Document:

EX-10.24

 Exhibit 10.24 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) WOULD
BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. 
 AGREEMENT AND PLAN OF MERGER 

This AGREEMENT AND PLAN OF MERGER
(this “Agreement”), dated as of November 23, 2020, is entered into among (i) ERASCA, INC., a Delaware corporation (“Parent”),
(ii) ERASCA – ASN PRODUCT DEVELOPMENT—MERGER SUB I, INC., a Delaware corporation and direct wholly owned
subsidiary of Parent (“Merger Sub I”), (iii) ERASCA – ASN PRODUCT DEVELOPMENT—MERGER SUB II,
INC., a Delaware corporation and direct wholly owned subsidiary of Parent (“Merger Sub II” and together with Merger Sub I, “Merger Subs”), (iv) ASN PRODUCT
DEVELOPMENT, INC., a Delaware corporation (“Company”), and (v) ASANA BIOSCIENCES, LLC, a
Delaware limited liability company and the sole stockholder of the Company (“ABS”). 
 RECITALS 

A. The parties intend to effect a reorganization in which, as steps in a single, integrated transaction, (a) the First Merger (as defined
below) will be consummated, and (b) as part of the same overall transaction, the First Step Surviving Corporation (as defined below) will be merged with and into Merger Sub II, the First Step Surviving Corporation will cease to exist, and
Merger Sub II will survive as a direct wholly owned subsidiary of Parent (the “Second Merger” and, collectively with the First Merger, the “Merger”). 

B. The board of directors of the Company (the “Company Board”) has unanimously (a) determined that this Agreement and the
transactions contemplated hereby, including the Merger, are in the best interests of the Company and its stockholder, (b) approved and declared advisable this Agreement and the transactions contemplated hereby, including the Merger, and
(c) resolved to recommend adoption of this Agreement by the stockholder of the Company in accordance with the Delaware General Corporation Law (the “DGCL”). 

C. Concurrently with the execution of this Agreement, the Company shall obtain, in accordance with Section 228 of the DGCL, the written
consent of ABS, as the Company’s sole stockholder, approving this Agreement, the Merger and the transactions contemplated hereby in accordance with Section 251 of the DGCL. 

D. The parties intend that the Merger qualify as a “reorganization” within the meaning of Section 368(a) of the Code, and that
this Agreement be a “plan of reorganization” for purposes of Sections 354 and 361 of the Code and within the meaning of Section 1.368-2(g) of the Treasury Regulations. 

NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 ARTICLE I 

Definitions 
 Whenever used
in this Agreement with an initial capital letter, the terms defined in this Article I and elsewhere in this Agreement, whether used in the singular or plural, shall have the meanings specified below. Capitalized terms used, but not defined in
this Article I or elsewhere in this Agreement, whether used in the singular or plural, shall have the meanings ascribed to them in the License Agreement. 

  
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 “ABS” has the meaning set forth in the preamble. 

“ABS Indemnitees” has the meaning set forth in Section 7.03. 

“Action” means any cause of action, demand, order, lawsuit, arbitration, notice of violation, proceeding, litigation,
citation, summons, subpoena or investigation of any nature, civil, criminal, administrative, regulatory or otherwise, whether at law or in equity, of or before any Governmental Authority or before any arbitrator. 

“Affiliate” means, with respect to a Person, any other Person controlling, controlled by or under common control with
such Person, for so long as such control exists. For purposes of this definition only, “control” means (i) direct or indirect ownership of more than fifty percent (50%) of the stock, shares or other equity interests having the right
to vote for the election of directors of such entity or (ii) the possession, directly or indirectly, of the power to direct, or cause the direction of, the management or policies of such entity, whether through the ownership of voting
securities, by contract or otherwise. Notwithstanding the foregoing, with respect to the Company, “Affiliates” will exclude Chirag Patel, Chintu Patel and Gautam Patel (each, a “Majority Investor”) and any other Person
controlled, directly or indirectly, or trust created or controlled, by any Majority Investor or group of Majority Investors, other than ABS. 

“Agreement” has the meaning set forth in the preamble. 

“Ancillary Documents” means the Share Issuance Letter, Certificate of Merger, the Second Certificate of Merger and each of
the other documents or instruments contemplated by this Agreement to be delivered in connection with the Merger. 
 “Applicable
Law” means collectively all laws, regulations, ordinances, decrees, judicial and administrative orders (and any license, franchise, permit or similar right granted under any of the foregoing) and any other requirements of any
applicable Governmental Authority that govern or otherwise apply to a party’s activities in connection with this Agreement. 

“Breakthrough Designation” means the designation of a drug as a breakthrough therapy by the FDA pursuant to
Section 506(a) of the Federal Food Drug and Cosmetic Act (21 U.S.C. §356(a)), as amended by Section 902 of the Food and Drug Administration Safety and Innovation Act and as may be amended further from time to time. 

“Breakthrough Designation Milestone” has the meaning set forth in Section 2.12(a). 

  
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 “Business Day” means a day other than a Saturday, Sunday or any other
day on which banking institutions in New York, New York, U.S.A. are authorized or required by Applicable Laws to remain closed. 

“Certificate” has the meaning set forth in Section 2.09. 

“Certificate of Merger” has the meaning set forth in Section 2.01(a). 

“Closing” has the meaning set forth in Section 2.02. 

“Closing Date” has the meaning set forth in Section 2.02. 

“Clinical Trial” means any human clinical trial of a Licensed Product in the Field. 

“Code” means the Internal Revenue Code of 1986, as amended. 

“Company” has the meaning set forth in the preamble. 

“Company Board” has the meaning set forth in the recitals. 

“Company Charter Documents” has the meaning set forth in Section 3.01(b). 

“Company Common Stock” means the common stock, par value $0.01 per share, of the Company. 

“Contracts” means all contracts, leases, deeds, mortgages, licenses, instruments, notes, commitments, undertakings,
indentures, joint ventures and all other legally binding agreements, commitments and arrangements, whether written or oral. 

“Development Milestone Event” has the meaning set forth in Section 2.12(a). 

“Development Milestone Payment” has the meaning set forth in Section 2.12(a). 

“DGCL” has the meaning set forth in the recitals. 

“Direct Claim” has the meaning set forth in Section 7.05(c). 

“Direct Claim Notice” has the meaning set forth in Section 7.05(c). 

“Disclosure Schedules” means the Disclosure Schedules delivered by ABS and the Company concurrently with the execution
and delivery of this Agreement. 
 “Dispute” has the meaning set forth in Section 8.10(b). 

“Dollars or $” means the lawful currency of the United States. 

“Effective Time” has the meaning set forth in Section 2.04. 

  
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 “EMA” means the European Medicines Agency or any successor entity thereto.

 “Encumbrance” means any charge, claim, community property interest, pledge, condition, equitable interest, lien
(statutory or other), option, security interest, mortgage, easement, encroachment, right of way, right of first refusal, or restriction or other similar encumbrance of any kind, including any restriction on use, voting, transfer, receipt of income
or exercise of any other attribute of ownership. 
 “Executive Officers” has the meaning set forth in
Section 8.10(b). 
 “Excluded Claim” has the meaning set forth in
Section 8.10(d). 
 “FDA” means the United States Food and Drug Administration or any successor
entity thereto. 
 “Field” means all fields of use. 

“FIRPTA Statement” has the meaning set forth in Section 6.07. 

“First Merger” has the meaning set forth in Section 2.01(a). 

“First Merger Constituent Corporations” has the meaning set forth in Section 2.01(a). 

“First Step Surviving Corporation” has the meaning set forth in Section 2.01(b). 

“GAAP” means United States generally accepted accounting principles in effect from time to time. 

“Governmental Authority” means any federal, state, national, provincial or local government, or political subdivision
thereof, or any multinational organization or any authority, agency or commission entitled to exercise any administrative, executive, judicial, legislative, police, regulatory or taxing authority or power, or any court or tribunal (or any
department, bureau or division thereof, or any governmental arbitrator or arbitral body). 
 “Governmental
Order” means any order, compliance order on consent, writ, judgment, injunction, decree, stipulation, determination or award issued by or entered with any Governmental Authority. 

“Indebtedness” means any amount owed, without duplication and with respect to the Company and its subsidiaries, in
respect of (a) indebtedness for borrowed money; (b) obligations for the deferred purchase price of property or services (other than trade payables and other current trade liabilities incurred in the ordinary and usual course of business);
(c) long or short-term obligations evidenced by notes, bonds, debentures or other similar instruments; (d) obligations under any interest rate, currency swap or other hedging agreement or arrangement; (e) capital lease obligations that are
required to be capitalized pursuant to GAAP but excluding any breakage costs, prepayment penalties or fees or other similar amounts payable in connection with any capitalized leases unless such breakage costs, prepayment penalties, fees or other
similar amounts are due and will be paid at the Closing; (f) reimbursement obligations under any letter of credit (to the extent drawn), banker’s acceptance or similar credit transactions; (g) obligations under conditional sale or
other title retention agreement with respect to property acquired; (h) deferred 

  
 4 

 
compensation owed to current or former employees of the Company; (i) guarantees made by the Company or any of its subsidiaries on behalf of any third party in respect of obligations of the
kind referred to in the foregoing clauses (a) through (h); and (j) any unpaid interest, prepayment penalties, premiums, costs and fees that would arise or become due as a result of the prepayment of any of the obligations referred to in
the foregoing clauses (a) through (i). 
 “Indemnified Party” has the meaning set forth in
Section 7.05. 
 “Indemnifying Party” has the meaning set forth in
Section 7.05. 
 “Company’s Knowledge,” “Knowledge of the Company” and
words of similar effect means the actual knowledge of Sandeep Gupta and Paul Carango. 
 “Liabilities” means
liabilities, obligations or commitments of any nature whatsoever, asserted or unasserted, known or unknown, absolute or contingent, accrued or unaccrued, matured or unmatured or otherwise. 

“License Agreement” means that certain Amended and Restated License Agreement between ABS and the Company, dated
November 23, 2020, in the form attached hereto as Exhibit A. 
 “Licensed Compound” has the meaning given
to such term in the License Agreement. 
 “Licensed Patent Right” has the meaning given to such term in the License
Agreement. 
 “Licensed Product” has the meaning given to such term in the License Agreement. 

“Litigation Conditions” has the meaning set forth in Section 7.05(a). 

“Losses” means losses, damages, liabilities, deficiencies, judgments, interest, awards, penalties, fines, Taxes, claims,
injuries, costs or expenses of whatever kind actually incurred or suffered, including reasonable attorneys’ fees and the cost of enforcing any right to indemnification hereunder and the cost of pursuing any insurance providers;
provided, however, that “Losses” shall not include consequential, indirect, special, punitive and exemplary damages. 

“Majority Investor” has the meaning set forth above under the defined term “Affiliate.” 

“Material Adverse Effect” means any event, occurrence, fact, circumstance, condition or change that has had, or would
reasonably be expected to have, individually or in the aggregate, a material adverse effect on (a) the business, results of operations, condition (financial or otherwise) or assets of the Company and its subsidiaries, taken as a whole,
including the License Agreement, or (b) the ability of the Company to perform its obligations under this Agreement or consummate the transactions contemplated hereby on a timely basis; provided, however, that none of
the following shall be deemed, either alone or in combination, to constitute, and none of the following shall be taken into account in determining whether there has been or will be, a Material Adverse Effect: (i) general economic or political
conditions; (ii) conditions generally affecting the industries in which the Company operates; (iii) any changes in financial or securities markets in general; (iv) acts of war (whether or not declared), armed hostilities or terrorism,
or the escalation or 

  
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worsening thereof; (v) earthquakes, hurricanes, tsunamis, tornadoes, floods, mudslides, wild fires or other natural disasters, weather conditions and other similar events in the United
States or any other country or region in the world; (vi) any changes in Applicable Laws or accounting rules, including GAAP; or (vii) the public announcement, pendency or completion of the transactions contemplated by this Agreement;
provided further, however, that any event, occurrence, fact, circumstance, condition or change referred to in clauses (i) through (vi) immediately above shall be taken into account in determining whether a Material
Adverse Effect has occurred or would reasonably be expected to occur to the extent that such event, occurrence, fact, condition or change has a disproportionate effect on the Company compared to other participants in the industries in which the
Company conducts its businesses. 
 “Merger” has the meaning set forth in the recitals. 

“Merger Consideration” means the (a) Up-Front Cash Consideration,
(b) the Up-Front Parent Shares, and (c) the Development Milestone Payments (including the Milestone Parent Shares). 

“Merger Sub I” has the meaning set forth in the preamble. 

“Merger Sub II” has the meaning set forth in the preamble. 

“Merger Subs” has the meaning set forth in the preamble. 

“MHRA” means the Medicines and Healthcare products Regulatory Agency or any successor entity thereto. 

“Milestone Parent Shares” has the meaning set forth in Section 2.12(b). 

“NMPA” means the National Medical Products Administration of the People’s Republic of China, and local counterparts
thereto, or any successor entity thereto. 
 “Notice of Dispute” has the meaning set forth in
Section 8.10(b). 
 “Parent” has the meaning set forth in the preamble. 

“Parent Indemnitees” has the meaning set forth in Section 7.02. 

“Parent Common Stock” means shares of the Parent’s common stock, par value $0.0001 per share. 

“Parent Preferred Stock” means shares of the Parent’s Series B-2 preferred
stock, par value $0.0001 per share. 
 “Parent Shares” has the meaning set forth in Section 4.07.

 “Person” means an individual, corporation, company, partnership, association, joint-stock company, trust,
unincorporated organization or government or political subdivision thereof. 
 “Phase 2 Study Milestone” has the
meaning set forth in Section 2.12(a). 

  
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 “PMDA” means the Pharmaceuticals and Medical Devices Agency of Japan, or
any successor entity thereto. 
 “Pre-Closing Tax Period” means any taxable
period ending on or before the Closing Date and, with respect to any Straddle Period, the portion of such taxable period ending on and including the Closing Date. 

“Pre-Closing Taxes” means Taxes of the Company for any Pre-Closing Tax Period. 
 “Registrational Trial” means a Clinical Trial that is designed
to obtain sufficient data and results to support the filing of an application for Regulatory Approval (but may not include the data that may be necessary to support the pricing and/or reimbursement approvals). A Registrational Trial includes any
Clinical Trial that satisfies at least one of the following criteria: 
 (a) It would, based on interactions with a
Regulatory Authority or otherwise prior to the initiation of such trial, satisfy the requirements of 21 CFR 312.21(c) or corresponding foreign regulations; 

(b) It is designed in a manner to allow for the addition of patients such that it could satisfy the requirements of 21 CFR
312.21(c) or corresponding foreign regulations; or 
 (c) It is otherwise intended, at the time of initiation to support
(either alone or together with another Clinical Trial that would satisfy the requirements of 21 CFR 312.21(c) or corresponding foreign regulations) an application for Regulatory Approval of a new product (or a new indication or intended use for an
already approved product). 
 “Regulatory Approval” means all approvals from the relevant Regulatory Authority necessary to
initiate marketing and selling a product (including Licensed Product) in any country or jurisdiction. For clarity, Regulatory Approval excludes pricing or reimbursement approval. 

“Representative” means, with respect to any Person, any and all directors, officers, employees, consultants, financial
advisors, counsel, accountants and other agents of such Person. 
 “Regulation D” means Regulation D promulgated under the
Securities Act. 
 “SEC” means the United States Securities and Exchange Commission. 

“Second Certificate of Merger” has the meaning set forth in Section 2.01(c). 

“Second Effective Time” has the meaning set forth in Section 2.04. 

“Second Merger” has the meaning set forth in the recitals. 

“Second Merger Constituent Corporations” has the meaning set forth in Section 2.01(c). 

  
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 “Securities Act” means the Securities Act of 1933, as amended, and the
rules and regulations promulgated thereunder. 
 “Securities Regulators” has the meaning set forth in
Section 5.02(b). 
 “Services Agreement” means the Administrative and Support Services Agreement,
dated as of March 1, 2020, between ASN and the Company. 
 “Share Issuance Letter” means the letter agreement,
dated as of the Closing Date, between ABS and Parent in the form attached hereto as Exhibit C. 
 “Shares” means all
issued and outstanding shares of Company Common Stock. 
 “Stockholder Consent” means written consent of ABS approving this
Agreement, the Ancillary Documents, the Merger and the other transactions contemplated hereby and thereby. 
 “Straddle
Period” has the meaning set forth in Section 6.04. 
 “Successful Proof of Concept”
means, with respect to a Licensed Product, initial evidence of therapeutic activity and safety (safety in patients receiving ASN007 is defined as: <10% ASN007-related SAEs, <20% ASN007-related Grade 3+ AEs, <20% of patients discontinue due
to an ASN007-related AE, and no ASN007-related deaths) in an indication obtained in a Phase 2 Clinical Trial that warrants continued clinical evaluation and development in a Registrational Trial, including an extension or continuation of such Phase
2 Clinical Trial that would serve as the Registrational Trial for such Licensed Product. Without limiting the generality of the foregoing, a Licensed Product will be deemed to warrant continued clinical evaluation development in a Registrational
Trial in an indication upon the earliest of (A) the achievement of the applicable success criteria set forth in Exhibit B, (B) the date on which a final protocol for such Registrational Trial has been signed by a duly authorized
officer of Parent or (C) Parent’s receipt of the FDA’s minutes from an end-of-phase 2 meeting between Parent and the FDA with respect to such Phase 2
Clinical Trial, indicating that the dose and safety and efficacy data from the Phase 2 Clinical Trial are sufficient to proceed to a Registrational Trial of the Licensed Product. 

“Surviving Contract” has the meaning set forth in Section 3.08(b). 

“Surviving Corporation” has the meaning set forth in Section 2.01(d). 

“Tax Claim” has the meaning set forth in Section 6.05. 

“Tax Return” means any return, declaration, report, claim for refund, information return, notice, form or other
documents (including any related or supporting schedules, statements or information) filed or required to be filed, or maintained or required to be maintained, in connection with the determination, assessment or collection of any Tax of any Person
or the administration of any laws, rules, regulations or administrative requirements relating to any Tax. 

  
 8 

 “Taxes” means all taxes, charges, fees, duties, levies or other
assessments, however denominated, imposed by any federal, state, local, or non-U.S. government or any agency or political subdivision of any such government, which taxes shall include, without limitation,
income, gross receipts, sales, use, production, ad valorem, transfer, franchise, registration, branch profits, profits, license, lease, service, service use, withholding, payroll, employment, unemployment, estimated, alternative minimum, add-on minimum, excise, customs, severance, margin, healthcare, escheat or unclaimed property, environmental, stamp, occupation, premium, property (real or personal), real property gains, net worth, intangibles,
social security, pension insurance contributions, disability, windfall profits taxes and other obligations of the same or of a similar nature to any of the foregoing, together with any interest, additions or penalties with respect thereto and any
interest in respect of such additions or penalties, whether disputed or not. 
 “Third Party Claim” has the meaning
set forth in Section 7.05(a). 
 “Up-Front Cash
Consideration” has the meaning set forth in Section 2.08(a)(ii). 
 “Up-Front Parent Shares” has the meaning set forth in Section 2.08(a)(ii). 

ARTICLE II 
 The Merger

 Section 2.01 First Merger and Second Merger. 

(a) Upon the terms and subject to the conditions set forth in this Agreement, and in accordance with the applicable provisions
of the DGCL, Parent, Merger Sub I and the Company (Merger Sub I and the Company sometimes being referred to herein as the “First Merger Constituent Corporations”) shall cause Merger Sub I to be merged with and into the Company effective as
of the Effective Time, with the Company being the surviving corporation (the “First Merger”). The First Merger shall be consummated at the Effective Time in accordance with this Agreement and evidenced by a certificate of merger relating
to the First Merger (the “Certificate of Merger”). 
 (b) Upon consummation of the First Merger, the separate
corporate existence of Merger Sub I shall cease and the Company, as the surviving corporation of the First Merger (hereinafter referred to for the periods at and after the Effective Time as the “First Step Surviving Corporation”), shall
continue its corporate existence under the DGCL as a direct wholly owned subsidiary of Parent. 
 (c) Upon the terms and
subject to the conditions set forth in this Agreement, and in accordance with the applicable provisions of the DGCL, Parent, Merger Sub II and the First Step Surviving Corporation (Merger Sub II and the First Step Surviving Corporation sometimes
being referred to herein as the “Second Merger Constituent Corporations”) shall cause the Second Merger to be consummated. The Second Merger shall be consummated at the Second Effective Time in accordance with this Agreement and evidenced
by a certificate of merger relating to the Second Merger (the “Second Certificate of Merger”). 

  
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 (d) Upon consummation of the Second Merger, the separate corporate existence
of the First Step Surviving Corporation shall cease and Merger Sub II, as the surviving corporation of the Second Merger (hereinafter referred to for the periods at and after the Second Effective Time as the “Surviving Corporation”), shall
continue its corporate existence under the DGCL as a direct wholly owned subsidiary of Parent. 
 Section 2.02
Closing. Subject to the terms and conditions of this Agreement, the closing of the Merger (the “Closing”) shall take place on the date hereof, at the offices of Latham & Watkins LLP, 12670 High
Bluff Drive, San Diego, CA 92130, or at such other time or on such other date or at such other place as Parent and ABS may mutually agree upon in writing (the day on which the Closing takes place being the “Closing Date”). The
Closing shall be effected, to the extent practicable, by conference call, the electronic delivery of certain documents, and the prior physical exchange of certain documents and instruments to be held in escrow by outside counsel to the recipient
party pending authorization to release at the Closing. 
 Section 2.03 Closing Deliverables. 

(a) By ABS and the Company. At or prior to the Closing, ABS and the Company shall deliver to Parent the following: 

(i) the Stockholder Consent, executed by ABS; 

(ii) a certificate of the Secretary of the Company certifying that (A) attached thereto are true and complete copies of all resolutions
adopted by the Company Board authorizing the execution, delivery and performance of this Agreement and the Ancillary Documents and the consummation of the transactions contemplated hereby and thereby, (B) all such resolutions have not been
revoked, rescinded or amended and are in full force and effect as of the date thereof and are all the resolutions adopted in connection with the transactions contemplated hereby and thereby, and (C) the persons who have signed this Agreement,
the Ancillary Documents and the other documents to be delivered hereunder and thereunder at or prior to the Closing have properly done so as duly authorized officers of the Company; 

(iii) a good standing certificate of the Company (or its equivalent) from the secretary of state of Delaware; 

(iv) resignations, in form and substance reasonably acceptable to Parent, of each director and officer of each subsidiary of the Company,
effective as of the Effective Time; 
 (v) written confirmation from ABS that the Services Agreement has been terminated and all amounts
accrued and payable to ABS by the Company under the Services Agreement on or prior to the Closing Date have been satisfied and paid; and 

(vi) the FIRPTA Statement. 

(b) By Parent. At the Closing, Parent shall deliver to the Company (or such other Person as may be specified herein) the
following: 

  
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 (i) payment to ABS by wire transfer of immediately available funds an amount equal to the
aggregate Up-Front Cash Consideration payable pursuant to and in accordance with Section 2.08 in exchange for the Shares; and 

(ii) a certificate of the Secretary of Parent certifying that (A) attached thereto are true and complete copies of all resolutions adopted
by the board of directors of Parent and the Merger Subs authorizing the execution, delivery and performance of this Agreement and the Ancillary Documents and the consummation of the transactions contemplated hereby and thereby, (B) all such
resolutions have not been revoked, rescinded or amended and are in full force and effect as of the date thereof and are all the resolutions adopted in connection with the transactions contemplated hereby and thereby, and (C) the persons who
have signed this Agreement, the Ancillary Documents and the other documents to be delivered hereunder and thereunder at or prior to the Closing have properly done so as duly authorized officers of Parent and the Merger Subs. 

Section 2.04 Effective Time and Second Effective Time. Subject to the provisions of this
Agreement, at the Closing, the Company, Parent and Merger Sub I shall cause the Certificate of Merger to be executed, acknowledged and filed with the Secretary of State of the State of Delaware in accordance with the relevant provisions of the DGCL
and shall make all other filings or recordings required under the DGCL. The First Merger shall become effective at such time as the Certificate of Merger has been duly filed with the Secretary of State of the State of Delaware or at such later date
or time as may be agreed by the Company and Parent in writing and specified in the Certificate of Merger in accordance with the DGCL (the effective time of the First Merger being referred to as the “Effective Time”). Promptly
following the Effective Time, the Company, Parent and Merger Sub II shall cause the Second Certificate of Merger to be executed, acknowledged and filed with the Secretary of State of the State of Delaware in accordance with the relevant provisions
of the DGCL and shall make all other filings or recordings required under the DGCL. The Second Merger shall become effective at such time as the Second Certificate of Merger has been duly filed with the Secretary of State of the State of Delaware or
at such later date or time as may be agreed by the Company and Parent in writing and specified in the Second Certificate of Merger in accordance with the DGCL (the effective time of the Second Merger being referred to as the “Second
Effective Time”). 
 Section 2.05 Effects of the Merger. 

(a) At and after the Effective Time, the effect of the First Merger shall be as provided in this Agreement and the applicable
provisions of the DGCL. Without limiting the generality of the foregoing, and subject thereto, from and after the Effective Time, all property, rights, privileges, immunities, powers, franchises, licenses and authority of the First Merger
Constituent Corporations shall vest in the First Step Surviving Corporation, and all debts, liabilities, obligations, restrictions and duties of each of the First Merger Constituent Corporations shall become the debts, liabilities, obligations,
restrictions and duties of the First Step Surviving Corporation. 
 (b) At and after the Second Effective Time, the effect of
the Second Merger shall be as provided in this Agreement and the applicable provisions of the DGCL. Without limiting the generality of the foregoing, and subject thereto, from and after the Second Effective Time, all property, rights, privileges,
immunities, powers, franchises, licenses and authority of the Second Merger Constituent Corporations shall vest in the Surviving Corporation, and all debts, liabilities, obligations, restrictions and duties of each of the Second Merger Constituent
Corporations shall become the debts, liabilities, obligations, restrictions and duties of the Surviving Corporation. 

