Document:

Exhibit 10.4

 

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Exhibit D

SPONSORED RESEARCH AGREEMENT

 

This Sponsored Research Agreement (this “Agreement”), effective as of the date of the signature of the underlying license agreement, SK2017-1696, dated November 13, 2017, (“Effective Date”), is between Memorial Sloan Kettering Cancer Center, a New York not-for-profit entity, with offices at 1275 York Avenue, New York, NY 10065 (“MSK”) and Y-mAbs Therapeutics, Inc., a Delaware corporation with a principal office at 750 3rd Avenue. New York, N.Y. 10017 (“Sponsor”). MSK and Sponsor may be individually referred to as a “Party”, and collectively as the “Parties”. This Exhibit D, including Appendix A and Appendix B attached hereto, replaces the Exhibit D (including Appendix B) of the License Agreement for MSK’s technology “CD33 Antibodies and constructs thereof” between Memorial Sloan Kettering Cancer Center and Y-mAbs Therapeutics, Inc., dated November 10, 2017 in its entirety, and such original Exhibit D is hereby cancelled and void.

 

WHEREAS, Sponsor is a clinical-stage biopharmaceutical company; and

 

WHEREAS, Sponsor desires to provide support for the research to be conducted at MSK; and

 

WHEREAS, MSK, a premier cancer center, through its Neuroblastoma Program, has valuable skill, experience, and the necessary expertise to conduct the research;

 

WHEREAS, the performance and support of such research is of mutual interest and benefit to Sponsor and MSK and is consistent with the academic, research, and public service objectives of MSK as a nonprofit, tax-exempt institution.

 

NOW THEREFORE, in consideration of the foregoing recitals, mutual agreements, and promises set forth below, and other good and valuable consideration, the receipt and sufficiency of which arc hereby acknowledged, the Parties agree as follows:

 

1.                        SPONSORED RESEARCH.

 

1.1.                            Research Plan. The research program subject to this Agreement is specified in Appendix A, which is incorporated herein by reference (the “Sponsored Research”).

 

1.2.                            Compensation. Sponsor will provide the financial support for the Sponsored Research as detailed in the budget Appendix B which is incorporated herein by reference, (the “Budget”). If, at any time, a Parry has reason to believe that the cost of the Sponsored Research will exceed the amount set forth in the Budget, such Party will notify the other Party, giving a revised budget for completion of the Sponsored Research.

 

1.3.                            By entering into this Agreement, the Parties specifically intend to comply with all applicable laws, rules and regulations as they may be amended from time to time, including but not limited to (i) the federal anti-kickback statute (42 U.S.C. 1320a-7(b)) and the related safe harbor regulations and  (ii) the limitation on certain physician referrals, also referred to as the “Stark Law” (42 U.S.C. 1395nn). Accordingly, no part of any

 

[****] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 

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consideration paid hereunder is a prohibited payment for the recommending or arranging for the referral of business of the ordering of items or services; nor are the payments intended to induce illegal referrals of business, If as a result of a change in law or otherwise this Agreement is reasonably determined by legal counsel of a Party to violate, or present an unacceptable risk of violating, any federal, state, or local laws, rules, or regulations, the Parties agree to negotiate in good faith revisions to any provision which is in, or which presents an unacceptable risk of, violation. The Parties acknowledge that rights of MSK may be subject to statutory rights of agencies of the United States government under terms of 35 USC§§200-212 or other statutes, or rights of other funding agencies.

 

2.                        ANIMAL STUDIES

 

2.1.                            Should warm-blooded animals be used in the Sponsored Research, MSK will comply with the applicable portions of the Animal Welfare Act (P.L. 99-158) and will follow the guidelines prescribed in the Public Health Services Policy on Humane Care and Use of Laboratory Animals.

 

2.2.                            MSK’s Animal Care and Use program does not conduct studies subject to the FDA Good Laboratory Practice (GLP) regulations. As a result, nonclinical studies conducted at MSK are not GLP studies. Since MSK does not incorporate GLP into its standard animal care, results obtained from animal studies at MSK cannot be described as GLP compliant and should not be so described in applications to the FDA or in other documents.

 

3.                        CONFIDENTIALITY

 

3.1.                            Confidential Information. During the Term, one Party (the “Disclosing Party”) may provide proprietary or confidential information necessary to conduct the Sponsored Research to the other Party (the “Receiving Party”). Accordingly, “Confidential Information” is: (i) data and other information that is disclosed by the Disclosing Party to the Receiving Party under this Agreement during the Term and which relates to the Sponsored Research, regardless of whether the information is disclosed in writing, orally, graphically, electronically, or in any other manner, and (ii) any information that is expressly marked or designated in writing as confidential and proprietary by the Disclosing Party. The Receiving Party acknowledges and agrees that the Disclosing Party reserves all rights in and to the Disclosing Party’s Confidential Information. This Agreement shall not constitute a license, assignment, or any other rights, expressed or implied, to the Disclosing Party’s Confidential Information, except as expressly provided in this Agreement Confidential Information does not include, and each Party has no obligation with respect to, any information which: (i) is already known to it; (ii) is or becomes publicly known through lawful means in no violation of this Agreement by the Receiving Party; (iii) is received from a third party, not bound by a duty confidentiality, without restriction and without breach of this Agreement; (iv) is independently developed by the Receiving Party without use of the Disclosing Party’s Confidential Information; or (v) is approved for release by written authorization of the Disclosing Party.

 

[****] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 

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3.2.                            Confidential Obligation. All Confidential Information disclosed under this Agreement will be held in confidence by the Receiving Party during the Term of this Agreement and for a period of five (5) years following termination or expiration of this Agreement. The Receiving Party shall maintain the confidentiality of the Disclosing Party’s Confidential Information with at least the same degree of care as it maintains the confidentiality of its own confidential information, and in any event, not less than a reasonable standard of care. Upon the Disclosing Party’s request, the Receiving Party shall promptly return to the Disclosing Party or destroy all copies of the Disclosing Party’s Confidential Information; provided, however, that the Receiving Party: (i) may retain a single copy of the Disclosing Party’s Confidential Information for the sole purpose of ascertaining its ongoing rights and responsibilities in respect of such information; and (ii) shall not be required to destroy any computer files stored securely by the Receiving Party or its Affiliates that are: (x) created during automatic system back up; or (y) retained for legal purposes by the Receiving Party or its Affiliates.

 

3.3.                            Covenants of Non-Use and Non-Disclosure. The Receiving Party may only use, copy and make extracts of the Disclosing Party’s Confidential Information in connection with and in the furtherance of the Sponsored Research. The Receiving Party shall not use the Disclosing Party’s Confidential Information for any other purpose without the prior written permission of the Disclosing Party. Except as provided below, the Receiving Party shall not disclose any of the Disclosing Party’s Confidential Information to any third Party without the prior written permission of the Disclosing Party.

 

3.3.1.                  The Receiving Party may disclose the Disclosing Party’s Confidential Information to the Receiving Party’s Affiliates and the directors, officers, employees, contractors, and consultants of the Receiving Party and its Affiliates who have a need to know the Confidential Information and only in connection with and in the furtherance of the Sponsored Research, after advising each of the obligations under this Agreement, and who are bound by obligations of confidentiality substantially similar to those in this Agreement. The Receiving Party shall be liable to the Disclosing Party for any breach by the Receiving Party’s directors, officers, employees, contractors, consultants, and its Affiliates.

 

3.3.2.                  If the Receiving Party is required by applicable law, judicial order or governmental regulation, then the Receiving Party will be permitted to disclose (and the Receiving Party shall not be required to destroy) any of the Disclosing Parly’s Confidential Information that is required to be disclosed by a governmental authority or applicable law in connection with a legal or administrative proceeding (including in connection with any regulatory approval process), provided that the Receiving Party: (i) notifies the Disclosing Party of any such disclosure requirement as soon as practicable; (ii) reasonably cooperate with the Disclosing Party (at the Disclosing Party’s cost) if the Disclosing Party seeks a protective order or other remedy in respect of any such disclosure and (iii) furnishes only that portion of the Confidential Information which the Receiving Party is legally required to disclose.

 

[****] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 

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3.4.                            Equitable Relief. Each Party acknowledges that disclosure or improper use of the Confidential Information might cause the other Party immediate and irreparable harm. Without limiting the following, each Party agrees that the other Party will be entitled to seek equitable relief in addition to any other remedies available.

