Document:

Exhibit 10.9

 

Via Federal Express and electronic mail

 

May 3, 2018

 

Chairman & CEO

Tom Lin, MD, PhD

Lin Bioscience, Inc.

12F., No. 68, Sec 5, Zhongxiao E. Road, Xinyi Dist.,

Taipei City 110, Taiwan (R.O.C.)

 

Re: Exclusive License Agreement between The Trustees of Columbia
University in the City of New York ("Columbia") and Lin Bioscience, Inc. ("LBS"), dated September 13, 2016 ("License
Agreement")

 

Dear Dr. Lin,

 

It is our understanding that LBS is in the process of restructuring
and is requesting Columbia's approval for the following assignments of the License Agreement: (i) the assignment by LBS of all of its
rights, title, interest, and obligations in and to the License Agreement to its wholly owned Cayman subsidiary Lin BioScience International
Ltd ("LBS KY1") (the "First Assignment"), and (ii) the assignment by LBS KY1 of all of its rights, title, interest,
and obligations in and to the License Agreement to its wholly owned Cayman subsidiary Lin BioScience Co., Ltd. ("LBS KY2") (the
 "Second Assignment"). The restructuring and the First Assignment and Second Assignment are illustrated and summarized in Exhibit
A hereto, which you have kindly provided to us.

 

You have advised us that in the First Assignment, LBS KY1 will assume
and perform all of LBS's duties, obligations and responsibilities under the License Agreement and that in the Second Assignment, LBS KY2
will assume and perform all of LBS KY1's duties, obligations and responsibilities under the License Agreement.

 

Columbia hereby consents to the First Assignment and the Second Assignment
as described herein. Upon the date that the two subscription agreements for this restructuring are executed, LBS KY2 shall be substituted
for LBS in all respects under the License Agreement and LBS KY2 (i) shall assume all duties, obligations and responsibilities under the
License Agreement and (ii) shall be entitled to enforce any and all rights and benefits arising under the License Agreement.

 

    

     

    

 

	 	Sincerely, 
	 	 
	 	/s/ Scot Hamilton 
	 	
    Scot Hamilton, Director

    Columbia Technology Ventures,

    Pursuant to the Delegation of Authority

    to Sign Documents on behalf of

    Columbia University Letter, Dated July 1,

    2017, after complying with all requirements therein for exercise of
    such authority.

 

Cc: Irene Wang

 

    

     

    

 

LBS restructuring & assignment

 

Current Structure

 

 

    

     

    

 

LBS restructuring & assignment

 

Step 1

 

 

    

     

    

 

LBS restructuring & assignment

 

Step 2

 

 

    

     

    

 

LBS restructuring & assignment

 

Final StructureExhibit 10.10

 

CERTAIN CONFIDENTIAL
INFORMATION CONTAINED IN THIS 

DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS NOT

 MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE
HARM TO THE 

COMPANY IF PUBLICLY DISCLOSED

 

SECOND AMENDMENT TO EXCLUSIVE LICENSE AGREEMENT

 

This SECOND AMENDMENT
TO EXCLUSIVE LICENSE AGREEMENT (the "Second Amendment") is made and entered into by and between THE TRUSTEES OF COLUMBIA UNIVERSITY
IN THE CITY OF NEW YORK ("Columbia") and BELITE
BIO, INC (“Company”). This Second Amendment shall become effective upon the date that this Second Amendment is signed
by both Columbia and Company (the “Second Amendment Effective Date”).

 

W I T N E S S E T H:

 

 

 

WHEREAS, Columbia and LIN BIOSCIENCE, INC.
are parties to that certain Exclusive License Agreement dated September 13, 2016, and amended August 15, 2017 (the “License Agreement”);

 

WHEREAS, LIN BIOSCIENCE, INC. and LIN BIOSCIENCE
INTERNATIONAL LTD. entered an agreement dated June 30, 2018 to assign the License Agreement to LIN BIOSCIENCE INTERNATIONAL LTD. (the
 “First Assignment”);

 

WHEREAS, LIN BIOSCIENCE INTERNATIONAL LTD.
and Company (formerly known as Lin BioScience Co., Ltd.) entered an agreement dated July 1, 2018 to assign the License Agreement to Company
(the “Second Assignment”);

 

WHEREAS, Columbia provided its consent
to the First Assignment and the Second Assignment dated May 3, 2018; and

 

WHEREAS, Company
and the Columbia wish to amend the License Agreement in certain respects to add intellectual property
licensed to Company under the License Agreement;

 

NOW, THEREFORE, in consideration of the
premises and the mutual covenants herein set forth, the parties hereto hereby agree as follows:

 

		1.	Except as modified through this Second Amendment, all provisions of the License Agreement shall remain
in full force and effect. Each capitalized term used herein, and not otherwise defined herein, shall have the meaning set forth in the
License Agreement.

