
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 8.3 Post-termination Period. Except as provided in this section 8.3, upon early
termination of this Agreement, the Licensee’s license under the Licensed Technology terminates. If the Licensee terminates this Agreement under section 8.2 or the University terminates this Agreement under section 8.1.2 or 8.1.3, the Licensee
may continue to use, offer to sell and sell, offer to lease and lease, import, and otherwise offer to dispose of or dispose of Licensed Products in the Territory that were manufactured before such termination. The Commercial Sales of Licensed
Products during the Post-termination Period shall be governed by the terms of this Agreement, including the obligation to pay royalties on such Commercial Sales as provided in this Agreement. 

8.4 Survival of Sublicenses. Except as otherwise provided in the sublicense agreement, if this Agreement terminates early for any
reason, any Third Party sublicensee will, from the effective date of such termination, automatically become a direct licensee of the University with respect to the rights originally sublicensed to the Third Party sublicensee by the Licensee;
provided that (a) such sublicensee is not in breach of its sublicense agreement and continues to perform thereunder, (b) such sublicensee agrees in writing to pay to the University the amounts that would have become due under this
Agreement in respect of such sublicense if this Agreement had not been terminated, and (c) such sublicensee agrees in writing to the terms and conditions of this Agreement related to the rights sublicensed to such sublicensee. Notwithstanding
the foregoing, the University will not be liable to such sublicensee with respect to any obligations of the Licensee to the sublicensee that are inconsistent with the University’s obligations under this Agreement. 

8.5 Bankruptcy. All rights and licenses granted under or pursuant to this Agreement by the University to the Licensee are, and shall
otherwise be deemed to be, for purposes of Section 365(n) of the United States Bankruptcy Code, as amended (the “Code”), licenses of rights to “‘intellectual property’ as defined under Section 101(35A) of the Code.
The Licensee, as licensee of such rights under this Agreement, will retain and may fully exercise all of its rights and elections under the Code. In the event of the commencement of a bankruptcy proceeding by or against the University under the
Code, the Licensee shall be entitled to retain all of its rights under this Agreement. 
 9. Release, Indemnification, and Insurance. 

9.1 The Licensee’s Release. The Licensee hereby releases the University and its regents, employees, and agents forever from any and
all suits, actions, claims, liabilities, demands, damages, losses, or expenses (including reasonable attorneys’ and investigative expenses) relating to or arising out of the manufacture, use, lease, sale, or other disposition of a Licensed
Product by the Licensee or any of its sublicensees (or any person that would be a sublicensee but for the sublicense being void pursuant to Section 3.1.2) as permitted by this Agreement; provided that the foregoing release is limited to any
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Agreement and does not apply to any suits, actions, claims, liabilities, demands, damages, losses, or expenses that may arise in connection with any other agreement between the University and the
Licensee; furthermore, the foregoing release is not intended and shall not limit enforcement of the University’s obligations under section 9.3 or enforcement of any claims related to the breach by the University of section 3 or its warranties
under section 10.1. 
 9.2 The Licensee’s Indemnification. Throughout the Term and thereafter, the Licensee shall indemnify,
defend, and hold the University and its regents, employees, and agents harmless from all Third Party suits, actions, claims, liabilities, demands, damages, losses, or expenses (including reasonable attorneys’ and investigative expenses)
(collectively, “Third Party Liabilities”), relating to or arising out of the Licensee’s ****. 
 9.3 The University’s
indemnification. Subject to the limitation on liability set forth in section 11, throughout the Term and thereafter, the University shall indemnify, defend, and hold the Licensee and its directors, employees, and agents harmless from all Third
Party Liabilities relating to or arising out of the ****. 
 9.4 Indemnification Procedure. The party claiming indemnity under
section 9.2 or 9.3 (the “Indemnified Party”) will give written notice to the party from whom indemnity is being sought (the “Indemnifying Party”) promptly after learning of the claim for which indemnity is being sought; provided
that a failure to provide such notice promptly shall not relieve the Indemnifying Party of any liability to the Indemnified Party except to the extent the Indemnifying Party is actually prejudiced thereby. The Indemnifying Party shall be permitted
to control any litigation or potential litigation involving any defense of any claim subject to indemnification pursuant to this section 9, including the selection of counsel, with the reasonable approval of the Indemnified Party; provided, however,
that the Indemnified Party may participate in and monitor such defense with counsel of its own choosing at its sole expense, which shall not be subject to indemnification. The Indemnified Party shall provide the Indemnifying Party with reasonable
assistance, at the Indemnifying Party’s expense, in connection with the defense of any claim for which indemnity is being sought. If an Indemnifying Party fails or declines to assume the defense of any such claim within **** after notice
thereof, the Indemnified Party may assume the defense of such claim at the cost and risk of the Indemnifying Party, and any Third Party Liabilities related thereto shall be deemed a Third Party Liability of the Indemnifying Party. The
indemnification rights of a Indemnified Party contained in this Agreement are in addition to all other rights that such Indemnified Party may have at law or in equity or otherwise. The Indemnified Party shall not be permitted to settle or compromise
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that imposes any restrictions or obligations on any Indemnified Party without the Indemnified Party’s prior written consent. 

9.5 The Licensee’s Insurance. 

9.5.1 Throughout the Term, or during such other period as the parties agree in writing, the Licensee shall maintain, and shall cause each
sublicensee to maintain, in full force and effect comprehensive general liability (“CGL”) insurance, with single claim limits in amounts that are reasonable and customary in the U.S. pharmaceutical industry. Such insurance policy shall
include coverage for claims that are subject to indemnification of the University by the Licensee under section 9.2 and for claims by a Third Party against the Licensee or the University arising out of the purchase or use of a Licensed Product. Upon
receipt of the University’s written request, the Licensee shall deliver to the University a copy of the certificate of insurance for such policy. 

9.5.2 The provisions of subsection 9.5.1 do not apply if the University agrees in writing to accept the Licensee’s or a
sublicensee’s, as the case may be, self-insurance plan as adequate insurance. 
 9.6 Sublicensees - Indemnification. The
Licensee shall cause each sublicensee to grant the University a release under terms substantially similar to the release by the Licensee in section 9.1 and to indemnify the University under terms substantially similar to the indemnification by the
Licensee in section 9.2. 
 10. Warranties. 

10.1 Authority. Each party represents and warrants to the other party, as of the Effective Date, that it has full corporate power and
authority to execute, deliver, and perform this Agreement, and that no other corporate proceedings by such party are necessary to authorize the party’s execution or delivery of this Agreement. Furthermore, the University represents and warrants
to the Licensee, as of the Effective Date that (a) the University owns the Licensed Patents, Licensed Patent Applications and Licensed Technology; (b) the University inventors listed on the pending patent application(s) described in
section 5.2 of the EPLA have assigned to the University their ownership interests in such patent application and the inventions claimed therein; and (c) the Office for Technology Commercialization has not entered into any agreement, or granted
any rights to any person, that conflicts with the rights granted to the Licensee under this Agreement. 
 10.2 Disclaimers. 

10.2.1 EXCEPT FOR THE EXPRESS WARRANTY SET FORTH ABOVE IN SECTION 10.1, EACH OF THE UNIVERSITY AND THE LICENSEE DISCLAIMS AND EXCLUDES
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 WARRANTIES, EXPRESS AND IMPLIED, CONCERNING THE LICENSED TECHNOLOGY, EACH LICENSED PATENT, EACH LICENSED
PATENT APPLICATION, AND EACH LICENSED PRODUCT, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF NON-INFRINGEMENT, OF MERCHANTABILITY AND OF FITNESS FOR A PARTICULAR PURPOSE. 