  
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 Section 2.06 Certificate of Incorporation;
By-laws. 
 (a) At the Effective Time, (i) the certificate of incorporation
of Merger Sub I as in effect immediately prior to the Effective Time shall be the certificate of incorporation of the First Step Surviving Corporation until thereafter amended in accordance with the terms thereof or as provided by Applicable Law,
and (ii) the by-laws of Merger Sub I as in effect immediately prior to the Effective Time shall be the by-laws of the First Step Surviving Corporation until
thereafter amended in accordance with the terms thereof, the certificate of incorporation of the First Step Surviving Corporation or as provided by Applicable Law; provided, however, in each case, that the name of the corporation set
forth therein shall be changed to the name of the Company. 
 (b) At the Second Effective Time, (i) the certificate of
incorporation of the First Step Surviving Corporation as in effect immediately prior to the Second Effective Time shall be the certificate of incorporation of the Surviving Corporation until thereafter amended in accordance with the terms thereof or
as provided by Applicable Law, and (ii) the by-laws of the First Step Surviving Corporation as in effect immediately prior to the Second Effective Time shall be the
by-laws of the Surviving Corporation until thereafter amended in accordance with the terms thereof, the certificate of incorporation of the Surviving Corporation or as provided by Applicable Law. 

Section 2.07 Directors and Officers. 

(a) The directors and officers of Merger Sub I, in each case, immediately prior to the Effective Time shall, from and after the
Effective Time, be the directors and officers, respectively, of the First Step Surviving Corporation until their successors have been duly elected or appointed and qualified or until their earlier death, resignation or removal in accordance with the
certificate of incorporation and by-laws of the First Step Surviving Corporation. By virtue of the First Merger and without further action, the directors and officers of the Company immediately prior to the
Effective Time shall cease to be directors or officers of the First Step Surviving Corporation as of the Effective Time. 

(b) The directors and officers of the First Step Surviving Corporation, in each case, immediately prior to the Second Effective
Time shall, from and after the Second Effective Time, be the directors and officers, respectively, of the Surviving Corporation until their successors have been duly elected or appointed and qualified or until their earlier death, resignation or
removal in accordance with the certificate of incorporation and by-laws of the Surviving Corporation. By virtue of the Second Merger and without further action, the directors and officers of Merger Sub II
immediately prior to the Second Effective Time shall cease to be directors or officers of the Surviving Corporation as of the Second Effective Time. 

Section 2.08 Up-Front Merger Consideration; Effect of the Merger on Common
Stock. 

  
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 (a) At the Effective Time, as a result of the First Merger and without any
action on the part of Parent, Merger Subs, the Company or any Stockholder: 
 (i) Cancellation of Treasury Stock. Shares that are owned by
the Company (as treasury stock or otherwise) or any of its direct or indirect wholly owned subsidiaries shall automatically be cancelled and retired and shall cease to exist, and no consideration shall be delivered in exchange therefor. 

(ii) Up-Front Merger Consideration and Conversion of Company Common Stock. The Shares issued and
outstanding immediately prior to the Effective Time (other than Shares to be cancelled and retired in accordance with Section 2.08(a)(i)) shall be converted into the right to receive (A) twenty million U.S. dollars (USD $20,000,000)
without interest (the “Up-Front Cash Consideration”), payable at the Closing, (B) four million (4,000,000) shares of Parent Preferred Stock, as adjusted from time to time in the same manner as
Parent Preferred Stock after the date hereof in the event of a reverse or forward split of Parent’s capital stock, recapitalization or other similar adjustment applicable to the capital stock of Parent, to be issued within thirty (30) days
after the Effective Time (the “Up-Front Parent Shares”), (c) any Development Milestone Payments that become payable pursuant to Section 2.12 and (d) any Milestone Parent Shares that become
issuable pursuant to Section 2.12. 
 (iii) Conversion of Merger Sub I Capital Stock. Each share of common stock, par value $0.0001 per
share, of Merger Sub I issued and outstanding immediately prior to the Effective Time shall be converted into and become one newly issued, fully paid and non-assessable share of common stock of the First Step
Surviving Corporation. 
 (b) At the Second Effective Time, as a result of the Second Merger and without any action on the
part of Parent, Merger Sub II or the First Step Surviving Corporation: 
 (i) Cancellation of Treasury Stock. Shares of common stock, par
value $0.0001 per share, of the First Step Surviving Corporation that are owned by the First Step Surviving Corporation (as treasury stock or otherwise) or any of its direct or indirect wholly owned subsidiaries shall automatically be cancelled and
retired and shall cease to exist, and no consideration shall be delivered in exchange therefor. 
 (ii) Conversion of First Step Surviving
Corporation Capital Stock. Each share of common stock, par value $0.0001 per share, of the First Step Surviving Corporation issued and outstanding immediately prior to the Second Effective Time (other than shares of common stock of the First Step
Surviving Corporation to be cancelled and retired in accordance with Section 2.08(b)(i)) shall be converted into the right to receive an equivalent number of shares of common stock, par value $0.0001 per share, of the Surviving Corporation, all
of which shares shall be held by Parent, and which shall constitute the only outstanding shares of common stock, par value $0.0001 per share, of the Surviving Corporation immediately following the Second Effective Time. 

  
 13 

 Section 2.09 Surrender and Payment. At the Effective Time,
all Shares outstanding immediately prior to the Effective Time shall automatically be cancelled and retired and shall cease to exist, and ABS shall cease to have any rights as a stockholder of the Company, and any stock certificate formerly
representing the Shares (a “Certificate”) shall represent only the right to receive the Merger Consideration as provided herein. 

Section 2.10 Withholding Rights. As of the date hereof, the parties acknowledge and agree that no
withholding of Taxes with respect to any payments made pursuant to this Agreement is required under Applicable Law. In the event that Parent determines that Applicable Laws require such withholding of Taxes, Parent shall immediately notify ABS in
writing of the potential for withholding of Taxes and cooperate with ABS in good faith before undertaking any such withholding of Taxes so as to reduce or eliminate any potential obligation for such withholding of Taxes to the greatest extent
possible, including with respect to obtaining the benefit of any present or future treaty against double taxation or refund or reduction in such Taxes. Without limiting the foregoing, Parent shall make any such required withholding payments in a
timely manner and shall subtract the amount thereof from payments of consideration otherwise payable to ABS pursuant to this Agreement. Parent shall promptly (as available) submit to ABS appropriate proof of payment of the withheld Taxes as well as
the official receipts within a reasonable period of time. Notwithstanding the foregoing, if as a result of Parent assigning this Agreement or changing its domicile, additional Taxes become due that would not have otherwise been due hereunder with
respect to payments of consideration payable to ABS pursuant to this Agreement, Parent shall be responsible for all such additional withholding Taxes and shall pay ABS such amounts as are necessary to ensure that ABS receives the same amount as it
would have received had no such assignment or change in domicile been made. 
 Section 2.11 Lost
Certificates. If any Certificate shall have been lost, stolen or destroyed, upon the making of an affidavit of that fact by the Person claiming such Certificate to be lost, stolen or destroyed and, if required by Parent, the posting by
such Person of a bond, in such reasonable amount as Parent may direct, as indemnity against any claim that may be made against it with respect to such Certificate, Parent shall issue, in exchange for such lost, stolen or destroyed Certificate, the
Merger Consideration to be paid in respect of the Shares formerly represented by such Certificate as contemplated under this Article II. 

Section 2.12 Development Milestone Payments. 

(a) Milestone Triggers and Payments. Within forty-five (45) days after the achievement of each milestone event set
forth in the table below (each, a “Development Milestone Event”), Parent shall make the corresponding milestone payment to ABS (each, a “Development Milestone Payment”). Parent shall provide ABS with notice of the occurrence of
each Development Milestone Event within thirty (30) days of achievement. Each Development Milestone Payment shall be fully-earned and payable once upon the first achievement of the corresponding Development Milestone Event. 

  
 14 

					
	Milestone Event	  	Milestone Payment	 
	 [***] (“[***] Milestone”)
	  	 	$[***]	 
	 [***] (“[***] Milestone”)
	  	 	$[***]	 
	 [***]
	  	 	$[***]	 
	 [***]
	  	 	$[***]	 
	 [***]
	  	 	$[***]	 
	 [***]
	  	 	$[***]	 
	 Total Development Milestones
	  	 	$[***]	 

 (b) Phase 2 Study Milestone Equity. In addition, upon the achievement of the Phase 2 Study
Milestone, and subject to the terms of the Share Issuance Letter, Parent shall issue to ABS four million six hundred sixty-six thousand six hundred sixty-seven (4,666,667) shares of Parent Common Stock (the
“Milestone Parent Shares”), as adjusted from time to time in the same manner as Parent Common Stock is adjusted after the date hereof in the event of a reverse or forward split of Parent’s capital stock, the issuance of any dividends,
recapitalization or other similar adjustment applicable to all Parent Common Stock as a class. 
 (c) Payment Requirements.
Parent’s obligations to make Development Milestone Payments (and issue the Milestone Parent Shares) under this Section 2.12 shall apply only while the License Agreement is in full force and effect and such obligations shall terminate upon
the termination of the License Agreement. Notwithstanding the foregoing sentence, to the extent that Company or its Affiliate or sublicensee continues to Develop or Commercialize any Licensed Compound or Licensed Product after the effective date of
termination of the License Agreement, this Section 2.12 shall survive such termination; provided, that, if such Licensed Compound (other than a Licensed Compound described in subsection (a) or (b) of Section 1.33 (Licensed Compound)
of the License Agreement) or Licensed Product (other than a Licensed Product containing, incorporating or comprising a Licensed Compound described in subsection (a) or (b) of Section 1.33 (Licensed Compound) of the License Agreement) is
Covered by a Licensed Patent Right (as such term is defined in the License Agreement) that has been invalidated (other than as a result of a Patent Challenge), and is not Covered by any other Licensed Patent Right, then Parent’s payment
obligations pursuant to such Sections shall terminate. “Patent Challenge” means a proceeding filed or initiated by ASN or any of its Affiliates or sublicensees (directly or indirectly (e.g., through a Third Party)) in a court or by
administrative proceeding seeking the invalidity or unenforceability or otherwise challenging or seeking to limit the scope of any Licensed Patent Right. For clarity, and notwithstanding the foregoing, following the

  
 15 

 
expiration of the License Agreement, if Company or its Affiliate or sublicensee ever achieves the Breakthrough Designation Milestone with a subsequent or future Licensed Product, then Parent
shall pay the corresponding milestone payment for achievement of the Breakthrough Designation Milestone pursuant to this Section 2.12. Any payments or portions thereof due hereunder that are not paid on the date such payments are due under this
Agreement shall bear interest at a rate equal to the lesser of: (i) three (3) percentage points above the prime rate as published by The Wall Street Journal or any successor thereto on the first day of each Calendar Quarter in which such
payments are overdue or (ii) the maximum rate permitted by Applicable Laws; in each case calculated on the number of days such payment is delinquent, compounded monthly. 

(d) Assignment of Rights to Consideration. ABS and any of its direct or indirect members, stockholders, partners, trust
beneficiaries or other equityholders or Affiliates may assign, delegate or otherwise transfer any of its rights to the Up-Front Cash Consideration, Up-Front Parent
Shares, Development Milestone Payments or Milestone Parent Shares (or any other consideration payable pursuant to this Agreement), to any of ABS’ direct or indirect members, stockholders, partners, trust beneficiaries or other equityholders or
Affiliates, and any of their respective direct or indirect members, stockholders, partners, trust beneficiaries or other equityholders or Affiliates or family members or relatives of such Persons. ABS acknowledges and agrees, that: (i) the
Development Milestone Payments are solely represented by this Agreement and are not represented by any certificate, instrument or other delivery, (ii) the Development Milestone Payments are solely a contractual right and are not a security for
purposes of any securities laws, and confer upon ABS only the rights of a general unsecured creditor under Applicable Law, (iii) the Development Milestone Payments do not bear interest (except to the extent paid after the required date pursuant
to Section 2.12(a)), and (iv) the Development Milestone Payments are not redeemable. 
 Section 2.13
Parent Shares; Series B Agreements and Lock-Up Agreement. 
 (a) The Parent
Shares issued pursuant to the terms of this Agreement will be issued in a transaction exempt from registration under the Securities Act by reason of Section 4(a)(2) thereof and/or Regulation D promulgated under the Securities Act and may not be
re-offered or resold other than in conformity with the registration requirements of the Securities Act and such other applicable rules and regulations or pursuant to an exemption therefrom. The Parent Shares
shall be “restricted securities” under the Securities Act and, if certificated, shall bear the following legends (or if held in book entry form, will be noted with a similar restriction): 

  
 16 

 “THE SECURITIES REPRESENTED HEREBY HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933. SUCH SHARES MAY NOT BE SOLD, PLEDGED, OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR A VALID EXEMPTION FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SAID ACT.” 

“THE SECURITIES REPRESENTED HEREBY MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE TERMS OF AN AGREEMENT BETWEEN THE COMPANY AND THE
STOCKHOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY.” 
 (b) ABS agrees to become a party to the
Amended and Restated Stockholders Agreement, dated April 15, 2020, by and among Parent and the parties set forth on Schedule A thereto, and the Right of First Refusal and Co-Sale Agreement, dated
April 15, 2020, by and among the Company and the parties set forth on Schedule A and Schedule B thereto, in each case as an “Investor” (as defined therein). 

ARTICLE III 

Representations and Warranties of ABS and the Company 

Except as set forth in the correspondingly numbered Section of the Disclosure Schedules, ABS and the Company represent and warrant to Parent
and Merger Subs that the statements contained in this Article III are true and correct as of the date hereof. 
 Section 3.01
Organization and Qualification. 
 (a) Each of the Company and ABS is a corporation or limited liability company duly
organized, validly existing, and in good standing under the Applicable Laws of the jurisdiction of formation. Each of the Company and ABS has all requisite power and authority to carry on its business as now conducted. The Company is duly qualified
to transact business and is in good standing in each jurisdiction in which the failure to so qualify would have a Material Adverse Effect. 

(b) ABS and the Company have made available to Parent accurate and complete copies of (i) the certificate of
incorporation, by-laws and other organizational documents of the Company (collectively, the “Company Charter Documents”), and (ii) the minutes of the meetings and actions taken by written
consent or otherwise without a meeting of the stockholders of the Company, the Company Board and all committees of the Company Board. Section 3.01(b) of the Disclosure Schedules sets forth each director and each officer of the Company. The
books of account, stock or other equity records, minute books and other records of the Company and its subsidiaries are accurate, up-to-date and complete. 

  
 17 

 Section 3.02 Authority. All action on the part of each of
ABS and the Company, their respective officers, directors, security holders, members, managers and stockholders necessary for the authorization, execution and delivery of this Agreement, the performance of all their respective obligations hereunder,
has been taken or will be taken prior to the Closing, and, assuming this Agreement constitutes the legal, valid, and binding obligation of Parent and the Merger Subs, this Agreement constitutes a valid and binding agreement enforceable against ABS
and the Company in accordance with its terms (except as the enforceability thereof may be limited by bankruptcy, insolvency, reorganization, bank moratorium or similar laws affecting creditors’ rights generally and laws restricting the
availability of equitable remedies and may be subject to general principles of equity whether or not such enforceability is considered in a proceeding at law or in equity). The consent of ABS is the only vote or consent of the holders of any class
or series of the Company’s capital stock required to approve and adopt this Agreement and the Ancillary Documents, approve the Merger and consummate the Merger and the other transactions contemplated hereby and thereby. 

Section 3.03 No Conflicts; Consents. The execution, delivery and performance by ABS and the Company of
this Agreement and the Ancillary Documents to which it is a party, and the consummation of the transactions contemplated hereby and thereby, including the Merger, do not and will not: (i) conflict with or result in a breach of any provision of
its organizational documents (including the Company Charter Documents), (b) result in a breach of any agreement to which it is a party; or (c) violate any Applicable Laws. No consent, approval, permit, Governmental Order, declaration or filing
with, or notice to, any Governmental Authority is required by or with respect to ABS or the Company in connection with the execution, delivery and performance of this Agreement and the Ancillary Documents and the consummation of the transactions
contemplated hereby and thereby, except for the filing of the Certificate of Merger and Second Certificate of Merger with the Secretary of State of Delaware. 

Section 3.04 Capitalization of the Company. The authorized capital stock of the Company consists solely of
300,000,000 shares of Company Common Stock, of which there were issued and outstanding as of the close of business on the date of this Agreement 100 shares. All such issued and outstanding Shares are (i) duly authorized, validly issued, fully
paid and non-assessable; (ii) not subject to any preemptive rights created by statute, the Company Charter Documents or any agreement to which the Company or ABS is a party; and (iii) free of any
Encumbrances created by the Company or ABS in respect thereof. ABS is the sole stockholder of the Company and the registered owner of the Shares, and there are no other holders of Company Common Stock other than ABS. There are no outstanding
options, warrants, profits interests, rights (including conversion or preemptive rights) or agreements for the purchase or acquisition from the Company or ABS of any equity interest in the Company. 

Section 3.05 No Subsidiaries. The Company has no subsidiaries and does not own or hold, or has ever
owned or held, any equity interest in any other Person. 
 Section 3.06 No Employees. The Company has no
employees. The Company is not a party to any pension, benefit, retirement, compensation, employment, consulting, profit-sharing, deferred compensation, incentive, bonus, performance award, phantom equity, stock or stock-based, change in control,
retention, severance, vacation, paid time off, welfare, fringe-benefit and other similar agreement, plan, policy, program or arrangement (and any amendments thereto), in each case whether or not reduced to writing. 

  
 18 

 Section 3.07 No Undisclosed Liabilities or
Indebtedness. The Company does not have any Liabilities or Indebtedness except (i) as set forth on Section 3.07 of the Disclosure Schedules and (ii) any contractual performance obligations
(other than on account of any breach or default thereunder or any violation of law) under existing executory Contracts of the Company. 

Section 3.08 License Agreement and Surviving Contracts.

(a) A complete and correct copy of the License Agreement (including all modifications and amendments thereto and written
waivers thereunder) is attached hereto as Exhibit A. 
 (b) Section 3.08 of the Disclosure Schedules sets forth a
categorized list as of the date hereof of any other Contracts of the Company that will survive the Closing (“Surviving Contract”). Each Surviving Contract is valid and binding on the Company in accordance with its terms (except as
limited by laws of general application relating to bankruptcy, insolvency and the relief of debtors and as limited by rules of law governing specific performance, injunctive relief or other equitable remedies and by general principles of
equity) and is in full force and effect. None of the Company or, to ABS’s or the Company’s Knowledge, any other party thereto is in breach of or default under (or is alleged to be in breach of or default under) or has provided or received
any written notice of any intention to terminate, any Surviving Contract. Complete and correct copies of each Surviving Contract (including all modifications and amendments thereto and written waivers thereunder) have been made available to Parent.

 Section 3.09 Title to Assets. Except as set forth on Section 3.09 of the
Disclosure Schedules, the Company has good and valid title to all of its personal property and other tangible assets, free and clear of Encumbrances. The Company has no real property assets or leasehold interests. 

Section 3.10 Taxes. 

(a) All income and other material Tax Returns required to be filed by the Company have been timely filed. Such Tax Returns are
true, complete and correct in all material respects. All Taxes due and owing by the Company (whether or not shown on any Tax Return) have been timely paid. The Company has not requested or been granted an extension of the time for filing any Tax
Return that has not yet been filed (other than any automatic extension for which approval of a taxing authority is not required). 

(b) The Company has withheld and paid each Tax required to have been withheld and paid in connection with amounts paid or owing
to any employee, independent contractor, creditor, customer, shareholder or other party, and complied in all material respects with all information reporting and backup withholding provisions of Applicable Law. 

  
 19 

 (c) No written claim has been made by any taxing authority in any
jurisdiction asserting that the Company is or may be subject to Taxes imposed by that jurisdiction but not paid by the Company, including, without limitation, sales and use Taxes required to be collected by the Company and remitted to that
jurisdiction and income Taxes payable to that jurisdiction. 
 (d) No extensions or waivers of the time in which any Tax may
be assessed or collected by any taxing authority have been given or requested with respect to any Taxes of the Company, which are still outstanding. 

(e) The Company is not currently subject to any audits or examinations by taxing authorities. 

(f) No issues relating to material Taxes of the Company were raised by the relevant taxing authority in any completed audit or
examination that would reasonably be expected to result in a material amount of Taxes in a later taxable period. 
 (g) No
deficiency or adjustment in respect of Taxes has been claimed, proposed in writing, asserted or assessed by any taxing authority against the Company. There are no outstanding refund claims with respect to any Tax or Tax Return of the Company. 

(h) The Company is not a party to any Action by any taxing authority. There are no pending or threatened Actions with respect
to the Company by any taxing authority. 
 (i) No power of attorney with respect to any Taxes of the Company has been filed
or executed with any taxing authority. 
 (j) There are no Encumbrances for Taxes (other than for current Taxes not yet due
and payable) upon the assets of the Company. 
 (k) The Company is not a party to, or bound by, any Tax indemnity, Tax
sharing or Tax allocation agreement (other than, in each case, a commercial agreement entered into in the ordinary and usual course of business, the principal purpose of which does not relate to Tax). 

(l) No private letter rulings, technical advice memoranda or similar agreement or rulings have been requested, entered into or
issued by any taxing authority with respect to the Company. 
 (m) The Company is not or has not been a member of an
affiliated, combined, consolidated or unitary Tax group for income Tax purposes (other than a group of which the Company is the common parent). The Company does not have any Liability for Taxes of any other Person under Treasury Regulations Section 1.1502-6 (or any corresponding provision of state, local or non-U.S. Tax Law), as transferee or successor, by Contract or otherwise. 

  
 20 

 (n) The Company will not be required to include any item of income in, or
exclude any deduction from, taxable income for any taxable period (or portion thereof) ending after the Closing Date as a result of any: (i) change in method of accounting or the use of an improper method of accounting for a Pre-Closing Tax Period; (ii) “closing agreement” as described in Section 7121 of the Code (or any corresponding or similar provision of state, local or non-U.S.
income Tax Law) executed on or prior to the Closing Date; (iii) installment sale or open transaction disposition made on or prior to the Closing Date; (v) prepaid or deposit amount received on or prior to the Closing Date; or
(vi) election described in Section 108(i) of the Code (or any corresponding or similar provision of state, local or non-U.S. Tax law) made on or prior to the Closing Date 

(o) The Company (i) has neither agreed nor is required to make any adjustment under Section 481(a) of the Code by
reason of a change in accounting method or otherwise; (ii) has not elected at any time to be treated as an S corporation within the meaning of Sections 1361 or 1362 of the Code; and (iii) has neither made any of the foregoing elections,
nor is required to apply any of the foregoing rules, under any comparable state or local Tax law. 
 (p) The Company has not
been a “distributing corporation” or a “controlled corporation” in connection with a distribution described in Section 355 of the Code. 

(q) The Company is not, and has not been, a party to, or a promoter of, a “reportable transaction” within the meaning
of Section 6707A(c)(1) of the Code and Treasury Regulations Section 1.6011-4(b). 
 (r) The Company is not subject
to Tax in any country other than its country of organization. 
 (s) The Company is not a partner for Tax purposes with
respect to any joint venture, partnership, or other arrangement or Contract which is treated as a partnership for Tax purposes. 

Section 3.11 Investment Representations. 

(a) The Parent Shares to be issued to ABS hereunder will be acquired for investment for ABS’s own account and not with a
view to the public resale or distribution thereof within the meaning of the Securities Act. 
 (b) ABS has received or has
had full access to all the information ABS considers necessary or appropriate to make an informed investment decision with respect to the Parent Shares. 

  
 21 

 (c) ABS understands that the receipt of the Parent Shares involves
substantial risk. ABS: (i) has experience as an investor in securities of companies in the development stage and acknowledges that ABS is able to fend for itself, can bear the economic risk of ABS’s investment in the Parent Shares and has
such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of its investment in the Parent Shares and protecting its investment; and/or (ii) has a preexisting business relationship with
Parent and/or certain of its other officers, directors or controlling persons of a nature and duration that enables ABS to be aware of the character, business acumen and financial circumstances of such persons. 

(d) ABS is an accredited investor within the meaning of Regulation D. 

(e) ABS is not a person of the type described in Section 506(d) of Regulation D that would disqualify the Company from
engaging in a transaction pursuant to Section 506 of Regulation D. 
 (f) ABS understands that the Parent Shares are
characterized as “restricted securities” under the Securities Act, in a transaction not involving a public offering and that under the Securities Act and applicable regulations thereunder such securities may be resold without registration
under the Securities Act only in certain limited circumstances. ABS represents that it is familiar with Rule 144 of the SEC and understands the resale limitations imposed thereby and by the Securities Act. ABS understands that Parent is under no
obligation to register any of the securities sold hereunder. 
 Section 3.12 Brokers. No broker,
finder or investment banker is entitled to any brokerage, finder’s or other fee or commission in connection with the transactions contemplated by this Agreement or any Ancillary Document based upon arrangements made by or on behalf of ABS or
the Company. 
 Section 3.13 No Other Representations and Warranties. Except as expressly set forth
in this Agreement, the License Agreement and the Ancillary Documents, neither ABS, the Company nor any of their respective agents, employees or representatives have made, nor are any of them making any representation or warranty, written or oral,
express or implied, in respect of the Company or its businesses. Each of Parent and Merger Subs expressly acknowledges and agrees that none of Parent, Merger Subs or any of their respective agents, employees or representatives is relying on any
other representation or warranty of ABS or the Company or any of their respective agents, employees or representatives, including regarding the accuracy or completeness of any such other representations and warranties, whether express or
implied. 
 ARTICLE IV 

Representations and warranties of parent and merger subs 

Parent and Merger Subs represent and warrant to the Company that the statements contained in this Article IV are true and correct as of
the date hereof. 