 

3.5.                            Privacy. MSK will make all attempts to ensure that any information revealing a patient’s identity attached to patient samples or results from the Sponsored Research are removed (“PHI”). Should Sponsor be exposed to PHI despite MSK’s effort to de-identify any such information, Sponsor agrees to use good faith efforts to delete such PHI and further agrees that there shall be no time limit on the Parties’ obligation to maintain the confidentiality of PHI, including information whose identifiers may be ascertained by the exercise of reasonable effort through investigation. PHI shall be protected in compliance with all applicable regulations, rules and statutes including the Health Insurance Portability and Accountability Act of 1996 and regulations, laws and guidelines related thereto. Sponsor agrees to refrain from publishing or disclosing any part of such confidential PHI for any purpose. PHI must be maintained in confidence indefinitely. Sponsor shall require that its personnel respect the confidential nature of all medical information relating to MSK patients. Sponsor shall ensure that its personnel have been informed of, and shall comply with all applicable laws, rules, and regulations governing confidentiality, disclosure, and re-disclosure requirements of federal, state, and local laws, rules and regulations, and the standards of The Joint Commission, including but not limited to those provisions concerning HIV, genetic testing, alcohol or drug abuse, and mental health.

 

4.                        RESULTS, REPORTS, & PUBLICATION.

 

4.1.                            “Results” means data and information generated from the performance of the Sponsored Research during the term of this Agreement. Results expressly exclude Inventions. MSK will provide the Sponsor with a final report within [****] of the completion of the Sponsored Research and any periodic progress reports specified in Appendix A (“Reports”). MSK owns all Results and Reports arising from the Sponsored Research under this Agreement. Subject to Section 3 (Confidentiality), Sponsor shall have the right to use the Results disclosed to Sponsor in Reports for its internal research use and solely to the extent such use does not jeopardize MSK’s publication or intellectual property rights.

 

4.2.                            Publication. MSK is free to publish the Results, MSK will submit for review a copy of the proposed publication (including abstracts, or presentation to a journal, editor, meeting, seminar or other third party) resulting from the Sponsored Research to Sponsor at least [****] prior to submission for publication or presentation. If no response is received from Sponsor within those [****] it may be conclusively presumed that the publication may proceed without delay. Such delay will not, however, be imposed on the filing of any student diesis or dissertation.

 

4.2.1.                  If Sponsor determines such proposed publication contains Sponsor’s Confidential Information, it shall notify MSK within such [****] review period and MSK shall delete such Sponsor Confidential Information before proceeding with its

 

[****] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 

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planned publication, Upon MSK’s request, Sponsor and MSK shall work in good faith to develop substitute language that is scientifically comparable but does not disclose Sponsor’s Confidential Information. For the purpose of this provision only, the term Confidential Information shall not include the Sponsored Research data, results, materials, or description of the Sponsored Research methodology necessary for a meaningful publication, which may otherwise come within the definition of Confidential Information contained in Section 3 (Confidentiality).

 

4.2.2.                  If Sponsor determines and requests that the proposed publication or presentation contains patentable subject matter, MSK will delay the publication or presentation for a period of time not to exceed [****] to allow the filing of appropriate patent applications relating to such subject matter.

 

4.2.3.                  Any proposed publication disclosed to Sponsor hereunder is MSK’s Confidential Information. Sponsor shall hold such disclosure on a confidential basis and shall not disclose the information to any third party, or use the information, without the prior written consent of MSK.

 

4.3.                            Copyrights. Title to any copyright or copyrightable material first produced or composed in the performance of the Sponsored Research will remain with, or be assigned to, MSK.

 

5.                        INTELLECTUAL PROPERTY.

 

5.1.                            Inventions. “Invention” means any invention that is within the scope of the Sponsored Research and is first conceived and reduced to practice during the performance of the Sponsored Research funded under this Agreement that is or may be patentable or otherwise protectable under Title 35 of the United States Code. Ownership of an Invention shall track inventorship, inventorship of Inventions shall be determined according to United States patent law. Sponsor owns the entire right, title and interest in and to all Inventions developed by Sponsor personnel (“Sponsor Invention”). An Invention that is jointly developed by MSK and Sponsor personnel will be jointly owned (“Joint Invention”). MSK owns the entire right, title, and interest in and to all Inventions developed by MSK personnel (“MSK Invention”).

 

5.1.1.                  Invention Option. MSK grants Sponsor the first option to negotiate an exclusive or non-exclusive commercial license to MSK Inventions and the first option to negotiate an exclusive license to MSK rights in Joint Inventions.

 

5.1.2.                  Internal Use Only. MSK grants Sponsor a non-exclusive, non-commercial, non-transferable, royalty-free license under MSK’s rights in Joint Inventions and MSK Inventions for the Sponsor’s internal non-commercial research purposes.

 

5.2.                            Other Intellectual Property. Nothing contained in this Agreement shall affect, either directly or by implication, estoppel, or otherwise, the pre-existing rights of either Party in intellectual property developed prior to the Effective Date of this Agreement or intellectual property developed outside of this Agreement. All such intellectual property

 

[****] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 

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shall remain the property of its owner and the option granted to Sponsor in this Agreement shall not apply to such intellectual property.

 

6.                        Option.

 

6.1.                            Disclosure. Under MSK policy, inventions and discoveries which result from research or other activities carried out at MSK or with the substantial aid of its facilities or funds administered by it, are disclosed to MSK and are the property of MSK. If an Invention, is disclosed to MSK and MSK believes that it may be amenable to patenting and/or licensing, the MSK Office of Technology Development, in accordance with MSK policies and practices, will promptly notify the Sponsor, thereby creating a “Disclosure”. Sponsor shall hold the Disclosure on a confidential basis and shall not disclose the information to any third party, or use the information, without the prior written consent of MSK. Sponsor shall disclose to MSK any Joint Inventions.

 

6.2.                            Option Period. The options granted in §5.1.1 (lnvention Option) begin on the date the Sponsor receives the relevant Disclosure and ends [****] from that date (the “Option Period”).

 

6.3.                            Negotiation Period. If Sponsor elects to exercise the option, Sponsor will provide MSK written notice of said election (the “Notice”). Upon receipt of the Notice by MSK, the Parties will endeavor to negotiate in good faith, an acceptable license agreement within [****]  (the “Negotiation Period”). Licenses elected and negotiated by Sponsor are effective as of the date the Parties sign a separate license agreement, which will contain indemnity, insurance, and no-warranty provisions, in addition to other customary terms and conditions that are based on standards current in the industry. If the Negotiation Period expires and a license agreement has not been negotiated, all rights to the MSK Invention will remain with MSK.

 

7.                        PATENT PROSECUTION. MSK shall control the preparation and prosecution of all patent applications and the maintenance of all parents related to MSK Inventions and Joint Inventions. Sponsor shall, within [****] upon receipt of the Disclosure, determine whether to exercise its Option request MSK to file and prosecute any patent application, domestic or foreign, on the Invention described in the Disclosure.

 

7.1.                            If Sponsor requests MSK to file and prosecute such patent applications, Sponsor shall bear all costs incurred in connection with the preparation, filing, prosecution and maintenance of U.S. and foreign applications directed to said MSK or Joint Invention and the cost of any activities investigating patentability. MSK shall keep Sponsor advised as to all developments with regard to said application(s) and shall promptly provide to Sponsor copies of all documents received and/or filed in connection with the filing, prosecution or maintenance thereof in reasonable time, subject to statutory deadlines.

 

7.1.1.                  Sponsor may elect to discontinue its financial support of such prosecution and/or maintenance, provided Sponsor notifies MSK in writing of such decision to

 

[****] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 

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discontinue reasonably in advance of MSK’s need to respond to any statutory deadlines.

 

7.1.2.                  If Sponsor elects to discontinue the financial support of such prosecution and/or maintenance, then Sponsor thereby waives and gives up any right it may have under this Agreement to license the related MSK or Joint Invention and MSK may proceed with such preparation and prosecution at its own cost and expense. With regard to a Joint Invention, should the Sponsor subsequently use, license or sublicense any Joint Invention for economic gain, Sponsor shall reimburse all fees and expenses incurred by MSK in connection with the patent or other intellectual property protection which applies to such use, license or sublicense.

 

8.                        TERM AND TERMINATION.

 

8.1.                            Term. This Agreement commences on the Effective Date and continues until the earlier of: (i) the completion of the Sponsored Research: or (ii) two (2) year(s) from the Effective Date (“Term”). Sponsor and MSK will have the option to extend this Agreement for a specified period of time, either with or without further compensation, by the mutual written consent of duly authorized representatives of MSK and Sponsor.