10.2.2 The University expressly disclaims any warranties concerning and makes no representations: 

 

	 	(i)	that the Licensed Patent Applications will be allowed or granted or that a patent will issue from any Licensed Patent Application; 

  

	 	(ii)	concerning the validity, enforceability, interpretation of claims or scope of any Licensed Patent; or 

  

	 	(iii)	that the exercise of the rights or licenses granted to the Licensee under this Agreement will not infringe a Third Party’s patent or violate its intellectual property rights. 

10.3 Sublicensees - Warranties. The Licensee shall cause each sublicensee to acknowledge the University’s disclaimers and
exclusions of warranties substantially similar to the University’s disclaimers and exclusions of warranties in subsections 10.2,1 and 10.2,2. 
 11.
Damages. 
 11.1 Remedy Limitation. EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, NEITHER THE UNIVERSITY NOR THE
LICENSEE SHALL BE LIABLE FOR LOST PROFITS, LOST BUSINESS OPPORTUNITY, INVENTORY LOSS, WORK STOPPAGE, LOST DATA OR ANY OTHER RELIANCE OR EXPECTANCY, INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, OF ANY KIND; PROVIDED THAT NOTHING IN THIS
SECTION 11.1 IS INTENDED TO LIMIT OR RESTRICT THE INDEMNIFICATION RIGHTS OR OBLIGATIONS OF EITHER PARTY UNDER SECTION 9 OR TO LIMIT A PARTY’S LIABILITY FOR BREACHES OF ITS OBLIGATION REGARDING CONFIDENTIALITY UNDER SECTION 12.1.2.
NOTWITHSTANDING THE FOREGOING, THE TOTAL LIABILITY OF THE UNIVERSITY FOR THE BREACH OR NONPERFORMANCE OF THIS AGREEMENT SHALL NOT EXCEED THE AMOUNT OF PAYMENTS PAID TO THE UNIVERSITY UNDER SECTIONS 6.1 AND 6.4 (INCLUDING ALL PAYMENTS DESCRIBED IN
SECTIONS 11.1, 11.2, 11.3, 11.4, 11.5 AND 11.7 OF THE EPLA). THIS LIMITATION APPLIES TO CONTRACT, TORT, AND ANY OTHER CLAIM OF WHATEVER NATURE. 

11.2 Sublicensees - Damages. The Licensee shall cause each sublicensee to agree to limitations of remedies and damages substantially
similar to the limitations of remedies and damages set forth in section 11.1. 
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 12.1 Access to University Information. 

12.1.1 Data Practices Act. The parties acknowledge that the University is subject to the terms and provisions of the Minnesota
Government Data Practices Act, Minnesota Statutes §13.01 et seq. (the “Act”), and that the Act requires, with certain exceptions, the University to permit the public to inspect and copy any information that the University collects,
creates, receives, maintains, or disseminates. 
 12.1.2 Confidentiality. To the extent permitted by law, including as provided in
the Act, the University shall hold in confidence, disclose only to **** who need to know, and only use for purpose of this Agreement the copies of sublicense agreements provided to the University pursuant to section 3.1.2, the reports described in
sections 5.4 and 6.4, the records inspected in accordance with section 6.5, the notices and information shared pursuant to sections 7.1 and 7,2, the Licensee’s insurance certificates pursuant to section 9.5, and notices provided pursuant to
Section 12.5. No provision of this Agreement is to be construed to further prohibit, limit, or condition the University’s right to use and disclose any information in connection with enforcing this Agreement, in court or elsewhere. 

12.2 Amendment and Waiver. The Agreement may be amended from time to time only by a written instrument signed by the parties. No term
or provision of this Agreement may be waived and no breach excused unless such waiver or consent is in writing and signed by the party claimed to have waived or consented. No waiver of a breach is to be deemed a waiver of a different or subsequent
breach. 
 12.3 Applicable Law and Forum Selection. The internal laws of the state of Minnesota, without giving effect to its
conflict of laws principles, govern the validity, construction, and enforceability of this Agreement. A suit, claim, or other action to enforce the terms of this Agreement may be brought only in the state courts of Hennepin County, Minnesota. The
Licensee hereby submits to the jurisdiction of that court and waives any objections it may have to that court asserting jurisdiction over the Licensee or its assets and property. 

12.4 Assignment and Sublicense. Except as permitted under subsection 3.1.2 and section 12.5, the Licensee shall not assign or
sublicense its interest or delegate its duties under this Agreement, without the prior written consent of the University. Any assignment, sublicense, or delegation attempted to be made in violation of this section is void. Absent the consent of all
the parties, an assignment or delegation will not release the assigning or delegating party from its obligations. The Agreement inures to the benefit of the Licensee and the University and their respective permitted sublicensees and trustees. 

  
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 12.5 Change of Control. Notwithstanding section 12.4, the Licensee, without the prior
written consent of the University, may assign this Agreement as follows: 
 12.5.1 The Licensee may assign any or all of its rights and
delegate any or all its duties under this Agreement to any Affiliate if the Licensee delivers to the University written notice of the assignment (along with pertinent information about the terms of the assignment and assignee) no later than ****
after the effective date of such assignment; and 
 12.5.2 The Licensee may assign all, but no less than all, its rights and delegate all
its duties under this Agreement to a Third Party if (i) the Licensee delivers to the University written notice of the proposed assignment (along with pertinent information about the terms of the assignment and assignee) no later than **** after
the effective date of the event described in part iii of this paragraph, (ii) pay to the University the Transfer Payment within such **** period, and (iii) the assignment is made as a part of and in connection with (a) the sale, in
one or a series of related transactions, by the Licensee of all or substantially all of its assets related to this Agreement, (b) the sale, transfer, or exchange, in one or a series of related transactions, by the shareholders, partners, or
equity owners of the Licensee of a majority interest in the Licensee to a purchaser(s), or (c) the merger, consolidation, or reorganization, in one or a series of related transactions, of the Licensee into or with another corporation or other
business entity. 
 Any assignment attempted to be made or made in violation of this subsection is void. 

12.6 Collection Costs and Attorneys’ Fees. If a party materially fails to perform an obligation or otherwise materially breaches
one or more of the terms of this Agreement, the other party may recover from the non-performing breaching party all its reasonable costs (including actual attorneys’ and investigative fees) to enforce the terms of this Agreement. 

12.7 Consent and Approvals. Except as otherwise expressly provided, in order to be effective, all consents or approvals required under
this Agreement must be in writing. 
 12.8 Construction. The headings preceding and labeling the sections of this Agreement are for
the purpose of identification only and are not to be employed or used for the purpose of construction or interpretation of any portion of this Agreement. As used herein and where necessary, the singular includes the plural and vice versa, and
masculine, feminine, and neuter expressions are interchangeable. 
 12.9 Enforceability. If a court of competent jurisdiction
adjudges a provision of this Agreement to be unenforceable, invalid, or void, such determination is not to be construed as impairing the enforceability of any of the remaining provisions hereof and such provisions will

  
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remain in full force and effect, unless the unenforceable, invalid or void provision is of such essential importance to this Agreement that it is to be reasonably assumed that the parties would
not have entered into this Agreement without the unenforceable, invalid or void provision. 
 12.10 Entire Agreement. The parties
intend this Agreement (including both the EPLA and these Terms and Conditions and al! attachments, exhibits, and amendments hereto) to be the final and binding expression of their contract and agreement and the complete and exclusive statement of
the terms thereof. The Agreement cancels, supersedes, and revokes all prior negotiations, representations and agreements among the parties, whether oral or written, relating to the subject matter of this Agreement. 