 

     

     

    

 

		2.	Exhibit A of the License Agreement is hereby amended by adding the following
Patent:

 

	Invention Report No.	Application	Filing Date	Country
	[***]	[***]
	 	[***]	[***]	[***]

 

		3.	Except as expressly set forth in this Second Amendment, the License Agreement
shall remain in full force and effect. If there is any inconsistency or conflict between this Second Amendment and the License Agreement,
the provisions of this Second Amendment shall govern and control. This Second Amendment may be executed in any number of counterparts,
each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. This Second Amendment
shall be binding upon, and shall inure to the benefit of, the parties hereto and their respective successors and assigns. 

 

     

     

    

 

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

 

	 	THE TRUSTEES OF COLUMBIA
	 	UNIVERSITY IN THE CITY OF NEW YORK 
	 	 
	 	By	/s/ Scot G. Hamilton
	 	Name: Scot G. Hamilton
	 	Title: AVP
	 	TTS: 53601 (Original: 49055)
	 	Date: March 27, 2019
	 	 
	 	BELITE BIO, INC
	 	 
	 	By	/s/ Tom Lin
	 	Name: Tom Lin
	 	Title: Director
	 	Date: March 28, 2019Exhibit 10.11

 

CERTAIN CONFIDENTIAL
INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE
HARM TO THE COMPANY IF PUBLICLY DISCLOSED

 

THIRD AMENDMENT

TO

EXCLUSIVE LICENSE AGREEMENT

 

This THIRD AMENDMENT
TO EXCLUSIVE LICENSE AGREEMENT (this "Amendment") is made and entered into as of October 24, 2019 (“Third Amendment Effective
Date”) by and between Belite Bio, Inc ("Company") and The Trustees of Columbia
University in the City of New York ("Columbia").

 

W I T N E S S
E T H:

 

 

 

WHEREAS, Columbia and LIN BIOSCIENCE, INC. are
parties to that certain Exclusive License Agreement dated September 13, 2016, and amended on August 15, 2017 (the “License Agreement”);

 

WHEREAS, LIN BIOSCIENCE, INC. and LIN BIOSCIENCE
INTERNATIONAL LTD. entered an agreement dated June 30, 2018 to assign the License Agreement to LIN BIOSCIENCE INTERNATIONAL LTD. (the
 “First Assignment”);

 

WHEREAS, LIN BIOSCIENCE INTERNATIONAL LTD. and
Company (formerly known as Lin BioScience Co., Ltd.) entered an agreement dated July 1, 2018 to assign the License Agreement to Company
(the “Second Assignment”);

 

WHEREAS, Columbia provided its consent to the
First Assignment and the Second Assignment dated May 3, 2018;

 

WHEREAS, Company and
Columbia are parties to the License Agreement, and amended on March 28, 2019 (collectively, the “Agreement”). Each
capitalized term used herein, and not otherwise defined herein, shall have the meaning set forth in the Agreement;
and

 

WHEREAS, Company and
the Columbia wish to amend the Agreement in certain respects;

 

NOW, THEREFORE, in consideration of the premises
and the mutual covenants herein set forth, the parties hereto hereby agree as follows:

 

     

     

    

 

		1.	The first two lines of Section 2b of the Agreement is deleted in its entirety and replaced with the following:

 

“Columbia grants to Company the
right to grant sublicenses, provided that (i) the Sublicensee agrees to”

 

		2.	Section 4c(ii) of the Agreement shall be deleted in its entirety and replaced
with the following:

 

“Company or Sublicensee, as applicable,
will pay to Columbia an amount equal to [***] of Priority Review Voucher Revenue. If Company or Sublicensee, as applicable, have not sold
the Priority Review Voucher [***] receipt of the Priority Review Voucher, royalties due under Section 3b(ii)(A)(1) shall [***] of Net
Sales of Patent Products.”

 

		3.	Section 4d shall be amended by adding the following language at the end of
the provision:

 

“In the event that Company achieves
a milestone for a Product without the need to achieve any milestone(s) preceding it, Company will pay Columbia the milestone payment for
the achieved milestone and payment(s) due for any preceding milestone(s) not already paid for such Product.”

 

		4.	Except as expressly set forth in this Third Amendment, the Agreement shall
remain in full force and effect. If there is any inconsistency or conflict between this Third Amendment and the Agreement, the provisions
of this Amendment shall govern and control. This Third Amendment may be executed in any number of counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same instrument. This Third Amendment shall be binding upon,
and shall inure to the benefit of, the parties hereto and their respective successors and assigns. 

 

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

 

	 	THE TRUSTEES OF COLUMBIA

 UNIVERSITY IN THE CITY OF NEW YORK
	 	 	 
	 	 	 
	 	By	/s/ Scot G. Hamilton

	 	Name:	Scot G. Hamilton
	 	Title:	AVP

	 	
    TTs#55016
    

	 	 
	 	
    BELITE BIO, INC 

    

	 	 
	 	 
	 	By	/s/ Tom Lin

	 	
    Name:

    
	Tom Lin
	 	
    Title:

    
	Director

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