 

8.2.                            Termination. Either Party may terminate this Agreement for any reason with [****] written notice. In the event of such early termination, Sponsor will reimburse MSK for all expenses incurred up to the date of termination, including, but not limited to, all non-cancelable obligations, and shall pro-rate financial support due based upon actual work performed and expenses committed pursuant to the Sponsored Research.

 

8.3.                            Survival. In the event of termination of this Agreement, the provisions of Sections  3 (Confidentiality), 4 (Results, Reports & Publication), 5 (Intellectual Property), 7 (Patent Prosecution) 8 (Term and Termination), 9 (Indemnification), 10 (Disclaimer and Warranties/Limitation of Liabilities), 11 (Use of Name) and 14 (Miscellaneous) will remain in effect, as well as any other provisions of this Agreement, as are necessary to effect the purposes of this Agreement.

 

9.                        INDEMNIFICATION. The Sponsor will defend, indemnify and hold MSK, the MSK Investigator and any of MSK’s employees, trustees, officers. Affiliates and agents, harmless from any claim, suit, loss, cost, damage, liability or expense arising out of Sponsor’s (including Sponsor’s employees, Affiliates, contractors, licensees or agents) performance or actions under this Agreement, the Sponsor’s use of any information, results, or deliverables, MSK’s use of Sponsor Resources for the purposes provided by Sponsor, and/or claims by or relating to Sponsor Staff. Such defense will be conducted by attorneys reasonably acceptable to both Parties. Sponsor may not settle any claims admitting MSK’s fault without MSK’s express prior written approval.

 

10.                 DISCLAIMER OF WARRANTIES/LIABILITY LIMITATION. ANY RESULTS, REPORTS, MATERIALS, 1NVENTIONS, TECHNOLOGIES, INTELLECTUAL.

 

[****] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 

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PROPERTY OR OTHER PROPERTY OR RIGHTS GRANTED, GRANTED ACCESS TO, OR PROVIDED BY MSK PURSUANT TO THIS AGREEMENT ARE ON AN “AS IS” BASIS. MSK MAKES NO WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, AS TO ANY MATTER INCLUDING, BUT NOT LIMITED TO, WARRANTY OF FITNESS FOR PARTICULAR PURPOSE, MERCHANTABILITY, EXCLUSIVITY OR TO FREEDOM FROM INTELLECTUAL PROPERTY INFRINGEMENT. MSK IS NOT LIABLE TO SPONSOR FOR INDIRECT, SPECIAL, PUNITIVE OR CONSEQUENTIAL DAMAGES SUCH AS LOSS OF PROFITS OR INABILITY TO USE SAID INTELLECTUAL PROPERTY OR ANY APPLICATIONS AND DERIVATIONS THEREOF. SPONSOR AGREES THAT IT WILL NOT MAKE ANY WARRANTY ON BEHALF OF MSK, EXPRESSED OR IMPLIED, TO ANY PERSON.

 

11.                 USE OF NAME. Neither Party will, without the prior written consent of the other Party, use in any advertising, publicity, or otherwise, the name, trademark, logo, symbol, other image of the Party, or any variation thereof, or that of the Party’s employees, agents, related schools, departments, or Affiliates.

 

12.                 INSURANCE. Sponsor will maintain insurance in type and amount sufficient to satisfy its obligations under this Agreement.

 

13.                 NOTICES. Any notice or communication required or permitted to be given to a Parry under this Agreement will be made in writing and sent by registered or certified mail or by a nationally recognized overnight courier service. Notices under the preceding sentence will be deemed given on the date of receipt.

 

	
If to MSK
    	
 
    	
If to Sponsor
    
	
Memorial Sloan Kettering Cancer Center
    	
 
    	
Y-m Abs Therapeutics, Inc
    
	
Attn:
    	
Gregory Raskin, M.D.
    	
 
    	
Attn:
    	
Thomas Gad
    
	
 
    	
Vice President,
    	
 
    	
 
    	
Chairman, President
    
	
 
    	
Technology Development
    	
 
    	
750 3rd Avenue. 9th Floor
    
	
1275 York Avenue, Box 524
    	
 
    	
New York, N.Y. 10017
    
	
New York, NY 10065
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
with a copy to:
    	
 
    	
with a copy to:
    
	
Office of Technology Development
    	
 
    	
Satterlee Stephens LLP
    
	
Attn:
    	
Shilpi Banerjee, Esq., Ph.D.
    	
 
    	
Attn:
    	
Dwight A. Kinsey, Esq
    
	
 
    	
Chief Intellectual Property Counsel
    	
 
    	
 
    	
General Counsel
    
	
1275 York Avenue, Box 524
    	
 
    	
230 Park Avenue, Suite 1130
    
	
New York, N.Y. 10065
    	
 
    	
New York, N.Y. 10169
    

 

A Party may change its contact Information immediately upon written notice to the other Party given in the manner provided in this Section 13.

 

[****] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 

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14.                 MISCELLANEOUS

 

14.1.                     Tax Exempt Status. MSK is a nonprofit 501(c)(3) corporation. Sponsor agrees that if this Agreement is subject to taxation by any governmental authority, Sponsor will pay these taxes in full. MSK will have no liability for the payment of any taxes.

 

14.2.                     Governing Law and Venue. The Parties expressly agree that this Agreement and the enforcement of the rights and obligations hereunder shall be governed by and construed in accordance with the laws of the State of New York, without regard to its provisions concerning the applicability of the laws of other jurisdictions. Any and all claims arising out of, relating to or in connection with this Agreement, or the relationship between the Parties hereto, shall be subject to the exclusive jurisdiction of and venue in the federal and state courts within New York and each Party hereby consents to the exclusive jurisdiction and venue of these courts, without regard to any conflicts of law principles. Each Party agrees that all claims and matters may be heard and determined in any such court and each Party waives any right to object to such action on venue, forum non conveniens, or similar grounds.

 

14.3.                     Headings. The captions or headings in this Agreement do not form part of this Agreement, but are included solely for convenience.

 

14.4.                     Affiliates. “Affiliates” as used in this Agreement, means any person, firm, corporation or other entity controlling, controlled by, or under common control with a Party hereto. The term “control” wherever used throughout this Agreement shall mean ownership, directly or indirectly, of more than fifty percent (50%) of the equity capital or the ability to effect the election of a majority of the directors. With regard to MSK, “Affiliates” shall include: Memorial Sloan Kettering Cancer Center, Sloan Kettering Institute for Cancer Research, and Memorial Hospital for Cancer and Allied Diseases.

 

14.5.                     Waiver, Amendment. No waiver, amendment or modification of this Agreement will be effective unless in writing and signed by both Parties.

 

14.6.                     Assignment. Neither Party may assign this Agreement or delegate any of its obligations hereunder without the prior written consent of the other Party; however, this Agreement will be binding on any successors or permitted assigns of either Party. Any purported assignment of rights or delegation of performance in violation of this Section is void.

 

14.7.                     Risk; Severability. In the event that the performance of any covenant, condition or provision of this Agreement should jeopardize MSK’s status with regard to (i) licensure, (ii) participation in Medicare or Medicaid programs, (iii) full accreditation by The Joint Commission; or (iv) tax exempt status or the tax exempt status of any financing, this Agreement shall be renegotiated so as to eliminate the violation or non-complying aspects hereof, but without altering all other material rights and obligations of the Parties hereunder (hat reasonably can be given effect If the Parties cannot promptly agree on the renegotiated provisions, either Party may terminate upon [****] written notice to the other Party. If any term or condition of this Agreement is contrary to applicable law, such term or condition will not apply and will not invalidate any other part of this

 

[****] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 

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Agreement. However, if its deletion materially and adversely changes the position of either of the Parties, the affected Party may terminate this Agreement by giving [****] written notice.

 

14.8.                     No Agency. Neither Party is agent, servant, employee, legal representative, partner or joint venturer of the other. Nothing herein will be deemed or construed as creating a joint venture or partnership between the Parties and neither Party has the power or authority to bind or commit the other.

 

14.9.                     No Third Party Beneficiaries. This Agreement does not create any rights, or rights of enforcement, in third parties.