12.11 Language and Currency. Unless otherwise expressly provided in this Agreement and in order to be effective, all notices, reports,
and other documents and instruments that a party elects or is required to deliver to the other party must be in English, and all notices, reports, and other documents and instruments detailing revenues under this Agreement or expenses chargeable to
a party must be United States dollar denominated, 
 12.12 No Third-Party Beneficiaries. No provision of this Agreement, express or
implied, is intended to confer upon any person other than the parties to this Agreement any rights, remedies, obligations, or liabilities hereunder. No sublicensee may enforce or seek damages under this Agreement. 

12.13 Notices. In order to be effective, all notices, requests, and other communications that a party is required or elects to deliver
must be in writing and must be delivered personally, or by facsimile or electronic mail (provided such delivery is confirmed), or by a recognized overnight courier service or by United States mail, first-class, certified or registered, postage
prepaid, return receipt requested, to the other party at its address set forth below or to such other address as such party may designate by notice given under this section: 
  

			
	If to the University:	  	 University of Minnesota
 Office for
Technology Commercialization
 200 Oak Street, SE
 Suite 280

Minneapolis, MN 55455
 Phone: 612.624.0550

Fax: 612.624.6554
 E-mail: otcagree@umn.edu

  
 A-20 

 CONFIDENTIAL TREATMENT REQUESTED 

 

			
	For notices sent under section 8, with a copy to:	  	 University of Minnesota
 Office of the
General Counsel
 Attn: Transactional Law Services
 360 McNamara
Alumni Center
 200 Oak Street S.E.
 Minneapolis, MN
55455-2006
 Facsimile No.: 612.626.9624
 E-mail:
contracts@mail.ogc.umn.edu

		
	If to the Licensee:	  	As indicated in section 12 of the EPLA.

 Notices will be deemed to have been given as of the date received. 

12.14 Relationship of Parties. In entering into, and performing their duties under this Agreement, the parties are acting as
independent contractors and independent employers. No provision of this Agreement creates or is to be construed as creating a partnership, joint venture, or agency relationship between the parties. No party has the authority to act for or bind the
other party in any respect. 
 12.15 Survival. Immediately upon the termination or expiration of this Agreement, except for certain
rights granted for the Post-termination Period or certain rights that survive expiration as provided in section 2, all the Licensee’s rights under this Agreement terminate; provided, however, either party’s obligations that have accrued
before the effective date of termination or expiration (e.g., the Licensee’s obligation to report and make payments on sales, leases, or dispositions of Licensed Products and to reimburse the University for costs) survive. The obligations and
rights set forth in sections 6.4, 8.3, and 8.4 and sections 9, 10, 11, and 12 also survive the termination or expiration of this Agreement. 

  
 A-21 

 CONFIDENTIAL TREATMENT REQUESTED 

 

 Schedule 1 

Form of Sales Report 
  

					
	License Number :	  	 A20150121
  
	  	
	Enter Reporting Period:    	  	 	  	Report Date:

 This report must be submitted regardless of whether royalties are owed. State all information requested below - do not leave
either column blank, Please reference the UM Case # on all royalty payments. 
  

									
	 UM Case #
	  	 Product Description
	  	Royalty Rate	 	Quantity/
Net Sales	  	Royalty Due
	 ****
	  		  	****	 		  	
		  		  		 		  	
		  		  		 		  	
		  		  		 		  	
		  		  		 		  	
		  		  		 		  	

 Total Royalties Due: US$         

 

			
	Report Completed by:	  	REGENXBIO Inc.
		  	1701 Pennsylvania Avenue, NW
		  	Suite 900
		  	Washington, DC 20006

  
 Schedule 1-1 

 

	****	CERTAIN INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED
PORTIONS.EX-10.27

 Exhibit 10.27 

CONFIDENTIAL TREATMENT REQUESTED 

DEVELOPMENT, MANUFACTURING, AND TESTING STANDARD TERMS AND CONDITIONS 

This Development, Manufacturing and Testing Standard Terms and Conditions together with any Work Orders attached hereto is made and entered
into as of April 3, 2015 (Effective Date) by and between WuXi AppTec, Inc., a corporation organized under the laws of Delaware (“WuXi AppTec”), and REGENXBIO Inc., a corporation organized under the laws of Delaware (Customer),
Customer and WuXi AppTec are referred to herein individually as a “Party” and collectively as the “Parties”. 
 The Parties agree as
follows: 
  

	 	1.	Definitions 

 1.1 Defined Terms. The following terms (whether or not underscored)
when used in this Agreement, shall, except where the context otherwise requires, have the following meanings: 
 1.1.1
“Affiliate” means any company, partnership or other entity which directly or indirectly controls, Is controlled by or is under common control with the relevant party to this Agreement. “Control” means the ownership of at
least fifty per cent (50%) of the equity of the entity or the legal power to direct the general management and policies of the entity. 

1.1.2 “Agreement’ means these Terms and Conditions together with an applicable work order. 

1.1.3 “Batch” means the total Product obtained from one run for cell growth at scale from cell culture flasks, hyperstacks,
bioreactor or other device and associated purification using the Process and carried out in accordance with cGMP or non cGMP if so identified in the Work Order. 

1.1.4 “Cell Line” means the cell line used to produce Product, particulars of which are set out in Work Orders. 

1.1.5 “Certificate of Analysis” means a certificate of analysis as to testing of Specifications of any Product in form and
substance agreed to by WuXi AppTec and Customer, 
 1.1.6 “cGMP” means current Good Manufacturing Practices and General
Biologics Products Standards as promulgated under the US Federal Food Drug and Cosmetic Act at 21 CFR (Chapters 210, 211, 600 and 610), the Guide to Good Manufacturing Practices for Medicinal Products as promulgated under European Directive
91/356/EEC and ICH Guidance Q7A (Good Manufacturing Practice Guidance for Active Pharmaceutical Ingredients. WuXi AppTec’s operational quality standards are defined in internal GMP policy documents. 

1.1.7 “cGMP Product” means Product which may be required under Work Orders to be manufactured in accordance with cGMP. 

1.1.8 “Customer” means REGENXBIO Inc., Inc. and its successors and assigns. 

1.1.9 “Customer Information” means all technical and other information from time to time supplied by Customer to WuXi
AppTec, which at the time of supply by Customer is not (i) already in the public domain or (ii) already known by WuXi AppTec at the time of disclosure as established by written records. 

  
 1 

 CONFIDENTIAL TREATMENT REQUESTED 

1.1.10 “Customer Know-How” means all technical and other information relating to the Product or the Process known to
Customer from time to time other than WuXi AppTec Know-How and information in the public domain. 
 1.1.11 “Customer
Materials” means the materials supplied by Customer to WuXi AppTec and identified as such in Work Orders hereto. 
 1.1.12
“Customer Patent Rights” means all patents and patent applications of any kind throughout the world that are necessary or useful in performance of the Services, or related to the Products or the Process, which from time to time
Customer is the owner of or is entitled to use. 
 1.1.13 “Deliver,” “Delivered” or
“Delivery” has the meaning ascribed to it by Section 5.1. 
 1.1.14 “Price” means the price
specified in Work Orders for the Services. 
 1.1.15 “Process” means the process for the production and purification of
the Product from the Cell Line and the virus bank or plasmids to generate viral or vector product(s), including any improvements or modifications thereto from time to time. 