  
 22 

 Section 4.01 Organization and Authority of Parent and Merger Subs.
Each of Parent and the Merger Subs is a corporation duly organized, validly existing and in good standing under the Applicable Laws of the jurisdiction of its incorporation. Each of Parent and Merger Subs has all requisite power and authority to
carry on its business as now conducted. 
 Section 4.02 Authority. All action on the part of each of Parent
and the Merger Subs, their respective officers, directors, security holders, members, managers and stockholders necessary for the authorization, execution and delivery of this Agreement, the performance of all their respective obligations hereunder,
has been taken or will be taken prior to the Closing, and, assuming this Agreement constitutes the legal, valid, and binding obligation of ABS and the Company, this Agreement constitutes a valid and binding agreement enforceable against Parent and
the Merger Subs in accordance with its terms (except as the enforceability thereof may be limited by bankruptcy, insolvency, reorganization, bank moratorium or similar laws affecting creditors’ rights generally and laws restricting the
availability of equitable remedies and may be subject to general principles of equity whether or not such enforceability is considered in a proceeding at law or in equity). No other corporate proceedings on the part of Parent and Merger Subs are
necessary to authorize the execution, delivery and performance of this Agreement or to consummate the Merger and the other transactions contemplated hereby and thereby. 

Section 4.03 No Conflicts; Consents. The execution, delivery and performance by Parent and Merger Subs of this
Agreement and the Ancillary Documents to which it is a party, and the consummation of the transactions contemplated hereby and thereby, including the Merger, do not and will not: (i) conflict with or result in a breach of any provision of its
organizational documents, (b) result in a breach of any agreement to which it is a party; or (c) violate any Applicable Laws. No consent, approval, permit, Governmental Order, declaration or filing with, or notice to, any Governmental
Authority is required by or with respect to Parent or Merger Subs in connection with the execution, delivery and performance of this Agreement and the Ancillary Documents and the consummation of the transactions contemplated hereby and thereby,
except for the filing of the Certificate of Merger and Second Certificate of Merger with the Secretary of State of Delaware.  

Section 4.04 Merger Subs. Merger Subs are direct wholly owned subsidiaries of Parent,
have no material liabilities, and are not engaged in any material business activities other than in connection with the transactions contemplated hereby. 

Section 4.05 Capitalization of Parent. The authorized capital of Parent consists of 147,027,681 shares of Parent
Common Stock, 31,310,431 shares of which are issued and outstanding immediately prior to the Issuance, 38,103,681 shares of Series A Preferred Stock, par value $0.0001 per share, all of which are issued and outstanding, 28,741,400 shares of Series B-1 Preferred Stock, par value $0.0001 per share, 27,481,001 shares of which are issued and outstanding, and 30,777,328 shares of Series B-2 Preferred Stock, par value $0.0001
per share, none of which are issued and outstanding. All of the outstanding shares of Parent’s capital stock have been duly authorized, are fully paid and nonassessable and were issued in compliance with all applicable federal and state
securities laws. Parent holds no capital stock in its treasury.  

  
 23 

 Section 4.06 Parent Shares. The
Up-Front Parent Shares and the Milestone Parent Shares (together the “Parent Shares”), when issued, sold and delivered in accordance with the terms and for the consideration set forth in this
Agreement will be validly issued, fully paid and nonassessable and free of restrictions on transfer other than restrictions on transfer under or referenced in this Agreement, applicable state and federal securities laws and liens or encumbrances
created by or imposed by ABS. Assuming the accuracy of the representations of ABS and the Company in Section 3.11 of this Agreement, the Parent Shares will be issued in compliance with all applicable federal and state
securities laws.  
 Section 4.07 Brokers. No broker, finder or investment banker is entitled to any
brokerage, finder’s or other fee or commission in connection with the transactions contemplated by this Agreement or any Ancillary Document based upon arrangements made by or on behalf of Parent or Merger Subs. 

Section 4.08 Cash Resources. Parent has sufficient cash on hand or other sources of available funds to pay the Up-Front Cash Consideration to ABS at Closing on the terms set forth in this Agreement. 

Section 4.09 No Other Representations and Warranties. Except as expressly set forth in this Agreement and the
Ancillary Documents, neither Parent nor any of its agents, employees or representatives have made, nor are any of them making any representation or warranty, written or oral, express or implied, in respect of Parent or its businesses. ABS expressly
acknowledges and agrees that neither ABS nor any of its agents, employees or representatives is relying on any other representation or warranty of Parent or Merger Subs or any of their respective agents, employees or representatives, including
regarding the accuracy or completeness of any such other representations and warranties, whether express or implied. 
 ARTICLE V 

Covenants 

Section 5.01 Audit Assistance; Access to Information. ABS shall reasonably cooperate with
Parent and Parent’s independent public accountants, in connection with the completion of any audit or review of relevant historical financial statements of the Company, and provide Parent with reasonable access upon reasonable notice during
normal business hours to the personnel, books and records of ABS related to the business of the Company with respect to periods or occurrences prior to or on the Closing Date that Parent reasonably needs to comply with reporting, disclosure, filing
or other requirements to facilitate Parent’s initial public offering or otherwise imposed on Parent by all applicable Governmental Authorities having jurisdiction over Parent in connection with the transactions contemplated by this Agreement,
including, without limitation, any requirement under applicable securities laws to provide audited financial statements of the Company. Notwithstanding the foregoing, ABS may restrict the foregoing access to the extent that such access would
(i) violate Applicable Law, (ii) be in breach of any confidentiality obligation by which ABS or any of its Affiliates is bound as of the date of this Agreement, or (iii) result in a waiver of any legal privilege enjoyed by ABS or its
Affiliates; provided that ABS shall use commercially reasonable efforts to provide such access in a manner that does not violate any such Law or obligation or forfeit such privilege 

  
 24 

 Section 5.02 Publicity. 

(a) Each of ABS and Parent, and each of their respective Affiliates, shall not make any public announcements or communicate
with any news media in respect of this Agreement or the transactions contemplated hereby without the prior written consent of the other of ABS or Parent, and the parties shall cooperate as to the timing and contents of any such announcement;
provided, that this provision shall not preclude public announcements required by Applicable Law (subject to Section 5.02(c)) or as permitted by Section 5.02(b). 

(b) Promptly following the Effective Date, Parent and ABS shall mutually approve coordinated press releases with respect to
this Agreement and Parent and ABS may make subsequent public disclosure of the contents of such press releases following the earlier of (i) the date Parent publicly discloses a Clinical Trial on clinicaltrials.gov and (ii) March 31,
2021. Subject to the foregoing, Parent and ABS agree not to issue any press release or other public statement, whether oral or written, disclosing the terms hereof or any of the activities conducted hereunder without the prior written consent of the
other party, provided, however, that neither Parent nor ABS will be prevented from complying with any duty of disclosure it may have pursuant to Applicable Laws or pursuant to the rules of any recognized stock exchange or quotation
system, subject to that party notifying the other party of such duty and limiting such disclosure as reasonably requested by the other party (and giving the other party sufficient time to review and comment on any proposed disclosure. 

(c) The parties hereby acknowledge and agree that either Parent or ABS may be required by Applicable Laws to submit a copy of
this Agreement to SEC or any national or sub-national securities regulatory body in any jurisdiction (collectively, the “Securities Regulators”). If Parent or ABS is required by Applicable Laws to
submit a description of the terms of this Agreement to or file a copy of this Agreement with any Securities Regulator, such party agrees to consult and coordinate with the other party with respect to such disclosure or the preparation and submission
of a confidential treatment request for this Agreement. Notwithstanding the foregoing, if Parent or ABS is required by Applicable Laws to submit a description of the terms of this Agreement to or file a copy of this Agreement with any Securities
Regulator and such party has (i) promptly notified the other party in writing of such requirement and any respective timing constraints, (ii) provided copies of the proposed disclosure or filing to the other party reasonably in advance of
such filing or other disclosure and (iii) given the other party a reasonable time (not less than five (5) Business Days) under the circumstances to comment upon and request confidential treatment for such disclosure, then such party will
have the right to make such disclosure or filing at the time and in the manner reasonably determined by its counsel to be required by Applicable Laws or the applicable Securities Regulator. If a party seeks to make a disclosure or filing as set
forth in this Section 5.02(c) and the other party provides comments within the respective time periods or constraints specified herein, then the party seeking to make such disclosure or filing will in good faith consider incorporating such
comments. 

  
 25 

 Section 5.03 License Agreement Termination.
ABS’s right to terminate the License Agreement shall terminate (A) if Parent has paid to ABS all of the Merger Consideration (other than the Breakthrough Designation Milestone if the underlying event has not yet occurred), including
the issuance of the Up-Front Parent Shares and the Milestone Parent Shares, or (B) ABS’s equity interest in Parent issued to pursuant to this Agreement is publicly tradable on the Nasdaq Stock Market
or New York Stock Exchange and has a value equal to or greater than [***] U.S. dollars (USD $[***]) as more specifically set forth in Section 13.3(d) of the License Agreement. Notwithstanding
anything to the contrary in this Section 5.03 or Section 13.3(d) of the License Agreement, the limitation on termination described in clause (B) of this Section 5.03 or
Section 13.3(d) of the License Agreement shall not apply during any period in which ABS is contractually obligated to not dispose of its capital stock of Parent pursuant to a lock-up agreement entered
into with the underwriters of a public offering of Parent’s securities. None of the foregoing limitations on ABS’s right to terminate the License Agreement shall limit ABS’s rights to pursue damages or other available remedies for
Company’s breach of the License Agreement, including for a failure of Parent to pay ABS any sums otherwise payable under this Agreement. 

Section 5.04 Further Assurances. At and after the Effective Time, the officers and directors of the Surviving
Corporation shall be authorized to execute and deliver, in the name and behalf of the Company or Merger Subs, any deeds, bills of sale, assignments or assurances and to take and do, in the name and on behalf of the Company or Merger Subs, any other
actions and things to vest, perfect or confirm of record or otherwise in the Surviving Corporation any and all right, title and interest in, to and under any of the rights, properties or assets of the Company acquired or to be acquired by the
Surviving Corporation as a result of, or in connection with, the Merger. 
 ARTICLE VI 

Tax matters 

Section 6.01 Transfer Taxes. All transfer, documentary, sales, use, stamp, registration, value added
and other such Taxes and fees (including any penalties and interest) incurred in connection with this Agreement and the Ancillary Documents (including any real property transfer Tax and any other similar Tax) shall be borne and paid one-half by ABS and one-half by Parent when due. 

Section 6.02 Termination of Existing Tax Sharing Agreements. Any and all existing Tax sharing
agreements (whether written or not) binding upon the Company (other than any commercial agreements entered into in the ordinary and usual course of business, the principal purpose of which does not relate to Tax) shall be terminated as of the
Closing Date. After such date neither the Company nor any of its Representatives shall have any further rights or Liabilities thereunder. 

Section 6.03 Tax Returns. 

(a) The Company shall prepare and timely file, or cause to be prepared and timely filed, all Tax Returns required to be filed
by it that are due on or before the Closing Date (taking into account any extensions), and shall timely pay all Taxes that are due and payable on or before the Closing Date (taking into account any extensions). Any such Tax Return shall be prepared
in a manner consistent with past practice (unless otherwise required by Applicable Law). 

  
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 (b) Parent shall prepare and timely file, or cause to be prepared and timely
filed, all Tax Returns required to be filed by the Company after the Closing Date with respect to a Pre-Closing Tax Period and for any Straddle Period. Any such Tax Return shall be prepared in a manner
consistent with past practice (unless otherwise required by Applicable Law). If any such Tax Returns reflect a Tax with respect to a Pre-Closing Tax Period for which ABS may be liable, Parent shall submit a
copy of such Tax Return to ABS a reasonable time prior to filing (which, in the case of any income Tax Return shall be at least thirty-five (35) days prior to filing) for ABS’s review and comment, and Parent shall incorporate any
reasonable comments that ABS submits to Parent no less than five (5) Business Days prior to the due date of such Tax Return. ABS shall pay, or cause to be paid, to Parent all Taxes due with respect to such Tax Returns that are Pre-Closing Taxes at least five (5) days before timely payment of Taxes (including estimated Taxes) is due to the applicable taxing authority. 

(c) Parent shall not, and shall not cause or permit the Company to, (i) make any Tax election that has any retroactive
effect on Taxes in the portion of any Pre-Closing Tax Period ending on or prior to the Closing Date or (ii) amend or cause to be amended any Tax Return of the Company for any Pre-Closing Tax Period, in each case without the prior written consent of ABS (which consent shall not be unreasonably withheld, conditioned or delayed), unless such election or amendment filing would not reasonably
be expected to increase ABS’s liability for Taxes pursuant to this Agreement. 
 Section 6.04 Straddle
Period. In the case of Taxes that are payable with respect to a taxable period that begins on or before and ends after the Closing Date (each such period, a “Straddle Period”), the portion of any such Taxes that are
treated as Pre-Closing Taxes for purposes of this Agreement shall be: 
 (a) in the
case of Taxes (i) based upon, or related to, income, receipts, profits, wages, capital or net worth, (ii) imposed in connection with the sale, transfer or assignment of property, or (iii) required to be withheld, deemed equal to the
amount which would be payable if the taxable year ended at the close of the Closing Date; and 
 (b) in the case of other
Taxes, deemed to be the amount of such Taxes for the entire period multiplied by a fraction the numerator of which is the number of days in the period ending on the Closing Date and the denominator of which is the number of days in the entire
period, except that exemptions, allowances or deductions that are calculated on an annual basis (including depreciation and amortization deductions), other than with respect to property placed in service after Closing, shall be allocated on a per
diem basis. 
 Section 6.05 Contests. Parent agrees to give written notice to ABS of the receipt of
any written notice by the Company, Parent or any of Parent’s Affiliates which involves the assertion of any claim, or the commencement of any Action, relating to Taxes of the Company in respect of which an indemnity may be sought by Parent
pursuant to Section 7.02 (a “Tax Claim”); provided, that failure to comply with this provision shall not affect Parent’s right to indemnification hereunder. Parent shall control the contest or
resolution of any Tax Claim; provided, however, that Parent shall obtain the prior written consent of ABS (which consent shall not be unreasonably withheld or delayed) before entering into any settlement of a claim or ceasing to
defend such claim; and, provided further, that ABS shall be entitled to participate in the defense of such claim and to employ counsel of its choice for such purpose, the fees and expenses of which separate counsel shall be borne
solely by ABS. 

  
 27 

 Section 6.06 Cooperation and Exchange of Information.
ABS, the Company and Parent shall provide each other with such cooperation and information as either of them reasonably may request of the others in filing any Tax Return pursuant to this Article VI or in connection with any audit or
other proceeding in respect of Taxes of the Company. Such cooperation and information shall include providing copies of relevant Tax Returns or portions thereof, together with accompanying schedules, related work papers and documents relating to
rulings or other determinations by taxing authorities. Each of ABS, the Company and Parent shall retain all Tax Returns, schedules and work papers, records and other documents in its possession relating to Tax matters of the Company for any taxable
period beginning before the Closing Date until the expiration of the statute of limitations of the taxable periods to which such Tax Returns and other documents relate, without regard to extensions except to the extent notified by any of the other
parties in writing of such extensions for the respective Tax periods. Prior to transferring, destroying or discarding any Tax Returns, schedules and work papers, records and other documents in its possession relating to Tax matters of the Company
for any taxable period beginning before the Closing Date, ABS, the Company or Parent (as the case may be) shall provide the other parties with reasonable written notice and offer the other parties the opportunity to take custody of such materials.

 Section 6.07 FIRPTA Statement. On the Closing Date, the Company shall deliver to Parent, in form
and substance reasonably acceptable to Parent, (i) a certificate, dated as of the Closing Date, certifying to the effect that no interest in the Company is a U.S. real property interest (such certificate meeting the requirements of Treasury
Regulation Section 1.897-2(h) and 1.1445-2(c)(3)) and (ii) written authorization for Parent to deliver such certificate to the Internal Revenue Service on behalf of the Company upon closing (collectively, the “FIRPTA
Statement”). 
 Section 6.08 Survival. Notwithstanding anything in this Agreement to the
contrary, the provisions of Section 3.10 and this Article VI shall survive for the full period of all applicable statutes of limitations (giving effect to any waiver, mitigation or extension thereof) plus
sixty (60) days. 
 Section 6.09 Tax Consequences. The parties hereto intend that the Merger
qualify as a “reorganization” within the meaning of Section 368(a) of the Code, and that this Agreement be a “plan of reorganization” for purposes of Sections 354 and 361 of the Code and within the meaning of Section 1.368-2(g) of the Treasury Regulations. Each of Parent, the Merger Subs, ABS and the Company shall not take any reporting position inconsistent therewith for income Tax purposes, unless otherwise
required by a “determination” within the meaning of Section 1313(a) of the Code. None of Parent, the Merger Subs, ABS or the Company shall take any action to prevent the Merger from qualifying as a “reorganization” within
the meaning of Section 368(a) of the Code. 
 Section 6.10 Overlap. To the extent that any
obligation or responsibility pursuant to Article VII may overlap with an obligation or responsibility pursuant to this Article VI, the provisions of this Article VI shall govern. 

  
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 ARTICLE VII 

Indemnification 

Section 7.01 Survival. Subject to the limitations and other provisions of this Agreement, the
representations and warranties contained herein (other than any representations or warranties contained in Section 3.10 which are subject to Article VI) shall survive the Closing and shall remain in full force and effect
until the second (2nd) anniversary of the Closing Date. For the avoidance of doubt, the foregoing shall not apply to the representations and warranties under the License Agreement. All covenants
and agreements of the parties contained herein (other than any covenants or agreements contained in Article VI which are subject to Article VI) shall survive the Closing indefinitely or, if shorter, for the period explicitly specified
therein. Notwithstanding the foregoing, any claims asserted in good faith with reasonable specificity (to the extent known at such time) and in writing by notice from the Indemnified Party to the Indemnifying Party prior to the expiration date of
the applicable survival period shall not thereafter be barred by the expiration of the relevant representation or warranty or survival period and such claims shall survive until finally resolved. 

Section 7.02 Indemnification by ABS. Subject to the other terms and conditions of this
Article VII, ABS shall indemnify and defend each of Parent and its Affiliates (including the Surviving Corporation) and their respective Representatives (collectively, the “Parent Indemnitees”) against, and shall hold each of
them harmless from and against, and shall pay and reimburse each of them for, any and all Losses incurred or sustained by, or imposed upon, the Parent Indemnitees based upon, arising out of, with respect to or by reason of: 

(a) any inaccuracy in or breach of any of the representations or warranties of ABS or the Company contained in this Agreement
or in any certificate delivered pursuant to Section 2.03(a)(ii) and Section 2.03(a)(iii) by or on behalf of ABS or the Company, as of the date such representation or warranty was made or as if such representation or warranty was made on
and as of the Closing Date (except for representations and warranties that expressly relate to a specified date, the inaccuracy in or breach of which will be determined with reference to such specified date); 

(b) any breach or non-fulfillment of any covenant, agreement or obligation to be
performed by ABS or, to the extent attributable to any breach prior to the Closing, the Company pursuant to this Agreement (other than any breach or violation of, or failure to fully perform, any covenant, agreement, undertaking or obligation in
Article VI, it being understood that the sole remedy for any such breach, violation or failure shall be pursuant to Article VI); 

(c) (i) all Pre-Closing Taxes; (ii) all Taxes of any member of an affiliated,
consolidated, combined or unitary group of which the Company (or any predecessor of the Company) is or was a member on or prior to the Closing Date by reason of a liability under Treasury Regulation
Section 1.1502-6 or any comparable provisions of state, local or non-U.S. Tax Law; (iii) any and all Taxes of any person imposed on the Company arising under
the principles of transferee or successor liability or by contract, relating to an event or transaction occurring before the Closing Date; and (iv) Taxes imposed on or payable by third parties with respect to which the Company or any of its
subsidiaries has an obligation to indemnify such third party pursuant to a transaction consummated on or prior to the Closing; or 

  
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 (d) any Liabilities or Indebtedness of the Company arising directly from the
Development or manufacture of the Licensed Products by or on behalf of the Company or any of its Affiliates prior to the Closing. 

Section 7.03 Indemnification by Parent. Subject to the other terms and conditions of this Article
VII, Parent shall indemnify and defend each of ABS and its Affiliates and their respective Representatives (collectively, the “ABS Indemnitees”) against, and shall hold each of them harmless from and against, and shall pay and
reimburse each of them for, any and all Losses incurred or sustained by, or imposed upon, the ABS Indemnitees based upon, arising out of, with respect to or by reason of: 

(a) any inaccuracy in or breach of any of the representations or warranties of Parent and Merger Subs contained in this
Agreement or in any certificate delivered pursuant to Section 2.03(b)(ii) and Section 2.03(b)(iii) by or on behalf of Parent or Merger Subs, as of the date such representation or warranty was made or as if such representation or warranty
was made on and as of the Closing Date (except for representations and warranties that expressly relate to a specified date, the inaccuracy in or breach of which will be determined with reference to such specified date); 

(b) any breach or non-fulfillment of any covenant, agreement or obligation to be
performed by Parent or Merger Subs pursuant to this Agreement (other than any breach or violation of, or failure to fully perform, any covenant, agreement, undertaking or obligation in Article VI, it being understood that the sole remedy for any
such breach, violation or failure shall be pursuant to Article VI); or 
 (c) any Liabilities or Indebtedness of the Company
arising from events, occurrences or circumstances after the Closing; except to the extent attributable to any breach of the License Agreement by ABS. 

Section 7.04 Certain Limitations. Notwithstanding anything to the contrary contained herein, (i) the amount of
any Loss subject to recovery under this Article VII shall be calculated net of (A) any amounts recovered by an Indemnified Party with respect to such Loss pursuant to any indemnification by or indemnification agreement with any third party and
(B) any insurance proceeds or other cash receipts actually received as an offset against such Loss and (ii) to the extent required by applicable law, each party shall take commercially reasonable steps to mitigate any of its Losses
indemnifiable pursuant to this Article VII upon becoming aware of any event which would reasonably be expected to, or does, give rise thereto. If the amount to be netted hereunder from any payment required under this Article VII is determined after
payment by the Indemnifying Party of any amount otherwise required to be paid to an Indemnified Party under this Article VII, the Indemnified Party shall repay to the Indemnifying Party, promptly after such determination, any amount that the
Indemnifying Party would not have had to pay pursuant to this Article VII had such determination been made at the time of such payment. A party shall use commercially reasonable efforts to recover under any insurance policies for any Loss.
Notwithstanding anything to the contrary contained herein, in no event shall any party be required to institute an Action against any 

  
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insurer or any other Person. Notwithstanding the fact that any Indemnified Party may have the right to assert claims for indemnification under or in respect of more than one provision of this
Agreement in respect of any fact, event, condition or circumstance, no Indemnified Party shall be entitled to recover the amount of any Loss suffered by such Indemnified Party more than once, regardless of whether such Loss may be as a result of a
breach of more than one representation, warranty, obligation or covenant or otherwise. In addition, any liability for indemnification hereunder shall be determined without duplication of recovery by reason of the state of facts giving rise to such
liability, or a breach of more than one representation, warranty, covenant or agreement, as applicable. In no event shall the aggregate amount of Losses that the Parent Indemnitees are entitled to receive under Section 7.02 plus ABS’s
liability in connection with the License Agreement, in the aggregate, exceed the amount of Merger Consideration (with the Up-Front Parent Shares being valued, for purposes of this Section 7.04 and
Section 11.4 of the License Agreement, at $[***] and the Milestone Parent Shares being valued, for purposes of this Section 7.04 and Section 11.4 of the License Agreement, at $[***]) actually paid or issued, as applicable, hereunder.
The Parties acknowledge that such amount (but not such valuation) may increase over time as the Development Milestone Payments are made. 

Section 7.05 Indemnification Procedures. The party making a claim under this Article VII is
referred to as the “Indemnified Party”, and the party against whom such claims are asserted under this Article VII is referred to as the “Indemnifying Party.” 