 

14.10.              Independent Developments. Nothing contained in this Agreement will prevent either Sponsor or MSK from entering into research projects with third parties which are similar to the Sponsored Research herein, or from independently developing (either through third parties or through the use of its own personnel), or from acquiring from third parties, technologies or products which are similar to and competitive with Inventions resulting from the Sponsored Research. Further, nothing herein will be construed to grant either Party any rights in any such independently developed technologies or products so developed or acquired as described in this section or any rights to the revenues or any portion thereof derived by the other from the use, sale, lease, license or other disposal of any such technologies or products. Furthermore, nothing herein will preclude either Party from transferring any such technologies or products to others including to users of the Inventions resulting from the Sponsored Research.

 

14.11.              Export Controls. Each Parry acknowledges that any information or materials provided by the other under this Agreement may he subject to U.S. export laws and regulations, including the International Traffic in Arms (ITAR) Regulations (22 CFR Chapter I, Subchapter M, Parts 120-130), Export Administration Regulations (EAR) (15 CFR Chapter VII, Subchapter C, Parts 730-774), Office of Foreign Assets Control (OFAC) Regulations (31 CFR, Subtitle B, Chapter V), and Assistance to Foreign Atomic Energy Activities (10 CFR Part 810); each Party agrees to comply with all such laws. Because MSK is an academic institution and has many faculty, staff, students, and visitors who are foreign persons, MSK intends to conduct the Sponsored Research as fundamental research under the export regulations, such that the results generated by MSK qualify as “public domain” under ITAR Parts 120 10 and 120.11 or “publicly available” under EAR Parts 734.3(b)(3) and 734.8(a,b). Sponsor will not knowingly disclose, and will use commercially reasonable efforts to prevent disclosure to MSK of any information subject to export controls under the ITAR’s United States Munitions List (USML, 22 CFR Part 121), the EAR’S Commerce Control List (CCL, 15 CFR Part 774 and Supplements), or 10 CFR Part 810 Restricted Data or Sensitive Nuclear Technology. If for purposes of the Sponsored Research, Sponsor intends to disclose export-controlled information to MSK, Sponsor will not disclose such information to MSK unless and until a plan for transfer, use, dissemination and control of the information has been approved by MSK. If Sponsor learns of an export control classification by the U.S. or any other government during the course of the Research, Sponsor shall inform MSK of such promptly. In the event Sponsor

 

[****] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 

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inadvertently (i) discloses export controlled information or (ii) breaches this Section 14.11, deadlines contemplated by the Sponsored Research will be adjusted based on the time it takes to address the disclosure. The Sponsor represents and agrees that it shall not export from the U.S. directly or indirectly, or transfer to a non-U.S. Person located in the U.S., any technical information (or the direct product thereof) furnished to the Sponsor either directly or indirectly by MSK without first complying with all requirements of all relevant U.S. export regulations, including any government license requirements, if applicable. Sponsor agrees to indemnify, defend and hold harmless MSK, its officers, agents and employees from all liability involving, the violation of such export regulations, either directly or indirectly by the Sponsor. Sponsor acknowledges it may be subject to criminal liability under U.S. laws for the Sponsor’s failure to obtain any required export licenses.

 

14.12.              Force Majeure. Each of the Parties will be excused from performance of this Agreement only to the extent that performance is prevented by conditions beyond the reasonable control of the Party affected, The Parties will, however, use their best efforts to avoid or cure such conditions. The Party claiming such conditions as an excuse lor delaying performance will give prompt written notice of the conditions, and its intent to delay performance, to the other Party and will resume its performance as soon ax performance is possible.

 

14.13.              Entire Agreement. This Agreement embodies the entire agreement of the Parties. It supersedes all prior agreements between the Parties with respect to the subject mailer.

 

14.14.              Counterparts. This Agreement may be executed by one or more counterparts by the Parties by signature of a person having authority to bind the Party, each of which when executed and delivered by facsimile, electronic transmission or by mail delivery, will be an original and all of which will constitute but one and the same Agreement. The Parties agree to the use of electronic signatures, and agree to being subject to the provisions of the U.S. K-S1GN Act (i.e.,  the Electronic Signatures in Global and National Commerce Act (enacted June 30, 2000, and codified at 15 U.S.C. § 7001 ct seq)).

 

IN WITNESS WHEREOF, the authorized representatives of the Parties have executed this Agreement below:

 

	
SPONSOR
    	
MEMORIAL   SLOAN KETTERING
    
	
 
    	
CANCER   CENTER
    
	
 
    	
 
    	
 
    	
 
    
	
By:
    	
/s/ Thomas Gad
    	
 
    	
By:
    	
/s/ Eric   Cottington
    
	
Name:
    	
Thomas Gad
    	
 
    	
Name:
    	
Eric Cottington,   Ph.D.
    
	
Title:
    	
Chairman, President
    	
 
    	
Title:
    	
Senior Vice   President, Research and Techonology Management
    
	
Date:
    	
3/2/2018
    	
 
    	
Date:
    	
3-5-18
    

 

	
 
    	
Although not   individually a party to this Agreement, I, the undersigned MSK Investigator,   as an employee of MSK, have read and understand the terms of this Agreementy.
    
	
 
    	
 
    
	
 
    	
By:
    	
[****]
    
	
 
    	
Name:
    	
[****]
    

 

[****] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 

11

 

	
 
    	
Title:
    	
[****]
    
	
 
    	
Date:
    	
3/5/18
    

 

[****] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 

12

 

[****]

 

APPENDIX A

The Sponsored Research

 

[****]

 

[****] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 

13

 

[****]

 

APPENDIX B

PROJECT BUDGET

 

1.                                      Payment Method. Sponsor will make payments to, and checks made payable to “Memorial Sloan Kettering Cancer Center”, and will have: (i) a note on the check stub or on its transmittal Letter that the payment relates to this Agreement; (ii) references the MSK Investigator; (iii) the [****]; and (iv) the invoice number. Payments will be sent to the Mowing address (or other address, or direct wire transfer, as may be agreed to by the Parties):

 

Memorial Sloan Kettering Cancer Center

P.O. Box 29035

New York, N.Y. 10087

 

1.1.                            Should Sponsor fail to pay MSK monies due and payable hereunder for more than [****] following the date of invoicing or payment due under a Budget, MSK will have the right to terminate this Agreement on [****]  written notice, unless Sponsor pays MSK within the [****] period all such payments due. Upon failure to receive timely payment MSK may choose to halt any current work until full payments (including late fees) arc received. Sponsor shall be responsible for all collection costs associated with non-payment.

 

1.2.                            Payments made after the due date will accrue interest beginning the [****] following the due date, calculated at the annual rate of the sum of: (i) [****]; plus (ii) the prime interest rate quoted by the Wall Street Journal on the date said payment is due.

 

2.                                      Equipment and Property. Title to and ownership of all equipment and property provided to or purchased by MSK under this Agreement will be in and remain with MSK even after completion or termination of this Agreement.

 

3.                                      Budget and Payment Schedule.

 

Payment Schedule. MSK shall invoice [****] of the total annual budget for each year of research detailed under “Total Budget “ on the following page at the beginning of each calendar quarter, except that the first invoice for [****] of the total annual budget for Year I shall be sent immediately upon execution of this Agreement, the second invoice shall follow at the beginning of the following quarter.

 

[****] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 

14

 

[****]

 

	
BUDGET CATEGORY
    	
 
    	
YEAR ONE
    	
 
    	
YEAR TWO
    	
 
    	
TOTAL
    
	
TOTALS
    	
 
    	
[****]
    	
 
    	
[****]
    	
 
    	
[****]
    
	
A.PERSONNEL COSTS (including Fringe)
    	
 
    	
[****]
    	
 
    	
[****]
    	
 
    	
[****]
    
	
B. OTHER COSTS
    	
 
    	
[****]
    	
 
    	
[****]
    	
 
    	
[****]
    
	
MAJOR EQUIPMENT
    	
 
    	
[****]
    	
 
    	
[****]
    	
 
    	
[****]
    
	
TRAVEL COSTS
    	
 
    	
[****]
    	
 
    	
[****]
    	
 
    	
[****]
    
	
MATERIALS, SUPPLIES, AND CONSUMAHLES
    	
 
    	
[****]
    	
 
    	
[****]
    	
 
    	
[****]
    
	
CONSULTANT COSTS
    	
 
    	
[****]
    	
 
    	
[****]
    	
 
    	
[****]
    
	
SUBAWARD/CONSORTIUM/ CONTRACTUAL COSTS
    	
 
    	
[****]
    	
 
    	
[****]
    	
 
    	
[****]
    
	
ANIMAL COSTS
    	
 
    	
[****]
    	
 
    	