1.1.16 “Product” means all or any part of the product manufactured (including any sample thereof), particulars of which are
set out in Work Orders and includes all derivatives thereof. 
 1.1.17 “Services” means all or any part of the services
that are the subject of the Agreement, particulars of which are set out in Work Orders. 
 1.1.18 “Specification” means
the specification for Product or Services, as applicable, particulars of which are set out in Work Orders. 
 1.1.19 “Terms of
Payment” means the terms of payment specified in Work Orders. 
 1.1.20 “Testing Laboratories” means any third
party instructed to carry out tests on the Cell Line or the Product 
 1.1.21 “Work Order” means any such appendix to this
Agreement specifying Services. Work Order(s) shall be attached to this Agreement and shall when approved in writing by both Parties be deemed an integral part hereof. Work Order(s) may be updated from time to time by mutual agreement. 

1.1.22 “WuXi AppTec” means WuXi AppTec, Inc. and its successors and assigns. 

1.1.23 “‘WuXi AppTec Know-How” means all technical and other information and materials, ideas, concepts, methods,
procedures, designs, documents, data, inventions, discoveries and works of authorship (in each case, whether or not patentable) known to WuXi AppTec from time to time other than confidential Customer Information and information in the public domain.

 1.1.24 “WuXi AppTec Patent Rights” means all patents and patent applications of any kind throughout the world relating
to WuXi AppTec Know-How or to the Process which from time to time WuXi AppTec is the owner of or is entitled to use 
 1.2 Use of
Definitions. Unless the context requires otherwise, words and phrases defined in any other part of the Agreement shall bear the same meanings in these Standard Terms and 

  
 2 

 CONFIDENTIAL TREATMENT REQUESTED 

Conditions, references to the singular number include the plural and vice versa, references to Work Orders are references to work orders to the Agreement, and
references to Sections are references to sections of these Standard Terms and Conditions. 
 1.3 Conflicting Definitions. In the
event of a conflict between a term in any executed Work Order or any supplemental or additional term agreed to in writing from time to time between the parties and these Standard Terms and Conditions, any Work Order and any supplemental or
additional term agreed to in writing after the date hereof shall prevail. 
  

	 	2.	Applicability of Standard Terms and Conditions 

 These Terms and Conditions will not be
effective until it (or a counterpart of it) has been signed on behalf of both Parties. Customer and WuXi AppTec must complete and execute a Work Order before Services are provided. Each Work Order will include information relating to the specific
Services agreed to by the Parties and price for Services. Once signed, a Work Order becomes a part of the Agreement, although the terms in a Work Order will govern only Services described in that Work Order. To initiate the provision of Services
under a Work Order, Customer must issue a purchase order. Neither a Work Order nor a purchase order will change any term in the Agreement. In the event of any inconsistency between the Agreement and any Work Order, the Agreement will prevail. No
variation of or addition to the Agreement or any part thereof shall be effective unless in writing and signed on behalf of both Parties. Notwithstanding the above, the Parties hereby confirm that amendments to the Specification shall be effective if
reduced to writing and signed by the quality and/or regulatory representative of both Parties, which quality and/or regulatory representative shall be nominated from time to time by each Party. Any such amendments to Specifications must also
reflect, in writing, any corresponding changes to the timing of the Services and any changes to the Pricing detailed in the applicable Work Order. 
  

	 	3.	Representations and Warranties 

 3.1 WuXi AppTec Warranties. WuXi AppTec
represents and warrants that: 
 3.1.1 The Services will be performed in accordance with the Terms and Conditions of this Agreement; 

3.1.2 It will use reasonable endeavors to keep the Cell Line and virus/vector plasmids or banks (if applicable) and/or other Customer
Materials and/or the Customer Know-How secure and safe from loss and damage in such manner as WuXi AppTec stores its own material of similar nature; 

3.1.3 It will not part with possession of the. Cell Line and virus/vector plasmids or banks (if applicable) and/or other Customer Materials
or the Product, save for the purpose of tests at any third party Testing Laboratories that may be required and only with Customer’s written permission; and 

3.1.4 It will use only Testing Laboratories bound to obligations of confidence substantially similar to those obligations of confidence
imposed on WuXi AppTec under these Standard Terms and Conditions. 
 3.1.5 Subject to Section 13, unencumbered title to Product will
be conveyed to Customer upon Delivery; 
 3.1.6 As of the date of this Agreement, to the best of WuXi AppTec’s knowledge without
independent investigation, the WuXi AppTec Patent Rights and the WuXi AppTec Know-How are owned by WuXi AppTec or WuXi AppTec is otherwise entitled to use them for the purposes of providing Services under this Agreement and during the term of this
Agreement, WuXi 

  
 3 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 AppTec shall not do or cause anything to be done which would adversely affect their
ownership or entitlement to use the same for those purposes; 
 3.1.7 WuXi AppTec has the necessary corporate authorizations to enter into
this Agreement; 
 3.1.8 As of the date of this Agreement to the best of WuXi AppTec’s knowledge without independent investigation,
the use by WuXi AppTec of the Process (excluding any modifications or steps made or developed by Customer, Customer Materials, Customer Information and Customer Patent Rights) and WuXi AppTec Patent Rights and WuXi AppTec Know-How for the
performance of the Services as provided herein will not infringe any rights (including without limitation any intellectual or industrial property rights) vested in any third party; 

3.1.9 WuXi AppTec will notify Customer in writing immediately if it receives or is notified of a claim from a third party that the use by
WuXi AppTec of the Process and/or the WuXi AppTec Know-How or the WuXi AppTec Patents Rights for Services infringes any intellectual property rights vested in such third party; 

3.2 DISCLAIMER. SECTION 3.1 IS IN LIEU OF ALL CONDITIONS, WARRANTIES AND STATEMENTS IN RESPECT OF THE SERVICES AND/OR THE PRODUCT WHETHER
EXPRESSED OR IMPLIED BY STATUTE, CUSTOM OF THE TRADE OR OTHERWISE (INCLUDING BUT WITHOUT LIMITATION ANY SUCH CONDITION, WARRANTY OR STATEMENT RELATING TO THE DESCRIPTION OR QUALITY OF THE PRODUCT, ITS FITNESS OR SUITABILITY FOR A PARTICULAR PURPOSE
OR USE UNDER ANY CONDITIONS WHETHER OR NOT KNOWN TO WUXI APPTEC) AND ANY SUCH CONDITION, WARRANTY OR STATEMENT IS HEREBY EXCLUDED AND DISCLAIMED. 

3.3 Representations and Warranties of Customer. Customer represents and warrants to WuXi AppTec that: 

3.3.1 Customer shall supply to WuXi AppTec the Customer Information, together with full details of any hazards relating to the Cell Line and
virus/vector plasmids or banks (if applicable) and/or other Customer Materials, their storage and use. Upon review of this Customer Information, the Cell Line and virus/vector plasmids or banks (if applicable) and/or other Customer Materials and/or
the Customer Know-How will be provided to WuXi AppTec at WuXi AppTec’s reasonable request. The Cell Line Line and virus/vector plasmids or banks (if applicable) and/or other Customer Materials and/or the Customer Information and/or the Customer
Know-How supplied to WuXi AppTec will remain the property of Customer. 
 3.3.2 Customer hereby grants WuXi AppTec the non-exclusive right
to use the Cell Line, the virus/vector plasmids or banks (if applicable) and/or other Customer Materials, the Customer Know-How and the Customer Information for the purpose of the Agreement. WuXi AppTec hereby undertakes not to use the Cell Line,
virus/vector plasmids or banks (if applicable) and/or other Customer Materials, the Customer Know-How or the Customer Information (or any part thereof) for any other purpose. 