(a) Third Party Claims. If any Indemnified Party receives notice of the assertion or commencement of any Action made or
brought by any Person who is not a party to this Agreement or an Affiliate of a party to this Agreement or a Representative of the foregoing (a “Third Party Claim”) against such Indemnified Party with respect to which the Indemnifying
Party is obligated to provide indemnification under this Agreement, the Indemnified Party shall give the Indemnifying Party reasonably prompt written notice thereof, but in any event not later than thirty (30) calendar days after receipt of
such notice of such Third Party Claim. The failure to give such prompt written notice shall not, however, relieve the Indemnifying Party of its indemnification obligations, except and only to the extent that the Indemnifying Party forfeits rights or
defenses by reason of such failure. Such notice by the Indemnified Party shall describe the Third Party Claim in reasonable detail, shall include copies of all material written evidence thereof and shall indicate the estimated amount, if reasonably
practicable, of the Loss that has been or may be sustained by the Indemnified Party. The Indemnifying Party shall have the right to participate in, or by giving written notice to the Indemnified Party within thirty (30) calendar days after
receipt of notice of the Third Party Claim, to assume the defense of any Third Party Claim at the Indemnifying Party’s expense and by the Indemnifying Party’s own counsel, and the Indemnified Party shall cooperate in good faith in such
defense; provided, however, that the (i) defense of such Third Party Claim by the Indemnifying Party will not, in the reasonable judgment of the Indemnified Party, have a material adverse effect on the Indemnified Party; (ii) the
Indemnifying Party has sufficient financial resources, in the reasonable judgment of the Indemnified Party, to satisfy the amount of any adverse monetary judgment that is reasonably likely to result; (iii) the Third Party Claim solely seeks
(and continues to seek) monetary damages; (iv) the Third Party Claim does not include criminal charges, and (v) the Indemnifying Party expressly agrees in writing to be fully responsible for all Losses relating to such Third Party Claim,
(the 

  
 31 

 
conditions set forth in clauses (i) through (v) are, collectively, the “Litigation Conditions”). In the event that the Indemnifying Party assumes the defense of any Third Party
Claim, subject to Section 7.05(b), it shall have the right to take such action as it deems necessary to avoid, dispute, defend, appeal or make counterclaims pertaining to any such Third Party Claim in the name and on behalf of the Indemnified
Party. The Indemnified Party shall have the right to participate in the defense of any Third Party Claim with counsel selected by it subject to the Indemnifying Party’s right to control the defense thereof. The fees and disbursements of such
counsel shall be at the expense of the Indemnified Party, provided, that if in the reasonable opinion of counsel to the Indemnified Party, (A) there are legal defenses available to an Indemnified Party that are different from or
additional to those available to the Indemnifying Party; (B) any of the Litigation Conditions ceases to be met; or (C) the Indemnified Party’s counsel advises that there exists a conflict of interest between the Indemnifying Party and
the Indemnified Party that cannot be waived, the Indemnifying Party shall be liable for the reasonable fees and expenses of counsel to the Indemnified Party in each jurisdiction for which the Indemnified Party determines counsel is required. If the
Indemnifying Party elects not to compromise or defend such Third Party Claim, fails to promptly notify the Indemnified Party in writing of its election to defend as provided in this Agreement, or fails to diligently prosecute the defense of such
Third Party Claim, the Indemnified Party may, subject to Section 7.05(b), pay, compromise and/or defend such Third Party Claim and seek indemnification for any and all Losses based upon, arising from or relating to such Third Party Claim. ABS
and Parent shall cooperate with each other in all reasonable respects in connection with the defense of any Third Party Claim, including making available records relating to such Third Party Claim and furnishing, without expense (other than
reimbursement of actual out-of-pocket expenses) to the defending party, management employees of the non-defending party as may be
reasonably necessary for the preparation of the defense of such Third Party Claim. 
 (b) Settlement of Third Party Claims.
Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not enter into settlement of any Third Party Claim without the prior written consent of the Indemnified Party, except as provided in this Section 7.05(b). The
Indemnifying Party, if it has assumed the defense of any Third Party Claim as provided in this Agreement, may not, without the prior written consent of the Indemnified Party, consent to a settlement of, or the entry of any judgment arising from, any
such Third Party Claim that (i) does not include as an unconditional term thereof the giving by the claimant or the plaintiff to the Indemnified Party of a complete release from all liability in respect of such Third Party Claim,
(ii) grants any injunctive or equitable relief or (iii) may reasonably be expected to have an adverse effect on the Indemnified Party. If the Indemnified Party has assumed the defense pursuant to Section 7.05(a), it shall not agree to
any settlement without the written consent of the Indemnifying Party (which consent shall not be unreasonably withheld, conditioned or delayed). 

  
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 (c) Direct Claims. Any Action by an Indemnified Party on account of a Loss
which does not result from a Third Party Claim (a “Direct Claim”) shall be asserted by the Indemnified Party giving the Indemnifying Party reasonably prompt written notice thereof (a “Direct Claim Notice”). The failure to give
such prompt written notice shall not, however, relieve the Indemnifying Party of its indemnification obligations, except and only to the extent that the Indemnifying Party forfeits rights or defenses by reason of such failure. The Direct Claim
Notice shall describe the Direct Claim in reasonable detail, shall include copies of all material written evidence thereof and shall indicate the estimated amount, if reasonably practicable, of the Loss that has been or may be sustained by the
Indemnified Party. The Indemnifying Party shall have thirty (30) days after its receipt of such notice to respond in writing to such Direct Claim. The Indemnified Party shall allow the Indemnifying Party and its professional advisors to
investigate the matter or circumstance alleged to give rise to the Direct Claim, and whether and to what extent any amount is payable in respect of the Direct Claim and the Indemnified Party shall assist the Indemnifying Party’s investigation
by giving such information and assistance (including reasonable access to the Company’s premises and personnel and the right to examine and copy any accounts, documents or records) as the Indemnifying Party or any of its professional advisors
may reasonably request. If the Indemnifying Party does not so respond within such thirty (30)-day period, then each claim for indemnification set forth in such Direct Claim Notice shall be deemed to have been
conclusively determined in favor of the Indemnified Party for purposes of this Article VII on the terms set forth in the Direct Claim Notice, in which case the Indemnified Party shall be free to pursue such remedies as may be available to the
Indemnified Party on the terms and subject to the provisions of this Agreement. 
 Section 7.06 Payments.
Once a Loss is agreed to by the Indemnifying Party or finally determined or adjudicated to be payable pursuant to this Article VII, the Indemnifying Party shall satisfy its obligations within fifteen (15) Business Days of such agreement,
final determination or final, non-appealable adjudication by wire transfer of immediately available funds. 

Section 7.07 Tax Treatment of Indemnification Payments. All indemnification payments made under this
Agreement shall be treated by the parties as an adjustment to the Merger Consideration for Tax purposes, unless otherwise required by Applicable Law. 

Section 7.08 Exclusive Remedies. Subject to Section 8.11, the parties
acknowledge and agree that their sole and exclusive remedy with respect to any and all claims (other than claims arising from fraud, criminal activity or willful misconduct on the part of a party hereto in connection with the transactions
contemplated by this Agreement) for any breach of any representation, warranty, covenant, agreement or obligation set forth herein or otherwise relating to the subject matter of this Agreement, shall be pursuant to the indemnification provisions set
forth in Article VI and this Article VII. In furtherance of the foregoing, each party hereby waives, to the fullest extent permitted under Law, any and all rights, claims and causes of action for any breach of any representation,
warranty, covenant, agreement or obligation set forth herein or otherwise relating to the subject matter of this Agreement it may have against the other parties hereto and their Affiliates and each of their respective Representatives arising under
or based upon any Applicable Law, except pursuant to the indemnification provisions set forth in Article VI and this Article VII. Nothing in this Section 7.08 shall limit any Person’s right to seek and
obtain any equitable relief to which any Person shall be entitled or to seek any remedy on account of any party’s fraudulent, criminal or willful misconduct. For the avoidance of doubt, and notwithstanding any provision of this Agreement to the
contrary, nothing herein shall limit the recourse of a party to the License Agreement in accordance with its terms or any remedies available to a party in law or equity related to the License Agreement. 

  
 33 

 Section 7.09 No Subrogation. The Indemnifying Party shall
not be entitled to exercise, and shall not be subrogated to, any rights and remedies (including rights of indemnity, rights of contribution and other rights of recovery) that the Indemnified Party or any of its Affiliates may have against any other
Person with respect to any Losses, circumstances or matters to which such indemnification is directly or indirectly related. 
 ARTICLE
VIII 
 Miscellaneous 

Section 8.01 Expenses. Except as otherwise expressly provided herein, all costs and expenses,
including fees and disbursements of counsel, financial advisors and accountants, incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the party incurring such costs and expenses, whether or not the
Closing shall have occurred. 
 Section 8.02 Notices. All notices, consents or waivers under
this Agreement shall be in writing and will be deemed to have been duly given when (a) scanned and converted into a portable document format file (i.e., pdf file), and sent as an attachment to an
e-mail message, where, when such message is received, a read receipt e-mail is received by the sender (and such read receipt
e-mail is preserved by the party sending the notice); provided further that a copy is promptly sent by an internationally recognized overnight delivery service (receipt requested)(although the
sending of the e-mail message shall be when the notice is deemed to have been given), or (b) the earlier of when received by the addressee or five (5) days after it was sent, if sent by registered
letter or overnight courier by an internationally recognized overnight delivery service (receipt requested), in each case to the appropriate addresses and e-mail addresses set forth below (or to such other
addresses and e-mail addresses as a party may designate by notice): 
  

			
	If to ABS:	  	Asana BioSciences, LLC
		  	997 Lenox Drive, Suite 220
		  	Princeton Pike Corporate Center
		  	Lawrenceville, NJ 08648
		  	Attention: CEO
		
	With a copy to:	  	Avtar Enterprise, LLC
		  	400 Crossing Boulevard, 7th Floor
		  	Bridgewater, NJ 08807
		  	Attention: Legal Department
		
		  	and:
		
		  	Tarsadia
		  	520 Newport Center Drive, Twenty-First Floor
		  	Newport Beach, CA 92660
		  	Attention: Legal Department

  
 34 

			
	If to Parent or Merger Subs:	  	Erasca, Inc.
		  	10835 Road to the Cure, Suite 140
		  	San Diego, CA 92121
		  	Attention: Legal Department
		  	Email: legal@erasca.com
		
	With a copy to:	  	Latham & Watkins LLP
		  	12670 High Bluff Drive
		  	San Diego, CA 92130
		  	Attention: Cheston J. Larson, Esq.
		
		  	and:
		
		  	Fenwick & West LLP
		  	555 California Street #12
		  	San Francisco, CA 94104
		  	Attention: Jake Handy, Esq.

 Section 8.03 Interpretation. For purposes of this Agreement,
(a) the words “include,” “includes” and “including” shall be deemed to be followed by the words “without limitation”; (b) the word “or” is not exclusive; and (c) the words
“herein,” “hereof,” “hereby,” “hereto” and “hereunder” refer to this Agreement as a whole. Unless the context otherwise requires, references herein: (x) to Articles, Sections, Disclosure
Schedules, Schedules and Exhibits mean the articles and sections of, and Disclosure Schedules, schedules and exhibits attached to, this Agreement; (y) to an agreement, instrument or other document means such agreement, instrument or other
document as amended, supplemented and modified from time to time to the extent permitted by the provisions thereof and (z) to a statute or other Applicable Law means such statute or other Applicable Law as amended from time to time and includes
any successor legislation thereto and any regulations promulgated thereunder. When reference is made in this Agreement to information that has been “made available” to Parent, that shall consist of only the information that was
(i) contained in the Company’s electronic data room no later than 5:00 p.m., Eastern time, on the Business Day prior to the date of this Agreement or (ii) delivered to the Parent or its counsel. This Agreement shall be construed without
regard to any presumption or rule requiring construction or interpretation against the party drafting an instrument or causing any instrument to be drafted. The Disclosure Schedules, Schedules and Exhibits referred to herein shall be construed with,
and as an integral part of, this Agreement to the same extent as if they were set forth verbatim herein. 

Section 8.04 Headings. The headings in this Agreement are for reference only and shall not affect the
interpretation of this Agreement. 
 Section 8.05 Severability. If any term or provision of this
Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any
other jurisdiction. Upon such determination that any term or other provision is invalid, illegal or unenforceable, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as
closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the greatest extent possible. 

  
 35 

 Section 8.06 Entire Agreement. This Agreement, the
License Agreement and the Ancillary Documents constitute the sole and entire agreement of the parties to this Agreement with respect to the subject matter, including that certain Confidentiality Agreement between the Parent and ABS dated
August 14, 2020 (the “Confidentiality Agreement”). All information exchanged between Parent and ABS under the Confidentiality Agreement shall be deemed to have been disclosed under the License Agreement and shall be subject to
the terms of Article 9 thereof, substituting references to Parent for references to Company therein. contained herein and therein, and supersede all prior and contemporaneous understandings and agreements, both written and oral, with respect to such
subject matter. In the event of any inconsistency between the statements in the body of this Agreement and those in the Ancillary Documents, the Exhibits, Schedules and Disclosure Schedules (other than an exception expressly set forth as such in the
Disclosure Schedules), the statements in the body of this Agreement will control. In the event that the terms of this Agreement and the License Agreement conflict, then the terms of this Agreement shall control with respect to matters pertaining to
any payment to be made pursuant to this Agreement, and the License Agreement shall control in all other respects. 

Section 8.07 Successors and Assigns. Except as otherwise permitted by
Section 2.12(d), this Agreement may not be assigned or otherwise transferred by any party without the prior written consent of the other parties. Any purported assignment in violation of the preceding sentence shall be
void; provided however, that (and notwithstanding anything elsewhere in this Agreement to the contrary) each of Parent and ABS may, without the written consent of the any other party to this agreement, assign this Agreement and its rights and
obligations hereunder in whole or in part (a) to an Affiliate or, with respect to Parent, to a Person controlled, directly or indirectly, by any Majority Investor or group of Majority Investors or (b) in connection with the transfer or
sale of all or substantially all of its assets or business related to the subject matter of this Agreement, or in the event of its merger or consolidation or similar transaction. Notwithstanding the foregoing, neither Parent nor ABS may, except as
otherwise permitted by Section 2.12(d), assign this Agreement without obtaining the consent of ABS or Parent, respectively, unless such assignee expressly agrees to be bound by and perform the obligations of Parent or ABS,
as applicable hereunder, and Parent or ABS, as applicable shall remain obligated for performance of such obligations. 

Section 8.08 No Third-party Beneficiaries. Except as provided in Article VII, this Agreement is
for the sole benefit of the parties hereto and their respective successors and permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other Person or entity any legal or equitable right, benefit or remedy
of any nature whatsoever under or by reason of this Agreement. 
 Section 8.09 Amendment and Modification;
Waiver. At any time prior to the Effective Time, this Agreement may only be amended, modified or supplemented by an agreement in writing signed by Parent, Merger Subs, ABS and the Company. Any failure of Parent or Merger Subs, on the one
hand, or ABS and the Company, on the other hand, to comply with any obligation, covenant, agreement or condition herein may be waived by ABS and the Company (with respect to any failure by Parent or Merger Subs) or by Parent or Merger Subs (with
respect to any failure by ABS or the Company), respectively, only by a written instrument signed by the party granting such waiver, but such waiver or failure to insist upon strict compliance with such obligation, covenant, agreement or condition
shall not operate as a waiver of, or estoppel with respect to, any subsequent or other failure. After the Effective Time, this Agreement may only be amended, modified or supplemented by an agreement in writing signed by Parent and ABS. 

  
 36 

 Section 8.10 Governing Law; Dispute Resolution. 

(a) This Agreement shall be governed by and construed in accordance with the internal laws of the State of Delaware without
giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction). 

(b) If any dispute, claim or controversy of any nature arising out of or relating to this Agreement, including any action or
claim based on equity, tort, contract or statute, or concerning the interpretation, effect, termination, validity, performance or breach of this Agreement (each, a “Dispute”), arises between the parties and the parties cannot resolve such
Dispute through good faith discussions, within thirty (30) days of a written request by either ABS or Parent to the other party (“Notice of Dispute”), either ABS or Parent may refer the Dispute to the Chief Executive Officer of ABS
(or an executive officer of ABS designated by the Chief Executive Officer of ABS who has the power and authority to resolve such matter) and the Chief Executive Officer of Parent (or an executive officer of Parent designated by the Chief Executive
Officer of Parent who has the power and authority to resolve such matter) (collectively, the “Executive Officers”) for resolution. Each of ABS and Parent, within five (5) Business Days after a party has received such written request
from the other party to so refer such Dispute, shall notify the other party in writing of the Executive Officer to whom such dispute is referred. If, after an additional sixty (60) days after the Notice of Dispute, such Executive Officers have
not succeeded in negotiating a resolution of the Dispute, and a party wishes to pursue the matter, then either party may initiate legal proceedings with respect thereto in accordance with this Section 8.10. 

(c) With respect to any Dispute, each of the parties: (i) irrevocably consents to the exclusive jurisdiction and venue in
the Delaware Court of Chancery within the State of Delaware (or, if the Delaware Court of Chancery declines to accept jurisdiction over a particular matter, any court of the United States located in the State of Delaware, or, if any such court of
the United States located in the State of Delaware declines to accept jurisdiction over a particular matter, any state court located in the State of Delaware); (ii) agrees not to commence any legal proceedings relating to or arising out of this
Agreement or the transactions contemplated hereby in any jurisdiction or courts other than as provided in this Section 8.10; (iii) waives its right to a jury trial; (iv) agrees that process shall be served upon such party in the manner set
forth in Section 8.02, and that service in such manner shall constitute valid and sufficient service of process; and (v) waives and covenants not to assert or plead any objection that such party might otherwise have to such jurisdiction,
venue or process, including that any suit or proceeding brought in any such court has been brought in an inconvenient forum. Notwithstanding the foregoing, a party will be entitled to seek enforcement of a judgment entered pursuant to this
Section 8.10 in any court having competent jurisdiction thereof where enforcement is deemed necessary. 

  
 37 

 (d) Notwithstanding the foregoing, any Excluded Claim may be submitted by
any party to any court of competent jurisdiction over such Excluded Claim. As used in this Section 10.10, the term “Excluded Claim” means any dispute, controversy or claim that concerns (i) the validity, enforceability or
infringement of any patent, trademark or copyright, or (ii) any antitrust, anti-monopoly or competition law or regulation, whether or not statutory 

(e) Notwithstanding anything in this Section 8.10 to the contrary, each party shall have the right to apply to any court
of competent jurisdiction for appropriate interim or provisional relief, as necessary to protect the rights or property of such party, for clarity, without the necessity of complying with the provisions of Section 8.10. 

Section 8.11 Specific Performance. The parties agree that irreparable damage would occur if any
provision of this Agreement were not performed in accordance with the terms hereof and that the parties shall be entitled to specific performance of the terms hereof, in addition to any other remedy to which they are entitled at law or in equity
without the necessity of posting any bond or other security. 
 Section 8.12 Counterparts. This
Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall be deemed to be one and the same agreement. A signature page to this Agreement delivered by facsimile, e-mail or other means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement. 

[Signature Page Follows] 

  
 38 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date first
written above. 
  

			
	COMPANY:
	
	ASN PRODUCT DEVELOPMENT, INC.
		
	By:	 	 /s/ Sandeep Gupta

	Name: Sandeep Gupta
	Title: President and CEO
		
	ABS:	 	
	
	ASANA BIOSCIENCES, LLC
		
	By:	 	 /s/ Sandeep Gupta

	Name: Sandeep Gupta
	Title: President and CEO

 [Signature Page to Agreement and Plan of Merger] 

 
			
	PARENT:
	
	ERASCA, INC.
		
	By:	 	 /s/ Jonathan E. Lim, MD

	Name: Jonathan E. Lim, MD
	Title: Chief Executive Officer
	
	MERGER SUB I:
	
	ERASCA – ASN PRODUCT DEVELOPMENT—MERGER SUB I, INC.
		
	By:	 	 /s/ Jonathan E. Lim, MD

	Name: Jonathan E. Lim, MD
	Title: Chief Executive Officer
	
	MERGER SUB II:
	
	ERASCA – ASN PRODUCT DEVELOPMENT—MERGER SUB II, INC.
		
	By:	 	 /s/ Jonathan E. Lim, MD

	Name: Jonathan E. Lim, MD
	Title: Chief Executive Officer

 [Signature Page to Agreement and Plan of Merger] 

 EXHIBIT A 

AMENDED AND RESTATED LICENSE AGREEMENT 

[Filed separately] 

 EXHIBIT B 

[***] MILESTONE SUCCESS CRITERIA 

[***] 

 EXHIBIT C 

SHARE ISSUANCE LETTER 
 [***]EX-10.25

 Exhibit 10.25 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) WOULD
BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. 
 AMENDED AND RESTATED LICENSE AGREEMENT 

This AMENDED AND RESTATED LICENSE
AGREEMENT (this “Agreement”) is made as of November 23, 2020 (the “Effective Date”), by and between ASANA
BIOSCIENCES, LLC, a limited liability company organized and existing under the laws of the State of Delaware (“Asana”) and ASN PRODUCT DEVELOPMENT,
INC., a corporation organized and existing under the laws of the State of Delaware (“Company”). Asana and Company are referred to in this Agreement individually as a “Party” and collectively as
the “Parties.” 
 BACKGROUND 

A. Asana is a biopharmaceutical company that is developing certain proprietary compounds for the treatment of cancer and controls
certain patents and know-how relating to such compounds; 
 B. Company is a biopharmaceutical
company engaged in the research, development and commercialization of biopharmaceutical products, and is a wholly owned subsidiary of Asana; 

C. The Parties entered into that certain License Agreement dated March 1, 2020 (the “Original Agreement”) pursuant
to which Company obtained from Asana an exclusive license to develop and commercialize certain of such compounds in the Field in the Territory (each as defined below); 

D. The Parties desire to amend and restate the Original Agreement in its entirety, all in accordance with the terms and conditions set
forth herein; and 
 E. Simultaneously with entering into this Agreement, Erasca, Inc. (“Parent”), Erasca – ASN
Product Development – Merger Sub I, Inc., Erasca – ASN Product Development – Merger Sub II, Inc. and the Parties are entering into the Merger Agreement (as defined below) on the terms and conditions set forth therein. 

NOW THEREFORE, in consideration of the mutual covenants and agreements contained herein below, and other good and valuable
consideration, the sufficiency of which is hereby acknowledged by both Parties, the Parties agree as follows: 
 ARTICLE 1 

DEFINITIONS & INTERPRETATION 

Whenever used in this Agreement with an initial capital letter, the terms defined in this Article 1 and elsewhere in this Agreement, whether
used in the singular or plural, shall have the meanings specified. Terms used in this Agreement with an initial capital letter, and not defined in this Article 1 or elsewhere in this Agreement, whether used in the singular or plural, shall have the
meanings ascribed to them in the Merger Agreement. 

  
 1 

 1.1 “Acquiring Entity” means, collectively, the Third Party
referenced in the definition of Acquisition and such Third Party’s Affiliates, other than the applicable Party in the definition of Acquisition and such Party’s Affiliates determined immediately prior to the closing of such Acquisition.

 1.2 “Acquisition” shall mean: (a) a merger involving a Party, in which the shareholders of such Party
immediately prior to such merger cease to control (as defined in Section 1.4) such Party after such merger; (b) a sale of all or substantially all of the business or assets of a Party to an acquiring entity; or (c) a sale of a
controlling (as defined in Section 1.4) interest of a Party to an acquiring entity.  
 1.3 “Active
Ingredient” means the clinically active material(s) that provides pharmacological activity in a pharmaceutical product (excluding formulation components such as coatings, stabilizers, excipients or solvents, adjuvants or controlled release
technologies). 
 1.4 “Affiliate” means, with respect to a Person, any other Person controlling, controlled by or
under common control with such Person, for so long as such control exists. For purposes of this Section 1.4 only, “control” means (i) direct or indirect ownership of more than fifty percent (50%) of the stock, shares or other
equity interests having the right to vote for the election of directors of such entity or (ii) the possession, directly or indirectly, of the power to direct, or cause the direction of, the management or policies of such entity, whether through
the ownership of voting securities, by contract or otherwise. Notwithstanding the foregoing, with respect to each of Asana and Company, “Affiliates” will exclude Chirag Patel, Chintu Patel and Gautam Patel (each, a “Majority
Investor”) and any other Person controlled, directly or indirectly, or trust created or controlled, by any Majority Investor or group of Majority Investors. For purposes of this Agreement, neither Asana nor ASN Product Development, Inc.
will be deemed to be an Affiliate of the other. 
 1.5 “Applicable Laws” means collectively all laws, regulations,
ordinances, decrees, judicial and administrative orders (and any license, franchise, permit or similar right granted under any of the foregoing) and any other requirements of any applicable Governmental Authority that govern or otherwise apply to a
Party’s activities in connection with this Agreement. 
 1.6 “[***]” means that certain compound known as of the
Effective Date as [***] as further described in Exhibit 1.6. 
 1.7 “ASN007” means that certain compound known
as of the Effective Date as ASN007, as further described in Exhibit 1.7. 
 1.8 “Assigned Contract”
means each agreement between Asana and a CMO that is related solely to the manufacture of the Licensed Compounds and is set forth on Exhibit 1.8. 

  
 2 

 1.9 “Breakthrough Designation” means the designation of a drug as a
breakthrough therapy by the FDA pursuant to Section 506(a) of the Federal Food Drug and Cosmetic Act (21 U.S.C. §356(a)), as amended by Section 902 of the Food and Drug Administration Safety and Innovation Act and as may be amended
further from time to time. 
 1.10 “Breakthrough Designation Milestone” means the achievement of Breakthrough
Designation from the FDA for a Licensed Product, as a single agent or combination product. 
 1.11 “Business Day”
means a day other than a Saturday, Sunday or any other day on which banking institutions in New York, New York, U.S.A. are authorized or required by Applicable Laws to remain closed. 