[****]
    	
 
    	
[****]
    
	
RESEARCH-RELATED SUBJECT COSTS
    	
 
    	
[****]
    	
 
    	
[****]
    	
 
    	
[****]
    
	
OTHER EXPENSES
    	
 
    	
[****]
    	
 
    	
[****]
    	
 
    	
[****]
    
	
C. TOTAL DIRECT COSTS
    	
 
    	
[****]
    	
 
    	
[****]
    	
 
    	
[****]
    
	
D. TOTAL INDIRECT COSTS (71/1% IDC)
    	
 
    	
[****]
    	
 
    	
[****]
    	
 
    	
[****]
    
	
E.TOTAL COST
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

4.                                      Invoice Instructions from Sponsor.

 

4.1.                            Purchase Order No [****]

4.2.                            Invoices are to be submitted As follows: bk@ymabs.com

 

[****] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 

15Exhibit 10.6

 

[****]

 

MASTER DATA SERVICES AGREEMENT

 

This MASTER DATA SERVICES AGREEMENT (together with Appendix A and any Project Descriptions (as defined in Section 1), the “Agreement”) is made on September 20, 2016 (the “Effective Date”) by and between YMABS THERAPEUTICS, INC., a for profit having a place of business at 701 Gateway Drive, Suite 200, South San Francisco, Ca 94080 (“Ymabs”) and MEMORIAL SLOAN KETTERING CANCER CENTER, a New York membership corporation with principal offices at 1275 York Avenue, New York, New York 10065 (“Institution”).

 

1.                                      Background and Definitions. Ymabs and Institution have entered into an Exclusive License Agreement dated as of August 20, 2015 (the “License Agreement”) pursuant to which, among other things, (i) Ymabs has obtained exclusive license rights to the Licensed Products (as defined in the License Agreement) and (ii) Institution has agreed to transfer clinical data and databases, regulatory files and other Licensed Know-How to Ymabs and Ymabs’s designees. Capitalized terms used, but not defined in this Agreement, are used as defined in the License Agreement.

 

1.1.                            “Affiliate” means, with respect to either Ymabs or Institution, any corporation company, partnership, joint venture and/or firm which controls, is controlled by or is under common control with Ymabs or Institution, as applicable. For the purpose of this definition, “control” means (i) in the case of corporate entities, direct or indirect ownership of more than percent (50%) of the stock or shares having the right to vote for the election of directors (or such lesser percentage that is the maximum allowed to be owned by a foreign corporation in a particular jurisdiction); and (ii) in the case of non-corporate entities, the direct or indirect power to manage, direct or cause the direction of the management and policies of the non-corporate entity or the power to elect more than fifty percent (50%) of the members of the governing body of such non-corporate entity.

 

1.2.                            “Applicable Law” means all applicable ordinances, rules, regulations, laws, guidelines, guidances, requirements and court orders of any kind whatsoever of any Authority, as amended from time to time, including Good Laboratory Practices (GLP) and/or Good Clinical Practices (GCP).

 

1.3.                            “Ymabs Representative” has the meaning set forth in Section 3.1.

 

1.4.                            “Authority” means any government regulatory authority responsible for granting approvals for the performance of Services under this Agreement or for issuing regulations pertaining to the Licensed Products or the Services, including the FDA.

 

1.5.                            “Facility” means the Institution’s 1275 York Avenue, New York, NY 10065.

 

1.6.                            “FDA” means the United States Food and Drug Administration, and any successor agency having substantially the some functions.

 

1.7.                            “Institution Personnel” has the meaning set forth in Section 4.2.

 

1.8.                            “Materials” has the meaning set forth in Section 6.1.

 

1.9.                            “Project Description” has the meaning set forth in Section 2.

 

1.10.                     “Project Leader” has the meaning set forth in Section 3.1.

 

1

 

1.11.                     “Records” has the meaning set forth in Section 6.3.

 

1.12.                     “Services” means the transfer of clinical date and databases, regulatory files and other Licensed Know-How to Ymabs and Ymabs’ designees, and/or other services for clinical studies as described in a Project Description entered into by the parties.

 

2.                                      Agreement Structure. From time to time, Ymabs may request that Institution provide certain Services. This Agreement contains general terms and conditions under which Ymabs would engage Institution and under which Institution would provide such Services. Ymabs and Institution must complete and execute a project description referencing this Agreement (each, a “Project Description”) before any Services arc provided. Each Project Description will include, at a minimum, the information relating to the specific Services outlined in the sample Project Description attached as Appendix A. Once executed, each Project Description becomes part of this Agreement, although the terms in a Project Description will apply only to Services described in that Project Description. A Project Description may not change any term in this Agreement

 

3.                                      About Services.

 

3.1.                            Provision of Services. Institution agrees to provide all Services identified in any Project Description: (a) within the time period specified in the relevant Project Description; and (b) with the requisite care, skill and diligence. For each Project Description. Institution will designate a “Project Leader” who will be available for communications with Ymabs regarding Services provided under that Project Description, as well as contacts for administrative and payment matters for those Services. Ymabs will designate an “Ymabs Representative” who will be the point of contact for the Project Leader. Institution will provide all staff necessary to perform the Services in accordance with the terms of the applicable Project Description and this Agreement.

 

3.2.                            Subcontracting. Institution may not subcontract the performance of specific obligations of Institution under a Project Description to any third party without Ymabs’s prior written approval (such prior written approval shall not be unreasonably withheld), and provided, that, if such approval is given (a) such third party performs those Services in a manner consistent with the terms and conditions of this Agreement.

 

3.3.                            Audits. With reasonable notice by Ymabs to Institution and during normal bussness hours and mutually agreed upon times. Institution will allow Ymabs employees and representative to review Institution’s standard operating procedures and records pertaining to Services and to inspect the facilities used to render Services. In addition, the Project Leader and the Ymabs Representative and their designees will participate in meetings to review the performance of Services and to coordinate Services as necessary. The Ymabs Representative, or his or her designee, will also have access during normal business hours and mutually agreed upon times to observe performance of the Services. If any Authority wishes to audit Institution in connection with the Services or any Licenced Product, Institution agrees, to the extent feasible and not legally prohibited to (a) promptly notify Ymabs of such audit and cooperate with Ymabs and/or its designees with respect to audit preparation, and (b) cooperate with the Authority, comply with the legitimate requirements of the audit, and make appropriate Institution Personnel available to explain and discuss records and documentation related to the Services of Licensed Product, as the case may be.

 

2

 

3.4.                            Regulatory Contacts. Expect as otherwise specified in a Project Description, Ymabs will be solely responsible for all contacts and communications with any Authorities with respect to matters relating to the Services rendered under such Project Description.

 

3.5.                            Key Institution Personnel. All Institution Personnel (as defined in Section 4.2) identified in a Project Description as “Key Institution Personnel” will remain assigned to perform Services covered by the applicable Project Description as long as such individuals remain employed by or under contract with Institution, unless an individual is unavailable for reasons of disability, illness or promotion. The parties agree to periodically review the performance of the Key Institution Personnel and promptly remedy any concerns to Ymabs’ reasonable satisfaction.

 

4.                                      Representations and Warranties of Institution. Institution represents and warrants as follows:

 

4.1.                            Absence of Other Contractual Restrictions. To the best or Institution knowledge, Institution is under no contractual or other obligation or restriction that is inconsistent with Institution’s execution or performance of this Agreement, Institution use reasonable efforts to not enter into any agreement, either written or oral, that would materially conflict with Institution’s responsibilities under this Agreement.

 

4.2.                            Qualifications of Institution Personnel. Institution has engaged and will engage employees and permitted third parties (collectively, “Institution Personnel”) with the proper skill, training and experience to provide Services. Before providing Services, all Institution Personnel must be subject to binding agreements with Institution under which they (a) have confidentiality obligations that apply to Ymabs’s Confidential Information and that are similar to terms of this Agreement, and (b) assign and effectively vest in Institution any and all rights that such personnel might have in the results of their work without any obligation of Ymabs to pay any royalties or other consideration to such Institution Personnel.

 

4.3.                            Compliance. Institution will perform all Services in  accordance with all Applicable Laws.

 

4.4.                            Conflicts with Rights of Third Parties. Institution agrees that it will not use any patent, trade secret or other proprietary or intellectual property right of any third party in the performance of Services unless it is authorized by Ymabs to do so.