3.3.3 Customer has the necessary corporate authority to enter into this Agreement; 

3.3.4 To Customer’s knowledge without independent investigation, as of the date of this Agreement, Customer has the right to supply the
Cell Line, and virus/vector plasmids or banks (if applicable) and/or other Customer Materials and the Customer Information to WuXi AppTec and the necessary rights to license or permit WuXi AppTec to use the same for the purpose of the Services; and
Customer shall not do or cause anything to be done which would adversely affect their ownership or entitlement to use the same for those purposes; 

  
 4 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 3.3.5 To Customer’s knowledge and belief without independent
investigation, as of the date of this Agreement, the use by WuXi AppTec of the Cell Line, virus/vector plasmids or banks (if applicable) and/or other Customer Materials, Customer Information and Customer Patent Rights for the Services (including
without limitation the manufacture of the Product) will not infringe any intellectual property rights of any third party; and Customer shall not do or cause anything to be done which would adversely affect such use; 

3.3.6 Customer will promptly notify WuXi AppTec in writing if it receives or is notified of a claim from a third party that the Cell Line,
and virus/vector plasmids or banks (if applicable) and/or other Customer Materials, Customer Information or the Customer Patent Rights or that the-use by WuXi AppTec thereof for the provision of the Services infringes any intellectual property
rights of such third party; 
  

	 	4.	Provision of the Services 

 4.1 Services. WuXi AppTec shall carry out the Services
as provided in applicable Work Orders and shall use reasonable efforts to achieve the estimated time schedule thereto or as agreed to by the Parties. 

4.2 Specification. Specifications will be agreed to by the Parties prior to initiation of a manufacturing run or other Services, as
appropriate. 
 4.3 Time Limitations. Due to the unpredictable nature of the technical transfer, Process development and assay
development Services the time schedule set down for the performance of these Services is estimated only. Upon completion or near completion of these Services the project teams will work to finalize the pilot or engineering and cGMP manufacturing
schedules. 
  

	 	5.	Delivery, Transportation of Product 

 5.1 Delivery. Product will be delivered Ex
Works WuXi AppTec premises which means (a) when WuXi AppTec places Product at the disposal of Customer at WuXi AppTec’s premises and (b) risk and title to Product pass to Customer upon delivery (“Deliver,”
“Delivery,” or “Delivered,” as appropriate). Subject to Section 5.2, WuXi AppTec shall deliver to Customer the Certificate of Analysis not later than the date of Delivery. Transportation of Product, whether or not under any
arrangements made by WuXi AppTec on behalf of Customer, shall be made at the sole risk and expense of Customer. 
 5.2 Delivery Without
Certificate of Analysis. At Customer’s request, WuXi AppTec will Deliver Product in quarantine prior to delivery of the Certificate of Analysis. Such request shall be accompanied by Customer’s written acknowledgement that the Product
has been Delivered without the transmittal to Customer of a Certificate of Analysis, that accordingly the Product cannot be administered to humans until transmittal of the Certificate of Analysis, and that Customer nevertheless accepts full risk of
loss, title and ownership of the Product. The Delivery of Product in quarantine will be subject to such testing requirements as WuXi AppTec may reasonably require, and the **** period referred to in Section 5.8 will run from Delivery in
quarantine by Customer of the Product. 
 5.3 Packaging and Labeling. Unless otherwise agreed, WuXi AppTec shall package and label
Product for Delivery in accordance with its standard operating procedures and in accordance with required shipping conditions. It shall be the responsibility of Customer to inform WuXi AppTec in writing in advance of any special packaging and
labeling requirements for Product. All additional costs and expenses of whatever nature incurred by WuXi AppTec in complying with such special requirements must be agreed to in advance in writing and will be charged to Customer in addition to the
Price. 
 5.4 Insurance. If requested in writing by Customer, WuXi AppTec will (acting as agent for Customer) arrange for insurance
of Product while held by WuXi AppTec after Delivery 

  
 5 

 ****CERTAIN INFORMATION HAS BEEN
OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN
REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 (awaiting transportation) for a maximum of **** on terms equivalent to those under which
WuXi AppTec insures product prior to Delivery. Third party expenses incurred by WuXi AppTec in arranging such insurance must be agreed to in advance in writing and will be charged to Customer in addition to the Price. 

5.5 Transportation. If requested in writing by Customer, WuXi AppTec will (acting as agent of Customer for such purpose) arrange the
transportation of Product from WuXi AppTec’s premises to the destination indicated by Customer together with insurance coverage for Product in transit at its invoiced value. All additional costs and expenses of whatever nature incurred by WuXi
AppTec in arranging such transportation and insurance must be agreed to in advance in writing and will be charged to Customer in addition to the Price. 

5.6 Acceptance of Delivery. Where WuXi AppTec has made arrangements for the transportation of Product, Customer shall diligently
examine the Product as soon as practicable after receipt. Notice of all claims (time being of the essence) arising out of: 
 5.6.1 Visible
damage to or total or partial loss of Product in transit will be given in writing to WuXi AppTec and the carrier within **** of receipt by Customer; or 

5.6.2 Non-delivery will be given in writing to WuXi AppTec within **** after the receipt by Customer of WuXi AppTec’s dispatch
notice, 
 5.7 Damage Claims. Customer shall make damaged Product and associated packaging materials available for inspection and
shall comply with the reasonable requirements of any insurance policy covering the Product, for which notification has been given by WuXi AppTec to Customer. WuXi AppTec shall offer Customer all reasonable assistance in pursuing any claims arising
out of the transportation of Product. 
  

	 	6.	Non-Conforming Product or Services 

 6.1 Non-conforming Product. Promptly
following Delivery of Product, Customer may carry out any of the tests outlined or referred to in the Specifications. If such tests show that the Product fails to meet Specification, Customer shall give WuXi AppTec written notice thereof within ****
from the date of Delivery and shall return such Product to WuXi AppTec’s premises, at WuXi AppTec’s expense, for further testing. In the absence of such written notice, Product shall be deemed to have been accepted by Customer as meeting
Specification. If Product returned to WuXi AppTec fails to meet Specification and such failure is due to the negligence of Wuxi AppTec, WuXi AppTec shall refund that part of the Price that relates to the production of such Product or initiate a
manufacturing run to replace such Product at its own cost and expense. 
 6.2 Non-Conforming Testing Services. If, within **** of
receiving a valid result from testing Services, Customer notifies WuXi AppTec in writing that the result is unexpected, WuXi AppTec will initiate a laboratory investigation of the result, The Customer and WuXi AppTec will agree on an appropriate
course of action pending the results of the laboratory investigation. If WuXi AppTec observes an Out Of Specification (OOS) result it will notify Customer as soon as reasonable but in any case within **** of learning of such result. Customer and
WuXi AppTec will agree on the appropriate course of action to investigate the OOS result. If WuXi AppTec determines that an unexpected, invalid, or OOS result is due to the inherent condition of the sample matrix, or to the act, omission, direction,
or negligence of Customer, Customer shall be liable to WuXi AppTec for the price of the Services performed, including any additional testing or retests, and materials, reagents, expenses consumed, employed, or specially obtained during the course of
the laboratory investigation. If the unexpected, invalid, or OOS result was caused by a combination of the inherent property of the sample matrix or the act, omission, direction, or negligence of Customer and WuXi AppTec error, or a reasonable
determination of cause cannot be ascertained, Customer shall be liable for **** of the price of the Services performed, including any additional testing or retests, and **** of the cost of any materials or reagents specially obtained by WuXi AppTec
during the course of the laboratory 