1.12 “Calendar Quarter” means the period beginning on the Effective Date and ending on the last day of the calendar
quarter in which the Effective Date falls, and thereafter each successive period of three (3) consecutive calendar months ending on March 31, June 30, September 30 and December 31; provided, that, the final Calendar Quarter shall
end on the last day of the Term. 
 1.13 “Calendar Year” means the period beginning on the Effective Date and ending
on December 31 of the calendar year in which the Effective Date falls, and thereafter each successive period of twelve (12) months commencing on January 1 and ending on December 31; provided, that, the final Calendar Year shall end on
the last day of the Term. 
 1.14 “Clinical Trial” means any human clinical trial of a Licensed Product in the
Field. 
 1.15 “Commercialization” or “Commercialize” means all activities directed to marketing,
promoting, advertising, exhibiting, distributing, detailing, selling (and offering for sale or contracting to sell) or otherwise commercially exploiting (including pricing and reimbursement activities) a Licensed Product in the Field in the
Territory (including importing and exporting activities in connection therewith). 
 1.16 “Commercially Reasonable
Efforts” means, with respect to a Party’s obligations or activities under this Agreement, the carrying out of such obligations or activities with a level of effort and resources consistent with the commercially reasonable practices
normally devoted by a similarly situated biopharmaceutical company as part of an active and continuing program of development and commercialization of a pharmaceutical product of similar market potential and at a similar stage of its product life,
taking into account all relevant factors, including but not limited to, the competitiveness of the marketplace, the proprietary position, regulatory status, the profitability of the product, and relative safety and efficacy of such product, but not
taking into account (a) any other pharmaceutical product such Party is then researching, developing or commercializing, alone or with one or more Affiliates or Third Parties or (b) any payments made or required to be made to the other
Party hereunder. Without limiting the foregoing, such efforts shall include: (i) assigning responsibilities for activities for which such Party is responsible to specific employee(s) who are held accountable for the progress, monitoring and
completion of such activities, (ii) setting and seeking to reasonably achieve meaningful objectives for carrying out such activities, and (iii) making and implementing reasonable decisions and allocating resources reasonably necessary or
appropriate to advance progress with respect to and complete such objectives in an expeditious manner. 

  
 -3- 

 1.17 “Company IP” means all Patent Rights and Know-How that (a) are Controlled by Company as of the Effective Date or (b) thereafter come into Company’s Control independent of this Agreement, and in each case, that are necessary for, or used or
applied by or on behalf of Company or its Affiliates or sublicensees in, the Development, manufacture or Commercialization of Licensed Products. 

1.18 “Competing Product” means any compound or product (other than any Licensed Compound or Licensed Product) directed
against the Target or [***] or [***]. 
 1.19 “Confidential Information” of a Party (a “Disclosing
Party”) means, subject to Section 9.2, all Know-How or other proprietary information that is disclosed by a Disclosing Party or any of its Affiliates or sublicensees to the other Party (a
“Receiving Party”) or its Affiliates pursuant to this Agreement, whether made available orally, in writing, or in electronic form, including (a) such Know-How comprising or relating to
concepts, discoveries, Inventions, data, designs or formulae arising from this Agreement and (b) any unpublished patent applications disclosed hereunder. Notwithstanding the foregoing, the existence and terms of this Agreement shall be deemed
Confidential Information of both of the Parties and each Party shall be deemed the Disclosing Party with respect thereto. 
 1.20
“Control” or “Controlled” means with respect to any material, Know-How, or intellectual property right (including Patent Rights), that a Party has the power (whether by
ownership, license, or otherwise other than pursuant to this Agreement) to grant to the other Party access, a license, or a sublicense (as applicable) to the same on the terms and conditions set forth in this Agreement without violating any
obligations of the granting Party to a Third Party. Notwithstanding the foregoing, a Party will not be deemed to “Control” any material, Know-How, or intellectual property right (including Patent
Rights) that, prior to the consummation of the Acquisition making an Acquiring Entity an Affiliate of a Party, is owned or in-licensed by such Acquiring Entity that becomes an Affiliate of such acquired Party
after the Effective Date as a result of such Acquisition or that any Acquiring Entity subsequently develops without accessing or practicing any Licensed IP or Inventions. For clarity, the transactions contemplated by the Merger Agreement shall not
constitute an Acquisition for purposes of this Agreement. 
 1.21 “Cover” means, with respect to a Licensed Compound
or Licensed Product in a particular country or jurisdiction that the manufacture, use, sale, offer for sale, export or importation of such Licensed Compound or Licensed Product, as applicable, in such country or jurisdiction would, but for the
licenses granted herein, infringe a Valid Claim. Cognates of the word “Cover” shall have correlative meanings. 
 1.22
“Develop” or “Development” or “Developing” means all development activities for any Licensed Product that are directed to obtaining Regulatory Approval(s) of such Licensed Product and to support
appropriate usage for such Licensed Product, in each case in the Field, including: (a) all research, non-clinical, preclinical and clinical activities, testing and studies of such Licensed Product;
toxicology, pharmacokinetic, pharmacodynamic, drug-drug interaction, safety, tolerability and pharmacological studies of such Licensed Product; (b) distribution of such 

  
 -4- 

 
Licensed Product for use in Clinical Trials (including placebos and comparators); (c) statistical analyses; (d) the preparation, filing and prosecution of any application for Regulatory
Approval for such Licensed Product in the Field; (e) all development activities directed to label expansion (including prescribing information) or obtaining Regulatory Approval for one or more additional indications in the Field following
initial Regulatory Approval; (f) all development activities conducted after receipt of Regulatory Approval that are required or requested in writing by a Regulatory Authority as a condition of, or in connection with, obtaining or maintaining a
Regulatory Approval; (g) any pharmacoeconomic studies relating to the indication for which the applicable Licensed Product is being developed; (h) any investigator- or institution-sponsored studies; and (i) all regulatory activities
related to any of the foregoing; provided, however, that Development excludes Commercialization. 
 1.23
“Divestiture” means (a) the divestiture of a Competing Product through (i) an outright sale or assignment of all material rights in such Competing Product to a Third Party or (ii) an exclusive out-license of all development and commercialization rights with respect to such Competing Product, with no further material role, influence or authority of the applicable Party or its Affiliates, directly or
indirectly, with respect to such Competing Product or (b) the complete cessation of all development and commercialization activities with respect to such Competing Product. For clarity, the right of the applicable Party or its Affiliates to
receive royalties, milestones or other payments in connection with an acquirer, assignee or licensee’s development or commercialization of a Competing Product pursuant to sub-section (a) above, shall
be permitted for any such Divestiture. When used as a verb, “Divest” and “Divested” means to cause a Divestiture. 

1.24 “FDA” means the United States Food and Drug Administration or any successor entity thereto. 

1.25 “Field” means all fields of use. 

1.26 “GCP” means all applicable Good Clinical Practice standards for the design, conduct, performance, monitoring,
auditing, recording, analyses and reporting of clinical trials, including, as applicable (a) as set forth in the International Conference on Harmonization of Technical Requirements for Registration of Pharmaceuticals for Human Use Harmonized
Tripartite Guideline for Good Clinical Practice (CPMP/ICH/135/95) (the “ICH Guidelines”) and any other guidelines for good clinical practice for trials on medicinal products in the Territory, (b) U.S. Code of Federal
Regulations Title 21, Parts 50 (Protection of Human Subjects), 56 (Institutional Review Boards) and 312 (Investigational New Drug Application), as may be amended from time to time, and (c) the equivalent Applicable Laws in the region in the
Territory, each as may be amended and applicable from time to time and in each case, that provide for, among other things, assurance that the clinical data and reported results are credible and accurate and protect the rights, integrity, and
confidentiality of trial subjects. 
 1.27 “GLP” means all applicable Good Laboratory Practice standards, including,
as applicable, as set forth in the then-current good laboratory practice standards promulgated or endorsed by the U.S. Food and Drug Administration, as defined in 21 C.F.R. Part 58, and the equivalent Applicable Laws in the Territory, each as may be
amended and applicable from time to time. 

  
 -5- 

 1.28 “GMP” means all applicable Good Manufacturing Practices,
including, as applicable, (a) the principles detailed in the U.S. Current Good Manufacturing Practices, including pursuant to 21 C.F.R. Parts 4, 210, and 211, (b) European Directive 2003/94/EC and Eudralex 4, (c) the principles detailed in the
International Conference on Harmonization’s Q7 guidelines, and (d) the Applicable Laws in any relevant country or jurisdiction corresponding to (a) through (c) above, each as may be amended and applicable from time to time. 

1.29 “Governmental Authority” means any federal, state, national, provincial or local government, or political
subdivision thereof, or any multinational organization or any authority, agency or commission entitled to exercise any administrative, executive, judicial, legislative, police, regulatory or taxing authority or power, or any court or tribunal (or
any department, bureau or division thereof, or any governmental arbitrator or arbitral body). 
 1.30 “IND” means an
investigational new drug application or similar application filed with a Regulatory Authority in any country or jurisdiction prior to beginning Clinical Trials in that country or jurisdiction. 

1.31 “Invention” means any Know-How, composition of matter, article of
manufacture, mechanism of action, method of use, method of manufacture, diagnostic method or prognostic method, or other subject matter, whether patentable or not, that is conceived or reduced to practice under and as a result of the Development,
manufacture, or Commercialization of a Licensed Compound or Licensed Product, or the exercise of the licenses granted, in each case under this Agreement. 

1.32 “Know-How” means all technical information, data, inventions, discoveries,
trade secrets, specifications, instructions, processes, formulae, methods, protocols, expertise and other technology applicable to formulations, compositions or products or to their manufacture, development, registration, use or marketing or to
methods of assaying or testing them, and all biological, chemical, pharmacological, biochemical, toxicological, pharmaceutical, physical and analytical, safety, quality control, manufacturing, preclinical and clinical data relevant to any of the
foregoing. For clarity, Know-How excludes Patent Rights and physical substances. 
 1.33
“Licensed Compound” means (a) ASN007, (b) any complex, chelate, clathrate, acid, base, ester, salt, isomer, stereoisomer, diastereoisomer, enantiomer, pro-drug, metabolite, hydrate,
solvate, polymorph, tautomer (including any purified tautomer), tautomeric mixture, degradant and any other derivative, crystalline form or combination of a compound described in (a) and (c) any other pharmaceutically active compound
(i) the principal mechanism of action of which is to inhibit the Target by directly binding thereto and (ii) the composition of matter of which is claimed by one or more of the Patent Rights listed in Exhibit 1.36 as of the
Effective Date.  
 1.34 “Licensed IP” means, collectively, Licensed
Know-How and Licensed Patent Rights.  
 1.35 “Licensed Know-How” means all Know-How, which (a) is Controlled by Asana or any of its Affiliates as of the Effective Date or during the Term of this Agreement,
(b) is not generally known and (c) is reasonably necessary or actually used for the Development, manufacture, use, offer for sale, import, sale or other Commercialization of a Licensed Compound in the Field in the Territory. 

  
 -6- 

 1.36 “Licensed Patent Rights” means all Patent Rights which
(a) are Controlled by Asana or any of its Affiliates as of the Effective Date or during the Term and (b) Cover a Licensed Compound in the Field in the Territory, including those Patent Rights set forth on Exhibit 1.36. 

1.37 “Licensed Product” means any product that contains, incorporates or comprises one or more Licensed Compounds, as
an Active Ingredient, in any presentation, formulation or dosage form, including in combination with any other Active Ingredient.  

1.38 “Merger Agreement” means that certain Merger Agreement among (a) Parent, (b) Erasca – ASN
Product Development – Merger Sub I, Inc., a Delaware corporation and direct wholly owned subsidiary of Parent (“Merger Sub I”), (c) Erasca – ASN Product Development – Merger Sub II, Inc., a Delaware
corporation and direct wholly owned subsidiary of Parent (“Merger Sub II” and together with Merger Sub I, “Merger Subs”), (d) Company and (v) Asana, dated November 23, 2020. 

1.39 “NDA” means a new drug application filed pursuant to the requirements of the FDA pursuant to 21 C.F.R. Part 314.50
to obtain regulatory approval for a product in the United States, or the equivalent application or filing for approval to market or sell a pharmaceutical product in another country or jurisdiction (as applicable). 

1.40 “Patent Prosecution” means activities directed to (a) preparing, filing and prosecuting applications (of all
types) for any Patent Rights, (b) managing any interference, opposition, re-issue, reexamination, supplemental examination, invalidation proceedings (including inter partes or post-grant review
proceedings), revocation, nullification, or cancellation proceeding relating to the foregoing, (c) deciding whether to abandon, extend or maintain Patent Rights and (d) listing in regulatory publications (as applicable). For purposes of
clarity, “Patent Prosecution” will not include any other actions taken with respect to a patent or patent application. 

1.41 “Patent Rights” means the issued patents and pending patent applications (which, for purposes of this Agreement,
include certificates of invention, supplementary protection certificates and applications therefor, applications for certificates of invention and priority rights) in any country or jurisdiction, including all international applications, provisional
applications, substitutions, continuations, continuations-in-part, continued prosecution applications including requests for continued examination, divisional
applications and renewals, and all letters patent or certificates of invention granted thereon, and all reissues, reexaminations, extensions, adjustments, term restorations, renewals, substitutions, confirmations, registrations, revalidations,
revisions and additions of or to any of the foregoing, in each case, in any country or jurisdiction. 
 1.42 “Person”
means any individual, corporation, company, partnership, association, joint-stock company, trust, unincorporated organization or government or political subdivision thereof. 

  
 -7- 

 1.43 “Phase 2 Clinical Trial” means a Clinical Trial of the safety,
dose range, dose schedule or efficacy of a Licensed Product, whether as a monotherapy or combination therapy, which is designed to generate sufficient data (if successful) to support the commencement of a Registrational Trial or to file for
accelerated approval, or otherwise consistent with the requirements of U.S. 21 C.F.R. 312.21(b) or corresponding foreign regulations, regardless of whether such trial is referred to as a “phase 2 clinical trial” in the Development Plan.

 1.44 “Phase 2 Study Milestone” means the achievement of Successful Proof of Concept in a Phase 2 Clinical Trial.

 1.45 “Registrational Trial” means a Clinical Trial that is designed to obtain sufficient data and results to
support the filing of an application for Regulatory Approval (but may not include the data that may be necessary to support the pricing and/or reimbursement approvals). A Registrational Trial includes any Clinical Trial that satisfies at least one
of the following criteria: 
 (a) It would, based on interactions with a Regulatory Authority or otherwise prior to the initiation of such
trial, satisfy the requirements of 21 CFR 312.21(c) or corresponding foreign regulations; 
 (b) It is designed in a manner to allow for the
addition of patients such that it could satisfy the requirements of 21 CFR 312.21(c) or corresponding foreign regulations; or 
 (c) It is
otherwise intended, at the time of initiation to support (either alone or together with another Clinical Trial that would satisfy the requirements of 21 CFR 312.21(c) or corresponding foreign regulations) an application for Regulatory Approval of a
new product (or a new indication or intended use for an already approved product). 
 1.46 “Regulatory Approval”
means all approvals from the relevant Regulatory Authority necessary to initiate marketing and selling a product (including Licensed Product) in any country or jurisdiction. For clarity, Regulatory Approval excludes pricing or reimbursement
approval.  
 1.47 “Regulatory Authority” means any applicable Governmental Authority with
authority over the distribution, importation, exportation, manufacture, production, use, storage, transport, clinical testing or sale of a pharmaceutical product (including any Licensed Product), which may include the authority to grant the required
reimbursement and pricing approvals for such sale. 
 1.48 “Regulatory Submissions” means any filing, application or
submission with any Regulatory Authority, including applications for Regulatory Approvals and any pricing or reimbursement approvals, as applicable, and all correspondence or communication with or from the relevant Regulatory Authority, as well as
minutes of any material meetings, telephone conferences or discussions with the relevant Regulatory Authority, in each case, with respect to a Licensed Product. 

  
 -8- 

 1.49 “Segregate” means, with respect to a Competing Product, to use
reasonable efforts to segregate the research, development, manufacturing and commercialization activities relating to such Competing Product, from research, development and commercialization activities with respect to Licensed Products under this
Agreement, including ensuring that: (a) no personnel involved in performing the research, development or commercialization, as applicable, of such Competing Product have access to non-public plans or non-public information relating to the research, development or commercialization of Licensed Products or any other Confidential Information of Company or Asana related to the Licensed Product or any Inventions or
access or practice Licensed Patents or Licensed Know-How; (b) no personnel involved in performing the research, development or commercialization of Licensed Products have access to non-public plans or information relating to the research, development or commercialization of such Competing Product and (c) the research, development or commercialization, as applicable, of such Competing
Product does not interfere with, delay, or otherwise negatively impact the research, development or commercialization, as applicable, of Licensed Products; provided, that, in each case of (a) – (c), senior management personnel may review and
evaluate plans and information regarding the research, development and commercialization of such Competing Products, solely in connection with portfolio decision-making among product opportunities. 

1.50 “Successful Proof of Concept” means, with respect to a Licensed Product, initial evidence of therapeutic activity
and safety (safety in patients receiving ASN007 is defined as: <10% ASN007-related SAEs, <20% ASN007-related Grade 3+ AEs, <20% of patients discontinue due to an ASN007-related AE, and no ASN007-related deaths) in an indication obtained in
a Phase 2 Clinical Trial that warrants continued clinical evaluation and development in a Registrational Trial, including an extension or continuation of such Phase 2 Clinical Trial that would serve as the Registrational Trial for such Licensed
Product. Without limiting the generality of the foregoing, a Licensed Product will be deemed to warrant continued clinical evaluation development in a Registrational Trial in an indication upon the earliest of (A) the achievement of the
applicable success criteria set forth in Exhibit 1.50, (B) the date on which a final protocol for such Registrational Trial has been signed by a duly authorized officer of Parent or (C) Parent’s receipt of the FDA’s minutes
from an end-of-phase 2 meeting between Parent and the FDA with respect to such Phase 2 Clinical Trial, indicating that the dose and safety and efficacy data from the
Phase 2 Clinical Trial are sufficient to proceed to a Registrational Trial of the Licensed Product. 
 1.51 “Target”
means ERK1/2, which consists of [***] with , [***] and [***] with [***]. 
 1.52 “Territory” means worldwide. 

1.53 “Third Party” means any Person other than a Party or an Affiliate of a Party. 

1.54 “United States” or “US” means the United States of America and its territories and possessions.

 1.55 “USD” means United States dollars. 

1.56 “Valid Claim” means (a) any claim of an issued and unexpired patent (as may be extended through supplementary
protection certificate, patent term adjustment or patent term extension or their equivalent), which claim (i) has not been revoked or held invalid or unenforceable by a patent office, court or other Governmental Authority of competent
jurisdiction in a final and non-appealable judgment (or judgment from which no appeal was taken within the allowable time period) and (ii) has not been disclaimed, denied or admitted to be invalid or
unenforceable through reissue, re-examination or disclaimer or otherwise or (b) any claim of a pending patent application, which claim has not been pending for more than eight (8) years from its
earliest priority date; provided that if such claim later issues as a claim of an issued patent, then from and after such issuance the same shall be deemed a Valid Claim. 

  
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 1.57 Additional Definitions. The following table identifies the location of
definitions set forth in various Sections of this Agreement: 
  

			
	 Defined Term
	  	 Section

	Agreement	  	Preamble
	 Anti-Corruption Laws
	  	10.6(a)(i)
	 Approval Countries
	  	5.1
	 Asana
	  	Preamble
	 Asana Indemnitee(s)
	  	11.1
	 Claim
	  	11.1
	 Company
	  	Preamble
	 Company Indemnitee(s)
	  	11.2
	 Development Plan
	  	5.2
	 Disclosing Party
	  	1.19
	 Dispute
	  	14.4(a)
	 Effective Date
	  	Preamble
	 Equity Consideration
	  	13.3(d)
	 Equity Value
	  	13.3(d)
	 Excluded Claim
	  	14.4(c)
	 Executive Officers
	  	14.4(a)
	 Indemnified Party
	  	11.3
	 Indemnifying Party
	  	11.3
	 Infringement
	  	12.2(a)
	 License
	  	2.1
	 Licensed Compound Materials
	  	4.2
	 Losses
	  	11.1
	 Majority Investor
	  	1.4
	 New Technology
	  	12.4
	 Notice of Dispute
	  	14.4(a)
	 Parent
	  	Preamble
	 Party(ies)
	  	Preamble
	 Licensed Product Marks
	  	12.6
	 Public Official
	  	10.6(d)
	 Receiving Party
	  	1.19
	 SEC
	  	9.4(b)
	 Securities Regulators
	  	9.4(b)
	 Technology Transfer
	  	4.1
	 Term
	  	13.1

  
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 1.58 Interpretation. The captions and headings to this Agreement are for
convenience only, and are to be of no force or effect in construing or interpreting any of the provisions of this Agreement. Unless specified to the contrary, references to Articles, Sections or Exhibits mean the particular Articles, Sections or
Exhibits to this Agreement and references to this Agreement include all Exhibits hereto. In the event of any conflict between the main body of this Agreement and any Exhibit hereto, the main body of this Agreement shall prevail. Unless context
otherwise clearly requires, whenever used in this Agreement: (a) the words “include” or “including” shall be construed as incorporating, also, “but not limited to” or “without limitation;” (b) the word
“day” or “year” means a calendar day or year unless otherwise specified; (c) the word “notice” shall mean notice in writing (whether or not specifically stated) and shall include notices, consents, approvals and
other written communications contemplated under this Agreement; (d) the words “hereof,” “herein,” “hereby” and derivative or similar words refer to this Agreement as a whole and not merely to the particular
provision in which such words appear; (e) the words “shall” and “will” have interchangeable meanings for purposes of this Agreement; (f) the word “or” shall have the inclusive meaning commonly associated with
“and/or”; (g) provisions that require that a Party, the Parties or a committee hereunder “agree,” “consent” or “approve” or the like shall require that such agreement, consent or approval be specific and in
writing, whether by written agreement, letter, approved minutes or otherwise; (h) words of any gender include the other gender; (i) words using the singular or plural number also include the plural or singular number, respectively;
(j) references to any specific law, rule or regulation, or article, section or other division thereof, shall be deemed to include the then-current amendments thereto or any replacement law, rule or regulation thereof; (k) neither Party or
its Affiliates shall be deemed to be acting “under authority of” the other Party. 
 ARTICLE 2 

LICENSE 
 2.1
License Grants to Company. Subject to the terms and conditions of this Agreement (including the rights retained by Asana hereunder), Asana hereby grants to Company an exclusive license, with the right to grant sublicenses solely in accordance
with Section 2.2, under the Licensed IP to manufacture and have manufactured (subject to Article 7), use, import, export, offer for sale, sell and otherwise Develop and Commercialize Licensed Products in the Field in the Territory (the
“License”). 
 2.2 Right to Sublicense. Subject to the terms and conditions of this Agreement, Company
shall have the right to grant sublicenses (through multiple tiers) under the License to one or more of its Affiliates or Third Parties. Each sublicense under the License shall be subject to a written agreement that is consistent with the terms and
conditions of this Agreement, and Company shall ensure that its sublicensees comply with the terms and conditions of this Agreement. Company will remain directly responsible for all of its obligations under this Agreement, regardless of whether any
such obligation is sublicensed to any of its Affiliates or any Third Party. Until such time as Asana no longer has the right to terminate this Agreement pursuant to 

  
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Section 13.3(d), Company shall provide Asana with a true and complete copy of each sublicense agreement within ten (10) days after it becomes effective, subject to Company’s right
to redact any confidential or proprietary information contained therein that is not necessary for Asana to determine compliance with this Agreement, and if such agreement is not in English, a certified translation into English thereof within
forty-five (45) days after the execution of such sublicense agreement. 
 2.3 Asana Retained Rights. Notwithstanding the
exclusive nature of the License, Asana expressly retains the nonexclusive right to practice the Licensed IP in the Field in the Territory to research and conduct preclinical pharmacology activities with ASN007 for use in combination (including co-administration) with [***]; provided that Asana shall promptly notify Company of any unexpected or undue severe toxicology results arising from such pharmacology studies and provide information therefor. If Asana
desires to conduct a preclinical tox study or a Clinical Trial of ASN007 for use in combination with [***] , then any such preclinical tox study or Clinical Trial shall be subject to approval by the JSC, which approval shall not be unreasonably
withheld, conditioned or delayed. In the event that any such Clinical Trial of ASN007 in combination with [***] is approved by the JSC, the Parties will negotiate in good faith the terms of a clinical supply agreement, pursuant to which Company
would supply ASN007 to Asana for use in such Clinical Trial. 
 2.4 Exclusivity. During the Term, each Party agrees, on behalf
of itself and its Affiliates, not to: (a) research, develop, manufacture or commercialize any Competing Product, nor (b) authorize, assist or otherwise enable any Third Party to do any of the foregoing. Notwithstanding the foregoing, if
Asana, directly or through one or more licensees or contractors, researches or develops [***] for use in combination (including co-administration) with a Competing Product it shall not constitute a breach of
this Section 2.4. 
 2.5 Acquisition of Competing Programs. Notwithstanding Section 2.4, if 

(a) a Party or any of its Affiliates acquires rights to a Competing Product through the acquisition of a controlling (as defined in
Section 1.4) interest in a Third Party (whether by merger or acquisition of all or substantially all of the stock or assets of a Third Party or of any operating or business division of a Third Party or similar transaction), such acquisition,
and the commercialization of such Competing Product thereafter, shall not constitute a breach of Section 2.4; provided that, if such acquisition occurs prior to the achievement of the [***] Milestone (and payment of the associated Development
Milestone Payment in Section 2.12(a) of the Merger Agreement and issuance of the Milestone Parent Shares), such Party or such Affiliate, as applicable, (i) Divests such Competing Product within twelve (12) months after the closing of
such acquisition and (ii) at all times prior to such Divestiture, Segregates such Competing Product; or 
 (b) a Third Party that is (at
the time of such acquisition or thereafter) researching, developing, manufacturing or commercializing a Competing Product acquires a Party or any of its Affiliates (whether by merger or acquisition of all or substantially all of the stock or of all
or substantially all of the assets of such Party or such Affiliate or of any operating or business division of such Party or such Affiliate or similar transaction), such acquisition, and the research, development, manufacture or commercialization of
any such Competing Product by such relevant Acquiring Entity, as the case may be, prior to or after such acquisition shall not constitute a breach of Section 2.4. For clarity, the exception to Section 2.4 set forth in this
Section 2.5(b) above shall neither expand the scope of the License nor limit Company’s obligations pursuant to Article 8. 