 

4.5.                            Absence of Debarment. Neither Institution nor any Institution Personnel have been, and are not under consideration to be (a) debarred from providing services pursuant to Section 306 of the United States Federal Food. Drug and Cosmetic Act 21 U.S.C. 335a; (b) excluded, debarred or suspended from, or otherwise ineligible to participate in any federal or state health care programs or federal procurement or non-procurement programs (as that term is defined in 42 U.S.C. §1320a-7b(f)); (c) disqualified by any government or regulatory agencies from performing specific services, and are not subject to a pending disqualification proceeding: or (d) convicted of a criminal offense related to the provision of health care items or services, or under investigation or subject to any such action that is pending. Institution will notify Ymabs immediately if Institution, or any Institution Personnel are subject to the foregoing, or if any action, suit, claim, investigation, or proceeding relating to the foregoing is pending, or to the best of Institution’s knowledge, is threatened

 

3

 

5.                                      Compensation. As full consideration for the Services. Ymabs will pay Institution as set forth in the applicable Project Description, in accordance with the terms of the License Agreement. Institution will invoice Ymabs for all amounts due in United States Dollars. All undisputed payments will be made by Ymabs within [****] after its receipt of an invoice and reasonable supporting documentation for such invoice.

 

6.                                      Proprietary Rights.

 

6.1.                    Materials. All documentation, information, and biological, chemical or other materials controlled by Ymabs and furnished to Institution by or on behalf of Ymabs (collectively, with all associated intellectual property rights, the “Materials”) will remain the exclusive property of Ymabs. Institution will use Materials only as necessary to perform Services. Institution will not analyze Materials except as necessary to perform Services and will not transfer or make the Materials available to third parties without the prior written consent of Ymabs.

 

6.2.                    Intellectual Property Rights. All inventions, discoveries, improvements, ideas, processes, formulations, products, computer programs, works of authorship, databases, know-how, information, data, documentation, reports, research, creations and all other products and/or materials arising from or made in the performance of the Services (whether or not patentable or subject to copyright or trade secret protection), together with all associated intellectual property rights, will be deemed to be Licensed Rights and subject to the terms of the License Agreement.

 

6.3.                    Records; Records Storage. Institution will maintain all materials, data and documentation obtained or generated by Institution in the course of preparing for and providing Services, including computerized records and files (collectively, the “Records”) in a secure area reasonably protected from fire, theft and destruction. All Records will be the property of Ymabs. Institution will not transfer, deliver or otherwise provide any Records to any party other than Ymabs or its Affiliates or designees, without the prior written approval of Ymabs.

 

6.4.                    Record Retention. All Records will be retained by Institution until Ymabs requests the transfer of such Records in writing. Institution will, at the direction and written request of Ymabs, promptly deliver Records to Ymabs or its designee, or dispose of the Records, unless the Records are required to be retained by Institution by Applicable Law or for insurance purposes. In no event will Institution dispose of any Records without first giving Ymabs [****] prior written notice of its intent to do so.

 

7.                              Confidential Information; Identifiable Information. All confidential or proprietary information disclosed by Ymabs  or its designees to Institution in connection with this Agreement, and all data, information and Records generated by Institution in the performance of this Agreement, will be deemed Ymabs’s Confidential Information and subject to the terms of the License Agreement. Notwithstanding anything to the contrary in this Section 7. (a) Institution will not disclose to any third party nor use any protected health information, personal data or required biological samples of subjects enrolled in clinical studies that are the subject of Services (collectively, “Personal Identifiable Information”) except as expressly required in the applicable Project Description and as long as such disclosure and use is in compliance with Applicable Law; and (b) such restrictions on the disclosure and use of Personal Identifiable Information will remain in place for as long as such restrictions are required under Applicable

 

[****] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 

4

 

Law. Ymabs’ use and disclosure of Personal Identifiable Information will be in accordance with Applicable Law.

 

8.                                      Expiration and Termination.

 

8.1.                            Expiration. This Agreement will expire on the later of (a) two (2) years from the Effective Date or (b) the completion of all Services under all Project Description(s) executed by the parties prior to the second anniversary of the Effective Date; provided, however, that the term of this Agreement may be extended by written notice to Institution from Ymabs prior to the expiration of the then current term. This Agreement may be earlier terminated in accordance with Section 8.2 or 8.3.

 

8.2.                            Termination by Ymabs. In the event of a material breach of this Agreement if Institution fails to cure a material breach (e.g., breach of confidentiality obligations under Section 6), Ymabs may terminate this Agreement or any Project Description with immediate effect, at any time upon [****] prior written notice to Institution.

 

8.3.                            Termination by Institution. Institution may terminate this Agreement or any Project Description if Ymabs fails to cure a material breach of this Agreement or of a Project Description within [****] after receiving written notice from Institution of such breach.

 

8.4.                            Effect of Termination or Expiration. Upon termination or expiration of this Agreement, neither Institution nor Ymabs will have any further obligations under this Agreement, or in the case of termination or expiration of a Project Description, under that Project Description, except that:

 

(a)                                 Institution will terminate all affected Services in progress in an orderly manner as soon as practical and in accordance with a schedule agreed to by Ymabs and Institution, unless Ymabs specifies in the notice of termination that Services in progress should be completed;

 

(b)                                 Ymabs will pay Institution any monies due and owing institution, up to the time of termination or expiration, for Services properly performed and all authorized expenses actually incurred (as specified in the applicable Project Description);

 

(c)                                  Institution will promptly refund any monies paid in advance by Ymabs for Services not rendered;

 

(d)                                 each Recipient will promptly return to the Discloser all of Discloser’s. Confidential Information (including all copies) provided to Recipient under this Agreement or under any Project Description which has been terminated or has expired, except for one (1) copy which Recipient may retain solely to monitor Recipient’s surviving obligations of confidentiality and non-use, and in the case of Ymabs, to exercise all surviving rights of Ymabs under this Agreements; and

 

(e)                                  the terms and conditions under Sections 1, 3.2 - 3.4, 4, 6, 7, 8, and 9 will survive any such termination or expiration

 

[****] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 

5

 

9.                                      Miscellaneous.

 

9.1.                            Relationship between the parties; taxes. The relationship between the parties under this Agreement is that of independent contractors. Nothing contained in this Agreement shall be construed to create a partnership, joint venture or agency relationship between any of the parties. No party is a legal representative of any other party, and no party can assume or create any obligation, liability, representation, warranty or guarantee, express or implied, on behalf of another party for any purpose whatsoever. Institution is responsible for, and will withhold and/or pay, any and all applicable federal, state or local taxes, payroll taxes, workers’ compensation contributions, unemployment insurance contributions or other payroll deductions from the compensation of Institution’s employees and other Institution Personnel and no such employees or other Institution Personnel will be entitled to any benefits applicable to or available to employees of Ymabs.

 

9.2.                            Publicity. Except to the extent required by Applicable Law or the rules of any stock exchange or listing agency, neither party will make any public statement or release concerning this Agreement or the transactions contemplated by this Agreement or use the other party’s name, logos or trademarks in any form of advertising, promotion or publicity, without obtaining the prior written consent of such other party.

 

9.3.                            Certain Disclosures and Transparency. Institution acknowledges that Ymabs and its Affiliates are required to abide by federal and state disclosure laws and certain transparency policies governing their activities including providing reports to the government and to the public concerning financial or other relationships with healthcare providers. Institution agrees that Ymabs and its Affiliates may, as legally required, disclose information about this Agreement and about Institution’s Services including those relating to healthcare providers and any compensation paid to healthcare providers pursuant to this Agreement. Institution agrees to promptly supply information reasonably requested by Ymabs for disclosure purposes. To the extent that Institution is independently obligated to disclose specific information concerning Services relating to healthcare providers and compensation paid to healthcare providers pursuant to this Agreement. Institution will make timely and accurate required disclosures.

 

9.4.                            Notices. Except for payments, each notice or other communication pursuant to this Agreement shall be sufficiently made or given when delivered by courier or other means providing proof of delivery to such party at its address below or as it shall designate by written notice given to the other party:

 

	
In the case or Institution:
    	
Memorial Sloan Kettering Canter Center
    
	
 
    	
 
    
	
If by mail:
    	
1275 York Avenue, Box 524
    
	
 
    	
New York, NY 10065
    
	
 
    	
 
    
	
Attn:
    	
Gregory Raskin, MD
    
	
 
    	
 
    
	
 
    	
Vice President
    
	
 
    	
 
    
	
 
    	
Technology Development
    

 

6

 

	
With copies to:
    	
Memorial Sloan Kettering Cancer Center
    
	
 
    	
Office of Technology Development
    
	
Attention:
    	
Shilpi Banerjee, Esq.,   Ph D
    
	
 
    	
Chief Intellectual   Property Counsel
    
	
If by mail:
    	
1275 York Avenue, Box 524
    
	
 
    	
New York N.Y. 10065
    
	
 
    	
 
    
	
If by courier:
    	
600 Third Avenue, 16th FL
    
	
 
    	
New York, NY 10016
    
	
 
    	
 
    
	
 
    	
 
    
	
In the case of Ymabs:
    	
Ymabs Biotherapeutics, Inc.
    