  
 6 

 ****CERTAIN INFORMATION HAS BEEN
OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN
REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 investigation. Customer is not liable to WuXi AppTec for unexpected, invalid, or OOS
results due to WuXi AppTec error and WuXi AppTec shall make a refund of any payments made by Customer for the Services giving rise to the unexpected, invalid, or OOS results. Should Customer request a repeat or retest of such non-conforming Services
Customer shall be liable for the price of a successful repeat or retest of such non-conforming Services. 
  

	 	7.	Records 

 Records of Services are available for Customer review at the WuXi AppTec
facility where the Services were performed. WuXi AppTec will retain batch, laboratory and other technical records (“Records”) of Services for the longer of **** or for the minimum period required by applicable law and consistent with FDA
regulations and guidance relating to the manufacture or testing of products intended to support an application for regulatory approval. To the extent that raw data from Services or descriptions of any of WuXi AppTec’s protocols, test methods,
or SOPS are not included in the Customer-approved protocol Work Order, or Report pertaining to any particular Service and are required by a competent regulatory authority, WuXi AppTec will upon written request by Customer provide a copy of such raw
data or relevant portions of such protocols, test methods, or SOPs to be used solely for purposes of such regulatory submission under the provisions of Confidentiality described in the following section. In the event WuXi AppTec proposes to dispose
of Records WuXi AppTec shall provide Customer written notice thereof. If within **** after such notice Customer requests any Records, WuXi AppTec shall provide to Customer at Customer’s expense such Records rather than disposing thereof. WuXi
AppTec may, however, retain copies of any Records as are reasonably necessary for regulatory or insurance purposes, subject to WuXi AppTec’s obligation of confidentiality. 

 

	 	8.	Price and Terms of Payment 

 8.1 Price. Customer shall pay the Price in accordance
with the Price detailed in Work Orders attached hereto. 
 8.2 Payment. Payment will be made in accordance with Work Orders attached
hereto. Unless otherwise indicated in a Work Order, all prices and charges are exclusive of any applicable taxes, levies, duties and fees of whatever nature imposed by or under the authority of any government or public authority, which shall be paid
by Customer (other than taxes on WuXi AppTec’s income). Payment must be made within **** of receipt by Customer of a correct invoice. Payment shall be made without deduction, deferment, set-off, lien or counterclaim of any nature. 

8.3 Payment Default. In the event of a default of payment on due date: 

8.3.1 Interest shall accrue on any amount overdue at the annual rate of **** above the prime rate of interest published from time to time in
the Wall Street Journal, interest to accrue on a day to day basis both before and after judgment; and 
 8.3.2 WuXi AppTec shall, at its
sole discretion, and without prejudice to any other of its accrued rights, be entitled to suspend the provision of the Services or to treat the Agreement as repudiated on not less than **** prior notice in writing to Customer given at any time after
the due date. 
  

	 	9.	Indemnification and Limitation of Liability 

 9.1 WuXi AppTec Indemnity. WuXi
AppTec shall indemnify and hold Customer harmless against all claims, actions, costs, expenses (including court costs and reasonable attorney’s fees) or other liabilities (collectively, “Losses”) whatsoever to, from or in favor of
third parties, to the extent such Losses are in respect of WuXi AppTec’s ****. 

  
 7 

 ****CERTAIN INFORMATION HAS BEEN
OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN
REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 9.2 Customer Indemnity. Customer shall indemnify and hold WuXi
AppTec harmless against all Losses whatsoever to, from or in favor of third parties, to the extent such Losses are in respect of Customer’s ****. 

9.3 Limitation. Except for the above indemnification obligations, neither Party shall be liable for any penalties, liquidated, special,
consequential, incidental or indirect damages arising out of or in connection with this Agreement (or the termination hereof), including, without limitation, loss of profits or anticipated sales to the fullest extent permitted by law, and the total
liability, in the aggregate, of either Party and its agents to the other Party and anyone claiming by or through the other Party, for any and all claims, losses, costs or damages, including without limitation, attorneys’ fees and costs and
expert-witness fees and costs of any nature whatsoever or claims expenses resulting from or in any way related to this Agreement from any cause or causes shall not exceed the fees paid or owed under this Agreement for the portion of the Services
under which such liability arises. Except as otherwise provided, it is intended that this limitation apply to any and all liability or cause of action however alleged or arising, including without limitation, negligence, professional errors and
omissions, breach of contract, unless otherwise prohibited by law. For the avoidance of doubt, the foregoing shall not limit either Party’s ability to obtain equitable relief of any type. 

9.4 Further Limitation. The obligation of WuXi AppTec under Section 9.1 and Customer under Section 9.2 is limited to **** per
claim, except that this limitation will not apply with respect to any indemnifiable claim arising out of or relating to fraud or willful misconduct by the indemnifying Party under this Agreement Except for claims arising under indemnities contained
herein, any claim must be brought by either Party within **** from the completion of Services under which such claim arises or such claim will be forever barred. 

9.5 Limitation Exception. Nothing contained in these Standard Terms and Conditions shall purport to exclude or restrict any liability
for death or personal injury resulting directly from gross negligence by a Party in carrying out their obligations in breach of the terms of this Agreement. 

9.6 Survival. The obligations of WuXi AppTec and Customer and under this Section 9 shall survive the termination or expiration of
this Agreement. 
  

	 	10.	Confidentiality 

 10.1 Confidential Information. The Parties will exchange
proprietary and confidential information during the term of this Agreement, including without limitation, the existence and terms of this Agreement. The parties will identify, in writing, such information as confidential and/or proprietary.
Notwithstanding the foregoing, Customer Confidential Information will also include Customer Information, Customer Materials, and Customer Know-How, and WuXi AppTec Confidential Information will include WuXi AppTec Know-How, development and
manufacturing processing know-how, study designs, pricing information, and test protocols. Customer acknowledges that WuXi AppTec Confidential Information and WuXi AppTec acknowledges that Customer Confidential Information, with which it is supplied
by the other pursuant to the Agreement is supplied subject to Sections 10.5 and 10.6 in circumstances imparting an obligation of confidence. Each Party agrees to keep the other Party’s confidential information secret and confidential and to
respect the other’s proprietary rights therein and not at any time for any reason whatsoever to disclose or permit the other party’s confidential information to be disclosed to any third party save as expressly provided herein. 