  
 -12- 

 2.6 No Implied Licenses. Except as expressly set forth herein, neither Party
shall acquire any license or other intellectual property interest, by implication or otherwise, under any trademark or similar rights, Know-How or Patent Rights of the other Party. Company shall not, and shall
not permit any of its Affiliates or sublicensees to, practice any Licensed IP outside the scope of the License. 
 ARTICLE 3 

GOVERNANCE 
 3.1
Alliance Managers. Each Party shall appoint an individual, who is an employee of or consultant to such Party (provided that such consultant is bound by confidentiality and non-use obligations consistent
with the terms of this Agreement), to act as its alliance manager under this Agreement as soon as practicable after the Effective Date (the “Alliance Manager”). The Alliance Managers shall: (a) serve as the primary points of
contact between the Parties for the purpose of providing the other Party with information on the progress of a Party’s activities under this Agreement; (b) be responsible for facilitating the flow of information and otherwise promoting
communication, coordination and collaboration between the Parties; (c) facilitate the prompt resolution of any disputes; and (d) attend (as a non-voting participant) JSC meetings. An Alliance Manager
may also bring any matter to the attention of the JSC in writing if such Alliance Manager reasonably believes that such matter warrants such attention. Each Party may replace its Alliance Manager at any time upon written notice to the other Party.

 3.2 Joint Steering Committee. 

(a) Formation. No later than five (5) days following the Effective Date, the Parties shall establish a joint steering committee
(the “JSC”) to monitor and coordinate the Development and manufacture of Licensed Products in the Field in the Territory. The JSC will be composed of an equal number of representatives from each Party and a minimum of three
(3) representatives of each Party, with (i) at least two (2) senior executive-level representatives of each Party and (ii) at least two (2) representatives of each Party that have direct knowledge and expertise in the
development and manufacture of products similar to the Licensed Products. Each representative to the JSC shall be an employee of the applicable Party, unless otherwise agreed by both Parties. 

(b) Role. The JSC shall (i) oversee and provide a forum for the discussion of the Parties’ activities under this Agreement;
(ii) review and discuss the overall strategy for the Development and manufacture of Licensed Products in the Field in the Territory; (iii) review, discuss and approve the initial Development Plan and any amendments thereto, in accordance
with Section 5.2; (iv) review, discuss and approve any Clinical Trial of ASN007 in combination with [***]; (v) review, discuss and approve the Manufacturing Technology Transfer Plan, in accordance with Section 7.2; (vi) discuss and
determine whether to proceed towards a Registrational Trial and (vii) perform such other functions as expressly set forth in this Agreement or allocated to the JSC by the Parties’ written agreement. 

  
 -13- 

 (c) Limitation of Authority. The JSC shall only have the powers expressly assigned to
it in this Article 3 and elsewhere in this Agreement and shall not have the authority to: (i) modify or amend the terms and conditions of this Agreement; (ii) waive either Party’s compliance with the terms and conditions of this
Agreement; or (iii) determine any issue in a manner that would conflict with the express terms and conditions of this Agreement. 
 (d)
Meetings. The JSC shall hold meetings at such times as it elects to do so, but shall meet no less frequently than four (4) times per Calendar Year. In addition, special meetings of the JSC may be convened by either Alliance Manager upon
not less than thirty (30) days (or, if such meeting is proposed to be conducted by teleconference, as soon as reasonably practicable) written notice to the other Alliance Manager; provided that neither Party (through its Alliance Manager) may
convene more than two (2) special meetings of the JSC in any Calendar Year. The JSC may meet in person or by means of teleconference, Internet conference, videoconference or other similar communication method as agreed by the Parties. Each
Party shall bear its own expenses related to participation in and attendance at such meetings by its respective JSC representatives. The Alliance Managers shall jointly prepare and circulate minutes for each JSC meeting within thirty (30) days
of each such meeting and shall ensure that such minutes are reviewed and approved by their respective companies within thirty (30) days thereafter. 

(e) Non-Member Attendance. Each Party may from time to time invite a reasonable number of
participants, in addition to its representatives, to attend a meeting of the JSC (in a non-voting capacity) in the event that the planned agenda for such JSC meeting would require such participants’
expertise; provided that if either Party intends to have any Third Party (including any consultant) attend such a meeting, such Party shall provide prior written notice to the other Party, shall obtain approval from such other Party for such
Third Party to attend, and shall ensure that such Third Party is bound by confidentiality and non-use obligations consistent with the terms of this Agreement. 

(f) Decision-Making. All decisions of the JSC shall be made by consensus, with the representatives of each Party to the JSC having,
collectively, one vote. If after reasonable discussion and good faith consideration of each Party’s view on a particular matter before the JSC, the JSC cannot reach consensus as to such matter within ten (10) Business Days after such
matter was brought before the JSC for resolution, such matter shall be referred to the Chief Executive Officer of Asana (or an executive officer of Asana designated by the Chief Executive Officer of Asana who has the power and authority to resolve
such matter) and the Chief Executive Officer of Company (or an executive officer of Company designated by the Chief Executive Officer of Company who has the power and authority to resolve such matter) (collectively, the “Executive
Officers”) for resolution. If the Executive Officers cannot resolve such matter within ten (10) Business Days after such matter has been referred to them, then Company shall have the final decision-making authority for matters within
the scope of the JSC’s decision-making authority. 
 3.3 Discontinuation of JSC. The JSC shall continue to exist until the
first to occur of: (a) Parties mutually agreeing to disband the JSC, (b) Asana providing written notice to Company of its intention to disband and no longer participate in the JSC or (c) the achievement of the Phase 2 Study Milestone
(and payment of the associated Development Milestone Payment in Section 2.12(a) of the Merger Agreement and issuance of the Milestone Parent Shares). Once the JSC is disbanded, the JSC shall have no further obligations under this Agreement and,
thereafter, the 

  
 -14- 

 
Alliance Managers shall be the points of contact for the exchange of information under this Agreement and decisions of the JSC shall be decisions between the Parties, subject to the other terms
and conditions of this Agreement. If Asana conducts one or more clinical trials of ASN003 for use in combination with a Third-Party Competing Product that is not commercially available, then Company may request that any personnel involved in such
research program not participate in, or have access to information regarding the development of ASN007 that is disclosed pursuant to, JSC meetings, and Asana will implement such request. 

ARTICLE 4 
 TECHNOLOGY
TRANSFER 
 4.1 Technology Transfer. To the extent not previously provided to Company (including through a virtual data
room with download rights), within forty-five (45) days after the Effective Date, Asana will provide and transfer to Company unredacted copies of all Licensed Know-How that exists on the Effective Date
(the “Technology Transfer”), including any such items set forth on Part A of Exhibit 4.1. In addition to the Technology Transfer, Asana will provide Company with each item of Licensed
Know-How set forth on Part B of Exhibit 4.1 that is related to ASN007 and is in Asana’s Control promptly following Asana’s receipt of the same. In addition, the Parties acknowledge and confirm
that Asana has provided to Company a true and correct (and unredacted) copy of each Assigned Contract and has assigned to Company, and Company has accepted assignment of, the Assigned Contracts. With respect to those master manufacturing or supply
agreements between Asana and a CMO pertaining to ASN007 in effect as of the Effective Date, in each case, that have not been and will not be assigned to Company, but for which Company will assume the manufacturing of ASN007 (“Unassigned
Contracts”), Asana shall promptly introduce Company to the relevant CMO and (subject to the fifty (50)- hour limitation below) cooperate and assist Company, using good faith efforts, to obtain an agreement with such CMO on similar terms to
such master manufacturing or supply agreement. Company shall use good faith efforts to promptly enter into an agreement with each such CMO pursuant to which Company will obtain supply of ASN007. Upon Company’s reasonable request within the
first three (3) months following the Effective Date, Asana will make employees or agents of Asana available to Company for up to fifty (50) hours, in the aggregate, at no additional cost to Company, to facilitate the Technology Transfer.
For the avoidance of doubt, Asana’s personnel shall not be obligated to travel to Company’s facilities, Asana’s transfer obligations under this Section 4.1 shall apply solely to the extent the Licensed Know-How is reasonably necessary or actually used to support Company’s Development and Commercialization of the Licensed Product in the Field in the Territory in accordance with this Agreement and Asana shall
not be required to generate any new data or information in connection with this Section 4.1. Notwithstanding the foregoing, Asana’s technology transfer obligations hereunder shall not include the obligation to transfer regulatory
documentation, except as expressly set forth in Section 6.1, or manufacturing-related Know-How, except as expressly set forth in Section 7.2, in each case, unless otherwise mutually agreed by the
Parties in writing. 
 4.2 Transfer of Licensed Compounds. Within thirty (30) days after the Effective Date and to the
extent not delivered to Company prior to the Effective Date, Asana will deliver to Company, at Company’s sole cost and expense, all supplies of ASN007 (bulk drug substance) in Asana’s possession or Control as of the Effective Date (the
“Licensed Compound Materials”) EXW (Incoterms 2010) point of shipment to Company. To the extent not transferred prior to the 

  
 -15- 

 
Effective Date, title and risk of loss of such Licensed Compound Materials will transfer upon delivery. The Licensed Compound Materials are experimental in nature and are provided “AS
IS,” without any warranties as to merchantability or fitness for a particular purpose. Company further acknowledges that the Licensed Compound Materials’ properties or characteristics are not known, and Company agrees that Company will use
such Licensed Compound Materials with reasonable care and will be solely responsible and liable for any losses or injuries incurred by it or its Affiliates or sublicensees through use of such Licensed Compound Materials. 

4.3 Supply of Licensed Product. Until such time as Company has a direct agreement with each of the CMOs that is a party to an
Unassigned Contract for the manufacture of ASN007, Asana shall provide to Company supplies of Licensed Product (including final product, bulk drug substance, intermediates,
works-in-process, formulation materials, reference standards, drug product clinical reserve samples, packaged retention samples with respect thereto), obtained in
accordance with the terms and conditions of the applicable Unassigned Contract, at a price equal to Asana’s fully burdened manufacturing cost, including the pass through of Asana’s purchase price for such Licensed Product from such CMO and
costs incurred by Asana and allocable to such Licensed Product in accordance with United States generally accepted accounting principles, including costs of shipping, handling, quality assurance and storage, for up to twelve (12) months after
the Effective Date, under the terms of a commercially reasonable supply agreement to be negotiated in good faith by the Parties. For clarity, Asana shall not be obligated to enter into any supply arrangements for the Licensed Product (or any
component thereof) other than the Unassigned Contracts, or to obtain Licensed Products (or any component thereof) other than pursuant to the Unassigned Contracts, to satisfy its supply obligations under this Section 4.3. 

ARTICLE 5 
 DEVELOPMENT

 5.1 Diligence and Responsibilities. Company shall be responsible for the Development of the Licensed Products in
the Field in the Territory in accordance with this Article 5. Company, directly or through one or more Affiliates or Third Parties, shall use Commercially Reasonable Efforts to Develop and obtain Regulatory Approval for Licensed Products in the
Field in the United States, in at least one of the countries from the United Kingdom, France, Germany, Italy and Spain, and at least one of China and Japan (the “Approval Countries”). Company shall conduct such tasks in a timely,
professional manner and in compliance with all Applicable Laws, including GLP, GCP and GMP. For avoidance of doubt, Company is not obligated to achieve the Breakthrough Designation Milestone. 

5.2 Development Plan. All Development of Licensed Products in the Field in the Territory to be conducted by Company, its
Affiliates and sublicensees shall be conducted pursuant to a written development plan (as amended from time to time in accordance with this Section 5.2, the “Development Plan”). The Development Plan shall be focused on
efficiently obtaining Regulatory Approval for the Licensed Product in the Field in the Approval Countries. The Parties, through the JSC, will jointly prepare an initial Development Plan within three (3) months following the Effective Date for
approval by the JSC, which shall include the elements set forth on Exhibit 5.2. From time to time after the Effective Date, but not less than every twelve (12) months, Company shall propose amendments to the Development Plan in
consultation with Asana and submit such proposed updated or amended Development Plan to the JSC for review and approval. Once approved by the JSC, the initial Development Plan and any amended Development Plan shall become effective. 

  
 -16- 

 5.3 Development Costs. Company shall be solely responsible for the costs and
expenses incurred by Company in the Development of Licensed Products in the Field in the Territory. 
  

5.4 Development Records. Company shall maintain reasonably complete, current and accurate records of all Development
activities conducted by or on behalf of Company, its Affiliates or its sublicensees pursuant to this Agreement and all data and other information resulting from such activities, in each case in accordance with all Applicable Laws. Company shall
maintain such records during the Term and for a period of time after the Term consistent with Applicable Laws and reasonable industry practices on record retention and destruction (which shall not be less than three (3) years). Such records
shall fully and properly reflect all work done and results achieved by or on behalf of Company in the performance of the Development activities in the Territory hereunder, in good scientific manner appropriate for regulatory and patent purposes,
including applying for Regulatory Approvals. Company shall, and shall cause its Affiliates and sublicensees to, document all non-clinical studies and Clinical Trials of the Licensed Product in formal written
study reports in accordance with Applicable Laws and national and international guidelines (e.g., GCP, GLP and GMP). 
 5.5
Development Reports. Company shall, at least on a semi-annual basis, provide Asana with written reports, summarizing its, its Affiliates’ and its sublicensees’ Development of Licensed Products in the Approval Countries (and any
other countries where there are Development activities that would support Regulatory Approvals in the Approval Countries), including a summary of the results of such Development, which reports shall be in English. Without limiting the foregoing,
such reports shall contain sufficient detail to enable Asana to assess Company’s compliance with its Development obligations hereunder and shall include without limitation: (i) projected and actual dates of Regulatory Submissions,
(ii) projected and actual dates of completion for Clinical Trials, including progress of subject enrollment, (iii) a summary of the purpose for each Clinical Trial, and (iv) copies of materials concerning market potential for the
Licensed Products in the Field if Company has prepared any such materials. 
 5.6 Subcontractors. Company shall have the right
to engage subcontractors for purposes of conducting activities for which it is responsible under this Agreement. Company shall cause any subcontractor engaged by it to be bound by written obligations of confidentiality and non-use at least as protective of Asana and Asana’s Confidential Information as the terms of this Agreement prior to such subcontractor gaining access to any of Asana’s Confidential Information or
performing any subcontracted activities. Company shall remain directly responsible for any obligations under this Agreement that have been delegated or subcontracted to any subcontractor and shall be directly responsible for the performance of its
subcontractors. 

  
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 ARTICLE 6 

REGULATORY 
 6.1
Holder of Regulatory Approvals and Regulatory Submissions. Company shall be the holder of Regulatory Approvals and Regulatory Submissions for Licensed Products in the Field in the Territory. Promptly following the Effective Date, Asana shall
transfer to Company ownership and a complete copy of those regulatory documents set forth on Exhibit 6.1 that relate to the Licensed Products, including INDs and associated correspondence between Asana or its Affiliate and a Regulatory
Authority, and notify the applicable Regulatory Authorities of such transfer. 
 6.2 Regulatory Responsibilities. Company shall
keep Asana reasonably informed of regulatory developments related to the Licensed Products in the Approval Countries and shall promptly notify Asana in writing of any decision by any Regulatory Authority in the Approval Countries regarding any
Licensed Product in the Field. All regulatory activities conducted, and Regulatory Submissions prepared, by or on behalf of Company with respect to the Licensed Product in the Approval Countries shall be conducted and prepared in strict compliance
with Applicable Laws. 
 6.3 Adverse Events Reporting. Company shall be responsible for (i) reporting to the
applicable Regulatory Authorities in the Territory, all quality complaints, adverse events and safety data related to Licensed Products for Clinical Trials conducted in the Territory and (ii) responding to safety issues and to all requests of
Regulatory Authorities related to such safety issues with respect to the Licensed Products in the Field in the Territory, in each case ((i) and (ii)), in accordance with Applicable Law. 

ARTICLE 7 
 MANUFACTURING

 7.1 Licensed Product Supply. Subject to the terms and conditions of this Article 7, Company shall have the right to
exercise the License to manufacture Licensed Products for Development or Commercialization in the Field in the Territory itself or to have such Licensed Products manufactured by a Third Party contract manufacturing organization
(“CMO”), in each case after successful completion of the Manufacturing Technology Transfer and Qualifying Audits in accordance with Section 7.2. Company may use any Licensed Product manufactured at any such facilities, for
Development or Commercialization in the Field in the Territory. All Licensed Products manufactured by or on behalf of Company or its CMO shall be manufactured in compliance with all Applicable Laws and applicable specifications for such Licensed
Product. 
 7.2 Manufacturing Technology Transfer. In addition to the Licensed Know-How
provided to Company pursuant to the Technology Transfer, upon Company’s written request, Asana will promptly prepare and submit to the JSC, for its review and approval, a plan for the transfer to Company of all
Know-How Controlled by Asana with respect to the manufacture of Licensed Compounds and Licensed Products, and the conduct by Asana of such consultation activities, as are necessary to enable Company or a Third
Party contract manufacturing organization to manufacture for the Territory (i) Licensed Compounds or (ii) Licensed Products (such plan, the “Manufacturing Technology Transfer Plan” and such actions, the
“Manufacturing Technology Transfer”). Following the review and approval by the JSC of the Manufacturing Technology Transfer Plan, Asana will perform (or cause one or more applicable Third Parties (including, as applicable, any CMO
engaged by Asana to manufacture Licensed Compounds or Licensed Products) to perform) a single Manufacturing Technology Transfer in accordance with such Manufacturing Technology Transfer Plan to Company or a Third Party CMO

  
 -18- 

 
at Asana’s expense. Asana will make employees or agents of Asana available to Company for up to twenty (20) hours, in the aggregate, at no additional cost to Company, to facilitate the
Manufacturing Technology Transfer. Asana will initiate the Manufacturing Technology Transfer promptly following the approval by the JSC of the Manufacturing Technology Transfer Plan. After completion of the Manufacturing Technology Transfer to a
facility, use of such facility to manufacture Licensed Compounds or Licensed Products shall be subject to successful completion of any necessary inspections required by applicable Regulatory Authorities (collectively, the “Qualifying
Audits”). All Licensed Compounds and Licensed Products manufactured by or on behalf of Company or its CMO shall be manufactured in compliance with all Applicable Laws and applicable specifications therefor. 

ARTICLE 8 
 PAYMENTS

 8.1 Upfront Fee. In consideration of Asana’s granting of the licenses and rights to Company hereunder and
Asana’s undertaking of the activities required under this Agreement, the Parties acknowledge that prior to the Effective Date Company has paid to Asana two (2) separate payments, each in the amount of [***] dollars ($[***]). In partial
consideration of Asana’s granting of the licenses and rights to Company hereunder and Asana’s undertaking of the activities required under this Agreement, the Parties acknowledge that Company has issued to Asana [***] shares of
Company’s common stock. 
 8.2 Payments to Third Parties. Except as expressly set forth herein, each Party shall be solely
responsible for any payments due to Third Parties under any agreement entered into by such Party with respect to the Licensed Product, as a result of activities hereunder. 

ARTICLE 9 

CONFIDENTIALITY 

9.1 Duty of Confidence. During the Term and for ten (10) years thereafter, the Receiving Party shall maintain in confidence
and not disclose to any Third Party or use for any purpose, except as set forth herein, without the prior written consent of the Disclosing Party any Confidential Information of the Disclosing Party. The Receiving Party may use the Confidential
Information of the Disclosing Party solely for purposes of exercising its rights and fulfilling its obligations under this Agreement and may disclose Confidential Information of the Disclosing Party to those employees, agents, contractors,
consultants and advisers of the Receiving Party and any of its Affiliates, licensees and sublicensees to the extent reasonably necessary for such purposes; provided that such Person is bound by written or professional obligations of
confidentiality and non-use with respect to such Confidential Information at least as protective of the Disclosing Party and such Confidential Information as the terms of this Article 9. 

9.2 Exceptions. The obligations under this Article 9 shall not apply to any information to the extent the Receiving Party can
demonstrate by competent evidence that such information: 
 (a) is (at the time of disclosure) or becomes (after the time of disclosure)
known to the public or part of the public domain through no breach of this Agreement by the Receiving Party; 

  
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 (b) was known to, or was otherwise in the possession of, the Receiving Party prior to the
time of disclosure by the Disclosing Party; 
 (c) is disclosed to the Receiving Party on a
non-confidential basis by a Third Party that is entitled to disclose it without breaching any confidentiality obligation to the Disclosing Party; or 

(d) is independently developed by or on behalf of the Receiving Party, as evidenced by its written records, without use of or reference to any
of the Disclosing Party’s Confidential Information. 
 9.3 Authorized Disclosures. Subject to this Section 9.3, the
Receiving Party may disclose the Disclosing Party’s Confidential Information as follows: 
 (a) to such Receiving Party’s
attorneys, independent accountants or financial advisors for the sole purpose of enabling such attorneys, independent accountants or financial advisors to provide advice to the Receiving Party, on the condition that such attorneys, independent
accountants and financial advisors are bound by confidentiality and non-use obligations with respect to such Confidential Information at least as protective of the Disclosing Party and such Confidential
Information as the terms of this Article 9; 
 (b) to governmental or other regulatory agencies in order to obtain and maintain Patent Rights
consistent with Article 12; 
 (c) with respect to disclosure by Company or a Company Affiliate or sublicensee, as reasonably necessary to
gain or maintain approval to conduct Clinical Trials for a Licensed Product, to obtain and maintain Regulatory Approval or to otherwise Develop, manufacture and Commercialize Licensed Products, in each case, in accordance with this Agreement; 

(d) to the extent required in connection with any judicial or administrative process relating to or arising from this Agreement (including any
enforcement hereof) or to comply with applicable court orders or governmental regulations (or the rules of any recognized stock exchange or quotation system); or 

(e) to potential or actual investors or potential or actual acquirers or actual or potential (sub)licensees or partners, in each case that has
a good faith need to know and in connection with due diligence or similar investigations by such Third Parties; provided, in each case, that any such potential or actual investor or acquirer or sublicensee agrees to be bound by
confidentiality and non-use obligations with respect to such Confidential Information at least as protective of the Disclosing Party and such Confidential Information as the terms of this Article 9. 

If the Receiving Party is required by judicial or administrative process to disclose any of the Disclosing Party’s Confidential
Information, the Receiving Party shall promptly inform the Disclosing Party of the disclosure that is being sought in order to provide the Disclosing Party an opportunity to challenge or limit the disclosure obligations, and, if requested by the
Disclosing Party, cooperate in all reasonable respects with the Disclosing Party’s efforts to obtain confidential 

  
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treatment or a protective order with respect to any such disclosure, at the Disclosing Party’s expense. Confidential Information that is disclosed as permitted by this Section 9.3 shall
remain otherwise subject to the confidentiality and non-use provisions of this Article 9, and the Receiving Party shall take all steps reasonably necessary, including obtaining an order of confidentiality and
otherwise cooperating with the Disclosing Party, to ensure the continued confidential treatment of such Confidential Information. 
 9.4
Publicity. 
 (a) Promptly following the Effective Date, the Parties shall mutually approve coordinated press releases with respect to
this Agreement and either Party may make subsequent public disclosure of the contents of such press releases following the earlier of (i) the date Parent or the Company publicly discloses a Clinical Trial on clinicaltrials.gov and
(ii) March 31, 2021. Subject to the foregoing, each Party agrees not to issue any press release or other public statement, whether oral or written, disclosing the terms hereof or any of the activities conducted hereunder without the prior
written consent of the other Party, provided, however, that neither Party will be prevented from complying with any duty of disclosure it may have pursuant to Applicable Laws or pursuant to the rules of any recognized stock exchange or
quotation system, subject to that Party notifying the other Party of such duty and limiting such disclosure as reasonably requested by the other Party (and giving the other Party sufficient time to review and comment on any proposed disclosure).