	
 
    	
701 Gateway Blvd. Suite 200
    
	
 
    	
South San Francisco. CA 94080
    
	
 
    	
Attn: CEO
    

 

9.5.                            Force Majeure. A party shall not lose any rights hereunder or be liable to the other party for damages or losses (except for payment obligations) on account of a delay or failure of performance by the such party to the extent such the delay or failure is occasioned or caused by war, strike, fire. Act of God, tornado, hurricane, earthquake, fire, flood, lockout, embargo, governmental acts or orders or restrictions (except if imposed due to or resulting from the party’s violation of law or regulations), failure of suppliers, or any other circumstance or reason where the delay or failure to perform is beyond the reasonable control of such party (a “Force Majeure”), and provided that such failure is not caused by the gross negligence or intentional misconduct of the party and the party has exerted reasonable efforts to avoid or remedy the effects of such Force Majeure; However, if a Force Majeure event causes a material failure of performance by a party for a period of more than six months, then the other party may terminate this Agreement on written notice. For clarity, a failure to obtain funding shall not constitute a force majeure event.

 

9.6.                            Entire Agreement. This Agreement, (a) together with the attached Appendix A, any fully-signed Project Descriptions, each of which are incorporated into this Agreement, and (b) the License Agreement, constitute the entire agreement between the parties with respect to the specific subject matter of this Agreement and all prior agreements, oral or written, with respect to such subject matter are superseded. Each party confirms that it is not relying on any representations or warranties of the other party except as specifically set forth in this Agreement or the License Agreement. If there is any conflict, discrepancy or inconsistency between the terms of this Agreement and any Project Description, purchase order or other form used by the parties, the terms of this Agreement will control.

 

9.7.                            No Modification. This Agreement (including the Project Description(s)) may be changed only by a writing signed by authorized representatives of each party.

 

9.8.                            Severability; Reformation. Each provision in this Agreement is independent and severable from the others, and no provision will be rendered unenforceable because any other provision is found by a proper Authority to be invalid or unenforceable in whole or in part. If any provision of this Agreement is found by such an Authority to be invalid or unenforceable in whole or in part, such provision will be changed and interpreted so as to

 

7

 

best accomplish the objectives of such unenforceable or invalid provision and the intent of the parties, within the limits of Applicable Law.

 

9.9.                            Governing Law. This Agreement and any disputes arising out of or relating to this Agreement will be governed by, construed and interpreted in accordance with the internal laws of the State of New York, without regard to any choice of law principle that would require the application of the law of another jurisdiction. The state and federal courts located in New York Country, New York, shall have exclusive jurisdiction of any claims or actions between or among the parties arising out of or relating to this Agreement or any aspect of the parties’ relationship, and each party consents to venue and personal jurisdiction of those courts for the purpose of resolving any such disputes.

 

9.10.                     Waivers. Any delay in enforcing a party’s rights under this Agreement, or any waiver as to a particular default or other matter, will not constitute a waiver of such party’s rights to the future enforcement of its rights under this Agreement, except with respect to an express written waiver relating to a particular matter for a particular period of time signed by an authorized representative of the waiving party, as applicable.

 

9.11.                     No Strict Construction; Heading; Interpretation. This Agreement has been prepared jointly and will not be strictly construed against either party. The section headings, are included solely for convenience of reference and will not control or affect the meaning or interpretation of any of the provisions of this Agreement. The words “include,” ‘includes” and “including” when used in this Agreement (and any Project Description(s)) are deemed to be followed by the phrase “but not limited to”.

 

9.12.                     Liability.

Each party shall be responsible for its negligent acts or omissions and the negligent acts or omissions of its employees, officers, or directors to the extent allowed by law.

 

9.13.                     Counterparts. This Agreement may be executed by electronic signature and in any number of counterparts, each of which will be deemed to be an original and all of which together will constitute one and the same instrument.

 

8

 

IN WITNESS WHEREOF, each party has caused this Agreement to be executed by its duly authorized representative as of the Effective Date.

 

 

	
MEMORIAL SLOAN KETTERING CANCER  CENTER
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/ Gregory Raskin
    	
 
    
	
 
    	
 
    
	
Print Name:
    	
Gregory Raskin, MD
    	
 
    
	
 
    	
 
    
	
Title:
    	
Executive Vice President, Technology Development
    	
 
    
	
 
    	
 
    
	
Date:
    	
9/21/16
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
YMABS BIOTHERAPEUTICS, INC.
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/ Thomas Gad
    	
 
    
	
 
    	
 
    
	
Print Name:
    	
Thomas Gad
    	
 
    
	
 
    	
 
    
	
Title:
    	
President
    	
 
    
	
 
    	
 
    
	
Date:
    	
9/23/2016
    	
 
    
					

 

9

 

APPENDIX A

 

SAMPLE PROJECT DESCRIPTION

 

THIS PROJECT DESCRIPTION (the “Project Description” by and between YMABS THERAPEUTICS, INC. and MEMORIAL SLOAN KETTERING CANCER CENTER, will be effective as of the last date of signature below, and upon execution will be incorporated into the Data Services Agreement between Ymabs and Institution dated [EFFECTlVE DATE OF DATA SERVICES AGREEMENT] (the “Agreement”). Capitalized terms used in this Project Description will have the same meaning as set forth in the Agreement.

 

Ymabs hereby engages Institution to provide Services, as follows”

 

1.                                      Services. Institution will provide the following Services to Ymabs:

 

Describe specific Services to be provided.

 

2.                                      Institution Contacts.

 

Project Leader: [NAME AND TITLE]

 

Administration Contact: [NAME AND TITLE]

 

Payment Contact: [NAME AND TITLE]

 

3.                                      Ymabs Representative. [NAME AND TITLE]

 

4.                                      Compensation. All amounts due under this Project Description will be invoiced in United States Dollars to the attention of [NAME AND TITLE] as follows: [INVOICE SCHEDULE]. Payment will be made in accordance with Section 4 (Compensation) of the Agreement. Institution agrees that the amounts payable or otherwise provided by Ymabs under this Agreement represent the fair market value of the Services and have not been determined in a manner that takes into account the volume or value of any referrals or business.

 

All terms and conditions of the Agreement will apply to this Project Description, in the event of any conflict between this Project Description and the terms or the Agreement, the terms of the Agreement will control. A facsimile or portable document format (“.pdf”) copy of this Project Description, including the signature pages, will be deemed an original.

 

	
PROJECT   DESCRIPTION AGREED TO AND ACCEPTED BY:
    
	
 
    	
 
    
	
 
    	
 
    
	
MEMORIAL SLOAN KETTERING  CANCER CENTER
    	
 
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    
	
 
    	
 
    
	
Print Name:
    	
 
    	
 
    
				

 

10

 

	
Title:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Date:
    	
 
    	
 
    
	
 
    	
 
    
	
YMABS   THERAPEUTICS, INC.
    	
 
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Print Name:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Title:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Date:
    	
 
    	
 
    

 

11

 

APPENDIX A

 

PROJECT DESCRIPTION

 

THIS PROJECT DESCRIPTION (the “Project Description”) by and between YMABS THERAPEUTICS, INC. and MEMORIAL SLOAN KETTERING CANCER CENTER, will be effective as of the last date of signature below, and upon execution will be incorporated into the Data Services Agreement between Ymabs and Institution dated September 20, 2016 (the “Agreement”). Capitalized terms used in this Project Description will have the same meaning as set forth in the Agreement.

 

Ymabs hereby engages Institution to provide Services, as follows:

 

I.                Services

 

Provided below are descriptions of the general services to the fulfilled under the Master Data Services Agreement (“Agreement”) by and between YMabs, and Institution, made effective September 20, 2016. These services will be provided by the Department of Pediatrics’ Clinical Trials office within Institution. Any requests beyond the activities described below will be subject to a mutually agreed upon amendment to this Project Description with appropriate funding support provided.