10.2 Obligations of Confidentiality. Customer and WuXi AppTec shall each cause all their respective employees, consultants, contractors
and persons for whom it is responsible having access to WuXi AppTec Confidential Information or Customer Confidential Information to be subject to the same obligations of confidence as Customer and WuXi AppTec pursuant to Sections 10.1 and 10.3 and
shall be bound by confidentiality agreements in support of such obligations. WuXi AppTec and 

  
 8 

 ****CERTAIN INFORMATION HAS BEEN
OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN
REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 Customer each undertake not to disclose or permit to be disclosed to any third party, or
otherwise make use of or permit to be made use of (a) any trade secrets or confidential information relating to the technology, business affairs or finances of the other, any subsidiary, holding company or subsidiary or any such holding company
of the other, or of any suppliers, agents, distributors, licensees or other customers of the other which comes into its possession under this Agreement, or (b) the commercial terms of this Agreement; except to the extent that the same is
required to be disclosed pursuant tosubpoena, court order, judicial process or otherwise by law, provided the receiving party provides prompt notice to the disclosing Party of such requirement in order to give the disclosing party an opportunity to
timely seek a protective order or other appropriate judicial relief. In the event the disclosing Party is unable to obtain a protective order or other appropriate judicial relief, the receiving party shall disclose only that portion of the
disclosing Party’s confidential information which is legally required to be disclosed, and that the disclosing party shall be given an opportunity to review the confidential information prior to its disclosure. 

10.3 Limitations. The obligations of confidentiality referred to in this Section 9 shall not extend to any information which: 

10.3.1 Is or becomes generally available to the public otherwise than by reason of a breach by the recipient Party of the provisions of this
Section 10; 
 10.3.2 Is known to the receiving Party and is at its free disposal prior to its receipt from he disclosing Party, as
established by written records; 
 10.3.3 Is subsequently disclosed to the receiving Party without being made subject to an obligation of
confidence by a third party, as established by written records; 
 10.3.4 Is required to be disclosed by WuXi AppTec or Customer under any
statutory, regulatory or similar legislative requirement, subject to the imposition of obligations of confidentiality wherever possible in that relation; or 

10.3.5 Is developed by any servant or agent of the recipient Party without access to or use or knowledge of the information by the disclosing
party, as established by written records. 
 10.4 Remedies. Without prejudice to any other rights and remedies that the Parties may
have, the Parties agree that the confidential information is valuable and that damages may not be an adequate remedy for any breach of the provisions of Sections 10.1, 10.2, or 10.3. The Parties agree that the relevant party will be entitled without
proof of special damage to seek the remedies of an injunction and other equitable relief for any actual or threatened breach by the other Party, 

10.5 WuXi AppTec Confidential Information. Customer acknowledges that Customer shall not at any time have any right, title, license or
interest in or to WuXi AppTec Confidential Information the WuXi AppTec Patent Rights or any other intellectual property rights relating to the Services which are vested in WuXi AppTec or to which WuXi AppTec is otherwise entitled. 

10.6 Customer Confidential Information. WuXi AppTec acknowledges that save as provided herein WuXi AppTec shall not at any time have
any right, title, license or interest in or to the Customer Confidential Information, Customer Patent Rights, Customer Know-How, or any other intellectual property rights vested in Customer or to which Customer is entitled. 

10.7 Survival. The obligations of WuXi AppTec and Customer under this Section 10 shall survive the termination or expiration of
this Agreement. 
  

	 	11.	Term and Termination 

  
 9 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 11.1 Term. This Agreement will expire on the later of
(a) two (2) years from the Effective Date or (b) the completion of all Services under the last Work Order executed by the Parties prior to the second anniversary of the Effective Date. The Agreement may be extended by mutual agreement
of the parties or earlier terminated in accordance with Section 11.2. or 11.3. 
 11.2 Termination without Cause. 

11.2.1 Customer may in its sole discretion terminate this Agreement or Work Order at any time for any reason or no reason by giving not less
than sixty (60) days notice in writing to WuXi AppTec. In the event of termination pursuant to this Section 10.2.1 Customer shall pay WuXi AppTec for Services performed up to the date of termination, and any applicable cancellation fees that
the Parties have agreed to in the applicable Statement of Work. In addition, Customer shall reimburse WuXi AppTec for expenses incurred or irrevocably committed to third parties in accordance with this Agreement and the Price for any cell banks,
toxicology studies, or manufacturing Batches that are in-progress. 
 11.2.2 WuXi AppTec may in its sole discretion terminate this
Agreement or any Work Order at any time for any reason or no reason by giving not less than ninety (90) days notice in writing to Customer. During such notice period, WuXi AppTec shall continue all work in progress and both Parties shall remain
liable to each other for their respective obligations under this Agreement. In the event of termination pursuant to this Section 11.2.2 Customer shall pay WuXi AppTec for Services performed and for expenses incurred or irrevocably committed to
third parties. 
 11.3 Termination for Cause. WuXi AppTec and Customer may each terminate the Agreement forthwith by notice in
writing to the other upon the occurrence of any of the following events: 
 11.3.1 If the other commits a material breach of the Agreement
which in the case of a breach capable of remedy is not remedied to the reasonable satisfaction of the non-breaching Party within forty-five (45) days of the receipt by the other of written notice identifying the breach and requiring its remedy; or

 11.3.2 Any party may terminate this Agreement at any time by giving notice in writing to the other party, if the other party files a
petition of any type as to its bankruptcy, is declared bankrupt, becomes insolvent makes an assignment for the benefit of creditors, goes into liquidation or receivership, otherwise loses legal control of its business or ceases to carry on its
business. 
 11.4 Rights and Obligations upon Termination. Upon the termination of the Agreement for whatever reason: 

11.4.1 Subject to Section 7, WuXi AppTec shall promptly return to Customer all Customer Know-How, Customer Information and shall dispose
of or return to Customer the Customer Materials (and where supplied by Customer the Cell Line) and any materials therefrom, as directed by Customer; 

11.4.2 Customer shall promptly return to WuXi AppTec all WuXi AppTec Know-How and WuXi AppTec Confidential Information it has received from
WuXi AppTec; 
 11.4.3 Customer shall not thereafter use or exploit WuXi AppTec Confidential Information, the WuXi AppTec Patent Rights or
the WuXi AppTec Know-How in any way whatsoever; 
 11.4.4 WuXi AppTec shall not thereafter use or exploit the Customer Patent Rights,
Customer Know-How or the Customer Information in any way whatsoever; 
 11.4.5 WuXi AppTec and Customer shall do all such acts and things
and shall sign and execute all such deeds and documents as the other may reasonably require to evidence compliance with this Section 10.4. 

  
 10 

 ****CERTAIN INFORMATION HAS BEEN
OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN
REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 
  

	 	12.	Force Majeure 

 12.1 Force Majeure Rights. If either Party is prevented or delayed
in the performance of any of its obligations under the Agreement by Force Majeure such Party shall give written notice thereof to the other Party specifying the matters constituting Force Majeure together with such evidence as reasonably can give
and specifying the period for which it is estimated that such prevention or delay will continue, the Party claiming Force Majeure shall be excused from the performance or the punctual performance of such obligations as the case may be from the date
of such notice for so long as such cause of prevention or delay shall continue. Notwithstanding the foregoing, if the Party claiming Force Majeure estimates that the delay will exceed ****, or if the delay has, in fact, exceeded ****, the other
Party may terminate this Agreement for cause as set forth in Section 9.3, including an additional **** notice to remedy the breach, 

12.2 Force Majeure Definition. The expression “Force Majeure” shall be deemed to include any cause affecting the performance
by either Party of the Agreement arising from or attributable to acts, events, acts of God, omissions or accidents beyond the reasonable control of the Party claiming the Force Majeure. 