 (b) The Parties hereby acknowledge and agree that either Party may be required by Applicable Laws to submit a copy of this Agreement to
the U.S. Securities and Exchange Commission (the “SEC”) or any national or sub-national securities regulatory body in any jurisdiction (collectively, the “Securities
Regulators”). If a Party is required by Applicable Laws to submit a description of the terms of this Agreement to or file a copy of this Agreement with any Securities Regulator, such Party agrees to consult and coordinate with the other
Party with respect to such disclosure or the preparation and submission of a confidential treatment request for this Agreement. Notwithstanding the foregoing, if a Party is required by Applicable Laws to submit a description of the terms of this
Agreement to or file a copy of this Agreement with any Securities Regulator and such Party has (i) promptly notified the other Party in writing of such requirement and any respective timing constraints, (ii) provided copies of the proposed
disclosure or filing to the other Party reasonably in advance of such filing or other disclosure and (iii) given the other Party a reasonable time (not less than five (5) Business Days) under the circumstances to comment upon and request
confidential treatment for such disclosure, then such Party will have the right to make such disclosure or filing at the time and in the manner reasonably determined by its counsel to be required by Applicable Laws or the applicable Securities
Regulator. If a Party seeks to make a disclosure or filing as set forth in this Section 9.4(b) and the other Party provides comments within the respective time periods or constraints specified herein, then the Party seeking to make such
disclosure or filing will in good faith consider incorporating such comments. 
 ARTICLE 10 

REPRESENTATIONS, WARRANTIES, AND COVENANTS 

10.1 Representations, Warranties of Each Party. Each Party represents and warrants to the other Party as of the Effective Date
that: 
 (a) it is a corporation or limited liability company duly organized, validly existing, and in good standing under the laws of the
jurisdiction of formation; 

  
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 (b) it has full corporate power and authority to execute, deliver, and perform this
Agreement, and has taken all corporate action required by Applicable Laws and its organizational documents to authorize the execution and delivery of this Agreement and the consummation of the transactions contemplated by this Agreement; 

(c) this Agreement constitutes a valid and binding agreement enforceable against it in accordance with its terms (except as the enforceability
thereof may be limited by bankruptcy, bank moratorium or similar laws affecting creditors’ rights generally and laws restricting the availability of equitable remedies and may be subject to general principles of equity whether or not such
enforceability is considered in a proceeding at law or in equity); and 
 (d) the execution and delivery of this Agreement and all other
instruments and documents required to be executed pursuant to this Agreement, and the consummation of the transactions contemplated hereby do not and shall not (a) conflict with or result in a breach of any provision of its organizational
documents, (b) result in a breach of any agreement to which it is a party; or (c) violate any Applicable Laws. 
 10.2
Representations and Warranties of Asana. Asana represents and warrants to Company as of the Effective Date that: 
 (a) Asana solely
owns the Patent Rights set forth on Exhibit 1.36; 
 (b) Asana has the right under the Licensed IP to grant the License to Company,
and it has not granted any Third Party or any Affiliate any license or other right under the Licensed IP to develop or commercialize any pharmaceutically active compound the principal mechanism of action of which is to inhibit the Target by directly
binding thereto or that is otherwise inconsistent with the License; 
 (c) Asana does not Control, and none of Asana’s Affiliates
Control, any pharmaceutically active compound the principal mechanism of action of which is to inhibit the Target by directly binding thereto other than those compounds the composition of matter of which is claimed by one or more of the Patent
Rights listed in Exhibit 1.36 as of the Effective Date; 
 (d) there is no pending litigation, nor has Asana or its Affiliates
received any written notice from any Third Party, asserting or alleging that the Development, manufacture or Commercialization of a Licensed Product prior to the Effective Date infringed or misappropriated the intellectual property rights of such
Third Party; 
 (e) there are no pending or, to its knowledge, no threatened (in writing), adverse actions, suits or proceedings against
Asana involving the Licensed IP or any Licensed Product; 
 (f) to its actual knowledge, the Licensed IP includes all Know-How owned or licensed by Asana or any of its Affiliates that is reasonably necessary or actually used to Develop, manufacture and Commercialize the Licensed Compounds and/or Licensed Products in the Field in
the Territory as such Development, manufacture and Commercialization is currently being conducted by Asana; 

  
 -22- 

 (g) to its actual knowledge (i) Asana has complied with all Applicable Laws applicable
to the prosecution and maintenance of the Licensed Patent Rights; (ii) all Licensed Patent Rights are being diligently prosecuted in the respective patent offices in accordance with Applicable Law, and the inventors thereof and parties
prosecuting such applications have complied in all material respects with their duty of candor and disclosure to the U.S. Patent and Trademark Office and other foreign patent offices in connection with such applications; (iii) Asana has
presented all references, documents, or information that it and the applicable inventors have a duty to disclose under Applicable Law, including 37 C.F.R. 1.56 or its foreign equivalent, to the relevant patent examiners at the relevant patent
offices for each Licensed Patent Right; (iv) the inventorship of the Licensed Patent Rights is properly identified on each issued patent within the Licensed Patent Rights and Asana has no knowledge of any disputes with respect to inventorship
of any Licensed Patent Rights; (v) all fees required to be paid by Asana in any jurisdiction in order to maintain the Licensed Patent Rights have been timely paid in full, and all administrative procedures with Governmental Authorities have
been completed for the Licensed Patent Rights such that the Licensed Patent Rights are subsisting and in good standing; and (vi) Asana has complied with all Applicable Laws applicable to its Development and manufacture of Licensed Products in
the Field; 
 (h) to its actual knowledge, the conception, development, and reduction to practice of the Licensed IP has not constituted or
involved the misappropriation of trade secrets or other rights or property of any Third Party; 
 (i) Asana does not have knowledge of any
fact or circumstance that would cause Asana to reasonably conclude that any of the Licensed Patent Rights are, or will be upon issuance, invalid or unenforceable; 

(j) to the extent permissible under Applicable Law, (i) all employees, agents, advisors, consultants, contractors or other representatives
of Asana or its Affiliates are under an obligation to assign all rights, title, and interests in and to the Licensed IP to Asana or its Affiliates as the sole owner thereof; (ii) Company will have no obligation to contribute to any remuneration
of any inventor employed or previously employed by Asana or any of its Affiliates in respect of any such Licensed IP so assigned to Asana or its Affiliate; and (iii) Asana will pay all such remuneration due to such Licensed IP; 

(k) Asana is not a party to any agreement with a Third Party under which Asana has obligations to such Third Party with respect to the use of
the Licensed IP that would conflict with the rights granted to Company hereunder; and 
 (l) Asana has not, and during the Term covenants
that it will not, evaluate whether to cease and terminate the development of the Licensed Product; and 
 (m) Asana is not, and has not been,
debarred or disqualified by any Regulatory Authority; and none of Asana’s employees or contractors who were or will be involved in the Development, manufacture or Commercialization of the Licensed Product are, or have been, debarred or
disqualified by any Regulatory Authority. 

  
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 10.3 Representations and Warranties of Company. Company represents and
warrants to Asana that: 
 (a) as of the Effective Date and as of the Closing of the Merger Agreement, there are no legal claims, judgments
or settlements against or owed by Company or any of its Affiliates, or pending or, to Company’s actual knowledge, threatened, legal claims or litigation, in each case, relating to antitrust, anti-competition, anti-bribery or corruption
violations; 
 (b) as of the Effective Date and as of the Closing of the Merger Agreement, Company and its Affiliates are not, and have not
been, debarred or disqualified by any Regulatory Authority; and none of Company or its Affiliates’ employees or contractors who will be involved in the Development, manufacture or Commercialization of the Licensed Product are, or have been,
debarred or disqualified by any Regulatory Authority; 
 (c) as of the Closing of the Merger Agreement, Company reasonably believes that it
has, or can readily obtain, sufficient financial resources to (i) perform all of its obligations pursuant to this Agreement and the Merger Agreement, and (ii) meet all of its obligations that come due in the ordinary course of business, in
each case ((i) and (ii)), up to and including achievement of, and Company has sufficient financial resources to achieve or reasonably believes it can obtain sufficient financial resources to achieve, the Phase 2 Study Milestone; and 

(d) as of the Closing of the Merger Agreement, Company (i) reasonably believes that it has, or can readily obtain, sufficient technical,
clinical, and regulatory expertise to perform all of its obligations pursuant to this Agreement and the Merger Agreement, including its obligations relating to Development, manufacturing, Commercialization, and obtaining Regulatory Approval and
(ii) has or can readily obtain sufficient technical, clinical, and regulatory expertise to achieve the Phase 2 Study Milestone. 
 For clarity, for
purposes of this Agreement, including this Section 10.3, the Company includes the successors and assigns of the Company, including pursuant to the Merger Agreement. 

10.4 Covenants of Company. Company covenants to Asana that: 

(a) in the course of performing its obligations or exercising its rights under this Agreement, Company and its Affiliates shall comply with all
Applicable Laws, including, as applicable, GMP, GCP, and GLP standards, and shall not employ or engage any Person who has been debarred by any Regulatory Authority or is the subject of debarment proceedings by a Regulatory Authority; 

(b) Company and its Affiliates will only engage Clinical Trial sites that conduct all Clinical Trials in compliance with Applicable Laws,
including GCP and the ICH Guidelines, and are approved by the applicable Regulatory Authority; 

  
 -24- 

 (c) Company and its Affiliates will not use any employees or contractors in the Development,
manufacture or Commercialization of the Licensed Product who are, or have been, debarred or disqualified by any Regulatory Authority; 
 (d)
Company will use diligent efforts to obtain sufficient financial resources to (i) perform all of its obligations pursuant to this Agreement and the Merger Agreement, and (ii) meet all of its obligations that come due in the ordinary course
of business; and 
 (e) Company will use diligent efforts to obtain sufficient technical, clinical, and regulatory expertise to perform all
of its obligations pursuant to this Agreement and the Merger Agreement, including its obligations relating to Development, manufacturing, Commercialization, and obtaining Regulatory Approval. 

10.5 NO OTHER WARRANTIES. EXCEPT AS EXPRESSLY STATED IN THIS ARTICLE 10 OR THE MERGER AGREEMENT, (A) NO REPRESENTATION,
CONDITION OR WARRANTY WHATSOEVER IS MADE OR GIVEN BY OR ON BEHALF OF ASANA OR COMPANY; AND (B) ALL OTHER CONDITIONS AND WARRANTIES WHETHER ARISING BY OPERATION OF LAW OR OTHERWISE ARE EXPRESSLY EXCLUDED, INCLUDING ANY CONDITIONS AND WARRANTIES
OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT. 
 10.6 Compliance with
Anti-Corruption Laws. 
 (a) Notwithstanding anything to the contrary in this Agreement, each Party agrees that: 

(i) it shall not, in the performance of this Agreement, perform any actions that are prohibited by local and other anti-corruption laws,
including the provisions of the United States Foreign Corrupt Practices Act that may be applicable to one or both Parties (collectively, “Anti-Corruption Laws”); 

(ii) it shall adhere to its own internal anti-corruption policies and shall not, in the performance of this Agreement, directly or indirectly,
make any payment, or offer or transfer anything of value, or agree or promise to make any payment or offer or transfer anything of value, to a government official or government employee, to any political party or any candidate for political office
or to any other Third Party with the purpose of influencing decisions related to either Party or its business in a manner that would violate Anti-Corruption Laws; 

(iii) it will promptly provide written notice to the other Party of any violations of Anti-Corruption Laws by such Party, its Affiliates or
sublicensees, or persons employed by or subcontractors used by such Party or its Affiliates or sublicensees in the performance of this Agreement of which it becomes aware; and 

(iv) it shall maintain records (financial and otherwise) and supporting documentation related to the subject matter of this Agreement in order
to document or verify compliance with the provisions of this Section 10.6, and upon request of the other Party, up to one time per Calendar Year and upon reasonable advance notice, shall provide the other Party or its representative with access
to such records for purposes of verifying compliance with the provisions of this Section 10.6. 

  
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 (b) Each Party represents and warrants that, to its knowledge, neither such Party nor any of
its Affiliates, or its or their directors, officers, employees, distributors, agents, representatives, sales intermediaries or other Third Parties acting on behalf of such Party or any of its Affiliates: 

(i) has taken any action in violation of any applicable Anti-Corruption Laws; or 

(ii) has corruptly offered, paid, given, promised to pay or give, or authorized the payment or gift of anything of value, directly or
indirectly, to any Public Official, for the purposes of: 
 (1) influencing any act or decision of any Public Official in his or her
official capacity; 
 (2) inducing such Public Official to do or omit to do any act in violation of his or her lawful duty; 

(3) securing any improper advantage; or 

(4) inducing such Public Official to use his or her influence with a government, governmental entity, or commercial enterprise owned or
controlled by any government (including state-owned or controlled veterinary, laboratory or medical facilities) in obtaining or retaining any business whatsoever. 

(c) Each Party further represents and warrants that, as of the Effective Date, none of the officers, directors or employees of such Party or of
any of its Affiliates or agents acting on behalf of such Party or any of its Affiliates, is a Public Official. 
 (d) For purposes of this
Section 10.6, “Public Official” means (i) any officer, employee or representative of any regional, federal, state, provincial, county or municipal government or government department, agency or other division;
(ii) any officer, employee or representative of any commercial enterprise that is owned or controlled by a government, including any state-owned or controlled veterinary, laboratory or medical facility; (iii) any officer, employee or
representative of any public international organization, such as the African Union, the International Monetary Fund, the United Nations or the World Bank; and (iv) any person acting in an official capacity for any government or government
entity, enterprise or organization identified above. 
 ARTICLE 11 

INDEMNIFICATION 

11.1 Indemnification by Company. Company shall indemnify and hold harmless Asana, its Affiliates, and their respective owners,
directors, managers, officers, employees, contractors, agents and assigns (individually and collectively, the “Asana Indemnitee(s)”) from 

  
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and against all losses, liabilities, damages and expenses (including reasonable attorneys’ fees and costs) (individually and collectively, “Losses”) incurred in connection
with any claim, demand, action or other proceeding by any Third Party (each, a “Claim”) to the extent arising from (a) the Development, manufacture or Commercialization of the Licensed Products by or on behalf of Company or any
of its Affiliates or sublicensees, (b) Company’s and its Affiliates’ and sublicensees’ negligent actions (or omissions) in the performance of its obligations with respect to Regulatory Submissions and interactions with Regulatory
Authorities with respect to the Licensed Products, (c) the negligence or intentional misconduct of Company or any of its Affiliates or sublicensees, (d) Company’s breach of any of its representations, warranties, covenants or
obligations set forth in this Agreement, or (e) the failure of Company or its Affiliates or sublicensees to abide by any Applicable Laws, in each case ((a) through (e)), except to the extent such Losses arise out of an Asana Indemnitee’s
negligence or intentional misconduct, breach of this Agreement, material failure to abide by any Applicable Laws. 
 11.2
Indemnification by Asana. Asana shall indemnify and hold harmless Company, its Affiliates, and their respective owners, directors, managers, officers, employees, contractors, agents and assigns (individually and collectively, the
“Company Indemnitee(s)”) from and against all Losses incurred in connection with any Claim against such Company Indemnitee to the extent (a) arising directly from the Development or manufacture of the Licensed Products by or on
behalf of Asana or any of its Affiliates prior to the Effective Date; (b) arising from the negligence or intentional misconduct of Asana or any of its Affiliates hereunder, (c) arising from Asana’s breach of any of its
representations, warranties, covenants or obligations set forth in this Agreement, or (d) arising from failure of Asana or its Affiliates to abide by any Applicable Laws in its performance hereunder, in each case ((a)-(d)), except to the extent
such Losses arise out of any of a Company Indemnitee’s negligence or intentional misconduct, breach of this Agreement or material failure to abide by any Applicable Laws. 

11.3 Indemnification Procedure. If either Party is seeking indemnification under Sections 11.1 or 11.2 (the “Indemnified
Party”), it shall inform the other Party (the “Indemnifying Party”) of the Claim giving rise to the obligation to indemnify pursuant to such Section within ten (10) Business Days after receiving written notice of the
Claim (it being understood and agreed, however, that the failure or delay by an Indemnified Party to give such notice of a Claim shall not affect the indemnification provided hereunder except to the extent the Indemnifying Party shall have been
actually and materially prejudiced as a result of such failure or delay to give notice). The Indemnifying Party shall have the right to assume the defense of any such Claim for which it is obligated to indemnify the Indemnified Party. The
Indemnified Party shall cooperate with the Indemnifying Party and the Indemnifying Party’s insurer as the Indemnifying Party may reasonably request, and at the Indemnifying Party’s cost and expense. The Indemnified Party shall have the
right to participate, at its own expense and with counsel of its choice, in the defense of any Claim that has been assumed by the Indemnifying Party. Neither Party shall have the obligation to indemnify the other Party in connection with any
settlement made without the Indemnifying Party’s written consent, which consent shall not be unreasonably withheld, conditioned or delayed. If the Parties cannot agree as to the application of Sections 11.1 or 11.2 as to any Claim, pending
resolution of the dispute pursuant to Section 14.4, the Parties may conduct separate defenses of such Claims, with each Party retaining the right to Claim indemnification from the other Party in accordance with Sections 11.1 or 11.2 upon
resolution of the underlying Claim. 

  
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 11.4 Limitation of Liability. NEITHER PARTY SHALL BE LIABLE TO THE OTHER FOR
ANY SPECIAL, CONSEQUENTIAL, INCIDENTAL, PUNITIVE, OR INDIRECT DAMAGES ARISING FROM OR RELATING TO ANY BREACH OF THIS AGREEMENT, REGARDLESS OF ANY NOTICE OF THE POSSIBILITY OF SUCH DAMAGES; PROVIDED THAT THIS SENTENCE IS NOT INTENDED TO AND SHALL NOT
LIMIT OR RESTRICT THE INDEMNIFICATION RIGHTS OR OBLIGATIONS OF ANY PARTY UNDER SECTIONS 11.1 OR 11.2, OR DAMAGES AVAILABLE FOR A PARTY’S BREACH OF SECTION 2.4 OR ITS OBLIGATIONS HEREUNDER RELATING TO CONFIDENTIALITY. IN NO EVENT SHALL THE
TOTAL AMOUNT OF LOSSES THAT THE PARENT INDEMNITEES ARE ENTITLED TO RECEIVE UNDER SECTION 7.02 OF THE MERGER AGREEMENT, PLUS ASANA’S LIABILITY IN CONNECTION WITH THIS AGREEMENT, IN THE AGGREGATE, EXCEED THE AMOUNT OF MERGER CONSIDERATION
(WITH THE UP-FRONT PARENT SHARES BEING VALUED, FOR PURPOSES OF SECTION 7.04 OF THE MERGER AGREEMENT AND THIS SECTION 11.4, AT $[***] AND THE MILESTONE PARENT SHARES BEING VALUED, FOR PURPOSES OF SECTION 7.04
OF THE MERGER AGREEMENT AND THIS SECTION 11.4, AT $[***]) ACTUALLY PAID OR ISSUED, AS APPLICABLE, PURSUANT TO THE MERGER AGREEMENT. THE PARTIES ACKNOWLEDGE THAT SUCH AMOUNT (BUT NOT SUCH VALUATION) MAY INCREASE OVER TIME AS THE DEVELOPMENT
MILESTONE PAYMENTS ARE MADE. 
 11.5 Insurance. Company shall procure and maintain insurance, including clinical trial and
product liability insurance, with respect to its activities hereunder and which is consistent with normal business practices of prudent companies similarly situated at all times during which any Licensed Product is being clinically tested in human
subjects or commercially distributed or sold in the Territory. Company shall provide Asana with evidence of such insurance upon request and shall provide Asana with written notice at least sixty (60) days prior to the cancellation, non-renewal or material changes in such insurance. Such insurance shall not be construed to create a limit of Company’s liability under this Agreement. Notwithstanding any provision of this Section 11.5 to
the contrary, Company may meet its obligations under this Section 11.5 through self-insurance. 
 ARTICLE 12 

INTELLECTUAL PROPERTY 

12.1 Patent Prosecution. 

(a) By Company. As between the Parties, Company will have the first right to control the Patent Prosecution of the Licensed Patent
Rights in the Field in the Territory, at Company’s sole cost and expense, using patent counsel or agents of its choice, reasonably acceptable to Asana. Company will keep Asana fully informed with regard to such Patent Prosecution, including by
providing Asana with (i) copies of all material correspondence and material communications it sends to or receives from any patent office or agency in the Territory relating to the Patent Prosecution of such Licensed Patent Rights, (ii) a
draft copy of all such patent 

  
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applications sufficiently in advance of filing to permit reasonable review and comment by Asana and the giving of due consideration to such comments and (iii) a copy of such patent
applications as filed, together with notice of its filing date and serial number. Before Company submits any material filing, including a new patent application, or response to such patent authorities, in each case, with respect to such Licensed
Patent Rights, Company will provide Asana with a reasonable opportunity to review and comment on such filing or response and will take into account and consider in good faith Asana’s comments regarding the Patent Prosecution of such Licensed
Patent Rights under this Section 12.1(a); provided that Company shall have final-decision making authority with respect to such Patent Prosecution activities. In addition, Company will provide Asana with copies of all final material filings and
responses made to any patent office with respect to the Licensed Patent Rights in a timely manner following submission thereof. 
 (b) By
Asana. If Company elects to cease the Patent Prosecution of, or allow to lapse, a given Patent Right within the Licensed Patent Rights in the Field in a given country in the Territory, then Company will give Asana written notice thereof within a
reasonable period (but not less than forty-five (45) days or as soon as practicable if Company is given less than forty-five (45) days by a patent office) prior to allowing such Patent Rights to lapse or become abandoned or unenforceable,
and Asana will have the right to assume responsibility for continuing the Patent Prosecution of such Patent Rights in such country in accordance with this Section 12.1(b), at Asana’s sole expense, through patent counsel or agents of its
choice. Upon transfer of Company’s responsibility for Patent Prosecution of any of the Licensed Patent Rights to Asana under this Section 12.1(b), Company will promptly deliver to Asana copies of all files related to such Patent Right with
respect to which responsibility has been transferred. 
 (c) Cooperation. Each Party shall provide the other Party all reasonable
assistance and cooperation in the Patent Prosecution efforts under this Section 12.1, including providing any necessary powers of attorney and executing any other required documents or instruments for such prosecution. 

12.2 Patent Enforcement. 

(a) Notice. Each Party shall notify the other within ten (10) Business Days of becoming aware of any alleged or threatened
infringement by a Third Party of any of the Licensed Patent Rights in the Field in the Territory and, in each case, any related declaratory judgment or equivalent action alleging the invalidity, unenforceability or
non-infringement of any Licensed Patent Rights (collectively “Infringement”). For clarity, excludes any Patent Prosecution proceedings. 

(b) Enforcement Rights. 

(i) Company shall have the sole right to bring and control any legal action to enforce Licensed Patent Rights against any Infringement in the
Territory at its sole expense as it reasonably determines appropriate. 
 (c) Cooperation. At Company’s request, Asana shall
provide reasonable assistance in connection therewith, including by executing reasonably appropriate documents, cooperating in discovery and joining as a party to the action if required by Applicable Laws to pursue such action, at Company’s
sole cost and expense. 

  
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 (d) Recoveries. Any recoveries resulting from an enforcement action relating to a
claim of Infringement will be retained by Company. 
 12.3 Infringement of Third Party Rights. If any Licensed Product used or
sold by Company, its Affiliates or sublicensees becomes the subject of a Third Party’s claim or assertion of infringement of any Patent Rights or infringement or misappropriation of other intellectual property rights in the Territory that are
owned or controlled by such Third Party, Company shall notify Asana within fifteen (15) days after receipt of such claim or assertion and provide Asana a copy of the applicable summons or complaint (or the equivalent thereof). 

12.4 Third Party Technologies. If, after the Effective Date, Asana acquires from a Third Party subject matter within the Licensed
Patent Rights or the Licensed Know-How (“New Technology”) that is subject to royalty, milestone or other payment obligations to such Third Party, then Asana shall so notify Company and
disclose to Company a true, complete and correct copy of the acquisition or license agreement for the New Technology, to the extent Asana has the right to do so pursuant to such agreement, including all payment obligations and the following shall
apply: If Company desires to receive a (sub)license to such New Technology, then Company shall notify Asana in writing and following such notification the rights and licenses granted to Company under this Agreement will include such New Technology
provided that Company shall promptly reimburse Asana for any milestones, royalties or other amounts that become owed to such Third Party by reason of the grant to, or exercise by or under the authority of, Company of such rights with respect to such
New Technology hereunder, and Company shall promptly reimburse Asana for a reasonable portion of any upfront fee or other similar amounts paid to acquire such New Technology to reflect the value of the rights granted to Company to such New
Technology hereunder. In the event Company does not notify Asana that it desires such (sub)license to the New Technology, then such New Technology shall thereafter be deemed excluded from the Licensed Patent Rights or Licensed Know-How, as applicable, hereunder. 
 12.5 Patent Term Extensions. Company will have the
right to seek and obtain patent term restoration or supplemental protection certificates or the like or their equivalents in any country or jurisdiction in the Territory, where applicable to Licensed Patent Rights, including as may be available to
the Parties under the provisions of the U.S. Drug Price Competition and Patent Term Restoration Act of 1984 or comparable laws outside the United States of America, in each case, in connection with any Licensed Product. Asana and Company will
cooperate in connection with all such activities. At Company’s request, Asana will provide to Company such information as reasonably necessary to calculate patent extensions, including development dates and activities conducted by Asana. 

12.6 Licensed Product Trademarks. Company shall have the right to brand Licensed Products in the Field in the Territory using
trademarks, logos, and trade names it determines appropriate for such Licensed Products, which may vary by country or jurisdiction or within a country or jurisdiction (the “Licensed Product Marks”); provided, however,
that Company shall not use any trademarks or house marks of Asana (including Asana’s corporate name) that are registered and in the public domain or that have otherwise been disclosed to Company or any

  
 -30- 

 
trademark confusingly similar thereto without Asana’s prior written consent. Company shall own all rights in the Licensed Product Marks in the Field in the Territory (excluding any such
marks that include, in whole or part, any corporate name or logos of Asana or its Affiliates or sublicensees) and shall register and maintain the Licensed Product Marks in the Field in the Territory that it determines reasonably necessary, at
Company’s cost and expense. 
 ARTICLE 13 

TERM AND TERMINATION 

13.1 Term. This Agreement shall be effective as of the Effective Date and, unless earlier terminated as set forth below, shall
expire upon the payment in full by Parent to Asana of the Merger Consideration, including the issuance of the Parent Shares (such period, the “Term”). Notwithstanding the foregoing, if the Breakthrough Designation Milestone was not
achieved but all other Merger Consideration was paid, then the Term shall expire provided that if Company or its Affiliate or sublicensee ever achieves the Breakthrough Designation Milestone with a subsequent or future Licensed Product, then Parent
shall pay the corresponding milestone payment for achievement of the Breakthrough Designation Milestone pursuant to Section 2.12 of the Merger Agreement. 