 

[****]

 

[****] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 

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[****]

 

II.           Institution Contacts.

 

Project Leader: [****]

 

Payment Contact: [****]

 

III.      Ymabs Representative. Thomas Gad, President

 

IV.       Compensation.

 

All amounts due under this Project Description will be invoiced in United States Dollars to the attention of Bo Kruse, Chief Financial Officer as follows. Payment will be made in accordance with Section 4 (Compensation) of the Agreement. Institution agrees that the amounts payable or otherwise provided by Ymabs under this Agreement represent the fair

 

[****] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 

2

 

market value of the Services and have not been determined in a manner that takes into account the volume or value of any referrals or business.

 

All terms and conditions of the Agreement will apply to this Project Description. In the event of any conflict between this Project Description and the terms of the Agreement, the terms of the Agreement will control. A facsimile or portable document format (“.pdf”) copy of this Project Description including the signature pages, will be deemed an original.

 

For this scope of work, payments will be made according the schedule below:

 

	
Payment
    	
 
    	
Timeline
    	
 
    	
Amount
    
	
Personnel Support
    	
 
    	
Upon execution (for January 1, 2016 – August 31,   2016)
    	
 
    	
[****]
    
	
Personnel Support
    	
 
    	
Quarterly, beginning September 2016
    	
 
    	
[****]
    
	
Data Transfer (initial)
    	
 
    	
Upon transfer
    	
 
    	
[****]
    
	
Data Transfer (ongoing)
    	
 
    	
Ad hoc, upon transfer
    	
 
    	
[****]
    
	
IND Support
    	
 
    	
Upon Execution
    	
 
    	
[****]
    

 

If the scope of services is revised, the parties agree to negotiate revised payments in good faith.

 

Invoices will be directed to:

 

	
Name:
    	
Bo Kruse
    
	
Email:
    	
BK@ymabs.com
    
	
Phone:
    	
+45 25 27 47 07
    

 

Payments will be directed to

 

	
Payee:
    	
Memorial Sloan   Kettering Cancer Center
    
	
Attn:
    	
Trang Left of   Pediatrics Fund Manager
    
	
Tax ID:
    	
[****]
    
	
Mailing Address:
    	
P.O. BOX   29035
    
	
 
    	
New York, MY   10087
    

 

All terms and conditions of the Agreement will apply to this Project Description. In the event of any conflict between this Project Description and the terms of the Agreement, the terms of the Agreement will control. A facsimile or portable document format (“.pdf”) copy of this Project Description, including the signature pages, will be deemed an original.

 

[****] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 

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PROJECT DESCRPTION AGREED TO AMD ACCEPTED BY:

 

	
MEMORIAL SLOAN KETTERING CANCER   CENTER
    
	
 
    	
 
    
	
By:
    	
/s/ Gregory Raskin
    	
 
    
	
 
    	
 
    	
 
    
	
Print Name:
    	
Gregory Raskin, MD
    	
 
    
	
 
    	
 
    	
 
    
	
Title:
    	
Vice President, Technology Development
    	
 
    
	
 
    	
 
    	
 
    
	
Date:
    	
9/21/16
    	
 
    
	
 
    	
 
    	
 
    
	
YMABS THERAPEUTICS, INC.
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ Thomas Gad
    	
 
    
	
 
    	
 
    	
 
    
	
Print Name:
    	
Thomas Gad
    	
 
    
	
 
    	
 
    	
 
    
	
Title:
    	
President
    	
 
    
	
 
    	
 
    	
 
    
	
Date:
    	
9/23/2016
    	
 
    

 

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FIRST AMENDMENT TO APPENDIX A

 

AMENDED PROJECT DESCRIPTION

 

THIS AMENDED PROJECT DESCRIPTION (the “Amendment”) by and between YMABS THERAPEUTICS, INC. and MEMORIAL SLOAN KETTERING CANCER CENTER, will be effective as of the last date of signature below, and upon execution will amend the Appendix A Project Description, effective as of September 23, 2016 (“Project Description”), which is incorporated into the Data Services Agreement between Ymabs and Institution dated September 23, 2016 (the “Agreement”). Capitalized terms used in this Amended Project Description will have the same meaning as set forth in the Project Description and the Agreement.

 

1.              Section I, Services, shall be deleted in its entirety and replaced as follows:

 

1.              Services

 

Provided below are descriptions of the general services to be fulfilled under the Master Data Services Agreement (“Agreement”) by and between YMabs, and Institution, made effective September 23, 2016. These services will be provided by the Department of Pediatrics’ Clinical Trials Office within Institution. Any requests beyond the activities described below will be subject to a mutually agreed upon amendment to this Project Description with appropriate funding support provided. The Parties agree that as Project personnel described herein are added to the performance or the Project during the term hereof, Institution shall provide notice to Y-mAbs including the name and contact information of such personnel.

 

[****]

 

	
Confidential
    	
 
    

 

[****] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 

1

 

[****]

 

[****] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 

2

 

[****]

 

2.              Section II, Compensation, shall be deleted in its entirety and replaced as follows:

 

II. Compensation.

 

All amounts due under this Project Description will be involeed in United States Dollars to die attention of Bo Kruse, Chief Financial Officer as follows: Payment will be made in accordance with Section 4 (Compensation) of the Agreement. Institution agrees that the amounts payable or otherwise provided by Ymabs under this Agreement represent the fair market value of the Services and have not been determined in a manner that takes into account the volume or value of any referrals or business.

 

All terms and conditions of the Agreement will apply to this Project Description. In the event of any conflict between this Project Description and the terms of the Agreement, the terms of the Agreement will control. A facsimile or portable document format (“.pdf”) copy of this Project Description, including the signature pages, will be deemed an original.

 

For this scope of work, payments will be made according the schedule below:

 

	
Personnel   Support
    	
Quarterly,   beginning
    	
[****]
    	
 
    
	
 
    	
October 2017
    	
 
    	
 
    
	
Data Transfer
    	
Ad hoe, upon   transfer
    	
[****]
    	
 
    
	
(ongoing)
    	
 
    	
 
    	
 
    

 

If the scope of services is revised, the panics agree to negotiate revised payments in good faith.

 

Invoices will be directed to:

 

Name: Bo kruse

Email: bk@ymabs.com

Phone: +45 25274707

 

Payments will be directed to:

 

	
Payee:
    	
Memorial Sloan   Kettering Cancer Center
    
	
Attn:
    	
Trang Left   Department of Pediatrics Fund Manager
    
	
Tax ID:
    	
[****]
    
	
Mailing Address:
    	
P.O. Box   29035
    

 

[****] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 

3

 

New York, NY 10087

 

3.              Except as amended hereby, the Agreement shall remain in full force and effect in accordance with its terms and in the event of any inconsistency between the Agreement and this Amendment, the terms and conditions of this Amendment shall prevail.

 

4.              This Amendment will be governed by, and construed in accordance with, the laws of the State of New York, without giving effect to any conflict of law principles.

 

5.              This Amendment may be executed in two or more counterparts, each of which will be deemed an original but all of which together will constitute one and the same instrument. The exchange of copies of this Amendment and of executed signature pages by facsimile transmission or by electronic mail in “portable document format” (“.pdf”) or by a combination of such means, will constitute effective execution and delivery of this Amendment as to the parties and may be used in lieu of an original Amendment for all purposes.

 

[SIGNATURES ON FOLLOWING PAGE – REMAINDER OF PAGE LEFT INTENTIONALLY BLANK]

 

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PROJECT DESCRIPTION AGREED TO AND ACCEPTED BY:

 

 

	
MEMORIAL   SLOAN KETTERING CANCER CENTER
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ Eric   Cottington
    	
 
    
	
 
    	
 
    	
 
    
	
Print Name:
    	
Eric Cottington,   PhD
    	
 
    
	
 
    	
 
    	
 
    
	
Title:
    	
Senior Vice   President, Research and Technology Management
    	
 
    
	
 
    	
 
    	
 
    
	
Date:
    	
10-11-17
    	
 
    

 

YMABS THERAPEUTICS, INC.

 

	
 
    	
 
    	
 
    
	
By:
    	
/s/ Thomas Gad
    	
 
    
	
 
    	
 
    	
 
    
	
Print Name:
    	
Thomas Gad
    	
 
    
	
 
    	
 
    	
 
    
	
Title:
    	
President
    	
 
    
	
 
    	
 
    	
 
    
	
Date:
    	
10/10/2017
    	
 
    

 

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