 

	 	13.	Inventions. 

 13.1 All information, data and writings provided to WuXi AppTec by and/or
on behalf of Customer in connection with this Agreement, including Customer Know-How, Customer Information, Customer Patent Rights, and Customer Materials which were owned by or licensed to Customer prior to being provided to WuXi AppTec, shall
remain the property of Customer (the “Customer Data”). WuXi AppTec shall acquire no right, title or interest in the Customer Data as a result of its performance of the Services. 

13.2 Any and all intellectual property including without limitation WuXi AppTec Patent Rights, WuXi AppTec Know-How, trade secrets, and
proprietary information, whether tangible or intangible, which was in WuXi AppTec ‘s possession on the Effective Date or which is later generated or acquired by WuXi AppTec outside the scope of activities under this Agreement (collectively, the
“WuXi AppTec Property”), shall be the sole and exclusive property of WuXi AppTec, 
 13.3 All information, data, writings,
inventions and other work product, in any form whatsoever, both tangible and intangible, developed as a result of WuXi AppTec’s performance of the Services (collectively, the “Works”), shall be the sole and exclusive property of
Customer. Customer shall be the sole owner of all the rights to such Works in any form and in all fields of use known or hereafter existing. Provided that Customer has fulfilled all of its payment obligations to WuXi AppTec, Customer may transfer
such Works or use the Works for any purpose without further payment to WuXi AppTec. In the event new intellectual property emerges in the course of WuXi AppTec providing services to Customer which do not use or incorporate Customer Data provided by
Customer and is generally valuable to WuXi AppTec in the conduct of its business as a contact service organization, Customer and WuXi AppTec agree that Customer will own such new intellectual property and Customer will hereby grant WuXi AppTec a
non-exclusive, world-wide, fully paid-up, royalty-free, perpetual, irrevocable license to any and all portions of such new intellectual property. 

13.4 Protocols, methods, controls, SOPS, specifications, or documents generally used by WuXi AppTec in the normal course of its business that
are used by WuXi AppTec for Services (collectively, “Service Instruments”) are furnished solely with respect to Services, and WuXi AppTec will retain all common law, statutory, ownership, and other reserved rights in such Service
Instruments. For the avoidance of doubt, Service Instruments does not include Customer-specific batch records, data, reports, or other similar documents containing Customer-specific information produced by WuXi AppTec as a result of Services. 

  
 11 

 ****CERTAIN INFORMATION HAS BEEN
OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN
REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 13.5 Neither Party shall acquire any right, title or interest in any of
the trademarks, service marks or copyrights belonging to the other Party. No right or license, whether express or implied, is granted to one Party by the other Party, except to the extent expressly authorized by this Agreement. 

 

	 	14.	Mediation, Arbitration, Governing Law, Jurisdiction, and Enforceability 

 14.1
Mediation. In the event of any dispute, controversy or claim arising out of or relating to this Agreement, or the breach, termination or invalidity thereof, each Party shall by written notice to the other have the right to have such dispute
referred to the senior management of WuXi AppTec and Customer for attempted resolution by good faith negotiations within **** after such notice is received. If such senior management are unable to resolve such dispute within the **** period, and
before arbitration is initiated, the Parties shall participate in a mediation that will last no less than **** unless the dispute is resolved before such time. Notwithstanding the requirement for the parties to submit to mediation for a minimum of
****, neither party will be required to participate in mediation for longer than ****. Any mediation will take place a mutually agreeable venue, and will be officiated by a mutually agreeable mediator identified and engaged by the Parties, the cost
and fees for whom shall be borne equally by the Parties. In the event the Parties’ efforts to reach an amicable resolution through mediation or other informal means are unsuccessful, either party may invoke the provisions of Section 14.2.
Any settlement reached by the Parties under this Section shall not be binding until reduced to writing and signed by the above-specified management of WuXi AppTec and Customer, When reduced to writing, such agreement shall supersede all other
agreements, written or oral, to the extent such agreements specifically pertain to the matters so settled. 
 14.2 Arbitration. In
the event of the failure to reach a resolution pursuant to Section 14.1, any dispute, controversy or claim arising out of or relating to this Agreement, or the breach, termination or invalidity thereof, shall be finally settled by binding
arbitration in accordance with the complex rules of the Commercial Arbitration Rules of the American Arbitration Association in effect on the date of this Agreement by a panel of three arbitrators who shall be experienced in the biopharmaceutical
industry and who will be appointed in accordance with such rules. The place of arbitration will be Philadelphia, Pennsylvania, and the Parties shall **** filing fees, arbitrator fees or other costs of such proceedings, except that each Party ****
attorney’s fees, and other out-of-pocket arbitration expenses, unless the arbitrators decides otherwise. 
 14.3 Governing Law and
Jurisdiction. The construction, validity and performance of the Agreement shall be governed by the laws of the Commonwealth of Pennsylvania. 

14.4 Waiver. No failure or delay on the part of either WuXi AppTec or Customer to exercise or enforce any rights conferred on it by the
Agreement shall be construed or operate as a waiver thereof nor shall any single or partial exercise of any right, power or privilege or further exercise thereof operate so as to bar the exercise or enforcement thereof at any time or times
thereafter. 
 14.5 Severability. The illegality or invalidity of any provision (or any part thereof) of the Agreement or these
Standard Terms and Conditions shall not affect the legality, validity or enforceability of the remainder of its provisions or the other parts of such provision as the case may be. 

 

	 	15.	Miscellaneous 

 15.1 Assignment. Neither party shall be entitled to assign,
transfer, charge or in any way make over the benefit and/or the burden of this Agreement without the prior written consent of the other which consent shall not be unreasonably withheld or delayed, save that either party shall be entitled without the
prior written consent of the other party to assign, transfer, charge, sub-contract, deal with or in any other manner make over the benefit and/or burden of this Agreement to an Affiliate or to any company with which such assigning party may merge or
to any company to which such assigning party may transfer its assets and undertakings. 

  
 12 

 ****CERTAIN INFORMATION HAS BEEN
OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN
REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 15.2 Press Releases. The text of any press release or other
communication to be published by or in the media concerning the subject matter of the Agreement shall require the prior written approval of WuXi AppTec and Customer. 

15.3 Entire Agreement. The Agreement, the Work Orders attached hereto embody the entire understanding of WuXi AppTec and Customer and
there are no promises, terms, conditions or obligations, oral or written, expressed on implied, other than those contained in the Agreement. The terms of the Agreement shall supersede all previous agreements (if any) which may exist or have existed
between WuXi AppTec and Customer relating to the Services. In the event the Parties desire to enter into a Commercial Manufacturing Agreement with each other, such Commercial Manufacturing Agreement shall be on separate terms and conditions from
this Agreement 
 15.4 No Third Party Beneficiaries. The parties to this Agreement do not intend that any terms hereof should be
enforceable by any person who is not a party to this Agreement. 
 15.5 Counterparts. This Agreement may be executed in two or more
counterparts, and each such counterpart shall be deemed an original thereof. 
 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed by its duly authorized representatives as of the Effective Date. 
  

									
	WuXi AppTec, Inc.	 		 	REGENXBIO Inc.
					
	By:	 	 /s/ W. Alan Moore
	 		 	By:	 	 /s/ Kenneth T. Mills

	Name:	 	W. Alan Moore	 		 	Name:	 	Kenneth T. Mills
	Title:	 	Vice President, Cell Manuf.	 		 	Title:	 	President & CEO
	Date:	 	April 6, 2015	 		 	Date:	 	April 3, 2015

  
 13

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