13.2 Expiration. Upon the expiration of the Term, the License shall become fully paid-up,
perpetual and irrevocable, and Company’s rights under Article 12 shall continue until the last to expire Patent Right included in the Licensed Patent Rights. 

13.3 Termination. 
 (a)
Termination by Company for Convenience. Company may terminate this Agreement at any time upon sixty (60) days prior written notice to Asana. 

(b) Termination for Material Breach. If either Party materially breaches this Agreement or, with respect to Company,
Parent breaches the payment obligations under the Merger Agreement (in which case, Company would be the breaching Party), at any time, the non-breaching Party shall have the right to terminate this Agreement
by written notice to the breaching Party unless such material breach is cured within ninety (90) days (or, with respect to any breach of any payment obligation, (30) days) after written notice is given by the
non-breaching Party to the breaching Party specifying the breach. 
 (c) Termination by Asana.
If at any time Company has not engaged in material activities in support of clinical Development or Commercialization of a Licensed Product for a period of [***] ([***]) consecutive months (“Activities Lapse”), then Asana may
terminate this Agreement upon thirty (30) days written notice to Company. Asana shall not have the right to terminate pursuant to this Section 13.3(c), in the case of an Activities Lapse that is due to reasons outside of Company’s
reasonable control (such as a regulatory hold or a force majeure event), provided that Company diligently and continuously pursues reasonable efforts to resume such activities as soon as possible. Company shall provide Asana prompt written notice of
any Activities Lapse. 

  
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 (d) Limitations on Termination. Notwithstanding this Section 13.3 above, after
achievement of the [***] Milestone (and payment of the associated Development Milestone Payment pursuant to Section 2.12(a) of the Merger Agreement and issuance of the Milestone Parent Shares), Asana’s right to terminate this Agreement
will be limited to (i), [***] and (ii) [***]; provided that Asana’s right to so terminate this Agreement pursuant to clause (i) or (ii) above shall end if (A) Parent pays Asana the Merger Consideration (other than the Breakthrough
Designation Milestone if the underlying event has not yet occurred), including the issuance of the Up-Front Parent Shares and the Milestone Parent Shares, or (B) Asana’s equity interest in Parent
issued to Asana (or its designee) pursuant to the Merger Agreement (the “Equity Consideration”) is publicly tradable on the Nasdaq Stock Market or New York Stock Exchange, whether as a result of an initial public offering, reverse
merger, special purpose acquisition company transaction or otherwise, and has a value equal to or greater than [***] dollars (USD $[***]) (the “Equity Value”) (which value shall be based on all shares of Equity Consideration
originally issued to Asana, and shall not give effect to any sales or other dispositions by Asana) determined as follows, either alone or in combination: 
  

	 	•	 	 Public Equity – based on a trailing twenty (20)-day volume
weighted average price per share of the stock of Parent (or its successor). 

  

	 	•	 	 Acquisition – in the case of an Acquisition of Parent, the Equity Value shall include all
consideration actually paid in respect of the Equity Consideration, including any up-front, milestone, royalty, escrow, earnout or other contingent consideration when actually paid. The value of any non-cash consideration (whether debt or equity securities or other property) paid as consideration in an Acquisition shall be determined as follows: (i) the value of securities for which there is an established
public market will be determined consistent with “Public Equity” above, and (ii) the value of securities that have no established public market, and the value of consideration that consists of other property, will be as set forth in
the definitive documents governing the Acquisition, or if the definitive documents do not provide a mechanism for valuing such securities, the value of such securities shall be the fair market value thereof as determined in good faith by
Parent’s Board of Directors; provided that if Asana objects to any such determination within ten (10) days of receiving notice thereof, such fair market value will be determined by an independent investment banking or business valuation
firm mutually agreeable to Parent and Asana (the costs of which shall be shared equally by Parent and Asana). If the consideration to be paid is computed in any foreign currency, the value of such foreign currency for purposes hereof shall be
converted into U.S. dollars as set forth in the definitive documents governing the Acquisition, or if the definitive documents do not provide a mechanism for valuing such foreign currency, the value of such foreign currency shall be determined at
the prevailing exchange rate on the date or dates on which such consideration is paid. 

 Notwithstanding anything to the contrary in this
Section 13.3(d), the limitation on termination described in Section 13.3(d)(B) shall not apply during any period in which Asana is contractually obligated to not dispose of its capital stock of Parent pursuant to a lock-up agreement entered into with the underwriters of a public offering of Parent’s securities. 

  
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 None of the foregoing limitations on Asana’s right to terminate the Agreement shall limit Asana’s
rights to pursue damages or other available remedies for Company’s breach of this Agreement, including for a failure of Parent to pay Asana any sums otherwise payable under the Merger Agreement. 

13.4 Effect of Termination. If this Agreement is terminated, the following shall apply (except that subsections (b), (c),
(d), (f) and (g) shall not apply in the event of termination by Company pursuant to Section 13.3(b)): 
 (a) License Grant to
Company. The License and all other rights granted by Asana to Company under the Licensed IP pursuant to this Agreement and all sublicenses granted by Company under the License shall terminate. 

(b) License Grants to Asana. Effective upon the termination of this Agreement, Asana shall have, and Company hereby grants to Asana,
(i) a worldwide, non-exclusive, fully paid-up, royalty-free, perpetual, irrevocable and sublicensable (through multiple tiers) license under the Company IP to
research, Develop, make, have made, use, import, export, offer for sale, sell and otherwise Commercialize Licensed Products and (ii) a worldwide, exclusive, fully paid-up, royalty-free, perpetual,
irrevocable and sublicensable (through multiple tiers) license under the Inventions (and all intellectual property rights therein, including any Patent Rights) to research, Develop, make, have made, use, import, export, offer for sale, sell and
otherwise Commercialize Licensed Products. The foregoing license would not include rights to any Patent Rights or Know-How Controlled by Company with respect to any active pharmaceutical ingredients that are
not Licensed Compounds. In the event that the Company IP includes Patent Rights or Know-How covering a combination of a Licensed Compound with another active pharmaceutical ingredient that Company in-licensed from a Third Party and that are subject to royalty, milestone or other payment obligations to such Third Party, then Company shall so notify Asana and disclose to Asana a true, complete and correct copy
of the acquisition or license agreement for such Company IP, to the extent Company has the right to do so pursuant to such agreement, including all payment obligations and the following shall apply: If Asana desires to receive a (sub)license to such
Company IP, then Asana shall notify Company in writing and following such notification the rights and licenses granted to Asana under this Agreement will include such Company IP; provided that Asana shall promptly reimburse Company for any
milestones, royalties or other amounts that become owed to such Third Party by reason of the grant to, or exercise by or under the authority of, Asana of such rights with respect to such Company IP hereunder, and Asana shall promptly reimburse
Company for a reasonable portion of any upfront fee or other similar amounts paid to acquire such Company IP to reflect the value of the rights granted to Asana to such Company IP hereunder. In the event Asana does not notify Company that it desires
such (sub)license to the Company IP, then such Patent Rights or Know-How shall thereafter be deemed excluded from the Company IP licensed to Asana under this Section 13.4(b). 

(c) Regulatory Submissions and Approvals. Upon Asana’s written request, Company shall provide Asana with copies of all Regulatory
Submissions made with respect to the Licensed Products by Company, its Affiliates or sublicensees, and assign to Asana (and shall provide Asana with a right of reference with respect to) such Regulatory Submissions and resulting Regulatory
Approvals, at Company’s cost and expense. In addition, upon Asana’s written request, Company shall, at its cost and expense, provide to Asana copies of all material related 

  
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documentation, including material non-clinical, preclinical and clinical data with respect to the Licensed Product that are held by or reasonably available
to Company, its Affiliates or sublicensees. The Parties shall discuss and establish appropriate arrangements with respect to safety data exchange for the Licensed Products; provided that Asana will assume all safety and safety database
activities for the Licensed Products no later than six (6) months after termination. 
 (d) Trademarks. Company shall transfer
and assign, and shall ensure that its Affiliates and sublicensees transfer and assign, to Asana, at no cost to Asana, all Licensed Product Marks relating to any Licensed Product and any applications therefor and goodwill relating thereto (excluding
any such marks that include, in whole or part, any corporate name or logos of Company or its Affiliates or sublicensees). Asana and its Affiliates and licensees shall have the right to use other identifiers specific to any Licensed Product (e.g.,
Company compound identifiers). Company shall also transfer to Asana any in-process applications for generic names for any Licensed Product. 

(e) Wind Down and Transition. Company shall be responsible, at its own cost and expense, but subject to the limitations below, for the
wind-down of Company’s and its Affiliates’ and its sublicensees’ Development, manufacture and Commercialization activities for the Licensed Products. Company shall, and shall cause its Affiliates and its sublicensees to, reasonably
cooperate with Asana to facilitate orderly transition of the Development, manufacture and Commercialization of the Licensed Products to Asana or its designee. Without limiting the foregoing, such assistance will include, to the extent requested by
Asana, (i) assigning or amending as appropriate any agreements or arrangements with Third Party vendors (including distributors) to Develop, manufacture, promote, distribute, sell or otherwise Commercialize the Licensed Products (including
assigning to Asana the Assigned Contracts, to the extent still in existence) or, to the extent any such Third Party agreement or arrangement is not assignable to Asana, reasonably cooperating with Asana to arrange to continue to provide such
services for a reasonable time after termination and otherwise make available to Asana the benefit of such agreement or arrangement; and (ii) to the extent that Company or its Affiliate is performing any activities described above in (i),
reasonably cooperating with Asana to transfer such activities to Asana or its designee and continuing to perform such activities on Asana’s behalf for a reasonable time after termination until such transfer is completed. Upon Asana’s
reasonable request within the first three (3) months following the termination of this Agreement, Company will make employees or agents of Company available to Asana for up to fifty (50) hours, in the aggregate, at no additional cost to
Asana, to facilitate such transition of the Licensed Products. Without limiting the foregoing, at Asana’s election and request, Company shall provide to Asana or its designee transitional supplies of any Licensed Product (including final
product, bulk drug substance, intermediates, works-in-process, formulation materials, reference standards, drug product clinical reserve samples, packaged retention
samples with respect thereto) at a price equal to Company’s fully burdened manufacturing cost, including the pass through of Company’s purchase price for such Licensed Product from Third Party manufacturers and costs incurred by Company
and allocable to such Licensed Product in accordance with United States generally accepted accounting principles, including costs of shipping, handling, quality assurance and storage, for up to twelve (12) months after the effective date of
such termination, under the terms of a commercially reasonable supply agreement to be negotiated in good faith by the Parties. 

  
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 (f) Inventory. At Asana’s election and request, Company shall transfer to Asana
or its designee any or all inventory relating to the Licensed Products (including all final product, bulk drug substance, intermediates, works-in-process, formulation
materials, reference standards, drug product clinical reserve samples, packaged retention samples with respect thereto) then in the possession or control of Company, its Affiliates or sublicensees. 

(g) Ongoing Clinical Trial. If, at the time of such termination, Company or its Affiliates or sublicensees are conducting any Clinical
Trial of a Licensed Product, then, at Asana’s election on a Clinical Trial-by-Clinical Trial basis: (i) Company shall, and shall cause its Affiliates and
sublicensees to, (A) cooperate with Asana to transfer the conduct of such Clinical Trial to Asana or its designee and complete such transfer promptly and, in any case, within six (6) months after the termination effective date or
(B) continue to conduct such Clinical Trial or any portion thereof, to the extent so requested by Asana, for a period requested by Asana up to a maximum of six (6) months after the termination effective date; and (ii) Company shall,
at its cost and expense, orderly wind-down the conduct of any such Clinical Trial that is not assumed by Asana pursuant to clause (i) above. Company shall continue to conduct any such Clinical Trial to be continued by Company pursuant to this
Section 13.4(g) in accordance with the terms and conditions of this Agreement and shall bear the costs of any such on-going Clinical Trials during such six (6)-month period; provided that Company shall
not be obligated to enroll any additional patients in such Clinical Trials during such six (6)-month period. 
 (h) Return of Confidential
Information. Company shall return (at Asana’s expense) or destroy all materials (including tangible and electronic materials) comprising, bearing or containing any Confidential Information of Asana that are in Company’s or its
Affiliates’ or sublicensees’ possession or control and provide written certification of such destruction; provided that Company may retain one copy of such Confidential Information for its legal archives solely to monitor compliance
with its obligations herein, and provided further, that Company shall not be required to destroy electronic files containing such Confidential Information that are made in the ordinary course of its business information back-up procedures pursuant to its electronic record retention and destruction practices that apply to its own general electronic files and information. 

13.5 Survival. Expiration or termination of this Agreement shall not relieve the Parties of any obligation accruing prior to such
expiration or termination. Without limiting the foregoing, the provisions of Article 9, Article 11, Article 12 (following expiration, but not termination) and Article 14, and Sections 13.1, 13.4, 13.5 and 13.6 shall survive the expiration or
termination of this Agreement. In addition, if this Agreement expires prior to the payment of the Breakthrough Designation Milestone, then Section 2.12 of the Merger Agreement shall survive such expiration. Notwithstanding the foregoing,
without limiting the rights and obligations of the Parties pursuant to Section 13.4 or Asana’s remedies hereunder in the event of Company’s breach of this Agreement, to the extent that Company or its Affiliate or sublicensee continues
to Develop or Commercialize any Licensed Compound or Licensed Product after the effective date of termination of this Agreement, Section 2.12 of the Merger Agreement shall survive such termination; provided, that, if such Licensed Compound
(other than a Licensed Compound described in subsection (a) or (b) of Section 1.33) or Licensed Product (other than a Licensed Product containing, incorporating or comprising a Licensed Compound described in subsection (a) or (b) of
Section 1.33) is Covered by a Licensed Patent Right that has been invalidated (other than as a result of a Patent Challenge), and is not Covered by any other Licensed Patent Right, 

  
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then Company’s payment obligations pursuant to such Section shall terminate. “Patent Challenge” means a proceeding filed or initiated by Company or any of its Affiliates or
sublicensees (directly or indirectly (e.g., through a Third Party)) in a court or by administrative proceeding seeking the invalidity or unenforceability or otherwise challenging or seeking to limit the scope of any Licensed Patent Right. 

13.6 Termination Not Sole Remedy. Termination is not the sole remedy under this Agreement and, whether or not termination is
effected and notwithstanding anything contained in this Agreement to the contrary, all other remedies in law or equity shall remain available except as agreed to otherwise herein. 

ARTICLE 14 

MISCELLANEOUS 
 14.1
Assignment. Except as provided in this Section 14.1, this Agreement may not be assigned or otherwise transferred, nor may any right or obligation hereunder be assigned or transferred, by either Party without the consent of the other
Party; provided, however, that (and notwithstanding anything elsewhere in this Agreement to the contrary) either Party may, without the written consent of the other Party, assign this Agreement and its rights and obligations hereunder in
whole or in part (a) to an Affiliate of such Party or, with respect to Asana, to a Person controlled (as defined in Section 1.4), directly or indirectly, by any Majority Investor or group of Majority Investors or (b) in connection
with the transfer or sale of all or substantially all of its assets or business related to the subject matter of this Agreement, or in the event of its merger or consolidation or similar transaction. Prior to the payment to Asana of all of the
Merger Consideration pursuant to the Merger Agreement, Company shall not assign or otherwise transfer this Agreement to any Affiliate or any Third Party, unless such Affiliate or Third Party agrees to be bound by all of the payment obligations set
forth in the Merger Agreement. Any attempted assignment not in accordance with this Section 14.1 shall be void. Any permitted assignee shall assume all assigned obligations of its assignor under this Agreement. 

14.2 Severability. Should one or more of the provisions of this Agreement become void or unenforceable as a matter of Applicable
Laws, then this Agreement shall be construed as if such provision were not contained herein and the remainder of this Agreement shall be in full force and effect, and the Parties will use their best efforts to substitute for the invalid or
unenforceable provision a valid and enforceable provision which conforms as nearly as possible with the original intent of the Parties. 

14.3 Governing Law; English Language. This Agreement shall be governed by and construed in accordance with the laws of the State
of Delaware and the patent laws of the United States without reference to any rules of conflict of laws. This Agreement was prepared in the English language, which language shall govern the interpretation of, and any dispute regarding, the terms of
this Agreement. 

  
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 14.4 Dispute Resolution. 

(a) If any dispute, claim or controversy of any nature arising out of or relating to this Agreement, including any action or claim based on
equity, tort, contract or statute, or concerning the interpretation, effect, termination, validity, performance or breach of this Agreement (each, a “Dispute”), arises between the Parties and the Parties cannot resolve such Dispute
through good faith discussions, within thirty (30) days of a written request by either Party to the other Party (“Notice of Dispute”), either Party may refer the Dispute to the Executive Officers for resolution. Each Party,
within five (5) Business Days after a Party has received such written request from the other Party to so refer such Dispute, shall notify the other Party in writing of the Executive Officer to whom such dispute is referred. If, after an
additional sixty (60) days after the Notice of Dispute, such Executive Officers have not succeeded in negotiating a resolution of the Dispute, and a Party wishes to pursue the matter, then either Party may initiate legal proceedings with
respect thereto in accordance with this Section 14.4. 
 (b) With respect to any Dispute, each of the Parties: (i) irrevocably
consents to the exclusive jurisdiction and venue in the Delaware Court of Chancery within the State of Delaware (or, if the Delaware Court of Chancery declines to accept jurisdiction over a particular matter, any court of the United States located
in the State of Delaware, or, if any such court of the United States located in the State of Delaware declines to accept jurisdiction over a particular matter, any state court located in the State of Delaware); (ii) agrees not to commence any legal
proceedings relating to or arising out of this Agreement or the transactions contemplated hereby in any jurisdiction or courts other than as provided in this Section 14.4; (iii) waives its right to a jury trial; (iv) agrees that process
shall be served upon such Party in the manner set forth in Section 14.8, and that service in such manner shall constitute valid and sufficient service of process and (v) waives and covenants not to assert or plead any objection that such
Party might otherwise have to such jurisdiction, venue or process, including that any suit or proceeding brought in any such court has been brought in an inconvenient forum. Notwithstanding the foregoing, a Party will be entitled to seek enforcement
of a judgment entered pursuant to this Section 14.4 in any court having competent jurisdiction thereof where enforcement is deemed necessary. 

(c) Notwithstanding the foregoing, any Excluded Claim may be submitted by either Party to any court of competent jurisdiction over such
Excluded Claim. As used in this Section 14.4, the term “Excluded Claim” means any dispute, controversy or claim that concerns (i) the validity, enforceability or infringement of any patent, trademark or copyright, or
(ii) any antitrust, anti-monopoly or competition law or regulation, whether or not statutory. 
 (d) Notwithstanding anything in this
Section 14.4 to the contrary, each Party shall have the right to apply to any court of competent jurisdiction for appropriate interim or provisional relief, as necessary to protect the rights or property of such Party, for clarity, without the
necessity of complying with the provisions of Section 14.4(a). 
 14.5 Force Majeure. Except for payment obligations
hereunder, neither Party shall be responsible to the other for any failure or delay in performing any of its obligations under this Agreement or for other nonperformance hereunder if such delay or nonperformance is caused by strike, fire, flood,
earthquake, accident, war, act of terrorism, epidemic or pandemic, act of God or of the government of any country or of any local government (including emergency shut-down, lock-down or
stay-at-home orders), or by any other cause unavoidable or beyond the control of any Party hereto. In such event, the Party affected will promptly notify the other Party
of such force majeure event, will diligently and continuously pursue reasonable efforts to resume performance of its obligations as soon as possible and will keep the other Party informed of actions related thereto. 

  
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 14.6 Waivers and Amendments. The failure of any Party to assert a right
hereunder or to insist upon compliance with any term or condition of this Agreement shall not constitute a waiver of that right or excuse a similar subsequent failure to perform any such term or condition by the other Party. No waiver shall be
effective unless it has been given in writing and signed by the Party giving such waiver. No provision of this Agreement may be amended or modified other than by a written document signed by authorized representatives of each Party. 

14.7 Relationship of the Parties. Nothing contained in this Agreement shall be deemed to constitute a partnership, joint venture,
or legal entity of any type between Asana and Company, or to constitute one as the agent of the other. Each Party shall act solely as an independent contractor, and nothing in this Agreement shall be construed to give any Party the power or
authority to act for, bind, or commit the other. 
 14.8 Notices. All notices, consents or waivers under this Agreement shall
be in writing and will be deemed to have been duly given when (a) scanned and converted into a portable document format file (i.e., pdf file), and sent as an attachment to an e-mail message, where,
when such message is received, a read receipt e-mail is received by the sender (and such read receipt e-mail is preserved by the Party sending the notice);
provided further that a copy is promptly sent by an internationally recognized overnight delivery service (receipt requested)(although the sending of the e-mail message shall be when the notice
is deemed to have been given), or (b) the earlier of when received by the addressee or five (5) days after it was sent, if sent by registered letter or overnight courier by an internationally recognized overnight delivery service (receipt
requested), in each case to the appropriate addresses and e-mail addresses set forth below (or to such other addresses and e-mail addresses as a Party may designate by
notice): 
 If to Asana:             Asana BioSciences, LLC 

997 Lenox Drive, Suite 220 

Princeton Pike Corporate Center 

Lawrenceville, NJ 08648 

Attention: CEO 
 With a copy to:

 Avtar Enterprise, LLC 
 400
Crossing Boulevard, 7th Floor 
 Bridgewater, NJ 08807 

Attention: Legal Department 

and: 
 Tarsadia 

520 Newport Center Drive, Twenty-First Floor 

Newport Beach, CA 92660 

Attention: Legal Department 

  
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 If to Company:          ASN Product Development, Inc. 

997 Lenox Drive, Suite 220 

Princeton Pike Corporate Center 

Lawrenceville, NJ 08648 

Attention: CEO 
 14.9
No Third Party Beneficiary Rights. This Agreement is not intended to and shall not be construed to give any Third Party any interest or rights (including any Third Party beneficiary rights) with respect to or in connection with any agreement
or provision contained herein or contemplated hereby, except as otherwise expressly provided for in this Agreement. Notwithstanding the foregoing, Asana and Company each acknowledge and agree that, following the Closing of the Merger Agreement and
for so long as Parent remains an Affiliate of Company, Parent is a third party beneficiary of the rights of Company and the obligations of Asana under this Agreement, with full rights of enforcement as if a party hereto in the event that any breach
of this Agreement adversely affects, or may reasonably be expected to adversely affect, Parent. 
 14.10 Entire Agreement. This
Agreement (including the Exhibits attached hereto), together with the Merger Agreement sets forth the entire agreement and understanding of the Parties as to the subject matter hereof and supersedes all proposals, oral or written, and all other
communications between the Parties with respect to such subject matter, including the Original Agreement. In the event that the terms of this Agreement and the Merger Agreement conflict, then the terms of the Merger Agreement shall control with
respect to matters pertaining to any payment to be made pursuant to such agreement, and this Agreement shall control in all other respects. 

14.11 Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument. Counterpart signature pages delivered by facsimile or similar electronic transmission (including via e-mail in PDF format or
via DocuSign) shall be deemed binding as originals. 
 14.12 Cumulative Remedies. No remedy referred to in this Agreement is
intended to be exclusive unless explicitly stated to be so, but each shall be cumulative and in addition to any other remedy referred to in this Agreement or otherwise available under law. For clarity, the amounts paid under the Merger Agreement
shall be available as damages for breaches of this Agreement, as applicable. 
 14.13 Export. Each Party acknowledges that the
laws and regulations of the United States restrict the export and re-export of commodities and technical data of United States origin. Each Party agrees that it will not export or re-export restricted commodities or the technical data of the other Party in any form in contravention of any Applicable Law or without appropriate United States and foreign government licenses. 

  
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 14.14 Notification and Approval. In the event that this Agreement or the
transaction(s) set forth herein are subject to notification or regulatory approval in one or more countries or jurisdictions in the Territory, then Development and Commercialization in such country(ies) or jurisdictions in the Territory will be
subject to such notification or regulatory approval. The Parties will reasonably cooperate with each other with respect to such notification and the process required thereunder, including in the preparation of any filing. Company will be responsible
for any and all costs, expenses, and filing fees associated with any such filing in any country in the Territory. 
 [Remainder of page
left blank intentionally.] 

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

			
	ASN PRODUCT DEVELOPMENT, INC.
		
	By:	 	 /s/ Sandeep Gupta

	Name: Sandeep Gupta
	Title: President and CEO
	
	ASANA BIOSCIENCES, LLC
		
	By:	 	 /s/ Sandeep Gupta

	Name: Sandeep Gupta
	Title: President and CEO

 Exhibit 1.6 

[***] 

 Exhibit 1.7 

[***] 

 Exhibit 1.8 

Assigned Contracts 

[***] 

 Exhibit 1.36 

Licensed Patent Rights 

[***] 

 Exhibit 1.50 

[***] SUCCESS CRITERIA 

[***] 

 Exhibit 4.1 

Technology Transfer 

[***] 

 Exhibit 5.2 

Development Plan Elements Preliminary, Subject to Refinement Post-Technology Transfer 

[***] 

 Exhibit 6.1 

Regulatory Transfer Items 

[***] 

 EXHIBIT B 

[***] MILESTONE SUCCESS CRITERIA 

[***] 

 EXHIBIT C 

SHARE ISSUANCE LETTER 

[***]

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